Document:

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                                                                   EXHIBIT 10.20

                               SUBLEASE AGREEMENT

         This Sublease Agreement ("Sublease") is made as of the 19th day of
December, 2001, by and between ANSWERTHINK, INC., a Florida corporation,
successor in interest to ANSWERTHINK CONSULTING GROUP, INC., a Florida
corporation ("Sublessor"), whose present address is 1001 Brickell Bay Drive,
Suite 3000, Miami, Florida 33131 and EYETECH PHARMACEUTICALS, INC., a Delaware
corporation ("Sublessee"), whose present address is 666 Fifth Avenue, 35th
Floor, New York, New York 10013.

                                    RECITALS

         A. Sublessor is the Tenant under that certain Agreement of Lease with
500-512 Seventh Avenue Limited Partnership, a New York limited partnership
("Master Landlord") dated April 13, 2000, as amended by that certain First
Amendment to Lease by and between Sublessor and Master Landlord dated September,
2000 (the "Master Lease") covering certain premises (the "Master Lease
Premises") located on the seventeenth (17th ) and eighteenth (18th) floors of
the building known as 500 Seventh Avenue, New York, New York 10016 (the
"Building"). A copy of the Master Lease is attached hereto as Exhibit "A" and
hereby made a part of this Sublease.

         B. Sublessor wishes to sublease to Sublessee, and Sublessee desires to
sublease from Sublessor, that certain portion of the Master Lease Premises
located on the eighteenth (18th) floor of the Building, consisting of
approximate 16,706 rentable square feet, as more particularly described on the
sketch attached hereto as Exhibit "B" and hereby made a part of this Sublease
(the "Subleased Premises").

         NOW, THEREFORE, in consideration of the mutual covenants contained in
this Sublease, and intending to be legally bound, Sublessor and Sublessee agree
as follows:

         1.       Recitals. The foregoing Recitals are true and correct and are
hereby incorporated herein by reference.

         2.       Definitions. Capitalized terms not defined in this Sublease
shall have the meanings given to them in the Master Lease.

         3.       Demise and Sublease Term. Sublessor hereby subleases the
Subleased Premises to Sublessee, and Sublessee hereby subleases the Subleased
Premises from Sublessor, for a term (the "Sublease Term") beginning on the date
(the "Sublease Commencement Date") of Substantial Completion (as hereinafter
defined) of the Sublease Improvements (as hereinafter defined), unless sooner
terminated in accordance herewith, and ending on October 31, 2010. Provided that
this Sublease is executed by Sublessee and delivered to Sublessor, and provided
the Security

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Letter (as described in Section 6(a)), in form and content satisfactory to
Sublessor is delivered to Sublessor, all by or before 5:00 P.M. EST, December
17, 2001, Sublessor shall use good faith efforts and reasonable diligence to
attempt to achieve Substantial Completion of the construction of the Sublease
Improvements (as that term is hereinbelow defined), by March 31, 2002, subject
to force majeure and Sublessee Delays. In the event Sublessor fails (whether by
reason of failure to Substantially Complete the Sublease Improvements or
otherwise) to deliver possession by or before April 30, 2002, Sublessee shall
have the option to terminate this Sublease Agreement by written notice given not
later than fifteen (15) days thereafter; upon such notice by Sublessee, this
Sublease Agreement shall terminate with the same force and effect as if such
date were set forth as the natural expiration of this Sublease Agreement and
Sublessor shall promptly (but in any event within thirty (30) days of the giving
of such notice by Sublessee) refund to Sublessee all rent, security deposits and
other sums paid by Sublessee to Sublessor on account of this Sublease Agreement.
Sublessor's obligation to refund such sums shall survive termination of this
Sublease Agreement. Sublessor and Sublessee shall enter into a memorandum
stipulating the actual Sublease Commencement Date within five (5) business days
following the determination of the Sublease Commencement Date.

         4.       Rent.

                  (a)      All sums due under this Sublease in addition to Fixed
Annual Rent (as hereinafter defined) are herein referred to as "Additional
Rent"; Fixed Annual Rent and Additional Rent are herein collectively referred to
as "Rent". Sublessee's covenant to pay Rent is independent of any other
covenant, agreement, term or condition of this Sublease.

                  (b)      All Rent payable to Sublessor hereunder shall be paid
to Sublessor at its offices located at 1001 Brickell Bay Drive, Miami, Florida
33131, Attention: Controller, or such other place as Sublessor may designate, in
writing, in lawful money of the United States of America, without demand,
deduction, offset or abatement, except as herein expressly provided. Sublessee
may, at its option, make payment to Sublessor by wire transfer in accordance
with the wire instructions on Exhibit "C" attached hereto and hereby made a part
hereof. The first full monthly installment of Rent shall be delivered to
Sublessor by Sublessee upon execution of this Sublease by Sublessee. If the
first month of the Sublease Term is a partial month, the installment of Rent
payable for the second month of the Sublease Term shall be prorated, based on
the number of days of the Sublease Term falling within the first calendar month
of the Sublease Term, and such prorated amount shall be payable as the second
monthly installment of Rent due and payable hereunder.

                  (c)      Beginning on the Sublease Commencement Date, and
subject to abatements as hereinafter provided, Sublessee shall pay to Sublessor
annual fixed rent ("Fixed Annual Rent"), without notice or demand and without
deduction or set-

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off, in equal monthly installments on the first day of each calendar month
throughout the Sublease Term, in accordance with following schedule:

<TABLE>
<CAPTION>
Sq. Ft.
Rental                           Annual                     Monthly
-------                          ------                     -------
<S>                            <C>                         <C>
$45.00                         $751,770.00                 $62,647.50
</TABLE>

Notwithstanding the amounts set forth above Sublessee shall have no liability
for the payment of the monthly installment of Fixed Annual Rent for the first
(1st) and the thirteenth (13th) months of the Sublease Term (the "First
Abatement") and the sixty-first (61st) and the sixty-second (62nd) months of the
Sublease Term (the "Second Abatement"), provided that if either Sublessor or
Sublessee exercises the right to terminate this Sublease pursuant to the terms
of Section 13 hereof, Sublessee shall have waived its right to the Second
Abatement. If Sublessee does not pay any installment of Fixed Annual Rent or
payment of Additional Rent (as hereinafter defined) within three (3) days of the
date such payment is due, then Sublessee shall pay to Sublessor interest thereon
at the Interest Rate, from the date when such installment or payment shall have
become due to the date of the payment thereof and such interest shall be deemed
Additional Rent. Sublessor's right to the aforementioned delinquent interest is
in addition to all of Sublessor's rights and remedies under this Sublease, at
law or in equity.

         5.       Sublease Improvements.

                  (a)      Except as otherwise provided in this paragraph 5,
Sublessee shall accept the Subleased Premises in their "AS-IS" condition. The
Sublessor shall construct improvements in the Sublease Premises ("the Sublease
Improvements") in accordance with the Final Plans therefor, to be prepared and
developed in accordance with the provisions set forth in subsection(b), below,
with finishes, fixtures, hardware, lighting and materials of a standard
equivalent to that of Sublessor's premises in the western portion of the 17th
floor of the Building. The date of the Substantial Completion of the Sublease
Improvements shall be deemed to constitute the Sublease Commencement Date. The
term "Substantial Completion", as used herein shall mean that the work on the
Sublease Improvements is complete except for minor or insubstantial details of
construction, mechanical adjustment, decoration, or other punch-list items which
remain to be performed (the "Punch-List Items").

                  (b)      Sublessor's architect (the "Architect") will prepare
architectural plans and specifications (the "Architectural Plans") for the
Sublease Improvements on the basis of the tenant fit-out outline and the space
plan prepared by Meyer Associates, Inc., dated October 24, 2001, Project Number
01329, attached hereto as Exhibit "D" and hereby made a part of the Sublease
(the tenant fit-out outline and space plan being herein collectively referred to
as the "Space Plan"). Within three (3) business days after the completed
Architectural Plans have been submitted to

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Sublessee, Sublessee agrees to provide Sublessor and the Architect with
Sublessee's approval of such Architectural Plans or written disapproval of such
Architectural Plans, stating in detail the specific reasons for such disapproval
and the corrections necessary thereto. Subject to the terms of this subsection,
the Architect shall make such corrections, if necessary. Following the approval
of the Architectural Plans by Sublessee, the Architect shall prepare
permit-ready plans and specifications (the "Final Plans") for the Sublease
Improvements. Within three (3) business days after the Final Plans have been
submitted to Sublessee, Sublessee agrees to provide Sublessor and the Architect
with Sublessee's written approval of such Final Plans or written disapproval of
such Final Plans, stating in detail the reasons for such disapproval and the
corrections necessary thereto. Subject to the term of this subsection, the
Architect shall make such corrections, if necessary. Sublessee shall have no
right to object to the Architectural Plans or the Final Plans for the Sublease
Improvements unless and to the extent such Architectural Plans or Final Plans,
as the case may be, shall be materially inconsistent with the Space Plan. Any
delay by Sublessee in the approval of the Architectural Plan or Final Plans or
any disapproval thereof which is not based on the foregoing standard of
inconsistency with the Space Plan shall be deemed a Sublessee's Delay (as such
term is hereinafter defined).

                  (c)      Sublessee shall have the right to request changes to
the Final Plans ("Change Orders"). Any such request for a Change Order shall be
made only by the Sublessee's Coordinator (as such term is defined below). All
Change Orders initiated by Sublessee's Coordinator shall be forwarded to
Sublessor and Sublessor's general contractor. Within fifteen (15) business days
following receipt of any such request for a Change Order, Sublessor shall notify
Sublessee of its approval or disapproval thereof, which Sublessor shall not
unreasonably withhold. Sublessee shall be responsible for all net additional
costs to the Total Costs of the Sublease Improvements (as such term is defined
below) entailed by any such Change Order, and, to the extent that any such
Change Order shall delay the Substantial Completion of the Sublease
Improvements, such delay shall constitute a Sublessee's Delay (as such term is
defined below).

                  (d)      On the date of Substantial Completion of the Sublease
Improvements, Sublessor and Sublessee shall inspect the Subleased Premises and
shall in good faith mutually agree upon a list of Punch-List Items.

                  (e)      Sublessee shall designate in writing one (1) person
("Sublessee's Coordinator") who shall be responsible to review all aspects of
the Sublease Improvements, make periodic on-site inspections, monitor compliance
with the terms of the Sublease and approve and coordinate any Sublessee issues
with Sublessor on behalf of Sublessee.

                  (f)      Sublessee hereby agrees that it shall contribute to
the cost of the Sublease Improvements an amount ("Sublessee's Contribution")
equal to the costs of

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all materials and labor in connection with the installation of (i) any and all
millwork, plumbing (except the plumbing for the sink in the pantry, as depicted
on the Space Plan) and appliances in the Premises and (ii) the feature wall in
the reception area as depicted on the Space Plan (the work described in (i) and
(ii) being herein referred to as "Sublessee's Additional Work"), including,
without limitation, all of the Sublessor's contractor's general conditions,
profit and overhead allocable to the Sublessee's Additional Work. Sublessor
shall submit requests for bids for each component of the Sublessee's Additional
Work to at least three (3) reputable subcontractors acceptable to Sublessor and
Sublessee. Sublessee shall review the bids and, within three (3) days following
receipt thereof, shall indicate to Sublessor Sublessee's choice(s) of
subcontractor(s) for Sublessee's Additional Work. Sublessee shall pay to
Sublessor the Sublessee's Contribution within three (3) business days following
receipt of an invoice therefor from Lessor, and such Sublessee's Contribution
shall be paid to Sublessor, in any event, prior to the commencement of
construction of the Sublease Improvements. Sublessee shall pay to Sublessor an
amount equal to the cost of any Change Order within three (3) business days
following receipt of an invoice therefor from Sublessor.

                  (g)      If any Sublessee Delay shall occur, then the term of
this Sublease and Sublessee's obligation to pay rent hereunder will commence on
the date on which the Sublease Improvements would have been Substantially
Completed but for the Sublessee Delay. For purposes of this Sublease, each one
or more of the following shall constitute a "Sublessee Delay": (i) Sublessee's
failure to timely approve the Architectural Plans or the Final Plans or
Sublessee's expressing any disapproval thereof unless and to the extent such
disapproval shall be based upon material inconsistency thereof with the Space
Plan; (ii) Sublessee's request for materials, finishes or installations
constituting "long-lead time items," as reasonably determined by Sublessor;
(iii) Sublessee's request for a Change Order in the Sublease Improvements or in
the Final Plans (notwithstanding Sublessor's approval of any such changes), (iv)
any delays in the Substantial Completion of the Sublease Improvements or any
portion thereof resulting from Sublessee's Additional Work or caused by any
subcontractor selected to perform any of Sublessee's Additional Work, or (v) any
other act or omission by Sublessee or its agents, including, without limitation,
Sublessee's Coordinator, which directly or indirectly delays completion of the
Sublease Improvements or Sublessor's delivery to Sublessee of possession of the
Subleased Premises.

                  (h)      Sublessee's acceptance of the Subleased Premises
shall be deemed its approval of the condition of the Subleased Premises,
including, without limitation, the Sublease Improvements.

         6.       Security Deposit

                  (a)      Sublessee shall by not later than December 17, 2001
deliver to Sublessor and, shall, except as otherwise provided herein, maintain
in

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effect at all times during the Sublease Term, an irrevocable letter of credit,
in a form and with terms acceptable to Sublessor in its sole discretion, in the
amount of $939,705.00 as security for the faithful performance and observance by
Sublessee of the terms, provisions, covenants and conditions of this Sublease.
Such letter of credit shall be issued by a banking corporation reasonably
satisfactory to Sublessor and having its principal place of business or its duly
licensed branch or agency in the State of New York. Such letter of credit shall
have an expiration date no earlier than the first anniversary of the date of
issuance thereof and shall be automatically renewed from year to year unless
terminated by the issuer thereof by notice to Sublessor given not less than
forty-five (45) days prior to the expiration thereof. Except as otherwise
provided herein, Sublessee shall, throughout the Sublease Term, deliver to
Sublessor, in the event of the termination of any such letter of credit,
replacement letters of credit in lieu thereof (each such letter of credit and
such extensions or replacements thereof, as the case may be, is hereinafter
referred to as a "Security Letter") no later than forty-five (45) days prior to
the expiration date of the preceding Security Letter. The term of each such
Security Letter shall be not less than one (1) year and shall be automatically
renewable from year to year as aforesaid. If Sublessee shall fail to obtain any
replacement of a Security Letter within the time limits set forth in this
subparagraph (a), Sublessor may draw down the full amount of the existing
Security Letter and retain the same as security hereunder.

                  (b)      In the event, Subtenant defaults in respect to any of
the terms, provisions, covenants and conditions of this Sublease after the
expiration of applicable notice and cure periods, including, but not limited to,
the payment of Rent, Sublessor may draw upon the Security Letter to the extent
required for the payment of any Rent or any other sum as to which Sublessee is
in default or for any sum which Sublessor may expend or may be required to
expend by reason of Sublessee's default in respect of any of the terms,
provisions, covenants and conditions of this Sublease, including but not limited
to, any damages or deficiency accrued before or after summary proceedings or
other re-entry by Sublessor. To insure that Sublessor may utilize the security
represented by the Security Letter in the manner, for the purpose, and to the
extent provided in this paragraph 6, each Security Letter shall provide that the
full amount thereof may be drawn down by Sublessor upon the presentation to the
issuing bank of Sublessor's draft drawn on the issuing bank without accompanying
memoranda on statement of beneficiary.

                  (c)      In the event Sublessor draws any portion or all of
the security delivered hereunder, Sublessee shall forthwith restore the amount
so applied or retained by providing a supplemental Security Letter so that at
all times the amount deposited shall be not less than the security required by
subparagraph (a) hereof.

                  (d)      In the event that (i) Sublessee shall fully and
faithfully comply with all of the terms, provisions, covenants and conditions of
this Sublease; (ii) Sublessee

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shall not have been in monetary default hereunder more than one (1) time in any
given year or more than three (3) times in the aggregate and (iii) the
Sublessee's Financial Statements (as hereinafter defined) evidence a net worth
acceptable to Sublessor, in its sole discretion, the security shall be reduced
as follows: (x) upon the expiration of the thirty-seventh (37th) full calendar
month of the Sublease Term to $751,770.00 and (y) upon the expiration of the
sixty-first (61st) full calendar month of the Sublease Term to $563,827.50.
Sublessee agrees that on each anniversary of the date hereof, Sublessee shall
deliver to Sublessor an unconditional audited financial statement of Sublessee
(the "Financial Statement") for the prior year evidencing Sublessee's tangible
net worth prepared in accordance with GAAP, consistently applied from period to
period, by an independent certified public accounting firm acceptable to
Sublessor (the "Acceptable Firm"). Sublessor hereby agrees that
PricewaterhouseCoopers LLP or another so-called "Big 5" accounting firm shall be
deemed acceptable to Sublessor.

                  (e)      Provided that Sublessee shall cure all defaults in
the performance of the terms, provisions, covenants and conditions of this
Sublease, within any applicable cure periods, the security shall be returned to
Sublessee within thirty (30) days after the date fixed as the end of the
Sublease or the date of earlier termination of this Sublease and after delivery
of entire possession of the Subleased Premises to Sublessor. Sublessee further
covenants that it will not assign or encumber or attempt to assign or encumber
the monies deposited herein as security and that neither Sublessor nor its
successors or assigns shall be bound by any such assignment, encumbrance,
attempted assignment or attempted encumbrance.

         7.       Brokers. Sublessor and Sublessee each represents and warrants
to the other that neither has dealt with any broker or other intermediary in
connection with this transaction other than Insignia/ESG, Inc. and Newmark &
Company Real Estate, Inc. (collectively, the "Brokers"), whose commission shall
be paid by Sublessor in accordance with the provisions of a separate commission
agreement. Each party agrees to, and hereby does, defend, indemnify and hold the
other harmless against and from any brokerage commissions or claims therefor by
any party, other than the Brokers, claiming to have dealt with the indemnifying
party, and all costs, expenses and liabilities in connection therewith,
including, without limitation, reasonable attorneys' fees and expenses for any
breach of the foregoing.

         8.       Notices. All notices and demands under this Sublease shall be
in writing and shall be effective by transmission to the applicable address set
forth below, (i) on the same day sent, by facsimile transmission with a
confirmation of transmission and receipt, or (ii) one (1) day after being sent
by overnight delivery with a nationally recognized overnight delivery service
that provides tracking and proof of receipt, or (iii) three (3) days after being
deposited in the U.S. mails, by registered or certified mail, return receipt
requested (except for notices to Master Landlord, which shall be given in
accordance with Section 31.01 of the Master Lease).

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If to Master Landlord:           As required under the Lease.

If to Sublessor:                 At the address set forth in the opening
                                 paragraph of this Sublease,
                                 Attention: Controller.

If to Sublessee:                 At the address set forth in the opening
                                 paragraph of this Sublease,
                                 Attention: President and
                                            Chief Operating Officer

Either party may change its address for notices and demands under this Sublease
by notice to the other party.

         9.       Subordination to Lease.

                  (a)      This Sublease is subject and subordinate to the
Master Lease. Sublessee shall not cause a default under the Master Lease or
permit its employees, agents, contractors or invitees to cause a default under
the Master Lease. Sublessee shall have all of the rights and assume all the
responsibilities of Tenant under the lease with regard to the Subleased Premises
except as specifically modified by the Sublease Agreement (provided, however,
that Sublessee shall be obligated to pay, as Rent hereunder, only the Fixed
Annual Rent and Additional Rent set forth in the Sublease Agreement). If the
Master Lease terminates before the expiration of the term of this Sublease,
Sublessor shall not be liable to Sublessee for any damages arising out of such
termination.

                  (b)      Except as set forth below, all the terms, covenants
and conditions in the Master Lease are incorporated as a part of this Sublease,
provided, however, all references in the Lease to "Landlord", "Tenant", "Lease",
"Demised Premises", "Commencement Date" and "Term" are hereby revised to read:
"Sublessor", "Sublessee", "Sublease", "Subleased Premises", "Sublease
Commencement Date" and "Sublease Term" and all derivatives thereof, and all
references in the Lease to "subletting", "sublease" and "sublessee" are hereby
revised to read: "Subsubletting", "Subsublease" and "Subsublessee",
respectively; further provided, however, that the following sections of the
Master Lease, as incorporated in this Sublease, are hereby revised as follows:
(i) in Section 3.01, Section 3.03(c), Section 4.01, the first instance in the
last sentence of Section 4.02, Section 4.03, Section 4.04, Section 4.05, Section
4.06, Section 5.02, Section 5.03, Section 6.01, Section 9.09, except in the last
sentence thereof, Section 10.02, the first instance in the first sentence of
Section 11.01, Section 11.06(d), Section 11.06(j), the last sentence of Section
14.01, Section 14.05, Section 15.02, Section 15.03, Section 21.03, Section
21.04, Section 21.07, the first paragraph of Section 29.01, Section 36 and
Section 44.01, all references therein to "Landlord" are hereby

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revised to read "Master Landlord"; (ii) in Section 8.02(a), Section 9.01,
Section 15.01, Section 15.04 and Section 15.05, the term "Landlord" is hereby
revised to read "Master Landlord or Sublessor"; (iii) in Section 6.01(vii)(2),
Section 9.02 and the second paragraph of Section 29.01, the term "Landlord" is
hereby revised to read "at Sublessor's discretion, Master Landlord and/or
Sublessor"; (iv) in the second line of Section 3.01(a), the year "2000" is
revised to read"2001," and the year "2001" is revised to read "2002"; (v) in the
second line of Section 3.01(b), the phrase "eight and fourteen hundredths
percent (8.14%) is revised to read "two and seventy-six hundredths percent
(2.76%)"; (vi) in the second line of Section 3.01(e), the year "2000" is revised
to read "2001"; (vii) in the second line of Section 3.01(i), the year "2000" is
revised to read "2001"; (viii) in Section 3.01(j), the following phrase is
hereby inserted at the end of the last sentence thereof: "to the extent
Sublessor shall have received same from Master Landlord."; (ix) in Section
3.01(k), the term "49,304 " is hereby revised to read "16,706"; (x) in Section
4.05, in the next to the last sentence thereof, the term "Tenant" is hereby
revised to read "Sublessor"; (xi) in Section 6.01, wherever the term
"$50,000.00" appears, such term is hereby revised to read "$10,000.00"; wherever
the term "$100,000.00" appears, such term is hereby revised to read
"$25,000.00"; wherever the term "fifteen (15) Business Days" appears, such term
is hereby revised to read "twenty (20) Business Days"; wherever the term "ten
(10) Business Days" appears, such term is hereby revised to read "fifteen (15)
Business Days," and the parenthetical phrase in the last sentence of the first
paragraph of this Section is hereby deleted; (xii) in Section 6.01(vii), Section
8.02(c) and in every other provision of the Master Lease as incorporated in this
Sublease, where there is required to be provided a bond, at the discretion of
Sublessor, Sublessee shall furnish such bond to Sublessor and/or Master
Landlord; (xiii) in Section 9.08(c), the phrase "the building and fixtures,
appurtenances and equipment therein" is hereby revised to read "the furniture,
furnishings, fixtures and other properties belonging to Sublessor"; (xiv) in the
eleventh line of Section 11.10(a), the amount "150,000,000" is revised to read
"25,000,000"; (xv) the language beginning with the word "provided" in the
thirteenth line of Section 11.10(a) and continuing through the end of the
subsection is revised to read: "and shall, on or before the effective date of
such assignment or sublease, deliver to Landlord as additional security
hereunder, a letter of credit in favor of Landlord, on the same terms and
conditions as required of the Sublessee under Section 6 of the Sublease
Agreement" (xvi) in Section 11.05(a) and Section 11.05(c), the term "forty five
(45) days" is hereby revised to read "twenty (20) days"; (xvii) in Section
15.01, the first sentence thereof is hereby revised to read "Sublessee shall
permit Master Landlord to erect, use and maintain pipes, ducts and conduits in
and through the Subleased Premises, provided the same are installed adjacent to
or concealed behind walls and ceilings of the Subleased Premises"; (xviii) in
Section 16.02(a) and Section 16.02(f), the term "five (5) days" is hereby
revised to read "two (2) days"; (xix) in Section 16.02(b), the term "fifteen
(15) days" is hereby revised to read "seven (7) days"; (xx) in Section 16.02(g),
the term "ten (10) days" is hereby revised to read "five (5) days"; (xxi) in
Section 21.02, the following phrase is hereby added, after the

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words "if possible", in the sixth line thereof: "provided Master Landlord shall
have notified Sublessor thereof"; (xxii) in Section 22.01, wherever the phrases
"Building" or "Land and Building" appears, such terms are hereby revised to read
"the leasehold interest of the Sublessor in the Master Lease Premises, under the
Master Lease"; (xxiii) in Section 29, the last sentence of the first paragraph
thereof is hereby amended by inserting the words: "by Master Landlord," after
the word "applied," therein; (xxiv) in Section 44.01, the last sentence thereof
is hereby deleted in its entirety; (xxv) in Section 51.02(a), the term "limited
partnership" is hereby amended to read: "corporation"; (xxvi) and in Section
51.02(c) the term "Land and Building" is hereby amended to read: "the leasehold
Interest of Sublessor in the Master Lease Premises." To the extent incorporated
into this Sublease, Sublessee shall perform each and every of the obligations of
the Sublessor, as the tenant under the Master Lease. Notwithstanding any other
provision of this Sublease, Sublessor, as sublessor under this Sublease, shall
have the benefit of all rights, remedies and limitations of liability enjoyed by
Master Landlord, as the landlord under the Master Lease, but, notwithstanding
the incorporation of certain of the terms, covenants and conditions of the
Master Lease as provided above, (i) Sublessor shall have no obligations under
this Sublease to perform the obligations of Master Landlord, as the landlord
under the Master Lease, including without limitation any obligation to provide
services, make repairs or maintain insurance, and Sublessee shall seek such
performance and obtain such services solely from the Master Landlord; (ii)
Sublessor shall not be bound by any representations or warranties of the Master
Landlord under the Master Lease; (iii) in any instance where the consent of
Master Landlord is required under the terms of the Master Lease, the consent of
Sublessor and Master Landlord shall be required; and (iv) Sublessor shall not be
liable to Sublessee for any failure or delay in Master Landlord's performance of
its obligations, as landlord under the Master Lease. Upon request of Sublessee,
Sublessor shall, at Sublessee's expense, use reasonable efforts to cooperate
with Sublessee in its efforts to cause Master Landlord to perform its
obligations under the Master Lease; provided that in no event shall Sublessor be
obligated to institute legal proceedings.

                  (c)      Notwithstanding any contrary provision of this
Sublease, the following terms and conditions of the Lease (and references
thereto) are not incorporated as provisions of this Sublease: Section 1.01,
Section 1.05, Sections 2.01 through 2.03, Section 3.10, Section 3.11, Section
4.07, Section 9.10, Article 10, Section 21.01, Section 21.05, Section 21.06,
Article 24, Article 31, Article 40, Article 42, Article 45, Article 47, Article
48, Article 50, Article 52, Article 53, Exhibits A-1, D, E-1, E-2 and E-3 of the
Master Lease. Sublessee acknowledges and agrees that it has no right to or
interest in those rights created under the following provisions of the Master
Lease: Sections 47, 48, 50, 52 and 53.

         10.      Landlord's Approval. This Sublease is subject to the approval
of the Master Landlord pursuant to Article 11 of the Master Lease. Both parties
shall

                                       10

<PAGE>

cooperate to timely furnish to Landlord any information necessary to Landlord's
decision.

         11.      Entire Agreement. This Sublease contains all of the
agreements, conditions, warranties and representations relating to the sublease
of the Subleased Premises and may be amended or modified only by written
instruments executed by both Sublessor and Sublessee.

         12.      Authority. Sublessor and Sublessee each represent and warrant
to the other that the individual(s) executing and delivering this Sublease on
its behalf is/are duly authorized to do so and that this Sublease is binding on
Sublessee and Sublessor in accordance with its terms. Simultaneously with the
execution of this Sublease, Sublessee shall deliver evidence of such authority
to Sublessor in a form reasonably satisfactory to Sublessor.

         13.      Option to Terminate. Sublessor and Sublessee shall each have
the right and option, exercisable by giving the other party a minimum of nine
(9) months prior written notice thereof, to terminate this Sublease at the
expiration of the sixty-first (61st) full month of the Sublease Term (the
"Option to Terminate") and, in the event the Sublessee exercises the Option to
Terminate, Sublessee shall pay to Landlord an amount equal to the sum of (x)
$125,295.00 (the amount of the First Abatement) plus (y) the sum of the
unamortized brokerage commissions, legal fees and costs and costs of
construction of the Sublease Improvements incurred by Sublessor (assuming
amortization on a straight-line basis over sixty-one (61) months. Sublessee
shall pay all Rent under the Sublease and abide by all of the terms and
conditions of the Sublease and the Master Lease through and including such early
termination date.

         IN WITNESS WHEREOF, the parties have cause this agreement to be
executed as a sealed instrument and delivered as of the day and year first above
written.

                                       11

<PAGE>

WITNESSES:                                 SUBLESSOR:

                                           ANSWERTHINK, INC., a Florida
/s/  JOSIE ESTEVEZ-LUGO                    corporation, successor in interest to
--------------------------------           ANSWER-THINK CONSULTING GROUP,
Print Name: Josie Estevez-Lugo             INC. a Florida corporation

                                           By:  /s/ FRANK A. ZOMERFELD
                                                --------------------------
/s/  SANDRA LEHTIO                         Name: Frank A. Zomerfeld
--------------------------------           Title: Secretary
Print Name: Sandra Lehtio
                                           SUBLESSEE:

                                           EYETECH PHARMACEUTICALS, INC.,
                                           a Delaware corporation

/s/ WILLIAM O'CONNOR
--------------------------------
Print Name: William O'Connor

                                           By: /s/ DAVID GUYER
                                               --------------------------
                                           Name: David Guyer
/s/ LONI DASILVA                           Title: CEO
--------------------------------
Print Name: Loni daSilva

                                       12

<PAGE>

                              AMENDMENT TO SUBLEASE

         This Amendment to Sublease Agreement (the "Amendment") is made as of
the 22 day of February, 2002, by and between ANSWERTHINK, INC., a Florida
corporation, successor in interest to ANSWERTHINK CONSULTING GROUP, INC., a
Florida corporation ("Sublessor"), and EYETECH PHARMACEUTICALS, INC., a Delaware
corporation ("Sublessee").

                                    RECITALS:

         A.       Sublessor and Sublessee are parties to a certain Sublease
Agreement (the "Sublease") dated of as December 19, 2001, with respect to the
Subleased Premises described therein.

         B.       Pursuant to Section 10 of the Sublease, the Sublease is
subject to the approval of the Master Landlord identified therein and Sublessor
and Sublessee wish to enter into this Amendment in order make certain revisions
requested by Master Landlord as a condition to its approval of the Sublease.

         NOW, THEREFORE, in consideration of the mutual covenants contained in
this Amendment, and intending to be legally bound, Sublessor and Sublessee agree
as follows:

         1.       Recitals. The foregoing Recitals are true and correct and are
hereby incorporated herein by reference.

         2.       Definitions. Capitalized terms not defined in this Amendment
shall have the meanings given to them in the Sublease. All references to the
Sublease shall mean and refer to the Sublease, as amended by this Amendment.

         3.       Amendments to Sublease. Sublessor and Sublessee hereby
acknowledge and agree that the Sublease is hereby amended in the manner and to
the extent described on the copy of the Sublease attached hereto as Exhibit "1"
and hereby made a part hereof, to which the amendments to the Sublease which
Sublessor and Sublessee have agreed to are indicated by underscore, with respect
to additions, and by strike-through, with respect to deletions.

         4.       Modification. Sublessor and Sublessee hereby acknowledge and
agree that, except as expressly amended by this Amendment, the Sublease remains
in full force and effect, and that neither Sublessor nor Sublessee are in
default of any of the terms or conditions thereof.

<PAGE>

         IN WITNESS WHEREOF, the parties have caused this Amendment to be
executed as a sealed instrument and delivered as of the day and year first above
written.

WITNESSES:                                 SUBLESSOR:

                                           ANSWERTHINK, INC., a Florida
/s/ JOSIE E.  LUGO                         corporation, successor in interest to
------------------                         ANSWERTHINK CONSULTING
Print Name: Josie E. Lugo                  GROUP, INC. a Florida corporation

/s/ COLLEEN HANSON                         By: /s/ FRANK A. ZOMERFELD
------------------                             -----------------------
Print Name: Colleen Hanson                 Name: Frank A. Zomerfeld
                                           Title: Secretary and Corporate
                                                  Counsel

                                           SUBLESSEE:

/s/ ELISA SPANEDDA                         EYETECH PHARMACEUTICALS,
------------------                         INC., a Delaware corporation
Print Name: Elisa Spanedda

                                           By: /s/ WILLIAM O'CONNOR
                                               --------------------
/s/ JENNIFER ROETTGER                      Name: William O'Connor
---------------------                      Title: V.P. Finance
Print Name: Jennifer Roettger

<PAGE>

          ************************************************************

                               AGREEMENT OF LEASE

                                     between

                   500-512 SEVENTH AVENUE LIMITED PARTNERSHIP

                                    Landlord,

                                       and

                       ANSWERTHINK CONSULTING GROUP, INC.

                                     Tenant,

                              Dated: April 13, 2000

                                    PREMISES:
                                    ---------

                     A portion of the seventeenth (17th) and
                    a portion of the eighteenth (18th) floors
                               500 Seventh Avenue
                               New York, New York

********************************************************************************

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

                                     EXHIBIT

                                       "A"

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

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                   PAGE
<S>                                                                                                <C>
ARTICLE 1
         RENT..................................................................................      1

ARTICLE 2
         PREPARATION OF THE DEMISED PREMISES...................................................      3

ARTICLE 3
         ADJUSTMENTS OF RENT...................................................................      5

ARTICLE 4
         ELECTRICITY...........................................................................     11

ARTICLE 5
         USE...................................................................................     14

ARTICLE 6
         ALTERATIONS AND INSTALLATIONS.........................................................     15

ARTICLE 7
         REPAIRS...............................................................................     20

ARTICLE 8
         REQUIREMENTS OF LAW...................................................................     22

ARTICLE 9
         INSURANCE, LOSS, REIMBURSEMENT, LIABILITY.............................................     23

ARTICLE 10
         DAMAGE BY FIRE OR OTHER CAUSE.........................................................     29

ARTICLE 11
         ASSIGNMENT, MORTGAGING, SUBLETTING, ETC...............................................     31

ARTICLE 12
         CERTIFICATE OF OCCUPANCY..............................................................     39
</TABLE>

<PAGE>

<TABLE>
<S>                                                                                          <C>
ARTICLE 13
         ADJACENT EXCAVATION -- SHORING...............................................       40

ARTICLE 14
         CONDEMNATION.................................................................       40

ARTICLE 15
         ACCESS TO DEMISED PREMISES; CHANGES..........................................       42

ARTICLE 16
         CONDITIONS OF LIMITATION.....................................................       43

ARTICLE 17
         RE-ENTRY BY LANDLORD, INJUNCTION.............................................       45

ARTICLE 18
         DAMAGES......................................................................       46

ARTICLE 19
         LANDLORD'S RIGHT TO PERFORM TENANT'S OBLIGATIONS.............................       48

ARTICLE 20
         QUIET ENJOYMENT..............................................................       49

ARTICLE 21
         SERVICES AND EQUIPMENT.......................................................       49

ARTICLE 22
         DEFINITIONS..................................................................       52

ARTICLE 23
         INVALIDITY OF ANY PROVISION..................................................       53

ARTICLE 24
         BROKERAGE....................................................................       53

ARTICLE 25
         SUBORDINATION................................................................       53

ARTICLE 26
         CERTIFICATE OF TENANT........................................................       55
</TABLE>

                                      -ii-

<PAGE>

<TABLE>
<S>                                                                                     <C>
ARTICLE 27
         LEGAL PROCEEDINGS WAIVER OF JURY TRIAL.................................        56

ARTICLE 28
         SURRENDER OF PREMISES..................................................        56

ARTICLE 29
         RULES AND REGULATIONS..................................................        57

ARTICLE 30
         CONSENTS AND APPROVALS.................................................        57

ARTICLE 31
         NOTICES................................................................        57

ARTICLE 32
         NO WAIVER..............................................................        58

ARTICLE 33
         CAPTIONS...............................................................        59

ARTICLE 34
         INABILITY TO PERFORM...................................................        59

ARTICLE 35
         NO REPRESENTATIONS BY LANDLORD.........................................        60

ARTICLE 36
         NAME OF BUILDING.......................................................        60

ARTICLE 37
         RESTRICTIONS UPON USE..................................................        60

ARTICLE 38
         ARBITRATION............................................................        61

ARTICLE 39
         INDEMNITY..............................................................        61

ARTICLE 40
         MEMORANDUM OF LEASE....................................................        61
</TABLE>

                                     -iii-

<PAGE>

<TABLE>
<S>                                                                                    <C>
ARTICLE 41
         MISCELLANEOUS..........................................................        62

ARTICLE 42
         SECURITY DEPOSIT.......................................................        63

ARTICLE 43
         PARTNERSHIP............................................................        65

ARTICLE 44
         SUBLEASE...............................................................        65

ARTICLE 45
         FAILURE TO GIVE POSSESSION.............................................        66

ARTICLE 46
         INTENTIONALLY OMITTED..................................................        68

ARTICLE 47
         FIRST OFFERING SPACE...................................................        68

ARTICLE 48
         EXTENSION OF TERM OPTION...............................................        76

ARTICLE 49
         INTENTIONALLY OMITTED..................................................        79

ARTICLE 50
         LAYOUT AND FINISH; TENANT WORK CREDIT..................................        79

ARTICLE 51
         TENANT'S AND LANDLORD'S REPRESENTATIONS................................        85

ARTICLE 52
         SATELLITE DISH INSTALLATION............................................        86
</TABLE>

                                      -iv-

<PAGE>

                  AGREEMENT OF LEASE made as of this 13th day of April, 2000,
between 500-512 SEVENTH AVENUE LIMITED PARTNERSHIP, a New York limited
partnership, with its office at c/o Newmark & Company Real Estate, Inc., 125
Park Avenue, New York, New York, 10017 (hereinafter referred to as "Landlord"),
and ANSWERTHINK CONSULTING GROUP, INC., a Florida corporation, with its office
at 1001 Brickell Bay Drive, Suite 3000, Miami, Florida 33131 (hereinafter
referred to as "Tenant").

                              W I T N E S S E T H:

                  Landlord hereby leases and Tenant hereby hires from Landlord,
in the building (hereinafter called the "Building") known as 500 Seventh Avenue,
New York, New York 10016, the following space: a portion of the seventeenth
(17th) floor and a portion of the eighteenth (18th) floor of the Building, as
shown hatched on the plans annexed hereto as Exhibit A (which space is
hereinafter referred to as "the demised premises"); for a term of approximately
fifteen (15) years, to commence on the date hereof (hereinafter referred to as
the "Commencement Date"), and to end on the last day of the month in which
occurs the fifteenth (15th) anniversary of the Rent Commencement Date (such date
on which the term of the Lease expires is hereinafter referred to as the
"Expiration Date") or on such date as such term shall sooner cease and terminate
as hereinafter provided. The Building is located on the land (herein called the
"Land") described on Exhibit B annexed hereto).

                  The parties hereto, for themselves, their heirs, distributees,
executors, administrators, legal representatives, trustees, successors and
assigns, hereby covenant as follows:

                                   ARTICLE 1

                                      RENT

                  1.01     Subject to the provisions of Section 45 of this
Lease, Tenant shall pay to Landlord a fixed annual rent (hereinafter referred to
as "fixed annual rent") at the annual rate of:

                           (a)      One Million Nine Hundred and Seventy-Two
Thousand One Hundred Sixty Dollars ($1,972,160.00) per annum (One Hundred
Sixty-Four Thousand Three Hundred Forty-Six and 67/100 Dollars ($164,346.67) per
month) during the period commencing on the Rent Commencement Date and ending on
the

                                       1
<PAGE>

last day of the month preceding the month in which occurs the fifth (5th)
anniversary of the Rent Commencement Date;

                           (b)      Two Million Seventy Thousand Seven Hundred
Sixty-Eight Dollars ($2,070,768.00) per annum (One Hundred Seventy-Two Thousand
Five Hundred Sixty-Four and 00/100 Dollars ($172,564.00) per month) during the
period commencing on the first day of the month in which occurs the fifth (5th)
anniversary of the Rent Commencement Date and ending on the last day of the
month preceding the month in which occurs the tenth (10th) anniversary of the
Rent Commencement Date; and

                           (c)      Two Million One Hundred Sixty-Nine Thousand
Three Hundred Seventy-Six Dollars ($2,169,376.00) per annum (One Hundred Eighty
Thousand Seven Hundred Eighty-One and 33/100 Dollars ($180,781.33) per month)
during the period commencing on the first day of the month in which occurs the
tenth (10th) anniversary of the Rent Commencement Date and ending on the
Expiration Date.

                  Tenant agrees to pay the fixed annual rent in lawful money of
the United States of America, in equal monthly installments in advance on the
first day of each calendar month during said term, at the office of Landlord or
such other place in the United States of America as Landlord may designate,
without any setoff or deduction whatsoever, except such deduction as may be
occasioned by the occurrence of any event permitting or requiring a deduction
from or abatement of rent as specifically set forth in Articles 10 and 14
hereof. Should the obligation to pay fixed annual rent commence on any day other
than on the first day of a month, then the fixed annual rent for such month
shall be prorated on a per diem basis.

                  The first month's installment of fixed annual rent due under
this Lease in the amount of One Hundred Sixty-Four Thousand Three Hundred
Forty-Six and 67/100 Dollars ($164,346.67) shall be paid by Tenant upon the
execution of this Lease.

                  If this Lease be a renewal of any existing lease any rent due
thereunder after the expiration of the term of such lease shall be deemed
additional rent under this Lease.

                  1.02     Tenant shall pay the fixed annual rent and additional
rent as above and as hereinafter provided, by good and sufficient check (subject
to collection) drawn on a bank having a banking office in New York City whose
checks will clear within three (3) days after deposit in Landlord's account. All
sums other than fixed annual rent payable by Tenant hereunder shall be deemed
additional rent (for default in the payment of which Landlord shall have the
same remedies as for a

                                       2

<PAGE>

default in the payment of fixed annual rent), and shall be payable on demand,
unless other payment dates are hereinafter provided.

                  1.03     If Tenant shall fail to pay when due any installment
of fixed annual rent or any payment of additional rent for a period of three (3)
days after such installment or payment shall have become due, Tenant shall pay
interest thereon at the Interest Rate (as such term is defined in Article 22
hereof), from the date when such installment or payment shall have become due to
the date of the payment thereof, and such interest shall be deemed additional
rent.

                  1.04     If any of the fixed annual rent or additional rent
payable under the terms and provisions of this Lease shall be or become
uncollectible, reduced or required to be refunded because of any Legal
Requirement (as such term is defined in Article 22 hereof), Tenant shall enter
into such agreement(s) and take such other steps (without additional expense to
Tenant) as Landlord may request and as may be legally permissible to permit
Landlord to collect the maximum rents which from time to time during the
continuance of such legal rent restriction may be legally permissible (and not
in excess of the amounts reserved therefor under this Lease). Upon the
termination of such legal rent restriction, (a) the rents shall become and
thereafter be payable in accordance with the amounts reserved herein for the
periods following such termination and (b) Tenant shall pay to Landlord, to the
maximum extent legally permissible, an amount equal to (i) the rents which would
have been paid pursuant to this Lease but for such legal rent restriction less
(ii) the rents paid by Tenant during the period such legal rent restriction was
in effect.

                  1.05     Notwithstanding any language to the contrary
contained herein, the fixed annual rent payable hereunder shall be abated during
the period (the "Abatement Period") commencing on the Commencement Date and
ending on October 31, 2000 (the date following the expiration of the Abatement
Period is herein called the "Rent Commencement Date").

