Document:

November 13, 2003

                         Calypte Biomedical Corporation
                         ------------------------------

                Ticker:          CYPT
                Exchange:        OTC Bulletin Board

                Agreement for Commitment to Purchase Aggregate of
                       $10,000,000 of 5% Promissory Notes

Securities:             5% Notes, each with 12 month term (the "Notes")
----------              of the Issuer

Issuer:                 Calypte Biomedical Corporation (the "Issuer")
------

Purchaser:              Marr Technologies, B.V.
---------

Commitment Amount:      $10,000,000
-----------------

Use of Proceeds:        General Corporate Purposes
---------------

I.   Terms of Note Issuance

       a.     Note  Issuance:  Beginning  on the  First  Availability  Date  and
              continuing  through the  Availability  Period  (each as defined in
              Section  III.c.)of this agreement,  the Issuer may issue Notes, in
              its sole discretion (each, a "Note"), which the Purchaser shall be
              obligated  to accept,  with an  aggregate  total not to exceed the
              Commitment Amount.

       b.     Issuance Notice:  The Issuer shall indicate its intention to issue
              a Note by delivering to the Purchaser an Issuance Notice (each, an
              "Issuance Notice") via facsimile transmission. The Issuance Notice
              shall specify:

              (i)    The amount of the Note (the "Note Amount");

              (ii)   The date on which the Note is to be  effective  and funded,
                     which shall be no sooner than 4 business days from the date
                     of the Issuance Notice. If the Issuer wishes the Note to be
                     funded on the fourth business day, the Issuance Notice must
                     be delivered to the Purchaser  and such receipt  confirmed,
                     before 8:30 a.m. ET.

              (iii)  A form of Issuance Notice is attached hereto as Exhibit B.

<PAGE>

       c.     Note Amount: The Note Amount shall be a minimum of $500,000 in any
              single  issuance.  The  maximum  Note  Amount in the  first  month
              following the First  Availability  Date shall be  $1,500,000  and,
              should the conditions  regarding  listing of the Company's  common
              stock  described in Section  III.b.  herein not be met,  such Note
              will become due and payable on April 30, 2004. II. Settlement

              a.     Settlement: Within 24 hours of the Issuer's transmission of
                     the  Issuance  Notice  to the  Purchaser,  Purchaser  shall
                     confirm receipt  thereof.  Once the Purchaser  confirms the
                     receipt  of the  Issuance  Notice,  Purchaser  shall have 3
                     business  days  in  which  to  purchase  the  Note  by wire
                     transfer of  immediately  available  funds to the  Issuer's
                     designated  account.  At the election of either  party,  an
                     escrow agent may be used.

              b.     Note  Agreement:  Each Note issued  pursuant to an Issuance
                     Notice  under this  Agreement  shall be evidenced by a Note
                     substantially  in the form of Exhibit A hereto and shall be
                     executed by authorized  representatives  of both  Purchaser
                     and Issuer.

              c.     Term of Note.  Except as noted in Section I.c. with respect
                     to any Note  issued  during the first month  following  the
                     First  Availability  Date, Each Note issued under the terms
                     of this Agreement  shall have a term of 12 months and shall
                     be repaid  upon  maturity by wire  transfer of  immediately
                     available funds to the Purchaser's designated account.

              d.     Interest.  Interest  shall  accrue  at 5% per  annum on any
                     Notes issued under the terms of this Agreement and shall be
                     paid in cash upon the maturity of the Note.

III.          General Conditions

              a.     Effective  Date: The Effective Date of this agreement shall
                     be the date on which the authorized  representatives of the
                     Issuer and Purchaser shall have signed this Agreement.

              b.     Term of Agreement.  This agreement  shall  terminate on May
                     31, 2005.  Notwithstanding  the  preceding  sentence,  this
                     Agreement  shall  terminate  on March 31,  2004 if, at that
                     date,  Issuer  shall not have its common  stock,  $0.03 par
                     value,  listed on either the American Stock  Exchange,  the
                     New York  Stock  Exchange,  the Nasdaq  National  Market or
                     Nasdaq Small Cap Market.

              c.     First  Availability  Date  and  Availability   Period.  The
                     earliest  date upon which the Issuer may issue an  Issuance
                     Notice  under the terms of this  agreement  is February 28,
                     2004  (the  "First  Availability  Date").  Subject  to  the
                     provisions  of  Section  1.c.  herein,  Issuer may issue an
                     Issuance  Notice  on  any  date   thereafter   through  and
                     including  May 31, 2004.  The period from February 28, 2004
                     through  May  28,  2004,  inclusive,   is  defined  as  the
                     "Availability Period".

              d.     Subsequent  Financings:  During the term of this Agreement,
                     Issuer will notify  Purchaser of all  offerings  for equity
                     financing which it may undertake.  Equity financings shall,
                     for the  purposes  of this  Agreement,  be  defined as cash
                     received by Issuer from the sale of Issuer's  common stock,
                     $0.03 par value,  or such other  equity  security as it may
                     offer from time to time, for cash,  specifically  excluding
                     cash received from the exercise of currently outstanding or
                     subsequently   granted   options  or  warrants   issued  to
                     employees, consultants, or other parties for services or in
                     lieu of cash  for  services  or for  intellectual  property
                     rights.

                                       2
<PAGE>

              i.     Issuer will grant  Purchaser  the right of first refusal to
                     participate in any such subsequent equity financings on the
                     same key terms and  conditions,  which  shall  include  the
                     dollar   investment  amount  or  number  of  shares  to  be
                     purchased,  pricing, number of warrants and their terms, if
                     any,  registration  rights and fees,  as  applicable to the
                     subject  offer.   Purchaser  shall  inform  Issuer  of  its
                     decision to participate in any subsequent  equity financing
                     within two business days of notice from Issuer.

              ii.    Regardless of  Purchaser's  election to  participate in any
                     such subsequent equity financings,  the Total Note Purchase
                     Commitment  under this Agreement shall be decreased  dollar
                     for  dollar  by the net  amount of such  subsequent  equity
                     financing completed by Issuer.

       d.     Issuance of Warrant.  As fee for the loan commitment  evidenced by
              this  Agreement,  Issuer agrees to issue, on the Effective Date, a
              warrant to purchase 375,000 shares of its common stock,  $0.03 par
              value,  at a price  of  $0.80  per  share.  The  warrant  shall be
              immediately  exercisable  and shall  have a term of two years from
              the  Effective  Date.  The  Warrant  shall be  issued  to:

                        Boodle Hatfield.
                        61 Brook Street
                        London W1K 4BL

              A form of warrant is attached as Exhibit C.

       e.     Non-utilization  of  Commitment.   No  utilization  of  this  Note
              facility  may be made  if,  at the  time the  Issuance  Notice  is
              tendered to Purchaser or at the time the Note is issued,  an event
              of default or an event  which,  with the giving of notice or lapse
              of time or both,  would constitute an event of default (the "Event
              of Default")  has occurred and is  continuing or would result from
              such utilization of this facility.

       f.     Events of Default.  Purchaser may, without  prejudice to its other
              rights  hereunder,  terminate its obligation to purchase the Notes
              and declare all outstanding amounts owing to Purchaser pursuant to
              Notes  issued  under this  Agreement,  together  with all  accrued
              interest and such other  payments  payable  under this  Agreement,
              immediately due and payable at any time after any of the following
              events shall have occurred:

              i.     The Issuer defaults in the due performance of observance of
                     any of its  obligations  under this  agreement and, if such
                     default  is, in the  opinion of the  Purchaser,  capable of
                     remedy, such default shall not have been remedied within 14
                     days of the Purchaser notifying the Issuer of such default;
                     or

              ii.    Any judgment or order of a court of competent  jurisdiction
                     in an amount  exceeding  $10,000 made against the Issuer is
                     not  stayed  or   complied   with  within  21  days  of  an
                     encumbrancer  takes  possession of the whole or part of the
                     assets,  rights, or revenues of the Issuer or a distress or
                     other process is levied or enforced upon any of the assets,
                     rights or  revenues  of the  Issuer  and is not  discharged
                     within 21 days; or

              iii.   The Issuer is adjudicated  and found  insolvent or any step
                     is taken or proceedings  are commenced for the  winding-up,
                     administration,  liquidation,  restructuring or dissolution
                     of the  Issuer  of for  the  appointment  of a  liquidator,

                                       3
<PAGE>

                     trustee  in  bankruptcy,  receiver  or  similar  officer in
                     respect  of the  Issuer  or the  whole  or any  part of its
                     assets, rights, or revenues; or

              iv.    The Issuer stops or suspends  payment of its debts incurred
                     subsequent  to September 30, 2003, as summarized in Exhibit
                     D, or is, or has been  deemed to be,  unable  to, or admits
                     inability  to,  pay  its  debts  as  they  come  due  or it
                     commences  negotiations  with one or more if its  creditors
                     with a view to the  general  rescheduling  of all or any of
                     its debts or  proposes or enters  into any  composition  or
                     other   arrangement   for  the  benefit  of  its  creditors
                     generally, or of any class thereof; or

              v.     Except  with  respect  to a Note  issued  within  the month
                     following the First  Availability Date, the common stock of
                     the  Issuer  ceases  to be  listed  on a  recognized  stock
                     exchange in the United States of America; or

              vi.    Any other  event  occurs or  circumstance  arises  which is
                     likely to have a material adverse effect on the business or
                     financial condition of the Issuer.

This agreement is executed and binding as of this 13th day of November 2003.

Calypte Biomedical Corporation
("Issuer") A Delaware Corporation

By: /s/ Jay Oyakawa
    ----------------------------------------

Title: President and CEO
      --------------------------------------

Marr Technologies, B.V.
("Purchaser")

By: /s/ J.K. Basnet
    ----------------------------------------

Title: Authorised Signatory
       -------------------------------------

                                       4
<PAGE>

                                                                       EXHIBIT A

                             FORM OF PROMISSORY NOTE

$____________                                                 [Date]
                                                        Alameda, California

         FOR  VALUE  RECEIVED,   Calypte  Biomedical  Corporation,   a  Delaware
corporation (the "Borrower")  promises to pay to the order of Marr Technologies,
B.V. (the "Payee"), the principal amount of ____________________________________
and No/100  Dollars  ($__________.00)  ("Principal").  The unpaid  Principal due
under this Note shall bear interest from the date hereof until paid, computed at
a rate  equivalent  of 5.00% per annum  (computed on the basis of a 360-day year
and actual days elapsed).

         This Note shall be payable in full  twelve  months from the date hereof
(the "Maturity Date"). All accrued interest on the entire unpaid principal shall
likewise be due on the Maturity Date.

         Payment of the Principal and interest  shall be made in lawful money of
the United States in the form of a wire transfer of immediately  available funds
to an account  specified  by Payee or at such other place as Payee may from time
to time  direct  in  writing.  Payee  shall be  entitled  to assign  its  rights
hereunder, and in the event of such assignment, any references to "Payee" herein
shall include such subsequent holder or holders.

