Document:

<PAGE>

                           INVESTORS' RIGHTS AGREEMENT

         THIS INVESTORS' RIGHTS AGREEMENT (the "AGREEMENT") is made as of
January 9th, 2000, by and among Liquor.com, Inc., a Delaware corporation, (the
"COMPANY"), the holders of shares of the Company's Series A Preferred Stock (the
"PREFERRED HOLDERS" and each individually a "PREFERRED HOLDER"), and those other
stockholders of the Company listed on the signature pages hereto under the
caption "Stockholders" (the "STOCKHOLDERS" and each individually a
"STOCKHOLDER").

                                    RECITALS

         A. The Preferred Holders have entered into a Series A Preferred Stock
Purchase Agreement dated of even date herewith (the "Purchase Agreement"),
pursuant to which the Company shall sell and the Preferred Holders shall
purchase shares of the Company's Series A Preferred Stock (the "Preferred
Stock").

         B. The execution of this Agreement is a condition to the closing of the
transactions contemplated by the Purchase Agreement.

         C. In order to induce the Preferred Holders to enter into this
Agreement and the Purchase Agreement, the Stockholders and the Company desire to
grant to the Preferred Holders certain rights of first refusal and certain
rights of co-sale with respect to equity securities owned by each Stockholder
and any other equity securities of the Company hereafter owned or acquired by
each Stockholder and certain Registration Rights and Preemptive Rights.

         NOW, THEREFORE, in consideration of the mutual promises herein
contained, and other consideration, the receipt and adequacy of which hereby is
acknowledged, the parties hereto agree as follows:

1 . CERTAIN DEFINITIONS. For purposes of this Agreement, the following terms
have the following meanings:

         1.1 "AFFILIATE" OR "AFFILIATED ENTITY OR PERSON" means, as to any
specified Person any other Person that, directly or indirectly through one or
more intermediaries or otherwise, controls, is controlled by or is under common
control with the specified Person. As used in this definition, "control" means
the possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of a Person (whether through ownership
of capital stock of that Person, by contract or otherwise).

         1.2 "COMMON STOCK" means the Company's common stock, par value $.00001
per share.

                                       1
<PAGE>

         1.3 "DEMAND REGISTRABLE SECURITIES" shall mean (i) the shares of Common
Stock of the Company issuable or issued upon conversion of the Preferred Stock
of the Company, and (ii) any other shares of the Company's Common Stock issued
as (or issuable upon conversion or exercise of any warrant, right or other
security which is issued as) a dividend or other distribution with respect to or
exchange for or replacement of the Preferred Stock.

         1.4 "EXCHANGE ACT" shall mean the Securities Exchange Act of 1934, as
amended, and the rules and regulations of the SEC promulgated thereunder, all as
the same shall be in effect at that time.

         1.5 "QUALIFIED INITIAL PUBLIC OFFERING" means the Company's sale of its
Common Stock in a bona fide, firm commitment underwriting pursuant to a
registration statement under the Securities Act, the price to the public of
which is not less than $5.90 per share (appropriately adjusted for any
recapitalizations, stock combinations, stock dividends, stock splits and the
like) and for an aggregate gross offering price of at least $20,000,000.

         1.6 "INITIATING HOLDERS" means the Preferred Holders who are the
holders of at least 51% of the then outstanding Registrable Securities.

         1.7 "MAJOR SHAREHOLDER" means the individuals named from time to time
by the Board of Directors of the Company and listed in EXHIBIT A hereto.

         1.8 "OFFERED STOCK" means all Stock proposed to be transferred by the
Seller.

         1.9 "OFFERED PREFERRED STOCK" means all Preferred Stock proposed to be
offered by the Preferred Seller.

         1.10 "PREFERRED DIRECTOR" shall mean the director elected by the
holders of Preferred Stock pursuant to Section 4(b) of the Company's Certificate
of Incorporation.

         1.11 "PREFERRED HOLDER'S SHARE" means, as to the Right of Co-Sale, the
percentage determined by dividing (A) the number of shares of Stock held by the
Preferred Holder by (B) the number of shares of Stock held by the Seller and all
Preferred Holders participating in the Right of Co-Sale.

         1.12 "PREFERRED SELLER" means any Preferred Holder proposing to
transfer or sell Preferred Stock.

         1.13 The terms "REGISTER", "REGISTERED" and "REGISTRATION" refer to a
registration effected by preparing and filing a registration statement in
compliance with the Securities Act (as defined below), and the declaration or
ordering of the effectiveness of such registration statement.

                                        2
<PAGE>

         1.14 "REGISTRABLE SECURITIES" means Demand Registrable Securities,
excluding in all cases, however, any securities sold by a person in a
transaction in which a holder's registration rights under this Agreement are not
assigned; provided, however, that securities shall only be treated as
Registrable Securities if and for so long as, they have not been (A) sold to or
through a broker or dealer or underwriter in a public distribution or a public
securities transaction or (B) sold in a transaction exempt from the registration
and prospectus delivery requirements of the Securities Act under Section 4(l)
thereof so that all transfer restrictions and restrictive legends with respect
thereto are removed upon the consummation of such sale.

         1.15 "REGISTRATION EXPENSES" shall mean all expenses (excluding
underwriting discounts and selling commissions) incurred in connection with a
registration under Section 3 hereof, including, without limitation, all
registration and filing fees, printing expenses, fees and disbursements of
counsel for the Company, blue sky fees and expenses.

         1.16 "RIGHT OF CO-SALE" means the right of co-sale provided to the
Preferred Holders in Article 5 of this Agreement.

         1.17 "RIGHT OF FIRST REFUSAL" means the right of first refusal provided
to the Company and the Preferred Holders in Article 4 of this Agreement.

         1.18 "SEC" shall mean the Securities and Exchange Commission or any
other federal agency at the time administering the Securities Act.

         1.19 "SECURITIES ACT" shall mean the Securities Act of 1933, as
amended, and the rules and regulations of the SEC promulgated thereunder, all as
the same shall be in effect at the time.

         1.20 "SELLER" means any Stockholder proposing to transfer or sell
Stock, and expressly does not include a Preferred Seller.

         1.21 "STOCK" means and includes all securities and options issued by
the Company.

         1.22 "TRANSFER" means and includes any sale, assignment, encumbrance,
hypothecation, pledge, conveyance in trust, gift, transfer by bequest, devise or
descent, distribution by a corporation to its shareholders or other transfer or
disposition of any kind, including but not limited to transfers to receivers,
levying creditors, trustees or receivers in bankruptcy proceedings or general
assignees for the benefit of creditors, whether voluntary or by operation of
law, directly or indirectly, except:

                  1.22.1 any bona fide pledge if the pledgee executes a
counterpart copy of this Agreement and becomes bound thereby as a Stockholder;
or

                  1.22.2 any transfers of Stock by a Seller to the Seller's
spouse, lineal descendant or antecedent, father, mother, brother or sister of
the Seller, the adopted child or adopted

                                       3
<PAGE>

grandchild of the Seller, or the spouse of any child, adopted child, grandchild
or adopted grandchild of the Seller, or to a trust or trusts for the exclusive
benefit of the Seller or the Seller's family members as described in this
Section, or transfers of Stock by the Seller by devise or descent, or transfers
of Stock to a general or limited partner or other Affiliate of the Seller-,
provided, that, in all cases, the transferee or other recipient executes a
counterpart copy of this Agreement and becomes bound thereby as was the Seller.,

2. RESTRICTIVE LEGEND. Each certificate representing Stock shall (unless
otherwise permitted or unless the securities evidenced by such certificate
shall have been registered under the Securities Act) be stamped or otherwise
imprinted with a legend substantially in the following form (in addition to
any legend required under applicable state securities laws):

         THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR
         INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
         1933, AS AMENDED (THE "ACT"), OR ANY STATE SECURITIES LAWS. SUCH
         SHARES MAY NOT BE SOLD OR OFFERED FOR SALE IN THE ABSENCE OF SUCH
         REGISTRATION OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE
         COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED UNDER
         THE ACT. THE SHARES REPRESENTED BY THIS CERTIFICATE AND THE SALE,
         ASSIGNMENT, TRANSFER, PLEDGE OR OTHER DISPOSITION THEREOF ARE SUBJECT
         TO CERTAIN RESTRICTIONS AS SET FORTH IN AN INVESTORS' RIGHTS AGREEMENT
         DATED JANUARY _, 2000, ENTERED INTO BY THE HOLDER OF THESE SHARES, THE
         COMPANY AND THE STOCKHOLDERS OF THE COMPANY. A COPY OF SUCH AGREEMENT
         IS ON FILE AT THE PRINCIPAL OFFICE OF THE COMPANY AND WILL BE FURNISHED
         BY THE COMPANY TO THE HOLDER HEREOF WITHOUT CHARGE UPON THE WRITTEN
         REQUEST TO THE COMPANY.

                  Upon request of a holder of such a certificate, the Company
shall remove the foregoing legend from the certificate or issue to such holder a
new certificate therefor free of any transfer legend, if, with such request, the
Company shall have received either: (i) a written opinion of legal counsel to
the holder, which legal counsel shall be reasonably satisfactory to the Company,
addressed to the Company and reasonably satisfactory in form and substance to
the

                                        4
<PAGE>

Company's counsel, to the effect that the proposed transfer of the Restricted
Securities may be effected without registration under the Securities Act; or
(ii) a "no-action" letter from the SEC to the effect that the distribution of
such securities without registration will not result in a recommendation by the
staff of the SEC that action be taken with respect thereto, unless any such
transfer legend may be removed pursuant to Rule 144(k), in which case no such
legal opinion or "no-action" letter shall be required; and PROVIDED THAT the
Company shall not be obligated to remove any such legends prior to the date of
the initial public offering of the Company's Common Stock under the Securities
Act.

3. REGISTRATION RIGHTS

         3.1 COMPANY REGISTRATION.

                  3.1.1 If the Company shall determine to register any of its
securities either for its own account or for the account of a security holder or
holders exercising their respective demand registration fights, other than a
registration relating solely to employee benefit plans or a registration
relating solely to a transaction of the type specified in Rule 145 under the
Securities Act or a registration on any registration form which does not permit
secondary sales or does not include substantially the same information as would
be required to be included in a registration statement covering the sale of
Registrable Securities, the Company will:

                           3.1.1.1 promptly give to each holder of Registrable
Securities written notice thereof, and

                           3.1.1.2 include in such registration, and in any
underwriting involved therein, all of the Registrable Securities specified in a
written request or requests made by any holder of Registrable Securities within
ten days after receipt of the written notice from the Company described in
Section 3.1.1.1 above, except as set forth in Section 3.1.2 below. Such written
request may specify all or a part of a holder's Registrable Securities.

                  3.1.2 UNDERWRITING. If the registration of which the Company
gives notice is for a registered public offering involving an underwriting, the
Company shall so advise the holders of Registrable Securities AS A PART OF THE
WRITTEN NOTICE given pursuant to Section 3.1.1. In such event the right of any
holder of Registrable Securities subject to registration pursuant to this
Section 3.1 shall be conditioned upon such holder's participation in such
underwriting and the inclusion of such holder's Registrable Securities in the
underwriting to the extent provided herein. All holders of Registrable
Securities proposing to distribute their securities through such underwriting
shall (together with the Company and the other stockholders distributing their
securities through such underwriting) enter into an underwriting agreement in
customary form with a nationally recognized underwriter selected for
underwriting by the Company (the "Underwriter"). Notwithstanding any other
provision of this Section 3.1, if the Underwriter determines that marketing
factors require a limitation on the number of shares to be underwritten, the
Underwriter may (subject to the allocation priority set forth below) exclude

                                       5
<PAGE>

from such registration and underwriting any or all of the Registrable Securities
which would otherwise be underwritten pursuant hereto. The Company shall so
advise all holders of securities requesting registration, and the number of
shares of securities that are entitled to be included in the registration and
underwriting by persons other than the Company shall be allocated in the
following priority: first, among all holders of Registrable Securities in
proportion, as nearly as practicable, to the respective amounts of securities
which they had requested to be included in such registration at the time of
filing the registration statement, and second, among persons not contractually
entitled to registration rights under this Agreement. If any Preferred Holder or
other stockholder disapproves of the terms of any such underwriting, such holder
may elect to withdraw therefrom by written notice to the Company and the
Underwriter. Any Registrable Securities or other securities excluded or
withdrawn from such underwriting shall be withdrawn from such registration.