                                   ARTICLE 2

                       PREPARATION OF THE DEMISED PREMISES

                  2.01     Tenant has examined the demised premises and agrees
to accept the same in their condition and state of repair existing as of the
date hereof subject to the representations and responsibilities of Landlord
under this Lease and to normal wear and tear and to the removal therefrom by
Landlord of the property of the existing tenant or occupant thereof, if any, and
understands and agrees that Landlord shall not be required to perform any work,
supply any materials or incur

                                       3

<PAGE>

any expense to prepare the demised premises for Tenant's occupancy, except that
Landlord, at Landlord's sole cost and expense, shall:

                           (a)      provide to Tenant at least six (6)
connection points to the Building's fire safety system (at least one (1)
connection point on every third (3rd) floor of the Building) to which it may
connect its Class E subsystem (consisting of smoke detectors and other life
safety and security devices) to comply with applicable laws including, without
limitation, New York City Local Law, provided, however, Tenant shall solely be
responsible for the cost of making such connections;

                           (b)      demolish all or portions of the demised
premises, including all of former tenant's wiring in the electrical closets
servicing the demised premises, other than core areas therein and in accordance
with Tenants's demolition plan prior to the commencement of performance of
Tenant's Work (as that term is hereinafter defined) provided that Landlord
approves such demolition plan which approval shall not be unreasonably withheld
or delayed and provided further that if Landlord fails to deliver its response
to such demolition plan within ten (10) Business Days of receipt thereof, then
such demolition plan shall be deemed approved by Landlord;

                           (c)      remove asbestos in the demised premises in
accordance with applicable legal requirements to facilitate Tenant's Work in and
to the demised premises, including any vinyl asbestos tile ("VAT"), and deliver
to Tenant an original ACP-5 or ACP-7, as applicable, in connection therewith;

                           (d)      remove all existing exterior windows in the
demised premises; and supply and install new Building Standard (as defined
herein) exterior windows throughout the demised premises by no later than
September 1, 2000;

                           (e)      deliver all existing radiators within the
demised premises in proper working order; and

                           (f)      deliver the demised premises with the
existing sprinkler loop in good working order.

For the purposes of this Section 2.01, "core areas" shall mean restrooms and the
distribution electrical panels.

                  2.02     If the Commencement Date is other than the specific
date hereinabove set forth then Tenant shall at Landlord's request, execute a
written agreement confirming the Commencement Date. Any failure of the parties
to execute such written agreement shall not affect the validity of the
Commencement Date as fixed and determined by Landlord as aforesaid.

                                       4

<PAGE>

                  2.03     (a)      Subject to Article 45 of this Lease,
Landlord shall use all reasonable efforts to complete Landlord's work described
in Sections 2.01(b) and (c) within forty-five (45) days of the Commencement
Date.

                           (b)      Landlord shall use reasonable efforts to
coordinate Landlord's work described in Sections 2.01 (a), (d), (e) and (f)
above to be completed in conjunction with Tenant's Work (as described in Article
50 of this Lease).

                           (c)      If Landlord shall not have substantially
completed (i) the items of Landlord's work listed in Sections 2.01(b) and (c)
hereof in the demised premises (except for the Occupied Space as provided for in
Article 45 herein) on the express date set forth in this Section 2.03(a) for the
completion of such items or (ii) the items of Landlord's work listed in Sections
2.01(a), (d) (e) and (f) hereof in the demised premises (except for the Occupied
Space as provided for in Article 45 herein) by the date on which Tenant's Work
has been substantially completed and Tenant is ready to occupy the demised
premises, then the fixed rent and additional rent payable for any portion of the
demised premises in which an item of Landlord's work is not substantially
completed in accordance with the criteria set forth above shall be abated until
the date such item of work is substantially completed. Notwithstanding any
language to the contrary contained in this Lease, the completion date specified
for any item of Landlord's Work shall be extended by one (1) day for each day
that Landlord is prevented from performing or completing such work by reason of
a Tenant Delay. A "Tenant Delay" shall mean: (a) delays in submitting the final
plan(s) with respect to Tenant's Work, or in approving any drawings or
specifications, giving authorizations or supplying information; (b) additional
time needed by Landlord, as a result of Tenant requesting Landlord to make a
change or addition to Landlord's work or change in the final plan(s); or (c)
delays in hiring a general contractor, engineer and/or architect in connection
with the work described in Article 50 hereof. The term "substantially completed"
shall mean the work is completed except for minor or insubstantial details of
construction, mechanical adjustment, decoration, or other punch-list items which
remain to be performed.

                                       5

<PAGE>

                                   ARTICLE 3

                               ADJUSTMENTS OF RENT

                  3.01     For the purposes of this Article 3, the following
definitions shall apply:

                           (a)      The term "Base Tax" shall mean the Taxes for
the Tax Year commencing July 1, 2000, and ending on June 30, 2001 by (ii) the
real property tax rate for such Tax Year.

                           (b)      The term "Tenant's Proportionate Share"
shall be deemed to mean eight. and fourteen hundredths percent (8.14%).

                           (c)      The term "Taxes" shall mean (i) all real
estate taxes, assessments, sewer rents and water charges, governmental levies,
municipal taxes, county taxes or any other governmental charge, general or
special, ordinary or extraordinary, unforeseen as well as foreseen, of any kind
or nature whatsoever, which are or may be assessed levied or imposed upon all or
any part of the Land, the Building and the sidewalks, plazas or streets in front
of or adjacent thereto, including any tax, excise or fee measured by or payable
with respect to any rent, and levied against Landlord and/or the Land and/or
Building, under the laws of the United States, the State of New York, or any
political subdivision thereof, or by the City of New York or any political
subdivision thereof and any charge imposed by any business improvement district,
and (ii) any expenses incurred by Landlord in contesting any of the foregoing
set forth in clause (i) of this sentence or the assessed valuations of all or
any part of the Land and Building, etc. or collecting any refund to the extent
such expenses are less than or equal to the savings for the Tax Year in which
such expenses are incurred. If, due to a future change in the method of taxation
or in the taxing authority, a new or additional real estate tax, or a franchise,
income, transit, profit or other tax or governmental imposition, however
designated, shall be levied against Landlord, and/or the Land and/or Building,
in addition to, or in substitution in whole or in part for any tax which would
constitute "Taxes", or in lieu of additional Taxes, such tax or imposition shall
be deemed for the purposes hereof to be included within the term "Taxes". Except
as set forth in the immediately preceding sentence, Taxes shall not include
sales, transfer, income, franchise, estate or inheritance taxes or any penalties
or interest imposed on Landlord in connection with late payment thereof.

                           (d)      The term "Tax Year" shall mean each period
of twelve (12) months, commencing on the first day of July of each such period,
in which occurs any part of the term of this Lease or such other period of
twelve months occurring during the term of this Lease as hereafter may be duly
adopted as the fiscal year for real estate tax purposes of the City of New York.

                           (e)      The term "Operating Year" shall mean the
calendar year 2000 and each succeeding calendar year thereafter.

                           (f)      The term "Wage Rate" with respect to any
Operating Year shall mean the regular average hourly wage rate required to be
paid to Porters in

                                       6

<PAGE>

Class A Office Buildings, without fringes, pursuant to any agreement between the
Realty Advisory Board on Labor Relations, Incorporated or any successor thereto
(hereinafter referred to as "R.A.B.") and Local 32B/32J of the Building Service
Employees International Union AFL-CIO, or any successor thereto (hereinafter
referred to as "Local 32B") in effect during such Operating Year, provided that
if any such agreement shall require Porters to be regularly employed on days or
during hours when overtime or other premium pay rates are in effect, then the
term "regular average hourly wage rate" shall mean the regular average hourly
wage rate for the hours in a calendar week which Porters are required to be
regularly employed (whether or not actually at work in the Building), e.g., if,
for example, as of January 1, 2000, an agreement between R.A.B. and Local 32B
would require the regular employment of Porters for 40 hours during a calendar
week at a regular average hourly wage of $4.00 for the first 30 hours and at an
overtime hourly average wage of $5.00 for the remaining 10 hours, then the
regular average hourly wage rate under this subsection, as of January 1, 2000,
would be the sum arrived at by dividing the total weekly average wages of
$170.00 by the total number of required hours of employment which is 40 and
resulting in a regular average hourly wage rate of $4.25. The computation of the
regular average hourly wage rate shall be on the same basis whether based on an
hourly or other pay scale but predicated on the number of hours in such
respective work weeks, whether paid by Landlord or any independent contractor.
If there is no such agreement in effect as of the date of any Escalation
Statement on which such regular average hourly wage rate is determinable, the
computations shall be made on the basis of the regular average hourly wage rate
being paid by Landlord or by the contractor performing porter or cleaning
services for Landlord as of the date of such Escalation Statement and
appropriate retroactive adjustments shall be made when the regular average
hourly wage rate paid as of such Escalation Statement is finally determined. If
length of service shall be a factor in determining any element of wages it shall
be conclusively presumed that all employees have at least three years of
service. The Wage Rate is intended to be an index in the nature of a cost of
living index, and is not intended to reflect the actual costs of wages or
expenses for the Building.

                           (g)      The term "Porters" shall mean that
classification of employee engaged in the general maintenance and operation of
Class A Office Buildings most nearly comparable to the classification now
applicable to porters in the current agreements between R.A.B. and Local 32B/32J
(which classification is presently termed "others" in said agreement).

                           (h)      The term "Class A Office Buildings" shall
mean office buildings in the same class or category as the Building under any
building operating agreement between R.A.B. and Local 32B/32J, regardless of the
designation given to such office buildings in any such agreement.

                                       7

<PAGE>

                           (i)      The term "Base Wage Rate" shall mean the
Wage Rate in effect on January 1, 2000.

                           (j)      The term "Escalation Statement" shall mean a
statement setting forth the amount payable by Tenant for a specified Tax Year or
Operating Year (as the case may be) pursuant to this Article 3. Upon Tenant's
request therefor, Landlord shall furnish to Tenant a copy of the tax bills and
other supporting evidence upon which an Escalation Statement was based.

                           (k)      The term "Wage Rate Multiple" shall mean
49,304.

                  3.02     If the Wage Rate for any Operating Year shall be
greater than the Base Wage Rate, then Tenant shall in the case of such an
increase pay to Landlord as additional rent for the demised premises for such
Operating Year an amount equal to the product obtained by multiplying one
hundred percent (100%) of the difference of the Wage Rate for such Operating
Year less the Base Wage Rate, by the Wage Rate Multiple.

                  3.03     (a)      Tenant shall pay as additional rent for each
Tax Year a sum (hereinafter referred to as "Tenant's Tax Payment") equal to
Tenant's Proportionate Share of the amount by which the Taxes for such Tax Year
exceed the Base Tax. Tenant's Tax Payment for each Tax Year shall be due and
payable in two (2) equal installments, in advance, (i.e., on the first day of
each June and December during each Tax Year) based upon the Escalation Statement
furnished prior to the commencement of such Tax Year, until such time as a new
Escalation Statement for a subsequent Tax Year shall become effective. If an
Escalation Statement is furnished to Tenant after the commencement of a Tax Year
in respect of which such Escalation Statement is rendered, Tenant shall, within
twenty (20) days thereafter, pay to Landlord an amount equal to the amount of
any underpayment of Tenant's Tax Payment with respect to such Tax Year and, in
the event of an overpayment, Landlord shall permit Tenant to credit against
subsequent payments under this Section 3.03 the amount of Tenant's overpayment,
or in the event this Lease has terminated, Landlord shall pay such overpayment
(if any) to Tenant within thirty (30) Business Days after the Escalation
Statement has been furnished, provided Tenant is not in default beyond any
applicable notice and cure periods. If there shall be any increase in Taxes for
any Tax Year, whether during or after such Tax Year, Landlord shall furnish a
revised Escalation Statement for such Tax Year, and Tenant's Tax Payment for
such Tax Year shall be adjusted and paid in the same manner as provided in the
preceding sentence. If during the term of this Lease, Taxes are required to be
paid (either to the appropriate taxing authorities or as tax escrow payments to
a superior mortgagee) in full or in monthly, quarterly, or other installments,
on any other date or dates than as presently required, then at Landlord's
option, Tenant's Tax Payments shall be correspondingly accelerated or

                                       8

<PAGE>

revised so that said Tenant's Tax Payments are due at least thirty (30) days
prior to the date payments are due to the taxing authorities or the superior
mortgagee. The benefit of any discount for any early payment or prepayment of
Taxes shall accrue to the benefit of Tenant and Landlord shall permit Tenant to
credit such discount against subsequent payments under this Section 3.03 (or if
there are no subsequent payments coming due under the Lease, Landlord shall pay
such amount to Tenant).

                           (b)      If the real estate tax fiscal year of The
City of New York shall be changed during the term of this Lease, any Taxes for
such fiscal year, a part of which is included within a particular Tax Year and a
part of which is not so included, shall be apportioned on the basis of the
number of days in such fiscal year included in the particular Tax Year for the
purpose of making the computations under this Section 3.03.

                           (c)      If Landlord shall receive a refund of Taxes
for any Tax Year, Landlord shall permit Tenant to credit against subsequent
payments under this Section 3.03 Tenant's Proportionate Share of the refund but
not to exceed Tenant's Tax Payment paid for such Tax Year, or in the event this
Lease has terminated, Landlord shall pay such refund (if any) to Tenant within
thirty (30) Business Days after Landlord receives such refund, provided Tenant
is not in default beyond any applicable notice and cure periods.

                           (d)      If the Base Tax is reduced as a result of a
certiorari proceeding or otherwise Landlord shall adjust the amounts previously
paid by Tenant pursuant to the provisions of this Section 3.03 and Tenant shall
pay the amount of said adjustment within thirty (30) days after demand setting
forth the amount of said adjustment.

                  3.04     Tenant shall pay to Landlord upon demand, as
additional rent, any occupancy tax or rent tax now in effect or hereafter
enacted with respect to this Lease or the demised premises, if payable by
Landlord in the first instance or hereafter required to be paid by Landlord.

                  3.05     Any such adjustment payable by reason of the
provisions of Section 3.02 shall commence as of the first day of the relevant
Operating Year and, after Landlord shall furnish Tenant with an Escalation
Statement relating to such Operating Year, all monthly installments of rental
shall reflect one-twelfth (1/12) of the annual amount of such adjustment until a
new adjustment becomes effective pursuant to the provisions of this Article 3,
provided, however, that if said Escalation Statement is furnished to Tenant
after the commencement of such Operating Year, there shall be promptly paid by
Tenant to Landlord, an amount equal to the portion of such adjustment allocable
to the part of such Operating Year which

                                       9

<PAGE>

shall have elapsed prior to the first day of the calendar month next succeeding
the calendar month in which said Escalation Statement is furnished to Tenant.

                  3.06     In the event that the Commencement Date shall be
other than the first day of a Tax Year or an Operating Year or the date of the
expiration or other termination of this Lease shall be a day other than the last
day of a Tax Year or an Operating Year, then, in such event, in applying the
provisions of this Article 3 with respect to any Tax Year or Operating Year in
which such event shall have occurred, appropriate adjustments shall be made to
reflect the occurrence of such event on a basis consistent with the principles
underlying the provisions of this Article 3 taking into consideration the
portion of such Tax Year or Operating Year which shall have elapsed after the
term hereof commences in the case of the Commencement Date, and prior to the
date of such expiration or termination in the case of the Expiration Date or
other termination.

                  3.07     Payments shall be made pursuant to this Article 3
notwithstanding the fact that an Escalation Statement is furnished to Tenant
after the expiration of the term of this Lease.

                  3.08     In no event shall the fixed annual rent ever be
reduced by operation of this Article 3 and the rights and obligations of
Landlord and Tenant under the provisions of this Article 3 with respect to any
additional rent shall survive the termination of this Lease.

                  3.09     Landlord's failure to render an Escalation Statement
with respect to any Tax Year or Operating Year, respectively, shall not
prejudice Landlord's right to thereafter render an Escalation Statement with
respect thereto or with respect to any subsequent Tax Year or Operating Year.
Such Escalation Statement shall be reasonably detailed in Landlord's sole
discretion and judgment. Tenant's obligation to pay escalation for any Tax or
Operating Year during the term of this Lease and Landlord's obligation to repay
any overpayment to Tenant in accordance with Section 3.10 below, if any, shall
survive the expiration or earlier termination of this Lease.

                  3.10     Each Escalation Statement shall be conclusive and
binding upon Tenant unless within sixty (60) days after receipt of such
Escalation Statement Tenant shall notify Landlord that it disputes the
correctness of such Escalation Statement, specifying the particular respects in
which such Escalation Statement is claimed to be incorrect. Any dispute relating
to any Escalation Statement not resolved within sixty (60) days after the giving
of such notice of dispute by Tenant may be submitted to arbitration by either
party pursuant to Article 38 hereof. Pending the determination of such dispute,
Tenant shall pay additional rent in accordance with the Escalation Statement
that Tenant is disputing, without

                                       10

<PAGE>

prejudice to Tenant's position. If the dispute shall be determined in Tenant's
favor, Landlord shall forthwith pay to Tenant the amount of Tenant's overpayment
of rents resulting from compliance with Landlord's Escalation Statement, and in
the event this Lease had terminated, Landlord shall pay such overpayment (if
any) to Tenant within thirty (30) Business Days after the determination of such
overpayment.

                  3.11     Notwithstanding any language to the contrary
contained in this Article 3, the additional rent payable by Tenant pursuant to
Section 3.02 hereof shall be abated until the first (1st) anniversary of the
Commencement Date.

                                   ARTICLE 4

                                   ELECTRICITY

                  4.01     Tenant agrees that Landlord shall furnish electricity
to Tenant on a "submetering" basis in accordance with the provisions of this
Article 4. Landlord shall, at Tenant's sole cost and expense, install one
totalizer for each floor of the demised premises and one demand submeter for
each disconnect switch in the demised premises prior to the date Tenant occupies
the demised premises for the regular conduct of its business therein.
Electricity and electric service, as used herein, shall mean any element
affecting the generation, transmission, and/or distribution or redistribution of
electricity, including, but not limited to, services which facilitate the
distribution of service.

                  4.02     Tenant covenants and agrees to purchase electricity
from Landlord or Landlord's designated agent at charges, terms and rates,
including, without limitation, fuel adjustments and taxes, equal to those
specified in the Con Edison SC#4-I rate schedule effective on the date Landlord
first provides electricity to the demised premises on a submetering basis (the
"effective" date), or any successor rate schedule or service classification,
plus ten percent (10%) for transmission line loss and other redistribution
costs. The term "Usage" shall mean Tenant's actual usage of electricity in the
demised premises as measured by the aforesaid meter(s) for each calendar month
or such other period as Landlord shall determine during the term of this Lease
and shall include the quantity and peak demand (kilowatt hours and kilowatts)
and all applicable taxes, surcharges, demand charges, energy charges, fuel
adjustment charges, and other adjustments made from time to time by the public
utility company supplying electric current to the Building or any governmental
authority having jurisdiction. Subject to the provisions of Section 4.01 above,
where more than one meter measures the amount of Usage, then the Usage
registered by each meter shall be aggregated and billed at the applicable rate
as if there were only one sub-meter measuring Tenant's aggregate

                                       11

<PAGE>

Usage in the entire demised premises. Bills therefore shall be rendered at such
times as Landlord may elect and the amount, as computed from a meter, shall be
deemed to be, and be paid as, Additional Charges. In the event that such amounts
are not paid within fifteen (15) days after the same are rendered, Landlord may,
without further notice, discontinue the service, of electric current to the
demised premises without releasing Tenant from any liability under this Lease
and without Landlord or Landlord's agent incurring any liability for any damage
or loss sustained by Tenant by such discontinuance of service. If any tax is
imposed upon Landlord's receipt from the sale or resale of electrical energy or
gas or telephone service to Tenant by any Federal, State or Municipal authority,
Tenant covenants and agrees that where permitted by law, Tenant's pro-rata share
of such taxes shall be passed on to and included in the amount of, and paid by,
Tenant to Landlord.

                  4.03     If all or part of the submetering additional rent
payable in accordance with this Article 4 becomes uncollectible or reduced or
refunded by virtue of any law, order or regulation, the parties agree that, at
Landlord's option, in lieu of submetering Additional Charges, and in
consideration of Tenant's use of the Building's electrical distribution system
and receipt of redistributed electricity and payment by Landlord of consultant's
fees and other redistribution costs, the fixed annual rent to be paid under this
Lease shall be increased by an "alternative charge" which shall be a sum equal
to $3.00 per year per rentable square foot of the demised premises, changed in
the same percentage as any increases in the cost to Landlord for electricity for
the entire Building subsequent to January 1, 2000 because of electric rate or
service classification or market price changes. In no event shall the fixed
annual rent under this Lease be reduced below the amount set forth in Section
1.01 hereof by virtue of this Section 4.03.

                  4.04     Landlord shall not be liable for any loss or damage
or expense which Tenant may sustain or incur if either the quantity or character
of electric service is changed or is no longer available or suitable for
Tenant's requirements, unless due to Landlord's willful misconduct. Tenant
covenants and agrees that at all times its use of electric current shall never
exceed the capacity of the electrical service furnished to the demised premises
pursuant to Section 4.05 herein. Any riser or risers to supply Tenant's
electrical requirements (in addition to the capacity stipulated in Section 4.05
herein), upon written request of Tenant, will be installed by Landlord, at the
sole cost and expense of Tenant, if, in Landlord's sole judgment, the same are
necessary and will not cause permanent damage or injury to the Building or
demised premises or cause or create a dangerous or hazardous condition or entail
excessive or unreasonable alterations, repairs or expenses or otherwise
interfere with or disturb other tenants or occupants of the Building. In
addition to the installation of such riser or risers, Landlord will also at the
sole cost and expense of Tenant, install all other equipment proper and
necessary in connection therewith subject to the aforesaid terms and conditions.
The parties acknowledge that they

                                       12

<PAGE>

understand that it is anticipated that electric rates, charges, etc., may be
changed by virtue of time-of-day rates or other methods of billing, electricity
purchases and the redistribution thereof, and that the references in the
foregoing paragraphs to changes in methods of or rules on billing are intended
to include any such changes. Anything hereinabove to the contrary
notwithstanding, in no event is the submetering additional rent or any
"alternative charge", to be less than an amount equal to the total of Landlord's
payment to public utilities and/or other providers for the electricity consumed
by Tenant (and any taxes thereon or on redistribution of same) plus ten percent
(10%) for transmission line loss and other redistribution costs. The Landlord
reserves the right to terminate the furnishing of electricity upon thirty (30)
days' written notice to Tenant (provided that Landlord is not adversely
discriminatory to Tenant with respect to exercising such right), in which event
the Tenant may make application direction to the public utility and/or other
providers for the Tenant's entire separate supply of electric current and
Landlord shall permit its wires and conduits, to the extent available and safely
capable, to be used for such purpose, but only to the extent of Tenant's then
authorized load. Any meters, risers, or other equipment or connections necessary
to furnish electricity on a submetering basis or to enable Tenant to obtain
electric current directly from such utility and/or other providers shall be
installed at Tenant's sole cost and expense. On rigid conduit or electrical
metal tubing (EMT) will be allowed. The Landlord, upon the expiration of the
aforesaid thirty (30) days' written notice to Tenant may discontinue furnishing
the electric current but this Lease shall otherwise remain in full force and
effect.

                  4.05     Tenant's use of electric energy in the demised
premises shall not at any time exceed the capacity furnished to or otherwise
serving the demised premises as provided in this Section 4.05. In order to
insure that such capacity is not exceeded and to avert possible adverse effect
upon the Building's distribution of electricity via the Building's electric
system, Tenant shall not, without Landlord's prior consent in each instance
(which consent shall not be unreasonably withheld or delayed), connect any
fixtures, appliances or equipment (other than lamps, normal business and small
office machines and personal computers, which do not materially increase
Tenant's electrical consumption) to the Building's electric system or make any
alterations or additions to the electric system of the demised premises existing
on the Commencement Date. Landlord shall make electrical energy available within
the demised premises at a level sufficient to accommodate a connected load of
eight (8) watts per rentable square foot of the demised premises; provided,
however, such electrical energy shall be terminated at disconnect switches
within electrical closets located within the demised premises and designated by
Landlord. Landlord shall also make additional electrical energy available at a
level sufficient for normal operations of the Units (as defined in Section 21.05
herein) to be installed by Tenant in the demised premises pursuant to Section
21.05 herein; provided such level of electricity does not exceed a demand load
of four (4) watts per rentable square foot

                                       13

<PAGE>

of the demised premises. In the event Tenant requires an additional demand load
of one (1) watt for the operation of the Units, Landlord shall provide such
additional electricity for an additional One Dollar ($1.00) per annum per
rentable square foot of the demised premises, as additional rent throughout the
term of this Lease.

                  4.06     At Landlord's option, Tenant shall purchase from
Landlord or Landlord's agent all lighting tubes, lamps, bulbs and ballasts used
in the demised premises and Tenant shall pay Landlord's commercially reasonable
charges for providing and installing same, on demand, as additional rent.

                  4.07     Tenant shall pay $1.50 per annum per rentable square
foot of the demised premises for electricity, as additional rent, during the
initial construction period until submeters are installed to measure the usage
of electricity in the demised premises, as hereinabove provided.

                                   ARTICLE 5

                                       USE

                  5.01     The demised premises shall be used solely as and for
general, executive and administrative offices and for no other purposes.

                  5.02     Tenant shall not use or permit the use of the demised
premises or any part thereof in any way which would violate any of the
covenants, agreements, terms, provisions and conditions of this Lease or for any
unlawful purposes or in any unlawful manner or in violation of the Certificate
of Occupancy for the demised premises or the Building, and Tenant shall not
suffer or permit the demised premises or any part thereof to be used in any
manner or anything to be done therein or anything to be brought into or kept
therein which, in the judgment of Landlord, shall in any way impair or tend to
impair the character, reputation or appearance of the Building as a high quality
office building, impair or interfere with or tend to impair or interfere with
any of the Building services or the proper and economic heating, cleaning, air
conditioning or other servicing of the Building or the demised premises, or
impair or interfere with or tend to impair or interfere with the use of any of
the other areas of the Building by, or occasion discomfort, inconvenience or
annoyance to, any of the other tenants or occupants of the Building. Tenant
shall not install any electrical or other equipment of any kind which, in the
reasonable judgment of Landlord, might cause any such impairment, interference,
discomfort, inconvenience or annoyance.

                                       14

<PAGE>

                  5.03     Portions of the demised premises may be used for one
or more pantry areas for reheating, but not for cooking, of food and beverages
and for vending machines for Tenant's officers and directors, employees and
staff, subject to the provisions of Article 6 below. Tenant shall be
responsible, at Tenant's sole cost and expense, for maintaining Tenant's
pantries at all times in a clean and sanitary condition and free of rodents and
other vermin and for the removal of refuse and garbage therefrom on a daily
basis, using contractors therefor designated by Landlord.

                                   ARTICLE 6

                          ALTERATIONS AND INSTALLATIONS

                  6.01     Tenant shall make no alterations, installations,
additions or improvements in or to the demised premises without Landlord's prior
written consent and then only by contractors or mechanics first approved by
Landlord (of any five (5) proposed by Tenant, Landlord may reject two (2)
without cause and the approval for the remaining contractors or mechanics shall
not be unreasonably withheld or delayed). Notwithstanding anything to the
contrary contained herein, Landlord's prior written consent shall not be
required for purely decorative work (e.g., painting and carpeting) and other any
non-structural alterations not affecting Building systems and costing, in the
aggregate, less than Fifty Thousand Dollars ($50,000) over any twelve (12) month
period ("Ordinary Alterations"); provided that Tenant shall have delivered
reasonably detailed plans and specifications for the Ordinary Alterations to
Landlord at least ten (10) Business Days prior to the commencement of any work
in connection therewith. All such work, alterations, installations, additions
and improvements shall be done at Tenant's sole expense and at such times and in
such manner as Landlord may from time to time designate. Prior to commencement
of such work, Tenant shall obtain and deliver to Landlord written, unconditional
waivers of mechanic's or other liens on the real property in which the demised
premises are located, signed by all architects, engineers, contractors,
mechanics and designers to become involved in such work. In connection with any
alterations costing in excess of $100,000 (excluding Tenant's Work and Credit
Work, as hereinafter defined, provided Tenant shall use bondable contractors and
subcontractors in connection with the performance of same), Tenant shall also
provide at Landlord's request such financial security as Landlord shall require
to guarantee completion of work performed by Tenant pursuant to this Article 6
and payment of all contractors and suppliers utilized in connection therewith.

                  Any installations, materials and work which may be undertaken
by or for the account of Tenant, other than Ordinary Alterations, shall be
effected solely in

                                       15

<PAGE>

accordance with plans and specifications first approved in writing by Landlord.
Tenant shall reimburse Landlord promptly upon demand for any reasonable
out-of-pocket costs and expenses incurred by Landlord in connection with
Landlord's review of such Tenant's plans and specifications. Landlord agrees
that it shall respond to Tenant's request for approval of such plans and
specifications within fifteen (15) Business Days after Tenant's submission
thereof, and within ten (10) Business Days after the submission of any
subsequent revisions thereof, and in the event Landlord disapproves of such
final plan, Landlord shall set forth its objections in reasonable detail (which
may include by marking up the drawing(s)). Landlord will not unreasonably
withhold or delay its consent to requests for nonstructural alterations,
additions and improvements provided they will not affect the outside of the
Building or any area outside the demised premises or adversely affect its
structure, electrical, HVAC, plumbing or mechanical systems.

                  Any such approved alterations and improvements shall be
performed in accordance with the foregoing and the following provisions of this
Article 6:

                           (i)      All work shall be done in a good and
                                    workmanlike manner.

                           (ii)     In the event Tenant shall employ any
                                    contractor to do in the demised premises any
                                    work permitted by this Lease, such
                                    contractor and any subcontractor shall agree
                                    to employ only such labor as will not result
                                    in jurisdictional disputes or strikes or
                                    result in causing disharmony with other
                                    workers employed at the Building.

                           (iii)    All such alterations shall be effected in
                                    compliance with all applicable laws,
                                    ordinances, rules and regulations of
                                    governmental bodies having or asserting
                                    jurisdiction in the demised premises and in
                                    accordance with Landlord's Rules and
                                    Regulations with respect to alterations.
                                    Landlord's Alteration Rules and Regulations
                                    are set forth in Exhibit F attached hereto
                                    and made a part hereof.

                           (iv)     Tenant shall keep the Building and the
                                    demised premises free and clear of all liens
                                    for any work or material claimed to have
                                    been furnished to Tenant or to the demised
                                    premises on Tenant's behalf, and all work to
                                    be performed by Tenant shall be done in a
                                    manner which will not unreasonably interfere
                                    with or disturb other tenants or occupants
                                    of the Building.

                                       16

<PAGE>

                           (v)      During the progress of the work to be done
                                    by Tenant, said work shall be subject to
                                    inspection by representatives of Landlord
                                    who shall be permitted access to the demised
                                    premises and the opportunity to inspect, at
                                    all reasonable times on reasonable notice
                                    (which may be oral and except in
                                    emergencies), but this provision shall not
                                    in any way whatsoever create any obligation
                                    on Landlord to conduct such an inspection.

                           (vi)     With respect to alteration or improvement
                                    work costing more than Five Thousand Dollars
                                    ($5,000) other than Tenant's Work (as
                                    defined in Section 50.03) and Ordinary
                                    Alterations, Tenant agrees to pay to
                                    Landlord's managing agent, as additional
                                    rent, promptly upon being billed therefor, a
                                    sum equal to seven percent (7%) of the cost
                                    of such work or alteration, for Landlord's
                                    indirect costs, field supervision and
                                    coordination in connection with such work.

                           (vii)    Prior to commencement of any work, Tenant
                                    shall furnish to Landlord certificates
                                    evidencing the existence of:

                                    (1)     workmen's compensation insurance
                                            covering all persons employed for
                                            such work; and

                                    (2)     reasonable comprehensive general
                                            liability and property damage
                                            insurance naming Landlord, its
                                            designees and Tenant as insureds,
                                            with coverage of at least Three
                                            Million Dollars ($3,000,000) single
                                            limit.

                           (viii)   Before commencing any work costing in excess
                                    of One Hundred Thousand Dollars
                                    ($100,000.00), Tenant shall furnish to
                                    Landlord such bonds for payment and
                                    completion or such other security for
                                    completion thereof and payment therefor as
                                    Landlord shall reasonably require and in
                                    such form as is reasonably satisfactory to
                                    Landlord and in an amount which will be one
                                    hundred twenty percent (120%) of Landlord's
                                    estimate of the cost of performing such work
                                    as specified by Tenant's general contractor
                                    in its contract with Tenant for the
                                    performance of such work.

                                       17

<PAGE>

                           (ix)     Any work affecting any mechanical systems of
                                    the Building, including, without limitation,
                                    the electrical, plumbing and life safety
                                    systems, shall be performed at Tenant's
                                    expense by a contractor designated by
                                    Landlord, provided charges of such
                                    contractors shall be commercially
                                    reasonable.

Notice is hereby given that Landlord shall not be liable for any labor or
materials furnished or to be furnished to Tenant upon credit, and that no
mechanic's or other lien for any such labor or materials shall attach to or
affect the reversion or other estate or interest of Landlord in and to the
demised premises.

                  6.02     Any mechanic's lien, filed against the demised
premises or the Building for work claimed to have been done for, or materials
claimed to have been furnished to, Tenant shall be discharged by Tenant at its
expense within thirty (30) days after such filing, by payment, filing of the
bond required by law or otherwise.

                  6.03     All alterations, installations, additions and
improvements made and installed by Landlord, including without limitation any
work referred to in Article 2 hereof shall be the property of Landlord and shall
remain upon and be surrendered with the demised premises as a part thereof at
the end of the term of this Lease, and Tenant shall not be responsible to remove
the same.

                  6.04     All alterations, installations, additions and
improvements made and installed by Tenant, or at Tenant's expense, upon or in
the demised premises which are of a permanent nature and which cannot be removed
without damage to the demised premises or Building shall become and be the
property of Landlord, and shall remain upon and be surrendered with the demised
premises as a part thereof at the end of the term of this Lease, except as
otherwise agreed at the time of Landlord's approval. For the purposes of this
Section 6.04, a "Nonstandard Alteration" shall mean auditoriums or similar type
special use areas, vaults, atriums, kitchen equipment and installations,
internal stairways, slab reinforcements, raised floors or other alterations
which impede the installation of duct work or other normal installations above
the finished ceiling or which are not suitable for normal office occupancy or
which would be unusually difficult or costly to remove in comparison to usual
alterations required for general office purposes. Provided that Landlord shall
have advised Tenant at the time it consented to any such Nonstandard Alteration
that Landlord may require its removal at the end of the Lease term (if and to
the extent that Tenant shall have requested in writing such advice from Landlord
when it requested Landlord's consent to such alteration), Landlord shall have
the right and privilege to serve at any time up to six (6) months prior to the
expiration of the term of this Lease, a notice upon Tenant that any "Nonstandard
Alterations" shall be removed and, in the event of service of such notice,
Tenant will, at Tenant's cost

                                       18

<PAGE>

and expense, remove the same in accordance with such request and repair any
damage to the demised premises caused by such removal. Except as otherwise
designated by Landlord at the time of Landlord's approval as hereinabove
provided, Tenant shall not be required to remove any alterations or improvements
made by Tenant to the demised premises.

                  6.05     Where furnished by or at the expense of Tenant all
furniture, furnishings and trade fixtures, including without limitation, murals,
business machines and equipment, counters, screens, grille work, special
panelled doors, cages, movable partitions, metal railings, movable closets,
panelling, lighting fixtures and equipment, drinking fountains, refrigeration
and air handling equipment, and any other movable property shall remain the
property of Tenant which may, at its option, remove all or any part thereof at
any time prior to the expiration of the term of this Lease. In case Tenant shall
decide not to remove any part of such property, Tenant shall notify Landlord in
writing not less than three (3) months prior to the expiration of the term of
this Lease, specifying the items of property which it has decided not to remove.
If, within thirty (30) days after the service of such notice, Landlord shall
request Tenant to remove any of the said property, Tenant shall, at its expense,
remove the same and either repair any damage caused by such removal, and, with
respect to any slab penetrations, restore the affected portion of the demised
premises to its original condition. As to such property which Landlord does not
request Tenant to remove, the same shall be, if left by Tenant, deemed abandoned
by Tenant and thereupon the same shall become the property of Landlord.

If any alterations, installations, additions, improvements or other property
which Tenant shall have the right to remove or be requested by Landlord to
remove as provided in Sections 6.04 and 6.05 hereof (herein in this Section 6.06
called the "property") are not removed on or prior to the expiration of the term
of this Lease, Landlord shall have the right to remove the property and to
dispose of the same without accountability to Tenant and at the sole cost and
expense of Tenant. In case of any damage to the demised premises or the Building
resulting from the removal of the property Tenant shall repair such damage or,
in default thereof, shall reimburse Landlord for Landlord's cost in repairing
such damage. This obligation shall survive any termination of this Lease.

                  6.06     Tenant shall keep records of Tenant's alterations,
installations, additions and improvements costing in excess of Five Thousand
Dollars ($5,000), and of the cost thereof. Tenant shall, within thirty (30) days
after demand by Landlord, furnish to Landlord copies of such records and cost if
Landlord shall require same in connection with any proceeding to reduce the
assessed valuation of the Building, or in connection with any proceeding
instituted pursuant to Article 16 hereof.

                                       19

<PAGE>

                                   ARTICLE 7

                                   REPAIRS

                  7.01     Tenant shall take good care of the demised premises
and the fixtures, equipment and appurtenances therein and shall, at its sole
cost and expense, make such repairs (except as provided in this Lease and except
to the extent such repairs are necessitated by Landlord's negligence) to the
demised premises and the fixtures, equipment and appurtenances therein as are
necessitated by the (i) act, omission, occupancy or negligence of Tenant or
Tenant's employees, contractors, invitees, licensees or other occupants of the
demised premises or (ii) use of the demised premises in a manner contrary to the
purposes for which same are leased to Tenant, as and when needed to preserve
them in good working order and condition. Notwithstanding the foregoing, subject
to the provisions of Section 9.08 hereof, Tenant shall be responsible for all
damage or injury to the Building, or to its fixtures, equipment and
appurtenances, whether requiring structural or non-structural repairs, to the
extent caused by or resulting from the act, omission, occupancy or negligence of
Tenant or Tenant's employees, contractors, invitees, licensees or other
occupants of the demised premises, shall be repaired promptly by Tenant (or by
Landlord, if a structural repair), at Tenant's sole cost and expense. Except as
otherwise provided in Section 9.05 hereof, all damage or injury to the demised
premises and to its fixtures, appurtenances and equipment or to the Building or
to its fixtures, appurtenances and equipment to the extent caused by Tenant
moving property into or out of the Building or by installation or removal of
furniture, fixtures or other property, shall be repaired, restored or replaced
promptly by Tenant at its sole cost and expense, which repairs, restorations and
replacements shall be in quality and class equal to the original work or
installations. If Tenant fails to make such repairs, restoration or
replacements, the same may be made by Landlord at the expense of Tenant and such
expense shall be collectible as additional rent and shall be paid by Tenant
within fifteen (15) days after rendition of a bill therefor.

                  The exterior walls of the Building, the portions of any window
sills outside the windows, the windows, the fire stairs, utility closets and any
shafts passing through the floor on which the demised premises are located are
not part of the premises demised by this Lease, and Landlord reserves all rights
to such parts of the Building.

                  7.02     Tenant shall not place a load upon any floor of the
demised premises exceeding the floor load per square foot area which such floor
was designed to carry as indicated on the certificate of occupancy for the
Building and which is allowed by law.

                                       20

<PAGE>

                  7.03     Business machines and mechanical equipment used by
Tenant which cause vibration, noise, cold or heat that may be transmitted to the
Building structure or to any leased space to such a degree as to be
objectionable to Landlord or to any other tenant in the Building shall be placed
and maintained by Tenant at its expense in settings of cork, rubber or spring
type vibration eliminators sufficient to absorb and prevent such vibration or
noise, or prevent transmission of such cold or heat. The parties hereto
recognize that the operation of elevators, air conditioning and heating
equipment will cause some vibration, noise, heat or cold which may be
transmitted to other parts of the Building and demised premises. Landlord shall
be under no obligation to endeavor to reduce such vibration, noise, heat or
cold.

                  7.04     Except as otherwise specifically provided in this
Lease, there shall be no allowance to Tenant for a diminution of rental value
and no liability on the part of Landlord by reason of inconvenience, annoyance
or injury to business arising from the making of any repairs, alterations,
additions or improvements in or to any portion of the Building or the demised
premises or in or to fixtures, appurtenances or equipment thereof.

                  7.05     Landlord, at its expense, shall keep and maintain the
Building and its systems and facilities serving the demised premises, in good
working order, condition and repair and shall make all repairs, structural and
otherwise, interior and exterior, as and when needed in or about the Building or
the demised premises, except for those repairs for which Tenant is responsible
pursuant to any other provisions of this Lease.

                  7.06     Notwithstanding any contrary provision contained in
this Lease, in the event that a portion of or the entire demised premises is
rendered untenantable due to an Abatement Event (as such term is hereinafter
defined) for a period of at least seven (7) consecutive days, then, provided
Tenant actually vacates (as to personnel and conduct of business) the demised
premises or a portion thereof so affected during such period of untenantability,
the fixed rent payable hereunder shall abate in proportion to the portion that
is rendered untenantable for the remainder of such period of untenantability.
Tenant shall provide written notice (hereinafter called the "Abatement Event
Notice") of the Abatement Event on or before the second (2nd) Business Day
following the day on which the Abatement Event commences, and in the event that
Tenant shall fail to give the Abatement Event Notice on or before such second
(2nd) Business Day, the seven (7) day period referred to in the immediately
preceding sentence shall be extended by one (1) day for each day following such
second (2nd) Business Day until Tenant gives the Abatement Event Notice. As used
herein, the term "Abatement Event" shall mean one or more of the following
events or circumstances: a failure of Building services as provided for in
Article 21 of this Lease, the interruption of utilities or unreasonable
interference with Tenant's business caused by the making of the

                                       21

<PAGE>

repairs in accordance with this Article 7, provided that Tenant shall not have
necessitated such repairs.

                                    ARTICLE 8

                               REQUIREMENTS OF LAW

                  8.01     Tenant, at Tenant's sole cost and expense, shall
comply with all laws, orders and regulations of federal, state, county and
municipal authorities, and with any direction of any public officer or officers,
pursuant to law, which shall impose any violation, order or duty upon Landlord
or Tenant with respect to the demised premises, or the use or occupation
thereof; provided, however, that it shall be Landlord's obligation to cure any
violation of law with respect to the demised premises existing prior to the
Commencement Date. Notwithstanding the foregoing, Tenant shall not be required
to make any structural alterations in the demised premises to comply with laws
unless the necessity for same shall arise from Tenant's manner of use of the
demised premises or the operation of its installations, equipment or other
property in the demised premises, any cause or condition created by or at the
instance of Tenant or any breach of Tenant's obligations under this Lease.

                  8.02     Notwithstanding the provisions of Section 8.01
hereof, Tenant, at its own cost and expense, may contest, in any manner
permitted by law (including appeals to a court, or governmental department or
authority having jurisdiction in the matter), the validity or the enforcement of
any governmental act, regulation or directive with which Tenant is required to
comply pursuant to this Lease, and may defer compliance therewith provided that:

                           (a)      such non-compliance shall not subject
Landlord to criminal prosecution or subject the Land and/or Building to lien or
sale;

                           (b)      such non-compliance shall not be in
violation of any fee mortgage, or of any ground or underlying lease or any
mortgage thereon;

                           (c)      Tenant shall first deliver to Landlord a
surety bond issued by a surety company of recognized responsibility, or other
security satisfactory to Landlord, indemnifying and protecting Landlord against
any loss or injury by reason of such non-compliance; and

                           (d)      Tenant shall promptly and diligently
prosecute such contest.

                                       22

<PAGE>

                  Landlord, without expense or liability to it, shall cooperate
with Tenant and execute any documents or pleadings required for such purpose,
provided that Landlord shall reasonably be satisfied that the facts set forth in
any such documents or pleadings are accurate.

                                   ARTICLE 9

                    INSURANCE, LOSS, REIMBURSEMENT, LIABILITY

                  9.01     Tenant shall not cause, do, or permit to be done any
act or thing upon the demised premises, which will invalidate or be in conflict
with New York standard fire insurance policies covering the Building, and
fixtures and property therein, or which would increase the rate of fire
insurance applicable to the Building to an amount higher than it otherwise would
be; and Tenant shall neither do nor permit to be done any act or thing upon the
demised premises which shall or might subject Landlord to any liability or
responsibility for injury to any person or persons or to property by reason of
any business or operation being carried on within the demised premises; but
nothing in this Section 9.01 shall prevent Tenant's use of the demised premises
for the purposes stated in Article 5 hereof.

                  9.02     If, as a result of any act or omission by Tenant or
violation of this Lease, the rate of fire insurance applicable to the Building
shall be increased to an amount higher than it otherwise would be, Tenant shall
reimburse Landlord for all increases of Landlord's fire insurance premiums so
caused; such reimbursement to be additional rent payable upon the first day of
the month following any outlay by Landlord for such increased fire insurance
premiums. In any action or proceeding wherein Landlord and Tenant are parties, a
schedule or "make-up" of rates for the Building or demised premises issued by
the body making fire insurance rates for the demised premises, shall be
presumptive evidence of the facts therein stated and of the several items and
charges in the fire insurance rate then applicable to the demised premises.

