Document:

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Exhibit 10.37

                          EDGEWATER TECHNOLOGY, INC.

                  AMENDED AND RESTATED 1996 STOCK OPTION PLAN

SECTION 1.  PURPOSE.  The Plan (i) authorizes the Committee to provide to
Employees and Consultants of the Corporation and its Subsidiaries, who are in a
position to contribute materially to the long-term success of the Corporation,
with options to acquire Common Stock, par value $.01 per share, of the
Corporation, and (ii) provides for the automatic grant of options to Non-
Employee Directors of the Corporation in accordance with the terms specified
herein.  The Corporation believes that this incentive program will cause those
persons to increase their interest in the Corporation's welfare, and aid in
attracting and retaining Employees, Consultants and Directors of outstanding
ability.

SECTION 2.  DEFINITIONS.  Unless the context clearly indicates otherwise, the
following terms, when used in this Plan, shall have the meanings set forth in
this Section:

          (a)  "Board" shall mean the Board of Directors of the Corporation.

          (b)  A "Change in Control" shall be deemed to have occurred if:

               (i)    any person, other than the Corporation or an employee
          benefit plan of the Corporation, acquires directly or indirectly the
          Beneficial Ownership of any voting security of the Corporation and
          immediately after such acquisition such Person is, directly or
          indirectly, the Beneficial Owner of voting securities representing 50%
          or more of the total voting power of the then-outstanding voting
          securities of the Corporation;

               (ii)   the individuals (A) who, as of the closing date of the
          Initial Public Offering, constitute the Board (the "Original
          Directors") or (B) who thereafter are elected to the Board and whose
          election, or nomination for election, to the Board was approved by a
          vote of at least two-thirds (2/3) of the Original Directors then still
          in office (such directors becoming "Additional Original Directors"
          immediately following their election) or (C) who are elected to the
          Board and whose election, or nomination for election, to the Board was
          approved by a vote of at least two-thirds (2/3) of the Original
          Directors and Additional Original Directors then still in office (such
          directors also becoming "Additional Original Directors" immediately
          following their election)(such individuals being the "Continuing
          Directors"), cease for any reason to constitute a majority of the
          members of the Board;

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               (iii)  the stockholders of the Corporation shall approve a
          merger, consolidation, recapitalization, or reorganization of the
          Corporation, a reverse stock split of outstanding voting securities,
          or consummation of any such transaction if stockholder approval is not
          sought or obtained, other than any such transaction which would result
          in at least 75% of the total voting power represented by the voting
          securities of the surviving entity outstanding immediately after such
          transaction being Beneficially Owned by at least 75% of the holders of
          outstanding voting securities of the Corporation immediately prior to
          the transaction, with the voting power of each such continuing holder
          relative to other such continuing holders not substantially altered in
          the transaction; or

               (iv)   the stockholders of the Corporation shall approve a plan
          of complete liquidation of the Corporation or an agreement for the
          sale or disposition by the Corporation of all or a substantial portion
          of the Corporation's assets (i.e. 50% or more of the total assets of
          the Corporation).

          (c)  "Code" shall mean the Internal Revenue Code of 1986 as it may be
     amended from time to time.

          (d)  "Committee" shall mean the Board, or any committee of two or more
     Directors that may be designated by the Board to administer the Plan.  The
     Committee may be comprised of "non-employee directors" within the meaning
     of Rule 16b-3 under the Exchange Act and "outside directors" under section
     162(m) of the Code.

          (e)  "Consultant" shall mean (i) any person who is engaged to perform
     services for the Corporation or its Subsidiaries, other than as an Employee
     or Director, or (ii) any person who has agreed to become a consultant
     within the meaning of clause (i).

          (f)  "Control Person" shall mean any person who, as of the date of
     grant of an Option, owns (within the meaning of Section 422(b)(6) of the
     Code) stock possessing more than ten percent (10%) of the total combined
     voting power or value of all classes of stock of the Corporation or of any
     Parent or "subsidiary corporation" (within the meaning of Section 424(f) of
     the Code).

          (g)  "Corporation" shall mean Edgewater Technology, Inc., a Delaware
     corporation.

          (h)  "Director" shall mean any member of the Board.

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          (i)  "Employee" shall mean (i) any employee of the Corporation or its
     Subsidiaries (including Directors who are otherwise employed by the
     Corporation or its Subsidiaries), or (ii) any person who has agreed to
     become an employee within the meaning of clause (i).

          (j)  "Exchange Act" shall mean the Securities Exchange Act of 1934 as
     it may be amended from time to time.

