Document:

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                                                                    EXHIBIT 10.4

                             EMPLOYMENT AGREEMENT

                                    between

                                AVENUE A, INC.

                                      and

                               JEFFREY J. MILLER

                                                     Dated as of June 21, 2000
<PAGE>

                             EMPLOYMENT AGREEMENT

         This Employment Agreement (this "Agreement"), dated as of June 21,
2000, between Avenue A, Inc., a Washington corporation ("Avenue A"), and Jeffrey
J. Miller ("Executive").

                             W I T N E S S E T H:
                             - - - - - - - - - -

         WHEREAS, Executive has been serving Avenue A as Vice President of
Corporate Development & Legal Affairs and Avenue A desires to retain the
services of Executive upon the terms and conditions set forth herein; and

         WHEREAS, Executive is willing to continue to provide services to Avenue
A upon the terms and conditions set forth herein;

                             A G R E E M E N T S:
                             - - - - - - - - - -

         NOW, THEREFORE, for and in consideration of the foregoing premises and
for other good and valuable consideration, the sufficiency and receipt of which
are hereby acknowledged, Avenue A and Executive hereby agree as follows:

1.       EMPLOYMENT

         Avenue A will employ Executive and Executive will accept employment by
Avenue A as Vice President of Corporate Development & Legal Affairs. During
Executive's employment, Executive shall serve Avenue A faithfully and to the
best of his ability, devoting substantially all his working time, attention and
energies to the business of Avenue A. Executive's status, duties and
responsibilities shall be reasonably commensurate with his title, and he shall
perform such duties as lawfully assigned to him. Executive shall not engage in
any other business activity (except the management of personal investments and
charitable and civic activities which in the aggregate do not interfere with the
performance of Executive's duties hereunder) without first obtaining the written
consent of Avenue A's CEO, such consent not to be unreasonably withheld.

<PAGE>

2.       BENEFITS

         During his employment, Executive will be entitled to participate in all
employee benefit plans in which executives of Avenue A may participate.

3.       TERMINATION

         Employment of Executive pursuant to this Agreement may be terminated as
follows:

         3.1.     By Avenue A

         With or without Cause (as defined below), Avenue A may terminate the
employment of Executive at any time upon giving Notice of Termination (as
defined below).

         3.2.     By Executive

         Executive may terminate his employment at any time, for any reason,
upon giving Notice of Termination.

         3.3.     Automatic Termination

         This Agreement and Executive's employment hereunder shall terminate
automatically upon the death or total disability of Executive. The term "total
                                                                         -----
disability" as used herein shall mean Executive's inability to perform the
----------
duties set forth in paragraph 1 hereof for a period or periods aggregating
ninety (90) calendar days in any 12-month period as a result of physical or
mental illness, loss of legal capacity or any other cause beyond Executive's
control, unless Executive is granted a leave of absence by the Board of
Directors of Avenue A. Executive and Avenue A hereby acknowledge that
Executive's ability to perform the duties specified in paragraph 1 hereof is of
the essence of this Agreement. Termination hereunder shall be deemed to be
effective (a) at the end of the calendar month in which Executive's death occurs
or (b) immediately upon a determination by the Board of Directors of Avenue A of
Executive's total disability, as defined herein.

         3.4.     Notice

         The term "Notice of Termination" shall mean at least thirty (30) days'
                   ---------------------
written notice of termination, by either party, of Executive's employment,
during which period Executive's employment and performance of services will
continue; provided,
          --------

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however, that Avenue A may, upon notice to Executive and without reducing
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Executive's compensation during such period, excuse Executive from any or all of
his duties during such period. Such a reduction in duties shall not constitute
"good reason" for voluntary termination so as to trigger termination payments in
accordance with subparagraph 4.2. The effective date of the termination (the
"Termination Date") of Executive's employment hereunder shall be the date on
which such 30-day period expires.

4.       TERMINATION PAYMENTS AND ACCELERATION OF
         VESTING

         In the event of termination of the employment of Executive, all
compensation and benefits set forth in this Agreement shall terminate except as
specifically provided in this paragraph 4. Nothing in this Agreement shall be
construed to restrict Executive's rights to exercise vested stock option shares
as provided in any applicable stock option plan.

         4.1.     Termination by Avenue A

         (a)      Upon termination by Avenue A, Avenue A shall pay Executive any
unpaid annual base salary at the rate of pay in effect at the time of
termination (herinafter "Base Salary") through the Termination Date. Such
payment will be made on the Termination Date or within 15 days thereafter.

         (b)      If Avenue A terminates Executive's employment without Cause,
as defined below, Executive shall be entitled to receive termination payments
equal to six (6) months annual Base Salary, plus an additional three months Base
Salary for each year in which the Executive has been employed with Avenue A, up
to a total termination benefit of twelve (12) months annual Base Salary. The
termination payments will be paid semi-monthly in equal parts in accordance with
the same time schedule that Avenue A or a Successor Company (as defined in
Exhibit A hereto and incorporated by reference herein) makes its customary
payroll. Avenue A or a Successor Company may deduct customary withholdings
including social security, federal and state income taxes, and state disability
insurance from these severance payments; however, any and all such obligations
shall be Executive's responsibility. Avenue A will issue and file appropriate
tax documents in connection with any termination payments. The termination
payments described in this paragraph are expressly contingent upon Executive's
signing upon termination a release in the form

                                      -3-
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attached hereto as Exhibit B, and are further contingent upon Executive's full
compliance with the terms of his Confidentiality, Inventions Assignment,
Noncompetition and Nonsolicitation Agreement with Avenue A (the "Confidentiality
Agreement"), a copy of which is attached hereto as Exhibit C. In the event
Executive were to materially breach this Confidentiality Agreement, his right to
any termination payments under this paragraph shall be extinguished, Avenue A
(and any Successor Company) shall cease payments, and Executive shall
immediately return to Avenue A or to any Successor Company any termination
payments already made. If Executive is terminated by either of Avenue A or any
Successor Company for Cause, Executive shall not be entitled to receive any of
the foregoing benefits, other than those set forth in clause (a) above.

