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                                                                   EXHIBIT 10.16

                             ANC RENTAL CORPORATION

                          EMPLOYEE STOCK PURCHASE PLAN

                                    ARTICLE I
                                     GENERAL

1.1      PURPOSE

         The ANC Rental Corporation Employee Stock Purchase Plan (the "Plan") is
intended to encourage employee participation in the ownership and economic
progress of ANC Rental Corporation. The Plan is intended to qualify under
Section 423 of the Internal Revenue Code of 1986, as amended.

1.2      DEFINITIONS

         Unless the context clearly indicates otherwise, the following terms
have the meanings set forth below:

         "AFFILIATE" shall mean any entity controlling, controlled by or under
common control with the Corporation.

         "BOARD" shall mean the Board of Directors of the Corporation.

         "CODE" shall mean the Internal Revenue Code of 1986, as amended.

         "COMMITTEE" shall mean the Compensation Committee of the Board.

         "COMMON STOCK" shall mean shares of the common stock, par value $0.01
per share, of the Corporation.

         "CORPORATE BENEFITS ADMINISTRATION" shall mean the department of the
Corporation responsible for the day-to-day administration of, and recordkeeping
for, the Plan.

         "CORPORATION" shall mean ANC Rental Corporation.

         "CONTINUOUS SERVICE" shall mean the period of time, uninterrupted by
the termination of employment, that an Employee has been employed by the
Corporation and/or a Designated Participating Company immediately preceding an
Option Period. Such period of time shall include any approved leave of absence.

         "DESIGNATED PARTICIPATING COMPANY" shall mean any Affiliate
characterized as a parent or subsidiary of the Corporation under Code Section
424 that has been designated by the Committee to participate under the Plan.

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         "EMPLOYEE" shall mean any employee of the Corporation or a Designated
Participating Company who customarily works at least twenty hours per week and
more than five months in any calendar year.

         "EXERCISE DATE" shall mean the last business day of each month.

         "FAIR MARKET VALUE" of a share of Common Stock shall be the average of
the high and low trading prices on the applicable date or such other reasonable
method of determining fair market value as the Committee shall adopt.

         "NOTICE OF WITHDRAWAL" shall mean the form prescribed by the Committee
which must be completed and executed by a Participant who wishes to voluntarily
withdraw from the Plan.

         "OPTION PERIOD" shall mean each period beginning on the first day of a
calendar month and ending on the last business day of that month.

         "OPTION PRICE" shall mean the purchase price of a share of Common Stock
as provided in Section 3.1 hereof.

         "PARTICIPANT" shall mean any Employee who (i) is eligible to
participate in the Plan under Section 2.1 hereof and (ii) elects to participate.

         "PLAN" shall mean this ANC Rental Corporation Employee Stock Purchase
Plan, as the same may be amended from time to time.

         "PLAN ACCOUNT" shall mean an account established and maintained under
the Plan in the name of each Participant.

         "PLAN MANAGER" shall mean an individual appointed by the Committee as
provided in Section 1.3 hereof.

         "PLAN YEAR" shall mean the twelve-month period beginning on January 1
and ending on the following December 31.

         "STOCK PURCHASE AGREEMENT" shall mean the form prescribed by the
Committee which must be completed and executed by an Employee who wishes to
participate in the Plan.

1.3      ADMINISTRATION OF PLAN

         The Committee shall have the authority to administer the Plan and to
make and adopt rules and regulations not inconsistent with the provisions of the
Plan or the Code. The Committee shall adopt the form of Stock Purchase
Agreement, Notice of Withdrawal and all other forms required hereunder. Its
interpretations and decisions in respect to the Plan shall, subject to the
foregoing, be binding and conclusive. The Committee shall have the authority to
appoint an individual as Plan Manager and to delegate to the Plan Manager such

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authority with respect to the administration of the Plan as the Committee, in
its sole discretion, deems advisable from time to time. The Committee also shall
have the authority to appoint outside administrators, agents and recordkeepers
and to delegate to such appointees such authority with respect to the
administration as the Committee, in its sole discretion, deems advisable from
time to time.

