Document:

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                                                                    Exhibit 10.9

                              EMPLOYMENT AGREEMENT

PLEASE READ THIS AGREEMENT CAREFULLY. THIS AGREEMENT DESCRIBES THE BASIC LEGAL
AND ETHICAL RESPONSIBILITIES THAT YOU ARE REQUIRED TO OBSERVE AS AN EXECUTIVE
EXPOSED TO HIGHLY SENSITIVE TECHNOLOGY AND STRATEGIC INFORMATION. CONSULT WITH
YOUR LEGAL COUNSEL IF ALL THE TERMS AND PROVISIONS OF THIS AGREEMENT ARE NOT
FULLY UNDERSTOOD BY YOU.

         THIS AGREEMENT is made as of the 1st day of March, 2000, by and between
SYKES ENTERPRISES, INCORPORATED, a Florida corporation (the "Company"), and
CHARLES E. SYKES (the "Executive").

                              W I T N E S S E T H :

         WHEREAS, the Company desires to assure itself of the Executive's
continued employment in an executive capacity; and

         WHEREAS, the Executive desires to be employed by the Company on the
terms and conditions hereinafter set forth.

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
of the parties contained herein, and other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereto
covenant and agree as follows:

         1. EMPLOYMENT AND DUTIES. Subject to the terms and conditions of this
Agreement, the Company shall employ the Executive during the Term (as
hereinafter defined) in such management capacities as may be assigned from time
to time by the Company. The Executive accepts such employment and agrees to
devote his best efforts and entire business time, skill, labor, and attention to
the performance of such duties. The Executive agrees to promptly provide a
description of any other commercial duties or pursuits engaged in by the
Executive to the Company's Board of Directors. If the Board of Directors
determines in good faith that such activities conflict with the Executive's
performance of his duties hereunder, the Executive shall promptly cease such
activities to the extent as directed by the Board of Directors. It is
acknowledged and agreed that such description shall be made regarding any such
activities in which the Executive owns more than 5% of the ownership of the
organization or which may be in violation of Section 5 hereof, and that the
failure of the Executive to provide any such description shall enable the
Company to terminate the Executive for Cause (as provided in Section 6(c)
hereof). The Company agrees to hold any such information provided by the
Executive confidential and not disclose the same to any person other than a
person to whom disclosure is reasonably necessary or appropriate in light of the
circumstances. In addition, the Executive agrees to serve without additional
compensation if elected or appointed to any office or position, including as a
director, of the Company or any subsidiary or affiliate of the Company;
provided, however, that the Executive shall be entitled to receive such benefits
and additional compensation, if any, that is paid to executive officers of the
Company in connection with such service.

         2. TERM. Subject to the terms and conditions of this Agreement,
including, but not limited to, the provisions for termination set forth in
Section 6 hereof, the employment of the Executive under this Agreement shall
commence on the effective date hereof and shall continue through and including
the close of business on the date hereof as set forth on Exhibit A attached
hereto and incorporated herein (such term shall herein be defined as the
"Term"). The Executive agrees that some portions of this Agreement, including
Sections 4, 5, and 6 hereof, will remain in force after the termination of this
Agreement.

         3. COMPENSATION.

            (a) Base Salary and Bonus. As compensation for the Executive's
services under this Agreement, the Executive shall receive and the Company shall
pay a weekly base salary set forth on Exhibit A. Such base salary may be
increased but not decreased during the Term in the Company's discretion based
upon the Executive's performance and any other factors the Company deems
relevant. Such base salary shall be payable in accordance with the policy then
prevailing for the Company's executives. In addition to such base salary, the
Executive shall be entitled during the Term to a performance bonus set forth on
Exhibit A and to participate in and receive payments from, at the Company's
election, other bonus and other incentive compensation plans, if any, as may be
adopted by the Company.

            (b) Payments. All amounts paid pursuant to this Agreement shall be
subject to withholding or deduction by reason of the Federal Insurance
Contribution Act, federal income tax, state and local income tax, if any, and
comparable laws and regulations.

            (c) Other Benefits. The Executive shall be reimbursed by the Company
for all reasonable and customary travel and other business expenses incurred by
the Executive in the performance of the Executive's duties hereunder in
accordance with the Company's standard policy regarding expense verification
practices. The Executive shall be entitled to that number of weeks paid vacation
per year that is available to other executive officers of the Company in
accordance with the Company's standard policy regarding vacations and such other
fringe benefits as may be set forth on Exhibit A and shall be eligible to
participate in such pension, life insurance, health insurance, disability
insurance, and other executive benefits plans, if any, which the Company may
from time to time make available to its executive officers generally.
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         4. CONFIDENTIAL INFORMATION.

            (a) The Executive has acquired and will acquire information and
knowledge respecting the intimate and confidential affairs of the Company,
including, without limitation, confidential information with respect to the
Company's technical data, research and development projects, methods, products,
software, financial data, business plans, financial plans, customer lists,
business methodology, processes, production methods and techniques, promotional
materials and information, and other similar matters treated by the Company as
confidential (the "Confidential Information"). Accordingly, the Executive
covenants and agrees that during the Executive's employment by the Company
(whether during the Term hereof or otherwise) and thereafter, the Executive
shall not, without the prior written consent of the Company, disclose to any
person, other than a person to whom disclosure is reasonably necessary or
appropriate in connection with the performance by the Executive of the
Executive's duties hereunder, any Confidential Information obtained by the
Executive while in the employ of the Company.

