Document:

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                                                               EXHIBIT 10.24

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                               GUARANTEE AGREEMENT

                                 BY AND BETWEEN

                    SEACOAST FINANCIAL SERVICES CORPORATION,
                                  AS GUARANTOR

                                       and

                      STATE STREET BANK AND TRUST COMPANY,
                              AS GUARANTEE TRUSTEE

                                   relating to

                            SEACOAST CAPITAL TRUST I

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

                            Dated as of May 31, 2002

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

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                             CROSS-REFERENCE TABLE*

<TABLE>
<CAPTION>

    SECTION OF
TRUST INDENTURE ACT                                               SECTION OF
OF 1939, AS AMENDED                                          GUARANTEE AGREEMENT
-------------------                                          -------------------
<S>                                                               <C>
310(a)...........................................................   4.1(a)
310(b)...........................................................   4.1(c), 2.8
310(c)...........................................................   Inapplicable
311(a)...........................................................   2.2(b)
311(b)...........................................................   2.2(b)
311(c)...........................................................   Inapplicable
312(a)...........................................................   2.2(a)
312(b)...........................................................   2.2(b)
313..............................................................   2.3
314(a)...........................................................   2.4
314(b)...........................................................   Inapplicable
314(c)...........................................................   2.5
314(d)...........................................................   Inapplicable
314(e)...........................................................   1.1, 2.5, 3.2
314(f)...........................................................   2.1, 3.2
315(a)...........................................................   3.1(d)
315(b)...........................................................   2.7
315(c)...........................................................   3.1
315(d)...........................................................   3.1(d)
316(a)...........................................................   1.1, 2.6, 5.4
316(b)...........................................................   5.3
316(c)...........................................................   8.2
317(a)...........................................................   Inapplicable
317(b)...........................................................   Inapplicable
318(a)...........................................................   2.1
318(b)...........................................................   2.1
318(c)...........................................................   2.1
</TABLE>

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*  This Cross-Reference Table does not constitute part of the Guarantee
   Agreement and shall not affect the interpretation of any of its terms or
   provisions.

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                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                            PAGE
<S>                                                                         <C>
                                    ARTICLE I

                                   DEFINITIONS
SECTION 1.1.  DEFINITIONS...................................................   2

                                   ARTICLE II

                               TRUST INDENTURE ACT

SECTION 2.1.  TRUST INDENTURE ACT; APPLICATION..............................   5
SECTION 2.2.  LIST OF HOLDERS...............................................   5
SECTION 2.3.  REPORTS BY THE GUARANTEE TRUSTEE..............................   6
SECTION 2.4.  PERIODIC REPORTS TO THE GUARANTEE TRUSTEE.....................   6
SECTION 2.5.  EVIDENCE OF COMPLIANCE WITH CONDITIONS PRECEDENT..............   6
SECTION 2.6.  EVENTS OF DEFAULT; WAIVER.....................................   6
SECTION 2.7.  EVENT OF DEFAULT; NOTICE......................................   6
SECTION 2.8.  CONFLICTING INTERESTS.........................................   7

                                   ARTICLE III

               POWERS, DUTIES AND RIGHTS OF THE GUARANTEE TRUSTEE

SECTION 3.1.  POWERS AND DUTIES OF THE GUARANTEE TRUSTEE....................   7
SECTION 3.2.  CERTAIN RIGHTS OF GUARANTEE TRUSTEE...........................   9
SECTION 3.3.  COMPENSATION; INDEMNITY; FEES.................................  10

                                   ARTICLE IV

                                GUARANTEE TRUSTEE

SECTION 4.1.  GUARANTEE TRUSTEE; ELIGIBILITY................................  11
SECTION 4.2.  APPOINTMENT, REMOVAL AND RESIGNATION OF THE GUARANTEE
                TRUSTEE.....................................................  12
</TABLE>

                                      -i-
<PAGE>

<TABLE>
<CAPTION>
                                                                            PAGE
<S>                                                                         <C>
                                    ARTICLE V

                                    GUARANTEE

SECTION 5.1.  GUARANTEE.....................................................  12
SECTION 5.2.  WAIVER OF NOTICE AND DEMAND...................................  12
SECTION 5.3.  OBLIGATIONS NOT AFFECTED......................................  13
SECTION 5.4.  RIGHTS OF HOLDERS.............................................  14
SECTION 5.5.  GUARANTEE OF PAYMENT..........................................  14
SECTION 5.6.  SUBROGATION...................................................  14
SECTION 5.7.  INDEPENDENT OBLIGATIONS.......................................  14

                                   ARTICLE VI

                           COVENANTS AND SUBORDINATION

 SECTION 6.1.  SUBORDINATION................................................  15
 SECTION 6.2.  PARI PASSU GUARANTEES........................................  15

                                   ARTICLE VII

                                   TERMINATION

SECTION 7.1.  TERMINATION...................................................  15

                                  ARTICLE VIII

                                  MISCELLANEOUS

SECTION 8.1.  SUCCESSORS AND ASSIGNS........................................  16
SECTION 8.2.  AMENDMENTS....................................................  16
SECTION 8.3.  NOTICES.......................................................  16
SECTION 8.4.  BENEFIT.......................................................  17
SECTION 8.5.  GOVERNING LAW.................................................  17
SECTION 8.6.  COUNTERPARTS..................................................  17
</TABLE>

                                      -ii-

<PAGE>

     GUARANTEE AGREEMENT, dated as of May 31, 2002, between SEACOAST
FINANCIAL SERVICES CORPORATION, a Massachusetts corporation (the
"GUARANTOR"), having its principal office at One Compass Place, New Bedford,
Massachusetts 02740, and STATE STREET BANK AND TRUST COMPANY, as trustee (the
"GUARANTEE TRUSTEE"), for the benefit of the Holders (as defined herein) from
time to time of the Trust Preferred Securities (as defined herein) of
seACOAST CAPITAL Trust I, a Delaware statutory business trust (the "ISSUER
TRUST").

                            RECITALS OF THE GUARANTOR

     WHEREAS, pursuant to an Amended and Restated Trust Agreement, dated as
of May 31, 2002 (the "TRUST AGREEMENT"), among Seacoast Financial Services
Corporation, as Depositor, the Property Trustee, the Delaware Trustee, the
Administrative Trustees named therein and the several Holders, the Issuer
Trust is issuing $50,000,000 aggregate Liquidation Amount (as defined in the
Trust Agreement) of its 8.50% Trust Preferred Securities, (Liquidation Amount
$25 per Trust Preferred Security) (and may issue up to an additional
$7,500,000 aggregate Liquidation Amount of such securities) (collectively,
the "TRUST PREFERRED SECURITIES"), representing preferred undivided
beneficial interests in the assets of the Issuer Trust and having the terms
set forth in the Trust Agreement; and

     WHEREAS, the Trust Preferred Securities will be issued by the Issuer Trust
and the proceeds thereof, together with the proceeds from the issuance of the
Issuer Trust's Common Securities (as defined herein), will be used to purchase
the Debentures (as defined in the Trust Agreement) of the Guarantor, which
Debentures will be deposited with State Street Bank and Trust Company, as
Property Trustee under the Trust Agreement, as trust assets; and

     WHEREAS, as an incentive for the Holders to purchase the Trust Preferred
Securities, the Guarantor desires irrevocably and unconditionally to agree, to
the extent set forth herein, to pay to the Holders of the Trust Preferred
Securities the Guarantee Payments (as defined herein) and to make certain other
payments on the terms and conditions set forth herein.

     NOW, THEREFORE, in consideration of the purchase of the Trust Preferred
Securities by each Holder, which purchase the Guarantor hereby acknowledges
shall benefit the Guarantor, the Guarantor executes and delivers this Guarantee
Agreement for the benefit of the Holders from time to time.

<PAGE>

                                   ARTICLE I

                                   DEFINITIONS

     SECTION 1.1. DEFINITIONS.

