Document:

Optimark 10Q 11/12/2001 - Exhibit 10.2

EXHIBIT 10.1

	 	
          EMPLOYMENT
AGREEMENT, dated as of August 16, 2001 (this “Agreement”),
between OPTIMARK HOLDINGS, INC., a Delaware corporation (the
“Company”), and ROBERT J. WARSHAW, an individual (the
“Executive”). 

	
	

	 	
          The
Company desires to employ the Executive through its wholly owned subsidiary,
OptiMark, Inc. (“OptiMark”), a Delaware corporation, and the Executive
desires to accept such employment. 

	
	

	 	
          Accordingly,
in consideration of the premises and mutual covenants contained herein and for
other good and valuable consideration, the receipt and adequacy of which are
mutually acknowledged, the Company and the Executive agree as follows:

	
	

	 	
          1.      Definitions.  For
purposes  of this  Agreement,  the  following  terms  shall  have the  meanings
indicated:

	
	

	 	
          (a)      “Affiliate” of
a Person means a Person that directly or
indirectly through one or more intermediaries controls, is controlled by or is
under common control with, the Person specified. Unless the context otherwise
requires, the terms “control” (including the terms
“controlling”, “controlled by” and “under common
control with”) means the possession, directly or indirectly, of the power
to direct or cause the direction of the management and policies of a Person,
whether through the ownership of voting securities, by contract, or otherwise.

	
	

	 	
          (b)      “Base Salary” means
the salary provided for in Section 4 or any
increased salary granted to the Executive pursuant to Section 4.

	
	

	 	
          (c)      “Board” means
the Board of Directors of
the Company.

	
	

	 	
          (d)      “Cause” means:

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         (i)      the
Executive  is  convicted  of  a
felony,  any act involving moral turpitude,  or a misdemeanor where imprisonment
in excess of 15 days is imposed; or

	
	

	 	
         (ii)      the
Executive engages in conduct that constitutes gross negligence or gross
misconduct in carrying out his duties under this Agreement which results in
material harm to the Company; 

	
	

	 	
         (iii)     the
Executive’s failure or inability to perform any reasonable assigned
duties, or material breach or violation of any covenant, term or provision of
this Agreement, which results in material harm to the Company and which is not
cured within ten (10) days following written notice to the Executive (if such
failure, inability, or material breach or violation can reasonably be cured by
Executive’s actions). 

	 	
          (e)      “Change
in Control”" means

	 	
         (i)      the sale,
lease, conveyance or other disposition of all or substantially all of
the Company’s assets as an entirety or substantially as an entirety to any
“person” (as such term is used in Section 13(d) and 14(d) of the
Exchange Act), entity or group of persons acting in concert; 

	
	

	 	
         (ii)      any
“person”, together with its Affiliates (other than SOFTBANK or any
Affiliate thereof) becomes the “beneficial owner” (as defined in Rule
13d-3 under the Exchange Act), directly or indirectly, of securities of the
Company representing 50% or more of the total voting power represented by the
Company’s then outstanding voting securities; or 

	
	

	 	
         (iii)     a merger
or consolidation of the Company with any other entity, other than a
merger or consolidation that would result in the voting securities of the
Company outstanding 

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immediately
prior thereto continuing to represent (either by remaining outstanding or by
being converted into voting securities of the surviving entity or its
controlling entity) at least 51% of the total voting power represented by the
voting securities of the Company or such surviving entity (or its controlling
entity) outstanding immediately after such merger or consolidation.

	 	
          (f)      “Claim” means
any claim, demand, request, investigation,
dispute, controversy, threat, discovery request or request for testimony or
information.

	
	

	 	
          (g)      “Code” means the
Internal Revenue Code of 1986, as amended. Any
reference to a particular section of the Code shall include any provision that
modifies, replaces or supersedes such section.

	
	

	 	
          (h)      “Constructive Termination” means
a termination by the Executive
of his employment with the Company on written notice given to the Company
following the occurrence, without his prior written consent, of any of the
following events:

	 	
         (i)      a reduction in
his then current Base Salary;

	
	

	 	
         (ii)      a material breach
of the Company's  obligations  under Sections 4, 5, 7 or 8;

	
	

	 	
         (iii)     the termination of, or a material reduction in, any employee benefit or
perquisite enjoyed by him (other than a termination of the loan granted pursuant
to Section 7(a) or as part of an across-the-board reduction applying to all
executive officers of the Company which has been approved by the Board); 

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         (iv)      a material diminution
in his duties or the assignment to him of duties that
materially impair his ability to perform the duties normally assigned to the
Chief Executive Officer of a corporation of the size and nature of the Company;

	
	

	 	
         (v)      the relocation of
the Company’s principal office, or of his own office as
assigned to him by the Company, to a location more than 50 miles from New York,
New York; 

	
	

	 	
         (vi)      the failure of the
Company to use its best efforts to enter into an option
agreement with the Executive containing the terms specified in Sections 6, 9 and
10(a) hereof on or before September 1, 2001; and 

	
	

	 	
         (vii)      the failure of
the Company to obtain the assumption in writing (the
“Assumption Agreement”) of its obligation to perform this Agreement by
any successor to all or substantially all of the assets of the Company within 45
days after a merger, consolidation, sale or similar transaction (for
clarification purposes only, it being understood that if the sole reason for
failure to obtain the Assumption Agreement is due to the Executive’s
failure to execute the Assumption Agreement in his personal capacity, if
required, then the failure to obtain such Assumption Agreement shall not be
deemed a Constructive Termination under this Section 1(h)(vii)).

	 	
          (j)      “Disability” means the Executive’s inability, due to
physical or mental incapacity, to substantially perform his duties under this
Agreement for a period of 180 consecutive days. The existence or cessation such
physical or mental incapacity shall be determined by an approved medical doctor.
For this purpose an approved medical doctor means a medical doctor selected by
the Executive and the Company. If the Executive and the Company cannot agree on
a medical

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doctor,
each Party shall select a medical doctor and the two doctors shall select a
third who shall be the approved medical doctor for this purpose.

	
	

	 	
          (k)      “Exchange Act” means
the Securities Exchange Act of 1934, as amended.

	
	

	 	
          (l)      “Loan” means the loan to
 the Executive by the Company  described in Section 7(a)
hereof.

	
	

	 	
          (m)      “Parties” means the
Company and the Executive.