         (c)   If Avenue A terminates Executive's employment without Cause, as
defined below, then (1) the portion of any Avenue A stock option held by
Executive immediately prior to the Termination Date that is unvested shall
automatically vest, immediately prior to the Termination Date, in an amount
equal to the portion that would have vested during the "Applicable Period" (as
defined in the table below) immediately following the Termination Date,
assuming, for purpose of determining the amount, that no termination had
occurred and Executive had continued Executive's employment with Avenue A during
the Applicable Period:

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

Executive's Continuous Employment             "Applicable Period"
with Avenue A
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Less than one year                            Six Months
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At least one year but less than two years     Nine Months
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2 years or more                               One Year
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and (2) the number of unvested shares, if any, held by Executive immediately
prior to the Termination Date that were obtained on exercise of any Avenue A
stock options that is equal to the number of such unvested shares that would
have vested during the Applicable Period immediately after the Termination Date
(assuming, for purposes of determining the number, that no termination had
occurred and Executive had continued Executive's employment with Avenue A during
the Applicable Period) shall, immediately prior to the Termination Date,
automatically vest and be no longer subject to the right of repurchase in favor
of Avenue A. If the end of the Applicable Period falls in the middle of a
quarter for option or share vesting purposes, the vesting acceleration described
above shall be pro rated for the actual number of days between the beginning of
such quarter and the last day of the Applicable Period. Any

                                      -4-
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acceleration of vesting of stock options or of unvested shares pursuant to the
terms of any stock option plan of Avenue A under which any stock option held by
Executive is granted (a "Company Stock Option Plan") and any acceleration of
vesting pursuant to any option letter agreement for any stock option for Avenue
A common stock granted to Executive prior to or after the date of this Agreement
(an "Option Agreement") shall not be limited by or be in lieu of any
acceleration of vesting provided for pursuant to this Agreement, and any
acceleration of vesting provided for pursuant to this Agreement shall not be
limited by or be in lieu of any acceleration of vesting provided for pursuant to
any Company Stock Option Plan or Option Agreement.

         4.2.     Termination by Executive

         In the case of the termination of Executive's employment by Executive
for "good reason," as defined below, Executive shall be paid the compensation
and termination benefits as set forth in clauses 4.1(a) and (b), above, and
shall not be entitled to the benefits under clause 4.1(c). In the case of
termination of Executive's employment by Executive for any other reason,
Executive shall be paid the compensation set forth in clause 4.1(a) and shall
not be entitled to the benefits under clause 4.1(b) or 4.1(c) above.

         4.3.     Termination as a Result of Death or Total Disability

         In the event of termination of Executive's employment pursuant to
subparagraph 3.3, Executive or his estate shall be paid the compensation set
forth in clause 4.1(a) and shall not be entitled to any of the benefits under
clauses 4.1(b) or 4.1(c) above.

         4.4.     "Good Reason"

         "Good reason" shall mean the occurrence of any of the following events,
without the consent of the Executive, in connection with or after a "Change of
Control" (as defined in Exhibit A hereto and incorporated by reference herein):

                  a)  a demotion or other material reduction in the nature or
                      status of Executive's responsibilities; provided, however,
                      that a change in the person or office to which Executive
                      reports, without a corresponding reduction in duties,
                      status and responsibilities, shall not constitute "good
                      reason;"

                  b)  a non-voluntary reduction in the Executive's annual Base
                      Salary;

                  c)  requirement by a Successor Company that the Executive
                      relocate his principal place of employment to a location
                      that is more than 50

                                      -5-
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                      miles from the principal place of employment where
                      Executive was employed immediately prior to the "Change of
                      Control;" or

                  d)  the failure of Avenue A to obtain a satisfactory agreement
                      from any Successor Company to assume and perform the
                      obligations under this Agreement.

         4.5.     Cause

         Wherever reference is made in this Agreement to termination being with
or without Cause, "Cause" shall include, without limitation, the occurrence of
one or more of the following events:

                  (a) willful misconduct, insubordination, or dishonesty in the
         performance of Executive's duties or other knowing and material
         violation of Avenue A's or a Successor Company's policies and
         procedures in effect from time to time which results in a material
         adverse effect on Avenue A or a Successor Company;

                  (b) the continued failure of Executive to satisfactory perform
          his duties after receipt of written notice that specifically
          identifies the areas in which Executive's performance is deficient;

                  (c) willful actions (or intentional failures to act) in bad
         faith by Executive with respect to Avenue A or a Successor Company that
         materially impair Avenue A's or a Successor Company's business,
         goodwill or reputation;

                  (d) conviction of Executive of a felony involving an act of
         dishonesty, moral turpitude, deceit or fraud, or the commission of acts
         that could reasonably be expected to result in such a conviction;

                  (e) current use by the Executive of illegal substances; or

                  (f) any material violation by Executive of Executive's
         Confidentiality Agreement with Avenue A.

5.       CONFIDENTIALITY, NONCOMPETITION AND
         NONSOLICITATION AGREEMENT

         Executive is subject to the terms of the Confidentiality Agreement
entered into concurrently with this Agreement and the terms of the
Confidentiality Agreement shall survive the termination of Executive's
employment with Avenue A.

6.       REPRESENTATIONS AND WARRANTIES; NO VIOLATION

         In order to induce Avenue A to enter into this Agreement, Executive
represents and warrants to Avenue A that neither the execution nor the
performance of this Agreement by Executive will violate or conflict in any way
with any other agreement

                                      -6-
<PAGE>

by which Executive may be bound, or with any other duties imposed upon Executive
by corporate or other statutory or common law.

7.       NOTICE AND CURE OF BREACH

         Whenever a breach of this Agreement by either party is relied upon as
justification for any action taken by the other party pursuant to any provision
of this Agreement, other than pursuant to the definition of "Cause" set forth in
subparagraph 4.5 hereof, before such action is taken, the party asserting the
breach of this Agreement shall give the other party at least 14 days' prior
written notice of the existence and the nature of such breach before taking
further action hereunder and shall give the party purportedly in breach of this
Agreement the opportunity to correct such breach during the 14-day period.