         No delay on the part of the Payee in  exercising  any right  under this
Note, or other  undertaking  securing or affecting  this Note shall operate as a
waiver of such right or any other right,  nor shall any  omission in  exercising
any right on the part of the Payee  under this  Note.  In the event this Note is
not paid when due, the Borrower  shall pay all costs of  collection,  including,
without limitation, reasonable attorneys' fees.

         All notices and other communications  hereunder shall be in writing and
shall be deemed  received  (1) upon  receipt or refusal  thereof,  if  delivered
personally or via overnight  courier service,  or (2) upon receipt by the sender
of transmission confirmation, if delivered via facsimile. Notice to either party
hereto, if faxed or sent by overnight courier service, shall be to the following
addresses:

                                       5
<PAGE>

      If to the Payee, to:                  If to the Borrower, to:
      Marr Technologies, BV                 Calypte Biomedical Corporation
      Strawinskylaan 1431                   1265 Harbor Bay Parkway
      1077XX Amsterdam                      Alameda, CA 94502
      Netherlands                           Attention:  Executive Vice President
                                                        and CFO
      Attention:  Christian Strik           Facsimile:  510-814-8494
      Facsimile:

Any party may change their address for notice by giving all other parties notice
of such change pursuant to this paragraph.

         At the option of the Borrower,  all or any portion of the Principal and
accrued  interest due on this Note may be otherwise  prepaid  without premium or
penalty,  the amount of the  prepayment to be applied first to accrued  interest
and the remainder to any unpaid balance of Principal.

         This Note and the rights and obligations of the parties hereto shall be
governed by and construed in accordance  with the laws of the State of Delaware,
without regard to the conflicts of laws principles of the State of Delaware. All
rights of Payee  hereunder  shall  inure to the  benefit of its  successors  and
assigns,  and all  obligations  of the Borrower  shall bind its  successors  and
assigns;  provided,  however,  that  this  Note and the  Borrower's  obligations
hereunder  shall not be  assignable  by the Borrower  without the prior  written
consent of Payee.  The Borrower  hereby  waives  presentment,  demand,  protest,
notice of dishonor  and/or  protest,  notice of nonpayment and all other notices
and demands, and assents to the extension of the time of payment, forbearance or
other indulgence, without notice.

         To induce Payee to accept this Note,  the Borrower  irrevocably  agrees
that, subject to Payee's sole and absolute election, all actions or proceedings,
in any way,  manner or  respect,  arising out of or from or related to this Note
shall be litigated in courts having situs within the City of  Wilmington,  State
of Delaware. The Borrower hereby consents and submits to the jurisdiction of any
local,  state or federal court located within said City and State.  The Borrower
hereby  waives  any right it may have to  transfer  or  change  the venue of any
litigation  brought  against  the  Borrower  by Payee in  accordance  with  this
paragraph,  and the Borrower hereby  specifically waives any right to assert the
doctrine of forum non conveniens.

                                       6
<PAGE>

         THE  BORROWER  IRREVOCABLY  WAIVES  ANY  RIGHT  TO TRIAL BY JURY IN ANY
ACTION,  SUIT,  COUNTERCLAIM,  OR PROCEEDING (I) TO ENFORCE OR DEFEND ANY RIGHTS
UNDER OR IN CONNECTION WITH THIS NOTE OR ANY AMENDMENT,  INSTRUMENT, DOCUMENT OR
AGREEMENT  DELIVERED  OR WHICH MAY IN THE  FUTURE  BE  DELIVERED  IN  CONNECTION
HEREWITH,  OR (II) ARISING FROM ANY DISPUTE OR CONTROVERSY IN CONNECTION WITH OR
RELATED TO THIS NOTE OR ANY SUCH AMENDMENT,  INSTRUMENT,  DOCUMENT OR AGREEMENT,
AND AGREES THAT ANY SUCH ACTION,  SUIT COUNTERCLAIM OR PROCEEDING SHALL BE TRIED
BEFORE A COURT AND NOT BEFORE A JURY.

         All of Payee's  rights and remedies  under this Note are cumulative and
non-exclusive.  The  acceptance by Payee of any partial  payment made  hereunder
after the time when any of the  Borrower's  liabilities  become due and  payable
will not  establish  a custom or waive any  rights  of Payee to  enforce  prompt
payment hereof. Payee's failure to require strict performance by the Borrower of
any  provision  of this Note shall not waive,  affect or  diminish  any right of
Payee thereafter to remain in strict compliance and performance herewith.

         IN WITNESS  WHEREOF,  Calypte  Biomedical  Corporation has executed and
delivered this Promissory Note the day and year first written above.

                                CALYPTE BIOMEDICAL CORPORATION

                                By:
                                   ----------------------------------------
                                   Richard R. Brounstein
                                   Executive Vice President
                                   and Chief Financial Officer

                                       7
<PAGE>

                                                                       Exhibit B

                                     Form Of

                                 ISSUANCE NOTICE

                         Calypte Biomedical Corporation

       The undersigned  hereby  certifies,  with respect to a 5% Note of Calypte
Biomedical Corporation (the "Company") issuable in connection with this Issuance
Notice dated  __________________ (the "Issuance Notice"),  delivered pursuant to
the Agreement for Commitment to Purchase  Aggregate of $10,000,000 5% Promissory
Notes dated as of November 13, 2003 (the "Agreement"), as follows:

       1.     The  undersigned  is the duly appointed  _________________  of the
              Company.

       2.     The Note Amount is $____________.

       3.     The Settlement Date shall be _________, 2004.

       The undersigned has executed this Notice this ___th day of ____ 2004.

                                        CALYPTE BIOMEDICAL CORPORATION

                                        By: _______________________________
                                            Name:
                                            Title:

                                       8
<PAGE>

THE SECURITIES  REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED ("1933 ACT"), OR ANY STATE SECURITIES LAWS AND SHALL NOT
BE SOLD, PLEDGED,  HYPOTHECATED,  DONATED, OR OTHERWISE TRANSFERRED,  WHETHER OR
NOT FOR CONSIDERATION,  BY THE HOLDER EXCEPT UPON THE ISSUANCE TO THE COMPANY OF
A  FAVORABLE  OPINION OF ITS  COUNSEL OR THE  SUBMISSION  TO THE COMPANY OF SUCH
OTHER  EVIDENCE AS MAY BE  SATISFACTORY  TO COUNSEL FOR THE  COMPANY,  IN EITHER
CASE, TO THE EFFECT THAT ANY SUCH TRANSFER SHALL NOT BE IN VIOLATION OF THE 1933
ACT AND APPLICABLE STATE SECURITIES LAWS.

                         CALYPTE BIOMEDICAL CORPORATION

                          Common Stock Purchase Warrant
                                       to
                             Purchase 375,000 Shares
                                       of
                                  Common Stock

                This Common Stock Purchase Warrant is issued to:

                                 Boodle Hatfield
                                 61 Brook Street
                                 London, W1K 4BL

by CALYPTE BIOMEDICAL  CORPORATION,  a Delaware corporation  (hereinafter called
the "Company", which term shall include its successors and assigns).

       FOR VALUE  RECEIVED and subject to the terms and  conditions  hereinafter
set out,  the  registered  holder of this  Warrant as set forth on the books and
records of the Company (the "Holder") is entitled upon surrender of this Warrant
to purchase from the Company 4,000,000 fully paid and  non-assessable  shares of
Common Stock,  $0.03 par value per share (the "Common  Stock"),  at the Exercise
Price (as defined below) per share.

       This Warrant shall expire at the close of business on November 13, 2005.

       1. (a) The right to purchase  shares of Common Stock  represented by this
Warrant may be exercised by the Holder, in whole or in part, by the surrender of
this Warrant  (properly  endorsed if required)  at the  principal  office of the
Company at 1265 Harbor Parkway, Alameda,  California 94502 (or such other office
or agency of the Company as it may  designate by notice in writing to the Holder
at the address of the Holder  appearing on the books of the  Company),  and upon
payment to the  Company,  by cash or by  certified  check or bank draft,  of the
Exercise  Price for such  shares.  The Company  agrees that the shares of Common
Stock so  purchased  shall be deemed to be  issued to the  Holder as the  record
owner of such shares of Common  Stock as of the close of business on the date on

                                       9
<PAGE>

which this Warrant shall have been  surrendered and payment made for such shares
of Common  Stock as  aforesaid.  Certificates  for the shares of Common Stock so
purchased  (together with a cash  adjustment in lieu of any fraction of a share)
shall be delivered to the Holder within a reasonable  time,  not exceeding  five
(5) business days, after the rights  represented by this Warrant shall have been
so exercised,  and, unless this Warrant has expired, a new Warrant  representing
the number of shares of Common Stock, if any, with respect to which this Warrant
shall not then have been  exercised,  in all other respects  identical with this
Warrant,  shall also be issued and delivered to the Holder within such time, or,
at the request of the Holder,  appropriate  notation may be made on this Warrant
and the same returned to the Holder.

              (b) This Warrant may be  exercised to acquire,  from and after the
date  hereof,  the number of shares of Common  Stock set forth on the first page
hereof (subject to adjustments  described in this Warrant);  provided,  however,
the right hereunder to purchase such shares of Common Stock shall expire at 5:00
p.m. Alameda, California time on November 13, 2005.

         2. This Warrant is being issued by the Company pursuant to the terms of
the  Agreement  for  Commitment  to  Purchase  Aggregate  of  $10,000,000  of 5%
Promissory Notes dated as of November 13, 2003.

         3. The Company covenants and agrees that all Common Stock upon issuance
against  payment in full of the  Exercise  Price by the Holder  pursuant to this
Warrant will be validly issued,  fully paid and non-assessable and free from all
taxes, liens and charges with respect to the issue thereof (except to the extent
resulting  from the  Holder's  own  circumstances,  actions or  omissions).  The
Company  covenants  and agrees  that during the period  within  which the rights
represented by this Warrant may be exercised, the Company will have at all times
authorized,  and reserved for the purpose of issue or transfer  upon exercise of
the rights  evidenced by this Warrant,  a sufficient  number of shares of Common
Stock to provide for the exercise of the rights represented by this Warrant, and
will  procure  at its sole  expense  upon each such  reservation  of shares  the
listing  thereof  (subject  to  issuance  or  notice of  issuance)  on all stock
exchanges  on which the  Common  Stock is then  listed or  inter-dealer  trading
systems on which the Common Stock is then traded. The Company will take all such
action as may be  necessary to assure that such shares of Common Stock may be so
issued  without  violation  of  any  applicable  law  or  regulation,  or of any
requirements of any national securities exchange upon which the Common Stock may
be listed or  inter-dealer  trading  system  on which the  Common  Stock is then
traded.  The  Company  will  not take  any  action  which  would  result  in any
adjustment in the number of shares of Common Stock purchasable  hereunder if the
total  number of shares of Common Stock  issuable  pursuant to the terms of this
Warrant after such action upon full exercise of this Warrant and,  together with
all shares of Common Stock then  outstanding and all shares of Common Stock then
issuable  upon  exercise of all options and other  rights to purchase  shares of
Common Stock then outstanding, would exceed the total number of shares of Common
Stock  then  authorized  by the  Company's  Restated  and  Amended  Articles  of
Incorporation, as then amended.

