Document:

Document is copied.
                                  Exhibit 10.1
                                ESCROW AGREEMENT

         THIS ESCROW AGREEMENT (this "Agreement") is entered into as of the 24th
day of  October,  2000,  by and  among  Roex,  Inc.,  a  California  corporation
("Issuer"),  RH Investments  Corporation  ("Placement  Agent"), and Wells Fargo,
National Association ("Escrow Agent")

                                R E C I T A L S:

         A. Issuer  propose to offer for sale to  subscribers  an  aggregate  of
1,000,000  shares of the  capital  stock of  Issuer,  having  no par value  (the
"Shares") at a price of $6.00 per Share,  payable at the time of subscribing for
a Share.  500,000  shares and the  proceeds  therefrom  shall be subject to this
Agreement.  The payment of $3,000,000  for at least 500,000  Shares will be paid
into the escrow created by this Agreement.

         B.  Issuer  intends to sell the Shares on a  best-efforts  "minimum  or
none"  basis  in a  public  offering  (the  "Offering")  by  delivering  to each
subscriber a Prospectus (the "Prospectus") describing the Offering.

         C.  Issuer  desires  to  establish  an escrow  account  in which  funds
received from subscribers  would be deposited  pending  completion of the period
during  which the Escrow  Account  shall be open (the  "Escrow  Period").  Wells
Fargo, National Association,  serve as Escrow Agent in accordance with the terms
and conditions set forth herein.

                                   AGREEMENT:

         NOW, THEREFORE,  for good and valuable  consideration,  the receipt and
sufficiency  of  which is  hereby  acknowledged,  the  parties  hereby  agree as
follows:

         1. Issuer hereby appoints Wells Fargo, National Association,  as Escrow
Agent and Escrow Agent shall establish an escrow account (the "Escrow  Account")
on  its  books  styled  "Wells  Fargo  Bank\Roex  Escrow"  ("Roex   Subscription
Account").  Commencing upon the execution of this Agreement,  Escrow Agent shall
act as Escrow Agent and hereby  agrees to receive and disburse the proceeds from
the offering of the Shares in accordance with the terms hereof. Issuer agrees to
notify the Escrow Agent  promptly of the closing of the offering and sale of the
Shares.

         2.  Issuer or  Placement  Agent shall  cause all checks  received  from
subscribers for Shares to be promptly deposited into the Escrow Account no later
than 12:00 Noon following the day of receipt of such checks. Issuer or Placement
Agent shall deliver to the Escrow Agent checks of the  subscribers  made payable
to the "Roex Subscription Account" or  endorsed  to the Roex  Subscription
Account.  Any checks that are received by Escrow Agent that are not made payable
or endorsed to the Roex Subscription Account shall be returned to the Issuer.
Issuer or Placement Agent shall furnish to the Escrow Agent at the time of
each deposit

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of the above-mentioned funds a list containing the name of each subscriber,  the
subscriber's  address,  the number of Shares  subscribed for, and receipt of the
Minimum (as described below), the Issuer is aware and understands that it is not
entitled to any proceeds from  subscriptions  deposited  into the Escrow Account
and no amounts  deposited in the Escrow  Account  during the Escrow Period shall
become  the  property  of the Issuer or any other  entity,  or be subject to the
debts of the Issuer or any other entity.

         3. The  Escrow  Period  shall  commence  on the date  hereof  and shall
terminate  ten (10) Business  Days (as defined  below)  following the earlier to
occur of the following dates:

                  (a)      The  date  upon  which  Escrow  Agent  confirms  upon
                           written  request of the Issuer  that it has  received
                           into  the  Escrow   Account   and   collected   gross
                           subscription proceeds from the sale of 500,000 Shares
                           aggregating   $3,000,000  in  deposited   funds  (the
                           "Minimum")  assuming  that,  prior to such date,  the
                           SB-2 Registration  Statement as amended,  File Number
                           333-92299   has  been   declared   effective  by  the
                           Securities and Exchange Commission; or

                  (b)      The "Cessation  Date," which for the purposes of this
                           Agreement  shall  be  January  29,  2001,  except  as
                           extended in writing by the agreement of parties for a
                           period not to exceed an additional sixty (60) days.

                  (c)      The date upon  which a  determination  is made by the
                           Issuer to terminate the Offering prior to the sale of
                           the  Minimum,  as  communicated  to  Escrow  Agent in
                           writing.

                  Upon the occurrence of any of the events described in (a), (b)
or (c) above,  the Escrow Period shall  continue for such ten (10)  Business-Day
period solely for the limited  purposes of collecting  subscribers'  checks that
have been  deposited  prior to such event and  disbursing  funds from the Escrow
Account  as  provided   herein.   Escrow  Agent  will  not  accept  deposits  of
subscribers'   checks  after  notice  that  any  of  the  events   described  in
subparagraphs (a), (b) and (c) has occurred.

                  "Business Day" shall mean a day on which  commercial  banks in
Los Angeles,  California,  are open for the general transaction of business.  If
any action or time for performance pursuant to this Agreement is to occur on any
Saturday,  Sunday or  holiday,  such time for  action  or  performance  shall be
extended to the next Business Day.

         4. The Escrow Agent will deposit the subscribers' checks for collection
and credit the  proceeds to the Escrow  Account to be held by it under the terms
of this Agreement.  Notwithstanding  anything to the contrary  contained herein,
Escrow Agent is under no duty or  responsibility  to enforce  collection  of any
checks  delivered  to  Escrow  Agent  hereunder.  The  Escrow  Agent  hereby  is
authorized to forward each check for  collection and deposit the proceeds in the
Escrow Account.  As an  alternative,  the Escrow Agent may telephone the bank on
which the check is drawn to confirm that the check has been paid.  Additionally,

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<PAGE>
to insure that such funds have cleared normal banking  channels for  collection,
Escrow  Agent  is  authorized  to hold for ten (10)  Business  Days  funds to be
released.  Issuer shall immediately reimburse Escrow Agent any monies paid to it
if  thereafter  the  subscriber's  check is returned  unpaid.  Any item returned
unpaid  to the  Escrow  Agent on its first  presentation  for  payment  shall be
returned  to Issuer  and need not be again  presented  by the  Escrow  Agent for
collection.  Issuer agrees to reimburse  Escrow Agent for the cost incurred with
any returned  check.  The Escrow Agent shall not be required to invest any funds
deposited  in the  Escrow  Account  and  shall  in no event  be  liable  for any
investment loss. For purposes of this Agreement,  the term "collected  funds" or
the term "collected" when referring to the proceeds of subscribers' checks shall
mean all  funds  received  by Escrow  Agent  that have  cleared  normal  banking
channels and are in the form of cash