8.       FORM OF NOTICE

         All notices given hereunder shall be given in writing, shall
specifically refer to this Agreement and shall be personally delivered or sent
by telecopy or other electronic facsimile transmission or by registered or
certified mail, return receipt requested, at the address set forth below or at
such other address as may hereafter be designated by notice given in compliance
with the terms hereof:

         If to Executive:             Jeffrey J. Miller
                                      5246 40/th/ Avenue West
                                      Seattle, WA 98199

         If to Avenue A:              Avenue A, Inc.
                                      506 Second Avenue
                                      Seattle, WA 98104
                                      Facsimile: (206) 521-8808
                                      Attention: President and CEO

         Copy to:                     Perkins Coie LLP
                                      1201 Third Avenue, 48th Floor
                                      Seattle, WA 98101-3099
                                      Facsimile: (206) 583-8500
                                      Attention: James Sanders

                                      -7-
<PAGE>

If notice is mailed, such notice shall be effective upon mailing, or if notice
is personally delivered or sent by telecopy or other electronic facsimile
transmission, it shall be effective upon receipt.

9.       ASSIGNMENT

         This Agreement is personal to Executive and shall not be assignable by
Executive. Avenue A may assign its rights hereunder to (a) any corporation
resulting from any merger, consolidation or other reorganization to which Avenue
A is a party or (b) any corporation, partnership, association or other person to
which Avenue A may transfer all or substantially all of the assets and business
of Avenue A existing at such time. All of the terms and provisions of this
Agreement shall be binding upon and shall inure to the benefit of and be
enforceable by the parties hereto and their respective successors and permitted
assigns.

10.      WAIVERS

         No delay or failure by any party hereto in exercising, protecting or
enforcing any of its rights, titles, interests or remedies hereunder, and no
course of dealing or performance with respect thereto, shall constitute a waiver
thereof. The express waiver by a party hereto of any right, title, interest or
remedy in a particular instance or circumstance shall not constitute a waiver
thereof in any other instance or circumstance. All rights and remedies shall be
cumulative and not exclusive of any other rights or remedies.

11.      ARBITRATION

         Any controversies or claims arising out of or relating to this
Agreement shall be fully and finally settled by arbitration in the city of
Seattle in accordance with the Commercial Arbitration Rules of the American
Arbitration Association then in effect (the "AAA Rules"), conducted by one
                                             ---------
arbitrator either mutually agreed upon by Avenue A and Executive or chosen in
accordance with the AAA Rules, except that the parties thereto shall have any
right to discovery as would be permitted by the Federal Rules of Civil Procedure
for a period of 90 days following the commencement of such arbitration and the
arbitrator thereof shall resolve any dispute which arises in connection with
such discovery. The prevailing party shall be entitled to costs, expenses and
reasonable attorneys' fees, and judgment upon the award rendered by the
arbitrator may be entered in any court having jurisdiction thereof.

12.      AMENDMENTS IN WRITING

         No amendment, modification, waiver, termination or discharge of any
provision of this Agreement, nor consent to any departure therefrom by either
party

                                      -8-
<PAGE>

hereto, shall in any event be effective unless the same shall be in writing,
specifically identifying this Agreement and the provision intended to be
amended, modified, waived, terminated or discharged and signed by Avenue A and
Executive, and each such amendment, modification, waiver, termination or
discharge shall be effective only in the specific instance and for the specific
purpose for which given. No provision of this Agreement shall be varied,
contradicted or explained by any oral agreement, course of dealing or
performance or any other matter not set forth in an agreement in writing and
signed by Avenue A and Executive.

13.      APPLICABLE LAW

         This Agreement shall in all respects, including all matters of
construction, validity and performance, be governed by, and construed and
enforced in accordance with, the laws of the state of Washington, without regard
to any rules governing conflicts of laws.

14.      SEVERABILITY

         If any provision of this Agreement shall be held invalid, illegal or
unenforceable in any jurisdiction, for any reason, including, without
limitation, the duration of such provision, its geographical scope or the extent
of the activities prohibited or required by it, then, to the full extent
permitted by law (a) all other provisions hereof shall remain in full force and
effect in such jurisdiction and shall be liberally construed in order to carry
out the intent of the parties hereto as nearly as may be possible, (b) such
invalidity, illegality or unenforceability shall not affect the validity,
legality or enforceability of any other provision hereof, and (c) any court or
arbitrator having jurisdiction thereover shall have the power to reform such
provision to the extent necessary for such provision to be enforceable under
applicable law.

15.      HEADINGS

         All headings used herein are for convenience only and shall not in any
way affect the construction of, or be taken into consideration in interpreting,
this Agreement.

16.      COUNTERPARTS

         This Agreement, and any amendment or modification entered into pursuant
to paragraph 12 hereof, may be executed in any number of counterparts, each of
which counterparts, when so executed and delivered, shall be deemed to be an
original and all of which counterparts, taken together, shall constitute one and
the same instrument.

                                      -9-
<PAGE>

17.      ENTIRE AGREEMENT

         This Agreement on and as of the date hereof, together with the
Confidentiality Agreement, constitutes the entire agreement between Avenue A and
Executive with respect to the subject matter hereof and all prior or
contemporaneous oral or written communications, understandings or agreements
between Avenue A and Executive with respect to such subject matter are hereby
superseded and nullified in their entireties.

         IN WITNESS WHEREOF, the parties have executed and entered into this
Agreement on the date set forth above.

                                   EXECUTIVE:

                                   Jeffrey J. Miller

                                   /s/ J.J. MILLER
                                   --------------------------------------------

                                   AVENUE A:

                                   Avenue A, Inc.

