Document:

EXHIBIT 4.5

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                            MEGAMEDIA NETWORKS, INC.
                             2000 STOCK OPTION PLAN

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1.       PURPOSE. The purpose of this Plan is to advance the interests of
         MEGAMEDIA NETWORKS, INC., a Delaware corporation (the "Company"), and
         its Subsidiaries by providing an additional incentive to attract and
         retain qualified and competent persons who provide services to the
         Company and its Subsidiaries, and upon whose efforts and judgment the
         success of the Company and its Subsidiaries is largely dependent,
         through the encouragement of stock ownership in the Company by such
         persons.

2.       DEFINITIONS. As used herein, the following terms shall have the meaning
         indicated:

         (a)      "Board" shall mean the Board of Directors of the Company.

         (b)      "Code" shall mean the Internal Revenue Code of 1986, as
                  amended from time to time.

         (c)      "Committee" shall mean the committee appointed by the Board
                  pursuant to Section 13(a) hereof, or, if such committee is not
                  appointed, the Board.

         (d)      "Common Stock" shall mean the Company's Common Stock, par
                  value $.01 per share.

         (e)      "Company" shall mean MEGAMEDIA NETWORKS, INC., a Delaware
                  corporation.

         (f)      "Director" shall mean a member of the Board.

         (g)      "Effective Date" shall mean June 1, 2000.

         (h)      "Fair Market Value" of a Share on any date of reference shall
                  mean the fair market value of a Share of the Company's Common
                  Stock on that date, as determined by the Committee or the
                  Board in a fair and uniform manner. After the Publicly-Traded
                  Date, Fair Market Value shall mean the "Closing Price" (as
                  defined below) of the Common Stock on the business day
                  immediately preceding the date of reference, unless the
                  Committee or the Board in its sole discretion shall determine
                  otherwise in a fair and uniform manner. For the purpose of
                  determining Fair Market Value, the "Closing Price" of the
                  Common Stock on any business day shall be (i) if the Common
                  Stock is listed or admitted for trading on any

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                  United States national securities exchange, or if actual
                  transactions are otherwise reported on a consolidated
                  transaction reporting system, the last reported sale price of
                  Common Stock on such exchange or reporting system, as reported
                  in any newspaper of general circulation, (ii) if the Common
                  Stock is quoted on the National Association of Securities
                  Dealers Automated Quotations System ("NASDAQ"), or any similar
                  system of automated dissemination of quotations of securities
                  prices in common use, the last reported sale price of Common
                  Stock on such system or, if sales prices are not reported, the
                  mean between the closing high bid and low asked quotations for
                  such day of Common Stock on such system, as reported in any
                  newspaper of general circulation or (iii) if neither clause
                  (i) or (ii) is applicable, the mean between the high bid and
                  low asked quotations for the Common Stock as reported by the
                  National Quotation Bureau, Incorporated if at least two
                  securities dealers have inserted both bid and asked quotations
                  for Common Stock on at least five of the ten preceding days.

         (i)      "Incentive Stock Option" shall mean an incentive stock option
                  as defined in Section 422 of the Internal Revenue Code.

         (j)      "Non-Qualified Stock Option" shall mean an Option that is not
                  an Incentive Stock Option.

         (k)      "Officer" shall mean the Company's Chairman of the Board,
                  President, Chief Executive Officer, principal financial
                  officer, principal accounting officer, any vice-president of
                  the Company in charge of a principal business unit, division
                  or function (such as sales, administration or finance), any
                  other officer who performs a policy-making function, or any
                  other person who performs similar policy-making functions for
                  the Company. Officers of Subsidiaries shall be deemed Officers
                  of the Company if they perform such policy-making functions
                  for the Company. As used in this paragraph, the phrase
                  "policy-making function" does not include policy-making
                  functions that are not significant. If pursuant to Item 401(b)
                  of Regulation S-K (17 C.F.R.ss. 229.401(b)) the Company
                  identifies a person as an "executive officer," the person so
                  identified shall be deemed an "Officer" even though such
                  person may not otherwise be an "Officer" pursuant to the
                  foregoing provisions of this paragraph.

         (l)      "Option" (when capitalized) shall mean any option granted
                  under this Plan.

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         (m)      "Option Agreement" means the agreement between the Company and
                  the Optionee for the grant of an option.

         (n)      "Optionee" shall mean a person to whom a stock option is
                  granted under this Plan or any person who succeeds to the
                  rights of such person under this Plan by reason of the death
                  of such person.

         (o)      "Outside Director" shall mean a member of the Board who
                  qualifies as an "outside director" under Section 162(m) of the
                  Internal Revenue Code and the regulations thereunder and as a
                  "Non-Employee Director" under Rule 16b-3 promulgated under the
                  Securities Exchange Act.

         (p)      "Plan" shall mean this 2000 Stock Option Plan for the Company.