         3.2 DEMAND REGISTRATION

                  3.2.1 REQUEST FOR REGISTRATION. If the Company shall receive
from Initiating Holders, at any time following the date which is two years after
the effective date of this Agreement, a written request that the Company effect
any registration with respect to at least 5 1 % of the then outstanding
Registrable Securities the Company will

                           3.2.1.1 promptly give written notice of the proposed
registration to all other holders of Registrable Securities; and

                           3.2.1.2 as soon as practicable, use its best efforts
to effect such registration (including, without limitation, the execution of an
undertaking to file post-effective amendments, appropriate qualification under
applicable blue sky or other state securities laws and appropriate compliance
with applicable regulations issued under the Securities Act) as may be so
requested and as would permit or facilitate the sale and distribution of all or
such portion of such Registrable Securities as are specified in such request,
together with all or such portion of the Registrable Securities of any Preferred
Holders joining in such request as are specified in a written request delivered
to the Company within 15 days after receipt of such written notice from the
Company; PROVIDED THAT the Company shall not be obligated to effect, or to take
any action to effect, any such registration pursuant to this Section 3.2:

                                    3.2.1.2.1 in any particular jurisdiction in
which the Company would be required to execute a general consent to service of
process in effecting such registration, qualification or compliance, unless the
Company is already subject to service in such jurisdiction and except as may be
required by the Securities Act; or

                                    3.2.1.2.2 after the Company has effected one
such registration pursuant to this Section 3.2 and such registration has been
declared or ordered effective and the sales of such Registrable Securities have
closed.

                                       6
<PAGE>

         Subject to the foregoing clauses 3.2.1.2.1 and 3.2.1.2., the Company
shall file a registration statement covering the Registrable Securities so
requested to be registered as soon as practicable, after receipt of the request
or requests of the Initiating Holders; provided, however, that if the Company
shall furnish to such Initiating Holders a certificate signed by the President
of the Company stating that in the good faith judgment of the Board of Directors
of the Company, it would be significantly detrimental to the Company and its
stockholders for such registration statement to be filed on or before the time
filing would be required and it is therefore essential to defer the filing of
such registration statement, the Company shall have the right to defer such
filing (but not more than once during any twelve month period) for a period of
not more than 180 days after receipt of the request of the Initiating Holders.

         The registration statement filed pursuant to the request of the
Initiating Holders may, subject to the provisions of Section 3.2.2 below,
include other securities of the Company which are held by Major Shareholders and
other officers or directors of the Company or which are held by persons who, by
virtue of agreements with the Company, are entitled to include their securities
in any such registration.

                  3.2.2 UNDERWRITING. If the Initiating Holders intend to
distribute the Registrable Securities covered by their request by means of an
underwriting, they shall so advise the Company as a part of their request made
pursuant to Section 3.2, and the Company shall include such information in the
written notice referred to in Section 3.2.1 above. The right of any Preferred
Holder to registration pursuant to this Section 3.2 shall be conditioned upon
such Preferred Holder's participation in such underwriting and the inclusion of
such Preferred Holder's Registrable Securities in the underwriting to the extent
provided herein. A Preferred Holder may elect to include in such underwriting
all or a part of the Registrable Securities he holds.

                  The Company shall (together with all Preferred Holders
proposing to distribute their securities through such underwriting) enter into
an underwriting agreement in customary form with the representative of the
underwriter or underwriters selected for such underwriting by the Initiating
Holders and reasonably acceptable to the Company. Notwithstanding any other
provision of this Section 3.2, if the Underwriter determines that marketing
factors require a limitation on the number of shares to be underwritten, the
Underwriter may (subject to the allocation priority set forth below) limit the
number of Registrable Securities to be included in the registration and
underwriting to not less than twenty percent (20%) of the securities which
Preferred Holders have requested be included therein. The Company shall so
advise all holders of securities requesting registration, and the number of
shares of securities that are entitled to be included in the registration and
underwriting shall be allocated in the following priority: first, among all
Preferred Holders; second, among Major Shareholders in proportion, as nearly as
practicable, to the respective amounts of securities which they had requested to
be included in such registration at the time of filing the registration
statement; and third, among all other stockholders in proportion, as nearly as
practicable, to the respective amounts of securities which they had requested to
be included in such registration at the time of filing the registration
statement. If any holder requesting participation in the registration
disapproves of the terms of

                                        7
<PAGE>

any such underwriting, such holder may elect to withdraw therefrom by written
notice to the Company and the Underwriter. Any Registrable Securities excluded
or withdrawn from such underwriting shall be withdrawn from such registration.
If the Underwriter has not limited the number of Registrable Securities or other
securities to be underwritten, the Company may include its securities for its
own account in such registration if the underwriter so agrees and if the number
of Registrable Securities and other securities which would otherwise have been
included in such registration and underwriting will not thereby be limited.

                  3.2.3 UNDERWRITTEN PUBLIC OFFERING. If requested, and provided
that the underwriter or underwriters are reasonably satisfactory to the Company,
the Company shall enter into an underwriting agreement with an investment
banking firm or firms containing representations, warranties, indemnities and
agreements then customarily included by an issuer in underwriting agreements
with respect to secondary distributions. The Company shall not cause the
registration under the Securities Act of any other shares of its Common Stock to
become effective (other than registration of an employee stock plan, or
registration in connection with any Rule 145 or similar transaction) during the
effectiveness of a registration requested hereunder for an underwritten public
offering if, in the judgment of the underwriter or underwriters, marketing
factors would adversely affect the price of the Registrable Securities subject
to such underwritten registration.

         3.3 REGISTRATION ON FORM S-3. The Company shall use its best efforts to
qualify for registration on Form S-3, and to that end, the Company shall comply
with the reporting requirements of the Exchange Act following the effective date
of the first registration of any securities of the Company for a registered
public offering. After the Company has qualified for the use of Form S-3, each
holder of Registrable Securities shall have the right to request two
registrations on Form S-3 (such requests shall be in writing and shall state the
number of shares of Registrable Securities to be disposed of, which shall be at
least 50,000 shares of Common Stock, as appropriately adjusted for any
recapitalizations, stock combinations, stock dividends, stock splits and the
like, and the intended method of disposition of such shares by each such
holder), subject only to the following limitations:

                  3.3.1 The Company shall not be obligated to cause a
registration on Form S-3 to become effecitve prior to one hundred eighty (180)
days following the effective date of a Company-initiated registration (other
than a registration effected solely to qualify an employee benefit plan or to
effect a business combination pursuant to Rule 145), provided that the Company
shall use its best efforts to achieve such effectiveness promptly following such
one hundred eighty (180) day period;

                  3.3.2 The Company shall not be required to effect more than
one registration pursuant to this Section 3.3 within any 12-month period;

                                       8
<PAGE>

                  3.3.3 The Company may postpone any demand registration on Form
S-3 by up to 180 days if it believes in its good faith judgment, and after
consultation with its investment bankers, that such demand registration will be
detrimental to the Company; and

                  3.3.4 The Company shall not be required to maintain and keep
any such registration on Form S-3 effective for a period exceeding 90 days from
the effective date thereof. The Company shall give notice to all Preferred
Holders and all holders of registration rights under any other agreement of the
Company granting Form S-3 or similar demand registration rights of the receipt
of a request for registration pursuant to this Section 3.3 and shall provide a
reasonable opportunity for all such other holders to participate in the
registration. Subject to the foregoing, the Company will use its best efforts
to effect promptly the registration of all shares of Registrable Securities on
Form S-3 to the extent requested by the Preferred Holder or Preferred Holders
thereof for purposes of disposition. In the event the Underwriter determines
that market factors require a limitation on the number of shares to be
underwritten, then shares shall be excluded from such registration and
underwriting pursuant to the method described in Section 3.1.2.

         3.4 EXPENSES OF REGISTRATION. The Company shall pay the Registration
Expenses incurred in connection with the demand registration pursuant to Section
3.2, up to two registrations on Form S-3 pursuant to Section 3.3, and all
Piggyback Registrations, provided, however, that the Company shall not be
required to pay any Registration Expenses if, as a result of the withdrawal of
a request for registration by Initiating Holders, the registration statement
does not become effective, unless such withdrawal is caused by a material
adverse change in the business or operations of the Company after such request
for registration, or unless the Initiating Holders agree to have such
registration considered a registration pursuant to Section 3.2.1.2.2. If the
Company is not required to pay any Registration Expenses, then the holders of
Registrable Securities seeking to participate in such registration shall bear
such Registration Expenses pro rata on the basis of the number of their shares
so included in the registration request, and such registration shall not be
considered a registration for purposes of Section 3.2.1.2.2.

         3.5 INDEMNIFICATION.

                  3.5.1 The Company will indemnify each Preferred Holder, each
of its officers, directors and partners, and each person controlling such
Preferred Holder within the meaning of Section 15 of the Securities Act, if
Registrable Securities held by such Preferred Holder are included in the
securities with respect to which registration, qualification or compliance has
been effected pursuant to this Agreement, and each underwriter, if any, and each
person who controls any underwriter within the meaning of Section 15 of the
Securities Act, against all claims, losses, damages and liabilities (or actions
in respect thereof) arising out of or based on any untrue statement (or alleged
untrue statement) of a material fact contained in any prospectus, offering
circular or other document (including any related registration statement)
incident to any such registration, qualification or compliance, or based on any
omission (or alleged omission) to state therein a material fact required to be
stated therein or necessary to make the statements therein,

                                        9
<PAGE>

in light of the circumstances in which they were made, not misleading, or any
violation by the Company of the Securities Act, including any rule or regulation
thereunder applicable to the Company relating to action or inaction required of
the Company in connection with any such registration, qualification or
compliance, and will reimburse each such Preferred Holder, each of its officers,
directors and partners, and each person controlling such Preferred Holder, each
such underwriter and each person who controls any such underwriter, for any
legal and any other expenses reasonably incurred in connection with
investigating and defending any such claim, loss, damage, liability or action,
provided that the Company will not be liable in any such case to the extent that
any such claim, loss, damage, liability or expense arises out of or is based on
any untrue statement (or alleged untrue statement) or omission (or alleged
omission) based upon written information furnished to the Company by such Holder
or underwriter and stated to be specifically for use therein.

                  3.5.2 Each Preferred Holder will, if Registrable Securities or
other securities held by such Preferred Holder are included in the securities as
to which such registration, qualification or compliance is being effected,
indemnify the Company, each of its directors, officers and agents and each
underwriter, if any, of the Company's securities covered by such a registration
statement, each person who controls the Company or such underwriter within the
meaning of Section 15 of the Securities Act, each other such Preferred Holder
and each of their officers, directors and partners, and each person controlling
such Preferred Holder within the meaning of Section 15 of the Securities Act,
against all claims, losses, damages and liabilities (or actions in respect
thereof) arising out of or based on any untrue statement (or alleged untrue
statement) of a material fact contained in any such registration statement,
prospectus, offering circular or other document, or any omission (or alleged
omission) to state therein a material fact required to be stated therein or
necessary to make the statements therein, in light of the circumstances in which
they were made, not misleading, and will reimburse the Company and such
Preferred Holders, directors, officers, agents, partners, persons, underwriters
or control persons for any legal or any other expenses reasonably incurred in
connection with investigating or defending any such claim, loss, damage,
liability or action, in each case to the extent, but only to the extent, that
such untrue statement (or alleged untrue statement) or omission (or alleged
omission) is made in such registration statement, prospectus, offering circular
or other document in reliance upon and in conformity with written information
furnished to the Company by such Preferred Holder and stated to be specifically
for use therein. In no event shall the aggregate liability of a Preferred Holder
for indemnification under this Section 3.5.2 exceed the net proceeds received by
such Preferred Holder from the sale of shares in such offering.

                  3.5.3 Each party entitled to indemnification under this
Section 3.5 (the "INDEMNIFIED PARTY") shall give notice to the party required to
provide indemnification (the "INDEMNIFYING PARTY") promptly after such
Indemnified Party has actual knowledge of any claim as to which indemnity may be
sought and shall permit the Indemnifying Party to assume the defense of any such
claim or any litigation resulting therefrom, PROVIDED THAT counsel for the
Indemnifying Party, who shall conduct the defense of such claim or any
litigation resulting therefrom, shall be approved by the Indemnified Party
(whose approval shall not unreasonably

                                       10
<PAGE>

be withheld), and the Indemnified Party may participate in such defense at such
party's expense, and PROVIDED FURTHER THAT the failure of any Indemnified Party
to give notice as provided herein shall not relieve the Indemnifying Party of
its obligations under this Agreement, except to the extent that the Indemnifying
Party is prejudiced thereby. Each Indemnified Party shall furnish such
information regarding itself or the claim in question as an Indemnifying Party
may reasonably request and as shall be reasonably required in connection with
the defense of such claim and litigation resulting therefrom. An Indemnified
Party shall have the right to retain its own counsel, with the fees and expenses
to be paid by the Indemnifying Party, if representation of such Indemnified
Party by the counsel retained by the Indemnifying Party would be inappropriate
due to actual or potential conflicts of interest between such Indemnified Party
and any other party represented by such counsel in such proceeding, PROVIDED
THAT in no event shall the Indemnifying Party be required to pay the fees and
expenses of more than one such separate counsel for all Indemnified Parties.