                                   By /s/ Brian McAndrews
                                     ------------------------------------------
                                     Brian McAndrews
                                     Its President and CEO

                                     -10-
<PAGE>

                                   EXHIBIT A

1.  Definition of "Change of Control"

         For purposes of the Employment Agreement, a "Change of Control" means
any of:

         (i)   an event in which any person (including any individual, entity or
group within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities
Exchange Act of 1934, as amended, (the "Exchange Act")) (a "Person"), shall
become the beneficial owner (within the meaning of Rule 13d-3 promulgated under
the Exchange Act), directly or indirectly, of fifty percent (50%) or more of the
combined voting power of the capital stock of Avenue A, Inc. ("Avenue A") then
outstanding; or

         (ii)  at any time during which Avenue A has a class of equity
securities which is listed on a national securities exchange or an automated
quotation system (including, without limitation, the Nasdaq Stock Market)
("publicly traded"), the acquisition by a Person of equity securities
representing more than thirty percent (30%) of the combined voting power of the
capital stock of Avenue A outstanding as of the date of such transaction (or the
first of a series of related transactions), but only if such equity securities
were acquired in a transaction or series of related transactions which were not
approved by the Board of Directors of Avenue A in office prior to the date of
such first acquisition (provided, however that if such Person is entitled,
pursuant to Rule 13d-1 under the Exchange Act to file a Form 13G with respect to
its holdings of equity securities of Avenue A in lieu of a Form 13D, such event
will not constitute a Change of Control unless and until such Person files a
Form 13D with respect to such holdings); or

         (iii) at any time during which Avenue A has a class of equity
securities which is publicly traded, the acquisition by a Person of equity
securities representing more than twenty percent (20%) of the combined voting
power of the capital stock of Avenue A outstanding prior to the date of such
transaction (or the first of a series of related transactions) in a transaction
or series of related transactions which were not approved by the Board of
Directors of Avenue A in office prior to the date of such first acquisition,
and, within one year thereafter, at least two individuals whose election to the
---
Board of Directors was proposed by such Person are members of the Board of
Directors; or

         (iv)  the sale or other disposition of all or substantially all of
Avenue A's assets, other than to a corporation with respect to which immediately
following such sale or disposition (A) securities representing more than sixty
percent (60%) of the combined voting power the capital stock of such corporation
are then beneficially owned, directly or indirectly, by all or substantially all
of the beneficial owners of securities representing the combined voting power of
the capital stock of Avenue A (the "Company Voting Securities") immediately
prior to such sale or disposition in substantially the same proportion as their
ownership, immediately prior to such sale or other disposition, of Company
Voting Securities, (B) no Person (excluding Avenue A, any employee benefit plan
(or related trust) of Avenue A or such corporation and any Person beneficially
owning, immediately prior to such sale or other disposition, directly or
indirectly, securities representing 33% or more of Company Voting Securities)
beneficially owns, directly or indirectly, securities representing 33% or more
of the combined voting power of the capital stock of such corporation; and (C)
at least a majority of the members of the board of directors of the such
corporation were approved by majority of directors of the Incumbent Directors
(as defined in subsection (vii))on Avenue A's Board of Directors at the time
such transaction was initially approved by Avenue A.
<PAGE>

         (v)   the reorganization, merger or consolidation of Avenue A with any
other corporation or entity, in each case unless immediately following such
reorganization, merger or consolidation (A) securities representing more than
60% of the combined voting power of the capital stock of the corporation
resulting from such reorganization, merger or consolidation are then
beneficially owned, directly, or indirectly, by all or substantially all of the
individuals and entities who were the beneficial owners of Company Voting
Securities immediately prior to such reorganization, merger or consolidation in
substantially the same proportion as their ownership, immediately prior to such
reorganization, merger or consolidation, of Company Voting Securities, (B) no
Person (excluding Avenue A, any employee benefit plan (or related trust) of
Avenue A or such corporation resulting from such reorganization, merger or
consolidation and any Person beneficially owning, immediately prior to such
reorganization, merger or consolidation, directly or indirectly, securities
representing 33% or more of Company Voting Securities) beneficially owns,
directly or indirectly, securities representing 33% or more of the combined
voting power of the corporation resulting from such reorganization, merger or
consolidation, and (C) at least a majority of the members of the board of
directors of the corporation resulting from such reorganization, merger or
consolidation were the Incumbent Directors at the time that the agreement for
such reorganization, merger or consolidation was initially executed; or

         (vi)  the dissolution or liquidation of Avenue A; or

         (vii) a change in the composition of the Board of Directors of Avenue A
in which a majority of the seats (other than vacant seats) on the Board have
been occupied by individuals who were neither (a) nominated by a majority of the
Incumbent Directors nor (b) appointed by directors so nominated.

2        Definition of "Successor Company"

         For purposes of the Employment Agreement, "Successor Company" shall
mean any of (i) any corporation that acquires all or substantially all of the
assets of Avenue A in a "Change of Control" described in clause (iv) of the
definition of "Change of Control" above or (ii) a successor corporation to
Avenue A (or parent corporation thereof) resulting from a "Change in Control" of
Avenue A described in clause (v) of the definition of "Change of Control" above.

3        Definition of "Incumbent Director"

         An "Incumbent Director" is a member of Avenue A's Board of Directors
(the "Board") who has been either (i) nominated by a majority of the directors
of Avenue A then in office or (ii) appointed by directors so nominated, but
excluding, for this purpose, any such individual whose initial assumption of
office occurs as a result of either an actual or threatened election contest (as
such terms are used in Rule 14a-11 of Regulation 14A promulgated under the
Securities Exchange Act of 1934, an amended (the "Exchange Act")) or other
actual or threatened solicitation of proxies or consents by or on behalf of a
Person other than the Board.

                                      -2-
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                                   EXHIBIT B

                              WAIVER AND RELEASE

         For and in consideratIon of the severance payments and benefits set out
in the Employment Agreement attached hereto, Executive, on behalf of himself and
his agents, heirs, successors and assigns, expressly waives any claims against
Employer and releases Employer (including its officers, directors, stockholders,
managers, agents and representatives) from any and all claims, demands,
liabilities, damages, obligations, actions or causes of action of any kind,
known or unknown, past or present, arising out of, relating to, or in connection
with Executive's employment, termination of employment, or the holding of any
office with Employer or any other related entity. The claims released by
Executive include, but are not limited to, claims for defamation, libel,
invasion of privacy, intentional or negligent infliction of emotional distress,
wrongful termination, constructive discharge, breach of contract, breach of the
covenant of good faith and fair dealing, breach of fiduciary duty, fraud, or for
violation of any federal, state or other governmental statute or ordinance,
including, without limitation, Title VII of the Civil Rights Act of 1964, the
federal Age Discrimination in Employment Act, the Americans with Disabilities
Act, the Family and Medical Leave Act, the Employment Retirement Income Security
Program or any other legal limitation on the employment relationship.

