Document:

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                                                                    Exhibit 10.1

                                                                  EXECUTION COPY

                            HURRAY! HOLDING CO., LTD

                              AMENDED AND RESTATED
                          REGISTRATION RIGHTS AGREEMENT

                               As of June 16, 2003

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                                                                  EXECUTION COPY

                                TABLE OF CONTENTS

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1.   Registration Rights.......................................................3

     1.1  Definitions..........................................................4

     1.2  Demand Registration..................................................5

     1.3  Company Registration.................................................6

     1.4  Form F-3 Registration................................................6

     1.5  Obligations of the Company...........................................7

     1.6  Furnish Information..................................................9

     1.7  Expenses of Registration.............................................9

     1.8  Underwriting Requirements............................................9

     1.9  Indemnification.....................................................10

     1.10 Reports Under the Exchange Act......................................12

     1.11 Assignment of Registration Rights...................................13

     1.12 Limitations on Subsequent Registration Rights.......................13

     1.13 Lock-up Agreement...................................................13

     1.14 Non-Effective Registrations.........................................14

     1.15 Notice to Discontinue...............................................14

2.   Miscellaneous............................................................14

     2.1  Termination of Registration Rights1.................................14

     2.2  Other Jurisdictions.................................................14

     2.3  Successors and Assigns..............................................14

     2.4  Amendments and Waivers..............................................15

     2.5  Notices.............................................................15

     2.6  Reformation.........................................................16

     2.7  Governing Law.......................................................16

     2.8  Dispute Resolution..................................................16

     2.9  Titles and Subtitles................................................17

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                            HURRAY! HOLDING CO., LTD.

               AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT
               --------------------------------------------------

          This Amended and Restated Registration Rights Agreement (the
"Agreement") is made as of this 16th day, June 2003, by and among Hurray!
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Holding Co, Ltd., an exempted company limited by shares incorporated under the
Companies Law of the Cayman Islands (the "Company"), Fidelity Greater China
                                          -------
Ventures Fund L.P., a limited partnership organized and existing under the laws
of Bermuda, Venture TDF Technology Fund III L.P., a limited partnership
Organized and existing under the laws of the Cayman Islands, Granite Global
Ventures (Q.P.) L.P., a limited partnership Organized and existing under the
laws of the State of Delaware, the United States of America and Granite Global
Ventures L.P., a limited partnership Organized and existing under the laws of
the State of Delaware, the United States of America (collectively, the
"Investors").

                                    RECITALS
                                    --------

          WHEREAS, in order to induce the Investors to invest funds in the
Company pursuant to a Series A Convertible Preference Shares and Warrants
Purchase Agreement dated March 14, 2003 and a Series A Convertible Preference
Shares and Warrants Purchase Agreement dated June 2, 2003 (together, the
"Purchase Agreements"), and to induce the Company to enter into the Purchase
 -------------------
Agreements, the Company and the Investors hereby agree to the terms and
conditions set forth below;

          WHEREAS, it is a condition to the Obligations of the Investors under
the Purchase Agreements that the parties hereto enter into this Agreement, and
the parties are willing to execute, and to be bound by the provisions of, this
Agreement;

          WHEREAS, the parties intend that the Registration Rights Agreement
dated March 21, 2003 by and between the Company and Fidelity Greater China
Ventures Fund L.P. be amended, restated, superseded and replaced in its entirety
by this Agreement;

          WHEREAS, the parties acknowledge and agree that the Company may
register its securities in one of several jurisdictions including, without
limitation, the United States, Hong Kong, Singapore and certain of such
jurisdictions may have restrictions and regulations regarding registration of
securities; and

          WHEREAS, it is the parties' intent that any registration of the
securities of the Company in the United States, Hong Kong, Singapore Dr such
other jurisdiction that may have restrictions and regulations regarding
registration of securities be governed by the terms of this Agreement.

                                    AGREEMENT
                                    ---------

          The parties hereby agree as follows:

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          1. Registration Rights The Company and the Investors covenant and
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agree as follows:

          1.1 Definitions For purposes of this Agreement, capitalized terms used
              -----------
herein but not otherwise defined shall have the meanings assigned to them in the
Purchase Agreements.

               "Commencement Date" means the earlier of the closing date of a
                -----------------
Qualified IPO (as defined below) and the third (3rd) anniversary of the date of
the Closing.

               "Exchange Act" means the Securities Exchange Act of 1934, as
                ------------
amended, or any successor U.S. federal statute and the rules and regulations of
the U.S. Securities and Exchange Commission (the "SEC") promulgated thereunder,
                                                  ---
all as the same may be in effect from time to time.

               "Form F-1" or "Form F-3" means such form under the Securities Act
                --------      --------
(defined below) as in effect on the date hereof or any successor form thereof;

               "Holder" means any Investor owning or having the right to acquire
                ------
Registrable Securities upon conversion or exercise of any convertible security
(including Series A Shares), warrant, right or other security now or hereafter
owned or any permitted assignee thereof in accordance with Section 1.11 of this
Agreement;

               "Qualified IPO" means the closing of a firm commitment
                -------------
underwritten public offering of the Ordinary Shares that is effected pursuant to
(i) a registration statement filed with, and declared effective by, the SEC,
under the Securities Act (other than either a public offering pursuant to an
employee benefit plan or an offering pursuant to Rule 145 under the Securities
Act), or (ii) securities laws and rules of exchanges in a jurisdiction other
than the United States, as a result of which Ordinary Shares of the Company
shall become tradable on one or more internationally recognized stock exchanges
(Including stock exchanges in the United States, Hong Kong, and Singapore) with
aggregate gross proceeds to the Company (before payment of underwriters'
discounts, commissions and offering expenses) of at least US$20,OOO,OOO, and at
a minimum offering price per share of three hundred percent (300%) of the
Original Purchase Price (subject to share splits, reverse share splits,
reorganizations, reclassifications and similar events). For the purposes of this
Agreement, a Qualified IPO shall not include an offering solely under Rule 144A
of the Securities Act or any similar rule or regulation promulgated under the
Securities Act or any comparable rule or regulations under any jurisdiction
other than the United States.

               The terms "register," "registered." and "registration" mean
                          ----------------------        ------------
having a registration statement filed under the Securities Act, with, and
declared and ordered effective by, the SEC or a comparable process in a
jurisdiction other than the United States pursuant to which shares of the
Company shall become publicly tradable (including, without limitation, the
approval of an application for the listing of, and the permission to deal in,
the Company's shares on the stock exchanges in Hong Kong or Singapore;

               "Registrable Securities" means (i) any Ordinary Shares acquired
                ----------------------
(or issuable upon conversion or exercise of any convertible security (inc1uding
Series A Shares), warrant, right or other security now or hereafter owned) by
the Holders after the

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date hereof that are (or when issued will be) "restricted securities" within the
meaning of the Securities Act, and (n) any other Ordinary Shares of the Company
issued as (or issuable upon the conversion or exercise of any warrant, right or
other security (including Series A Shares) which is issued as) a dividend or
other distribution with respect to, or in exchange for or in replacement of; the
Ordinary Shares listed in (i) Notwithstanding the foregoing, "Registrable
Securities" shall not include any Registrable Securities sold by a person in a
transaction in which rights under this Agreement are not assigned in accordance
with this Agreement or any Registrable Securities sold in an offering to the
public, whether sold pursuant to Rule 144 promulgated under the Securities Act,
or in a registered offering, or otherwise.

               "Registrable Securities then outstanding" means the number of
                ---------------------------------------
Ordinary Shares outstanding which are, and the number of Ordinary Shares
issuable pursuant to then exercisable or convertible securities (including
Series A Shares) which are, Registrable Securities;

               "Registration Period" means each such twelve (12)-month period,
                -------------------
with the first Registration Period commencing on the Commencement Date and each
other Registration Period following consecutively after the first Registration
Period.

               "Securities Act" means the Securities Act of 1933, as amended, or
                --------------
any successor US. federal statute and the rules and regulations of the SEC
promulgated hereunder, all as the same may be in effect from time to time.

          1.2 Demand Registration.
              -------------------

               (a) After the Commencement Date, if the Company shall receive, at
any time other than within six (6) months following the effective date of a
registration of the Registrable Securities, a written request from holders of
fifty (50%) of the Series A Shares for the registration of Registrable
Securities then outstanding, the Company shall, within ten (10) days of the
receipt thereof, give written notice of such request to all Holders and shall,
subject to the limitations of subsection 1.2(b), use its best efforts to cause,
within ninety (90) days of the receipt of such request, the registration under
the Securities Act of all Registrable Securities which the Holders request to be
registered within fifteen (15) days of the mailing of such notice by the Company
in accordance with Section 25; provided, however, that the Company shall not be
obligated to effect a registration hereunder if it has already effected two (2)
registrations pursuant to this Section l.2(a).

               (b) If the Holders initiating the registration request in
subsection l.2(a) ("Initiating Holders") intend to distribute the Registrable
                    ------------------
Securities covered by their request by means of an underwriting, they shall so
advise the Company as a part of their request made pursuant to this Section 102
and the Company shall include such information in the written notice referred to
in subsection 12(a) The underwriter will be selected by a majority in interest
of the Initiating Holders, subject to the reasonable consent of the Company. In
such event, the right of any Holder to include his, her or its Registrable
Securities in such registration shall be conditioned upon such Holder's
participation in such underwriting and the inclusion of such Holder's
Registrable Securities in the underwriting (unless otherwise mutually agreed by
a majority in interest of the Initiating Holders and such Holder) to the extent
provided herein. All Holders proposing to distribute their securities through
such underwriting shall (together with the Company as provided in subsection
1.5(e)) enter into an underwriting agreement in

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customary form with the underwriter or underwriters selected for such
underwriting, Notwithstanding any other provision of this Section 1.2, if the
underwriter advises the Initiating Holders in writing that marketing factors
require a limitation of the number of shares to be underwritten, then the
Initiating Holders shall so advise all Holders of Registrable Securities which
would otherwise be underwritten pursuant hereto, and the number of shares of
Registrable Securities that may be included in the underwriting shall be
allocated among all Holders thereof requesting registration, including the
initiating Holders, in proportion (as nearly as practicable) to the amount of
Registrable Securities of the Company as to which each Holder has requested
registration.

