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                                                                    Exhibit 10.2

                            MERLIN TECHNOLOGIES, INC.
                             2000 STOCK OPTION PLAN

     1.   PURPOSE.

     The purpose of this plan (the "Plan") is to secure for MERLIN TECHNOLOGIES,
INC (the "Company") and its shareholders the benefits arising from capital stock
ownership by employees, officers and directors of, and consultants or advisors
to, the Company and its Parent and subsidiary corporations who are expected to
contribute to the Company's future growth and success Except where the context
otherwise requires, the term "Company" shall include the parent and all present
and future subsidiaries of the Company as defined in Sections 424(e) and 424(f)
of the Internal Revenue Code of 1986, as amended or replaced from time to time
(the "Code"). Those provisions of the Plan which make express reference to
Section 422 shall apply only to Incentive Stock Options (as that term is defined
in the Plan).

     2.   TYPE OF OPTIONS AND ADMINISTRATION.

     (a) TYPES OF OPTIONS. Options granted pursuant to the Plan shall be
authorized by action of the Board of Directors of the Company (or a Committee
designated by the Board of Directors) and may be either incentive stock options
("Incentive Stock Options") meeting the requirements of Section 422 of the Code
or non-statutory options which are not intended to meet the requirements of
Section 422 of the Code.

     (b) ADMINISTRATION. The Plan will be administered by the Board of Directors
of the Company, whose construction and interpretation of the terms and
provisions of the Plan shall be final and conclusive. The Board of Directors may
in its sole discretion grant options to purchase shares of the common voting
stock with a par value of $0.01 of the Company ("Common Stock") and issue shares
upon exercise of such options as provided in the Plan. The Board shall have
authority, subject to the express provisions of the Plan, to construe the
respective option agreements and the Plan, to prescribe, amend and rescind rules
and regulations relating to the Plan, to determine the terms and provisions of
the respective option agreements, which need not be identical, and to make all
other determinations in the judgment of the Board of Directors necessary or
desirable for the administration of the Plan. The Board of Directors may correct
any defect or supply any omission or reconcile any inconsistency in the Plan or
in any option agreement in the manner and to the extent it shall deem expedient
to carry the Plan into effect and it shall be the sole and final judge of such
expediency. No director or person acting pursuant to authority delegated by the
Board of Directors shall be liable for any action or determination under the
Plan made in good faith. To the extent permitted by applicable law, the Board of
Directors may delegate any or all of its powers under the Plan to one or more
committees or subcommittees of the Board of Directors (a "Committee"). If and
when the Common Stock is registered under the Securities Exchange Act of 1934
(the "Exchange Act") the Board of Directors shall appoint one such Committee of
not less than two members, each member of which shall be an

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"outside director" within the meaning of Section 162(m) of the Code and a
"non-employee director" as defined in Rule 16b-3 promulgated under the Exchange
Act). All references in the Plan to the Board of Directors shall mean the Board
of Directors or a Committee of the Board of Directors to the extent that the
Board's powers or authority under the Plan have been delegated to such
Committee.

     3.   ELIGIBILITY.

     Options may be granted to persons who are, at the time of grant, employees,
officers or directors of, or consultants or advisors to, the Company; provided,
that the class of employees to whom Incentive Stock Options may be granted shall
be limited to all employees of the Company. A person who has been granted an
option may, if he or she is otherwise eligible, be granted additional options if
the Board of Directors shall so determine.

     4.   STOCK SUBJECT TO PLAN.

     Subject to adjustment as provided in Section 15 below, the maximum number
of shares of Common Stock of the Company which may be issued and sold under the
Plan is 1,000,000 shares. If an option granted under the Plan shall expire or
terminate for any reason without having been exercised in full, the unpurchased
shares subject to such option shall again be available for subsequent option
grants under the Plan. If shares issued upon exercise of an option under the
Plan are tendered to the Company in payment of the exercise price of an option
granted under the Plan, such tendered shares shall again be available for
subsequent option grants under the Plan; provided, that in no event shall such
shares be made available pursuant to exercise of Incentive Stock Options.

     5.   FORMS OF OPTION AGREEMENTS.

     As a condition to the grant of an option under the Plan, each recipient of
an option shall execute an option agreement in such form not inconsistent with
the Plan as may be approved by the Board of Directors. Such option agreements
may differ among recipients.

     6.   PURCHASE PRICE.

     (a) GENERAL. The purchase price per share of stock deliverable upon the
exercise of an option shall be determined by the Board of Directors, PROVIDED,
HOWEVER, that in the case of an Incentive Stock Option, the exercise price shall
not be less than 110% of the fair market value of such stock, as determined by
the Board of Directors, at the time of grant of such option, or less than 110%
of such fair market value in the case of options described in Section 11(b).

     (b) PAYMENT OF PURCHASE PRICE. Options granted under the Plan may provide
for the payment of the exercise price by delivery of cash or a check to the
order of the Company in an amount equal to the exercise price of such options,
or, to the extent

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provided in the applicable option agreement, (i) by delivery to the Company of
shares of Common Stock of the Company already owned by the optionee having a
fair market value equal in amount to the exercise price of the options being
exercised, (ii) by any other means (including, without limitation, by delivery
of a promissory note of the optionee payable on such terms as are specified by
the Board of Directors) which the Board of Directors determines are consistent
with the purpose of the Plan and with applicable laws and regulations
(including, without limitation, the provisions of Rule 16b-3 and Regulation T
promulgated by the Federal Reserve Board) or (iii) by any combination of such
methods of payment. The fair market value of any shares of the Company's Common
Stock or other non-cash consideration which may be delivered upon exercise of an
option shall be determined by the Board of Directors.

     7.   OPTION PERIOD

     Each option and all rights thereunder shall expire on such date as shall be
set forth in the applicable option agreement, except that, in the case of an
Incentive Stock Option, such date shall not be later than ten years after the
date on which the option is granted and, in all cases, options shall be subject
to earlier termination as provided in the Plan

     8    EXERCISE OF OPTIONS.

     Each option granted under the Plan shall be exercisable either in full or
in installments at such time or times and during such period as shall be set
forth in the agreement evidencing such option, subject to the provisions of the
Plan

     9    NONTRANSFERABILITY OF OPTIONS

     Except as the Board of Directors may otherwise determine or provide in an
option, options shall not be assignable or transferable by the person to whom
they are granted, either voluntarily or by operation of law, except by will or
the laws of descent and distribution, and, during the life of the optionee,
shall be exercisable only by the optionee; provided, however, that non-statutory
options may be transferred pursuant to a qualified domestic relations order (as
defined in Code Section 414 (p))

     10   EFFECT OF TERMINATION OF EMPLOYMENT OR OTHER RELATIONSHIP.

     Subject to the provisions of the Plan, the Board of Directors shall
determine the period of time during which an optionee may exercise an option
following (i) the termination of the optionee's employment or other relationship
with the Company or (ii) the death or disability of the optionee. Such periods
shall be set forth in the agreement evidencing such option

     11   INCENTIVE STOCK OPTIONS

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     Options granted under the Plan which are intended to be Incentive Stock
Options shall be subject to the following additional terms and conditions:

     (a) EXPRESS DESIGNATION. All Incentive Stock Options granted under the Plan
shall, at the time of grant, be specifically designated as such in the option
agreement covering such Incentive Stock Options

     (b) 10% SHAREHOLDER. If any employee to whom an Incentive Stock Option is
to be granted under the Plan is, at the time of the grant of such option, the
owner of stock possessing more than 10% of the total combined voting power of
all classes of stock of the Company (after taking into account the attribution
of stock ownership rules of Section 424(d) of the Code), then the following
special provisions shall be applicable to the Incentive Stock Option granted to
such individual:

          (i) the purchase price per share of the Common Stock subject to such
     Incentive Stock Option shall not be less than 110% of the fair market value
     of one share of Common Stock at the time of grant; and

