Document:

<PAGE>

                                                                   EXHIBIT 10.18

                                SEMELE GROUP INC.

                        MALIBU INCENTIVE BONUS AGREEMENT

         1.01 SYNOPSIS. This document sets forth the agreement between Semele
Group Inc. (the "Company") and James A. Coyne and Gary D. Engle (the
"Participants") with respect to incentive bonuses payable to the Participants
that are attributable to the Company's property in Malibu, California (the
"Malibu Property") owned by BMIF BSLF II Rancho Malibu Limited Partnership, an
Illinois limited partnership (the "Partnership"), and is the separate written
agreement referred to in (i) Section 4.02 of the Incentive Compensation Plan,
effective as of December 30, 1997 (the "Plan"), established and maintained by
the Company to benefit the Participants and (ii) Section 5 of the Executive
Employment Agreement dated May 1, 1997, between the Company and James A. Coyne
and Section 5 of the Employment Agreement dated November 10, 1997, between the
Company and Gary D. Engle. The Plan is incorporated into and made a part of this
Agreement by reference.

         2.01     MALIBU INCENTIVE BONUS CONTRIBUTIONS.

                  (a) ANNUAL CONTRIBUTIONS. The Company shall contribute on
         account of each Participant an amount equal to 10% of the Malibu
         Revenues (for each fiscal year of the Partnership or the Company in
         which there are such Malibu Revenues). As used in this Section 2.01,
         Malibu Revenues shall mean amounts attributable to the Malibu Property
         received by the Partnership or the Company (excluding amounts received
         by the Company from the Partnership) from time to time in excess of the
         sum of (i) $9,961,991 (the book value of the Company's investment in
         the Partnership as reflected on the balance sheet of the Company at
         December 31, 1997), and (ii) the investment, including costs and
         expenses, made or incurred by the Company or the Partnership after such
         date in connection with the development of the Malibu Property
         (excluding attorney's fees and expenses incurred in connection with the
         settlement of litigation relating to the Malibu Property).

                  (b) CONTRIBUTIONS UPON TERMINATION OF EMPLOYMENT. In the event
         of the termination of employment of a Participant other than by the
         Company for Cause (as defined in Section 7.03 of the Participants'
         Employment Agreements with the Company), the Company shall contribute
         on account of such Participant an amount equal to 10% of the excess of
         the fair market value of the Malibu Property then owned by the
         Partnership over the sum of (i) the book value of the Company's
         investment in the Partnership as reflected on the balance sheet of the
         Company at the date of such termination and (ii) the investment,
         including costs and expenses, made or incurred by the Company or the
         Partnership after December 31, 1997, in connection with the development
         of the Malibu Property then owned by the Partnership (excluding such
         property's pro rata share of attorney's fees and expenses incurred in
         connection with the settlement of litigation relating to the Malibu
         Property).

<PAGE>

                  In the event of the termination of employment of a Participant
         voluntarily by the Participant, including upon the election by the
         Participant not to renew his Employment Agreement at the end of the
         Term or any Renewal Term as defined in such Employment Agreements, then
         notwithstanding any prior election made by the Participant, all amounts
         contributed on account of the Participant pursuant to this Section
         2.01(b) shall be contributed in the form of Company Stock.
         Notwithstanding anything in the Plan to the contrary, contributions of
         deferrals under this Section 2.01(b) shall be made as soon as
         reasonably practical, and not later than thirty (30) days following the
         date of the Participant's termination.

                  The fair market value of the Malibu Property then owned by the
         Partnership at any time shall be determined by an independent
         MAI-certified appraiser chosen by the Company and reasonably acceptable
         to the Participant and shall be based on the value of the Malibu
         Property to an arm's length purchaser as land with such permits as have
         then been obtained and such improvements as then exist.

         2.02 PLAN INCORPORATED BY REFERENCE. This Agreement does not set forth
all of the terms and conditions of the Plan, which is hereby incorporated into
and made a part of this Agreement by reference. This Agreement must be read
together with the Plan for a complete statement of the terms and conditions of
the Malibu incentive bonuses determined in accordance with this Agreement.

                                            SEMELE GROUP INC.

Dated:  May 20, 1999                        By: /s/ Joseph W. Bartlett
        ------------------                      --------------------------------
                                                Joseph W. Bartlett,
                                                Chairman, Compensation Committee

ACKNOWLEDGED AND AGREED:

/s/ Gary D. Engle
-------------------------------
Gary D. Engle

/s/ James A. Coyne
-------------------------------
James A. Coyne

                                      -2-<PAGE>

                                                                   Exhibit 10.1A

                        INCENTIVE STOCK OPTION AGREEMENT

                        UNDER THE PRIMIX SOLUTIONS, INC.
                                 1995 STOCK PLAN

      Pursuant to the Primix Solutions Inc. 1995 Stock Plan, as amended through
the date hereof (the "Plan"), Primix Solutions Inc. (the "Company") hereby
grants to the Optionee named in Exhibit A attached hereto an option (the "Stock
Option") to purchase on or prior to the Expiration Date specified in Exhibit A
all or part of the number of shares ("Option Shares") of Common Stock, par value
$.001 per share (the "Stock"), of the Company specified in Exhibit A at the
Option Exercise Price per Share specified in Exhibit A subject to the terms and
conditions set forth herein and in the Plan.