         5. If prior to the Cessation Date,  subscribers' checks in an amount of
at least the Minimum  have been  deposited in the Escrow  Account,  upon request
from,  Escrow Agent will confirm the amounts  collected by it from  subscribers'
checks.  If such  amount is at least equal to the  Minimum,  the may send Escrow
Agent a written notice providing a list of all accepted subscribers,  specifying
the total  amount of their  subscription  to be remitted  to, and  containing  a
request to terminate the Escrow  Period and remit such amount,  less any fees or
other amounts then owing from Issuer to Escrow Agent hereunder, to the Issuer as
promptly as possible,  but in no event later than ten (10)  Business  Days after
such  termination,  by  issuing  its bank  check  payable  to the  Issuer  or by
depositing  such amount  directly into the account of Issuer if maintained  with
Wells Fargo Bank,  National  Association,  as designated in writing by Issuer to
Escrow Agent. The Escrow Period shall not terminate upon receipt by Escrow Agent
of such notice, but shall continue for such (10) Business-Day  period solely for
the limited purposes of collecting  subscribers' checks that have been deposited
prior to Escrow  Agent's  receipt of such notice and  disbursing  funds from the
Escrow  Account as provided  herein.  Escrow  Agent will not accept  deposits of
subscribers' checks after receipt of such notice.

                  If, on the  Cessation  Date,  the Minimum  Amount has not been
deposited with the Escrow Agent and collected,  or if Issuer notifies the Escrow
Agent in writing  that Issuer  elects to  terminate  the Offering as provided in
paragraph 3(c) above,  the Escrow Agent shall then issue and mail one bank check
in the full amount of the escrow  account to the Placement  Agent who will write
and mail checks to the subscribers in the amount of the subscribers'  respective
checks,  without  deduction,  penalty  or expense  to the  subscriber.  For this
purpose,  Placement  Agent  shall  be  authorized  to rely  upon the  names  and
addresses of subscribers as furnished by the Issuer. No subscriber shall be paid
interest with respect to such  deposited  funds.  The purchase money returned to
each subscriber  shall be free and clear of any and all claims of the Issuer and
any of its creditors.  For each  subscription for which the Escrow Agent has not
collected funds but has submitted the  subscriber's  check for  collection,  the
Escrow Agent shall include in its check to the Placement Agent the amount of the
collected  funds  from  such  subscriber's  check  after  the  Escrow  Agent has
collected such funds.  If Escrow Agent has not yet submitted  such  subscriber's
check for  collection,  the Escrow Agent shall promptly  remit the  subscriber's
check directly to the Placement Agent to mail directly to subscriber.

                  At such time as Escrow  Agent shall have made the payments and
remittances  provided in the  Agreement,  the Escrow  Agent shall be  completely
discharged and released of any and all further liabilities and  responsibilities
hereunder.
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<PAGE>
         6. As consideration  for its agreement to act as Escrow Agent as herein
described,  Issuer  agrees  to pay the  Escrow  Agent an  administration  fee of
$5,000.00  upon  execution  of this  Agreement,  plus the fees  described on the
attached fee  schedule.  Further,  Issuer  agrees to pay all  disbursements  and
advances  incurred  or made by the  Escrow  Agent in  performance  of its duties
hereunder, including reasonable fees, expenses and disbursements of its counsel,
all in accordance with the attached fee schedule or the other provisions of this
Agreement.  No such fees or reimbursements shall be paid out of or chargeable to
the funds on deposit in the Escrow  Account  until such time as the  Minimum has
been collected.

         If the Issuer  rejects  any  subscription  for which  Escrow  Agent has
already collected funds, the Escrow Agent shall promptly issue a refund check to
the rejected  subscriber in the amount of the subscriber's  check. If the Issuer
rejects any  subscription for which the Escrow Agent has not yet collected funds
but has submitted the subscriber's check for collection,  the Escrow Agent shall
promptly  issue  a  check  in  the  amount  of  the  collected  funds  from  the
subscriber's check to the rejected subscriber after the Escrow Agent has cleared
such funds. If Escrow Agent has not yet submitted a rejected  subscriber's check
for  collection,  the Escrow Agent shall promptly remit the  subscriber's  check
directly to the subscriber.

         7. This Agreement shall automatically terminate upon the earlier of (i)
twenty  (20) days after the  Cessation  Date or (ii)  twenty (20) days after the
date upon  which the  Escrow  Agent has  delivered  the final  portion of Escrow
Account funds pursuant to the terms of this Agreement.

         8. It is understood  that the Escrow Agent reserves the right to resign
as  Escrow  Agent at any  time by  giving  written  notice  of its  resignation,
specifying the effective date thereof, to each other party hereto. Within thirty
(30) days after  receiving  the  aforesaid  notice,  the other  party or parties
hereto  shall  appoint a successor  Escrow  Agent to which the Escrow  Agent may
distribute the property then held hereunder,  less its fees,  costs and expenses
(including counsel fees and expenses) which may remain unpaid at that time. If a
successor  Escrow  Agent  has not  been  appointed  and has  not  accepted  such
appointment  by the end of such  thirty (30) day  period,  the Escrow  Agent may
apply to a court of competent  jurisdiction  for the  appointment of a successor
Escrow Agent and the fees, costs and expenses (including reasonable counsel fees
and expenses) which it incurs in connection with such a proceeding shall be paid
by the Company.

         9. The parties hereto agree that the following provisions shall control
with respect to the rights,  duties,  liabilities,  privileges and immunities of
the Escrow Agent:

                  (a)      Escrow Agent  shall have  no obligation to invest the
                           Escrow Account.