          (ii) the option exercise period shall not exceed five years from the
     date of grant

     (c) DOLLAR LIMITATION. For so long as the Code shall so provide, options
granted to any employee under the Plan (and any other incentive stock option
plans of the Company) which are intended to constitute Incentive Stock Options
shall not constitute Incentive Stock Options to the extent that such options, in
the aggregate, become exercisable for the first time in any one calendar year
for shares of Common Stock with an aggregate fair market value (determined as of
the respective date or dates of grant) of more than $100,000

     (d) TERMINATION OF EMPLOYMENT, DEATH OR DISABILITY. No Incentive Stock
Option may be exercised unless, at the time of such exercise, the optionee is,
and has been continuously since the date of grant of his or her option, employed
by the Company, except that:

          (i) an Incentive Stock Option may be exercised within the period of
     three months after the date the optionee ceases to be an employee of the
     Company (or within such lesser period as may be specified in the applicable
     option agreement); provided, that the agreement with respect to such option
     may designate a longer exercise period and that the exercise after such
     three-month period shall be treated as the exercise of a non-statutory
     option under the Plan;

          (ii) if the optionee dies while in the employ of the Company, or
     within three months after the optionee ceases to be such an employee, the
     Incentive Stock Option may be exercised by the person to whom it is
     transferred by will or the laws of descent and distribution within the
     period of one year after the date of death (or

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     within such lesser period as may be specified in the applicable option
     agreement); and

          (iii) if the optionee becomes disabled (within the meaning of Section
     22(e) (3) of the Code or any successor provision thereto) while in the
     employ of the Company, the Incentive Stock Option may be exercised within
     the period of one year after the date the optionee ceases to be such an
     employee because of such disability (or within such lesser period as may be
     specified in the applicable option agreement).

     For all purposes of the Plan and any option granted hereunder, "employment"
shall be defined in accordance with the provisions of Section 1 421-7(h) of the
Income Tax Regulations (or any successor regulations). Notwithstanding the
foregoing provisions, no Incentive Stock Option may be exercised after its
expiration date.

     12.  ADDITIONAL PROVISIONS

     (a) ADDITIONAL OPTION PROVISIONS. The Board of Directors may, in its sole
discretion, include additional provisions in option agreements covering options
granted under the Plan, including without limitation, restrictions on transfer,
repurchase rights, commitments to pay cash bonuses, to make, arrange for or
guaranty loans or to transfer other property to optionees upon exercise of
options, or such other provisions as shall be determined by the Board of
Directors; provided that such additional provisions shall not be inconsistent
with any other term or condition of the Plan and such additional provisions
shall not cause any Incentive Stock Option granted under the Plan to fail to
qualify as an Incentive Stock Option within the meaning of Section 422 of the
Code

     (b) ACCELERATION, EXTENSION, ETC. The Board of Directors may, in its sole
discretion, (i) accelerate the date or dates on which all or any particular
option or options granted under the Plan may be exercised or (ii) extend the
dates during which all, or any particular, option or options granted under the
Plan may be exercised; provided, however, that no such extension shall be
permitted if it would cause the Plan to fail to comply with Section 422 of the
Code

     13   GENERAL RESTRICTIONS

     (a) INVESTMENT REPRESENTATIONS. The Company may require any person to whom
an option is granted, as a condition of exercising such option, to give written
assurances in substance and form satisfactory to the Company to the effect that
such person is acquiring the Common Stock subject to the option for his or her
own account for investment and not with any present intention of selling or
otherwise distributing the same, and to such other effects as the Company deems
necessary or appropriate in order to comply with federal and applicable state
securities laws, or with covenants or representations made by the Company in
connection with any public offering of its Common Stock.

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     (b) COMPLIANCE WITH SECURITIES LAWS. Each option shall be subject to the
requirement that if, at any time, counsel to the Company shall determine that
the listing, registration or qualification of the shares subject to such option
upon any securities exchange or under any state or federal law, or the consent
or approval of any governmental or regulatory body, or that the disclosure of
non-public information or the satisfaction of any other condition is necessary
as a condition of, or in connection with, the issuance or purchase of shares
thereunder, such option may not be exercised, in whole or in part, unless such
listing, registration, qualification, consent or approval, or satisfaction of
such condition shall have been effected or obtained on conditions acceptable to
the Board of Directors. Nothing herein shall be deemed to require the Company to
apply for or to obtain such listing, registration or qualification, or to
satisfy such condition.

     14.  RIGHTS AS A SHAREHOLDER.

     The holder of an option shall have no rights as a shareholder with respect
to any shares covered by the option (including, without limitation, any rights
to receive dividends or non-cash distributions with respect to such shares)
until the date of issue of a stock certificate to him or her for such shares. No
adjustment shall be made for dividends or other rights for which the record date
is prior to the date such stock certificate is issued.

     15   ADJUSTMENT PROVISIONS FOR RECAPITALIZATIONS AND RELATED TRANSACTIONS.

     (a) GENERAL. If, through or as a result of any merger, consolidation, sale
of all or substantially all of the assets of the Company, reorganization,
recapitalization, reclassification, stock dividend, stock split, reverse stock
split or other similar transaction, (i) the outstanding shares of Common Stock
are increased, decreased or exchanged for a different number or kind of shares
or other securities of the Company, or (ii) additional shares or new or
different shares or other securities of the Company or other non-cash assets are
distributed with respect to such shares of Common Stock or other securities, an
appropriate and proportionate adjustment shall be made in (x) the maximum number
and kind of shares reserved for issuance under the Plan, (y) the number and kind
of shares or other securities subject to any then outstanding options under the
Plan, and (z) the price for each share subject to any then outstanding options
under the Plan, without changing the aggregate purchase price as to which such
options remain exercisable. Notwithstanding the foregoing, no adjustment shall
be made pursuant to this Section 15 if such adjustment would cause the Plan to
fail to comply with Section 422 of the Code. If this Section 15 applies and
Section 16 also applies to any event, then Section 16 shall be applicable to
such event and this Section 15 shall not be applicable.

     (b) BOARD AUTHORITY TO MAKE ADJUSTMENTS. Any adjustments under this Section
15 will be made by the Board of Directors, whose determination as to what
adjustments, if any, will be made and the extent thereof will be final, binding
and conclusive. No fractional shares will be issued under the Plan on account of
any such adjustments.

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     16   MERGER, CONSOLIDATION, ASSET SALE, LIQUIDATION, ETC

     (a) GENERAL Subject to section 16(b), upon the occurrence of an Acquisition
Event (as defined below), or the execution by the Company of any agreement with
respect to an Acquisition Event, the Board of Directors shall take any one or
more of the following actions with respect to then outstanding options: (i)
provide that such options shall be assumed, or equivalent options shall be
substituted, by the acquiring or succeeding corporation (or an affiliate
thereof), provided that any such options substituted for Incentive Stock Options
shall meet the requirements of Section 424(a) of the Code; (ii) upon written
notice to the optionees, provide that all unexercised options will become
exercisable in full as of a specified time (the "Acceleration Time") prior to
the Acquisition Event and will terminate immediately prior to the consummation
of such Acquisition Event, except to the extent exercised by the optionees
between the Acceleration Time and the consummation of such Acquisition Event;
(iii) in the event of a merger under the terms of which holders of the Common
Stock of the Company will receive upon consummation thereof a cash payment for
each share surrendered in the merger (the "Merger Price"), make or provide for
a cash payment to the optionees equal to the difference between (A) the Merger
Price times the number of shares of Common Stock subject to such outstanding
options (whether or not then exercisable at prices not in excess of the Merger
Price) and (B) the aggregate exercise price of all such outstanding options in
exchange for the termination of such options; and (iv) provide that all or any
outstanding options shall become exercisable in full immediately prior to such
event. An "Acquisition Event" shall mean: (a) any merger or consolidation which
results in the voting securities of the Company outstanding immediately prior
thereto representing immediately thereafter (either by remaining outstanding or
by being converted into voting securities of the surviving or acquiring entity)
less than 50% of the combined voting power of the voting securities of the
Company or such surviving or acquiring entity outstanding immediately after such
merger or consolidation; (b) any sale of all or substantially all of the assets
of the Company; or (c) the complete liquidation of the Company.