          1.3 Company Registration. If the Company proposes to register under
              --------------------
the Securities Act (including for this purpose a registration effected by the
Company for shareholders other than the Holders) any of its shares of the same
class as the Registrable Securities proposed to be included in such registration
as provided in this Section 1.3, in connection with the public offering of such
securities solely for cash (other than a registration relating solely to (a) the
Qualified IPO, (b) the sale of securities to participants in an equity
compensation plan such as an incentive share plan, or (c) a transaction covered
by Rule 145 under the Securities Act), the Company shall, at such time,
promptly, but in no event less than thirty (30) days prior to the filing of such
registration statement give each Holder written notice of such registration.
Upon the written request of each Holder given within ten (10) business days
after receipt of such notice mailed by the Company in accordance with Section
2.5, the Company shall, subject to the provisions of Section 1.8, cause to be
registered under the Securities Act all of the Registrable Securities that each
such Holder has requested to be registered.

          1.4 Form F-3 Registration. In case the Company shall receive from any
              ---------------------
Holder or Holders of twenty percent (20%) of the Registrable Securities then
outstanding a written request or requests that the Company effect a registration
on Form F-3 and any related qualification or compliance with respect to all or a
part of the Registrable Securities owned by such Holder or Holders having a
reasonably anticipated minimum aggregate proceeds of US$1,000,000, the Company
shall:

               (a) within four (4) business days after receiving such written
request, give written notice of the proposed registration, and any related
qualification or compliance, to all other Holders;

               (b) as soon as practicable, effect such registration and all such
qualifications and compliances as may be so requested and as would permit or
facilitate the sale and distribution of all or such portion of such Holder's or
Holders' Registrable Securities as are specified in such request, together with
all or such portion of the Registrable Securities of any other Holder or Holders
joining in such request as are specified in a written request given within ten
(l0) business days after receipt of such written notice from the Company;
provided, however, that the Company shall not be obligated to effect any such
registration, qualification or compliance, pursuant to this Section 1.4 if (i)
Form F-3 is not available for such offering by the Holders; or (ii) the Company
has already effected two (2) Form F-3 registrations in the same Registration
Period as the proposed F-3 registration being requested by the Holder or Holders
hereunder, and

               (c) Subject to the foregoing, the Company shall use its best
efforts to

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cause, within forty-five (45) days after receipt of the request or requests of
the Holders, a registration statement, covering the Registrable Securities and
other securities so requested to be registered, filed and declared effective.
Registrations effected pursuant to this Section l.4 shall not be counted as
demands for registration or registrations effected pursuant to Sections 1.2 or
13, respectively.

          1.5 Obligations of the Company. Whenever required under this Section I
              --------------------------
to effect the registration of any Registrable Securities, the Company shall, as
expeditiously as reasonably possible:

               (a) Prepare and file with the SEC a registration statement (which
in the case of an underwritten registration effected pursuant to Section] 2,
shall be on Form F-1, F-2, F-3 or other form of general applicability
satisfactory to the Holders and, if applicable, the managing underwriter
selected as provided therein) with respect to such Registrable Securities and
use its commercially best efforts to cause such registration statement to become
effective, and, upon the request of the Holders of a majority of the Registrable
Securities registered thereunder, to keep such registration statement effective
for a period of one hundred eighty (180) days or, if a shorter period, until all
of the Registrable Securities covered thereby have been sold.

               (b) Prepare and file with the SEC such amendments and supplements
to such registration statement and the prospectus used in connection with such
registration statement as may be necessary to comply with the provisions of the
Securities Act with respect to the disposition of all securities covered by such
registration statement for a period of one hundred eighty (180) days after the
effective date thereof or, if a shorter period, until al1 of the Registrable
Securities covered thereby have been sold.

               (c) Furnish to the Holders such numbers of copies of a
prospectus, including a preliminary prospectus and any supplement thereto (in
each case including all exhibits), and such other documents as they may request
in order to facilitate the disposition of Registrable Securities owned by them
and that have been or will be registered.

               (d) (A) Register and qualify the securities covered by such
registration statement under such other securities or Blue Sky laws of such
jurisdictions as shall be requested by the Holders, (B) keep such registration
or qualification in effect for so long as such registration statement is
required to remain in effect and (C) take any other action which may be
necessary or advisable to enable the Holders to consummate the disposition in
such jurisdictions of such Registrable Securities.

               (e) In the event of any underwritten public offering, enter into
and perform its obligations under an underwriting agreement, in usual and
customary form, with the managing underwriter of such offering. Each Holder
participating in such underwriting shall also enter into and perform its
obligations under such an agreement.

               (f) Promptly notify each Holder of Registrable Securities covered
by such registration statement of the happening of any event as a result of
which the prospectus included in such registration statement, as then in effect,
includes an untrue statement of a material fact or omits to state a material
fact required to be stated therein or necessary to make the statements therein
not misleading in light of the circumstances then existing, such obligation to
continue for a period of one hundred eighty (180) days after the

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effective date of such registration statement or, if a shorter period, until all
of the Registrable Securities covered thereby have been sold.

               (g) Upon the occurrence of any event described in Section I 5(t)
above, prepare a supplement or post-effective amendment to the applicable
registration statement or related prospectus or any document incorporated
therein by reference or file any other required document so that, as thereafter
delivered to the Holders of the securities being sold thereunder, such
prospectus will not contain any untrue statement of a material fact or omit to
state any material fact necessary to make the statements therein not misleading.

               (h) Cause all Registrable Securities registered hereunder to be
listed on each securities exchange on which securities of the same class as the
Registrable Securities proposed to be registered hereunder and issued by the
Company are then listed or proposed to be listed.

               (i) Provide a transfer agent and registrar for all Registrable
Securities registered hereunder and a CUSIP number for all such Registrable
Securities, in each case not later than the effective date of such registration.

               (j) Furnish, at the request of any Holder requesting registration
of Registrable Securities pursuant to this Section I, on the date that such
Registrable Securities are delivered to the underwriters for sale in connection
with a registration pursuant to this Section I, if such securities are being
sold through underwriters, or, if such securities are not being sold through
underwriters, on the date that the registration statement with respect to such
securities becomes effective, (i) an opinion, dated such date, of the counsel
representing the Company for the purposes of such registration, in form and
substance as is customarily given to underwriters in an underwritten public
offering, addressed to the underwriters, if any, and to the Holders requesting
registration of Registrable Securities and OJ) a comfort letter dated such date,
from the independent certified public accountants of the Company, in form and
substance as is customarily given by independent certified public accountants to
underwriters in an underwritten public offering, addressed to the underwriters,
if any, and to the Holders requesting registration of Registrable Securities.

               (k) Promptly notify the Holders, and confirm such advice in
writing (A) when a prospectus or any prospectus supplement or post-effective
amendment has been filed, and, with respect to a registration statement or any
post-effective amendment, when the same has become effective, (B) of any request
by the SEC for amendments or supplements to a registration statement or related
prospectus or for additional information, (C) of the issuance by the SEC of any
stop order suspending the effectiveness of a registration statement Dr the
initiation of any proceedings for that purpose, (D) Of the receipt by the
Company Of any notification with respect to the suspension Of the qualification
Of any of the registered securities for sale in any jurisdiction or the
initiation or threatening of any proceeding for such purpose and (E) of the
Company's reasonable determination that a post-effective amendment to a
registration statement would be appropriate.

               (l) Otherwise comply in all material respects with all applicable
rules and regulations of the SEC in connection with a registration pursuant
hereto.

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               (m) Use its commercially best efforts to cause the Registrable
Securities covered by the applicable registration statement to be registered
with or approved by such other governmental agencies or authorities as may be
necessary to enable the Holders or the underwriters, if any, to consummate the
disposition of such Registrable Securities.

          1.6 Furnish Information. It shall be a condition precedent to the
              -------------------
obligations of the Company to take any action pursuant to this Section 1 with
respect to the Registrable Securities of any selling Holder that such Holder
shall furnish to the Company such information regarding itself, the Registrable
Securities held by it, and the intended method of disposition of such securities
as shall be required to effect the registration of such Holder's Registrable
Securities. The Company shall have no obligation with respect to any
registration requested pursuant to Section 1.2 or Section 14 of this Agreement
if, as a result of the application of the preceding sentence, the number of
shares Dr the anticipated aggregate offering price of the Registrable Securities
to be included in the registration does not equal or exceed the number of shares
or the anticipated aggregate offering price required to originally trigger the
Company's obligation to initiate such registration as specified in subsection J
..2(a).

          1.7 Expenses of Registration.
              ------------------------

               (a) Demand Registration. AU expenses (other than underwriting
                   -------------------
discounts and commissions) incurred in connection with registrations, filings or
qualifications pursuant to Section J 2, including, without limitation, a1l
registration, filing and qualification fees, printers' and accounting fees, fees
and disbursements of counsel for the Company, and the disbursements and
reasonable fees of one counsel for the selling Holders, sha1l be borne by the
Company; provided, however, that the Company shall not be required to pay for
any expenses of any registration proceeding begun pursuant to Section J.2 if the
registration request is subsequently withdrawn at the request of the Initiating
Holders (in which case a1l participating Holders sha1l bear such expenses and
reimburse such expenses to the Company immediately upon demand), unless the
Holders of a majority of the Registrable Securities agree to forfeit their right
to one demand registration pursuant to Section 1.2.