         This waiver and release shall not waive or release claims (1) where the
events in dispute first arise after execution of this Release; (2) for rights or
benefits due under the Employment Agreement attached hereto; or (3) relating to
Executive's rights to indemnity as a corporate officer of Employer.

         Executive agrees he has been provided the opportunity to consider for
twenty-one (21) days whether to enter into this Release, and has voluntarily
chosen to enter into it on this date. Executive may revoke this Release for a
period of seven (7) days following the execution of this Release; this Release
shall become effective following expiration of this seven (7) day period. This
Release shall be effective when signed. Executive acknowledges that he is
voluntarily executing this Release, that he has carefully read and fully
understands all aspects of this Release and the attached Employment Agreement,
that he has not relied upon any representations or statements not set forth
herein or made by Avenue A's agents or representatives, that he has been advised
to consult with an attorney prior to executing the Release, and that, in fact,
he has consulted with an attorney of his choice as to the subject matter and
effect of this Release.

__________________                    __________________________________________

                                      -2-
<PAGE>

                                   EXHIBIT C

                           CONFIDENTIALITY AGREEMENT<PAGE>

                                                                    EXHIBIT 10.5

                               PLEDGE AGREEMENT

     This PLEDGE AGREEMENT (this "Agreement") is dated as of August 18th, 2000,
and entered into by and between NEVE RICHARD SAVAGE and ANN ELIZABETH SAVAGE
(collectively, "Pledgor") and AVENUE A, INC. ("Secured Party").

                            PRELIMINARY STATEMENTS

     A.   Pledgor is the legal and beneficial owner of the shares of stock (the
"Pledged Shares") described in Schedule I annexed hereto and issued by Secured
Party.

     B.   Secured Party has entered into a Loan Agreement dated as of August
18th, 2000 (the "Loan Agreement", the terms defined therein and not otherwise
defined herein being used herein as therein defined) with Pledgor, pursuant to
which Lender has a commitment, subject to the terms and conditions set forth in
the Loan Agreement, to extend certain credit to Pledgor.

     C.   It is a condition precedent to the initial extensions of credit by
Lender under the Loan Agreement that Pledgor shall have granted the security
interests and undertaken the obligations contemplated by this Agreement.

     NOW, THEREFORE, in consideration of the premises and in order to induce
Lender to make the Loan under the Loan Agreement and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged,
Pledgor hereby agrees with Secured Party as follows:

1.   Pledge of Security

     Pledgor hereby pledges and assigns to Secured Party, and hereby grants to
Secured Party a security interest in, all of Pledgor's right, title and interest
in and to the following (the "Pledged Collateral"):

     (a)  The Pledged Shares and the certificates representing the Pledged
Shares and any interest of Pledgor in the entries on the books of any financial
intermediary pertaining to the Pledged Shares, and all dividends, cash,
warrants, rights, instruments and other property or proceeds from time to time
received, receivable or otherwise distributed in respect of or in exchange for
any or all of the Pledged Shares;

                                                                          PAGE 1
<PAGE>

     (b)  To the extent not covered by clause (a) above, all proceeds of any or
all of the foregoing Pledged Collateral. For purposes of this Agreement, the
term "proceeds" includes whatever is receivable or received when Pledged
Collateral or proceeds are sold, exchanged, collected or otherwise disposed of,
whether such disposition is voluntary or involuntary, and includes, without
limitation, proceeds of any indemnity or guaranty payable to Pledgor or Secured
Party from time to time with respect to any of the Pledged Collateral.

2.   Security for Obligations

     This Agreement secures, and the Pledged Collateral is collateral security
for, the prompt payment or performance in full when due, whether at stated
maturity, by required prepayment, declaration, acceleration, demand or otherwise
(including the payment of amounts that would become due but for the operation of
the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. (S)
362(a)), of all obligations and liabilities of every nature of Pledgor now or
hereafter existing under or arising out of or in connection with the Loan
Agreement and the other Loan Documents and all extensions or renewals thereof,
whether for principal, interest (including without limitation interest that, but
for the filing of a petition in bankruptcy with respect to Pledgor would accrue
on such obligations), fees, expenses, indemnities or otherwise, whether
voluntary or involuntary, direct or indirect, absolute or contingent, liquidated
or unliquidated, whether or not jointly owed with others, and whether or not
from time to time decreased or extinguished and later increased, created or
incurred, and all or any portion of such obligations or liabilities that are
paid, to the extent all or any part of such payment is avoided or recovered
directly or indirectly from Secured Party or any Lender as a preference,
fraudulent transfer or otherwise (all such obligations and liabilities being the
"Underlying Debt"), and all obligations of every nature of Pledgor now or
hereafter existing under this Agreement (all such obligations of Pledgor,
together with the Underlying Debt, being the "Secured Obligations").

3.   Delivery of Pledged Collateral

     All certificates or instruments representing or evidencing the Pledged
Collateral shall be delivered to and held by or on behalf of Secured Party
pursuant hereto and shall be in suitable form for transfer by delivery or, as
applicable, shall be accompanied by Pledgor's endorsement, where necessary, or
duly executed instruments of transfer or assignment in blank, all in form and
substance satisfactory to Secured Party. Secured Party shall have the right at
any time to exchange certificates or instruments representing or evidencing
Pledged Collateral for certificates or instruments of smaller or larger
denominations.

                                                                          PAGE 2
<PAGE>

4.   Transfers and Other Liens, Additional Pledged Collateral; Etc.

     Pledgor shall:

     (a)  Not, except as expressly permitted by the Loan Agreement, (i) sell,
assign (by operation of law or otherwise) or otherwise dispose of, or grant any
option with respect to, any of the Pledged Collateral, or (ii) create or suffer
to exist any Lien upon or with respect to any of the Pledged Collateral, except
for the security interest under this Agreement; and

     (b)  Promptly deliver to Secured Party all written notices received by it
with respect to the Pledged Collateral.