     (b) SUBSTITUTE OPTIONS The Company may grant options under the Plan in
substitution for options held by employees of another corporation who become
employees of the Company, or a subsidiary of the Company, as the result of a
merger or consolidation of the employing corporation with the Company or a
subsidiary of the Company, or as a result of the acquisition by the Company, or
one of its subsidiaries, of property or stock of the employing corporation. The
Company may direct that substitute options be granted on such terms and
conditions as the Board of Directors considers appropriate in the circumstances.

     17   NO SPECIAL EMPLOYMENT RIGHT

     Nothing contained in the Plan or in any option shall confer upon any
optionee any right with respect to the continuation of his or her employment by
the Company or interfere

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in any way with the right of the Company at any time to terminate such
employment or to increase or decrease the compensation of the optionee.

     18   OTHER EMPLOYEE BENEFITS

     Except as to plans which by their terms include such amounts as
compensation, the amount of any compensation deemed to be received by an
employee as a result of the exercise of an option or the sale of shares received
upon such exercise will not constitute compensation with respect to which any
other employee benefits of such employee are determined, including, without
limitation, benefits under any bonus, pension, profit-sharing, life insurance or
salary continuation plan, except as otherwise specifically determined by the
Board of Directors.

     19   AMENDMENT OF THE PLAN

     (a) The Board of Directors may at any time, and from time to time, modify
or amend the Plan in any respect, except that if at any time the approval of the
shareholders of the Company is required under Section 422 of the Code or any
successor provision with respect to Incentive Stock Options, the Board of
Directors may not effect such modification or amendment without such approval.

     (b) The termination or any modification or amendment of the Plan shall not,
without the consent of an optionee, affect his or her rights under an option
previously granted to him or her. With the consent of the optionee affected, the
Board of Directors may amend outstanding option agreements in a manner not
inconsistent with the Plan. The Board of Directors shall have the right to amend
or modify the terms and provisions of the Plan and of any outstanding Incentive
Stock Options granted under the Plan to the extent necessary to qualify any or
all such options for such favorable federal income tax treatment (including
deferral of taxation upon exercise) as may be afforded incentive stock options
under Section 422 of the Code.

     20   WITHHOLDING

     (a) The Company shall have the right to deduct from payments of any kind
otherwise due to the optionee any federal, state or local taxes of any kind
required by law to be withheld with respect to any shares issued upon exercise
of options under the Plan. Subject to the prior approval of the Company, which
may be withheld by the Company in its sole discretion, the optionee may elect to
satisfy such obligations, in whole or in part, (i) by causing the Company to
withhold shares of Common Stock otherwise issuable pursuant to the exercise of
an option or (ii) by delivering to the Company shares of Common Stock already
owned by the optionee. The shares so delivered or withheld shall have a fair
market value equal to such withholding obligation. The fair market value of the
shares used to satisfy such withholding obligation shall be determined by the
Company as of the date that the amount of tax to be withheld is to be
determined. An optionee who has made an election pursuant to this Section 20(a)
may only satisfy his or her withholding obligation

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with shares of Common Stock which are not subject to any repurchase, forfeiture,
unfulfilled vesting or other similar requirements.

     21.  CANCELLATION AND NEW GRANT OF OPTIONS, ETC

     The Board of Directors shall have the authority to effect, at any time and
from time to time, with the consent of the affected optionees, (i) the
cancellation of any or all outstanding options under the Plan and the grant in
substitution therefor of new options under the Plan covering the same or
different numbers of shares of Common Stock and having an option exercise price
per share which may be lower or higher than the exercise price per share of the
canceled options, or (ii) the amendment of the terms of any and all outstanding
options under the Plan to provide an option exercise price per share which is
higher or lower than the then current exercise price per share of such
outstanding options

     22.  EFFECTIVE DATE AND DURATION OF THE PLAN

     (a) EFFECTIVE DATE. The Plan shall become effective as of 06-06-00, but no
Incentive Stock Option granted under the Plan shall become exercisable unless
and until the Plan shall have been approved by the Company's shareholders. If
such shareholder approval is not obtained within twelve months after the
effective date of the Plan, no options previously granted under the Plan shall
be deemed to be Incentive Stock Options and no Incentive Stock Options shall be
granted thereafter. Amendments to the Plan not requiring shareholder approval
shall become effective when adopted by the Board of Directors; amendments
requiring shareholder approval (as provided in Section 19) shall become
effective when adopted by the Board of Directors, but no Incentive Stock Option
granted after the date of such amendment shall become exercisable (to the extent
that such amendment to the Plan was required to enable the Company to grant such
Incentive Stock Option to a particular optionee) unless and until such amendment
shall have been approved by the Company's shareholders. If such shareholder
approval is not obtained within twelve months of the Board's adoption of such
amendment, any Incentive Stock Options granted on or after the date of such
amendment shall terminate to the extent that such amendment to the Plan was
required to enable the Company to grant such option to a particular optionee.
Subject to this limitation, options may be granted under the Plan at any time
after the effective date and before the date fixed for termination of the Plan

     (b) TERMINATION. Unless sooner terminated in accordance with Section 16,
the Plan shall terminate, with respect to Incentive Stock Options, upon the
earlier of (i) the close of business on the day next preceding the tenth
anniversary of the date of its adoption by the Board of Directors, or (ii) the
date on which all shares available for issuance under the Plan shall have been
issued pursuant to the exercise or cancellation of options granted under the
Plan. Unless sooner terminated in accordance with Section 16, the Plan shall
terminate with respect to options which are not Incentive Stock Options on the
date specified in (ii) above. If the date of termination is determined under (i)
above, then options outstanding on such date shall continue to have force and
effect in accordance with the provisions of the instruments evidencing such
options.

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     23.  PROVISION FOR FOREIGN PARTICIPANTS

     The Board of Directors may, without amending the Plan, modify awards or
options granted to participants who are foreign nationals or employed outside
the United States to recognize differences in laws, rules, regulations or
customs of such foreign jurisdictions with respect to tax, securities, currency,
employee benefit or other matters.

                                        MERLIN TECHNOLOGIES, INC

Date: May 4, 2001                       By: /s/ Gary P. Magnant
                                            ------------------------------------

                                       10<Page>

                                                                    Exhibit 10.3

                               ACTIVBIOTICS, INC.

                                 THIRD AMENDMENT
                                       TO
                           2001 EQUITY INCENTIVE PLAN

     This THIRD AMENDMENT (this "Amendment") to the 2001 Equity Incentive Plan
(the "Plan") of ActivBiotics, Inc., a Delaware corporation (the "Company"), is
being adopted at a meeting of the Board of Directors of the Company on April 27,
2005, and by the written consent of the stockholders of the Company dated as of
June ___, 2005 (the "Effective Date"). Effective from and after the Effective
Date, the Plan is hereby amended as follows:

     1. Section 4 of the Plan hereby is amended by replacing the number
"11,000,000" in the fourth (4th) line thereof with the number "15,139,062", said
amendment being for the purpose of increasing the total number of shares of
common stock, $0.01 par value per share, that may be subject to options granted
under the Plan from 11,000,000 shares to 15,139,062 shares.

     2. Except to the extent amended hereby, all of the terms, provisions and
conditions set forth in the Plan are hereby ratified and confirmed and shall
remain in full force and effect. The Plan and this Amendment, along with all
prior amendments to the Plan, shall be read and construed together as a single
instrument.

