Document:

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                                                                    EXHIBIT 10.5

                              CALDERA SYSTEMS, INC.
                        2000 EMPLOYEE STOCK PURCHASE PLAN

I.       PURPOSE OF THE PLAN

         This Employee Stock Purchase Plan is intended to promote the interests
of Caldera Systems, Inc., a Delaware corporation, by providing eligible
employees with the opportunity to acquire a proprietary interest in the
Corporation through participation in a payroll-deduction based employee stock
purchase plan designed to qualify under Section 423 of the Code.

         Capitalized terms herein shall have the meanings assigned to such terms
in the attached Appendix.

II.      ADMINISTRATION OF THE PLAN

         The Plan Administrator shall have full authority to interpret and
construe any provision of the Plan and to adopt such rules and regulations for
administering the Plan as it may deem necessary in order to comply with the
requirements of Section 423 of the Code. Decisions of the Plan Administrator
shall be final and binding on all parties having an interest in the Plan.

III.     STOCK SUBJECT TO PLAN

         A. The stock purchasable under the Plan shall be shares of authorized
but unissued or reacquired Common Stock, including shares of Common Stock
purchased on the open market. The maximum number of shares of Common Stock which
may be issued in the aggregate under the Plan shall not exceed Five Hundred
Thousand (500,000) shares.

         B. The number of shares of Common Stock available for issuance under
the Plan shall automatically increase on the first trading day of each calendar
year during the term of the Plan, beginning with the 2001 calendar year, by an
amount equal to one percent (1%) of the shares of Common Stock outstanding on
the last trading day of the immediately preceding calendar year, but in no event
shall such annual increase exceed Seven Hundred Fifty Thousand (750,000) shares.

         C. Should any change be made to the Common Stock by reason of any stock
split, stock dividend, recapitalization, combination of shares, exchange of
shares or other change affecting the outstanding Common Stock as a class without
the Corporation's receipt of consideration, appropriate adjustments shall be
made to the maximum number and class of securities issuable in the aggregate
under the Plan, (ii) the maximum number and class of securities purchasable per
Participant and in the aggregate on any one Purchase Date and (iii) the number
and class of securities and the price per share in effect under each outstanding
purchase right in order to prevent the dilution or enlargement of benefits
thereunder.

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IV.      OFFERING PERIODS

         A. Shares of Common Stock shall be offered for purchase under the Plan
through a series of successive offering periods until such time as (i) the
maximum number of shares of Common Stock available for issuance under the Plan
shall have been purchased or (ii) the Plan shall have been sooner terminated.

         B. Each offering period shall be of such duration (not to exceed
twenty-four (24) months) as determined by the Plan Administrator prior to the
start date of such offering period. However, the initial offering period shall
commence at the Effective Time and terminate on the last business day in April
2002. Subsequent offering periods shall commence as designated by the Plan
Administrator.

         C. Each offering period shall be comprised of a series of one or more
successive Purchase Intervals. Purchase Intervals shall run from the first
business day in May each year to the last business day in October of the same
year and from the first business day in November each year to the last business
day in April of the following year. However, the first Purchase Interval in
effect under the initial offering period shall commence at the Effective Time
and terminate on the last business day in October 2000.

         D. Should the Fair Market Value per share of Common Stock on any
Purchase Date within an offering period be less than the Fair Market Value per
share of Common Stock on the start date of that offering period, then that
offering period shall automatically terminate immediately after the purchase of
shares of Common Stock on such Purchase Date, and a new offering period shall
commence on the next business day following such Purchase Date. The new offering
period shall have a duration of twenty (24) months, unless a shorter duration is
established by the Plan Administrator within five (5) business days following
the start date of that offering period.

V.       ELIGIBILITY

         A. Each individual who is an Eligible Employee on the start date of an
offering period under the Plan may enter that offering period on such start date
or on any subsequent Semi-Annual Entry Date within that offering period,
provided he or she remains an Eligible Employee.

         B. Each individual who first becomes an Eligible Employee after the
start date of an offering period may enter that offering period on any
subsequent Semi-Annual Entry Date within that offering period on which he or she
is an Eligible Employee.

         C. The date an individual enters an offering period shall be designated
his or her Entry Date for purposes of that offering period.