                  9.03     Landlord or its agents shall not be liable for any
injury or damage to persons or property resulting from fire, explosion, falling
plaster, steam, gas, electricity, water, rain or snow or leaks from any part of
the Building, or from the pipes, appliances or plumbing works or from the roof,
street or subsurface or from any other place or by dampness or by any other
cause of whatsoever nature, unless any of the foregoing shall be caused by or
due to the negligence of Landlord, its agents, servants or employees.

                                       23

<PAGE>

                  9.04     Landlord or its agents shall not be liable for any
damage which Tenant may sustain, if at any time any window of the demised
premises is broken, or temporarily or permanently (restricted to windows on a
lot line, if permanently) closed, darkened or bricked up for any reason
whatsoever, except only Landlord's arbitrary acts if the result is permanent,
and Tenant shall not be entitled to any compensation therefor or abatement of
rent or to any release from any of Tenant's obligations under this Lease, nor
shall the same constitute an eviction.

                  9.05     Subject to Section 9.08 herein, Tenant shall
reimburse Landlord for all expenses, damages or fines incurred or suffered by
Landlord, to the extent caused by any breach, violation or non-performance by
Tenant, or its agents, servants or employees, of any covenant or provision of
this Lease, or by reason of damage to persons or property caused by moving
property of or for Tenant in or out of the Building, or by the installation or
removal of furniture or other property of or for Tenant except as provided in
Section 6.05 of this Lease, or by reason of or arising out of the carelessness,
negligence or improper conduct of Tenant, or its agents, servants or employees,
in the use or occupancy of the demised premises. Subject to the provisions of
Section 8.02 hereof, where applicable, Tenant shall have the right, at Tenant's
own cost and expense, to participate in the defense of any action or proceeding
brought against Landlord, and in negotiations for settlement thereof if,
pursuant to this Section 9.05, Tenant would be obligated to reimburse Landlord
for expenses, damages or fines incurred or suffered by Landlord.

                  9.06     Tenant shall give Landlord notice in case of fire or
accidents in the demised premises promptly after Tenant is aware of such event.

                  9.07     Tenant agrees to look solely to Landlord's estate and
interest in the Land and Building, or the lease of the Building, or of the Land
and Building, and the demised premises, for the satisfaction of any right or
remedy of Tenant for the collection of a judgment (or other judicial process)
requiring the payment of money by Landlord, in the event of any liability by
Landlord, and no other property or assets of Landlord (or the partners or
members thereof if Landlord is other than an individual or corporation) shall be
subject to levy, execution, attachment, or other enforcement procedure for the
satisfaction of Tenant's remedies under or with respect to this Lease, the
relationship of Landlord and Tenant hereunder, or Tenant's use and occupancy of
the demised premises, or any other liability of Landlord to Tenant.

                  9.08     (a)      Landlord agrees that it will include in its
fire insurance policies appropriate clauses pursuant to which the insurance
companies (i) waive all right of subrogation against Tenant with respect to
losses payable under such policies and/or (ii) agree that such policies shall
not be invalidated should the insured waive in writing prior to a loss any or
all right of recovery against any party for

                                       24

<PAGE>

losses covered by such policies. But should any additional premiums be generally
imposed for any such clause or clauses, Landlord shall be released from the
obligation hereby imposed unless Tenant shall agree to pay such additional
premium.

                           (b)      Tenant agrees to include in its fire
insurance policy or policies on its furniture, furnishings, fixtures and other
property removable by Tenant under the provisions of this Lease appropriate
clauses pursuant to which the insurance company or companies (i) waive the right
of subrogation against Landlord and any tenant of space in the Building with
respect to losses payable under such policy or policies and/or (ii) agree that
such policy or policies shall not be invalidated should the insured waive in
writing prior to a loss any or all right of recovery against any party for
losses covered by such policy or policies. But should any additional premium be
generally imposed for any such clause or clauses, Tenant shall be released from
the obligation hereby imposed unless Landlord or the other tenants shall agree
to pay such additional premium.

                           (c)      Subject to obtaining the waiver of
subrogation provided in Section 9.08 (a) hereof, Landlord hereby waives any and
all right of recovery which it might otherwise have against Tenant, its
servants, agents and employees, for loss or damage occurring to the Building and
the fixtures, appurtenances and equipment therein, to the extent the same is
covered by Landlord's insurance, notwithstanding that such loss or damage may
result from the negligence or fault of Tenant, its servants, agents or
employees. Subject to obtaining the waiver of subrogation provided in Section
9.08 (b) hereof, Tenant hereby waives any and all right of recovery which it
might otherwise have against Landlord, its servants, agents and employees, and
against every other tenant in the Building who shall have executed a similar
waiver as set forth in this Section 9.08(c) for loss or damage to, Tenant's
furniture, furnishings, fixtures and other property removable by Tenant under
the provisions hereof to the extent that same is covered by Tenant's insurance,
notwithstanding that such loss or damage may result from the negligence or fault
of Landlord, its servants, agents or employees, or such other tenant and the
servants, agents or employees thereof.

                           (d)      Landlord and Tenant hereby agree to advise
the other promptly if the clauses to be included in their respective insurance
policies pursuant to subdivisions 9.08 (a) and (b) hereof cannot be obtained.
Landlord and Tenant hereby also agree to notify the other promptly of any
cancellation or change of the terms of any such policy which would affect such
clauses.

                  9.09     Tenant covenants and agrees to provide on or before
the Commencement Date and to keep in force during the term hereof for the
benefit of Landlord and Tenant the following insurance policy naming Landlord,
Landlord's managing agent, lessors under superior leases and the holders of any
mortgages

                                       25

<PAGE>

affecting the Land and/or Building as additional insureds. Tenant covenants to
provide on or before the commencement of the term of this Lease:

LIABILITY INSURANCE: Tenant shall procure and at all times during the term of
this Lease shall maintain policies of commercial general and umbrella liability
insurance covering the demised premises on an occurrence basis and shall not
contain any deductibles or self-insured retentions. The policy shall provide
that general and specific aggregates are per location covered and shall further
provide minimum limits, as follows:

                  COMMERCIAL GENERAL LIABILITY:

                  $1,000,000 per occurrence; combined single limit bodily
                  injury and property damage

                  $5,000 medical payments coverage

                  $50,000 fire legal liability coverage

                  $2,000,000 general aggregate

                  $1,000,000 per occurrence
                  $2,000,000 annual aggregate; personal injury coverage

                  $1,000,000 per occurrence
                  $2,000,000 annual aggregate; products/completed operations
                  coverage

                  UMBRELLA LIABILITY:

                  $10,000,000 per occurrence

                  $10,000,000 general and specific aggregates

Policy shall cover excess of general and automobile liability and shall include
said policies as underlying and provisions of the umbrella shall apply in the
same manner as the primary policies.

WORKERS' COMPENSATION

Tenant shall procure and at all times during the term of this Lease shall
maintain a policy of statutory worker's compensation insurance covering Tenant's
employees with employer's liability coverage in accordance with statutory
limits.

                                       26

<PAGE>

UMBRELLA LIABILITY

Umbrella liability shall cover in the same manner as the primary commercial
general liability policy above and shall contain no additional exclusions or
limitations than those of the general liability policy.

PROPERTY INSURANCE

Tenant shall procure and at all times during the term of this Lease shall
maintain a policy of all risk property insurance in an amount adequate to cover
the cost of replacement of all Tenant's decorations, improvements, fixtures,
furniture, stock and other contents; time element coverage including extra
expense to cover Tenant's loss as a result of a loss sustained by a peril
covered under the policy.

GENERAL

Commercial general liability and any umbrella policy will provide coverage for
and on behalf of the Landlord and its designees pursuant to the provisions of
this Lease as additional insured and will reflect that sixty (60) days prior
written notice of cancellation, modification or non-renewal be provided to
Landlord at the address so designated by Landlord.

Policy will provide that Tenant pays all premium under the policy. Landlord or
its agents shall not be responsible for the payment of any premiums for such
insurance.

Tenant will provide a binder of insurances to Landlord prior to occupancy of the
demised premises followed by a copy of the policies and a minimum of twenty (20)
days in advance for each renewal or replacement policy. If the policy contains
more than one location, Tenant may provide a certificate of insurance reflecting
and confirming that the insurance is provided in accordance with the insurance
provisions of this Lease and shall also include thereon a copy of all
endorsements specifically applicable to Landlord and the demised premises.

The minimum limits of insurance coverage required by the insurance provisions of
this Lease shall be subject to increase by Landlord from time to time, after the
Commencement Date if Landlord, in its reasonable judgment, shall deem the same
necessary for adequate protection. Within thirty (30) days of demand for such
increased coverage, Tenant shall deliver to Landlord evidence of such increased
coverage in the form of an endorsement or replacement insurance policy or
certificate and in keeping with all other insurance provisions contained herein.
In the event of Tenant's failure to procure or maintain the coverages required
hereunder in accordance with the insurance provisions contained herein, Landlord
may, but is not obligated to, procure said insurance at the cost and expense of
Tenant to be deemed

                                       27

<PAGE>

additional rent hereunder, payable on demand. The minimum limits of insurance
coverage required by the insurance provisions of this Lease shall in no way
limit or diminish Tenant's liability.

Insurance companies must be satisfactory to Landlord as to an acceptable
Standard & Poor's or A.M. Best Rating with a minimum A. M. Best Rating of A +
VIII.

In the event of Tenant's failure to procure or maintain the coverages required
hereunder in accordance with the insurance provisions contained herein, Landlord
may, but is not obligated to, procure said insurance at the cost and expense of
Tenant to be deemed additional rent hereunder, payable on demand.

Tenant will not do or permit anything to be done (other than Tenant's permitted
use of the demised premises as set forth in Section 5.01 herein) in or upon the
demised premises or the Building or bring or keep anything therein which shall
in any way increase the rates of all risk property or other insurance in respect
of the Building or on the property kept therein.

Prior to the time such insurance is first required to be carried by Tenant and
thereafter, at least thirty (30) days prior to the effective date of any such
policy, Tenant agrees to deliver to Landlord either a duplicate original of the
aforesaid policy or a certificate evidencing such insurance. Said certificate
shall contain an endorsement that such insurance may not be cancelled except
upon ten (10) days' notice to Landlord. Tenant's failure to provide and keep in
force the aforementioned insurance, within three (3) Business Days after notice
from Landlord shall be regarded as a material default hereunder entitling
Landlord to exercise any or all of the remedies provided in this Lease in the
event of Tenant's default.

                  9.10     Landlord shall from and after the date of this Lease
through the last day of the term hereof, procure and maintain (or cause to be
procured or maintained) fire and extended coverage insurance, in good and
solvent insurance companies authorized to do business in the State of New York,
on the Building (exclusive of foundations and footings) in an amount equal to
the full replacement value thereof as required by the terms of any existing
ground lease or first mortgage affecting the Building. Such insurance may be
carried under a blanket policy covering the Building and any other buildings or
other properties of Landlord, provided that the required amount of coverage is
expressly reserved and allocated to the Building, and may contain commercially
reasonable deductibles. Notwithstanding anything contained in this Section 9.10
to the contrary, if at any time an "institutional lender" (as such term is
hereinafter defined) shall succeed to the rights of Landlord under this Lease
whether through sale, exchange, lease, possession, foreclosure action, deed in
lieu thereof, or otherwise, the obligations of Landlord set forth in this
Section 9.10 shall not apply to such institutional lender.

                                       28

<PAGE>

For the purposes of this Section 9.10, an "institutional lender" shall mean any
bank, savings and loan association, trust company, insurance company, pension
fund or similar institutional lender, which in the ordinary course of its
business, owns or operates first-class office buildings and, in connection with
such ownership or operation, is self-insured with respect to fire and extended
coverage and which has a "Standard & Poor's" or "Moody's" (or any successor
rating service or substitute rating service (if either of the "Standard &
Poor's" and "Moody's" services are not then available)) "claims paying ability
rating" or "debt rating" of AA or Aa (or better) or a "Best's Insurance" (or any
successor rating service or substitute rating service, if "Best's insurance" is
not then available) rating of A (or better). If the rating scales of any of such
rating services (or their successors or substitutes) are changed, then the
required rating shall be that rating which is most nearly comparable to the
current rating of "AA" (for Standard & Poor's), "Aa" (for Moody's) or "A" (for
Best's Insurance).

                  9.11     Landlord and Tenant shall each look first to any
insurance in its favor before making any claim against the other party for
recovery for loss or damage resulting from fire or other casualty.

                                   ARTICLE 10

                          DAMAGE BY FIRE OR OTHER CAUSE

                  10.01    If the Building or the demised premises shall be
partially or totally damaged or destroyed by fire or other cause, then whether
or not the damage or destruction shall have resulted from the fault or neglect
of Tenant, or its employees, agents or visitors (and if this Lease shall not
have been terminated as in this Article 10 hereinafter provided), Landlord shall
repair the damage and restore and rebuild the Building and/or the demised
premises, at its expense (without limiting the rights of Landlord under any
other provisions of this Lease), with reasonable dispatch after notice to it of
the damage or destruction; provided, however, that Landlord shall not be
required to repair or replace any of Tenant's property.

                  10.02    If the Building or the demised premises shall be
partially damaged or partially destroyed by fire or other cause, then unless
such fire or damage shall have resulted from the negligence of Tenant, the rents
payable hereunder shall be abated to the extent that the demised premises shall
have been rendered untenantable for the period from the date of such damage or
destruction to the date the damage shall be repaired or restored. If the demised
premises or a major part thereof shall be totally (which shall be deemed to
include substantially totally) damaged or destroyed or rendered completely
(which shall be deemed to

                                       29

<PAGE>

include substantially completely) untenantable on account of fire or other
cause, the rents shall abate as of the date of the damage or destruction and
until Landlord shall repair, restore and rebuild the Building and the demised
premises, provided, however, that should Tenant beneficially reoccupy a portion
of the demised premises during the period the restoration work is taking place
and prior to the date that the same are made completely tenantable, rents
allocable to such portion shall be payable by Tenant from the date of such
occupancy.

                  10.03    If the Building or the demised premises shall be
totally damaged or destroyed by fire or other cause, or if the Building shall be
so damaged or destroyed by fire or other cause (whether or not the demised
premises are damaged or destroyed) as to require a reasonably estimated
expenditure of more than forty percent (40%) of the full insurable value of the
Building immediately prior to the casualty, then in either such case Landlord
may terminate this Lease by giving Tenant notice to such effect within ninety
(90) days after the date of the casualty; and if Tenant is then in occupancy of
the demised premises, the termination shall be effective as of the earlier of
Tenant's vacating of the demised premises or ninety (90) days after Landlord's
termination notice. In case of any damage or destruction mentioned in this
Article 10, (i) Landlord, within sixty (60) days after such damage or
destruction, shall deliver to Tenant an estimate (the "Estimate") of the time
(the "Estimated Time") required to repair or restore the damage or destruction,
prepared by an independent contractor or architect selected by Landlord, and if
the Estimated Time set forth in the Estimate exceeds twelve (12) months from the
date of such damage or destruction, Tenant may terminate this Lease by notice to
Landlord sent by Tenant and received by Landlord within thirty (30) days after
Tenant's receipt of the Estimate, or (ii) Tenant may terminate this Lease by
notice to Landlord (which shall be effective as of the earlier of Tenant's
vacating of the demised premises or ninety (90) days after such notice), if
Landlord has not completed the making of the required repairs and restored and
rebuilt the Building and the demised premises within twelve (12) months from the
date of such damage or destruction, or within such period after such date (not
exceeding six (6) months) as shall equal the aggregate period Landlord may have
been delayed in doing so by adjustment of insurance, labor trouble, governmental
controls, act of God, or any other cause beyond Landlord's reasonable control.

                  10.04    No damages, compensation or claim shall be payable by
Landlord for inconvenience, loss of business or annoyance arising from any
repair or restoration of any portion of the demised premises or of the Building
pursuant to this Article 10.

                  10.05    Notwithstanding any of the foregoing provisions of
this Article 10, if Landlord or the lessor of any superior lease or the holder
of any superior mortgage shall be unable to collect all of the insurance
proceeds (including

                                       30

<PAGE>

rent insurance proceeds) applicable to damage or destruction of the demised
premises or the Building by fire or other cause, by reason of some action or
inaction on the part of Tenant or any of its employees, agents or contractors,
then, without prejudice to any other remedies which may be available against
Tenant, there shall be no abatement of Tenant's rents, but the total amount of
such rents not abated (which would otherwise have been abated) shall not exceed
the amount of uncollected insurance proceeds.

                  10.06    Landlord will not carry separate insurance of any
kind on Tenant's property, and, except as provided by law or by reason of its
breach of any of its obligations hereunder, shall not be obligated to repair any
damage thereto or replace the same. Tenant shall maintain insurance on Tenant's
property, and Landlord shall not be obligated to repair any damage thereto or
replace the same.

                  10.07    The provisions of this Article 10 shall be considered
an express agreement governing any cause of damage or destruction of the demised
premises by fire or other casualty, and Section 227 of the Real Property Law of
the State of New York, providing for such a contingency in the absence of an
express agreement, and any other law of like import, now or hereafter in force,
shall have no application in such case.

                                   ARTICLE 11

                    ASSIGNMENT, MORTGAGING, SUBLETTING, ETC.

                  11.01    Tenant shall not (a) assign or otherwise transfer
this Lease or the term and estate hereby granted, (b) sublet the demised
premises or any part thereof or allow the same to be used or occupied by others
or in violation of Article 5 hereof (except that if Landlord allows a particular
use in the Building not provided in Article 5 hereof to tenants comprising, in
the aggregate, over forty percent (40%) of the rentable square feet in the
Building, such use shall be allowed under this Lease with respect to any
assignments and subletting of the demised premises), (c) mortgage, pledge or
encumber this Lease or the demised premises or any part thereof in any manner or
permit any lien to be filed against the Lease, the demised premises or the
Building by reason of any act or omission on the part of Tenant or enter into
any agreement which would permit the filing of a lien by any broker, or (d)
advertise, or authorize a broker to advertise, for a subtenant or an assignee,
without, in each instance, obtaining the prior consent of Landlord, except as
otherwise expressly provided in this Article 11. For purposes of this Article
11, (i) the transfer of a majority of the issued and outstanding capital stock
of any corporate tenant, or of a corporate subtenant, or the transfer of a
majority of the total interest in any partnership tenant or subtenant, however
accomplished,

                                       31
<PAGE>

whether in a single transaction or in a series of related or unrelated
transactions, shall be deemed an assignment of this Lease, or of such sublease,
as the case may be, except that the transfer of the outstanding capital stock of
any corporate tenant, or subtenant, shall be deemed not to include the sale of
such stock by persons or parties through the "over-the-counter market" or
through any recognized stock exchange, other than those deemed "insiders" within
the meaning of the. Securities Exchange Act of 1934 as amended, (ii) a takeover
agreement shall be deemed a transfer of this Lease, (iii) any person or legal
representative of Tenant, to whom Tenant's interest under this Lease passes by
operation of law, or otherwise, shall be bound by the provisions of this Article
11, and (iv) a modification, amendment or extension of a sublease shall be
deemed a sublease.

                  11.02    The provisions of Section 11.01 hereof shall not
apply to transactions pursuant to which Tenant is merged or consolidated with
another corporation or entity or in which substantially all of Tenant's assets
are transferred (provided such merger or transfer of assets is for a good
business purpose and not principally for the purpose of transferring the
leasehold estate created hereby, and provided further, that the assignee has a
net worth at least equal to or in excess of the net worth of Tenant immediately
prior to such merger or transfer) or, if Tenant is a partnership, with a
successor partnership.

                  11.03    Any assignment or transfer, whether made with
Landlord's consent as required by Section 11.01 or without Landlord's consent
pursuant to Section 11.02, shall be made only if, and shall not be effective
until, the assignee shall execute, acknowledge and deliver to Landlord a
recordable agreement, in form and substance reasonably satisfactory to Landlord,
whereby the assignee shall assume the obligations and performance of this Lease
and agree to be personally bound by and upon all of the covenants, agreements,
terms, provisions and conditions hereof on the part of Tenant to be performed or
observed and whereby the assignee shall agree that the provisions of Section
11.01 hereof shall, notwithstanding such an assignment or transfer, continue to
be binding upon it in the future. Tenant covenants that, notwithstanding any
assignment or transfer, whether or not in violation of the provisions of this
Lease, and notwithstanding the acceptance of fixed annual rent by Landlord from
an assignee or transferee or any other party, Tenant shall remain fully and
primarily liable for the payment of the fixed annual rent and additional rent
due and to become due under this Lease and for the performance of all of the
covenants, agreements, terms, provisions and conditions of this Lease on the
part of Tenant to be performed or observed.

                  11.04    The liability of Tenant, and the due performance by
Tenant of the obligations on its part to be performed under this Lease, shall
not be discharged, released or impaired in any respect by an agreement or
stipulation made by Landlord or any grantee or assignee of Landlord, by way of
mortgage, or

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<PAGE>

otherwise, extending the time of, or modifying any of the obligations contained
in this Lease, or by any waiver or failure of Landlord to enforce any of the
obligations on Tenant's part to be performed under this Lease, and Tenant shall
continue to be liable hereunder. If any such agreement or modification operates
to increase the obligations of a tenant under this Lease, the liability under
this Section 11.04 of, the tenant named in the Lease or any of its successors in
interest, (unless such party shall have expressly consented in writing to such
agreement or modification) shall continue to be no greater than if such
agreement or modification had not been made. To charge Tenant named in this
Lease and its successors in interest, no demand or notice of any default shall
be required. Tenant and each of its successors in interest hereby expressly
waive any such demand or notice.

                  11.05    (a)      Should Tenant agree, subject to the
provisions of this Lease, to assign this Lease, other than by an assignment
contemplated by Section 11.02, Tenant shall as soon as that agreement is
consummated, but no less than forty-five (45) days prior to the effective date
of the contemplated assignment, deliver to Landlord a duplicate original of such
agreement, and all ancillary agreements with the proposed assignee, and Landlord
shall then have the right to elect, by notifying Tenant within thirty (30) days
of such delivery, to (i) terminate this Lease, as of such effective date as if
it were the Expiration Date set forth in this Lease or (ii) accept an assignment
of this Lease from Tenant, and Tenant shall then promptly execute and deliver to
Landlord, or Landlord's designee if so elected by Landlord, in form reasonably
satisfactory to Landlord's counsel, an assignment which shall be effective as of
such effective date. Notwithstanding anything to the contrary herein, in the
case of a termination under clause (i) of this subsection (a), Tenant shall be
released from all of its obligations under this Lease to the same extent as if
the effective date of such termination were the Expiration Date. Notwithstanding
anything to the contrary herein, Tenant shall not be liable to Landlord for any
default by any assignee designated by Landlord under clause (ii) of this
subsection (a).

                           (b)      In the event that this Lease shall be
assigned to Landlord or Landlord's designee or if the demised premises shall be
sublet to Landlord or Landlord's designee pursuant to this Section 11.05, the
provisions of any such sublease or assignment and the obligations of Landlord
and the rights of Tenant with respect thereto shall not be binding upon or
otherwise affect the rights of any holder of a superior mortgage or of a lessor
under a superior lease unless such holder or lessor shall elect by written
notice to Tenant to succeed to the position of Landlord or its designee, as the
case may be, thereunder.

                           (c)      Should Tenant agree, subject to the
provisions of this Lease, to sublet the demised premises or any portion thereof,
other than by a sublease contemplated by Section 11.02, Tenant shall, as soon as
that agreement is

                                       33

<PAGE>

consummated, but no less than forty-five (45) days prior to the effective date
of the contemplated sublease, deliver to Landlord, a duplicate original of the
proposed sublease and all ancillary agreements with the proposed sublessee, and
Landlord shall then have the right to elect, by notifying Tenant within thirty
(30) days of such delivery, to (i) terminate this Lease as to the portion of the
demised premises affected by such subletting or as to the entire demised
..premises, in the case of a subletting thereof for all or substantially the
remainder of the Term, as of such effective date, (ii) in the case of a proposed
subletting of the entire demised premises for all or substantially the remainder
of the Term, or any lesser period, either terminate this Lease or enter into an
assignment of this Lease or a subletting of the demised premises to Landlord
from Tenant for the remainder of the term, at Landlord's option, and Tenant
shall then promptly execute and deliver to Landlord, or Landlord's designee if
so elected by Landlord, in form reasonably satisfactory to Landlord's counsel,
an assignment, or subletting as the case may be, which shall be effective as of
such effective date (there being no need to execute an agreement more than
merely confirming the date of termination in the event of Landlord's election of
same, this clause being self-operative) or, (iii) accept a sublease from Tenant
of the portion of the demised premises affected by such proposed subletting if
less than all or substantially all of the entire demised premises in the case of
a proposed subletting thereof for less than the remaining term hereof, and
Tenant shall then promptly execute and deliver a sublease to Landlord, or
Landlord's designee if so elected by Landlord, in reasonably satisfactory form,
for the proposed term thereof, at Landlord's option, commencing with such
effective date, at either (x) the rental terms reflected in the proposed
sublease or (y) the rental terms contained in this Lease on a per rentable
square foot basis, as elected by Landlord in such notice. Notwithstanding
anything to the contrary herein, in the case of a termination under clause (i)
of this subsection (c), Tenant shall be released from all of its obligations
under this Lease with respect to the portion of the demised premises affected by
Tenant's proposed subletting or as to the entire demised premises in the case of
a proposed subletting thereof to the same extent as if the effective date of
such termination were the Expiration Date. Notwithstanding anything to the
contrary herein, Tenant shall not be liable to Landlord for any default by any
subtenant designated by Landlord under clause (ii) or (iii) of this subsection
(c).

                           (d)      If Landlord should elect to have Tenant
execute and deliver a sublease to Landlord or its designee pursuant to any of
the provisions of this Section 11.05, said sublease shall be in a form
reasonably satisfactory to Landlord's counsel and on all the terms contained in
this Lease, except that:

                           (i)      The rental terms, if elected by Landlord,
                                    may be either as provided in item (x) or
                                    item (y) of subsection 11.05(c) hereof,

                                       34

<PAGE>

                           (ii)     The sublease shall not provide for any work
                                    to be done for the subtenant or for any
                                    initial rent concessions or contain
                                    provisions inapplicable to a sublease,
                                    except that in the case of a subletting of a
                                    portion of the demised premises Tenant shall
                                    reimburse subtenant for the cost of erecting
                                    such demising walls as are necessary to
                                    separate the subleased premises from the
                                    remainder of the demised premises and to
                                    provide access thereto,

                           (iii)    The subtenant thereunder shall have the
                                    right to underlet the subleased premises, in
                                    whole or in part, without Tenant's consent,

                           (iv)     The subtenant thereunder shall have the
                                    right to make, or cause to be made, any
                                    changes, alterations, decorations, additions
                                    and improvements that such subtenant may
                                    desire or authorize,

                           (v)      Such sublease shall expressly negate any
                                    intention that any estate created by or
                                    under such sublease be merged with any other
                                    estate held by either of the parties
                                    thereto,

                           (vi)     Any consent required of Tenant, as lessor
                                    under that sublease, shall be deemed granted
                                    if consent with respect thereto is granted
                                    by Landlord,

                           (vii)    There shall be no limitation as to the use
                                    of the sublet premises by the subtenant
                                    thereunder,

                           (viii)   Such sublease shall provide that Tenant's
                                    obligations with respect to vacating the
                                    demised premises and removing any changes,
                                    alterations, decorations, additions or
                                    improvements made in the subleased premises
                                    shall be limited to those which accrued and
                                    related to such as were made prior to the
                                    effective date of the sublease.

                           (e) If pursuant to the exercise of any of Landlord's
options pursuant to Section 11.05 hereof this Lease is terminated as to only a
portion of the demised premises, then the fixed annual rent payable hereunder
and the additional rent payable pursuant to Article 3 hereof shall be adjusted
in proportion to the portion of the demised premises affected by such
termination.

                                       35

<PAGE>

                  11.06    In the event that Landlord does not exercise any of
the options available to it pursuant to Section 11.05 hereof, Landlord shall not
unreasonably withhold or delay its consent to an assignment of this Lease or a
subletting of the whole or any part of the demised premises, provided:

                           (a)      Tenant shall furnish Landlord with the name
and business address of the proposed subtenant or assignee, information with
respect to the nature and character of the proposed subtenant's or assignee's
business, or activities, such references and current financial information with
respect to net worth, credit and financial responsibility as are reasonably
satisfactory to Landlord, and an executed counterpart of the sublease or
assignment agreement;

                           (b)      The proposed subtenant or assignee is a
reputable party whose financial net worth, credit and financial responsibility
is, considering the responsibilities involved, reasonably satisfactory to
Landlord;

                           (c)      The nature and character of the proposed
subtenant or assignee, its business or activities and intended use of the
demised premises is, in Landlord's reasonable judgment, in keeping with the
standards of the Building and the floor or floors on which the demised premises
are located;

                           (d)      The proposed subtenant or assignee is not
then an occupant of any part of the Building or a party who dealt with Landlord
or Landlord's agent (directly or through a broker) with respect to space in the
Building during the twelve (12) months immediately preceding Tenant's request
for Landlord's consent;

                           (e)      All costs incurred with respect to providing
reasonably appropriate means of ingress and egress from the sublet space or to
separate the sublet space from the remainder of the demised premises shall,
subject to the provisions of Article 6 with respect to alterations,
installations, additions or improvements be borne by Tenant or such subtenant;

                           (f)      Each sublease shall specifically state that
(i) it is subject to all of the terms, covenants, agreements, provisions, and
conditions of this Lease, (ii) the subtenant or assignee, as the case may be,
will not have the right to a further assignment thereof or sublease or
assignment thereunder, or to allow the demised premises to be used by others,
without the consent of Landlord in each instance, (iii) a consent by Landlord
thereto shall not be deemed or construed to modify, amend or affect the terms
and provisions of this Lease, or Tenant's obligations hereunder, which shall
continue to apply to the premises involved, and the occupants thereof, as if the
sublease or assignment had not been made;

                                       36

<PAGE>

                           (g)      Tenant shall together with requesting
Landlord's consent hereunder, have paid Landlord any reasonable costs incurred
by Landlord to review the requested consent including any reasonable attorneys
fees incurred by Landlord (not to exceed $2,500 in any instance);

                           (h)      The proposed subtenant or assignee is not
(i) a bank trust company, safe deposit business, savings and loan association or
loan company; (ii) employment or recruitment agency; (iii) school, college,
university or educational institution whether or not for profit; (iv) a
government or any subdivision or agency thereof;

                           (i)      In the case of a subletting of a portion of
the demised premises, the portion so sublet shall be regular in shape and
suitable for normal renting purposes and such subletting will not result in more
than two (2) occupants (including Tenant) occupying the portion of the demised
premises on any floor of the Building, or more than four (4) occupants
(including Tenant), in the aggregate, occupying the demised premises;

                           (j)      The proposed assignment shall be for a
consideration or the proposed subletting shall be at a rental rate not less than
the rental rates then being charged under leases being entered into by Landlord
for comparable space in the Building and for a comparable term, and in no event
shall Tenant advertise or list with brokers at such lower rental rate.

                  11.07    If Tenant shall assign this Lease or sublease all or
any part of the demised premises, Tenant shall pay to Landlord, as additional
rent:

                           (a)      in the case of an assignment, an amount
equal to sixty percent (60%) of all sums and other considerations paid to Tenant
by the assignee for or by reason of such assignment or otherwise (including, but
not limited to, sums paid for the sale of Tenant's fixtures, leasehold
improvements, equipment, furniture, furnishings or other personal property,
less, in the case of a sale thereof, the then fair market value), less
reasonable advertising costs and expenses, customary brokerage commissions and
reasonable legal fees actually incurred in connection with such assignment; and

                           (b)      in the case of a sublease, an amount equal
to sixty percent (60%) of any rents, additional charge or other consideration
payable under the sublease or otherwise to Tenant by the subtenant which is in
excess of the fixed annual rent and additional rent accruing during the term of
the sublease in respect of the subleased space (at the rate per square foot
payable by Tenant hereunder) pursuant to the terms hereof (including, but not
limited to, sums paid for the sale or rental of Tenant's fixtures, leasehold
improvements, equipment, furniture or other

                                       37

<PAGE>

personal property, less, in the case of the sale thereof, the then fair market
value), less reasonable advertising costs and expenses, customary brokerage
commissions and reasonable legal fees actually incurred in connection with such
subletting and amortized over the term of the sublease.

The sums payable under this Section 11.07 shall be paid to Landlord as and when
paid by the subtenant or assignee, as the case may be, to Tenant.

                  11.08    If Tenant defaults in the payment of any rent,
Landlord is authorized to collect any rents due or accruing from any assignee,
subtenant or other occupant of the demised premises and to apply the net amounts
collected to the fixed annual rent and additional rent reserved herein. The
receipt by Landlord of any amounts from an assignee or subtenant, or other
occupant of any part of the demised premises shall not be deemed or construed as
releasing Tenant from Tenant's obligations hereunder or the acceptance of that
party as a direct tenant.

                  11.09    In connection with any proposed assignment or
sublease, Tenant shall grant to Landlord's then managing agent the exclusive
right to sublease or to assign this Lease, as the case may be, for a period of
thirty (30) days after Tenant's notice of its intent to assign or sublease.

                  11.10    (a)      Tenant may assign this Lease or sublet the
entire demised premises for substantially the balance of the term of this Lease
to any corporation into or with which Tenant may be merged or consolidated or to
any corporation which shall be an affiliate, subsidiary, parent or successor of
Tenant, subject to Landlord's consent (which consent shall not be unreasonably
withheld or delayed), provided and on condition that (i) such transaction is for
a bona fide business purpose and not, either directly or indirectly, principally
for the purpose of transferring the leasehold created hereby, and (ii) the
successor to the Tenant or the transferee on the effective date of such proposed
assignment or the proposed sublessee of such sublease or the Tenant shall have a
tangible net worth of at least $150,000,000 and proof thereof, reasonably
satisfactory to Landlord shall have been delivered to Landlord at least ten (10)
days prior to the effective date of such assignment or sublease; provided that
if such assignee or sublessee or Tenant has a tangible net worth of less than
$150,000,000 on the effective date of such assignment or sublease, then as a
condition to such assignment or sublease (1) such assignee or sublessee shall,
on or before the effective date of such assignment or sublease, deliver to
Landlord as additional security hereunder, a letter of credit in favor of
Landlord, in the form of Exhibit D attached hereto, in an amount equal to the
product of (x) $1,000,000 multiplied by (y) a fraction, the numerator of which
is the difference between such assignee's or sublessee's or Tenant's then
tangible net worth (proof of which reasonably satisfactory to Landlord having
been delivered to Landlord at least ten (10) days prior to the effective date of
such assignment or

                                       38

<PAGE>

sublease) and $150,000,000 and the denominator of which is $10,000,000 and, (2)
the amount of the security then held by Landlord in accordance with the
provisions of Article 42 herein, as increased pursuant to this Section 11 shall
not be reduced below the amount set forth in said Article 42 (i.e., $2,000,000).

                           (b)      For the purpose of this Section 11.10(a), a
"subsidiary" or "affiliate" or "successor" of Tenant shall mean the following:

                           (i)      An "affiliate" shall mean any corporation
                                    which, directly or indirectly, controls or
                                    is controlled by or is under common control
                                    with Tenant. For this purpose, "control"
                                    shall mean the possession, directly or
                                    indirectly, of the power to direct or cause
                                    the direction of the management and policies
                                    of such corporation, whether through the
                                    ownership of voting securities or by
                                    contract or otherwise.

                           (ii)     A "subsidiary" shall mean any corporation
                                    not less than fifty percent (50%) of whose
                                    outstanding stock shall, at the time, be
                                    owned directly or indirectly by Tenant. Any
                                    cessation of the affiliate or subsidiary
                                    relationship between Tenant and the entity
                                    in question shall constitute an assignment
                                    or subletting, as the case may be, which
                                    shall be subject to all of the terms,
                                    provisions and conditions of this Article.

                           (iii)    A "successor" of Tenant shall mean (x) a
                                    corporation or other entity in which or with
                                    which Tenant, its successors or assigns, is
                                    merged or consolidated, in accordance with
                                    applicable statutory provisions for merger
                                    or consolidation of entities, provided that
                                    by operation of law or by effective
                                    provisions contained in the instruments of
                                    merger or consolidation, the liabilities of
                                    the entities participating in such merger or
                                    consolidation are assumed by the entity
                                    surviving such merger or created by such
                                    consolidation, or (y) a transferee of not
                                    less than eighty percent (80%) of the issued
                                    and outstanding stock of Tenant.

                                   ARTICLE 12

                            CERTIFICATE OF OCCUPANCY

                  12.01    Tenant will not at any time use or occupy the demised
premises in violation of the certificate of occupancy issued for the Building. A
copy of the existing certificate of occupancy has been furnished to Tenant.

                                       39

<PAGE>

                                   ARTICLE 13

                         ADJACENT EXCAVATION -- SHORING

                  13.01    If an excavation or other substructure work shall be
made upon land adjacent to the demised premises, or shall be authorized to be
made, Tenant shall afford to the person causing or authorized to cause such
excavation, license to enter upon the demised premises for the purpose of doing
such work as shall be necessary to preserve the wall of or the Building of which
the demised premises form a part from injury or damage and to support the same
by proper foundations without any claim for damages or indemnity against
Landlord, or diminution or abatement of rent.

                                   ARTICLE 14

                                  CONDEMNATION

                  14.01    In the event that the whole of the demised premises
shall be lawfully condemned or taken in any manner for any public or
quasi-public use, this Lease and the term and estate hereby granted shall
forthwith cease and terminate as of the date of vesting of title Landlord shall
notify Tenant within ten (10) Business Days following receipt of Tenant's
written request for information whether Landlord has received any notice of a
proposed condemnation or taking. In the event that only a part of the demised
premises shall be so condemned or taken, then, effective as of the date of
vesting of title, the fixed annual rent under Article 1 hereunder and additional
rents under Article 3 hereunder shall be abated in an amount thereof apportioned
according to the area of the demised premises so condemned or taken. In the
event that only a part of the Building (but not less than thirty percent (30%)
thereof in value) shall be so condemned or taken, then (a) Landlord (whether or
not the demised premises be affected) may, at Landlord's option, terminate this
Lease and the term and estate hereby granted as of the date of such vesting of
title by notifying Tenant in writing of such termination within sixty (60) days
following the date on which Landlord shall have received notice of vesting of
title, or (b) if such condemnation or taking shall be of a substantial part of
the demised premises or of a substantial part of the means of access thereto,
Tenant may, at Tenant's option, by delivery of notice in writing to Landlord
within thirty (30) days following the date on which Tenant shall have received
notice of vesting of title, terminate this Lease and the term and estate hereby
granted as of the date of vesting of title, or (c) if neither Landlord nor
Tenant elects to terminate this Lease, as aforesaid, this Lease shall be and
remain unaffected by such condemnation or taking, except that the fixed annual
rent payable under Article 1 and additional rents payable under Article 3 shall
be abated to the extent

                                       40

<PAGE>

hereinbefore provided in this Article 14. In the event that only a part of the
demised premises shall be so condemned or taken and this Lease and the term and
estate hereby granted with respect to the remaining portion of the demised
premises are not terminated as hereinbefore provided, Landlord will, with
reasonable diligence and at its expense, restore the remaining portion of the
demised premises as nearly as practicable to the same condition as it was in
prior to such condemnation or taking.

                  14.02    In the event of its termination in any of the cases
hereinbefore provided, this Lease and the term and estate hereby granted shall
expire as of the date of such termination with the same effect as if that were
the Expiration Date, and the fixed annual rent and additional rents payable
hereunder shall be apportioned as of such date.

                  14.03    In the event of any condemnation or taking
hereinbefore mentioned of all or a part of the Building, Landlord shall be
entitled to receive the entire award in the condemnation proceeding, including
any award, made for the value of the estate vested by this Lease in Tenant, and
Tenant hereby expressly assigns to Landlord any and all right, title and
interest of Tenant now or hereafter arising in or to any such award or any part
thereof, and Tenant shall be entitled to receive no part of such award. Tenant
shall be permitted to make a separate claim with the condemning authority for
its moving and relocation expenses and the cost of its fixtures, provided such
claim shall not have an adverse affect upon the award Landlord is entitled to
receive, as herein provided.

                  14.04    It is expressly understood and agreed that the
provisions of this Article 14 shall not be applicable to any condemnation or
taking for governmental occupancy for a limited period.

                  14.05    In the event of any taking of less than the whole of
the Building which does not result in a termination of this Lease, or in the
event of a taking for a temporary use or occupancy of all or any part of the
demised premises which does not result in a termination of this Lease, Landlord,
at its expense, and whether or not any award or awards shall be sufficient for
the purpose, shall proceed with reasonable diligence to repair, alter and
restore the remaining parts of the Building and the demised premises to
substantially their former condition to the extent that the same may be feasible
and so as to constitute a complete and tenantable Building and demised premises.

                  14.06    In the event any part of the demised premises be
taken to effect compliance with any law or requirement of public authority other
than in the manner hereinabove provided in this Article 14, then, (i) if such
compliance is the obligation of Tenant under this Lease, Tenant shall not be
entitled to any diminution or abatement of rent or other compensation from
Landlord therefor, but (ii) if such

                                       41

<PAGE>

compliance is the obligation of Landlord under this Lease, the fixed annual rent
hereunder shall be reduced and additional rents under Article 3 shall be
adjusted in the same manner as is provided in Section 14.01 according to the
reduction in rentable area of the demised premises resulting from such taking.

                                   ARTICLE 15

                       ACCESS TO DEMISED PREMISES; CHANGES

                  15.01    If Tenant shall permit Landlord to erect, use and
maintain pipes, ducts and conduits in and through the demised premises, provided
the same are installed adjacent to or concealed behind walls and ceilings of the
demised premises, Landlord shall to the extent practicable (except as required
by law or for the safety of the occupants of the Building) install such pipes,
ducts and conduits by such methods and at such locations as will not materially
interfere with or impair Tenant's layout or use of the demised premises.
Landlord or its agents or designees shall have the right to enter the demised
premises, at reasonable times during business hours, upon not less than
twenty-four (24) hours prior notice (which may be oral), except in the case of
an emergency, for the making of such repairs or alterations as Landlord may deem
necessary for the Building or which Landlord shall be required to or shall have
the right to make by the provisions of this Lease or any other lease in the
Building and; subject to the foregoing, shall also have the right to enter the
demised premises for the purpose of inspecting them or exhibiting them to
prospective purchasers or lessees of the entire Building or to prospective
mortgagees of the fee or of Landlord's interest in the property of which the
demised premises are a part or to prospective assignees of any such mortgages or
to the holder of any mortgage on the Landlord's interest in the property, its
agents or designees. Landlord shall be allowed to take all material into and
upon the demised premises that may be required for the repairs or alterations
above mentioned as the same is required for such purpose, without the same
constituting an eviction of Tenant in whole or in part, and the rent reserved
shall in no wise abate while said repairs or alterations are being made by
reason of loss or interruption of the business of Tenant because of the
prosecution of any such work. Landlord shall exercise reasonable diligence so as
to minimize the disturbance but nothing contained herein shall be deemed to
require Landlord to perform the same on an overtime or premium pay basis.

                  15.02    Landlord reserves the right, without the same
constituting an eviction and without incurring liability to Tenant therefor, to
renovate and/or change the arrangement and/or location of public entrances,
lobbies passageways, doors, doorways, corridors, elevators, stairways, toilets
and other public parts of the Building; provided, however, that access to the
Building shall not be cut off and that

                                       42

<PAGE>

there shall be no unreasonable obstruction of access to the demised premises or
unreasonable interference with the use or enjoyment thereof.

                  15.03    Landlord reserves the right to light from time to
time all or any portion of the demised premises at night for display purposes
without paying Tenant therefor; provided such lighting shall not unreasonably
disturb or interfere with Tenant's use or occupancy of the demised premises.

                  15.04    Landlord may, during the twelve (12) months prior to
expiration of the term of this Lease, exhibit the demised premises to
prospective tenants.

                  15.05    If Tenant shall not be personally present to open and
permit an entry into the demised premises at any time when for any reason an
entry therein shall be urgently necessary by reason of fire or other emergency,
Landlord or Landlord's agents may forcibly enter the same without rendering
Landlord or such agents liable therefor (if during such entry Landlord or
Landlord's agents shall accord reasonable care to Tenant's property) and without
in any manner affecting the obligations and covenants of this Lease; provided
Landlord shall, in the event of an emergency, attempt to call Tenant's 24-hour
representative, provided further that Tenant shall have given the name and phone
number for such representative to Landlord.