                                       10
<PAGE>

         4. The  Initial  Exercise  Price is $0.80  per  share of  Common  Stock
("Initial  Exercise  Price").  The Initial  Exercise  Price shall be adjusted as
provided  for  below in this  Section 4 (the  Initial  Exercise  Price,  and the
Initial Exercise Price, as thereafter then adjusted, shall be referred to as the
"Exercise  Price")  and the  Exercise  Price  from time to time shall be further
adjusted as provided  for below in this Section 4. Upon each  adjustment  of the
Exercise Price, the Holder shall thereafter be entitled to receive upon exercise
of this Warrant,  at the Exercise  Price  resulting  from such  adjustment,  the
number of shares of Common Stock obtained by (i)  multiplying the Exercise Price
in effect immediately prior to such adjustment by the number of shares of Common
Stock  purchasable  hereunder  immediately  prior to such  adjustment,  and (ii)
dividing  the  product  thereof  by  the  Exercise  Price  resulting  from  such
adjustment. The Exercise Price shall be adjusted as follows:

                  (i) In the case of any amendment to the Company's  Articles of
         Incorporation  to change the  designation  of the  Common  Stock or the
         rights, privileges, restrictions or conditions in respect to the Common
         Stock or division of the Common  Stock,  this Warrant shall be adjusted
         so as to provide that upon exercise thereof,  the Holder shall receive,
         in lieu of each share of Common Stock  theretofore  issuable  upon such
         exercise,  the kind and amount of shares,  other securities,  money and
         property  receivable upon such  designation,  change or division by the
         Holder   issuable  upon  such   exercise  had  the  exercise   occurred
         immediately prior to such designation, change or division. This Warrant
         shall be deemed  thereafter to provide for adjustments,  which shall be
         as nearly equivalent as may be practicable to the adjustments  provided
         for in this Section 4. The  provisions  of this  Subsection  4(i) shall
         apply in the same  manner  to  successive  reclassifications,  changes,
         consolidations and mergers.

                  (ii)  If  the  Company   shall  at  any  time   subdivide  its
         outstanding  shares of Common Stock into a greater  number of shares of
         Common Stock, or declare a dividend or make any other distribution upon
         the Common Stock payable in shares of Common Stock,  the Exercise Price
         in effect  immediately  prior to such  subdivision or dividend or other
         distribution shall be proportionately reduced, and conversely,  in case
         the outstanding shares of Common Stock shall be combined into a smaller
         number  of  shares  of  Common  Stock,  the  Exercise  Price in  effect
         immediately  prior  to  such  combination   shall  be   proportionately
         increased.

                  (iii) If any capital reorganization or reclassification of the
         capital  stock of the Company,  or any  consolidation  or merger of the
         Company with or into another  corporation or other entity,  or the sale
         of  all  or  substantially  all  of the  Company's  assets  to  another
         corporation  or  other  entity  shall  be  effected  in such a way that
         holders of shares of Common  Stock shall be entitled to receive  stock,
         securities,  other evidence of equity  ownership or assets with respect
         to or in exchange for shares of Common  Stock,  then, as a condition of
         such reorganization,  reclassification,  consolidation,  merger or sale
         (except as  otherwise  provided  below in this  Section 4),  lawful and
         adequate  provisions  shall be made whereby the Holder shall thereafter
         have the right to receive upon the  exercise  hereof upon the basis and
         upon the terms and conditions  specified herein,  such shares of stock,

                                       11
<PAGE>

         securities,  other  evidence  of equity  ownership  or assets as may be
         issued  or  payable  with  respect  to or in  exchange  for a number of
         outstanding  shares of such Common  Stock equal to the number of shares
         of Common Stock immediately theretofore purchasable and receivable upon
         the   exercise  of  this   Warrant   under  this  Section  4  had  such
         reorganization,  reclassification,  consolidation,  merger  or sale not
         taken place, and in any such case appropriate  provisions shall be made
         with respect to the rights and  interests of the Holder to the end that
         the provisions hereof (including,  without  limitation,  provisions for
         adjustments of the Exercise Price and of the number of shares of Common
         Stock receivable upon the exercise of this Warrant) shall thereafter be
         applicable,  as nearly as may be, in  relation  to any shares of stock,
         securities,  other  evidence of equity  ownership or assets  thereafter
         deliverable   upon  the  exercise   hereof   (including   an  immediate
         adjustment,  by reason of such consolidation or merger, of the Exercise
         Price to the value for the Common Stock  reflected by the terms of such
         consolidation  or  merger if the  value so  reflected  is less than the
         Exercise Price in effect  immediately  prior to such  consolidation  or
         merger). Subject to the terms of this Warrant, in the event of a merger
         or  consolidation  of the Company with or into another  corporation  or
         other  entity as a result of which the number of shares of common stock
         of the  surviving  corporation  or other entity  issuable to holders of
         Common Stock,  is greater or lesser than the number of shares of Common
         Stock  outstanding  immediately  prior to such merger or consolidation,
         then the Exercise Price in effect  immediately  prior to such merger or
         consolidation shall be adjusted in the same manner as though there were
         a subdivision or combination of the outstanding shares of Common Stock.
         The Company  shall not effect any such  consolidation,  merger or sale,
         unless, prior to the consummation  thereof,  the successor  corporation
         (if other than the Company) resulting from such consolidation or merger
         or the  corporation  purchasing  such  assets  shall  assume by written
         instrument  executed  and  mailed  or  delivered  to  the  Holder,  the
         obligation  to deliver to the Holder such shares of stock,  securities,
         other evidence of equity ownership or assets as, in accordance with the
         foregoing  provisions,  the  Holder  may  be  entitled  to  receive  or
         otherwise acquire.  If a purchase,  tender or exchange offer is made to
         and  accepted by the  holders of more than fifty  (50%)  percent of the
         outstanding  shares of Common  Stock,  the Company shall not effect any
         consolidation, merger or sale with the person having made such offer or
         with any affiliate of such person,  unless prior to the consummation of
         such  consolidation,  merger or sale the Holder of this  Warrant  shall
         have been given a reasonable  opportunity to then elect to receive upon
         the  exercise of this  Warrant the amount of stock,  securities,  other
         evidence of equity  ownership or assets then  issuable  with respect to
         the number of shares of Common Stock in accordance with such offer.

                  (iv) In case the Company shall,  at any time prior to exercise
         of this Warrant,  consolidate  or merge with any other  corporation  or
         other  entity  (where  the  Company  is not the  surviving  entity)  or
         transfer  all  or  substantially   all  of  its  assets  to  any  other
         corporation  or other entity,  then the Company  shall,  as a condition
         precedent to such transaction,  cause effective provision to be made so
         that the Holder of this Warrant upon the exercise of this Warrant after

                                       12
<PAGE>

         the effective date of such transaction shall be entitled to receive the
         kind and amount of  shares,  evidences  of  indebtedness  and/or  other
         securities or property  receivable on such  transaction  by a holder of
         the  number  of shares of Common  Stock as to which  this  Warrant  was
         exercisable  immediately  prior  to such  transaction  (without  giving
         effect to any restriction  upon such exercise);  and, in any such case,
         appropriate  provision  shall be made with  respect  to the  rights and
         interest of the Holder of this  Warrant to the end that the  provisions
         of this Warrant shall  thereafter  be  applicable  (as nearly as may be
         practicable)  with respect to any shares,  evidences of indebtedness or
         other securities or assets thereafter deliverable upon exercise of this
         Warrant.  Upon the  occurrence  of any event  described in this Section
         4(iv),  the holder of this Warrant shall have the right to (i) exercise
         this Warrant immediately prior to such event at an Exercise Price equal
         to lesser of (1) the then Exercise  Price or (2) the price per share of
         Common  Stock paid in such  event,  or (ii)  retain  ownership  of this
         Warrant, in which event,  appropriate  provisions shall be made so that
         the Warrant shall be exercisable at the Holder's  option into shares of
         stock,  securities  or  other  equity  ownership  of the  surviving  or
         acquiring entity.

              Whenever  the  Exercise  Price shall be adjusted  pursuant to this
Section 4, the Company shall issue a certificate signed by its President or Vice
President  and by its  Treasurer,  Assistant  Treasurer,  Secretary or Assistant
Secretary,  setting  forth,  in  reasonable  detail,  the  event  requiring  the
adjustment,  the amount of the  adjustment,  the method by which such adjustment
was  calculated  (including  a  description  of the  basis on which the Board of
Directors of the Company  made any  determination  hereunder),  and the Exercise
Price after  giving  effect to such  adjustment,  and shall cause copies of such
certificates to be mailed (by first-class  mail,  postage prepaid) to the Holder
of this  Warrant.  The Company  shall make such  certificate  and mail it to the
Holder promptly after each adjustment.

              No fractional shares of Common Stock shall be issued in connection
with any exercise of this Warrant,  but in lieu of such fractional  shares,  the
Company  shall make a cash payment  therefore  equal in amount to the product of
the applicable fraction multiplied by the Exercise Price then in effect.

         5. In the event the Company  grants rights  (other than rights  granted
pursuant to a  shareholder  rights or poison pill plan) to all  shareholders  to
purchase Common Stock,  the Holder shall have the same rights as if this Warrant
had been exercised immediately prior to such grant.

         6. The  shares of  Common  Stock  issuable  upon the  exercise  of this
Warrant shall have piggyback  rights for inclusion in a  registration  statement
filed by the Company  pursuant to a Form S-2 to be filed with the Securities and
Exchange Commission on or prior to May 1, 2004.

         7.  This  Warrant  need not be  changed  because  of any  change in the
Exercise Price or in the number of shares of Common Stock purchased hereunder.