         D. To participate in the Plan for a particular offering period, the
Eligible Employee must complete the enrollment forms prescribed by the Plan
Administrator (including a stock purchase agreement and a payroll deduction
authorization) and file such forms with the Plan Administrator (or its
designate) on or before his or her scheduled Entry Date.

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VI.      PAYROLL DEDUCTIONS

         A. The payroll deduction authorized by the Participant for purposes of
acquiring shares of Common Stock during an offering period may be any multiple
of one percent (1%) of the Cash Earnings paid to the Participant during each
Purchase Interval within that offering period, up to a maximum of ten percent
(10%). The deduction rate so authorized shall continue in effect throughout the
offering period, except to the extent such rate is changed in accordance with
the following guidelines:

            (i)  The Participant may, at any time during the offering period,
    reduce his or her rate of payroll deduction to become effective as soon as
    possible after filing the appropriate form with the Plan Administrator. The
    Participant may not, however, effect more than one (1) such reduction per
    Purchase Interval.

            (ii)  The Participant may, prior to the commencement of any new
    Purchase Interval within the offering period, increase the rate of his or
    her payroll deduction by filing the appropriate form with the Plan
    Administrator. The new rate (which may not exceed the ten percent (10%)
    maximum) shall become effective on the start date of the first Purchase
    Interval following the filing of such form.

         B. Payroll deductions shall begin on the first pay day following the
Participant's Entry Date into the offering period and shall (unless sooner
terminated by the Participant) continue through the pay day ending with or
immediately prior to the last day of that offering period. The amounts so
collected shall be credited to the Participant's book account under the Plan,
but no interest shall be paid on the balance from time to time outstanding in
such account. The amounts collected from the Participant shall not be required
to be held in any segregated account or trust fund and may be commingled with
the general assets of the Corporation and used for general corporate purposes.

         C. Payroll deductions shall automatically cease upon the termination of
the Participant's purchase right in accordance with the provisions of the Plan.

         D. The Participant's acquisition of Common Stock under the Plan on any
Purchase Date shall neither limit nor require the Participant's acquisition of
Common Stock on any subsequent Purchase Date, whether within the same or a
different offering period.

VII.     PURCHASE RIGHTS

         A. GRANT OF PURCHASE RIGHT. A Participant shall be granted a separate
purchase right for each offering period in which he or she participates. The
purchase right shall be granted on the Participant's Entry Date into the
offering period and shall provide the Participant with the right to purchase
shares of Common Stock, in a series of successive installments over the
remainder of such offering period, upon the terms set forth below. The
Participant shall execute a stock purchase agreement embodying such terms and
such other provisions (not inconsistent with the Plan) as the Plan Administrator
may deem advisable.

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         Under no circumstances shall purchase rights be granted under the Plan
to any Eligible Employee if such individual would, immediately after the grant,
own (within the meaning of Code Section 424(d)) or hold outstanding options or
other rights to purchase, stock possessing five percent (5%) or more of the
total combined voting power or value of all classes of stock of the Corporation
or any Corporate Affiliate.

         B. EXERCISE OF THE PURCHASE RIGHT. Each purchase right shall be
automatically exercised in installments on each successive Purchase Date within
the offering period, and shares of Common Stock shall accordingly be purchased
on behalf of each Participant (other than Participants whose payroll deductions
have previously been refunded pursuant to the Termination of Purchase Right
provisions below) on each such Purchase Date. The purchase shall be effected by
applying the Participant's payroll deductions for the Purchase Interval ending
on such Purchase Date to the purchase of whole shares of Common Stock at the
purchase price in effect for the Participant for that Purchase Date.

         C. PURCHASE PRICE. The purchase price per share at which Common Stock
will be purchased on the Participant's behalf on each Purchase Date within the
offering period shall be equal to eighty-five percent (85%) of the lower of (i)
the Fair Market Value per share of Common Stock on the Participant's Entry Date
into that offering period or (ii) the Fair Market Value per share of Common
Stock on that Purchase Date.

