Document:

TO:    Brett Keller

DATE:  December 1, 2001

FROM:  Jeff Boyd

Congratulations on your promotion to Senior Vice President - Chief Marketing
Officer, effective January 2, 2002. As Senior Vice President - Chief Marketing
Officer, you will report to the President and Chief Operating Officer. As a
result of your promotion we are pleased to increase your base salary to $200,000
and issue a stock option grant in the amount of 200,000 shares.

Your strike price will be $4.20, based on the NASDAQ close on November 30, 2001,
(grant date will be December 1, 2001). You will vest one-third of your options
on December 1, 2002, and the balance monthly thereafter over 24 (twenty-four)
months for a total three-year vesting schedule. Stock option grants will be
posted on our plan administrator's (AST) web site within 60 days of the grant
award.

In addition, upon the occurrence of a Change in Control (as such term is defined
in the 1999 Omnibus Plan), your options will become fully exercisable and vested
on the date that is six (6) months from the date of the Change in Control;
PROVIDED that you are (a) employed by the Company on the date of the Change in
Control and (b) employed by the Company on the date that is six (6) months from
the date of the Change in Control. In the event that you are terminated by the
Company without Cause (a) in anticipation of a Change in Control, or (b) within
six (6) months following a Change in Control, your options will become fully
exercisable and vested and will remain exercisable until the date that is six
(6) months after such termination, on which date they shall expire.

We ask that you keep this award confidential since it is part of your total
compensation and unique to you.

Please be aware that this is an additional grant and does not affect any option
grants that you received earlier or the vesting schedule for those shares. Also
the foregoing vesting schedule, including the accelerated vesting in the event
of a Change in Control, is different from the vesting schedule provided for in
the 1999 Omnibus Plan and, as a result, is subject to the approval of the
Compensation Committee.

In addition, the company will provide for severance protection in the event of
termination without cause or for good reason as follows:

      If (i) you terminate your employment with the priceline.com Incorporated
(the "Company") for Good Reason or (ii) your employment with the Company is
terminated by the Company without Cause, you shall be entitled to receive, (A)
over a period of twelve (12) months after such

<Page>

termination an amount equal to one (1) times the sum of your Base Salary and
target bonus (excluding any retention related incentive), if any, for the year
in which such termination occurs (PROVIDED, HOWEVER, in the event that the Base
Salary or target bonus, if any, has been decreased in the twelve (12) months
prior to the termination, the amount to be used shall be the highest Base Salary
and target bonus (excluding any retention related incentive), if any, during
such twelve (12) month period); (B) any Accrued Amounts (as defined below) at
the date of termination; (C) any other amounts or benefits owing to you under
the then applicable employee benefit, long term incentive or equity plans and
programs of the Company, which shall be paid or treated in accordance with the
terms of such plans and programs; (D) continuation of the benefits (including
without limitation to health, life, disability and pension) for twelve (12)
months after employment is terminated as if you were an employee of the Company
for twelve (12) months, and (E) if a bonus plan is in place, the product of (x)
the target annual bonus for the fiscal year of your termination, multiplied by
(y) a fraction, the numerator of which is the number of days of the current
fiscal year during which you were employed by the Company, and the denominator
of which is 365, which bonus shall be paid when bonuses for such period are paid
to the other executives.

      A termination for Good Reason means a termination by you by written notice
given within ninety (90) days after the occurrence of the Good Reason event,
unless such circumstances are fully corrected prior to the date of termination
specified in the Notice of Termination for Good Reason (as defined below).

      A "NOTICE OF TERMINATION FOR GOOD REASON" shall mean a notice that shall
indicate the specific termination provision specified in the definition of Good
Reason below relied upon and shall set forth in reasonable detail the facts and
circumstances claimed to provide a basis for termination for Good Reason. Your
failure to set forth in the Notice of Termination for Good Reason any facts or
circumstances which contribute to the showing of Good Reason shall not waive any
of your rights hereunder or preclude you from asserting such fact or
circumstance in enforcing your rights hereunder. The Notice of Termination for
Good Reason shall provide for a date of termination not less than ten (10) nor
more than sixty (60) days after the date such Notice of Termination for Good
Reason is given.

      "ACCRUED AMOUNTS" shall mean any compensation earned but not yet paid,
including and without limitation, any bonus if declared or earned but not yet
paid for a completed fiscal year, any amount of Base Salary earned but unpaid,
any accrued vacation pay payable pursuant to the Company's policies, and any
unreimbursed business expenses.