                                       13
<PAGE>

         8. The terms defined in this paragraph,  whenever used in this Warrant,
shall,  unless the context  otherwise  requires,  have the  respective  meanings
hereinafter  specified.  The term  "Common  Stock"  shall mean and  include  the
Company's Common Stock, $0.03 par value per share, authorized on the date of the
original  issue  of  this  Warrant  and  shall  also  include  in  case  of  any
reorganization, reclassification, consolidation, merger or sale of assets of the
character  referred  to in  Section 4 hereof,  the stock,  securities  or assets
provided  for in such  paragraph.  The term  "Company"  shall also  include  any
successor corporation to Calypte Biomedical Corporation by merger, consolidation
or otherwise.  The term  "outstanding"  when used with reference to Common Stock
shall  mean at any  date as of which  the  number  of  shares  thereof  is to be
determined,  all issued shares of Common Stock, except shares then owned or held
by or for the  account  of the  Company.  The term  "1933  Act"  shall  mean the
Securities Act of 1933, as amended,  or any successor  Federal statute,  and the
rules and  regulations of the Securities and Exchange  Commission,  or any other
Federal agency then  administering  the 1933 Act,  there-under,  all as the same
shall be in effect at the time.

         9. This  Warrant  is  exchangeable,  upon the  surrender  hereby by the
Holder at the office or agency of the  Company,  for new  Warrants of like tenor
representing in the aggregate the right to subscribe for and purchase the number
of shares of Common Stock which may be subscribed  for and purchased  hereunder,
each of such new Warrants to represent  the right to subscribe  for and purchase
such number of shares of Common  Stock as shall be  designated  by the Holder at
the time of such surrender. Upon receipt of evidence satisfactory to the Company
of the loss,  theft,  destruction  or mutilation of this Warrant or any such new
Warrants and, in the case of any such loss, theft, or destruction, upon delivery
of a bond of indemnity,  reasonably satisfactory to the Company, or, in the case
of any such  mutilation,  upon surrender or cancellation of this Warrant or such
new Warrants,  the Company will issue to the Holder a new Warrant of like tenor,
in lieu  of this  Warrant  or such  new  Warrants,  representing  the  right  to
subscribe  for and  purchase  the number of shares of Common  Stock which may be
subscribed for and purchased hereunder.

         10. The Company  will at no time close its transfer  books  against the
transfer  of this  Warrant or of any shares of Common  Stock  issued or issuable
upon the exercise of this warrant in any manner which interferes with the timely
exercise  of this  Warrant.  This  Warrant  shall not  entitle the Holder to any
voting  rights or any rights as a  shareholder  of the  Company.  The rights and
obligations of the Company, of the Holder, and of any holder of shares of Common
Stock issuable hereunder, shall survive the exercise of this Warrant.

         11. This Warrant sets forth the entire agreement of the Company and the
Holder of the Common  Stock  issuable  upon the  exercise of this  Warrant  with
respect  to the rights of the Holder  and the  Common  Stock  issuable  upon the
exercise of this  Warrant,  notwithstanding  the knowledge of such Holder of any
other agreement or the provisions of any agreement,  whether or not known to the
Holder,  and the Company  represents  that there are no agreements  inconsistent
with the terms  hereof or which  purport  in any way to bind the  Holder of this
Warrant or the Common Stock.

                                       14
<PAGE>

         12. The laws of the State of  California  shall  govern  the  validity,
interpretation  and  performance  of this  Warrant  and  each of its  terms  and
provisions.

         IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by
its duly  authorized  officer under its corporate  seal and dated as of November
13, 2003.

CALYPTE BIOMEDICAL CORPORATION

By _____________________________________
   Name: Richard D. Brounstein
   Title: Executive Vice President & CFO

                                       15
<PAGE>

                          FORM OF ELECTION TO PURCHASE

(To be executed by the Holder to exercise the right to purchase shares of Common
Stock under the Warrant to which this form applies, issued by Calypte Biomedical
Corporation ("Calypte"))

To Calypte Biomedical Corporation:

         The undersigned  hereby  irrevocably  elects to purchase  _____________
shares of common  stock,  $0.03 par value per  share,  of Calypte  (the  "Common
Stock") and,  encloses  herewith  $________ in cash,  certified or official bank
check or checks,  which sum represents the aggregate  Exercise Price (as defined
in the  Warrant)  for the number of shares of Common Stock to which this Form of
Election to Purchase relates,  together with any applicable taxes payable by the
undersigned pursuant to the Warrant.

         The  undersigned  requests that  certificates  for the shares of Common
Stock issuable upon this exercise be issued in the name of

                                PLEASE INSERT SOCIAL SECURITY OR
                                TAX IDENTIFICATION NUMBER

                                (Please print name and address)

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

Dated:            ,             Name of Holder:
      ------------ -----

                           (Print)
                                    -----------------------------------------

                           (By:)
                                    -----------------------------------------
                           (Name:)
                                    -----------------------------------------
                           (Title:)
                                    -----------------------------------------
                                    (Signature  must  conform in all respects to
                                    name of holder as  specified  on the face of
                                    the Warrant)

<PAGE>

                               FORM OF ASSIGNMENT

[To be completed and signed only upon transfer of Warrant]

         FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto  ________________________________  the  right  represented  by  the  within
Warrant to purchase  ____________  shares of Common Stock of Calypte  Biomedical
Corporation  to which the within Warrant  relates and appoints  ________________
attorney to transfer said right on the books of Calypte  Biomedical  Corporation
with full power of substitution in the premises.

Dated:

---------------, ----

                                    --------------------------------------------
                                    (Signature  must  conform in all respects to
                                    name of holder as  specified  on the face of
                                    the Warrant)

                                    --------------------------------------------
                                    Address of Transferee

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

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

In the presence of:

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

                                       16
<PAGE>

                                    Exhibit D

                         Calypte Biomedical Corporation
                Summary of Accounts Payable and Accrued Expenses
                            As of September 30, 2003

Accounts  payable and accrued expenses as of September 30, 2003 consisted of the
following (in thousands):

                                                                 2003
                                                                 ----
Trade accounts payable                                       $   2,424
Accrued royalty payments                                           575
Accrued salary and vacation pay                                    237
Accrued interest (including non-cash penalties for
   delayed registration of $272)                                   294
Current portion of consulting contract liability                 1,054
Other                                                              373
                                                              --------
Total accounts payable and accrued expenses                   $  4,957
                                                              ========SUBLEASE (this "Sublease"), dated as of July 28, 2003, by and between
MONSTER WORLDWIDE, INC., a Delaware corporation, successor-by-merger to TMP
Worldwide Inc., a Delaware corporation, having an office at 622 Third Avenue,
38th Floor, New York, New York 10017 ("Sublandlord"), and ASBURY AUTOMOTIVE
GROUP, INC., a Delaware corporation having an address at 622 Third Avenue, 37th
Floor, New York, New York 10017 ("Subtenant").

                              W I T N E S S E T H:

         WHEREAS, pursuant to a lease ("Original Lease") by and between 622
Third Avenue Company, LLC, successor-in-interest to 622 Building Company LLC, a
New York limited liability company ("Landlord"), as landlord, and Sublandlord,
as tenant, dated December 13, 1999, as amended by that certain Commencement Date
Agreement dated as of February 16, 2000 (the Original Lease, as the same has
been amended by such Commencement Date Agreement, and as may hereafter be
amended, the "Master Lease"), Landlord did demise and let unto Sublandlord, and
Sublandlord did hire and take from Landlord, certain premises as more
particularly identified in the Master Lease (collectively, the "Leased
Premises"), in a building known as and by the street address of 622 Third
Avenue, New York, New York (the "Building"); and

         WHEREAS, Subtenant acknowledges and represents that it has received and
reviewed the Master Lease, a current copy of which is attached hereto as Exhibit
A and made a part hereof, except as hereinafter provided; and

         WHEREAS, Sublandlord wishes to sublet to Subtenant, and Subtenant
desires to hire and rent from Sublandlord a portion of the Leased Premises being
the entire 37th floor as more particularly shown on Exhibit B attached hereto
(the "Premises"), and Subtenant is desirous of hiring and taking the Premises
from Sublandlord, upon the terms, covenants and conditions hereinafter set
forth;

         NOW, THEREFORE, in consideration of the mutual covenants and promises
herein contained, and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, Sublandlord and Subtenant hereby
agree as follows:

1.  TERM. Sublandlord hereby subleases to Subtenant, and Subtenant hereby
    hires from Sublandlord, the Premises for the purposes set forth in
    Section 4.01 of the Master Lease for a term commencing on the later of
    the date (i) the parties hereto execute and deliver this Sublease, and
    (ii) Sublandlord receives Landlord's written consent to this Sublease
    as set forth in paragraph 16 of this Sublease (such later date being
    the "Commencement Date"), and ending, unless sooner terminated pursuant
    to any of the provisions of the Master Lease, this Sublease or pursuant
    to applicable law, on September 29, 2015 at 5:00 p.m. E.S.T.
    ("Expiration Date"), upon the terms and conditions set forth in this
    Sublease. If the term of the Master Lease is terminated prior to the
    Expiration Date, this Sublease shall thereupon be terminated
    automatically, unless Subtenant has a separate agreement with Landlord
    to the contrary, and Sublandlord shall not be liable to Subtenant by
    reason thereof unless (i) and to the extent that said termination shall
    have been effected because of, or shall have resulted from, the breach
    or default of Sublandlord, as tenant, under the Master Lease with
    respect to an obligation not assumed by Subtenant under this Sublease,
    or (ii) said termination shall have been effected because of, or shall
    have resulted from, a breach or default by Sublandlord beyond
    applicable notice and cure periods under this Sublease. In such event,
    the Rent (hereinafter defined) for the month in which such termination
    occurs shall be pro-rated based on the actual number of days in such
    month unless such termination was the result of a default by Subtenant
    hereunder. The provisions of this paragraph 1 shall be regarded as an
    "express provision to the contrary" within the meaning of Section 223-a
    of the Real Property Law of the State of New York.

2.  BASE RENT. Subtenant shall pay to Sublandlord as and for base rent
    ("Base Rent") for the Premises the amounts set forth on Exhibit C
    attached hereto and made a part hereof, payable in advance and without
    notice or demand, commencing on the Commencement Date and at least
    three (3) days prior to the first day of each month during the term of
    this Sublease, except that Subtenant shall pay to Sublandlord the first
    full monthly installment with Subtenant's execution and return of this
    Sublease.