               (b) Company Registration. All expenses (other than underwriting
                   --------------------
discounts and commissions) incurred in connection with registrations, filings Dr
qualifications of Registrable Securities pursuant to Section 13 for each Holder,
including, without limitation, all registration, filing, and qualification fees,
printers' and accounting fees, fees and disbursements of counsel for the Company
and the disbursements and reasonable fees of one counsel for the selling Holder
or Holders selected by them, shall be borne by the Company.

               (c) Registration on Form F-3. All expenses (other than
                   ------------------------
underwriting discounts and commissions) incurred in connection with a
registration requested pursuant to Section I A, including, without limitation,
all registration, filing, qualification, printers' and accounting fees and the
disbursements and reasonable fees of one counsel for the selling Holder or
Holders selected by them, and counsel for the Company, shall be borne by the
Company.

          1.8 Underwriting Requirements. The Company shall not be required under
              -------------------------
Section 1.3 to include any of the Holders' securities in an underwriting of its
shares unless

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they accept the terms of the underwriting as agreed upon between the Company and
the underwriters selected by it (or by other shareholders of the Company
entitled to initiate such registration by the Company), and then only in such
quantity as the underwriters determine in their sole discretion will not
materially jeopardize the success of the offering by the Company and any such
initiating shareholders. If the total amount of securities, including
Registrable Securities, sought to be included in such offering exceeds the
amount of securities that the underwriters advise the Company in writing that in
their good faith judgment is compatible with the success of the offering, then
the total number of securities the underwriters advise can be sold shall be
allocated: (i) first, to the securities to be sold either by the Company or the
initiating shareholders, as the case may be; (ii) second, the Registrable
Securities, pro rata for each relevant Holder based upon the number of
Registrable Securities requested to be included in such registration; and (iii)
third, all other securities of the Company that the Company proposes to register
for any other person or entity in such registration in accordance with any
contractual provisions of the Company or, if no contractual provisions apply, as
the Company may reasonably determine.

          1.9 Indemnification. In the event any Registrable Securities are
              ---------------
covered by a registration statement pursuant to this Agreement:

               (a) To the extent permitted by law, the Company will indemnify
and hold harmless each Holder, any underwriter (as defined in the Securities
Act) for such Holder and each respective officer, director, partner, member,
shareholder, agent, affiliate or other representative of such Holder, and each
Person, if any, who controls such Holder within the meaning of Section 15 of the
Securities Act or Section 20 of the Securities Exchange Act of 1934, as amended
(the "Exchange Act") (each individually an "Indemnitee"), against any losses,
      ------------                          ----------
claims, damages, or liabilities (joint or several) to which they may become
subject under the Securities Act, the Exchange Act or other federal or state
law, insofar as such losses, claims, damages, or liabilities (or actions in
respect thereof) arise out of or are based upon any of the following statements,
omissions or violations (collectively a "Violation"): (i) any untrue statement
                                         ---------
or alleged untrue statement of a material fact contained in such registration
statement, including any preliminary prospectus, final prospectus or summary
prospectus contained therein or any amendment or supplement thereto, (ii) any
omission or alleged omission to state therein a material fact required to be
stated therein, or necessary to make the statements therein not misleading, or
(iii) any violation or alleged violation by the Company of the Securities Act,
the Exchange Act, any state or foreign securities law or any rule or regulation
promulgated under the Securities Act, the Exchange Act or any state or foreign
securities law; and the Company will reimburse each such Indemnitee, as
incurred, any legal or other expenses reasonably incurred by them in connection
with investigating or defending any such loss, claim, damage, liability, or
action Such indemnity shall remain in full force and effect regardless of any
investigation made by or on behalf of any Indemnitee and shall survive the
transfer of the Registrable Securities of such Indemnitee; provided, however,
the Company shall not be liable in any such case for any such loss, claim,
damage, liability or action to the extent that it arises out of or is based upon
a Violation which occurs in reliance upon and in conformity with written
information furnished expressly for use in connection with such registration by
such Holder, underwriter or controlling person of such Holder.

               (b) To the extent permitted by law, each selling Holder will
indemnify and hold harmless the Company, each of its directors, each of its
officers who have signed the registration statement, each person, if any, who
controls the Company

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within the meaning of the Securities Act, any underwriter and any other Holder
selling securities under such registration statement or any of such other
Holder's partners, directors, officers, legal counselor any person who controls
such Holder within the meaning of the Securities Act or the Exchange Act,
against any losses, claims, damages or liabilities (joint or several) to which
the Company or any such director, officer, legal counsel, controlling person,
underwriter or other such Holder, partner or director, officer or controlling
person of such other Holder may become subject under the Securities Act, the
Exchange Act or other applicable law, insofar as such losses, claims, damages or
liabilities (or actions in respect thereto) arise out of or are based upon any
Violation, in each case to the extent (and only to the extent) that such
Violation occurs in reliance upon and in conformity with written information
furnished by such Holder expressly for use in connection with such registration;
and each such Holder will reimburse any legal or other expenses reasonably
incurred by the Company or any such director, officer, control1ing person,
underwriter or other Holder, partner, officer, director or controlling person of
such other Holder in connection with investigating or defending any such loss,
claim, damage, liability or action: provided, however, that the indemnity
agreement contained in this Section 1.9(b) shall not apply to amounts paid in
settlement of any such loss, claim, damage, liability or action if such
settlement is effected without the consent of the Holder, which consent shall
not be unreasonably withheld; and provided further that the total amounts
payable in indemnity by a Holder under this Section I 9(b) in respect of any
Violation shall not exceed the net proceeds received by such Holder in the
registered offering out of which such Violation arises.

               (c) Promptly after receipt by an indemnified party under this
Section 1.9 of notice of the commencement of any action (including any
governmental action), such indemnified party will, if a claim in respect thereof
is to be made against any indemnifying party under this Section 1.9, deliver to
the indemnifying party a written notice of the commencement thereof and the
indemnifying party shall have the right to participate in, and, to the extent
the indemnifying party so desires, jointly with any other indemnifying party
similarly noticed, to assume the defense thereof with counsel satisfactory to
the indemnifying party or parties; provided, however, that an indemnified party
(together with all other indemnified parties which may be represented without
conflict by one counsel) shall have the right to retain one separate counsel,
with the reasonable fees and expenses to be paid by the indemnifying party, (i)
during the period from the delivery of a claim notice until the retention of
counsel by the indemnifying party; and (ii) if representation of such
indemnified party by the counsel retained by the indemnifying party would be
inappropriate due to actual or potential conflicts of interest between such
indemnified party and any other party represented by such counsel in such
proceeding. The failure to deliver written notice to the indemnifying party
within a reasonable time of the commencement of any such action, if prejudicial
to its ability to defend such action, shall re1ieve such indemnifying party of
any 1iability to the indemnified party under this Section-1.9, but the omission
so to deliver written notice to the indemnifying party wi11 not relieve it of
any 1iability that it may have to any indemnified party otherwise than under
this Section 1.9- If such defense is not assumed by the indemnifying party, the
indemnifying party shall not be subject to any 1iability for any settlement made
without its consent (but such consent shall not be unreasonably withheld). No
indemnified party shall be required to consent to entry of any judgment or enter
into any settlement that does not include as an unconditional term thereof the
giving by the claimant or plaintiff to such indemnified party of a written
release in form and substance reasonably satisfactory to such indemnified party
from all 1iability in respect of such claim

                                       11

<PAGE>

                                                                  EXECUTION COPY

or litigation

               (d) If the indemnification provided for in this Section 1.9 is
held by a court of competent jurisdiction to be unavailable to an indemnified
party with respect to any loss, 1iabi1ity, claim, damage or expense referred to
therein, then the indemnifying party, in lieu of indemnifying such indemnified
party hereunder, shall contribute to the amount paid or payable by such
indemnified party as a result of such loss, liability, claim, damage, or expense
in such proportion as is appropriate to reflect the relative fault of the
indemnifying party on the one hand and of the indemnified party on the other in
connection with the statements or omissions that resulted in such loss,
liability, claim, damage or expense as well as any other relevant equitable
considerations; provided, that in no event shall any contribution by a Holder
under this Subsection 1.9(c) exceed the net proceeds from the offering received
by such Holder, except in the case of willful fraud by such Holder. The relative
fault of the indemnifying party and of the indemnified party shall be determined
by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission to state a material fact relates to
information supplied by the indemnifying party or by the indemnified party and
the parties' relative intent, knowledge, access to information, and opportunity
to correct or prevent such statement or omission.

               (e) Notwithstanding the foregoing, to the extent that the
provisions on indemnification and contribution contained in the underwriting
agreement entered into in connection with the underwritten public offering are
in conflict with the foregoing provisions, the provisions in the underwriting
agreement shall control.

               (f) The obligations of the Company and Holders under this Section
1.9 shall survive the completion of any offering of Registrable Securities
pursuant to a registration under this Agreement, and otherwise.

          1.10 Reports Under the Exchange Act At any time after the effective
               ------------------------------
date of any registration statement filed by the Company pursuant to the
Securities Act, with a view to making available to the Holders the benefits of
Rule 144 promulgated under the Securities Act and any other rule or regulation
of the SEC that may at any time permit a Holder to sell securities of the
Company to the public without registration or pursuant to a registration on Form
F-3 or any successor registration form, the Company agrees to:

               (a) make and keep public information available, as those terms
are understood and defined in Rule ]44 under the Securities Act, at all times
after the Company becomes subject to the periodic reporting requirements under
Sections 1.3 or 15(d) of the Exchange Act;

               (b) take such action, including the voluntary registration of its
Ordinary Shares under Section 12 of the Exchange Act, as is necessary to enable
the Holders to utilize Form F.-3 for the sale of their Registrable Securities,
such action to be taken as soon as practicable after the end of the fiscal year
in which the first registration statement filed by the Company under the
Securities Act for the offering of its securities to the general public is
declared effective;

               (c) file with the SEC in a timely manner all reports and other
documents required to be filed by the Company under the Securities Act and the
Exchange Act; and

                                       12

<PAGE>

                                                                  EXECUTION COPY

               (d) furnish to any Holder, so long as the Holder owns any
Registrable Securities, forthwith upon request 0) a written statement by the
Company that it has complied with the reporting requirements of Rule ]44 under
the Securities Act, the Securities Act and the Exchange Act (at any time after
it has become subject to such reporting requirements), or that it qualifies as a
registrant whose securities may be resold pursuant to Form F-3 (at any time
after it so qualifies), (ii) a copy of the most recent annual or quarterly
report of the Company and such other reports and documents filed by the Company
under the Securities Act or the Exchange Act as may be requested by such Holder,
and (iii) such other information as may be requested in availing any Holder of
any rule or regulation of the SEC which permits the selling of any such
securities without registration or pursuant to Form F-3.