1.4      EFFECTIVE DATE OF PLAN

         The Plan shall become effective on the date established for that
purpose by the Committee. The effective date may not be earlier than the date
the Plan is approved by the Board or the date the Plan is approved by the
Corporation's stockholders.

1.5      EXTENSION OR TERMINATION OF PLAN

         The Plan shall continue in effect through, and including, December 31,
2010, unless terminated prior thereto pursuant to Section 4.3 hereof, or by the
Board or Committee, each of which shall have the right to extend the term of or
terminate the Plan at any time. Upon termination, the balance, if any, in each
Participant's Plan Account shall be refunded to him or her, or otherwise
disposed of in accordance with policies and procedures prescribed by the
Committee in cases where such a refund may not be possible.

                                   ARTICLE II
                                  PARTICIPATION

2.1      ELIGIBILITY

         Each Employee, including members of the Committee and the Plan Manager,
may become a Participant effective as of the Option Period following the date
the employee completes 90 days of continuous service by filing a Stock Purchase
Agreement with Corporation Benefits Administration on or before the 20th day of
the month prior to the commencement of the Option Period. An otherwise eligible
Employee may not, however, participate in the Plan if the Employee owns (or if
participation in the Plan would cause the Employee to own) capital stock
possessing 5% or more of the total voting power of all classes of stock of the
Corporation or of any Affiliate.

2.2      PAYROLL DEDUCTIONS

         Payment for shares of Common Stock purchased hereunder shall be made by
authorized payroll deductions in accordance with a Participant's Stock Purchase
Agreement. A Participant's payroll deduction amount should be expressed as a
dollar amount of at least $5 per calendar month (or the approximate equivalent
thereof in other currencies as determined by the Committee from time to time). A
Participant may not increase or decrease his or her payroll deduction election
with respect to an Option Period at any time during such Option Period. However,
a Participant may change his or her payroll deduction election for any
subsequent Option Period by filing notice thereof with Corporate Benefits
Administration on or before the 20th day of the month prior to the commencement
of the Option Period. Payroll deduction amounts shall be credited to a
Participant's Plan Account.

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                                   ARTICLE III
                               PURCHASE OF SHARES

3.1      OPTION PRICE

         The Option Price per share of the Common Stock purchased on any
Exercise Date in the Plan Year beginning in 2000 shall be 90% of the Fair Market
Value of such share on the Exercise Date. Thereafter, the percentage of Fair
Market Value will be established by the Board, provided that in no event shall
it be less than 85%. In addition, in no event shall the Option Price per share
be less than the par value of the Common Stock.

3.2      PURCHASE OF SHARES

         On each Exercise Date, the amount in a Participant's Plan Account shall
be charged with the aggregate Option Price of the number of whole and fractional
shares of Common Stock that can be purchased with the amount. The balance, if
any, in a Participant's Plan Account shall be carried forward to the next
succeeding Option Period. The Corporation shall pay the fees and commissions
associated with the purchase of Common Stock under the Plan.

3.3      LIMITATIONS ON PURCHASE

         No Participant may purchase shares of Stock hereunder in excess of the
limitations imposed by Section 423(b)(8) of the Code.

3.4      TRANSFERABILITY OF RIGHTS

         Rights to purchase shares of Stock hereunder shall be exercisable only
by the Participant. Such rights shall not be transferable.

                                   ARTICLE IV
                       PROVISIONS RELATING TO COMMON STOCK

4.1      COMMON STOCK RESERVED

         The Corporation has reserved 2,000,000 authorized and unissued shares
of Common Stock for issuance under the Plan, subject to adjustment in accordance
with Section 4.2 hereof. The aggregate number of shares that may be purchased
thereafter under the Plan shall not exceed the number of shares reserved for the
Plan.