     For all purposes of this Guarantee Agreement, except as otherwise expressly
provided or unless the context otherwise requires:

     (a) The terms defined in this Article have the meanings assigned to them in
this Article, and include the plural as well as the singular;

     (b) All other terms used herein that are defined in the Trust Indenture
Act, either directly or by reference therein, have the meanings assigned to them
therein;

     (c) The words "include", "includes" and "including" shall be deemed to be
followed by the phrase "without limitation";

     (d) All accounting terms used but not defined herein have the meanings
assigned to them in accordance with United States generally accepted accounting
principles;

     (e) Unless the context otherwise requires, any reference to an "Article" or
a "Section" refers to an Article or a Section, as the case may be, of this
Guarantee Agreement; and

     (f) The words "hereby", "herein", "hereof" and "hereunder" and other words
of similar import refer to this Guarantee Agreement as a whole and not to any
particular Article, Section or other subdivision.

     "AFFILIATE" of any specified Person means any other Person directly or
indirectly controlling or controlled by or under direct or indirect common
control with such specified Person. For the purposes of this definition,
"CONTROL", when used with respect to any specified Person, means the power to
direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise;
and the terms "CONTROLLING" and "CONTROLLED" have meanings correlative to the
foregoing.

     "BOARD OF DIRECTORS" means the board of directors of the Guarantor or the
Executive Committee of the board of directors of the Guarantor (or any other
committee of the board of directors of the Guarantor performing similar
functions) or a committee designated by the board of directors of the Guarantor
(or such committee), comprised of two or more members of the board of directors
of the Guarantor or officers of the Guarantor, or both.

     "COMMON SECURITIES" means the securities representing common undivided
beneficial interests in the assets of the Issuer Trust.

                                      -2-

<PAGE>

     "EVENT OF DEFAULT" means (i) a default by the Guarantor in any of its
payment obligations under this Guarantee Agreement or (ii) a default by the
Guarantor in any other obligation hereunder that remains unremedied for 30 days.

     "GUARANTEE AGREEMENT" means this Guarantee Agreement, as modified, amended
or supplemented from time to time.

     "GUARANTEE PAYMENTS" means the following payments or distributions, without
duplication, with respect to the Trust Preferred Securities, to the extent not
paid or made by or on behalf of the Issuer Trust: (i) any accumulated and unpaid
Distributions (as defined in the Trust Agreement) required to be paid on the
Trust Preferred Securities, to the extent the Issuer Trust shall have funds on
hand available therefor at such time; (ii) the Redemption Price (as defined in
the Trust Agreement) with respect to any Trust Preferred Securities called for
redemption by the Issuer Trust, to the extent the Issuer Trust shall have funds
on hand available therefor at such time; and (iii) upon a voluntary or
involuntary termination, winding-up or liquidation of the Issuer Trust, unless
Debentures are distributed to the Holders, the lesser of (a) the Liquidation
Distribution (as defined in the Trust Agreement) with respect to the Trust
Preferred Securities, to the extent that the Issuer Trust shall have funds on
hand available therefor at such time, and (b) the amount of assets of the Issuer
Trust remaining available for distribution to Holders on liquidation of the
Issuer.

     "GUARANTEE TRUSTEE" means State Street Bank and Trust Company, solely in
its capacity as Guarantee Trustee and not in its individual capacity, until a
Successor Guarantee Trustee has been appointed and has accepted such appointment
pursuant to the terms of this Guarantee Agreement, and thereafter means each
such Successor Guarantee Trustee.

     "GUARANTOR" has the meaning specified in the first paragraph of this
Guarantee Agreement.

     "HOLDER" means any Holder (as defined in the Trust Agreement) of any Trust
Preferred Securities; PROVIDED, HOWEVER, that in determining whether the holders
of the requisite percentage of Trust Preferred Securities have given any
request, notice, consent or waiver hereunder, "Holder" shall not include the
Guarantor, the Guarantee Trustee, or any Affiliate of the Guarantor or the
Guarantee Trustee.

     "INDENTURE" means the Junior Subordinated Indenture, dated as of May 31,
2002, between Seacoast Financial Services Corporation and State Street Bank
and Trust Company, as trustee, as the same may be modified, amended or
supplemented from time to time.

     "ISSUER TRUST" has the meaning specified in the first paragraph of this
Guarantee Agreement.

     "LIST OF HOLDERS" has the meaning specified in Section 2.2(a).

                                      -3-

<PAGE>

     "MAJORITY IN LIQUIDATION AMOUNT OF THE TRUST PREFERRED SECURITIES" means,
except as provided by the Trust Indenture Act, Trust Preferred Securities
representing more than 50% of the aggregate Liquidation Amount (as defined in
the Trust Agreement) of all Trust Preferred Securities then Outstanding (as
defined in the Trust Agreement).

     "OFFICERS' CERTIFICATE" means, with respect to any Person, a certificate
signed by the Chairman or a Vice Chairman of the Board of Directors of such
Person or the President or a Vice President of such Person, and by the
Treasurer, an Assistant Treasurer, the Secretary or an Assistant Secretary of
the Guarantor, and delivered to the Guarantee Trustee. Any Officers' Certificate
delivered with respect to compliance with a condition or covenant provided for
in this Guarantee Agreement shall include:

     (a) a statement by each officer signing the Officers' Certificate that such
officer has read the covenant or condition and the definitions relating thereto;

     (b) a brief statement of the nature and scope of the examination or
investigation undertaken by such officer in rendering the Officers' Certificate;

     (c) a statement that such officer has made such examination or
investigation as, in such officer's opinion, is necessary to enable such officer
to express an informed opinion as to whether or not such covenant or condition
has been complied with; and

     (d) a statement as to whether, in the opinion of such officer, such
condition or covenant has been complied with.

     "PERSON" means a legal person, including any individual, corporation,
estate, partnership, joint venture, association, joint-stock company, company,
limited liability company, trust, business trust, unincorporated association, or
government or any agency or political subdivision thereof, or any other entity
of whatever nature.

     "RESPONSIBLE OFFICER" means, with respect to the Guarantee Trustee, any
Senior Vice President, any Vice President, any Assistant Vice President, or any
Assistant Secretary working in its Corporate Trust Department or any other
officer of the Corporate Trust Department of the Guarantee Trustee and also
means, with respect to a particular matter, any other officer to whom such
matter is referred because of that officer's knowledge of and familiarity with
the particular subject.

     "SUCCESSOR GUARANTEE TRUSTEE" means a successor Guarantee Trustee
possessing the qualifications to act as Guarantee Trustee under Section 4.1.

     "TRUST AGREEMENT" means the Amended and Restated Trust Agreement of the
Issuer Trust referred to in the recitals to this Guarantee Agreement, as
modified, amended or supplemented from time to time.

     "TRUST INDENTURE ACT" means the Trust Indenture Act of 1939 as in force at
the date as of which this Guarantee Agreement was executed; PROVIDED, HOWEVER,
that in the
                                      -4-

<PAGE>

 event the Trust Indenture Act of 1939 is amended after such date,
"Trust Indenture Act" means, to the extent required by any such amendment, the
Trust Indenture Act of 1939 as so amended.

     "TRUST PREFERRED SECURITIES" has the meaning specified in the recitals to
this Guarantee Agreement.

     "VICE PRESIDENT," when used with respect to the Guarantor, means any duly
appointed vice president, whether or not designated by a number or a word or
words added before or after the title "vice president."

                                   ARTICLE II

                               TRUST INDENTURE ACT

     SECTION 2.1. TRUST INDENTURE ACT; APPLICATION.

     (a) This Guarantee Agreement is subject to the provisions of the Trust
Indenture Act that are required to be part of this Guarantee Agreement and
shall, to the extent applicable, be governed by such provisions.

     (b) If and to the extent that any provision of this Guarantee Agreement
limits, qualifies or conflicts with the duties imposed by Section 310 and 317,
inclusive, of the Trust Indenture Act through operation of Section 318(c)
thereof, such imposed duties shall control. If any provision of this Guarantee
Agreement modifies or excludes any provision of the Trust Indenture Act which
may be so modified or excluded, the latter provision shall be deemed to apply to
this Guarantee Agreement as so modified or to be excluded, as the case may be.

     SECTION 2.2. LIST OF HOLDERS.

     (a) The Guarantor shall furnish or cause to be furnished to the Guarantee
Trustee (a) semiannually, on or before June 30 and December 31 of each year, a
list, in such form as the Guarantee Trustee may reasonably require, of the names
and addresses of the Holders (a "LIST OF HOLDERS") as of a date not more than 15
days prior to the delivery thereof, and (b) at such other times as the Guarantee
Trustee may request in writing, within 30 days after the receipt by the
Guarantor of any such request, a List of Holders as of a date not more than 15
days prior to the time such list is furnished, in each case to the extent such
information is in the possession or control of the Guarantor and has not
otherwise been received by the Guarantee Trustee in its capacity as such. The
Guarantee Trustee may destroy any List of Holders previously given to it on
receipt of a new List of Holders.