5.   Further Assurances; Pledge Amendments

     (a)  Pledgor agrees that from time to time, at the expense of Pledgor,
Pledgor will promptly execute and deliver all further instruments and documents,
and take all further action, that reasonably may be necessary or desirable, or
that Secured Party reasonably may request, in order to perfect and protect any
security interest granted or purported to be granted hereby or to enable Secured
Party to exercise and enforce its rights and remedies hereunder with respect to
any Pledged Collateral. Without limiting the generality of the foregoing,
Pledgor will: (i) execute and file such financing or continuation statements, or
amendments thereto, and such other instruments or notices, as reasonably may be
necessary or desirable, or as Secured Party reasonably may request, in order to
perfect and preserve the security interests granted or purported to be granted
hereby and (ii) at Secured Party's reasonable request, appear in and defend any
action or proceeding that may affect Pledgor's title to or Secured Party's
security interest in all or any part of the Pledged Collateral.

     (b)  Pledgor further agrees that, upon obtaining any additional shares of
stock of a result of a split, dividend, combination, or similar transaction,
such shares shall be deemed to be Pledged Shares, and Pledgor will promptly (and
in any event within five Business Days) deliver to Secured Party a Pledge
Amendment, duly executed by Pledgor, in substantially the form of Schedule II
annexed hereto (a "Pledge Amendment"), in respect of the additional Pledged
Shares to be pledged pursuant to this Agreement. Pledgor hereby authorizes
Secured Party to attach each Pledge Amendment to this Agreement and agrees that
all Pledged Shares listed on any Pledge Amendment delivered to Secured Party
shall for all purposes hereunder be considered Pledged Collateral; provided that
                                                                   --------
the failure of Pledgor to execute a Pledge Amendment with respect to any
additional Pledged Shares pledged pursuant to this Agreement shall not impair
the security interest of Secured Party therein or otherwise

                                                                          PAGE 3
<PAGE>

adversely affect the rights and remedies of Secured Party hereunder with respect
thereto.

6.   Voting Rights; Dividends, Etc.

     So long as no Event of Default shall have occurred and be continuing,
Pledgor shall be entitled to exercise any and all voting and other consensual
rights pertaining to the Pledged Shares or any part thereof for any purpose not
inconsistent with the terms of this Agreement or the Loan Agreement.

7.   Secured Party Appointed Attorney-in-Fact

     Pledgor hereby irrevocably appoints Secured Party as Pledgor's attorney-in-
fact, with full authority in the place and stead of Pledgor and in the name of
Pledgor, Secured Party or otherwise, from time to time in Secured Party's
discretion to take any action and to execute any instrument that Secured Party
reasonably may deem necessary or advisable to accomplish the purposes of this
Agreement, including without limitation:

     (a)  To file one or more financing or continuation statements, or
amendments thereto, relative to all or any part of the Pledged Collateral
without the signature of Pledgor;

     (b)  To receive, endorse and collect any instruments made payable to
Pledgor representing any dividend, principal or interest payment or other
distribution in respect of the Pledged Collateral or any part thereof and to
give full discharge for the same; and

     (c)  To instruct a broker to sell the Pledged Collateral pursuant to the
terms of this Agreement and the Secured Obligations.

8.   Secured Party May Perform

     If Pledgor fails to perform any agreement contained herein, Secured Party
may itself perform, or cause performance of, such agreement, and the reasonable
expenses of Secured Party incurred in connection therewith shall be payable by
Pledgor under Section 13(b).

9.   Standard of Care

     The powers conferred on Secured Party hereunder are solely to protect its
interest in the Pledged Collateral and shall not impose any duty upon it to
exercise any such powers. Except for the exercise of reasonable care in the
custody of any Pledged

                                                                          PAGE 4
<PAGE>

Collateral in its possession and the accounting for moneys actually received by
it hereunder, Secured Party shall have no duty as to any Pledged Collateral, it
being understood that Secured Party shall have no responsibility for (a)
ascertaining or taking action with respect to calls, conversions, exchanges,
maturities, tenders or other matters relating to any Pledged Collateral, whether
or not Secured Party has or is deemed to have knowledge of such matters, (b)
taking any necessary steps (other than steps taken in accordance with the
standard of care set forth above to maintain possession of the Pledged
Collateral) to preserve rights against any parties with respect to any Pledged
Collateral, (c) taking any necessary steps to collect or realize upon the
Secured Obligations or any guarantee therefor, or any part thereof, or any of
the Pledged Collateral, or (d) initiating any action to protect the Pledged
Collateral against the possibility of a decline in market value. Secured Party
shall be deemed to have exercised reasonable care in the custody and
preservation of Pledged Collateral in its possession if such Pledged Collateral
is accorded treatment substantially equal to that which Secured Party accords
its own property consisting of negotiable securities.

10.  Remedies

     (a)  If any Event of Default shall have occurred and be continuing, Secured
Party may exercise in respect of the Pledged Collateral, in addition to all
other rights and remedies provided for herein or otherwise available to it, all
the rights and remedies of a secured party on default under the Uniform
Commercial Code as in effect in any relevant jurisdiction (the "Code") (whether
or not the Code applies to the affected Pledged Collateral).

     (b)  Pledgor recognizes that, by reason of certain prohibitions contained
in the Securities Act and applicable state securities laws, Secured Party may be
compelled, with respect to any sale of all or any part of the Pledged Collateral
conducted without prior registration or qualification of such Pledged Collateral
under the Securities Act and/or such state securities laws, to limit purchasers
to those who will agree, among other things, to acquire the Pledged Collateral
for their own account, for investment and not with a view to the distribution or
resale thereof. Pledgor acknowledges that any such private sales may be at
prices and on terms less favorable than those obtainable through a public sale
without such restrictions (including, without limitation, a public offering made
pursuant to a registration statement under the Securities Act) and,
notwithstanding such circumstances, Pledgor agrees that the conduct of a private
sale shall be commercially reasonable under the circumstances and that Secured
Party shall have no obligation to engage in public sales and no obligation to
delay the sale of any Pledged Collateral for the period of time necessary to
permit the issuer thereof to register it for a form of public sale requiring
registration under the Securities Act or under applicable state securities laws,
even if such issuer would, or should, agree to so register it.

