Document:

<PAGE>   1

                                   Exhibit 4.4

                                NETGENESIS CORP.

                          2001 NONQUALIFIED STOCK PLAN

SECTION 1.  General Purpose of the Plan; Definitions

The name of the plan is the NetGenesis Corp. 2001 Nonqualified Stock Plan (the
"Plan"). The purpose of the Plan is to encourage and enable officers and
employees of NetGenesis Corp. (the "Company") or its Subsidiaries and certain
other persons providing services to or acting as directors of the Company to
acquire a proprietary interest in the Company. It is anticipated that providing
such persons with a direct stake in the Company's welfare will assure a closer
identification of their interests with those of the Company and its
stockholders, thereby stimulating their efforts on the Company's behalf and
strengthening their desire to remain with the Company. The Company intends that
this purpose will be effected by the granting of Awards (as defined below) under
the Plan.

The following terms shall be defined as set forth below:

"Award" or "Awards", except where referring to a particular category of grant
under the Plan, shall include Non-Statutory Stock Options, Restricted Stock
Awards, Unrestricted Stock Awards and Performance Share Awards.

"Board" means the Board of Directors of the Company.

"Cause" means (i) any material breach by the participant of any agreement to
which the participant and the Company are both parties, (ii) any act (other than
Normal Retirement) or omission to act by the participant which may have a
material and adverse effect on the Company's business or on the participant's
ability to perform services for the Company, including, without limitation, the
commission of any crime (other than minor traffic violations), or (iii) any
material misconduct or material neglect of duties by the participant in
connection with the business or affairs of the Company or any Subsidiary or
Affiliate of the Company.

"Change of Control" shall have the meaning set forth in Section 14.

"Code" means the Internal Revenue Code of 1986, as amended, and any successor
Code, and related rules, regulations and interpretations.

"Committee" shall have the meaning set forth in Section 2.

"Disability" means disability as set forth in Section 22(e)(3) of the Code.

"Effective Date" means January 4, 2001.

"Eligible Person" shall have the meaning set forth in Section 4.

"Fair Market Value" on any given date means the closing price per share of the
Stock on such date as reported by a nationally recognized stock exchange, or, if
the Stock is not listed on such an exchange, as reported by NASDAQ, or, if the
Stock is not quoted on NASDAQ, the fair market value of the Stock as determined
by the Committee.

"Non-Statutory Stock Option" means any Stock Option that is not an Incentive
Stock Option as defined in Section 422 of the Code.

"Normal Retirement" means retirement from active employment with the Company and
its Subsidiaries in accordance with the retirement policies of the Company and
its Subsidiaries then in effect.

<PAGE>   2

"Officer" means an officer as defined in Rule 16a-1(f) of the Securities
Exchange Act of 1934, as amended.

"Option" or "Stock Option" means any option to purchase shares of Stock granted
pursuant to Section 5.

"Outside Director" means any director who (i) is not an employee of the Company
or of any "affiliated group," as such term is defined in Section 1504(a) of the
Code, which includes the Company (an "Affiliate"), (ii) is not a former employee
of the Company or any Affiliate who is receiving compensation for prior services
(other than benefits under a tax-qualified retirement plan) during the Company's
or any Affiliate's taxable year, (iii) has not been an officer of the Company or
any Affiliate and (iv) does not receive remuneration from the Company or any
Affiliate, either directly or indirectly, in any capacity other than as a
director. "Outside Director" shall be determined in accordance with Section
162(m) of the Code and the Treasury regulations issued thereunder.

"Performance Share Award" means an Award granted pursuant to Section 8.

"Restricted Stock" shall have the meaning set forth in Section 6.

"Restricted Stock Award" means an Award granted pursuant to Section 6.

"Stock" means the Common Stock, $.001 par value per share, of the Company,
subject to adjustments pursuant to Section 3.

"Subsidiary" means a subsidiary as defined in Section 424 of the Code.

"Unrestricted Stock Award" means an award granted pursuant to Section 7.

SECTION 2. ADMINISTRATION OF PLAN; COMMITTEE AUTHORITY TO SELECT PARTICIPANTS
AND DETERMINE AWARDS

(a) Committee. The Plan shall be administered by a committee of the Board (the
"Committee") consisting of not less than two (2) Outside Directors, but the
authority and validity of any act taken or not taken by the Committee shall not
be affected if any person administering the Plan is not an Outside Director. The
Committee shall select one of its members as its chairman and shall hold its
meetings at such times and places as it shall deem advisable. A majority of its
members shall constitute a quorum, and all actions of the Committee shall
require the affirmative vote of a majority of its members. Any action may be
taken by a written instrument signed by all of the members, and any action so
taken shall be as fully effective as if it had been taken by a vote of a
majority of the members at a meeting duly called and held. Except as
specifically reserved to the Board under the terms of the Plan, the Committee
shall have full and final authority to operate, manage and administer the Plan
on behalf of the Company. Action by the Committee shall require the affirmative
vote of a majority of all members thereof.