     (b) The Guarantee Trustee shall comply with the requirements of Section
311(a), Section 311(b) and Section 312(b) of the Trust Indenture Act.

                                      -5-

<PAGE>

     SECTION 2.3. REPORTS BY THE GUARANTEE TRUSTEE.

     Not later than 60 days after May 15 of each year, commencing with May 15,
2003, the Guarantee Trustee shall provide to the Holders such reports as are
required by Section 313 of the Trust Indenture Act, if any, dated as of May 15
of such year and in the form and in the manner provided by Section 313 of the
Trust Indenture Act. The Guarantee Trustee shall also comply with the
requirements of Section 313(d) of the Trust Indenture Act.

     SECTION 2.4. PERIODIC REPORTS TO THE GUARANTEE TRUSTEE.

     The Guarantor shall provide to the Guarantee Trustee, the Securities and
Exchange Commission and the Holders such documents, reports and information, if
any, as required by Section 314 of the Trust Indenture Act and the compliance
certificate required by Section 314 of the Trust Indenture Act, in the form, in
the manner and at the times required by Section 314 of the Trust Indenture Act.

     SECTION 2.5. EVIDENCE OF COMPLIANCE WITH CONDITIONS PRECEDENT.

     The Guarantor shall provide to the Guarantee Trustee such evidence of
compliance with such conditions precedent, if any, provided for in this
Guarantee Agreement that relate to any of the matters set forth in Section
314(c) of the Trust Indenture Act. Any certificate or opinion required to be
given by an officer of the Guarantor pursuant to Section 314(c)(1) may be given
in the form of an Officers' Certificate.

     SECTION 2.6. EVENTS OF DEFAULT; WAIVER.

     The Holders of at least a Majority in Liquidation Amount of the Trust
Preferred Securities may, by vote, on behalf of the Holders of all the Trust
Preferred Securities, waive any past default or Event of Default and its
consequences. Upon such waiver, any such default or Event of Default shall cease
to exist, and any default or Event of Default arising therefrom shall be deemed
to have been cured, for every purpose of this Guarantee Agreement, but no such
waiver shall extend to any subsequent or other default or Event of Default or
impair any right consequent thereon.

     SECTION 2.7. EVENT OF DEFAULT; NOTICE.

     (a) The Guarantee Trustee shall, within 90 days after the occurrence of an
Event of Default known to the Guarantee Trustee, transmit by mail, first class
postage prepaid, to the Holders, notice of any such Event of Default, unless
such Event of Default has been cured before the giving of such notice; PROVIDED
that, except in the case of a default in the payment of a Guarantee Payment, the
Guarantee Trustee shall be protected in withholding such notice if and so long
as the board of directors, the executive committee or a trust committee of
directors and/or Responsible Officers of the Guarantee Trustee in

                                      -6-

<PAGE>

good faith determines that the withholding of such notice is in the interests of
the Holders.

     (b) The Guarantee Trustee shall not be deemed to have knowledge of any
Event of Default unless the Guarantee Trustee shall have received written
notice, or a Responsible Officer charged with the administration of this
Guarantee Agreement shall have obtained actual knowledge, of such Event of
Default.

     SECTION 2.8. CONFLICTING INTERESTS.

     The Trust Agreement and the Indenture shall be deemed to be specifically
described in this Guarantee Agreement for the purposes of clause (i) of the
first proviso contained in Section 310(b) of the Trust Indenture Act.

                                  ARTICLE III

               POWERS, DUTIES AND RIGHTS OF THE GUARANTEE TRUSTEE

     SECTION 3.1. POWERS AND DUTIES OF THE GUARANTEE TRUSTEE.

     (a) This Guarantee Agreement shall be held by the Guarantee Trustee for the
benefit of the Holders, and the Guarantee Trustee shall not transfer this
Guarantee Agreement to any Person except to a Successor Guarantee Trustee on
acceptance by such Successor Guarantee Trustee of its appointment to act as
Guarantee Trustee hereunder. The right, title and interest of the Guarantee
Trustee, as such, hereunder shall automatically vest in any Successor Guarantee
Trustee, upon acceptance by such Successor Guarantee Trustee of its appointment
hereunder, and such vesting and cessation of title shall be effective whether or
not conveyancing documents have been executed and delivered pursuant to the
appointment of such Successor Guarantee Trustee.

     (b) If an Event of Default has occurred and is continuing, the Guarantee
Trustee shall enforce this Guarantee Agreement for the benefit of the Holders,
subject to the terms of this Guarantee Agreement.

     (c) The Guarantee Trustee, before the occurrence of any Event of Default
and after the curing of all Events of Default that may have occurred, shall
undertake to perform only such duties as are specifically set forth in this
Guarantee Agreement, and no implied covenants shall be read into this Guarantee
Agreement against the Guarantee Trustee. During the occurrence of an Event of
Default the Guarantee Trustee shall exercise such of the rights and powers
vested in it by this Guarantee Agreement, and use the same degree of care and
skill in its exercise thereof, as a prudent person would exercise or use under
the circumstances in the conduct of his or her own affairs.

                                      -7-

<PAGE>

     (d) No provision of this Guarantee Agreement shall be construed to relieve
the Guarantee Trustee from liability for its own negligent action, its own
negligent failure to act or its own wilful misconduct, except that:

          (i) Prior to the occurrence of any Event of Default and after the
     curing or waiving of all such Events of Default that may have occurred:

               (A) the duties and obligations of the Guarantee Trustee shall be
          determined solely by the express provisions of this Guarantee
          Agreement (including pursuant to Section 2.1), and the Guarantee
          Trustee shall not be liable except for the performance of such duties
          and obligations as are specifically set forth in this Guarantee
          Agreement; and

               (B) in the absence of bad faith on the part of the Guarantee
          Trustee, the Guarantee Trustee may conclusively rely, as to the truth
          of the statements and the correctness of the opinions expressed
          therein, upon any certificates or opinions furnished to the Guarantee
          Trustee and conforming to the requirements of this Guarantee
          Agreement; but in the case of any such certificates or opinions that
          by any provision hereof or of the Trust Indenture Act are specifically
          required to be furnished to the Guarantee Trustee, the Guarantee
          Trustee shall be under a duty to examine the same to determine whether
          or not they conform to the requirements of this Guarantee Agreement.

          (ii) The Guarantee Trustee shall not be liable for any error of
     judgment made in good faith by a Responsible Officer of the Guarantee
     Trustee, unless it shall be proved that the Guarantee Trustee was negligent
     in ascertaining the pertinent facts upon which such judgment was made.

          (iii) The Guarantee Trustee shall not be liable with respect to any
     action taken or omitted to be taken by it in good faith in accordance with
     the direction of the Holders of not less than a Majority in Liquidation
     Amount of the Trust Preferred Securities relating to the time, method and
     place of conducting any proceeding for any remedy available to the
     Guarantee Trustee, or exercising any trust or power conferred upon the
     Guarantee Trustee under this Guarantee Agreement.

          (iv) No provision of this Guarantee Agreement shall require the
     Guarantee Trustee to expend or risk its own funds or otherwise incur
     personal financial liability in the performance of any of its duties or in
     the exercise of any of its rights or powers, if the Guarantee Trustee shall
     have reasonable grounds for believing that the repayment of such funds or
     liability is not reasonably assured to it under the terms of this Guarantee
     Agreement or adequate indemnity against such risk or liability is not
     reasonably assured to it.

                                      -8-

<PAGE>

          SECTION 3.2. CERTAIN RIGHTS OF GUARANTEE TRUSTEE.

     (a) Subject to the provisions of Section 3.1:

          (i) The Guarantee Trustee may rely and shall be fully protected in
     acting or refraining from acting upon any resolution, certificate,
     statement, instrument, opinion, report, notice, request, direction,
     consent, order, bond, debenture, note, other evidence of indebtedness or
     other paper or document reasonably believed by it to be genuine and to have
     been signed, sent or presented by the proper party or parties.