                  (b)      The Escrow Agent shall have no responsibility  except
                           for  the  safekeeping  and  delivery  of the  amounts
                           deposited  in  the  Escrow Account in accordance with
                           this  Agreement. The Escrow Agent shall not be liable
                           for  any  act  done or  omitted to be done under this

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<PAGE>
                           Agreement or in connection with the amounts deposited
                           in  the  Escrow  Account,  except  as a result of the
                           Escrow    Agent's   gross    negligence   or  willful
                           misconduct. The Escrow Agent is not a party to nor is
                           it  bound  by, nor need it give  consideration to the
                           terms  of  provisions  of,  even  though  it may have
                           knowledge  of,  (i)  any agreement or undertaking by,
                           between  or  among  the  Issuer and any other  party,
                           except  this  Agreement,  (ii)   any   agreement   or
                           undertaking  that may be evidenced by this Agreement,
                           (iii)  any  other  agreements  that may now or in the
                           future   be   deposited  with  the  Escrow  Agent  in
                           connection  with this  Agreement.  The  Escrow  Agent
                           is not a  party to, is not responsible for, and makes
                           no representation with respect to the offer,  sale or
                           distribution  of  the  Shares   including,   but  not
                           limited   to,   matters  set  forth  in  any offering
                           documents prepared and distributed in connection with
                           the offer, sale and distribution  of the Shares.  The
                           Issuer covenants that it will not commence any action
                           against  the  Escrow   Agent  at  law, in equity,  or
                           otherwise as a result of  any  action  taken or thing
                           done by the Escrow Agent pursuant to this  Agreement,
                           or for any  disbursement  made as authorized   herein
                           upon failure of the Issuer to give the notice  within
                           the times herein prescribed.  The Escrow Agent has no
                           duty  to determine  or  inquire into any happening or
                           occurrence  of  or  of any  performance or failure of
                           performance of the Issuer or of  any other party with
                           respect to  agreements or arrangements with any other
                           party. If any question,dispute or disagreement arises
                           among the parties hereto  and/or any other party with
                           respect to the funds deposited in the Escrow  Account
                           or the proper interpretation of this  Agreement,  the
                           Escrow  Agent shall not be  required to act and shall
                           not  be  held  liable  for  refusal  to act until the
                           question or dispute is settled,  and the Escrow Agent
                           has the absolute right at its discretion to do either
                           or both of the following:

                           (i)      withhold and/or stop all further performance
                                    under this Agreement  until the Escrow Agent
                                    is  satisfied,   by  receipt  of  a  written
                                    document in form and substance  satisfactory
                                    to the Escrow Agent and executed and binding
                                    upon all interested  parties hereto (who may
                                    include the subscribers), that the question,
                                    dispute,  or disagreement had been resolved;
                                    or

                           (ii)     file a suit in  interpleader  and  obtain by
                                    final  judgment,  rendered  by  a  court  of
                                    competent jurisdiction, an order binding all
                                    parties  interested  in the  matter.  In any
                                    such suit, or should the Escrow Agent become
                                    involved   in   litigation   in  any  manner
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<PAGE>
                                    whatsoever  on account of this  Agreement or
                                    the Escrow  Account,  the Escrow Agent shall
                                    be entitled  to recover  from the Issuer its
                                    attorneys' fees and costs.

                           The Escrow  Agent  shall  never be required to post a
                           bond in connection with any services  hereunder.  The
                           Escrow  Agent may  consult  with  counsel  of its own
                           choice and shall have full and complete authorization
                           and  protection  for and shall not be liable  for any
                           action  taken or  suffered  by it  hereunder  in good
                           faith and believed by it to be authorized hereby, nor
                           for action taken or omitted by it in accordance  with
                           the advice of such  counsel (who shall not be counsel
                           for the Issuer).

                  (c)      The  Escrow  Agent  shall be  obligated  only for the
                           performance  of such duties as are  specifically  set
                           forth in this  Agreement  and may  rely and  shall be
                           protected  in acting or  refraining  from acting upon
                           any written notice,  instruction or request furnished
                           to it hereunder  and believed by it to be genuine and
                           to have been signed or  presented by the proper party
                           or parties  and to take  statements  made  therein as
                           authorized and correct without any  affirmative  duty
                           of investigation.

                  (d)      The  Issuer  hereby  agrees  to  indemnify the Escrow
                           Agent for, and to hold it harmless against, any loss,
                           liability, or expense (including, without limitation,
                           all legal expenses  incurred  in enforcing any of the
                           provisions   of   this   Agreement  or  otherwise  in
                           connection   herewith)    incurred    without   gross
                           negligence or willful  misconduct on the  part of the
                           Escrow Agent,  arising out of or in  connection  with
                           its entering into this Agreement and carrying out its
                           duties  hereunder,  including  the costs and expenses
                           of defending itself  against  any claim of  liability
                           hereunder  or arising  out of or in  connection  with
                           the sale of the Shares. This covenant  shall  survive
                           the  termination of this Agreement.

                  (e)      The   Escrow   Agent   shall  not  be  bound  by  any
                           modification,  amendment, termination,  cancellation,
                           rescission or supersession  of this Agreement  unless
                           the same shall be in writing and signed by all of the
                           other  parties  hereto  and,  if its duties as Escrow
                           Agent hereunder are affected thereby, unless it shall
                           have given prior written consent thereto.

                  (f)      Escrow  Agent  shall  not be liable  for any  damage,
                           loss,  liability,   or  delay  caused  by  accidents,
                           strikes, fire, flood, war, riot, equipment breakdown,
                           electrical or mechanical failure,  acts of God or any
                           cause which is reasonably  unavoidable  or beyond its
                           reasonable control.
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<PAGE>
         10. Notices  required to be sent hereunder  shall be delivered by hand,
sent by an express mail service or sent via United States mail, postage prepaid,
certified, return receipt requested, or via facsimile:
to the following address:

                  If to Placement Agent:    RH Investment Corporation
                                            15760 Ventura Boulevard
                                            Suite 1732
                                            Encino, CA 91436
                                              Attention:     Stuart Greenberg
                                                             Bruce C. Haapala

                  If to Issuer:             Roex, Inc.
                                            2081 Business Center Drive
                                            Suite 185
                                            Irvine, CA 92612
                                              Attention:  Rod Burreson

                  If to Escrow Agent        Wells Fargo Bank, NA
                                            Corporate Trust Services
                                            707 Wilshire Blvd. 17th Floor
                                            Los Angeles, CA   90017
                                              Attention:  Kimberly A. Vann
                                              Phone:  213-614-3352
                                              Fax:   213-614-3355

                  No notice to the Escrow  Agent shall be deemed to be delivered
until actually  received by the Escrow Agent. From time to time any party hereto
may designate an address other than the address listed above by giving the other
parties  hereto  not less than five (5) days  advance  notice of such  change in
address in accordance with the provisions hereof.

         11. This Agreement  shall be construed,  enforced and  administered  in
accordance with the laws of the State of California.

         12. This Agreement may be executed in two or more counterparts,  all of
which when taken  together  shall be considered  one and the same  agreement and
shall  become  effective  when  counterparts  have been signed by each party and
delivered to the other  party,  it being  understood  that both parties need not
sign the same  counterpart.  In the event that any  signature  is  delivered  by
facsimile  transmission,  such  signature  shall  create  a  valid  and  binding
obligation  of the  party  executing  (or on  whose  behalf  such  signature  is
executed) the same with the same force and effect as if such facsimile signature
page were an original thereof.