(b) Powers of Committee. The Committee shall have the power and authority to
grant and modify Awards consistent with the terms of the Plan, including the
power and authority:

      (i)     to select the persons to whom Awards may from time to time be
      granted;

      (ii) to determine the time or times of grant, and the extent, if any, of
      Non-Statutory Stock Options, Restricted Stock, Unrestricted Stock and
      Performance Shares, or any combination of the foregoing, granted to any
      one or more participants;

      (iii)   to determine the number of shares to be covered by any Award;

      (iv) to determine and modify the terms and conditions, including
      restrictions, not inconsistent with the terms of the Plan, of any Award,
      which terms and conditions may differ among individual Awards and
      participants, and to approve the form of written instruments evidencing
      the Awards; provided, however, that no such action shall adversely affect
      rights under any outstanding Award without the participant's consent;

      (v)     to accelerate the exercisability or vesting of all or any portion
      of any Award;

                                     - 10 -
<PAGE>   3

      (vi)    subject to the provisions of Section 5(b), to extend the period in
      which any outstanding Stock Option may be exercised;

      (vii)   to determine whether, to what extent, and under what circumstances
      Stock and other amounts payable with respect to an Award shall be deferred
      either automatically or at the election of the participant and whether and
      to what extent the Company shall pay or credit amounts equal to interest
      (at rates determined by the Committee) or dividends or deemed dividends on
      such deferrals;

      (viii)  to delegate to other persons the responsibility for performing
      ministerial actions in furtherance of the Plan's purpose; and

      (ix)    to adopt, alter and repeal such rules, guidelines and practices
      for administration of the Plan and for its own acts and proceedings as it
      shall deem advisable; to interpret the terms and provisions of the Plan
      and any Award (including related written instruments); to make all
      determinations it deems advisable for the administration of the Plan; to
      decide all disputes arising in connection with the Plan; and to otherwise
      supervise the administration of the Plan.

All decisions and interpretations of the Committee shall be binding on all
persons, including the Company and Plan participants.

SECTION 3.  SHARES ISSUABLE UNDER THE PLAN; MERGERS; SUBSTITUTION

(a) Shares Issuable. The maximum number of shares of Stock with respect to which
Awards may be granted under the Plan, subject to adjustment upon changes in
capitalization of the Company as provided in this Section 3, shall be 1,000,000
shares of Stock. For purposes of this limitation, if any shares of Stock covered
by an Award granted under the Plan, or to which such an Award relates, are
forfeited, or if an Award has expired, terminated or been canceled for any
reason whatsoever (other than by reason of exercise or vesting), then such
shares of Stock or the shares of Stock covered by such Award, as the case may
be, shall be added back to the shares of Stock with respect to which Awards may
be granted under the Plan. Subject to such overall limitation, any type or types
of Award may be granted with respect to shares of Stock. Shares of Stock issued
under the Plan may be authorized but unissued shares or shares reacquired by the
Company.

(b) Limitation on Awards. Notwithstanding anything to the contrary set forth
herein, to the extent necessary to qualify as a "broadly based plan" under the
applicable Marketplace Rules of the Nasdaq Stock Market, Inc. ("Nasdaq"), no
more than forty-nine percent (49%) of the Awards hereunder shall be granted to
directors and Officers of the Company as measured on the earlier of the date of
the Plan's expiration or the third anniversary of the Effective Date, and on
each anniversary thereafter, unless otherwise approved by Nasdaq.

(c) Stock Dividends, Mergers, etc. In the event that the Company effects a stock
dividend, stock split or similar change in capitalization affecting the Stock,
the Committee shall make appropriate adjustments in (i) the number and kind of
shares of stock or securities with respect to which Awards may thereafter be
granted (including without limitation the limitations set forth in Sections 3(a)
and (b) above), (ii) the number and kind of shares remaining subject to
outstanding Awards, and (iii) the option or purchase price in respect of such
shares.

(d) Substitute Awards. The Committee may grant Awards under the Plan in
substitution for stock and stock based awards held by employees of another
corporation who concurrently become employees of the Company or a Subsidiary as
the result of a merger or consolidation of the employing corporation with the
Company or a Subsidiary or the acquisition by the Company or a Subsidiary of
property or stock of the employing corporation. The Committee may direct that
the substitute awards be granted on such terms and conditions as the Committee
considers appropriate in the circumstances. Shares which may be delivered under
such substitute awards may be in addition to the maximum number of shares
provided for in Section 3(a).

SECTION 4.  ELIGIBILITY

                                     - 11 -
<PAGE>   4

Subject to the limitations set forth in Section 3(b), Awards may be granted to
officers, directors and employees of the Company or its Subsidiaries and to
consultants and other individuals providing services to the Company or its
Subsidiaries ("Eligible Persons").

SECTION 5.  STOCK OPTIONS

The Committee may grant Stock Options to Eligible Persons pursuant to the Plan.
Any Stock Option granted under the Plan shall be in such form as the Committee
may from time to time approve. Stock Options granted under the Plan shall be
Non-Statutory Stock Options.

The Committee in its discretion may determine the effective date of Stock
Options. Stock Options granted pursuant to this Section 5 shall be subject to
the following terms and conditions and the terms and conditions of Sections 9
and 14 and shall contain such additional terms and conditions, not inconsistent
with the terms of the Plan, as the Committee shall deem desirable:

      (a) Exercise Price. The exercise price per share for the Stock covered by
      a Stock Option granted pursuant to this Section 5 shall be determined by
      the Committee at the time of grant.

      (b) Option Term. The term of each Stock Option shall be fixed by the
      Committee, but no Stock Option shall be exercisable more than ten (10)
      years after the date the option is granted.

