Document:

<PAGE>   1
                                                                   EXHIBIT 10.11

THIS WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"). THEY MAY NOT BE SOLD, OFFERED
FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT AS TO SUCH SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL
SATISFACTORY TO THE CORPORATION THAT SUCH REGISTRATION IS NOT REQUIRED.

                           REQUISITE TECHNOLOGY, INC.

                        WARRANT TO PURCHASE COMMON STOCK

NO. CW-__                                                      DECEMBER 31, 1999

                          VOID AFTER DECEMBER 31, 2004

         THIS CERTIFIES THAT, for value received, GE CAPITAL EQUITY INVESTMENTS,
INC. OR ITS AFFILIATE GENERAL ELECTRIC COMPANY "GE," FOR THE BENEFIT OF GE'S
DIVISION "GE SUPPLY," or assigns (the "HOLDER") is entitled to subscribe for and
purchase at the Exercise Price (defined below) from Requisite Technology, Inc.,
a Delaware corporation, with its principal office, at 10355 Westmoor Drive,
Suite 205, Westminster, CO 80021 (the "CORPORATION") up to two thousand five
hundred (2,500) shares of the Common Stock of the Corporation.

         1. DEFINITIONS. As used herein, the following terms shall have the
following respective meanings:

              (a) "EXERCISE PERIOD" shall mean the period commencing with the
date hereof and ending five years from the date hereof, unless sooner terminated
as provided below.

              (b) "EXERCISE PRICE" shall mean $3.50 per share, subject to
adjustment pursuant to Section 5 below.

              (c) "EXERCISE SHARES" shall mean the shares of the Corporation's
Common Stock issuable upon exercise of this Warrant.

         2. EXERCISE OF WARRANT. The rights represented by this Warrant may be
exercised in whole or in part at any time during the Exercise Period, by
delivery of the following to the Corporation at its address set forth above (or
at such other address as it may designate by notice in writing to the Holder):

              (a) An executed Notice of Exercise in the form attached hereto;

              (b) Payment of the Exercise Price either (i) in cash or by check,
or (ii) by cancellation of indebtedness; and

              (c) This Warrant.

                                       1.
<PAGE>   2

         Upon the exercise of the rights represented by this Warrant, a
certificate or certificates for the Exercise Shares so purchased, registered in
the name of the Holder or persons affiliated with the Holder, if the Holder so
designates, shall be issued and delivered to the Holder within a reasonable
time, not exceeding fifteen (15) days, after the rights represented by this
Warrant shall have been so exercised.

         The person in whose name any certificate or certificates for Exercise
Shares are to be issued upon exercise of this Warrant shall be deemed to have
become the holder of record of such shares on the date on which this Warrant was
surrendered and payment of the Exercise Price was made, irrespective of the date
of delivery of such certificate or certificates, except that, if the date of
such surrender and payment is a date when the stock transfer books of the
Corporation are closed, such person shall be deemed to have become the holder of
such shares at the close of business on the next succeeding date on which the
stock transfer books are open.

         2.1 NET EXERCISE. Notwithstanding any provisions herein to the
contrary, if the fair market value of one share of the Company's Common Stock is
greater than the Exercise Price (at the date of calculation as set forth below),
in lieu of exercising this Warrant by payment of cash, the Holder may elect to
receive shares equal to the value (as determined below) of this Warrant (or the
portion thereof being canceled) by surrender of this Warrant at the principal
office of the Company together with the properly endorsed Notice of Exercise in
which event the Company shall issue to the Holder a number of shares of Common
Stock computed using the following formula:

         X = Y(A-B)
             ------
               A

Where     X =  the number of shares of Common Stock to be issued to the Holder

          Y =  the number of shares of Common Stock purchasable under the
               Warrant or, if only a portion of the Warrant is being exercised,
               the portion of the Warrant being canceled (at the date of such
               calculation)

          A =  the fair market value of one share of the Company's Common Stock
               (at the date of such calculation)

          B =  Exercise Price (as adjusted to the date of such calculation)

         For purposes of the above calculation, the fair market value of one
share of Common Stock shall be determined by the Company's Board of Directors in
good faith; provided, however, that in the event that this Warrant is exercised
pursuant to this Section 2.1 in connection with the Company's initial public
offering of its Common Stock, the fair market value of a share of Common Stock
shall be the per share offering price to the public of the Company's initial
public offering.

         3. COVENANTS OF THE CORPORATION.

                                       2.
<PAGE>   3

         3.1 COVENANTS AS TO EXERCISE SHARES. The corporation covenants and
agrees that all Exercise Shares that may be issued upon the exercise of the
rights represented by this Warrant will, upon issuance, be validly issued and
outstanding, fully paid and nonassessable, and free from all taxes, liens and
charges with respect to the issuance thereof. The Corporation further covenants
and agrees that the Corporation will at all times during the Exercise Period,
have authorized and reserved, free from preemptive rights, a sufficient number
of shares of its Common Stock to provide for the exercise of the rights
represented by this Warrant. If at any time during the Exercise Period the
number of authorized but unissued shares of Common Stock shall not be sufficient
to permit exercise of this Warrant, the Corporation will take such corporate
action as may, in the opinion of its counsel, be necessary to increase its
authorized but unissued shares of Common Stock to such number of shares as shall
be sufficient for such purposes.

         3.2 NO IMPAIRMENT. Except and to the extent as waived or consented to
by Holder, the Corporation will not, by amendment of its Certificate of
Incorporation or through any reorganization, transfer of assets, consolidation,
merger, dissolution issue or sale of securities or any other voluntary action,
avoid or seek to avoid the observance or performance of any of the terms to be
observed or performed hereunder by the Corporation, but will at all times in
good faith assist in the carrying out of all the provisions of this Warrant and
in the taking of all such action as may be necessary or appropriate in order to
protect the exercise rights of the Holder against impairment.

         3.3 NOTICES OF RECORD DATE. In the event of any taking by the
Corporation of a record of the holders of any class of securities for the
purpose of determining the holders thereof who are entitled to receive any
dividend (other than a cash dividend which is the same as cash dividends paid in
previous quarters) or other distribution, the Corporation shall mail to the
Holder, at least ten (10) days prior to the date specified herein, a notice
specifying the date on which any such record is to be taken for the purpose of
such dividend or distribution.

         4. REPRESENTATIONS OF HOLDER.

         4.1 ACQUISITION OF WARRANT FOR PERSONAL ACCOUNT. The Holder represents
and warrants and that it is acquiring the Warrant solely for its account for
investment and not with a view to or for sale or distribution of said Warrant or
any part thereof. The Holder also represents that the entire legal and
beneficial interests of the Warrant and Exercise Shares the Holder is acquiring
is being acquired for, and will be held for, its account only.

         4.2 SECURITIES ARE NOT REGISTERED.

              (a) The Holder understands that the Warrant has not been
registered under the Securities Act of 1933, as amended (the "ACT"), on the
basis that no distribution or public offering of the stock of the Corporation is
to be effected. The Holder realizes that the basis for the exemption may not be
present if, notwithstanding its representations, it has in mind merely acquiring
the securities for a fixed or determinable period in the future, or for a market
rise, or for sale if the market does not rise. The Holder has no such intention.