            (b) The Executive agrees that all memoranda; notes; records; papers
or other documents; computer disks; computer, video or audio tapes; CD-ROMs; all
other media and all copies thereof relating to the Company's operations or
business, some of which may be prepared by the Executive; and all objects
associated therewith in any way obtained by the Executive shall be the Company's
property. This shall include, but is not limited to, documents; computer disks;
computer, video and audio tapes; CD-ROMs; all other media and objects concerning
any technical data, methods, products, software, research and development
projects, financial data, financial plans, business plans, customer lists,
contracts, price lists, manuals, mailing lists, advertising materials; and all
other materials and records of any kind that may be in the Executive's
possession or under the Executive's control. The Executive shall not, except for
the Company's use, copy or duplicate any of the aforementioned documents or
objects, nor remove them from the Company's facilities, nor use any information
concerning them except for the Company's benefit, either during the Executive's
employment or thereafter. The Executive covenants and agrees that the Executive
will deliver all of the aforementioned documents and objects, if any, that may
be in the Executive's possession to the Company upon termination of the
Executive's employment, or at any other time at the Company's request.

            (c) In any action to enforce or challenge these Confidential
Information provisions, the prevailing party is entitled to recover its
attorney's fees and costs.

         5. COVENANT NOT-TO-COMPETE AND NO SOLICITATION. Executive recognizes
that the Company is in the business of employing individuals to provide
specialized and technical services to the Company's Clients. The purpose of
these Covenant Not-to-Compete and No Solicitation provisions are to protect the
relationship which exists between the Company and its Client while Executive is
employed and after Executive leaves the employ of the Company. The consideration
for these Covenant Not-to-Compete and No Solicitation provisions is the
Executive's employment with the Company.

            (a) Executive acknowledges the following:

                  (1) The Company expended considerable resources in obtaining
         contracts with its Clients;

                  (2) The Company expended considerable resources to recruit and
         hire employees who could perform services for its Clients;

                  (3) Through his/her employ with the Company, Executive will
         develop a substantial relationship with the Company's existing or
         potential Clients, including, but not limited to, being the sole or
         primary contact between the Client and the Company;

                  (4) Executive will be exposed to valuable confidential
         business information about the Company, its Clients, and the Company's
         relationship with its Client;

                  (5) By providing services on behalf of the Company, Executive
         will develop and enhance the valuable business relationship between the
         Company and its Client;

                  (6) The relationship between the Company and its Client
         depends on the quality and quantity of the services Executive performs;

                  (7) Through employment with the Company, Executive will
         increase his/her opportunity to work directly for the Client or for a
         competitor of the Company; and

                  (8) The Company will suffer irreparable harm if Executive
         breaches these Covenant Not-to-Compete and No Solicitation provisions
         of this Agreement.

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            (b) Executive agrees that:

                  (1) The relationship between the Company and its Client
         (developed and enhanced when the Executive performs services on behalf
         of the Company) is a legitimate business interest for the Company to
         protect;

                  (2) The Company's legitimate business interest is protected by
         the existence and enforcement of these Covenant Not-to-Compete and No
         Solicitation provisions;

                  (3) The business relationship which is created or exists
         between the Company and its Client, or the goodwill resulting from it,
         is a business asset of the Company and not the Executive; and

                  (4) Executive will not seek to take advantage of opportunities
         which result from his/her employment with the Company and that entering
         into the Agreement containing Covenant Not-to-Compete and No
         Solicitation provisions is reasonable to protect the Company's business
         relationship with its Clients.

            (c) Restrictions on Executive. During the term of this Agreement and
for a period of time set forth on Exhibit A after the termination of this
Agreement, for whatever reason, whether such termination was by the Company or
the Executive, voluntarily or involuntarily, and whether with or without cause,
Executive agrees that he/she shall not, as a principal, employer, stockholder,
partner, agent, consultant, independent contractor, employee, or in any other
individual or representative capacity:

                  (1) Directly or indirectly engage in, continue in, or carry on
         the business of the Company or any business substantially similar
         thereto, including owning or controlling any financial interest in any
         corporation, partnership, firm, or other form of business organization
         which competes with or is engaged in or carries on any aspect of such
         business or any business substantially similar thereto;

                  (2) Consult with, advise, or assist in any way, whether or not
         for consideration, any corporation, partnership, firm, or other
         business organization which is now, becomes, or may become a competitor
         of the Company in any aspect of the Company's business during the
         Executive's employment with the Company, including, but not limited to,
         advertising or otherwise endorsing the products of any such competitor
         or loaning money or rendering any other form of financial assistance to
         or engaging in any form of transaction whether or not on an arm's
         length basis with any such competitor;

                  (3) Provide or attempt to provide or solicit the opportunity
         to provide or advise others of the opportunity to provide any services
         of the type Executive performed for the Company or the Company's
         Clients (regardless of whether and how such services are to be
         compensated, whether on a salaried, time and materials, contingent
         compensation, or other basis) to or for the benefit of any Client (i)
         to which Executive has provided services in any capacity on behalf of
         the Company, or (ii) to which Executive has been introduced to or about
         which the Executive has received information through the Company or
         through any Client from which Executive has performed services in any
         capacity on behalf of the Company;

                  (4) Retain or attempt to retain, directly or indirectly, for
         itself or any other party, the services of any person, including any of
         the Company's employees, who were providing services to or on behalf of
         the Company while Executive was employed by the Company and to whom
         Executive has been introduced or about whom Executive has received
         information through Employer or through any Client for which Executive
         has performed services in any capacity on behalf of the Company;

                  (5) Engage in any practice, the purpose of which is to evade
         the provisions of this Agreement or to commit any act which is
         detrimental to the successful continuation of or which adversely
         affects the business or the Company; provided, however, that the
         foregoing shall not preclude the Executive's ownership of not more than
         2% of the equity securities registered under Section 12 of the
         Securities Exchange Act of 1934, as amended; or

                  (6) For purpose of these Covenant Not-to-Compete and No
         Solicitation provisions, Client includes any subsidiaries, affiliates,
         customers, and clients of the Company's Clients. The Executive agrees
         that the geographic scope of this Covenant Not-to-Compete shall extend
         to the geographic area where the Company's Clients conduct business at
         any time during the Term of this Agreement. For purposes of this
         Agreement, "Clients" means any person or entity to which the Company
         provides or has provided within a period of one (1) year prior to the
         Executive's termination of employment labor, materials or services for
         the furtherance of such entity's or person's business or any person or
         entity that within such period of one (1) year the Company has pursued
         or communicated with for the purpose of obtaining business for the
         Company.