          (k)  "Fair Market Value" of the Stock on a given date shall be based
     upon: (i) if the Stock is listed on a national securities exchange or
     quoted in an interdealer quotation system, the last sales price or, if
     unavailable, the average of the closing bid and asked prices per share of
     the Stock on such date (or, if there was no trading or quotation in the
     Stock on such date, on the next preceding date on which there was trading
     or quotation) as provided by one of such organizations; or (ii) if the
     Stock is not listed on a national securities exchange or quoted in an
     interdealer quotation system, as determined by the Board in good faith in
     its sole discretion, provided, however, that the "fair market value" of
     Stock on the date on which shares of Stock are first issued and sold
     pursuant to a registration statement filed with and declared effective by
     the Securities and Exchange Commission shall be the Initial Public Offering
     price of the shares so issued and sold, as set forth in the first
     prospectus used in such offering.

          (l)  "Grantee" shall mean a person granted an Option under the Plan.

          (m)  "Initial Public Offering" shall mean an initial public offering
     of shares of Stock in a firm commitment underwriting registered with the
     Securities and Exchange Commission in compliance with the provisions of the
     1933 Act.

          (n)  "ISO" shall mean an Option granted pursuant to the Plan to
     purchase shares of Stock and intended to qualify as an incentive stock
     option under Section 422 of the Code, as now or hereafter constituted.

          (o)  "1933 Act" shall mean the Securities Act of 1933, as amended.

          (p)  "Non-Employee Director" shall mean a Director of the Corporation
     who is not an Employee, and who was not an Employee at any time during the
     prior one [-]year period.

          (q)  "NQSO" shall mean an Option granted pursuant to the Plan to
     purchase shares of the Stock that are not ISOs.

          (r)  "Options" shall refer collectively to NQSOs and ISOs issued under
     and subject to the Plan.

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          (s)  "Parent" shall mean any parent corporation as defined in Section
     424(e) of the Code.

          (t)  "Plan" shall mean this Amended and Restated 1996 Stock Option
     Plan as set forth herein and as amended from time to time.

          (u)  "Stock" shall mean shares of the common stock of the Corporation.

          (v)  "Stock Option Agreement" shall mean a written agreement between
     the Corporation and the Grantee, or a certificate accepted by the Grantee,
     evidencing the grant of an Option hereunder and containing such terms and
     conditions, not inconsistent with the Plan, as the Committee shall approve.

          (w)  "Subsidiary" shall mean (i) any company (whether a corporation,
     partnership, joint venture or other entity) in which the Company owns,
     directly or indirectly, a majority of the shares of capital stock or other
     equity interest, or (ii) any entity which the Committee reasonably expects
     to become a subsidiary within the meaning of clause (i).

SECTION 3.  SHARES OF STOCK SUBJECT TO THE PLAN.  Subject to adjustment as
described in section 10, the total amount of Stock that may be subject to
outstanding Options, determined immediately after the grant of any Option, shall
not exceed 15% percent of the total number of shares of Stock outstanding.
Notwithstanding the foregoing, subject to adjustment as described in section 10,
the number of shares that may be delivered upon exercise of ISOs shall not
exceed 650,000.  For purposes of the foregoing limits, shares subject to Options
shall not be deemed delivered if such Options are forfeited, expire or otherwise
terminate without delivery of shares to the Grantee.  Any shares of Stock
delivered pursuant to an Option may consist, in whole or in part, of authorized
and unissued shares or treasury shares.

SECTION 4.  ADMINISTRATION OF THE PLAN.  The Plan shall be administered by the
Committee.  Subject to the express provisions of the Plan, the Committee shall
have the authority to interpret the Plan, to prescribe, amend and rescind rules
and regulations relating to the Plan, to determine the terms and provisions of
Stock Option Agreements thereunder and to make all other determinations
necessary or advisable for the administration of the Plan.  Any controversy or
claim arising out of or related to this Plan or the Options granted thereunder
shall be determined unilaterally by, and at the sole discretion of, the
Committee.  Any action of the Committee with respect to the Plan shall be final,
conclusive, and binding on all persons, including the Corporation, Subsidiaries
of the Corporation, Grantees, and any person claiming any rights under the Plan
from or through any Grantee and stockholders.  The express grant of any specific
power to the Committee, and the taking of any action by the Committee, shall not
be construed as limiting any power or authority of the Committee.  The Committee
may delegate to officers or managers of the Corporation or any Subsidiary the
authority, subject to such terms as the Committee shall determine, to perform
administrative

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functions to the extent permitted under Rule 16b-3, if applicable, Code section
162(m), and other applicable law.

SECTION 5.  TYPES OF OPTIONS.  Options granted under the Plan may be of two
types:  ISOs or NQSOs.  The Committee shall have the authority and discretion to
grant to an eligible Employee either ISOs, NQSOs or both, but shall clearly
designate the nature of each Option at the time of grant in the Stock Option
Agreement.