      (c) Exercisability; Rights of a Stockholder. Stock Options shall become
      vested and exercisable at such time or times, whether or not in
      installments, as shall be determined by the Committee at or after the
      grant date. The Committee may at any time accelerate the exercisability of
      all or any portion of any Stock Option. An optionee shall have the rights
      of a stockholder only as to shares acquired upon the exercise of a Stock
      Option and not as to unexercised Stock Options.

      (d) Method of Exercise. Stock Options may be exercised in whole or in
      part, by delivering written notice of exercise to the Company, specifying
      the number of shares to be purchased. Payment of the purchase price 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)  in the form of shares of Stock owned by the optionee for a
            period of at least six (6) months and not then subject to
            restrictions, if permitted by the Committee, in its discretion. Such
            surrendered shares shall be valued at Fair Market Value on the
            exercise date;

            (iii) 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 purchase price; provided that
            in the event the optionee chooses to pay the 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 procedure. The Company need not act upon such exercise
            notice until the Company receives full payment of the exercise
            price; or

            (iv)  by any other means (including, without limitation, by delivery
            of a promissory note of the optionee payable on such terms as are
            specified by the Committee; provided, however, that the interest
            rate borne by such note shall not be less than the lowest applicable
            federal rate, as defined in Section 1247(d) of the Code) which the
            Committee determines are consistent with the purpose of the Plan and
            with applicable laws and regulations.

      The delivery of certificates representing shares of Stock to be purchased
      pursuant to the exercise of a Stock Option will be contingent upon receipt
      from the Optionee (or a purchaser acting in his stead in accordance with
      the provisions of the Stock Option) by the Company of the full purchase
      price for such shares and the fulfillment of any other requirements
      contained in the Stock Option or imposed by applicable law.

                                     - 12 -
<PAGE>   5

      (e) Non-transferability of Options. Except as the Committee may otherwise
      provide, no Stock Option shall be transferable other than by will or by
      the laws of descent and distribution and all Stock Options shall be
      exercisable, during the optionee's lifetime, only by the optionee.

      (f) Form of Settlement. Shares of Stock issued upon exercise of a Stock
      Option shall be free of all restrictions under the Plan, except as
      otherwise provided in this Plan.

SECTION 6.  RESTRICTED STOCK AWARDS

(a) Nature of Restricted Stock Award. The Committee in its discretion may grant
Restricted Stock Awards to any Eligible Person, entitling the recipient to
acquire, for a purchase price determined by the Committee, shares of Stock
subject to such restrictions and conditions as the Committee may determine at
the time of grant ("Restricted Stock"), including continued employment and/or
achievement of pre-established performance goals and objectives.

(b) Acceptance of Award. A participant who is granted a Restricted Stock Award
shall have no rights with respect to such Award unless the participant shall
have accepted the Award within 10 days (or such shorter date as the Committee
may specify) following the delivery of written notice to the participant of the
Award by making payment to the Company of the specified purchase price of the
shares covered by the Award and by executing and delivering to the Company a
written instrument that sets forth the terms and conditions applicable to the
Restricted Stock in such form as the Committee shall determine.

(c) Rights as a Stockholder. Upon complying with Section 6(b) above, a
participant shall have all the rights of a stockholder with respect to the
Restricted Stock, including voting and dividend rights, subject to
non-transferability restrictions and Company repurchase or forfeiture rights
described in this Section 6 and subject to such other conditions contained in
the written instrument evidencing the Restricted Award. Unless the Committee
shall otherwise determine, certificates evidencing shares of Restricted Stock
shall remain in the possession of the Company until such shares are vested as
provided in Section 6(e) below.

(d) Restrictions. Shares of Restricted Stock may not be sold, assigned,
transferred, pledged or otherwise encumbered or disposed of except as
specifically provided herein. In the event of termination of employment by the
Company and its Subsidiaries for any reason (including death, Disability, Normal
Retirement and for Cause), the Company shall have the right, at the discretion
of the Committee, to repurchase shares of Restricted Stock with respect to which
conditions have not lapsed at their purchase price, or to require forfeiture of
such shares to the Company if acquired at no cost, from the participant or the
participant's legal representative. The Company must exercise such right of
repurchase or forfeiture within 60 days following such termination of employment
(unless otherwise specified in the written instrument evidencing the Restricted
Stock Award).

(e) Vesting of Restricted Stock. The Committee at the time of grant shall
specify the date or dates and/or the attainment of pre-established performance
goals, objectives and other conditions on which the non-transferability of the
Restricted Stock and the Company's right of repurchase or forfeiture shall
lapse. Subsequent to such date or dates and/or the attainment of such
pre-established performance goals, objectives and other conditions, the shares
on which all restrictions have lapsed shall no longer be Restricted Stock and
shall be deemed "vested." The Committee at any time may accelerate such date or
dates and otherwise waive or, subject to Section 12, amend any conditions of the
Award.

(f) Waiver, Deferral and Reinvestment of Dividends. The written instrument
evidencing the Restricted Stock Award may require or permit the immediate
payment, waiver, deferral or investment of dividends paid on the Restricted
Stock.

SECTION 7.  UNRESTRICTED STOCK AWARDS

(a) Grant or Sale of Unrestricted Stock. The Committee in its discretion may
grant or sell to any Eligible Person shares of Stock free of any restrictions
under the Plan ("Unrestricted Stock") at a purchase price determined by the
Committee. Shares of Unrestricted Stock may be granted or sold as described in
the preceding sentence in respect of past services or other valid consideration.