              (b) The Holder recognizes that the warrants and Exercise Shares
being acquired by it must be hold indefinitely unless they are subsequently
registered under the Act or

                                       3.
<PAGE>   4

an exemption from such registration is available. The Holder recognizes that the
Corporation has no obligation to register the Warrant or the Exercise Shares of
the Corporation, or to comply with any exemption from such registration.

(c) The Holder is aware that neither the Warrant or Exercise Shares may be sold
pursuant to Rule 144 adopted under the Act unless certain conditions are met,
including, among other things, the existence of a public market for the shares,
the availability of certain current public information about the Company, the
resale owning following the required holding period under Rule 144 and the
number of shares being sold during any three month period not exceeding
specified limitations. Purchaser is aware that the conditions for resale set
forth in Rule 144 have not been satisfied and that the Corporation presently has
no plans to satisfy these conditions in the foreseeable future.

         4.3 DISPOSITION OF WARRANT AND EXERCISE SHARES.

              (a) The Holder further agrees not to make any disposition of all
or any part Warrant or Exercise Shares in any event unless and until:

                   (i) There is then in effect a registration statement under
the Act covering such proposed disposition and such disposition is made in
accordance with said registration statement; or

                   (ii) The Holder shall have notified the Corporation of the
proposed disposition and shall have furnished the Corporation with a detailed
statement of the circumstances surrounding the proposed disposition, the Holder
shall have furnished the Corporation with an opinion of counsel for the Holder
to the effect that such disposition will not require registration of such
Warrant or shares under the Act, and such opinion of counsel for the Holder
shall have been concurred in by the Corporation's counsel and the Corporation
shall have advised the Holder of such concurrence.

              (b) The Holder understands and agrees that all certificates
evidencing the shares to be issued to the Holder may bear the following legend:

         THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
         1933, AS AMENDED (THE "ACT"). THEY MAY NOT BE SOLD, OFFERED FOR SALE,
         PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
         STATEMENT AS TO THE SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL
         SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

         THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A RIGHT
         Of FIRST REFUSAL OPTION IN FAVOR OF THE CORPORATION AND/OR ITS
         ASSIGNEES, AS PROVIDED IN THE BYLAWS OF THE CORPORATION.

              (c) The Holder hereby agrees not sell or otherwise transfer or
dispose of all or any part of this Warrant or any Exercise Shares during a
period specified by the representative of

                                       4.
<PAGE>   5

the underwriters of Common Stock (not to exceed one hundred eighty (180) days)
following the effective date of the registration statement of the Corporation
filed under the Act. Holder further agrees that the Corporation may impose
stop-transfer instructions with respect to securities subject to the foregoing
restrictions until the end of such period.

         5. ADJUSTMENT OF EXERCISE PRICE. In the event of changes in the
outstanding Common Stock of the Corporation by reason of stock dividends,
split-ups, recapitalizations, reclassifications, combinations or exchanges of
shares, separations, reorganizations, liquidations, or the like, the number and
class of shares available under the Warrant in the aggregate and the Exercise
Price shall be correspondingly adjusted to give the Holder of the Warrant, on
exercise for the same aggregate Exercise Price, the total number, class, and
kind of shares as the Holder would have owned had the Warrant been exercised
prior to the event and had the Holder continued to hold such shares until after
the event requiring adjustment. The form of this Warrant need not be changed
because of any adjustment in the number of Exercise Shares subject to this
Warrant.

         6. FRACTIONAL SHARES. No fractional shares shall be issued upon the
exercise of this Warrant as a consequence of any adjustment pursuant hereto. All
Exercise Shares (including fractions) issuable upon exercise of this Warrant may
be aggregated for purposes of determining whether the exercise would result in
the issuance of any fractional share. If, after aggregation, the exercise would
result in the issuance of a fractional share, the Corporation shall, in lieu of
issuance of any fractional share, pay the Holder otherwise entitled to such
fraction a sum in cash equal to the product resulting from multiplying the then
current fair market value of an Exercise Share by such fractions.

         7. EARLY TERMINATION. In the event of, at any time during the Exercise
Period, an initial public offering of securities of the Corporation registered
under the Act, or any capital reorganization, or any reclassification of the
capital stock of the Corporation (other than a change in par value or from par
value to no par value or no par value to par value or as a result of a stock
dividend or subdivision, split-up or combination of shares), or the
consolidation or merger of the Corporation with or into another corporation
(other than a merger solely to effect a reincorporation of the Corporation into
another state), or the sale or other disposition of all or substantially all the
properties and assets of the Corporation in its entirety to any other person,
the Corporation shall provide to the Holder twenty (20) days advance written
notice of such public offering, reorganization, reclassification, consolidation,
merger or sale or other disposition of the Corporation's assets, and this
Warrant shall terminate unless exercised prior to the date the registration
statement related to such public offering is declared effective or the
occurrence of such reorganization, reclassification, consolidation, merger or
sale or other disposition of the Corporation's assets.

         8. NO STOCKHOLDER RIGHTS. This Warrant in and of itself shall not
entitle the Holder to any voting rights or other rights as a stockholder of the
Corporation.

         9. TRANSFER OF WARRANT. Subject to applicable laws, the restriction on
transfer set forth on the first page of this Warrant, this Warrant and all
rights hereunder are transferable, by the Holder in person or by duly authorized
attorney, upon delivery of this Warrant and the form of assignment attached
hereto to any transferee designated by Holder. The transferee shall sign an
investment letter in form and substance satisfactory to the Corporation.

                                       5.
<PAGE>   6

         10. LOST, STOLEN, MUTILATED OR DESTROYED WARRANT. If this Warrant is
lost, stolen, mutilated or destroyed, the Corporation may, on such terms as to
indemnity or otherwise as it may reasonably impose (which shall, in the case of
a mutilated Warrant, include the surrender thereof), issue a new Warrant of like
denomination and tenor as the Warrant so lost, stolen, mutilated or destroyed.
Any such new Warrant shall constitute an original contractual obligation of the
Corporation, whether or not the allegedly lost, stolen, mutilated or destroyed
Warrant shall be at any time enforceable by anyone.

         11. NOTICES, ETC. All notices and other communications required or
permitted hereunder shall be in writing and shall be sent by telex, telegram,
express mail or other form of rapid communications, if possible, and if not then
such notice or communication shall be mailed by first-class mail, postage
prepaid, addressed in each case to the party entitled thereto at the following
addresses: (a) if to the Corporation, to Requisite Technology, Inc., Attention:
President, 10355 Westmoor Drive, Suite 205, Westminster, CO 80021 and (b) if to
the Holder, to GE Capital Equity Investments, Inc., 120 Long Ridge road,
Stamford, CT 06927 or at such other address as one party may furnish to the
other in writing. Notice shall be deemed effective on the date dispatched it by
personal delivery, telecopy, telex or telegram, two days after mailing if by
express mail, or three days after mailing if by first-class mail.

         12. ACCEPTANCE. Receipt of this Warrant by the Holder shall constitute
acceptance of and agreement to all of the terms and conditions contained herein.

         13. GOVERNING LAW. This Warrant and all rights, obligations and
liabilities hereunder shall be governed by the laws of the State of Delaware.

         IN WITNESS WHEREOF, the Corporation has caused this Warrant to be
executed by its duly authorized officer as of December 31, 1999.