              [the remainder of this page left intentionally blank]

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<PAGE>
EXECUTED on the date first written above.

                                        ISSUER:
                                        Roex, Inc.

                                        By:      /s/ Rodney H. Burreson
                                                 -----------------------
                                        Name:    Rodney H. Burreson
                                        Title:   President

                                        ESCROW AGENT:
                                        Wells Fargo Bank, National Association

                                        By:      /s/ Kimberly A. Vann
                                                 -----------------------
                                        Name:    Kimberly A. Vann
                                        Title:   Trust Officer

                                        PLACEMENT AGENT:
                                        RH Investment Corporation

                                        By:      /s/ Stuart Greenberg
                                                 -----------------------
                                        Name:    Stuart Greenberg
                                        Title:   Managing Director

                                       44
                                      110================================================================

                            MERCHANTONLINE.COM, INC.
                           2000 EQUITY INCENTIVE PLAN

        ================================================================

           AS APPROVED BY THE BOARD OF DIRECTORS ON FEBRUARY 21, 2000

         1.   PURPOSE. The purpose of the MerchantOnline.com, Inc. 2000 Equity
Incentive Plan (the "Plan") is to advance the interests of MerchantOnline.com,
Inc., a Florida corporation and its subsidiaries (the "Company"), by providing
an additional incentive to attract, retain and motivate highly qualified and
competent persons who are key to the Company, and upon whose efforts and
judgment the success of the Company and its subsidiaries is largely dependent,
including key employees, consultants, independent contractors, advisory board
members, officers and directors, by authorizing the grant of awards of Common
Stock and options to purchase Common Stock of the Company to persons who are
eligible to participate hereunder, thereby encouraging stock ownership in the
Company by such persons, all upon and subject to the terms and conditions of
this Plan.

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

              (a)  "Award" means any grant or sale pursuant to the Plan of
Options, Restricted Stock, or Stock Grants.

              (b)  "Award Agreement" means an agreement between the Company and
the recipient of an Award, setting forth the terms and conditions of the Award.

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

              (d)  "Cause" shall mean any of the following:

                   (i)     a determination by the Company that there has been a
willful, reckless or grossly negligent failure by the Participant to perform his
or her duties as an employee of the Company;

                   (ii)    a determination by the Company that there has been a
willful breach by the Optionee of any of the material terms or provisions of any
employment agreement between such Optionee and the Company;

                   (iii)   any conduct by the Optionee that either results in
his or her conviction of a felony under the laws of the United States of America
or any state thereof;

                   (iv)    a determination by the Company that the Optionee has
committed an act or acts involving fraud, embezzlement, misappropriation, theft,
breach of fiduciary duty or material dishonesty against the Company, its
properties or its personnel;

                   (v)     a determination by the Company that there has been a
willful, reckless or grossly negligent failure by the Optionee to comply with
any rules, regulations, policies or procedures of the Company, or that the
Optionee has engaged in any act, behavior or conduct demonstrating a deliberate

<PAGE>
and material violation or disregard of standards of behavior that the Company
has a right to expect of its employees; or

                   (vi)    if the Optionee, while employed by the Company and
for two years thereafter (or such shorter period as may be stated in any
employment, confidentiality or noncompete agreement with the Optionee), violates
a confidentiality and/or noncompete agreement with the Company, or fails to
safeguard, divulges, communicates, uses to the detriment of the Company or for
the benefit of any person or persons, or misuses in any way, any Confidential
Information;

provided, however, that, if the Optionee has entered into a written employment
agreement with the Company which remains effective and which expressly provides
for a termination of such Optionee's employment for "cause," the term "Cause"
for purposes of this Plan shall have the meaning as set forth in the Optionee's
employment agreement in lieu of the definition of "Cause" set forth in this
Section 2(d).

              (e)  "Change of Control" shall mean the acquisition by any person
or group (as that term is defined in the Securities Exchange Act of 1934 (the
"Exchange Act"), and the rules promulgated pursuant to that act) in a single
transaction or a series of transactions of 40% or more in voting power of the
outstanding stock of the Company and a change of the composition of the Board of
Directors so that, within one year after the acquisition took place, a majority
of the members of the Board of Directors of the Company, or of any corporation
with which the Company may be consolidated or merged, are persons who were not
directors or officers of the Company or one of its Subsidiaries immediately
prior to the acquisition, or to the first of a series of transactions which
resulted in the acquisition of 40% or more in voting power of the outstanding
stock of the Company.

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

              (g)  "Committee" shall mean the stock option or compensation
committee appointed by the Board or, if not appointed, the Board.

              (h)  "Common Stock" shall mean the Company's Common Stock, par
value $.001 per share.

              (i)  "Confidential Information" shall mean any and all information
pertaining to the Company's financial condition, clients, customers, prospects,
sources of prospects, customer lists, trademarks, trade names, service marks,
service names, "know-how," trade secrets, products, services, details of client
or consulting contracts, management agreements, pricing policies, operational
methods, site selection, results of operations, costs and methods of doing
business, owners and ownership structure, marketing practices, marketing plans
or strategies, product development techniques or plans, procurement and sales
activities, promotion and pricing techniques, credit and financial data
concerning customers and business acquisition plans, that is not generally
available to the public.

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

                                       2
<PAGE>
              (k)  "Employee" shall mean any person, including Officers,
Directors, consultants and independent contractors, who is either employed or
engaged by the Company or any parent or Subsidiary of the Company within the
meaning of Code Section 3401(c) or the regulations promulgated thereunder. For
purposes of any Non-Qualified Option only, any Officer or Director of the
Company shall be considered an Employee even if he or she is not an employee
with the meaning of the first sentence of this section.

              (l)  "Fair Market Value" of a Share on any date of reference shall
be the Closing Price of a share of Common Stock on the business day immediately
preceding such date, unless the Committee in its sole discretion shall determine
otherwise in a fair and uniform manner. For this purpose, 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 United States national securities exchange, the
last reported sale price of the Common Stock on such exchange or reporting
system, as reported in any newspaper of general circulation, (ii) if the Common
Stock is quoted on Nasdaq or any similar system of automated dissemination of
quotations of securities prices in common use, the closing sales price or, if
not available the mean between the closing high bid and low asked quotations for
such day of the Common Stock on such system, or (iii) if neither clause (i) nor
(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
the Common Stock on at least five of the 10 preceding days. If the information
set forth in clauses (i) through (iii) above is unavailable or inapplicable to
the Company (e.g., if the Company's Common Stock is not then publicly traded or
quoted), then the "Fair Market Value" of a Share shall be the fair market value
(i.e., the price at which a willing seller would sell a Share to a willing buyer
when neither is acting under compulsion and when both have reasonable knowledge
of all relevant facts) of a share of the Common Stock on the business day
immediately preceding such date as the Committee in its sole and absolute
discretion shall determine in a fair and uniform manner.