          1.11 Assignment of Registration Rights. The rights to cause the
               ---------------------------------
Company to register Registrable Securities pursuant to this Section 1 may be
assigned (but only with all related obligations hereunder and subject to Section
1.13(d)) by any Holder to any permitted transferee which executes and delivers
to the Company an appropriate instrument reasonably satisfactory to the Company
joining as a Holder party to this Agreement in respect of the Registrable
Securities acquired by such transferee.

          1.12 Limitations on Subsequent Registration Rights. From and after the
               ---------------------------------------------
date of this Agreement, the Company shall not, without the prior written consent
of the Holders of at least seventy--five percent (75%) of the outstanding
Registrable Securities, enter into any agreement (other than for rights that are
subordinate to the rights of the Holders hereunder) with any holder or
prospective holder of any securities of the Company which would allow such
holder or prospective holder (a) to include such securities in any registration
filed under Sections 12 and 14 hereof, or (b) to make a demand registration.

          1.13 Lock-up Agreement.
               -----------------

               (a) In connection with the Qualified IPO and upon request of the
underwriters managing such offering of the Company's securities, each Holder
agrees not to sell, make any short sale of, loan, grant any option for the
purchase of, or otherwise dispose of any securities of the Company (other than
those included in the registration) without the prior written consent of the
Company or such underwriters, as the case may be, for such period of time (not
to exceed one hundred eighty (180) days) from the effective date of such
registration as may be requested by such managing underwriters and to execute an
agreement reflecting the foregoing as may be reasonably requested by the
managing underwriters at the time of the Qualified IPO, provided such agreement
contains reasonable and customary exceptions (including, without limitation,
permitting transfers to affiliates and transfers of shares owned as a result of
open market purchases without restriction.

               (b) Limitations. The obligations described in Section 1.13 (a)
                   -----------
shall apply only if all officers and directors of the Company and all
shareholders owning, legally or beneficially, five percent (5%) or more of the
outstanding securities of the Company enter into similar agreements, and shall
not apply to a registration relating solely to employee benefit plans, or to a
registration relating solely to a transaction pursuant to Rule 145 under the
Securities Act,

               (c) Stop-Transfer Instructions. In order to enforce the foregoing
                   --------------------------
covenants, the Company may impose stop-transfer instructions with respect to the

                                       13

<PAGE>

                                                                  EXECUTION COPY

securities of each Holder (and the securities of every other person subject to
the restrictions in Section 1.13(a)),

               (d) Transferees Bound. Each Holder agrees that prior to the
                   -----------------
Qualified IPO it will not transfer securities of the Company unless each
transferee agrees in writing to be bound by all of the provisions of this
Section 1.13.

          1.14 Non-Effective Registrations, Any registration which is initiated
               ---------------------------
under Sections 1.2 or 1.4 of this Agreement and which does not become effective
as specified therein or which does not remain effective for a period of one
hundred eighty (180) days or such shorter time until all of the Registrable
Securities to be included in such registration have been sold, shall not count
as a registration under Sections 1.2, 1.3 or I 4 hereof.

          1.15 Notice to Discontinue. Each Holder of Registrable Securities
               ---------------------
agrees that upon receipt of any notice from the Company of the occurrence of any
event of the kind described in Section 1.5(f), provided that such occurrence
occurs through no fault of the Company, such Holder shall forthwith discontinue
disposition of Registrable Securities pursuant to the registration statement
covering such Registrable Securities until the earlier of 0) five (5) business
days after such Holder's receipt of the Company's notice under this Section
1.15, or (ii) such Holder's receipt of the copies of the supplemental or amended
prospectus, which the Company shall deliver to such Holder as soon as
practicable (but in no event later than five (5) business days after such
Holder's receipt of the Company's notice hereunder). Upon such Holder's receipt
of said supplemental or amended prospectus, (a) such Holder shall forthwith
dispose of Registrable Securities pursuant to such supplemental or amended
prospectus, and (b) if so directed by the Company shall deliver to the Company
(at the Company's expense) all copies, other than permanent file copies then in
such Holder's possession, of the prospectus covering such Registrable Securities
which is current at the time of receipt of such notice.

          2. Miscellaneous.
             -------------

          2.1 Termination of Registration Rights. The Holders registration
              ----------------------------------
rights provided for in Section I shall terminate with respect to any and all
Registrable Securities on the fifth (5th) anniversary of the closing date of the
Company's Qualified IPO or (ii) if, in the opinion of counsel to the Company,
all such Registrable Securities proposed to be sold by a Holder may then be sold
under Rule 144 of the Securities Act in one transaction without exceeding the
volume limitations thereunder.

          2.2 Other Jurisdictions. The parties hereto agree that in the event
              -------------------
the Company proposes, including for a Qualified IPO, to register or list its
securities in a jurisdiction other than the United States that regulates the
registration or listing of securities, terms substantially comparable to the
terms contained in this Agreement shall be binding upon the parties.

          2.3 Successors and Assigns. Except as otherwise provided in this
              ----------------------
Agreement, the terms and conditions of this Agreement shall inure to the benefit
of and be binding upon the respective permitted successors and assigns of the
parties. Nothing in this Agreement, express or implied, is intended to confer
upon any party other than the parties hereto or their respective successors and
assigns any rights, remedies, obligations, or liabilities under or by reason of
this Agreement, except as expressly provided in this Agreement.

                                       14

<PAGE>

                                                                  EXECUTION COPY

          2.4 Amendments and Waivers. Any term of this Agreement may be amended
              ----------------------
or waived only with the written consent of the Company and the holders of
seventy five percent (75%) all of the Registrable Securities then outstanding.
Any amendment or waiver effected in accordance with this paragraph shall be
binding upon each party to the Agreement, whether or not such party has signed
such amendment or waiver, each future holder of all such Registrable Securities,
and the Company.

          2.5 Notices. All notices and other communications delivered hereunder
(whether or not required to be delivered hereunder) shall be deemed sufficient
                --------------
and du1y given if contained in a written instrument (a) personally delivered,
(b) sent by telecopier, (c) sent by internationally recognized courier
guaranteeing next Business Day delivery or (d) sent by first class registered or
certified mail, postage prepaid, return receipt requested, in each case,
addressed as follows:

If to the Company:

               Hurray! Holding Co., Ltd.
               Address: c/o Codan Trust Company (Cayman) Limited
                        Century Yard, Cricket Square
                        Hutchins Drive, PO Box 268IGT
                        George Town, Grand Cayman
                        British West Indies

               Attn: Ms. Keisha Syms
               Facsimile No.: (86-10) &4&&-2491
               If to Fidelity:

               Fidelity Greater China Ventures Fund L.P.
               17/F, One International Finance Centre
               1 Harbour View Street
               Hong Kong SAR
               The People's Republic of China
               Attn: Daniel Auerbach
               Facsimile No: (852) 2509-0371

               If to Venture TDF Technology Fund III L.P.:

               Venture IDF Technology Fund III L.P., Unit 21 02-2103, China
               Merchants Tower, 161 Lujiazui East Road
               Pudong, Shanghai 200120
               The People's Republic of China
               Attn: TinaJu
               Facsimile No: (8621) 5840-0078

               If to Granite Global Ventures (Q.P.) L.P.

               Granite Global Ventures (Q.P.) L.P,
               2494 Sand Hill Road, Suite 201
               Menlo Park, California 94025
               U.S.A.
               Attn: Scott Bonham/Helen Wong

                                       15

<PAGE>

                                                                  EXECUTION COPY

               Facsimile No.: (1-650)475-2151

               If to Granite Global Ventures L.P.:
               Granite Global Ventures L.P.,
               2494 Sand Hill Road, Suite 201
               Menlo Park, Ca1ifornia 94025
               U.S.A.
               Attn: Scott Bonham/Helen Wong
               Facsimile No.: (1-650) 475-2151

               with a copy (which shall not constitute Notice) to:

               Kaye Scholer LLP
               Suites 907-90B, One International Finance Centre
               1 Harbour View Street, Central
               Hong Kong
               Attn: Franklin D. Chu, Esq.
               Facsimile No.: (852) 2845-2389

or to such other address as the party to whom such notice or other communication
is to be given may have furnished to each other party in writing in accordance
herewith. Any such notice or communication shall be deemed to have been received
(i) when de1ivered, if personally delivered, OJ) when sent, if sent by telecopy
on a Business Day (or, if not sent on a Business Day, on the next Business Day
after the date sent by telecopy), (iii) on the next Business Day after dispatch,
if sent by internationally recognized, overnight courier guaranteeing next
Business Day delivery, and (iv) on the fifth (5th) Business Day following the
date on which the piece of mail containing such communication is posted, if sent
by mail.