                                     - 13 -
<PAGE>   6

(b) Restrictions on Transfers. The right to receive unrestricted Stock may not
be sold, assigned, transferred, pledged or otherwise encumbered, other than by
will or the laws of descent and distribution.

SECTION 8.  PERFORMANCE SHARE AWARDS

Nature of Performance Shares. A Performance Share Award is an award entitling
the recipient to acquire shares of Stock upon the attainment of specified
performance goals. The Committee may make Performance Share Awards independent
of or in connection with the granting of any other Award under the Plan.
Performance Share Awards may be granted under the Plan to any Eligible Person.
The Committee in its discretion shall determine whether and to whom Performance
Share Awards shall be made, the performance goals applicable under each such
Award, the periods during which performance is to be measured, and all other
limitations and conditions applicable to the awarded Performance Shares.

SECTION 9.  TERMINATION OF STOCK OPTIONS

(a)      Standard Termination Provisions:

            (i) Termination by Death. If any participant's employment by or
            services to the Company and its Subsidiaries terminates by reason of
            death, any Stock Option owned by such participant may thereafter be
            exercised to the extent exercisable at the date of death, by the
            legal representative or legatee of the participant, for a period of
            one year (or such longer period as the Committee shall specify at
            any time) from the date of death, or until the expiration of the
            stated term of the Stock Option, if earlier.

            (ii)  Termination by Reason of Disability or Normal Retirement.

                  (A) Any Stock Option held by a participant whose employment by
                  or service to the Company and its Subsidiaries has terminated
                  by reason of Disability may thereafter be exercised, to the
                  extent it was exercisable at the time of such termination, for
                  a period of 180 days from the date of such termination, or
                  until the expiration of the stated term of the Option, if
                  earlier.

                  (B) Any Stock Option held by a participant whose employment by
                  or service to the Company and its Subsidiaries has terminated
                  by reason of Normal Retirement may thereafter be exercised, to
                  the extent it was exercisable at the time of such termination,
                  for a period of 90 days from the date of such termination, or
                  until the expiration of the stated term of the Option, if
                  earlier.

                  (C) The Committee shall have sole authority and discretion to
                  determine whether a participant's employment or services have
                  been terminated by reason of Disability or Normal Retirement.

                  (D) Except as otherwise provided by the Committee at the time
                  of grant, the death of a participant during a period provided
                  in this Section 9(a)(ii) for the exercise of a Stock Option
                  shall extend such period for one (1) year from the date of
                  death, subject to termination on the expiration of the stated
                  term of the Option, if earlier.

            (iii) Termination for Cause. If any participant's employment by or
            service to the Company and its Subsidiaries has been terminated for
            Cause, any Stock Option held by such participant shall immediately
            terminate and be of no further force and effect; provided, however,
            that the Committee may, in its sole discretion at the time of such
            termination, provide that such Option can be exercised for a period
            of up to 60 days from the date of termination, or until the
            expiration of the stated term of the Option, if earlier.

            (iv) Other Termination. Unless otherwise determined by the
            Committee, if a participant's employment by or services to the
            Company and its Subsidiaries terminates for any reason other than
            death, Disability, Normal Retirement or for Cause, any Stock Option
            held by such participant may

                                     - 14 -
<PAGE>   7

            thereafter be exercised, to the extent it was exercisable on the
            date of such termination, for 60 days from the date of termination,
            or until the expiration of the stated term of the Option, if
            earlier.

(b) Committee Discretion. Notwithstanding the foregoing, the Committee may grant
Stock Options under the Plan which contain such terms and conditions with
respect to its termination as the Committee, in its discretion, may from time to
time determine.

SECTION 10.  TAX WITHHOLDING

(a) Payment by Participant. Each participant shall, no later than the date as of
which the value of an Award or of any Stock or other amounts received thereunder
first becomes includable in the gross income of the participant for Federal
income tax purposes, pay to the Company, or make arrangements satisfactory to
the Committee regarding the payment of, any Federal, state or local taxes of any
kind required by law to be withheld with respect to such income. The Company and
its Subsidiaries shall, to the extent permitted by law, have the right to deduct
any such taxes from any payment of any kind otherwise due to the participant.

(b) Payment in Shares. A Participant may elect, with the consent of the
Committee, to have such tax withholding obligation satisfied, in whole or in
part, by (i) authorizing the Company to withhold from shares of Stock to be
issued pursuant to an Award a number of shares with an aggregate Fair Market
Value (as of the date the withholding is effected) that would satisfy the
minimum withholding amount due with respect to such Award, or (ii) transferring
to the Company shares of Stock owned by the participant for a period of at least
six (6) months and with an aggregate Fair Market Value (as of the date the
withholding is effected) that would satisfy the withholding amount due.

SECTION 11.  TRANSFER, LEAVE OF ABSENCE, ETC.

For purposes of the Plan, the following events shall not be deemed a termination
of employment:

(a) a transfer to the employment of the Company from a Subsidiary or from the
Company to a Subsidiary, or from one Subsidiary to another; and

(b) an approved leave of absence for military service or sickness, or for any
other purpose approved by the Company, if the employee's right to re-employment
is guaranteed either by a statute or by contract or under the policy pursuant to
which the leave of absence was granted or if the Committee otherwise so provides
in writing.