              (m)  "Grant Date" means the date as of which an Option is granted,
as determined under Section 4(a)(i).

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

              (o)  "Non-Employee Directors" shall have the meaning set forth in
Rule 16b-3(b)(3)(i) under the Securities Exchange Act of 1934, as amended.

              (p)  "Non-Statutory Stock Option" or "Nonqualified Stock Option"
shall mean an Option which is not an Incentive Stock Option.

              (q)  "Officer" shall mean the Company's chairman, chief executive
officer, president, principal financial officer, principal accounting officer
(or, if there is no such accounting officer, the controller), 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

                                       3
<PAGE>
policy-making functions that are not significant. Unless specified otherwise in
a resolution by the Board, an "executive officer" pursuant to Item 401(b) of
Regulation S-K (17 C.F.R. ss.229.401(b)) shall be only such person designated as
an "Officer" pursuant to the foregoing provisions of this paragraph.

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

              (s)  "Optionee" shall mean a Participant to whom an 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.

              (t)  Participant means any holder of an outstanding Award under
the Plan.

              (u)  "Plan" shall mean this 2000 Equity Incentive Plan of the
Company, which Plan shall be effective upon approval by the Board, subject to
approval, within 12 months of the date thereof by holders of a majority of the
Company's issued and outstanding Common Stock of the Company.

              (v)  "Restricted Stock" means a grant or sale of shares of Common
Stock to the Participant subject to a Risk of Forfeiture.

              (w)  "Restriction Period" means the period of time during which
any grant of Restricted Stock remains at Risk of Forfeiture as described in
Section 4(d) and the applicable Award Agreement.

              (x)  "Risk of Forfeiture" means a limitation on the right of the
Participant to retain an Award of Restricted Stock, including a right in the
Company to reacquire the Shares at less than their then Fair Market Value,
arising because of the occurrence or non-occurrence of specified events or
conditions.

              (y)  Stock Grant means the grant of shares of Common Stock not
subject to restrictions or other forfeiture conditions.

              (z)  "Securities Act" shall mean the Securities Act of 1933, as
amended.

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

              (bb) "Share" or "Shares" shall mean a share or shares, as the case
may be, of the Common Stock, as adjusted in accordance with Section 10 of this
Plan.

              (cc) "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% or more of the
total combined voting power of all classes of stock in one of the other
corporations in such chain.

                                       4
<PAGE>
              (dd) Ten Percent Owner means a person who owns, or is deemed
within the meaning of Section 422(b)(6) of the Code to own, stock possessing
more than 10% of the total combined voting power of all classes of stock of the
Company. Whether a person is a Ten Percent Owner shall be determined with
respect to each Option based on the facts existing immediately prior to the
grant date of such Option.

         3.  SHARES AND OPTIONS. At no time shall the number of shares of Common
Stock issued pursuant to or subject to outstanding Awards granted under the Plan
exceed 5,000,000 shares of Common Stock; subject, however, to the provisions of
Section 10 of the Plan. Shares of Common Stock issued pursuant to the Plan may
be either authorized but unissued shares or shares held by the Company in its
treasury. For purposes of applying the foregoing limitation, if any Option
expires, terminates, or is cancelled for any reason without having been
exercised in full, or any Award of Restricted Stock should be forfeited by the
recipient thereof, the shares not purchased by the Optionee or forfeited by such
a recipient shall again be available for Awards thereafter to be granted under
the Plan. If any Option granted under this Plan shall terminate, expire, or be
canceled, forfeited or surrendered as to any Shares, the Shares relating to such
lapsed Option shall be available for issuance pursuant to new Options
subsequently granted under this Plan. Upon the grant of any Option hereunder,
the authorized and unissued Shares to which such Option relates shall be
reserved for issuance to permit exercise under this Plan. An Option granted
hereunder shall be either an Incentive Stock Option or a Non-Statutory Stock
Option as determined by the Committee at the time of grant of such Option and
shall clearly state whether it is an Incentive Stock Option or Non-Statutory
Stock Option. All Incentive Stock Options shall be granted within 10 years from
the effective date of this Plan. Awards of Incentive Options granted prior to
shareholder approval of the Plan are hereby expressly conditioned upon such
approval, but in the event of the failure of the shareholders to approve the
Plan shall thereafter and for all purposes be deemed to constitute Non-Statutory
Options.

         4.   SPECIFIC TERMS OF AWARDS.

              (a)  OPTIONS.

                   (i)     DATE OF GRANT. The granting of an Option shall take
place at the time specified in the Award Agreement. Only if expressly so
provided in the applicable Award Agreement shall the Grant Date be the date on
which the Award Agreement shall have been duly executed and delivered by the
Company and the Optionee.

                   (ii)    EXERCISE PRICE. The price at which shares may be
acquired under each Incentive Option shall be not less than 100% of the Fair
Market Value of Common Stock on the Grant Date, or not less than 110% of the
Fair Market Value of Common Stock on the Grant Date if the Optionee is a Ten
Percent Owner. The price at which shares may be acquired under each
Non-Statutory Option shall not be so limited solely by reason of this Section.

                   (iii)   OPTION PERIOD. No Incentive Option may be exercised
on or after the tenth anniversary of the Grant Date, or on or after the fifth
anniversary of the Grant Date if the Optionee is a Ten Percent Owner. The Option
period under each Non-Statutory Option shall not be so limited solely by reason
of this Section.

                                       5
<PAGE>

                   (iv)    EXERCISABILITY. An Option may be immediately
exercisable or become exercisable in such installments, cumulative or
non-cumulative, as the Committee may determine. In the case of an Option not
otherwise immediately exercisable in full, the Committee may accelerate the
exercisability of such Option in whole or in part at any time, provided the
acceleration of the exercisability of any Incentive Option would not cause the
Option to fail to comply with the provisions of Section 422 of the Code.