                  3.5.4 If the indemnification provided for in this Section 3.5
is held by a court of competent jurisdiction to be unavailable to an Indemnified
Party with respect to any losses, claims, damages or liabilities referred to
herein, the Indemnifying Party, in lieu of indemnifying such Indemnified Party
thereunder, shall to the extent permitted by applicable law contribute to the
amount paid or payable by such Indemnified Party as the result of such loss,
claim, damage or liability in such proportion as is appropriate to reflect the
relative fault of the Indemnifying Party on the one hand and of the Indemnified
Party on the other in connection with the allegation(s) that resulted in such
loss, claim, damage or liability, as well as any other relevant equitable
considerations. The relative fault of the Indemnifying Party and of the
Indemnified Party shall be determined by a court of law by reference to, among
other things, whether the untrue or alleged untrue statement of a material fact
or the omission to state a material fact relates to information supplied by the
Indemnifying Party or by the Indemnified Party and the parties' relevant intent,
knowledge, access to information and opportunity to correct or prevent such
statement or omission; PROVIDED THAT in no event shall any contribution by a
Preferred Holder hereunder exceed the proceeds from the sale of shares in the
offering received by such Preferred Holder.

                  3.5.5 The obligations of the Company and Preferred Holders
under this Section 3.5 shall survive the completion of any offering of
Registrable Securities in a registration statement and the termination of this
Agreement. No Indemnifying Party, in the defense of any such claim or
litigation, shall consent to the entry of any judgment or enter into any
settlement thereof which does not involve solely the payment of money damages
except with the prior written consent of each Indemnified Party (which consent
shall not be unreasonably withheld). Unless waived by the Indemnified Party, all
judgments and settlements must include as an unconditional term thereof the
giving by the claimant or plaintiff to such Indemnified Party of a release from
all liability in respect to such claim or litigation.

                                       11
<PAGE>

         3.6 RULE 144 REPORTING. With a view to making available the benefits of
certain rules and regulations of the SEC which may permit the sale of the
Registrable Securities to the public without registration, the Company agrees
to:

                  3.6.1. Make and keep public information available as those
terms are understood and defined in Rule 144 under the Securities Act, at all
times from and after ninety (90) days following the effective date of the first
registration under the Securities Act filed by the Company for an offering of
its securities to the general public;

                  3.6.2. Use its best efforts to file with the Commission in a
timely mariner all reports and other documents required of the Company under the
Securities Act and the Exchange Act at any time after it has become subject to
such reporting requirements;

                  3.6.3. So long as a Preferred Holder owns any Restricted
Securities, furnish to the Preferred Holder forthwith upon request a written
statement by the Company as to its compliance with the reporting requirements of
Rule 144 (at any time from and after ninety (90) days following the effective
date of the first registration statement filed by the Company for an offering of
its securities to the general public), and of the Securities Act and the
Exchange Act (at any time after it has become subject to such reporting
requirements).

         3.7 STANDOFF AGREEMENT. In connection with any underwritten public
offering by the Company, if requested by the managing underwriter, each
Preferred Holder and Major Shareholder agrees not to sell, agree or contract to
sell, make any short sale of, loan, grant any option or warrant for the purchase
of, or otherwise dispose of any Stock (other than those included in the public
offering, if any) without the prior written consent of the Company or the
underwriters for such period of time (not to exceed one hundred eighty (180)
days in the event of a Qualified Initial Public Offering and 90 days in the
event of any other public offering) as may be requested by the Board of
Directors of the Company and the managing underwriter; PROVIDED, HOWEVER, , that
all officers and directors of the Company and all holders of at least five
percent of the voting power of the Company enter into similar agreements.

         3.8 LIMITATIONS ON SUBSEQUENT REGISTRATION RIGHTS. From and after the
date of this Agreement, the Company shall not, without the prior written consent
of the holders of at least 51% of the then outstanding Registrable Securities,
enter into any agreement with any holder or prospective holder of any securities
of the Company giving such holder or prospective holder any registration rights
the terms of which are senior to or PARI PASSU with the registration rights
granted to Preferred Holders hereunder or require the Company to effect a
registration earlier than the date on which Preferred Holders can first require
a registration under Section 3.2.

         3.9 TERMINATION OF RIGHTS. Unless otherwise provided herein, the rights
and provisions of this Article 3 shall terminate at the time an active public
trading market exists for the Common Stock of the Company and as to any
Preferred Holder, at such time as such

                                       12
<PAGE>

Preferred Holder is able to sell all of his Registrable Securities in any 90-day
period pursuant to Rule 144 promulgated under the Securities Act.

         3.10 MISCELLANEOUS.

                  3.10.1. TRANSFER OR ASSIGNMENT OF REGISTRATION RIGHTS. The
rights to cause the Company to register the Preferred Holder's securities
granted by the Company under Sections 3.1, 3.2 and 3.3 hereof may be transferred
or assigned by the Preferred Holder to a transferee or assignee of any of the
Registrable Securities, PROVIDED THAT the Company is given written notice by
such Preferred Holder at the time of said transfer or assignment, stating the
name and address of said transferee or assignee and identifying the securities
with respect to which such registration rights are being transferred or
assigned; and PROVIDED FURTHER THAT such transferee is a constituent partner of,
or subsidiary controlled by, the transferor, and after giving effect to such
transfer, the transferee holds at least 50,000 shares of Registrable Securities
(appropriately adjusted for recapitalizations, stock combinations, stock splits,
dividends and the like); and PROVIDED FURTHER THAT the transferee or assignee of
such rights is not deemed by the Board of Directors of the Company, in its
reasonable judgment, to be a competitor of the Company; and PROVIDED FURTHER
THAT the transferee or assignee of such rights assumes the obligations of a
Preferred Holder under this Agreement and the Purchase Agreement.

                  3.10.2. AGGREGATION OF STOCK. ALL Registrable Securities held
or acquired by Affiliated entities or persons shall be aggregated for the
purposes of determining the availability of any right under this Article 3.

4. RESTRICTIONS ON TRANSFERABILITY OF STOCK.

         4.1 SELLER

                  4.1.1 NOTICE OF PROPOSED TRANSFER. Before any Seller may
effect any Transfer of Stock, the Seller shall deliver to the Company and to the
Preferred Holders a written notice signed by the Seller (the "SELLER'S NOTICE")
stating (a) the Seller's bona fide intention to Transfer such Offered Stock; (b)
the name and address of each proposed purchaser or other transferee (the
"TRANSFEREE"); (c) the number of shares of the Offered Stock to be Transferred
to each Transferee; and (d) the bona fide cash price or other consideration for
which the Seller proposes to Transfer such Offered Stock (the "OFFERED PRICE");
and the Seller shall offer the Offered Stock at the Offered Price to the Company
and non-selling Preferred Holders.

                  4.1.2 COMPANY'S INITIAL RIGHT. The Company shall have the
right of first refusal to purchase all or any part of the Offered Stock, if the
Company gives written notice of the exercise of such right to the Seller within
ten days (the "COMPANY'S REFUSAL PERIOD") after the date on which the Seller's
Notice is received by the Company, PROVIDED THAT if the Company is not ready and
willing to consummate the purchase within 20 days after the date on which the
Seller's Notice is received by the Company, the Company's refusal right shall be
deemed to be

                                       13
<PAGE>

waived for such sale by Seller. If the Company desires to purchase less than all
of the Offered Stock, within ten days after expiration of the Company's Refusal
Period, the Company will give written notice to each Preferred Holder specifying
the number of shares of Offered Stock that were not subscribed by the Company
exercising its Right of First Refusal (the "COMPANY'S NOTICE").

                  4.1.3 PREFERRED HOLDERS' RIGHT. If the Company desires to
purchase less than all of the Offered Stock, the Preferred Holders and their
assignees have the right of first refusal to purchase all or any part of the
remaining Offered Stock; PROVIDED THAT each Preferred Holder gives written
notice of the exercise of such right to the Seller within ten days (the
"PREFERRED HOLDERS' REFUSAL PERIOD") after the date of the Company's Notice to
the Preferred Holders. To the extent the aggregate number of shares the
Preferred Holders desire to purchase exceeds the Offered Stock available, each
Preferred Holder will be entitled to purchase a fraction of the Offered Stock,
the numerator of which shall be the number of shares of Stock held by such
Preferred Holder and the denominator of which shall be the number of shares of
Stock held by all Preferred Holders exercising their Right of First Refusal.
Within five days after expiration of the Preferred Holders' Refusal Period, the
Seller will give written notice to the Company and each Preferred Holder
specifying the number of shares of Offered Stock that was subscribed by the
Preferred Holders exercising their Right of First Refusal (the "CONFIRMATION
NOTICE").

                  4.1.4 PURCHASE PRICE. The purchase price (the "PURCHASE
PRICE") for the Offered Stock to be purchased by the Company or a Preferred
Holder shall be the Offered Price, and shall be payable as set forth in Section
4.1.5 hereof. If the Offered Price includes consideration other than cash, the
cash equivalent value of the non-cash consideration shall be determined by the
Board of Directors of the Company in good faith, which determination shall be
binding upon the Company, each Preferred Holder and the Seller, absent fraud or
material error.

                  4.1.5 PAYMENT. Payment of the Purchase Price will be made
within 5 days after the later of (i) the end of the Company's Refusal Period, or
(ii) should there be delivery of the Company's Notice, the end of the Preferred
Holders' Refusal Period. Payment of the Purchase Price shall be made, at the
option of the Company or the exercising Preferred Holder, as the case may be,
(i) in cash (by check or wire transfer); (ii) by cancellation of all or a
portion of any outstanding indebtedness of the Seller to the Company or the
Preferred Holder, as the case may be; or (iii) by any combination of the
foregoing.

                  4.1.6 RIGHTS AS A STOCKHOLDER. If the Company or any Preferred
Holder exercises its Right of First Refusal to purchase the Offered Stock, then,
upon the date the notice of such exercise is given by the Company or any
Preferred Holder, the Seller will have no further rights as a holder of the
Offered Stock except the right to receive payment for the Offered Stock from the
Company or the Preferred Holder, as the case may be, in accordance with the
terms of this Agreement, and the Seller will forthwith cause all certificate(s)
evidencing such Offered Stock to be surrendered for transfer to the Company or
the Preferred Holder, as the case may be.

                                       14
<PAGE>

                  4.1.7 SELLER'S RIGHT TO TRANSFER. If the Company and each
Preferred Holder have not elected to purchase all of the Offered Stock, then,
subject to the Preferred Holders' Right of Co-Sale as defined in Article 5
hereof, the Seller may transfer that portion of the Offered Stock permitted to
be sold, to any person named as a Transferee in the Seller's Notice, at the
Offered Price or at a higher price, provided that such Transfer (i) is
consummated within 30 days after the end of the Preferred Holders' Refusal
Period, (ii) is on terms no more favorable to the Transferee than the terms
proposed in the Seller's Notice and (iii) is in accordance with all the terms of
this Agreement. If the Offered Stock is not so Transferred during such 30-day
period, then the Seller may not Transfer any of such Offered Stock without
complying again in full with the provisions of this Agreement.

         4.2 SALES BY PREFERRED SELLERS

                  4.2.1 NOTICE . Before any Preferred Seller may effect any
Transfer of Preferred Stock, other than transfers to any general or limited
partner or other Affiliate of a Preferred Holder, the Preferred Seller shall
deliver to the other Preferred Holders and to the Company a written notice
signed by the Preferred Seller (the "PREFERRED SELLER'S NOTICE") stating (a) the
Preferred Seller's bona fide intention to Transfer such Offered Preferred Stock;
(b) the name and address of each proposed purchaser or other transferee (the
"TRANSFEREE"); (c) the number of shares of the Offered Preferred Stock to be
Transferred to each Transferee; and (d) the bona fide cash price or other
consideration for which the Preferred Seller proposes to Transfer such Offered
Preferred Stock (the "PREFERRED OFFERED PRICE"), and the Preferred Seller shall
offer the Offered Preferred Stock at the Preferred Offered Price to the
remaining Preferred Holders and the Company.

                  4.2.2 PREFERRED HOLDERS' INITIAL RIGHT. The Preferred Holders
shall have the right of first refusal to purchase all or any part of the Offered
Preferred Stock, if the Preferred Holders give written notice of the exercise of
such right to the Preferred Seller within ten (10) days (the "PREFERRED HOLDERS'
PREFERRED REFUSAL PERIOD") after the date on which the Preferred Seller's Notice
is received by the Preferred Holders, PROVIDED THAT if any Preferred Holder is
not ready and willing to consummate the purchase within twenty (20) days after
the date on which the Preferred Seller's notice is received by the Preferred
Holders, such Preferred Holder's refusal right shall be deemed to be waived. To
the extent the aggregate number of shares the Preferred Holders desire to
purchase exceeds the Offered Preferred Stock available, each Preferred Holder
will be entitled to purchase a fraction of the Offered Preferred Stock, the
numerator of which is the number of shares of Preferred Stock held by such
Preferred Holder and the denominator of which is the number of Shares of
Preferred Stock held by all Preferred Holders exercising their Right of First
Refusal. If the Preferred Holders desire to purchase less than all of the
Offered Preferred Stock, within ten (10) days after expiration of the Preferred
Holders' Preferred Refusal Period, the Preferred Seller will give written notice
to the Company specifying the number of shares of Offered Preferred Stock that
were not subscribed by the Preferred Holders exercising their Right of First
Refusal (the "PREFERRED SELLER'S NOTICE").