         (q)      "Publicly-Traded Date" shall mean the date on which the Common
                  Stock of the Company, or the stock of any successor company
                  into which the Option or any substituted option or right
                  becomes exercisable pursuant to Section 10(c) hereof, are
                  registered pursuant to Section 12(b) or 12(g) of the
                  Securities Exchange Act.

         (r)      "Securities Exchange Act" shall mean the Securities Exchange
                  Act of 1934, as amended from time to time.

         (s)      "Share" shall mean a share of Common Stock.

         (t)      "Subsidiary" shall mean any corporation (other than the
                  Company) in any unbroken chain of corporations beginning with
                  the Company if, at the time of the granting of the Option,
                  each of the corporations other than the last corporation in
                  the unbroken chain owns stock possessing 50 percent or more of
                  the total combined voting power of all classes of stock in one
                  of the other corporations in such chain.

3.       SHARES AVAILABLE FOR OPTION GRANTS. The Committee or the Board may
         grant to Optionees from time to time Options to purchase an aggregate
         of up to [One Million Five Hundred Thousand] ([1,500,000]) Shares from
         the Company's authorized and unissued Shares. If any Option granted
         under the Plan shall terminate, expire, or be canceled or surrendered
         as to any Shares, new Options may thereafter be granted covering such
         Shares.

4.       INCENTIVE AND NON-QUALIFIED OPTIONS.

         (a)      An Option granted hereunder shall be either an Incentive Stock
                  Option or a Non-Qualified Stock Option as determined by the
                  Committee or the

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                  Board at the time of grant of the Option and shall clearly
                  state whether it is an Incentive Stock Option or Non-Qualified
                  Stock Option. All Incentive Stock Options shall be granted
                  within 10 years from the effective date of this Plan.
                  Incentive Stock Options may not be granted to any person who
                  is not an employee of the Company or any Subsidiary.

         (b)      Options otherwise qualifying as Incentive Stock Options
                  hereunder will not be treated as Incentive Stock Options to
                  the extent that the aggregate fair market value (determined at
                  the time the Option is granted) of the Shares, with respect to
                  which Options meeting the requirements of Section 422(b) of
                  the Code are exercisable for the first time by any individual
                  during any calendar year (under all plans of the Company and
                  its parent and subsidiary corporations as defined in Section
                  424 of the Code), exceeds $100,000.

5.       CONDITIONS FOR GRANT OF OPTIONS.

         (a)      Each Option shall be evidenced by an Option Agreement that may
                  contain any term deemed necessary or desirable by the
                  Committee or the Board, provided such terms are not
                  inconsistent with this Plan or any applicable law. Optionees
                  shall be (i) those persons selected by the Committee or the
                  Board from the class of all regular employees of, or persons
                  who provide consulting or other services as independent
                  contractors to, the Company or its Subsidiaries, including
                  Directors and Officers who are regular employees, and (ii)
                  Directors who are not employees of the Company or of any
                  Subsidiaries.

         (b)      In granting Options, the Committee or the Board shall take
                  into consideration the contribution the person has made to the
                  success of the Company or its Subsidiaries and such other
                  factors as the Committee or the Board shall determine. The
                  Committee or the Board shall also have the authority to
                  consult with and receive recommendations from officers and
                  other personnel of the Company and its Subsidiaries with
                  regard to these matters. The Committee or the Board may from
                  time to time in granting Options under the Plan prescribe such
                  other terms and conditions concerning such Options as it deems
                  appropriate, including, without limitation, (i) prescribing
                  the date or dates on which the Option becomes exercisable,
                  (ii) providing that the Option rights accrue or become
                  exercisable in installments over a period of years, or upon
                  the attainment of stated goals or both, or (iii) relating an
                  Option to the continued employment of the Optionee for a
                  specified period of time, provided that such terms and
                  conditions are not more favorable to an Optionee than those
                  expressly permitted herein.

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         (c)      The Options granted to employees under this Plan shall be in
                  addition to regular salaries, pension, life insurance or other
                  benefits related to their employment with the Company or its
                  Subsidiaries. Neither the Plan nor any Option granted under
                  the Plan shall confer upon any person any right to employment
                  or continuance of employment by the Company or its
                  Subsidiaries.

         (d)      The Committee or the Board shall have the discretion to grant
                  Options that are exercisable for unvested shares of Common
                  Stock. Should the Optionee cease to be employed with or
                  perform services for the Company (or a Subsidiary) while
                  holding such unvested shares, the Company shall have the right
                  to repurchase, at the exercise price paid per share, any or
                  all of those unvested shares. The terms upon which such
                  repurchase right shall be exercisable (including the period
                  and procedure for exercise and the appropriate vesting
                  schedule for the purchased shares) shall be established by the
                  Committee or the Board and set forth in the document
                  evidencing such repurchase right.