                                   ARTICLE 16

                            CONDITIONS OF LIMITATION

                  16.01    This Lease and the term and estate hereby granted are
subject to the limitation that whenever Tenant shall make an assignment of the
property of Tenant for the benefit of creditors, or shall file a voluntary
petition under any bankruptcy or insolvency law or any involuntary petition
alleging an act of bankruptcy or insolvency shall be filed against Tenant under
any bankruptcy or insolvency law, or whenever a petition shall be filed by or
against Tenant under the reorganization provisions of the United States
Bankruptcy Act or under the provisions of any law of like import, or whenever a
petition shall be filed by Tenant under the arrangement provisions of the United
States Bankruptcy Act or under the provisions of any law of like import, or
whenever a permanent receiver of Tenant or of or for the property of Tenant
shall be appointed, then, Landlord may, (a) at any time after receipt of notice
of the occurrence of any such event, or (b) if such event occurs without the
acquiescence of Tenant, at any time after the event continues for thirty (30)
days, give Tenant a notice of intention to end the term of this Lease at the
expiration of five (5) days from the date of service of such notice of
intention,

                                       43

<PAGE>

and upon the expiration of said five (5) day period, this Lease and the term and
estate hereby granted, whether or not the term shall theretofore have commenced,
shall terminate with the same effect as if that day were the Expiration Date,
but Tenant shall remain liable for damages as provided in Article 18.

                  16.02    This Lease and the term and estate hereby granted are
subject to further limitation as follows:

                           (a)      whenever Tenant shall default in the payment
of any installment of fixed annual rent, or in the payment of any additional
rent or any other charge payable by Tenant to Landlord, on any day upon which
the same ought to be paid, and such default shall continue for five (5) days
after Landlord shall have given Tenant a notice specifying such default, or

                           (b)      whenever Tenant shall do or permit anything
to be done, whether by action or inaction, contrary to any of Tenant's
obligations hereunder, and if such situation shall continue and shall not be
remedied by Tenant within fifteen (15) days after Landlord shall have given to
Tenant a notice specifying the same, or, in the case of a happening or default
which cannot with due diligence be cured within a period of fifteen (15) days
and the continuation of which for the period required for cure will not subject
Landlord to the risk of criminal liability (as more particularly described in
Article 8 hereof) or termination of any superior lease or foreclosure of any
superior mortgage, if Tenant shall not, (i) within said fifteen (15) day period
advise Landlord of Tenant's intention to duly institute all steps necessary to
remedy such situation, (ii) duly institute within said fifteen (15) day period,
and thereafter diligently and continuously prosecute to completion all steps
necessary to remedy the same and (iii) complete such remedy within such time
after the date of the giving of said notice to Landlord as shall reasonably be
necessary, or

                           (c)      whenever any event shall occur or any
contingency shall arise whereby this Lease or the estate hereby granted or the
unexpired balance of the term hereof would, by operation of law or otherwise,
devolve upon or pass to any person, firm or corporation other than Tenant,
except as expressly permitted by Article 11, or

                           (d)      Intentionally omitted.

                           (e)      whenever in case any other lease held by
Tenant from Landlord shall expire and terminate (whether or not the term thereof
shall then have commenced) as a result of the default of Tenant thereunder or of
the occurrence of an event as therein provided (other than by expiration of the
fixed term thereof or pursuant to a cancellation or termination option therein
contained), or

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<PAGE>

                           (f)      whenever Tenant shall default in the due
keeping, observing or performance of any covenant, agreement, provision or
condition of Article 5 hereof on the part of Tenant to be kept, observed or
performed which default threatens the health or safety of any occupant of or
visitor to the Building or affects any other tenants' rights to occupy the
Building and if such default shall continue and shall not be remedied by Tenant
within five (5) Business Days after Landlord shall have given to Tenant a notice
specifying the same,

                           (g)      if during any consecutive eighteen (18)
month period during the term of this Lease (i) Tenant shall have on three (3) or
more occasions paid any installment of fixed annual rent or any additional rent
more than ten (10) days after the same was due hereunder and (ii) Landlord shall
have given Tenant notice of such default pursuant to subsection (a) hereof
before such default was cured,

then in any of said cases set forth in the foregoing subsections (a), (b), (c),
(e), (f) and (g) Landlord may give to Tenant a notice of intention to end the
term of this Lease at the expiration of three (3) days from the date of the
service of such notice of intention, and upon the expiration of said three (3)
days this Lease and the term and estate hereby granted, whether or not the term
shall theretofore have commenced, shall terminate with the same effect as if
that day were the Expiration Date, but Tenant shall remain liable for damages as
provided in Article 18.

                                   ARTICLE 17

                        RE-ENTRY BY LANDLORD, INJUNCTION

                  17.01    If Tenant shall default in the payment of any
installment of fixed annual rent, or of any additional rent, on any date upon
which the same ought to be paid, and if such default shall continue for five (5)
days after Landlord shall have given to Tenant a notice specifying such default,
or if this Lease shall expire as in Article 16 provided, Landlord or Landlord's
agents and employees may immediately or at any time thereafter re-enter the
demised premises, or any part thereof, either by summary dispossess proceedings
or, by any suitable action or proceeding at law, or by force or otherwise,
without being liable to indictment, prosecution or damages therefrom, to the end
that Landlord may have, hold and enjoy the demised premises again as and of its
first estate and interest therein. The word re-enter, as herein used, is not
restricted to its technical legal meaning. In the event of any termination of
this Lease under the provisions of Article 16 or if Landlord shall re-enter the
demised premises under the provisions of this Article 17 or in the event of the
termination of this Lease, or of re-entry, by or under any summary dispossess or
other proceedings or action or any provision of law by

                                       45

<PAGE>

reason of default hereunder on the part of Tenant, Tenant shall thereupon pay to
Landlord the fixed annual rent and additional rent payable by Tenant to Landlord
up to the time of such termination of this Lease, or of such recovery of
possession of the demised premises by Landlord, as the case may be, and shall
also pay to Landlord damages as provided in Article 18.

                  17.02    In the event of a breach or threatened breach by
Tenant of any of its obligations under this Lease, Landlord shall also have the
right of injunction. The special remedies to which Landlord may resort hereunder
are cumulative and are not intended to be exclusive of any other remedies or
means of redress to which Landlord may lawfully be entitled at any time and
Landlord may invoke any remedy allowed at law or in equity as if specific
remedies were not provided for herein.

                  17.03    If this Lease shall terminate under the provisions of
Article 16, or if Landlord shall re-enter the demised premises under the
provisions of this Article 17, or in the event of the termination of this Lease,
or of re-entry, by or under any summary dispossess or other proceeding or action
or any provision of law by reason of default hereunder on the part of Tenant,
Landlord shall be entitled to retain all moneys, if any, paid by Tenant to
Landlord, whether as advance rent, security or otherwise, but such moneys shall
be credited by Landlord against any fixed annual rent or additional rent due
from Tenant at the time of such termination or re-entry or, at Landlord's option
against any damages payable by Tenant under Articles 16 and 18 or pursuant to
law.

                  17.04    Tenant hereby expressly waives any and all rights of
redemption granted by or under any present or future laws in the event of Tenant
being evicted or dispossessed for any cause, or in the event of Landlord
obtaining possession of the demised premises, by reason of the violation by
Tenant of any of the covenants and conditions of this Lease or otherwise.

                                   ARTICLE 18

                                     DAMAGES

                  18.01    If this Lease is terminated under the provisions of
Article 16, or if Landlord shall re-enter the demised premises under the
provisions of Article 17, or in the event of the termination of this Lease, or
of re-entry, by or under any summary dispossess or other proceeding or action or
any provision of law by reason of default hereunder on the part of Tenant,
Tenant shall pay to Landlord as damages, at the election of Landlord, either

                                       46

<PAGE>

                           (a)      a sum which at the time of such termination
of this Lease or at the time of any such re-entry by Landlord, as the case may
be, represents the then present value discounted at the rate of a United States
Treasury obligation having a maturity equivalent to the then remaining balance
of the term of this Lease, of the excess, if any, of

                                    (1)      the aggregate of the fixed annual
                           rent and the additional rent payable hereunder which
                           would have been payable by Tenant (conclusively
                           presuming the additional rent to be the same as was
                           payable for the year immediately preceding such
                           termination except that additional rent on account of
                           increases in Taxes and the Wage Rate shall be
                           presumed to increase at the average of the rates of
                           increase thereof previously experienced by Landlord
                           during the period (not to exceed 3 years) prior to
                           such termination) for the period commencing with such
                           earlier termination of this Lease or the date of any
                           such re-entry, as the case may be, and ending with
                           the Expiration Date, had this Lease not so terminated
                           or had Landlord not so re-entered the demised
                           premises, over

                                    (2)      the aggregate rental value of the
                           demised premises for the same period, or

                           (b)      sums equal to the fixed annual rent and the
additional rent (as above presumed) payable hereunder which would have been
payable by Tenant had this Lease not so terminated, or had Landlord not so
re-entered the demised premises, payable upon the due dates therefor specified
herein following such termination or such re-entry and until the Expiration
Date, provided, however, that if Landlord shall re-let the demised premises
during said period, Landlord shall credit Tenant with the net rents received by
Landlord from such re-letting, such net rents to be determined by first
deducting from the gross rents as and when received by Landlord from such
re-letting, the expenses incurred or paid by Landlord in terminating this Lease
or in re-entering the demised premises and in securing possession thereof, as
well as the expenses of re-letting, including altering and preparing the demised
premises for new tenants, brokers' commissions, and all other expenses properly
chargeable against the demised premises and the rental thereof; it being
understood that any such re-letting may be for a period shorter or longer than
the remaining term of this Lease; but in no event shall Tenant be entitled to
receive any excess of such net rents over the sums payable by Tenant to Landlord
hereunder, or shall Tenant be entitled in any suit for the collection of damages
pursuant to this subsection to a credit in respect of any net rents from a
re-letting, except to the extent that such net rents are actually received by
Landlord. If the demised premises or any part thereof should be re-let in
combination with

                                       47

<PAGE>

other space, then proper apportionment on a square foot basis shall be made of
the rent received from such re-letting and of the expenses of re-letting.

If the demised premises or any part thereof be re-let by Landlord for the
unexpired portion of the term of this Lease, or any part thereof, before
presentation of proof of such damages to any court, commission or tribunal, the
amount of rent reserved upon such re-letting shall, prima facie, be the fair and
reasonable rental value for the demised premises, or part thereof, so re-let
during the term of the re-letting.

                  18.02    Suit or suits for the recovery of such damages, or
any installments thereof, may be brought by Landlord from time to time at its
election, and nothing contained herein shall be deemed to require Landlord to
postpone suit until the date when the term of this Lease would have expired if
it had not been so terminated under the provisions of Article 16, or under any
provision of law, or had Landlord not re-entered the demised premises. Except as
otherwise expressly provided herein, nothing herein contained shall be construed
to limit or preclude recovery by Landlord against Tenant of any sums or damages
to which, in addition to the damages particularly provided above, Landlord may
lawfully be entitled by reason of any default hereunder on the part of Tenant.
Nothing herein contained shall be construed to limit or prejudice the right of
Landlord to prove for and obtain as liquidated damages by reason of the
termination of this Lease or re-entry of the demised premises for the default of
Tenant under this Lease, an amount equal to the maximum allowed by any statute
or rule of law in effect at the time when, and governing the proceedings in
which, such damages are to be proved whether or not such amount be greater,
equal to, or less than any of the sums referred to in Section 18.01.

                                   ARTICLE 19

                LANDLORD'S RIGHT TO PERFORM TENANT'S OBLIGATIONS

                  19.01    If Tenant shall default, beyond any applicable notice
and cure periods, in the observance or performance of any term or covenant on
Tenant's part to be observed or performed under or by virtue of any of the terms
or provisions in any Article of this Lease, (a) Landlord may remedy such default
for the account of Tenant, immediately and without notice in case of emergency,
or in any other case only provided that Tenant shall fail to remedy such default
with all reasonable dispatch after Landlord shall have notified Tenant in
writing of such default and the applicable grace period for curing such default
shall have expired; and (b) if Landlord makes any expenditures or incurs any
obligations for the payment of money in connection with such default including,
but not limited to, reasonable attorneys' fees in instituting, prosecuting or
defending any action or proceeding,

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<PAGE>

such sums paid or obligations incurred, with interest at the Interest Rate,
shall be deemed to be additional rent hereunder and shall be paid by Tenant to
Landlord upon rendition of a bill to Tenant therefor.

                                   ARTICLE 20

                                 QUIET ENJOYMENT

                  20.01    Landlord covenants and agrees that subject to the
terms and provisions of this Lease, if, and so long as, Tenant keeps and
performs each and every covenant, agreement, term, provision and condition
herein contained on the part or on behalf of Tenant to be kept or performed,
then Tenant's rights under this Lease shall not be cut off or ended before the
expiration of the term of this Lease, subject however, to: (i) the obligations
of this Lease, and (ii) the provisions of Article 25 hereof with respect to
ground and underlying leases and mortgages which affect this Lease.

                                   ARTICLE 21

                             SERVICES AND EQUIPMENT

                  21.01    So long as Tenant is not in default, beyond any
applicable notice and cure periods, under any of the covenants of this Lease,
Landlord shall, at its cost and expense:

                           (a)      Provide necessary elevator facilities during
Business Hours of Business Days and shall have at least one elevator subject to
call at all other times. At Landlord's option, the elevators shall be operated
by automatic control or by manual control, or by a combination of both of such
methods. Tenant shall make all arrangements for, and pay all expenses incurred
in connection with, use of the freight elevators servicing the demised premises.
All scheduling of the freight elevators shall be done by advanced reservation on
a first come, first serve basis. Landlord agrees that during the Business Hours
on Business Days there shall be no charge for Tenant's normal use of the freight
elevators servicing the demised premises. However, Tenant acknowledges that (x)
Tenant's use of such freight elevator is non-exclusive and subject to scheduling
by Landlord, (y) if Tenant's use of such freight elevator for transporting
materials, supplies, equipment, machinery, furniture or furnishings will, in
Landlord's reasonable opinion, disrupt the operation of the Building (including
the normal use of the freight elevators), then Tenant will only be permitted to
use such freight elevator during non-Business Hours. Tenant shall be obligated
to pay for any usage of the freight elevator during hours other

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<PAGE>

than Business Hours on Business Days at Landlord's actual cost therefor and (z)
there is a four (4) hour minimum usage of the freight elevator during hours
other than Business Hours on Business Days.

                           (b)      Furnish heat to the demised premises during
Business Hours of Business Days. Landlord shall have no responsibility or
liability for the ventilating conditions and/or temperature of the demised
premises during the hours or days Landlord is not required to furnish heat
pursuant to this paragraph.

                           (c)      Furnish cold water for lavatory and drinking
and office cleaning purposes. Tenant, at Tenant's sole cost and expense, shall
have the right to install a hot water heater to provide hot water to the demised
premises. If Tenant requires, uses or consumes water for any other purposes,
Tenant agrees to Landlord installing a meter or meters or other means to measure
Tenant's water consumption, and Tenant further agrees to reimburse Landlord for
the cost of the meter or meters and the installation thereof, and to pay for the
maintenance of said meter equipment and/or to pay Landlord's cost of other means
of measuring such water consumption by Tenant. Tenant shall reimburse Landlord
on demand for the cost of all water consumed, as measured by said meter or
meters or as otherwise measured, including sewer rents.

                           (d)      Provide Tenant with up to ten (10) listings
in the Building's lobby directory; provided such number is not more than
Tenant's percentage share of the Building.

                  21.02    Landlord reserves the right without any liability
whatsoever, or abatement of fixed annual rent, or additional rent, to stop the
heating, air-conditioning, elevator, plumbing, electric and other systems when
necessary by reason of accident or emergency or for repairs, alterations,
replacements or improvements, provided that except in case of emergency,
Landlord will notify Tenant in advance, if possible, of any such stoppage and,
if ascertainable, its estimated duration, and will proceed diligently with the
work necessary to resume such service as promptly as possible and in a manner so
as to minimize interference with Tenant's use and enjoyment of the demised
premises.

                  21.03    Tenant shall clean and maintain the demised premises
and shall contract directly with the cleaner and a carting company for rubbish
removal designated by Landlord from time to time to render such services to
tenants of the Building, provided the rates charged by the cleaner and carting
company shall be commercially reasonable.

                  21.04    It is expressly agreed that only Landlord or any one
or more persons, firms or corporations reasonably authorized in writing by
Landlord will

                                       50

<PAGE>

be permitted to furnish laundry, linen, towels, drinking water and other similar
supplies and services to tenants and licensees in the Building. Landlord may
fix, in its reasonable discretion, at any time and from time to time, the hours
during which and the regulations under which such supplies and services are to
be furnished and under which, foods and beverages may be brought into Building
by persons other than regular employees of Tenant.

                  21.05    Tenant shall, at its sole cost and expense, install,
operate and maintain in good working order throughout the term of this Lease
Building Standard (as defined in Section 50.05(i)) air cooled packaged air
conditioning units (hereinafter the "Units") to be installed by Tenant, in
accordance with plans and specifications approved by Landlord (in accordance
with Article 50 below), on the seventeenth (17th) and eighteenth (18th) floors
of the demised premises pursuant to Section 50.06 hereof. Such maintenance
obligations shall be performed throughout the term of this Lease, on Tenant's
behalf and at Tenant's expense, by a reputable air conditioning maintenance
company, first approved by Landlord. Tenant's obligation to maintain the Units
shall include, but not be limited to, the periodic cleaning and/or replacement
of filters, replacements of fuses and belts, the calibration of thermostats and
all startup and shut down of the Units. Tenant shall, at its sole cost and
expense, perform any and all necessary repairs, and cause any and all
replacements of, the Units. The Units and any replacements thereof shall be and
remain at all times the property of Landlord, and Tenant shall surrender the
Units and all such replacements to Landlord on the Expiration Date.

                  21.06    Landlord shall provide to Tenant reasonable riser and
shaft space, as designated by Landlord, in the Building and provide Tenant with
reasonable access to telephone closets serving the demised premises on the
seventeenth (17th) and eighteenth (18th) floors.

                  21.07    Tenant shall have access to the Building 24-hours a
day, 7-days a week, 52-weeks a year, subject to Landlord's reasonable security
procedures, force majeure and any other conditions and circumstances beyond
Landlord's control.

                  21.08    Landlord will not be required to furnish any other
services, except as otherwise provided in this Lease.

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<PAGE>

                                   ARTICLE 22

                                   DEFINITIONS

                  22.01    The term "Landlord" as used in this Lease means only
the owner, or the mortgagee in possession, for the time being of the Land and
Building (or the owner of a lease of the Building or of the Land and Building),
so that in the event of any transfer of title to said Land and Building or said
lease, or in the event of a lease of the Building, or of the Land and Building,
upon notification to Tenant of such transfer or lease the said transferor
Landlord shall be and hereby is entirely freed and relieved of any and all
covenants, obligations and liabilities of Landlord hereunder, and it shall be
deemed and construed as a covenant running with the land without further
agreement between the parties or their successors in interest, or between the
parties and the transferee of title to said Land and Building or said lease, or
the said lessee of the Building, or of the Land and Building, that the
transferee or the lessee has assumed and agreed to carry out any and all such
covenants, obligations and liabilities of Landlord hereunder.

                  22.02    The term "Business Days" as used in this Lease shall
exclude Saturdays, Sundays and all days observed by the Federal, State or local
government as legal holidays as well as all other days recognized as holidays
under applicable union contracts. The term "Business Hours" as used in this
Lease shall mean the hours between 8:00 a.m. and 6:00 p.m.

                  22.03    "Interest Rate" shall mean a rate per annum equal to
the lesser of (a) three percent (3%) above the commercial lending rate announced
from time to time by Citibank, N.A., as its prime rate for 90-day unsecured
loans, or (b) the maximum applicable legal rate, if any.

                  22.04    "Legal Requirements" shall mean laws, statutes and
ordinances (including building codes and zoning regulations and ordinances) and
the orders, rules, regulations, directives and requirements of all federal,
state, county, city and borough departments, bureaus, boards, agencies; offices,
commissions and other subdivisions thereof, or of any official thereof, or of
any other governmental public or quasi-public authority, whether now or
hereafter in force, which may be applicable to the Land or Building or the
demised premises or any part thereof, or the sidewalks, curbs or areas adjacent
thereto and all requirements, obligations and conditions of all instruments of
record on the date of this Lease.

                                       52

<PAGE>

                                   ARTICLE 23

                           INVALIDITY OF ANY PROVISION

                  23.01    If any term, covenant, condition or provision of this
Lease or the application thereof to any circumstance or to any person, firm or
corporation shall be invalid or unenforceable to any extent, the remaining
terms, covenants, conditions and provisions of this Lease or the application
thereof to any circumstances or to any person, firm or corporation other than
those as to which any term, covenant, condition or provision is held invalid or
unenforceable, shall not be affected thereby and each remaining term, covenant,
condition and provision of this Lease shall be valid and shall be enforceable to
the fullest extent permitted by law.

                                   ARTICLE 24

                                    BROKERAGE

                  24.01    Tenant covenants, represents and warrants that Tenant
has had no dealings or communications with any broker, or agent other than
Newmark & Company Real Estate, Inc. (which is representing Landlord) and
Insignia/ESG, Inc. (collectively, the "Brokers") in connection with the
consummation of this Lease, and Tenant covenants and agrees to pay, hold
harmless and indemnify Landlord from and against any and all cost, expense
(including reasonable attorneys' fees) or liability for any compensation,
commissions or charges claimed by any broker or agent, other than the Brokers
set forth in this Section 24.01, with respect to this Lease or the negotiation
thereof. Landlord shall pay the brokerage fees due to the Brokers pursuant to
separate agreements. This Article 24 shall survive the expiration or sooner
termination of this Lease.

                                   ARTICLE 25

                                  SUBORDINATION

                  25.01    This Lease is and shall be subject and subordinate to
all ground or underlying leases which may now or hereafter affect the real
property of which the demised premises form a part and to all mortgages which
may now or hereafter affect such leases or such real property, and to all
renewals, modifications, replacements and extensions thereof. The provisions of
this Section 25.01 shall be self-operative and no further instrument of
subordination shall be required. In confirmation of such subordination, Tenant
shall promptly execute and deliver at its

                                       53

<PAGE>

own cost and expense any instrument, in recordable form if required, that
Landlord, the lessor of the ground or underlying lease or the holder of any such
mortgage or any of their respective successors in interest may request to
evidence such subordination.

                  25.02    In the event of a termination of any ground or
underlying lease, or if the interests of Landlord under this Lease are
transferred by reason of, or assigned in lieu of, foreclosure or other
proceedings for enforcement of any mortgage, or if the holder of any mortgage
acquires a lease in substitution therefor, then Tenant under this Lease will, at
the option to be exercised in writing by the lessor under such ground or
underlying lease or such mortgagee or purchaser, assignee or lessee, as the case
may be, either (i) attorn to it and will perform for its benefit all the terms,
covenants and conditions of this Lease on Tenant's part to be performed with the
same force and effect as if said lessor, such mortgagee or purchaser, assignee
or lessee, were the landlord originally named in this Lease, or (ii) enter into
a new lease with said lessor or such mortgagee or purchaser, assignee or lessee,
as landlord, for the remaining term of this Lease and otherwise on the same
terms and conditions and with the same options, if any, then remaining. The
foregoing provisions of clause (i) of this Section 25.02 shall enure to the
benefit of such lessor, mortgagee, purchaser, assignee or lessee, shall be
self-operative upon the exercise of such option, and no further instrument shall
be required to give effect to said provisions. Tenant, however, upon demand of
any such lessor, mortgagee, purchaser, assignee or lessee agrees to execute,
from time to time; instruments in confirmation of the foregoing provisions of
this Section 25.02, satisfactory to any such lessor, mortgagee, purchaser,
assignee or lessee, acknowledging such attornment and setting forth the terms
and conditions of its tenancy.

                  25.03    Anything herein contained to the contrary
notwithstanding, under no circumstances shall the aforedescribed lessor under
the ground lease or mortgagee or purchaser, assignee or lessee, as the case may
be, whether or not it shall have succeeded to the interests of the landlord
under this Lease, be

                           (a)      liable for any act, omission or default of
any prior landlord, except to the extent the same are of a continuing nature; or

                           (b)      subject to any offsets, claims or defenses
which the Tenant might have against any prior landlord, except to the extent the
same are of a continuing nature; or

                           (c)      bound by any fixed annual rent or additional
rent which Tenant might have paid to any prior landlord for more than one month
in advance or

                                       54

<PAGE>

for more than three months in advance where such rent payments are payable at
intervals of more than one month; or

                           (d)      bound by any modification, amendment or
abridgement of this Lease, or any cancellation or surrender of the same, made
without its prior written approval.

                  25.04    If, in connection with the financing of the Building,
the holder of any mortgage shall request reasonable modifications in this Lease
as a condition of approval thereof, Tenant will not unreasonably withhold, delay
or defer making such modifications, provided the same do not increase Tenant's
obligations or reduce Tenant's rights beyond a de minimis extent.

                  25.05    Tenant agrees that, except for the first month's rent
hereunder, it will pay no rent under this Lease more than thirty (30) days in
advance of its due date, if so restricted by any existing or future ground lease
or mortgage to which this Lease is subordinated or by an assignment of this
Lease to the ground lessor or the holder of such mortgage, and, in the event of
any act or omission by Landlord, Tenant will not exercise any right to terminate
this Lease or to remedy the default and deduct the cost thereof from rent due
hereunder until Tenant shall have given written notice of such act or omission
to the ground lessor and to the holder of any mortgage on the fee or the ground
lease who shall have furnished such lessor's or holder's last address to Tenant,
and until a reasonable period for remedying such act or omission shall have
elapsed following the giving of such notices, during which time such lessor or
holder shall have the right, but shall not be obligated, to remedy or cause to
be remedied such act or omission. Tenant shall not exercise any right pursuant
to this Section 26.02 if the holder of any mortgage or such aforesaid lessor
commences to cure such aforesaid act or omission within a reasonable time and
diligently prosecutes such cure thereafter.

                                   ARTICLE 26

                              CERTIFICATE OF TENANT

                  26.01    Landlord and Tenant agree, at any time and from time
to time, as requested by the other, upon not less than ten (10) days prior
notice, to execute and deliver to the other a statement certifying that this
Lease is unmodified and in full force and effect (or if there have been
modifications that the same is in full force as modified and stating the
modifications), certifying the dates to which the annual fixed rent and
additional rent have been paid, and stating whether or not, to the best of its
knowledge, the other party is in default in performance of any of its
obligations under the Lease, and, if so, specifying each such default of which
it

                                       55

<PAGE>

has knowledge, it being intended that any such statement delivered pursuant
hereto may be relied upon by others with whom the requesting party may be
dealing.

                                   ARTICLE 27

                     LEGAL PROCEEDINGS WAIVER OF JURY TRIAL

                  27.01    Landlord and Tenant do hereby waive trial by jury in
any action, proceeding or counterclaim brought by either of the parties hereto
against the other on any matters whatsoever arising out of or in any way
connected with this Lease, the relationship of Landlord and Tenant, Tenant's use
or occupancy of the demised premises, and/or any other claims (except claims for
bodily injury or damage to physical property), and any emergency statutory or
any other statutory remedy. It is further mutually agreed that in the event
Landlord commences any summary proceeding for non-payment of rent, Tenant will
not interpose and does hereby waive the right to interpose any counterclaim of
whatever nature or description in any such proceeding, except with respect to
compulsory counterclaims.

                                   ARTICLE 28

                              SURRENDER OF PREMISES

                  28.01    Upon the expiration or other termination of the term
of this Lease, Tenant shall quit and surrender to Landlord the demised premises,
broom clean, in good order and condition, ordinary wear and tear and damage by
fire, the elements or other casualty excepted, and Tenant shall remove all of
its property as herein provided. Tenant's obligation to observe or perform this
covenant shall survive the expiration or other termination of the term of this
Lease.

                  28.02    In the event Tenant remains in possession of the
demised premises after the Expiration Date or the date of sooner termination of
this Lease, Tenant, at the option of Landlord, shall be deemed to be occupying
the demised premises as a holdover tenant from month-to-month, at a monthly rent
equal to two (2) times the higher of (x) the sum of (i) the monthly installment
of fixed annual rent payable during the last month of the term of this Lease,
and (ii) one-twelfth (1/12th) of the additional rent payable during the last
year of the term of this Lease of (y) the fair market value of the demised
premises, calculated on a monthly basis, subject to all of the other terms and
obligations of this Lease insofar as the same are applicable to a month-to-month
tenancy.

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                                   ARTICLE 29

                              RULES AND REGULATIONS

                  29.01    Tenant and Tenant's servants employees and agents
shall observe faithfully and comply strictly with the Rules and Regulations set
forth in Exhibit C attached hereto and made part hereof entitled "Rules and
Regulations" and such other and further reasonable Rules and Regulations as
Landlord or Landlord's agents may from time to time adopt provided, however,
that in case of any conflict or inconsistency between the provisions of this
Lease and of any of the Rules and Regulations as originally or as hereafter
adopted, the provisions of this Lease shall control. Reasonable written notice
of any additional Rules and Regulations shall be given to Tenant. The Rules and
Regulations shall be applied to all office tenants in the Building in a
non-discriminatory manner.

                  Nothing in this Lease contained shall be construed to impose
upon Landlord any duty or obligation to enforce the Rules and Regulations or the
terms, covenants or conditions in any other lease, against any other tenant of
the Building, and Landlord shall not be liable to Tenant for violation of the
same by any other tenant, its servants, employees, agents, visitors or
licensees.

                                   ARTICLE 30

                             CONSENTS AND APPROVALS

                  30.01    Wherever in this Lease Landlord's consent or approval
is required, if Landlord shall delay or refuse such consent or approval, Tenant
in no event shall be entitled to make, nor shall Tenant make, any claim, and
Tenant hereby waives any claim, for money damages (nor shall Tenant claim any
money damages by way of set-off, counterclaim or defense) based upon any claim
or assertion by Tenant that Landlord unreasonably withheld or unreasonably
delayed its consent or approval. Tenant's sole remedy shall be an action or
proceeding to enforce any such provision, for specific performance, injunction
or declaratory judgment.

                                   ARTICLE 31

                                     NOTICES

                  31.01    Any notice or demand, consent, approval or
disapproval, or statement required to be given by the terms and provisions of
this Lease, or by

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any law or governmental regulation, either by Landlord to Tenant or by Tenant to
Landlord, shall be in writing. Unless otherwise required by such law or
regulation, such notice or demand shall be deemed to have been served and given
three (3) Business Days after such notice or demand is mailed by registered or
certified mail, return receipt requested, deposited enclosed in a securely
closed post-paid wrapper, in a United States Government general or branch post
office, or official depository within the exclusive care and custody thereof, or
upon acceptance or refusal of delivery if sent via Federal Express or like
nationally recognized overnight courier, addressed to either party, at its
address set forth on page 1 of this Lease. After Tenant shall occupy the demised
premises, the address of Tenant for notices, demands, consents, approvals or
disapprovals shall be the address provided on page 1 of this Lease, Attention:
General Counsel. Either party may, by notice as aforesaid, designate a different
address or addresses for notices, demands, consents, approvals or disapprovals.
Copies of notices sent by Tenant to Landlord shall be sent to Arent Fox Kintner
Plotkin & Kahn PLLC, 1675 Broadway, New York, New York 10019, Attention: Jeffrey
Walker, Esq.

                  31.02    In addition to the foregoing, either Landlord or
Tenant may, from time to time, request in writing that the other party serve a
copy of any notice or demand, consent, approval or disapproval, or statement, on
one other person or entity designated in such request, such service to be
effected as provided in Section 31.01 hereof.

                                   ARTICLE 32

                                    NO WAIVER

                  32.01    No agreement to accept a surrender of this Lease
shall be valid unless in writing signed by Landlord. No employee of Landlord or
of Landlord's agents shall have any power to accept the keys of the demised
premises prior to the termination of this Lease. The delivery of keys to any
employee of Landlord or of Landlord's agent shall not operate as a termination
of this Lease or a surrender of the demised premises. In the event of Tenant at
any time desiring to have Landlord sublet the premises for Tenant's account,
Landlord or Landlord's agents are authorized to receive said keys for such
purpose without releasing Tenant from any of the obligations under this Lease.
The failure of Landlord to seek redress for violation of, or to insist upon the
strict performance of, any covenant or condition of this Lease or any of the
Rules and Regulations set forth herein, or hereafter adopted by Landlord, shall
not prevent a subsequent act, which would have originally constituted a
violation, from having all the force and effect of an original violation. The
receipt by Landlord of rent with or without knowledge of the breach of any
covenant of this Lease shall not be deemed a waiver of such breach. The failure
of

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<PAGE>

Landlord to enforce any of the Rules and Regulations set forth herein, or
hereafter adopted, against Tenant and/or any other tenant in the Building shall
not be deemed a waiver of any such Rules and Regulations. No provision of this
Lease shall be deemed to have been waived by Landlord, unless such waiver be in
writing signed by Landlord. No payment by Tenant or receipt by Landlord of a
lesser amount than the monthly rent herein stipulated shall be deemed to be
other than on the account of the earliest stipulated rent, nor shall any
endorsement or statement on any check or any letter accompanying any check or
payment of rent be deemed an accord and satisfaction, and Landlord may accept
such check or payment without prejudice to Landlord's right to recover the
balance of such rent or pursue any other remedy in this Lease provided.

                  32.02    This Lease contains the entire agreement between the
parties, and any executory agreement hereafter made shall be ineffective to
change, modify, discharge or effect an abandonment of it in whole or in part
unless such executory agreement is in writing and signed by the party against
whom enforcement of the change, modification, discharge or abandonment is
sought.

                                   ARTICLE 33

                                    CAPTIONS

                  33.01    The captions are inserted only as a matter of
convenience and for reference, and in no way define, limit or describe the scope
of this Lease nor the intent of any provision thereof.

                                   ARTICLE 34

                              INABILITY TO PERFORM

                  34.01    If, by reason of (1) strike, (2) labor troubles, (3)
governmental pre-emption in connection with a national emergency, (4) any rule,
order or regulation of any governmental agency, (5) conditions of supply or
demand which are affected by war or other national, state or municipal
emergency, or any other cause or (6) any cause beyond Landlord's reasonable
control, Landlord shall be unable to fulfill its obligations under this Lease or
shall be unable to supply any service which Landlord is obligated to supply,
Landlord shall have no liability therefor and this Lease and Tenant's obligation
to pay rent hereunder shall in no wise be affected, impaired or excused.

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                                   ARTICLE 35

                         NO REPRESENTATIONS BY LANDLORD

                  35.01    Landlord or Landlord's agents have made no
representations or promises with respect to the Building or demised premises
except as herein expressly set forth.

                                   ARTICLE 36

                                NAME OF BUILDING

                  36.01    Landlord shall have the full right at any time to
name and change the name of the Building and to change the designated address of
the Building. The Building may be named after any person, firm, or otherwise,
whether or not such name is, or resembles, the name of a tenant of the Building.

                                   ARTICLE 37

                              RESTRICTIONS UPON USE

                  37.01    It is expressly understood that no portion of the
demised premises shall be used as, by or for (i) a bank, trust company, savings
bank, industrial bank, savings and loan association or personal loan bank (or
any branch office or public accommodation office of any of the foregoing), or
(ii) a public stenographer or typist, barber shop, beauty shop, beauty parlor or
shop, telephone or telegraph agency, telephone or secretarial service, messenger
service, travel or tourist agency, employment agency, public restaurant or bar,
commercial document reproduction or offset printing service, public vending
machines, retail, wholesale or discount shop for sale of merchandise, retail
service shop, labor union, school or classroom, governmental or
quasi-governmental bureau, department or agency, including an autonomous
governmental corporation, an advertising agency, a firm whose principal business
is real estate brokerage, or a company engaged in the business of renting office
or desk space, provided Tenant shall be permitted to maintain certain of these
foregoing services for the demised premises for the sole benefit of Tenant's
officers and employees.

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                                   ARTICLE 38

                                   ARBITRATION

                  38.01    In each case specified in this Lease in which resort
to arbitration shall be required, such arbitration (unless otherwise
specifically provided in other Sections of this Lease) shall be in New York City
in accordance with the Commercial Arbitration Rules of the American Arbitration
Association and the provisions of this Lease. The decision and award of the
arbitrators shall be in writing, shall be final and conclusive on the parties,
and counterpart copies thereof shall be delivered to each of the parties. In
rendering such decision and awards, the arbitrators shall not add to, subtract
from or otherwise modify the provisions of this Lease. Judgment may be had on
the decision and award of the arbitrators so rendered in any court of competent
jurisdiction.

                                   ARTICLE 39

                                    INDEMNITY

                  39.01    Tenant shall indemnify, defend and save Landlord, its
agents and employees and any mortgagee of Landlord's interest in the Land and/or
the Building and any lessor under any superior lease harmless from and against
any liability or expense arising from the use or occupation of the demised
premises by Tenant or anyone in the demised premises with Tenant's permission,
or from any breach of this Lease by Tenant.

                  39.02    Landlord shall indemnify, defend and save Tenant, its
agents and employees harmless from and against any liability or expense arising
from the negligence or willful misconduct of Landlord or its agents or
employees. Tenant shall promptly notify Landlord of any such claim and Tenant
shall cooperate with Landlord with respect to any such defense.

                                   ARTICLE 40

                               MEMORANDUM OF LEASE

                  40.01    Tenant shall, at the request of Landlord execute and
deliver a statutory form of memorandum of this Lease for the purpose of
recording, but said memorandum of this Lease shall not in any circumstances be
deemed to modify or to change any of the provisions of this Lease. In no event
shall Tenant record this Lease or a memorandum thereof.

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                                   ARTICLE 41

                                  MISCELLANEOUS

                  41.01    Irrespective of the place of execution or
performance, this Lease shall be governed and construed in accordance with the
laws of the State of New York.

                  41.02    This Lease shall be construed without regard to any
presumption or other rule requiring construction against the party causing this
Lease to be drafted.

                  41.03    Except as otherwise expressly provided in this Lease,
each covenant, agreement, obligation or other provision of this Lease on
Tenant's part to be performed shall be deemed and construed as a separate and
independent covenant of Tenant, not dependent on any other provision of this
Lease.

                  41.04    All terms and words used in this Lease, regardless of
the number or gender in which they are used, shall be deemed to include any
other number and any other gender as the context may require.

                  41.05    Time shall be of the essence with respect to the
exercise of any option granted under this Lease.

                  41.06    Except as otherwise provided herein whenever payment
of interest is required by the terms hereof it shall be at the Interest Rate.

                  41.07    In the event that Tenant is in arrears in payment of
fixed annual rent or additional rent hereunder, Tenant waives Tenant's right, if
any, to designate the items against which any payments made by Tenant are to be
credited, and Tenant agrees that Landlord may apply any payments made by Tenant
to any items it sees fit, irrespective of and notwithstanding any designation or
request by Tenant as to the items against which any such payments shall be
credited.

                  41.08    This Lease shall not be binding upon Landlord until
the same is executed by Landlord and Tenant and an executed copy thereof has
been delivered to Tenant.

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                                   ARTICLE 42

                                SECURITY DEPOSIT

                  42.01    Tenant shall simultaneously upon execution of this
Lease deliver to Landlord and, shall, except as otherwise provided herein,
maintain in effect at all times during the term hereof, an irrevocable letter of
credit, in the form annexed hereto as Exhibit D and in the amount of $2,000,000
as security for the faithful performance and observance by Tenant of the terms,
provisions, covenants and conditions of this Lease. Such letter of credit shall
be issued by a banking corporation reasonably satisfactory to Landlord and
having its principal place of business or its duly licensed branch or agency in
the State of New York. Such letter of credit shall have an expiration date no
earlier than the first anniversary of the date of issuance thereof and shall be
automatically renewed from year to year unless terminated by the issuer thereof
by notice to Landlord given not less than forty-five (45) days prior to the
expiration thereof. Except as otherwise provided herein, Tenant shall,
throughout the term of this Lease, deliver to Landlord, in the event of the
termination of any such letter of credit, replacement letters of credit in lieu
thereof (each such letter of credit and such extensions or replacements thereof,
as the case may be, is hereinafter referred to as a "Security Letter") no later
than forty-five (45) days prior to the expiration date of the preceding Security
Letter. The term of each such Security Letter shall be not less than one (1)
year and shall be automatically renewable from year to year as aforesaid. If
Tenant shall fail to obtain any replacement of a Security Letter within the time
limits set forth in this Section 42.01, Landlord may draw down the full amount
of the existing Security Letter and retain the same as security hereunder.

                  42.02    In the event Tenant defaults in respect to any of the
terms, provisions, covenants and conditions of this Lease after the expiration
of applicable notice and cure periods, including, but not limited to, the
payment of rent and additional rent, Landlord may draw upon the Security Letter
to the extent required for the payment of any rent and additional rent or any
other sum as to which Tenant is in default or for any sum which Landlord may
expend or may be required to expend by reason of Tenant's default in respect of
any of the terms, provisions, covenants, and conditions of this Lease, including
but not limited to, any damages or deficiency accrued before or after summary
proceedings or other reentry by Landlord. To insure that Landlord may utilize
the security represented by the Security Letter in the manner, for the purpose,
and to the extent provided in this Article, each Security Letter shall provide
that the full amount thereof may be drawn down by Landlord upon the presentation
to the issuing bank of Landlord's draft drawn on the issuing bank without
accompanying memoranda on statement of beneficiary.

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<PAGE>

                  42.03    In the event Landlord draws any portion or all of the
security delivered hereunder, Tenant shall forthwith restore the amount so
applied or retained by providing a supplemental Security Letter so that at all
times the amount deposited shall be not less than the security required by
Section 42.01 hereof.

                  42.04    In the event that Tenant shall fully and faithfully
comply with all of the terms, provisions, covenants and conditions of this Lease
and shall not have been in monetary default hereunder more than two (2) times in
any given year or more than four (4) times in the aggregate, the security shall
be reduced after the fifth (5th) anniversary of the Rent Commencement Date to
One Million Dollars ($1,000,000). Tenant agrees that if at any time after the
reduction of security pursuant to this Section 42.04 (if any) Tenant shall
default more than two (2) times in any given year or more than four (4) times in
the aggregate, under this Lease, Tenant shall restore the security to Two
Million Dollars ($2,000,000). Tenant agrees that on each anniversary of the date
hereof, Tenant shall deliver to Landlord an unconditional audited financial
statement of Tenant for the prior year evidencing Tenant's tangible net worth,
prepared in accordance with GAAP, consistently applied from period to period, by
an independent certified public accounting firm acceptable to Landlord (an
"Acceptable Firm"). Landlord hereby agrees that PricewaterhouseCoopers LLP or
another so-called "Big 5" accounting firm shall be deemed acceptable to
Landlord.

                  42.05    In the event that Tenant shall fully and faithfully
comply with all of the terms, provisions, covenants and conditions of this
Lease, the security shall be returned to Tenant within thirty (30) days after
the date fixed as the end of the Lease and after delivery of entire possession
of the demised premises to Landlord. In the event of a sale of the Land and
Building or leasing of the Building, Landlord shall have the right to transfer
any interest it may have in the Security Letter to the vendee or lessee and
Landlord shall thereupon be released by Tenant from all liability for the return
of such Security Letter, provided such vendee or lessee assumes any
responsibilities of Landlord with respect to such Security Letter, and Tenant
agrees to look solely to the new landlord for the return of said Security
Letter; and it is agreed that the provisions hereof shall apply to every
transfer or assignment made of the Security Letter to a new landlord. Tenant
further covenants that it will not assign or encumber or attempt to assign or
encumber the monies deposited herein as security and that neither Landlord nor
its successors or assigns shall be bound by any such assignment, encumbrance,
attempted assignment or attempted encumbrance. In the event of a sale of the
Building Landlord shall have the right to require Tenant to deliver a
replacement Security Letter naming the new landlord as beneficiary and, if
Tenant shall fail to timely deliver the same, to draw down the existing Security
Letter and retain the proceeds as security hereunder until a replacement
Security Letter is delivered.

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                                   ARTICLE 43

                                   PARTNERSHIP

                  43.01    If Tenant is a partnership, the liability of each of
the partners comprising the partnership Tenant shall be joint and several. The
technical dissolution of Tenant by reason of the death, retirement, resignation,
bankruptcy or adjudication of incompetency of one or more partners, shall not
affect this Lease or the liability thereunder of the partners, and Tenant agrees
that the partnership shall nevertheless continue as Tenant with respect to the
remaining partners. Similarly, a merger or consolidation with another firm shall
not be deemed a sublease or assignment or a violation of the provisions of this
Lease.

                  43.02    Upon execution of this Lease by Landlord and Tenant
shall promptly deliver to Landlord a list of the names and residence addresses
of all existing partners comprising the partnership Tenant. In the event Tenant
admits any new partners, Tenant agrees, within thirty (30) days thereafter, to
give notice to Landlord of that fact and of the name and residence address of
each new partner, together with such reasonable proof as Landlord shall require
that all of such new partners have in writing assumed performance of Tenant's
obligations under this Lease.