3.  ADDITIONAL RENT.

(a) In addition to the Base Rent set forth above, commencing on the
    Commencement Date, Subtenant shall pay to Sublandlord as additional
    rent ("Additional Rent"), the following:

    (i)  additional rent equal to twenty five percent (25%) ("Subtenant's
    Proportionate Share") of all amounts payable by Sublandlord, if any,
    pursuant to the Master Lease for porters wage rate escalations (as set
    forth in Article 22 of the Master Lease), except that for purposes of
    this Sublease the Base Wage Rate (as defined in the Master Lease) shall
    be the Base Wage Rate in effect for calendar year 2003;

    (ii) additional rent equal to Subtenant's Proportionate  Share of all
    amounts  payable by  Sublandlord  on account of electricity, as set forth
    in Article 23 of the Master Lease, except that Subtenant shall have
    the right,  at any time  during the term of this Sublease, at Subtenant's
    sole cost and expense and in accordance  with all laws and  requirements of
    governmental  authority and in compliance with the Master Lease, to install
    a submeter which measures  consumption  of electricity  within the Premises
    only,  and, upon the installation and commencement of operation thereof
    Subtenant shall no longer be required to pay to Sublandlord Subtenant's
    Proportionate Share of electricity  charges and shall thereafter commence
    paying for  electricity  usage as measured by such submeter to Sublandlord
    based upon the actual readings as shown on such meter from time-to-time.
    Subtenant,  at its sole cost and expense,  shall be required to maintain
    said meter in good operating condition;

    (iii) additional rent equal to Subtenant's Proportionate Share of any Real
    Estate Taxes (as defined in the Master Lease) as set forth in Section
    22.01 of the Master Lease, except that for purposes of this Sublease,
    Subtenant's Tax Base Factor shall be deemed to be actual Real Estate
    Taxes for the period July 1, 2003 to June 30, 2004;

    (iv) additional rent equal to Subtenant's Proportionate Share of any and all
    additional rent payable by Sublandlord under any other provisions of
    the Master Lease to the extent the same relates to the Premises or is
    incurred by Subtenant;

    (v) the cost of any additional services or materials requested of Landlord
    by or on behalf or at the request of Subtenant; and

    (vi) any other amounts payable by Subtenant pursuant to the provisions of
    this Sublease.

(b) The aforesaid Additional Rent shall be payable by Subtenant to
    Sublandlord upon the later of (i) five (5) days prior to the date
    Sublandlord, as tenant under the Master Lease, is required to make a
    corresponding payment, if any, for each item of Additional Rent, to the
    Landlord, or (ii) twenty (20) days after presentation by Sublandlord to
    Subtenant of the bills therefor, whether issued during or after the
    term of this Sublease. This paragraph 3 shall survive the expiration or
    earlier termination of this Sublease.

(c) Base Rent and Additional Rent is referred to in this Sublease
    collectively as "Rent".

4.  PAYMENT OF RENT. All Rent shall be paid to Sublandlord, or as
    Sublandlord may direct by notice to Subtenant, in lawful money of the
    United States of America which shall be legal tender for payment of all
    debts and dues, public and private, at the time of payment, at the
    principal office of Sublandlord, or such other place as Sublandlord may
    by notice designate, without any abatement, deduction, set-off or
    counterclaim whatsoever, except to the extent expressly provided in
    this Sublease or incorporated herein from the Master Lease. Sublandlord
    shall have the same remedies for default in the payment of Additional
    Rent as for default in the payment of Base Rent.

5.  CONDITION OF PREMISES.

(a) The Premises are hereby sublet and shall be delivered to Subtenant
    "as-is" on the date hereof. The execution and delivery of this Sublease
    by Subtenant shall be conclusive evidence that the Subtenant has
    inspected the Premises and found them to be satisfactory for
    Subtenant's occupancy as of the date of this Sublease.

(b) Neither Sublandlord nor Sublandlord's agents or representatives have
    made any representations, warranties or promises with respect to the
    condition, quality, permitted use, restrictions, value or adequacy of
    the Premises and no rights, easements or licenses are granted by
    Sublandlord or acquired by Subtenant, by implication or otherwise,
    except as expressly set forth in this Sublease.

6.  RIGHTS OF SUBTENANT. Subtenant shall be entitled to the benefit of all
    of the rights and remedies of the tenant and all of the obligations of
    Landlord pursuant to the Master Lease with respect to the Building
    (other than the Leased Premises not included in the Premises) and the
    Premises including, but not limited to, Landlord's obligations to
    repair and restore and provide or render work and services, if any, and
    Subtenant acknowledges and agrees that such obligations are and shall
    be the responsibility of Landlord and not those of Sublandlord. In the
    event Landlord shall fail or refuse to comply with any of the terms of
    the Master Lease affecting the Premises or the use or occupancy thereof
    by Subtenant or anyone claiming by, under or through Subtenant,
    Subtenant may notify Sublandlord, and Sublandlord, at Subtenant's
    request, shall take any action reasonably requested by Subtenant in
    accordance with the Master Lease to enforce the provisions of the
    Master Lease against Landlord, all at Subtenant's cost and expense
    (unless the Landlord's failure or refusal to comply is as a result of
    Sublandlord's default under the Master Lease with respect to an
    obligation not assumed by Subtenant under this Sublease). If
    Sublandlord shall fail take any action reasonably requested by
    Subtenant to enforce the obligations of Landlord with respect to the
    Premises, as set forth above, then, upon seven (7) days notice to
    Sublandlord, Subtenant shall have the right, in its own name (and in
    the name of the Sublandlord, if Subtenant shall have obtained
    Sublandlord's prior written approval of the use of its name, not to be
    unreasonably withheld or delayed, and Subtenant shall indemnify and
    hold Sublandlord harmless from and against any and all damages, losses,
    penalties, fines, costs or expenses, including, without limitation,
    reasonable attorneys' fees and costs, which Sublandlord may incur or be
    subject to as a result of any action taken by Subtenant in accordance
    with this paragraph), and at its own cost, to compel performance by
    Landlord pursuant to the terms of the Master Lease. Subtenant shall
    have no claim against Sublandlord by reason of Landlord's failure or
    refusal to comply with any of the terms of the Master Lease and no such
    failure or refusal shall be deemed a constructive eviction hereunder
    (unless the Landlord's failure or refusal to comply is as a result of
    Sublandlord's default under the Master Lease with respect to an
    obligation not assumed by Subtenant under this Sublease). This Sublease
    shall remain in full force and effect notwithstanding Landlord's
    failure or refusal to comply with any of the terms of the Master Lease,
    and Subtenant shall pay the Rent provided in this Sublease without any
    abatement, deduction, set-off or counterclaim, Subtenant's sole remedy
    being the right to have Sublandlord enforce the provisions of the
    Master Lease against Landlord at Subtenant's cost as set forth above.
    Subtenant shall look solely to Landlord (i) to provide any and all
    services and utilities required to be provided by Landlord under the
    Master Lease, (ii) to make any of the repairs or restorations that
    Landlord has agreed to make under the Master Lease, (iii) to comply
    with any laws or requirements of public authorities with which Landlord
    has agreed in the Master Lease to comply, and (iv) to take any action
    with respect to the operation, administration, or control of the
    Building or any of its public or common areas that the Landlord has
    agreed in the Master Lease to take; and Subtenant shall not, under any
    circumstances, seek to require or require Sublandlord to provide any of
    such services or utilities, make such repairs or restorations, comply
    with such laws or requirements, or take such action, nor shall
    Subtenant make any claim upon Sublandlord for any damages, costs or
    expenses which arise by reason of the negligence, whether by omission
    or commission, or intentional, willful or tortious acts of Landlord,
    unless Subtenant is not permitted to make such claim directly against
    Landlord (in which case any judgment obtained by Subtenant with respect
    to same shall be satisfied solely out of any recovery Sublandlord may
    obtain from Landlord with respect to same, and not out of the personal
    assets of Sublandlord), or unless Sublandlord fails to perform its
    obligations under this paragraph 6 with respect thereto. Furthermore,
    Sublandlord shall have no liability to Subtenant by reason of any
    inconvenience, annoyance, interruption or injury to business or
    operations arising from Landlord's making any repairs, alterations or
    changes which Landlord is required or permitted by the Master Lease, or
    required by law, to make in or to any portion of the Building and/or
    the Premises, or in or to the fixtures, equipment or appurtenances of
    the Building and/or the Premises.

7.  REMEDIES. In addition to such rights and remedies as it may have
    pursuant to applicable law, if Subtenant shall default under this
    Sublease, Sublandlord shall have against Subtenant all of the rights
    and remedies granted to Landlord pursuant to the Master Lease in the
    event of a default by Sublandlord, as tenant under the Master Lease. In
    addition to the other rights Sublandlord may have under the Master
    Lease (as incorporated in this Sublease), this Sublease or pursuant to
    applicable law, if Subtenant shall default under this Sublease beyond
    the expiration of any applicable notice and cure periods, then
    Sublandlord shall have the right, but not the obligation, without
    notice to Subtenant in a case of emergency and otherwise after seven
    (7) days notice to Subtenant, without waiving or releasing Subtenant
    from any obligations hereunder, to perform any such obligation of
    Subtenant in such manner and to such extent as Sublandlord shall
    reasonably deem necessary. Subtenant shall pay to Sublandlord within
    twenty (20) days after notice from Sublandlord (with reasonable
    evidence of the amounts incurred), any and all actual, reasonable costs
    incurred by Sublandlord in so doing, including, without limitation,
    reasonable attorneys' fees and costs, together with interest thereon
    (compounded monthly) at a rate of interest equal to the lesser of
    twelve percent (12%) per annum or the highest legal rate from the date
    such costs were incurred until the date Sublandlord is reimbursed.

8.  PROVISIONS OF THE MASTER LEASE.

(a) This Sublease is in all respects subject to the terms and conditions of
    the Master Lease. Except as otherwise provided in this Sublease, the
    terms, provisions, covenants, stipulations, conditions, rights,
    obligations, remedies and agreements contained in the Master Lease are
    incorporated in this Sublease by reference and are made a part hereof
    as if herein set forth at length and each and every provision, term,
    condition and covenant of the Master Lease binding upon or inuring to
    the benefit of Landlord thereunder shall, in respect of this Sublease,
    bind or inure to the benefit of Sublandlord against Subtenant, and each
    provision of the Master Lease binding upon or inuring to the benefit of
    Sublandlord, as tenant thereunder shall, in respect of this Sublease,
    bind or inure to the benefit of Subtenant against Sublandlord, with the
    same force and effect as though those provisions were completely set
    forth in this document. For the purpose of incorporation by reference
    of provisions of the Master Lease into this Sublease, the words
    "Lessor" or "Landlord" or "Owner" (whether or not capitalized) wherever
    used in the Master Lease, shall be construed to mean "Sublandlord" and
    the words "Lessee" or "Tenant" (whether or not capitalized) wherever
    used in the Master Lease shall be construed to mean "Subtenant", and
    the words "Premises" or "Demised Premises" (whether or not
    capitalized), or words of similar import, wherever used in the Master
    Lease, shall be construed to mean "Premises" as defined in this
    Sublease, the words "Agreement", "lease", "Lease", or words of similar
    import, wherever they appear in the Master Lease, shall be construed to
    mean this Sublease, the word "rent" and words of similar import,
    wherever used in the Master Lease, shall be construed to mean the Rent
    payable under this Sublease, the words "term", "Commencement Date" and
    "Expiration Date", or words of similar import, wherever used in the
    Master Lease, shall be construed to mean, respectively, the term of
    this Sublease and the dates set for the beginning and the end of the
    term of this Sublease, and the words "sublease", "sublet" or
    "subtenant", or words of similar import, wherever used in the Master
    Lease, shall be construed to refer to sub-subleases, sub-sublettings
    and sub-subtenants, respectively, and any prohibitions on assignment of
    the Master Lease by Sublandlord, as tenant under the Master Lease,
    shall be deemed to prohibit Subtenant from assigning this Sublease. To
    the maximum extent possible, the provisions of the Master Lease
    incorporated by reference into this Sublease shall be construed as
    consistent with and complementary to the other provisions of this
    Sublease, but in the event of any inconsistency, those provisions of
    this Sublease not incorporated by reference from the Master Lease shall
    control. Subtenant covenants and agrees to perform and observe and to
    be bound by, all terms, covenants, obligations and conditions of the
    Master Lease and the use thereof applicable to the tenant thereunder
    except as provided to the contrary in this Sublease. Notwithstanding
    anything in this Sublease to the contrary, Subtenant covenants and
    agrees not to do or commit or suffer to be done or committed or fail to
    do any acts or things, or create or suffer to be created, any
    conditions that might create or result in a default or breach on the
    part of Sublandlord under any of the terms, covenants or conditions of
    the Master Lease or render Sublandlord liable for any charge, cost or
    expense thereunder.