                                                                          PAGE 5
<PAGE>

11.  Planned Sales

     During the week concluding on the 2/nd/ Friday of the third month in each
calendar quarter, commencing with the week ending September 8, 2000, 15,000
shares of the Pledged Shares shall be sold and applied according to the
priorities set forth in Paragraph 12 of this Agreement; provided, however, any
sales by Pledgor shall remain subject to the pre-clearance and other
requirements of Avenue A's insider trading policy.

12.  Application of Proceeds

     Except as expressly provided elsewhere in this Agreement, all proceeds
received by Secured Party in respect of any sale of, collection from, or other
realization upon all or any part of the Pledged Collateral may, in the
discretion of Secured Party, be held by Secured Party as Pledged Collateral for,
and/or then, or at any time thereafter, applied in full or in part by Secured
Party against, the Secured Obligations in the following order of priority:

     (a)  FIRST: To the payment of all costs and expenses of such sale,
collection or other realization, including reasonable compensation to Secured
Party and its agents and counsel, and all other expenses, liabilities and
advances made or incurred by Secured Party in connection therewith, and all
amounts for which Secured Party is entitled to indemnification hereunder and all
advances made by Secured Party hereunder for the account of Pledgor, and to the
payment of all costs and expenses paid or incurred by Secured Party in
connection with the exercise of any right or remedy hereunder, all in accordance
with Section 13;

     (b)  SECOND: To the payment to Pledgor in the amount of the taxes owed by
Pledgor on account of such sale;

     (c)  THIRD: To the payment of any currently due or past due indebtedness to
igroup2 limited pursuant to a debt secured by a first legal charge on Pledgor's
London residence.

     (d)  FOURTH: To the payment of all Secured Obligations in such order as
Secured Party shall elect; and

     (e)  FIFTH: To the payment to or upon the order of Pledgor, or to whosoever
may be lawfully entitled to receive the same or as a court of competent
jurisdiction may direct, of any surplus then remaining from such proceeds.

                                                                          PAGE 6
<PAGE>

13.  Indemnity and Expenses

     (a)  Pledgor agrees to indemnify Secured Party and each Lender from and
against any and all claims, losses and liabilities in any way relating to,
growing out of or resulting from this Agreement and the transactions
contemplated hereby (including, without limitation, enforcement of this
Agreement), except to the extent such claims, losses or liabilities result
solely from Secured Party's or such Lender's gross negligence or willful
misconduct as finally determined by a court of competent jurisdiction.

     (b)  Pledgor will pay to Secured Party upon demand the amount of any and
all costs and expenses, including the reasonable fees and expenses of its
counsel and of any experts and agents, that Secured Party may incur in
connection with (i) the administration of this Agreement, (ii) the custody or
preservation of, or the sale of, collection from, or other realization upon, any
of the Pledged Collateral, (iii) the exercise or enforcement of any of the
rights of Secured Party hereunder, or (iv) the failure by Pledgor to perform or
observe any of the provisions hereof.

14.  Continuing Security Interest

     (a)  This Agreement shall create a continuing security interest in the
Pledged Collateral and shall (a) remain in full force and effect until the
indefeasible payment in full of all Secured Obligations and the cancellation or
termination of the Commitments, (b) be binding upon Pledgor, its successors and
assigns, and (c) inure, together with the rights and remedies of Secured Party
hereunder, to the benefit of Secured Party and its successors, transferees and
assigns. Subject to subsection 13(b) below, upon the payment in full of all
Secured Obligations, the security interest granted hereby shall terminate and
all rights to the Pledged Collateral shall revert to Pledgor. Upon any such
termination Secured Party will, at Pledgor's expense, execute and deliver to
Pledgor such documents as Pledgor shall reasonably request to evidence such
termination and Pledgor shall be entitled to the return, upon its request and at
its expense, against receipt and without recourse to Secured Party, of such of
the Pledged Collateral as shall not have been sold or otherwise applied pursuant
to the terms hereof.

     (b)  In the event that all or any portion of the Secured Obligations are
paid, the obligations of Pledgor hereunder shall continue and remain in full
force and effect or be reinstated, as the case may be, in the event that all or
any part of such payment(s) are rescinded or recovered directly or indirectly
from Agent or any Lender as a preference, fraudulent transfer or otherwise, and
any such payments which are so rescinded or recovered shall constitute Secured
Obligations for all purposes of this Agreement.

                                                                          PAGE 7
<PAGE>

15.  Amendments, Etc.

     No amendment or waiver of any provision of this Agreement, or consent to
any departure herefrom, shall in any event be effective unless the same shall be
in writing and signed by the party against whom it is sought to be enforced ,
and then such waiver or consent shall be effective only in the specific instance
and for the specific purpose for which it was given.

16.  Notices

     Any notice or other communication herein required or permitted to be given
shall be in writing and may be personally served, telecopied, telexed or sent by
United States mail or courier service and shall be deemed to have been given
when delivered in person or by courier service, upon receipt of telecopy or
telex, or four Business Days after depositing it in the United States mail,
registered or certified, with postage prepaid and properly addressed. For the
purposes hereof, the address of each party hereto shall be as set forth under
such party's name on the signature pages hereof or, as to either party, such
other address as shall be designated by such party in a written notice delivered
to the other party hereto.

17.  Failure or Indulgence Not Waiver; Remedies Cumulative

     No failure or delay on the part of Secured Party in the exercise of any
power, right or privilege hereunder shall impair such power, right or privilege
or be construed to be a waiver of any default or acquiescence therein, nor shall
any single or partial exercise of any such power, right or privilege preclude
any other or further exercise thereof or of any other power, right or privilege.
All rights and remedies existing under this Agreement are cumulative to, and not
exclusive of, any rights or remedies otherwise available.

18.  Severability

     In case any provision in or obligation under this Agreement shall be
invalid, illegal or unenforceable in any jurisdiction, the validity, legality
and enforceability of the remaining provisions or obligations, or of such
provision or obligation in any other jurisdiction, shall not in any way be
affected or impaired thereby.

19.  Headings

     Section and subsection headings in this Agreement are included herein for
convenience of reference only and shall not constitute a part of this Agreement
for any other purpose or be given any substantive effect.