SECTION 6.  GRANT OF OPTIONS TO EMPLOYEES AND CONSULTANTS.

          (a)  Employees and Consultants of the Corporation and its Subsidiaries
     shall be eligible to receive Options under the Plan.  Grantees who are not
     employees of the Corporation or a "subsidiary corporation" (within the
     meaning of Section 424(f) of the Code) on the date an Option is granted
     shall only receive NQSOs.

          (b)  The exercise price per share of Stock subject to an Option
     granted to an Employee or Consultant shall be determined by the Committee
     and specified in the Stock Option Agreement, provided, however, that the
     exercise price of each share subject to an Option shall be not less than
     100%, or, in the case of an ISO granted to a Control Person, 110% of the
     Fair Market Value of a share of the Stock on the date such Option is
     granted.

          (c)  The term of each Option granted to an Employee or Consultant
     shall be determined by the Committee and specified in a Stock Option
     Agreement, provided that no Option shall be exercisable more than ten years
     from the date such Option is granted, and provided further that no ISO
     granted to a Control Person shall be exercisable more than five years from
     the date of the Option grant.

          (d)  The Committee shall determine and designate from time to time
     Employees or Consultants who are to be granted Options, and shall specify
     in the Stock Option Agreement the nature of each Option granted and the
     number of shares of Stock subject to each such Option, provided, however,
     that in any calendar year, no Employee or Consultant may be granted an
     Option to purchase more than 500,000 shares of Stock (determined without
     regard to when such Option is exercisable), subject to adjustment pursuant
     to Section 10.

          (e)  Notwithstanding any other provisions hereof, the aggregate Fair
     Market Value (determined at the time the ISO is granted) of the Stock with
     respect to which ISOs are exercisable for the first time by any Employee
     during any calendar year under all plans of the Corporation and any Parent
     or "subsidiary corporation" (within the meaning of Section 424(f) of the
     Code) shall not exceed $100,000.  To the extent the limitation set forth in
     the preceding sentence is exceeded, the Options with respect to such excess
     shall be treated as NQSOs.

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          (f)  The Committee shall determine whether any Option granted to an
     Employee or Consultant shall become exercisable in one or more installments
     and specify the installment dates in the Stock Option Agreement.  The
     Committee may also specify in the Stock Option Agreement such other
     provisions, not inconsistent with the terms of this Plan, as it may deem
     desirable, including such provisions as it may deem necessary to qualify
     any ISO under the provisions of Section 422 of the Code.  Unless otherwise
     determined by the Committee and specified in the Stock Option Agreement,
     all Options shall immediately become exercisable upon a Change in Control.

          (g)  All Options granted hereunder prior to the Initial Public
     Offering shall be conditional upon, and for all purposes hereunder, deemed
     granted upon, the Initial Public Offering.

          (h)  The Committee may, at any time, grant new or additional options
     to any eligible Employee or Consultant who has previously received Options
     under this Plan, or options under other plans, whether such prior Options
     or other options are still outstanding, have been exercised previously in
     whole or in part, or have been canceled. The exercise price of such new or
     additional Options may be established by the Committee, subject to Section
     6(b) hereof, without regard to such previously granted Options or other
     options.

SECTION 7.  GRANTS OF OPTIONS TO NON-EMPLOYEE DIRECTORS.

          (a)  Non-Employee Directors of the Corporation shall be eligible to
     receive Options under the Plan only pursuant to the provisions of this
     Section 7.  Each individual who agrees to become a Non-Employee Director
     after September 1, 1999 shall receive upon his or her first election to the
     Board, without the exercise of the discretion of any person, an NQSO under
     the Plan relating to the purchase of 20,000 shares of Stock at an exercise
     price per share equal to the Fair Market Value of one share of Stock as of
     the date of grant (an "Initial Grant"). Non-Employee Directors in office
     subsequent to the Initial Public Offering and prior to September 1, 1999,
     shall receive, as of the date of the first grant described in the preceding
     sentence, without the exercise of the discretion of any person, an NQSO
     under the Plan relating to the purchase of 10,000 shares of Stock at an
     exercise price equal to the Fair Market Value of one share of Stock at the
     date of grant.  On the day of each annual meeting of stockholders, each
     person who is a continuing Non-Employee Director (excluding any newly-
     elected Non-Employee Director entitled to receive an Initial Grant) shall
     receive, without the exercise of the discretion of any person, an NQSO
     under the Plan relating to the purchase of 5,000 shares of Stock. In the
     event that there are not sufficient shares available under this Plan to
     allow for the grant to each Non-Employee Director of an NQSO for the number
     of shares provided herein, each Non-Employee Director shall receive an NQSO
     for his pro rata share of the total number of shares of Stock available
     under the Plan.