(b) Notwithstanding anything in this Sublease to the contrary, for purposes
    of incorporation by reference into this Sublease, the following
    provisions of the Master Lease are deemed deleted from the Master Lease
    and are expressly not incorporated into this Sublease, except as
    otherwise provided below in this subsection (b):

    Article 1; Sections 2.01, 2.02, 2.04, 3.01, 3.02, 3.03, 4.04 (the final
    sentence only), 5.01 (to the extent that it obligates Subtenant to make
    supervisory payments to Sublandlord in addition to those payable to
    Landlord), 5.05 (only the portions of the final sentence thereof
    beginning with "provided that" and thereafter), 8.01(a) (the second
    sentence only), and 8.01(d); 11.09 (the reference therein to September
    30, 1999 only, provided that the date of this Sublease is substituted
    in its place and stead); Article 24; Section 25.01 (only the fourth
    sentence and the remainder of such Section); Section 25.04 (to the
    extent it applies to any future sub-subtenants of Subtenant); Section
    30.02 (the final sentence thereof only); Article 31; and Articles 37,
    38, 39 and 42.

    For purposes of the following provisions of the Master Lease, the term
    "Landlord", as used therein, shall mean Landlord only and not
    Sublandlord;

    Section 6.02; Sections 8.01(c) and 8.04; Article 10 (to the extent the
    "Landlord" therein has any obligation to restore or repair damage);
    Article 14 (to the extent the "Landlord" therein has any obligation to
    repair or restore the Building or any portion thereof); Article 15; and
    Article 21.

(c) In order to facilitate the coordination of the provisions of this
    Sublease with those of the Master Lease, the time periods contained in
    the provisions of the Master Lease that are incorporated by reference
    into this Sublease and for which the same action must be taken under
    both the Master Lease and this Sublease (such as, for example and
    without limitation, the time period for the curing of a default under
    this Sublease that is also a default under the Master Lease, or for the
    response to a request by Subtenant to Sublandlord which also requires
    Landlord's consent), are changed for the purpose of incorporation by
    reference by shortening or lengthening, as appropriate, that period in
    each instance by two (2) business days such that in each instance
    Subtenant shall have that much less time to observe or perform
    hereunder than Sublandlord has, as the tenant under the Master Lease,
    and Sublandlord shall have that much more time to observe, perform,
    consent, approve, or otherwise act hereunder than Landlord has under
    the Master Lease.

9.  INSURANCE.

(a) Subtenant shall, at its expense, obtain and keep in force and effect
    during the term of this Sublease such insurance as is required to be
    carried by Sublandlord as tenant under the Master Lease. Such insurance
    shall name Sublandlord, Landlord and such other persons as Sublandlord
    shall designate as additional insureds.

(b) On or prior to the date Subtenant first enters into the Premises
    (whether or not for the commencement of its ordinary business in the
    Premises), Subtenant shall deliver to Sublandlord appropriate
    certificates of insurance, including evidence of the waiver of
    subrogation required pursuant to Section 9.04 of the Master Lease and
    covering Subtenant's contractual indemnity pursuant to paragraph 10 of
    this Sublease, and the insurance required to be carried by Subtenant
    pursuant to this paragraph 9. Evidence of each renewal or replacement
    of a policy shall be delivered to Sublandlord at least thirty (30) days
    prior to the expiration of such policy.

10. INDEMNITY. In addition to any indemnification provisions incorporated
    herein from the Master Lease, Subtenant shall indemnify Landlord and
    Sublandlord, and Landlord's and Sublandlord's respective members,
    directors, officers, shareholders, employees, agents, lenders and
    managing agents ("Sublandlord Indemnified Parties") against, and hold
    the Sublandlord Indemnified Parties harmless from, all claims, damages,
    losses, liabilities, costs and expenses (including reasonable
    attorneys' fees and disbursements and court costs) which any of the
    Sublandlord Indemnified Parties may incur, pay or be subject to by
    reason of (i) the non-performance or non-observance by Subtenant of the
    terms, covenants, obligations and conditions of this Sublease or the
    Master Lease (as applicable to Subtenant), and (ii) any tortious act or
    negligence on the part of Subtenant, its agents, contractors, servants,
    employees, invitees or licensees, and any claims made or damages
    suffered or incurred as a result of Subtenant's or its agents,
    contractors, servants, employees, invitees or licensees, occupancy of
    the Premises and/or the Building.

11. BROKER. Subtenant and Sublandlord hereby represent and warrant to each
    other that neither has dealt with any broker or real estate agent in
    connection with this Sublease other than Newmark & Company Real Estate,
    Inc. ("Newmark") and The Georgetown Group (collectively, "Broker").
    Subtenant and Sublandlord hereby agree to indemnify, defend and hold
    the other harmless from and against any and all claims, losses,
    liabilities, costs and expenses (including reasonable attorneys' fees
    and disbursements), resulting from any claims that may be made against
    the other by any brokers, agents or persons claiming a commission, fee
    or other compensation by reason of this Sublease, other than Broker, if
    the same shall arise or result or claim to arise or result by, through
    or on account of any act of the Subtenant or Sublandlord, as the case
    may be. Sublandlord shall pay any fees due Broker in accordance with a
    separate agreement between Sublandlord and Newmark.

12. SUBORDINATION. This Sublease is subject and subordinate to the Master
    Lease as well as to all of the instruments and matters to which the
    Master Lease is subordinate. If Landlord shall take over all right,
    title and interest of Sublandlord under this Sublease, Subtenant shall
    attorn to Landlord pursuant to the then executory provisions of this
    Sublease, except that Landlord shall not (i) be liable for any previous
    act or omission of Sublandlord under this Sublease, (ii) be subject to
    any offset, not expressly provided in this Sublease, which thereto
    accrued to Subtenant against Sublandlord, or (iii) be bound by any
    previous modification of this Sublease not delivered to Landlord or by
    any previous prepayment by Subtenant of more than one month's Rent.

13. NOTICES. Any notice or other communication by either party to the other
    relating to this Sublease (other than a bill or statement for Rent due
    sent by Sublandlord, provided that this provision shall not be deemed
    to require Sublandlord to send any bill or statement of Rent due) shall
    be in writing and shall be deemed to have been duly given upon receipt
    when delivered to the recipient party in person (against signed
    receipt) or three (3) days after being mailed by United States
    Registered or Certified Mail, return receipt requested, postage
    prepaid, or the next business day when sent by nationally recognized
    overnight courier regularly maintaining a record of receipt, and
    addressed: (a) if to Sublandlord, at the address hereinabove set forth,
    Attention: General Counsel and Director of Real Estate, with a copy
    sent in the same manner to Mr. Arthur H. Lerner, Vice Chairman, Newmark
    & Company Real Estate, Inc., 125 Park Avenue, New York, New York 10017,
    and to Fulbright & Jaworski L.L.P., 666 Fifth Avenue, New York, New
    York, 10103, Attention: Kevin C. George, Esq. or (b) if to Subtenant
    prior to its initial occupancy of the Premises, at 3 Landmark Square,
    Suite 500, Stamford, Connecticut 06901, and after its initial occupancy
    of the Premises at the address hereinabove set forth, in either case,
    with a copy sent in the same manner to Schulte Roth & Zabel LLP, 919
    Third Avenue, New York, NY 10022, Attention: Robert F. Nash, Esq.
    Either party may by notice to the other party designate a different
    address within the United States to which notices shall be sent.

14. ASSIGNMENT AND SUBLETTING. In addition to any restrictions on
    subleasing and/or assigning set forth in the Master Lease and
    incorporated into this Sublease by reference, Subtenant expressly
    covenants and agrees that it shall not assign, mortgage, pledge or
    encumber this Sublease nor sublet the Premises or any part thereof, nor
    suffer or permit the Premises or any part thereof to be used or
    occupied by others, except with the prior written consent of Landlord,
    to the extent required under the Master Lease, and of Sublandlord,
    which consent Sublandlord agrees not to unreasonably withhold, delay or
    condition provided Landlord has consented (if required under the Master
    Lease). If this Sublease be assigned, or if the Premises or any part
    thereof be sublet or occupied by anyone other than Subtenant,
    Sublandlord may, after default by Subtenant, collect rent from the
    assignee, subtenant or occupant, and apply the net amount collected to
    the Rent reserved in this Sublease, but no such assignment, subletting,
    occupancy, or collection by Sublandlord shall be deemed a waiver of the
    covenant set forth above or the acceptance of the assignee, subtenant
    or occupant as subtenant or a release of Subtenant from the further
    performance by Subtenant of covenants and agreements on the part of
    Subtenant contained in this Sublease. Sublandlord covenants and agrees
    to respond to any request for consent from Subtenant pursuant to this
    paragraph 14 within the same period of time as the Landlord has to
    respond to such a request from Sublandlord, as tenant under the Master
    Lease.

15. HOLDOVER. Subtenant expressly assumes the obligations of Sublandlord to
    Landlord in the event possession of the Premises is not surrendered at
    the Expiration Date or sooner termination of the term of this Sublease,
    including, without limitation, the payment to Sublandlord of two (2)
    times the monthly minimum rent payable under the Master Lease for the
    month prior to such termination, as set forth in Section 28.02 of the
    Master Lease, and all additional rent payable pursuant to the Master
    Lease, as well as payment to the Landlord of any damages and costs,
    including, without limitation, reasonable attorney's fees, payable by
    Sublandlord as a result thereof, except that to the extent any other
    subtenant of Sublandlord and/or Sublandlord also holds over in the
    Leased Premises after the Expiration Date, then the amounts payable by
    Subtenant under this paragraph 15 shall be apportioned (i) among
    Subtenant and any other subtenants of Sublandlord so holding over
    equally for so long as such parties shall all be holding over, and (ii)
    among Subtenant, any other subtenants of Sublandlord and Sublandlord so
    holding over for so long as such parties shall be holding over based on
    such parties' proportionate share of the Leased Premises then being
    subleased by such party, in the case of Subtenant and any other
    subtenants, and then being occupied in the case of Sublandlord.