          2.6 Reformation. If any provision of this Agreement or the application
              -----------
of any such provision shall be held inva1id, i1Iegal or unenforceable in any
respect by a court of competent jurisdiction, such invalidity, i1Iegality or
unenforceability shall not affect any other provision hereof or any subsequent
application of such provision. In lieu of any such inva1id, illegal or
unenforceable provision, the parties hereto intend that there shall be added as
part of this Agreement a provision as similar in terms to such invalid, illegal
or unenforceable provision as may be possible and be va1id, legal and
enforceable.

          2.7 Governing Law. This Agreement and all acts and transactions
              -------------
pursuant hereto shall be governed, construed and interpreted in accordance with
the laws of the State of New York, the United States of America.

          2.8 Dispute Resolution.
              ------------------

               (a) Any dispute arising from out of or in connection with this
Agreement shall be settled by friendly consultations between the parties. Such
consultations shall begin immediately after one party has delivered to the other
party a written request for such consultation. If within thirty (30) days
following the date on which such notice was given, the dispute cannot be settled
through consultations, the parties shall submit the dispute for binding
arbitration in Hong Kong under the auspices of the Hong Kong International
Arbitration Centre (the "HKIAC").
                         -----

                                       16

<PAGE>

                                                                  EXECUTION COPY

               (b) There shall be three (3) arbitrators. The Company shall
select one (1) arbitrator and the Investors shall select one (1) arbitrator, and
both arbitrators shall be selected within twenty (20) days after giving or
receiving the demand for arbitration. Such arbitrators shall be freely selected,
and the parties shall not be limited in their selection to any prescribed list.
Such two (2) arbitrators shall select the third arbitrator, who shall be a
national of neither the United States nor the PRC. If the third arbitrator is
not selected within thirty (30) days after the giving or receiving the demand
for arbitration, the chairman of the HKIAC shall select the third arbitrator,
who shall be a national of neither the United States nor the PRC. If a party
does not appoint an arbitrator who has consented to participate within twenty
(20) days after giving or receiving the demand for arbitration, the relevant
appointment shall be made by the chairman of the HKIAC.

               (c) The arbitration proceedings shall be conducted in English.
The arbitration tribunal shall conduct the arbitration and apply the then
applicable Arbitration Rules of the HKIAC, except as such rules are modified or
displaced by any of the provisions of this Section 2.8.
                                           -----------

               (d) Each party sha1l cooperate with the other party or parties in
the dispute in making fu1l disclosure of and providing complete access to all
information and documents requested by such other party or parties in connection
with such proceedings, subject only to any confidentiality obligations binding
on such party.

               (e) The arbitration tribunal shall decide the matters submitted
based on the evidence presented, the terms of this Agreement, relevant usages of
trade and the applicable substantive law.

               (f) The arbitration tribunal sha1l issue a written award which
shall state the basis of the award and shall include findings of fact and
conclusions of law.

               (g) The arbitral award shall be final and binding upon both
parties, not subject to any appeal, and shall deal with the question of costs of
arbitration and a1l matters related thereto.

               (h) Judgment upon the award rendered by the arbitration may be
entered into any court having jurisdiction, or application may be made to such
court for a judicial recognition of the award or any order of enforcement
thereof.

          2.9 Titles and Subtitles. The titles and subtitles used in this
              --------------------
Agreement are used for convenience only and are not to be considered in
construing or interpreting this Agreement.

                            [Signature Page Follows]

          The parties have executed this Amended and Restated Registration
Rights Agreement as of the date first above written.

                                      HURRAY! HOLDING CO., LTD.

                                      By:
                                          --------------------------------------
                                      Name: Wang Qindai

                                       17

<PAGE>

                                                                  EXECUTION COPY

                                      Title:

                                      FIDELITY GREATER CHINA VENTIJRES FUND L.P.

                                      By:
                                          --------------------------------------
                                      Name: David Holland
                                      Title: Director

                                      VENTURE TDF TECHNOLOGY FUND III L.P.

                                      By: VENTURE TDF CHINA LLC, its general
                                      partner

                                      By:
                                          --------------------------------------
                                      Name: HO KAH LEONG
                                      Title: Managing Director

                                      GRANITE GLOBAL VENTURES (Q.P.) L.P.

                                      By: GRANITE GLOBAL VENTURES L.L.C., its
                                      general partner

                                      By:
                                          --------------------------------------
                                      Name:
                                      Title: Managing Partner

                                      GRANITE GLOBAL VENTURES L.P.

                                      By: GRANITE GLOBAL VENTURES L.L.C, its
                                      general partner

                                      By:
                                          --------------------------------------
                                      Name: Thomas Ng
                                      Title: Managing Partner

                                       18<PAGE>

                                                                    Exhibit 10.2

                            HURRAY! HOLDING CO., LTD.

                        2002 INCENTIVE COMPENSATION PLAN

                                  (CHINA PLAN)

     1. Purposes of the Plan. The purposes of this Incentive Compensation Plan
        --------------------
are to attract and retain the best available personnel, to provide additional
incentive to Employees, Directors and Consultants and to promote the success of
the Company's business.

     2. Definitions. As used herein, the following definitions shall apply:
        -----------

          2.1 "Administrator" means the Board or any of the Committees appointed
to administer the Plan.

          2.2 "Applicable Laws" means the legal requirements relating to the
administration of share incentive plans, if any, under applicable provisions of
the U.S. federal securities laws, the U.S. state corporate and securities laws,
the Code, the rules of any applicable stock exchange or national market system,
and the laws and rules of any jurisdiction outside the U.S. applicable to Awards
granted to residents therein.

          2.3 "Award" means the grant of an Option or SAR, or Restricted Shares.

          2.4 "Award Agreement" means the written agreement evidencing the grant
of an Award executed by the Company and the Grantee, including any amendments
thereto.

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

          2.6 "Code" means the U.S. Internal Revenue Code of 1986, as amended.

          2.7 "Committee" means any committee appointed by the Board to
administer the Plan, provided that the Committee shall consist of not fewer than
two (2) members of the Board and shall, following the Registration Date and,
solely to the extent required to comply with Applicable Laws, be composed of
"non-employee" directors within the meaning of Rule 16b-3 as promulgated under
the Exchange Act and "outside directors" within the meaning of the Code. To the
extent the Plan is administered by the Board, the term "Committee" shall refer
to the Board.

          2.8 "Common Share" means a share of US$0.001 nominal or par value, of
the Company, or, if applicable, the number or fraction of American Depositary
Receipt representing a Common Share.

          2.9 "Company" means Hurray! Holding Co., Ltd., a company incorporated
under the laws of the Cayman Islands.

          2.10 "Consultant" means any person (other than an Employee or a
Director) who is engaged by the Company or any Related Entity to render
consulting or advisory services to the Company

                                        1

<PAGE>

or such Related Entity or any other selective persons the Administrator
determines provides, directly or indirectly, bona fide value to the Company or
any Related Entity.

          2.11 "Continuous Service" means that the provision of services to the
Company or a Related Entity in any capacity of Employee, Director or Consultant,
is not interrupted or terminated. Continuous Service shall not be considered
interrupted in the case of (i) any approved leave of absence, (ii) transfers
among the Company, any Related Entity, or any successor, in any capacity of
Employee, Director or Consultant, or (iii) any change in status as long as the
individual remains in the service of the Company or a Related Entity in any
capacity of Employee, Director or Consultant (except as otherwise provided in
the Award Agreement). An approved leave of absence shall include sick leave,
maternity leave, or any other authorized personal leave. For purposes of
Incentive Share Options, no such leave may exceed ninety (90) days, unless
re-employment upon expiration of such leave is guaranteed by statute or
contract.

          2.12 "Corporate Transaction" means any of the following transactions
to which the Company is a party:

               (i) a merger or consolidation or reorganization in which the
Company is not the surviving entity; or

               (ii) the sale, transfer or other disposition of all or
substantially all of the assets of the Company (including the share capital of
the Company's Subsidiaries).

          2.13 "Director" means a member of the Board or the board of directors
of any Related Entity.

          2.14 "Disability" means that a Grantee is permanently unable to carry
out the responsibilities and functions of the position held by the Grantee by
reason of any medically determinable physical or mental impairment as determined
by the Administrator. A Grantee will not be considered to have incurred a
Disability unless he or she furnishes proof of such impairment sufficient to
satisfy the Administrator in its discretion.

          2.15 "Employee" means any person, including an Officer or Director,
who is an employee of the Company or any Related Entity. The payment of an
independent director's fee by the Company or a Related Entity shall not be
sufficient to constitute "employment" of such person by the Company.

          2.16 "Exchange Act" means the U.S. Securities Exchange Act of 1934, as
amended.

          2.17 "Fair Market Value" means, as of any date, the value of Common
Shares as follows:

               (a) Where there exists a public market for the Common Shares, the
Fair Market Value shall be (i) the closing price for a Share for the last market
trading day prior to the time of the determination (or, if no closing price was
reported on that date, on the last trading date on which a closing price was
reported) on the stock exchange determined by the Administrator to be the
primary market for the Common Shares or the Nasdaq National Market, whichever is
applicable, or (ii) if the Common Shares are not traded on any such exchange or
national market system, the average of the

                                        2

<PAGE>

closing bid and asked prices of a Share on the Nasdaq Small Cap Market for the
day prior to the time of the determination (or, if no such prices were reported
on that date, on the last date on which such prices were reported), in each
case, as reported in The Wall Street Journal or such other source as the
Administrator deems reliable; or

               (b) In the absence of an established market for the Common Shares
of the type described in (a), above, the Fair Market Value thereof shall be
determined by the Administrator in good faith by reference to the placing price
of the latest private placement of the Shares and the development of the
Company's business operations since such latest private placement.

          2.18 "Grantee" means an Employee, Director or Consultant who receives
an Award under the Plan.

          2.19 "Immediate Family" means any child, stepchild, grandchild,
parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew,
mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or
sister-in-law, including adoptive relationships, any person sharing the
Grantee's household (other than a tenant or employee), a trust in which these
persons (or the Grantee) have more than fifty percent (50%) of the beneficial
interest, a foundation in which these persons (or the Grantee) control the
management of assets, and any other entity in which these persons (or the
Grantee) own more than fifty percent (50%) of the voting interests.