	
	

	 	
          (n)      “Person” means any individual, corporation, partnership,
limited liability company, joint venture, trust, estate, board, committee,
agency, body, employee benefit plan or other person or entity. 

	
	

	 	
          (o)      “Proceeding” means any threatened or actual action, suit or
proceeding, whether civil, criminal, administrative, investigative, appellate or
other. 

	
	

	 	
          (p)      [Reserved.]

	
	

	 	
          (q)      “Standard  Benefits”  means
those  payments  and  benefits  specified in Section
9(a)(iv) hereof.

	
	

	 	
          (r)      “Start Date” means
August 16, 2001.

	
	

	 	
          (s)      “Term of Employment” means
the period specified in Section 2.

	
	

	 	
          (t)      “Termination Date” means the date on which the Executive’s
employment hereunder terminates in accordance with this Agreement.

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	 	(u)	
"Year" shall mean each one-year period
ending on each anniversary of the Start Date.

	
	
	

	 	(v)	
“SOFTBANK” shall mean SOFTBANK Capital Partners LP, SOFTBANK Capital
LP and SOFTBANK Capital Advisors Fund LP, each a Delaware limited partnership.

	 	
          2.      Term of Employment. The Company agrees to employ the Executive under this
Agreement, and the Executive accepts such employment, for the Term of
Employment. The Term of Employment shall commence on the Start Date and shall
end on the first anniversary thereof. The Term of Employment shall automatically
renew for one-year periods ending on each subsequent anniversary of the Start
Date unless either Party has provided the other Party with at least sixty (60)
days advance written notice of that Party’s desire that the Term of
Employment should terminate. Notwithstanding the foregoing, the Term of
Employment may be earlier terminated in accordance with the provisions of
Section 9 hereof. 

	
	

	 	
          3.      Positions, Duties and Responsibilities.  (a) During the Term of
Employment, the Executive shall be employed as the Chief Executive Officer of
the Company and of OptiMark and be responsible for the general management of the
affairs of the Company, and shall perform such duties and exercise such powers
as are incident to the office of the Chief Executive Officer of the Company. The
Executive, in carrying out his executive duties under this Agreement, shall
report to the Board. It is the intention of the Parties that the Executive shall
be elected to and serve as a member of the Board, and the Company shall use its
best efforts, and shall use its best efforts to cause its stockholders, to cause
the election of the Executive to the Board. 

	
	

	 	
          (b)      Notwithstanding anything herein to the contrary, nothing shall preclude the
Executive from (i) serving on the boards of directors of a reasonable number of
other corporations or the boards of a reasonable number of trade associations
and/or 

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charitable
organizations provided that any such entity is not one of the entities described
in Section 17(d)(i)-(iv) hereof, (ii) engaging in charitable activities and
community affairs, including political activities, and (iii) making and holding
minority investments of up to 5% of capital stock in corporations listed on a
recognized stock exchange which may fall within the scope of the business of the
Company as long as the Executive is not actively engaged in the management or
technical development efforts of any such corporation.

	
	

	 	
          4.      Base Salary. Commencing as of the Start Date, the Executive shall be paid
an annualized Base Salary of $250,000. Such Base Salary shall be payable in
accordance with the regular payroll practices of the Company applicable to
senior executives, but no less frequently than monthly. The Base Salary shall
not be decreased at any time, or for any purpose, during the Term of Employment
(including, without limitation, for the purpose of determining benefits due
under Section 9). The Company shall provide the Executive with written notice of
his base salary and minimum annual incentive bonus award for a subsequent Term
of Employment at least ninety (90) days prior to expiration of the then current
Term of Employment.

	
	

	 	
          5.      Annual Incentive Awards.

	
	

	 	
          (a)      The Executive shall receive an annual incentive bonus award from the Company in
respect of the first Year of this Agreement. The minimum annual incentive bonus
award payable to the Executive in respect of this first Year shall be $200,000
and the Executive shall be eligible for an additional bonus award in this first
Year at the discretion of the Board. The Executive shall receive this $200,000
annual incentive bonus award payment for the first year on a bi-monthly basis on
the 14th and 29th of each month. The Executive shall be
eligible for a minimum annual incentive bonus award in other Years, if any, in
the amount set forth in the notice provided to the Executive pursuant to the
last sentence of Section 4 hereof. 

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          (b)      The Company agrees to pay a sum of $100,000 to the Executive within five (5)
days of the Company’s next closing of funding pursuant to the Series E
Preferred Stock Purchase Agreement, dated June 29, 2001 after execution of this
Agreement.

	
	

	 	
          6.      Long-Term Incentive Awards.  As of the date that options on shares of the
Company’s Series F Preferred Stock (“Shares”) are granted to
senior executives of the Company, the Company shall grant to the Executive
options to acquire 2,220,000 Shares (the “Target Amount”). The shares
underlying such grants shall be those shares as are used in the most recently
adopted stock option plan for all employees, or, in the event there is no
employee stock option plan in place, on those shares which are most senior as to
liquidation and sale preferences from time-to-time. Such options shall be
exercisable as specified in the stock option agreement governing such grant at
an exercise price that the Board of Directors determines is equal to the fair
market value per Share at the time of such grant. Subject to Sections 9 and
10(a) hereof, such options shall vest no slower than in four equal annual
installments on each of the first four anniversaries of the date of the grant.
The Executive shall also be eligible to participate in future option and equity
awards on the same basis as other senior level executives of the Company. The
Company will make good faith efforts to provide drag-along and tag-along rights
in connection with shares of its Series Company’s Series F Preferred Stock
that are subject to options granted thereon relative to the private sale of the
Company’s Series E Cumulative Preferred Stock by a holder thereof.

	
	

	 	
          7.      Other Benefits.

	
	

	 	
          (a)      Loan.  Under the  Executive's  prior
employment agreement,  the Company agreed to make a loan to the Executive in the
amount of $150,000. The Loan may be drawn down by the Executive at any time from
and after December 1, 2000, upon five

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days
prior notice to the Company. The Loan shall bear interest on the unpaid
principal amount thereof at the applicable federal rate, as defined in Section
1274 of the Code, on the date the Loan is drawn down and will be due in
full, along with all accrued interest, on the termination of the
Executive’s employment with the Company as a result of a termination by the
Company for Cause pursuant to Section 9(c) hereof or by the Executive pursuant
to Section 9(e) hereof. The Loan and all accrued interest will be forgiven in
full on January 31, 2002 or, if earlier, upon any termination of the
Executive’s employment other than as described in the preceding sentence.