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            (d) Enforcement. These Covenant Not-to-Compete and No Solicitation
provisions shall be construed and enforced under the laws of the State of
Florida. In the event of any breach of this Covenant Not-to-Compete, the
Executive recognizes that the remedies at law will be inadequate, and that in
addition to any relief at law which may be available to the Company for such
violation or breach and regardless of any other provision contained in this
Agreement, the Company shall be entitled to equitable remedies (including an
injunction) and such other relief as a court may grant after considering the
intent of this Section 5. It is further acknowledged and agreed that the
existence of any claim or cause of action on the part of the Executive against
the Company, whether arising from this Agreement or otherwise, shall in no way
constitute a defense to the enforcement of this Covenant Not-to-Compete, and the
duration of this Covenant Not-to-Compete shall be extended in an amount which
equals the time period during which the Executive is or has been in violation of
this Covenant Not-to-Compete. In the event a court of competent jurisdiction
determines that the provisions of this Covenant Not-to-Compete are excessively
broad as to duration, geographic scope, prohibited activities or otherwise, the
parties agree that this covenant shall be reduced or curtailed to the extent
necessary to render it enforceable.

            (e) In an action to enforce or challenge these Covenant
Not-to-Compete and No Solicitation provisions, the prevailing party is entitled
to recover its attorney's fees and costs.

            (f) By signing this Agreement, the Executive acknowledges that
he/she understands the effects of these Covenant Not-to-Compete and No
Solicitation provisions and agrees to abide by them.

         6. TERMINATION

            (a) Death. The Executive's employment hereunder shall terminate upon
his death.

            (b) Disability. If during the Term the Executive becomes physically
or mentally disabled in accordance with the terms and conditions of any
disability insurance policy covering the Executive, or, if due to such physical
or mental disability the Executive becomes unable for a period of more than six
(6) consecutive months to perform his duties hereunder on substantially a
full-time basis as determined by the Company in its sole reasonable discretion,
the Company may, at its option, terminate the Executive's employment hereunder
upon not less than thirty (30) days' written notice.

            (c) Cause. The Company may terminate the Executive's employment
hereunder for Cause effective immediately upon notice. For purposes of this
Agreement, the Company shall have "Cause" to terminate the Executive's
employment hereunder: (i) if the Executive engages in conduct which has caused
or is reasonably likely to cause demonstrable and serious injury to Company;
(ii) if the Executive is convicted of a felony as evidenced by a binding and
final judgment, order, or decree of a court of competent jurisdiction; (iii) for
the Executive's neglect of his duties hereunder or the Executive's refusal to
perform his duties or responsibilities hereunder as determined by the Company's
Board of Directors in good faith; (iv) consistent failure to achieve goals
established by the Board of Directors or their designate; (v) gross
incompetence; (vi) for the Executive's violation of this Agreement, including,
without limitation, Section 5 hereof; (vii) chronic absenteeism; (viii) for use
of illegal drugs; (ix) insobriety by the Executive while performing his or her
duties hereunder; and (x) for any act of dishonesty or falsification of reports,
records, or information submitted by the Executive to the Company.

            (d) Non-Compete Payment and Liquidated Damages. In the event of a
termination of the Executive's employment pursuant to Section 6 or by the
Executive, all payments and Company benefits to the Executive hereunder, except
the payments (if any) provided below, shall immediately cease and terminate. In
the event of a termination by the Company of the Executive's employment with the
Company for any reason other than pursuant to Section 6(c), the Company shall
pay the Executive Liquidated Damages as defined in (e) below for early
termination of his employment and the Covenant Not-to-Compete set forth in
Section 5 hereof shall remain in full force and effect through the full stated
Term of this Agreement; and additionally, from the end of the Term of this
Agreement through the non-compete period stated on Exhibit "A", the Company
shall pay the Executive Not-to-Compete pay in equal biweekly installments
("Non-Compete Payment Installments") in the amount set forth on Exhibit A
("Non-Compete Payment"). Such Non-Compete Payment, however, shall not be
required to be paid by the Company if the Company elects, in its sole
discretion, to release the Executive from the Covenant Not-to-Compete set forth
in Section 5 hereof. Additionally, if the Company commences paying Executive
Non-Compete Payment Installments and subsequently elects in the future, in its
sole discretion, to release Executive from the Covenant Not-to-Compete and gives
notice to Executive, then, at the effective date of such notice, Executive shall
no longer be subject to the Covenant Not-to-Compete, and no further Non-Compete
Payment Installments shall be due or payable to Executive. If the Company
terminates the Executive's employment pursuant to Section 6(c) or the Executive
terminates such employment, the Executive shall not be entitled to the
Non-Compete Payment, and the Covenant Not-to-Compete set forth in Section 5
hereof shall remain in full force and effect. Notwithstanding anything to the
contrary herein contained, the Executive shall receive all compensation and
other benefits to which he was entitled under this Agreement or otherwise as an
executive of the Company through the termination date.

            (e) The Liquidated Damages amount, if due as provided above, shall
be equal to the weekly amount stated on Exhibit A times the number of weeks
remaining between the early termination date and the end of Term as stated on
Exhibit A ("Liquidated Damages"). This amount shall be paid biweekly in equal
installments over such period.
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         7. NOTICE. For purposes of this Agreement, notices and all other
communications provided for herein shall be in writing and shall be deemed to
have been duly given when hand-delivered, sent by telecopier, facsimile
transmission, or other electronic means of transmitting written documents (as
long as receipt is acknowledged) or mailed by United States certified or
registered mail, return receipt requested, postage prepaid, addressed as
follows:

            If to the Executive, to the address set forth on the signature page.

            If to the Company:        Sykes Enterprises, Incorporated
                                      100 North Tampa Street, Suite 3900
                                      Tampa, Florida 33602
                                      Attention: President

or to such other address as either party may have furnished to the other in
writing in accordance herewith, except that a notice of change of address shall
be effective only upon receipt.