SECTION 12.  AMENDMENTS AND TERMINATION

The Board may at any time amend or discontinue the Plan and the Committee may at
any time amend or cancel any outstanding Award (or provide substitute Awards at
the same or reduced exercise or purchase price or with no exercise or purchase
price, but such price, if any, must satisfy the requirements which would apply
to the substitute or amended Award if it were then initially granted under this
Plan) for the purpose of satisfying changes in law or for any other lawful
purpose, but no such action shall adversely affect rights under any outstanding
Award without the holder's consent.

SECTION 13.  STATUS OF PLAN

With respect to the portion of any Award which has not been exercised, a
participant shall have no rights greater than those of a general creditor of the
Company unless the Committee shall otherwise expressly determine in connection
with any Award or Awards. In its sole discretion, the Committee may authorize
the creation of trusts or other arrangements to meet the Company's obligations
to deliver Stock or make payments with respect to Awards hereunder, provided
that the existence of such trusts or other arrangements is consistent with the
provision of the foregoing sentence.

SECTION 14.  CHANGE OF CONTROL PROVISIONS

                                     - 15 -
<PAGE>   8

(a) Upon the occurrence of a Change of Control as defined in this Section 14:

            (i) after the effective date of such Change of Control, each holder
            of an outstanding Stock Option, Restricted Stock Award or
            Performance Share Award shall be entitled, upon exercise of such
            Award, to receive, in lieu of shares of Stock, shares of such stock
            or other securities, cash or property (or consideration based upon
            shares of such stock or other securities, cash or property) as the
            holders of shares of Stock received in connection with the Change of
            Control; and

            (ii) the vesting schedule, if any, of each unexercised and unexpired
            Stock Option, Restricted Stock Award, and Performance Share Award
            shall, effective immediately prior to the effective date of such
            Change of Control, be accelerated by twelve (12) months such that an
            additional number of shares, equal to the number that under the
            terms of the Award in question would have vested had the holder
            remained employed during the twelve (12) month period following the
            effective date of the Change of Control, will vest immediately prior
            to the effective date of the Change of Control.

(b) "Change of Control" shall mean the occurrence of any one of the following
events:

            (i) any "person" becomes a "beneficial owner" (as such terms are
            defined in Rule 13d-3 promulgated under the Securities and Exchange
            Act of 1934, as amended) (other than the Company, any trustee or
            other fiduciary holding securities under an employee benefit plan of
            the Company, or any corporation owned, directly or indirectly, by
            the stockholders of the Company in substantially the same
            proportions as their ownership of stock of the Company), directly or
            indirectly, of securities of the Company representing fifty percent
            (50%) or more of the combined voting power of the Company's then
            outstanding securities; or

            (ii) the stockholders of the Company approve a merger or
            consolidation of the Company with any other corporation or other
            entity, other than a merger or consolidation which would result in
            the voting securities of the Company outstanding immediately prior
            thereto continuing to represent (either by remaining outstanding or
            by being converted into voting securities of the surviving entity)
            more than fifty percent (50%) of the combined voting power of the
            voting securities of the Company or such surviving entity
            outstanding immediately after such merger or consolidation; or

            (iii) the stockholders of the Company approve a plan of complete
            liquidation of the Company or an agreement for the sale or
            disposition by the Company of all or substantially all of the
            Company's assets.

SECTION 15.  GENERAL PROVISIONS

(a) No Distribution; Compliance with Legal Requirements. The Committee may
require each person acquiring shares pursuant to an Award to represent to and
agree with the Company in writing that such person is acquiring the shares
without a view to distribution thereof.

No shares of Stock shall be issued pursuant to an Award until all applicable
securities laws and other legal and stock exchange requirements have been
satisfied. The Committee may require the placing of such stop orders and
restrictive legends on certificates for Stock and Awards as it deems
appropriate.

(b) Delivery of Stock Certificates. Delivery of stock certificates to
participants under this Plan shall be deemed effected for all purposes when the
Company or a stock transfer agent of the Company shall have delivered such
certificates in the United States mail, addressed to the participant, at the
participant's last known address on file with the Company.

(c) Other Compensation Arrangements; No Employment Rights. Nothing contained in
this Plan shall prevent the Board from adopting other or additional compensation
arrangements, including trusts, subject to stockholder approval if such approval
is required; and such arrangements may be either generally applicable or
applicable only in specific cases. The adoption of the Plan or any Award under
the Plan does not confer upon any employee any right to continued employment
with the Company or any Subsidiary.

                                     - 16 -
<PAGE>   9

SECTION 16.  EFFECTIVE DATE OF PLAN

The Plan shall become effective upon the adoption by the Board of Directors of
the Company.

SECTION 17.  GOVERNING LAW

This Plan shall be governed by, and construed and enforced in accordance with,
the substantive laws of the Commonwealth of Massachusetts without regard to its
principles of conflicts of laws.

                                      * * *

                                     - 17 -<PAGE>   1

                                                                     EXHIBIT 4.1

                                  PROVANT, INC.
                        1998 EMPLOYEE STOCK PURCHASE PLAN

                         as amended on November 15, 2000

     1.   PURPOSE

     The Provant, Inc. Employee Stock Purchase Plan (the "Plan") is intended to
provide employees of Provant, Inc. (the "Company") an opportunity to acquire a
proprietary interest in the Company through the purchase of shares of the common
stock of the Company ("Common Stock" or "Stock"). It is the intention of the
Company to have the Plan qualify as an employee stock purchase plan under
Section 423 of the Internal Revenue Code of 1986, as amended (the "Code"). The
provisions of the Plan shall be construed so as to extend and limit
participation in a manner consistent with the requirements of such section of
the Code.