                  43.03    In the event of a merger or consolidation, Tenant
agrees, within thirty (30) days thereafter, to give notice to Landlord of that
fact and all of the names and residence addresses of the partners of the merged
or consolidated firm, together with such reasonable proof as Landlord shall
require that all of such partners have in writing assumed performance of
Tenant's obligations under this Lease.

                                   ARTICLE 44

                                    SUBLEASE

                  44.01    Notwithstanding anything to the contrary contained
herein, Tenant acknowledges that this Lease is a sublease of the demised
premises and is subject and subordinate to all of the terms, covenants,
conditions, agreements and provisions in the lease dated May 1, 1957 between
Prudential Insurance Company of America, as landlord and Landlord's
predecessor-in-interest, as tenant, and in the sublease dated June 27, 1958
between 500-512 Seventh Avenue Associates, as sublessor and Landlord's
predecessor-in-interest (such lease and sublease as the same has been amended
and assigned are hereinafter severally

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<PAGE>

and collectively called the "Superior Documents"). Landlord warrants and
represents that nothing in the Superior Documents prohibits the making of this
Lease or the terms thereof and that the Superior Documents are in full force and
effect.

                  44.02    Landlord and Tenant agree that the leasehold estate
created by this Lease shall not merge with any other estate held by Landlord or
an affiliate of Landlord in the property of which the demised premises form a
part or any other interest of Landlord in the demised premises and the Building,
unless Landlord shall expressly elect to have such estates merge.

                                   ARTICLE 45

                           FAILURE TO GIVE POSSESSION

                  45.01    (a)      Notwithstanding anything to the contrary
contained in this Lease, Tenant acknowledges that it has been advised by
Landlord that certain portions of the demised premises initially demised to
Tenant hereunder which are designated "Occupied" on Exhibit A-1 annexed hereto
(such space is hereinafter called "Occupied Space") are currently under lease
and/or occupied by tenants. For purposes of this Lease, (i) the Occupied Space
shall be deemed to be comprised of 7,171 rentable square feet and (ii) Tenant's
Proportionate Share allocable to the Occupied Space shall be deemed to be one
and eighteen hundredths percent (1.18%). Tenant agrees that the term of this
Lease shall commence on the date hereof notwithstanding Landlord's inability to
deliver to Tenant on the Commencement Date vacant possession of the Occupied
Premises. Except as otherwise expressly set forth in this Lease, Tenant shall
have no claim against Landlord, and Landlord shall have no liability to Tenant
by reason of the delivery of possession of the Occupied Space to Tenant after
the Commencement Date. The parties hereto further agree that the failure to have
the Occupied Space available for occupancy by Tenant on the Commencement Date
shall in no way affect the obligations of Tenant hereunder except as hereinafter
expressly set forth, nor shall the same be construed in any way to extend the
term of this Lease. Landlord agrees to use reasonable efforts to obtain
possession of the Occupied Space, including, without limitation, where
applicable, the institution and diligent prosecution of holdover proceedings, in
the event of a holdover. This Section 45.01 shall be deemed to be an express
provision to the contrary of Section 223-a of the Real Property Law of the State
of New York and any other law of like import now or hereafter in force.

                           (b)      If Landlord shall not have delivered vacant
possession of the Occupied Space to Tenant on or before January 1, 2001 with all
of the Landlord's

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work specified in Section 2.01 completed, then Tenant shall, as its sole remedy
therefor, have the right exercisable by February 1, 2001 (TIME BEING OF THE
ESSENCE) to surrender and terminate any rights it then or hereinafter may have
in and to the Occupied Space, as herein provided, by written notice (the
"Occupied Space Notice") to Landlord. If Tenant fails to send the Occupied Space
Notice to Landlord on or before February 1, 2001, Tenant shall no longer have a
right to surrender and terminate its rights in and to the Occupied Space. If
Tenant shall send the Occupied Space Notice prior to February 1, 2001, then
Landlord shall have no further rights to include the Occupied Space as the
demised premises under this Lease and this Lease shall, without further action
on the part of either party hereto, be deemed appropriately modified and the
fixed rent and additional rent shall be appropriately adjusted; except that,
upon request of either party hereto, the parties shall execute and deliver an
amendment to this Lease memorializing the foregoing.

                           (c)      There shall be no fixed rent or additional
rent payable with respect to any portion of the Occupied Space until the later
of (i) November 1, 2000, or (ii) the date which is three (3) months after the
date such portion of such Occupied Space shall be delivered to Tenant vacant
with the items of Landlord's Work specified in Section 2.01 completed.

                  45.02    Without limiting anything contained in Section 45.01
above, if the demised premises shall not be available for occupancy by Tenant on
the date hereinbefore designated for the commencement of the term of this Lease
or if any additional space to be included within the demised premises shall not
be available for occupancy by Tenant on the date hereinafter designated for the
inclusion of such space for any reason whatsoever, then this Lease shall not be
affected thereby but, in such case, said specific date shall be deemed to be
postponed until the date when the demised premises or such additional space
shall be available for occupancy by Tenant, and Tenant shall not be entitled to
possession of the demised premises or such additional space until the same are
available for occupancy by Tenant, provided, however, that Tenant shall have no
claim against Landlord, and Landlord shall have no liability to Tenant by reason
of any such postponement of said specific date, and the parties hereto further
agree that any failure to have the demised premises or such additional space
available for occupancy by Tenant on said specific date or on the Commencement
Date shall in no wise affect the obligations of Tenant hereunder nor shall the
same be construed in any wise to extend the term of this Lease unless
specifically provided to the contrary herein and furthermore, this Section 45.02
shall be deemed to be an express provision to the contrary of Section 223-a of
the Real Property Law of the State of New York and any other law of like import
now or hereafter in force. Notwithstanding the foregoing, Landlord shall,
subject to force majeure, deliver possession of the entirety of the demised
premises, except the Occupied Space, on the date hereof.

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                                   ARTICLE 46

                              INTENTIONALLY OMITTED

                                   ARTICLE 47

                              FIRST OFFERING SPACE

                  47.01    (a)      For purposes of this Lease, the term "First
Offering Space A" shall mean a portion of the seventeenth (17th) floor of the
Building as shown hatched on the plan annexed hereto as Exhibit E-1; the term
"First Offering Space B" shall mean the entire sixteenth (16th) floor of the
Building as shown on the plan annexed hereto as Exhibit E-2; and the term "First
Offering Space C" shall mean a portion of the eighteenth (18th) floor of the
Building as shown hatched on the plan annexed hereto as Exhibit E-3.

                           (b)      Provided (i) Tenant is not, and has not been
in default beyond any applicable notice and cure periods under the terms and
conditions of this Lease either as of the date of the giving of "Tenant's First
Notice A" or the "First Offering Space A Inclusion Date" (as such terms are
hereinafter defined) and (ii) as of either the date of the giving of Tenant's'
First Notice A or the First Offering Space A Inclusion Date, the Tenant is in
actual occupancy of not less than one hundred percent (100%) of the demised
premises, if at any time during the term of this Lease Landlord anticipates that
First Offering Space A shall become available for leasing within the following
twelve (12) months to anyone other than a "Superior Occupant" as that term is
hereinafter defined), then Landlord, before leasing such First Offering Space A
to anyone other than a Superior Occupant, shall offer to Tenant, subject to the
provisions of this Article 47, the right to include First Offering Space A
within the demised premises upon all the terms and conditions of this Lease
(including the provisions of Article 3 with the base year periods specified
therein but excluding Articles 2 and 50 hereof), except that:

                           (i)      the fixed annual rent with respect to the
         First Offering Space A shall be at the higher of (x) the fair market
         rent for the First Offering Space A, which shall be determined by
         Landlord as of the date occurring thirty (30) days prior to the First
         Offering Space A Inclusion Date (as such term is hereinafter defined)
         taking into account all then relevant factors and shall be set forth in
         a written notice to Tenant, or (y) the product obtained by multiplying
         (A) the monthly amount of fixed annual rent (determined on a rentable
         square foot basis) for the last full calendar month prior to the First
         Offering Space A Inclusion Date (as hereinafter defined) computed on an
         annualized basis without giving effect to any abatement,

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         credit or offset in effect, by (B) 12, and by (C) the amount of
         rentable square feet included within the First Offering Space A
         (hereinafter called the "First Offering Space A Escalated Rent");

                           (ii)     effective as of the First Offering Space A
         Inclusion Date for purposes of calculating the additional rent payable
         pursuant to Article 3 allocable to the First Offering Space A, Tenant's
         Proportionate Share shall be increased by a fraction, expressed as a
         percentage, the numerator of which shall be the number of rentable
         square feet included within the First Offering Space A, and the
         denominator of which shall be 605,574;

                           (iii)    the term "Wage Rate Multiple" shall be
         increased by the number of rentable square feet of the First Offering
         Space A; and

                           (iv)     the security required to be maintained
         pursuant to Article 42 hereof shall be increased by an amount equal to
         the fixed annual rent for the First Offering Space A.

For the purposes of this Section 47.01(b), the term "Tenant" shall mean either
the Tenant on the date hereof or such other entity becoming an occupant
hereunder pursuant to either Section 11.02 or 11.10 above.

                           (c)      Such offer shall be made by Landlord to
Tenant in a written notice (hereinafter called the "First Offer Notice A") which
offer shall specify the fixed annual rent payable with respect to the First
Offering Space A, determined in accordance with the provisions of subsection (b)
hereof.

                           (d)      Tenant may accept the offer set forth in the
First Offer Notice A by delivering to Landlord an unconditional acceptance
(hereinafter called "Tenant's First Notice A") of such offer within ten (10)
Business Days after delivery by Landlord of the First Offer Notice A to Tenant.
Such First Offering Space A shall be added to and included in the demised
premises on the later to occur (herein called the "First Offering Space A
Inclusion Date") of (i) the day that Tenant exercises its option as aforesaid,
or (ii) the date such First Offering Space A shall become available for Tenant's
possession. Time shall be of the essence with respect to the giving of Tenant's
First Notice.

                           (e)      If Tenant does not accept (or fails to
timely accept) an offer made by Landlord pursuant to the provisions of this
Article 47 with respect to all or any portion of the First Offering Space A, (i)
Tenant shall have no further right under this Article 47 to lease all or any
part of the First Offering Space A, and (ii) Landlord shall have no further
obligations under this Article 47, which shall be deemed null and void.

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                  47.02    (a)      Provided (i) Tenant is not, and has not been
in default beyond applicable notice and cure periods under the terms and
conditions of this Lease either as of the date of the giving of "Tenant's First
Notice B" or the "First Offering Space B Inclusion Date" (as such terms are
hereinafter defined) and (ii) as of either the date of the giving of Tenant's,
First Notice B or the First Offering Space B Inclusion Date, the Tenant is in
actual occupancy of not less than one, hundred percent (100%) of the demised
premises, if at any time during the term of this Lease Landlord anticipates that
all or a portion of the First Offering Space B shall become available for
leasing within the following twelve (12) months to anyone other than a "Superior
Occupant" as that term is hereinafter defined), then Landlord, before leasing
such First Offering Space B to anyone other than a Superior Occupant, shall
offer to Tenant, subject to the provisions of this Article 47, the right to
include all or a portion of (at Landlord's option) First Offering Space B within
the demised premises upon all the terms and conditions of this Lease (including
the provisions of Article 3 with the base year periods specified therein but
excluding Articles 2 and 50 hereof), except that:

                           (i)      the fixed annual rent with respect to the
         First Offering Space B shall be at the higher of (x) the fair market
         rent for the First Offering Space B, which shall be determined by
         Landlord as of the date occurring thirty (30) days prior to the First
         Offering Space B Inclusion Date (as such term is hereinafter defined)
         taking into account all then relevant factors and shall be set forth in
         a written notice to Tenant, or (y) the product obtained by multiplying
         (A) the monthly amount of fixed annual rent (determined on a rentable
         square foot basis) for the last full calendar month prior to the First
         Offering Space B Inclusion Date (as hereinafter defined) computed on an
         annualized basis without giving effect to any abatement, credit or
         offset in effect, by (B) 12, and by (C) the amount of rentable square
         feet included within the First Offering Space (hereinafter called the
         "First Offering Space B Escalated Rent");

                           (ii)     effective as of the First Offering Space B
         Inclusion Date for purposes of calculating the additional rent payable
         pursuant to Article 3 allocable to the First Offering Space B, Tenant's
         Proportionate Share shall be increased by a fraction, expressed as a
         percentage, the numerator of which shall be the number of rentable
         square feet included within the First Offering Space B, and the
         denominator of which shall be 605,574;

                           (iii)    the term "Wage Rate Multiple" shall be
         increased by the number of rentable square feet of the First Offering
         Space B; and

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                           (iv)     the security required to be maintained
         pursuant to Article 42 hereof shall be increased by an amount equal to
         the fixed annual rent for the First Offering Space B.

For the purposes of this Section 47.02(a); the term "Tenant" shall mean either
the Tenant on the date hereof or such other entity becoming an occupant
hereunder pursuant to either Section 11.02 or 11.10 above.

                           (b)      Such offer shall be made by Landlord to
Tenant in a written notice (hereinafter called the "First Offer Notice B") which
offer shall specify the fixed annual rent payable with respect to the First
Offering Space B, determined in accordance with the provisions of subsection (i)
hereof.

                           (c)      Tenant may accept the offer set forth in the
First Offer Notice B by delivering to Landlord an unconditional acceptance
(hereinafter called "Tenant's First Notice B") of such offer within ten (10)
Business Days after delivery by Landlord of the First Offer Notice B to Tenant.
Such First Offering Space B shall be added to and included in the demised
premises on the later to occur (herein called the "First Offering Space B
Inclusion Date") of (i) the day that Tenant exercises its option as aforesaid,
or (ii) the date such First Offering Space B shall become available for Tenant's
possession. Time shall be of the essence with respect to the giving of Tenant's
First Notice B.

                           (d)      If Tenant does not accept (or fails to
timely accept) an offer made by Landlord pursuant to the provisions of this
Article 47 with respect to all or any portion of the First Offering Space B, (i)
Tenant shall have no further right under this Article 47 to lease all or any
part of the First Offering Space B, and (ii) Landlord shall have no further
obligations under this Article 47, which shall be deemed null and void.

                  47.03    (a)      Provided (i) Tenant is not, and has not been
in default beyond applicable notice and cure periods under the terms and
conditions of this Lease either as of the date of the giving of "Tenant's First
Notice C" or the "First Offering Space C Inclusion Date" (as such terms are
hereinafter defined) and (ii) as of either the date of the giving of Tenant's
First Notice C or the First Offering Space C Inclusion Date, the Tenant is in
actual occupancy of not less than one hundred percent (100%) of the demised
premises, if at any time during the term of this Lease Landlord anticipates that
First Offering Space C shall become available for leasing within the following
twelve (12) months to anyone other than a "Superior Occupant" as that term is
hereinafter defined), then Landlord, before leasing such First Offering Space C
to anyone other than a Superior Occupant, shall offer to Tenant, subject to the
provisions of this Article 47, the right to include First Offering Space C
within the demised premises upon all the terms and conditions of this

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Lease (including the provisions of Article 3 with the base year periods
specified therein but excluding Articles 2 and 50 hereof), except that:

                           (i)      the fixed annual rent with respect to the
         First Offering Space C shall be at the higher of (x) the fair market
         rent for the First Offering Space C, which shall be determined by
         Landlord as of the date occurring thirty (30) days prior to the First
         Offering Space C Inclusion Date (as such term is hereinafter defined)
         taking into account all then relevant factors and shall be set forth in
         a written notice to Tenant, or (y) the product obtained by multiplying
         (A) the monthly amount of fixed annual rent (determined on a rentable
         square foot basis) for the last full calendar month prior to the First
         Offering Space C Inclusion Date (as hereinafter defined) computed on an
         annualized basis without giving effect to any abatement, credit or
         offset in effect, by (B) 12, and by (C) the amount of rentable square
         feet included within the First Offering Space (hereinafter called the
         "First Offering Space C Escalated Rent");

                           (ii)     effective as of the First Offering Space C
         Inclusion Date for purposes of calculating the additional rent payable
         pursuant to Article 3 allocable to the First Offering Space C, Tenant's
         Proportionate Share shall be increased by a fraction, expressed as a
         percentage, the numerator of which shall be the number of rentable
         square feet included within the First Offering Space B, and the
         denominator of which shall be 605,574;

                           (iii)    the term "Wage Rate Multiple" shall be
         increased by the number of rentable square feet of the First Offering
         Space C; and

                           (iv)     the security required to be maintained
         pursuant to Article 42 hereof shall be increased by an amount equal to
         the fixed annual rent for the First Offering Space C.

For the purposes of this Section 47.03(a), the term "Tenant" shall mean either
the Tenant on the date hereof or such other entity becoming an occupant
hereunder pursuant to either Section 11.02 or 11.10 above.

                           (b)      Such offer shall be made by Landlord to
Tenant in a written notice (hereinafter called the "First Offer Notice C") which
offer shall specify the fixed annual rent payable with respect to the First
Offering Space C, determined in accordance with the provisions of subsection (i)
hereof.

                           (c)      Tenant may accept the offer set forth in the
First Offer Notice C by delivering to Landlord an unconditional acceptance
(hereinafter called "Tenant's First Notice C") of such offer within ten (10)
Business Days after

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delivery by Landlord of the First Offer Notice C to Tenant. Such First Offering
Space C shall be added to and included in the demised premises on the later to
occur (herein called the "First Offering Space C Inclusion Date") of (i) the day
that Tenant exercises its option as aforesaid, or (ii) the date such First
Offering Space C shall become available for Tenant's possession. Time shall be
of the essence with respect to the giving of Tenant's First Notice C.

                           (d)      If Tenant does not accept (or fails to
timely accept) an offer made by Landlord pursuant to the provisions of this
Article 47 with respect to all or any portion of the First Offering Space C, (i)
Tenant shall have no further right under this Article 47 to lease all or any
part of the First Offering Space C, and (ii) Landlord shall have no further
obligations under this Article 47, which shall be deemed null and void.

                  47.04    In the event that Tenant disputes the amount of the
fair market rent specified in the First Offer Notice A and/or First Offer Notice
B and/or First Offer Notice C, as applicable, then at any time on or before the
date occurring ten (10) Business Days after Tenant has received the First Offer
Notice A and/or First Offer Notice B and/or First Offer Notice C, as applicable,
and provided that Tenant shall have given Tenant's First Notice A and/or
Tenant's First Notice B and/or Tenant's First Notice C, as applicable, Tenant
may initiate the arbitration process provided for herein by giving notice to
that effect to Landlord, and, if Tenant so initiates the arbitration process,
such notice shall specify the name and address of the person designated to act
as an arbitrator on its behalf. Within ten (10) Business Days after the
Landlord's receipt of notice of the designation of Tenant's arbitrator, Landlord
shall give notice to Tenant specifying the name and address of the person
designated to act as an arbitrator on its behalf. If Landlord fails to notify
Tenant of the appointment of its arbitrator within the time above specified,
then Tenant shall provide an additional notice to Landlord requiring Landlord's
appointment of an arbitrator within two (2) Business Days after Landlord's
receipt thereof. If Landlord fails to notify Tenant of the appointment of its
arbitrator within the time specified by the second notice, the appointment of
the second arbitrator shall be made in the same manner as hereinafter provided
for the appointment of a third arbitrator in a case where the two arbitrators
appointed hereunder and the parties are unable to agree upon such appointment.
The two arbitrators so chosen shall meet within ten (10) Business Days after the
second arbitrator is appointed, and if, within fifteen (15) Business Days after
the second arbitrator is appointed, the two arbitrators shall not agree upon a
determination of the fair market rent for the First Offering Space A and/or
First Offering Space B and/or First Offering Space C, as applicable, they shall
together appoint a third arbitrator. In the event of their being unable to agree
upon such appointment within ten (10) Business Days after the appointment of the
second arbitrator, the third arbitrator shall be selected by the parties
themselves if they can agree thereon within a further period of five (5)

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Business Days. If the parties do not so agree, then either party, on behalf of
both and on notice to the other, may request such appointment by the American
Arbitration Association (or any organization successor thereto) in accordance
with its rules then prevailing or if the American Arbitration Association (or
such successor organization) shall fail to appoint said third arbitrator within
five (5) Business Days after such request is made, then either party may apply,
on notice to the other, to the Supreme Court, New York County, New York (or any
other court having jurisdiction and exercising functions similar to those now
exercised by said Court) for the appointment of such third arbitrator. The third
arbitrator shall determine the fair market rent for the First Offering Space A
and/or First Offering Space B and/or First Offering Space C, as applicable, and
render a written certified report of its determination to both Landlord and
Tenant within fifteen (15) Business Days of the appointment of the first two
arbitrators or fifteen (15) Business Days from the appointment of the third
arbitrator if such third arbitrator is appointed pursuant to this Section 47.04,
and the determination of Landlord's or Tenant's arbitrator which is closest to
the determination of the third arbitrator, shall be applied to determine as
above provided, however, in no event shall the fixed annual rent with respect to
the First Offering Space A and/or First Offering Space B and/or First Offering
Space C, as applicable, be less than the First Offering Space A Escalated Rent
and/or First Offering Space B Escalated Rent and/or First Offering Space C
Escalated Rent, as applicable.

                           (a)      Each party shall pay the fees and expenses
of the one of the two original arbitrators appointed by or for such party, and
the fees and expenses of the third arbitrator and all other expenses (not
including the attorneys' fees, witness fees and similar expenses of the parties
which shall be borne separately by each of the parties) of the arbitration shall
be borne by the parties equally.

                           (b)      Each of the arbitrators selected as herein
provided shall have at least ten (10) years' experience in the leasing and
renting of office space in Midtown Manhattan.

                           (c)      If Tenant fails to initiate the arbitration
process within the aforesaid ten (10) Business Day period, time being of the
essence, then Landlord's determination of the fixed annual rent set forth in the
First Offer Notice A and/or First Offer Notice B and/or First Offer Notice C, as
applicable, shall be conclusive. In the event Landlord notifies Tenant that the
fixed annual rent for the First Offering Space A and/or First Offering Space B
and/or First Offering Space C, as applicable, shall be the First Offering Space
A Escalated Rent and/or First Offering Space B Escalated Rent and/or First
Offering Space C Escalated Rent, as applicable, then the provisions of this
Section 47.04 shall be inapplicable.

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                           (d)      In the event the Tenant initiates the
aforesaid arbitration process and, as of the First Offering Space A Inclusion
Date and/or First Offering Space B Inclusion Date and/or First Offering Space C
Inclusion Date, as applicable, the amount of the fair market rent has not been
determined, Tenant shall pay the amount determined by Landlord to be the fair
market rent for the First Offering Space A and/or First Offering Space B and/or
First Offering Space C, as applicable, and when the determination has actually
been made, an appropriate retroactive adjustment shall be made as of the First
Offering Space A Inclusion Date and/or First Offering Space B Inclusion Date
and/or First Offering Space C Inclusion Date, as applicable.

                           (e)      The provisions of this Article 47 shall be
effective only if, on the date on which Tenant accepts possession of the First
Offering Space A and/or First Offering Space B and/or First Offering Space C, as
applicable, the Tenant is in actual occupancy of the entire demised premises.
For the purposes of this Section 47.04(e), the term "Tenant" shall mean either
the Tenant on the date hereof or such other entity becoming an occupant herewith
pursuant to either Section 11.02 or 11.10 above.

                           (f)      Tenant agrees to accept the First Offering
Space A and/or First Offering Space B and/or First Offering Space C, as
applicable, in its condition and state of repair existing as of the First
Offering Space A Inclusion Date and/or First Offering Space B Inclusion Date
and/or First Offering Space C Inclusion Date, as applicable, and understands and
agrees that Landlord shall not be required to perform any work, supply any
materials or incur any expense to prepare such space for Tenant's occupancy.

                           (g)      The fixed annual rent for the First Offering
Space A and/or First Offering Space B and/or First Offering Space C, as
applicable, as determined pursuant to this Article 47 shall be subject to
periodic increases for any period during the term of this Lease for which such
fixed annual rent would otherwise be less (on a per rentable square foot basis)
than the fixed annual rent payable pursuant to Section 1.01 hereof (on a per
rentable square foot basis) for such period, so that the fixed annual rent
payable during such periods with respect to the First Offering Space A and/or
First Offering Space B and/or First Offering Space C, as applicable, shall be
equal (on a per rentable square foot basis) to the fixed annual rent payable
pursuant to Section 1.01 hereof during such periods.

                  47.05    The term "Superior Occupant" shall mean for the
purposes of this Article 47, any tenant of the First Offering Space A and/or
First Offering Space B and/or First Offering Space C, as applicable, or any
subsidiary or affiliate thereof or any other person or entity to which Landlord
prior to the Commencement Date, shall have granted any option, right of first
offer or other right to lease or occupy the

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First Offering Space A and/or First Offering Space B and/or First Offering Space
C, as applicable.

                                   ARTICLE 48

                            EXTENSION OF TERM OPTION

                  48.01    (a)      Subject to the provisions of subsection (k)
hereof, Tenant shall have the right to extend the term of this Lease for one (1)
additional term of five (5) years commencing on the day following the Expiration
Date (hereinafter referred to as the "Commencement Date of the Extension Term")
and ending on the last day of the calendar month in which occurs the day
preceding the fifth (5th) anniversary of the Commencement Date of the Extension
Term (such additional term is hereinafter called the "Extension Term") provided
that:

                                    (i)      Tenant shall give Landlord notice
         (hereinafter called the "Extension Notice") of its election to extend
         the term of this Lease at least twelve (12) months prior to the
         Expiration Date, and

                                    (ii)     Tenant is not in default under this
         Lease, and has not been in monetary default beyond any applicable
         notice end cure periods more than two (2) times per annum or more than
         four (4) times during the initial term of this Lease as of the time of
         the giving of the Extension Notice and as of the Commencement Date of
         the Extension Term, and

                                    (iii)    as of the time of the giving of the
         Extension Notice and as of the Commencement Date of the Extension Term,
         the Tenant named herein is in actual occupancy of not less than one
         hundred percent (100%) of the demised premises (including any
         additional space in the Building leased by Tenant after the
         Commencement Date). For the purposes of this Section 48.01 (a)(iii),
         the term "Tenant" shall mean either the Tenant on the date hereof or
         such other entity becoming an occupant herewith pursuant to either
         Section 11.02 or 11.10 above.

                           (b)      The fixed annual rent payable by Tenant to
Landlord during the Extension Term shall be the higher of:

                                    (i)      the fair market rent for the
         demised premises determined as of the date occurring six (6) months
         prior to the Commencement Date of the Extension Term (such date is
         hereinafter

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         called the "Determination Date") taking into account all then relevant
         factors and which determination shall be made within a reasonable
         period of time after the occurrence of the Determination Date pursuant
         to the provisions of subsection (d) hereof, or

                                    (ii)     the product obtained by multiplying
         the rentable square foot area of the demised premises by the fixed
         annual rent and additional rent payable by Tenant to Landlord pursuant
         to Articles 1 and 3, respectively, hereof for the last month of the
         initial term of this Lease on an annualized basis (including the most
         recent rate of additional rent calculated on a monthly basis payable
         pursuant to Article 3 hereof) with respect to the demised premises
         (without giving effect to any abatements, set offs or concessions then
         in effect) determined on a per rentable square foot basis.

                           (c)      Effective as of the Commencement Date of the
Extension Term:

                                    (i)      the "Base Tax" set forth in Section
         3.01 (a) hereof shall be deemed to be the product of (x) the amount for
         which the Land and the Building are assessed for the purpose of
         establishing the real estate taxes to be paid by Landlord for the Tax
         Year ending on the June 30 immediately preceding the Determination
         Date, multiplied by (y) the real estate tax rate for such Tax Year, and

                                    (ii)     the "Base Wage Rate" set forth in
         Section 3.01(1) hereof shall be deemed to mean the Wage Rate in effect
         on January 1st of the calendar year immediately preceding the calendar
         year in which occurs the Determination Date.

                           (d)      Landlord and Tenant shall endeavor to agree
as to the amount of the fair market rent for the demised premises pursuant to
the provisions of clause (i) of subsection (a) hereof, during the ten (10)
Business Day period following the Determination Date. In the event that Landlord
and Tenant cannot agree as to the amount of the fair market rent within such ten
(10) Business Day period following the Determination Date, then Landlord or
Tenant may initiate the arbitration process provided for herein by giving notice
to that effect to the other, and the party so initiating the appraisal process
(such party hereinafter referred to as the "Initiating Party") shall specify in
such notice the name and address of the person designated to act as an
arbitrator on its behalf. Within ten (10) Business Days after the designation of
such arbitrator, the other party (hereinafter referred to as the "Other Party")
shall give notice to the Initiating Party specifying the name and address of the
person designated to act as an arbitrator on

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its behalf. If the Other Party fails to notify the Initiating Party of the
appointment of its arbitrator within the time above specified, then the
appointment of the second arbitrator shall be made in the same manner as
hereinafter provided for the appointment of a third arbitrator in a case where
the two arbitrators appointed hereunder and the parties are unable to agree upon
such appointment. The two arbitrators so chosen shall meet within seven (7)
Business Days after the second arbitrator is appointed and if, within fifteen
(15) Business Days after the second arbitrator is appointed, the two arbitrators
shall not agree, they shall together appoint a third arbitrator. In the event of
their being unable to agree upon such appointment within (10) Business Days
after the appointment of the second arbitrator, the third arbitrator shall be
selected by the parties themselves if they can agree thereon within a further
period of seven (7) Business Days. If the parties do not so agree, then either
party, on behalf of both and on notice to the other, may request such
appointment by the American Arbitration Association (or organization successor
thereto) in accordance with its rules then prevailing or if the American
Arbitration Association (or such successor organization) shall fail to appoint
said third arbitrator within seven (7) Business Days after such request is made,
then either party may apply on notice to the other, to the Supreme Court, New
York County, New York (or any other court having jurisdiction and exercising
functions similar to those now exercised by said Court) for the appointment of
such third arbitrator.

                           (e)      Each party shall pay the fees and expenses
of the one of the two original arbitrators appointed by or for such party, and
the fees and expenses of the third arbitrator and all other expenses (not
including the attorneys' fees, witness fees and similar expenses of the parties
which shall be borne separately by each of the parties) of the arbitration shall
be borne by the parties equally.

                           (f)      The third arbitrator shall determine the
fair market rent of the demised premises and render a written certified report
of its determination to both Landlord and Tenant within fifteen (15) Business
Days of the appointment of the first two arbitrators or fifteen (15) Business
Days from the appointment of the third arbitrator if such third arbitrator is
appointed pursuant to subsection (d) hereof, and the determination of Landlord's
or Tenant's arbitrator which is closest to the determination of the third
arbitrator, shall be applied to determine as above provided, whether the fixed
annual rent shall be increased pursuant to clause (i) of subsection (b) hereof
for the Extension Term.

                           (g)      Each of the arbitrators selected as herein
provided shall have at least ten (10) years' experience in the leasing and
renting of office space in first class office buildings in Midtown Manhattan,
New York County.

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                           (h)      If Landlord notifies Tenant that the fixed
annual rent for the Extension Term shall be equal to the amount set forth in
clause (ii) of subsection (b) hereof, then the provisions of subsection (d)
hereof shall be inapplicable and have no force or effect.

                           (i)      In the event Landlord or Tenant initiates
the appraisal process pursuant to subsection (d) hereof and as of the
Commencement Date of the Extension Term the amount of the fair market rent has
not been determined, Tenant shall pay the amount determined by Landlord to be
the fair market rent for the demised premises and when such determination has
been made, an appropriate retroactive adjustment shall be made as of the
Commencement Date of the Extension Term.

                           (j)      Except as provided in subsections (b) and
(c) hereof, Tenant's occupancy of the demised premises during the Extension Term
shall be on the same terms and conditions as are in effect immediately prior to
the expiration of the initial term of this Lease, provided, however, Tenant
shall have no further right to extend the term of this Lease pursuant to this
Article.

                           (k)      If Tenant does not send the Extension Notice
pursuant to provisions of subsection (a) hereof, this Article shall have no
force or effect and shall be deemed deleted from this Lease.

                           (l)      If this Lease is renewed for the Extension
Term, then Landlord or Tenant can request the other party hereto to execute an
instrument in form for recording setting forth the exercise of Tenant's right to
extend the term of this Lease and the last day of the Extension Term.

                           (m)      If Tenant exercises its right to extend the
term of this Lease for the Extension Term pursuant to this Article, the phrases
"the term of this Lease" or "the term hereof" as used in this Lease, shall be
construed to include, as applicable, the Extension Term.

                                   ARTICLE 49

                              INTENTIONALLY OMITTED

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                                   ARTICLE 50

                      LAYOUT AND FINISH; TENANT WORK CREDIT

                  50.01    Tenant hereby covenants and agrees that Tenant will,
at Tenant's own cost and expense, and in a good and workmanlike manner, make and
complete the work and installations in and to the demised premises set forth
below in such manner so that the demised premises will be tasteful and dignified
executive and administrative offices.

                  50.02    Tenant, at Tenant's expense, shall prepare a final
plan or final set of plans and specifications (which said plan or set of plans,
as the case may be, and specifications are hereinafter called the "final plan")
which shall contain complete information and dimensions necessary for the
construction and finishing of the demised premises. The final plan shall be
submitted to Landlord for Landlord's written approval which approval shall not
be unreasonably withheld or delayed with respect to work which is interior,
non-structural and does not adversely affect Building systems, the exterior of
the Building or any area of the Building outside the demised premises. Landlord
shall not be deemed unreasonable in withholding its consent to the extent that
the final plan prepared by Tenant pursuant hereto involves the performance of
work or the installation in the demised premises of materials or equipment which
do not equal or exceed the standard of quality of Building Standard
installations. Tenant shall reimburse Landlord promptly upon demand for all
actual reasonable out-of-pocket costs and expenses incurred by Landlord in
connection with Landlord's review of the final plan. Landlord agrees that it
shall respond to Tenant's request for approval of such final plan within ten
(10) Business Days after Tenant's submission thereof, and within seven (7)
Business Days after the submission of any subsequent revisions thereof, and in
the event Landlord disapproves of such final plan, Landlord shall set forth its
objections in reasonable detail (which may include by marking up the
drawing(s)).

                  50.03    In accordance with the final plan, Tenant, at
Tenant's expense, will make and complete in and to the demised premises the work
and installations (hereinafter called "Tenant's Work") specified in the final
plan. Tenant agrees that Tenant's Work will be performed with the least possible
disturbance to the occupants of other parts of the Building and to the
structural and mechanical parts of the Building and Tenant will, at its own cost
and expense, leave all structural and mechanical parts of the Building which
shall or may be affected by Tenant's Work in good and workmanlike operating
condition. Tenant, in performing Tenant's Work will, at its own cost and
expense, promptly comply with all laws, rules and regulations of all public
authorities having jurisdiction in the Building with reference to Tenant's Work.
If any act or omission of Tenant or its general contractor, subcontractors or
agents render the Building of which the demised premises are a part liable to
any mechanic's lien or other lien and if any such lien or liens be filed against
the Building of which the demised premises are a part, or against Tenant's Work,
or any part thereof, Tenant will, at Tenant's own cost and expense, promptly
remove the same of record within thirty (30) days after the filing of such lien
or

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liens; or in default thereof, Landlord may cause any such lien or liens to be
removed of record by payment of bond or otherwise, as Landlord may elect, and
Tenant shall reimburse Landlord for all costs and expenses incidental to the
removal of any such lien or liens incurred by Landlord. Tenant shall indemnify
and save harmless Landlord of and from all claims, counsel fees, loss, damage
and expenses whatsoever by reason of any liens, charges or payments of any kind
whatsoever that may be incurred or become chargeable against Landlord or the
Building of which the demised premises are a part, or Tenant's Work or any part
thereof, by reason of any work done or to be done or materials furnished or to
be furnished to or upon the demised premises in connection with Tenant's Work.
Tenant hereby covenants and agrees to indemnify and save harmless Landlord of
and from all claims, counsel fees, loss, damage and expenses whatsoever by
reason of any injury or damage, howsoever caused, to any person or property
occurring prior to the completion of Tenant's Work or occurring after such
completion, as a result of anything done or omitted in connection therewith or
arising out of any fine, penalty or imposition or out of any other matter or
thing connected with any work done or to be done or materials furnished or to be
furnished in connection with Tenant's Work. At any and all times during the
progress of Tenant's Work, Landlord shall be entitled to have a representative
or representatives on the site to inspect Tenant's Work and such representative
or representatives shall have free and unrestricted access to any and every part
of the demised premises upon reasonable notice and provided such access shall
not unduly disrupt Tenant's Work. Tenant shall advise Landlord in writing of
Tenant's general contractor who are to do Tenant's Work, and such general
contractor shall be subject to Landlord's prior written approval which approval
shall not be unreasonable withheld or delayed; such contractor shall, to the
extent permitted by law, use subcontractors and employees for Tenant's Work who
will work harmoniously with other employees on the job. Landlord hereby approves
the following contractors for Tenant's Work: (i) Henegan; (ii) McCann; (iii)
Kennedy; (iv) Lehr; (v) Gannon; (vi) Bovis; (vii) MBI or (viii) Anchor.
Notwithstanding the foregoing, Tenant shall use the life safety system
subcontractor designated by Landlord to perform any work to connect Tenant's
installations to the Building's life safety system, provided the charge for such
services shall be a commercially reasonable amount.

                  50.04    Tenant shall, at Tenant's sole cost and expense, file
all necessary architectural plans and obtain all necessary approvals and permits
in connection with Tenant's Work being performed by it pursuant to this Article
50. Tenant shall submit to Landlord Tenant's final plans for Landlord's review
no later than July 15, 2000.

                  50.05    The following conditions shall also apply to Tenant's
Work:

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                           (i)      all Tenant's Work shall be of good material,
         manufacture, design, capacity, quality and color at least equal to the
         reasonable standard adopted by Landlord for the Building (hereinafter
         called "Building Standard");

                           (ii)     Tenant, at Tenant's expense, shall (i) file
         all required architectural, mechanical and electrical drawings and
         obtain all necessary permits, and (ii) furnish and perform all
         engineering and engineering drawings in connection with Tenant's Work.
         Tenant shall obtain Landlord's approval of the drawings referred to in
         (i) and (ii) hereof, which approval shall not be unreasonably withheld
         or delayed, in accordance with the terms of Section 50.02 herein;

                           (iii)    Tenant shall use an engineer reasonably
         approved by Landlord with respect to the preparation of Tenant's
         engineering drawings for Tenant's Work, which approval shall not be
         unreasonably withheld or delayed;

                           (iv)     All of the provisions of Articles 6 and 8
         hereof shall apply to Tenant's performance of Tenant's Work; and

                           (v)      Tenant's Work (for space initially delivered
         hereunder, as opposed to the Occupied Space) shall be completed no
         later than December 31, 2000 subject to delays beyond Tenant's control.

                  50.06    Tenant agrees to install the Units (as defined in
Section 21.05) as part of Tenant's Work and to perform all work necessary to
upgrade the restrooms on the seventeenth (17th) and eighteenth (18th) floors of
the demised premises in compliance with the Building standards, with Local Law
58 and with the Americans with Disabilities Act of 1990 (collectively "Credit
Work"). Landlord shall allow Tenant a credit not to exceed the amount of Three
Hundred Forty-Five Thousand One Hundred Twenty-Eight Dollars ($345,128.00)
(hereinafter called the "Work Credit"), which credit shall be applied solely
against the cost and expense incurred in connection with the Credit Work.
Notwithstanding anything contained in this Lease to the contrary, up to ten
percent (10%) of the Work Credit may be used for architectural, engineering,
space planning, expediter and inspection fees, fees for all municipal and other
permits, licenses and approvals and fees, directly relating to Credit Work (as
opposed to being related to furniture, furnishings or other non "hard cost"
items). In the event that the cost and expense of the Credit Work shall exceed
the amount of the Work Credit, Tenant shall be entirely responsible for such
excess. In the event that the cost and expense of Credit Work shall be less than
the amount of the Work Credit, then the amount of the Work Credit shall be
reduced accordingly.

                  50.07    Landlord shall allow Tenant a credit not to exceed
the amount of One Million Seven Hundred Twenty-Five Thousand Six Hundred Forty
Dollars

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($1,725,640.00) (hereinafter called the "Tenant's Work Credit"), which credit
shall be applied solely against the cost and expense incurred in performing
Tenant's Work other than the Credit Work. Notwithstanding anything contained in
this Lease to the contrary, up to ten percent (10%) of Tenant's Work Credit may
be used for architectural, engineering, space planning, expediter and inspection
fees, fees for all municipal and other permits, licenses and approvals and fees,
directly relating to Tenant's Work (as opposed to being related to furniture,
furnishings or other non "hard cost" items). In the event that the cost and
expense of the Tenant's Work (exclusive of the Credit Work) shall exceed the
amount of Tenant's Work Credit, Tenant shall be entirely responsible for such
excess. In the event that the cost and expense of Tenant's Work (exclusive of
the Credit Work) shall be less than the amount of Tenant's Work Credit, then the
amount of Tenant's Work Credit shall be reduced accordingly.

                  50.08    (a)      Provided Tenant shall not be in default
under the terms of this Lease beyond applicable notice and cure periods,
Landlord hereby agrees to make periodic payments of up to ninety percent (90%)
of the Tenant's Work Credit and/or Work Credit shall be paid to Tenant as
Tenant's Work and Credit Work progresses, in accordance with the terms and
conditions hereinafter set forth (the "Work Payment Conditions") in this
subsection (a). Tenant shall submit to Landlord from time to time, but not more
often than once per month with respect to Tenant's Work or the Credit Work,
requisitions (herein referred to as "Tenant's Request") for such periodic
payment with respect to the portion(s) of Tenant's Work and Credit Work
performed subsequent to the immediately preceding Tenant's Request (if any),
together with the following:

                           (i)      copies of invoices from the contractors and
         subcontractors who performed the portions of Tenant's Work and Credit
         Work referred to in such Tenant's Request, and from the materialmen and
         suppliers who supplied the materials and supplies referred to in such
         Tenant's Request;

                           (ii)     a certificate from Tenant's architect or
         general contractor or construction manager that (1) such portion of the
         Tenant's Work and Credit Work has been substantially completed in
         accordance with the final plan and revisions thereto theretofore
         approved by Landlord; and (2) there are no uncured violations of record
         as a result of such portion of the Tenant's Work and Credit Work; and

                           (iii)    lien waivers from Tenant's general
         contractor and construction manager, and each major (for purposes
         hereof, a contract amount in excess of $10,000.00) subcontractor,
         materialman and supplier to the extent of the amount paid to such
         parties through the requisition preceding such Tenant's Request.

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<PAGE>

         Promptly following any Tenant's Request together with the aforesaid
accompanying documentation, Landlord shall have the right to enter the demised
premises for the purpose of reasonably verifying that such portion of Tenant's
Work and Credit Work covered by Tenant's Request has been performed
substantially in accordance with the Tenant's Plans and revisions thereto
theretofore approved by Landlord, provided Landlord shall respond to Tenant's
revisions to Tenant's Plans within ten (10) Business Days of receipt thereof. If
the Work Payment Conditions have been satisfied, then within thirty (30) days
after Landlord's receipt of Tenant's Request, together with the accompanying
documentation, Landlord shall pay to Tenant the amount shown on the "Current
Payment Due" on the Tenant's Request. The balance of the Tenant's Work Credit
and/or Work Credit, if any, after the completion of Tenant's Work and Credit
Work, shall be paid to Tenant in accordance with the terms and conditions set
forth in paragraph (b) below.

                           (b)      Subject to the provisions of this Section,
Landlord hereby agrees to pay the balance of the Tenant's Work Credit and/or
Work Credit, in accordance with the terms and conditions hereinafter in this
subsection (b) (the "Final Work Payment Conditions"). After the completion of
the Tenant's Work and Credit Work, Tenant shall submit to Landlord a requisition
(herein referred to as the "Final Request") for the balance of the Tenant's Work
Credit and/or Work Credit, together with the following:

                           (i)      a certificate from Tenant's architect or
         general contractor or construction manager that (1) all Tenant's Work
         and Credit Work has been completed in substantial accordance with the
         final plans and revisions thereto theretofore approved by Landlord; (2)
         there are no uncured violations of record, as a result of any of the
         Tenant's Work; and all Tenant's Work and Credit Work has been paid for
         in full;

                           (ii)     a general release and lien waivers from
         Tenant's general contractor, and each major (for purposes hereof, a
         contract amount in excess of $10,000.00) subcontractor, materialman and
         supplier and any other lien waiver Tenant has received in connection
         with Tenant's Work and Credit Work;

                           (iii)    copies of all New York City Building
         Department and New York City Fire Department sign-offs, inspection
         certificates and/or self-certifications by Tenant's subcontractors
         and/or any permits required to be issued by any governmental entity
         having jurisdiction thereover to the extent required to permit the
         lawful occupancy of the demised premises by Tenant; and

                           (iv)     two (2) copies of CAD "as built" plans of
         the demised premises, together with the final plan as finally approved
         by Landlord and filed with the New York City Department of Buildings,
         legibly marked with all field changes

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made during the performance of Tenant's Work and Credit Work (other than de
minimis changes) and certified by Tenant's architect as containing all such
field changes.