         (e)      Notwithstanding any other provision of this Plan, an Incentive
                  Stock Option shall not be granted to any person owning
                  directly or indirectly (through attribution under Section
                  424(d) of the Code) at the date of grant, stock possessing
                  more than 10% of the total combined voting power of all
                  classes of stock of the Company (or of its parent or
                  subsidiary corporation [as defined in Section 424 of the Code]
                  at the date of grant) unless the option price of such Option
                  is at least 110% of the Fair Market Value of the Shares
                  subject to such Option on the date the Option is granted, and
                  such Option by its terms is not exercisable after the
                  expiration of five years from the date such Option is granted.

         (f)      Notwithstanding any other provision of this Plan, and in
                  addition to any other requirements of this Plan, the aggregate
                  number of Options granted to any one Optionee may not exceed
                  [750,000], subject to adjustment as provided in Section 10
                  hereof.

6.       OPTION PRICE. The option price per Share of any Option shall be any
         price determined by the Committee or the Board but shall not be less
         than the par value per Share; provided, however, that in no event shall
         the option price per Share of any Incentive Stock Option be less than
         the Fair Market Value of the Shares underlying such Option on the date
         such Option is granted.

7.       EXERCISE OF OPTIONS. An Option shall be deemed exercised when (i) the
         Company has received written notice of such exercise in accordance with
         the terms of the

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         Option, (ii) full payment of the aggregate option price of the Shares
         as to which the Option is exercised has been made, and (iii)
         arrangements that are satisfactory to the Committee or the Board in its
         sole discretion have been made for the Optionee's payment to the
         Company of the amount that is necessary for the Company or Subsidiary
         employing the Optionee to withhold in accordance with applicable
         Federal or state tax withholding requirements. The consideration to be
         paid for the Shares to be issued upon exercise of an Option, as well as
         the method of payment of the exercise price and of any withholding and
         employment taxes applicable thereto, shall be determined by the
         Committee or the Board and may, in the discretion of the Committee or
         the Board, consist of: (1) cash, (2) certified or official bank check,
         (3) money order, (4) Shares that have been held by the Optionee for at
         least six (6) months (or such other Shares as the Company determines
         will not cause the Company to recognize for financial accounting
         purposes a charge for compensation expense), (5) the withholding of
         Shares issuable upon exercise of the Option, (6) pursuant to a
         "cashless exercise" procedure, by delivery of a properly executed
         exercise notice together with such other documentation, and subject to
         such guidelines, as the Board or the Committee shall require to effect
         an exercise of the Option and delivery to the Company by a licensed
         broker acceptable to the Company of proceeds from the sale of Shares or
         a margin loan sufficient to pay the exercise price and any applicable
         income or employment taxes, or (7) in such other consideration as the
         Committee or the Board deems appropriate, or by a combination of the
         above. In the case of an Incentive Stock Option, the permissible
         methods of payment shall be specified at the time the Option is
         granted. The Committee or the Board in its sole discretion may accept a
         personal check in full or partial payment of any Shares. If the
         exercise price is paid, and/or the Optionee's tax withholding
         obligation is satisfied, in whole or in part with Shares, or through
         the withholding of Shares issuable upon exercise of the Option, the
         value of the Shares surrendered or withheld shall be their Fair Market
         Value on the date the Option is exercised. The Committee or the Board
         in its sole discretion may, on an individual basis or pursuant to a
         general program established in connection with this Plan, cause the
         Company to lend money to an Optionee, guarantee a loan to an Optionee,
         or otherwise assist an Optionee to obtain the cash necessary to
         exercise all or a portion of an Option granted hereunder or to pay any
         tax liability of the Optionee attributable to such exercise. If the
         exercise price is paid in whole or part with Optionee's promissory
         note, such note shall (i) provide for full recourse to the maker, (ii)
         be collateralized by the pledge of the Shares that the Optionee
         purchases upon exercise of the Option, (iii) bear interest at the prime
         rate of the Company's principal lender, and (iv) contain such other
         terms as the Committee or the Board in its sole discretion shall
         reasonably require. No Optionee shall be deemed to be a holder of any
         Shares subject to an Option unless and until a stock certificate or
         certificates for those Shares are issued to that person(s) under the
         terms of this Plan. No adjustment shall be made for dividends

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         (ordinary or extraordinary, whether in cash, securities or other
         property) or distributions or other rights for which the record date is
         prior to the date the stock certificate is issued, except as expressly
         provided in Section 10 hereof.

8.       EXERCISABILITY OF OPTIONS. Any Option shall become exercisable in such
         amounts, at such intervals and upon such terms as the Committee or the
         Board shall provide in the Option Agreement for that Option, except as
         otherwise provided in this Section 8:

         (a)      The expiration date of an Option shall be determined by the
                  Committee or the Board at the time of grant, but in no event
                  shall an Option be exercisable after the expiration of 10
                  years from the date of grant of the Option.