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4.2      ADJUSTMENT FOR CHANGES IN COMMON STOCK

         In the event that adjustments are made in the number of outstanding
shares of Common Stock or such shares are exchanged for a different class of
stock of the Corporation or for shares of stock of any other corporation by
reason of merger, consolidation, stock dividend, stock split or otherwise, the
Committee may make appropriate adjustments in (i) the number and class of shares
or other securities that may be reserved for purchase, or purchased, hereunder
and (ii) the Option Price. All such adjustments shall be made in the sole
discretion of the Committee, and its decision shall be binding and conclusive.

4.3      INSUFFICIENT SHARES

         If the aggregate funds available for the purchase of Common Stock on
any Exercise Date would cause an issuance of shares in excess of the number
provided for in Section 4.1 hereof, (i) the Committee shall proportionately
reduce the number of shares which would otherwise be purchased by each
Participant in order to eliminate such excess, and (ii) the Plan shall
automatically terminate immediately after such Exercise Date.

4.4      CONFIRMATION

         Purchases of Common Stock hereunder shall be confirmed in writing to
the Participant in statements provided on a quarterly basis. A record of
purchases shall be maintained by appropriate entries on the books of the
Corporation, its transfer agent or the Plan recordkeeper. Participants may
obtain a certificate or certificates for whole shares of Common Stock purchased
hereunder for his or her Plan Account by requesting same in writing.
Participants may obtain cash in lieu of fractional shares by requesting same in
writing.

4.5      RIGHTS AS SHAREHOLDERS

         The shares of Common Stock purchased by a Participant on an Exercise
Date shall, for all purposes, be deemed to have been issued and sold at the
close of business on such Exercise Date. Prior to that time, none of the rights
or privileges of a shareholder of the Corporation shall exist with respect to
such shares.

                                    ARTICLE V
                          TERMINATION OF PARTICIPATION

5.1      VOLUNTARY WITHDRAWAL

         A Participant may withdraw from the Plan at any time effective as of
the next succeeding Option Period by filing a Notice of Withdrawal with
Corporation Benefits Administration on or before the 20th day of the month prior
to the commencement of the Option Period. Upon withdrawal, the entire amount, if
any, in a Participant's Plan Account shall be used to purchase whole and
fractional shares of Common Stock pursuant to Section 3.2 hereof on the next
succeeding Exercise Date, and any remaining balance shall be refunded without

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interest or otherwise disposed of in accordance with policies and procedures
prescribed by the Committee in cases where such a refund may not be possible.
Any Participant who withdraws from the Plan may again become a Participant in
accordance with Section 2.1 hereof.

5.2      TERMINATION OF ELIGIBILITY

         If a Participant ceases to be eligible under Section 2.1 hereof for any
reason, the entire amount, if any, in his or her Plan Account shall be used to
purchase whole and fractional shares of Common Stock pursuant to Section 3.2
hereof on the next succeeding Exercise Date, and any remaining balance shall be
refunded without interest or otherwise disposed of in accordance with policies
and procedures prescribed by the Committee in cases where such a refund may not
be possible.

                                   ARTICLE VI
                               SUPPLEMENTAL PLANS

6.1      SUPPLEMENTAL PLANS

         The Committee is hereby authorized in its sole discretion to adopt
supplemental plans applicable to employees in jurisdictions other than the
United States. Such plans shall have terms identical to this plan, except that
eligibility to participate may be extended to a class of employees not eligible
under this Plan if the Committee determines that it is advisable for such class
to be so treated due to local law, tax requirements or custom. Any supplemental
plan may adopt the provisions of this Plan by cross-reference, provided that the
maximum number of shares of Common Stock set forth in this Plan from time to
time shall be the maximum number of shares available under the Plan and all
supplemental plans in the aggregate.