16. CONSENT OF LANDLORD. This Sublease is subject to the written consent
    ("Consent") of Landlord to (a) this Sublease, and (b) Subtenant's
    performance of the work described on Exhibit D attached hereto and made
    a part hereof, and notwithstanding the execution of this Sublease by
    the parties hereto, the term of this Sublease shall not commence until
    Sublandlord receives Landlord's Consent. Subtenant agrees to provide to
    Landlord promptly, any financial information of Subtenant reasonably
    requested by Landlord in connection with the issuance of such consent
    or evaluation of Subtenant. If Landlord fails to deliver the Consent,
    on Landlord's standard form and otherwise reasonably satisfactory to
    Sublandlord and Subtenant, within thirty (30) days after this Sublease
    is fully-executed by the parties hereto Subtenant shall have the right,
    commencing on such thirtieth (30th) day and for a period of two (2)
    days thereafter, time being of the essence, to terminate this Sublease
    by notice to Sublandlord during such period and prior to receipt of the
    Consent by Sublandlord, and receive a refund of all amounts paid by
    Subtenant to Sublandlord on account of this Sublease, without any
    deduction or setoff whatsoever and no further liability on the part of
    Sublandlord or Subtenant under this Sublease.

17. ENTIRE AGREEMENT/SUBLANDLORD'S CONSENT. This Sublease contains the
    entire agreement between the parties relating to the subject matter
    hereof and supersedes all prior negotiations, conversations,
    correspondence and agreements. There are no representations or
    warranties that are not set forth herein. No waiver, modification or
    termination of this Sublease or any portion thereof shall be valid or
    effective unless in writing signed by the parties hereto. In any
    instance in which Sublandlord is required by any provision of this
    Sublease or applicable law not unreasonably to withhold consent or
    approval, Subtenant's sole remedy if Sublandlord unreasonably withholds
    such consent or approval shall be an action for specific performance or
    injunction requiring Sublandlord to grant such consent or approval, all
    other remedies which would otherwise be available being hereby waived
    by Subtenant.

18. SUCCESSORS AND ASSIGNS. The terms, conditions and covenants of this
    Sublease shall be binding on and inure to the benefit of Sublandlord
    and Subtenant and their respective successors, and except as otherwise
    provided in this Sublease, their assigns.

19. GOVERNING LAW. This Sublease shall be governed by and construed in
    accordance with the laws of the State of New York as if it were a
    contract negotiated, entered into and wholly performed within the State
    of New York.

20. COUNTERPARTS. This Sublease may be executed in any number of
    counterparts and/or by facsimile, each of which shall be deemed an
    original and all of which, when taken together, shall constitute one
    and the same instrument, binding on the parties as if all parties had
    signed one document on the same signature page, and the signature of
    any party to any counterpart shall be deemed a signature to, and may be
    appended or attached to, any other counterpart by Sublandlord.

21. NO OFFER. The submission of this Sublease is not and shall not be
    deemed an offer. This Sublease is submitted to Subtenant for its review
    and discussion purposes only and neither Subtenant nor Sublandlord
    shall be bound unless and until Subtenant and Sublandlord shall execute
    and deliver a copy of this Sublease.

22. SECURITY.

(a) Subtenant shall, upon its execution and return of this Sublease to
    Sublandlord, deposit with Sublandlord as security for the full and
    faithful performance and observance by Subtenant of the terms,
    provisions, covenants and conditions of this Sublease, and any
    modifications hereof, the sum of $481,000.00 in cash ("Security").

(b) Sublandlord may, at its sole option, retain, use or apply the whole or
    any part of the Security to the extent required for payment of any:

    (1)  Base Rent;

    (2)  Additional Rent;

    (3)  other sums as to which Subtenant is obligated to pay under this
         Sublease;

    (4)  sums which Sublandlord may expend or may be required to expend by
         reason of Subtenant's default after any required notice and the
         expiration of any applicable grace or cure period under this Sublease;

    (5)  loss or damage that Sublandlord may suffer by reason of Subtenant's
         default, including, without limitation, any damages incurred by
         Sublandlord; and

    (6)  all costs, if any, incurred by Sublandlord in connection with the
         cleaning or repair of the Premises.

(c) In no event shall Sublandlord be obligated to apply the Security, or
    any portion thereof. Sublandlord's right to bring an action or special
    proceeding to recover damages or otherwise to obtain possession of the
    Premises before or after any default or termination of this Sublease
    shall not be affected by Sublandlord's holding of the Security.

(d) The Security shall not be nor be deemed (1) a limitation on
    Sublandlord's damages or other rights and remedies available under this
    Sublease, or at law or in equity; (2) a payment of liquidated damages,
    or (3) an advance payment of Base Rent or Additional Rent.

(e) If Sublandlord uses, applies or retains all or any portion of the
    Security, Subtenant shall restore and replenish the Security to its
    original amount within five (5) days after written demand from
    Sublandlord.

(f) Sublandlord shall keep the Security separate or segregated from its own
    funds, and shall not commingle the Security with its own funds, as
    required by law. Sublandlord shall have no fiduciary responsibilities
    or trust obligations whatsoever with regard to the Security and shall
    not assume the duties of a trustee for the Security.

(g) Sublandlord shall maintain the Security in an interest bearing account,
    at a banking institution which maintains a place of business in New
    York State. Subtenant shall be entitled to receive and retain all
    interest that accrues thereon, less a one percent (1%) annual
    administration fee payable to Sublandlord in connection with the
    administration of such account, and Subtenant shall pay all taxes on
    said interest (except for said one percent (1%) annual administration
    fee). All interest earned on the Security to which Subtenant shall be
    entitled shall accrue and be maintained in the account in which the
    Security is maintained and constitute additional security hereunder for
    the term of this Sublease and shall be released to Subtenant at the
    expiration of this Sublease together with the Security, if and to the
    extent Subtenant is entitled to the Security, or any portion thereof,
    or such interest. Subtenant hereby authorizes Sublandlord to deduct
    from such interest-bearing account annually, the one percent (1%)
    administrative charge to which Sublandlord is entitled, without
    additional authorization or consent from Subtenant.

(h) If Subtenant shall fully and faithfully comply with all of the terms,
    provisions, covenants and conditions of this Sublease, and any
    modifications hereof, any part of the Security (or interest thereon)
    then not used, applied or retained by Sublandlord shall be returned to
    Subtenant within forty-five (45) days after Subtenant has discharged
    all of its then known obligations under this Sublease, and any
    modifications hereof. In no event shall the release of the Security, or
    any portion thereof, by Sublandlord be deemed to release Subtenant from
    any liability under this Sublease, or affect Subtenant's
    indemnification obligations under this Sublease, which arise, accrue or
    first become known to Sublandlord after the release of any remaining
    Security (or such interest thereon).

(i) Subtenant shall not, and shall not attempt to, assign, pledge or
    otherwise encumber the Security, and Sublandlord and its successors and
    assigns shall not be bound by any, or any attempted, assignment, pledge
    or other encumbrance.

(j) In the event of a sale, assignment or transfer of Sublandlord's
    interest in the Master Lease, Sublandlord shall transfer the Security
    to the purchaser, assignee or transferee, as the case may be, and
    Sublandlord shall thereupon automatically be released by Subtenant from
    all liability for the return of the Security, and Subtenant agrees to
    look solely to the purchaser, assignee or transferee for the return of
    the Security.

(k) The payment by Subtenant and acceptance by Sublandlord of the Security
    submitted by Subtenant shall not render this Sublease effective unless
    and until Subtenant and Sublandlord shall have executed and each shall
    have received a fully executed copy of this Sublease.

(l) For purposes of this Sublease, the phrase "Letter of Credit" shall mean
    a clean, unconditional and irrevocable letter of credit which (i) is
    issued by a bank or other institution satisfactory to Sublandlord
    having a retail office in New York County, New York at which office the
    Letter of Credit may be presented for payment, (ii) is for an amount
    equal to the Security, (iii) is for a period of one (1) year from the
    date of issuance thereof, and thereafter automatically renewable each
    year thereafter with a final expiration no earlier than 147 months from
    the date of issuance thereof, (iv) is payable to Sublandlord
    (Attention: David Trapani) upon presentation only of a sight draft and
    written certification to the issuer of such Letter of Credit stating
    that Sublandlord is entitled to draw down such letter of credit in
    accordance with the terms of this Sublease, (v) provides that prior to
    the expiration or termination thereof, the issuer thereof will provide
    notice to Sublandlord of the non-renewal or termination thereof at
    least sixty (60) days prior to the expiration or termination thereof,
    (vi) is freely transferable by Sublandlord without cost to Sublandlord,
    and (vii) is otherwise in form and substance satisfactory to
    Sublandlord.

(m) In lieu of the Security, Subtenant shall have the right at any time
    during the term hereof to deposit and maintain with Sublandlord during
    the entire term of this Sublease a Letter of Credit in the amount of
    the Security, or to initially deposit a cash Security and thereafter at
    any time during the term of this Sublease, substitute a Letter of
    Credit for such cash Security. If (i) any default beyond applicable
    notice and cure periods occurs under this Sublease, or (ii) Sublandlord
    transfers its right, title and interest under the Master Lease to a
    third party and the issuer of the Letter of Credit does not consent to
    the transfer of such Letter of Credit to such third party or if
    Subtenant at its expense, upon request of Sublandlord, fails or refuses
    to replace the Letter of Credit delivered to Sublandlord with a Letter
    of Credit issued to such third party or (iii) Sublandlord receives
    notice or becomes aware that the issuer of the Letter of Credit does
    not intend to renew it prior to the expiration thereof , and Subtenant
    shall fail to provide a replacement Letter of Credit no later than
    thirty (30) days prior to the expiration of the Letter of Credit then
    in Sublandlord's possession, then, in any of such events, Sublandlord
    may, at its option, draw down the Letter of Credit then in its
    possession in full prior to the expiration thereof and the proceeds
    thereof shall then be held and maintained by Sublandlord as the
    Security. Subtenant shall pay all costs and expenses related to or in
    any way arising out of the performance by Subtenant of its obligations
    under this paragraph, including, without limitation, the issuance,
    delivery, replacement, draw upon, transfer, maintenance or other
    matters relating to the Letter of Credit, it being understood that
    Sublandlord shall incur no cost or expense in connection therewith.

