Exhibit 10.20

                              AGREEMENT AND RELEASE

                This Agreement and Release is made by and between James C. R.
Graham ("You") and Giga Information Group, Inc. ("Giga") or the ("Company"). In
consideration of the mutual obligations and promises contained herein, you and
Giga agree as follows:

1.    Title. Effective August 15, 1999, your title will be changed to Research
      Fellow.

2.    Services. During the period between August 15, 1999 and February 15, 2000:
      (a) Giga may call upon you in a special projects capacity ("Services") for
      up to 40 business days of Services; (b) You will carry out the 12 CIO
      Seminars that have been scheduled by Giga; and (c) Giga may request up to
      an additional 20 business days of Services and you will use your best
      efforts to provide such Services. The Company shall provide reasonable
      notice to you as to any request for Services during this period.
      Furthermore, the Company agrees to pay reasonable out-of-pocket expenses
      (including travel) incurred by you in performance of Services. However, in
      all other respects, you will be entitled to use your time and your home
      office to focus on your future career, subject to the limitations in (4)
      and (8) below and elsewhere herein.

      At your option, after November 30, 1999 and other than the CIO Seminars,
      you may stop providing Services to the Company. If you so choose, the
      remaining consideration described in (3) (a), (b), and (c) below will not
      be paid and the vesting of stock options described in (5) below will end.

3.    Consideration: (a) Continuation of base salary at its current level
      through February 15, 2000; (b) continuation of insurance benefits (health,
      life and disability) at their current levels through February 30, 2000;
      (c) continued participation in the Company's 401K plan through February
      15, 2000; and (d) $50,000 for carrying out the CIO Seminars. In addition,
      You will be paid at the rate of $2,000 per day for the optional 20 days of
      Services.

      The $50,000 for carrying out the CIO Seminars will be paid as follows: (a)
      $15,000 upon execution of this agreement; (b) $17,000 on October 1, 1999;
      and (c) $18,000 on November 30, 1999.

4.    Job Search. You may continue to use the computer and communications
      equipment Giga provided for your home office through the end of your
      employment. This equipment will be returned prior to the earlier of ten
      (10) days after you stop providing Services or February 30, 2000. Your
      access to voicemail will continue, and we will direct your email to your
      personal account, so long as your use of these systems does not threaten
      Giga's competitive position or put confidential information at risk. Giga
      will continue to provide normal administrative support during this period.

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5.    Stock Options. Your rights to exercise any vested options under the
      Company's 1996 Stock Option Plan (the "Plan") and other applicable plans
      will be determined by the applicable provisions of that Plan(s). Vesting
      will continue through February 15, 2000. For purposes of determining the
      "Exercise Period Upon Termination of Employment" under the Plan, your last
      day of employment will be February15, 2000. The 90-day exercise period of
      options begins February 15, 2000.

6.    Release of Claims: (a) In consideration of Giga's payments and
      undertakings contained in this Agreement and Release and except for any
      vested interest in the Company's 401(k) Savings and Retirement Plan, and
      Stock Option Plans, you hereby release and forever discharge, and covenant
      not to sue or commence proceedings against, Giga, its subsidiaries or
      affiliates and their respective officers, directors, employees, agents,
      successors and assigns ("Releasees"), from and with respect to any and all
      claims, debts, demands, damages, actions and causes of action of any kind
      whatsoever, based on facts or circumstances of which you have present
      knowledge, which you now have, ever had, or may in the future have,
      against such Releasees, arising to the date of this Agreement and Release,
      including, without limitation, those arising out of or in any manner
      relating to your employment by Giga or the termination of such employment,
      including, without limitation, any claim for reinstatement, back or future
      pay, bonuses, commissions, fringe benefits, medical expenses, attorneys'
      fees and expenses, damages or consequential damages, including but not
      limited to any claim, complaint, charge or lawsuit under Title VII of the
      Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age
      Discrimination in Employment Act of 1967, the Equal Pay Act of 1963, the
      Employee Retirement Income Security Act of 1974, the Rehabilitation Act of
      1973, Executive Order 11246, the Massachusetts Fair Employment Act, the
      Massachusetts Civil Rights Act, the Massachusetts Equal Rights Act and any
      other state, federal or municipal law statute, public policy, order or
      regulation affecting or relating to the claims or rights of employees,
      including any and all claims and suits in tort or contract. You hereby
      represent and warrant to Giga that you have no present knowledge of any
      facts and circumstances that may give rise to a claim against Giga or
      other Releasees.

      (b) With respect to any rights you may have under the Age Discrimination
      in Employment Act of 1967, which rights are being released under this
      Agreement and Release, you understand that you have 21 days to consider
      this Agreement and Release, which, if you choose to sign this document
      before the 21-day period expires, you hereby waive; that for a period of
      seven days following your execution of this Agreement and Release you may
      revoke it and your release as to such rights; that this Agreement and
      Release shall not become effective or enforceable as to the release of
      such rights until this seven-day revocation period has expired; and that
      Giga has no obligation to pay any sums or provide any benefits referred to
      in this Agreement and release, except those to which you are entitled
      under existing Giga policy, until it becomes effective or enforceable.


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7.    Confidentiality and Non-Disparagement: You and the Company agree to keep
      as confidential that the terms of this Agreement and Release, and all
      facts and circumstances associated therewith, except that the parties will
      develop a mutually acceptable exit statement for internal and external
      publication. In addition, you agree that you will not act or assist any
      action to diminish or interfere with the Company's relationship with its
      employees, clients, or prospective clients, or the Company's goodwill; or
      seek to bind the Company in any way during the salary continuation period
      or thereafter. Notwithstanding the forgoing, you are permitted to share
      the details of this Agreement in confidence with your attorney.

7.    Other Agreements Still in Effect. The provisions of all confidentiality,
      assignment of invention, and non-compete agreements you signed during the
      course of your employment with Giga remain in effect. You agree to comply
      with company policies in connection with your employment as described
      herein.

      Giga understands that You are writing a book with the planned title "How
      to Build an Internet Insurance Company." Giga agrees that with regard to
      the book, the entire rights, title and interest, including copyright, in
      all software, data, methodologies, sketches, drawings, models,
      presentations, works of authorship or other creative works, ideas,
      knowledge or data, whether written, oral or otherwise expressed,
      originated and developed by You is your soles property.

9.    Complete Agreement: You acknowledge that you have read and understood this
      Agreement and Release and have had the opportunity to seek the advice of
      your attorney upon request. This Agreement and Release sets forth the
      entire agreement and understanding between you and Giga concerning the
      matters specified above (but in no way limits your obligations under any
      other agreement between you and the Company). No subsequent modification
      of this Agreement shall be effective unless it is in writing and duly
      signed by authorized representatives of both parties.

By signing below, each party agrees to the terms of this Agreement and Release.
Once signed, any reproduction of this Agreement and Release made by reliable
means (for example photocopy or facsimile) is considered an original.


AGREED:                                   GIGA INFORMATION GROUP:

                                          By:
------------------------------------          ----------------------------------
James C. R. Graham                            Daniel M. Clarke, SVP and CFO
Date:                                         August 16, 1999
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