          2.20 "Incentive Share Option" means an Option intended to qualify as
an incentive stock option within the meaning of Section 422 of the Code.

          2.21 "Liquidation Event" means a complete dissolution or liquidation
of the Company.

          2.22 "Non-Statutory Share Option" means an Option not intended to
qualify as an Incentive Share Option.

          2.23 "Officer" means a person who is an officer of the Company or a
Related Entity within the meaning of Section 16 of the Exchange Act and the
rules and regulations promulgated thereunder or, to the extent applicable, other
Applicable Laws.

          2.24 "Option" means an option to purchase Shares pursuant to an Award
Agreement granted under the Plan.

          2.25 "Parent" means a "parent corporation", whether now or hereafter
existing, as defined in Section 424(e) of the Code or, to the extent applicable,
other Applicable Laws.

          2.26 "Plan" means this 2002 Incentive Compensation Plan.

          2.27 "Registration Date" means the first to occur of (a) the closing
of the first sale to the general public of (i) the Common Shares or (ii) the
same class of securities of a successor corporation (or its Parent) issued
pursuant to a Corporate Transaction in exchange for or in substitution of the
Common Shares, pursuant to a registration statement filed with and declared
effective by the Securities and Exchange Commission under the Securities Act or
an equivalent thereof in a jurisdiction outside the U.S.; and (b) in the event
of a Corporate Transaction, the date of the consummation of the Corporate

                                        3

<PAGE>

Transaction if the same class of securities of the successor corporation (or its
Parent) issuable in such Corporate Transaction shall have been sold to the
general public pursuant to a registration statement filed with and declared
effective by the Securities and Exchange Commission under the Securities Act or
an equivalent thereof in a jurisdiction outside the U.S., on or prior to the
date of consummation of such Corporate Transaction.

          2.28 "Related Entity" means any Parent, Subsidiary and any other
corporation, partnership, limited liability company or other business entity in
which the Company, its Parent or a Subsidiary holds a substantial ownership
interest, directly or indirectly.

          2.29 "Restricted Shares" mean Common Shares issued to a Grantee under
this Plan.

          2.30 "Securities Act" means the U.S. Securities Act of 1933, as
amended.

          2.31 "SAR" means a Share Appreciation Right granted to a Grantee under
this Plan.

          2.32 "Shares" mean Common Shares of the Company.

          2.33 "Subsidiary" means a "subsidiary corporation", whether now or
hereafter existing, as defined in Section 424(f) of the Code or, to the extent
applicable, other Applicable Laws.

     3. Shares Subject to the Plan.
        --------------------------

          3.1 Subject to the provisions of Section 10.1 below, the maximum
aggregate number of Shares which may be issued pursuant to all Awards (including
Incentive Share Options) under this Plan and other similar plans adopted by the
Company is 5,000,000 Shares.

          3.2 Any Shares covered by an Award (or portion of an Award) which is
forfeited or cancelled, expires or is settled in cash or otherwise, shall be
deemed not to have been issued for purposes of determining the maximum aggregate
number of Shares which may be issued under the Plan. If any unissued Shares are
retained by the Company upon exercise of an Award in order to satisfy the
exercise price for such Award or any withholding taxes due with respect to such
Award, such retained Shares subject to such Award shall become available for
future issuance under the Plan (unless the Plan has terminated). Shares that
actually have been issued under the Plan pursuant to an Award shall not be
returned to the Plan and shall not become available for future issuance under
the Plan.

     4. Administration of the Plan.
        --------------------------

          4.1 Plan Administrator. With respect to grants of Awards to Employees,
              ------------------
Directors, or Consultants, the Plan shall be administered by (a) the Board or
(b) a Committee (or a subcommittee of the Committee) designated by the Board,
which Committee shall be constituted in such a manner as to satisfy Applicable
Laws. Once appointed, such Committee shall continue to serve in its designated
capacity until otherwise directed by the Board.

          4.2 Powers of the Administrator. Subject to Applicable Laws and the
              ---------------------------
provisions of the Plan (including any other powers given to the Administrator
hereunder), and except as otherwise provided by the Board, the Administrator
shall have the authority, in its discretion:

                                        4

<PAGE>

               (a) to select the Employees, Directors and Consultants to whom
Awards may be granted from time to time hereunder;

               (b) to determine whether and to what extent Awards are granted
hereunder;

               (c) to determine the number of Shares or the amount of other
consideration to be covered by each Award granted hereunder;

               (d) to approve forms of Award Agreements for use under the Plan;

               (e) to determine the terms and conditions of any Award granted
hereunder;

               (f) to establish additional terms, conditions, rules or
procedures to accommodate the rules or laws of applicable foreign jurisdictions
and to afford Grantees favorable treatment under such rules or laws; provided,
                                                                     --------
however, that no Award shall be granted under any such additional terms,
-------
conditions, rules or procedures with terms or conditions which are inconsistent
with the provisions of the Plan;

               (g) to amend the terms of any outstanding Award granted under the
Plan, and to reduce the exercise price of any Option or SAR to the then current
Fair Market Value if the Fair Market Value of the Shares covered by such Award
shall have declined since the date the Award was granted and to make any other
amendments or adjustments to any Award that the Administrator determines, in its
discretion and under the authority granted to it under this Plan, to be
necessary or advisable, provided that the exercise price shall never fall below
                        --------
the nominal or par value of the Shares, and that any such amendment or
adjustment that would adversely affect the Grantee's rights under an outstanding
Award shall not be made without the Grantee's written consent;

               (h) to construe and interpret the terms of the Plan and Awards,
including without limitation, any notice of Award or Award Agreement, granted
pursuant to the Plan; and

               (i) to take such other action, not inconsistent with the terms of
the Plan, as the Administrator deems appropriate.

     5. Eligibility. Incentive Share Options may be granted only to Employees of
        -----------
the Company, a Parent or a Subsidiary. Awards other than Incentive Share Options
may be granted to Employees, Directors and Consultants. An Employee, Director or
Consultant who has been granted an Award may, if otherwise eligible, be granted
additional Awards. Awards may be granted to such Employees, Directors or
Consultants who are residing in foreign jurisdictions as the Administrator may
determine from time to time.

     6. Type of Awards; Terms and Conditions of Awards. Awards under the Plan
        ----------------------------------------------
may consist of one or more of the following: Options, SARs, or Restricted Shares
(which may be granted as Restricted Share units). Awards of Restricted Shares
may provide the Grantee with dividends or dividend equivalents and voting rights
prior to vesting. Each Award shall be designated in the Award Agreement.

          6.1 Options.
              -------

               (a) Option Designation. In the case of an Option, the Option
                   ------------------
shall be designated as either an Incentive Share Option or a Non-Statutory Share
Option. However,

                                        5

<PAGE>

notwithstanding such designation, to the extent that the aggregate Fair Market
Value of Shares subject to Options designated as Incentive Share Options which
become exercisable for the first time by a Grantee during any calendar year
(under all plans of the Company or any of its Parent or Subsidiary) exceeds
US$100,000, such excess Options, to the extent of the Shares covered thereby in
excess of the foregoing limitation, shall be treated as Non-Statutory Share
Options. For this purpose, Incentive Share Options shall be taken into account
in the order in which they were granted, and the Fair Market Value of the Shares
shall be determined as of the grant date of the relevant Option.

               (b) Option Exercise Price. The exercise price of an Option shall
                   ---------------------
be as follows:

                    (i) In the case of an Incentive Share Option:

                         (A) granted to an Employee who, at the time of the
grant of such Incentive Share Option owns shares representing more than ten
percent (10%) of the voting power of all classes of shares of the Company or any
Parent or Subsidiary, the per Share exercise price shall be not less than one
hundred ten percent (110%) of the Fair Market Value per Share on the date of
grant; or

                         (B) granted to any Employee other than an Employee
described in the preceding paragraph, the per Share exercise price shall be not
less than one hundred percent (100%) of the Fair Market Value per Share on the
date of grant.

                    (ii) In the case of a Non-Statutory Share Option:

                         (A) granted to a person who, at the time of the grant
of such Non-Statutory Share Option owns shares representing more than ten
percent (10%) of the voting power of all classes of shares of the Company or any
Parent or Subsidiary, the per Share exercise price shall be not less than one
hundred percent (100%) of the Fair Market Value per Share on the date of grant;
or

                         (B) granted to a person other than a person described
in the preceding paragraph, the per Share exercise price shall be not less than
eighty five percent (85%) of the Fair Market Value per Share on the date of
grant.

                    (iii) Notwithstanding the foregoing provisions of this
Section 6.1(b), in the case of an Option issued pursuant to Section 6.5, below,
the exercise or purchase price for the Option shall be determined in accordance
with the principles of Section 424(a) of the Code or other Applicable Law.

                    (iv) Notwithstanding the foregoing provisions of this
Section 6.1(b) if the exercise price determined pursuant to the forgoing shall
fall below the nominal or par value of the Shares, the exercise price for an
Option shall be the nominal or par value of the Shares.

               (c) Consideration. In addition to any other types of
                   -------------
consideration the Administrator may determine, the Administrator is authorized
to accept as consideration for Shares issued under the Plan the following: (i)
cash or check in U.S. dollars (in connection therewith the Administrator may
require the Grantee to provide evidence that the funds were taken out of any
relevant non-U.S. jurisdiction in accordance with applicable foreign exchange
control laws and regulations); (ii) cancellation of indebtedness owed by the
Company to the Grantee; (iii) promissory note; (iv) Shares previously acquired
by the Grantee valued at the Fair Market Value at the time of the exercise; (v)
withholding from

                                        6

<PAGE>

delivery to the Grantee that number of whole Shares having a Fair Market Value
at the time of the exercise equal to the exercise price payable to the Company
upon exercise of the Option; or (vi) any combination of the foregoing methods of
payment.