23. Furnishings. Provided Subtenant is not in default under this Sublease
    beyond applicable notice and cure periods, Sublandlord hereby grants to
    Subtenant a license ("License") to use and have the benefit of the
    furniture, furnishings, telephone equipment (other than the PBX
    switch), and other personal property located in the Premises on the
    date of this Sublease and more particularly described on Exhibit E
    attached hereto and made a part hereof (collectively, the
    "Furnishings"), for the term of this Sublease and at no additional cost
    to Subtenant. The Furnishings are provided to Subtenant "as is" and
    "where is" and Sublandlord makes no representation or warranty with
    respect to such Furnishings, including, without limitation, fitness for
    a particular purpose, except that Sublandlord represents that it owns
    the Furnishings free and clear and that the same are not subject to any
    lease or any security agreement. The Furnishings shall not be removed
    from the Premises by Subtenant and Subtenant shall maintain the
    Furnishings in good order and repair and shall not permit any waste
    with respect to the Furnishings. The Furnishings shall be delivered by
    Subtenant to Sublandlord in the same condition and repair as received
    by Subtenant, ordinary wear and tear excepted. Subtenant hereby
    releases Sublandlord from all, and shall indemnify and hold Sublandlord
    harmless from and against any, losses, liabilities, claims, damages,
    and injuries caused by, arising out of or relating to, the use of the
    Furnishings by Subtenant or its employees, agents, contractors,
    sub-subtenants, officers or any other person claiming by, through or
    under Subtenant. If Subtenant defaults under the terms and provisions
    of this Sublease, Sublandlord may, at its option, terminate the License
    by notice to Subtenant and upon the effective date of such notice,
    Sublandlord may enter into the Premises, and Subtenant hereby grants
    access to the Premises to Sublandlord for such purpose, to repossess
    and remove the Furnishings from the Premises, all at Subtenant's sole
    cost and expense. If Subtenant shall perform all of its material
    obligations under this Sublease, at the Expiration Date the Furnishings
    shall be deemed transferred and conveyed to Subtenant, and, upon
    Subtenant's request Sublandlord shall execute a bill of sale to
    Subtenant in form and substance reasonably satisfactory to the parties
    to confirm such transfer and conveyance.

24. SUBLANDLORD'S CONTRIBUTION.

(a) Subject to compliance with and in accordance with subsection 24(b)
    below, Sublandlord shall provide to Subtenant an improvement allowance
    for the Premises of $260,000.00 (the "Allowance"). Subtenant may apply
    the Allowance to those construction costs incurred by Subtenant in
    connection with its improvements to the Premises for its initial
    occupancy. To the extent the costs incurred by Subtenant to complete
    Subtenant's improvements to the Premises for its initial occupancy
    exceed the Allowance, Subtenant shall be solely responsible for such
    excess. To the extent the costs incurred by Subtenant to complete
    Subtenant's improvement in the Premises for its initial occupancy are
    less than the Allowance, then Subtenant shall be entitled to a credit
    against the Rent next due for such amount of the Allowance in excess of
    Subtenant's actual construction costs. To the extent Landlord requires
    restoration of any improvements made by Subtenant in the Premises prior
    to the Leased Premises being returned to Landlord, Subtenant shall be
    solely responsible for any costs to restore such improvements, and
    restoration shall be completed prior to the Expiration Date.

(b) (i) Prior to the commencement of construction on any of Subtenant's
    improvements in the Premises for its initial occupancy, Subtenant shall
    provide to Sublandlord the following, all in form and substance
    reasonably satisfactory to Sublandlord:

    (A) Detailed plans and specifications for Subtenant's improvements prepared
        by an architect licensed by the State of New York;

    (B) Detailed budget for the improvements including a breakdown of the costs
        of each line item, contractor's fee, applicable taxes, Landlord's fees,
        if any, and all other costs to complete such work, sworn to by
        Subtenant or its duly authorized representative authorized to bind
        Subtenant as being true and complete;

    (C) Landlord's written consent to (I) such improvements, (II) Subtenant's
        general contractor and Subcontractors (hereinafter defined) performing
        such work, (III) Subtenant's architect, (IV) the budget with respect to
        such improvements, and (V) any other items Landlord is required to
        approve, all to the extent required in the Master Lease;

    (D) A certificate of insurance showing that all of the insurance required
        by paragraph 9 of this Sublease is in effect and that the parties
        required to be named thereon as additional insureds are so named, and
        in addition, that Subtenant shall have procured and paid for builders'
        risk insurance with respect to Subtenant's improvements;

    (E) Evidence that all workers performing any portion of such work are
        covered by workers compensation coverage as required by applicable law;
        and

    (F) All necessary permits, approvals, licenses and authorizations required
        from any governmental authority in order to complete such work.

    (ii) Prior to payment of the Allowance to Subtenant, Subtenant shall provide
    the following items to Sublandlord, all of which shall be in form and
    substance reasonably satisfactory to Sublandlord, and Sublandlord shall
    issue a check payable to Subtenant within thirty (30) days of receipt
    of the last of such items for the amount of the Allowance to which
    Subtenant is entitled:

    (A) A construction statement sworn to by Subtenant and its general
        contractor identifying all construction costs subject to reimbursement
        from the Allowance and evidence reasonably satisfactory to Sublandlord
        that all of such costs have been paid in full by Subtenant;

    (B) A list of all contractors, subcontractors (of any tier), materialmen,
        suppliers, laborers and any other parties entitled to file a mechanic's
        lien under the Lien Law of the State of New York against the real
        property of which the Premises is a part (collectively,
        "Subcontractors"), certified by Subtenant and its general contractor as
        being true and correct and complete;

    (C) Final unconditional waivers of lien in form and substance reasonably
        satisfactory to Sublandlord from Subtenant's general contractor and
        each Subcontractor;

    (D) Prior to payment of the final installment of the Allowance (of not less
        than $10,000.00), a copy of any final approvals or consents required by
        all governmental authority having jurisdiction over such matters and
        evidencing that all such work has been completed in accordance with all
        applicable laws, rules, regulations and requirements; and

    (E) Such other items as Sublandlord shall reasonably request.

    (iii) All work performed by Subtenant in the Premises to prepare the same
    for Subtenant's initial occupancy shall be prepared in accordance with the
    requirements of the Master Lease applicable thereto, including all
    rules and regulations, and in accordance with all applicable laws,
    rules, regulations and requirements of governmental authority,
    including, without limitation, the Americans With Disabilities Act of
    1990, as amended, and any regulations enacted in accordance therewith.

    (iv) If Sublandlord does not pay to Subtenant the Allowance within thirty
    (30) days after Subtenant's compliance with the provisions of this
     paragraph 24, and thereafter Subtenant notifies Sublandlord that
     Subtenant has not received the Allowance within such thirty (30) day
     period ("Nonreceipt Notice"), Subtenant shall be entitled to offset
     against the Rent next becoming due and payable after the effective date
     of the Nonreceipt Notice, the amount of Allowance then payable until
     the Allowance is offset in full, unless Subtenant receives payment of
     the Allowance within the thirty (30) days after the effective date of
     the Nonreceipt Notice.

25.  CARD KEY ACCESS. Subtenant shall have the use of the existing security
     card access system ("Security System") located in the Premises on the
     date of this Sublease for the term of this Sublease at no additional
     cost or expense to Subtenant, except that Subtenant shall pay as and
     when due as Additional Rent, if such amounts are billed to Sublandlord,
     or otherwise directly to the entity which incurred such charges if such
     entity bills Subtenant directly, (i) any reasonable and actual
     reprogramming costs necessary for Subtenant's use of the Security
     System in connection with the Premises, and (ii) any monthly
     maintenance fees payable in connection with the use, maintenance,
     repair and operation of the Security System in the Premises. The
     Security System shall be delivered by Sublandlord "as is" and "where
     is" and Sublandlord makes no representations or warranties with respect
     to the Security System.
26.  LAN. Subtenant shall have the use of the existing local area network
     cabling ("LAN") located in the Premises on the date of this Sublease
     for the term of this Sublease at no additional cost or expense to
     Subtenant, except that Subtenant shall pay directly to the provider
     thereof for any charges to connect the LAN to an INTERNET and telephone
     service provider. The LAN shall be delivered by Sublandlord "as is" and
     "where is" and Sublandlord makes no representations or warranties with
     respect to the LAN.

27.  SUBLANDLORD'S REPRESENTATIONS, WARRANTIES AND COVENANTS. Sublandlord
     hereby represents and warrants to, and covenants and agrees with,
     Subtenant as follows:

(a)  Sublandlord covenants and agrees that while this Sublease is in full
     force and effect, Sublandlord will not surrender or terminate or take
     any action which would cause the termination of the Master Lease
     without the prior written consent of Subtenant, except in the case of
     casualty to or condemnation or eminent domain of the Building or
     Premises or portion thereof, all in accordance with the terms and
     conditions of the Master Lease or pursuant to a written agreement
     between Landlord and Sublandlord following such casualty, condemnation
     or eminent domain, and except to the extent that such termination will
     not affect the Premises or Subtenant's occupancy of the Premises.

(b)  Sublandlord warrants and represents to Subtenant that the Master Lease
     attached hereto as Exhibit A is a true, correct and complete copy of
     the Master Lease, is in full force and effect, and has not been
     modified or amended except as expressly set forth herein.

(c)  Sublandlord covenants and agrees that it shall not default in the
     payment of its obligations to Landlord under the Master Lease, or
     otherwise cause a default beyond the expiration of any applicable
     notice and cure periods under the Master Lease, provided Subtenant is
     not in default under its obligations under this Sublease beyond the
     expiration of any applicable notice and cure periods.

(d)  Sublandlord represents that it has received no written notice claiming
     a violation of any applicable laws, governmental rules or regulations
     with respect to the Premises.

(e)  Sublandlord represents that it has not received any notice from
     Landlord alleging a default by Sublandlord under the Master Lease which
     has not been cured, and, to Sublandlord's knowledge, there is no
     default on the part of either Sublandlord or Landlord under the Master
     Lease.

         IN WITNESS WHEREOF, the parties hereto have duly executed this Sublease
on or as of the day and year first above

                        Monster Worldwide, Inc., Sublandlord

                        By: /s/ John Caporale
                           --------------------------------------------
                              John Caporale, Director of Real Estate

                        By: /s/ Michael Silecy
                           --------------------------------------------
                              Michael Silecy, CFO

                        Asbury Automotive Group, Inc., Subtenant

                        By: /s/ Kenneth B. Gilman
                           -----------------------------------------
                              Kenneth B. Gilman, President and CEO

<PAGE>

                                    EXHIBIT A

                        Copy of the Master Lease Attached

<PAGE>

                                    EXHIBIT B

                       Floor Plan of the Premises Attached

<PAGE>

                                    EXHIBIT C

                               Base Rent Schedule

<PAGE>

                                    EXHIBIT D

                                Subtenant's Work

<PAGE>

                                    EXHIBIT E

                            Inventory of Furnishings

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