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                               ACTIVBIOTICS, INC.

                                SECOND AMENDMENT
                                       TO
                           2001 EQUITY INCENTIVE PLAN

     This SECOND AMENDMENT (this "Amendment") to the 2001 Equity Incentive Plan
(the "Plan") of ActivBiotics, Inc., a Delaware corporation (the "Company"), is
being adopted at a meeting of the Board of Directors of the Company on January
22, 2004, and by the written consent of the stockholders of the Company dated as
of January 22, 2004 (the "Effective Date"). Effective from and alter the
Effective Date, the Plan is hereby amended as follows:

     1. Section 4 of the Plan hereby is amended by replacing the number
"8,500,000" in the fourth (4th) line thereof with the number "11,000,000", said
amendment being for the purpose of increasing the total number of shares of
common stock, $0.01 par value per share, that may be subject to options granted
under the Plan from 8,500,000 shares to 11,000,000 shares.

     2. Except to the extent amended hereby, all of the terms, provisions and
conditions set forth in the Plan are hereby ratified and confirmed and shall
remain in full force and effect. The Plan and this Amendment, along with all
prior amendments to the Plan, shall be read and construed together as a single
instrument.

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                               ACTIVBIOTICS, INC.

                                 FIRST AMENDMENT
                                       TO
                           2001 EQUITY INCENTIVE PLAN

     This FIRST AMENDMENT (this "Amendment") to the 2001 Equity Incentive Plan
(the "Plan") of ActivBiotics, Inc., a Delaware corporation (the "Company"), is
being adopted by the written consent of the Board of Directors of the Company
dated as of April 30, 2003, and by the written consent of the stockholders of
the Company dated as of April 30, 2003 (the "Effective Date"). Effective from
and after the Effective Date, the Plan is hereby amended as follows:

     1. Section 4 of the Plan hereby is amended by replacing the number
"5,500,000" in the fourth (4th) line thereof with the number "8,500,000", said
amendment being for the purpose of increasing the total number of shares of
common stock, $0.01 par value per share, that may be subject to options granted
under the Plan from 5,500,000 shares to 8,500,000 shares.

     2. Except to the extent amended hereby, all of the terms, provisions and
conditions set forth in the Plan are hereby ratified and confirmed and shall
remain in full force and effect. The Plan and this Amendment, along with all
prior amendments to the Plan, shall be read and construed together as a single
instrument.

<Page>

                               ACTIVBIOTICS, INC.
                        (f/k/a Merlin Technologies, Inc.)

                           2001 EQUITY INCENTIVE PLAN

<Page>

                                TABLE OF CONTENTS

1.    Purpose                                                                  1
2     Definitions                                                              1
3.    Term of the Plan                                                         3
4.    Stock Subject to the Plan                                                3
5.    Administration                                                           3
6.    Authorization and Eligibility                                            4
7.    Specific Terms of Awards                                                 5
8.    Adjustment Provisions                                                    9
9.    Settlement of Awards                                                    10
10.   Reservation of Stock                                                    13
11.   No Special Employment or Other Rights                                   13
12.   Nonexclusivity of the Plan                                              13
13.   Termination and Amendment of the Plan                                   13
14.   Notices and Other Communications                                        14
15.   Governing Law                                                           14

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                               ACTIVBIOTICS, INC.
                        (f/k/a Merlin Technologies, Inc.)

                           2001 EQUITY INCENTIVE PLAN

     1. PURPOSE. This Plan is intended to encourage ownership of Common Stock by
employees, consultants and directors of ActivBiotics, Inc. (f/k/a Merlin
Technologies, Inc.) (the "Company") and its Affiliates and to provide additional
incentive for them to promote the success of the Company's business. The Plan is
intended to be an incentive stock option plan within the meaning of Section 422
of the Code, but not all Awards are required to be Incentive Options.

     2. DEFINITIONS. As used in this Plan, the following terms shall have the
following meanings:

     2.1. ACCELERATE, ACCELERATED, and ACCELERATION, when used with respect to
an Option, means that as of the time of reference the Option will become
exercisable with respect to some or all of the shares of Common Stock for which
it was not then otherwise exercisable by its terms, and, when used with respect
to Restricted Stock, means that the Risk of Forfeiture otherwise applicable to
the Stock shall expire with respect to some or all of the shares of Restricted
Stock then still otherwise subject to the Risk of Forfeiture.

     2.2. ACQUISITION means a merger or consolidation of the Company with or
into another person or the sale, transfer, or other disposition of all or
substantially all of the Company's assets to one or more other persons in a
single transaction or series of related transactions, unless securities
possessing more than 50% of the total combined voting power of the survivor's or
acquirer's outstanding securities (or the securities of any parent thereof) are
held by a person or persons who held securities possessing more than 50% of the
total combined voting power of the Company immediately prior to that
transaction.

     2.3. AFFILIATE means any corporation, partnership, limited liability
company, business trust, or other entity controlling, controlled by or under
common control with the Company.

     2.4. AWARD means any grant or sale pursuant to the Plan of Options,
Restricted Stock or Stock Grants.

     2.5. AWARD AGREEMENT means an agreement between the Company and the
recipient of an Award, setting forth the terms and conditions of the Award.

     2.6. BOARD means the Company's Board of Directors.

     2.7. CHANGE OF CONTROL means any of the following transactions:

          (a) any Acquisition, or

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                                        2

          (b) any person or group of persons (within the meaning of Section
13(d)(3) of the Securities Exchange Act of 1934, as amended and in effect from
time to time), other than the Company or an Affiliate, directly or indirectly
acquires beneficial ownership (determined pursuant to Securities and Exchange
Commission Rule 13d-3 promulgated under the said Exchange Act) of securities
possessing more than 50% of the total combined voting power of the Company's
outstanding securities pursuant to a tender or exchange offer made directly to
the Company's stockholders.

     2.8. CODE means the Internal Revenue Code of 1986, as amended from time to
time, or any successor statute thereto, and any regulations issued from time to
time thereunder.

     2.9. COMMITTEE means any committee of the Board delegated responsibility by
the Board for the administration of the Plan, as provided in Section 5 of the
Plan. For any period during which no such committee is in existence "Committee"
shall mean the Board and all authority and responsibility assigned to the
Committee under the Plan shall be exercised, if at all, by the Board.

     2.10. COMMON STOCK or STOCK means common stock, par value $0.01 per share,
of the Company.

     2.11. COMPANY means ActivBiotics, Inc. (f/k/a Merlin Technologies, Inc.), a
corporation organized under the laws of the State of Delaware.

     2.12. GRANT DATE means the date as of which an Option is granted, as
determined under Section 7.1(a).

     2.13. INCENTIVE OPTION means an Option which by its terms is to be treated
as an "incentive stock option" within the meaning of Section 422 of the Code.

     2.14. MARKET VALUE means the value of a share of Common Stock on any date
as determined by the Committee.

     2.15. NONSTATUTORY OPTION means any Option that is not an Incentive Option.

     2.16. OPTION means an option to purchase shares of Common Stock.

     2.17. OPTIONEE means a Participant to whom an Option shall have been
granted under the Plan.

     2.18. PARTICIPANT means any holder of an outstanding Award under the Plan.

     2.19. PLAN means this 2001 Equity Incentive Plan of the Company, as amended
from time to time, and including any attachments or addenda hereto.

     2.20. RESTRICTED STOCK means a grant or sale of shares of Common Stock to a
Participant subject to a Risk of Forfeiture.

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                                        3

     2.21. RESTRICTION PERIOD means the period of time, established by the
Committee in connection with an Award of Restricted Stock, during which the
shares of Restricted Stock are subject to a Risk of Forfeiture described in the
applicable Award Agreement.