               (d)  Easy-Sale Exercise.
                    ------------------

                    (i) Exercise/Sale. An Award Agreement may, but need not,
                        -------------
provide that, if Shares are publicly traded, all or part of the exercise price
of an Option and any withholding taxes may be paid by the delivery (on a form
prescribed by the Company) of an irrevocable direction to a securities broker
approved by the Company to sell Shares and to deliver all or part of the sales
proceeds to the Company.

                    (ii) Exercise/Pledge. An Award Agreement may, but need not,
                         ---------------
provide that, if Shares are publicly traded, all or part of the exercise price
of an Option and any withholding taxes may be paid by the delivery (on a form
prescribed by the Company) of an irrevocable direction to pledge Shares to a
securities broker or lender approved by the Company, as security for a loan, and
to deliver all or part of the loan proceeds to the Company.

          6.2 SARs.
              ----

               (a) Grant. SARs may be granted in tandem with an Option, in
                   -----
addition to an Option, or may be freestanding and unrelated to an Option. SARs
granted in tandem or in addition to a Option may be granted either at the same
time as the Option or at a later time. SARs shall vest and become exercisable at
a rate determined by the Administrator, and shall remain exercisable for such
period as specified by the Administrator. A SAR shall entitle the Grantee to
receive from the Company an amount equal to the excess of the Fair Market Value
of a Share on the exercise of the SAR over the Fair Market Value of a Share on
the date of grant or, in the case of an SAR granted in tandem with an Option,
the per Share exercise price applicable to such Option.

               (b) Settlement. The Administrator shall determine in its sole
                   ----------
discretion whether the SAR shall be settled in cash, Shares or a combination of
cash and Shares. In no event may any Grantee receive grants of SARs with respect
to more than 250,000 Shares in any calendar year.

          6.3 Restricted Shares.
              -----------------

               (a) Grant. Restricted Shares may be granted in the form of Shares
                   -----
or share units having a value equal to an identical number of Shares. The
employment conditions and the length of the period for vesting of Restricted
Shares shall be established by the Administrator at time of grant. In the event
that a share certificate is issued in respect of Restricted Shares, such
certificate shall be registered in the name of the Grantee but shall be held by
the Company until the end of the restricted period. During the restricted
period, Restricted Shares may not be sold, assigned, transferred or otherwise
disposed of, or pledged or hypothecated as collateral for a loan or as security
for the performance of any obligation or for any other purpose as the
Administrator shall determine.

               (b) Settlement. The Administrator shall determine in its sole
                   ----------
discretion whether Restricted Shares granted in the form of share units shall be
paid in cash, Shares, or a combination of cash and Shares.

                                        7

<PAGE>

          6.4 Conditions of Award; Vesting and Repurchase Right. Subject to the
              -------------------------------------------------
terms of the Plan, the Administrator shall determine the provisions, terms, and
conditions of each Award including, but not limited to, the Award vesting
schedule, repurchase provisions, rights of first refusal, forfeiture provisions,
form of payment (cash, Shares, or other consideration) upon settlement of the
Award, payment contingencies, and satisfaction of any performance criteria,
provided, however, unless specifically provided otherwise in the relevant Award
--------  -------
Agreement, one third (1/3rd) of the Award shall vest at each of 1st, 2nd, and
3rd anniversaries following the issuance of such Award so long as the Grantee
provides Continuous Service to the Company.

          6.5 Acquisitions and Other Transactions. The Administrator may issue
              -----------------------------------
Awards under the Plan in settlement, assumption or substitution for, outstanding
Awards or obligations to grant future Awards in connection with the Company or a
Related Entity acquiring another entity, an interest in another entity or an
additional interest in a Related Entity whether by merger, share purchase, asset
purchase or other form of transaction.

          6.6 Deferral of Award Payment. The Administrator may establish one or
              -------------------------
more programs under the Plan to permit selected Grantees the opportunity to
elect to defer receipt of consideration upon exercise of an Award, satisfaction
of performance criteria, or other event that absent the election would entitle
the Grantee to payment or receipt of Shares or other consideration under an
Award. The Administrator may establish the election procedures, the timing of
such elections, the mechanisms for payments of, and accrual of interest or other
earnings, if any, on amounts, Shares or other consideration so deferred, and
such other terms, conditions, rules and procedures that the Administrator deems
advisable for the administration of any such deferral program.

          6.7 Award Exchange Programs. The Administrator may establish one or
              -----------------------
more programs under the Plan to permit selected Grantees to exchange an Award
under the Plan for one or more other types of Awards under the Plan on such
terms and conditions as determined by the Administrator from time to time.

          6.8 Separate Programs. The Administrator may establish one or more
              -----------------
separate programs under the Plan for the purpose of issuing particular forms of
Awards to one or more classes of Grantees on such terms and conditions as
determined by the Administrator from time to time.

          6.9 Early Exercise. The Award Agreement may, but need not, include a
              --------------
provision whereby the Grantee may elect, at any time while being an Employee,
Director or Consultant, to exercise any part or all of the Award prior to full
vesting of the Award. Any unvested Shares received pursuant to such exercise may
be subject to a repurchase right in favor of the Company or a Related Entity or
to any other restriction the Administrator determines to be appropriate.

          6.10 Term of Award. The term of each Award shall be the term stated in
               -------------
the Award Agreement up to ten (10) years from the date of grant thereof, except
that in the case of an Incentive Share Option granted to a Grantee who, at the
time the Option is granted, owns Shares representing more than ten percent (10%)
of the voting power of all classes of the shares of the Company or any Parent or
Subsidiary, the term of the Incentive Share Option shall be five (5) years from
the date of grant thereof or such shorter term as may be provided in the Award
Agreement.

          6.11 Transferability of Awards. No Award may be sold, pledged,
               -------------------------
assigned, hypothecated, transferred, or disposed of in any manner other than by
will or by the laws of descent or distribution and may be exercised, during the
lifetime of the Grantee, only by the Grantee; provided,
                                              --------

                                        8

<PAGE>

however, during the lifetime of the Grantee, SARs may be transferred by gift to
-------
members of the Grantee's Immediate Family to the extent and manner determined by
the Administrator.

          6.12 Time of Granting Awards. The date of grant of an Award shall for
               -----------------------
all purposes be the date on which the Administrator makes the determination to
grant such Award, or such other date as is determined by the Administrator.
Notice of the grant determination shall be given to each Employee, Director or
Consultant to whom an Award is so granted within a reasonable time after the
date of such grant.

          6.13 Buyout Provisions. The Administrator may at any time offer to buy
               -----------------
out for a payment in cash or Shares or other consideration, any Award previously
granted based on such terms and conditions as the Administrator shall establish
and communicate to the Grantee at the time such offer is made.

     7. Withholding. The Company shall have the right to deduct from any payment
        -----------
to be made pursuant to the Plan the amount of any taxes required by law to be
withheld therefrom, or to require a Grantee to pay to the Company such amount
required to be withheld prior to the issuance or delivery of any Shares or the
payment of cash under the Plan. The Administrator may, in its discretion, permit
a Grantee to elect to satisfy such withholding obligation by having the Company
retain the number of Shares whose Fair Market Value equals the amount required
to be withheld. Any fraction of a Share required to satisfy such obligation
shall be disregarded and the amount due shall instead be paid in cash by the
Grantee.

     8. Exercise of Award.
        -----------------

          8.1  Procedure for Exercise; Rights as a Shareholder.
               -----------------------------------------------

               (a) Any Award granted hereunder shall be exercisable at such
times and under such conditions as determined by the Administrator under the
terms of the Plan and specified in the Award Agreement.

               (b) An Award shall be deemed to be exercised when written notice
of such exercise has been given to the Company, as in a form required under the
applicable Award Agreement, in accordance with the terms of the Award by the
person entitled to exercise the Award and full payment for the Shares is made
with respect to which the Award is exercised. Until the issuance (as evidenced
by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company) of the share certificate evidencing such Shares,
no right to vote or receive dividends or any other rights as a shareholder shall
exist with respect to Shares subject to an Award, notwithstanding the exercise
of an Option or other Award. The Company shall issue (or cause to be issued)
such share certificate as soon as practicable following the exercise of the
Award. No adjustment will be made for a dividend or other right for which the
record date is prior to the date the share certificate is issued, except as
provided in the Award Agreement or Section 10, below.

          8.2 Exercise of Option or SAR Following Termination of Continuous
              -------------------------------------------------------------
Service. If the Grantee's Continuous Service is terminated for any reason other
-------
than death or Disability, such Grantee shall have the right to exercise the
Option or SAR at any time within thirty (30) days (or such other period of time
not exceeding three (3) months as is determined by the Administrator at the time
of granting the Option), following the date such Grantee ceases his or her
Continuous Service to the extent that such Grantee was entitled to exercise the
Option or SAR at the date of such termination; provided,
                                               --------

                                        9

<PAGE>

however, that no Option or SAR shall be exercisable after the expiration of the
-------
term set forth in the applicable Award Agreement. To the extent that such
Grantee was not entitled to exercise the Option or SAR at the date of such
termination, or if such Grantee does not exercise such Option or SAR (which such
Grantee was entitled to exercise) within the time specified herein, the Option
or SAR shall terminate.

          8.3 Death or Disability of Grantee. If a Grantee's Continuous Service
              ------------------------------
is terminated due to death or Disability, the Option or SAR may be exercised at
any time within six (6) months following the date of death or termination of
employment due to Disability, in the case of death, by the Grantee's estate or
by a person who acquired the right to exercise the Option or SAR by bequest or
inheritance, or, in the case of Disability, by the Grantee, but in any case only
to the extent the Grantee was entitled to exercise the Option or SAR at the date
of his or her termination of Continuous Service by death or Disability;
provided, however, that no Option or SAR shall be exercisable after the
--------  -------
expiration of the term set forth in the Award Agreement. To the extent that such
Grantee was not entitled to exercise such Option or SAR at the date of his or
her termination of employment by death or Disability or if such Option or SAR is
not exercised (to the extent it could be exercised) within the time specified
herein, the Option or SAR shall terminate.