                                     REQUISITE TECHNOLOGY, INC.

                                     By:  /s/ Barbara J. Mowry
                                        -----------------------------------
                                        President

ATTEST:

  /s/ K.J. Cunningham
--------------------------------
Secretary

                                       6.
<PAGE>   7

                                 ASSIGNMENT FORM

               (To assign the foregoing Warrant execute this form
                and supply required information. Do not use this
                            form to purchase shares.)

         FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced
thereby are hereby assigned to

Name:
     ---------------------------------------------------------------------------
                                 (Please Print)

Address:
        ------------------------------------------------------------------------
                                 (Please Print)

Dated:
      ----------------------

Holder's
Signature:
          -------------------------------------

Holder's
Address:
         --------------------------------------

Signature
Guaranteed:
           ------------------------------------

NOTE: The signature to this Assignment Form must correspond with the name as it
appears on the face of the Warrant, without alteration or enlargement or any
change whatever, and must be guaranteed by a bank or trust company. Officers of
corporations and those acting in a fiduciary or other representative capacity
should file proper evidence of authority to assign the foregoing Warrant.<PAGE>   1
                                                                  EXHIBIT 10.13

                           REQUISITE TECHNOLOGY, INC.
                       2000 EMPLOYEE STOCK PURCHASE PLAN

              ADOPTED BY BOARD OF DIRECTORS JULY 17, 2000
                APPROVED BY STOCKHOLDERS _______________ , 2000
                             TERMINATION DATE: NONE

1.       PURPOSE.

         (a) The purpose of the Plan is to provide a means by which Employees
of the Company and certain designated Affiliates may be given an opportunity to
purchase Shares of the Company through accumulated payroll deductions, enabling
such Employees to acquire or increase a proprietary interest in the Company in
order to strengthen the mutuality of interests between the Company's Employees
and its stockholders, and to provide a benefit to the Company's employees.

         (b) The Company, by means of the Plan, seeks to retain the services of
its Employees, to secure and retain the services of new Employees and to
provide incentives for such persons to exert maximum efforts for the success of
the Company and its Affiliates.

         (c) The Company intends that the Rights to purchase Shares granted
under the Plan be considered options issued under an "employee stock purchase
plan," as that term is defined in Section 423(b) of the Code.

2.       DEFINITIONS.

         (a) "AFFILIATE" means any parent corporation or subsidiary
corporation, whether now or hereafter existing, as those terms are defined in
Sections 424(e) and (f), respectively, of the Code.

         (b) "BOARD" means the Board of Directors of the Company.

         (c) "CODE" means the Internal Revenue Code of 1986, as amended.

         (d) "COMMITTEE" means a Committee appointed by the Board in accordance
with subparagraph 3(c) of the Plan.

         (e) "COMMON STOCK" means the common stock of the Company.

         (f) "COMPANY" means Requisite Technology, Inc., a Delaware
corporation.

         (g) "COVERED EMPLOYEE" means the chief executive officer and the four
(4) other highest compensated officers of the Company for whom total
compensation is required to be reported to shareholders under the Exchange Act,
as determined for purposes of Section 162(m) of the Code.

         (h) "DIRECTOR" means a member of the Board.

                                      -1-
<PAGE>   2

         (i) "ELIGIBLE EMPLOYEE" means an Employee who meets the requirements
set forth in the Offering for eligibility to participate in the Offering.

         (j) "EMPLOYEE" means any person, including Officers and Directors,
employed by the Company or an Affiliate of the Company. Neither service as a
Director nor payment of a director's fee shall be sufficient to constitute
"employment" by the Company or the Affiliate.

         (k) "EMPLOYEE STOCK PURCHASE PLAN" means a plan that grants rights
intended to be options issued under an "employee stock purchase plan," as that
term is defined in Section 423(b) of the Code.

         (l) "EXCHANGE ACT" means the Securities Exchange Act of 1934, as
amended.

         (m) "FAIR MARKET VALUE" means, as of any date, the value of the Common
Stock determined as follows:

                  (i) If the Common Stock is listed on any established stock
exchange or traded on the Nasdaq National Market or the Nasdaq SmallCap Market,
the Fair Market Value of a share of Common Stock shall be the closing sales
price for such stock (or the closing bid, if no sales were reported) as quoted
on such exchange or market (or the exchange or market with the greatest volume
of trading in the Common Stock) on the last market trading day prior to the day
of determination, as reported in The Wall Street Journal or such other source
as the Board deems reliable.

                  (ii) In the absence of such markets for the Common Stock, the
Fair Market Value shall be determined in good faith by the Board.

         (n) "NON-EMPLOYEE DIRECTOR" means a Director who either (i) is not a
current Employee or Officer of the Company or its parent or subsidiary, does
not receive compensation (directly or indirectly) from the Company or its
parent or subsidiary for services rendered as a consultant or in any capacity
other than as a Director (except for an amount as to which disclosure would not
be required under Item 404(a) of Regulation S-K promulgated pursuant to the
Securities Act ("Regulation S-K")), does not possess an interest in any other
transaction as to which disclosure would be required under Item 404(a) of
Regulation S-K, and is not engaged in a business relationship as to which
disclosure would be required under Item 404(b) of Regulation S-K; or (ii) is
otherwise considered a "non-employee director" for purposes of Rule 16b-3.

         (o) "OFFERING" means the grant of Rights to purchase Shares under the
Plan to Eligible Employees.

         (p) "OFFERING DATE" means a date selected by the Board for an Offering
to commence.

         (q) "OUTSIDE DIRECTOR" means a Director who either (i) is not a
current employee of the Company or an "affiliated corporation" (within the
meaning of the Treasury regulations promulgated under Section 162(m) of the
Code), is not a former employee of the Company or an

                                      -2-
<PAGE>   3

"affiliated corporation" receiving compensation for prior services (other than
benefits under a tax qualified pension plan), was not an officer of the Company
or an "affiliated corporation" at any time, and is not currently receiving
direct or indirect remuneration from the Company or an "affiliated corporation"
for services in any capacity other than as a Director, or (ii) is otherwise
considered an "outside director" for purposes of Section 162(m) of the Code.

         (r) "PARTICIPANT" means an Eligible Employee who holds an outstanding
Right granted pursuant to the Plan or, if applicable, such other person who
holds an outstanding Right granted under the Plan.

         (s) "PLAN" means this 2000 Employee Stock Purchase Plan.

         (t) "PURCHASE DATE" means one or more dates established by the Board
during an Offering on which Rights granted under the Plan shall be exercised
and purchases of Shares carried out in accordance with such Offering.

         (u) "RIGHT" means an option to purchase Shares granted pursuant to the
Plan.

         (v) "RULE 16B-3" means Rule 16b-3 promulgated under the Exchange Act
or any successor to Rule 16b-3, as in effect from time to time.

         (w) "SECURITIES ACT" means the Securities Act of 1933, as amended.

         (x) "SHARE" means a share of the common stock of the Company.

3.       ADMINISTRATION.

         (a) The Board shall administer the Plan unless and until the Board
delegates administration to a Committee, as provided in subparagraph 3(c).
Whether or not the Board has delegated administration, the Board shall have the
final power to determine all questions of policy and expediency that may arise
in the administration of the Plan.