                   (v)     TERMINATION OF ASSOCIATION WITH THE COMPANY. Unless
the Committee shall provide otherwise in the grant of a particular Option under
the Plan, if the Optionee's employment or other association with the Company and
its Affiliates is terminated, whether voluntarily or otherwise, any outstanding
Option of the Optionee shall cease to be exercisable in any respect not later
than ninety (90) days following such termination and, for the period it remains
exercisable following termination, shall be exercisable only to the extent
exercisable at the date of termination, provided that if the termination is for
Cause, then the Option shall terminate on the date of termination. Military,
sick or other bona fide leave shall not be deemed a termination of employment or
other association, provided that it does not exceed the longer of ninety (90)
days or the period during which the absent Optionee's reemployment rights, if
any, are guaranteed by statute or by contract. The Committee in its sole
discretion may, by giving written notice ("cancellation notice"), cancel
effective upon the date of the consummation of any corporate transaction
described in Subsection 5(c) hereof, any Option that remains unexercised on such
date. Such cancellation notice shall be given a reasonable period of time prior
to the proposed date of such cancellation and may be given either before or
after approval of such corporate transaction.

                   (vi)    EXERCISE OF OPTION. An Option may be exercised by the
Optionee giving written notice, to the Company, specifying the number of shares
with respect to which the Option is then being exercised. The notice shall be
accompanied by payment in the form of cash, or certified or bank check payable
to the order of the Company in an amount equal to the exercise price of the
shares to be purchased or, if the Committee had so authorized on the grant of
any particular Option hereunder (and subject such conditions, if any, as the
Committee may deem necessary to avoid adverse accounting effects to the Company)
by delivery of shares of Common Stock held at least six (6) months which have a
Fair Market Value equal to the exercise price of the shares to be purchased.
Payment of any exercise price may also be made through and under the terms and
conditions of any formal cashless exercise program maintained by the Company if
the Stock becomes traded on an established market. Receipt by the Company of
such notice and payment shall constitute the exercise of the Option. Within 30
days thereafter but subject to the remaining provisions of the Plan, the Company
shall deliver or cause to be delivered to the Optionee or his agent a
certificate or certificates for the number of shares then being purchased. Such
shares shall be fully paid and nonassessable.

                   (vii)   LIMIT ON INCENTIVE OPTION CHARACTERIZATION. An
Incentive Option shall be considered to be an Incentive Option only to the
extent that the number of shares of Common Stock for which the Option first
becomes exercisable in a calendar year do not have an aggregate Fair Market
Value (as of the date of the grant of the Option) in excess of the "current
limit". The current limit for any Optionee for any calendar year shall be
$100,000 minus the aggregate Fair Market Value at the date of grant of the
number of shares of Common Stock available for purchase for the first time in
the same year under each other Incentive Option previously granted to the
Optionee under the Plan, and under each other incentive stock option previously

                                       6
<PAGE>

granted to the Optionee under any other incentive stock option plan of the
Company and its Affiliates. Any shares of Common Stock which would cause the
foregoing limit to be violated shall be deemed to have been granted under a
separate Non-Statutory Option, otherwise identical in its terms to those of the
Incentive Option.

                   (viii)  NOTIFICATION OF DISPOSITION. Each person exercising
any Incentive Option granted under the Plan shall be deemed to have covenanted
with the Company to report to the Company any disposition of such shares prior
to the expiration of the holding periods specified by Section 422(a)(1) of the
Code and, if and to the extent that the realization of income in such a
disposition imposes upon the Company federal, state, local or other withholding
tax requirements, or any such withholding is required to secure for the Company
an otherwise available tax deduction, to remit to the Company an amount in cash
sufficient to satisfy those requirements.

                   (ix)    OTHER CONDITIONS. In granting Options, the Committee
shall take into consideration the contribution the person has made, or is
expected to make, to the success of the Company or its Subsidiaries and such
other factors as the Committee shall determine. The Committee 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 may from time to time in granting Options under this Plan
prescribe such terms and conditions concerning such Options as it deems
appropriate, including, without limitation, (i) the exercise price or prices of
the Option or any installments thereof, (ii) prescribing the date or dates on
which the Option becomes and/or remains exercisable, (iii) providing that the
Option vests or becomes exercisable in installments over a period of time,
and/or upon the attainment of certain stated standards, specifications or goals,
(iv) relating an Option to the continued employment of the Optionee for a
specified period of time, or (v) conditions or termination events with respect
to the exercisability of any Option, provided that such terms and conditions are
not more favorable to an Optionee than those expressly permitted herein;
provided, however, that to the extent not canceled pursuant to Section 4(a)(v)
hereof, upon a Change of Control, any Options that have not yet vested shall
vest upon such Change of Control. 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 this Plan nor any Option granted under this Plan shall confer upon any
person any right to employment or continuance of employment (or related salary
and benefits) by the Company or its Subsidiaries.

              (b)  RESTRICTED STOCK.

                   (i)     PURCHASE PRICE. Shares of Restricted Stock shall be
issued under the Plan for such consideration, in cash, other property or
services, as is determined by the Committee.

                   (ii)    ISSUANCE OF CERTIFICATES. Each Participant receiving
a Restricted Stock Award, subject to subsection (iii) below, shall be issued a
stock certificate in respect of such shares of Restricted Stock. Such
certificate shall be registered in the name of such Participant, and, if
applicable, shall bear an appropriate legend referring to the terms, conditions,
and restrictions applicable to such Award substantially in the following form:

                                       7
<PAGE>

         "The transferability of this certificate and the shares represented by
         this certificate are subject to the terms and conditions of
         MerchantOnline.com, Inc. 2000 Equity Incentive Plan and an Award
         Agreement entered into by the registered owner and MerchantOnline.com,
         Inc. Copies of such Plan and Agreement are on file in the offices of
         MerchantOnline.com, Inc."

                   (iii)   ESCROW OF SHARES. The Committee may require that the
stock certificates evidencing shares of Restricted Stock be held in custody by a
designated escrow agent (which may but need not be the Company) until the
restrictions thereon shall have lapsed, and that the Participant deliver a stock
power, endorsed in blank, relating to the Stock covered by such Award.

                   (iv)    Restrictions and Restriction Period. During the
period established by the Committee and set forth in the Award Agreement, i.e.,
the Restriction Period, Restricted Stock shall be subject to limitations on
transferability and a Risk of Forfeiture (which may take the form of a right of
the Company to repurchase the Restricted Stock for such consideration, if any,
as the Committee shall have determined at grant) arising on the basis of such
conditions, related to the performance of services, Company or Affiliate
performance or otherwise, as the Committee may determine. Any such Risk of
Forfeiture may be waived, or the Restriction Period shortened, at any time by
the Committee on such basis as it deems appropriate.

                   (v)     RIGHTS PENDING LAPSE OF RISK OF FORFEITURE OR
FORFEITURE OF AWARD. Except as otherwise provided in the Plan, at all times
prior to lapse of any Risk of Forfeiture applicable to, or forfeiture of, an
Award of Restricted Stock, the Participant shall have all of the rights of a
stockholder of the Company, including the right to vote the shares, and the
right to receive any dividends with respect to the shares of Restricted Stock.
The Committee, as determined at the time of Award, may permit or require the
payment of cash dividends to be deferred and, if the Committee so determines,
reinvested in additional Restricted Stock to the extent shares are available
under Section 3.