          (ii) Any direction or act of the Guarantor contemplated by this
     Guarantee Agreement shall be sufficiently evidenced by an Officers'
     Certificate unless otherwise prescribed herein.

          (iii) Whenever, in the administration of this Guarantee Agreement, the
     Guarantee Trustee shall deem it desirable that a matter be proved or
     established before taking, suffering or omitting to take any action
     hereunder, the Guarantee Trustee (unless other evidence is herein
     specifically prescribed) may, in the absence of bad faith on its part,
     request and rely upon an Officers' Certificate which, upon receipt of such
     request from the Guarantee Trustee, shall be promptly delivered by the
     Guarantor.

          (iv) The Guarantee Trustee may consult with legal counsel, and the
     written advice or opinion of such legal counsel with respect to legal
     matters shall be full and complete authorization and protection in respect
     of any action taken, suffered or omitted to be taken by it hereunder in
     good faith and in accordance with such advice or opinion. Such legal
     counsel may be (but is not required to be) legal counsel to the Guarantor
     or any of its Affiliates and may be one of its employees. The Guarantee
     Trustee shall have the right at any time to seek instructions concerning
     the administration of this Guarantee Agreement from any court of competent
     jurisdiction.

          (v) The Guarantee Trustee shall be under no obligation to exercise any
     of the rights or powers vested in it by this Guarantee Agreement at the
     request or direction of any Holder unless such Holder shall have provided
     to the Guarantee Trustee such adequate security and indemnity as would
     satisfy a reasonable person in the position of the Guarantee Trustee
     against the costs, expenses (including attorneys' fees and expenses) and
     liabilities that might be incurred by it in complying with such request or
     direction, including such reasonable advances as may be requested by the
     Guarantee Trustee; provided that nothing contained in this Section
     3.2(a)(v) shall be taken to relieve the Guarantee Trustee, upon the
     occurrence of an Event of Default, of its obligation otherwise, in the
     absence of any such direction or request of Holders, to exercise the rights
     and powers vested in it by this Guarantee Agreement.

                                      -9-

<PAGE>

          (vi) The Guarantee Trustee shall not be bound to make any
     investigation into the facts or matters stated in any resolution,
     certificate, statement, instrument, opinion, report, notice, request,
     direction, consent, order, bond, debenture, note, other evidence of
     indebtedness or other paper or document, but the Guarantee Trustee, in its
     discretion, may make such further inquiry or investigation into such facts
     or matters as it may see fit.

          (vii) The Guarantee Trustee may execute any of the trusts or powers
     hereunder or perform any duties hereunder either directly or by or through
     its agents or attorneys, and the Guarantee Trustee shall not be responsible
     for any misconduct or negligence on the part of any such agent or attorney
     appointed by it with due care hereunder.

          (viii) Whenever in the administration of this Guarantee Agreement the
     Guarantee Trustee shall deem it desirable to receive instructions with
     respect to enforcing any remedy or right or taking any other action
     hereunder, the Guarantee Trustee (A) may request instructions from the
     Holders, (B) may refrain from enforcing such remedy or right or taking such
     other action until such instructions are received, and (C) shall be
     protected in acting in accordance with such instructions.

     (b) No provision of this Guarantee Agreement shall be deemed to impose any
duty or obligation on the Guarantee Trustee to perform any act or acts or
exercise any right, power, duty or obligation conferred or imposed on it in any
jurisdiction in which it shall be illegal, or in which the Guarantee Trustee
shall be unqualified or incompetent in accordance with applicable law, to
perform any such act or acts or to exercise any such right, power, duty or
obligation. No permissive power or authority available to the Guarantee Trustee
shall be construed to be a duty to act in accordance with such power and
authority.

     SECTION 3.3. COMPENSATION; INDEMNITY; FEES.

     The Guarantor agrees:

     (a) to pay to the Guarantee Trustee from time to time such reasonable
compensation for all services rendered by it hereunder as may be agreed by the
Guarantor and the Guarantee Trustee from time to time (which compensation shall
not be limited by any provision of law in regard to the compensation of a
trustee of an express trust);

     (b) except as otherwise expressly provided herein, to reimburse the
Guarantee Trustee upon request for all reasonable expenses, disbursements and
advances incurred or made by the Guarantee Trustee in accordance with any
provision of this Guarantee Agreement (including the reasonable compensation and
the expenses and disbursements of its agents and counsel), except any such

                                      -10-

<PAGE>

expense, disbursement or advance as may be attributable to its negligence or bad
faith; and

     (c) to indemnify the Guarantee Trustee for, and to hold it harmless
against, any loss, liability or expense incurred without negligence, wilful
misconduct or bad faith on the part of the Guarantee Trustee, arising out of or
in connection with the acceptance or administration of this Guarantee Agreement,
including the costs and expenses of defending itself against any claim or
liability in connection with the exercise or performance of any of its powers or
duties hereunder.

The Guarantee Trustee will not claim or exact any lien or charge on any
Guarantee Payments as a result of any amount due to it under this Guarantee
Agreement. The provisions of this Section 3.3 shall survive the termination of
this Guarantee Agreement or the resignation or removal of the Guarantee Trustee.

                                   ARTICLE IV

                                GUARANTEE TRUSTEE

     SECTION 4.1. GUARANTEE TRUSTEE; ELIGIBILITY.

     (a) There shall at all times be a Guarantee Trustee which shall:

          (i) not be an Affiliate of the Guarantor; and

          (ii) be a Person that is eligible pursuant to the Trust Indenture Act
     to act as such and has a combined capital and surplus of at least
     $50,000,000, and shall be a corporation meeting the requirements of Section
     310(a) of the Trust Indenture Act. If such corporation publishes reports of
     condition at least annually, pursuant to law or to the requirements of its
     supervising or examining authority, then, for the purposes of this Section
     4.1 and to the extent permitted by the Trust Indenture Act, the combined
     capital and surplus of such corporation shall be deemed to be its combined
     capital and surplus as set forth in its most recent report of condition so
     published.

     (b) If at any time the Guarantee Trustee shall cease to be eligible to so
act under Section 4.1(a), the Guarantee Trustee shall immediately resign in the
manner and with the effect set out in Section 4.2.

     (c) If the Guarantee Trustee has or shall acquire any "conflicting
interest" within the meaning of Section 310(b) of the Trust Indenture Act, the
Guarantee Trustee and Guarantor shall in all respects comply with the provisions
of Section 310(b) of the Trust Indenture Act.

                                      -11-

<PAGE>

     SECTION 4.2. APPOINTMENT, REMOVAL AND RESIGNATION OF THE GUARANTEE TRUSTEE.

     (a) Subject to Section 4.2(b), the Guarantee Trustee may be appointed or
removed without cause at any time by the Guarantor.

     (b) The Guarantee Trustee shall not be removed until a Successor Guarantee
Trustee has been appointed and has accepted such appointment by written
instrument executed by such Successor Guarantee Trustee and delivered to the
Guarantor.

     (c) The Guarantee Trustee appointed hereunder shall hold office until a
Successor Guarantee Trustee shall have been appointed or until its removal or
resignation. The Guarantee Trustee may resign from office (without need for
prior or subsequent accounting) by an instrument in writing executed by the
Guarantee Trustee and delivered to the Guarantor, which resignation shall not
take effect until a Successor Guarantee Trustee has been appointed and has
accepted such appointment by instrument in writing executed by such Successor
Guarantee Trustee and delivered to the Guarantor and the resigning Guarantee
Trustee.

     (d) If no Successor Guarantee Trustee shall have been appointed and
accepted appointment as provided in this Section 4.2 within 60 days after
delivery to the Guarantor of an instrument of resignation, the resigning
Guarantee Trustee may petition, at the expense of the Guarantor, any court of
competent jurisdiction for appointment of a Successor Guarantee Trustee. Such
court may thereupon, after prescribing such notice, if any, as it may deem
proper, appoint a Successor Guarantee Trustee.

                                   ARTICLE V

                                    GUARANTEE

     SECTION 5.1. GUARANTEE.

     The Guarantor irrevocably and unconditionally agrees to pay in full to the
Holders the Guarantee Payments (without duplication of amounts theretofore paid
by or on behalf of the Issuer Trust), as and when due, regardless of any
defense, right of set-off or counterclaim that the Issuer Trust may have or
assert, except the defense of payment. The Guarantor's obligation to make a
Guarantee Payment may be satisfied by direct payment of the required amounts by
the Guarantor to the Holders or by causing the Issuer Trust to pay such amounts
to the Holders.