         8. ENFORCEMENT, GOVERNING LAW, AND ATTORNEY'S FEES. It is stipulated
that a breach by Executive of the restrictive covenants set forth in Sections 4
and 5 of this Agreement will cause irreparable damage to Company or its Clients,
and that in the event of any breach of those provisions, Company is entitled to
injunctive relief restraining Executive from violating or continuing a violation
of the restrictive covenants as well as other remedies it may have.
Additionally, such covenants shall be enforceable against the Executive's
successors or assigns or by successor assigns.

            The validity, interpretation, construction, and performance of this
Agreement shall be governed by the internal laws of the State of Florida. Any
litigation to enforce this Agreement shall be brought in the state or federal
courts of Hillsborough County, Florida, which is the principal place of business
for Company and which is considered to be the place where this Agreement is
made. Both parties hereby consent to such courts' exercise of personal
jurisdiction over them.

            Except where required, to enforce the restrictive covenants
regarding Not-to-Compete, No Solicitation, and Confidential Information, as
provided in Sections 4 and 5 of this Agreement, Company and the Executive will
each pay their own attorney's fees and costs in the event Company or the
Executive must enforce any of the other rights granted to them, regardless of
the outcome of any action seeking to enforce rights under this Agreement.

         9. MISCELLANEOUS. No provision of this Agreement may be modified or
waived unless such waiver or modification is agreed to in writing signed by the
parties hereto; provided, however, that the terms of the performance bonus and
fringe benefits set forth or Exhibit A may be amended by the Company in its
discretion without the Executive's consent to the extent provided therein. No
waiver by any party hereto of any breach by any other party hereto shall be
deemed a waiver of any similar or dissimilar term or condition at the same or at
any prior or subsequent time. This Agreement is the entire agreement between the
parties hereto with respect to the Executive's employment by the Company and
there are no agreements or representations, oral or otherwise, expressed or
implied, with respect to or related to the employment of the Executive which are
not set forth in this Agreement. Any prior agreement relating to the Executive's
employment with the Company is hereby superseded and void, and is no longer in
effect. This Agreement shall be binding upon and inure to the benefit of the
Company, its respective successors and assigns, and the Executive and his heirs,
executors, administrators and legal representatives. Except as expressly set
forth herein, no party shall assign any of his or its rights under this
Agreement without the prior written consent of the other party and any attempted
assignment without such prior written consent shall be null and void and without
legal effect. The parties agree that if any provision of this Agreement shall
under any circumstances be deemed invalid or inoperative, the Agreement shall be
construed with the invalid or inoperative provision deleted and the rights and
obligations of the parties shall be construed and enforced accordingly. This
Agreement may be executed in one or more counterparts, each of which shall be
deemed to be an original but all of which together will constitute but one and
the same instrument. This Agreement has been negotiated and no party shall be
considered as being responsible for such drafting for the purpose of applying
any rule construing ambiguities against the drafter or otherwise.

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         IN WITNESS WHEREOF, the parties have executed this Agreement as of the
day and year first above written.

SYKES ENTERPRISES, INCORPORATED            EXECUTIVE

By: ___________________________________    _____________________________________
                                           Charles E. Sykes

                                           Address:

                                           _____________________________________

                                           _____________________________________

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                                                  Charles E. Sykes
                                                  Senior Vice President
                                                  Marketing and Global Alliances

                        EXHIBIT A TO EMPLOYMENT AGREEMENT

         This Exhibit A is attached to and made a part of that certain
Employment Agreement dated effective March 1, 2000, entered into by and between
Sykes Enterprises, Incorporated (the "Company") and Charles E. Sykes (the
"Executive," which supercedes and replaces that certain Employment Agreement
dated October 6, 1998 entered into by and between the Company and the Executive.

TERM:                         Two (2) Years, commencing March 1, 2000.

BASE SALARY                   $2,752.98 per week

PERFORMANCE BONUS:            0% to 50% of annual Base Salary (See Attachment I)

FRINGE BENEFITS:              Standard fringe benefits for executives

TERM OF COVENANT

NOT TO COMPETE:               12 months

NON-COMPETE PAYMENT:          $1,350.00 per week for 52 weeks

LIQUIDATED DAMAGES            $1,350.00 per week

THE COMPANY RESERVES THE RIGHT, AT ITS SOLE DISCRETION, AT SUCH TIME OR TIMES AS
IT ELECTS, TO CHANGE OR ELIMINATE BONUSES OR OTHER BENEFITS.

         IN WITNESS WHEREOF, the parties have executed this Exhibit A to the
Employment Agreement as of the ___ day of _____________, 2000.

SYKES ENTERPRISES, INCORPORATED              EXECUTIVE

By:________________________________          ___________________________________<PAGE>   1
                                                                   Exhibit 10.23

                         SYKES ENTERPRISES, INCORPORATED

                             2000 STOCK OPTION PLAN

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<TABLE>
<CAPTION>

                                                      TABLE OF CONTENTS

                                                                        Page
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<S>      <C>                                                            <C>

1.       PURPOSE OF PLAN...................................................2

2.       EFFECTIVE DATE....................................................2

3.       DEFINITIONS.......................................................2

4.       LIMITS ON OPTIONS.................................................4

5.       GRANTING OF OPTIONS...............................................5

6.       TERMS OF STOCK OPTIONS............................................5

7.       EFFECT OF CHANGES IN CAPITALIZATION...............................7

8.       DELIVERY AND PAYMENT FOR SHARES; REPLACEMENT OPTIONS..............8

9.       NO CONTINUATION OF EMPLOYMENT AND DISCLAIMER OF RIGHTS............9

10.      ADMINISTRATION....................................................9

11.      NO RESERVATION OF SHARES.........................................10

12.      AMENDMENT OF PLAN................................................10

13.      TERMINATION OF PLAN..............................................11

14.      LEGAL CONSTRUCTION...............................................11

</TABLE>

                                     - 1-
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                        SYKES ENTERPRISES, INCORPORATED

                             2000 STOCK OPTION PLAN

1.       PURPOSE OF PLAN

         The purpose of this Plan is to enable Sykes Enterprises, Incorporated
(the "Company") and its Subsidiaries to compete successfully in attracting,
motivating and retaining Employees with outstanding abilities by making it
possible for them to purchase Shares on terms that will give them a direct and
continuing interest in the future success of the businesses of the Company and
its Subsidiaries and encourage them to remain in the employ of the Company or
one or more of its Subsidiaries. Each Option is intended to be an Incentive
Stock Option, except to the extent that (a) any such Option would exceed the
limitations set forth in Section 4.(c) hereof, and (b) for Options specifically
designated at the time of grant as not being Incentive Stock Options.