      "CAUSE," as used in this Agreement, shall be limited to (i) willful
misconduct by you with regard to the Company which has a material adverse effect
on the Company; (ii) your willful refusal to attempt to follow the proper
written direction of the Board of Directors, the Chief Executive Officer, or the
Chief Operating Officer of the Company, provided that the foregoing refusal
shall not be "Cause" if you in good faith believe that such direction is
illegal, unethical or immoral and promptly so notify the Board, the Chief
Executive Officer, or the Chief Operating Officer of the Company (whichever is
applicable); (iii) substantial and continuing willful refusal by you to attempt
to perform the duties required of you hereunder (other than any such failure
resulting from incapacity due to physical or mental illness) after a written
demand for substantial performance is delivered to you by the Board, Chief
Executive Officer, or the Chief Operating Officer of the Company which
specifically identifies the manner in which it is believed that you have
substantially and continually refused to attempt to perform your duties
hereunder; or (iv) your being convicted of a felony (other than a felony
involving a traffic violation or as a result of vicarious liability). For
<Page>

purposes of this paragraph, no act, or failure to act, on your part shall be
considered "willful" unless done or omitted to be done, by you not in good faith
and without reasonable belief that your action or omission was in the best
interests of the Company.

      "GOOD REASON," as used in this Agreement, shall mean the occurrence or
failure to cause the occurrence, as the case may be, without your express
written consent, of any of the following circumstances: (i) material demotion
(except in connection with the termination of your employment for Cause or as a
result of your death, or temporarily as a result of your illness or other
absence), (ii) a relocation of the Company's executive office in Connecticut to
a location more than thirty-five (35) miles from its current location or more
than thirty-five (35) miles further from your residence at the time of
relocation; (iii) any material breach by the Company of any provision of this
Agreement; or (iv) failure of any successor to the Company (whether direct or
indirect and whether by merger, acquisition, consolidation or otherwise) to
assume in a writing delivered to you upon the assignee becoming such, the
obligations of the Company hereunder.

Once again, congratulations on your new role. I am confident that this will be a
challenging and rewarding opportunity for you.

Warm regards,

/s/ Jeff Boyd
Jeff BoydFRANKLIN STREET PROPERTIES CORP.

                            2002 STOCK INCENTIVE PLAN

1.    Purpose

      The purpose of this 2002 Stock Incentive Plan (the "Plan") of Franklin
Street Properties Corp., a Maryland corporation (the "Company"), is to advance
the interests of the Company's stockholders by enhancing the Company's ability
to attract, retain and motivate persons who make (or are expected to make)
important contributions to the Company by providing such persons with equity
ownership opportunities and performance-based incentives and thereby better
aligning the interests of such persons with those of the Company's stockholders.
Except where the context otherwise requires, the term "Company" shall include
any of the Company's present or future parent or subsidiary corporations as
defined in Sections 424(e) or (f) of the Internal Revenue Code of 1986, as
amended, and any regulations promulgated thereunder (the "Code") and any other
business venture (including, without limitation, joint ventures, limited
partnerships or limited liability companies) in which the Company has a
controlling interest, as determined by the Board of Directors of the Company
(the "Board").

2.    Eligibility

      All of the Company's employees, officers, directors, consultants and
advisors are eligible to be granted awards (each, an "Award") consisting of
shares of common stock, $.0001 par value per share of the Company (the "Common
Stock"), under the Plan. Each person who has been granted an Award under the
Plan shall be deemed a "Participant".

3.    Administration and Delegation

      (a) Administration by Board of Directors. The Plan will be administered by
the Board. The Board shall have authority to grant Awards and to adopt, amend
and repeal such administrative rules, guidelines and practices relating to the
Plan as it shall deem advisable. The Board may correct any defect, supply any
omission or reconcile any inconsistency in the Plan or any Award in the manner
and to the extent it shall deem expedient to carry the Plan into effect and it
shall be the sole and final judge of such expediency. All decisions by the Board
shall be made in the Board's sole discretion and shall be final and binding on
all persons having or claiming any interest in the Plan or in any Award. No
director or person acting pursuant to the authority delegated by the Board shall
be liable for any action or determination relating to or under the Plan made in
good faith.

      (b) Appointment of Committees. To the extent permitted by applicable law,
the Board may delegate any or all of its powers under the Plan to one or more
committees or subcommittees of the Board (a "Committee"). All references in the
Plan to the "Board" shall mean the Board or a Committee of the Board to the
extent that the Board's powers or authority under the Plan have been delegated
to such Committee.

<PAGE>

4.    Stock Available for Awards

      Subject to adjustment under Section 6, Awards may be made under the Plan
for up to 2,000,000 shares of Common Stock. The maximum number of shares of
Common Stock with respect to which Awards may be granted to any Participant
under the Plan during any calendar year shall be the number of shares authorized
for issuance under the Plan pursuant to this Section 4. Shares issued under the
Plan may consist in whole or in part of authorized but unissued shares or
treasury shares.