                                       15
<PAGE>

                  4.2.3 If the Preferred Holders desire to purchase less than
all of the Offered Preferred Stock, the Company shall have the right of first
refusal to purchase all or any part of the remaining Offered Preferred Stock;
PROVIDED THAT the Company gives written notice of the exercise of such right
to the Preferred Seller within ten days (the "COMPANY'S PREFERRED REFUSAL
PERIOD") after the date of the Preferred Holders' Notice to the Company.
Within five days after expiration of the Company's Preferred Refusal Period,
the Preferred Seller will give written notice to the Company and each
Preferred Holder specifying the number of shares of Offered Preferred Stock
that was subscribed by the Company exercising its Right of First Refusal (the
"PREFERRED CONFIRMATION NOTICE").

                  4.2.4 PURCHASE PRICE. The purchase price (the "PREFERRED
PURCHASE PRICE") for the Offered Preferred Stock to be purchased by a
Preferred Holder or the Company shall be the Preferred Offered Price, and
shall be payable as set forth in Section 4.2.5 hereof. If the Preferred
Offered Price includes consideration other than cash, the cash equivalent
value of the non-cash consideration shall be determined by the Board of
Directors of the Company in good faith, which determination shall be binding
upon the Company, each Preferred Holder and the Preferred Seller, absent
fraud or material error.

                  4.2.5 PAYMENT. Payment of the Preferred Purchase Price will
be made within 5 days after the later of (i) the end of the Preferred
Holders' Preferred Refusal Period, or (ii) should there be delivery of the
Preferred Holders' Notice, the end of the Company's Preferred Refusal Period.
Payment of the Preferred Purchase Price shall be made, at the option of the
exercising Preferred Holder or the Company, as the case may be, (i) in cash
(by check or wire transfer), (ii) by cancellation of all or a portion of any
outstanding indebtedness of the Preferred Seller to the Preferred Holder or
the Company, as the case may be; or (iii) by any combination of the foregoing.

                  4.2.6 RIGHTS AS A STOCKHOLDER. If any Preferred Holder or
the Company exercises its Right of First Refusal to purchase the Offered
Preferred Stock, then, upon the date the notice of such exercise is given by
any Preferred Holder or the Company, the Preferred Seller will have no
further rights as a holder of the Offered Preferred Stock except the right to
receive payment for the Offered Preferred Stock from the Preferred Holder or
the Company, as the case may be, in accordance with the terms of this
Agreement, and the Preferred Seller will forthwith cause all certificate(s)
evidencing such Offered Preferred Stock to be surrendered for transfer to the
Preferred Holder or the Company, as the case may be.

                  4.2.7 SELLER'S RIGHT TO TRANSFER. If each Preferred Holder
and the Company have not elected to purchase all of the Offered Preferred
Stock, then the Preferred Seller may transfer that portion of the Offered
Preferred Stock permitted to be sold to any person named as a Transferee in
the Preferred Seller's Notice, at the Preferred Offered Price or at a higher
price, provided that such Transfer (i) is consummated within 30 days after
the end of the Preferred Holders' Preferred Refusal Period, (ii) is on terms
no more favorable to the Transferee than the terms proposed in the Preferred
Seller's Notice and (iii) is in accordance with all the terms of this

                                       16
<PAGE>

Agreement. If the Offered Preferred Stock is not so Transferred during such
30-day period, then the Preferred Seller may not Transfer any of such Offered
Preferred Stock without complying again in full with the provisions of this
Agreement.

5. RIGHT OF CO-SALE.

         5.1 RIGHT OF CO-SALE. If the Company and the Preferred Holders have
waived or failed to timely exercise their Rights of First Refusal under Section
4.1 with respect to any portion of the Offered Stock, then if the Seller is a
Major Shareholder, the Seller may Transfer to the transferee such Offered Stock:
(i) if Seller gives further written notice to each Preferred Holder within 10
days after the date of the expiration of the Preferred Holders' Refusal Period
(the "RIGHT OF CO-SALE NOTICE"), specifying the date of the Transfer of the
Offered Stock to such transferee which shall not occur within ten days of the
Right of Co-Sale Notice (the "CLOSING"), and the number of shares and type of
Stock that the Seller desires to Transfer to the Transferee, and (ii) subject to
the Preferred Holders' Right of Co-Sale. If the Seller desires to Transfer to
the Transferee such Offered Stock, the Preferred Holders shall have the right to
require, at any time within fifteen (15) days of receipt of the Right of Co-Sale
Notice as a condition to such Transfer, that the Seller arrange for the purchase
by the Transferee, at the same price per share and on the same terms and
conditions as involved in such sale or disposition by the Seller, a number of
shares of the Preferred Holder's shares equal to a percentage of the Offered
Stock (regardless of whether the Offered Stock consists of preferred or common
issued upon conversion of the preferred) equivalent to the Preferred Holder's
Share. This Right of Co-Sale shall not apply with respect to Offered Stock sold
or to be sold by Seller to Preferred Holders under the Right of First Refusal.

         5.2 CONSUMMATION OF CO-SALE. A Preferred Holder may exercise the
Right of Co-Sale by delivering to the Seller, at any time within fifteen (15)
days of receipt of the Right of Co-Sale Notice, one or more certificates,
properly endorsed for Transfer, representing a number of shares not to exceed
such Preferred Holder's Share, representing such Stock to be Transferred by
the Seller on behalf of the Preferred Holder. If the Preferred Holder does
not hold a certificate in that series, class or type of stock representing
the number of securities to be sold by such Preferred Holder pursuant to this
Article 5, then the Company shall promptly issue a certificate representing
the proper number of shares to be sold pursuant to this Right of Co-Sale.
Following the Closing, the Company shall deliver a certificate for the
remaining balance of the securities held by the Preferred Holder, if any, to
such Preferred Holder. At the Closing, such certificates or other instruments
will be Transferred and delivered to the Transferee as set forth in the Right
of Co-Sale Notice in consummation of the transfer of the Offered Stock
pursuant to the terms and conditions specified in the Right of Co-Sale
Notice, and the Seller will remit, or will cause to be remitted, to each
participating Preferred Holder, within ten days after such Closing, that
portion of the proceeds of the Transfer to which each participating Preferred
Holder is entitled by reason of each Preferred Holder's participation in such
Transfer pursuant to the Right of Co-Sale.

                                       17
<PAGE>

6. MULTIPLE SERIES, CLASS OR TYPE OF STOCK. If the Offered Stock consists of
more than one series, class or type of Stock, the Seller has the right to
Transfer hereunder each such series, class or type; PROVIDED, HOWEVER, THAT if,
as to the Right of Co-Sale, a Preferred Holder does not hold any of such series,
class or type, and the proposed Transferee is not willing, at the Closing, to
purchase some other series, class or type of Stock from such Preferred Holder,
or is unwilling to purchase any Stock from such Preferred Holder at the Closing,
then such Preferred Holder will have the put right (the "PUT RIGHT") set forth
in Section 7.2 hereof.

7. REFUSAL TO TRANSFER: PUT RIGHT.

         7.1 REFUSAL TO TRANSFER. Any attempt by any Preferred Holder or
Stockholder to transfer any Stock in violation of any provision of this
Agreement will be void. The Company will not be required (i) to transfer on its
books any Stock that has been sold, gifted or otherwise transferred in violation
of this Agreement, or (ii) to treat as owner of such Stock, or to accord the
right to vote or pay dividends to any purchaser, donee or other transferee to
whom such Stock may have been so transferred.

         7.2 PUT RIGHT. If a Stockholder transfers any Stock in contravention of
the Preferred Holders' Right of Co-Sale under this Agreement (a "PROHIBITED
TRANSFER"), or if the proposed transferee of Offered Stock desires to purchase a
class, series or type of stock offered by the Stockholder not held by a
Preferred Holder or is unwilling to purchase any Stock from a Preferred Holder,
such Preferred Holder may, by delivery of written notice to such Stockholder (a
"PUT NOTICE") within ten days after (i) the Closing as defined in Section 5.1
above, or (ii) the date on which such Preferred Holder becomes aware of the
Prohibited Transfer or the terms thereof, require such Stockholder to purchase
from such Preferred Holder, for cash or such other consideration as the
Stockholder received in the Prohibited Transfer or at the Closing, a number of
shares of Stock (of the same class or type as transferred in the Prohibited
Transfer or at the Closing if such Preferred Holder then owns Stock of such
class or type; otherwise of Preferred Stock or Common Stock) having a purchase
price equal to the aggregate purchase price the Preferred Holder would have
received in the closing of such Prohibited Transfer if such Preferred Holder had
elected to exercise its right of Co-Sale with respect thereto or in the Closing
if the proposed transferee had been willing to purchase the Stock of the
Preferred Holder. The closing of such sale to the Stockholder will occur within
30 days after the date of such Preferred Holder's Put Notice to such
Stockholder.

8. STOP-TRANSFER ORDERS.

         8.1 STOP TRANSFER INSTRUCTIONS. Each Preferred Holder and Stockholder
agrees, to ensure compliance with the restrictions referred to herein, that the
Company may issue appropriate "stop transfer" certificates or instructions and
that, if the Company transfers its own securities, it may make appropriate
notations to the same effect in its records.

                                       18
<PAGE>

8.2 TRANSFERS. No securities shall be transferred by a Preferred Holder or
Stockholder unless (i) such transfer is made in compliance with all of the terms
of this Agreement and in compliance with the terms of applicable federal and
state securities laws and (ii) prior to such transfer, the transferee or
transferees sign a counterpart to this Agreement pursuant to which it or they
agree to be bound by the terms of this Agreement. The Company shall not be
required (a) to transfer on its books any shares that shall have been sold or
transferred in violation of any of the provisions of this Agreement or (b) to
treat as the owner of such shares or to accord the right to vote as such owner
or to pay dividends to any transferee to whom such shares shall have been so
transferred.

9. TERMINATION, WAIVER, MISCELLANEOUS.

         9.1 TERMINATION. The Preferred Holders' rights under Sections 4, 5, 6,
7 and 8 hereof will terminate upon the earlier of (i) the closing of a Qualified
Initial Public Offering, or (ii) the date on which this agreement is terminated
by the written consent of the Company and holders of 66 2/3% of the shares then
held by the Preferred Holders. The Company's Right of First Refusal under
Section 4.2 will terminate upon the earliest of: (i) a written election of the
Company pursuant to an action by the Board of Directors, (ii) immediately prior
to the closing of an initial public offering, or (iii) two (2) years from the
date of this Agreement.

         9.2 WAIVERS. Any waiver by a party of its rights hereunder will be
effective only if evidenced by a written instrument executed by such party or
its authorized representative and shall not constitute a waiver of any rights
provided in this Agreement with respect to any subsequent transactions covered
by this Agreement.

         9.3 OBLIGATION OF COMPANY. The Company agrees to use its best efforts
to enforce the terms of this Agreement, to inform the Preferred Holders of any
breach hereof (to the extent the Company has knowledge thereof) and to assist
the Preferred Holders in the exercise of their rights and the performance of
their obligations hereunder.

         9.4 COUNTERPARTS. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original and all of which
together shall constitute one instrument.

         9.5 GOVERNING LAW. This Agreement shall be construed in accordance
with, and governed in all respects by, the laws of the State of New York, as
applied to agreements entered into, and to be performed entirely in such state,
between residents of such state. The parties hereto agree to submit to the
jurisdiction of the federal and state courts of the State of New York with
respect to the breach or interpretation of this Agreement or the enforcement of
any and all rights, duties, liabilities, obligations, powers, and other
relations between the parties arising under this Agreement.

                                       19
<PAGE>

         9.6 EXPENSES. If any action at law or in equity (including arbitration)
is necessary to enforce or interpret the terms of this Agreement, the prevailing
party shall be entitled to reasonable attorneys' fees, expenses and necessary
disbursements in addition to any other relief to which such party may be
entitled.

         9.7 NOTICES. All notices and other communications required or
permitted hereunder shall be in writing and shall be mailed by first-class mail,
postage prepaid, or otherwise delivered by hand or by messenger, addressed (a)
if to a Preferred Holder, at the address set forth on EXHIBIT B attached hereto,
or at such other address as the Preferred Holder shall have furnished to the
other parties hereto in writing, or (b) if to any other holder of any
securities, at such address as such holder shall have furnished the other
parties hereto in writing, or, until any such holder so furnishes an address to
the Company, then to and at the address of the last holder of such Stock who has
so furnished an address to the Company, or (c) if to the Company, at the address
of its principal offices set forth on the signature page of this Agreement, or
at such other address as the Company shall have furnished to the other parties
hereto in writing.

         9.8 SEVERABILITY. If one or more provisions of this Agreement are held
to be unenforceable under applicable law, portions of such provisions, or such
provisions in their entirety, to the extent necessary, shall be severed from
this Agreement, and the balance of the Agreement shall be interpreted as if such
provision were so excluded and shall be enforceable in accordance with its
terms.