     2.   ELIGIBILITY

     Any employee of the Company is eligible to participate in the Plan provided
he or she (i) customarily is employed for more than 20 hours per week, (ii) is
employed by the Company on the Offering Commencement Date (as defined in Section
3 of this Plan) or, if such date is not a regular business day for the Company,
the first regular business day of the Company after the Offering Commencement
Date, and (iii) is employed by the Company as of the date(s) each payroll
deduction and/or lump sum contribution made in accordance with Section 4 of this
Plan is made.

     Notwithstanding the foregoing, no employee will be eligible to participate
in the Plan if (i) immediately after the grant of an option, the employee would
own stock or hold outstanding options to purchase stock possessing five (5)
percent or more of the total combined voting power or value of all classes of
stock of the Company, or (ii) the grant of the option would permit the
participant's rights to purchase stock under all employee stock purchase plans
of the Company to accrue at a rate which exceeds $25,000 of the fair market
value of the stock (determined at the time the option is granted) for each
calendar year in which such option is outstanding at any time.

     For purposes of this Section 2, the rules of Section 424(d) of the Code
shall apply in determining stock ownership of an employee, and stock which an
employee may purchase under outstanding options shall be treated as stock owned
by the employee.

     3.   OFFERING PERIODS

     Under the Plan, there will be two six-month offering periods each year. The
offering of Common Stock (an "Offering") will begin on each of June 1 and
December 1 of a calendar year (each an "Offering Commencement Date"), and will
end on each of November 30 and May 31, respectively (each an "Offering
Termination Date"). The first Offering shall begin on June 1, 1998.

<PAGE>   2

     4.   PARTICIPATION

          (a)  An eligible employee may elect to participate in any Offering by
               having payroll deductions made and/or by making a lump sum
               contribution in accordance with Subsection (b), (c) or (d) of
               this Section 4 over the six-month period commencing on the
               Offering Commencement Date (a "Plan Period"). An eligible
               employee whose employment with the Company commences after the
               Offering Commencement Date in any Plan Period may elect to
               participate in the next following Plan Period, but shall not be
               entitled to participate in the Offering that is in progress on
               the date his or her employment with the Company begins.

          (b)  Participation Through Payroll Deduction: An eligible employee may
               participate in any Offering by completing an authorization form
               for payroll deductions and filing it with the Company no later
               than a date prior to the Offering Commencement Date for the
               Offering designated by the Administrator (as defined in Section
               10) or, in the absence of such a designation, the date five
               business days before the Offering Commencement Date. Payroll
               deductions will be spread evenly over the Plan Period or such
               shorter period during which an eligible employee may participate
               in the Plan, as provided in this Section 4. An eligible employee
               electing to participate in the Plan by means of payroll
               deductions for a particular Plan Period may not alter the rate of
               payroll deductions during the period. All such payroll deductions
               shall be credited to the participant's account under the Plan.
               Employees on leave of absence for a period not exceeding 90 days
               will be permitted to continue participating in the Offering, if
               they continue making periodic payments to the Company.

          (c)  Participation Through Lump Sum Contribution: An eligible employee
               may participate in any Offering by means of a lump sum payment
               made during the Plan Period for such Offering by filing a written
               election form with the Administrator prior to the end of such
               Plan Period. Such written election form shall be accompanied by
               the lump sum payment. No more than one lump sum contribution may
               be made during a single Plan Period.

          (d)  Participation Through Contribution of Payroll Deductions and Lump
               Sum Contribution: An eligible employee may participate in any
               Offering by making a combination of payroll deductions and a lump
               sum contribution in accordance with Subsections (b) and (c) of
               this Section 4.

          (e)  In no event shall the aggregate of all payroll deductions and/or
               any lump sum contribution made with respect to a single Plan
               Period for an eligible employee be less than 2 percent (2%) or
               more than ten percent (10%) of the employee's base pay earned
               during the Plan Period and; provided, further, that lump sum
               contributions must not be less than $100 or 2 percent (2%) of the
               employee's base pay, whichever is greater. For purposes of the
               Plan, "base pay" means commissions and regular salary or

                                      -2-
<PAGE>   3

               straight time earnings, excluding overtime payments, bonuses and
               incentive or contingent payments.

     5.   OPTION GRANT AND PRICE

          (a)  A participant's authorization for payroll deductions for any
               Offering shall become effective as of the Offering Commencement
               Date or, if applicable, the date upon which he or she elects to
               participate as permitted in Section 4, and the participant shall
               be deemed to have been granted an option as of the applicable
               date to purchase as many full shares of Common Stock as can be
               purchased with the payroll deductions credited to his or her
               account during the Offering.

          (b)  A participant's election to participate in the Plan by means of a
               lump sum contribution shall become effective as of the date such
               contribution is received by the Administrator (or, if later, the
               date such participant's written election to participate in the
               Plan for such Plan Period is received by the Administrator) and
               the participant shall be deemed to have been granted an option as
               of such date to purchase as many full shares of Common Stock as
               can be purchased with the lump sum contribution.