         D. NUMBER OF PURCHASABLE SHARES. The number of shares of Common Stock
purchasable by a Participant on each Purchase Date during the offering period
shall be the number of whole shares obtained by dividing the amount collected
from the Participant through payroll deductions during the Purchase Interval
ending with that Purchase Date by the purchase price in effect for the
Participant for that Purchase Date. However, the maximum number of shares of
Common Stock purchasable per Participant on any one Purchase Date shall not
exceed Seven Hundred and Fifty (750) shares, subject to periodic adjustments in
the event of certain changes in the Corporation's capitalization. In addition,
the maximum number of shares of Common Stock purchasable in the aggregate by all
Participants on any one Purchase Date under the Plan and the International Plan
shall not exceed One Hundred Twenty-Five Thousand (125,000) shares (or such
other number designated by the Plan Administrator), subject to periodic
adjustments in the event of certain changes in the corporation's capitalization.

         E. EXCESS PAYROLL DEDUCTIONS. Any payroll deductions not applied to the
purchase of shares of Common Stock on any Purchase Date because they are not
sufficient to purchase a whole share of Common Stock shall be held for the
purchase of Common Stock on the next Purchase Date. However, any payroll
deductions not applied to the purchase of Common Stock by reason of the
limitation on the maximum number of shares purchasable on the Purchase Date
shall be promptly refunded.

         F. TERMINATION OF PURCHASE RIGHT. The following provisions shall govern
the termination of outstanding purchase rights:

            (i)  A Participant may, at any time prior to the next scheduled
    Purchase Date in the offering period, terminate his or her outstanding
    purchase right by filing the appropriate form with the Plan Administrator
    (or its designate),

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    and no further payroll deductions shall be collected from the Participant
    with respect to the terminated purchase right. Any payroll deductions
    collected during the Purchase Interval in which such termination occurs
    shall, at the Participant's election, be immediately refunded or held for
    the purchase of shares on the next Purchase Date. If no such election is
    made at the time such purchase right is terminated, then the payroll
    deductions collected with respect to the terminated right shall be refunded
    as soon as possible.

            (ii)  The termination of such purchase right shall be irrevocable,
    and the Participant may not subsequently rejoin the offering period for
    which the terminated purchase right was granted. In order to resume
    participation in any subsequent offering period, such individual must
    re-enroll in the Plan (by making a timely filing of the prescribed
    enrollment forms) on or before his or her scheduled Entry Date into that
    offering period.

            (iii)  Should the Participant cease to remain an Eligible Employee
    for any reason (including death, disability or change in status) while his
    or her purchase right remains outstanding, then that purchase right shall
    immediately terminate, and all of the Participant's payroll deductions for
    the Purchase Interval in which the purchase right so terminates shall be
    immediately refunded. However, should the Participant cease to remain in
    active service by reason of an approved unpaid leave of absence, then the
    Participant shall have the right, exercisable up until the last business day
    of the Purchase Interval in which such leave commences, to (a) withdraw all
    the payroll deductions collected to date on his or her behalf for that
    Purchase Interval or (b) have such funds held for the purchase of shares on
    his or her behalf on the next scheduled Purchase Date. In no event, however,
    shall any further payroll deductions be collected on the Participant's
    behalf during such leave. Upon the Participant's return to active service
    (i) within ninety (90) days following the commencement of such leave or,
    (ii) prior to the expiration of any longer period for which such
    Participant's right to reemployment with the Corporation is guaranteed by
    either statute or contract, his or her payroll deductions under the Plan
    shall automatically resume at the rate in effect at the time the leave
    began. However, should the Participant's leave of absence exceed ninety (90)
    days and his or her re-employment rights not be guaranteed by either statute
    or contract, then the Participant's status as an Eligible Employee will be
    deemed to terminate on the ninety-first (91st) day of that leave, and such
    Participant's purchase right for the offering period in which that leave
    began shall thereupon terminate. An individual who returns to active
    employment following such a leave shall be treated as a new Employee for
    purposes of the Plan and must, in order to resume participation in the Plan,
    re-enroll in the Plan (by making a timely filing of the prescribed
    enrollment forms) on or before his or her scheduled Entry Date into the
    offering period.