5.    Terms and Conditions of Awards

      The Board shall determine the terms and conditions of any Awards at the
time of grant, including the issue price, if any.

6.    Adjustments for Changes in Capitalization

      In the event of any stock split, reverse stock split, stock dividend,
recapitalization, combination of shares, reclassification of shares, spin-off or
other similar change in capitalization or event, or any distribution to holders
of Common Stock other than a normal cash dividend, the number and class of
securities available under this Plan shall be appropriately adjusted by the
Company to the extent the Board shall determine, in good faith, that such an
adjustment is necessary and appropriate.

7.    General Provisions Applicable to Awards

      (a) Documentation. Each Award shall be evidenced in such form (written,
electronic or otherwise) as the Board shall determine. Each Award may contain
terms and conditions in addition to those set forth in the Plan.

      (b) Board Discretion. Except as otherwise provided by the Plan, each Award
may be made alone or in addition or in relation to any other Award. The terms of
each Award need not be identical, and the Board need not treat Participants
uniformly.

      (c) Withholding. Each Participant shall pay to the Company, or make
provision satisfactory to the Board for payment of, any taxes required by law to
be withheld in connection with Awards to such Participant no later than the date
of the event creating the tax liability. Except as the Board may otherwise
provide in an Award, when the Common Stock is registered under the Securities
Exchange Act of 1934, as amended, Participants may satisfy such tax obligations
in whole or in part by delivery of shares of Common Stock, including shares
retained from the Award creating the tax obligation, valued at their fair market
value as determined by (or in a manner approved by) the Board in good faith;
provided, however, that the total tax withholding where stock is being used to
satisfy such tax obligations cannot exceed the Company's minimum statutory
withholding obligations (based on minimum statutory withholding rates for
federal and state tax purposes, including payroll taxes, that are applicable to
such supplemental taxable income). The Company may, to the extent permitted by
law, deduct any such tax obligations from any payment of any kind otherwise due
to a Participant.

                                       -2-
<PAGE>

      (d) Conditions on Delivery of Stock. The Company will not be obligated to
deliver any shares of Common Stock pursuant to the Plan until (i) all conditions
of the Award have been met or removed to the satisfaction of the Company, (ii)
in the opinion of the Company's counsel, all other legal matters in connection
with the issuance and delivery of such shares have been satisfied, including any
applicable securities laws and any applicable stock exchange or stock market
rules and regulations, and (iii) the Participant has executed and delivered to
the Company such representations or agreements as the Company may consider
appropriate to satisfy the requirements of any applicable laws, rules or
regulations.

8.    Miscellaneous

      (a) No Right To Employment or Other Status. No person shall have any claim
or right to be granted an Award, and the grant of an Award shall not be
construed as giving a Participant the right to continued employment or any other
relationship with the Company. The Company expressly reserves the right at any
time to dismiss or otherwise terminate its relationship with a Participant free
from any liability or claim under the Plan, except as expressly provided in the
applicable Award.

      (b) No Rights As Stockholder. Subject to the provisions of the applicable
Award, no Participant shall have any rights as a stockholder with respect to any
shares of Common Stock to be distributed with respect to an Award until becoming
the record holder of such shares.

      (c) Effective Date and Term of Plan. The Plan shall become effective on
the date on which it is adopted by the Board.

      (d) Amendment of Plan. The Board may amend, suspend or terminate the Plan
or any portion thereof at any time.

      (e) Authorization of Sub-Plans. The Board may from time to time establish
one or more sub-plans under the Plan for purposes of satisfying applicable blue
sky, securities or tax laws of various jurisdictions. The Board shall establish
such sub-plans by adopting supplements to this Plan containing (i) such
limitations on the Board's discretion under the Plan as the Board deems
necessary or desirable or (ii) such additional terms and conditions not
otherwise inconsistent with the Plan as the Board shall deem necessary or
desirable. All supplements adopted by the Board shall be deemed to be part of
the Plan, but each supplement shall apply only to Participants within the
affected jurisdiction and the Company shall not be required to provide copies of
any supplement to Participants in any jurisdiction which is not the subject of
such supplement.

      (f) Governing Law. The provisions of the Plan and all Awards made
hereunder shall be governed by and interpreted in accordance with the laws of
the State of Maryland, without regard to any applicable conflicts of law.

                                        Adopted by the Board of Directors on
                                        February 8, 2002

                                        Adopted by the stockholders on
                                        __________, 2002

                                       -3-
<PAGE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}]]