     2.22. RISK OF FORFEITURE means a limitation on the right of the Participant
to retain Restricted Stock, including a right in the Company to reacquire the
Shares at less than their then Market Value, arising because of the occurrence
or non-occurrence of specified events or conditions.

     2.23. STOCK GRANT means the grant of shares of Common Stock not subject to
restrictions or other forfeiture conditions.

     2.24. STOCKHOLDERS' AGREEMENT means any agreement by and among the holders
of at least a majority of the outstanding voting securities of the Company and
setting forth, among other provisions, restrictions upon the transfer of shares
of Stock or on the exercise of rights appurtenant thereto (including but not
limited to voting rights).

     2.25. TEN PERCENT OWNER means a person who owns, or is deemed within the
meaning of Section 422(b)(6) of the Code to own, stock possessing more than 10%
of the total combined voting power of all classes of stock of the Company (or
any Affiliate). Whether a person is a Ten Percent Owner shall be determined with
respect to an Option based on the facts existing immediately prior to the Grant
Date of the Option.

     3. TERM OF THE PLAN. Unless the Plan shall have been earlier terminated by
the Board, Awards may be granted under this Plan at any time in the period
commencing on the date of approval of the Plan by the Board and ending
immediately prior to the tenth anniversary of the earlier of the adoption of the
Plan by the Board or approval of the Plan by the Company's stockholders. Awards
granted pursuant to the Plan within that period shall not expire solely by
reason of the termination of the Plan. Awards of Incentive Options granted prior
to stockholder approval of the Plan are expressly conditioned upon such
approval, but in the event of the failure of the stockholders to approve the
Plan shall thereafter and for all purposes be deemed to constitute Nonstatutory
Options.

     4. STOCK SUBJECT TO THE PLAN. At no time shall the number of shares of
Common Stock issued pursuant to or subject to outstanding Awards granted under
the Plan exceed 5,500,000 shares of Common Stock; SUBJECT, HOWEVER, to the
provisions of Section 8 of the Plan. For purposes of applying the foregoing
limitation, if any Option expires, terminates, or is cancelled for any reason
without having been exercised in full, or if any Award of Restricted Stock is
forfeited by the recipient, the shares not purchased by the Optionee or
forfeited by the recipient shall again be available for Awards to be granted
under the Plan. Shares of Common Stock issued pursuant to the Plan may be either
authorized but unissued shares or shares held by the Company in its treasury.

     5. ADMINISTRATION. The Plan shall be administered by the Committee;
PROVIDED, HOWEVER, that at any time and on any one or more occasions the Board
may itself exercise any of the powers and responsibilities assigned the
Committee under the

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                                        4

Plan and when so acting shall have the benefit of all of the provisions of the
Plan pertaining to the Committee's exercise of its authorities hereunder; and
PROVIDED FURTHER, HOWEVER, that the Committee may delegate to a director or
executive officer or officers the authority to grant Awards hereunder to
employees who are not officers, and to consultants, in accordance with such
guidelines as the Committee shall set forth at any time or from time to time.
Subject to the provisions of the Plan, the Committee shall have complete
authority, in its discretion, to make or to select the manner of making all
determinations with respect to each Award to be granted by the Company under the
Plan including the employee, consultant or director to receive the Award and the
form of Award. In making such determinations, the Committee may take into
account the nature of the services rendered by the respective employees,
consultants, and directors, their present and potential contributions to the
success of the Company and its Affiliates, and such other factors as the
Committee in its discretion shall deem relevant. Subject to the provisions of
the Plan, the Committee shall also have complete authority to interpret the
Plan, to prescribe, amend and rescind rules and regulations relating to it, to
determine the terms and provisions of the respective Award Agreements (which
need not be identical), and to make all other determinations necessary or
advisable for the administration of the Plan. The Committee's determinations
made in good faith on matters referred to in the Plan shall be final, binding
and conclusive on all persons having or claiming any interest under the Plan or
an Award made pursuant to hereto.

     6. AUTHORIZATION AND ELIGIBILITY. The Committee may grant from time to time
and at any time prior to the termination of the Plan one or more Awards, either
alone or in combination with any other Awards, to any employee of or consultant
to one or more of the Company and its Affiliates or to non-employee member of
the Board or of any board of directors (or similar governing authority) of any
Affiliate. However, only employees of the Company, and of any parent or
subsidiary corporations of the Company, as defined in Sections 424(e) and (f),
respectively, of the Code, shall be eligible for the grant of an Incentive
Option. Further, in no event shall the number of shares of Common Stock covered
by Options or other Awards granted to any one person in any one calendar year
exceed 25% of the aggregate number of shares of Common Stock subject to the
Plan.

     Each grant of an Award shall be subject to all applicable terms and
conditions of the Plan (including but not limited to any specific terms and
conditions applicable to that type of Award set out in the following Section),
and such other terms and conditions, not inconsistent with the terms of the
Plan, as the Committee may prescribe. No prospective Participant shall have any
rights with respect to an Award, unless and until such Participant has executed
an agreement evidencing the Award, delivered a fully executed copy thereof to
the Company, and otherwise complied with the applicable terms and conditions of
such Award.

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                                        5

     7. SPECIFIC TERMS OF AWARDS

     7.1. OPTIONS.

          (a) DATE OF GRANT. The granting of an Option shall take place at the
time specified in the Award Agreement. Only if expressly so provided in the
applicable Award Agreement shall the Grant Date be the date on which the Award
Agreement shall have been duly executed and delivered by the Company and the
Optionee.

          (b) EXERCISE PRICE. The price at which shares of Common Stock may be
acquired under each Incentive Option shall be not less than 100% of the Market
Value of Common Stock on the Grant Date, or not less than 110% of the Market
Value of Common Stock on the Grant Date if the Optionee is a Ten Percent Owner.
The price at which shares may be acquired under each Nonstatutory Option shall
not be so limited solely by reason of this Section.

          (c) OPTION PERIOD. No Incentive Option may be exercised on or after
the tenth anniversary of the Grant Date, or on or after the fifth anniversary of
the Grant Date if the Optionee is a Ten Percent Owner. The Option period under
each Nonstatutory Option shall not be so limited solely by reason of this
Section.

          (d) EXERCISABILITY. An Option may be immediately exercisable or become
exercisable in such installments, cumulative or non-cumulative, as the Committee
may determine. In the case of an Option not otherwise immediately exercisable in
full, the Committee may Accelerate such Option in whole or in part at any time;
PROVIDED, HOWEVER, that in the case of an Incentive Option, any such
Acceleration of the Option would not cause the Option to fail to comply with the
provisions of Section 422 of the Code or the Optionee consents to the
Acceleration.

          (e) TERMINATION OF ASSOCIATION WITH THE COMPANY. Unless the Committee
shall provide otherwise with respect to any Option, if the Optionee's employment
or other association with the Company and its Affiliates ends for any reason,
including because of the Optionee's employer ceasing to be an Affiliate, any
outstanding Option of the Optionee shall cease to be exercisable in any respect
not later than 90 days following that event and, for the period it remains
exercisable following that event, shall be exercisable only to the extent
exercisable at the date of that event. Military or sick leave or other bona fide
leave shall not be deemed a termination of employment or other association,
PROVIDED that it does not exceed the longer of ninety (90) days or the period
during which the absent Optionee's reemployment rights, if any, are guaranteed
by statute or by contract.