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          (b)  The exercise price of each share of Stock subject to an Option
     granted to a Non-Employee Director shall equal the Fair Market Value of a
     share of Stock on the date such Option is granted.

          (c)  Each Option granted to a Non-Employee Director shall become
     exercisable in three equal installments on the date of grant and on each of
     the first two anniversaries of the date of grant, and shall have a term of
     five years from the date of grant. Notwithstanding the exercise period of
     any Option granted to a Non-Employee Director, all such Options shall
     immediately become exercisable upon a Change in Control.

SECTION 8.  EXERCISE OF OPTIONS.

          (a)  A Grantee or other permitted holder shall exercise an Option by
     delivery of written notice to the Corporation setting forth the number of
     shares with respect to which the Option is to be exercised, together with
     cash, certified check, bank draft, wire transfer, or postal or express
     money order payable to the order of the Corporation for an amount equal to
     the Option price of such shares and any income tax which may be required to
     be withheld as determined by the Committee pursuant to Section 12.  The
     Committee may, in its sole discretion, permit a Grantee to pay all or a
     portion of the exercise price by delivery of Stock or other property
     (including notes or other contractual obligations of Grantees to make
     payment on a deferred basis, such as through "cashless exercise"
     arrangements, to the extent permitted by applicable law), and the methods
     by which Stock will be delivered or deemed to be delivered to Grantees.

          (b)  Except as provided pursuant to section 9(a), no Option granted to
     an Employee or Consultant shall be exercised unless at the time of such
     exercise the Grantee is then: (i) an employee of the Company or a
     Subsidiary (determined with reference to Section 2(w)(i) only); or (ii) a
     Consultant (determined with reference to Section 2(e)(i) only) of the
     Corporation or a Subsidiary (determined with reference to Section 2(w)(i)
     only).

          (c)  Except as provided in Section 9(a), no Option granted to a Non-
     Employee Director shall be exercised unless at the time of such exercise
     the Grantee is then a Non-Employee Director.

SECTION 9.  EXERCISE OF OPTIONS UPON TERMINATION.

          (a)  Unless otherwise determined by the Committee, upon termination of
     a Grantee's employment with the Corporation and its Subsidiaries, such
     Grantee may exercise any Options during the three-month period following
     such termination of employment, but only to the extent such Option was
     exercisable immediately prior to such termination of employment.
     Notwithstanding the foregoing, if the Committee

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     determines that such termination is for cause, all Options held by the
     Grantee shall immediately terminate. In addition, all Options granted on
     the basis of clause (ii) of Section 2(e), Section 2(i) or Section 2(w)
     shall immediately terminate if the Committee determines, in its sole
     discretion, that the Consultant, Employee, or Subsidiary, as the case may
     be, will not become a Consultant, Employee or Subsidiary within the meaning
     of clause (i) of such Sections.

          (b)  Unless otherwise determined by the Committee and specified in the
     Stock Option Agreement, in no event shall any Option be exercisable for
     more than the maximum number of shares that the Grantee was entitled to
     purchase at the date of termination of the relationship with the
     Corporation and its Subsidiaries.

          (c)  The sale of any Subsidiary shall be treated as a termination of
     employment with respect to any Grantee employed by such Subsidiary.

          (d)  Subject to the foregoing, in the event of death, Options may be
     exercised by a Grantee's legal representative.  Options transferred
     pursuant to Section 14 may also be exercised by a permitted holder.

SECTION 10.  ADJUSTMENT UPON CHANGES IN CAPITALIZATION.  In the event any
dividend or other distribution (whether in the form of cash, Stock, or other
property), recapitalization, forward or reverse split, reorganization, merger,
consolidation, spin-off, combination, repurchase, or share exchange, or other
similar corporate transaction or event affects the Stock such that an adjustment
is appropriate in order to prevent dilution or enlargement of the rights of
Grantees under the Plan, then the Committee shall, in such manner as it may deem
equitable, adjust any or all of (i) the number and kind of shares of Stock
deemed to be available thereafter for grants of Options under Section 3, (ii)
the number and kind of shares of Stock that may be delivered or deliverable in
respect of outstanding Options, (iii) the number of shares with respect to which
Options may be granted to a given Grantee in the specified period as set forth
in Section 6(d), and (iv) the exercise price or, if deemed appropriate, the
Committee may make provision for a cash payment with respect to any conditions
of, and the criteria included in, Options (including, without limitation, cash
payments in exchange for an Option or substitution of Options using stock of a
successor or other entity) in recognition of unusual or nonrecurring events
(including, without limitation, events described in the preceding sentence)
affecting the Corporation or any Subsidiary or the financial statements of the
Corporation or any Subsidiary, or in response to changes in applicable laws,
regulations, or accounting principles.