2.       EFFECTIVE DATE

         The Plan shall become effective on March 2, 2000, subject to approval
of the Plan by the Company's shareholders within twelve (12) months thereafter.
The grant of any Options under the Plan prior to such shareholder approval
shall be contingent upon such approval.

3.       DEFINITIONS

         For purposes of the Plan, except where the context clearly indicates
otherwise, the following terms shall have the meanings set forth below:

         (a)      "Board" means the Board of Directors of the Company.

         (b)      "Change of Control" means (i) the adoption of a plan of
                  reorganization, merger, share exchange or consolidation of
                  the Company with one or more other corporations or other
                  entities as a result of which the holders of the Shares as a
                  group would receive less than fifty percent (50%) of the
                  voting power of the capital stock or other interests of the
                  surviving or resulting corporation or entity; (ii) the
                  adoption of a plan of liquidation or the approval of the
                  dissolution of the Company; (iii) the approval by the Board
                  of an agreement providing for the sale or transfer (other
                  than as a security for obligations of the Company or any
                  Subsidiary) of substantially all of the assets of the
                  Company, other than a sale or transfer to an entity at least
                  seventy-five percent (75%) of the combined voting power of
                  the voting securities of which are owned by persons in
                  substantially the same proportions as their ownership of the
                  Company immediately prior to such sale; or (iv) the
                  acquisition of more than fifty percent (50%) of the
                  outstanding Shares by any person within the meaning of Rule

                                     - 2-
<PAGE>   4

                  13(d)(3) under the Exchange Act, if such acquisition is not
                  preceded by a prior expression of approval by the Board,
                  provided that the term "person" shall not include (A) the
                  Company or any of its Subsidiaries, (B) a trustee or other
                  fiduciary holding securities under an employee benefit plan
                  of the Company or a Subsidiary, (C) an underwriter
                  temporarily holding securities pursuant to an offering of
                  such securities, or (D) a corporation owned directly or
                  indirectly by the shareholders of the Company in
                  substantially the same proportions as their ownership of
                  stock in the Company.

         (c)      "Code" means the United States Internal Revenue Code of 1986,
                  as amended, or any successor statute thereto.

         (d)      "Committee" means the Committee described in Section 9
                  hereof.

         (e)      "Employee" means a person who is regularly employed on a
                  salary basis by the Company or any Subsidiary, including an
                  officer or director of the Company or any Subsidiary who is
                  also an employee of the Company or a Subsidiary.

         (f)      "Exchange Act" means the Securities Exchange Act of 1934, as
                  amended, or any successor statute thereto.

         (g)      "Fair Market Value" means, with respect to a Share, if the
                  Shares are then listed and traded on a registered national or
                  regional securities exchange, or quoted on The National
                  Association of Securities Dealers' Automated Quotation System
                  (including The Nasdaq Stock Market's National Market), the
                  average closing price of a Share on such exchange or
                  quotation system for the five trading days immediately
                  preceding the date of grant of an Option, or, if Fair Market
                  Value is used herein in connection with any event other than
                  the grant of an Option, then such average closing price for
                  the five trading days immediately preceding the date of such
                  event. If the Shares are not traded on a registered
                  securities exchange or quoted in such a quotation system, the
                  Committee shall determine the Fair Market Value of a Share.

         (h)      "Incentive Stock Option" means an option granted under this
                  Plan and which is an incentive stock option within the
                  meaning of section 422 of the Code, or the corresponding
                  provision of any subsequently enacted tax statute.

         (i)      "Option" means an option granted under this Plan, whether or
                  not such option is an Incentive Stock Option.

         (j)      "Optionee" means any person who has been granted an Option
                  which Option has not expired or been fully exercised or
                  surrendered.

         (k)      "Plan" means the Company's 2000 Stock Option Plan.

                                     - 3-
<PAGE>   5

         (l)      "Rule 16b-3" means Rule 16b-3 promulgated pursuant to Section
                  16(b) of the Exchange Act, or any successor rule.

         (m)      "Share" means one share of voting common stock, par value
                  $.01 per share, of the Company, and such other stock or
                  securities that may be substituted therefor pursuant to
                  Section 6 hereof.

         (n)      "Subsidiary" means any "subsidiary corporation" within the
                  meaning of Section 424(f) of the Code.

4.       LIMITS ON OPTIONS

         (a)      The total number of Shares with respect to which Options may
                  be granted under the Plan shall not exceed in the aggregate
                  4,000,000 Shares, subject to adjustment as provided in
                  Section 7 hereof. If any Option expires, terminates or is
                  terminated for any reason prior to its exercise in full, the
                  Shares that were subject to the unexercised portion of such
                  Option shall be available for future grants under the Plan.
                  The Shares to be delivered under the Plan may consist in
                  whole or in part of authorized but unissued Shares or
                  treasury Shares.

         (b)      No Incentive Stock Option shall be granted to any Employee
                  who at the time such Option is granted, owns capital stock of
                  the Company possessing more than 10% of the total combined
                  voting power or value of all classes of capital stock of the
                  Company or any Subsidiary, determined in accordance with the
                  provisions of Section 422(b)(6) and 424(d) of the Code,
                  unless the option price at the time such Incentive Stock
                  Option is granted is at least 110 percent (110%) of the Fair
                  Market Value of the Shares subject to the Incentive Stock
                  Option and such Incentive Stock Option is not exercisable by
                  its terms after the expiration of five (5) years from the
                  date of grant.