                           (c)      Promptly following the Final Request
together with the aforesaid accompanying documentation, Landlord shall have the
right to enter the demised premises for the purpose of reasonably verifying that
all of the Tenant's Work and Credit Work has been completed and performed
substantially in accordance with the final plan and revisions thereto
theretofore approved by Landlord, provided Landlord shall respond to Tenant's
revisions to Tenant's Plans within ten (10) Business Days of receipt thereof. If
the Final Work Payment Conditions have been satisfied, then within thirty (30)
days after Landlord's receipt of the Final Request together with the
accompanying documentation, Landlord shall pay to Tenant the balance of the
Tenant's Work Credit and/or Work Credit.

                  50.09    Tenant acknowledges that as of the date hereof there
are separate Class E systems and sprinkler risers for the Building and for that
certain building known and located at 512 Seventh Avenue, New York, New York
(the "512 Building"). Tenant further acknowledges that during the term of this
Lease, Landlord in its sole election, may combine the lobbies of the Building
and the 512 Building into a single lobby in a location to be selected by
Landlord, in its sole discretion, and unify the Class E systems for the
Building. In the event Landlord shall elect to combine the lobbies of the
Building and the 512 Building and unify the Class E systems, then Tenant shall,
at Landlord's cost and expense make all necessary modifications and install all
necessary devices within the demised premises to comply with applicable laws and
regulations. Landlord agrees to use reasonable efforts to the extent practicable
to perform the alterations permitted under this Section 50.10 in a manner so as
to not unreasonably interfere with the conduct of Tenant's business in the
demised premises, provided that Landlord shall not be required to effect the
same on an overtime or premium-pay basis.

                                   ARTICLE 51

                     TENANT'S AND LANDLORD'S REPRESENTATIONS

                  51.01    (a)      Tenant represents that is a duly formed
corporation in good standing and has all power and authority required to
execute, deliver and perform the obligations under this Lease.

                           (b)      Tenant's execution, delivery and performance
of this Lease have been duly authorized by all necessary action.

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<PAGE>

                  51.02    (a)      Landlord represents that is a duly formed
limited partnership in good standing and has all power and authority required to
execute, deliver and perform the obligations under this Lease.

                           (b)      Landlord's execution, delivery and
performance of this Lease have been duly authorized by all necessary action.

                           (c)      Landlord owns the leasehold interest in the
Land and Building.

                                   ARTICLE 52

                           SATELLITE DISH INSTALLATION

                  52.01    For the period (the "Dish Term") commencing on the
Commencement Date and ending on the last day of the term of this Lease, Tenant
shall have the right, in accordance with, and subject to, the provisions of this
Article, to install, maintain, repair, use and operate on the roof of the
Building, at its sole cost and expense one (1) satellite dish up to eighteen
(18) inches in diameter (which dish shall be used for receiving and transmitting
for the sole use of Tenant) and support equipment (such satellite dish and
support equipment being hereinafter collectively referred to as the
"Equipment"), which Equipment shall be cabled to the demised premises through a
riser reasonably designated by Landlord and shall not penetrate the roof of the
Building, for the exclusive use by Tenant, subject to all of the applicable
terms, covenants and provisions of this Lease, and subject to Landlord's prior
written approval (which approval shall not be unreasonably withheld or delayed)
including, without limitation, approval as to location, which approval shall
also be required for modifications to the same. In connection with such
installation, maintenance, repair, use and operation (collectively, the "Dish
Permitted Uses"), Tenant shall comply with all laws, ordinances, orders, rules,
regulations and requirements of all governmental and quasi-governmental
authorities having jurisdiction of or over the installation, maintenance,
repair, use, operation or removal of the Equipment, or the use of the Roof Space
(as hereinafter defined) or any other portion of the Building (collectively,
"Dish Laws"), regardless of whether such compliance requires, at any time during
the Dish Term, the making of alterations to the Building (which alterations may
only be made in accordance with, and subject to, the applicable provisions of
this Article) or other expenditures, whether foreseen or unforeseen, ordinary or
extraordinary. Tenant shall procure, maintain and pay for all permits,
certificates, consents, authorizations and licenses required therefor, including
all renewals thereof (collectively, "Dish Permits"). All reasonable costs and
expenses paid or incurred by or on behalf of Landlord in connection with the

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<PAGE>

Equipment, the Installation (as hereinafter defined) and the Dish Permitted
Uses, shall be reimbursed to Landlord, from time to time, within thirty (30)
days after Landlord gives to Tenant Landlord's invoice therefor, together with
reasonable evidence of the amounts so paid or incurred by Landlord.

                  52.02    The portion of the roof of the Building on which the
Equipment is to be located, which portion shall be reasonably designated by
Landlord so as to permit the Equipment to be usable for its intended purpose, is
herein referred to as the "Roof Space." All applicable provisions of this Lease
including, without limitation, those provisions relating to Tenant's obligations
to maintain, repair and insure the demised premises and to comply with laws
therein shall apply to Roof Space as if the same were part of the demised
premises. Tenant shall use the Roof Space for the Dish Permitted Uses, as
hereinbefore and hereinafter provided, and for no other purpose. Tenant shall
not make, or permit to be made, any alteration, installation, improvement,
substitution or addition to the Roof Space or any other portion of the Building,
except as expressly permitted under this Article.

                  52.03    Before commencing the installation of the Equipment
or any other alterations, improvements, additions or other work or changes
related thereto (such installation and other alterations, improvements,
additions and other work and changes being hereinafter referred to as the
"Installation"), Tenant, at its sole cost and expense, shall prepare and submit
to Landlord for Landlord's approval, reasonably detailed plans and
specifications therefor, which approval shall not be unreasonably withheld or
delayed, and which response shall be given by Landlord within fifteen (15)
business days after submission of said Tenant's Plans, and within ten (10)
Business Days after the submission of any subsequent revisions thereof. The
out-of-pocket cost and expense reasonably incurred and/or paid by Landlord in
connection with the review of said plans and specifications (and all revisions
thereto), and the inspection of the work in respect thereof, by Landlord and
Landlord's architects, engineers and other consultants and professionals shall
be reimbursed by Tenant to Landlord within ten (10) days after Landlord gives to
Tenant Landlord's an invoice therefor (together with reasonable evidence of the
amounts so paid or incurred by Landlord), Tenant agrees that neither Landlord's
approval of plans or specifications, nor its inspection of such work, nor its
right to inspect such work, shall impose upon Landlord any obligation or
liability whatsoever with respect thereto, including, without limitation, any
obligation or liability that might arise as a result of such work not being
performed in accordance with applicable laws and requirements or with the plans
and specifications approved by Landlord or otherwise. Landlord may, as a
condition of its approval, require Tenant to make revisions in and to such plans
and specifications. Tenant shall not use, employ or retain any contractor or
mechanic, or permit the use, employment or retention of any subcontractor, that
has not been first approved by Landlord, which approval shall not be
unreasonably withheld or delayed.

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<PAGE>

                  52.04    For the period commencing on the date Tenant shall
have completed the Installation of Equipment pursuant to this Article 52 until
the Expiration Date or such earlier date on which the Equipment shall be removed
from the Building pursuant to this Article 42, Tenant shall pay Landlord as
additional rent hereunder an amount equal to Three Thousand Dollars ($3,000) per
annum per diameter foot payable in the same manner as fixed annual rent.

                  52.05    All of Tenant's obligations and liabilities under
Article 9 of this Lease shall apply to the Equipment and the Roof Space as if
the Roof Space were a part of the demised premises. In addition, Tenant shall
procure, maintain and pay for such liability and property damage insurance as
Landlord shall reasonably require in connection with the Installation and the
maintenance, repair and operation of the Equipment, in form, substance and with
limits of liability reasonably approved, in writing, by Landlord. Tenant shall
have Landlord, the holders of all superior mortgages and the lessors under all
superior leases named as additional insureds on all such insurance policies.

                  52.06    Other than the electricity that Landlord is expressly
obligated to supply to the demised premises pursuant to Article 4 of this Lease,
Landlord shall not be obligated to provide any electricity for the operation of
the Equipment. Tenant, at its sole cost and expense, shall bring the electricity
required to operate the Equipment from the demised premises to the Roof Space,
in accordance with, and subject to, the provisions of Article 4 of this Lease.
The electricity used for the operation of the Equipment shall be part of "Usage"
(as such term is defined and used in Article 4 of this Lease) and Tenant shall
pay for such Usage in accordance, and subject to, the provisions of said Article
4.

                  52.07    (a)      Tenant covenants and agrees that the
installation, maintenance, repair, operation and removal of the Equipment on the
roof of the Building or in any other part of the Building shall be at the sole
risk and expense of Tenant. Landlord shall repair any and all damage to the roof
of the Building and to any part of the Building caused by or resulting from the
installation, maintenance, repair, operation or removal of the Equipment;
provided Tenant shall pay Landlord reasonable costs and expenses paid or
incurred by Landlord as a result thereof, within thirty (30) days after Landlord
gives to Tenant Landlord's invoice therefor, together with reasonable evidence
of the amounts so paid or incurred by Landlord.

                           (b)      In the manner provided in and subject to the
provisions of Article 39 Tenant shall indemnify and hold Landlord harmless from
and against any and all actions, proceedings, liabilities, obligations, claims,
damages, deficiencies, losses, judgments, suits, expenses and costs (including,
without limitation, reasonable legal fees and disbursements) in connection with
or resulting from the Dish Permitted Uses or the presence or removal of the
Equipment or other use thereof. Tenant further covenants and agrees that the
Equipment and any related equipment erected or installed by Tenant

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<PAGE>

pursuant to the provisions of this Article shall be erected, installed,
repaired, maintained and operated by Tenant at the sole cost and expense of
Tenant and without charge, cost or expense to Landlord.

                           (c)      Tenant hereby acknowledges that Landlord has
made no representations or warranties as to whether the roof of the Building is
suitable for the installation, maintenance or operation of the Equipment, or
whether the Equipment can be used for its intended purpose.

                  52.08    The parties agree that Tenant's use of the roof of
the Building is non-exclusive and Landlord may use, and/or permit any other
person or entity to use, any other portion of the Building for any purpose,
including the installation of other satellite dishes, antennae, generators
and/or communications systems, provided that such use does not interfere with
the use of the Equipment for the Dish Permitted Uses. Tenant shall not permit
its use of the roof of the Building, or the installation, operation,
maintenance, repair or removal of the Equipment, to impair, unreasonably
interfere with or materially adversely affect Landlord's or such other person's
or entity's data transmission and reception via their respective antennas or
satellite dishes, and support equipment, if any, or the operation or use of any
of the Building's systems or services. In no event shall the maximum level of
microwave emissions from the Equipment, when combined with all other microwave
emissions from the Building, exceed an amount equal to the total microwave
emissions allowable for the Building as determined by the governmental
authorities having jurisdiction thereof.

                  52.09    Notwithstanding anything to the contrary contained in
this, Landlord shall have no obligation to repair any damage to, or to replace
the Equipment or any fixtures, furniture, furnishing, equipment or other
property or effects of Tenant related to the Equipment, except to the extent
such repair is necessitated by the act or omission of Landlord, its principals,
officers, agents, contractors, servants, employees, licensees, agents or
invitees. In no event shall Tenant be entitled to receive any portion of
insurance proceeds or award for, or have any claim whatsoever against Landlord
or the condemning authority in connection with, any such damage, destruction,
acquisition or condemnation.

                  52.10    Tenant shall not directly or indirectly, by operation
of law, or otherwise, assign or otherwise transfer its rights under this
Article, or underlet, sublet, or sublicense any of such rights, or any portion
of the Roof Space, except in connection with an assignment of this lease or
subletting of the entire demised premises. Tenant acknowledges and agrees that
the rights granted to Tenant pursuant to this Article, are granted exclusively
for the enjoyment of the Tenant (and permitted successors in interest and
subtenants), and for no other persons or entities and only during such time as
such Tenant (and permitted successors in interest) is

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<PAGE>

the tenant under this lease and occupies the entire demised premises, less the
Occupied Space if the same is not delivered.

                  52.11    The Equipment and related equipment installed by
Tenant pursuant to the provisions of this Article shall be and remain Tenant's
property, and, upon the expiration of the Dish. Term, or such earlier date
selected by Tenant, shall be removed by Tenant, at Tenant's sole cost and
expense, and Tenant shall repair any damage to the roof of the Building, or any
other portion or portions of the Building caused by or resulting from said
removal.

                  52.12    Landlord, upon thirty (30) days' prior written notice
to Tenant, may reasonably relocate the Equipment and related equipment to other
areas of the Building and roof thereof, which relocation shall be at Landlord's
cost and expense, which cost and expense shall include the removal of the
Equipment and related equipment, conduits and cables, the purchasing of
materials and equipment necessary for the relocation thereof and the
reinstallation of the Equipment and such related equipment, conduits and cables
at such other location on the roof as shall be designated by Landlord, which
other location shall be no less favorable for the reception and transmission of
signals to and from the Equipment as the previous location. Landlord shall
perform the relocation so as to minimize interference with the reception of
and/or transmission of signals to and from the Equipment. Landlord's right of
relocation shall be in addition to any and all of Landlord's other rights and
remedies available at law or in equity if the necessity therefor results from
any failure of Tenant to observe, perform or comply with any of the terms,
covenants or conditions contained in this Article. If the necessity of such
relocation results from such failure, then the cost and expense of such
relocation shall be paid by Tenant to Landlord within ten (10) days after
Landlord's demand therefor. If this Lease terminates prior to the Expiration
Date, then Tenant, upon thirty (30) days prior written notice from Landlord,
must remove the Equipment at its sole cost and expense.

                  52.13    Landlord shall have the right to assign or transfer
its rights and obligations under this Article, separate and apart from its
interest, obligations and liabilities in, under and to this lease, to an entity
responsible for the management of the roof of the Building, or any other third
party, at any time.

                                    * * * * *

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<PAGE>

                  IN WITNESS WHEREOF, Landlord and Tenant have respectively
executed this Lease as of the day and year first above written.

                        LANDLORD:
                        500-512 SEVENTH AVENUE LIMITED PARTNERSHIP

                        By: 500-512 ArCap LLC

                              By: Archon Capital, L.P.

                                  By: WH MezzCo GP, L.L.C., its General Partner

                                       By: /s/ [illegible]
                                           -------------------------------
                                       Name:
                                       Title:

                              By: GS MezzCo GP., L.L.C., its General Partner

                                       By: /s/ [illegible]
                                           ------------------------------
                                       Name:
                                       Title:

                        TENANT:

                        ANSWERTHINK CONSULTING GROUP, INC.

                        By: /s/ [illegible]
                            -----------------------------------------------
                        Name:  [illegible]
                        Title: CEO

Tenant's Tax Identification Number is 65-0750100

                                       91

<PAGE>

                            FIRST AMENDMENT TO LEASE

                                     BETWEEN

              500-512 SEVENTH AVENUE LIMITED PARTNERSHIP, LANDLORD

                                       AND

                            ANSWERTHINK, INC., TENANT
                   (F/K/A ANSWERTHINK CONSULTING GROUP, INC.)

                                    PREMISES:

                     A PORTION OF THE SEVENTEENTH (17TH) AND
                    A PORTION OF THE EIGHTEENTH (18TH) FLOORS
                               500 SEVENTH AVENUE
                               NEW YORK, NEW YORK

<PAGE>

                            FIRST AMENDMENT TO LEASE

         THIS FIRST AMENDMENT TO LEASE (this "Amendment") made as of the 13th
day of September, 2000, by and between 500-512 SEVENTH AVENUE LIMITED
PARTNERSHIP, a New York limited partnership, having an office c/o Newmark &
Company Real Estate, Inc. ("Landlord", and ANSWERTHINK, INC. (f/k/a AnswerThink
Consulting Group, Inc., a Florida corporation, having an office at 500 Seventh
Avenue, New York, New York ("Tenant").

                               W I T N E S S E T H

         WHEREAS, by Agreement of Lease dated as of April 13, 2000 (such lease,
as the same may hereafter be amended, is hereinafter called the "Lease"),
Landlord did demise and let unto Tenant and Tenant did hire and take from
Landlord a portion of the seventeenth (17th) and eighteenth (18th) floors
(collectively, the "demised premises") as more particularly described in the
Lease in the building (the "Building") known by the street address 500 Seventh
Avenue, New York, New York; and

         WHEREAS, Tenant desires to use and Landlord agrees to allow Tenant to
use certain roof space for its mechanical equipment in addition to the Roof
Space designated for the Equipment pursuant to Article 52 of the Lease; and

         WHEREAS, Landlord and Tenant desire to modify and amend the Lease as
hereinafter provided and Landlord is agreeable thereto on the terms and
conditions hereinafter set forth.

         NOW, THEREFORE, for and in consideration of the mutual covenants herein
contained and other good and valuable consideration, the adequacy and receipt of
which are hereby acknowledged, Landlord and Tenant hereby agree as follows:

         1.       All capitalized terms used herein shall have the meanings
ascribed to them in the Lease unless otherwise specifically set forth herein to
the contrary.

         2.       As of the date hereof:

<PAGE>

                  a.       The following shall be added to the end of Section
52.13 of the Lease: "...; provided that Landlord is not adversely discriminatory
to Tenant with respect to exercising such right".

                  b.       The following is hereby added as Article 53 of the
Lease:

                  53.01    For the period (the "Mechanical Equipment Term")
         commencing on the date hereof and ending on the Expiration Date, Tenant
         shall have the right, in accordance with, and subject to, the
         provisions of this Amendment, to install, maintain, repair, use and
         operate on the roof of the Building, at its sole cost and expense, such
         of Tenant's mechanical equipment as shall be approved by Landlord
         (collectively, the "Mechanical Equipment"). Landlord has approved the
         Mechanical Equipment described on Exhibit A attached hereto and hereby
         made a part hereof. In connection with such installation, maintenance,
         repair, use and operation (collectively, the "Mechanical Equipment
         Permitted Uses"), Tenant shall comply with all laws, ordinances,
         orders, rules, regulations and requirements of all governmental and
         quasi-governmental authorities having jurisdiction of or over the
         installation, maintenance, repair, use, operation or removal of the
         Mechanical Equipment, or the use of the Mechanical Equipment Roof Space
         (as hereinafter defined) or any other portion of the Building
         (collectively, "Mechanical Equipment Laws"), regardless of whether such
         compliance requires, at any time during the Mechanical Equipment Term,
         the making of alterations to the Building (which alterations may only
         be made in accordance with, and subject to, the applicable provisions
         of this Amendment) or other expenditures, whether foreseen or
         unforeseen, ordinary or extraordinary. Tenant shall procure, maintain
         and pay for all permits, certificates, consents, authorizations and
         licenses required therefor, including all renewals thereof
         (collectively, "Mechanical Equipment Permits"). Any and all costs and
         expenses paid or incurred by or on behalf of Landlord in connection
         with the Mechanical Equipment, the Mechanical Equipment Installation
         (as hereinafter defined) and the Mechanical Equipment Permitted Uses,
         shall be reimbursed to Landlord, from time to time, within ten (10)
         days after Landlord gives to Tenant Landlord's invoice therefor,
         together with reasonable evidence of the amounts so paid or incurred by
         Landlord.

                                      -2-

<PAGE>

                  53.02    The portion of the roof of the Building on which the
         Mechanical Equipment is to be located is shown on the plan annexed
         hereto as Exhibit C (the "Mechanical Equipment Roof Space"). All
         applicable provisions of this Lease including, without limitation,
         those provisions relating to Tenant's obligations to maintain, repair
         and insure the demised premises and to comply with laws therein shall
         apply to the Mechanical Equipment Roof Space as if the same were part
         of the demised premises, except that Tenant may not assign or sublet
         the Mechanical Equipment RoofSpace, except as provided in Section 53.10
         below. Tenant shall use the Mechanical Equipment Roof Space for the
         Mechanical Equipment Permitted Uses, as hereinbefore and hereinafter
         provided, and for no other purpose. Tenant shall not make, or permit to
         be made, any alteration, installation, improvement, substitution or
         addition to the Mechanical Equipment Roof Space or any other portion of
         the Building, except as expressly permitted under this Amendment.

                  53.03    Before commencing the installation of the Mechanical
         Equipment or any other alterations, improvements, additions or other
         work or changes related thereto (such installation and other
         alterations, improvements, additions and other work and changes being
         hereinafter referred to as the "Mechanical Equipment Installation"),
         Tenant, at its sole cost and expense, shall prepare and submit to
         Landlord for Landlord's approval, detailed plans and specifications
         therefor, and which response thereto shall be given by Landlord within
         fifteen (15) Business Days after submission of said Tenant's Plans, and
         within ten (10) Business Days after the submission of any subsequent
         revisions thereof. Tenant has submitted to Landlord plans and
         specifications for the Mechanical Equipment described on Exhibit A,
         which plans and specifications are described on Exhibit B attached
         hereto and hereby made a part hereof and Landlord has approved the
         same. Tenant agrees to retain Jerrick Waterproofing for any and all
         work on the roof of the Building to preserve the warranty applicable
         thereto. The out-of-pocket cost and expense reasonably incurred and/or
         paid by Landlord in connection with the review of said plans and
         specifications (and all revisions thereto), and the inspection of the
         work in respect thereof, by Landlord and Landlord's architects,
         engineers and other consultants and professionals shall be
         reimbursed by Tenant to Landlord within ten (10) days after Landlord
         gives to Tenant

                                      -3-

<PAGE>

         Landlord's invoice therefor (together with reasonable evidence of the
         amounts so paid or incurred by Landlord), Tenant agrees that neither
         Landlord's approval of plans or specifications, nor its inspection of
         such work, nor its right to inspect such work, shall impose upon
         Landlord any obligation or liability whatsoever with respect thereto,
         including, without limitation, any obligation or liability that might
         arise as a result of such work not being performed in accordance with
         applicable laws and requirements or with the plans and specifications
         approved by Landlord or otherwise. Landlord may, as a condition of its
         approval, require Tenant to make revisions in and to such plans and
         specifications. Tenant shall not use, employ or retain any contractor
         or mechanic, or permit the use, employment or retention of any
         subcontractor, that has not been first approved by Landlord.

                  53.04    Commencing on the Rent Commencement Date until the
         Expiration Date, Tenant shall pay Landlord as additional rent hereunder
         an amount equal to Fifty Thousand Dollars ($50,000) per annum, or Four
         Thousand One Hundred Sixty Six and 67/100 Dollars ($4,166.67) per
         month, payable in the same manner as fixed annual rent.

                  53.05    All of Tenant's obligations and liabilities under
         Article 9 of the Lease shall apply to the Mechanical Equipment and the
         Mechanical Equipment Roof Space as if the Mechanical Equipment Roof
         Space were a part of the demised premises. In addition, Tenant shall
         procure, maintain and pay for such liability and property damage
         insurance as Landlord shall reasonably require in connection with the
         Mechanical Equipment Installation and the maintenance, repair and
         operation of the Mechanical Equipment, in form, substance and with
         limits of liability as set forth in the Lease, approved, in writing, by
         Landlord. Tenant shall have Landlord, the holders of all superior
         mortgages and the lessors under all superior leases named as additional
         insureds on all such insurance policies.

                  53.06    Other than the electricity that Landlord is expressly
         obligated to supply to the demised premises pursuant to Article 4 of
         the Lease, Landlord shall not be obligated to provide any electricity
         for the operation of the Mechanical Equipment. Tenant, at its sole cost
         and expense, shall bring the electricity required to operate the
         Mechanical Equipment from the demised premises to the

                                      -4-

<PAGE>

         Mechanical Equipment Roof Space, in accordance with, and subject to,
         the provisions of Article 4 of this Lease. The electricity used for the
         operation of the Mechanical Equipment shall be part of "Usage" (as such
         term is defined and used in Article 4 of the Lease) and Tenant shall
         pay for such Usage in accordance, and subject to, the provisions of
         said Article 4.

                  53.07   (i)       Tenant covenants and agrees that the
         installation, maintenance, repair, operation and removal of the
         Mechanical Equipment on the roof of the Building or in any other part
         of the building shall be at the sole risk and expense of Tenant.
         Landlord shall repair any and all damage to the roof of the Building
         and to any part of the Building caused by or resulting from the
         installation, maintenance, repair, operation or removal of the
         Mechanical Equipment; provided Tenant shall pay Landlord any and all
         costs and expenses paid or incurred by Landlord as a result thereof,
         within thirty (30) days after Landlord gives to Tenant Landlord's
         invoice therefor, together with reasonable evidence of the amounts so
         paid or incurred by Landlord.

                           (ii)     In the manner provided in and subject to the
         provisions of Article 39 Tenant shall indemnify and hold Landlord
         harmless from and against any and all actions, proceedings,
         liabilities, obligations, claims, damages, deficiencies, losses,
         judgments, suits, expenses and costs (including, without limitation,
         reasonable legal fees and disbursements) in connection with or
         resulting from the Mechanical Equipment Permitted Uses or the presence
         or removal of the Mechanical Equipment or other use thereof. Tenant
         further covenants and agrees that the Mechanical Equipment and any
         related equipment erected or installed by Tenant pursuant to the
         provisions of this Amendment shall be erected, installed, repaired,
         maintained and operated by Tenant at the sole cost and expense of
         Tenant and without charge, cost or expense to Landlord.

                           (iii)    Tenant hereby acknowledges that Landlord has
         made no representations or warranties as to whether the roof of the
         Building is suitable for the installation, maintenance or operation of
         the Mechanical Equipment, or whether the Mechanical Equipment can be
         used for its intended purpose.

                                      -5-

<PAGE>

                  53.08    The parties agree that Tenant's use of the roof of
         the Building is non-exclusive and Landlord may use, and/or permit any
         other person or entity to use, any other portion of the Building for
         any purpose, including the installation of other mechanical equipment,
         satellite dishes, antennae, generators and/or communications systems,
         provided that such use does not interfere, except to a de minimis
         extent, with the use of the Mechanical Equipment for the Mechanical
         Equipment Permitted Uses. Tenant shall not permit its use of the roof
         of the Building, or the installation, operation, maintenance, repair or
         removal of the Mechanical Equipment, to impair, unreasonably interfere
         with or materially or adversely affect Landlord's or such other
         person's or tenant's use of the roof of the Building or the operation
         or use of any of the Building's systems or services.

                  53.09    Notwithstanding anything to the contrary contained in
         this Article, Landlord shall have no obligation to repair any damage
         to, or to replace the Mechanical Equipment or any fixtures, furniture,
         furnishing, equipment or other property or effects of Tenant related to
         the Mechanical Equipment, except to the extent such repair is
         necessitated by the act or omission of Landlord, its principals,
         officers, agents, contractors, servants, employees, licensees, agents
         or invitees. In no event shall Tenant be entitled to receive any
         portion of insurance proceeds or award for, or have any claim
         whatsoever against Landlord or the condemning authority in connection
         with, any such damage, destruction, acquisition or condemnation.

                  53.10    Tenant shall not directly or indirectly, by operation
         of law, or otherwise, assign or otherwise transfer its rights under
         this Amendment or underlet, sublet, or sublicense any of such rights,
         or any portion of the Mechanical Equipment Roof Space, except in
         connection with an assignment of this lease or subletting of the entire
         demised premises. Tenant acknowledges and agrees that the rights
         granted to Tenant pursuant to this Amendment, are granted exclusively
         for the enjoyment of the Tenant (and permitted successors in interest
         and subtenants), and for no other persons or entities and only during
         such time as such Tenant (and permitted successors in interest) is the
         tenant under this lease and occupies the entire

                                      -6-

<PAGE>

         demised premises, less the Occupied Space if the same is not delivered.

                  53.11    The Mechanical Equipment and related equipment
         installed by Tenant pursuant to the provisions of this Article shall be
         and remain Tenant's property and, upon the expiration of the Mechanical
         Equipment Term, or such earlier date selected by Tenant, shall be
         removed by Tenant, at Tenant's sole cost and expense, and Tenant shall
         repair any damage to the roof of the Building, or any other portion or
         portions of the Building caused by or resulting from said removal.
         Notwithstanding the foregoing, Tenant shall not be obligated to remove
         the existing steel structure identified on Exhibit C as the "Existing
         Steel Structure" (the "Dunnage") which is to be used by Tenant pursuant
         to the provisions of this Article 53, provided the Dunnage be returned
         to Landlord in its original condition, subject to ordinary wear and
         tear and damage by casualty. Tenant agrees, at its sole cost and
         expense, to demolish and remove the existing equipment on the Dunnage
         prior to installing the Mechanical Equipment and related equipment as
         described in this Article 53. In the event the Dunnage is modified or
         altered in connection with the installation of the Mechanical Equipment
         or otherwise by Tenant or by Tenant's use of the Dunnage, the Dunnage
         shall be removed by Tenant upon the expiration of the Mechanical
         Equipment Term or such earlier termination, at Tenant's sole cost and
         expense, and Tenant shall repair any damage to the roof of the
         Building, or any other portion or portions of the Building caused by or
         resulting from such removal.

                  53.12    Landlord, upon thirty (30) days' prior written notice
         to Tenant, may reasonably relocate the Mechanical Equipment and related
         equipment to other areas of the Building and roof thereof, which
         relocation shall be at Landlord's cost and expense, which cost and
         expense shall include the removal of the Mechanical Equipment and
         related equipment, conduits and cables, the purchasing of materials and
         equipment necessary for the relocation thereof and the reinstallation
         of the Mechanical Equipment and such related equipment, conduits and
         cables at such other location on the roof as shall be designated by
         Landlord. In the event of a relocation of the Mechanical Equipment by
         Landlord (and not by reason of Tenant's failure to observe, perform or
         comply with the provisions of this

                                      -7-

<PAGE>

         Amendment), and upon Tenant's written request, Landlord shall provide,
         at its sole cost and expense, reasonably adequate cooling ("Substitute
         Cooling") to the demised premises until the relocation of the
         Mechanical Equipment is complete. To satisfy Landlord's obligation to
         provide Substitute Cooling to the demised premises under this Section
         53.12, Landlord may, at its sole discretion and provided the Substitute
         Cooling does not adversely impact (except to a de minimis extent)
         Tenant's air-conditioning system, (i) use a device(s) known as "spot
         cooler(s)", (ii) connect an alternative water supply from the existing
         water tower on the roof of the Building, so as not to unreasonably
         disturb the normal cooling to the demised premises, until the
         relocation is complete, or (iii) propose a reasonable alternative to
         provide the Substitute Cooling to the demised premises, provided such
         reasonable alternative is subject to Tenant's approval, which approval
         shall not be unreasonably withheld or delayed. Landlord's right of
         relocation shall be in addition to any and all of Landlord's other
         rights and remedies available at law or in equity if the necessity
         therefor results from any failure of Tenant to observe, perform or
         comply with any of the terms, covenants or conditions contained in this
         Amendment. If the necessity of such relocation results from such
         failure, then the cost and expense of such relocation shall be paid by
         Tenant to Landlord within ten (10) days after Landlord's demand
         therefor and Landlord shall not be obligated to provide any Substitute
         Cooling to Tenant as provided in this Section 53.12. If this Lease
         terminates prior to the Expiration Date, then Tenant, upon thirty (30)
         days prior written notice from Landlord, must remove the Mechanical
         Equipment at Tenant's sole cost and expense.

                  53.13    Tenant hereby represents that it has made a thorough
         inspection of the Mechanical Equipment Roof Space and agrees to take
         the same in its condition "as is" as of the date hereof, and that
         Landlord shall have no obligation to alter, repair, or otherwise
         prepare the same for Tenant's use.

                  53.14    If any of the Taxes are increased as a result of the
         Tenant's use of the Mechanical Equipment on the roof of the Building or
         Tenant's use of the Mechanical Equipment Roof Space, then Tenant shall,
         in the case of any such increase in Taxes, pay to Landlord, within
         twenty (20) days of demand thereof, an amount

                                      -8-

<PAGE>

         equal to said increase in Taxes. In the event,(i) the increase in Taxes
         are not itemized and/or identified in the tax bill, (ii) Tenant
         disputes that the increase in Taxes are attributable to Tenant's use of
         the Mechanical. Equipment Roof Space, and (iii) Landlord and Tenant
         cannot come to an agreement as to whether the increase in Taxes are
         attributable to Tenant's use of the Mechanical Equipment Roof Space,
         such dispute shall be resolved by arbitration in accordance with
         Article 38 of the Lease.

         3.       Each party hereto covenants, warrants and represents to the
other party that it has had no dealings, conversations or negotiations with any
broker or agent other than Newmark & Company Real Estate, Inc. and Insignia/ESG,
Inc. concerning the execution and delivery of this Amendment. Each party hereto
agrees to defend, indemnify and hold harmless the other party against and from
any claims for any brokerage commissions and all costs, expenses and liabilities
in connection therewith, including, without limitation, reasonable attorneys'
fees and disbursements, arising out of its respective representations and
warranties contained in this Paragraph 3 being untrue.

         4.       Except as expressly set forth in this Amendment, the terms and
conditions of the Lease shall continue in full force and effect without any
change or modification and shall apply for the balance of the term of the Lease.
In the event of a conflict between the terms of the Lease and the terms of this
Amendment, the terms of this Amendment shall govern.

         5.       This Amendment shall not be altered, amended, changed, waived,
terminated or otherwise modified in any respect or particular, and no consent or
approval required pursuant to this Amendment shall be effective, unless the same
shall be in writing and signed by or on behalf of the party to be charged.

         6.       This Amendment shall be binding upon and shall inure to the
benefit of the parties hereto and to their respective heirs, executors,
administrators, successors and permitted assigns.

         7.       All prior statements, understandings, representations and
agreements between the parties, oral or written, are superseded by and merged in
this Amendment, which alone fully and completely expresses the agreement between
them in connection with this transaction and which is entered into after full
investigation, neither party relying upon any statement, understanding,
representation or agreement made by the other not embodied in this Amendment.

                                      -9-
<PAGE>

         8.       No failure or delay of either party in the exercise of any
right or remedy given to such party hereunder or the waiver by any party of any
condition hereunder for its benefit (unless the time specified herein for
exercise of such right or remedy has expired) shall constitute a waiver of any
other or further right or remedy nor shall any single or partial exercise of any
right or remedy preclude other or further exercise thereof or any other right or
remedy. No waiver by either party of any breach hereunder or failure or refusal
by the other party to comply with its obligations shall be deemed a waiver of
any other or subsequent breach, failure or refusal to so comply.

         9.       This Amendment shall be interpreted and enforced in accordance
with the laws of the state of New York without reference to principles of
conflicts of laws.

         10.      If any provision of this Amendment shall be unenforceable or
invalid, the same shall not affect the remaining provisions of this Amendment
and to this end the provisions of this Amendment are intended to be and shall be
severable. Notwithstanding the foregoing sentence, if (i) any provision of this
Amendment is finally determined by a court of competent jurisdiction to be
unenforceable or invalid in whole or in part, (ii) the opportunity for all
appeals of such determination expired, and (iii) such unenforceability or
invalidity alters the substance of this Amendment (taken as a whole) so as to
deny either party, in a material way, the realization of the intended benefit of
its bargain, such party may terminate this Amendment within thirty (30) days
after the final determination by notice to the other. If such party so elects to
terminate this Amendment then this Amendment shall be terminated and neither
party shall have any further rights, obligations or liabilities hereunder,
except those obligations which expressly survive the termination of this
Amendment.

         11.      LANDLORD AND TENANT HEREBY KNOWINGLY, VOLUNTARILY,
INTENTIONALLY, UNCONDITIONALLY AND IRREVOCABLY WAIVE ANY RIGHT EACH MAY HAVE TO
TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER ARISING IN TORT
OR CONTRACT) BROUGHT BY EITHER AGAINST THE OTHER ON ANY MATTER ARISING OUT OF OR
IN ANY WAY CONNECTED WITH THIS AMENDMENT OR ANY OTHER DOCUMENT EXECUTED AND
DELIVERED BY EITHER PARTY IN CONNECTION HEREWITH (INCLUDING ANY ACTION TO
RESCIND OR CANCEL THIS AMENDMENT ON THE GROUNDS THAT THIS AMENDMENT WAS
FRAUDULENTLY INDUCED OR IS OTHERWISE VOID OR VOIDABLE).

                                      -10-

<PAGE>

         12.      This Amendment may be executed in any number of counterparts.
It is not necessary that all parties sign all or any one of the counterparts,
but each party must sign at least one counterpart for this Amendment to be
effective.

         13.      Tenant and Landlord, and each of the persons executing this
Amendment on behalf of Tenant and Landlord, do hereby warrant that the party for
which they are executing this Amendment (i) is a duly authorized and existing
entity, (ii) is qualified to do business in New York, and (iii) has full right
and authority to enter into this Amendment, and that any person signing on
behalf of such party is authorized to do so. Upon either party's request, the
other party shall provide evidence reasonably satisfactory to the requesting
party confirming the foregoing warranties.

         14.      This Amendment shall not be binding upon either party unless
and until it is fully executed and delivered to both parties.

                                 *  *  *  *  *

       [The remainder of this page is intentionally left blank; the
                            signature page follows.]

                                      -11-

<PAGE>

         IN WITNESS WHEREOF, Landlord and Tenant have respectively executed this
Amendment as of the day and year first above written.

                                   LANDLORD:

                                   500-512 SEVENTH AVENUE LIMITED PARTNERSHIP

                                   By: 500-512 ArCap LLC

                                        By: ____________________________________
                                            Name:
                                            Title: Authorized Representative

                                   TENANT:

                                   ANSWERTHINK, INC.

                                   By:  /s/ FRANK A. ZOMERFELD
                                        ------------------------
                                        Name: FRANK A. ZOMERFELD
                                        Title: SECRETARY & CORPORATE COUNSEL

                                      -12-<PAGE>
                                                                   EXHIBIT 10.21
                           L E A S E  A G R E E M E N T
                           - - - - -  - - - - - - - - -

FIRST INDUSTRIAL, L.P.,
a Delaware Limited Partnership

                        "Landlord"

      - and -

EYETECH PHARMACEUTICALS, INC.,
a Delaware corporation

PREMISES:    140 Hanover Avenue
             Hanover Township, New Jersey

DATED:       March 14th, 2002

PREPARED BY: ROBERT K. BROWN, ESQ
<PAGE>
                                  STANDARD FORM
                            INDUSTRIAL BUILDING LEASE
                                 (Single Tenant)

      1. BASIC TERMS. This Section 1 contains the Basic Terms of this Lease
between Landlord and Tenant, named below. Other Sections of the Lease referred
to in this Section 1 explain and define the Basic Terms and are to be read in
conjunction with the Basic Terms.

            1.1.  Date of Lease as of March l4, 2002.

            1.2.  Landlord: First Industrial, L.P., a Delaware limited
                  partnership.

            1.3.  Tenant: Eyetech Pharmaceuticals, Inc., a Delaware
                  corporation.

            1.4.  Premises: That certain parcel of land having a street address
                  of 140 Hanover Avenue, Hanover Township, New Jersey and
                  described in "Exhibit A" attached hereto (the "Land"), along
                  with the building located at the Land, which for purposes of
                  this Lease shall be deemed to include 24,905 rentable square
                  feet (the "Building") as well as all other improvements
                  located at the Land.

            1.5.  Lease Term: Five (5) years ("Term"), commencing on or about
                  May 1, 2003 ("Commencement Date) and ending April 30, 2008,
                  subject to Section 2.4 below ("Expiration Date").

            1.6.  Permitted Uses: (See Section 4.1) Office; laboratory and
                  warehouse purposes only.

            1.7.  Tenant's Guarantor: None.

            1.8.  Broker: (See Section 23) Newmark JGT of New Jersey, LLC.

            1.9.  Security/Damage Deposit: (See Section 4.3) $900,000.00.

            1.10. Initial Estimated Operating Expenses Payable by Tenant:
                  $7,000.00 per month.

            1.11. Riders to Lease: The following riders are attached to and made
                  a part of this Lease. None.

      2.    LEASE OF PREMISES; RENT.

            2.1. LEASE OF PREMISES FOR LEASE TERM. Landlord hereby leases the
Premises to Tenant, and Tenant hereby rents the Premises from Landlord, for the
Term and subject to the conditions of this Lease.

            2.2. TYPES OF RENTAL PAYMENTS. Tenant shall pay net base rent to
Landlord in monthly installments, in advance, on the first day of each and every
calendar month during the Term of this Lease (the "Base Rent") in the amounts
and for the periods set forth below:
<TABLE>
<CAPTION>
       Lease Period           Annual Base Rent      Monthly Base Rent
       ------------           ----------------      -----------------

<S>                          <C>                   <C>
      First  (1st) year         $348,670.00           $29,055.83
      Second (2nd) year         $348,670.00           $29,055.83
      Third  (3rd) year         $361,122.50           $30,093.54
      Fourth (4th) year         $373,575.00           $31,131.25
      Fifth  (5th) year         $373,575.00           $31,131.25

</TABLE>

                                       1
<PAGE>
<TABLE>
<CAPTION>
        Option Period 1
         (if exercised)      Annual Base Rent      Monthly Base Rent
         --------------      ----------------      -----------------
<S>                         <C>                   <C>
      First  (1st) year          $392,253.75           $32,687.81
      Second (2nd) year          $404,208.15           $33,684.01
      Third  (3rd) year          $416,411.60           $34,700.97
      Fourth (4th) year          $428,864.10           $35,738.68
      Fifth  (5th) year          $441,814.70           $36,817.89
</TABLE>

<TABLE>
<CAPTION>
        Option Period 2
         (if exercised)      Annual Base Rent      Monthly Base Rent
         --------------      ----------------      -----------------
<S>                         <C>                   <C>
      First  (1st) year          $463,980.15           $38,665.01
      Second (2nd) year          $477,926.95           $39,827.25
      Third  (3rd) year          $492,371.85           $41,030.99
      Fourth (4th) year          $507,314.85           $42,276.24
      Fifth  (5th) year          $522,506.90           $43,542.24
</TABLE>

Tenant shall also pay, as additional rent (the "Additional Rent"), any and all
Reserve Expenses (as hereinafter defined) and the Operating Expenses (as
hereinafter defined). Additional Rent shall be due and payable when and as
provided below in this Lease. In the event any monthly installment of Base Rent
or Additional Rent, or both, is not paid within 5 days of the date when due, a
late charge in an amount equal to 10% of the then delinquent installment of Base
Rent and/or Additional Rent (the "Late Charge"; the Late Charge, Default
Interest (as defined in Section 22.2 below), Base Rent and Additional Rent shall
collectively be referred to as "Rent") shall be paid by Tenant to Landlord. All
payments of Rent shall be paid to First Industrial, L.P., c/o First Industrial,
L.P., P.O. Box 33168, Newark, New Jersey 07188-0168, or if sent by overnight
courier, Bank One National Processing Corporation, 3rd Floor, 300 Harmon Meadow
Boulevard, Secaucus, New Jersey 07084, Attention: First Industrial, L.P.,
Lockbox #33168 (or such other entity designated in writing by Landlord to Tenant
as Landlord's management agent, if any, and if Landlord so appoints such a
management agent, the "Agent"), or pursuant to such other directions as Landlord
shall designate in this Lease or otherwise in writing. On or prior to April 23,
2003, the Tenant will deliver to the Landlord the first monthly installment of
Base Rent payable hereunder and the first month's Estimated Additional Rent. The
Security Deposit shall be delivered to Landlord as contemplated under Section
4.3.