SECTION 11.  RESTRICTIONS ON ISSUING SHARES.  The Corporation shall not be
obligated to deliver Stock upon the exercise or settlement of any Options or
take other actions under the Plan until the Corporation shall have determined
that applicable federal and state laws, rules, and regulations have been
complied with and such approvals of any regulatory or governmental agency have
been obtained and contractual obligations to which the Option may be subject
have been satisfied.  The Corporation, in its discretion, may postpone the

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issuance or delivery of Stock under any Option until completion of such stock
exchange listing or registration or qualification of such Stock or other
required action under any federal or state law, rule, or regulation as the
Corporation may consider appropriate, and may require any Grantee to make such
representations and furnish such information as it may consider appropriate in
connection with the issuance or delivery of Stock under the Plan.

SECTION 12.  TAX WITHHOLDING.  To the extent required by applicable federal,
state, local or foreign law, a Grantee shall make arrangements satisfactory to
the Company for the satisfaction of any withholding tax obligations that arise
by reason of an Option exercise or any sale of shares.  The Company shall not be
required to issue shares until such obligations are satisfied.  The Committee
may permit these obligations to be satisfied by having the Company withhold a
portion of the shares of the stock that otherwise would be issued to him or her
upon the exercise of the Option, or to the extent permitted, by tendering shares
previously acquired.  The Committee may also, upon the request of a Grantee
desiring to exercise an Option, direct the Company to lend the Grantee an amount
necessary to pay any federal and state income tax withholding requirements in
connection with such exercise, which loan may be forgiven over a three-year
period subject to continued service with the Company.

SECTION 13.  LOANS TO GRANTEES.  The Committee may, upon the request of a
Grantee, direct the Company to lend the Grantee an amount necessary to satisfy
the exercise price of any Option.  Such loan may be forgiven over a three-year
period subject to continued service with the Company.

SECTION 14.  TRANSFERABILITY.

          (a)  Except as provided below, no Option shall be subject to
     anticipation, sale, assignment, pledge, encumbrance, charge or transfer
     except by will or the laws of descent and distribution, and an Option shall
     be exercisable during the Grantee's lifetime only by the Grantee.

          (b)  Notwithstanding the foregoing, the Committee may provide, in a
     Stock Option Agreement, that the Grantee may transfer NQSOs to family
     members or other persons or entities according to such terms as the
     Committee may determine; provided that the Grantee receives no
     consideration for the transfer of the NQSO and the transferred NQSO shall
     continue to be subject to the same terms and conditions as were applicable
     to the NQSO immediately before the transfer.

SECTION 15.  NON-COMPETITION.  If the Grantee breaches any non-competition
agreement in effect with the Corporation or its Subsidiaries, all of the
Grantee's outstanding Options shall immediately terminate, and the Corporation
may require that the Grantee pay to the Corporation or its Subsidiaries (in
Stock or cash) an amount equal to any gain arising from the exercise of Options
during the forfeiture period.  The forfeiture period is the period beginning on
the date that is six months before the Grantee's termination of employment or
service with

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the Corporation and its Subsidiaries and ending upon the termination of such
non-competition agreement. The gain to be reimbursed is the amount by which the
Fair Market Value of the Stock on the date of the Committee's determination (or
the date of any earlier sale or other disposition of the Stock covered by the
Option, if greater) exceeds the exercise price of the Option.

SECTION 16.  GENERAL PROVISIONS.

          (a)  Each Option shall be evidenced by a Stock Option Agreement.  The
     terms and provisions of such Stock Option Agreements may vary among
     Grantees and among different Options granted to the same Grantee.

          (b)  The grant of an Option in any year shall not give the Grantee any
     right to similar grants in future years, any right to continue such
     Grantee's employment relationship with the Corporation or its Subsidiaries,
     or, until such Option is exercised and share certificates are issued, any
     rights as a stockholder of the Corporation.  All Grantees shall remain
     subject to discharge to the same extent as if the Plan were not in effect.

          (c)  No Grantee, and no beneficiary or other persons claiming under or
     through the Grantee shall have any right, title or interest by reason of
     any Option to any particular assets of the Corporation or its Subsidiaries,
     or any shares of Stock allocated or reserved for the purposes of the Plan
     or subject to any Option except as set forth herein.  The Corporation shall
     not be required to establish any fund or make any other segregation of
     assets to assure the payment of any Option.

          (d)  The issuance of shares of Stock to Grantees, their legal
     representatives or other permitted holders shall be subject to any
     applicable taxes and other laws or regulations of the United States or of
     any state having jurisdiction thereof.