                   (vi)    EFFECT OF TERMINATION OF EMPLOYMENT OR ASSOCIATION.
Unless otherwise determined by the Committee at or after grant and subject to
the applicable provisions of the Award Agreement, upon termination of a
Participant's employment or other association with the Company and its
Affiliates for any reason during the Restriction Period, all shares of
Restricted Stock still subject to Risk of Forfeiture shall be forfeited or
subject to the Company's right of repurchase (as determined from the form of the
Risk of Forfeiture); provided, however, that military, sick or other bona fide
leave shall not be deemed a termination of employment or other association, if
it does not exceed the longer of ninety (90) days or the period during which the
absent Participant's reemployment rights, if any, are guaranteed by statute or
by contract.

                   (vii)   LAPSE OF RESTRICTIONS. If and when the Restriction
Period expires without a prior forfeiture of the Restricted Stock, the
certificates for such shares shall be delivered to the Participant promptly if
not theretofore so delivered.

              (c)  STOCK GRANTS. Stock Grants shall be awarded solely in
recognition of significant contributions to the success of the Company or its

                                       8
<PAGE>

Affiliates, in lieu of compensation otherwise already due and in such other
limited circumstances as the Committee deems appropriate. Stock Grants shall be
made without forfeiture conditions of any kind.

         5.   ADJUSTMENT OF SHARES.

              (a)  STOCK DIVIDEND, ETC. In the event of any distribution on
Stock payable in Stock or any split-up or contraction in the number of shares of
Stock after the date of an Award Agreement evidencing an Award, the remaining
number of shares of Stock subject to such Award and the price to be paid for any
share subject to the Award, if any, shall be proportionately adjusted.

              (b)  STOCK RECLASSIFICATION. In the event of any reclassification
or change of outstanding shares of Stock, immediately thereafter (and subject to
further adjustment for subsequent events) any outstanding Award shall thereafter
relate to shares of stock or other securities equivalent in kind and value to
those shares which the Participant would have received if he or she had held of
record the full remaining number of shares of Stock subject to the Award
immediately prior to such reclassification or change.

              (c)  CONSOLIDATION OR MERGER. Subject to the remainder of this
Section 5(c), in the event of any consolidation or merger of the Company with or
into another company or in case of any sale or conveyance to another company or
entity of the property of the Company as a whole or substantially as a whole,
immediately thereafter (and subject to further adjustment for subsequent events)
any outstanding Award shall thereafter relate to shares of stock or other
securities equivalent in kind and value to those shares and other securities the
Participant would have received if he or she had held of record the full
remaining number of shares of Stock subject to the Award immediately prior to
such consolidation, merger, sale or conveyance. However, unless any Award
Agreement evidencing the grant of an Option shall provide different or
additional terms, in any such transaction the Committee, in its discretion, may
provide instead that any outstanding Option shall terminate, to the extent not
exercised by the Optionee prior to termination, either (a) at the close of a
period of not less than ten (10) days specified by the Committee and commencing
on the Committee's delivery of written notice to the Optionee of its decision to
terminate such Option without payment of consideration as provided in the
following clause or (b) as of the date of the transaction, in consideration of
the Company's payment to the Optionee of an amount of cash equal to difference
between the aggregate Fair Market Value of the shares of Stock for which the
Option is then exercisable and the aggregate exercise price for such shares
under the Option.

              (d)  OTHER. In the event of any corporate action not specifically
covered by the preceding Sections, including but not limited to an extraordinary
cash distribution on Stock, a corporate separation or other reorganization or
liquidation, the Committee may make such adjustment of outstanding Awards and
their terms, if any, as it, in its sole discretion, may deem equitable and
appropriate in the circumstances.

              (e)  RELATED MATTERS. Any adjustment in Awards made pursuant to
this Section 5 shall be determined and made, if at all, by the Committee and
shall include any correlative modification of terms, including of option
exercise prices, Risks of Forfeiture and applicable repurchase prices for

                                       9
<PAGE>

Restricted Stock, which the Committee may deem necessary or appropriate so as to
ensure the rights of the Participants in their respective Awards are not
substantially diminished nor enlarged as a result of the adjustment and
corporate action. No fraction of a share shall be purchasable or deliverable
upon exercise, but in the event any adjustment hereunder of the number of shares
covered by an Award shall cause such number to include a fraction of a share,
such number of shares shall be adjusted to the nearest smaller whole number of
shares. In the event of changes in the outstanding Stock by reason of any stock
dividend, split-up, contraction, reclassification, or change of outstanding
shares of Stock of the nature contemplated by this Section 5, the number and
kind of shares of Stock available for the purposes of the Plan as stated in
Section 3 shall be correspondingly adjusted.

              (f)  Except as otherwise expressly provided herein, the issuance
by the Company of shares of its capital stock of any class, or securities
convertible into or exchangeable for shares of its capital stock of any class,
either in connection with a direct or underwritten sale or upon the exercise of
rights or warrants to subscribe therefor or purchase such Shares, 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 with respect to, the number of or exercise price of Shares then subject
to outstanding Options granted under this Plan.

              (g)  Without limiting the generality of the foregoing, the
existence of outstanding Awards granted under this Plan shall not affect in any
manner the right or power of the Company to make, authorize or consummate (i)
any or all adjustments, reclassifications, recapitalizations, reorganizations or
other changes in the Company's capital structure or its business; (ii) any
merger or consolidation of the Company or to which the Company is a party; (iii)
any issuance by the Company of debt securities, or preferred or preference stock
that would rank senior to or above the Shares subject to outstanding Awards;
(iv) any purchase or issuance by the Company of Shares or other classes of
Common Stock or common equity securities; (v) the dissolution or liquidation of
the Company; (vi) any sale, transfer, encumbrance, pledge or assignment of all
or any part of the assets or business of the Company; or (vii) any other
corporate act or proceeding, whether of a similar character or otherwise.

              (h)  The Participant shall receive written notice within a
reasonable time prior to the consummation of such action advising the
Participant of any of the foregoing. The Committee may, in the exercise of its
sole discretion, in such instances declare that any Option shall terminate as of
a date fixed by the Board and give each Optionee the right to exercise his or
her Option.

