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                                                                   EXHIBIT 10.15
                               TIGERA GROUP, INC.
                                730 Fifth Avenue
                                   9th Floor
                            New York, New York 10019


                                             November 15, 1995


Ms. Deborah A. Farrington
Suite 1900
667 Madison Avenue
New York, New York 10021

Dear Ms. Farrington:

                 This letter sets forth our mutual understanding concerning the
arrangements, terms and conditions pursuant to which you will be employed,
commencing November 15, 1995 (the "Effective Date"), as an employee of Tigera
Group, Inc. (the "Company" or "Tigera") for a period (the "Term") of three (3)
years commencing on the Effective Date.

                 1.        During the Term you shall serve the Company to the
best of your ability in the executive capacity or capacities to which you shall
be elected or appointed by the Board of Directors of the Company.

                 2.        As compensation for all services to be performed by
you for Tigera during the Term and, in lieu of all other compensation, the
Company shall grant to you options to purchase 400,000 shares of the Company's
Common Stock, par value $.01 per share, at a price of $0.885 per share, subject
to the terms and conditions contained in one or more option agreements, dated
as





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of the date hereof, between you and the Company.  You shall also be entitled to
a salary in the amount of $25,000 per annum and to reimbursement for all
documented reasonable expenses incurred by you in performance of your duties
hereunder.

                 3.        This Agreement may be terminated by the Company, at 
any time, upon 30 days advance written notice to you.  This Agreement may be
terminated by you, at any time after the first anniversary of the date hereof,
upon 30 days advance written notice to the Company.

                 4.        Except in the course of the performance of your
duties hereunder, you hereby agree that you shall not disclose at any time any
trade secrets, know-how, or other proprietary information.

                 5.        This Agreement shall be interpreted in accordance
with the laws of the state of New York applicable to contracts made and to be
performed entirely within that state.

                 6.        This letter contains the sole agreement of the
parties pertaining in any way to the subject matter hereto.  It cannot be
altered or amended except by a writing duly executed by the party against whom
such alteration or amendment is sought to be enforced.





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                 If this letter correctly sets forth your understanding of the
terms of your employment arrangement with the Company please sign below in the
place indicated and return it at your earliest convenience.

                                        Very truly yours,

                                        TIGERA GROUP, INC.


                                        By:/s/Robert E. Kelly         
                                           ---------------------------
                                           Name: Robert E. Kelly
                                           Title: Sr. V.P. and CFO

ACCEPTED AND AGREED TO:

/s/ Deborah A. Farrington
-------------------------
Deborah A. Farrington





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