	
	

	 	
          (b)      Employee Benefits.  During the Term of Employment, the Executive shall
participate in all employee benefit plans, programs and arrangements made
available generally to the Company’s employees or to its senior executives,
if different, including, without limitation, profit-sharing, savings (qualified
and non-qualified) and other defined contribution retirement plans or programs,
medical, dental, hospitalization, vision, short-term and long-term disability
and life insurance plans or programs, accidental death and dismemberment
protection, travel accident insurance, and any other employee welfare benefit
plans or programs that may be sponsored by the Company from time to time,
including any plans or programs that supplement the above-listed types of plans
or programs, whether funded or unfunded; provided, however, that
nothing in this Agreement shall be construed to require the Company to establish
or maintain any such plans, programs or arrangements, except medical, and
hospitalization insurance which shall be required benefit plans for the
Executive.

	
	

	 	
          (c)      Perquisites.  During the Term of Employment, the Executive shall
participate in all fringe benefits and perquisites available to senior
executives of the Company at levels, and on terms and conditions, that are
commensurate with his positions and responsibilities at the Company. The
Executive shall also receive such 

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additional
fringe benefits and perquisites as the Company may, in its discretion, from
time-to-time provide.

	
	

	 	
          (d)      Vacations.  During the Term of Employment, the Executive shall be entitled
to three weeks paid vacation per Year, which may be carried over from Year to
Year.

	
	

	 	
          8.      Reimbursement  of Business  and Other
Expenses.  (a) The  Executive  is  authorized  to incur  reasonable  expenses in
carrying  out his  duties and  responsibilities  under  this  Agreement  and the
Company  shall  promptly  reimburse  him  for  all  such  expenses,  subject  to
documentation in accordance with reasonable policies of the Company.

	
	

	 	
          (b)      The Company shall promptly reimburse the Executive for any and all reasonable
expenses (including, without limitation, reasonable attorneys’ fees and
other charges of counsel) incurred by him in connection with the negotiation and
documentation of this Agreement and other agreements contemplated hereby. 

	
	

	 	
          9.      Termination of Employment.

	
	

	 	
          (a)      Termination Due to Death. In the event that the Executive's  employment
hereunder is terminated due to his death,  his estate or his  beneficiaries  (as
the case may be) shall be entitled to:

	 	
         (i)      unpaid  Base  Salary  and a prorated
minimum annual incentive bonus award, if any, through the date of his death;

	
	

	 	
         (ii)      accelerated vesting of any option tranche that would otherwise have vested
within one year of the Termination Date and the ability to exercise vested
options until the earlier of (i) three years from the Termination Date; (ii)
ninety days following the date of a Change in Control or the Company’s 

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underwritten public offering; or (iii) the maximum stated term of option;

	
	

	 	
         (iii)     a lump sum payment in respect of all accrued but unused vacation days at his
Base Salary rate in effect on the Termination Date, payment of any other amounts
earned, accrued or owing to the Executive but not yet paid and receipt of other
benefits in accordance with applicable plans and programs of the Company;

	
	

	 	
         (iv)      continued
participation for one year for each of the Executive’s dependents
in all medical, dental, vision, hospitalization and other employee welfare
benefit plans, programs and arrangements in which such dependent was
participating as of the date of the Executive’s death, on terms and
conditions no less favorable than those applying on such date and with COBRA
benefits commencing thereafter; and 

	
	

	 	
         (v)      forgiveness
of the Loan and all accrued interest thereon.

	 	
          (b)      Termination  Due to  Disability.  In
the  event  that the  Executive's  employment  hereunder  is  terminated  due to
Disability, he shall be entitled to the following:

	 	
         (i)      unpaid
Base Salary and prorated minimum annual incentive bonus award, if any,
until commencement of long-term disability payments, not to exceed one year from
the commencement of the Executive’s Disability;

	
	

	 	
         (ii)      accelerated
vesting of any option tranche that would otherwise have vested
within one year of the Termination Date and the ability to exercise vested
options until the earlier of (i) three years from the Termination Date; (ii)
ninety day following the date of a Change in Control or the Company’s

12

	 	
underwritten public offering; or (iii) the maximum stated term of option;

	
	

	 	
         (iii)     the Standard
Benefits; and

	
	

	 	
         (iv)      forgiveness
of the Loan and all accrued interest thereon.

	 	
         No termination of
the Executive’s employment for Disability shall be effective
unless the Party terminating his employment first gives 15 days written notice
of such termination to the other Party. 

	
	

	 	
          (c)      Termination
by the Company for Cause.

	 	
         (i)      In the
event of a termination by the Company for Cause, the Executive shall be
given written notice by the Board of the intention to terminate him, such notice
to state in detail the particular circumstances that constitute the grounds on
which the proposed termination for Cause is based. The Executive shall be
terminated with Cause upon receipt of such notice if the stated grounds are
those described in Section 1(d)(i) or (ii). If the Company seeks to terminate
the Executive for Cause as defined in Section 1(d)(iii), then the Executive
shall have the time permitted under Section 1(d)(iii) in which to cure such
grounds, to the extent such cure is possible. After the time permitted under
Section 1(d)(iii) has elapsed, the Board will provide notice to the Executive as
to whether the Executive has cured such grounds or whether the Executive is
terminated with Cause.

	
	

	 	
         (ii)      In the
event that the Executive’s employment hereunder is terminated by the
Company for Cause in accordance with Section 9(c)(i), he shall be entitled to:

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         (A)     Payment
of unpaid Base Salary and a prorated minimum annual incentive bonus
award, if any, through the Termination Date; and 

	
	

	 	
         (B)     the
continued right to exercise each vested stock option that is, or becomes,
exercisable as of the Termination Date, such period of exercisability to
continue for at least the lesser of (x) 90 days and (y) the balance of such
option’s maximum stated term.