         (b) The Board (or the Committee) shall have the power, subject to, and
within the limitations of, the express provisions of the Plan:

                  (i) To determine when and how Rights to purchase Shares shall
be granted and the provisions of each Offering of such Rights (which need not
be identical).

                  (ii) To designate from time to time which Affiliates of the
Company shall be eligible to participate in the Plan.

                  (iii) To construe and interpret the Plan and Rights granted
under it, and to establish, amend and revoke rules and regulations for its
administration. The Board, in the exercise of this power, may correct any
defect, omission or inconsistency in the Plan, in a manner and to the extent it
shall deem necessary or expedient to make the Plan fully effective.

                  (iv) To amend the Plan as provided in paragraph 14.

                                      -3-
<PAGE>   4

                  (v) Generally, to exercise such powers and to perform such
acts as it deems necessary or expedient to promote the best interests of the
Company and its Affiliates that are not in conflict with the provisions of the
Plan and to carry out the intent that the Plan be treated as an Employee Stock
Purchase Plan.

         (c) In the discretion of the Board, a Committee may consist solely of
two or more Outside Directors, in accordance with Section 162(m) of the Code,
and/or solely of two or more Non-Employee Directors, in accordance with Rule
16b-3. Within the scope of such authority, the Board or the Committee may (1)
delegate to a committee of one or more members of the Board who are not Outside
Directors the authority to grant Stock Awards to eligible persons who are
either (a) not then Covered Employees and are not expected to be Covered
Employees at the time of recognition of income resulting from such Stock Award
or (b) not persons with respect to whom the Company wishes to comply with
Section 162(m) of the Code and/or) (2) delegate to a committee of one or more
members of the Board who are not Non-Employee Directors the authority to grant
Stock Awards to eligible persons who are not then subject to Section 16 of the
Exchange Act.

4.       SHARES SUBJECT TO THE PLAN.

         (a) Subject to the provisions of paragraph 13 relating to adjustments
upon changes in securities, the Shares that may be sold pursuant to Rights
granted under the Plan shall not exceed in the aggregate Two Million (2,000,000)
Shares. If any Right granted under the Plan shall for any reason terminate
without having been exercised, the Shares not purchased under such Right shall
again become available for the Plan.

         (b) The aggregate number of Shares that may be sold pursuant to Rights
granted under the Plan as specified in paragraph 4(a) hereof automatically
shall be increased as follows:

                  (i) For a period of nine (9) years, on the last day of each
calendar year (the "Calculation Date"), commencing on December 31, 2000 and
ending on December 31, 2009, the aggregate number of Shares specified in
paragraph 4(a) hereof shall be increased by the greater of (1) that number of
Shares equal to two percent (2%) of the Diluted Shares Outstanding or (2) that
number of Shares that have been sold pursuant to Rights granted under the Plan
in the prior 12-month period; provided, however, that the Board of Directors may
provide for a lesser increase in the number of Shares in any year.

                  (ii) The maximum aggregate number of Shares that may be sold
pursuant to Rights granted under the Plan shall not increase by more than seven
million (7,000,000) Shares during said 10-year period.

                  (iii) For purposes of paragraph 4(b)(ii) hereof, "Diluted
Shares Outstanding" shall mean, as of any date, (1) the number of outstanding
Shares on such Calculation Date, plus (2) the number of Shares issuable upon
such Calculation Date assuming the conversion of all outstanding Preferred
Stock and convertible notes, plus (3) the additional number of dilutive Common
Stock equivalent shares outstanding as the result of any options or warrants
outstanding during the fiscal year, calculated using the treasury stock method.

                                      -4-
<PAGE>   5

         (c) The Shares subject to the Plan may be unissued Shares or Shares
that have been bought on the open market at prevailing market prices or
otherwise.

5.       GRANT OF RIGHTS; OFFERING.

         (a) The Board may from time to time grant or provide for the grant of
Rights to purchase Shares of the Company under the Plan to Eligible Employees
in an Offering on an Offering Date or Dates selected by the Board. Each
Offering shall be in such form and shall contain such terms and conditions as
the Board shall deem appropriate, which shall comply with the requirements of
Section 423(b)(5) of the Code that all Employees granted Rights to purchase
Shares under the Plan shall have the same rights and privileges. The terms and
conditions of an Offering shall be incorporated by reference into the Plan and
treated as part of the Plan. The provisions of separate Offerings need not be
identical, but each Offering shall include (through incorporation of the
provisions of this Plan by reference in the document comprising the Offering or
otherwise) the period during which the Offering shall be effective, which
period shall not exceed twenty-seven (27) months beginning with the Offering
Date, and the substance of the provisions contained in paragraphs 6 through 9,
inclusive.

         (b) If a Participant has more than one Right outstanding under the
Plan, unless he or she otherwise indicates in agreements or notices delivered
hereunder: (i) each agreement or notice delivered by that Participant will be
deemed to apply to all of his or her Rights under the Plan, and (ii) an
earlier-granted Right (or a Right with a lower exercise price, if two Rights
have identical grant dates) will be exercised to the fullest possible extent
before a later-granted Right (or a Right with a higher exercise price if two
Rights have identical grant dates) will be exercised.

6.       ELIGIBILITY.

         (a) Rights may be granted only to Employees of the Company or, as the
Board may designated as provided in subparagraph 3(b), to Employees of an
Affiliate.

                  (i) Except as provided in subparagraph 6(b), an Employee
shall not be eligible to be granted Rights under the Plan unless, on the
Offering Date, such Employee has been in the employ of the Company or the
Affiliate, as the case may be, for such continuous period preceding such grant
as the Board may require in the Offering, but in no event shall the required
period of continuous employment be equal to or greater than two (2) years.

                  (ii) The Board may provide in an Offering that Employees
whose customary employment is twenty (20) hours or less per week shall not be
eligible to participate.

                  (iii) The Board may provide in an Offering that Employees
whose customary employment is for not more than five (5) months in any calendar
year shall not be eligible to participate.

                                      -5-
<PAGE>   6

                  (iv) The Board may provide in an Offering that Employees who
are highly compensated Employees within the meaning of Section 423(b)(4)(D) of
the Code shall not be eligible to participate.

         (b) The Board may provide that each person who, during the course of
an Offering, first becomes an Eligible Employee will, on a date or dates
specified in the Offering which coincides with the day on which such person
becomes an Eligible Employee or which occurs thereafter, receive a Right under
that Offering, which Right shall thereafter be deemed to be a part of that
Offering. Such Right shall have the same characteristics as any Rights
originally granted under that Offering, as described herein, except that:

                  (i) the date on which such Right is granted shall be the
"Offering Date" of such Right for all purposes, including determination of the
exercise price of such Right;

                  (ii) the period of the Offering with respect to such Right
shall begin on its Offering Date and end coincident with the end of such
Offering; and

                  (iii) the Board may provide that if such person first becomes
an Eligible Employee within a specified period of time before the end of the
Offering, he or she will not receive any Right under that Offering.

         (c) No Employee shall be eligible for the grant of any Rights under
the Plan if, immediately after any such Rights are granted, such Employee owns
stock possessing five percent (5%) or more of the total combined voting power
or value of all classes of stock of the Company or of any Affiliate. For
purposes of this subparagraph 6(c), the rules of Section 424(d) of the Code
shall apply in determining the stock ownership of any Employee, and stock which
such Employee may purchase under all outstanding rights and options shall be
treated as stock owned by such Employee.