SECTION 17.  AMENDMENT OR TERMINATION.  The Board may, at any time, alter,
amend, suspend, discontinue or terminate this Plan; provided, however, that no
such action shall adversely affect the rights of Grantees to Options previously
granted hereunder and, provided further, however, that any shareholder approval
necessary or desirable in order to comply with Section 162(m) or Section 422 of
the Code (or other applicable law or regulation) shall be obtained in the manner
required therein.  The Committee may waive any conditions or rights under, or
amend, alter, suspend, discontinue, or terminate, any Option theretofore granted
and any Stock Option Agreement relating thereto; provided, however, that,
without the consent of an affected Grantee, no such action may materially impair
the rights of such Grantee under such Option.  Upon termination of an Option,
the Committee may (i) require that Grantees surrender their outstanding Options
in exchange for a payment by the Corporation, in cash or Stock as determined by
the Committee, in an amount equal to the amount by which the then Fair Market
Value of the shares of Stock subject to the Grantee's unexercised Options
exceeds the exercise price of the Options, or (ii) after giving Grantees an

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opportunity to exercise their outstanding Options, terminate any or all
unexercised at such time as the Committee deems appropriate.

SECTION 18.  EFFECTIVE DATE OF PLAN.  This Plan is effective upon its initial
adoption by the Board and shall continue in effect until terminated by the
Board.  No ISO may be granted more than ten years after the adoption of the Plan
by the Board or approval of the Plan by the stockholders, whichever is earlier.

                                 - - - - - - - - - - - - - -

This Plan was amended and restated on August 31, 2000.

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                                                                    EXHIBIT 10.1

                                PROMISSORY NOTE

$2,000,000.00                                                      July 31, 2000

     FOR VALUE RECEIVED, on or before July 31, 2001 ("Maturity Date"), the
                                                      -------------
undersigned, DATA RETURN CORPORATION (hereinafter referred to as "Borrower"),
                                                                  --------
promises to pay to the order of BANK ONE, TEXAS, NATIONAL ASSOCIATION ("Bank")
                                                                        ----
at its offices in Dallas   County, Texas, at 1717 Main Street, Dallas, Texas
75201 the principal amount of TWO MILLION AND NO/100 DOLLARS ($2,000,000.00)

("Total Principal Amount"), or such amount less than the Total Principal Amount
------------------------
which is outstanding from time to time if the total amount outstanding under
this Promissory Note ("Note") is less than the Total Principal Amount, together
                       ----
with interest on such portion of the Total Principal Amount which has been
advanced to Borrower from the date advanced until paid at a fluctuating rate per
annum which shall from day to day be equal to the lesser of (a) the Maximum Rate
(as hereinafter defined), or (b) a rate ("Contract Rate"), calculated on the
                                          -------------
basis of the actual days elapsed but computed as if each year consisted of 360
days, equal to the Prime Rate, each change in the rate to be charged on this
Note to become effective without notice to Borrower on the effective date of
each change in the Maximum Rate or the Prime Rate, as the case may be; provided,
however, that if at any time the Contract Rate shall exceed the Maximum Rate,
thereby causing the interest on this Note to be limited to the Maximum Rate,
then any subsequent reduction in the Prime Rate shall not reduce the rate of
interest on this Note below the Maximum Rate until the total amount of interest
accrued on this Note equals the amount of interest which would have accrued on
this Note if the Contract Rate had at all times been in effect.

          The term "Prime Rate", as used herein, shall mean a rate per annum
                    ----------
equal to the prime rate of interest announced from time to time by Bank or its
parent (which is not necessarily the lowest rate charged to any customer),
changing when and as said prime rate changes.  The term "Maximum Rate," as used
                                                         ------------
herein, shall mean at the particular time in question the maximum rate of
interest which, under applicable law, may then be charged on this Note.  If such
maximum rate of interest changes after the date hereof and this Note provides
for a fluctuating rate of interest, the Maximum Rate shall be automatically
increased or decreased, as the case may be, without  notice to Borrower from
time to time as of the effective date of each change in such maximum rate.  If
applicable law ceases to provide for such a maximum rate of interest, the
Maximum Rate shall be equal to eighteen percent (18%) per annum.

     The principal of and all accrued but unpaid interest on this Note shall be
due and payable as follows:

     (a)  interest shall be due and payable monthly as it accrues, commencing
on the first day of September, 2000 and continuing on the same day of each
successive month thereafter during the term of this Note; and

     (b)  the outstanding principal balance of this Note, together with all
accrued but unpaid interest, shall be due and payable on the Maturity Date.

     If a payment is more than ten (10) days late, Borrower will pay a
delinquency charge in an amount equal to the greater of (i) 5.0% of the amount
of the delinquent payment up to the maximum amount of $250.00, or (ii) $25.00.
Upon an Event of Default, including failure to pay upon final maturity, Bank, at
its option, may also, if permitted under applicable law, do one or both of the
following: (a) increase the Contract Rate three (3.00) percentage points, and
(b) add any unpaid accrued interest to principal and such sum will bear interest
therefrom until paid at the rate provided in this Note (including any increased
Contract Rate).