	 	
          (d)      Termination
Without Cause; Constructive Termination by the Executive.  In
the event that the Executive’s employment hereunder is terminated by the
Company (other than due to Disability in accordance with Section 9(b) or for
Cause in accordance with Section 9(c)(i) or as a result of the Company’s
delivery of a notice not to renew this Agreement in accordance with Section 2),
or in the event of the Executive’s termination of his employment as a
result of a Constructive Termination, the Executive shall be entitled to: 

	
	

	 	
         (i)      payment
of unpaid  Base  Salary and
prorated  minimum annual  incentive bonus award, if any, through the Termination
Date;

	
	

	 	
         (ii)      a severance
payment equal to the sum of one year's Base Salary,  which
is payable in installments in accordance with the Company's regular payroll practices;

	
	

	 	
         (iii)     accelerated
vesting of any option tranche that would otherwise have vested
within one year of the Termination Date and the ability to exercise vested
options for up to one year from the Termination Date; 

	
	

	 	
         (iv)      continued
participation  for the Executive and each of his  dependents in all Company medical, dental, vision,

14

	 	
hospitalization and life insurance coverages and all other Company welfare benefit plan,
programs and arrangements until the earlier of (x) the first anniversary of the
Termination Date, and (y) the date the Executive receives equivalent coverage
and benefits from a subsequent employer; and

	
	

	 	
         (v)      forgiveness
of the Loan and all accrued interest thereon;

	 	
provided; however, that in the event of a proposed Constructive Termination, the Company
shall be given written notice by the Executive of such Constructive Termination,
such notice to state in detail the particular circumstances that constitute the
grounds on which the proposed Constructive Termination is based. The Company
shall have thirty (30) days in which to cure such grounds, to the extent such
cure is possible. Upon expiration of such thirty (30) day period, then the
Executive will provide notice to the Company as to whether the grounds for the
proposed Constructive Termination have been cured or whether the Executive
believes that the grounds for Constructive Termination remain and deems himself
to have been the subject of a Constructive Termination.

	
	

	 	
          (e)      Voluntary
Termination. In the event that the Executive terminates his
employment with the Company on his own initiative (other than by death, for
Disability or by a Constructive Termination), or in the event the Executive
delivers a notice not to renew this Agreement in accordance with Section 2, he
shall have the same entitlements as provided in Section 9(c)(ii) in the case of
a termination by the Company for Cause. A voluntary termination under this
Section 9(e) shall be effective upon written notice to the Company and shall not
be deemed a breach of this Agreement.

	
	

	 	
          (f)      Expiration
of the  Term  of  Employment.  In
the  event  that  the  Executive's employment terminates because the Company has

15

	 	
delivered
notice not to renew this Agreement in accordance with Section 2, then he shall
be entitled to:

	 	
         (i)      the Standard
Benefits;

	
	

	 	
         (ii)      accelerated
vesting of any option tranche that would otherwise have vested
within one year of the Termination Date and the ability to exercise vested
options for up to one year from the Termination Date; and

	
	

	 	
         (iii)     a
severance payment equal to the sum of one year’s Base Salary, which is
payable in installments in accordance with the Company’s regular payroll
practices. 

	 	
          (g)      Benefit
Plans.  In the event that the Executive, or any of his dependents,
is precluded from continuing full participation in any employee benefit plan,
program or arrangement as provided in Sections 9(a)(iv), 9(b)(iii) or
9(d)(iv), the Executive shall be provided with the after-tax economic
equivalent of any benefit or coverage foregone. For this purpose, the economic
equivalent of any benefit or coverage foregone shall be deemed to be the total
cost to the Executive of obtaining such benefit or coverage by himself on an
individual basis, not to exceed 150% of monthly premium paid by the Company
during the month immediately preceding termination. Payment of such after-tax
economic equivalent shall be made quarterly in advance, without discount.
Notwithstanding the foregoing, the Company shall not be obligated under this
Section 9(g) with respect to any employee benefit plan, program or arrangement
that has been terminated for all employees.

	
	

	 	
          (h)      No
Mitigation or Offset.  In the event of any termination of the
Executive’s employment with the Company, the Executive shall be under no
obligation to seek other employment or otherwise mitigate the obligations of the
Company under this Agreement, and there shall be no offset against amounts due
to the Executive under 

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this Agreement on account of (A) any claim that the Company or any of its
shareholders or Affiliates may have against him except for claims made in good
faith by the Company relating to a breach of Sections 12 and/or 17 by the
Executive or (B) any remuneration or other benefit earned or received by the
Executive after such termination except as specifically provided in Section
9(d)(vi). Any amounts due under this Section 9 or under Section 10(b) are
considered to be reasonable by the Company and are not in the nature of a
penalty.

	 	
          10.      Change
in Control; Excise Tax
Gross-Up.  (a) In the event that a Change in
Control occurs during the Term of Employment, or the Company’s shareholders
approve of a plan of liquidation or dissolution of the Company, then (a) all
amounts, entitlements and benefits, other than options, shall become fully
vested and non-forfeitable and (b) fifty percent (50%) of all unvested options
shall become vested and non-forfeitable. In the event that holders of the
Company’s stock receive cash, securities or other property in respect of
their Company stock in connection with a Change in Control transaction, the
Company shall use its best efforts, consistent with the applicable plan, to
enable the Executive (if he so elects) to exercise any stock option at a time
and in a fashion that will entitle him to receive in exchange for any shares
thus acquired, the same consideration as is received in such Change in Control
transaction by other holders of Company’s stock. Notwithstanding the
foregoing, nothing in this Section 10(a) shall in any way limit the
Executive’s rights under Section 9 with respect to any stock options upon a
termination of his employment.

	
	

	 	
          (b)      In the
event that any payment or benefit made or provided to or for the benefit
of the Executive in connection with this Agreement and his employment with the
Company or the termination hereunder (a “Payment”) is
determined to be subject to any excise tax (“Excise Tax”)
imposed by Section 4999 of the Code (or any successor to such Section), the
Company shall pay to the Executive, prior to the

17

	 	
time any Excise Tax is payable with respect to such Payment (through withholding or
otherwise), an additional amount (a “Gross-Up Payment”) which,
after the imposition of all income, employment, excise and other taxes,
penalties and interest thereon, is equal to the sum of (i) the Excise Tax on
such Payment plus (ii) any penalty and interest assessments associated with such
Excise Tax. The determination of whether any Payment is subject to an Excise Tax
and, if so, the amount and time of any Gross-Up Payment pursuant to this Section
10(b) shall be made by an independent auditor (the “Auditor”)
jointly selected by the Parties and paid by the Company. Unless the Executive
agrees otherwise in writing, the Auditor shall be a nationally recognized United
States public accounting firm that has not, during the two years preceding the
date of its selection, acted in any way on behalf of the Company or any of its
Affiliates. If the Parties cannot agree on the firm to serve as the Auditor,
then the Parties shall each select one accounting firm and those two firms shall
jointly select the accounting firm to serve as the Auditor. The Parties shall
cooperate with each other in connection with any Proceeding or Claim relating to
the existence or amount of any liability for Excise Tax. All expenses relating
to any such Proceeding or Claim (including attorneys’ fees and other
expenses incurred by the Executive in connection therewith) shall be paid by the
Company promptly upon demand by the Executive, and any such payment shall be
subject to a Gross-Up Payment under this Section 10(b) in the event that the
Executive is subject to Excise Tax on such payment. This Section 10(b) shall
apply irrespective of whether a Change in Control has occurred.