         9.9 FURTHER ASSURANCES. Each party hereby agrees to execute and deliver
all such further instruments and documents and take all such other actions as
the other party may reasonably request in order to carry out the intent and
purposes of this Agreement.

         9.10 CONFLICT. In the event of any conflict between the terms of this
Agreement and the Company's Certificate of Incorporation or its Bylaws, the
terms of the Company's Certificate of Incorporation, or its Bylaws, as the case
may be, will control. In the event of any conflict between the terms of this
Agreement and any other agreement to which a Stockholder is a party or by which
such Stockholder is bound, the terms of this Agreement will control. In the
event of any conflict between the Company's books and records and this Agreement
or any notice delivered hereunder, the Company's books and records will control
absent fraud or material error.

         9.11 TITLES AND SUBTITLES. The titles and subtitles used in this
Agreement are used for convenience in construing or interpreting this Agreement.

         9.12 DELAYS OR OMISSIONS. No delay or omission to exercise any right,
power or remedy accruing to any party to this Agreement, upon any breach or
default of the other party, shall impair any such right, power or remedy of such
non-breaching party nor shall it be construed to be a waiver of any such breach
or default, or an acquiescence therein, or of any similar breach or default
thereafter occurring; nor shall any waiver of any single breach or

                                       20
<PAGE>

default be deemed a waiver of any other breach or default theretofore or
thereafter occurring. Any waiver, permit, consent or approval of any kind or
character on the part of any party of any breach or default under this
Agreement, or any waiver on the part of any party of any provisions or
conditions of this Agreement, must be made writing and shall be effective only
to the extent specifically set forth in such writing. All remedies, either under
this Agreement, or by law or otherwise afforded to any Preferred Holder, shall
be cumulative and not alternative.

         9.13 ENTIRE AGREEMENT. This Agreement and the documents referred to
herein constitute the entire agreement between the parties hereto pertaining to
the subject matter hereof and any other written or oral agreements between the
parties hereto are expressly canceled.

         9.14 AMENDMENTS. This Agreement may be amended by the written agreement
of the holders of 66 2/3% or more of the shares of Preferred Stock, 51% of the
holders of Common Stock, and the Company.

         9.15 WAIVER OF PREEMPTIVE RIGHTS. BY ITS SIGNATURE BELOW, EACH OF THE
UNDERSIGNED PARTIES TO THIS AGREEMENT WAIVES ANY AND ALL PREEMPTIVE RIGHTS OR
OTHER SIMILAR RIGHTS IT MAY HAVE WITH RESPECT TO THE SALE OF SERIES A PREFERRED
STOCK BY THE COMPANY PURSUANT TO THE TERMS OF THE PURCHASE AGREEMENT.

                [The Remainder of Page Intentionally Left Blank)

                                       21
<PAGE>

                                      LIQUOR.COM, INC.

                                      By: /s/ Steve Olsher
                                         ---------------------------------------
                                      Name: Steve Olsher
                                           -------------------------------------
                                      Title: President
                                            ------------------------------------

                                      STOCKHOLDERS:

                                      ------------------------------
                                      George Wight, Jr.

                                      ------------------------------------------
                                      Brian Wink

                                      ------------------------------------------
                                      John Hurley

                                      ------------------------------------------
                                      Michael Rosedale

                                      CORPORATE CAPITAL STRATEGIES,
                                      INC.

                                      By:
                                         ---------------------------------------
                                      Name: George Wight, JR.
                                           -------------------------------------
                                      Title: Managing Director
                                            ------------------------------------

                                       22
<PAGE>

                                      LIQUOR.COM, INC.

                                      By: /s/ Steve Olsher
                                         ---------------------------------------
                                      Name: Steve Olsher
                                           -------------------------------------
                                      Title: President
                                            ------------------------------------

                                      STOCKHOLDERS:

                                      /s/ Steve Olsher
                                      ------------------------------------------
                                      Steve Olsher

                                      /s/ Gail Zelitsky
                                      ------------------------------------------
                                      Gail Zelitsky

                                      /s/ Erin Revesz
                                      ------------------------------------------
                                      Erin Revesz

                                      /s/ George Wight, Jr.
                                      ------------------------------------------
                                      George Wight, Jr.

                                      /s/ Brian Wink
                                      ------------------------------------------
                                      Brian Wink

                                      /s/ John Hurley
                                      ------------------------------------------
                                      John Hurley

                                      /s/ Michael Rosedale
                                      ------------------------------------------
                                      Michael Rosedale

                                       23
<PAGE>

                           [signature page continues]

                                      CORPORATE CAPITAL STRATEGIES,
                                      INC.

                                      By: /s/ George Wight, Jr.
                                         ---------------------------------------
                                      Name: George Wight, Jr.
                                           -------------------------------------
                                      Title: Managing Director
                                            ------------------------------------

                                       24
<PAGE>

                           [signature page continues]

                                     PREFERRED HOLDERS:

                                     GEM GLOBAL YIELD FUND LIMITED

                                     By: /s/ Pierce Loughran for
                                         Iona Limited
                                        ---------------------------------------
                                     Name: Pierce Loughran
                                          -------------------------------------
                                     Title: Director
                                           ------------------------------------

                                     GLOBAL STRATEGIC HOLDINGS LIMITED

                                     By: /s/ S. Etienne         /s/ N. B. Petty
                                        ---------------------------------------
                                     Name: Susan Etienne Nathan Petty
                                          -------------------------------------
                                     Title: Alternate Director for the Secretary
                                           ------------------------------------

                                     OCEAN STRATEGIC HOLDINGS LIMITED

                                     By: /s/ Rosemary E. Marr    /s/ S. Etienne
                                        ---------------------------------------
                                     Name: Rosemary E. Marr       Susan Etienne
                                          -------------------------------------
                                     Title: Director for the Secretary
                                           ------------------------------------

                                     TAZMANIC CORPORATION

                                     By: /s/ Bryan D. Legate
                                        ---------------------------------------
                                     Name: Bryan D. Legate
                                          -------------------------------------
                                     Title: Authorized Signatory
                                           ------------------------------------

                                     W.R. TIMKEN TRUST FBO ALEXANDER C. TIMKEN

                                     By: /s/ David H. Dix
                                        ---------------------------------------
                                     Name: David H. Dix
                                          -------------------------------------
                                     Title: Vice President
                                           ------------------------------------

                                       25
<PAGE>

                                    EXHIBIT A

MAJOR SHAREHOLDERS

Steve Olsher
Gail Zelitsky
Erin Revesz
Corporate Capital Strategies, Inc.

                                       26
<PAGE>

                                    EXHIBIT B

PREFERRED HOLDERS:

The GEM Global Yield Fund Limited
c/o The GEM Group and Bryan D. Legate
712 5th Avenue
7th Floor
New York, New York  10019

Global Strategic Holdings Limited
c/o The GEM Group and Bryan D. Legate
712 5th Avenue
7th Floor
New York, New York  10019

Ocean Strategic Holdings Limited
c/o The GEM Group and Bryan D. Legate
712 5th Avenue
7th Floor
New York, New York  10019

Tazmanic Corporation
c/o The GEM Group and Bryan D. Legate
712 5th Avenue
7th Floor
New York, New York  10019

W.R. Timken Trust FBO Alexander C. Timken
c/o The GEM Group and Bryan D. Legate
712 5th Avenue
7th Floor
New York, New York  10019<PAGE>
                                                                  Exhibit 10.15

                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT (the "AGREEMENT") is made as of this 1st day
of March, 2000, by and between Liquor.com, Inc., a Delaware corporation (the
"COMPANY"), and Barry Grieff (the "EXECUTIVE").

                                    RECITALS:

         A. The Company is actively engaged in operating an e-commerce site
(Liquor.com) which facilitates both the purchase and sending of liquor, wine,
and other alcoholic or non-alcholic beverage by businesses and individuals, for
gift delivery and personal consumption.

         B. The Company is currently expanding its business by further utilizing
its existing network of affiliates in the alcholic beverage industry to reduce
the cost and increase the efficiency at each tier of the alcholic beverage
distribution system.

         C. The Company desires to employ Executive to further its business and
Executive desires to be employed by the Company, subject to the terms,
conditions and covenants hereinafter set forth.

         D. As a condition of the Company entering into this Agreement with the
Executive, Executive has agreed to execute and deliver the
Confidentiality/Invention and Non-Compete Agreement attached hereto as EXHIBIT A
(the "Confidentiality Agreement").

         NOW, THEREFORE, in consideration of the foregoing and the agreements,
covenants and conditions set forth herein, the Executive and the Company hereby
agree as follows:

                                    ARTICLE I

                                   EMPLOYMENT

         1.1 EMPLOYMENT. The Company hereby employs, engages and hires
Executive, and Executive hereby accepts employment, upon the terms and
conditions set forth in this Agreement. The Executive shall serve as the Chief
Executive Officer of the Company, reporting only to the Board of Directors of
the Company. Executive shall have and fully perform such duties and
responsibilities that are commensurate and consistent with his position, as may
be, from time to time, assigned to him by the Board of Directors of the Company.
As the Chief Executive Officer, Executive's duties shall include, but not be
limited to, participating with the Board of Directors in setting the strategic
plan of the Company, primary responsibility for implementing the Company's
strategic plan, and Executive shall have the authority to hire and fire all
operating employees of the Company. All executive officers of the Company shall
report to Executive.

                                        1

<PAGE>

         1.2 ACTIVITIES AND DUTIES DURING EMPLOYMENT. Except as provided below,
Executive represents and warrants to the Company that he is free to accept
employment with the Company, and that he has no prior or other commitments or
obligations of any kind to anyone else which would hinder or interfere with his
acceptance of his obligations under this Agreement, or the exercise of his best
efforts as an officer and employee of the Company. During the Employment Term
(as defined below), Executive agrees:

             (a) to devote substantially all of his business, time, attention
         and efforts to the faithful and diligent performance of his services to
         the Company;

             (b) to faithfully serve and further the interests of the Company in
         every lawful way, giving honest, diligent, loyal and cooperative
         service to the Company; and

             (c) to comply with all lawful rules and policies which, from time
         to time, may be adopted by the Company.

Notwithstanding the foregoing, the Executive shall be permitted to be a director
of ezcd.com and PCG, Inc., and to provide consulting services for his private
renumeration to alfy.com and R3Media; PROVIDED, HOWEVER, in no event shall these
activities, individually or in the aggregate, interfere in any manner with the
performance of his duties for the Company.

                                   ARTICLE II

                                      TERM

         2.1 TERM. The term of employment under this Agreement shall be one (1)
year (the "INITIAL TERM"), commencing on the date of the Agreement, which
Employment Term shall automatically renew for one year periods unless terminated
by either party by written notice not less than ninety (90) days prior to
expiration of the then-current term (such term of employment, as it may be
extended or terminated, is herein referred to as the "EMPLOYMENT TERM").

         2.2 TERMINATION.  The employment of Executive may be terminated as
follows:

             (a) By either party upon at least ninety (90) days written notice
         to the other party, in which event such termination shall be effective
         upon expiration of the notice period. If Executive terminates his
         employment pursuant to this SECTION 2.2(a), such termination is
         hereinafter referred to as a "VOLUNTARY TERMINATION".

             (b) By the Company immediately for "CAUSE." For the purpose of this
         Agreement, "CAUSE" shall mean that the Board of Directors concludes, in
         good faith and after reasonable investigation that (i) Executive
         engaged in conduct amounting to fraud, embezzlement, or willful or
         illegal misconduct in connection with Executive's duties under

                                        2

<PAGE>

         this Agreement; (ii) the Executive has been indicted or convicted by a
         court of proper jurisdiction of (or his written, voluntary and freely
         given confession to) a crime which constitutes a felony and/or results
         in material injury to the Company's property, operation or reputation;
         (iii) Executive materially breached the Confidentiality Agreement; or
         (iv) the Executive has substantially and continually failed to perform
         duties reasonably directed by the Board of Directors or Chief
         Executive Officer after written notice from the Board of Directors and
         a fifteen (15) day opportunity to cure.

             (c) Upon the death of Executive.

             (d) By either party upon the Total Disability of the Executive. The
         Executive shall be considered to have a Total Disability for purposes
         of this Agreement if he is unable by reason of accident or illness to
         substantially perform his employment duties, and is expected to be in
         such condition for periods totaling four (4) months (whether or not
         consecutive) during any consecutive period of twelve (12) months.
         During a period of disability prior to termination hereunder, Executive
         shall continue to receive his base salary.