         G. CHANGE OF CONTROL. Each outstanding purchase right shall
automatically be exercised, immediately prior to the effective date of any
Change of Control, by applying the payroll deductions of each Participant for
the Purchase Interval in which such Change of Control occurs to the purchase of
whole shares of Common Stock at a purchase price per share equal to

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eighty-five percent (85%) of the lower of (i) the Fair Market Value per share of
Common Stock on the Participant's Entry Date into the offering period in which
such Change of Control occurs or (ii) the Fair Market Value per share of Common
Stock immediately prior to the effective date of such Change of Control.
However, the applicable limitation on the number of shares of Common Stock
purchasable by all Participants in the aggregate shall not apply to any such
purchase.

         The Corporation shall use its best efforts to provide at least ten
(10)-days prior written notice of the occurrence of any Change of Control, and
Participants shall, following the receipt of such notice, have the right to
terminate their outstanding purchase rights prior to the effective date of the
Change of Control.

         H. PRORATION OF PURCHASE RIGHTS. Should the total number of shares of
Common Stock to be purchased pursuant to outstanding purchase rights on any
particular date exceed the number of shares then available for issuance under
the Plan, the Plan Administrator shall make a pro-rata allocation of the
available shares on a uniform and nondiscriminatory basis, and the payroll
deductions of each Participant, to the extent in excess of the aggregate
purchase price payable for the Common Stock pro-rated to such individual, shall
be refunded.

         I. ASSIGNABILITY. The purchase right shall be exercisable only by the
Participant and shall not be assignable or transferable by the Participant.

         J. STOCKHOLDER RIGHTS. A Participant shall have no stockholder rights
with respect to the shares subject to his or her outstanding purchase right
until the shares are purchased on the Participant's behalf in accordance with
the provisions of the Plan and the Participant has become a holder of record of
the purchased shares.

VIII.    ACCRUAL LIMITATIONS

         A. No Participant shall be entitled to accrue rights to acquire Common
Stock pursuant to any purchase right outstanding under this Plan if and to the
extent such accrual, when aggregated with (i) rights to purchase Common Stock
accrued under any other purchase right granted under this Plan and (ii) similar
rights accrued under other employee stock purchase plans (within the meaning of
Code Section 423) of the Corporation or any Corporate Affiliate, would otherwise
permit such Participant to purchase more than Twenty-Five Thousand Dollars
($25,000) worth of stock of the Corporation or any Corporate Affiliate
(determined on the basis of the Fair Market Value per share on the date or dates
such rights are granted) for each calendar year such rights are at any time
outstanding.

         B. For purposes of applying such accrual limitations to the purchase
rights granted under the Plan, the following provisions shall be in effect:

            (i)  The right to acquire Common Stock under each outstanding
    purchase right shall accrue in a series of installments on each successive
    Purchase Date during the offering period on which such right remains
    outstanding.

            (ii)  No right to acquire Common Stock under any outstanding
    purchase right shall accrue to the extent the Participant has already
    accrued in the

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    same calendar year the right to acquire Common Stock under one (1) or more
    other purchase rights at a rate equal to Twenty-Five Thousand Dollars
    ($25,000) worth of Common Stock (determined on the basis of the Fair Market
    Value per share on the date or dates of grant) for each calendar year such
    rights were at any time outstanding.

         C. If by reason of such accrual limitations, any purchase right of a
Participant does not accrue for a particular Purchase Interval, then the payroll
deductions which the Participant made during that Purchase Interval with respect
to such purchase right shall be promptly refunded.

         D. In the event there is any conflict between the provisions of this
Article and one or more provisions of the Plan or any instrument issued
thereunder, the provisions of this Article shall be controlling.

IX.      EFFECTIVE DATE AND TERM OF THE PLAN

         A. The Plan was adopted by the Board on ___________, 2000 and shall
become effective at the Effective Time, provided no purchase rights granted
under the Plan shall be exercised, and no shares of Common Stock shall be issued
hereunder, until (i) the Plan shall have been approved by the stockholders of
the Corporation and (ii) the Corporation shall have complied with all applicable
requirements of the 1933 Act (including the registration of the shares of Common
Stock issuable under the Plan on a Form S-8 registration statement filed with
the Securities and Exchange Commission), all applicable listing requirements of
any stock exchange (or the Nasdaq National Market, if applicable) on which the
Common Stock is listed for trading and all other applicable requirements
established by law or regulation. In the event such stockholder approval is not
obtained, or such compliance is not effected, within twelve (12) months after
the date on which the Plan is adopted by the Board, the Plan shall terminate and
have no further force or effect, and all sums collected from Participants during
the initial offering period hereunder shall be refunded.