          (f) TRANSFERABILITY. Except as otherwise provided in this subsection
(f), Options shall not be transferable, and no Option or interest therein may be
sold, transferred, pledged, assigned, or otherwise alienated or hypothecated,
other than by will or by the laws of descent and distribution. All of a
Participant's rights in any Option may be exercised during the life of the
Participant only by the Participant or the Participant's legal representative.
However, the Committee may, at or after the grant of a

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                                        6

Nonstatutory Option, provide that such Option may be transferred by the
recipient to a family member; PROVIDED, HOWEVER, that any such transfer is
without payment of any consideration whatsoever and that no transfer of an
Option shall be valid unless first approved by the Committee, acting in its sole
discretion. For this purpose, "family member" means any child, stepchild,
grandchild, parent, stepparent, spouse, former spouse, sibling, niece, nephew,
mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or
sister-in-law, including adoptive relationships, any person sharing the
employee's household (other than a tenant or employee), a trust in which the
foregoing persons have more than fifty percent (50%) of the beneficial
interests, a foundation in which the foregoing persons (or the Participant)
control the management of assets, and any other entity in which these persons
(or the Participant) own more than fifty percent (50%) of the voting interests.

          (g) METHOD OF EXERCISE. An Option may be exercised by the Optionee
giving written notice, in the manner provided in Section 14, specifying the
number of shares with respect to which the Option is then being exercised. The
notice shall be accompanied by payment in the form of cash or check payable to
the order of the Company in an amount equal to the exercise price of the shares
to be purchased or, if the Committee had so authorized on the grant of an
Incentive Option or on or after grant of an Nonstatutory Option (and subject to
such conditions, if any, as the Committee may deem necessary to avoid adverse
accounting effects to the Company) by delivery to the Company of:

               (i) shares of Common Stock having a Market Value equal to the
     exercise price of the shares to be purchased, or

               (ii) the Optionee's executed promissory note in the principal
     amount equal to the exercise price of the shares to be purchased and
     otherwise in such form as the Committee shall have approved.

If the Stock is then currently traded on an established market, payment of any
exercise price may also be made through and under the terms and conditions of
any formal cashless exercise program authorized by the Company entailing the
sale of the Stock subject to an Option in a brokered transaction (other than to
the Company). Receipt by the Company of such notice and payment in any
authorized or combination of authorized means shall constitute the exercise of
the Option. Within thirty (30) days thereafter but subject to the remaining
provisions of the Plan, the Company shall deliver or cause to be delivered to
the Optionee or his agent a certificate or certificates for the number of shares
then being purchased. Such shares shall be fully paid and nonassessable.

          (h) LIMIT ON INCENTIVE OPTION CHARACTERIZATION. An Incentive Option
shall be considered to be an Incentive Option only to the extent that the number
of shares of Common Stock for which the Option first becomes exercisable in a
calendar year do not have an aggregate Market Value (as of the date of the grant
of the Option) in excess of the "current limit". The current limit for any
Optionee for any calendar year shall be $100,000 MINUS the aggregate Market
Value at the date of grant of the number of shares

<Page>

                                        7

of Common Stock available for purchase for the first time in the same year under
each other Incentive Option previously granted to the Optionee under the Plan,
and under each other incentive stock option previously granted to the Optionee
under any other incentive stock option plan of the Company and its Affiliates,
after December 31, 1986. Any shares of Common Stock which would cause the
foregoing limit to be violated shall be deemed to have been granted under a
separate Nonstatutory Option, otherwise identical in its terms to those of the
Incentive Option.

          (i) NOTIFICATION OF DISPOSITION. Each person exercising any Incentive
Option granted under the Plan shall be deemed to have covenanted with the
Company to report to the Company any disposition of such shares prior to the
expiration of the holding periods specified by Section 422(a)(1) of the Code
and, if and to the extent that the realization of income in such a disposition
imposes upon the Company federal, state, local or other withholding tax
requirements, or any such withholding is required to secure for the Company an
otherwise available tax deduction, to remit to the Company an amount in cash
sufficient to satisfy those requirements.

          (j) RIGHTS PENDING EXERCISE. No person holding an Option shall be
deemed for any purpose to be a stockholder of the Company with respect to any of
the shares of Stock issuable pursuant to his Option, except to the extent that
the Option shall have been exercised with respect thereto and, in addition, a
certificate shall have been issued therefor and delivered to such holder or his
agent.

     7.2. RESTRICTED STOCK.

          (a) PURCHASE PRICE. Shares of Restricted Stock shall be issued under
the Plan for such consideration, in cash, other property or services, or any
combination thereof, as is determined by the Committee.

          (b) ISSUANCE OF CERTIFICATES. Each Participant receiving a Restricted
Stock Award, subject to subsection (c) below, shall be issued a stock
certificate in respect of such shares of Restricted Stock. Such certificate
shall be registered in the name of such Participant, and, if applicable, shall
bear an appropriate legend referring to the terms, conditions, and restrictions
applicable to such Award substantially in the following form:

     The transferability of this certificate and the shares represented by this
     certificate are subject to the terms and conditions of the ActivBiotics,
     Inc. 2001 Equity Incentive Plan and an Award Agreement entered into by the
     registered owner and ActivBiotics, Inc. Copies of such Plan and Agreement
     are on file in the offices of ActivBiotics, Inc.

          (c) ESCROW OF SHARES. The Committee may require that the stock
certificates evidencing shares of Restricted Stock be held in custody by a
designated escrow agent (which may but need not be the Company) until the
restrictions thereon shall have lapsed, and that the Participant deliver a stock
power, endorsed in blank, relating to the Stock covered by such Award.

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                                        8

          (d) RESTRICTIONS AND RESTRICTION PERIOD. During the Restriction Period
applicable to shares of Restricted Stock, such shares shall be subject to
limitations on transferability and a Risk of Forfeiture arising on the basis of
such conditions related to the performance of services, Company or Affiliate
performance or otherwise as the Committee may determine and provide for in the
applicable Award Agreement. Any such Risk of Forfeiture may be waived or
terminated, or the Restriction Period shortened, at any time by the Committee on
such basis as it deems appropriate.

          (c) RIGHTS PENDING LAPSE OF RISK OF FORFEITURE OR FORFEITURE OF AWARD.
Except as otherwise provided in the Plan or the applicable Award Agreement, at
all times prior to lapse of any Risk of Forfeiture applicable to, or forfeiture
of, an Award of Restricted Stock, the Participant shall have all of the rights
of a stockholder of the Company, including the right to vote, and the right to
receive any dividends with respect to, the shares of Restricted Stock. The
Committee, as determined at the time of Award, may permit or require the payment
of cash dividends to be deferred and, if the Committee so determines, reinvested
in additional Restricted Stock to the extent shares are available under Section
4.

          (f) TERMINATION OF ASSOCIATION WITH THE COMPANY. Unless the Committee
shall provide otherwise for any Award of Restricted Stock, upon termination of a
Participant's employment or other association with the Company and its
Affiliates for any reason during the Restriction Period, including because of
the Participant's employer ceasing to be an Affiliate during the Restriction
Period, all shares of Restricted Stock still subject to Risk of Forfeiture shall
be forfeited or otherwise subject to return to or repurchase by the Company on
the terms specified in the Award Agreement; PROVIDED, HOWEVER, that military or
sick leave or other bona fide leave shall not be deemed a termination of
employment or other association, if it does not exceed the longer of ninety (90)
days or the period during which the absent Participant's reemployment rights, if
any, are guaranteed by statute or by contract.

          (g) LAPSE OF RESTRICTIONS. If and when the Restriction Period expires
without a prior forfeiture of the Restricted Stock, the certificates for such
shares shall be delivered to the Participant promptly if not theretofore so
delivered.

     7.3. STOCK GRANTS. Stock Grants shall be awarded solely in recognition of
significant contributions to the success of the Company or its Affiliates, in
lieu of compensation otherwise already due and in such other limited
circumstances as the Committee deems appropriate. Stock Grants shall be made
without forfeiture conditions of any kind.