	
	

	 	
          11.      Indemnification.  (a) The
Company  agrees that (i) if the Executive is
made a party,  or is threatened to be made a party,  to any Proceeding by reason
of the fact that he is or was a director,  officer,  employee,  agent,  manager,
consultant or  representative of the Company or is or was serving at the request
of the  Company  or  any  of its  Affiliates  as a  director,  officer,  member,
employee, agent, manager, consultant or representative of another Person or (ii)
if any

18

	 	
Claim is made, or threatened to be made, that arises out of or relates to the
Executive’s service in any of the foregoing capacities, then the Executive
shall promptly be indemnified and held harmless by the Company to the fullest
extent legally permitted or authorized by the Company’s certificate of
incorporation, bylaws or Board resolutions or, if greater, by the laws of the
State of Delaware, against any and all costs, expenses, liabilities and losses
(including, without limitation, attorney’s fees, judgments, interest,
expenses of investigation, penalties, fines, ERISA excise taxes or penalties and
amounts paid or to be paid in settlement) incurred or suffered by the Executive
in connection therewith, and such indemnification shall continue as to the
Executive even if he has ceased to be a director, member, employee, agent,
manager, consultant or representative of the Company or other Person and shall
inure to the benefit of the Executive’s heirs, executors and
administrators. The Company shall advance to the Executive, upon the
Executive’s provision of appropriate documentation, all reasonable costs
and expenses, including reasonable attorneys’ fees, incurred by him in
connection with any such Proceeding or Claim within 15 days after receiving
written notice requesting such an advance; provided, however, that
the Company shall not be required to provide the advance unless the
Company’s insurance carrier has indicated that it will not pay for the
reasonable costs and expenses associated with such Proceeding or Claim. Such
notice shall include an undertaking by the Executive to repay the amount
advanced if he is ultimately determined to liable under such Proceeding or
Claim. Prior to any advance, the Executive shall post a bond sufficient to
secure the amount advanced. This Section 11 shall not apply to suits brought by
the Company against the Executive.

	
	

	 	
          (b)      Neither
the failure of the Company (including the Board, independent legal
counsel or stockholders) to have made a determination in connection with any
request for indemnification or advancement under Section 11(a) that the
Executive has satisfied any applicable standard of conduct, nor a determination
by the Company 

19

	 	
(including
the Board, independent legal counsel or stockholders) that the Executive has not
met any applicable standard of conduct, shall create a presumption that the
Executive has not met an applicable standard of conduct.

	
	

	 	
          12.      Confidential
Information.  In the course of the Executive’s
employment with the Company, the Executive may become aware of confidential
information including, without limitation, computer system and software designs,
plans for new product and service offerings, customer lists, market research,
strategic plans or other similar information that relates to the business of the
Company, its investors, business partners, customers or clients. The Executive
will not use or disclose any such confidential information of the Company or its
investors, business partners, customers or clients except in the course of his
duties to the Company or unless ordered to do so by a court of competent
jurisdiction (in which latter case the Executive will promptly inform the
Company of such order). The Executive will comply with the Company’s
policies and procedures for the protection of confidential information. Further,
the Executive’s obligation not to disclose or use such confidential
information will continue for a period of five years after the termination of
the Executive’s employment for whatever reason. Confidential information
excludes any information known by the Executive prior to the commencement of his
employment which was not obtained from the Company (or a director, officer,
employee or agent of the Company) or which is or becomes known by the public or
in the Company’s industry other than by a breach by the Executive of a
confidentiality obligation to the Company.

	
	

	 	
          13.      Intellectual
Property.  The
Executive  will fully and promptly  disclose  and  describe to the Company,  and
hereby  agrees to assign  to the  Company,  all of his full  right,  title,  and
interest  in all  intellectual  property,  including,  without  limitation,  all
inventions,  discoveries,  concepts, ideas, systems, methods,  processes, works,
computer programs and computer software (whether or not

20

	 	
patentable
or copyrightable or constituting trade secrets), which the Executive makes,
conceives, reduces to practice, or creates as an employee of or in connection
with his employment by the Company. The Executive also will disclose and assign
to the Company all of his interest, if any, in any such intellectual property
conceived of or created by other employees or by clients of the Company during
the Term of Employment. The Executive understands that he will have no rights to
any royalties or other compensation for the use of any intellectual property
covered by this Agreement, unless expressly agreed to in writing by the Company.
The Executive owns the discoveries, improvements or inventions identified in
attachment A hereto, which discoveries, improvements or inventions are expressly
reserved and excepted from the provisions of this Agreement.

	
	

	 	
          14.      Patents.  The
Executive will cooperate with the Company in doing whatever
is appropriate, including executing assignments, to apply for, obtain and
enforce patent rights (U.S. and/or foreign) for the Company or its clients on
any invention which is made by the Executive (either alone or jointly with
others) during the Term of Employment and to which the Company is entitled to
possession under the terms of this Agreement, provided that (a) all expenses
required to apply for, obtain and enforce any patent rights will be paid by the
Company, and (b) if the Executive is required to spend a substantial amount of
time to carry out his obligations under this Section 14, the Executive will be
entitled to reasonable compensation from the Company for that time at levels
based on his total annual compensation in effect at the time the
Executive’s employment with the Company terminated. The Executive
understands that the Company will have no obligation to him to apply for or
obtain any such patent rights.

	
	

	 	
          15.      Writings.  Any
written  materials or software  relating to the business of the Company that the
Executive prepares, in whole or in part, during the Term of Employment,  will be
the property of the Company.  The Executive hereby assigns to the Company all of
his full

21

	 	
right,
title and interest in any such written materials or software. The Executive also
will do whatever is appropriate to obtain copyright protection of any such
written materials or software relating to his work for the Company or its
clients, should the Company so request.