         (b)      Unless otherwise provided in any Option, each outstanding
                  Option shall become immediately fully exercisable in the event
                  of a "Change in Control" or in the event that the Committee or
                  the Board exercises its discretion to provide a cancellation
                  notice with respect to the Option pursuant to Section 9(b)
                  hereof. For this purpose, the term "Change in Control" shall
                  mean:

                  (i)      Approval by the shareholders of the Company of a
                           reorganization, merger, consolidation or other form
                           of corporate transaction or series of transactions,
                           in each case, with respect to which persons who were
                           the shareholders of the Company immediately prior to
                           such reorganization, merger or consolidation or other
                           transaction do not, immediately thereafter, own more
                           than 50% of the combined voting power entitled to
                           vote generally in the election of directors of the
                           reorganized, merged or consolidated company's then
                           outstanding voting securities, in substantially the
                           same proportions as their ownership immediately prior
                           to such reorganization, merger, consolidation or
                           other transaction, or a liquidation or dissolution of
                           the Company or the sale of all or substantially all
                           of the assets of the Company (unless such
                           reorganization, merger, consolidation or other
                           corporate transaction, liquidation, dissolution or
                           sale is subsequently abandoned); or

                  (ii)     Individuals who, as of the date on which the Option
                           is granted hereof, constitute the Board (the
                           "Incumbent Board") cease for any reason to constitute
                           at least a majority of the Board, provided that any
                           person becoming a director subsequent to the date on
                           which the Option was granted whose election, or
                           nomination for election by the Company's
                           shareholders, was approved by a vote of at least

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                           a majority of the directors then comprising the
                           Incumbent Board (other than an election or nomination
                           of an individual whose initial assumption of office
                           is in connection with an actual or threatened
                           election contest relating to the election of the
                           Directors of the Company, as such terms are used in
                           Rule 14a-11 of Regulation 14A of Regulation 14A
                           promulgated under the Securities Exchange Act) shall
                           be, for purposes of this Agreement, considered as
                           though such person were a member of the Incumbent
                           Board.; or

                  (iii)    The acquisition (other than from the Company) by any
                           person, entity or "group", within the meaning of
                           Section 13(d)(3) or 14(d)(2) of the Securities
                           Exchange Act, of beneficial ownership (within the
                           meaning of Rule 13-d promulgated under the Securities
                           Exchange Act, of more than 50% of either the then
                           outstanding shares of the Company's Common Stock or
                           the combined voting power of the Company's then
                           outstanding voting securities entitled to vote
                           generally in the election of directors (hereinafter
                           referred to as the ownership of a "Controlling
                           Interest") excluding, for this purpose, any
                           acquisitions by (1) the Company or its Subsidiaries,
                           (2) any person, entity or "group" that as of the date
                           on which the Option is granted owns beneficial
                           ownership (within the meaning of Rule 13d-3
                           promulgated under the Securities Exchange Act) of a
                           Controlling Interest or (3) any employee benefit plan
                           of the Company or its Subsidiaries.

         (d)      The Committee or the Board may in its sole discretion
                  accelerate the date on which any Option may be exercised and
                  may accelerate the vesting of any Shares subject to any Option
                  or previously acquired by the exercise of any Option.

9.       TERMINATION OF OPTION PERIOD.

         (a)      Unless otherwise provided in any Option Agreement, the
                  unexercised portion of any Option shall automatically and
                  without notice terminate and become null and void at the time
                  of the earliest to occur of the following:

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                  (i)      three months after the date on which the Optionee's
                           employment is terminated other than by reason of (A)
                           Cause, which, solely for purposes of this Plan, shall
                           mean the termination of the Optionee's employment by
                           reason of the Optionee's willful misconduct or gross
                           negligence, (B) a mental or physical disability
                           (within the meaning of Internal Revenue Code Section
                           22(e)) of the Optionee as determined by a medical
                           doctor satisfactory to the Committee, or (C) death of
                           the Optionee;

                  (ii)     immediately upon the termination of the Optionee's
                           employment for Cause;

                  (iii)    twelve months after the date on which the Optionee's
                           employment is terminated by reason of a mental or
                           physical disability (within the meaning of Section
                           22(e) of the Code) as determined by a medical doctor
                           satisfactory to the Committee or the Board;

                  (iv)     (A) twelve months after the date of termination of
                           the Optionee's employment by reason of death of the
                           Optionee, or , if later, (B) three months after the
                           date on which the Optionee shall die if such death
                           shall occur during the one year period specified in
                           Subsection 9(a)(iii) hereof;

                  (v)      the tenth anniversary of the date on which the Option
                           was granted.

         All references herein to the termination of the Optionee's employment
         shall, in the case of an Optionee who is not an employee of the Company
         or a Subsidiary, refer to the termination of the Optionee's service
         with the Company.