                                   ARTICLE VII
                               GENERAL PROVISIONS

7.1      NOTICES

         Any notice that a Participant files pursuant to the Plan shall be made
on forms prescribed by the Committee and shall be effective when received by
Corporate Benefits Administration.

7.2      CONDITION OF EMPLOYMENT

         Neither the creation of the Plan nor participation therein shall be
deemed to create any right of continued employment or in any way affect the
right of the Corporation to terminate an Employee.

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7.3      AMENDMENT OF THE PLAN

         The Board or the Committee may at any time, or from time to time, amend
the Plan in any respect, except that, without approval of the shareholders, no
amendment may (i) increase the aggregate number of shares reserved under the
Plan other than as provided in Section 4.2 hereof, (ii) materially increase the
benefits accruing to Participants or (iii) materially modify the requirements as
to eligibility for participation in the Plan. Any amendment of the Plan must be
made in accordance with applicable provisions of the Code and/or regulations
issued thereunder, any other applicable law or regulations, and the requirements
of the principal exchange upon which the Common Stock is listed.

7.4      APPLICATION OF FUNDS

         All funds received by the Corporation by reason of purchases of Common
Stock hereunder may be used for any corporate purpose.

7.5      LEGAL RESTRICTIONS

         The Corporation shall not be obligated to sell shares of Common Stock
hereunder if counsel to the Corporation determines that such sale would violate
any applicable law or regulation.

7.6      GOVERNING LAW

         The Plan and all rights and obligations thereunder shall be construed
and enforced in accordance with the laws of the State of Florida and any
applicable provisions of the Code and the related regulations.

                                      -7-<PAGE>   1
                                                                   EXHIBIT 10.17

[FORM FOR DIRECTORS]

                       NONQUALIFIED STOCK OPTION AGREEMENT
                 UNDER ANC RENTAL CORPORATION STOCK OPTION PLAN

         This agreement ("Agreement"), by and between ANC RENTAL CORPORATION
(the "Company") and [NAME OF OPTIONEE] ("Optionee") is entered into as of July
3, 2000. This Agreement must be signed by the Optionee and returned to the
Company's Stock Option Administrator by [DATE] or all options granted herein
will be cancelled.

         WHEREAS, the Company's Board of Directors (the "Board") has awarded to
Optionee a so-called "nonqualified" stock option under the ANC Rental
Corporation Stock Option Plan (the "Plan") (attached hereto as EXHIBIT A) to
purchase shares of the Company's common stock, $0.01 par value (the "Common
Stock"), conditioned upon the execution by the Optionee and the Company of this
Agreement.

         THEREFORE, in consideration of the promises and the covenants and
agreements set forth herein and in accordance with the terms of the Plan, the
parties agree as follows:

         1. DEFINITIONS. All terms used but not expressly defined herein shall
have the meaning expressly assigned thereto in the Plan.

         2. GRANT OF OPTION. Subject to the terms and conditions of this
Agreement and the Plan, Optionee is granted effective July 3, 2000 a
nonqualified stock option to purchase [NUMBER OF SHARES] of Common Stock at a
price of $[FAIR MARKET VALUE ON DATE OF GRANT] per share (the "Option"). The
Option will have a ten-year term and is fully vested and immediately
exercisable.

         3. OPTIONEE BOUND BY TERMS OF PLAN. Optionee hereby acknowledges
receipt of a copy of the Plan and agrees to be bound by all the terms,
conditions and provisions thereof.

         4. GOVERNING LAW. This Agreement shall be governed by and construed in
accordance with the laws of the State of Florida, without regard to its conflict
of laws provisions.

         5. SEVERABILITY. The invalidity or enforceability or any one or more
provisions of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement and shall remain in full force and effect.