     SECTION 5.2. WAIVER OF NOTICE AND DEMAND.

     The Guarantor hereby waives notice of acceptance of this Guarantee
Agreement and of any liability to which it applies or may apply, presentment,
demand for payment, any right to require a proceeding first against the
Guarantee Trustee, the Issuer Trust or

                                      -12-

<PAGE>

any other Person before proceeding against the Guarantor, protest, notice of
nonpayment, notice of dishonor, notice of redemption and all other notices and
demands.

     SECTION 5.3. OBLIGATIONS NOT AFFECTED.

     The obligations, covenants, agreements and duties of the Guarantor under
this Guarantee Agreement shall in no way be affected or impaired by reason of
the happening from time to time of any of the following:

     (a) the release or waiver, by operation of law or otherwise, of the
performance or observance by the Issuer Trust of any express or implied
agreement, covenant, term or condition relating to the Trust Preferred
Securities to be performed or observed by the Issuer Trust;

     (b) the extension of time for the payment by the Issuer Trust of all or any
portion of the Distributions (as defined in the Trust Agreement) (other than an
extension of time for payment of Distributions that results from the extension
of any interest payment period on the Debentures as provided in the Indenture),
Redemption Price (as defined in the Trust Agreement), Liquidation Distribution
(as defined in the Trust Agreement), or any other sums payable under the terms
of the Trust Preferred Securities or the extension of time for the performance
of any other obligation under, arising out of, or in connection with, the Trust
Preferred Securities;

     (c) any failure, omission, delay or lack of diligence on the part of the
Holders to enforce, assert or exercise any right, privilege, power or remedy
conferred on the Holders pursuant to the terms of the Trust Preferred
Securities, or any action on the part of the Issuer Trust granting indulgence or
extension of any kind;

     (d) the voluntary or involuntary liquidation, dissolution, receivership,
insolvency, bankruptcy, assignment for the benefit of creditors, reorganization,
arrangement, composition or readjustment of debt of, or other similar
proceedings affecting, the Issuer Trust or any of the assets of the Issuer
Trust;

     (e) any invalidity of, or defect or deficiency in, the Trust Preferred
Securities;

     (f) the settlement or compromise of any obligation guaranteed hereby or
hereby incurred; or

     (g) any other circumstance whatsoever that might otherwise constitute a
legal or equitable discharge or defense of a guarantor (other than payment of
the underlying obligation), it being the intent of this Section 5.3 that the
obligations of the Guarantor hereunder shall be absolute and unconditional under
any and all circumstances.

                                      -13-

<PAGE>

There shall be no obligation of the Holders to give notice to, or obtain the
consent of, the Guarantor with respect to the happening of any of the foregoing.

     SECTION 5.4. RIGHTS OF HOLDERS.

     The Guarantor expressly acknowledges that: (i) this Guarantee Agreement
will be deposited with the Guarantee Trustee to be held for the benefit of the
Holders; (ii) the Guarantee Trustee has the right to enforce this Guarantee
Agreement on behalf of the Holders; (iii) the Holders of a Majority in
Liquidation Amount of the Trust Preferred Securities have the right to direct
the time, method and place of conducting any proceeding for any remedy available
to the Guarantee Trustee in respect of this Guarantee Agreement or exercising
any trust or power conferred upon the Guarantee Trustee under this Guarantee
Agreement; and (iv) any Holder may institute a legal proceeding directly against
the Guarantor to enforce its rights under this Guarantee Agreement without first
instituting a legal proceeding against the Guarantee Trustee, the Issuer Trust
or any other Person.

     SECTION 5.5. GUARANTEE OF PAYMENT.

     This Guarantee Agreement creates a guarantee of payment and not of
collection. This Guarantee Agreement will not be discharged except by payment of
the Guarantee Payments in full (without duplication of amounts theretofore paid
by the Issuer Trust) or upon the distribution of Debentures to Holders as
provided in the Trust Agreement.

     SECTION 5.6. SUBROGATION.

     The Guarantor shall be subrogated to all rights (if any) of the Holders
against the Issuer Trust in respect of any amounts paid to the Holders by the
Guarantor under this Guarantee Agreement; PROVIDED, HOWEVER, that the Guarantor
shall not (except to the extent required by mandatory provisions of law) be
entitled to enforce or exercise any rights which it may acquire by way of
subrogation or any indemnity, reimbursement or other agreement, in all cases as
a result of payment under this Guarantee Agreement, if, at the time of any such
payment, any amounts are due and unpaid under this Guarantee Agreement. If any
amount shall be paid to the Guarantor in violation of the preceding sentence,
the Guarantor agrees to hold such amount in trust for the Holders and to pay
over such amount to the Holders.

     SECTION 5.7. INDEPENDENT OBLIGATIONS.

     The Guarantor acknowledges that its obligations hereunder are independent
of the obligations of the Issuer Trust with respect to the Trust Preferred
Securities and that the Guarantor shall be liable as principal and as debtor
hereunder to make Guarantee Payments pursuant to the terms of this Guarantee
Agreement notwithstanding the occurrence of any event referred to in subsections
(a) through (g), inclusive, of Section 5.3 hereof.

                                      -14-

<PAGE>

                                   ARTICLE VI

                           COVENANTS AND SUBORDINATION

     SECTION 6.1. SUBORDINATION.

     The obligations of the Guarantor under this Guarantee Agreement (other than
obligations to the Guarantee Trustee pursuant to Section 3.3) will constitute
unsecured obligations of the Guarantor and will rank subordinate and junior in
right of payment to all Senior Debt (as defined in the Indenture) of the
Guarantor to the extent and in the manner set forth in the Indenture with
respect to the Debentures, and the provisions of Article XIII of the Indenture
will apply, MUTATIS MUTANDIS, to the obligations of the Guarantor hereunder
(other than obligations to the Guarantee Trustee pursuant to Section 3.3). The
obligations of the Guarantor hereunder (other than obligations to the Guarantee
Trustee pursuant to Section 3.3) do not constitute Senior Debt (as defined in
the Indenture) of the Guarantor.

     SECTION 6.2. PARI PASSU GUARANTEES.

     (a) Subject to Section 6.2(b) below, the obligations of the Guarantor under
this Guarantee Agreement shall rank PARI PASSU with the obligations of the
Guarantor under (i) any similar guarantee agreements issued by the Guarantor on
behalf of the holders of preferred or capital securities issued by any Issuer
Trust (as defined in the Indenture), (ii) the Indenture and the Securities (as
defined therein) issued thereunder, (iii) the Expense Agreement (as defined in
the Trust Agreement) and any similar expense agreements entered into by the
Guarantor in connection with the offering of Trust Preferred Securities (as
defined in the Indenture) by any Issuer Trust (as defined in the Indenture), and
(iv) any other security, guarantee or other agreement or obligation that is
expressly stated to rank PARI PASSU with the obligations of the Guarantor under
this Guarantee Agreement or with any obligation that ranks PARI PASSU with the
obligations of the Guarantor under this Guarantee Agreement.

     (b) Nothing herein shall be deemed to subordinate obligations owing to the
Guarantee Trustee pursuant to Section 3.3. The person service as Guarantee
Trustee, acting in its individual capacity, shall be entitled to its rights
under Section 3.3 to the same extent as any other holder of Senior Debt.

                                  ARTICLE VII

                                   TERMINATION

     SECTION 7.1. TERMINATION.

     This Guarantee Agreement shall terminate and be of no further force and
effect upon (i) full payment of the Redemption Price (as defined in the Trust
Agreement) of all

                                      -15-

<PAGE>

Trust Preferred Securities, (ii) the distribution of Debentures to the Holders
in exchange for all of the Trust Preferred Securities or (iii) full payment of
the amounts payable in accordance with Article IX of the Trust Agreement upon
liquidation of the Issuer Trust. Notwithstanding the foregoing, this Guarantee
Agreement will continue to be effective or will be reinstated, as the case may
be, if at any time any Holder is required to repay any sums paid with respect to
the Trust Preferred Securities or this Guarantee Agreement.