     This Note evidences obligations and indebtedness from time to time owing by
Borrower to Bank pursuant to that certain Credit Agreement dated December 29,
1999 by and between Borrower and Bank (as amended, the "Credit Agreement"), and
                                                        ----------------
is secured by, inter alia, the following:
               ----- ----

     (a)  a Security Agreement dated December 29, 1999, by and between Borrower
and Bank, covering certain collateral as more particularly described therein;
and

     (b)  a Pledge Agreement dated December 29, 1999 between Borrower and Bank,
covering certain cash, cash equivalents and/or marketable securities as more
particularly described therein.

     This Note, the Credit Agreement and all other documents evidencing,
securing, governing, guaranteeing and/or pertaining to this Note, including but
not limited to those documents described above, are hereinafter collectively
referred to as the "Loan Documents."  The holder of this Note is entitled to the
                    --------------
benefits and security provided in the Loan Documents.

     Under the Credit Agreement, Borrower may request advances and make payments
hereunder from time to time, provided that it is understood and agreed that the
aggregate principal amount outstanding from time to time hereunder shall not at
any time exceed the Total Principal Amount.  The unpaid balance of this Note
shall increase and decrease with each new advance or payment hereunder, as the
case may be.  This Note shall not be deemed terminated or canceled prior to the
Maturity Date, although the entire principal balance hereof may from time to
time be paid in full.  Borrower may borrow, repay and reborrow hereunder.
Unless otherwise agreed to in writing, or otherwise required by applicable law,
payments will be applied first to unpaid accrued interest, then to principal,
and any remaining amount to any unpaid collection costs, delinquency charges and
other charges; provided, however, upon delinquency or other Event of Default,
Bank reserves the right to apply payments among principal, interest, delinquency
charges, collection costs and other charges, at its discretion.  All payments of
principal of or interest on this Note shall be made in lawful money of the
United States of America in immediately available funds, at the address of Bank
indicated above, or such other place as the holder of this Note shall designate
in writing to

PROMISSORY NOTE - Page 1
---------------
<PAGE>

Borrower. If any payment of principal of or interest on this Note shall become
due on a day which is not a Business Day (as hereinafter defined), such payment
shall be made on the next succeeding Business Day and any such extension of time
shall be included in computing interest in connection with such payment. As used
herein, the term "Business Day" shall mean any day other than a Saturday, Sunday
                  ------------
or any other day on which national banking associations are authorized to be
closed. The books and records of Bank shall be prima facie evidence of all
                                               -----------
outstanding principal of and accrued and unpaid interest on this Note.

     Borrower agrees that upon the occurrence of any one or more of the
following events of default ("Event of Default"):
                              ----------------

          (a)  failure of Borrower to pay any installment of principal of or
     interest on this Note or on any other indebtedness of Borrower to Bank when
     due; or

          (b)  the occurrence of any event of default specified in any of the
     other Loan Documents; or

          (c)  the bankruptcy or insolvency of, the assignment for the benefit
     of creditors by, or the appointment of a receiver for any of the property
     of, or the liquidation, termination, dissolution or death or legal
     incapacity of, any party liable for the payment of this Note, whether as
     maker, endorser, guarantor, surety or otherwise;

the holder of this Note may, at its option, without further notice or demand,
(i) declare the outstanding principal balance of and accrued but unpaid interest
on this Note at once due and payable, (ii) refuse to advance any additional
amounts under this Note, (iii) foreclose all liens securing payment hereof, (iv)
pursue any and all other rights, remedies and recourses available to the holder
hereof, including but not limited to any such rights, remedies or recourses
under the Loan Documents, at law or in equity, or (v) pursue any combination of
the foregoing.

     The failure to exercise the option to accelerate the maturity of this Note
or any other right, remedy or recourse available to the holder hereof upon the
occurrence of an Event of Default hereunder shall not constitute a waiver of the
right of the holder of this Note to exercise the same at that time or at any
subsequent time with respect to such Event of Default or any other Event of
Default.  The rights, remedies and recourses of the holder hereof, as provided
in this Note and in any of the other Loan Documents, shall be cumulative and
concurrent and may be pursued separately, successively or together as often as
occasion therefore shall arise, at the sole discretion of the holder hereof.
The acceptance by the holder hereof of any payment under this Note which is less
than the payment in full of all amounts due and payable at the time of such
payment shall not (i) constitute a waiver of or impair, reduce, release or
extinguish any right, remedy or recourse of the holder hereof, or nullify any
prior exercise of any such right, remedy or recourse, or (ii) impair, reduce,
release or extinguish the obligations of any party liable under any of the Loan
Documents as originally provided herein or therein.