         (d) An Eligible Employee may be granted Rights under the Plan only if
such Rights, together with any other Rights granted under all Employee Stock
Purchase Plans of the Company and any Affiliates, as specified by Section
423(b)(8) of the Code, do not permit such Eligible Employee's rights to
purchase Shares of the Company or any Affiliate to accrue at a rate which
exceeds twenty five thousand dollars ($25,000) of the fair market value of such
Shares (determined at the time such Rights are granted) for each calendar year
in which such Rights are outstanding at any time.

7.       RIGHTS; PURCHASE PRICE.

         (a) On each Offering Date, each Eligible Employee, pursuant to an
Offering made under the Plan, shall be granted the Right to purchase up to the
number of Shares purchasable either:

                  (i) with a percentage designated by the Board not exceeding
fifteen percent (15%) of such Employee's Earnings (as defined by the Board in
each Offering) during the period which begins on the Offering Date (or such
later date as the Board determines for a particular

                                      -6-
<PAGE>   7

Offering) and ends on the date stated in the Offering, which date shall be no
later than the end of the Offering; or

                  (ii) with a maximum dollar amount designated by the Board
that, as the Board determines for a particular Offering, (1) shall be withheld,
in whole or in part, from such Employee's Earnings (as defined by the Board in
each Offering) during the period which begins on the Offering Date (or such
later date as the Board determines for a particular Offering) and ends on the
date stated in the Offering, which date shall be no later than the end of the
Offering and/or (2) shall be contributed, in whole or in part, by such Employee
during such period.

         (b) The Board shall establish one or more Purchase Dates during an
Offering on which Rights granted under the Plan shall be exercised and
purchases of Shares carried out in accordance with such Offering.

         (c) In connection with each Offering made under the Plan, the Board
may specify a maximum amount of Shares that may be purchased by any Participant
as well as a maximum aggregate amount of Shares that may be purchased by all
Participants pursuant to such Offering. In addition, in connection with each
Offering that contains more than one Purchase Date, the Board may specify a
maximum aggregate amount of Shares which may be purchased by all Participants
on any given Purchase Date under the Offering. If the aggregate purchase of
Shares upon exercise of Rights granted under the Offering would exceed any such
maximum aggregate amount, the Board shall make a pro rata allocation of the
Shares available in as nearly a uniform manner as shall be practicable and as
it shall deem to be equitable.

         (d) The purchase price of Shares acquired pursuant to Rights granted
under the Plan shall be not less than the lesser of:

                  (i) an amount equal to eighty-five percent (85%) of the fair
market value of the Shares on the Offering Date; or

                  (ii) an amount equal to eighty-five percent (85%) of the fair
market value of the Shares on the Purchase Date.

8.       PARTICIPATION; WITHDRAWAL; TERMINATION.

         (a) An Eligible Employee may become a Participant in the Plan pursuant
to an Offering by delivering a participation agreement to the Company within
the time specified in the Offering, in such form as the Company provides. Each
such agreement shall authorize payroll deductions of up to the maximum
percentage specified by the Board of such Employee's Earnings during the
Offering (as defined in each Offering). The payroll deductions made for each
Participant shall be credited to a bookkeeping account for such Participant
under the Plan and either may be deposited with the general funds of the
Company or may be deposited in a separate account in the name of, and for the
benefit of, such Participant with a financial institution designated by the
Company. To the extent provided in the Offering, a Participant may reduce
(including to zero) or increase such payroll deductions. To the extent provided
in the Offering, a Participant may begin such payroll deductions after the
beginning of the Offering.

                                      -7-
<PAGE>   8

         (b) At any time during an Offering, a Participant may terminate his or
her payroll deductions under the Plan and withdraw from the Offering by
delivering to the Company a notice of withdrawal in such form as the Company
provides. Such withdrawal may be elected at any time prior to the end of the
Offering except as provided by the Board in the Offering. Upon such withdrawal
from the Offering by a Participant, the Company shall distribute to such
Participant all of his or her accumulated payroll deductions (reduced to the
extent, if any, such deductions have been used to acquire Shares for the
Participant) under the Offering, without interest unless otherwise specified in
the Offering, and such Participant's interest in that Offering shall be
automatically terminated. A Participant's withdrawal from an Offering will have
no effect upon such Participant's eligibility to participate in any other
Offerings under the Plan but such Participant will be required to deliver a new
participation agreement in order to participate in subsequent Offerings under
the Plan.

         (c) Rights granted pursuant to any Offering under the Plan shall
terminate immediately upon cessation of any participating Employee's employment
with the Company or a designated Affiliate for any reason (subject to any
post-employment participation period required by law) or other lack of
eligibility. The Company shall distribute to such terminated Employee all of
his or her accumulated payroll deductions (reduced to the extent, if any, such
deductions have been used to acquire Shares for the terminated Employee) under
the Offering, without interest unless otherwise specified in the Offering. If
the accumulated payroll deductions have been deposited with the Company's
general funds, then the distribution shall be made from the general funds of
the Company, without interest. If the accumulated payroll deductions have been
deposited in a separate account with a financial institution as provided in
subparagraph 8(a), then the distribution shall be made from the separate
account, without interest unless otherwise specified in the Offering.

         (d) Rights granted under the Plan shall not be transferable by a
Participant otherwise than by will or the laws of descent and distribution, or
by a beneficiary designation as provided in paragraph 15 and, otherwise during
his or her lifetime, shall be exercisable only by the person to whom such
Rights are granted.

9.       EXERCISE.

         (a) On each Purchase Date specified therefor in the relevant Offering,
each Participant's accumulated payroll deductions and other additional payments
specifically provided for in the Offering (without any increase for interest)
will be applied to the purchase of Shares up to the maximum amount of Shares
permitted pursuant to the terms of the Plan and the applicable Offering, at the
purchase price specified in the Offering. Fractional Shares may be issued upon
the exercise of Rights granted under the Plan if specifically provided for in
the Offering.

         (b) Unless otherwise specifically provided in the Offering, the
amount, if any, of accumulated payroll deductions remaining in any
Participant's account after the purchase of Shares that is equal to the amount
required to purchase one or more whole Shares on the final Purchase Date of the
Offering shall be distributed in full to the Participant at the end of the
Offering, without interest. If the accumulated payroll deductions have been
deposited with the

                                      -8-
<PAGE>   9

Company's general funds, then the distribution shall be made from the general
funds of the Company, without interest. If the accumulated payroll deductions
have been deposited in a separate account with a financial institution as
provided in subparagraph 8(a), then the distribution shall be made from the
separate account, without interest unless otherwise specified in the Offering.