                                  ARTICLE VIII

                                  MISCELLANEOUS

     SECTION 8.1. SUCCESSORS AND ASSIGNS.

     All guarantees and agreements contained in this Guarantee Agreement shall
bind the successors, assigns, receivers, trustees and representatives of the
Guarantor and shall inure to the benefit of the Holders of the Trust Preferred
Securities then outstanding. Except in connection with a consolidation, merger
or sale involving the Guarantor that is permitted under Article VIII of the
Indenture and pursuant to which the successor or assignee agrees in writing to
perform the Guarantor's obligations hereunder, the Guarantor shall not assign
its obligations hereunder, and any purported assignment other than in accordance
with this provision shall be void.

     SECTION 8.2. AMENDMENTS.

     Except with respect to any changes that do not adversely affect the rights
of the Holders in any material respect (in which case no consent of the Holders
will be required), this Guarantee Agreement may only be amended with the prior
approval of the Holders of not less than a Majority in Liquidation Amount of the
Trust Preferred Securities. The provisions of Article VI of the Trust Agreement
concerning meetings of the Holders shall apply to the giving of such approval.

     SECTION 8.3. NOTICES.

     Any notice, request or other communication required or permitted to be
given hereunder shall be in writing, duly signed by the party giving such
notice, and delivered, telecopied or mailed by first class mail as follows:

                                      -16-

<PAGE>

     (a) if given to the Guarantor, to the address or telecopy number set forth
below or such other address or telecopy number as the Guarantor may give notice
to the Guarantee Trustee and the Holders:

                  Seacoast Financial Services Corporation
                  One Compass Place
                  New Bedford, Massachusetts  02740
                  Attention:  Treasurer
                  Facsimile:  (508) 994-4874

     (b) if given to the Guarantee Trustee, at the address or telecopy number
set forth below or such other address or telecopy number as the Guarantee
Trustee may give notice to the Guarantor and Holders:

                  State Street Bank and Trust Company
                  2 Avenue de Lafayette
                  Boston, Massachusetts 02111-1724
                  Attention:  Corporate Trust Department
                              (Seacoast Capital Trust I)

         with a copy to:

                  Seacoast Capital Trust I
                  c/o Seacoast Financial Services Corporation
                  One Compass Place
                  New Bedford, Massachusetts  02740
                  Attention:  Treasurer
                  Telecopy:  (508) 994-4874

     (c) if given to any Holder, at the address set forth on the books and
records of the Issuer Trust.

     All notices hereunder shall be deemed to have been given when received in
person, telecopied with receipt confirmed, or mailed by first class mail,
postage prepaid.

     SECTION 8.4. BENEFIT.

     This Guarantee Agreement is solely for the benefit of the Holders and is
not separately transferable from the Trust Preferred Securities.

     SECTION 8.5. GOVERNING LAW.

     THIS GUARANTEE AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS.

     SECTION 8.6. COUNTERPARTS.

     This instrument may be executed in any number of counterparts, each of
which so executed shall be deemed to be an original, but all such counterparts
shall together constitute but one and the same instrument.

                                      -17-

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have executed this Guarantee
Agreement as of the day and year first above written.

                                    SEACOAST FINANCIAL SERVICES CORPORATION

                                    By: /s/ Kevin G. Champagne
                                        --------------------------------------
                                        Name:
                                        Title:

                                    STATE STREET BANK AND TRUST COMPANY,
                                        as Guarantee Trustee

                                    By: /s/ Earl W. Dennison, Jr.
                                        --------------------------------------
                                        Name:  Earl W. Dennison, Jr.
                                        Title: Vice President

                                      -18-QuickLinks
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Exhibit 10.1    
  

LEASE TERMINATION AGREEMENT  

        THIS LEASE TERMINATION AGREEMENT ("Termination Agreement") is made as of the 22nd day of May, 2002 by and between  EOP-150 CALIFORNIA STREET, L.L.C., a Delaware limited liability company ("Landlord") and TENFOLD CORPORATION, a
Delaware corporation ("Tenant"). 

RECITALS:  

	A.
	Landlord
and Tenant are parties to that certain lease dated as of March 3, 2000, which lease has been previously amended by First Amendment dated June 15, 2001 and
Commencement Letters dated October 16, 2000, October 16, 2000 and October 24, 2000 (collectively, the "Lease") relating to approximately  77,430 rentable square feet, known as
Suite Nos. 200, 300, 400, 500, 600, 700 and 800 (the "Premises") located on the 2nd,
3rd, 4th, 5th, 6th, 7th and 8th floors of the building commonly known as 150 California Street, located at 150
California Street, San Francisco, California (the "Building"), all as more particularly described in the Lease.

	B.
	Pursuant
to that certain sublease agreement dated as of August 18, 2000 ("Yalta Sublease"), by and between Tenant, as sublessor thereunder and Yalta Communications, Inc.,
a Delaware corporation ("Yalta"), as sublessee, Tenant subleased to Yalta approximately 14,105 rentable square feet known as Suite No. 300 on the 3rd floor of the Building
for a term that expired, pursuant to the Yalta Sublease, on August 31, 2001, which Yalta Sublease was consented to by Landlord pursuant to that certain Landlord Consent to Sublease dated
August 18, 2000 by and among Landlord, Tenant and Yalta (the "Landlord Consent to Yalta Sublease").

	C.
	Pursuant
to that certain sublease agreement dated as of May, 2000 ("Criticalarc Sublease"), by and between Tenant, as sublessor thereunder and Criticalarc Technologies Inc., a
California corporation (as successor in interest to Restaurantpro.com, Inc., a California corporation) ("Criticalarc"), as sublessee, Tenant previously subleased to Criticalarc approximately
28,249 rentable square feet known as Suite Nos. 200 and 400 on the 2nd and 4th floors of the Building for a term scheduled to expire, pursuant to the Criticalarc
Sublease, on August 31, 2002, which Criticalarc Sublease was consented to by Landlord pursuant to that certain Landlord Consent to Sublease dated as of September 20, 2000 by and among
Landlord, Tenant and Criticalarc (the "Landlord Consent to Criticalarc Sublease").

	D.
	Pursuant
to that certain sublease agreement dated as of August 24, 2001 ("Cannell Sublease"), by and between Tenant, as sublessor thereunder and Cannell Capital LLC, a
California limited liability company ("Cannell"), as sublessee, Tenant previously leased to Cannell approximately 5,442 rentable square feet known as a portion of Suite No. 500 on the
5th floor of the Building for a term scheduled to expire, pursuant to the Cannell Sublease, on August 31, 2006, which Cannell Sublease was consented to by Landlord pursuant to
that certain Landlord Consent to Sublease dated as of September 7, 2001 by and among Landlord, Tenant and Cannell (the "Landlord Consent to Cannell Sublease").

	E.
	Pursuant
to that certain sublease agreement dated as of January, 2002, as amended by Amendment No. 1 to Sublease dated April 1, 2002 (collectively, "Allstate Sublease"),
by and between Tenant, as sublessor thereunder and Allstate Insurance Company, an Illinois corporation ("Allstate"), as sublessee, Tenant subleased to Allstate approximately 9,829 rentable square feet
known as Suite 800 on the 8th floor of the Building for a term scheduled to continue, pursuant to the Allstate Sublease, on a month-to-month basis, which
Allstate Sublease was consented to by Landlord pursuant to that certain Landlord Consent to Sublease dated March 19, 2002 and 

1

 

Landlord
Consent to Amendment No. 1 to Sublease dated May 22, 2002 by and among Landlord, Tenant and Allstate (collectively, the "Landlord Consent to Allstate Sublease"). 

	F.
	Pursuant
to that certain sub-sublease agreement dated as of September, 2001 ("Celerity Sub-Sublease"), by and between Criticalarc, as sublandlord, and Celerity
Consulting Group, Inc., a Delaware corporation, as subtenant ("Celerity"), Criticalarc sub-subleased to Celerity approximately 14,154 rentable square feet known as
Suite No. 400 on the 4th floor of the Building for a term scheduled to expire, pursuant to the Celerity Sub-Sublease, on August 31, 2002, which Celerity
Sub-Sublease was consented to by Landlord pursuant to that certain Landlord Consent to Sub-Sublease dated as of December 18, 2001 by and among Landlord, Tenant,
Criticalarc and Celerity (the "Landlord Consent to Celerity Sub-Sublease").