          (c)  The option price of Common Stock for any Offering will be equal
               to the lower of 85 percent of the last sale price of the Stock on
               the Nasdaq National Market on (i) the day immediately prior to
               the Offering Commencement Date or (ii) the day immediately prior
               to the Offering Termination Date for the Offering or, in either
               case, if no trading occurred in the Stock on the Nasdaq National
               Market on such date, then the next prior business day on which
               trading occurred in the Stock on the Nasdaq National Market.

     6.   WITHDRAWAL

          (a)  A participant may withdraw payroll deductions and/or lump sum
               contributions credited to his or her account for any Offering by
               giving written notice to the Company at any time up to a date
               prior to the Offering Termination Date designated by the
               Administrator (as defined in Section 10). Upon notice of
               withdrawal, all of the participant's payroll deductions and/or
               lump sum contribution for the offering will be paid promptly
               without interest, and no further payroll deductions will be made.
               A participant who withdraws from an Offering cannot participate
               again in that Offering, but can participate in any other Offering
               for which he or she is eligible.

          (b)  Upon termination of a participant's employment for any reason
               other than death, the payroll deductions and/or lump sum
               contribution credited to the participant's account will be
               returned to the participant without interest. If the participant
               dies after termination of employment, such amount shall be
               returned to the person or persons entitled thereto under Section
               11.

                                      -3-
<PAGE>   4

          (c)  Upon termination of a participant's employment because of death,
               the participant's beneficiary will have the right to elect, by
               written notice given to the Company within the 30-day period
               commencing with the date of the death of the participant, either
               (i) to withdraw all of the payroll deductions and/or the lump sum
               contribution credited to the participant's account under the
               Plan, or (ii) to exercise the participant's option on the
               Offering Termination Date for the purchase of the number of full
               shares of Common Stock which the lump sum contribution and/or
               accumulated payroll deductions in his or her account will
               purchase at the applicable option price. In lieu of any
               fractional shares, any excess in such account will be returned to
               the participant's beneficiary without interest. In the event that
               no written notice of election is received by the Company, the
               beneficiary will be deemed to have elected to withdraw the lump
               sum contribution and/or payroll deductions credited to the
               participant's account at the date of the participant's death and
               such amount will be paid promptly to the beneficiary without
               interest.

     7.   EXERCISE OF OPTION

     Unless a participant gives written notice to the Company as provided in
Section 6(a), an option for the purchase of Common Stock with payroll deductions
and/or a lump sum contribution for any Offering will be deemed to have been
exercised automatically on the Offering Termination Date for the Offering for
the number of full shares of Common Stock which the accumulated payroll
deductions and/or lump sum contribution in the participant's account on that
date will purchase at the applicable option price. In lieu of fractional shares,
any excess in the account will be returned to the participant without interest.

     8.   DELIVERY

     As promptly as practicable after the Offering Termination Date for any
Offering, the Company will deliver to each participant, as appropriate, the
Common Stock purchased upon the exercise of his or her option.

     9.   STOCK

          (a)  The maximum number of shares of Common Stock which may be made
               available for purchase under the Plan shall be 500,000 shares,
               subject to adjustment upon changes in the capitalization of the
               Company; PROVIDED, however, that effective November 30, 2000, the
               maximum number of shares of Common Stock which may be made
               available for purchase under the Plan shall be increased to
               1,000,000 shares, subject to adjustment upon changes in the
               capitalization of the Company. Shares shall be made available
               from authorized, unissued and reserved Common Stock of the
               Company. If the total number of shares for which options are
               exercised for any Offering exceeds the number of shares
               available, the Company will make a pro rata allocation of the
               shares available in as nearly uniform a manner as practicable and
               as the Company may determine to be equitable. The balance of
               payroll deductions and/or any lump sum

                                      -4-
<PAGE>   5

               contribution credited to the account of each participant under
               the Plan shall be returned as promptly as possible, without
               interest.

          (b)  The participant will have no interest in Stock covered by an
               option until such option has been exercised.

          (c)  Stock to be delivered to a participant with respect to any
               Offering under the Plan will be registered in the name of the
               participant or, if the participant so directs by written notice
               to the Company before the Offering Termination Date, in the names
               of the participant and such other person as may be designated by
               the participant, as joint tenants with rights of survivorship, to
               the extent permitted by applicable law.

          (d)  The Board of Directors may, in its discretion, require as
               conditions to the exercise of any option, that either (i) a
               registration statement under the Securities Act of 1933, as
               amended, with respect to shares covered by the option shall be
               effective, or (ii) the participant shall represent, in such form
               and manner as the Company may determine, that it is the
               participant's intention to purchase the shares only for
               investment. The participant shall deliver to the Company such
               certificates and other documents as may be requested by the
               Company in order to evidence compliance with applicable state and
               federal securities regulations.

     10.  ADMINISTRATION

     The Plan initially shall be administered by the Chief Financial Officer of
the Company (the "Administrator"). The interpretation and construction of any
provision of the Plan and the adoption of rules and regulations for
administering the Plan shall be made by the Administrator, subject, however, to
the final determination of the Board of Directors of the Company. Determinations
made by the Administrator and approved by the Board of Directors with respect to
any matter or provision contained in the Plan shall be final, conclusive and
binding upon the Company and upon all participants, their legal representatives
and any other persons under the Plan. Any rule or regulation adopted by the
Administrator shall remain in full force and effect unless and until altered,
amended or repealed by the Board of Directors.