         (b)      To the extent not previously exercised, (i) each Option shall
                  terminate immediately in the event of (1) the liquidation or
                  dissolution of the Company, or (2) any reorganization, merger,
                  consolidation or other form of corporate transaction in which
                  the Company does not survive, unless the successor
                  corporation, or a parent or subsidiary of such successor
                  corporation, assumes the Option or substitutes an equivalent
                  option or right pursuant to Section 10(c) hereof, and (ii) the
                  Committee or the Board in its sole discretion may by written
                  notice ("cancellation notice") cancel, effective upon the
                  consummation of any corporate transaction described in
                  Subsection 8(b)(i) hereof in which the Company does survive,
                  any Option that remains unexercised on such date. The
                  Committee or the Board shall give written notice of any
                  proposed transaction referred to in this Section 9(b) a
                  reasonable period of time prior to the closing date for such

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                  transaction (which notice may be given either before or after
                  approval of such transaction), in order that Optionees may
                  have a reasonable period of time prior to the closing date of
                  such transaction within which to exercise any Options that
                  then are exercisable (including any Options that may become
                  exercisable upon the closing date of such transaction). An
                  Optionee may condition his exercise of any Option upon the
                  consummation of a transaction referred to in this Section
                  9(b).

10.      ADJUSTMENT OF SHARES.

         (a)      If at any time while the Plan is in effect or unexercised
                  Options are outstanding, there shall be any increase or
                  decrease in the number of issued and outstanding Shares
                  through the declaration of a stock dividend or through any
                  recapitalization resulting in a stock split-up, combination or
                  exchange of Shares, then and in that event:

                  (i)      appropriate adjustment shall be made in the maximum
                           number of Shares available for grant under the Plan,
                           or available for grant to any person under the Plan,
                           so that the same percentage of the Company's issued
                           and outstanding Shares shall continue to be subject
                           to being so optioned; and

                  (ii)     the Board or the Committee may, in its discretion,
                           make any adjustments it deems appropriate in the
                           number of Shares and the exercise price per Share
                           thereof then subject to any outstanding Option, so
                           that the same percentage of the Company's issued and
                           outstanding Shares shall remain subject to purchase
                           at the same aggregate exercise price.

         (b)      Unless otherwise provided in any Option Agreement, the
                  Committee may change the terms of Options outstanding under
                  this Plan, with respect to the option price or the number of
                  Shares subject to the Options, or both, when, in the
                  Committee's sole discretion, such adjustments become
                  appropriate so as to preserve benefits under the Plan.

         (c)      In the event of a proposed sale of all or substantially all of
                  the Company's assets or any reorganization, merger,
                  consolidation or other form of corporate transaction in which
                  the Company does not survive, where the securities of the
                  successor corporation, or its parent company, are issued to
                  the Company's shareholders, then the successor corporation or
                  a parent of the successor corporation may, with the consent of
                  the Committee or the Board, assume each outstanding Option or
                  substitute an equivalent option or right. If the successor
                  corporation, or its parent, does not cause such an

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                  assumption or substitution to occur, or the Committee or the
                  Board does not consent to such an assumption or substitution,
                  then each Option shall terminate pursuant to Section 9(b)
                  hereof upon the consummation of sale, merger, consolidation or
                  other corporate transaction.

         (d)      Except as otherwise expressly provided herein, the issuance by
                  the Company of shares of its capital stock of any class, or
                  securities convertible into shares of capital stock of any
                  class, either in connection with a direct sale or upon the
                  exercise of rights or warrants to subscribe therefore, or upon
                  conversion of shares or obligations of the Company convertible
                  into such shares or other securities, shall not affect, and no
                  adjustment by reason thereof shall be made to, the number of
                  or exercise price for Shares then subject to outstanding
                  Options granted under the Plan.

         (e)      Without limiting the generality of the foregoing, the
                  existence of outstanding Options granted under the Plan shall
                  not affect in any manner the right or power of the Company to
                  make, authorize or consummate (i) any or all adjustments,
                  recapitalizations, reorganizations or other changes in the
                  Company's capital structure or its business; (ii) any merger
                  or consolidation of the Company; (iii) any issue by the
                  Company of debt securities, or preferred or preference stock
                  that would rank above the Shares subject to outstanding
                  Options; (iv) the dissolution or liquidation of the Company;
                  (v) any sale, transfer or assignment of all or any part of the
                  assets or business of the Company; or (vi) any other corporate
                  act or proceeding, whether of a similar character or
                  otherwise.

11.      TRANSFERABILITY OF OPTIONS AND SHARES. No Incentive Stock Option, and
         unless the prior written consent of the Committee or the Board is
         obtained (which consent may be withheld for any reason) and the
         transaction does not violate the requirements of Rule 16b-3 promulgated
         under the Securities Exchange Act no Non-Qualified Stock Option, shall
         be subject to alienation, assignment, pledge, charge or other transfer
         other than by the Optionee by will or the laws of descent and
         distribution, and any attempt to make any such prohibited transfer
         shall be void. Each Option shall be exercisable during the Optionee's
         lifetime only by the Optionee, or in the case of a Non-Qualified Stock
         Option that has been assigned or transferred with the prior written
         consent of the Committee or the Board, only by the permitted assignee.