         (c)      An Incentive Stock Option shall be granted hereunder only to
                  the extent that the aggregate Fair Market Value (determined
                  at the time the Incentive Stock Option is granted) of the
                  Shares with respect to which such Incentive Stock Option and
                  any other "incentive stock option" (within the meaning of
                  Section 422 of the Code) are exercisable for the first time
                  by any Optionee during any calendar year (under the Plan and
                  all other plans of the Optionee's employer corporation and
                  its parent and subsidiary corporations within the meaning of
                  Section 422(d) of the Code) does not exceed $100,000. This
                  limitation shall be applied by taking Incentive Stock Options
                  and any such other "incentive stock options" into account in
                  the order in which such Incentive Stock Options and any such
                  other "incentive stock options" were granted.

         (d)      Except as otherwise determined by the Committee, no Optionee
                  shall, in any calendar year, be granted Options to purchase
                  more than 100,000 Shares. Options granted to the Optionee and
                  cancelled during the same calendar year

                                     - 4-
<PAGE>   6

                  shall continue to be counted against such maximum number of
                  Shares. In the event that the number of Options which may be
                  granted under the Plan is adjusted as provided in Section
                  7.(a), the above limit shall automatically be adjusted in the
                  same ratio.

5.       GRANTING OF OPTIONS

         The Committee is authorized to grant Options to Employees selected by
the Committee pursuant to the Plan beginning on the effective date. Subject to
the provisions of the Plan, the Committee shall have exclusive authority to
select the Employees to whom Options will be awarded under the Plan, to
determine the number of Shares to be included in such Options, to determine the
type of Option, and to determine such other terms and conditions of Options,
including terms and conditions which may be necessary to qualify Incentive
Stock Options as "incentive stock options" under Section 422 of the Code. The
date on which the Committee approves the grant of an Option shall be considered
the date on which such Option is granted, unless the Committee provides for a
specific date of grant which is subsequent to the date of such approval.

6.       TERMS OF STOCK OPTIONS

         Subject to Section 4 hereof and except as otherwise determined by the
Committee, the terms of Options granted under this Plan shall be as follows:

         (a)      The exercise price of each Share subject to an Option shall
                  be fixed by the Committee. Notwithstanding the prior
                  sentence, the option price of an Incentive Stock Option shall
                  be fixed by the Committee but shall in no event be less than
                  100% of the Fair Market Value of the Shares subject to such
                  Option.

         (b)      Options shall not be assignable or transferable by the
                  Optionee other than by will or by the laws of descent and
                  distribution except that the Optionee may, with the consent
                  of the Committee, transfer without consideration Options that
                  do not constitute Incentive Stock Options to the Optionee's
                  spouse, children or grandchildren (or to one or more trusts
                  for the benefit of any such family members or to one or more
                  partnerships in which any such family members are the only
                  partners). Except as provided herein, no Option, and no right
                  under any such Option, may be pledged, alienated, attached,
                  or otherwise encumbered, and any purported pledge,
                  alienation, attachment, or encumbrance thereof shall be void
                  and unenforceable against the Company.

         (c)      Each Option shall expire and all rights thereunder shall end
                  at the expiration of such period (which shall not be more
                  than ten (10) years) after the date on which it was granted
                  as shall be fixed by the Committee, subject in all cases to
                  earlier expiration as provided in subsections (d) and (e) of
                  this Section 6.

                                     - 5-
<PAGE>   7

         (d)      During the life of an Optionee, an Option shall be
                  exercisable only by such Optionee (or Optionee's permitted
                  assignee in the case of Options that do not constitute
                  Incentive Stock Options) and only within one (1) month after
                  the termination of the Optionee's employment with the Company
                  or a Subsidiary, other than by reason of the Optionee's
                  death, permanent disability or retirement with the consent of
                  the Company or a Subsidiary as provided in subsection (e) of
                  this Section 6, but only if and to the extent the Option was
                  exercisable immediately prior to such termination, and
                  subject to the provisions of subsection (c) of this Section
                  6. If the Optionee's employment is terminated for cause, or
                  the Optionee terminates his employment with the Company, all
                  Options theretofore granted and not yet exercised (whether or
                  not vested) shall terminate immediately on the date of
                  termination of employment. Cause shall have the meaning set
                  forth in any employment agreement then in effect between the
                  Optionee and the Company or any of its Subsidiaries, or if
                  the Optionee does not have any employment agreement, cause
                  shall mean (i) if the Optionee engages in conduct which has
                  caused, or is reasonably likely to cause, demonstrable and
                  serious injury to the Company, (ii) the material negligence
                  of, or failure to perform, the Optionee's duties to the
                  Company or (iii) if the Optionee is convicted of a felony or
                  a misdemeanor which substantially impairs the Optionee's
                  ability to perform his or her duties to the Company.

         (e)      If an Optionee: (i) dies while employed by the Company or a
                  Subsidiary or within the period when an Option could have
                  otherwise been exercised by the Optionee; (ii) terminates
                  employment with the Company or a Subsidiary by reason of the
                  "permanent and total disability" (within the meaning of
                  Section 22(e)(3) of the Code) of such Optionee; or (iii)
                  terminates employment with the Company or a Subsidiary as a
                  result of such Optionee's retirement, provided that the
                  Company or such Subsidiary has consented in writing to such
                  Optionee's retirement, then, in each such case, such
                  Optionee, or the duly authorized representatives of such
                  Optionee (or Optionee's permitted assignee in the case of
                  Options that do not constitute Incentive Stock Options),
                  shall have the right, at any time within three (3) months
                  after the death, disability or retirement of the Optionee, as
                  the case may be, and prior to the termination of the Option
                  pursuant to subsection (c) of this Section 6, to exercise any
                  Option to the extent such Option was exercisable by the
                  Optionee immediately prior to such Optionee's death,
                  disability or retirement. In the discretion of the Committee,
                  the three-month period referenced in the immediately
                  preceding sentence may be extended for a period of up to one
                  year.