	G.
	Pursuant
to that certain sublease agreement dated as of October, 2001 ("Celerity Sublease"), by and between Tenant, as sublessor thereunder and Celerity, as sublessee, Tenant agreed to
sublease to Celerity approximately 14,154 rentable square feet known as Suite No. 400 on the 4th floor of the Building for a term scheduled to commence on
September 1, 2002 and schedule to expire on August 31, 2004, which Celerity Sublease was consented to by Landlord pursuant to that certain Landlord Consent to Sublease dated as of
December 18, 2001 by and among Landlord, Tenant and Celerity (the "Landlord
Consent to Celerity Sublease"). The Yalta Sublease, the Critcalarc Sublease, the Cannell Sublease, the Allstate Sublease, the Celerity Sub-Sublease are collectively referred to herein as
the "Subleases".

	H.
	Contemporaneous
with the execution of this Termination Agreement, Tenant and Celerity shall enter into a sublease termination agreement (the "Celerity Termination Agreement"), pursuant
to which Tenant and Celerity shall agree that the Celerity Sublease is completely terminated and of no further force and effect as of the date of this Termination Agreement and that neither Tenant nor
Celerity shall have any further rights, interests, duties or obligations thereunder.

	I.
	Contemporaneous
with the execution of this Termination Agreement and the Celerity Termination Agreement, Landlord and Celerity shall enter into an office lease agreement pursuant to
which Landlord will lease to Celerity, and Celerity will lease from Landlord approximately 20,420 rentable square feet consisting of (i) 14,154 rentable square feet known as
Suite No. 400 on the 4th floor and (ii) 6,266 rentable square feet known as Suite No. 600 on the 6th floor of the Building for a term
scheduled to commence on or about September 1, 2002.

	J.
	The
Term of the Lease is scheduled to expire on August 13, 2008 (the "Stated Termination Date"), and Tenant desires to terminate the Lease prior to the Stated Termination Date.
Landlord has agreed to such termination on the terms and conditions contained in this Termination Agreement.

	K.
	Contemporaneous
with the execution of this Termination Agreement, Landlord and Tenant shall enter into a new office lease agreement substantially in the form attached hereto as
Exhibit "A" (the "New Lease"), pursuant to which Landlord will lease to Tenant, and Tenant will lease from Landlord, approximately 9,819 rentable square feet, known as
Suite No. 700 located on the 7th floor of the Building, at the annual base rent rate of $36.00 per rentable square foot for a term commencing on April 1, 2002 and
expiring on March 31, 2002, which New Lease shall contain a provision that Landlord and Tenant may terminate the New Lease with 30 days prior written notice, all as more particularly
described in the New Lease. 

        NOW, THEREFORE, in consideration of the above recitals which by this reference are incorporated herein, the mutual covenants and
conditions contained herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree as follows: 

	1.
	Effective
as of April 1, 2002 (the "Early Termination Date") and subject to the agreements, representations, warranties and indemnities contained in this Termination Agreement,
including, 

2

 

without
limitation, payment of the Termination Fee and the Transfer Amounts described in Section 6 below, the Lease is terminated and the Term of the Lease shall expire with the same force and
effect as if the Term was, by the provisions thereof, fixed to expire on the Early Termination Date. 

	2.
	Effective
as of the Early Termination Date, Tenant hereby remises, releases, quitclaims and surrenders to Landlord, its successors and assigns, the Lease and all of the estate and
rights of Tenant in and to the Lease, the Premises and the proceeds of the (i) Criticalarc Security Deposit (defined in Section 6 below), (ii) Cannell Security Deposit (defined in
Section 6 below), and (iii) Criticalarc Prepaid Rent (defined in Section 6 below), and Tenant forever releases and discharges Landlord from any and all claims, demands or causes
of action whatsoever against Landlord or its successors and assigns arising out of or in connection with the Premises or the Lease and forever releases and discharges Landlord from any obligations to
be observed or performed by Landlord under the Lease after the Early Termination Date. Further, except with respect to the Celerity Sublease which Tenant shall terminate as provided in
Section 8 below, effective as of the date of this Termination Agreement, Tenant hereby assigns to Landlord all of Tenant's rights, title, interest and obligations (which obligations arise after
the Early Termination Date), in and to the Subleases including without limitation, all rights of Tenant to receive any payments and all of Tenant's obligations arising from and after the Early
Termination Date pursuant to the Subleases. Landlord hereby accepts the foregoing assignment and agrees to assume all of Tenant's rights, title, interest in and to the Subleases, as well as Tenant's
obligations under the Sublease which arise in connection with the period after the Early Termination Date. Notwithstanding the foregoing, Landlord and Tenant acknowledge and agree that the execution
date of this Termination Agreement is after the Early Termination Date. Accordingly, Tenant agrees to indemnify and hold harmless Landlord, its members, principals, beneficiaries, partners, officers,
directors, employees, mortgagee(s) and agents, and the respective principals and members of any such agents (collectively, the "Landlord Related Parties") from all liabilities, expenses, claims,
demands, judgments, damages or costs arising from the Premises, including without limitation, attorneys' fees which may be imposed upon, incurred by or asserted against Landlord or any of the Landlord
Related Parties arising from, out of or in connection with any damage or injury occurring in the Premises or any acts or omissions (including violations of Laws) or any breach by Tenant as
"sublandlord" or "sub-sublandlord" under any of the Subleases arising from or relating to the period from the Early Termination Date through the date of this Termination Agreement.

	3.
	Subject
to the agreements, representations, warranties and indemnities contained in this Termination Agreement, Landlord agrees to accept the surrender of the Lease and the Premises
from and after the Early Termination Date and, effective as of the Early Termination Date, forever releases and discharges Tenant from any obligations to be observed and performed by Tenant under the
Lease, whether known or unknown, after the Early Termination Date (except with respect to any obligations of Tenant or any Tenant Related Party which obligations expressly survive expiration of the
Lease, as amended hereby), provided that Tenant has satisfied, performed and fulfilled all of the agreements set forth in this Termination Agreement, and each of the representations and warranties set
forth in Section 5 and 8 below are true and correct. For avoidance of doubt and subject to Section 6 of this Termination Agreement, Landlord completely and unconditionally releases and
discharges Tenant from any obligations to be observed and performed by Tenant under Article IV of the Lease and Article XII.C of the Lease after the Early Termination Date.

	4.
	On
or prior to the Early Termination Date, Tenant shall fulfill all covenants and obligations of Tenant under the Lease applicable to the period prior to and including the Early
Termination Date. However, notwithstanding the foregoing, the parties acknowledge and agree that Criticalarc, 

3

 

Cannell, Allstate and Celerity are in possession of their respective subleased portions of the Premises pursuant to the terms of their respective subleases and sub-sublease and Landlord
intends to require Criticalarc, Cannell and Allstate to attorn to Landlord under the terms of their respective subleases as described in their respective Landlord Consent to Sublease. Consequently, it
is not necessary for Tenant to obtain possession of the Premises from Criticalarc, Cannell, Allstate and Celerity and deliver same to Landlord in connection with the early termination of the Lease, as
described herein. Notwithstanding anything to the contrary contained herein and effective as of the Early Termination Date, Tenant hereby assigns all of Tenant's right, title and interest in and to
the Criticalarc Sublease, Cannell Sublease and Allstate Sublease as "Sublessor" therein to Landlord. Further, upon execution of this Termination Agreement, Tenant hereby agrees to endorse and present
to Landlord any proceeds received through the date of this Termination Agreement relating to the period from and after the Early Termination Date for the Criticalarc Sublease, Cannell Sublease,
Allstate Sublease, and Celerity Sublease to Landlord. Landlord hereby accepts the foregoing assignment and agrees to assume all of Tenant's rights, title and interest in and to the Subleases, and all
of Tenant's obligations under the Subleases which arise in connection with the period after the Early Termination Date as the "Sublessor" therein. Landlord agrees to apply any proceeds received from
Tenant through the date of this Termination Agreement relating to the period from and after the Termination Date for the Celerity Sublease to the rent under the office lease between Landlord and
Celerity referenced in Recital I above. Tenant agrees to indemnify and hold harmless Landlord and Landlord Related Parties from all liabilities, expenses, claims, demands, judgments, damages or costs
arising from the Premises, including without limitation, attorneys' fees which may be imposed upon, incurred by or asserted against Landlord or any of the Landlord Related Parties arising from, out of
or in connection with any damage or injury occurring in the Premises or any acts or omissions (including violations of Laws) or any breach by Tenant as "sublandlord" or "sub-sublandlord"
under any of the Subleases arising from or relating to the period from the Early Termination Date through the date of this Termination Agreement. 