12.      ISSUANCE OF SHARES.

         (a)      Notwithstanding any other provision of this Plan, the Company
                  shall not be obligated to issue any Shares unless it is
                  advised by counsel of its

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                  selection that it may do so without violation of the
                  applicable Federal and State laws pertaining to the issuance
                  of securities, and may require any stock so issued to bear a
                  legend, may give its transfer agent instructions, and may take
                  such other steps, as in its judgment are reasonably required
                  to prevent any such violation.

         (b)      As a condition to any sale or issuance of Shares upon exercise
                  of any Option, the Committee or the Board may require such
                  agreements or undertakings as the Committee or the Board may
                  deem necessary or advisable to facilitate compliance with any
                  applicable law or regulation including, but not limited to,
                  the following:

                  (i)      a representation and warranty by the Optionee to the
                           Company, at the time any Option is exercised, that he
                           is acquiring the Shares to be issued to him for
                           investment and not with a view to, or for sale in
                           connection with, the distribution of any such Shares;
                           and

                  (ii)     a representation, warranty and/or agreement to be
                           bound by any legends endorsed upon the certificate(s)
                           for the Shares that are, in the opinion of the
                           Committee or the Board, necessary or appropriate to
                           facilitate compliance with the provisions of any
                           securities laws deemed by the Committee or the Board
                           to be applicable to the issuance and transfer of
                           those Shares.

13.      ADMINISTRATION OF THE PLAN.

         (a)      The Plan shall be administered by the Board or, at the
                  discretion of the Board, by a committee appointed by the Board
                  (the "Committee") which shall be composed of two or more
                  Directors. At any time after the Publicly Traded Date, the
                  membership of the Committee shall be constituted so as to
                  comply at all times with the then applicable requirements for
                  Outside Directors of Rule 16b-3 promulgated under the
                  Securities Exchange Act and Section 162(m) of the Internal
                  Revenue Code. The Committee shall serve at the pleasure of the
                  Board and shall have the powers designated herein and such
                  other powers as the Board may from time to time confer upon
                  it.

         (b)      The Committee or the Board may grant Options pursuant to this
                  Plan to any persons to whom Options may be granted under
                  Section 5(a) hereof.

         (c)      The Committee or the Board, from time to time, may adopt rules
                  and regulations for carrying out the purposes of the Plan. The
                  determinations of the Committee or the Board, and its
                  interpretation and construction of

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                  any provision of the Plan or any Option Agreement, shall be
                  final and conclusive.

         (d)      Any and all decisions or determinations of the Committee shall
                  be made either (i) by a majority vote of the members of the
                  Committee at a meeting or (ii) without a meeting by the
                  unanimous written approval of the members of the Committee.

14.      WITHHOLDING OR DEDUCTION FOR TAXES. If at any time specified herein for
         the making of any issuance or delivery of any Option or Common Stock to
         any Optionee, any law or regulation of any governmental authority
         having jurisdiction in the premises shall require the Company to
         withhold, or to make any deduction for, any taxes or to take any other
         action in connection with the issuance or delivery then to be made, the
         issuance or delivery shall be deferred until the withholding or
         deduction shall have been provided for by the Optionee or beneficiary,
         or other appropriate action shall have been taken.

15.      INTERPRETATION.

         (a)      As it is the intent of the Company that after the
                  Publicly-Traded Date, the Plan shall comply in all respects
                  with Rule 16b-3 promulgated under the Securities Exchange Act
                  ("Rule 16b-3"), any ambiguities or inconsistencies in
                  construction of the Plan shall be interpreted to give effect
                  to such intention, and if any provision of the Plan is found
                  not to be in compliance with Rule 16b-3, such provision shall
                  be deemed null and void to the extent required to permit the
                  Plan to comply with Rule 16b-3. The Committee or the Board may
                  from time to time adopt rules and regulations under, and
                  amend, the Plan in furtherance of the intent of the foregoing.

         (b)      The Plan and any Option Agreements entered into pursuant to
                  the Plan shall be administered and interpreted so that all
                  Incentive Stock Options granted under the Plan will qualify as
                  Incentive Stock Options under Section 422 of the Code. If any
                  provision of the Plan or any Option Agreement relating to an
                  Incentive Stock Option should be held invalid for the granting
                  of Incentive Stock Options or illegal for any reason, that
                  determination shall not affect the remaining provisions
                  hereof, but instead the Plan and the Option Agreement shall be
                  construed and enforced as if such provision had never been
                  included in the Plan or the Option Agreement.

         (c)      This Plan shall be governed by the laws of the State of
                  [Delaware].

                                      -13-
<PAGE>

         (d)      Headings contained in this Plan are for convenience only and
                  shall in no manner be construed as part of this Plan.