         B. Unless sooner terminated by the Board, the Plan shall terminate upon
the earliest of (i) the last business day in April 2010, (ii) the date on which
all shares available for issuance under the Plan shall have been sold pursuant
to purchase rights exercised under the Plan or (iii) the date on which all
purchase rights are exercised in connection with a Corporate Transaction. No
further purchase rights shall be granted or exercised, and no further payroll
deductions shall be collected, under the Plan following such termination.

X.       AMENDMENT/TERMINATION OF THE PLAN

         A. The Board may alter, amend, suspend or terminate the Plan at any
time to become effective immediately following the close of any Purchase
Interval. However, the Plan may be amended or terminated immediately upon Board
action, if and to the extent necessary to assure that the Corporation will not
recognize, for financial reporting purposes, any compensation expense in
connection with the shares of Common Stock offered for purchase under the Plan,
should the financial accounting rules applicable to the Plan at the Effective
Time

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be subsequently revised so as to require the recognition of compensation expense
in the absence of such amendment or termination.

         B. In no event may the Board effect any of the following amendments or
revisions to the Plan without the approval of the Corporation's stockholders:
(i) increase the number of shares of Common Stock issuable under the Plan,
except for permissible adjustments in the event of certain changes in the
Corporation's capitalization, (ii) alter the purchase price formula so as to
reduce the purchase price payable for the shares of Common Stock purchasable
under the Plan or (iii) modify eligibility requirements for participation in the
Plan.

XI.      GENERAL PROVISIONS

         A. Nothing in the Plan shall confer upon the Participant any right to
continue in the employ of the Corporation or any Corporate Affiliate for any
period of specific duration or interfere with or otherwise restrict in any way
the rights of the Corporation (or any Corporate Affiliate employing such person)
or of the Participant, which rights are hereby expressly reserved by each, to
terminate such person's employment at any time for any reason, with or without
cause.

         B. All costs and expenses incurred in the administration of the Plan
shall be paid by the Corporation; however, each Plan Participant shall bear all
costs and expenses incurred by such individual in the sale or other disposition
of any shares purchased under the Plan.

         C. The provisions of the Plan shall be governed by the laws of the
State of Colorado without regard to that State's conflict-of-laws rules.

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                                   SCHEDULE A

                          CORPORATIONS PARTICIPATING IN
                          EMPLOYEE STOCK PURCHASE PLAN
                            AS OF THE EFFECTIVE TIME

                              Caldera Systems, Inc.

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                                    APPENDIX

         The following definitions shall be in effect under the Plan:

         A. BOARD shall mean the Corporation's Board of Directors.

         B. CASH EARNINGS shall mean the (i) base salary payable to a
Participant by one or more Participating Corporations during such individual's
period of participation in one or more offering periods under the Plan plus (ii)
all overtime payments, bonuses, commissions, current profit-sharing
distributions and other incentive-type payments. Such Cash Earnings shall be
calculated before deduction of (A) any income or employment tax withholdings or
(B) any pre-tax contributions made by the Participant to any Code Section 401(k)
salary deferral plan or any Code Section 125 cafeteria benefit program now or
hereafter established by the Corporation or any Corporate Affiliate. However,
Cash Earnings shall NOT include any contributions (other than Code Section
401(k) or Code Section 125 contributions) made on the Participant's behalf by
the Corporation or any Corporate Affiliate to any employee benefit or welfare
plan now or hereafter established.

         C. CHANGE OF CONTROL shall mean a change of ownership of the
Corporation pursuant to any of the following transactions:

            (i)  a merger or consolidation in which securities possessing more
    than fifty percent (50%) of the total combined voting power of the
    Corporation's outstanding securities are transferred to a person or persons
    different from the persons holding those securities immediately prior to
    such transaction, or

            (ii)  the sale, transfer or other disposition of all or
    substantially all of the assets of the Corporation in complete liquidation
    or dissolution of the Corporation, or

            (iii)  the acquisition, directly or indirectly, by a person or
    related group of persons (other than the Corporation or a person that
    directly or indirectly controls, is controlled by or is under common control
    with the Corporation) of beneficial ownership (within the meaning of Rule
    13d-3 of the 1934 Act) of securities possessing more than fifty percent
    (50%) of the total combined voting power of the Corporation's outstanding
    securities pursuant to a tender or exchange offer made directly to the
    Corporation's stockholders.