     7.4. AWARDS TO PARTICIPANTS OUTSIDE THE UNITED STATES. The Committee may
modify the terms of any Award under the Plan granted to a Participant who is, at
the time of grant or during the term of the Award, resident or primarily
employed outside of the United States in any manner deemed by the Committee to
be necessary or appropriate in order that the Award shall conform to laws,
regulations, and customs of the country in which the Participant is then
resident or primarily employed, or so that the value and

<Page>

                                        9

other benefits of the Award to the Participant, as affected by foreign tax laws
and other restrictions applicable as a result of the Participant's residence or
employment abroad, shall be comparable to the value of such an Award to a
Participant who is resident or primarily employed in the United States. An Award
may be modified under this Section 7.4 in a manner that is inconsistent with the
express terms of the Plan, so long as such modifications will not contravene any
applicable law or regulation.

     8.   ADJUSTMENT PROVISIONS

     8.1. ADJUSTMENT FOR CORPORATE ACTIONS. All of the share numbers set forth
in the Plan reflect the capital structure of the Company as of September 28,
2001 (after giving effect to that certain reverse stock split pursuant to and as
set forth in the Company's Second Amended and Restated Certificate of
Incorporation filed with the Secretary of State of the State of Delaware on the
same date). Subject to Sections 8.2 and 8.3, if subsequent to that date the
outstanding shares of Common Stock (or any other securities covered by the Plan
by reason of the prior application of this Section) are increased, decreased, or
exchanged for a different number or kind of shares or other securities, or if
additional shares or new or different shares or other securities are distributed
with respect to shares of Common Stock or other securities, through merger,
consolidation, sale of all or substantially all the property of the Company,
reorganization, recapitalization, reclassification, stock dividend, stock split,
reverse stock split, or other distribution with respect to such shares of Common
Stock, or other securities, an appropriate and proportionate adjustment will be
made in (i) the maximum numbers and kinds of shares provided in Section 4, (ii)
the numbers and kinds of shares or other securities subject to the then
outstanding Awards, (iii) the exercise price for each share or other unit of any
other securities subject to then outstanding Options (without change in the
aggregate purchase price as to which such Options remain exercisable), and (iv)
the repurchase price of each share of Restricted Stock then subject to a Risk of
Forfeiture in the form of a Company repurchase right.

     8.2. TREATMENT IN ACQUISITIONS. Subject to any provisions of then
outstanding Awards granting greater rights to the holders thereof, in the event
of an Acquisition (a) any then outstanding Options shall Accelerate in full if
not assumed by the acquiring entity or replaced by comparable options to
purchase shares of the capital stock of the successor or acquiring entity or
parent thereof, and to the extent not assumed or replaced on the Acquisition
shall then (or after a reasonable period following the Acquisition, as
determined by the Committee) terminate to the extent not exercised and (b) any
then Restricted Stock shall Accelerate in full if the Company's rights to
reacquire such shares of Restricted Stock on occurrence of the applicable Risk
of Forfeiture with respect to those shares are not assigned to the acquiring
entity. As to any one or more outstanding Options and shares of Restricted Stock
which are not otherwise Accelerated in full by reason of such Acquisition, the
Committee may also, either in advance of an Acquisition or at the time thereof
and upon such terms as it may deem appropriate, provide for the Acceleration of
such outstanding Options and Restricted Stock in the event that the employment
of the Participants should subsequently terminate following the Acquisition.
Each outstanding Option that is assumed in connection with an Acquisition, or is

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                                       10

otherwise to continue in effect subsequent to the Acquisition, will be
appropriately adjusted, immediately after the Acquisition, as to the number and
class of securities and the price at which it may be exercised in accordance
with Section 8.1.

     8.3. CHANGE IN CONTROL. Subject to any provisions of then outstanding
Awards granting greater rights to the holders thereof, in the event of a Change
in Control (including a Change of Control which is an Acquisition), any
Restricted Stock Award still then subject to a Risk of Forfeiture and any
outstanding Option not then exercisable in full shall vest under the terms of
the Award. The preceding shall apply as well to shares of Restricted Stock the
repurchase rights of which are held by an acquiring entity, and outstanding
Options which are assumed by an acquiring entity or replaced by comparable
options to purchase shares of the capital stock of a successor or acquiring
entity or parent thereof, pursuant to Section 8.2. The Committee shall have the
discretion, exercisable either in advance of a Change in Control or at the time
thereof, to provide (upon such terms as it may deem appropriate) for (i) the
automatic Acceleration of one or more outstanding Options (including Options
that are assumed or replaced pursuant to Section 8.2) that do not otherwise
Accelerate by reason of the Change in Control, and/or (ii) the subsequent
termination of one or more of the Company's repurchase rights with respect to
Restricted Stock Awards that do not otherwise terminate at that time, in the
event that the employment of the respective grantees of such Awards should
subsequently terminate following such Change in Control.

     8.4. DISSOLUTION OR LIQUIDATION. Upon dissolution or liquidation of the
Company, other than as part of an Acquisition or similar transaction, each
outstanding Option shall terminate, but the Optionee (if at the time in the
employ of or otherwise associated with the Company or any of its Affiliates)
shall have the right, immediately prior to the dissolution or liquidation, to
exercise the Option to the extent exercisable on the date of dissolution or
liquidation.

     8.5. RELATED MATTERS. Any adjustment in Awards made pursuant to this
Section 8 shall be determined and made, if at all, by the Committee and shall
include any correlative modification of terms, including of Option exercise
prices, rates of vesting or exercisability, Risks of Forfeiture and applicable
repurchase prices for Restricted Stock, which the Committee may deem necessary
or appropriate so as to ensure the rights of the Participants in their
respective Awards are not substantially diminished nor enlarged as a result
of the adjustment and corporate action other than as expressly contemplated in
this Section 8. No fraction of a share shall be purchasable or deliverable upon
exercise, but in the event any adjustment hereunder of the number of shares
covered by an Award shall cause such number to include a fraction of a share,
such number of shares shall be adjusted to the nearest smaller whole number of
shares. No adjustment of an Option exercise price per share pursuant to this
Section 8 shall result in an exercise price which is less than the par value of
the Stock.

     9.   SETTLEMENT OF AWARDS

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                                       11

     9.1. VIOLATION OF LAW. Notwithstanding any other provision of the Plan or
the relevant Award Agreement, if, at any time, in the reasonable opinion of the
Company, the issuance of shares of Common Stock covered by an Award may
constitute a violation of law, then the Company may delay such issuance and the
delivery of a certificate for such shares until (i) approval shall have been
obtained from such governmental agencies, other than the Securities and Exchange
Commission, as may be required under any applicable law, rule, or regulation and
(ii) in the case where such issuance would constitute a violation of a law
administered by or a regulation of the Securities and Exchange Commission, one
of the following conditions shall have been satisfied:

          (a) the shares are at the time of the issue of such shares effectively
registered under the Act; or

          (b) the Company shall have determined, on such basis as it deems
appropriate (including an opinion of counsel in form and substance satisfactory
to the Company) that the sale, transfer, assignment, pledge, encumbrance or
other disposition of such shares or such beneficial interest, as the case may
be, does not require registration under the Securities Act of 1933, as amended
or any applicable State securities laws.

The Company shall make all reasonable efforts to bring about the occurrence of
said events.

     9.2. CORPORATE RESTRICTIONS ON RIGHTS IN STOCK. Any Stock to be issued
pursuant to Awards granted under the Plan shall be subject to all restrictions
upon the transfer thereof which may be now or hereafter imposed by the charter,
certificate or articles, and by-laws, of the Company. Whenever Stock is to be
issued pursuant to an Award, if the Committee so directs at or after grant, the
Company shall be under no obligation to issue such shares until such time, if
ever, as the recipient of the Award (and any person who exercises any Option, in
whole or in part), shall have become a party to and bound by the Stockholders'
Agreement, if any. In the event of any conflict between the provisions of this
Plan and the provisions of the Stockholders' Agreement, the provisions of the
Stockholders' Agreement shall control except as required to fulfill the
intention that this Plan constitute an incentive stock option plan within the
meaning of Section 422 of the Code, but insofar as possible the provisions of
the Plan and such Agreement shall be construed so as to give full force and
effect to all such provisions.