	
	

	 	
          16.      Company
Property.  Upon the termination of the Executive’s employment
with the Company, or during the Executive’s employment if so requested by
the Company, the Executive will deliver to an authorized representative of the
Company (a) all credit cards, identification cards, badges, keys, and other
items which have been provided to the Executive by the Company, (b) all tools,
equipment, and software provided to the Executive by the Company, and (c) all
written materials, records, tapes, disks and other media which relate to the
business of the Company. The Executive will not retain any copies or duplicates
of the items described above, except that the Executive may retain copies of his
own records relating to his compensation and benefits from the Company, a copy
of this Agreement and any other agreement between the Executive and the Company,
and his personal copies of any papers which have been written by the Executive
and have been published without restriction.

	
	

	 	
          17.      Non-Solicitation
and Non-Compete.

	
	

	 	
          (a)      The
Executive agrees that for a period of 12 months following the termination of
the Executive’s employment with the Company for any reason, the Executive
will not, and will not assist anyone else to, directly or indirectly solicit or
induce any of the Company’s employees to terminate their employment with
the Company or divert, interfere with or take away from the Company any person,
company or entity which, within the six month period immediately preceding the
Termination Date, was an investor, customer, client, supplier, business partner,
prime contractor, subcontractor or independent contractor of the Company.

	
	

	 	
          (b)      Subject
to Section 3(b), Executive agrees that until the

22

	 	
Termination
Date, Executive shall devote substantially all of his working time to the
business and affairs of the Company and its subsidiaries. In addition, prior to
the Termination Date, neither Executive nor any entity controlled, directly or
indirectly, by Executive (each, an “Executive Controlled
Entity”), shall engage in any Competitive Activity (as
hereinafter defined).

	
	

	 	
          (c)      Executive
agrees that, for a period of 12 months after the Termination Date,
neither Executive nor any Executive Controlled Entity, shall engage in any
Competitive Activity (as hereinafter defined).

	
	

	 	
          (d)      For
purposes of this Section 17, “Competitive
Activity” shall mean employment by, consulting or
contracting for, or soliciting business for, any of the following: 

	 	
         (i)      any
Person who, as of the Executive’s Termination Date, (a) has executed
either a binding agreement or a non-binding term sheet or letter of intent with
OPTIMARK, which has not been terminated or expired or, if terminated or expired,
under which OptiMark and the Person continues to perform, or (b) is engaged in
negotiations with OPTIMARK, for OPTIMARK to (x) license its software to such
Person, or (y) design, develop, or maintain software for the building and
operating of electronic markets or exchanges (a
“Client”); 

	
	

	 	
         (ii)      any
Person who (1) is not a Client as of the Executive’s Termination Date
but (2) has been a Client within six (6) months of the Executive Termination
Date (a “Former Client”); 

	
	

	 	
         (iii)     the
financial  services  software
applications  areas,  divisions or groups of OM Technology Inc., ISM Information
Systems Management Corporation,  eSpeed, Inc., Perfect Commerce,  Inc., Commerce
One, Inc., Ariba, Inc.,

23

	 	
VerticalNet,
Inc. i2 Technologies, Inc., Securities Industry Automation Corporation,
RoyalBlue Financial PLC, or RoyalBlue Group (a “Direct
Competitor”) or the financial services software applications
areas, divisions or groups of any Person controlled by, or under common control
with, a Direct Competitor, or any successor to or acquirer of all or
substantially all of the assets of a Direct Competitor; provided, however, that
“Direct Competitor” shall also include any area, division or group of
any of the foregoing companies which is responsible for, or performs or
provides, any product or service that is substantially similar to any product or
service provided by OptiMark from which OptiMark has generated 20% or more of
OptiMark’s consolidated revenue in any quarter within the twelve months
prior to the Employee Termination Date; and

	
	

	 	
         (iv)      any
“Competitive Exchange”, defined as any
third-Person operating an electronic market or exchange where buyers and sellers
may submit orders for substantially the same products or services as an
electronic market or exchange (x) developed, designed, created or operated by
OPTIMARK, or a Person that is controlled by, or under common control with,
OPTIMARK or (y) from which OPTIMARK generates revenue based on transactions by
third parties consummated in, or subscriptions to, the electronic market or
exchange. 

	
	

	 	
          (e)      The  Executive acknowledges that the
business conducted by the Company is national in nature and, accordingly, agrees
that the  restriction  in the Section 17 shall apply to  Executive in the United
States for the applicable periods set forth in Sections 17(b) and 17 (c).

	
	

	 	
          (f)      The  Executive acknowledges that the
restrictions,   prohibitions  and  other  provisions  of  this  Section  17  are
reasonable, fair and equitable in scope, terms and duration, are necessary to

24

	 	
protect
the legitimate business interests of the Company and are a material inducement
to the SOFTBANK Investment. The “SOFTBANK
Investment” means the purchase of preferred stock pursuant
to the Series E Preferred Stock Purchase Agreement dated as of June 29, 2001, by
and between the Company and the entities listed on the Schedule of Purchasers
thereto.

	
	

	 	
          18.      Assignability; Binding Nature.  (a)
This Agreement shall be binding upon and inure to the benefit of the Parties and
their respective successors, heirs (in the case of the Executive) and assigns.

	
	

	 	
          (b)      No rights or obligations of the Company under this Agreement may be assigned or
transferred by the Company except that such rights or obligations may be
assigned or transferred pursuant to a merger or consolidation in which the
Company is not the continuing entity, or a sale or liquidation of all or
substantially all of the assets and business of the Company. 

	
	

	 	
          (c)      No rights or obligations of the Executive under this Agreement may be assigned
or transferred by the Executive other than his rights to compensation and
benefits, which may be transferred only by will or operation of law, except as
provided herein. 

	
	

	 	
          19.      Representations and Warranties of the Company.  The Company represents and
warrants to the Executive that it is fully authorized by action of its Board
(and of any other Person or body whose action is required) to enter into this
Agreement and to perform its obligations hereunder; and upon the execution and
delivery of this Agreement by the Parties, this Agreement shall be the valid and
binding obligation of the Company, enforceable against the Company in accordance
with its terms. 