	5.
	Tenant
represents and warrants that (a) Tenant is the rightful owner of all of the Tenant's interest in the Lease; (b) Tenant has not made any disposition, assignment,
sublease, or conveyance of the Lease or Tenant's interest therein (other than as described in the Criticalarc Sublease, Cannell Sublease, Allstate Sublease, Celerity Sub-Sublease and
Celerity Sublease); (c) Tenant has no knowledge of any fact or circumstance which would give rise to any claim, demand, obligation, liability, action or cause of action arising out of or in
connection with Tenant's occupancy of the Premises; (d) no other person or entity has an interest in the Lease, collateral or otherwise other than as described in the Criticalarc Sublease,
Cannell Sublease, Allstate Sublease, Celerity Sub-Sublease and Celerity Sublease; and (e) there are no outstanding contracts for the supply of labor or material and no work has been
done or is being done in, to or about the Premises which has not been fully paid for and for which appropriate waivers of mechanic's liens have not been obtained. The foregoing representation and
warranty shall be deemed to be remade by Tenant in full as of the Early Termination Date.

	6.
	As
consideration for the release of Tenant's obligations under the Lease as provided herein, Tenant shall pay to Landlord the sum of $2,541,657.50 (the "Termination Fee"). In addition,
Tenant shall also pay to Landlord a total of $863,342.50 (the "Transfer Amounts") consisting of (a) a transfer to Landlord by Tenant of the $141,245.00 security deposit which was given by
Criticalarc to Tenant pursuant to the terms of the Criticalarc Sublease ("Criticalarc Security Deposit"), (b) a transfer to Landlord by Tenant of the remaining $706,225.00 in prepaid rent which
was given by Criticalarc to Tenant pursuant to the terms of the Criticalarc Sublease ("Criticalarc Prepaid Rent"), and (c) a transfer to Landlord by Tenant of the $15,872.50 security deposit
which was given by Cannell to Tenant pursuant to the Cannell Sublease ("Cannell Security Deposit"). Effective as of the Early Termination Date, Tenant hereby assigns, quitclaims and surrenders to
Landlord, its successors and 

4

 

assigns,
all of Tenant's right, title and interest in and to the Criticalarc Security Deposit, the Criticalarc Prepaid Rent and the Cannell Security Deposit. Landlord currently is holding the sum of
$3,000,000.00 as the security deposit from Tenant in the form of a letter of credit (the "Letter of Credit") of which Landlord is the beneficiary pursuant to the terms of Section VI of the
Lease. Landlord and Tenant acknowledge and agree that simultaneously with the full and proper execution of this Termination Agreement by Landlord and Tenant, (a) Landlord shall seek to draw on
the full amount of the Letter of Credit (i.e. $3,000,000.00) and $2,541,657.50 of the Letter of Credit shall be applied to the Termination Fee and $458,342.50 of the Letter of Credit shall be applied
to the Transfer Amounts required hereunder; (b) Tenant shall release any and all claims to the Security Deposit held pursuant to the Lease; and (c) Tenant shall pay to Landlord, by
cashier's or certified check or by wire transfer of immediately available funds to an account designated by Landlord, $250,000.00 which will be applied to the Transfer Amounts. Notwithstanding
anything in the Lease or this Termination Agreement to the contrary, Tenant has no further obligation to replenish the Letter of Credit to the full amount thereof. Upon Landlord's receipt of the full
amount of the Letter of Credit (i.e. $3,000,000.00) from Zions Bank, Landlord shall release any and all claims to the Security Deposit held pursuant to the Lease and release and discharge Tenant from
any and all obligations arising in connection with the Security Deposit; provided that such release and discharge by Landlord shall not apply or be in effect in the event Landlord's right to fully
retain and use the full amount of the Letter of Credit (i.e. $3,000,000.00) is challenged, revoked or otherwise affected as a result of any insolvency or bankruptcy proceeding. In addition, Tenant
shall pay to Landlord by cashier's or certified check or by wire transfer of immediately available funds to an account designated by Landlord, (i) $77,500.00 on or prior to July 1, 2002,
and (ii) $77,500.00 on or prior to August 1, 2002, which amounts shall be applied to the remaining Transfer Amounts payable by Tenant hereunder. 

Tenant
hereby acknowledges and agrees that notwithstanding anything in the Lease to the contrary, Landlord has the full right, power and authority to draw on and retain the full amount of the Letter
of Credit. Tenant shall diligently cooperate with Landlord to facilitate Landlord's draw on the full amount of the Letter of Credit. Such cooperation may include, but not be limited to, the obligation
to execute such documents as may be required to permit Landlord to draw on the Letter of Credit as provided herein. Notwithstanding anything to the contrary contained in the Lease or this Termination
Agreement with respect to Landlord's right to apply the Security Deposit and/or draw on the Letter of Credit, Tenant agrees that in the event the bank which has issued the Letter of Credit refuses to
accept Landlord's draw request or such draw request is not processed or approved for any reason, or in the event the Tenant fails to pay Landlord any of the other amounts payable pursuant to this
Termination Agreement when due, then at Landlord's sole option, this Termination Agreement shall be null and void and of no force and effect and the Term of the Lease shall be as stated in the Lease,
without giving effect to this Termination Agreement. 

Notwithstanding
anything in this Termination Agreement to the contrary, including but not limited to the provisions of Section 3 of this Termination Agreement, Tenant shall remain liable for
all year-end adjustments with respect to Tenant's Pro-Rata Share of Taxes and Expenses for that portion of the calendar year up to and including the Early Termination Date.
Such adjustments shall be paid at the time, in the manner and otherwise in accordance with the terms of the Lease, unless otherwise specified herein. 

	7.
	Section XIV
of the Lease (Indemnity and Waiver of Claims) shall survive the termination of the Lease pursuant to this Agreement. In addition, Tenant's obligations pursuant to
Section 6 of this Termination Agreement and Tenant's indemnity obligations pursuant to Sections 2 and 4 of this Termination Agreement shall also survive the termination of the Lease.

	8.
	This
Termination Agreement is specifically contingent upon (i) Landlord's receipt of estoppel certificates from each of Criticalarc, Cannell, Allstate, and Celerity in form and
substance 

5

 

satisfactory
to Landlord relating to the current status of their respective subleases and sub-sublease (as the case may be) and (ii) Landlord's receipt of the Celerity Termination
Agreement. If Landlord has not received all required estoppel certificates or the Celerity Termination Agreement on or before the date of this Termination Agreement, then this Termination Agreement
shall, at Landlord's option, be null and void and of no further force and effect, and the Lease shall continue as if this Termination Agreement had never been entered into by Landlord and Tenant. 

	9.
	Each
signatory of this Termination Agreement represents hereby that he or she has the authority to execute and deliver the same on behalf of the party hereto for which such signatory
is acting.

	10.
	This
Termination Agreement shall be binding upon and inure to the benefit of Landlord and Tenant and their respective successors, assigns and related entities. 

        IN WITNESS WHEREOF, Landlord and Tenant have executed this Termination Agreement on the day and year first above written. 

	

 	
 	
LANDLORD:	
 	

 
	

 	
 	
EOP-150 CALIFORNIA STREET, L.L.C., a Delaware limited liability company
	

 	
 	

By:	
 	

EOP Operating Limited Partnership, a Delaware limited partnership, its sole member
	

 	
 	

 	
 	

By:	
 	

Equity Office Properties Trust, a Maryland real estate investment trust, its general partner
	

 	
 	

 	
 	

 	
 	

By:	
 	

	 	 	 	 	 	 	Name:	 	

	 	 	 	 	 	 	Title:	 	

	

 	
 	
TENANT:
	

 	
 	
TENFOLD CORPORATION, a Delaware corporation
	

 	
 	

By:	
 	

	 	 	Name:	 	

	 	 	Title:	 	

6

   EXHIBIT A  

 FORM OF NEW LEASE  

1

QuickLinks

Exhibit 10.1

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