         (c) No Rights granted under the Plan may be exercised to any extent
unless the Shares to be issued upon such exercise under the Plan (including
Rights granted thereunder) are covered by an effective registration statement
pursuant to the Securities Act and the Plan is in material compliance with all
applicable state, foreign and other securities and other laws applicable to the
Plan. If on a Purchase Date in any Offering hereunder the Plan is not so
registered or in such compliance, no Rights granted under the Plan or any
Offering shall be exercised on such Purchase Date, and the Purchase Date shall
be delayed until the Plan is subject to such an effective registration
statement and such compliance, except that the Purchase Date shall not be
delayed more than twelve (12) months and the Purchase Date shall in no event be
more than twenty-seven (27) months from the Offering Date. If, on the Purchase
Date of any Offering hereunder, as delayed to the maximum extent permissible,
the Plan is not registered and in such compliance, no Rights granted under the
Plan or any Offering shall be exercised and all payroll deductions accumulated
during the Offering (reduced to the extent, if any, such deductions have been
used to acquire Shares) shall be distributed to the Participants, without
interest unless otherwise specified in the Offering. If the accumulated payroll
deductions have been deposited with the Company's general funds, then the
distribution shall be made from the general funds of the Company, without
interest. If the accumulated payroll deductions have been deposited in a
separate account with a financial institution as provided in subparagraph 8(a),
then the distribution shall be made from the separate account, without interest
unless otherwise specified in the Offering.

10.      COVENANTS OF THE COMPANY.

         (a) During the terms of the Rights, the Company shall keep available
at all times the number of shares of Common Stock required to satisfy such
Rights.

         (b) The Company shall seek to obtain from each regulatory commission
or agency having jurisdiction over the Plan such authority as may be required
to issue and sell Shares upon exercise of the Rights granted under the Plan;
provided, however, that this undertaking shall not require the Company to
register under the Securities Act the Plan or any Common Stock issued or
issuable pursuant to Rights granted under the Plan.. If, after reasonable
efforts, the Company is unable to obtain from any such regulatory commission or
agency the authority which counsel for the Company deems necessary for the
lawful issuance and sale of Shares under the Plan, the Company shall be
relieved from any liability for failure to issue and sell Shares upon exercise
of such Rights unless and until such authority is obtained.

11.      USE OF PROCEEDS FROM SHARES.

         Proceeds from the sale of Shares pursuant to Rights granted under the
Plan shall constitute general funds of the Company.

                                      -9-
<PAGE>   10

12.      RIGHTS AS A STOCKHOLDER.

         A Participant shall not be deemed to be the holder of, or to have any
of the rights of a holder with respect to, Shares subject to Rights granted
under the Plan unless and until the Participant's Shares acquired upon exercise
of Rights under the Plan are recorded in the books of the Company.

13.      ADJUSTMENTS UPON CHANGES IN SECURITIES.

         (a) If any change is made in the Shares subject to the Plan, or subject
to any Right, without the receipt of consideration by the Company (through
merger, consolidation, reorganization, recapitalization, reincorporation, stock
dividend, dividend in property other than cash, stock split, liquidating
dividend, combination of shares, exchange of shares, change in corporate
structure or other transaction not involving the receipt of consideration by the
Company), the Plan will be appropriately adjusted in the class(es) and maximum
number of Shares subject to the Plan pursuant to subparagraph 4(a), and the
outstanding Rights will be appropriately adjusted in the class(es), number of
Shares and purchase limits of such outstanding Rights. The Board shall make such
adjustments, and its determination shall be final, binding and conclusive. (The
conversion of any convertible securities of the Company shall not be treated as
a transaction that does not involve the receipt of consideration by the
Company.)

         (b) In the event of a proposed dissolution or liquidation of the
Company, then all outstanding Rights shall terminate immediately prior to the
consummation of such proposed action, unless otherwise provided by the Board.

         (c) In the event of a Change in Control, then (1) any surviving or
acquiring corporation shall assume Rights outstanding under the Plan or shall
substitute similar rights (including a right to acquire the same consideration
paid to Stockholders in the transaction described in this subparagraph 13(b))
for those outstanding under the Plan, or (2) in the event any surviving or
acquiring corporation refuses to assume such Rights or to substitute similar
rights for those outstanding under the Plan, then the Participants' accumulated
payroll deductions (exclusive of any accumulated interest which cannot be
applied toward the purchase of Shares under the terms of the Offering) shall be
used to purchase Shares under the ongoing Offering on the date immediately prior
to the effective or closing date of the Change in Control transaction described
above and the Participants' Rights under the ongoing Offering thereafter be
terminated. Notwithstanding the foregoing, if such potential purchase of Shares
prior to the next established Purchase Date would cause a contemplated Change in
Control transaction that would otherwise be eligible to be accounted for as a
"pooling-of-interests" transaction to become ineligible for such accounting
treatment under generally accepted accounting principles as determined by the
Company's independent public accountants prior to the Change in Control, such
purchase shall not occur and the Board may terminate the Plan in accordance with
Section 16 hereof.

         For purposes of this Plan, "Change in Control" means: (i) a sale, lease
or other disposition of all or substantially all of the assets of the Company,
(ii) a merger or consolidation in which the Company is not the surviving
corporation, (iii) a reverse merger in which the Company is the surviving
corporation but the shares of Common Stock outstanding immediately preceding the
merger are converted by virtue of the merger into other property, whether in the
form of securities, cash or otherwise, or (iv) an acquisition by any Group of
the beneficial ownership (within the meaning of Rule 13d-3 promulgated under the
Exchange Act) of securities of the Company or its successor representing at
least fifty percent (50%) of the combined voting power entitled to vote in the
election of directors, provided that a transaction described in (ii) or (iii)
above shall constitute a Change in Control only if the stockholders of the
Company immediately prior to such merger, consolidation or reverse merger: (A)
hold less than fifty percent (50%) of the outstanding securities of the
surviving company following the merger, consolidation or reverse merger, or (B)
in the event that the securities of an affiliated entity or corporation are
issued to the stockholders of the Company in the transaction, hold less than
fifty percent (50%) of the outstanding securities of such affiliated entity or
corporation. A Change in Control shall not include the initial public offering
of the securities of the Company (the "IPO"), nor does it include any event,
transaction or series of transactions constituting part of an IPO or an
attempted IPO.

                                     -10-
<PAGE>   11

14.      AMENDMENT OF THE PLAN.

         (a) AMENDMENT OF PLAN. The Board at any time, and from time to time,
may amend the Plan. However, except as provided in paragraph 13 relating to
adjustments upon changes in securities and except as to minor amendments to
benefit the administration of the Plan, to take account of a change in
legislation or to obtain or maintain favorable tax, exchange control or
regulatory treatment for Participants or the Company or any Affiliate, no
amendment shall be effective unless approved by the stockholders of the Company
to the extent stockholder approval is necessary for the Plan to satisfy the
requirements of Section 423 of the Code, Rule 16b-3 under the Exchange Act and
any Nasdaq or other securities exchange listing requirements.

         (b) CONTEMPLATED AMENDMENTS. It is expressly contemplated that the
Board may amend the Plan in any respect the Board deems necessary or advisable
to provide Employees with the maximum benefits provided or to be provided under
the provisions of the Code and the regulations promulgated thereunder relating
to Employee Stock Purchase Plans and/or to bring the Plan and/or Rights granted
under it into compliance therewith.

         (c) NO IMPAIRMENT OF RIGHTS. Rights and obligations under any Rights
granted before amendment of the Plan shall not be impaired by any amendment of
the Plan, except with the consent of the person to whom such Rights were
granted, or except as necessary to comply with any laws or governmental
regulations, or except as necessary to ensure that the Plan and/or Rights
granted under the Plan comply with the requirements of Section 423 of the Code.