         D. CODE shall mean the Internal Revenue Code of 1986, as amended.

         E. COMMON STOCK shall mean the Corporation's common stock.

         F. CORPORATE AFFILIATE shall mean any parent or subsidiary corporation
of the Corporation (as determined in accordance with Code Section 424), whether
now existing or subsequently established.

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         G. CORPORATION shall mean Caldera Systems, Inc., a Delaware
corporation, and any corporate successor to all or substantially all of the
assets or voting stock of Caldera Systems, Inc. which shall by appropriate
action adopt the Plan.

         H. EFFECTIVE TIME shall mean the time at which the Underwriting
Agreement is executed. Any Corporate Affiliate which becomes a Participating
Corporation after such Effective Time shall designate a subsequent Effective
Time with respect to its employee-Participants.

         I. ELIGIBLE EMPLOYEE shall mean any person who is employed by a
Participating Corporation on a basis under which he or she is regularly expected
to render more than twenty (20) hours of service per week for more than five (5)
months per calendar year for earnings considered wages under Code Section
3401(a).

         J. ENTRY DATE shall mean the date an Eligible Employee first commences
participation in the offering period in effect under the Plan. The earliest
Entry Date under the Plan shall be the Effective Time.

         K. FAIR MARKET VALUE per share of Common Stock on any relevant date
shall be determined in accordance with the following provisions:

            (i)  If the Common Stock is at the time traded on the Nasdaq
    National Market, then the Fair Market Value shall be the closing selling
    price per share of Common Stock on the date in question, as such price is
    reported by the National Association of Securities Dealers on the Nasdaq
    National Market or any successor system. If there is no closing selling
    price for the Common Stock on the date in question, then the Fair Market
    Value shall be the closing selling price on the last preceding date for
    which such quotation exists.

            (ii)  If the Common Stock is at the time listed on any Stock
    Exchange, then the Fair Market Value shall be the closing selling price per
    share of Common Stock on the date in question on the Stock Exchange
    determined by the Plan Administrator to be the primary market for the Common
    Stock, as such price is officially quoted in the composite tape of
    transactions on such exchange. If there is no closing selling price for the
    Common Stock on the date in question, then the Fair Market Value shall be
    the closing selling price on the last preceding date for which such
    quotation exists.

            (iii)  For purposes of the initial offering period which begins at
    the Effective Time, the Fair Market Value shall be deemed to be equal to the
    price per share at which the Common Stock is sold in the initial public
    offering pursuant to the Underwriting Agreement.

         L. 1933 ACT shall mean the Securities Act of 1933, as amended.

         M. PARTICIPANT shall mean any Eligible Employee of a Participating
Corporation who is actively participating in the Plan.

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         N. PARTICIPATING CORPORATION shall mean the Corporation and such
Corporate Affiliate or Affiliates as may be authorized from time to time by the
Board to extend the benefits of the Plan to their Eligible Employees. The
Participating Corporations in the Plan are listed in attached Schedule A.

         O. PLAN shall mean the Corporation's Employee Stock Purchase Plan, as
set forth in this document.

         P. PLAN ADMINISTRATOR shall mean the committee of two (2) or more Board
members appointed by the Board to administer the Plan. ------------------

         Q. PURCHASE DATE shall mean the last business day of each Purchase
Interval. The initial Purchase Date shall be October 31, 2000.

         R. PURCHASE INTERVAL shall mean each successive six (6)-month period
within the offering period at the end of which there shall be purchased shares
of Common Stock on behalf of each Participant.

         S. SEMI-ANNUAL ENTRY DATE shall mean the first business day in May and
November each year on which an Eligible Employee may first enter an offering
period.

         T. STOCK EXCHANGE shall mean either the American Stock Exchange or the
New York Stock Exchange.

         U. UNDERWRITING AGREEMENT shall mean the agreement between the
Corporation and the underwriter or underwriters managing the Corporation's
initial public offering of its Common Stock.