     9.3. INVESTMENT REPRESENTATIONS. The Company shall be under no obligation
to issue any shares covered by any Award unless the shares to be issued pursuant
to Awards granted under the Plan have been effectively registered under the
Securities Act of 1933, as amended, or the Participant shall have made such
written representations to the Company (upon which the Company believes it may
reasonably rely) as the Company may deem necessary or appropriate for purposes
of confirming that the issuance of such shares will be exempt from the
registration requirements of that Act and any applicable state securities laws
and otherwise in compliance with all applicable laws, rules and regulations,
including but not limited to that the Participant is acquiring the shares for
his

<Page>

                                       12

or her own account for the purpose of investment and not with a view to, or for
sale in connection with, the distribution of any such shares.

     9.4. REGISTRATION. If the Company shall deem it necessary or desirable to
register under the Securities Act of 1933, as amended or other applicable
statutes any shares of Stock issued or to be issued pursuant to Awards granted
under the Plan, or to qualify any such shares of Stock for exemption from the
Securities Act of 1933, as amended or other applicable statutes, then the
Company shall take such action at its own expense. The Company may require from
each recipient of an Award, or each holder of shares of Stock acquired pursuant
to the Plan, such information in writing for use in any registration statement,
prospectus, preliminary prospectus or offering circular as is reasonably
necessary for that purpose and may require reasonable indemnity to the Company
and its officers and directors from that holder against all losses, claims,
damage and liabilities arising from use of the information so furnished and
caused by any untrue statement of any material fact therein or caused by the
omission to state a material fact required to be stated therein or necessary to
make the statements therein not misleading in the light of the circumstances
under which they were made. In addition, the Company may require of any such
person that he or she agree that, without the prior written consent of the
Company or the managing underwriter in any public offering of shares of Stock,
he or she will not sell, make any short sale of, loan, grant any option for the
purchase of, pledge or otherwise encumber, or otherwise dispose of, any shares
of Common Stock during the 180 day period commencing on the effective date of
the registration statement relating to the underwritten public offering of
securities. Without limiting the generality of the foregoing provisions of this
Section 9.4, if in connection with any underwritten public offering of
securities of the Company the managing underwriter of such offering requires
that the Company's directors and officers enter into a lock-up agreement
containing provisions that are more restrictive than the provisions set forth in
the preceding sentence, then (a) each holder of shares of Stock acquired
pursuant to the Plan (regardless of whether such person has complied or complies
with the provisions of clause (b) below) shall be bound by, and shall be deemed
to have agreed to, the same lock-up terms as those to which the Company's
directors and officers are required to adhere; and (b) at the request of the
Company or such managing underwriter, each such person shall execute and deliver
a lock-up agreement in form and substance equivalent to that which is required
to be executed by the Company's directors and officers.

     9.5. PLACEMENT OF LEGENDS; STOP ORDERS; ETC. Each share of Common Stock to
be issued pursuant to Awards granted under the Plan may bear a reference to the
investment representation made in accordance with Section 9.3 in addition to any
other applicable restriction under the Plan, the terms of the Award and, if
applicable, under the Stockholders' Agreement and to the fact that no
registration statement has been filed with the Securities and Exchange
Commission in respect to such shares of Common Stock. All certificates for
shares of Common Stock or other securities delivered under the Plan shall be
subject to such stock transfer orders and other restrictions as the Committee
may deem advisable under the rules, regulations, and other requirements of any
stock exchange upon which the Common Stock is then listed, and any applicable
federal or

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                                       13

state securities law, and the Committee may cause a legend or legends to be put
on any such certificates to make appropriate reference to such restrictions.

     9.6. TAX WITHHOLDING. Whenever shares of Stock are issued or to be issued
pursuant to Awards granted under the Plan, the Company shall have the right to
require the recipient to remit to the Company an amount sufficient to satisfy
federal, state, local or other withholding tax requirements if, when, and to the
extent required by law (whether so required to secure for the Company an
otherwise available tax deduction or otherwise) prior to the delivery of any
certificate or certificates for such shares. The obligations of the Company
under the Plan shall be conditional on satisfaction of all such withholding
obligations and the Company shall, to the extent permitted by law, have the
right to deduct any such taxes from any payment of any kind otherwise due to the
recipient of an Award.

     10. RESERVATION OF STOCK. The Company shall at all times during the term of
the Plan and any outstanding Options granted hereunder reserve or otherwise keep
available such number of shares of Stock as will be sufficient to satisfy the
requirements of the Plan (if then in effect) and the Options and shall pay all
fees and expenses necessarily incurred by the Company in connection therewith.

     11. NO SPECIAL EMPLOYMENT OR OTHER RIGHTS. Nothing contained in the Plan or
in any Award Agreement shall confer upon any recipient of an Award any right
with respect to the continuation of his or her employment or other association
with the Company (or any Affiliate), or interfere in any way with the right of
the Company (or any Affiliate), subject to the terms of any separate employment
or consulting agreement or provision of law or corporate charter, certificate or
articles, or by-laws, to the contrary, at any time to terminate such employment
or consulting agreement or to increase or decrease, or otherwise adjust, the
other terms and conditions of the recipient's employment or other association
with the Company and its Affiliates.

     12. NONEXCLUSIVITY OF THE PLAN. Neither the adoption of the Plan by the
Board nor the submission of the Plan to the stockholders of the Company shall be
construed as creating any limitations on the power of the Board to adopt such
other incentive arrangements as it may deem desirable, including without
limitation, the granting of stock options and restricted stock other than under
the Plan, and such arrangements may be either applicable generally or only in
specific cases.

     13. TERMINATION AND AMENDMENT OF THE PLAN. The Board may at any time
terminate the Plan or make such modifications of the Plan as it shall deem
advisable. Unless the Board otherwise expressly provides, no amendment of the
Plan shall affect the terms of any Award outstanding on the date of such
amendment. In any case, no termination or amendment of the Plan may, without the
consent of any recipient of an Award granted hereunder, adversely affect the
rights of the recipient under such Award.

     The Committee may amend the terms of any Award theretofore granted,
prospectively or retroactively, provided that the Award as amended is consistent
with the

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                                       14

terms of the Plan, but no such amendment shall impair the rights of the
recipient of such Award without his or her consent.

     14. NOTICES AND OTHER COMMUNICATIONS. Any notice, demand, request or other
communication hereunder to any party shall be deemed to be sufficient if
contained in a written instrument delivered in person or duly sent by first
class registered, certified or overnight mail, postage prepaid, or telecopied
with a confirmation copy by regular, certified or overnight mail, addressed or
telecopied, as the case may be, (i) if to the recipient of an Award, at his or
her residence address last filed with the Company and (ii) if to the Company, at
its principal place of business, addressed to the attention of its Treasurer, or
to such other address or telecopier number, as the case may be, as the addressee
may have designated by notice to the addressor. All such notices, requests,
demands and other communications shall be deemed to have been received: (i) in
the case of personal delivery, on the date of such delivery; (ii) in the case of
mailing, when received by the addressee; and (iii) in the case of facsimile
transmission, when confirmed by facsimile machine report.

     15. GOVERNING LAW. The Plan and all Award Agreements and actions taken
thereunder shall be governed, interpreted and enforced in accordance with the
laws of the Commonwealth of Massachusetts, without regard to the conflict of
laws principles thereof.

                                      * * *

     The following does not form part of this Plan but is included solely for
informational purposes:

Date of Board Approval:                             August 28, 2001
Date of Shareholder Approval:                       September 28, 2001
Date of Board Approval of First Amendment:          April 30, 2003
Date of Shareholder Approval of First Amendment:    April 30, 2003
Date of Board Approval of Second Amendment:         January 22, 2004
Date of Shareholder Approval of Second Amendment:   January 22, 2004

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