      1. Vesting Schedule. No portion of this Stock Option may be exercised
until such portion shall have vested. Except as set forth below, and subject to
the discretion of the Committee (as defined in paragraph 2 of the Plan) to
accelerate the vesting schedule hereunder, for so long as the Optionee is a
director of, or employed as an employee or officer of, or retained to render
services as a consultant of, the Company or a Related Corporation, this Stock
Option shall vest in accordance with the vesting schedule specified in Exhibit
A.

      Unless alternate provisions are made, this Stock Option will terminate
upon the occurrence of (i) the dissolution or liquidation of the Company, (ii) a
merger, consolidation or other business combination in which the Company is
acquired by another entity (other than a holding company formed by the Company)
or in which the Company is not the surviving entity ("Acquisition") or (iii) the
sale of all or substantially all of the assets of the Company to another entity
("Sale"). In the event of a termination due to an Acquisition or Sale, such
portions of this Stock Option which have vested plus such additional portions
which by their terms vest upon an Acquisition or Sale, shall be exercisable for
at least fifteen (15) days prior to the date of such termination.

      2. Manner of Exercise.

            (a) The Optionee may exercise this Stock Option only in the
following manner: from time to time on or prior to the Expiration Date of this
Stock Option, the Optionee may give written notice to the Company of his or her
election to purchase some or all of the vested Option Shares purchasable at the
time of such notice. This notice shall specify the number of Option Shares to be
purchased.

      Payment of the purchase price for the Option Shares may be made by one or
more of the following methods: (i) in cash, by certified or bank check or other
instrument acceptable to the Committee; (ii) by the Optionee delivering to the
Company a properly executed exercise notice together with irrevocable
instructions to a broker to promptly deliver to the Company cash or a check
payable and acceptable to the Company to pay the Stock Option purchase price,
provided that in the event the Optionee chooses to pay the Stock Option purchase
price as so provided, the Optionee and the broker shall comply with such
procedures and enter into such agreements of indemnity and other agreements as
the Committee shall prescribe as a condition of such payment

<PAGE>

procedure; or (iii) at the discretion of the Committee by any combination of (i)
and (ii) above. Payment instruments will be received subject to collection.

      The delivery of certificates representing the Option Shares will be
contingent upon the Company's receipt from the Optionee of full payment for the
Option Shares, as set forth above and any agreement, statement or other evidence
that the Company may require to satisfy itself that the issuance of Stock to be
purchased pursuant to the exercise of Stock Options under the Plan and any
subsequent resale of the shares of Stock will be in compliance with applicable
laws and regulations.

            (b) Certificates for shares of Stock purchased upon exercise of this
Stock Option shall be issued and delivered to the Optionee upon compliance to
the satisfaction of the Committee with all requirements under applicable laws or
regulations in connection with such issuance and with the requirements hereof
and of the Plan. The determination of the Committee as to such compliance shall
be final and binding on the Optionee. The Optionee shall not be deemed to be the
holder of, or to have any of the rights of a holder with respect to, any shares
of Stock subject to this Stock Option unless and until this Stock Option shall
have been exercised pursuant to the terms hereof, the Company shall have issued
and delivered the shares of Stock to the Optionee, and the Optionee's name shall
have been entered as the stockholder of record on the books of the Company.
Thereupon, the Optionee shall have full voting, dividend and other ownership
rights with respect to such shares of Stock.

            (c) The minimum number of shares with respect to which this Stock
Option may be exercised at any one time shall be 100 shares, unless the number
of shares with respect to which this Stock Option is being exercised is the
total number of shares subject to exercise under this Stock Option at the time.

            (d) Notwithstanding any other provision hereof or of the Plan, no
portion of this Stock Option shall be exercisable after the Expiration Date
hereof.

      3. Termination of Employment. If the Optionee's employment with the
Company or a Related Corporation (as defined in the Plan) is terminated, this
Stock Option shall no longer vest and the period within which to exercise the
Stock Option to the extent then vested and exercisable may be subject to earlier
termination as set forth below.

            (a) Termination Due to Death. If the Optionee's employment with the
Company or Related Corporation terminates by reason of death, any Stock Option
held by the Optionee, to the extent exercisable, may thereafter be exercised by
the Optionee's personal representative or beneficiary who has acquired the Stock
Option by will or by the laws of descent and distribution for a period of 360
days from the date of death or until the Expiration Date, if earlier.