      2.3. OPERATING EXPENSES; RESERVE FOR MAINTENANCE.

              2.3.1. OPERATING EXPENSES. The term "Operating Expenses" shall
mean all of the following costs and expenses paid or incurred by Landlord with
respect to the ownership, repair, replacement, restoration, management,
maintenance and operation of the Premises, and which Tenant shall reimburse
and/or pay Landlord, as Additional Rent: (i) all costs, wages and benefits of
employees or other agents of Landlord to the extent engaged directly in the
performance or rendition of General Maintenance Services (as defined in Section
13.1) or other services to the Premises; (ii) all premiums for casualty,
workers' compensation, liability, boiler, flood and all other types of insurance
provided by Landlord and relating to the Premises (the Landlord's Insurance
Policies"); (iii) the cost of all utilities, supplies, tools, materials and
equipment utilized in the ownership, repair, maintenance and operation of the
Premises, together with sales and other taxes thereon; (iv) amounts charged by
any or all of contractors, materialmen and suppliers for services, materials and
supplies furnished to Landlord to or for the Premises (together with a 21%
overhead and administrative fee to Landlord for such services, materials, and
supplies furnished in connection with capital improvement projects to or for the
Premises which are not an obligation of Landlord pursuant to Section 13.2), or
any other services provided by or to Landlord or Agent to or for the Premises
hereunder which in any of the

                                       2
<PAGE>
foregoing cases are not an obligation of Landlord pursuant to this Lease; (v)
management fees to Landlord or Agent or other persons or management entities
actually involved in the management or operation of the Premises (which shall
not exceed an amount equal to 3.75% of the Base Rent payable by Tenant during
the applicable Operating Year); (vi) any capital improvements made by, or on
behalf of, Landlord to the Premises that either (a) reduce Operating Expenses or
(b) are required to keep the Premises in compliance with all governmental laws,
rules and regulations applicable thereto, from time to time, the cost of which
capital improvements shall be reasonably amortized by Landlord over the useful
life of the improvement, in accordance with generally accepted accounting
principles, and which shall be charged to Tenant on such basis; (vii) Taxes (as
hereinafter defined in Section 3); and (viii) all reasonable professional fees
incurred in connection with standard services provided by Landlord or Agent to
or for the Premises. Specifically excluded from Operating Expenses shall be (a)
costs of repairs, maintenance and replacements arising out of Landlord's
negligence or otherwise on account of a breach of this Lease by Landlord, (b)
fines and penalties, unless arising out of Tenant's acts or omissions, (c)
exactions paid to governmental bodies such as infrastructure costs, traffic
improvements, curb cuts and the like, (d) costs reimbursed by insurance
proceeds, condemnation awards or the like, and (e) fees and expenses paid to
Landlord or its affiliates above market rates. All Operating Expenses shall be
necessary and reasonable for the operation of the Premises in a first class and
business-like manner, and in accordance with sound real estate management
practices, which is the standard to which Landlord shall perform its obligations
hereunder. Landlord shall employ a professional standard of care, diligence and
integrity in performing its obligations hereunder. All contracts for supplies
and services shall be entered into with third-party vendors in arms length
transactions, at prevailing prices, and any payments to Landlord or any of its
agents or affiliates which may be permitted hereunder shall be at prevailing
rates.

      The Additional Rent owing from Tenant to Landlord on account of Operating
Expenses shall commence to accrue as of the Commencement Date. The Operating
Expenses payable hereunder for the Operating Years (defined below) in which the
Term begins and ends shall be prorated to correspond to that portion of said
Operating Years occurring within the Term. Landlord shall have the right to
reasonably estimate the Operating Expenses for each Operating Year. Upon
Landlord's notice to Tenant of such estimated amount (which shall be reasonably
detailed), Tenant shall pay, on the first day of each month during that
Operating Year, an amount (the "Estimated Operating Expenses") equal to the
estimate of the Operating Expenses divided by 12 (or the fractional portion of
the Operating Year remaining at the time Landlord delivers its notice of
Estimated Operating Expenses due from Tenant). Landlord may adjust the Estimated
Operating Expenses from time to time to more accurately reflect the actual or
anticipated amount of Operating Expenses. Landlord shall provide to Tenant an
expense statement for each Operating Year within ninety (90) days after the end
of such Operating Year, which annual statement shall be certified by an officer
of Landlord, and which shall include a detailed computation of Operating
Expenses for the Operating Year. Landlord shall furnish backup documentation for
such annual statement to Tenant, upon Tenant's written request. If the aggregate
amount of Estimated Operating Expenses actually paid by Tenant during any
Operating Year is less than Tenant's actual ultimate liability for Operating
Expenses for that particular Operating Year, as determined pursuant to this
Section 2.3.1, Tenant shall pay the deficiency within 30 days of demand. If the
aggregate amount of Estimated Operating Expenses actually paid by Tenant during
a given Operating Year exceeds Tenant's actual liability for such Operating
Year, the excess shall be credited against the Estimated Operating Expenses
first due from Tenant during the immediately subsequent Operating Year, except
that in the event that such excess is paid by Tenant during the final Operating
Year during the Term, then upon the expiration of the Term, Landlord or Agent
shall pay Tenant the then applicable excess promptly after determination
thereof, provided that there are no amounts due and owing by Tenant to Landlord.
In the event that any item of Operating Expenses has not been included in
Tenant's Estimated Operating Expenses payments, Landlord shall have the right to
bill Tenant for any such cost incurred, and Tenant shall pay to Landlord the
invoiced amount within fourteen (14) days of Landlord's written demand
therefore. Landlord, for the purpose of paying for required replacements to the
roof and macadam in the parking areas of the ("Reserve Expenses") will establish
a reserve (the "Replacement Reserve") to which Tenant, simultaneously with the
payment of Estimated Additional Rent each month, shall contribute a monthly
deposit in the

                                       3
<PAGE>
amount of $415.08 per month with $103.77 being applied to the Replacement
Reserve for the macadam in the parking areas and $311.31 being applied to the
Reserve for the replacement of the roof. Such deposits shall be applied on
account of Reserve Expenses incurred by Landlord during the Term as provided in
Section 13.2(b). Upon the expiration or sooner termination of the Lease,
Landlord shall retain such deposits to fund Reserve Expenses incurred after the
Term. No interest shall be payable to Tenant on account of payments of Estimated
Operating Expenses or deposits to the Maintenance Reserve, and such payments may
be commingled.

      Landlord shall keep and make available to Tenant expense statement records
in reasonable detail of the Operating Expenses for each Operating Year with
backup. Landlord shall keep such records for a period of twelve (12) months
after delivery of the applicable expense statement. Each such annual statement
shall be conclusive and binding on Tenant unless Tenant shall dispute the
correctness of such statement within twelve (12) months after delivery of the
same to Tenant.

              2.3.2. OPERATING YEAR. The term "Operating Year" shall mean the
calendar year commencing January 1st of each year (including the calendar year
within which the Commencement Date occurs) during the Term.

            2.4. COVENANTS CONCERNING RENTAL PAYMENTS. Tenant shall pay the Rent
promptly when due, without notice or demand, and without any abatement,
deduction or setoff, except as may otherwise be expressly and specifically
provided in this Lease. No payment by Tenant, or receipt or acceptance by Agent
or Landlord, of a lesser amount than the correct Rent shall be deemed to be
other than a payment on account, nor shall any endorsement or statement on any
check or letter accompanying any payment be deemed an accord or satisfaction,
and Agent or Landlord may accept such payment without prejudice to its right to
recover the balance due or to pursue any other remedy available to Landlord. If
the Commencement Date occurs on a day other than the first day of a calendar
month, the Rent due for the first calendar month of the Term shall be prorated
on a per diem basis and paid to Landlord on the Commencement Date, and the Term
will be extended to terminate on the last day of the sixtieth (60th) calendar
month following the Commencement Date, and the Expiration Date shall be adjusted
accordingly.

      3. TAXES. Tenant agrees to pay as an Operating Expense (i) all
governmental taxes, assessments, fees and charges of every kind or nature (other
than Landlord's income and similar taxes or excise taxes), whether general,
special, ordinary or extraordinary, due at any time or from time to time, during
the Term and any extensions thereof, in connection with the ownership, leasing,
or operation of the Premises, or of the personal property and equipment located
therein or used in connection therewith; and (ii) any reasonable expenses
incurred by Landlord in contesting such taxes or assessments and/or the assessed
value of the Premises (the "Taxes"). As provided in Section 2.3.1, Taxes are
included within Operating Expenses; therefore, when and as Tenant pays Estimated
Operating Expenses, those estimated monthly payments shall include monthly
estimated installments of Taxes. The Taxes for the first and last years of the
Term will be appropriately prorated. If any special assessments levied against
the Premises are payable in installments (which Landlord shall take advantage
of, if available), Tenant shall be responsible only for those installments that
are due and payable during the Term. For purposes hereof, Taxes for any year
shall be Taxes that are due for payment or paid in that year rather than Taxes
that are assessed, become a lien, or accrue during such year. Landlord agrees to
pay all Taxes before they are delinquent and to take advantage of applicable tax
abatement or deferral programs, and any penalties or interest for non-payment or
late payment will not be deemed Operating Expenses. Landlord hereby agrees that
it shall review Taxes on an annual basis and shall make a bona fide
determination as to the advisability of filing a tax appeal for such Operating
Year and, upon Tenant's request, shall convey to Tenant such determination and
the reasoning therefor. Landlord will give Tenant prompt notice of any refunds
to be received by Landlord on account of an overpayment in Taxes and will,
promptly upon receipt, pay same to Tenant.

                                       4
<PAGE>
      4. USE OF PREMISES; SIGNAGE; SECURITY DEPOSIT.

            4.1. USE OF PREMISES. The Premises shall be used by Tenant for the
purpose(s) set forth in Section 1.6 above and for no other purpose whatsoever.
Tenant shall not, at any time, use or occupy, or suffer or permit anyone to use
or occupy, the Premises, or do or permit anything to be done in the Premises, in
any manner that may (a) violate any Certificate of Occupancy for the Premises;
(b) cause, injury to, or in any way materially impair the value or proper
utilization of, all or any portion of the Premises (including, but not limited
to, the structural elements of the Building, as defined in Exhibit A) or any
equipment, facilities or systems therein; (c) constitute a violation of the laws
and requirements of any public authority or the requirements of insurance bodies
or the rules and regulations of the Premises, including any covenant, condition
or restriction affecting the Premises and of which Tenant has been made aware;
(d) exceed the load bearing capacity of the floor of the Building; or (e)
materially impair the appearance of the Premises. Tenant may not utilize any
portion of the Premises for outside storage of any equipment, raw materials,
pallet storage or staging, finished products or any other personal property of
Tenant. Notwithstanding the foregoing, Tenant will have the right, at its
expense (but without the payment of any Additional Rent), to install antennae or
microwave dishes on the roof or exterior of the Premises in areas reasonably
approved by Landlord, provided Tenant does so in a good and workmanlike manner
in accordance with all applicable laws, rules regulations using reputable
contractors (it being understood that Tenant shall be required to utilize
Landlord's roofing contractor), and provided further that Tenant maintain same
in accordance with the provisions of this Lease and remove same at the end of
the Term, repairing any damage caused by such removal. On or prior to the date
hereof, Tenant has completed and delivered for the benefit of Landlord a "Tenant
Operations Inquiry Form" in the form attached hereto as Exhibit D describing the
nature of Tenant's proposed business operations at the Premises, which form is
intended to, and shall be, relied upon by Landlord.

            4.2. SIGNAGE. Tenant shall not affix any sign of any size or
character to any portion of the Premises, without prior written approval of
Landlord, which approval shall not be unreasonably withheld or delayed.
Notwithstanding the foregoing, Tenant shall have the right to use up to the top
60% of the existing pylon sign at the Premises, with Landlord having the right
to use the remaining portion of the pylon sign below. Tenant shall have the
right to place a sign on the front door of the Premises, at Tenant's sole cost
and expense, subject to Landlord's approval and to the applicable rules and
regulations of all governmental boards and bureaus having jurisdiction over the
Property. Any other signs placed on the Property by Tenant, after reasonable
approval by Landlord, shall be installed by Landlord's designated sign company.
Tenant shall remove all signs of Tenant upon the expiration or earlier
termination of this Lease and immediately repair any damage to the Premises
caused by, or resulting from, such removal. Except for "for sale" and/or, to the
extent contemplated under Section 16, "for lease" signs, Landlord shall not
install additional signage at the Premises during the Term without Tenant's
reasonable prior approval.

            4.3. SECURITY/DAMAGE DEPOSIT. As an express condition of the within
lease, the Tenant shall deposit with the Landlord the following security (the
"Security") which shall be held during the Term to guarantee the faithful
performance by Tenant of Tenant's lease obligations as herein provided, which
security shall be in the aggregate amount of NINE HUNDRED THOUSAND AND 00/100
($900,000.00) DOLLARS to be deposited as follows: Cash in the amount of FOUR
HUNDRED FIFTY THOUSAND AND 00/100 ($450,000.00) DOLLARS (the "Cash Security"),
together with an irrevocable and unconditional letter of credit in the amount of
FOUR HUNDRED FIFTY THOUSAND AND 00/100 ($450,000.00) DOLLARS from J.P. Morgan
Chase & Co. or another recognized banking institution reasonably approved by
Landlord, located north of Route 78, within the State of New Jersey, or in the
City of New York. On June 1, 2002, Tenant shall deliver to Landlord the letter
of credit and cash in the amount of TWO HUNDRED SEVENTEEN THOUSAND FIVE HUNDRED
FIFTY FOUR AND 00/100 ($217,554.00) DOLLARS. The remainder of the Security shall
be deposited as follows: ONE HUNDRED THOUSAND AND 00/100 ($100,00000) DOLLARS in
cash shall be deposited with Landlord on or before December 31, 2002; ONE
HUNDRED THIRTY TWO THOUSAND FOUR HUNDRED FORTY SIX AND 00/100 ($132,446.00)
DOLLARS will be

                                       5
<PAGE>
deposited with Landlord on or before February 15, 2003. The letter of credit
shall be payable upon sight draft, together with a certification of Landlord
that Tenant is in default uncured pursuant to the terms and conditions of the
lease. The Tenant shall be obligated to renew and furnish to Landlord evidence
of the renewal of the letter of credit at least thirty (30) days prior to the
effective expiration thereof. If such renewal is not furnished by Tenant to
Landlord within thirty (30) days of the expiration date of the letter of credit,
Landlord shall have the unrestricted right to cash the letter of credit and to
retain the proceeds as security hereunder in accordance with the terms and
conditions as herein provided. Landlord agrees to deposit the Cash Security in a
segregated, interest bearing bank account. Interest earned on the Cash Security
shall be for Tenant's account, and within thirty (30) days after notice from
Tenant to Landlord given at any time after the commencement of an Operating Year
(but no more often than once in any Operating Year), Landlord shall pay to
Tenant the then-accrued interest on the Cash Security (along with reasonable
evidence of the amount thereof). During the continuance of an Event of Default,
Landlord or Agent may, without notice to Tenant, apply all or any part of the
Security, to the extent required for the payment of any Rent or other sums due
from Tenant hereunder, in addition to any other remedies available to Landlord.
In the event the Security is so applied, Tenant shall, upon demand, immediately
deposit with Landlord or Agent a sum equal to the amount so used, by certified
or bank cashier's check. The Security (or any balance thereof) shall be returned
to Tenant within 30 days after the last to occur of (i) the date the Term
expires or terminates, (ii) delivery to Landlord of possession of the Premises,
in accordance with the terms and of this Lease, or (iii) delivery to landlord of
evidence of compliance with ISRA, as hereinafter defined. Landlord may deliver
the Security to any purchaser of Landlord's interest in the Premises, and
thereupon Landlord and Agent shall be discharged from any further liability with
respect to the Security. Tenant covenants and agrees that it will not assign,
pledge, hypothecate, mortgage or otherwise encumber the aforementioned security
during the term of this Lease.

      5. CONDITION AND DELIVERY OF PREMISES.

            5.1. CONDITION OF PREMISES. Tenant agrees that Tenant is familiar
with the condition of the Premises, and Tenant hereby accepts the foregoing on
an "AS-IS," "WHEREAS" basis. Tenant acknowledges that neither Landlord nor Agent
nor any representative of Landlord has made any representation as to the
condition of the foregoing or the suitability of the foregoing for Tenant's
intended use. Tenant represents and warrants that Tenant has made its own
inspection of the foregoing. Neither Landlord nor Agent shall be obligated to
make any repairs, replacements or improvements (whether structural or otherwise)
of any kind or nature to the foregoing in connection with, or in consideration
of, this Lease, except as expressly contemplated in this Lease (which includes
those items, if any, specifically described in Exhibit B attached hereto
("Landlord Work Items").

            5.2. DELAY IN COMMENCEMENT. Landlord shall not be liable to Tenant
if Landlord does not deliver possession of the Premises to Tenant on the
anticipated Commencement Date. The obligations of Tenant under the Lease shall
not be affected thereby, except that the Commencement Date shall be delayed
until Landlord delivers possession of the Premises to Tenant. In the event that
Abbott Laboratories, Inc. ("Abbott"), the current occupant of the Premises, does
not vacate and surrender the same to Landlord prior to the Commencement Date
hereunder, Landlord agrees that it shall promptly prepare and file a summary
dispossess proceeding, so as to cause the eviction of Abbott at the earliest
possible time. Landlord shall diligently prosecute such action to conclusion.

            5.3. TENANT'S RESTORATION OBLIGATION. Prior to the expiration of the
Lease Term, Tenant shall have the obligation to restore the Premises to the
condition set forth on the plan which is annexed hereto and made a part hereof
as Exhibit "E". Tenant shall perform such work at its sole cost and expense.
Upon completion of such restoration, Tenant shall deliver a certificate of
occupancy for the Premises to the Landlord. Landlord and Tenant have agreed that
the cost of such restoration shall be deemed to be the amount of SIX HUNDRED
SIXTY SEVEN THOUSAND FIVE HUNDRED FIFTY FOUR AND 00/100 ($667,554.00) DOLLARS
(the "Restoration Cost"). In the event that Tenant does not perform the
restoration work required

                                       6
<PAGE>
by the Section 5.3 and deliver a certificate of occupancy to Landlord as
aforesaid, Landlord shall be entitled, as its sole remedy, to retain the
Restoration Cost as liquidated damages out of the Security being held by
Landlord under Section 4.3 hereof.

      6. SUBORDINATION; NOTICES TO SUPERIOR LESSORS AND MORTGAGEES; ATTORNMENT.

            6.1. SUBORDINATION. Landlord hereby represents and warrants to
Tenant that as of the commencement of the Term, Landlord shall be the record
owner of the Premises and that, as of the date hereof, there is no (a) ground
lease or underlying lease affecting the Premises; or (b) any mortgage or deed of
trust placed upon and encumbering, any or all of (x) the Premises; (y) any
ground lease or underlying lease for the benefit of the Premises; or (z) all or
any portion of Landlord's interest or estate in any of said items (collectively,
"Superior Interests"). Landlord shall obtain, from the holders of all future
Superior Interests, a Subordination, Non-Disturbance and Attornment Agreement
for the benefit of Tenant; any such Subordination, Non-Disturbance and
Attornment Agreement shall be written on the standard form utilized by the
holder of such Superior Interests, and shall provide generally that the holder
of such Superior Interests will not disturb Tenants possession upon a default or
foreclosure of such Superior Interests. Notwithstanding the foregoing, Landlord
shall have the right to subordinate (or cause to be subordinated) any such
ground leases or underlying leases for the benefit of the Premises, or any such
mortgage or deed of trust liens, to this Lease. Tenant shall execute and
deliver, upon demand by Landlord and in the form reasonably requested by
Landlord, any additional documents evidencing the priority of subordination of
this Lease with respect to any such ground leases or underlying leases or any
such mortgage or deed of trust, provided Tenant's rights and obligations are not
materially, adversely affected hereunder.

            6.2. ESTOPPEL CERTIFICATES. Each party agrees, from time to time and
within 10 days after request by the other, to deliver to the other, or its
designee, an estoppel certificate stating such factual matters pertaining to
this Lease as may be reasonably requested by the requesting party. Failure by
the party to timely execute and deliver such certificate shall constitute an
acceptance of the Premises and acknowledgment by such party that the statements
included therein are true and correct without exception. Landlord and Tenant
intend that any statement delivered pursuant to this section may be relied upon
by any prospective purchaser or mortgagee of the Premises or of any interest
therein or any other interested party.

            6.3. TRANSFER FOR LANDLORD. In the event of a sale or conveyance by
Landlord of the Premises and provided Landlord transfers the Security to the
transferee and the transferee assumes all of Landlord's obligations hereunder
(including, without limitation, return of the Security), the same shall operate
to release Landlord from any future liability for any of the covenants or
conditions, express or implied, herein contained in favor of Tenant, and in such
event Tenant agrees to look solely to Landlord's successor in interest with
respect thereto and agrees to attorn to such successor.

            7. QUIET ENJOYMENT. Subject to the provisions of this Lease, so long
as no Event of Default has occurred and is continuing (and then only to the
extent expressly permitted by Laws), Tenant shall not be disturbed in its
possession of the Premises by Landlord, Agent or any other person lawfully
claiming through or under Landlord. This covenant shall be construed as a
covenant running with the Premises and is not a personal covenant of Landlord.
Neither party shall unreasonably interrupt, delay, prevent or hinder the
performance any of the obligations of the other party hereunder. Notwithstanding
the foregoing, however, Tenant acknowledges and agrees that Landlord shall have
the unfettered and unilateral right, in accordance with all applicable
provisions of this Lease, to subject portions of the Premises (but not the
interior of the Building) to easements or similar encumbrances for such purposes
and uses as Landlord may desire; provided, however, that in all events and under
all circumstances, any such encumbrance shall not interfere, in any material
respect, with any or all of (a) Tenant's rights to occupy and use the Premises
(in the manner and for the purposes contemplated hereunder); (b) Tenant's right
to utilize the vehicular parking areas located on the Premises; and (c) Tenant's
right of access, ingress and egress to and from the Premises.

                                       7
<PAGE>
      8. ASSIGNMENT, SUBLETTING AND MORTGAGING

            8.1. PROHIBITION. Tenant acknowledges that this Lease and the Rent
due under this Lease have been agreed to by Landlord in reliance upon Tenant's
reputation and creditworthiness and upon the continued operation of the Premises
by Tenant for the particular use described in Section 4.1 above; therefore,
except as hereinafter provided, Tenant shall not, whether voluntarily, or by
operation of law, or otherwise: (a) assign or otherwise transfer this Lease; (b)
sublet the Premises or any part thereof, or allow the same to be used or
occupied by anyone other than Tenant; or (c) mortgage, pledge, encumber, or
otherwise hypothecate this Lease or the Premises, or any part thereof, in any
manner whatsoever, without in each instance obtaining the prior written consent
of Landlord, which consent may be given or withheld in Landlord's sole, but
reasonable, discretion. Any purported assignment, mortgage, transfer, pledge or
sublease made without the prior written consent of Landlord (or otherwise in
accordance with this Lease) shall be absolutely null and void. No assignment of
this Lease shall be effective and valid unless and until the assignee executes
and delivers to Landlord any and all documentation reasonably required by
Landlord in order to evidence assignee's assumption of all obligations of Tenant
hereunder. Any required consent by Landlord to a particular assignment, sublease
or mortgage shall not constitute consent or approval of any subsequent
assignment, sublease or mortgage, and Landlord's written approval shall be
required in all such instances. No consent by Landlord to any assignment or
sublease shall be deemed to release Tenant from its obligations hereunder and
Tenant shall remain fully liable for performance of all obligations under this
Lease. Notwithstanding the provisions of this Section 8.1 to the contrary,
Tenant shall have the right, without Landlord consent and free of Landlord's
recapture right set forth in Section 8.4, to sublease in one or more
transactions up to 35% of the rentable square footage of the Premises, subject
to Tenant's delivery to Landlord of an executed counterpart of any such sublease
(which shall be made expressly subject and subordinate to this Lease) within 30
days after the commencement date of the term thereof. Tenant shall obtain any
required municipal approval for any such assignment or subletting.

            8.2. RIGHTS OF LANDLORD. If this Lease is assigned, or if the
Premises (or any part thereof) are sublet or used or occupied by anyone other
than Tenant, whether or not in violation of this Lease, Landlord or Agent may
(without prejudice to, or waiver of its rights), collect Rent from the assignee,
subtenant or occupant. Landlord or Agent may apply the net amount collected to
the Rent herein reserved, but no such assignment, subletting, occupancy or
collection shall be deemed a waiver of any of the provisions of this Section 8.
With respect to the allocable portion of the Premises sublet, in the event that
the total rent and any other considerations received under any sublease by
Tenant is greater than the total Rent required to be paid, from time to time,
under this Lease, Tenant shall pay to Landlord fifty percent (50%) of the excess
of such amount over (i) the Rent plus (ii) the reasonable costs and expenses
(including, without limitation, brokerage expenses and professional fees)
incurred by Tenant in connection with such transaction, and such amount shall be
deemed a component of the Additional Rent.

            8.3. PERMITTED TRANSFERS. The provisions of Section 8.1(a) shall
apply to a transfer of a majority (i.e. greater than 50% interest) of the voting
stock of Tenant or to any other change in voting control of Tenant (if Tenant is
a corporation), or to a transfer of a majority of the general partnership or
membership interests in Tenant (if Tenant is a partnership or a limited
liability company) or to any comparable transaction involving any other form of
business entity, whether effectuated in one or more transactions, as if such
transfer were an assignment of this Lease; but said provisions shall not apply
to such a transfer, provided, in any of such events, the successor to Tenant (or
any party remaining liable for the obligations of Tenant hereunder) (i) has a
net worth at least equal to the net worth of Tenant as of the Commencement Date
or (ii) is capable of satisfying Tenant's obligations hereunder, in Landlord's
reasonable judgment. The provisions of Section 8.1(a) shall not apply to, and
Landlord shall have no recapture right under Section 8.4 with respect to, any
transactions with an entity into or with which Tenant is merged or consolidated
or to which substantially all of Tenant's assets are transferred or to any
"related party" to Tenant (defined as an entity which controls, is controlled
by, or is under common control with Tenant), provided such successor entity (i)
has a net worth at least equal to the net worth of Tenant as of the Commencement
Date or (ii) is capable of satisfying Tenant's obligations

                                       8
<PAGE>
hereunder, in Landlord's reasonable judgment. In addition, Landlord acknowledges
that Tenant or a related party may pursue public offerings of stock, and
Landlord agrees that any such transaction (and subsequent transfers of stock
through a recognized stock exchange) will not be subject to Landlord approval or
Landlord's recapture right hereunder, provided that any such related party which
may succeed to the interest of Tenant hereunder (i) has a net worth at least
equal to the net worth of Tenant as of the Commencement Date or (ii) is capable
of satisfying Tenant's obligations hereunder, in Landlord's reasonable judgment.
Any such permitted transferee shall execute and deliver to Landlord any and all
documentation reasonably required by Landlord in order to evidence assignee's
assumption of all obligations of Tenant hereunder. Notwithstanding anything to
the contrary contained in this Section 8.3, in no event may Tenant assign,
mortgage, transfer, pledge or sublease this Lease to any entity whatsoever if,
at the time of such assignment, mortgage, transfer, pledge or sublease, an Event
of Default in continuing under this Lease.

            8.4. LANDLORD'S RIGHT OF RECAPTURE. Notwithstanding anything
hereinabove set forth, any request by Tenant for a required Landlord's consent
to an assignment of the Lease or a sublease of any portion of the Premises shall
clearly set forth the proposed terms of such proposed assignment or sublease and
shall constitute Tenant's offer to cancel this Lease. Landlord may accept such
offer by notice to Tenant within thirty (30) days after Landlord's receipt
thereof, in which event, this Lease shall terminate as of the end of the month
following the month in which such notice is sent (with the same effect as if
such date were the date fixed herein for the natural expiration of the Term),
Base Rent and Additional Rent shall be apportioned to such date, Tenant shall
surrender the Premises on such date as herein provided, and subject to payment
of required lease adjustments, the parties shall thereafter have no further
liability one to the other. If Landlord fails to send such notice, Tenant,
within thirty (30) days after the expiration of such Landlord's thirty (30) day
acceptance period, may assign this Lease or sublet the applicable portion of the
Premises to the proposed assignee or subtenant and upon the terms specified in
such request.

            8.5. OPTION TO RENEW PERSONAL. It is expressly understood and agreed
that the Tenant's Option to Renew, as hereinafter set forth in Section 27, shall
be personal to Tenant only, and may not be exercised by any permitted assignee
or subtenant hereunder, unless such assignee or subtenant is a permitted
successor to Tenant under Section 8.3. It is understood and agreed that Tenant's
Option to Renew shall be null and void in the event that more than thirty five
(35%) percent of the Premises have been sublet by the Tenant prior to the date
set for the exercise by Tenant of the Option to Renew hereinafter set forth.

      9. COMPLIANCE WITH LAWS.

            9.1. COMPLIANCE WITH LAWS. Tenant shall, at its sole expense
(regardless of the cost thereof), comply with all local, state and federal laws,
rules, regulations and requirements now or hereafter in force and all judicial
and administrative decisions in connection with the enforcement thereof
(collectively, "Laws"), pertaining to either or both of the Premises and the
Tenant's use thereof. Landlord represents, that as of the date hereof, it has
received no notice of violation of any Laws, and has no knowledge of such
violation. Landlord agrees that in the performance of its obligations hereunder
it shall comply with all Laws, Tenant shall, at its sole expense (regardless of
the cost thereof), comply with all Laws applicable to its obligations hereunder.
If any license or permit is required for the conduct of Tenant's business in the
Premises, Tenant, at its expense, shall procure such license prior to the
Commencement Date, and shall maintain such license or permit in good standing
throughout the Term. Each party shall give prompt notice to the other party of
any written notice it receives of the alleged violation of any Laws or
requirements of any governmental or administrative authority with respect to
either or both of the Premises and the use or occupation thereof. The judgment
of any court of competent jurisdiction, or the admission of a party in any
action or proceeding against Such party, whether the other is a party thereto or
not, that any such Law pertaining to the Premises has been violated, shall be
conclusive of that fact as between Landlord and Tenant.

                                       9
<PAGE>
            9.2. (A) HAZARDOUS MATERIALS. Landlord hereby represents and
warrants to Tenant that as of the Commencement Date there are no underground
storage tanks at the Premises and that Landlord is not aware of any asbestos in
the Building or any non-compliance of the Premises with Environmental Laws (as
hereinafter defined). As between Landlord and Tenant, Landlord shall be
responsible for the illegal presence of Hazardous Materials at the Premises
prior to the Commencement Date (unless arising from Tenant's actions) and for
the illegal presence of any Hazardous Materials during the Term caused by
Landlord. If, at any time or from time to time during the Term (or any extension
thereof) any Hazardous Material (defined below) is generated, transported,
stored, used, treated or disposed of at, to, from, on or in the Premises by, or
as a result of any act or omission of, any or all of Tenant and any or all of
Tenant's Parties (defined below): (i) Tenant shall, at its own cost, at all
times comply (and cause all others to comply) with all laws (federal, state or
local) relating to Hazardous Materials, including, but not limited to, all
Environmental Laws (defined below), and Tenant shall further, at its own cost,
obtain and maintain in full force and effect at all times all permits and other
approvals required in connection therewith; (ii) Tenant shall promptly provide
Landlord or Agent with complete copies of all communications, permits or
agreements with, from or issued by any governmental authority or agency
(federal, state or local) or any private entity relating in any way to the
presence, release, threat of release, or placement of Hazardous Materials on or
in the Premises, or the generation, transportation, storage, use, treatment, or
disposal at, on, in or from the Premises, of any Hazardous Materials; (iii)
Landlord, Agent and their respective agents and employees shall have the right
to either or both (provided same is in accordance with other applicable
provisions of this Lease) (a) enter the Premises and (b) conduct, at its
expense, appropriate tests for the purposes of ascertaining Tenant's compliance
with all applicable Laws (including Environmental Laws), rules or permits
relating in any way to the generation, transport, storage, use, treatment,
disposal or presence of Hazardous Materials on, at, in or from the Premises or
any portion thereof; and (iv) upon written request by Landlord or Agent,
provided that Landlord has a reasonable basis to believe that Hazardous
Materials exist at the Premises, Tenant shall provide Landlord with the results
of reasonably appropriate tests of air, water or soil to demonstrate that Tenant
complies with all applicable Laws relating in any way to the generation,
transport, storage, use, treatment, disposal or presence of Hazardous Materials
on, at, in or from the Premises or any portion thereof. This Section 9.2 does
not authorize the generation, transportation, storage, use, treatment or
disposal, of any Hazardous Materials at, to, from, on or in the Premises other
than in accordance with all Environmental Laws. Tenant covenants to investigate,
clean up and otherwise remediate, at Tenant's sole expense, any release of
Hazardous Materials caused, contributed to or created by any or all of (A)
Tenant and (B) any or all of Tenant's officers, directors, members, managers,
partners, invitees, agents, employees, contractors or representatives ("Tenant's
Parties") during the Term. Such investigation and remediation shall be performed
only after Tenant has obtained Landlord's prior written consent; provided,
however, that Tenant shall be entitled to respond immediately to an emergency
without first obtaining such consent. All remediation shall be performed in
strict compliance with Environmental Laws and to the reasonable satisfaction of
Landlord. Tenant shall be liable for any and all conditions covered hereby, and
for all costs relating thereto, that are caused or created by any or all of
Tenant and Tenant's Parties. Tenant shall not enter into any settlement
agreement, consent decree or other compromise with respect to any claims
relating to any Hazardous Materials in any way connected to the Premises without
first obtaining Landlord's written consent (which consent may be given or
withheld in Landlord's sole, but reasonable, discretion) and affording Landlord
the reasonable opportunity to participate in any such proceedings. As used
herein, the term (x) "Environmental Laws" shall mean any and all Laws pertaining
to Hazardous Materials or that otherwise deal with or relate to air or water
quality, air emissions, soil or ground conditions or other environmental matters
of any kind; and (y) "Hazardous Materials" shall mean any waste, material or
substance (whether in the form of liquids, solids or gases, and whether or not
air-borne) that is or may be deemed to be or include a pesticide, petroleum,
asbestos, polychlorinated biphenyl, radioactive material, urea formaldehyde or
any other pollutant or contaminant that is or may be deemed to be hazardous,
toxic, ignitable, reactive, corrosive, dangerous, harmful or injurious, or that
presents a risk to public health or to the environment, and that is or becomes
regulated by any Environmental Law. The undertakings, covenants and obligations
under this Section 9.2 shall survive the termination or expiration of this
Lease.

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<PAGE>
            9.2 (B) ISRA. Without limiting anything hereinabove contained in
this Section 9.2, Tenant expressly covenants and agrees to fully comply with the
provisions of the New Jersey Industrial Site Recovery Act (N.J.S.A.13:1K-6, et
seq.) hereinafter referred to as "ISRA", and all regulations promulgated thereto
(or under its predecessor statute, the New Jersey Environmental Cleanup
Responsibility Act) prior to the expiration or earlier termination of this Lease
or at any time that any action of Tenant triggers the applicability of ISRA. In
particular, Tenant agrees that it shall comply with the provisions of ISRA in
the event of any "closing, terminating or transferring" of Tenant's operations,
as defined by and in accordance with the regulations which have been promulgated
pursuant to ISRA. In the event evidence of such compliance is not delivered to
Landlord prior to surrender of the Premises by Tenant to Landlord, it is
understood and agreed that the Tenant shall be liable to pay to the Landlord an
amount equal to two times the annual Base Rent then in effect, prorated on a
monthly basis, together with all applicable Additional Rent from the date of
such surrender until such time as evidence of compliance with ISRA has been
delivered to Landlord, and together with any costs and expenses incurred by
Landlord in enforcing Tenant's obligations under this Section 9.2(b). Evidence
of compliance, as used herein, shall mean a "letter of non-applicability" issued
by the New Jersey Department of Environmental Protection, hereinafter referred
to as "NJDEP", or an approved "no further action letter" or a "remediation
action workplan" which has been fully implemented and approved by NJDEP.
Evidence of compliance shall be delivered to Landlord, together with copies of
all submissions made to, and received from, the NJDEP, including all
environmental reports, test results and other supporting documentation. In
addition to the above, Tenant hereby agrees that it shall cooperate with
Landlord, at Landlord's sole cost, in the event of a transfer of any portion of
the Property, or any interest therein, which triggers the provisions of ISRA. In
such case, Tenant agrees that it shall fully cooperate with Landlord in
connection with any information or documentation which may be requested by the
NJDEP, Landlord agreeing that it shall fully comply with IRSA in such
connection. In the event that any remediation of the Property is required in
connection with the conduct by Tenant of its business in the Premises, Tenant
expressly covenants and agrees that it shall be responsible for that portion of
said remediation which is attributable to the Tenant's use and occupancy
thereof. Tenant hereby represents and warrants that its Standard Industrial
Classification No. is 2834, and that Tenant shall not generate, manufacture,
refine, transport, treat, store, handle or dispose of Hazardous Materials, as
above defined, other than in accordance with all Environmental Laws. Tenant
hereby agrees that it shall promptly inform Landlord of any change in its SIC
number or the nature of the business to be conducted in the Premises. The within
covenants shall survive the expiration or earlier termination of the Term.

      10. INSURANCE.

            10.1. INSURANCE TO BE MAINTAINED BY LANDLORD. Landlord shall
maintain, as Landlord's Insurance Policies: (a) "all-risk" property insurance
policy covering the Premises (at its full replacement cost), but excluding
Tenant's Property (defined in Section 12.2 below); and (b) commercial general
public liability insurance covering Landlord for claims arising out of liability
for bodily injury, death, personal injury, advertising injury and property
damage occurring in and about the Premises and otherwise resulting from any acts
and operations of Landlord, its agents and employees; and (c) a rent loss
insurance, all of the above with limits that are required by any lender(s) of
Landlord, or as are otherwise reasonably determined by Landlord. Landlord
represents that its current commercial general public liability insurance policy
contains limits of $1,000,000.00 per occurrence, $3,000,000.00 aggregate, and
umbrella liability insurance in the amount of $50,000,000.00.

            10.2. INSURANCE TO BE MAINTAINED BY TENANT. Tenant shall purchase,
at its own expense, and keep in force at all times during this Lease the
policies of insurance set forth below in Sections 10.2.1 and 10.2.2
(collectively, "Tenant's Insurance Policies"). All Tenant's Insurance Policies
shall (a) be issued by an insurance company with a Best rating of A-X or better
and otherwise reasonably acceptable to Landlord and shall be licensed to do
business in the state of New Jersey; (b) provide that said insurance shall not
be canceled or materially modified unless 30 days' prior written notice shall
have been given to Landlord; and (c) otherwise be in such form, and include such
coverages, as Landlord may reasonably require. All

                                       11
<PAGE>
Tenant's Insurance Policies (or, at Landlord's option, Certificates of
Insurance, in a form reasonably acceptable to Landlord, evidencing said Tenant's
Insurance Policies), shall be delivered to Landlord by Tenant upon commencement
of the Lease and renewals thereof shall be delivered at least 30 days prior to
the expiration of each Tenant's Insurance Policy. Tenant shall give prompt
notice to Landlord and Agent of any bodily injury, death, personal injury,
advertising injury or property damage occurring in and about the Property.

              10.2.1. GENERAL LIABILITY AND AUTO INSURANCE. Tenant shall
purchase and maintain, throughout the Term, a Tenant's Insurance Policy(ies) of
commercial general or excess liability insurance, including personal injury and
property damage, in the amount of not less than $2,000,000.00 per occurrence,
and $5,000,000.00 annual general aggregate, per location. The Tenant's Insurance
Policies required by this Section 10.2.1 shall (a) name Landlord, Agent, and any
party holding an interest to which this Lease may be subordinated as additional
insureds; (b) provide coverage on an occurrence basis; (c) provide coverage for
the indemnity obligations of Tenant under this Lease; (d) contain a severability
of insured parties provision and/or a cross liability endorsement; (e) be
primary, not contributing with, and not in excess of, coverage that Landlord may
carry; and (f) provide coverage with no exclusion for a pollution incident
arising from a hostile fire.

              10.2.2. PROPERTY AND WORKERS' COMPENSATION INSURANCE. Tenant shall
purchase and maintain, throughout the Term, a Tenant's Insurance Policy or
Insurance Policies of (i) "all-risk" property insurance covering Tenant's
Property (at its full replacement cost), and damage to other property resulting
from any acts or operations of Tenant, and (ii) workers' compensation insurance
per the applicable state statutes covering all employees of Tenant.

            10.3. WAIVER OF SUBROGATION. To the extent permitted by law, and
without affecting the coverage provided by insurance required to be maintained
hereunder, Landlord and Tenant each waive any right to recover against the other
for (a) damages to property, (b) damages to all or any portion of the Premises,
(c) claims arising by reason of the foregoing, to the extent such damages and
claims are insured against, or required to be insured against, by Landlord or
Tenant under this Lease, or (d) claims paid by Tenant's workers' compensation
carrier. This provision is intended to waive, fully and for the benefit of each
party, any rights and/or claims which might give rise to a right of subrogation
by any insurance carrier. The coverage obtained by each party pursuant to this
Lease shall include, without limitation, a waiver of subrogation by the carrier
which conforms to the provisions of this section.

      11. ALTERATIONS. Tenant shall not make any structural alterations or
improvements in and to the Premises or otherwise modify or replace any Building
systems (except in connection with Tenant's repair, replacement and maintenance
obligations under Section 13.1, for which Landlord's consent shall not be
required) without Landlord's prior written consent, which consent Landlord shall
not be required to give, except in its sole discretion. Tenant shall have the
right to make non-structural alterations at the Premises without Landlord's
consent, provided that Landlord will have the right to review and approve (such
approval not to be unreasonably withheld or delayed and to be limited to
confirmation that the alteration will not impact the Building's structure or
systems) plans with respect to non-structural alterations, the cost of which is
budgeted to be in excess of $10,000. In addition, Tenant shall have the right to
perform the restoration work contemplated in Section 5.3 above. Tenant shall
perform any permitted alterations in a good and workmanlike manner in accordance
with all Laws and using reputable contractors. Tenant shall not permit or cause
any construction lien to attach to the Premises or the Property. Tenant, at its
expense, shall procure the satisfaction or discharge of record or all such liens
and encumbrances within thirty (30) days after the filing thereof; or, within
such thirty (30) day period, Tenant shall provide Landlord, at Tenant's sole
expense, with endorsements (satisfactory, both in form of substance, to Landlord
and the holder of any mortgage or deed of trust) to the existing title insurance
policies of Landlord and the holder of any mortgage or deed of trust, insuring
against the existence of, and any attempt at enforcement of such lien. In the
event Tenant has not so performed, Landlord may, at its option, pay and
discharge such liens and Tenant shall be responsible to reimburse Landlord, on
demand and as Additional Rent under this Lease, for all costs and expenses
incurred in connection

                                       12
<PAGE>
therewith, together with interest thereon at the rate set forth in Section 22.3,
which expenses shall include reasonable fees of attorneys of Landlord's
choosing, and any costs in posting bond to effect discharge or release of the
lien as an encumbrance against the Premises or the Property.

      12. LANDLORD'S AND TENANT'S PROPERTY.

            12.1. LANDLORD'S PROPERTY. Subject to Section 12.2, all fixtures,
machinery, equipment, improvements and appurtenances permanently attached to, or
built into, the Premises at the commencement of, or during the Term, whether or
not placed there by or at the expense of Tenant, shall become and remain a part
of the Premises; shall be deemed the property of Landlord (the "Landlord's
Property"), without compensation or credit to Tenant; and shall not be removed
by Tenant at the Expiration Date unless Landlord requests their removal.
Further, any personal property in the Premises on the Commencement Date, movable
or otherwise, unless installed and paid for by Tenant, shall be and shall remain
the property of Landlord and shall not be removed by Tenant. In no event shall
Tenant remove (without simultaneous replacement) any of the following without
Landlord's prior written consent (which consent may be given or withheld in
Landlord's sole discretion): any power wiring or power panels, lighting or
lighting fixtures, wall or window coverings, carpets or other floor coverings,
heaters, air conditioners or any other HVAC equipment, fencing or security
gates, or other similar building operating equipment, except as contemplated in
Sections 5.3, 11 and 13.1.

            12.2. TENANT'S PROPERTY. All movable non-structural partitions,
business and trade fixtures, machinery and equipment, communications equipment
and office equipment that are installed in the Premises by, or for the account
of, Tenant and without expense to Landlord, and that can be removed without
structural damage to the Building, and all furniture, furnishings and other
articles of movable personal property owned by Tenant and located in the
Premises (collectively, the "Tenant's Property") shall be and shall remain the
property of Tenant and may be removed by Tenant at any time during the Term,
provided Tenant repairs or pays the cost of repairing any damage to the Premises
resulting from the installation and/or removal thereof. At or before the
Expiration Date, or the date of any earlier termination, Tenant, at its expense,
shall remove from the Premises all of Tenant's Property and any Alterations
(except such items thereof as constitute Landlord's Property; or as Landlord
shall have expressly permitted, in writing, to remain, which property shall
become the property of Landlord), and Tenant shall repair (to Landlord's
reasonable satisfaction) any damage to the Premises resulting from any
installation and/or removal of Tenant's Property. Any other items of Tenant's
Property that shall remain in the Premises after the Expiration Date, or
following an earlier termination date, may, at the option of Landlord, be deemed
to have been abandoned, and in such case, such items may be retained by Landlord
as its property or be disposed of by Landlord, in Landlord's sole and absolute
discretion and without accountability, at Tenant's expense, together with an
additional twenty one (21%) percent of such costs for Landlord's overhead and
profit. Notwithstanding the foregoing, if after an Event of Default Tenant
vacates the Premises or is dispossessed of possession thereof, Tenant may
thereafter remove Tenant's Property from the Premises only upon the express
written direction of Landlord.