	
	

	 	
          20.      Resolution of Disputes.  Any Claim
arising out of or relating to this Agreement, the
Executive's employment with the

25

	 	
Company
or the termination of such employment shall be resolved by binding confidential
arbitration, to be held in New York, New York, in accordance with the Commercial
Arbitration Rules of the American Arbitration Association. Judgment upon the
award rendered by the arbitrator(s) may be entered in any court having
jurisdiction thereof. If the Executive prevails, then the Company shall promptly
pay all costs and expenses, including without limitation attorneys’ fees,
incurred by the Executive or his beneficiaries in resolving any such Claim.
Pending the resolution of any Claim, the Executive (and his beneficiaries) shall
continue to receive all payments and benefits due under this Agreement.

	
	

	 	
          21.      Notices.  Any   notice,   consent,
demand,  request, or other communication hereunder shall be in writing and shall
be  deemed  to be duly  given  if  delivered  personally,  if  delivered  by fax
transmission with printed confirmation  receipt, if sent by recognized overnight
courier  service  or if sent by  U.S.  registered  or  certified  mail,  postage
prepaid, return receipt requested, as follows:

	
	
	

	 	
If to the Company:
	
OptiMark,  Inc.
10  Exchange  Place - 24th  Floor
Jersey  City,  NJ 07302

Attention: General Counsel
Tel.: (201) 536-7000
Fax: (201) 946-0742

	
	
	

	 	
If to the Executive:
	
To the Executive at his principal  residence as shown in the records of the
Company (with a copy to the  Executive at the  Company's  address and to Gary L.
Schoenbrun, Dickstein Shapiro Morin & Oshinsky LLP, 1177 Avenue of the Americas,
NY, NY 10036, Tel: (212) 835-1478; facsimile: (212) 997-9880).

25

	
	
	

	 	
If to a beneficiary
of the Executive:

	
The address most recently specified by the
Executive or beneficiary through notice given in
accordance with this Section 21.

	 	
          22.      Miscellaneous.  (a)
Entire  Agreement.  This Agreement  contains the entire  understanding  and
agreement between the Parties  concerning the subject matter hereof and, as
of  the  Start  Date,  supersedes  all  prior  agreements,  understandings,
discussions,  negotiations  and  undertakings,  whether  written  or  oral,
between the Parties with respect thereto.

	
	

	 	
          (b)      Severability.  In
the event that any provision or portion of this
Agreement shall be determined to be invalid or unenforceable for any reason, in
whole or in part, the remaining provisions of this Agreement shall be unaffected
thereby and shall remain in full force and effect to the fullest extent
permitted by law so as to achieve the purposes of this Agreement.

	
	

	 	
          (c)      Amendment or Waiver.  No
provision in this Agreement may be amended unless
such amendment is set forth in a writing signed by the Parties. No waiver by
either Party of any breach of any condition or provision contained in this
Agreement shall be deemed a waiver of any similar or dissimilar condition or
provision at the same or any prior or subsequent time. To be effective, any
waiver must be set forth in a writing signed by the waiving Party. 

	
	

	 	
          (d)      Headings.  The
headings of the Sections contained in this Agreement are
for convenience only and shall not be deemed to control or affect the meaning or
construction of any provision of this Agreement.

	
	

	 	
          (e)      Beneficiaries/References.  The
Executive shall be entitled,  to the extent  permitted under any applicable
law, to select and change a  beneficiary  or  beneficiaries  to receive any
compensation or

27

	 	
benefit
hereunder following the Executive’s death by giving the Company written
notice thereof. In the event of the Executive’s death or a judicial
determination of his incompetence, reference in this Agreement to the Executive
shall be deemed, where appropriate, to refer to his beneficiary, estate or other
legal representative.

	
	

	 	
          (f)      Survivorship.  Except
as otherwise set forth in this Agreement, the
respective rights and obligations of the Parties under Sections 8-18, and 20-22
shall survive any termination of the Executive’s employment hereunder.

	
	

	 	
          (g)      Governing Law/Jurisdiction.  This
Agreement shall be governed, construed,
performed and enforced in accordance with the laws of the State of New York,
without reference to principles of conflicts of laws. 

	
	

	 	
          (h)      Counterparts.  This
Agreement may be executed in two or more counterparts,
each of which shall be deemed an original, but all of which, when taken
together, shall constitute one and the same instrument.

‹Signature Page follows›

	 	
         IN
WITNESS WHEREOF, the undersigned have executed this Agreement as of the date
first set forth above. 

	 	OPTIMARK HOLDINGS, INC.

	 	By:	/s/ Neil G. Cohen	 
	 	 	
 	 
	 	 	Name:   Neil G. Cohen

Title:     Secretary	 

	 		/s/ Robert J. Warshaw	 
	 	 	
 	 
	 	 	Robert J. WarshawOptimark Holdings Inc. 10Q - Exhibit 10.2

EXHIBIT 10.2

	 	
          AMENDMENT NO. 1 dated as of August 16, 2001 (the "Amendment") to the EMPLOYMENT
AGREEMENT (the "Agreement") dated as of August 16, 2001, between OPTIMARK HOLDINGS, INC., a
Delaware corporation (the "Company"), and ROBERT J. WARSHAW, an individual (the "Executive").
Capitalized terms used herein without definition shall have the meanings ascribed to them in the
Agreement.  All references below to "Sections" are to the corresponding Sections of the Agreement.

	
	

	 	
          The
Company and the Executive desire to amend the Agreement in accordance with the
terms hereof. 

	
	

	 	
          Accordingly,
in consideration of the premises and mutual covenants contained herein and for
other good and valuable consideration, the receipt and adequacy of which are
mutually acknowledged, the Company and the Executive agree to amend the
Agreement as follows: 

	
	

	 	
          
        SECTION 1.01.  Amendment to Section 4.  Section 4 of the Agreement is hereby amended
and restated in its entirety to read as follows:

	 	
          “4.     Base Salary.  Commencing as of the Start Date, the Executive shall be paid
an annualized Base Salary of $250,000. Such Base Salary shall be payable in
accordance with the regular payroll practices of the Company applicable to
senior executives, but no less frequently than monthly. The Base Salary shall
not be decreased at any time, or for any purpose, during the Term of Employment
(including, without limitation, for the purpose of determining benefits due
under Section 9). The Company shall provide the Executive with written notice of
his base salary and minimum annual incentive bonus award for a subsequent Term
of Employment at least ninety (90) days prior to expiration of the then current
Term of Employment; provided, however, that if such notice
indicates an annual base salary of less than $250,000 for the subsequent Term of
Employment, then any decision by Employee not to renew this Agreement in
accordance with Section 2 shall not be considered a voluntary termination by the
Employee pursuant to Section 9(e) hereof, 

2

	 	
but rather will be deemed an expiration of the Term of Employment pursuant to
Section 9(f) hereof.”