     11.  DESIGNATION OF BENEFICIARY

     A participant may file a written designation of a beneficiary to receive
any Stock or cash in the event of the participant's death. Any designation of a
beneficiary may be changed by the participant at any time by written notice to
the Administrator. Upon the death of a participant and upon receipt by the
Administrator of proof of the identity and existence at the time of the
participant's death of a beneficiary validly designated under the Plan, the
Company will deliver such Stock or cash to the participant's beneficiary. In the
event that no beneficiary survives the participant, the Company will deliver
such Stock or cash to the executor or administrator of the participant's estate.
If no executor or administrator has been appointed to the knowledge of the
Administrator, the Company, in its discretion, may deliver such Stock or cash to
the spouse or to any one or more dependents of the participant as the
Administrator may designate. No

                                      -5-
<PAGE>   6

beneficiary shall, prior to the death of the participant, acquire any interest
in any Stock or cash credited to the participant under the Plan.

     12.  TRANSFERABILITY

     Neither contributions credited to a participant's account (whether made by
payroll deductions and/or lump sum contribution) nor any rights with regard to
the exercise of an option or the receipt of Stock under the Plan may be
assigned, transferred, pledged or otherwise disposed of in any way by a
participant. Any such assignment, transfer, pledge or other disposition shall be
without effect, except that the Company may treat such an act as an election to
withdraw funds in accordance with Section 6.

     13.  USE OF FUNDS

     All payroll deductions and lump sum contributions received or held by the
Company under the Plan will be general assets of the Company and may be used for
any corporate purpose. The Company shall not be obligated to segregate such
payroll deductions or lump sum contributions.

     14.  EFFECT OF CHANGES IN COMMON STOCK

     If the Company subdivides or reclassifies Common Stock which has been or
may be optioned under the Plan, or declares any dividend payable in shares of
Common Stock, or takes any other action of a similar nature affecting such
Stock, then the number and class of shares of Common Stock which may thereafter
be optioned (in the aggregate and with respect to any individual participant)
will be adjusted accordingly and, in the case of each option outstanding at the
time of any such action, the number and class of shares which may thereafter be
purchased pursuant to the option and the option price per share shall be
adjusted to the extent determined by the Board of Directors, upon the
recommendation of the Administrator, to be necessary to preserve unimpaired and
undiluted the rights of the holder of such option.

     15.  AMENDMENT

     The Board of Directors of the Company may at any time amend the Plan;
provided, however, that the Board may not make any change in any option
previously granted which would adversely affect the rights of any participant.
No amendment may be made without prior approval of the holders of a majority of
the shares of Common Stock of the Company issued, outstanding and entitled to
vote if such amendment would:

          (a)  require the sale of more shares of Stock than are authorized
               under Section 9 of the Plan; or

          (b)  permit payroll deductions at a rate, or lump sum contributions in
               an amount, in excess of 10 percent of a participant's base pay.

     16.  DISCONTINUANCE OR TERMINATION

     The Plan shall terminate on the Offering Termination Date on which the
number of shares for which options are exercised exceeds the number of shares
available for the Offering.

                                      -6-
<PAGE>   7

The Board of Directors may at any other time terminate the Plan. No
discontinuance or termination may affect options previously granted.

     17.  NOTICES

     All notices or other communications by a participant to the Company under
the Plan shall be deemed to have been duly given when received by the Company.

     18.  MERGER OR CONSOLIDATION

     In the event of a merger or consolidation to which the Company is a party
(other than a merger or consolidation in which shareholders of the Company
immediately prior to the merger or consolidation shall immediately following the
merger or consolidation own securities in the resulting corporation having the
right to cast more than 50% of the votes necessary to elect a majority of the
Directors of the resulting corporation), or in the event of a sale or transfer
of all or substantially all of the Company's assets, the Plan shall terminate
and the date of such merger, consolidation, sale or transfer shall be the
Offering Termination Date for the Plan Period within which such event occurs. To
the extent of payroll deductions and/or lump sum contributions credited to each
participant's account on the Offering Termination Date, the holder of each
option then outstanding shall be deemed to have exercised the option and shall
be entitled to receive, as nearly as reasonably may be determined, the
securities or property to which a holder of Common Stock was entitled
immediately prior to the merger, consolidation, sale or transfer. The Board of
Directors shall take such steps in connection with any merger, consolidation,
sale or transfer as it may deem necessary to insure that the provisions of
Section 14 will thereafter be applicable, as nearly as reasonably possible, to
such securities or property.

     19.  APPROVAL OF STOCKHOLDERS

     The Plan shall be effective when approved by the holders of a majority of
the shares of Common Stock of the Company present and entitled to vote either at
the next annual meeting of stockholders, a special meeting in lieu of the annual
meeting, or a special meeting of holders of Common Stock called, at least in
part, to act upon the Plan, provided, that a quorum representing a majority of
all outstanding voting stock of the Company is, either in person or by proxy,
present and voting on the Plan.

     20.  PARTICIPANT AND EMPLOYEE RIGHTS

     The Plan shall not be deemed to give any participant or any employee the
right to be retained in the employ of the Company, or to confer on or create in
any participant or any employee any rights, legal or equitable, except such as
are expressly set forth herein.

     21.  GOVERNING LAW

     The Plan shall be construed, and the rights and liabilities of all persons
under the Plan shall be determined, in accordance with the laws of the
Commonwealth of Massachusetts, to the extent not superseded by federal law.

                                      -7-

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"}]]