         (f)      Subject to the foregoing terms and to such additional terms
                  regarding the exercise of an Option as the Committee may fix
                  at the time of grant, an Option may be exercised in whole at
                  one time or in part from time to time.

         (g)      Options granted pursuant to the Plan shall be evidenced by an
                  agreement in writing setting forth the material terms and
                  conditions of the grant, including,

                                     - 6-
<PAGE>   8

                  but not limited to, the number of Shares subject to options.
                  Option agreements covering Options need not contain similar
                  provisions; provided, however, that all such option
                  agreements shall comply with the terms of the Plan. No person
                  shall have any rights under any Option granted under the Plan
                  unless and until the Company and the Optionee to whom such
                  Option shall have been granted shall have executed and
                  delivered an option agreement. If there is any conflict
                  between the provisions of an option agreement and the terms
                  of the Plan, the terms of the Plan shall control.

         (h)      The Committee is authorized to modify, amend or waive any
                  conditions or other restrictions with respect to Options,
                  including conditions regarding the exercise of Options.

7.       EFFECT OF CHANGES IN CAPITALIZATION

         (a)      If the number of outstanding Shares is increased or decreased
                  or changed into or exchanged for a different number or kind
                  of shares or other securities of the Company by reason of any
                  recapitalization, reclassification, stock split, combination
                  of shares, exchange of shares, stock dividend or other
                  distribution payable in capital stock, or other increase or
                  decrease in such shares effected without receipt of
                  consideration by the Company, a proportionate and appropriate
                  adjustment shall be made by the Committee in (i) the
                  aggregate number of Shares subject to the Plan, (ii) the
                  maximum number of Shares for which Options may be granted to
                  any Employee during any calendar year, and (iii) the number
                  and kind of shares for which Options are outstanding, so that
                  the proportionate interest of the Optionee immediately
                  following such event shall, to the extent practicable, be the
                  same as immediately prior to such event. Any such adjustment
                  in outstanding Options shall not change the aggregate option
                  price payable with respect to Shares subject to the
                  unexercised portion of the Options outstanding but shall
                  include a corresponding proportionate adjustment in the
                  option price per Share.

         (b)      Subject to Section 7.(c) hereof, if the Company shall be the
                  surviving corporation in any reorganization, merger, share
                  exchange or consolidation of the Company with one or more
                  other corporations or other entities, any Option theretofore
                  granted shall pertain to and apply to the securities to which
                  a holder of the number of Shares subject to such Option would
                  have been entitled immediately following such reorganization,
                  merger, share exchange or consolidation, with a corresponding
                  proportionate adjustment of the option price per Share so
                  that the aggregate option price thereafter shall be the same
                  as the aggregate option price of the Shares remaining subject
                  to the Option immediately prior to such reorganization,
                  merger, share exchange or consolidation.

                                     - 7-
<PAGE>   9

         (c)      In the event of a Change of Control, any Option granted
                  hereunder shall become immediately exercisable in full,
                  subject to any appropriate adjustments in the number of
                  Shares subject to such Option and the option price,
                  regardless of any provision contained in the Plan or any
                  option agreement with respect thereto limiting the
                  exercisability of the Option for any length of time.
                  Notwithstanding the foregoing, if a successor corporation or
                  other entity as contemplated in clause (i) or (ii) of Section
                  3.(b) agrees to assume the outstanding Options or to
                  substitute substantially equivalent options, then the
                  outstanding Options issued hereunder shall not be immediately
                  exercisable, but shall remain exercisable in accordance with
                  the terms of the Plan and the applicable stock option
                  agreements.

         (d)      Adjustments under this Section 7 relating to Shares or
                  securities of the Company shall be made by the Committee,
                  whose determination in that respect shall be final and
                  conclusive. Options subject to grant or previously granted
                  under the Plan at the time of any event described in this
                  Section 7 shall be subject to only such adjustments as shall
                  be necessary to maintain the proportionate interest of the
                  options and preserve, without exceeding, the value of such
                  options. No fractional Shares or units of other securities
                  shall be issued pursuant to any such adjustment, and any
                  fractions resulting from any such adjustment shall be
                  eliminated in each case by rounding upward to the nearest
                  whole Share.

         (e)      The grant of an Option pursuant to the Plan shall not affect
                  or limit in any way the right or power of the Company to make
                  adjustments, reclassifications, reorganizations or changes of
                  its capital or business structure or to merge, consolidate,
                  dissolve or liquidate, or to sell or transfer all or any part
                  of its business or assets.

8.       DELIVERY AND PAYMENT FOR SHARES; REPLACEMENT OPTIONS

         (a)      No Shares shall be delivered upon the exercise of an Option
                  until the option price for the Shares acquired has been paid
                  in full. No Shares shall be issued or transferred under the
                  Plan unless and until all legal requirements applicable to
                  the issuance or transfer of such Shares have been complied
                  with to the satisfaction of the Committee and adequate
                  provision has been made by the Optionee for satisfying any
                  applicable federal, state or local income or other taxes
                  incurred by reason of the exercise of the Option. Any Shares
                  issued by the Company to an Optionee upon exercise of an
                  Option may be made only in strict compliance with and in
                  accordance with applicable state and federal securities laws.

         (b)      Payment of the option price for the Shares purchased pursuant
                  to the exercise of an Option and of any applicable
                  withholding taxes shall be made, as determined by the
                  Committee and set forth in the option agreement pertaining to
                  such

                                     - 8-
<PAGE>   10

                  Option: (i) in cash or by check payable to the order of the
                  Company; (ii) through the tender to the Company of Shares,
                  which Shares shall be valued, for purposes of determining the
                  extent to which the option price has been paid thereby, at
                  their Fair Market Value on the date of exercise; or (iii) by
                  a combination of the methods described in (a) and (b) hereof;
                  provided, however, that the Committee may in its discretion
                  impose and set forth in the option agreement pertaining to an
                  Option such limitations or prohibitions on the use of Shares
                  to exercise Options as it deems appropriate. The Committee
                  also may authorize payment in accordance with a cashless
                  exercise program under which, if so instructed by the
                  Optionee, Shares may be issued directly to the Optionee's
                  broker upon receipt of the option price in cash from the
                  broker.