          8.4 Extension of Time to Exercise. Notwithstanding anything to the
              -----------------------------
contrary in this Section 8, the Administrator may at any time and from time to
time prior to the termination of a Nonstatutory Share Option, with the consent
of the Grantee, extend the period of time during which the Grantee may exercise
his or her Nonstatutory Share Option following the date the Grantee's ceases
Continuous Services; provided, however, that (a) the maximum period of time
                     --------  -------
during which a Nonstatutory Share Option shall be exercisable following such
termination date shall not exceed an aggregate of six (6) months, (b) the
Nonstatutory Share Option shall not become exercisable after the expiration of
the term of such Option as set forth in the Award Agreement as a result of such
extension, and (c) notwithstanding any extension of time during which the
Nonstatutory Share Option may be exercised, such Option, unless otherwise
amended by the Administrator, shall only be exercisable to the extent to which
the Optionee was entitled to exercise it on the date Grantee ceased Continuous
Services. To the extent that such Grantee was not entitled to exercise the
Option at the date of such termination, or if such Grantee does not exercise an
Option which Grantee was entitled to exercise within the time specified herein,
the Option shall terminate.

     9. Conditions Upon Issuance of Shares.
        ----------------------------------

          9.1 No Violation of Law. Shares shall not be issued pursuant to an
              -------------------
Award or the exercise of an Award unless the exercise of such Award and the
issuance and delivery of such Shares pursuant thereto shall comply with all
Applicable Laws, and the Administrator may further subject any issuance of
Shares to the approval of counsel for the Company with respect to such
compliance.

          9.2 Execution of Documents. As a condition to the exercise of an
              ----------------------
Award, the Administrator may require the person exercising such Award to execute
an investment representation statement acceptable to the Company or a share
purchase agreement acceptable to the Company, each in forms approved by the
Administrator from time to time, in addition to the any other instrument the
Administrator deems necessary or advisable.

     10. Adjustments Upon Changes in Capitalization or Corporate Transaction.
         -------------------------------------------------------------------

          10.1 Adjustments upon Changes in Capitalization. Subject to any
               ------------------------------------------
required action by the shareholders of the Company, the number of Shares covered
by each outstanding Award, and the

                                       10

<PAGE>

number of Shares which have been authorized for issuance under the Plan but as
to which no Awards have yet been granted or which have been returned to the
Plan, the exercise or purchase price of each such outstanding Award, as well as
any other terms that the Administrator determines require adjustment shall be
proportionately adjusted for (a) any increase or decrease in the number of
issued Shares resulting from a share split, reverse share split, share dividend,
combination or reclassification of the Shares, or similar transaction affecting
the Shares, (b) any other increase or decrease in the number of issued Shares
effected without receipt of consideration by the Company, or (c) as the
Administrator may determine in its discretion, any other transaction with
respect to Shares to which Section 424(a) of the Code applies or a similar
transaction; provided, however, that conversion of any convertible securities of
             --------  -------
the Company shall not be deemed to have been "effected without receipt of
consideration." Such adjustment shall be made by the Administrator and its
determination shall be final, binding and conclusive. Except as the
Administrator determines, no issuance by the Company of shares of any class, or
securities convertible into shares of any class, shall affect, and no adjustment
by reason hereof shall be made with respect to, the number or price of Shares
subject to an Award.

          10.2 Corporate Transaction. In the event of a proposed Corporate
               ---------------------
Transaction, subject to the actual consummation of the proposed transaction,
each outstanding Award shall automatically become fully vested and exercisable,
unless the Award is assumed or substituted with an equivalent option or right by
the successor corporation or the Parent or Subsidiary thereof. If the successor
corporation refuses to assume or substitute for the Award, the Administrator
shall notify the Grantee that the Award shall be fully vested and exercisable
with respect to all of the Shares underlying the Award (including Shares as to
which it would not otherwise be vested or exercisable) for a period of fifteen
(15) days from the date of such notice. If the Award thus becomes fully vested
and exercisable but is not exercised during this fifteen (15) day period, it
shall terminate immediately prior to the effective time of such Corporate
Transaction. For the purposes of this Section 10.2, the Award shall be
considered assumed or substituted with an equivalent option or right if, in
connection with the Corporate Transaction, the Award is replaced with a
comparable option or right with respect to shares of the successor corporation
or Parent or Subsidiary thereof or is replaced with a cash incentive program of
the successor corporation or Parent or Subsidiary thereof which preserves the
compensation element of such Award existing at the time of the Corporate
Transaction and provides for subsequent payout in accordance with the same
vesting schedule applicable to such Award. The determination of Award
comparability above shall be made by the Administrator and its determination
shall be final, binding and conclusive.

          10.3 Liquidation Event. In the event of a proposed Liquidation Event,
               -----------------
the Administrator shall notify each Grantee of the proposed event at least
twenty (20) days prior to the proposed effective date of the Liquidation Event.
The Administrator in its discretion may provide for a Grantee to have the right
to exercise his or her Award until ten (10) days prior to the proposed effective
date for the Liquidation Event with respect to all Shares underlying the Award
(including Shares as to which it would not otherwise be vested or exercisable),
subject to the actual completion of the Liquidation Event at the time and in the
manner contemplated. In addition, the Administrator may provide that any Company
repurchase option applicable to any Shares issued upon grant or an exercise of
an Award shall lapse as to all Shares, subject to the actual completion of the
Liquidation Event at the time and in the manner contemplated. Any unexercised
Award shall terminate immediately prior to effective time of the Liquidation
Event.

     11. Effective Date and Term of Plan. The Plan shall become effective upon
         -------------------------------
its adoption by the Board. It shall continue in effect for a term of ten (10)
years unless sooner terminated. Subject to

                                       11

<PAGE>

Section 17, below, and Applicable Laws, Awards may be granted under the Plan
upon its becoming effective.

     12. Amendment, Suspension or Termination of the Plan. The Board may at any
         ------------------------------------------------
time amend, suspend or terminate the Plan. No Award may be granted during any
suspension of the Plan or after termination of the Plan. Any amendment,
suspension or termination of the Plan (including termination of the Plan
pursuant to this Section 12) shall not affect Awards already granted, and such
Awards shall remain in full force and effect as if the Plan had not been
amended, suspended or terminated, unless mutually agreed otherwise between the
Grantee and the Administrator, which agreement must be in writing and signed by
the Grantee and the Company.

     13. Availability of Shares; No Issuance in Violation of Law.
         -------------------------------------------------------

          13.1 Availability of Shares. The Company, during the term of the Plan,
               ----------------------
will at all times keep available such number of unissued Shares as shall be
sufficient to satisfy the requirements of the Plan.

          13.2 No Issuance in Violation of Law. The inability of the Company to
               -------------------------------
obtain authority from any regulatory body having jurisdiction under Applicable
Law, which authority is deemed by the Company's counsel to be necessary to the
lawful issuance and sale of any Shares hereunder, shall relieve the Company of
any liability in respect of the failure to issue or sell such Shares as to which
such requisite authority shall not have been obtained.

     14. No Effect on Terms of Employment/Consulting Relationship. The Plan
         --------------------------------------------------------
shall not confer upon any Grantee any right with respect to the Grantee's
Continuous Service, nor shall it interfere in any way with his or her right or
the Company's or a Related Entity's right to terminate the Grantee's Continuous
Service at any time, with or without cause.

     15. No Effect on Retirement and Other Benefit Plans. Except as specifically
         -----------------------------------------------
required by law or provided in a retirement or other benefit plan of the Company
or a Related Entity, Awards shall not be deemed compensation for purposes of
computing benefits or contributions under any retirement plan of the Company or
a Related Entity, and shall not affect any benefits under any other benefit plan
of any kind or any benefit plan subsequently instituted under which the
availability or amount of benefits is related to level of compensation. The Plan
is not a "Retirement Plan" or "Welfare Plan" under the U.S. Employee Retirement
Income Security Act of 1974, as amended.

     16. Liability of the Company; Consents.
         ----------------------------------

          16.1 Qualification as Incentive Share Option. Neither the Company nor
               ---------------------------------------
any Related Entity shall be liable to any Grantee or to any other person if it
is determined that an Option intended to be an Incentive Share Option granted
hereunder does not qualify as incentive stock options within the meaning of
Section 422 or the Code.

          16.2 Consents. Grantee shall be responsible for obtaining any
               --------
governmental or other official consent that may be required by any country or
jurisdiction in order to permit the grant or exercise of any Award. Neither the
Company nor any Related Entity shall be responsible for any failure by a Grantee
to obtain such consent or for any tax or other liability to which a Grantee may
become subject to as a result of his or her participation in the Plan.

                                       12

<PAGE>

     17. Shareholder Approval. The grant of Incentive Share Options under the
         --------------------
Plan shall be subject to approval of the Plan by the shareholders of the Company
within twelve (12) months before or after the date the Plan is adopted by the
Board excluding Incentive Share Options issued in substitution for outstanding
Incentive Share Options pursuant to Section 424(a) of the Code. Such shareholder
approval shall be obtained in the degree and manner required under Applicable
Laws. The Administrator may grant Incentive Share Options under the Plan prior
to approval by the shareholders, but until such approval is obtained, no such
Incentive Share Option shall be exercisable. In the event that shareholder
approval is not obtained within the twelve (12) month period provided above, all
Incentive Share Options previously granted under the Plan shall be exercisable
as Non-Statutory Share Options.

                                       13

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