         6.   NONTRANSFERABILITY OF AWARDS. Except as otherwise provided in this
Section, Awards shall not be transferable, and no Award or interest therein may
be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated,
other than by will or by the laws of descent and distribution. All of a
Participant's rights in any Award may be exercised during the life of the
Participant only by the Participant or the Participant's legal representative.
However, the Committee may, at or after the grant of an Award of a Non-Statutory
Option or shares of Restricted Stock, provide that such Award may be transferred
by the recipient to an immediate family member; provided, however, that any such
transfer is without payment of any consideration whatsoever, that no transfer of
an Option shall be valid unless first approved by the Committee, acting in its
sole discretion, and that any Restricted Stock so transferred shall remain
subject to any applicable restriction on transfer and Risk of Forfeiture. For

                                       10
<PAGE>

this purpose, "immediate family member" means an individual's parents, siblings,
spouse and issue, spouses of such issue and any trust for the benefit of, or the
legal representative of, any of the preceding persons, or any partnership
substantially all of the partners of which are one or more of such persons or
the Participant.

         7.   ISSUANCE OF SHARES. As a condition of any sale or issuance of
Shares upon exercise of any Award, the Committee may require such agreements or
undertakings, if any, as the Committee may deem necessary or advisable to assure
compliance with any such law or regulation including, but not limited to, the
following:

                   (i)  a representation and warranty by the Participant to the
Company, at the time any Option is exercised or other Award granted, 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)  an agreement and undertaking to comply with all of
the terms, restrictions and provisions set forth in any then applicable
shareholders' or other agreement relating to the Shares, including, without
limitation, any restrictions on sale or transferability, any rights of first
refusal and any option of the Company to "call" or purchase such Shares under
then applicable agreements; and

                        (B)  any restrictive legend or legends, to be embossed
or imprinted on Share certificates, that are, in the discretion of the
Committee, necessary or appropriate to comply with the provisions of any
securities law or other restriction applicable to the issuance of the Shares.

         8.   ADMINISTRATION OF THIS PLAN.

              (a)  This Plan shall be administered by a Committee which shall
consist of not less than two Directors. In the event the Common Stock is listed
or admitted for trading on any United States national securities exchange or as
otherwise required by or advisable under any applicable laws, rules or
regulations, the Plan shall be administered by a Committee consisting of not
less than two Non-Employee Directors. The Committee shall have all of the powers
of the Board with respect to this Plan. Any member of the Committee may be
removed at any time, with or without cause, by resolution of the Board and any
vacancy occurring in the membership of the Committee may be filled by
appointment by the Board. In making such determinations, the Committee may take
into account the nature of the services rendered by the respective employees,
consultants, and directors, their present and potential contributions to the
success of the Company and its subsidiaries, and such other factors as the
Committee in its discretion shall deem relevant.

              (b)  Subject to the provisions of this Plan, the Committee shall
have the authority, in its sole discretion, to: (i) grant Awards, (ii) determine
the terms, conditions and provisions of each Award granted (which need not be
identical) and, with the consent of the holder thereof, modify or amend each
Award, (iii) determine the Participants to whom, and time or times at which,
Awards shall be granted, (iv) determine the number of Shares to be represented

                                       11
<PAGE>

by each Award, (v) defer (with the consent of the Optionee) or accelerate the
exercise date of any Option or vesting date of any Stock Grant, and (vi) make
all other determinations deemed necessary or advisable for the administration of
this Plan, including repricing, canceling and regranting Awards.

              (c)  The Committee, from time to time, may adopt rules and
regulations for carrying out the purposes of this Plan. The Committee's
determinations and its interpretation and construction of any provision of this
Plan shall be final, conclusive and binding upon all Participants and any
holders of any Awards granted under this Plan.

              (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 of the Committee or (ii) without a meeting by the unanimous written
approval of the members of the Committee.

              (e)  No member of the Committee, or any Officer or Director of the
Company or its Subsidiaries, shall be personally liable for any act or omission
made in good faith in connection with this Plan.

         9.   INTERPRETATION.

              (a)  This Plan shall be administered and interpreted so that all
Incentive Stock Options granted under this Plan will qualify as Incentive Stock
Options under Section 422 of the Code. If any provision of this Plan should be
held invalid for the granting of Incentive Stock Options or illegal for any
reason, such determination shall not affect the remaining provisions hereof, and
this Plan shall be construed and enforced as if such provision had never been
included in this Plan.

              (b)  This Plan shall be governed by the laws of the State of
Florida.

              (c)  Headings contained in this Plan are for convenience only and
shall in no manner be construed as part of this Plan or affect the meaning or
interpretation of any part of this Plan.

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

              (e)  Time shall be of the essence with respect to all time periods
specified for the giving of notices to the Company hereunder, as well as all
time periods for the expiration and termination of Options in accordance with
Section 9 hereof (or as otherwise set forth in an option agreement).

              (f)  It is intended that this Plan shall be administered in
accordance with the disinterested administration requirements of Rule 16b-3
promulgated by the Securities and Exchange Commission ("Rule 16b-3"), or any
successor rule thereto. To the extent any provision of this Plan or action by
the Committee fails to so comply, it shall be deemed null and void, to the
extent permitted by law and deemed advisable by the Committee. Notwithstanding
the above, it shall be the responsibility of each Optionee, not of the Company
or the Committee, to comply with the requirements of Section 16 of the
Securities Exchange Act; and neither the Company nor the Committee shall be
liable if this Plan or any transaction under this Plan fails to comply with the

                                       12
<PAGE>

applicable conditions of Rule 16b-3 or any successor rule thereto, or if any
such person incurs any liability under Section 16 of the Securities Exchange
Act.

         10.  MARKET STANDOFF OR LOCK-UP AGREEMENTS. Each Participant, if so
requested by the Company or any representative of the underwriters in connection
with any registration of the offering of any securities of the Company under the
Securities Act, shall not sell or otherwise transfer any shares of Common Stock
acquired pursuant to this Plan during the period as may be agreed to by the
Company and such underwriters (the "Lock-Up Period") following the effective
date of such registration. The Company may impose stop-transfer instructions
with respect to securities subject to the foregoing restriction until the end of
such Lock-Up Period.

         11.  AMENDMENT AND DISCONTINUATION OF THIS PLAN. Either the Board or
the Committee may from time to time amend this Plan or any Award without the
consent or approval of the shareholders of the Company; provided, however, that,
except to the extent provided in Section 9, no amendment or suspension of this
Plan or any Award issued hereunder shall substantially impair any Award
previously granted to any Participant without the consent of such Optionee.

         12.  TERMINATION DATE. This Plan shall terminate 10 years after the
date of adoption by the Board of Directors.

                                       13

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