            (b) Termination Due to Disability. If the Optionee's employment with
the Company or Related Corporation terminates by reason of disability (as
defined in Paragraph 10

                                       2
<PAGE>

of the Plan), any Stock Option held by the Optionee shall become fully
exercisable and may thereafter be exercised by the Optionee for a period of 360
days from the date of termination or until the Expiration Date, if earlier.

            (c) Termination of Employment. If the Optionee's employment with the
Company or Related Corporation terminates for any reason other than death or
disability (as defined in paragraph 10 of the Plan), and unless otherwise
determined by the Committee, any Stock Option held by the Optionee may be
exercised, to the extent exercisable on the date of termination, for a period of
fifteen (15) days from the date of termination or until the Expiration Date, if
earlier. Any Stock Option that is not exercisable at such time shall terminate
immediately and be of no further force or effect.

      4. Incorporation of Plan. Notwithstanding anything herein to the contrary,
this Stock Option shall be subject to and governed by the general terms and
conditions of the Plan. Capitalized terms in this Agreement shall have the
meaning specified in the Plan, unless a different meaning is specified herein or
in Exhibit A attached hereto and incorporated herein.

      5. Transferability. This Agreement is personal to the Optionee, is
non-assignable and is not transferable in any manner, by operation of law or
otherwise, other than by will or the laws of descent and distribution. This
Stock Option is exercisable, during the Optionee's lifetime, only by the
Optionee, and thereafter, only by the Optionee's personal representative or
beneficiary.

      6. Status of the Stock Option. This Stock Option is intended to qualify as
an "Incentive Stock Option" under Section 422 of the Code, but the Company does
not represent or warrant that this Stock Option qualifies as such. The Optionee
should consult with his or her own tax advisors regarding the tax effects of
this Stock Option and the requirements necessary to obtain favorable income tax
treatment under Section 422 of the Code, including, but not limited to, holding
period requirements. If the Optionee intends to dispose or does dispose (whether
by sale, gift, transfer or otherwise) of any Option Shares within the one-year
period beginning on the date after the transfer of such shares to him or her, or
within the two-year period beginning on the day after the grant of this Stock
Option, he or she will notify the Company within 30 days after such disposition.

      7. Miscellaneous.

            (a) Notice hereunder shall be given to the Company at its principal
place of business, and shall be given to the Optionee at the address set forth
below, or in either case at such other address as one party may subsequently
furnish to the other party in writing.

            (b) This Stock Option does not confer upon the Optionee any rights
with respect to continuance of employment by the Company or any Related
Corporation.

            (c) Pursuant to paragraph 16 of the Plan, the Committee may at any
time

                                       3
<PAGE>

amend or cancel any outstanding portion of this Stock Option, but no such action
may be taken which adversely affects the Optionee's rights under this Agreement
without the Optionee's consent.

              [THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

                                       4
<PAGE>

            EXECUTED as of the date set forth below.

                                         PRIMIX SOLUTIONS INC.

Dated:                                   By:
      --------------------------             -----------------------------------
                                             Name:
                                             Title:

The foregoing Agreement is hereby accepted and the terms and conditions thereof
hereby agreed to by the undersigned.

Dated:
      --------------------------         ---------------------------------------
                                         Optionee's Signature

                                         Optionee's Name:
                                                         -----------------------

                                         Optionee's Address:

                                         ---------------------------------------

                                         ---------------------------------------

                                       5
<PAGE>

                              Primix Solutions Inc.

               Incentive Stock Option Agreement (1995 Stock Plan)

                                    Exhibit A

Optionee:                           _____________________

Option Grant Date:                  _____________________

Option Shares:                      _____________________

Option Exercise Price per Share:    $____________________

Expiration Date:                    Ten (10) years from Option Grant Date

Vesting:                            For so long as the Optionee is a director
                                    of, or employed as an employee or officer
                                    of, or retained to render services as a
                                    consultant of, Primix Solutions Inc. or a
                                    Related Corporation (as defined in the 1995
                                    Stock Plan), this Stock Option shall vest
                                    over four years as follows: (i) 25% of the
                                    Option Shares shall vest on the 1st
                                    anniversary of the Option Grant Date; and
                                    (ii) 1/16th of the Option Shares shall vest
                                    quarterly thereafter.

      This Exhibit A is made a part of, and is subject to the terms and
conditions of, the Incentive Stock Option Agreement dated as of the Option Grant
Date set forth above between Primix Solutions Inc. and the Optionee signing
below.

      By signing below, the parties acknowledge and agree to the foregoing terms
and conditions as of the Option Grant Date set forth above.

PRIMIX SOLUTIONS INC.                          OPTIONEE

By: ____________________________               _________________________________
    Name:                                      Name:
    Title:

                                       6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00024-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00024-of-00352.parquet"}]]