      13. REPAIRS AND MAINTENANCE.

            13.1. TENANT REPAIRS AND MAINTENANCE. Tenant shall, at its expense,
throughout the Term, maintain and preserve, in at least the condition of the
Premises as delivered to Tenant (subject to normal and customary wear and tear
and casualty), the interior of the Premises, and the fixtures and appurtenances
therein. In addition, Tenant shall perform repairs to and replacements of the
electrical, mechanical, HVAC, and plumbing systems at the Building. Landlord
shall, at Tenant's sole but reasonable cost and expense, perform all other
structural and non-structural repairs and replacements, interior and exterior,
ordinary and extraordinary, in and to the Premises and the facilities and
systems thereof (including, but not limited to, the roof, sidewalks, driveways,
curbs, loading areas, landscaped areas and parking lot) in a good and
workmanlike manner and in accordance with all Laws. Landlord shall maintain all
structural portions of the Building (including, without limitation, the roof,
walls, columns and other structural components, floor and foundation) in good
and safe condition in accordance with all

                                       13
<PAGE>
Laws and shall maintain all exterior portions of the Premises (including,
without limitation, Building exterior, landscaping, exterior lighting, parking
areas and driveways (including snow removal), loading areas and plumbing and
utility lines and connections to the Building and to the boundary of the Land)
in good condition (subject to normal and customary wear and tear) (any such
repairs, maintenance, restoration and/or replacement activities that Landlord is
required to perform hereunder are collectively referred to as "General
Maintenance Services"). Landlord shall promptly respond to any request by Tenant
relating to General Maintenance Services. Any maintenance of the mechanical,
electrical, sanitary, HVAC, or other systems at the interior of the Premises
shall be performed, at Tenant's expense, by appropriately licensed contractors.
Tenant shall, at Tenant's sole cost and expense, maintain in full force and
effect a preventative maintenance and service contract with a reputable service
provider for maintenance of the HVAC systems serving the Premises, which
contract shall provide for a minimum of four (4) inspections per year; Tenant
shall deliver to Landlord a copy of said contract and all inspection reports
promptly upon Tenant's receipt thereof. All repairs and replacements undertaken
by or on behalf of Tenant (including, if made by Landlord) shall be made with
materials of equal or better quality than the items being repaired or replaced.
As provided in and subject to Section 2.3 above, all costs incurred by Landlord
in the provision or performance of General Maintenance Services shall constitute
Operating Expenses, and Tenant shall reimburse Landlord for the cost thereof.

            13.2. LANDLORD REPAIRS. (a) Notwithstanding anything contrary
herein, Landlord shall have no obligation to repair, maintain or replace all or
any portion of the Premises except as expressly contemplated in this Lease.

                  (b) Notwithstanding anything herein contained to the contrary,
Landlord shall be responsible, at Landlord's sole cost and expense, for all
required repairs and replacements of the exterior walls, structural steel and
foundation of the Building, provided that damage to any of the foregoing has not
been caused by the negligence or willful misconduct of the Tenant or any of
Tenant's parties (in which case Tenant shall be responsible for the cost of any
such repair or replacement). Landlord shall be responsible for the cost of any
required replacement of the roof of the Building and macadam in the parking
area, subject to reimbursement from Tenant, as hereinafter set forth. The cost
of any such replacement shall be reasonably amortized over its useful life
(calculated on a monthly basis not to exceed, in the aggregate, one hundred
twenty (120) months, together with interest at the rate of 10% per annum) and,
upon Landlord's completion of any such replacement, Tenant shall pay as an
Operating Expense (and Additional Rent) such monthly amortized amount along with
each month's payment of Base Rent. To the extent Landlord is holding Reserve
Expenses, Landlord shall apply same to the first required payments of Additional
Rent on account of any such replacement. After the completion of any replacement
to which Reserve Expenses are applied, Tenant will no longer be under an
obligation to pay Reserve Expenses (for that item only, and only for such period
of time that Tenant is paying such amortized amount) and instead shall continue
to pay the monthly amortized amount as provided above. Tenant shall only be
obligated to make monthly payments on account of a replacement of the roof or
parking area macadam with respect to the portion of the useful life thereof as
falls within the Term (as same may be extended).

      14. UTILITIES. Tenant shall purchase all utility services from the utility
or municipality providing such service; shall provide for scavenger, cleaning
and extermination services; and shall pay for such services when payments are
due. Tenant shall be solely responsible for the repair and maintenance of any
meters necessary in connection with such services. Tenant's use of electrical
energy in the Premises shall not, at any time, exceed the capacity of either or
both of (i) any of the electrical conductors and equipment in or otherwise
servicing the Premises; and (ii) the HVAC systems of the Building. Landlord
represents, as of the date hereof, that utility services (electric, water,
sewer, gas and telecommunications) are available to the Building.

      15. INVOLUNTARY CESSATION OF SERVICES. Landlord reserves the right,
without any liability to Tenant and without affecting Tenant's covenants and
obligations

                                       14
<PAGE>
hereunder, to stop service of any or all of the HVAC, electric, sanitary,
elevator (if any), and other systems serving the Premises, or to stop any other
services required by Landlord under this Lease, whenever and for so long as may
be necessary by reason of (i) accidents, emergencies, strikes, or the making of
repairs or changes which Landlord or Agent in good faith deems necessary or (ii)
any other cause beyond Landlord's reasonable control. Further, it is also
understood and agreed that Landlord or Agent shall have no liability or
responsibility for a cessation of services to the Premises that occurs as a
result of causes beyond Landlord's or Agent's reasonable control. No such
interruption of service shall be deemed an eviction or disturbance of Tenant's
use and possession of the Premises or any part thereof, or render Landlord or
Agent liable to Tenant for damages, or relieve Tenant from performance of
Tenant's obligations under this Lease, including, but not limited to, the
obligation to pay Rent. Landlord will give Tenant reasonable prior oral notice
before performing any such repair or maintenance (unless an emergency) and will
perform applicable repairs as quickly and with as little interference to Tenant
as practicable.

      16. LANDLORD'S RIGHTS. Landlord, Agent and their respective agents,
employees and representatives shall have the right to enter and/or pass through
the Premises at any time or times upon reasonable prior notice (except in the
event of emergency): (a) to examine and inspect the Premises and to show them to
actual and prospective lenders, prospective purchasers or mortgagees of the
Premises or providers of capital to Landlord and its affiliates; and (b) to make
such repairs, alterations, additions and improvements in or to the Premises or
its facilities and equipment as Landlord is required to make. Unless an
emergency, a representative of Tenant shall accompany Landlord and other parties
entering or passing through the Premises. Landlord and Agent shall be allowed to
take all materials into and upon the Premises that may be required in connection
with the General Maintenance Services and any repairs, alterations, additions or
improvements, without any liability to Tenant and without any reduction or
modification of Tenant's covenants and obligations hereunder; provided, however,
that Landlord shall use reasonable efforts to limit interference with Tenant's
business operations and Tenant's occupancy and use of the Premises. During the
period of nine (9) months prior to the Expiration Date (or at any time, if
Tenant has vacated or abandoned the Premises or if an Event of Default is
continuing under this Lease), Landlord and its agents may exhibit the Premises
to prospective tenants and erect a "For Lease" sign thereon. Additionally,
Landlord shall have the following rights with respect to the Premises,
exercisable without notice to Tenant, without liability to Tenant, and without
being deemed an eviction or disturbance of Tenant's use or possession of the
Premises or giving rise to any claim for setoff or abatement of Rent: (i) to
have pass keys, access cards, or both, to the Premises; and (ii) to decorate,
remodel, repair, alter or otherwise prepare the Premises for reoccupancy during
the last ninety (90) days of the Term, provided that, during or prior to that
time, Tenant shall have vacated the Premises, and provided further that such
shall be at Landlord's sole cost and liability.

      17. NON-LIABILITY AND INDEMNIFICATION.

            17.1. NON-LIABILITY. Except as provided in Section 17.2.2, none of
Landlord, Agent, any other managing agent, or their respective affiliates,
owners, partners, directors, officers, agents and employees shall be liable to
Tenant for any loss, injury, or damage, to Tenant or to any other person, or to
its or their property, irrespective of the cause of such injury, damage or loss.
Further, except as provided in Section 17.2.2, none of Landlord, Agent, any
other managing agent, or their respective affiliates, owners, partners,
directors, officers, agents and employees shall be liable (a) for any damage
caused by other persons in, upon or about the Premises, or caused by operations
in construction of any public or quasi-public work; (b) with respect to matters
for which Landlord is liable, for consequential or indirect damages; (c) any
latent defect in the Premises; (d) injury or damage to person or property caused
by fire, or theft, or resulting from the operation of heating or air
conditioning or lighting apparatus, or from falling plaster, or from steam, gas,
electricity, water, rain, snow, ice, or dampness, that may leak or flow from any
part of the Premises, or from the pipes, appliances or plumbing work of the
same. Notwithstanding the foregoing, Landlord shall be liable for injury to
persons or damage to property (except for Tenant's Property) which is caused by
the negligence or willful misconduct

                                       15
<PAGE>
of Landlord or Landlord's agents, servants or employees.  Landlord shall
not be liable for any damage to Tenant's Property, regardless of cause.

      17.2. INDEMNIFICATION.

            17.2.1. TENANT INDEMNIFICATION. Tenant hereby indemnifies, defends,
and holds Landlord, Agent and their respective affiliates, owners, partners,
directors, officers, agents and employees (collectively, "Landlord Indemnified
Parties") harmless from and against any and all Losses (defined below) arising
from or in connection with any or all of (a) the conduct or management of the
Premises or any business therein, or any work or Alterations done, or any
condition created in any such case by any or all of Tenant and Tenant's Parties
in or about the Premises during the Term or during the period of time, if any,
prior to the Commencement Date that Tenant is given access to the Premises; (b)
any act, omission or negligence of any or all of Tenant and Tenant's Parties;
(c) any accident, injury or damage whatsoever (unless caused by Landlord's
negligence, subject however to any applicable doctrine of comparative or
contributory negligence) occurring in, at or upon the Premises caused by any or
all of Tenant and Tenant's Parties; (d) any breach by Tenant of any of its
warranties and representations under this Lease; (e) any actions necessary to
protect Landlord's interest under this Lease in a bankruptcy proceeding or other
proceeding under the Bankruptcy Code; (f) any violation or alleged violation by
any or all of Tenant and Tenant's Parties of any Law including, without
limitation, any Environmental Law; (g) any breach of the provisions of Section 9
by any or all of Tenant and Tenant's Parties; (h) claims for work or labor
performed or materials supplies furnished to, or at the request of, any or all
of Tenant and Tenant's Parties; (i) claims arising from any breach or default on
the part of Tenant in the performance of any covenant contained in this Lease;
(j) any Hazardous Materials used, exposed, emitted, released, discharged,
generated, manufactured, sold, transported, handled, stored, treated, reused,
presented, disposed of or, recycled in, at, near or under all or any portion of
the Premises as a result of the acts or omissions of any or all of Tenant and
Tenant's Parties other than in accordance with this Lease; and (k) the violation
of any Environmental Law or any permit, application or consent required in
connection with any Environmental Law by any or all of Tenant and Tenant's
Parties with respect to the Premises during the Term, excluding, however, any
violation of Environmental Law resulting directly from the acts or omissions of
any or all of Landlord and Landlord's employees, agents and contractors
(collectively, "Tenant's Indemnified Matters"). In case any action or proceeding
is brought against any or all of Landlord and the Landlord Indemnified Parties
by reason of any of Tenant's Indemnified Matters, Tenant, upon notice from any
or all of Landlord, Agent or any Superior Party (defined below), shall resist
and defend such action or proceeding by counsel reasonably satisfactory to,
Landlord. The term "Losses" shall mean all claims, demands, expenses, actions,
judgments, damages (actual, but not consequential), penalties, fines,
liabilities, losses of every kind and nature (including, without limitation,
property damage, diminution in value of Landlord's interest in the Premises,
damages for the loss or restriction on use of any space or amenity within the
Premises, damages arising from any adverse impact on marketing space in the
Premises, sums paid in settlement of claims and any costs and expenses
associated with injury, illness or death to or of any person), suits,
administrative proceedings, costs and fees, including, without limitation,
attorneys' and consultants' reasonable fees and expenses, and the costs of
cleanup, remediation, removal and restoration, that are in any way related to
any matter covered by the foregoing indemnity. The provisions of this Section
17.2.1 shall survive the expiration or termination of this Lease.

            17.2.2. LANDLORD INDEMNIFICATION. Landlord hereby indemnifies,
defends and holds Tenant and its affiliates, owners, partners, directors,
officers, agents and employees harmless from and against any and all Losses
arising from or in connection with any or all of (a) the conduct or management
of the Premises or any business therein, or any work or Alterations done, or any
condition created in any such case by any or all of Landlord or Landlord's
officers, directors, members, managers, partners, invitees, agents, employees,
contractors or representatives (collectively, "Landlord's Parties") in or about
the Premises during, prior to or after the Term; (b) any act, omission or
negligence of any or all of Landlord and Landlord's Parties; (c) any accident,
injury or damage whatsoever (unless caused by Tenant's negligence, subject
however to any applicable doctrine of comparative or contributory negligence)
occurring

                                       16
<PAGE>
in, at or upon the Premises caused by any or all of Landlord or Landlord's
Parties; (d) any breach by Landlord of any of its warranties and representations
under this Lease; (e) any actions necessary to protect Tenant's interest under
this Lease in a bankruptcy proceeding or other proceeding under the Bankruptcy
Code; (f) any violation or alleged violation by any or all of Landlord or
Landlord's Parties of any Law including, without limitation, any Environmental
Law; (g) any breach of the provisions of Section 9 by any or all of Landlord or
Landlord's Parties; (h) claims for work or labor performed or materials supplies
furnished to, or at the request of, any or all of Landlord and Landlord's
Parties; (i) claims arising from any breach or default on the part of Landlord
in the performance of any covenant contained in this Lease; (j) any Hazardous
Materials used, exposed, emitted, released, discharged, generated, manufactured,
sold, transported, handled, stored, treated, reused, presented, disposed of or
recycled in, at, near or under all or any portion of the Premises as a result of
the acts or omissions of any or all of Landlord or Landlord's Parties other than
in accordance with this Lease; and (k) the violation of any Environmental Law or
any permit, application or consent required in connection with any Environmental
Law by any or all of Landlord and Landlord's Parties with respect to the
Premises during the Term, excluding, however, any violation of Environmental Law
resulting directly from the acts or omissions of any or all of Tenant and
Tenant's employees, agents and contractors (collectively, "Landlord's
Indemnified Matters"). In the event that any action or proceeding is brought
against Tenant, and the foregoing indemnity is applicable to such action or
proceeding, then Landlord, upon notice from Tenant, shall resist and defend such
action or proceeding by counsel reasonably satisfactory to Tenant.
Notwithstanding anything to the contrary set forth in this Lease, however, in
all events and under all circumstances, the liability of Landlord to Tenant
shall be limited to the interest of Landlord in the Premises, and Tenant agrees
to look solely to Landlord's interest in the Premises for the recovery of any
judgment or award against Landlord, it being intended that Landlord shall not be
personally liable for any judgment or deficiency. The provisions of this Section
17.2.2 shall survive the expiration or termination of this Lease.

            17.3. FORCE MAJEURE. The obligations of Tenant hereunder shall not
be affected, impaired or excused, and Landlord shall have no liability
whatsoever to Tenant, with respect to any act, event or circumstance arising out
of (a) Landlord's failure to fulfill, or delay in fulfilling any of its
obligations under this Lease by reason of labor dispute, governmental preemption
of property in connection with a public emergency or shortages of fuel,
supplies, or labor, or any other cause, whether similar or dissimilar, beyond
Landlord's reasonable control; or (b) any failure or defect in the supply,
quantity or character of utilities furnished to the Premises, or by reason of
any requirement, act or omission of any public utility or others serving the
Premises, beyond Landlord's reasonable control. The obligations of Landlord
hereunder shall not be affected, impaired or excused, and Tenant shall have no
liability whatsoever to Landlord, with respect to any act, event or circumstance
arising out of Tenant's failure to fulfill, or delay in fulfilling any of its
obligations under this Lease by reason of labor dispute, governmental preemption
of property in connection with a public emergency or shortages of fuel,
supplies, or labor, or any other cause, whether similar or dissimilar, beyond
Tenant's reasonable control. This provision shall not apply to monetary
obligations hereunder.

      18. DAMAGE OR DESTRUCTION

            18.1. NOTIFICATION AND REPAIR. Tenant shall give prompt notice to
Landlord and Agent of (a) any fire or other casualty to the Premises, and (b)
any damage to or defect in any part or appurtenance of the Property's sanitary,
electrical, HVAC, elevator or other systems located in or passing through the
Premises or any part thereof. Tenant shall be liable for any claim, loss,
damage, cost or expense resulting from Tenant's failure to give Landlord the
foregoing notice in a timely manner. Subject to the provisions of Section 18.3
below, if the Premises are damaged by fire or other insured casualty, Landlord
shall repair (or cause Agent to repair) the damage and restore and rebuild the
Premises (except for Tenant's Property) with reasonable dispatch after (x)
notice to it of the damage or destruction and (y) the adjustment of the
insurance proceeds attributable to such damage. Subject to the provisions of
Section 18.3 below, Tenant shall not be entitled to terminate this Lease and no
damages, compensation or claim shall be payable by Landlord for purported
inconvenience, loss of business or annoyance

                                       17
<PAGE>
arising from any repair or restoration of any portion of the Premises pursuant
to this Section. Landlord (or Agent, as the case may be) shall use its diligent,
good faith efforts to pursue receipt of insurance proceeds and make such repair
or restoration promptly and in such manner as not to unreasonably interfere with
Tenant's use and occupancy of the Premises, but Landlord or Agent shall not be
required to do such repair or restoration work except during normal business
hours of business days.

            18.2. RENTAL ABATEMENT. If (a) the Premises are damaged by fire or
other casualty thereby causing the Premises to be inaccessible or (b) the
Premises are partially damaged by fire or other casualty, the Rent shall be
proportionally abated to the extent of any actual loss of use of the Premises by
Tenant.

            18.3. TOTAL DESTRUCTION. If the Premises shall be totally destroyed
by fire or other casualty, or if the Premises shall be so damaged by fire or
other casualty that (in the reasonable opinion of an independent, reputable
contractor or architect designated by Landlord and retained by Landlord promptly
after the fire or casualty) its repair or restoration requires more than 150
days, Landlord and Tenant shall each have the option to terminate this Lease (by
so advising the other, in writing) within 10 days after said contractor or
architect delivers written notice of its opinion to Landlord and Tenant, but in
all events prior to the commencement of any restoration of the Premises by
Landlord. In such event, the termination shall be effective as of the date upon
which either Landlord or Tenant, as the case may be, receives timely written
notice from the other terminating this Lease pursuant to the preceding sentence.
If neither Landlord nor Tenant timely delivers a termination notice, this Lease
shall remain in full force and effect. Notwithstanding the foregoing, if (A) any
holder of Superior Interest (collectively, "Superior Parties") or other party
entitled to the insurance proceeds fails to make such proceeds available to
Landlord in an amount sufficient for restoration of the Premises, or (B) the
issuer of any casualty insurance policies on the Premises fails to make
available to Landlord (for any reason other than on account of Landlord's acts
or omissions) sufficient proceeds for restoration of the Premises, then Landlord
may, at Landlord's sole option, terminate this Lease by giving Tenant written
notice to such effect within 30 days after Landlord receives notice from the
Superior Party or insurance company, as the case may be, that such proceeds
shall not be made available, in which event the termination of this Lease shall
be effective as of the date Tenant receives written notice from Landlord of
Landlord's election to terminate this Lease. Landlord shall have no liability to
Tenant, and Tenant shall not be entitled to terminate this Lease by virtue of
any delays in completion of repairs, and restoration, unless Landlord shall not
have completed the restoration within 180 days after the casualty, in which
event Tenant shall have the right to terminate this Lease. In the event that
this Lease is terminated as contemplated in this Section 18, Tenant shall be
responsible for payment of rent only up to the date of the casualty. For
purposes of this Section 18.3 only, "full insurable value" shall mean
replacement cost, less the cost of footings, foundations and other structures
below grade.

            18.4. INSURANCE PROCEEDS. Landlord shall not be obligated to expend
in repairs and restoration an amount in excess of the proceeds of insurance
recovered with respect to any casualty. Tenant acknowledges that Landlord shall
be entitled to the full proceeds of any insurance coverage, whether carried by
Landlord or Tenant, for damage to the Premises (excluding any proceeds for
damage to Tenant's Property). In the event that the Premises are not repaired or
reconstructed, all proceeds of insurance (excluding any proceeds covering
Tenant's Property), whether carried by Landlord or Tenant, shall be payable to
Landlord. Landlord's duty to repair the Premises (excluding Tenant's Property)
is limited to repairing the Premises to the condition existing immediately prior
to such fire or other casualty.

      19. EMINENT DOMAIN. If the whole, or substantially all, of the Premises is
taken or condemned for any public use under any Law or by right of eminent
domain, or by private purchase in lieu thereof, and such taking would prevent or
materially interfere with the Permitted Use of the Premises, this Lease shall
terminate effective when the physical taking of said Premises occurs. If less
than substantially all of the Premises is so taken or condemned but such taking
would prevent or materially interfere with the Permitted Use of the Premises for
more than 60 days, Tenant shall have the right to terminate this Lease by notice
given within thirty

                                       18
<PAGE>
(30) days after the effective date of such taking. If less than substantially
all of the Premises is so taken or condemned and such taking does not prevent or
materially interfere with the Permitted Use or if the taking or condemnation
will be for less than 60 days (regardless of the portion of the Premises
affected), this Lease shall not terminate, but the Rent payable hereunder shall
be proportionally abated to the extent of any actual loss of use of the Premises
by Tenant. Landlord shall be entitled to any and all payment, income, rent or
award, or any interest therein whatsoever, which may be paid or made in
connection with such a taking or conveyance, and Tenant shall have no claim
against Landlord or the condemning authority for the value of any unexpired
portion of this Lease. Notwithstanding the foregoing, any compensation
specifically and independently awarded to Tenant for loss of business or
goodwill, or for its personal property, or for relocation expenses shall be the
property of Tenant.

      20. SURRENDER AND HOLDOVER. On the last day of the Term, or upon any
earlier termination of this Lease, or upon any legal repossession by Landlord of
the Premises, (a) Tenant shall quit and surrender the Premises to Landlord
"broom-clean" and in good order, condition and repair (as defined by Exhibit C,
attached hereto and incorporated herein by reference), except for ordinary wear
and tear and casualty, and (b) Tenant shall remove all of Tenant's Property
therefrom, except as otherwise expressly provided in this Lease, and (c) Tenant
shall surrender to Landlord any and all keys, access cards, computer codes or
any other items used to access the Premises. Landlord shall be permitted to
inspect the Premises in order to verify compliance with this Section 20 within a
reasonable time prior to (x) the Expiration Date, (y) the effective date of any
earlier termination of this Lease, or (z) the surrender date otherwise agreed to
in writing by Landlord and Tenant. Landlord and Tenant hereby agree that they
shall conduct a walk through inspection of the premises at least thirty (30)
days prior to the expiration date, at which time Landlord shall determine which
alterations and improvements will need to be removed by Landlord at Tenant's
sole cost and expense, and which shall remain. The obligations imposed under the
first sentence of this Section 20 shall survive the termination or expiration of
this Lease. If Tenant remains in possession after the Expiration Date hereof or
after any earlier termination date of this Lease or of Tenant's right to
possession: (i) Tenant shall be deemed a tenant-at-will; (ii) Tenant shall pay
200% of the aggregate of the Base Rent and Additional Rent last prevailing
hereunder, and also shall pay all actual damages sustained by Landlord, directly
by reason of Tenant's remaining in possession after the expiration or
termination of this Lease; (iii) there shall be no renewal or extension of this
Lease by operation of law; and (iv) the tenancy-at-will may be terminated by
either party hereto upon 30 days' prior written notice given by the terminating
party to the non-terminating party. The provisions of this Section 20 shall not
constitute a waiver by Landlord of any re-entry rights of Landlord provided
hereunder or by law.

      21. EVENTS OF DEFAULT.

            21.1. BANKRUPTCY OF TENANT. It shall be a default by Tenant under
this Lease if Tenant makes an assignment for the benefit of creditors, or files
a voluntary petition under any state or federal bankruptcy or insolvency law, or
an involuntary petition alleging an act of bankruptcy or insolvency is filed
against Tenant under any state or federal bankruptcy or insolvency law that is
not dismissed within 90 days, or whenever a petition is filed by or against (to
the extent not dismissed within 90 days) Tenant under the reorganization
provisions of the United States Bankruptcy Code or under the provisions of any
state or federal law of like import, or whenever a petition shall be filed by
Tenant under the arrangement provisions of the United States Bankruptcy Code or
similar state or federal law, or whenever a receiver of Tenant, or of, or for,
the property of Tenant shall be appointed, or Tenant admits it is insolvent or
is not able to pay its debts as they mature.

            21.2. DEFAULT PROVISIONS. Each of the following shall constitute
event of default ("Event of Default") by Tenant under this Lease: (a) if Tenant
fails to pay Rent or any other payment within five (5) days of the date on which
said payment is due; or (b) if Tenant fails, whether by action or inaction, to
timely comply with, or satisfy, any or all of the obligations imposed on Tenant
under this Lease (other than the obligation to pay Rent) for a period of 30 days
after Landlord's delivery to Tenant of written notice of such default under this

                                       19
<PAGE>
Section 2.1.2(b); provided, however, that if the default cannot, by its nature,
be cured within such 30 day period, but Tenant commences and diligently pursues
a cure of such default promptly within the initial 30 day cure period, then
Landlord shall not exercise its remedies under Section 22 unless such default
remains uncured for more than 60 days after the initial delivery of Landlord's
original default notice; or (c) Tenant vacates or abandons the Premises during
the Term.

            21.3. LANDLORD DEFAULT PROVISIONS. An Event of Default with respect
to Landlord shall be deemed to occur if (a) there is a misrepresentation by
Landlord hereunder, or (ii) Landlord fails, whether by action or inaction, to
timely comply with, or satisfy, any or all of the obligations imposed on
Landlord under this Lease for a period of 30 days after Tenant's delivery to
Landlord of written notice of such default under this Section 21.3; provided,
however, that if the default cannot, by its nature, be cured within such 30 day
period, but Landlord commences and diligently pursues a cure of such default
promptly within the initial 30 day cure period, then Tenant shall not exercise
any remedies unless such default remains uncured for more than 60 days after the
initial delivery of Tenant's original default notice.

      22. RIGHTS AND REMEDIES.

            22.1. LANDLORD'S CURE RIGHTS UPON DEFAULT OF TENANT. During the
continuance of an Event of Default, Landlord, without thereby waiving such Event
of Default, may (but shall not be obligated to) perform the same for the
account, and at the expense of, Tenant upon compliance with any notice
requirements and cure periods set forth in Section 21.2.

            22.2. LANDLORD'S REMEDIES. During the continuance of an Event of
Default, Landlord may serve a notice upon Tenant electing to terminate this
Lease upon a specified date not less than seven (7) days after the date of
serving such notice and this Lease shall then expire on the date so specified as
if that date had been originally fixed as the expiration date of the Term herein
granted; however, and Event of Default shall be deemed waived if such default is
made good before the date specified for termination in the notice of termination
served on Tenant. All Base Rent and Additional Rent payable by Tenant following
Tenant's receipt of a notice of monetary default shall be made by way of
certified or bank cashier's check. In case this Lease shall be legally
terminated as hereinbefore provided, or by summary proceedings or otherwise in
accordance with Laws, to the extend permitted by Laws, Landlord or its agents
may, immediately or any time thereafter, re-enter and resume possession of the
Premises or such part thereof, and remove all persons and property therefrom,
either by summary proceedings or by a suitable action or proceeding at law,
without being liable for any damages therefor. No re-entry by Landlord shall be
deemed an acceptance of a surrender of this Lease. In case this Lease shall be
terminated as hereinabove provided, or by summary proceedings or otherwise,
Landlord may, in its own name and in its own behalf, relet the whole or any
portion of the Premises, for any period equal to or greater or less than the
remainder of the then current Term, for any sum which it may deem reasonable, to
any tenant which it may deem suitable and satisfactory, and for any use and
purpose which it may deem appropriate, and in connection with any such lease
Landlord may make such changes in the character of the improvements on the
Premises as Landlord may determine to be appropriate or helpful in effecting
such lease and may grant concessions or free rent. However, in no event shall
Landlord be under any obligation to relet the Premises. Landlord shall not in
any event be required to pay Tenant any surplus of any sums received by Landlord
on a reletting of the Premises in excess of the rent reserved in this Lease.
Landlord shall be entitled to recover from Tenant the sum equal to all expenses,
including reasonable counsel fees, incurred by Landlord in recovering possession
of the Premises, the costs of reletting the Premises, and the costs and charges
for the care of Premises while vacant, which damages shall be due and payable by
Tenant to Landlord at such time or times as such expenses shall have been
incurred by Landlord. All rights and remedies of Landlord hereunder are
qualified in that they shall all be exercised in accordance with Laws.

            22.3. ADDITIONAL RIGHTS OF LANDLORD. Any and all costs, expenses and
disbursements, of any kind or nature, incurred by Landlord or Agent in
connection with the enforcement of any and all of the terms and provisions of
this Lease during the continuance of an

                                       20
<PAGE>
Event of Default, including attorneys' reasonable fees (through all appellate
proceedings), shall be due and payable (as Additional Rent) upon Landlord's
submission of an invoice therefor. All sums advanced by Landlord or Agent on
account of Tenant under this Section, or pursuant to any other provision of this
Lease, and all Base Rent and Additional Rent, if delinquent or not paid by
Tenant and received by Landlord within thirty (30) days of the date when due
hereunder, shall bear interest at the rate of one and one-half (1-1/2%) percent
per month from the date such payment is due until the date of payment thereof,
and such interest shall be and constitute Additional Rent and be due and payable
upon Landlord's or Agent's submission of an invoice therefore. The various
rights, remedies and elections of Landlord reserved, expressed or contained
herein are cumulative and no one of them shall be deemed to be exclusive of the
others or of such other rights, remedies, options or elections as are now or may
hereafter be conferred upon Landlord by law.

            22.4. EVENT OF BANKRUPTCY. In addition to, and in no way limiting
the other remedies set forth herein, Landlord and Tenant agree that if Tenant
ever becomes the subject of a voluntary or involuntary bankruptcy,
reorganization, composition, or other similar type proceeding under the federal
bankruptcy laws, as now enacted or hereinafter amended, then: (a) any person or
entity to which this Lease is assigned, pursuant to the provisions of the
Bankruptcy Code, shall be deemed, without further act or deed, to have assumed
all of the obligations of Tenant arising under this Lease on and after the
effective date of such assignment, and any such assignee shall, upon demand by
Landlord, execute and deliver to Landlord an instrument confirming such
assumption of liability; (b) notwithstanding anything in this Lease to the
contrary, all amounts payable by Tenant to or on behalf of Landlord under this
Lease, whether or not expressly denominated as "Rent", shall constitute "rent"
for the purposes of Section 502(b)(6) of the Bankruptcy Code; and (c) if this
Lease is assigned to any person or entity pursuant to the provisions of the
Bankruptcy Code, any and all monies or other considerations payable or otherwise
to be delivered to Landlord or Agent (including Base Rent, Additional Rent and
other amounts hereunder), shall be and remain the exclusive property of Landlord
and shall not constitute property of Tenant or of the bankruptcy estate of
Tenant.

            22.5. TENANT'S CURE RIGHTS AND REMEDIES. Tenant shall have all
rights and remedies at law and equity in the case of an Event of Default by
Landlord hereunder. In addition, during the continuance of an Event of Default
by Landlord, Tenant, without thereby waiving such Event of Default, may (but
shall not be obligated to) perform the same for the account, and at the expense
of Landlord upon an additional thirty (30) days' notice to Landlord. Landlord
shall pay to Tenant the reasonable amounts incurred in the performance of such
obligations within 30 days after invoice to Landlord, failing which payment,
Tenant shall have the right to bring suit against Landlord for such amounts.
Tenant shall not have the right to offset any such amounts against Rent.

      23. BROKER. Each party covenants, warrants and represents to the other
that the Broker was the only broker involved in the negotiation of this Lease.
Landlord shall be solely responsible for paying the commission of the Broker.
Each party agrees to and hereby does defend, indemnify and hold the other
harmless against and from any brokerage commissions or finder's fees or claims
therefore by a party other than the Broker claiming to have dealt with the
indemnifying party and all costs, expenses and liabilities in connection
therewith, including, without limitation, reasonable attorneys' fees and
expenses, for any breach of the foregoing. The foregoing indemnification shall
survive the termination or expiration of this Lease.

      24. MISCELLANEOUS.

            24.1. MERGER. All prior understandings and agreements between the
parties are merged in this Lease, which alone fully and completely expresses the
agreement of the parties. No agreement shall be effective to modify this Lease,
in whole or in part, unless such agreement is in writing, and is signed by the
party against whom enforcement of said change or modification is sought.

            24.2. NOTICES. Any notice required to be given by either party
pursuant to this Lease, shall be in writing and shall be deemed to have been
properly given, rendered or made

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<PAGE>
only if personally delivered, or if sent by Federal Express or other comparable
commercial overnight delivery service, addressed to the other party at the
addresses set forth below (or to such other address as Landlord or Tenant may
designate to each other from time to time by written notice), and shall be
deemed to have been given, rendered or made on the day so delivered or on the
first business day after having been deposited with the courier service:

      If to Landlord:                   First Industrial Realty Trust, Inc.
                                        First Industrial, L.P.
                                        43 Us Highway 46 East, Suite 701
                                        Pine Brook, New Jersey 07058
                                        Attn:  Mr. Hayden Tiger

      With a copy to:                   Epstein, Fitzsimmons, Brown, Ringle,
                                        Gioia & Jacobs
                                        245 Green Village Road
                                        Chatham Township, New Jersey 07928
                                        Attn:  Robert K. Brown, Esq.

      If to Tenant:                     At the Premises, as well as:
                                        Eyetech Pharmaceuticals, Inc.
                                        666 Fifth Avenue, 35th floor
                                        New York, New York 10103
                                        Attn:  Mr. Bill O'Connor and Mr.
                                        Harsha Murthy

      With a copy to:                   Reynolds Law, P.C.
                                        34 South Broadway
                                        White Plains, New York 10601
                                        Attn: Stephen B. Reynolds, Esq.

Copies of all notices hereunder, which are sent prior to April 30, 2003 shall
also be sent to:

                                        Abbott Laboratories, Inc.
                                        Dept. 52T, Bldg. AP52S
                                        200 Abbott Park Road
                                        Abbott Park, IL 60064-3537
                                        Attention: Corporate Real Estate

            24.3. NON-WAIVER. The failure of either party to insist, in any one
or more instances, upon the strict performance of any one or more of the
obligations of this Lease, or to exercise any election herein contained, shall
not be construed as a waiver or relinquishment for the future of the performance
of such one or more obligations of this Lease or of the right to exercise such
election, but the Lease shall continue and remain in full force and effect with
respect to any subsequent breach, act or omission. The receipt and acceptance by
Landlord or Agent of Base Rent or Additional Rent with knowledge of breach by
Tenant of any obligation of this Lease shall not be deemed a waiver of such
breach.

            24.4. LEGAL COSTS. Any party in breach or default under this Lease
(the "Defaulting Party") shall reimburse the other party (the "Nondefaulting
Party") upon demand for any legal fees and court (or other administrative
proceeding) costs or expenses that the Nondefaulting Party incurs in connection
with an Event of Default, regardless whether suit is commenced or judgment
entered. Such costs shall include legal fees and costs incurred for the
negotiation of a settlement, enforcement of rights or otherwise. Furthermore, in
the event of litigation, the court in such action shall award to the party in
whose favor a judgment is entered a reasonable sum as attorneys' fees and costs,
which sum shall be paid by the losing party. Tenant shall pay Landlord's
attorneys' reasonable fees incurred in connection with Tenant's request for
Landlord's consent under provisions of this Lease governing assignment and
subletting, or in connection with any other act which Tenant proposes to do and
which requires Landlord's consent.

                                       22
<PAGE>
            24.5. PARTIES BOUND. Except as otherwise expressly provided for in
this Lease, this Lease shall be binding upon, and inure to the benefit of, the
successors and assignees of the parties hereto. Tenant hereby releases Landlord
named herein from any obligations of Landlord for any period subsequent to the
conveyance and transfer of Landlord's ownership interest in the Premises,
provided Landlord transfers the Security to the transferee and the transferee
assumes all of Landlord's obligations hereunder (including, without limitation,
return of the Security). In the event of such conveyance and transfer,
Landlord's obligations shall thereafter be binding upon each transferee. No
obligation of Landlord shall arise under this Lease until the instrument is
signed by, and delivered to, both Landlord and Tenant.

            24.6. RECORDATION OF LEASE. Tenant shall not record or file this
Lease (or any memorandum hereof) in the public records of any county or state.

            24.7. SURVIVAL OF OBLIGATIONS. Upon the expiration or other
termination of this Lease, neither party shall have any further obligation nor
liability to the other except as otherwise expressly provided in this Lease and
except for such obligations as, by their nature or under the circumstances, can
only be, or by the provisions of this Lease, may be performed after such
expiration or other termination.

            24.8. GOVERNING LAW; CONSTRUCTION. This Lease shall be governed by
and construed in accordance with the laws of the State of New Jersey. If any
provision of this Lease shall be invalid or unenforceable, the remainder of this
Lease shall not be affected but shall be enforced to the extent permitted by
law. The captions, headings and titles in this Lease are solely for convenience
of reference and shall not affect its interpretation. This Lease shall be
construed without regard to any presumption or other rule requiring construction
against the party causing this Lease to be drafted. Each covenant, agreement,
obligation, or other provision of this Lease to be performed by Tenant, shall be
construed as a separate and independent covenant of Tenant, not dependent on any
other provision of this Lease. All terms and words used in this Lease,
regardless of the number or gender in which they are used, shall be deemed to
include any other number and any other gender as the context may require. This
Lease may be executed in counterpart and, when all counterpart documents are
executed, the counterparts shall constitute a single binding instrument.

            24.9. TIME. Time is of the essence of this Lease. If the time for
performance hereunder falls on a Saturday, Sunday or a day that is recognized as
a holiday in the State of New Jersey, then such time shall be deemed extended to
the next day that is not a Saturday, Sunday or holiday in said state.

            24.10. AUTHORITY. Each party hereby represents and warrants to the
other that the execution and delivery of this Lease and the performance by such
party of its obligations hereunder have been duly authorized by all necessary
corporate or partnership action and that the party executing the Lease on its
behalf has been duly authorized to do so.

            24.11. WAIVER OF TRIAL BY JURY. THE LANDLORD AND THE TENANT, TO THE
FULLEST EXTENT THAT THEY MAY LAWFULLY DO SO, HEREBY WAIVE TRIAL BY JURY IN ANY
ACTION OR PROCEEDING BROUGHT BY ANY PARTY TO THIS LEASE WITH RESPECT TO THIS
LEASE, THE PREMISES, OR ANY OTHER MATTER RELATED TO THIS LEASE OR THE PREMISES.

            24.12. TENANT'S FINANCIAL INFORMATION. Provided that Tenant is not a
publicly owned entity, Tenant shall deliver to Landlord, within fifteen (15)
days after Landlord's delivery to Tenant of a written request (the "Financial
Information Request"), its latest current income and balance statements for
Tenant prepared by Tenant in the ordinary course of its business and in
accordance with sound accounting practices. Landlord hereby agrees that Landlord
shall not deliver a Financial Information Request more often than once in any
given twelve (12) month period during the Term, unless there is a continuing
Event of Default by Tenant.

            24.13. INTENTIONALLY OMITTED.

                                       23
<PAGE>
            24.14. SUBMISSION OF LEASE. Submission of this Lease to Tenant for
signature does not constitute a reservation of space or an option to lease. This
Lease is not effective until execution by and delivery to both Landlord and
Tenant.

            24.15. JOINT AND SEVERAL LIABILITY. All parties signing this Lease
as Tenant shall be jointly and severally liable for all obligations of Tenant
hereunder.

            24.16. INTENTIONALLY OMITTED.

            24.17. TENANCY APPROVAL. The within Lease is subject to and
conditioned upon the approval of Tenant's use and occupancy of the Premises by
the Township of Hanover. Landlord and Tenant shall cooperate so as to obtain the
such approval as soon as is reasonably practicable. Tenant shall promptly apply
for such approval, at Tenant's sole cost and expense.

            24.18. RIDERS. All Riders and Exhibits attached hereto and executed
(or initialed) both by Landlord and Tenant shall be deemed to be a part hereof
and hereby incorporated herein.

      25. OPTION TO RENEW

            25.1. Provided the Tenant is not in default pursuant to the terms
and conditions of this Lease, the Tenant is hereby given the right and privilege
to renew this Lease, for two (2) consecutive five (5) year periods, to commence
at the end of the initial Term, which renewals shall be upon the same terms and
conditions as in this Lease contained, except that Tenant shall pay Base Rent
during the option periods in the amounts set forth in Section 2.2 hereof.

            25.2. The right, option and privilege of the Tenant to renew this
Lease as hereinabove set forth is expressly conditioned upon the tenant
delivering to the Landlord in writing in accordance with Section 19.2, nine (9)
months' prior notice of its intention to renew, which notice shall be given to
the Landlord by the Tenant no later than nine (9) months prior to the date fixed
for the termination of the initial Lease Term and first renewal term, as
applicable, and upon the giving of such notice this Lease and the Term shall be
extended without execution or delivery of any other or further documents, with
the same force and effect as if the renewal term(s) had originally been included
in the Term and the Expiration Date shall thereupon be deemed to be the last day
of the applicable renewal term.

            25.3. The obligation to pay the Base Rent as hereinabove set forth
shall be in addition to the obligation to pay all Additional Rent and other
charges required by the terms and conditions of this Lease.

      26. SALE OF THE PREMISES. In the event that Landlord decides to market the
Premises for sale, Landlord agrees that it shall notify Tenant of such intention
at the same time that Landlord offers the Premises for sale to the public
generally. The foregoing shall not prohibit the Landlord from entering into
discussions with any potential purchaser of the Premises, without liability to
Tenant.

      IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Lease as
of the

                                       24
<PAGE>
day and year first above written.

                                         LANDLORD:

                                         FIRST INDUSTRIAL, L.P., a Delaware
                                         limited partnership

WITNESS:                                 By:   First Industrial Realty Trust,
                                         Inc., a Maryland corporation, its
/s/ MARY ANN E. RUSSELL                  general partner
------------------------
                                         By: /s/ HAYDEN TIGER
                                            ------------------------------------

                                         Its:
                                             -----------------------------------

                                         TENANT:
ATTEST:
                                         EYETECH PHARMACEUTICALS, INC., a
                                         Delaware corporation
/s/ KEN LINSK, Assoc. General Counsel
-------------------------------------
                                         By: /s/ DAVID GUYER
                                            ------------------------------------

                                         Its: CEO
                                             -----------------------------------

                                       25
<PAGE>
STATE OF NEW JERSEY     )
                        ) SS.
COUNTY OF MORRIS        )

      BE IT REMEMBERED, that on this 18th day of March, 2002, before me, the
subscriber, MARY ANN E. RUSSELL, personally appeared HAYDEN TIGER, who, I am
satisfied, is the person who signed the within Instrument as Regional Director,
of FIRST INDUSTRIAL REALTY TRUST, INC., a Delaware corporation, a General
Partner of FIRST INDUSTRIAL, L.P., the Landlord named therein, and he thereupon
acknowledged that the said instrument made by the corporation and sealed with
its corporate seal, was signed and sealed with the corporate seal and delivered
by him as such officer, and is the voluntary act and deed of the corporation,
made by virtue of authority from its Board of Directors.

                                    /s/ MARY ANN E. RUSSELL
                                    ------------------------------
                                    MARY ANN E. RUSSELL
                                    Notary Public State of New Jersey
                                    My Commission Expires July 20, 2003

STATE OF N.J.           )
                        ) SS.
COUNTY OF ESSEX         )

      BE IT REMEMBERED, that on this 15 day of March, 2002, before me, the
subscriber, David Guyer personally appeared , who, I am satisfied, is the person
who signed the within Instrument as CEO of EYETECH PHARMACEUTICALS, INC., a
Delaware corporation, the Tenant named therein, and he thereupon acknowledged
that the said instrument made by the corporation and sealed with its corporate
seal, was signed and sealed with the corporate seal and delivered by him as such
officer, and is the voluntary act and deed of the corporation, made by virtue of
authority from its Board of Directors.

                                    /s/ LILLIAN VAZQUEZ
                                    ------------------------------------------
                                    OFFICIAL SEAL
                                    NOTARY PUBLIC - NEW JERSEY
                                    LILLIAN VAZQUEZ
                                    ESSEX COUNTY
                                    My Commission Expires April 7, 2004

                                       26

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