             (e) By the Executive upon five (5) business days notice to the
         Company for Good Reason, which notice shall state the reason for
         termination. For the purpose of this Agreement, "GOOD REASON" shall
         mean:

                 (i)   the assignment to the Executive of any duties
             inconsistent with the Executive's position (including status,
             offices and titles, office facilities, staff support and reporting
             requirements), authority, duties or responsibilities as
             contemplated by ARTICLE I of this Agreement, or any other action by
             the Company which results in a diminution in such position,
             authority, duties or responsibilities without prior written consent
             of the Executive, excluding for this purpose an isolated action not
             taken in bad faith and which is remedied by the Company within five
             (5) business days after receipt of written notice thereof given by
             the Executive;

                 (ii)  any material failure by the Company to comply with any of
             the provisions of this Agreement, other than an isolated failure
             not occurring in bad faith and which is remedied by the Company
             within five (5) business days after receipt of written notice
             thereof given by the Executive;

                 (iii) any purported termination by the Company of the
             Executive's employment otherwise than as expressly permitted by
             this Agreement; or

                 (iv)  requiring Executive to report to work as his principal
             place of business to a location outside of the greater metropolitan
             area of New York City.

If there is any dispute between the parties as to whether Cause, Good Reason, or
Total Disability exists, either party may submit the dispute to binding
arbitration. Any such arbitration proceeding

                                        3

<PAGE>

will be conducted in New York, New York and except as otherwise provided in this
Agreement, will be conducted under the auspices of JAMS/Endispute, in accordance
with the then current Commercial Arbitration Rules of the American Arbitration
Association. The arbitrator(s) shall allow such discovery as the arbitrator(s)
determines appropriate under the circumstances. The arbitrator(s) shall
determine which party, if either, prevailed and shall award the prevailing party
its costs and attorneys fees. The award and decision of the arbitrator shall be
conclusive and binding on all parties to this Agreement and judgment on the
award may be entered in any court of competent jurisdiction. The parties
acknowledge and agree that any arbitration award may be enforced against either
or both of them in a court of competent jurisdiction and each waives any right
to contest the validity or enfor ceability of such award. The parties further
agree to be bound by the provisions of any statute of limitations which would be
applicable in a court of law to the controversy or claim which is the subject of
any arbitration proceeding initiated under this Agreement. The parties further
agree that they are entitled in any arbitration proceeding to the entry of an
order, by a court of competent jurisdiction pursuant to an opinion of the
arbitrator, for specific performance of any of the requirements of this
Agreement.

         2.3 CESSATION OF RIGHTS AND OBLIGATIONS: SURVIVAL OF CERTAIN
PROVISIONS. On the date of expiration or earlier termination of the Employment
Term for any reason, all of the respective rights, duties, obligations and
covenants of the parties, as set forth herein, shall, except as specifically
provided herein to the contrary, cease and become of no further force or effect
as of the date of said termination, and shall only survive as expressly provided
for herein.

         2.4 TREATMENT OF EXECUTIVE UPON TERMINATION OF EMPLOYMENT. In lieu of
any severance under any severance plan that the Company may then have in effect,
the Company shall pay to the Executive, and the Executive shall be entitled to
receive in one lump sum payment, the following amounts within thirty (30) days
of the date of a termination of the Employment Term:

             (a) VOLUNTARY TERMINATION OR FOR CAUSE. Upon a Voluntary
         Termination of the Employment Term by the Executive, the expiration of
         the Employment Term because the Executive elects not to extend the
         Employment Term, or a termination of the Employment Term for Cause by
         the Company, the Executive shall be entitled to receive his current
         Base Salary (as defined herein) and expense reimbursement through the
         date of termination.

             (b) DEATH, TOTAL DISABILITY, GOOD REASON AND WITHOUT CAUSE. Upon
         the termination of the Employment Term by reason of the Death or Total
         Disability of the Executive, by the Executive for Good Reason, by the
         Company without Cause (before and after a Change in Control (as defined
         in the Option Agreement)), or the expiration of the Employment Term
         because the Company did not elect to extend the Employment Term, the
         Executive shall be entitled to receive (i) Base Salary and expense
         reimbursement through the date of termination, (ii) any Performance
         Bonus or other bonus earned through the date of termination, (iii) an
         amount equal to Executive's pro-rated bonus for the 180 day period
         following the date of termination calculated as if the Executive had
         met the greater of (A)

                                        4

<PAGE>

         the actual percentage of target achieved by Executive by the date of
         termination, or (B) fifty percent (50%) of the target, and (iv) an
         amount equal to one year of his current Base Salary.

In addition, the Executive shall be entitled to continue to receive, at the
Company's sole expense, all health and disability benefits for a period of one
year after the termination date if Executive's Employment Term was terminated
for any reason set forth in SECTION 2.4(b) above (except death).

         2.5 NO MITIGATION OF DAMAGES DEFENSE. The Company shall not be entitled
to interpose in any forum or proceedings whatsoever the defense of "mitigation
of damages," notwithstanding that the Executive shall have entered into or could
have entered into any other employment.

                                   ARTICLE III

                            COMPENSATION OF BENEFITS

         3.1 COMPENSATION.

             (a) During the Employment Term, the Company shall pay Executive a
         base salary ("BASE SALARY") of Two Hundred Twenty-Five Thousand Dollars
         ($225,000) per year. The Base Salary will be reviewed annually by the
         Board of Directors with a view to increasing it. The Company shall not
         be permitted to reduce the Base Salary.

             (b) The Company shall, in addition to Executive's Base Salary, pay
         Executive an annual performance bonus (the "PERFORMANCE BONUS") in an
         amount based on the Company obtaining certain targeted financial goals,
         each as established by the Board of Directors of the Company, after
         consultation with the Executive. Initially, the Executive shall be
         entitled to earn the following Performance Bonuses:

                 (i)   The Company will pay Executive $25,000 upon the Company
             reaching $8.0 million dollars in gross revenue, calculated on a
             rolling twelve month period (the "$8.0 Million Target").

                 (ii)  The Company will pay Executive $100,000 upon the Company
             reaching $10.0 million dollars in gross revenue, calculated on a
             rolling twelve month period.

                 (iii) The Company will pay Executive incremental cash bonuses
             in amounts determined by the Board of Directors of the Company
             after consultation with Executive, upon the Company reaching gross
             revenue targets (as also determined by the Board of Directors)
             between $10.1 million and $11.9 million dollars, calculated on a
             rolling twelve month period. The Company and Executive

                                        5

<PAGE>

             shall endeavor to determine the incremental bonus amounts within
             ninety (90) days of the date hereof.

                 (iv)  The Company will pay Executive $100,000 upon the Company
             reaching gross revenues of $12 million dollars, calculated on a
             rolling twelve month period.

The Executive shall remain eligible to earn the foregoing Performance Bonuses
for the period beginning on the date hereof and ending on the date that is
twelve months after a Financing Event. For purposes of this Agreement, a
"Financing Event" shall mean the earlier to occur of: (i) the closing of an
initial public offering of the Company's shares of common stock that raises a
minimum of $20 million dollars ("IPO"), and (ii) the closing of a financing
(equity and/or debt) raising at least $20 million dollars. As used herein,
"gross revenue" shall be calculated using the same accounting concepts, rules
and procedures as used in calculating gross revenue on the Company's income
statement for the year ending December 31, 1999. All Performance Bonuses earned
hereunder shall be payable within fourteen (14) days of the date the revenue
target was achieved by the Company.

             (c) The Company shall pay Executive a bonus of $50,000 within
         fourteen (14) days of a Financing Event.

             (d) The Company may pay to the Executive such additional bonuses as
         the Board of Directors of the Company may deem appropriate.

         3.2 PAYMENT. All compensation shall be payable in intervals in
accordance with the general payroll payment practice of the Company. The
compensation shall be subject to such withholdings and deductions by the Company
as are required by law.

         3.3 OPTIONS. Concurrently with the commencement of Executive's
employment, the Company shall grant to the Executive stock options to purchase
up to seven percent (7%) of the number of outstanding shares of the Company's
common stock, calculated on a fully diluted basis (exclusive of Executive's
Option) which shall be protected against dilution through a Financing Event
(including any warrants issued in connection with an IPO). The options will have
an exercise price of $3.52 per share and will be subject to vesting and have
such other terms as provided in the form of the Option Agreement attached hereto
as EXHIBIT B.

         3.4 BUSINESS EXPENSES.

             (a) REIMBURSEMENT. The Company shall reimburse the Executive for
         all reasonable business expenses incurred by him in connection with the
         performance of his duties hereunder, including, but not limited to,
         reasonable telephone, travel expenses and entertainment expenses.

                                        6

<PAGE>

             (b) ACCOUNTING. The Executive shall provide the Company with an
         accounting of his expenses, which accounting shall clearly reflect
         which expenses are reimbursable by the Company. The Executive shall
         provide the Company with such other supporting documentation and other
         substantiation of reimbursable expenses as will conform to Internal
         Revenue Service or other requirements. All such reimbursements shall be
         payable by the Company to the Executive within a reasonable time after
         receipt by the Company of appropriate documentation therefor.

         3.5 OTHER BENEFITS. Executive shall be entitled to participate in any
retirement, pension, profit-sharing, stock option, health plan, incentive
compensation and welfare or any other benefit plan or plans of the Company which
may now or hereafter be in effect for executive officers of the Company. Until
such time as the Company establishes a group health benefit plan for its
executive officers, the Company shall pay Executive's insurance premiums for his
current medical benefits. In addition, during the Employment Term, the Company
will pay the premiums on a [20] year term life insurance policy in the amount of
$1.0 million dollars. The Company shall secure director and officer insurance
for the benefit of Executive and all of the other executive officers and
directors of the Company.

                                   ARTICLE IV

                                  MISCELLANEOUS

         4.1 NOTICES. All notices or other communications required or permitted
hereunder shall be in writing and shall be deemed given, delivered and received
(a) when delivered, if delivered personally, (b) four days after mailing, when
sent by registered or certified mail, return receipt requested and postage
prepaid, (c) one business day after delivery to a private courier service, when
delivered to a private courier service providing documented overnight service,
and (d) on the date of delivery if delivered by telecopy, receipt confirmed,
provided that a confirmation copy is sent on the next business day by first
class mail, postage prepaid, in each case addressed as follows:

         To Executive at his home address.

         With a copy to:     Brown Raysman Millstein Felder & Steiner
                             185 Asylum Street
                             City Place II, 10th Floor
                             Hartford, Connecticut  06103
                             Attn:   Beverly Garofalo

         To Company at:      Liquor.com, Inc.
                             4205 W. Irving Park Road
                             Chicago, IL 60641
                             Attn:   Board of Directors

                                        7

<PAGE>

                             Ph:
                             Fax:

         With a copy to:     Shefsky & Froelich Ltd.
                             444 North Michigan Avenue
                             Suite 2500
                             Chicago, IL  60611
                             Attention: James R. Asmussen

Any party may change its address for purposes of this paragraph by giving the
other party written notice of the new address in the manner set forth above.

         4.2 ENTIRE AGREEMENT; AMENDMENTS, ETC. This Agreement and the
Agreements referred to herein contain the entire agreement and understanding of
the parties hereto, and supersedes all prior agreements and understandings
relating to the subject matter thereof including that certain letter agreement
between Executive and the Company dated March 14, 2000. No modification,
amendment, waiver or alteration of this Agreement or any provision or term
hereof shall in any event be effective unless the same shall be in writing,
executed by both parties hereto, and any waiver so given shall be effective only
in the specific instance and for the specific purpose for which given.

         4.3 BENEFIT. This Agreement shall be binding upon, and inure to the
benefit of, and shall be enforceable by, the heirs, successors, legal
representatives and permitted assignees of Executive and the successors,
assignees and transferees of the Company. This Agreement or any right or
interest hereunder may not be assigned by Executive or the Company without the
prior written consent of the other party.

         4.4 NO WAIVER. No failure or delay on the part of any party hereto in
exercising any right, power or remedy hereunder or pursuant hereto shall operate
as a waiver thereof; nor shall any single or partial exercise of any such right,
power or remedy preclude any other or further exercise thereof or the exercise
of any other right, power or remedy hereunder or pursuant thereto.

         4.5 SEVERABILITY. Wherever possible, each provision of this Agreement
shall be interpreted in such manner as to be effective and valid under
applicable law but, if any provision of this Agreement shall be prohibited by or
invalid under applicable law, such provision shall be ineffective to the extent
of such prohibition or invalidity, without invalidating the remainder of such
provision or the remaining provisions of this Agreement. If any part of any
covenant or other provision in this Agreement is determined by a court of law to
be overly broad thereby making the covenant unenforceable, the parties hereto
agree, and it is their desire, that the court shall substitute a judicially
enforceable limitation in its place, and that as so modified the covenant shall
be binding upon the parties as if originally set forth herein.

                                       8

<PAGE>

         4.6 COMPLIANCE AND HEADINGS. Time is of the essence of this Agreement.
The headings in this Agreement are intended to be for convenience and reference
only, and shall not define or limit the scope, extent or intent or otherwise
affect the meaning of any portion hereof.

         4.7 GOVERNING LAW. The parties agree that this Agreement shall be
governed by, interpreted and construed in accordance with the laws of the State
of New York, and the parties agree that subject to the arbitration provision set
forth in SECTION 2.2, any suit, action or proceeding with respect to this
Agreement shall be brought in the courts of the U.S. District Court for the
Southern District of New York. The parties hereto hereby accept the exclusive
jurisdiction of those courts for the purpose of any such suit, action or
proceeding. Venue for any such action, in addition to any other venue permitted
by statute, will be New York, New York.