         (e)      Any reference to the masculine, feminine, or neuter gender
                  shall be a reference to such other gender as is appropriate.

16.      AMENDMENT AND DISCONTINUATION OF THE PLAN. The Committee or the Board
         may from time to time amend, suspend or terminate the Plan or any
         Option; provided, however, that, any amendment to the Plan shall be
         subject to the approval of the Company's shareholders if such
         shareholder approval is required by any federal or state law or
         regulation (including, without limitation, Rule 16b-3 or to comply with
         Section 162(m) of the Internal Revenue Code) or the rules of any Stock
         exchange or automated quotation system on which the Common Stock may
         then be listed or granted. Except to the extent provided in Sections 9
         and 10 hereof, no amendment, suspension or termination of the Plan or
         any Option issued hereunder shall substantially impair the rights or
         benefits of any Optionee pursuant to any Option previously granted
         without the consent of the Optionee.

17.      EFFECTIVE DATE AND TERMINATION DATE. The effective date of the Plan is
         June 1, 2000 and the Plan shall terminate on the 10th anniversary of
         the Effective Date. The Plan shall be submitted to the shareholders of
         the Company for their approval and adoption and Options hereunder may
         be granted prior to such approval and adoption but contingent upon such
         approval and adoption.

                                      -14-EXHIBIT 10.15

                              ADDENDUM (AMMENDMENT)

On January 10, 2000 an Employment Agreement (the "Employment Agreement") by and
between MegaMedia Networks, Inc., (the "Company") and David A. Gust, (the
"Executive") was executed.

                                     RECITAL

Whereas the parties for good and sufficient business reasons have agreed to
modify this Employment Agreement beginning on the 9th day of June, 2000 and
whereas Section 3 (Duties), Section 4 (Compensation, Stock Options and
Benefits), Section 7 (Non-competition) and Exhibit E (Description of Business)
contain the subject matter to be modified, it is Hereby agreed by and between
the Company and the Executive to modify these Sections of the agreement as
follows:

1.       The following shall modify, replace and supercede Section 3:

               Duties. During the term of this Agreement, subject to the
               direction of the Board of Directors of the Company, the Executive
               will serve in the capacities set forth in Section 1 hereof. The
               Executive shall use his best efforts, skills and abilities to
               promote the interests of the Company and to diligently and
               competently perform his duties. Executive may independently have
               business dealings with and interest in not more than two (2)
               other companies, including public companies, philanthropic,
               charitable or civic entities, as long as participation in such
               endeavors does not materially interfere with the performance of
               the Executive's duties hereunder.

2.       Section 4 shall be temporarily modified as follows:

          a.   For a seventeen-week period beginning on Saturday June 9, 2000 to
               Friday October 6, 2000 (Deferral Term) the Executive's pro-rata
               payment of annual salary shall be reduced by twenty-five
               percentum (25%). The total of this deferred amount shall not
               exceed $15,528.85 calculated as: $190,000 salary/ 52 weeks
               annually =$3,653.85 * 17 weeks = $62,115.38 * 25% = $15,528.85.
               Such reduction shall be taken as $913.46 per week for the
               Deferral Term.

          b.   At the end of the Deferral Term the provisions of Section 4. will
               revert to those of the original Employment Agreement and the
               Company will compensate the Executive for the aforesaid monetary
               reduction of wages during the Deferral Term in one of two methods
               selected at the Executive's discretion as follows:

                    i.   Payment of the deferred amount to the Executive over
                         the subsequent seventeen-week period increasing
                         Executive salary payments by $913.46 per week for this
                         period of time; or

<PAGE>

                    ii.  Payment of the deferred amount by issuing shares of
                         Company common stock in the exact amount of the
                         deferred salary at a unit price of $1.00 per share.