15.      DESIGNATION OF BENEFICIARY.

         (a) A Participant may file a written designation of a beneficiary who
is to receive any Shares and/or cash, if any, from the Participant's account
under the Plan in the event of such Participant's death subsequent to the end
of an Offering but prior to delivery to the Participant of such Shares and
cash. In addition, a Participant may file a written designation of a
beneficiary who is to receive any cash from the Participant's account under the
Plan in the event of such Participant's death during an Offering.

         (b) The Participant may change such designation of beneficiary at any
time by written notice. In the event of the death of a Participant and in the
absence of a beneficiary validly designated under the Plan who is living at the
time of such Participant's death, the Company shall deliver such Shares and/or
cash to the executor or administrator of the estate of the Participant, or if
no such executor or administrator has been appointed (to the knowledge of the
Company), the Company, in its sole discretion, may deliver such Shares and/or
cash to the spouse or to any one or more dependents or relatives of the
Participant, or if no spouse, dependent or relative is known to the Company,
then to such other person as the Company may designate.

                                     -11-
<PAGE>   12

16.      TERMINATION OR SUSPENSION OF THE PLAN.

         (a) The Board in its discretion may suspend or terminate the Plan at
any time. Unless sooner terminated, the Plan shall terminate at the time that
all of the Shares subject to the Plan's reserve, as increased and/or adjusted
from time to time, have been issued under the terms of the Plan. No Rights may
be granted under the Plan while the Plan is suspended or after it is
terminated.

         (b) Rights and obligations under any Rights granted while the Plan is
in effect shall not be impaired by suspension or termination of the Plan,
except as expressly provided in the Plan or with the consent of the person to
whom such Rights were granted, or except as necessary to comply with any laws
or governmental regulation, or except as necessary to ensure that the Plan
and/or Rights granted under the Plan comply with the requirements of Section
423 of the Code.

17.      EFFECTIVE DATE OF PLAN.

         The Plan shall become effective as determined by the Board, but no
Rights granted under the Plan shall be exercised unless and until the Plan has
been approved by the stockholders of the Company within twelve (12) months
before or after the date the Plan is adopted by the Board, which date may be
prior to the effective date set by the Board.

                                     -12-
<PAGE>   13

                           REQUISITE TECHNOLOGY, INC.
                        2000 EMPLOYEE STOCK PURCHASE PLAN
                                    OFFERING

                              ADOPTED JULY 17, 2000
                         EFFECTIVE DATE __________, 2000

1. GRANT OF RIGHTS.

         (a) The Board of Directors ("Board") of Requisite Technology, Inc., a
Delaware corporation (the "Company"), pursuant to the Company's 2000 Employee
Stock Purchase Plan (the "Plan"), hereby authorizes the grant of Rights to
purchase Shares of the Company to all Eligible Employees (an "Offering").
Defined terms not explicitly defined in this Offering but defined in the Plan
shall have the same definitions as in the Plan. In the event of any conflict
between the provisions of an Offering and those of the Plan (including
interpretations, amendments, rules and regulations that may from time to time be
promulgated and adopted pursuant to the Plan), the provisions of the Plan shall
control.

         (b) An "Offering Date" is the first day of an Offering. An Offering may
consist of one purchase period or may be divided into shorter purchase periods
("Purchase Periods"). A "Purchase Date" is the last day of a Purchase Period or
the Offering, as the case may be.

         (c) Except as otherwise provided, each Offering hereunder shall be
twenty-four (24) months long and shall be divided into four (4) shorter Purchase
Periods approximately six (6) months in length. Except as otherwise provided,
Purchase Periods shall begin every ________________and ________________, and
Purchase dates shall be every __________and ________________. Offerings shall be
consecutive. A new Offering shall start the day after the current Offering ends.

         (d) The first Offering shall begin on the effective date of the initial
public offering of the Shares and end on [JUNE 30, 2002] (the "Initial
Offering"); provided, however, that the Initial Offering cannot exceed
twenty-seven (27) months. The Initial Offering will be divided into four (4)
shorter Purchase Periods of approximately six (6) months in duration, with the
initial Purchase Period ending on [DECEMBER 31, 2000], the second Purchase
Period ending on [JUNE 30, 2001], the third Purchase Period ending on [DECEMBER
31, 2001] and the fourth Purchase Period ending on [JUNE 30, 2002].

         (e) Thereafter consecutive 24-month Offerings shall begin on [JULY 1,
2002] and on each subsequent anniversary of the most recent Offering Date;
provided, however, that if on the first day of a new Purchase Period during the
Offering the fair market value of the Shares is less than it was on the Offering
Date for that Offering, that day shall become the next Offering Date, and the
Offering that would otherwise have continued in effect shall immediately
terminate. Each Offering after the Initial Offering shall end on the day prior
to the anniversary of its Offering Date unless sooner terminated as provided
above.

                                       1.
<PAGE>   14

2. ELIGIBLE EMPLOYEES.

         (a) All employees of the Company and each of its Affiliates
incorporated in the United States shall be granted Rights to purchase Shares
under each Offering on the Offering Date of such Offering, provided that each
such employee otherwise meets the employment requirements of subparagraph 6(a)
of the Plan and is employed on the Offering Date of such Offering (an "Eligible
Employee").

         (b) Notwithstanding the foregoing, the following employees shall not be
Eligible Employees or be granted Rights under an Offering: (i) part-time or
seasonal employees whose customary employment is less than twenty (20) hours per
week or five (5) months or less per calendar year or (ii) 5% stockholders
(including ownership through unexercised options) described in subparagraph 6(c)
of the Plan.

         (c) Notwithstanding the foregoing, each person who first becomes an
Eligible Employee during any Offering will, on the next [JULY 1] or [JANUARY 1]
during that Offering, receive a Right under such Offering, which Right shall
thereafter be deemed to be a part of the Offering whether or not the Eligible
Employee enrolls in such Purchase Period or in a later Purchase Period during
the Offering. Such Right shall have the same characteristics as any Rights
originally granted under the Offering except that:

                  (i) the date on which such Right is granted shall be the
"Offering Date" of such Right for all purposes, including determination of the
exercise price of such Right; and

                  (ii) the Offering for such Right shall begin on its Offering
Date and end coincident with the end of the ongoing Offering.

3. RIGHTS.

         (a) Subject to the limitations contained herein and in the Plan, on
each Offering Date each Eligible Employee shall be granted the Right to purchase
the number of Shares purchasable with up to fifteen percent (15%) of such
Eligible Employee's Earnings paid during such Offering after the Eligible
Employee first commences participation; provided, however, that no employee may
purchase Shares on a particular Purchase Date that would result in more than
fifteen percent (15%) of such employee's Earnings in the period from the
Offering Date to such Purchase Date having been applied to purchase Shares under
all ongoing Offerings under the Plan and all other Company plans intended to
qualify as "employee stock purchase plans" under Section 423 of the Internal
Revenue Code of 1986, as amended (the "Code").