         6. NOTICES. All notices or other communications with respect to this
award shall be deemed given and delivered in person or by facsimile transmission
or mailed by registered or certified mail (return receipt requested, postage
prepaid) to the Company's Stock Option Administrator at the following address
(or such other address, as shall be specified by like notice of change of
address effective upon receipt):

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                           Stock Option Administrator
                           ANC Rental Corporation
                           [ADDRESS]

         7. BINDING EFFECT. Subject to the limitation stated above and in the
Plan, this Agreement shall be binding upon and inure to the benefit of the
successors and assigns of the Company and to the Optionee's heirs, legatees,
distributees and personal representatives.

         8. CONFLICT WITH TERMS OF PLAN. In the event that any provisions of
this Agreement should conflict with any provisions of the Plan, the Plan shall
govern and be controlling.

         9. INTEGRATION. This Agreement supersedes and all prior agreements and
understanding between the Company and Optionee relating to the grant of the
Option.

         10. TAX CONSEQUENCES. The Option is not an "incentive stock option"
within the meaning of section 422 of the Internal Revenue Code of 1986, as
amended. Accordingly, the timing and amount of taxation applicable to the Option
will depend on a number of factors, including the amount of appreciation in
value, if any, of the Common Stock in excess of the exercise price paid by
Optionee. Because the tax effect may vary depending on Optionee's personal
circumstances, it is strongly recommended that Optionee consult with tax counsel
or a tax advisor prior to Optionee's exercise of the Option.

         IN WITNESS WHEREOF, the parties have executed this Agreement.

ANC RENTAL CORPORATION                               OPTIONEE

By:
    ------------------------------                  ----------------------------
                                                    Signature

                                                    ----------------------------
                                                    Print or Type Name

                                                    ----------------------------
                                                    Address

                                                    ----------------------------
                                                    Social Security Number

                                                    ----------------------------
                                                    Date

                                      -2-
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                                    EXHIBIT A

                              [ATTACH COPY OF PLAN]

                                      -3-
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[FORM FOR NON-DIRECTORS]

                       NONQUALIFIED STOCK OPTION AGREEMENT
                 UNDER ANC RENTAL CORPORATION STOCK OPTION PLAN

         This agreement ("Agreement"), by and between ANC RENTAL CORPORATION
(the "Company") and [NAME OF OPTIONEE] ("Optionee") is entered into as of July
3, 2000. This Agreement must be signed by the Optionee and returned to the
Company's Stock Option Administrator by [DATE] or all options granted herein
will be cancelled.

         WHEREAS, the Compensation Committee of the Company's Board of Directors
(the "Board") has awarded to Optionee a so-called "nonqualified" stock option
under the ANC Rental Corporation Stock Option Plan (the "Plan") (attached hereto
as EXHIBIT A) to purchase shares of the Company's common stock, $0.01 par value
(the "Common Stock"), conditioned upon the execution by the Optionee and the
Company of this Agreement and the Confidentiality and Non-Compete Agreement (the
Confidentiality and Non-Compete Agreement") (attached hereto as EXHIBIT B).

         THEREFORE, in consideration of the promises and the covenants and
agreements set forth herein and in accordance with the terms of the Plan, the
parties agree as follows:

         1. DEFINITIONS. All terms used but not expressly defined herein shall
have the meaning expressly assigned thereto in the Plan.

         2. GRANT OF OPTION. Subject to the terms and conditions of this
Agreement and the Plan, Optionee is granted effective July 3, 2000 a
nonqualified stock option to purchase [NUMBER OF SHARES] of Common Stock at a
price of $[FAIR MARKET VALUE ON DATE OF GRANT] per share (the "Option"). The
Option will have a ten-year term and will vest (become exercisable) over four
years beginning on January 1, 2001 and continuing on each January 1 thereafter
at a rate each year of 25% of the aggregate shares.

         3. FORFEITURE OF OPTION IF OPTIONEE IS TERMINATED FOR CAUSE. If
Optionee's employment is terminated as a result of Optionee's dishonesty, theft,
embezzlement from the Company, disclosing trade secrets of the Company, the
commission of a willful felonious act while in the employment of the Company or
the Optionee's engaging in competitive or other activities determined by the
Committee to be actually or potentially injurious to the business or reputation
of the Company, then the Option shall terminate immediately.