3.       The following shall modify, replace and supercede Section 7:

                Non-Competition: The Executive acknowledges that his services to
                be rendered hereunder are of a special and unusual character and
                have a unique value to the Company, the loss of which cannot be
                adequately compensated by damages in any court of law. In view
                of the unique value to the Company of the services of the
                Executive, the Executive hereby covenants and agrees that so
                long as he remains employed by the Company (whether under this
                agreement or any other written or oral agreement or arrangement)
                and for a period of up to one (1) year after the termination or
                expiration of any such employment for any reason specified in
                Section 9 Paragraph C, the Executive shall not directly or
                indirectly engage in or have an active interest in, anywhere in
                the world, alone or in association with others, as principal,
                officer, agent, executive, consultant, independent contractor,
                director, partner or stockholder, or through the investment of
                capital, lending of money or property, rendering of services, or
                otherwise, any business directly competitive with the business
                engaged in by the Company, the Executive hereby acknowledging
                that the Company conducts business and distributes its products,
                or contemplates conducting business and distributing its
                product(s), on a worldwide basis; provided, however, that this
                Section 7 shall not prevent the Executive from acquiring, solely
                as investment and through market purchases, up to ten percent
                (10%) of the securities of any issuer that are registered under
                Section 12(b) or 12(g) of the Securities Exchange Act of 1934,
                as amended, and that are listed or admitted for trading on any
                United States national securities exchange or that are quoted on
                the National Association of Securities Dealers Automated
                Quotations System. The business in which the Company is engaged
                and from which the Executive shall refrain from engaging in
                following the termination of his employment shall be specified
                in Exhibit E to this Agreement. The description of the Company's
                business shall be revised as often as necessary, (but not less
                than every six (6) months) to reflect the scope and nature of
                the Company's business from time to time, and such revisions to
                Exhibit E shall be the responsibility of the Executive and of
                the Chief Executive Officer of the Company, as approved by the
                Board of Directors. So long as Executive remains employed by the
                Company (whether under this Agreement or any other written or
                oral agreement or arrangement) and for a period of one (1) year
                after the termination or expiration of any such employment for
                any reason, the Executive shall not, and shall not permit, cause
                or authorize any of his executives, agents or others under his
                control to, directly or indirectly, on behalf of himself or any
                other person, to recruit or otherwise solicit or induce any
                person who is an executive of; or otherwise engaged by, the
                Company or any successor to the business of the company or any
                affiliate of the Company to terminate his or her employment or
                other relationship with the Company or such successor or
                affiliate. The Executive shall not at any time, directly or
                indirectly, use or purport to

<PAGE>

                authorize any person to use any name, mark, logo, trade dress or
                other identifying words or images which are the same as or
                similar to those used at any time by the Company or any
                affiliate in connection with any product or service, whether or
                not such use would be in a business competitive with that of the
                Company. This Restrictive Covenant on the part of the Executive
                is given and made by the Executive to induce MegaMedia to employ
                the Executive and to enter into this Employment Agreement with
                the Executive, and the Executive hereby acknowledges the
                sufficiency of the consideration for this Restrictive Covenant.

                This Restrictive Covenant is not executory or otherwise subject
                to rejection under the Bankruptcy Code. This Restrictive
                Covenant is a reasonable an necessary restraint of trade and
                does not violate the Sherman Antitrust Act, the Florida
                Antitrust Act, or the common law; it is supported by valid
                business interests, including the protection of MegaMedia trade
                secrets and confidential business information and the protection
                of MegaMedia's relationships with its customers and prospective
                customers, and the one (1) year restriction is essential to the
                full protection of those valid business interests. If any
                portion of this Restrictive Covenant is held by a court of
                competent jurisdiction to be unreasonable, arbitrary, or against
                public policy for any reason, this Restrictive Covenant shall be
                considered divisible as to line of business, time, and
                geographic area; if a court of competent jurisdiction should
                determine the specified lines of business, the specified period,
                or the specified geographic area to be unreasonable, arbitrary,
                or against public policy for any reason, a narrower line of
                business, a lesser period, or a smaller geographic area that is
                determined to be reasonable, non-arbitrary, and not against
                public policy for any reason, may be enforced by MegaMedia
                against the Executive.

4.       The following shall modify, replace and supercede EXHIBIT E:

                             DESCRIPTION OF BUSINESS
                                    EXHIBIT E

                MegaMedia Networks, Inc. is a male-oriented Internet
                entertainment portal intending to deliver content and
                merchandising similar to Maxim magazine with streaming media and
                internet enabled interactivity. MegaMedia Networks markets and
                distributes entertainment content to male consumers on a pay per
                view, subscription, membership, or free basis. The firm
                generates revenue through advertising sales, affiliate marketing
                programs, and membership fees.

                MegaMedia Networks engages in several critical areas of activity
                including: content acquisition through purchase, partnerships,
                licensing and original content production; encoding of content
                into such form as may be transmitted through electronic or
                wireless distribution networks; organization, development and
                presentation of a compelling consumer-oriented site or sites
                incorporating marketing, advertising, and sales targeted to male
                consumer

<PAGE>

                preferences and site hosting, serving and distribution through
                global digital transmission networks.

5.   The parties agree that the terms and obligations herein constitute good and
     sufficient consideration for the execution of this agreement and each
     acknowledges that they have given and received full and sufficient
     compensation.

6.   There are no intentions by either of the parties to alter any other portion
     of the January 10th, 2000 Employment Agreement and every other provision of
     said agreement remains in full force and effect and binding on the parties.

7.   This Amendment Agreement is intended to conform with Section 22 B of the
     January 10th, 2000 Employment Agreement, that Employment Agreement in every
     other respect is intended to be binding upon the signatories and no other
     modification or alteration of the terms is to be implied.

--------------------------      -------------------------       -------
Witness                         Executive - David A. Gust       Date

--------------------------      -------------------------       -------
Witness                         MegaMedia Networks, Inc.        Date
                                William A. Mobley, Jr.
                                Chairman

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