         (b) For this Offering, "Earnings" means the base compensation paid to
an employee, including all salary and wages (including overtime pay,
commissions, bonuses, and amounts elected to be deferred by the employee, that
would otherwise have been paid, under any cash or deferred arrangement
established by the Company), but excluding profit sharing, the cost of employee
benefits paid for by the Company, education or tuition reimbursements, imputed
income arising under any Company group insurance or benefit program, traveling
expenses, business and moving expense reimbursements, income received in
connection with stock options, contributions made by the Company under any
employee benefit plan, and similar items of compensation.

                                       2.
<PAGE>   15

         (c) Notwithstanding the foregoing, the maximum number of Shares an
Eligible Employee may purchase on any Purchase Date in an Offering shall be such
number of Shares as has a fair market value (determined as of the Offering Date
for such Offering) equal to (x) $25,000 multiplied by the number of calendar
years in which the Right under such Offering has been outstanding at any time,
minus (y) the fair market value of any other Shares (determined as of the
relevant Offering Date with respect to such Shares) which, for purposes of the
limitation of Section 423(b)(8) of the Code, are attributed to any of such
calendar years in which the Right is outstanding. The amount in clause (y) of
the previous sentence shall be determined in accordance with regulations
applicable under Section 423(b)(8) of the Code based on (i) the number of Shares
previously purchased with respect to such calendar years pursuant to such
Offering or any other Offering under the Plan, or pursuant to any other Company
plans intended to qualify as "employee stock purchase plans" under Section 423
of the Code, and (ii) the number of Shares subject to other Rights outstanding
on the Offering Date for such Offering pursuant to the Plan or any other such
Company plan.

         (d) The maximum aggregate number of Shares available to be purchased by
all Eligible Employees under an Offering shall be the number of Shares remaining
available under the Plan on the Offering Date. If the aggregate purchase of
Shares upon exercise of Rights granted under the Offering would exceed the
maximum aggregate number of Shares available, the Board shall make a pro rata
allocation of the Shares available in a uniform and equitable manner.

4. PURCHASE PRICE.

         (a) The purchase price of the Shares under the Offering shall be the
lesser of eighty-five percent (85%) of the fair market value of the Shares on
the Offering Date or eighty-five percent (85%) of the fair market value of the
Shares on the Purchase Date, in each case rounded up to the nearest whole cent
per Share.

         (b) For the Initial Offering, the fair market value of the Shares at
the time when the Offering commences shall be the price per Share at which
Shares are first sold to the public in the Company's initial public offering as
specified in the final prospectus with respect to that offering.

5. PARTICIPATION.

         (a) An Eligible Employee may elect to participate in an Offering only
at the beginning of the Offering, the start of any Purchase Period during the
Offering, or such later date specified in subparagraph 2(c).

         (b) A Participant who is enrolled in an Offering automatically will be
enrolled in the next Offering that commences after the current Offering ends.

         (c) An Eligible Employee shall become a Participant in an Offering by
delivering an agreement authorizing payroll deductions. Such deductions must be
in whole percentages, with a minimum percentage of one percent (1%) and a
maximum percentage of fifteen percent (15%) of Earnings. A Participant may not
make additional payments into his or her account. The agreement shall be made on
such enrollment form as the Company provides, and must be

                                       3.
<PAGE>   16

delivered to the Company at least ten (10) days before the Offering Date, or
before such later date specified in subparagraph 2(c), in advance of the date of
participation to be effective, unless a later time for filing the enrollment
form is set by the Board for all Eligible Employees with respect to a given
Offering Date. For the Initial Offering, the time for filing an enrollment form
and commencing participation for individuals who are Eligible Employees on the
Offering Date for the Initial Offering may be after the Offering Date, as
determined by the Company and communicated to such Eligible Employees.

         (d) If the agreement authorizing payroll deductions is required to be
delivered to the Company a specified number of days before the Offering Date to
be effective, then an employee who becomes eligible during the required delivery
period shall not be considered to be an Eligible Employee at the beginning of
the Offering but may elect to participate during the Offering as provided in
subparagraph 2(c).

6. CHANGING PARTICIPATION LEVEL DURING OFFERING; WITHDRAWAL FROM OFFERING.

         (a) A Participant may not increase or decrease his or her deductions
during the course of a Purchase Period. A Participant may increase or decrease
his or her deductions prior to the beginning of a new Purchase Period or a new
Offering, to be effective at the beginning of such new Purchase Period or new
Offering. A Participant shall make a change in his or her participation level by
delivering a notice to the Company in such form as the Company provides and up
to fifteen (15) days before the start of such new Purchase Period or new
Offering (or such shorter period of time determined by the Company and
communicated to Participants).

         (b) A Participant may reduce to zero (as set forth in subsection 6(d))
his or her deductions during a Purchase Period, effective as soon as
administratively practicable. A Participant shall make a change in his or her
participation level by delivering a notice to the Company in such form as the
Company provides and up to fifteen (15) days before the end of such Purchase
Period (or such shorter period of time determined by the Company and
communicated to Participants).

         (c) Except as otherwise specifically provided herein, a Participant may
not increase or decrease his or her participation level during the course of an
Offering.

         (d) A Participant may withdraw from an Offering and receive his or her
accumulated payroll deductions from the Offering (reduced to the extent, if any,
such deductions have been used to acquire Shares for the Participant on any
prior Purchase Dates), without interest, or reduce his or her participation
percentage to zero (0), at any time prior to the end of the Offering, excluding
only each fifteen (15) day period immediately preceding a Purchase Date (or such
shorter period of time determined by the Company and communicated to
Participants) by delivering a withdrawal notice to the Company in such form as
the Company provides.

7. PURCHASES AND BROKERAGE ACCOUNTS.

         Subject to the limitations contained herein, on each Purchase Date,
each Participant's accumulated payroll deductions (without any increase for
interest) shall be applied to the

                                       4.
<PAGE>   17

purchase of Shares, up to the maximum number of Shares permitted under the Plan
and the Offering.

         As soon as practicable following each Purchase Date, the Company shall
deliver all Shares purchased pursuant to this Section 7 to a broker designated
by the Committee. Such broker shall hold such Shares for the benefit of each
Participant for the disqualifying disposition period set forth in Code Section
422, unless sold or otherwise transferred pursuant to the terms of the Plan. A
Participant may instruct any such designated broker to sell or otherwise
transfer Shares at any time, subject to applicable securities laws and black out
periods. As may be determined by the Committee in its sole discretion from time
to time, Shares shall be delivered by means of a book entry system.

8. NOTICES AND AGREEMENTS.

         Any notices or agreements provided for in an Offering or the Plan shall
be given in writing, in a form provided by the Company, and unless specifically
provided for in the Plan or this Offering shall be deemed effectively given upon
receipt or, in the case of notices and agreements delivered by the Company, five
(5) days after deposit in the United States mail, postage prepaid.

9. EXERCISE CONTINGENT ON STOCKHOLDER APPROVAL.

         The Rights granted under an Offering are subject to the approval of the
Plan by the Shareholders as required for the Plan to obtain treatment as a
tax-qualified employee stock purchase plan under Section 423 of the Code.

10. OFFERING SUBJECT TO PLAN.

         Each Offering is subject to all the provisions of the Plan, and its
provisions are hereby made a part of the Offering, and is further subject to all
interpretations, amendments, rules and regulations that may from time to time be
promulgated and adopted pursuant to the Plan.

                                       5.

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