	 	
          
        SECTION  1.02.  Amendment to   Sections    9(a)(ii)   and
9(b)(ii). Each of Sections 9(a)(ii) and 9(b)(ii) of the Agreement are hereby
amended and restated in their entirety to read as follows:

	 	
          “(ii)      accelerated vesting of any option tranche that would otherwise have vested
within one year of the Termination Date and the ability to exercise vested
options until the earlier of (i) three years from the Termination Date; (ii)
ninety days following the date of the Company’s underwritten public
offering or a Change in Control in which holders of the Company’s Series F
Preferred Stock (including the Executive if he elects to exercise options on
Series F Preferred Stock) will receive consideration, but in no event less than
90 days from the Termination Date; or (iii) the maximum stated term of
option;" 

	 	
          
        SECTION 1.03.  Amendment to Section 9(e).  Section
9(e) of the Agreement is hereby amended and restated in its entirety to read as follows:

	 	
          “(e)      Voluntary Termination.  In the event that the Executive terminates his
employment with the Company on his own initiative (other than by death, for
Disability or by a Constructive Termination), or in the event the Executive
delivers a notice not to renew this Agreement in accordance with Section 2
(except under the circumstances set forth in the proviso at the end of Section
4), he shall have the same entitlements as provided in Section 9(c)(ii) in the
case of a termination by the Company for Cause. A voluntary termination under
this Section 9(e) shall be effective upon written notice to the Company and
shall not be deemed a breach of this Agreement.”

3

	 	
          
        SECTION 1.04.  Amendment to Section 9(f).  The first paragraph of Section 9(e) of the
Agreement is hereby amended and restated in its entirety to read as follows:

	 	
          “(f)     Expiration of the Term of Employment.  In the event that the
Executive’s employment terminates because the Company has delivered notice
not to renew this Agreement in accordance with Section 2 or because the
Executive has delivered notice not to renew this Agreement under the
circumstances set forth in the proviso at the end of Section 4, then he shall be
entitled to:" 

	 	
          
        SECTION 1.05.  Amendment to Section 11(a).  The last sentence of Section 11(a) of the
Agreement is hereby amended and restated in its entirety to read as follows:

	 	
“This Section 11 shall not apply to suits brought directly by the Company against the
Executive (but, for the avoidance of doubt, this Section 11 shall apply to
derivative suits brought by the Company’s stockholders in the name of the
Company).”

	 	
          
        SECTION 1.06.  Addition of Section 11(c).  The following new paragraph (c) is hereby
added to the end of Section 11:

	 	
          “(c)     For as long as the Company keeps directors’ and officers’ liability
insurance policy (or policies) for at least one of its other officers or
directors, the Company shall ensure that such liability insurance policy (or
policies) provides the Executive with comprehensive coverage equal to at least
the coverage that the Company provides for the other officers or
directors.” 

4

	 	
          
        SECTION 1.07.  Addition of Section 22(i).  The following new paragraph (i) is hereby
added to the end of Section 22:

	 	
          “(i)     No Third Party  Beneficiaries.  Neither this Agreement nor any provision hereof
(including  Section  17(f)) is intended to confer upon any Person  other than the Parties  hereto
any rights or remedies hereunder.”

	 	
          
        SECTION 1.08.  Amendment to Section 5(a).  Section 5(a)
of the Agreement is hereby
amended and restated in its entirety to read as follows:

	 	        (a)     The Executive
shall receive an annual incentive bonus award from the Company in
respect of the first Year of this Agreement. The minimum annual incentive bonus
award payable to the Executive in respect of this first Year shall be $200,000
and the Executive shall be eligible for an additional bonus award in this first
Year at the discretion of the Board. The Executive shall receive this $200,000
annual incentive bonus award payment for the first year on a bi-monthly basis on
the 15th and last business day of each month. The Executive shall be
eligible for a minimum annual incentive bonus award in other Years, if any, in
the amount set forth in the notice provided to the Executive pursuant to the
last sentence of Section 4 hereof. 

	 	
          
        SECTION 1.09.  Amendment to Section 6.  Section 6 of
the Agreement is hereby amended
and restated in its entirety to read as follows:

	 	
          Long-Term Incentive Awards.  As of the date that
options on shares of the
Company’s Series F Preferred Stock (“Shares”) are granted to
senior executives of the Company, the Company shall grant to the Executive
options to acquire 1,950,000 Shares (the “Target Amount”). The shares
underlying such grants shall be those shares as are used in the most recently
adopted stock option plan for all employees, or, in the event there is no
employee stock option plan in place, on those shares which are most senior as to
liquidation and sale preferences from time-to-time. Such options shall be
exercisable as specified in the stock option agreement governing such grant at
an exercise price that the 

5

	 	
Board
of Directors determines is equal to the fair market value per Share at the time
of such grant. Subject to Sections 9 and 10(a) hereof, such options shall vest
no slower than in four equal annual installments on each of the first four
anniversaries of the date of the grant. The Executive shall also be eligible to
participate in future option and equity awards on the same basis as other senior
level executives of the Company. The Company will make good faith efforts to
provide drag-along and tag-along rights in connection with shares of its Series
Company’s Series F Preferred Stock that are subject to options granted
thereon relative to the private sale of the Company’s Series E Cumulative
Preferred Stock by a holder thereof.

	 	
          
        SECTION 2.01.  Effect of Amendment.  Except as
specifically  amended hereby,
all of the agreements,  terms and provisions of the Agreement  remain  unchanged
and are hereby ratified and confirmed.  All references in any other documents to
the Agreement shall be deemed to refer to the Agreement as amended hereby.

	
	

	 	
          
        SECTION 2.02.  Governing Law.  This
Amendment shall be governed, construed, performed
and enforced in accordance with the laws of the State
of New York, without reference to principles of
conflicts of laws.

	
	

	 	
          
        SECTION 2.03.  Counterparts.  This Amendment may be executed in any number of
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

2

	 	
          
IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date
first set forth above.

	 	OPTIMARK HOLDINGS, INC.

	 	By:	/s/ Neil G. Cohen	 
	 	 	
 	 
	 	 	Name:   Neil G. Cohen

Title:     Secretary	 

	 		/s/ Robert J. Warshaw	 
	 	 	
 	 
	 	 	Robert J. Warshaw

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