         4.8 COUNTERPARTS. This Agreement may be executed in one or more
counterparts, each of which will be deemed an original and all of which together
will constitute one and the same instrument.

         4.9 RECITALS. The Recitals set forth above are hereby incorporated in
and made a part of this Agreement by this reference.

         IN WITNESS WHEREOF, each of the parties hereto has caused this
Agreement to be executed and delivered as of the day and year first above
written.

                                        LIQUOR.COM, INC.,
                                        a Delaware corporation

                                        By: /s/ Scott B. Clark
                                           ------------------------------------
                                                Scott B. Clark
                                                Chief Financial Officer

                                        EXECUTIVE:

                                        /s/ Barry Grieff
                                        ---------------------------------------
                                        Barry Grieff

                                        9

<PAGE>

                     FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
                           AND STOCK OPTION AGREEMENT

         This First Amendment (the "Amendment") to the Employment Agreement and
Stock Option Agreement is made this ___ day of July, 2000 by and between Barry
Grieff ("Executive" and Liquor.com, Inc., a Delaware corporation (the
"Company").

                                R E C I T A L S:

         A.   The Company and the Executive entered into that certain Employment
Agreement dated March 1, 2000 (the "Employment Agreement") and that certain
Stock Option Agreement dated March 1, 2000 (the "Option Agreement").

         B.   The Executive and the Company desire to amend the Employment
Agreement and the Option Agreement in certain respects as described below.

         NOW, THEREFORE, the Employment Agreement and the Option Agreement are
hereby amended as follows:

         1.   Section 3.1(a) of the Employment Agreement is hereby amended by
deleting the words "Two Hundred Twenty-Five Thousand Dollars ($225,000) per
year" and inserting in lieu thereof "Two Hundred Fifty Thousand Dollars
($250,000) per year."

         2.   Section 3.1(b) of the Employment Agreement is hereby amended by
deleting subsections (i), (ii), (iii) and (iv) therefrom and inserting in lieu
thereof the following:

              "(i)    The Company will pay Executive $25,000 upon the Company
                      reaching $4.0 million dollars in gross revenue, calculated
                      on a rolling twelve month period (the "$4.0 Million
                      Target");

              (ii)    The Company will pay Executive $100,000 upon the Company
                      reaching $5.0 million dollars in gross revenue, calculated
                      on a rolling twelve month period;

              (iii)   The Company will pay Executive $10,000 upon the Company
                      reaching each $100,000 increment in gross revenue between
                      $5.0 million and $5.9 million dollars in gross revenue,
                      calculated on a rolling twelve month period; and

              (iv)    The Company will pay Executive $100,000 upon the Company
                      reaching $6.0 million dollars in gross revenue, calculated
                      on a rolling twelve month period."

<PAGE>

         3.   The Employment Agreement is hereby amended by adding the following
new section:

              "4.1    COSTS OF ENFORCEMENT. The Company shall reimburse the
                      Executive for reasonable attorneys' fees and costs
                      incurred by the Executive in connection with any claim by
                      the Executive brought hereunder (including but not limited
                      to all reasonable attorneys' fees and costs incurred by
                      the Executive in contesting or disputing any termination
                      of the Employment Term, or in seeking to obtain or enforce
                      any right or benefit provided by this Agreement), so long
                      as such claim is brought in good faith. The Company shall
                      pay Executive interest on any amounts wrongly withheld
                      from him hereunder, which amount shall accrue interest at
                      a rate of 8% per annum."

         4.   Section 3 of the Addendum to the Option Agreement is hereby
amended by deleting subsections (d) and (e) therefrom and inserting in lieu
thereof the following:

              "(d)    3.57% of the Total Share Amount shall vest at the
                      consummation of an IPO (as defined in the Employment
                      Agreement);

              (e)     10.71% of the Total Share Amount shall vest upon the
                      Company achieving the $4.0 Million Target (as defined in
                      the Employment Agreement) in accordance with the terms of
                      the Employment Agreement; and

              (f)     14.29% of the Total Share Amount shall vest upon the
                      Company reaching $10.0 million dollars in gross revenue,
                      calculated on a rolling twelve month period."

         5.   MISCELLANEOUS. Upon the execution and delivery of this Amendment,
the Employment Agreement and the Option Agreement shall be amended and
supplemented as set forth herein, as fully and with the same effect as if the
amendments and supplements made hereby were originally set forth in the
Employment Agreement and the Option Agreement. This Amendment shall not operate
so as to render invalid or improper any action heretofore taken under the
Employment Agreement and the Option Agreement.

         6.   COUNTERPARTS. This Amendment may be executed in any number of
counterparts, all of which when taken together shall constitute one and the same
interests.

                                       2

<PAGE>

         IN WITNESS WHEREOF, each of the parties hereto have caused the
Amendment to be executed and delivered as of the date set forth above.

                                               LIQUOR.COM, INC.,
                                               a Delaware corporation

                                               By: /s/ Scott Brian Clark
                                                   ----------------------------
                                                   Scott Brian Clark
                                                   Chief Financial Officer

                                               EXECUTIVE:

                                               /s/ Barry Grieff
                                               --------------------------------
                                               Barry Grieff

                                       3
<PAGE>

                                 EXHIBIT A

                       EMPLOYEE CONFIDENTIALITY/INVENTION
                            AND NON-COMPETE AGREEMENT

         EMPLOYEE CONFIDENTIALITY/INVENTION AND NON-COMPETE AGREEMENT (this
"AGREEMENT") is made and entered into as of March 1, 2000, by and between
Liquor.com, Inc., a Delaware corporation, (the "COMPANY"), and Barry Grieff
("EMPLOYEE").

                                R E C I T A L S:

         A.   The Company has offered Employee to become an employee of the
Company upon the terms set forth in Employee's Employment Agreement dated as of
March 1, 2000 (the "EMPLOYMENT AGREEMENT").

         B.   The Employee desires to accept the Company's offer of employment.

         C.   As a condition to the Company entering into the Employment
Agreement and the Employee's commencement of his employment with the Company,
and in consideration for such employment, the Employee has agreed to become
bound by the following covenants that are intended to protect the goodwill and
assets of the Company.

         NOW, THEREFORE, in consideration of the foregoing and the agreements,
covenants and conditions set forth herein, the Company and Employee hereby agree
as follows:

         1.   NON-DISCLOSURE OF CONFIDENTIAL INFORMATION. Employee hereby
acknowledges and agrees that the duties and services to be performed by Employee
for the Company are special and unique and that as of a result of his employment
by the Company, Employee will acquire, develop, learn, and use information of a
special and unique nature and value that is not generally known to the public or
to the Company's industry, including but not limited to, certain records,
secrets, documentation, manner of operation, software programs, price lists,
ledgers and general information, employee records, mailing lists, customer
lists, customer profiles, prospective customer lists, information regarding its
customers or principles, accounts receivable and payable ledgers, financial and
other records of the Company or its affiliates, and other similar matters (all
such information being hereinafter referred to as "CONFIDENTIAL INFORMATION").
Employee further acknowledges and agrees that the Confidential Information is of
great value to the Company and its affiliates and that the restrictions and
agreements contained in this Agreement are reasonably necessary to protect the
Confidential Information and the goodwill of the Company. Accordingly, Employee
hereby agrees that:

              (a)  Employee will hold in strictest confidence and will not,
         during the period he is employed by the Company or at any time
         thereafter, directly or indirectly, except in connection with
         Employee's performance of his duties as an employee, or as otherwise
         authorized by the Company for the benefit of the Company, divulge to
         any person, firm, corporation, limited liability company, or
         organization, other than the Company (hereinafter

<PAGE>

         referred to as "THIRD PARTIES"), or use or cause or authorize any Third
         parties to use, the Confidential Information, except as required by
         law; and

              (b)  Upon the termination of his employment term for any reason
         whatsoever, Employee shall deliver or cause to be delivered to the
         Company any and all Confidential Information, including drawings,
         notebooks, keys, data and other documents and materials belonging to
         the Company or its affiliates which is in his possession or under his
         control relating to the Company or its affiliates, or the Business of
         the Company (as defined herein), regardless of the medium upon which it
         is stored, and will deliver to the Company upon such termination of
         employment any other property of the Company or its affiliates which is
         in his possession or under his control.

         2.   INVENTIONS.

              (a)  INVENTIONS RETAINED AND LICENSED. Attached hereto, as Exhibit
         A, is a list describing all inventions, original works of authorship,
         developments, improvements, and trade secrets which were made by
         Employee prior to his employment with the Company (collectively
         referred to as "Prior Inventions"), which belong to Employee, which
         relate to the Company's business, products or research and development,
         and which are not assigned to the Company hereunder; or, if no such
         list is attached, the Employee represents that there are no such Prior
         Inventions. Prior to the Company incorporating a Prior Invention into a
         Company product, process, marketing plan, or website, the Company and
         Employee shall negotiate a license to use the Prior Invention.

              (b)  ASSIGNMENT OF INVENTIONS. Employee agrees that he will
         promptly make full written disclosure to the Company, will hold in
         trust for the sole right and benefit of the Company, and hereby assigns
         to the Company, or its designee, all his right, title and interest in
         and to any and all inventions, original works of authorship,
         developments, concepts, improvements or trade secrets, whether or not
         patentable or registrable under copyright or similar laws, which
         Employee may solely or jointly conceive or develop or reduce to
         practice, or cause to be conceived or developed or reduced to practice,
         during his employment with the Company (collectively referred to as
         "Inventions"). Employee further acknowledges that all original works or
         authorship which are made by him (solely or jointly with others) within
         the scope of and during the period of his employment with the Company
         and which are protectable by copyright are "works made for hire," as
         that term is defined in the United States Copyright Act.
         Notwithstanding anything to the contrary contained herein, to the
         extent Employee develops an Invention or process in his spare time,
         while off the Company premises, in an area not related to the Company's
         lines of business ("Retained Inventions") then the Company shall have
         no rights in such Retained Inventions.

              (c)  MAINTENANCE OF RECORDS. Employee agrees to keep and maintain
         adequate and current written records of all Inventions made by Employee
         (solely or jointly with others) during the term of his employment with
         the Company. The records will be in the

                                      2
<PAGE>

         form of notes, sketches, drawings, and any other format that may be
         specified by the Company. The records will be available to and remain
         the sole property of the Company at all times, with the exception of
         Retained Inventions.

              (d)  PATENT AND COPYRIGHT REGISTRATIONS. Employee agrees to assist
         the Company, or its designee, at the Company's expense, in every proper
         way to secure the Company's rights in the Inventions and any
         copyrights, patents, mask work rights or other intellectual property
         rights relating thereto in any and all countries, including the
         disclosure to the Company of all pertinent information and data with
         respect thereto, the execution of all applications, specifications,
         oaths, assignments and all other instruments which the Company shall
         deem necessary in order to apply for and obtain such rights and in
         order to assign and convey to the Company, its successors, assigns and
         nominees the sole and exclusive rights, title and interest in and to
         such Inventions, and any copyrights, patents, mask work rights or other
         intellectual property rights relating thereto. Employee further agrees
         that his obligation to execute or cause to be executed, when it is in
         his power to do so, any such instrument or papers shall continue after
         the termination of this Agreement. If the Company is unable because of
         Employee's mental or physical incapacity or for any other reason to
         secure Employee's signature to apply for or pursue any application for
         any United States or foreign patents or copyright registrations
         covering Inventions or original works of authorship assigned to the
         Company as above, then Employee hereby irrevocably designates and
         appoints the Company and its duly authorized officers and agents as his
         agent and attorney in fact, to act for and in his behalf and stead to
         execute and file any such applications and to do all other lawfully
         permitted acts to further the prosecution and issuance of letters
         patent or copyright registrations thereon with the same legal force and
         effect as if executed by Employee. The foregoing shall not apply to
         Retained Inventions.