         (c)      To the extent that the payment of the exercise price for the
                  Shares purchased pursuant to the exercise of an Option is
                  made with Shares as provided in Section 8.(b) hereof, then,
                  at the discretion of the Committee, the Optionee may be
                  granted a replacement Option under the Plan to purchase a
                  number of Shares equal to the number of Shares tendered as
                  permitted in Section 8.(b) hereof, with an exercise price per
                  Share equal to the Fair Market Value on the date of grant of
                  such replacement Option and with a term extending to the
                  expiration date of the original Option.

9.       NO CONTINUATION OF EMPLOYMENT AND DISCLAIMER OF RIGHTS

         No provision in the Plan or in any Option granted or option agreement
entered into pursuant to the Plan shall be construed to confer upon any
individual the right to remain in the employ of the Company or any Subsidiary,
or to interfere in any way with the right and authority of the Company or any
Subsidiary either to increase or decrease the compensation of any individual at
any time, or to terminate any employment or other relationship between any
individual and the Company or any Subsidiary. The Plan shall in no way be
interpreted to require the Company to transfer any amounts to a third party
trustee or otherwise hold any amounts in trust or escrow for payment to any
Optionee or beneficiary under the terms of the Plan. An Optionee shall have
none of the rights of a shareholder of the Company until all or some of the
Shares covered by an Option are fully paid and issued to such Optionee.

10.      ADMINISTRATION

         (a)      The Plan is intended to comply with Rule 16b-3 and Code
                  Section 162(m). Subject to the provisions of subsection (b)
                  of this Section 9, the Plan shall be administered by the
                  Committee which shall interpret the Plan and any option
                  agreements, and make all other determinations necessary or
                  advisable for the Plan's administration, including such rules
                  and regulations and procedures as it deems appropriate. The
                  Committee shall consist of not fewer than two members of the
                  Board each of whom shall qualify (at the time of appointment
                  to the Committee and during all periods of service on the
                  Committee) in all respects as a "non-employee director" as
                  defined in Rule 16b-3 and as an

                                     - 9-
<PAGE>   11

                  outside director as defined in Section 162(m) of the Code and
                  regulations thereunder. In the event of a disagreement as to
                  the interpretation of the Plan or any amendment hereto, any
                  option agreement or any rule, regulation or procedure
                  hereunder or as to any right or obligation arising from or
                  related to the Plan or any option agreement, the decision of
                  the Committee shall be final and binding upon all persons in
                  interest, including the Company, the Optionee and the
                  Company's shareholders. If at any time the Committee shall
                  not be in existence, the Plan shall be administered by the
                  Board and all references to the Committee herein shall be
                  deemed to include the Board.

         (b)      To the extent permitted by applicable law, the Committee may
                  delegate to one or more senior officers of the Company any or
                  all of the authority and responsibility of the Committee with
                  respect to the Plan, other than with respect to Optionees who
                  are subject to Section 16 of the Exchange Act. To the extent
                  that the Committee has delegated to one or more officers the
                  authority and responsibility of the Committee, all references
                  to the Committee herein shall include such one or more
                  officers.

         (c)      No member of the Committee or the Board, or any officer to
                  whom any authority or responsibility of the Committee has
                  been delegated, shall be liable for any action taken or
                  decision made, or any failure to take any action, in good
                  faith with respect to the Plan or any Option granted or
                  option agreement entered into hereunder.

11.      NO RESERVATION OF SHARES

         The Company shall be under no obligation to reserve or to retain in
its treasury any particular number of Shares in connection with its obligations
hereunder.

12.      AMENDMENT OF PLAN

         The Board, without further action by the shareholders, may amend this
Plan from time to time as it deems desirable and shall make any amendments
which may be required so that Options intended to be Incentive Stock Options
shall at all times continue to be Incentive Stock Options for purpose of the
Code; provided, however, that no amendment shall be made without shareholder
approval if such approval would be required to comply with Rule 16b-3 or the
Code.

                                     - 10-
<PAGE>   12

13.      TERMINATION OF PLAN

         This Plan shall terminate on March 2, 2010. The Board may, in its
discretion, suspend or terminate the Plan at any time prior to such date, but
such termination or suspension shall not adversely affect any right or
obligation with respect to any outstanding Option. Notwithstanding the
foregoing, to the extent set forth in the Plan, the authority of the Committee
to administer the Plan and option agreements, to amend any provision of an
option agreement and to waive any conditions or restrictions of any Option, and
the authority of the Board to amend the Plan, shall survive the termination of
the Plan.

14.      LEGAL CONSTRUCTION

         (a)      Requirements of Law. The granting of Options under the Plan
                  and the issuance of Shares in connection with an Option shall
                  be subject to all applicable laws, rules and regulations, and
                  to such approvals by any governmental agencies or national
                  securities exchanges as may be required.

         (b)      Governing Law. The Plan, and all agreements hereunder, shall
                  be construed in accordance with and governed by the laws of
                  the State of Florida.

         (c)      Severability. If any provision of the Plan or any option
                  agreement or any Option (i) is or becomes or is deemed to be
                  invalid, illegal or unenforceable in any jurisdiction, or as
                  to any person or award, or (ii) would disqualify the Plan,
                  any option agreement or any Option under any law deemed
                  applicable by the Committee, then such provision shall be
                  construed or deemed amended to conform to applicable laws, or
                  if it cannot be so construed or deemed amended without, in
                  the determination of the Committee, materially altering the
                  intent of the Plan, any option agreement or the Option, such
                  provision shall be stricken as to such jurisdiction, person
                  or Option, and the remainder of the Plan, any such option
                  agreement and any such Option shall remain in full force and
                  effect.

                                     - 11-

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