                                      A-3<PAGE>   1
                                                                   EXHIBIT 10.22

                             SECURED PROMISSORY NOTE

Principal Amount: $300,000                       Date of Note: December 29, 1999

FOR VALUE RECEIVED, CALDERA SYSTEMS, INC., a Utah corporation (the "COMPANY"),
hereby promises to pay to the order of The Canopy Group, Inc. ("LENDER"), at 240
West Center Street, Orem, Utah 84057, or at such other address as Lender may
specify in writing, the principal sum of $300,000, or such other greater or
lesser amount as may be outstanding, together with interest at the rate of nine
and one-half percent (9.5%) per annum on the unpaid outstanding principal, said
principal and interest payable as follows;

          Payable upon demand or if no demand is made, then any remaining
          accrued interest and principal shall be due on January 14, 2000.

1.   Interest shall be calculated from the date of note until repayment of note.
     Each payment shall be applied first to accrued interest and the balance to
     the reduction of principal. Interest shall be calculated based upon a 360
     day year. Any installment not paid when due shall bear interest thereafter
     at the rate of twelve percent (12%) per annum until paid. This note may be
     prepaid in whole or in part at any time.

2.   As security for the due performance and payment of Company's obligations
     under this Note, Company has entered into a Security Agreement of even date
     herewith with lender ("Security Agreement") whereby Company has granted to
     Lender a security interest in any and all of the assets, properties, goods,
     inventory, equipment, furniture, fixtures, leases, supplies, records,
     money, documents, instruments, chattel paper, accounts, intellectual
     property rights (including but not limited to, copyrights, moral rights,
     patents, patent applications, trademarks, service marks, trade names, trade
     secrets) and other general intangibles, whether owned by Company on the
     date of this Note or hereafter acquired, and all proceeds thereof.

3.   Acceptance by Lender of any partial payment shall not be deemed to
     constitute a waiver by Lender to require prompt payment of this Note upon
     demand. Any partial payment will be applied (a) first, to the payment of
     accrued interest, and (b) second, (to the extent that the amount of such
     prepayment exceeds the amount of all such accrued interest), to the payment
     of principal.

4.   In the event of any action to enforce payment of this Note, in addition to
     all other relief, the prevailing party in such action shall be entitled to
     reasonable attorney's fees and expenses.

5.   The Company hereby waives presentment, protest and demand, notice of
     protest, demand, nonpayment or dishonor.

6.   Company will be deemed to be in default under this Note and the outstanding
     unpaid principal balance of this Note, together with all interest accrued
     thereon, will immediately become due and payable in full, without the need
     for any further action on the part of Lender, upon the occurrence of any of
     the following events (each an "EVENT OF DEFAULT"): (a) upon the filing by
     or against Company of any voluntary or involuntary petition in bankruptcy
     or any petition for relief under the federal bankruptcy code or any other
     state or federal law for the relief of debtors: provided, however, with
     respect to an involuntary petition in bankruptcy, such petition has not
     been dismissed within thirty (30) days after the filing of such petition;
     (b) upon the execution by Company of an assignment for the benefit of
     creditors or the appointment of a receiver, custodian, trustee or similar
     party to take possession of Company's assets or property; or (c) upon any
     material breach, default or violation by Company of any term, condition,
     obligation, representation or covenant of any agreement between Company and
     Lender including the Security Agreement. Upon any Event of Default, Lender
     will have, in addition to its rights and remedies under this Note, full
     recourse against any real, personal,

<PAGE>   2

     tangible or intangible assets of Company, and may pursue any legal or
     equitable remedies that are available to Lender, and may declare the entire
     unpaid principal amount of this Note and all unpaid accrued interest under
     this Note to be immediately due and payable in full.

7.   This Note is to be governed by and construed in accordance with the laws of
     the State of Utah.

8.   As of the date of this Note, the Company hereby represents and warrants to
     Lender that the Company is a corporation duly organized, validly existing
     and in good standing under the laws of the State of Utah and has all
     requisite corporate power and authority to (i) enter into this Note and the
     Security Agreement, and (ii) carry on its business.

       Executed as of the date first set forth above:

                                             /s/ RANSOM LOVE
                                             ----------------------------

                                             By: Ransom Love
                                             Caldera Systems, Inc., President

                                       2

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