         4. FORFEITURE OF OPTION IF OPTIONEE ENGAGES IN CERTAIN COMPETITIVE
ACTIVITIES. If at any time during the term of Optionee's employment and within
twelve months after termination of Optionee's employment with the Company,
Optionee violates Paragraph 4 of the Company's Confidentiality and Non-Compete
Agreement, the Option shall terminate effective on the date on which Optionee
enters into such activity (as determined by the Compensation Committee), unless
terminated sooner by operation of the Plan.

                                      -1-
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         5. VOLUNTARY RETIREMENT. The Option shall become immediately vested if
at the time Optionee retires, he or she is at least 55 years old and has
completed at least five years of service to the Company commencing on or after
January 1, 2000. Optionee will have one year from the date of retirement to
exercise the Option.

         6. OPTIONEE BOUND BY TERMS OF PLAN. Optionee hereby acknowledges
receipt of a copy of the Plan and agrees to be bound by all the terms,
conditions and provisions thereof.

         7. GOVERNING LAW. This Agreement shall be governed by and construed in
accordance with the laws of the State of Florida, without regard to its conflict
of laws provisions.

         8. RIGHT OF CONTINUED EMPLOYMENT. Nothing contained in this Agreement
shall confer on Optionee the right to continue in the employment of the Company
or otherwise impede the Company's ability to terminate Optionee's employment.

         9. SEVERABILITY. The invalidity or enforceability or any one or more
provisions of this Agreement shall not affect the validity or enforceability of
any other provision of this Agreement and shall remain in full force and effect.

         10. NOTICES. All notices or other communications with respect to this
award shall be deemed given and delivered in person or by facsimile transmission
or mailed by registered or certified mail (return receipt requested, postage
prepaid) to the Company's Stock Option Administrator at the following address
(or such other address, as shall be specified by like notice of change of
address effective upon receipt):

                           Stock Option Administrator
                           ANC Rental Corporation
                           [ADDRESS]

         11. BINDING EFFECT. Subject to the limitation stated above and in the
Plan, this Agreement shall be binding upon and inure to the benefit of the
successors and assigns of the Company and to the Optionee's heirs, legatees,
distributees and personal representatives.

         12. CONFLICT WITH TERMS OF PLAN. In the event that any provisions of
this Agreement should conflict with any provisions of the Plan, the Plan shall
govern and be controlling.

         13. INTEGRATION. This Agreement supersedes and all prior agreements and
understanding between the Company and Optionee relating to the grant of the
Option.

         14. TAX CONSEQUENCES. The Option is not an "incentive stock option"
within the meaning of section 422 of the Internal Revenue Code of 1986, as
amended. Accordingly, the timing and amount of taxation applicable to the Option
will depend on a number of factors, including the amount of appreciation in
value, if any, of the Common Stock in excess of the exercise price paid by
Optionee. Because the tax effect may vary depending on Optionee's personal
circumstances, it is strongly recommended that Optionee consult with tax counsel
or a tax advisor prior to Optionee's exercise of the Option.

         IN WITNESS WHEREOF, the parties have executed this Agreement.

                            [signatures on next page]

                                      -2-
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ANC RENTAL CORPORATION                               OPTIONEE

By:
   -------------------------------                  ----------------------------
                                                    Signature

                                                    ----------------------------
                                                    Print or Type Name

                                                    ----------------------------
                                                    Address

                                                    ----------------------------
                                                    Social Security Number

                                                    ----------------------------
                                                    Date

                                      -3-
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                                    EXHIBIT A

                              [ATTACH COPY OF PLAN]

                                      -4-
<PAGE>   8

                                    EXHIBIT B

               [ATTACH CONFIDENTIALITY AND NON-COMPETE AGREEMENT]

                                      -5-

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