     This Note and all of the other Loan Documents are intended to be performed
in accordance with, and only to the extent permitted by, all applicable usury
laws.  If any provision hereof or of any of the other Loan Documents or the
application thereof to any person or circumstance shall, for any reason and to
any extent, be invalid or unenforceable, neither the application of such
provision to any other person or circumstance nor the remainder of the
instrument in which such provision is contained shall be affected thereby and
shall be enforced to the greatest extent permitted by law.  It is expressly
stipulated and agreed to be the intent of the holder hereof to at all times
comply with the usury and other applicable laws now or hereafter governing the
interest payable on the indebtedness evidenced by this Note.  If the applicable
law is ever revised, repealed or judicially interpreted so as to render usurious
any amount called for under this Note or under any of the other Loan Documents,
or contracted for, charged, taken, reserved or received with respect to the
indebtedness evidenced by this Note, or if Bank's exercise of the option to
accelerate the maturity of this Note, or if any prepayment by Borrower results
in Borrower having paid any interest in excess of that permitted by law, then it
is the express intent of Borrower and Bank that all excess amounts theretofore
collected by Bank be credited on the principal balance of this Note (or, if this
Note and all other indebtedness arising under or pursuant to the other Loan
Documents have been paid in full, refunded to Borrower), and the provisions of
this Note and the other Loan Documents immediately be deemed reformed and the
amounts thereafter collectable hereunder and thereunder reduced, without the
necessity of the execution of any new document, so as to comply with the then
applicable law, but so as to permit the recovery of the fullest amount otherwise
called for hereunder or thereunder.  All sums paid, or agreed to be paid, by
Borrower for the use, forbearance, detention, taking, charging, receiving or
reserving of the indebtedness of Borrower to Bank under this Note or arising
under or pursuant to the other Loan Documents shall, to the maximum extent
permitted by applicable law, be amortized, prorated, allocated and spread
throughout the full term of such indebtedness until payment in full so that the
rate or amount of interest on account of such indebtedness does not exceed the
usury ceiling from time to time in effect and applicable to such indebtedness
for so long as such indebtedness is outstanding.  To the extent federal law
permits Bank to contract for, charge or receive a greater amount of interest,
Bank will rely on federal law instead of the Texas Finance Code for the purpose
of determining the Maximum Rate.  Additionally, to the maximum extent permitted
by applicable law now or hereafter in effect, Bank may, at its option and from
time to time, implement any other method of computing the Maximum Rate under the
Texas Finance Code or under other applicable law by giving notice, if required,
to Borrower as provided by applicable law now or hereafter in effect.
Notwithstanding anything to the contrary contained herein or in any of the other
Loan Documents, it is not the intention of Bank to accelerate the maturity of
any interest that has not accrued at the time of such acceleration or to collect
unearned interest at the time of such acceleration.

     In no event shall Chapter 346 of the Texas Finance Code (which regulates
certain revolving loan accounts and revolving tri-party accounts) apply to this
Note.  To the extent that Chapter 303 of the Texas Finance Code is applicable to
this Note, the "weekly ceiling" specified in Chapter 303 is the applicable
ceiling; provided that, if any applicable law permits greater interest, the law
permitting the greatest interest shall  apply.

PROMISSORY NOTE - Page 2
---------------
<PAGE>

     If this Note is placed in the hands of an attorney for collection, or is
collected in whole or in part by suit or through probate, bankruptcy or other
legal proceedings of any kind, Borrower agrees to pay, in addition to all other
sums payable hereunder, all costs and expenses of collection, including but not
limited to reasonable attorneys' fees.

     Borrower and any and all endorsers and guarantors of this Note severally
waive presentment for payment, notice of nonpayment, protest, demand, notice of
protest, notice of intent to accelerate, notice of acceleration and dishonor,
diligence in enforcement and indulgences of every kind and without further
notice hereby agree to renewals, extensions, exchanges or releases of
collateral, taking of additional collateral, indulgences or partial payments,
either before or after maturity.

     THIS NOTE HAS BEEN EXECUTED UNDER, AND SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF TEXAS, EXCEPT AS SUCH LAWS ARE
PREEMPTED BY APPLICABLE FEDERAL LAWS.

     This Note is given in renewal and extension, but not extinguishment, of all
amounts left owing and unpaid on that certain promissory note dated December 29,
1999 executed and delivered by Borrower and payable to the order of Bank in the
stated principal amount of $2,000,000.00.

                              BORROWER:

                              DATA RETURN CORPORATION

                              By:  /s/ Stuart A. Walker
                                   -----------------------------------------
                              Name:  Stuart A. Walker
                              Title: Senior Vice President - Chief Financial
                                      Officer

PROMISSORY NOTE - Page 3
---------------

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