                                                                          PAGE 8
<PAGE>

20.  Governing Law; Terms

     THIS AGREEMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF WASHINGTON, WITHOUT REGARD TO
CONFLICTS OF LAWS PRINCIPLES, EXCEPT TO THE EXTENT THAT THE CODE PROVIDES THAT
THE VALIDITY OR PERFECTION OF THE SECURITY INTEREST HEREUNDER, OR REMEDIES
HEREUNDER, IN RESPECT OF ANY PARTICULAR PLEDGED COLLATERAL ARE GOVERNED BY THE
LAWS OF A JURISDICTION OTHER THAN THE STATE OF WASHINGTON. Unless otherwise
defined herein or in the Loan Agreement, terms used in Article 9 of the Uniform
Commercial Code in the State of Washington are used herein as therein defined.

20.  Consent to Jurisdiction and Service of Process

     ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST PLEDGOR ARISING OUT OF OR RELATING
TO THIS AGREEMENT MAY BE BROUGHT IN ANY STATE OR FEDERAL COURT OF COMPETENT
JURISDICTION IN THE STATE OF WASHINGTON, AND BY EXECUTION AND DELIVERY OF THIS
AGREEMENT PLEDGOR ACCEPTS FOR ITSELF AND IN CONNECTION WITH ITS PROPERTIES,
GENERALLY AND UNCONDITIONALLY, THE NONEXCLUSIVE JURISDICTION OF THE AFORESAID
COURTS AND WAIVES ANY DEFENSE OF FORUM NON CONVENIENS AND IRREVOCABLY AGREES TO
BE BOUND BY ANY JUDGMENT RENDERED THEREBY IN CONNECTION WITH THIS AGREEMENT.
Pledgor hereby agrees that service of process sufficient for personal
jurisdiction in any action against Pledgor in the State of Washington may be
made by registered or certified mail, return receipt requested, to Pledgor at
its address as provided in Section 18 and Pledgor hereby acknowledges that such
service shall be effective and binding in every respect. Nothing herein shall
affect the right to serve process in any other manner permitted by law or shall
limit the right of Pledgor or Secured Party to bring proceedings in the courts
of any other jurisdiction, or to object thereto.

21.  Waiver of Jury Trial

     PLEDGOR AND SECURED PARTY HEREBY AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO
A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS
AGREEMENT. The scope of this waiver is intended to be all-encompassing of any
and all disputes that may be filed in any court and that relate to the subject
matter of this transaction, including without limitation contract claims, tort
claims, breach of duty claims, and all other

                                                                          PAGE 9
<PAGE>

common law and statutory claims. Pledgor and Secured Party each acknowledge that
this waiver is a material inducement for Pledgor and Secured Party to enter into
a business relationship, that Pledgor and Secured Party have already relied on
this waiver in entering into this Agreement and that each will continue to rely
on this waiver in their related future dealings. Pledgor and Secured Party
further warrant and represent that each has reviewed this waiver with its legal
counsel, and that each knowingly and voluntarily waives its jury trial rights
following consultation with legal counsel. THIS WAIVER IS IRREVOCABLE, MEANING
THAT IT MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING, AND THIS WAIVER SHALL
APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO
THIS AGREEMENT. In the event of litigation, this Agreement may be filed as a
written consent to a trial by the court.

22.  Counterparts

     This Agreement may be executed in one or more counterparts and by different
parties hereto in separate counterparts, each of which when so executed and
delivered shall be deemed an original, but all such counterparts together shall
constitute but one and the same instrument; signature pages may be detached from
multiple separate counterparts and attached to a single counterpart so that all
signature pages are physically attached to the same document.

            [The remainder of this page intentionally left blank.]

                                                                         PAGE 10
<PAGE>

     ORAL AGREEMENTS OR ORAL COMMITMENTS TO LOAN MONEY, EXTEND CREDIT, OR
FORBEAR FROM ENFORCING REPAYMENT OF A DEBT ARE NOT ENFORCEABLE UNDER WASHINGTON
LAW.

     IN WITNESS WHEREOF, Pledgor and Secured Party have caused this Agreement to
be duly executed and delivered by their respective officers thereunto duly
authorized as of the date first written above.

                               /s/ NEVE SAVAGE
                               ----------------------------------------------
                               NEVE RICHARD SAVAGE

                               /s/ A. SAVAGE
                               ----------------------------------------------
                               ANN ELIZABETH SAVAGE

                               AVENUE A, INC.

                               By: /s/ J. J. MILLER
                               ----------------------------------------------
                               Title: Jeffrey J. Miller
                                      ---------------------------------------
                                      Vice President
                                      ---------------------------------------
                                      Corporate Development and Legal Affairs
                                      ---------------------------------------
                                      Avenue A, Inc.
                                      ---------------------------------------

                                                                         PAGE 11
<PAGE>

                                  SCHEDULE I
                              to Pledge Agreement

================================================================================
    Certificate    Stock Issuer       Class          Nos.     Par     Shares
================================================================================
1                    Avenue A         Common       AVE 0658   $.01    39,750
--------------------------------------------------------------------------------
2                    Avenue A         Common       AVE 0660   $.01    80,250
================================================================================

                                                                         PAGE 12
<PAGE>

                                  SCHEDULE II
                              to Pledge Agreement

                               PLEDGE AMENDMENT

     This Pledge Amendment, dated __________, is delivered pursuant to Section
5(b) of the Pledge Agreement referred to below. The undersigned hereby agrees
that this Pledge Amendment may be attached to the Pledge Agreement dated August
___, 2000, (the "Pledge Agreement"), between the undersigned and Avenue A, Inc.,
as Secured Party (capitalized terms defined therein being used herein as therein
defined), and that the Pledged Shares listed on this Pledge Amendment shall be
deemed to be part of the Pledged Shares and shall become part of the Pledged
Collateral and shall secure all Secured Obligations.

                                             _________________________________
                                             NEVE RICHARD SAVAGE

                                             _________________________________
                                             ANN ELIZABETH SAVAGE

================================================================================
                                    Debt       Amount
     Cert. Nos.   Stock Issuer     Issuer      of Debt      Value     Shares
================================================================================

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

================================================================================

                                                                         PAGE 13

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