         3.   NON-COMPETITION COVENANT. Employee acknowledges that the covenants
set forth in this SECTION 3 are reasonable in scope and essential to the
preservation of the Business of the Company. Employee also acknowledges that the
enforcement of the covenants set forth in this SECTION 3 will not preclude
Employee from being gainfully employed in such manner and to the extent as to
provide a standard of living for himself, the members of his family and the
others dependent upon his of at least the level to which he and they have become
accustomed and may expect. In addition, Employee acknowledges that the Company
has obtained an advantage over its competitors as a result of its name, location
and reputation that is characterized by near permanent relationships with
principals, suppliers and other contacts which it has developed at great
expense. Furthermore, Employee acknowledges that competition by him following
the termination of his employment would impair the operation of the Company
beyond that which would arise from the competition of an unrelated third party
with similar skills. Employee shall not, during the period he is employed by the
Company and for one year from the date of termination of his employment (the
"RESTRICTED PERIOD"), directly or indirectly, engage in or become directly or
indirectly interested in any proprietorship, partnership, firm, trust, company,
limited liability company or other entity (whether as owner, partner, lessor,
licensor, trustee, beneficiary, stockholder, member, or otherwise) that competes
with the Company or its affiliates, in the Business of the Company (as defined
herein)

                                       3
<PAGE>

in the Restricted Territory (as defined herein); PROVIDED, HOWEVER, that nothing
set forth in this SECTION 3 shall prohibit Employee from owning not in excess of
5% in the aggregate of any class of capital stock of any corporation if such
stock is publicly traded and listed on any national or regional stock exchange
or reported on the National Association of Securities Dealers Automated
Quotations. For purposes of this Agreement, (i) the term "BUSINESS OF THE
COMPANY" shall mean being engaged in operating an e-commerce site that offers
(1) gift delivery and promotional services; and (2) services to producers,
distributors, wholesalers, retailers, taverns, nightclubs, restaurants and
others who purchase, manufacture, sell and distribute products involving liquor,
wine, spirits or any other alcholic beverage, and such other products as the
Company may handle at the time of Employee's termination; and (ii) the term
"RESTRICTED TERRITORY" means any state in the United States of America. The
Employee specifically acknowledges that the Business of the Company is not
naturally restricted by any geographic boundaries.

         4.   NON-SOLICITATION COVENANT. Employee hereby covenants and agrees
that during the Restricted Period, he shall not directly or indirectly induce,
attempt to induce or hire any employee (or any person who was an employee during
the year preceding the date of any solicitation) of the Company or its
affiliates to leave the employment of the Company or its affiliates, or in any
way interfere with the relationship between any such employee of the Company or
its affiliates. Employee hereby further covenants and agrees that during the
Restricted Period he shall not directly or indirectly, solicit, interfere with,
or endeavor to entice away from the Company, any person, firm, corporation,
limited liability company or other entity that is a manufacturer, retailer,
wholesaler, distributor, or other person who is a part of the Company's network
of business who use the Company's services.

         5.   REMEDIES.

              (a)  INJUNCTIVE RELIEF. Employee expressly acknowledges and agrees
         that the Business of the Company is highly competitive and that a
         violation of any of the provisions of SECTIONS 1, 2, 3 AND 4 would
         cause immediate and irreparable harm, loss and damage to the Company
         not adequately compensable by a monetary award. Employee further
         acknowl edges and agrees that the time periods and territorial areas
         provided for herein are the minimum necessary to adequately protect the
         Confidential Information/Inventions and Business of the Company.
         Without limiting any of the other remedies available to the Company, at
         law or in equity, or the Company's right or ability to collect money
         damages, Employee agrees that any actual or threatened violation of any
         of the provisions of SECTIONS 1, 2, 3 AND 4 may be restrained or
         enjoined by any court of competent jurisdiction, and that a temporary
         restraining order or emergency, preliminary or final injunction may be
         issued in any court of competent jurisdiction, without notice and
         without bond.

              (b)  ENFORCEMENT. It is the desire of the parties that the
         provisions of SECTIONS 1, 2, 3 AND 4 be enforced to the fullest extent
         permissible under the laws and public policies in each jurisdiction in
         which enforcement might be sought. Accordingly, if any particular
         portion of SECTIONS 1, 2, 3 AND 4 shall ever be adjudicated as invalid
         or unenforceable, or if

                                      4
<PAGE>

         the application thereof to any party or circumstance shall be
         adjudicated to be prohibited by or invalidated by such laws or public
         policies, such section or sections shall be (i) deemed amended to
         delete therefrom such portions so adjudicated or (ii) modified as
         determined appropriate by such a court, such deletions or modifications
         to apply only with respect to the operation of such section or sections
         in the particular jurisdictions so adjudicating on the parties and
         under the circumstances as to which so adjudicated.

              (c)  LEGAL FEES. Employee shall reimburse the Company for all
         reasonable costs and expenses, including but not limited to, attorney
         fees, incurred by the Company in connection with the enforcement of the
         provisions set forth in this Agreement if the Company prevails.

         6.   ASSIGNMENT AND SUCCESSION. The rights and obligations of the
parties under this Agreement shall inure to the benefit of and be binding upon
their successors and assigns.

         7.   APPLICABLE LAW. The parties agree that this Agreement shall be
governed by, interpreted and construed in accordance with the laws of the State
of Illinois.

         8.   ENTIRE AGREEMENT; AMENDMENTS. This Agreement and the agreements
referred to herein or therein contain the entire understanding of the parties
hereto with regard to the subject matter contained herein, and supersedes all
prior agreements, understandings or intents between the parties hereto. This
Agreement may be amended, modified or supplemented only pursuant to SECTION 5(A)
or by a writing signed by the parties hereto.

         9.   WAIVERS. Any term of this Agreement may be waived by the party or
parties entitled to the benefits thereof but only by a writing executed by such
party. No waiver or any breach of this Agreement shall be held to constitute a
waiver of any other or subsequent breach.

         10.  COUNTERPARTS. This Agreement may be executed in one or more
counterparts, each of which shall be considered an original instrument, but all
of which shall be considered one and the same agreement, and shall become
binding when one or more counterparts have been signed and delivered by each of
the parties hereto.

         11.  RECITALS: The Recitals set forth above are hereby incorporated in
and made a part hereof by this reference.

                                      5
<PAGE>

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

                                               LIQUOR.COM, INC.
                                               a Delaware corporation

                                               By: /s/ Scott B. Clark
                                                  -----------------------------
                                                  Scott B. Clank
                                                  Chief Financial Officer

                                               /s/ Barry Grieff
                                               --------------------------------
                                               Barry Grieff

                                      6
<PAGE>

                                    EXHIBIT A

                                PRIOR INVENTIONS

         Employee has developed a business plan for a concept called "Bridge
Games," which Employee has shown to the Company. Among other things, this
business plan described an interactive game involving a Carribean Treasure Hunt.
All concepts, original works of authorship and trade secrets contained in the
business plan were made and developed by Employee prior to Employee becoming an
execute officer of the Company.

                                      7
<PAGE>

                                   EXHIBIT B

                                   LIQUOR.COM

                                 2000 STOCK PLAN

                             STOCK OPTION AGREEMENT

         Unless otherwise defined herein, the terms defined in the 2000 Stock
Plan (the "Plan") shall have the same defined meanings in this Stock Option
Agreement.

I.       NOTICE OF GRANT

         Barry Grieff
         Liquor.com, Inc.
         4205 West Irving Park Road
         Chicago, IL  60641

         The undersigned Optionee has been granted an Option to purchase Common
Stock of the Company, subject to the terms and conditions of the Plan and this
Option Agreement, as follows:

Grant Number                             Grieff-1

Date of Grant                            March 1, 2000

Vesting Commencement Date                March 1, 2000

Exercise Price per Share                 $3.52

Total Number of Shares Granted           As provided for in Addendum

Total Exercise Price                     $  As provided for in Addendum

Type of Option:                          Incentive Stock Option

Term/Expiration Date:                    March 1, 2010

<PAGE>

VESTING SCHEDULE:

         This Option shall be exercisable, in whole or in part, according to the
following vesting schedule:

         AS PROVIDED IN ADDENDUM.

TERMINATION PERIOD:

         This Option shall be exercisable for two years after Optionee ceases to
be a Service Provider. In no event may Optionee exercise this Option after the
Term/Expiration Date as provided above.

II.      AGREEMENT

         1.   GRANT OF OPTION. The Plan Administrator of the Company hereb
grants to the Optionee named in the Notice of Grant (the "Optionee"), an option
(the "Option") to purchase the number of Shares set forth in the Notice of
Grant, at the exercise price per Share set forth in the Notice of Grant (the
"Exercise Price"), and subject to the terms and conditions of the Plan, which is
incorporated herein by reference. Subject to Section 14(c) of the Plan, in the
event of a conflict between the terms and conditions of the Plan and this Option
Agreement, the terms and conditions of the Plan shall prevail.

         If designated in the Notice of Grant as an Incentive Stock Option
("ISO"), this Option is intended to qualify as an Incentive Stock Option as
defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds
the $100,000 rule of Code Section 422(d), this Option shall be treated as a
Nonstatutory Stock Option ("NSO").

         2.   EXERCISE OF OPTION.

              (a)  RIGHT TO EXERCISE. This Option shall be exercisable during
         its term in accordance with the Vesting Schedule set out in the Notice
         of Grant and with the applicable provisions of the Plan and this Option
         Agreement.

              (b)  METHOD OF EXERCISE. This Option shall be exercisable by
         delivery of an exercise notice in the form attached as EXHIBIT A (the
         "Exercise Notice") which shall state the election to exercise the
         Option, the number of Shares with respect to which the Option is being
         exercised, and such other representations and agreements as may be
         required by the Company. The Exercise Notice shall be accompanied by
         payment of the aggregate Exercise Price as to all Exercised Shares.
         This Option shall be deemed to be exercised upon receipt by the Company
         of such fully executed Exercise Notice accompanied by the aggregate
         Exercise Price.

                                       2

<PAGE>

         No Shares shall be issued pursuant to the exercise of an Option unless
such issuance and such exercise complies with Applicable Laws. Assuming such
compliance, for income tax purposes the Shares shall be considered transferred
to the Optionee on the date on which the Option is exercised with respect to
such Shares.

         3.   OPTIONEE'S REPRESENTATIONS. In the event the Shares have not been
registered under the Securities Act of 1933, as amended, at the time this Option
is exercised, the Optionee shall, if required by the Company, concurrently with
the exercise of all or any portion of this Option, deliver to the Company his or
her Investment Representation Statement in the form attached hereto as EXHIBIT
B. The Company shall use its reasonable best efforts to register the Shares
pursuant to a Form S-8 as soon as is reasonably practicable, but in no event
less than one hundred and twenty (120) days after becoming qualified to use a
Form S-8.

         4.   LOCK-UP PERIOD. Optionee hereby agrees that, if so requested by
the Company or any representative of the underwriters (the "Managing
Underwriter") in connection with any registration of the offering of any
securities of the Company under the Securities Act, Optionee shall not sell or
otherwise transfer any Shares or other securities of the Company during the
180-day period (or such other period as may be requested in writing by the
Managing Underwriter and agreed to in writing by the Company) (the "Market
Standoff Period") following the effective date of a registration statement of
the Company filed under the Securities Act. Such restriction shall apply only to
the first registration statement of the Company to become effective under the
Securities Act that includes securities to be sold on behalf of the Company to
the public in an underwritten public offering under the Securities Act. The
Company may impose stop-transfer instructions with respect to securities subject
to the foregoing restrictions until the end of such Market Standoff Period.

         5.   METHOD OF PAYMENT. Payment of the aggregate Exercise Price shall
be by any of the following, or a combination thereof, at the election of the
Optionee:

              (a)  cash or check;

              (b)  surrender of other Shares which, (i) in the case of Shares
         acquired upon exercise of an option, have been owned by the Optionee
         for more than six (6) months on the date of surrender, and (ii) have a
         Fair Market Value on the date of surrender equal to the aggregate
         Exercise Price of the Exercised Shares; or

              (c)  a two-year, non-interest bearing promissory note in a form
         the Company hereafter approves.

         6.   RESTRICTIONS ON EXERCISE. This Option may not be exercised until
such time as the Plan has been approved by the shareholders of the Company, or
if the issuance of such Shares upon

                                       3

<PAGE>

such exercise or the method of payment of consideration for such shares would
constitute a violation of any Applicable Law.

         7.   NON-TRANSFERABILITY OF OPTION. This Option may not be transferred
in any manner otherwise than by will or by the laws of descent or distribution
and may be exercised during the lifetime of Optionee only by Optionee. The terms
of the Plan and this Option Agreement shall be binding upon the executors,
administrators, heirs, successors and assigns of the Optionee.

         8.   TERM OF OPTION. This Option may be exercised only within the term
set out in the Notice of Grant, and may be exercised during such term only in
accordance with the Plan and the terms of this Option.

         9.   TAX CONSEQUENCES. Set forth below is a brief summary as of the
date of this Option of some of the federal tax consequences of exercise of
this Option and disposition of the Shares. THIS SUMMARY IS NECESSARILY
INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. THE
OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING THIS OPTION OR
DISPOSING OF THE SHARES.

              (a)  EXERCISE OF NSO. There may be a regular federal income tax
         liability upon the exercise of an NSO. The Optionee will be treated as
         having received compensation income (taxable at ordinary income tax
         rates) equal to the excess, if any, of the Fair Market Value of the
         Shares on the date of exercise over the Exercise Price. If Optionee is
         an Employee or a former Employee, the Company will be required to
         withhold from Optionee's compensation or collect from Optionee and pay
         to the applicable taxing authorities an amount in cash equal to a
         percentage of this compensation income at the time of exercise, and may
         refuse to honor the exercise and refuse to deliver Shares if such
         withholding amounts are not delivered at the time of exercise.

              (b)  EXERCISE OF ISO. If this Option qualifies as an ISO, there
         will be no regular federal income tax liability upon the exercise of
         the Option, although the excess, if any, of the Fair Market Value of
         the Shares on the date of exercise over the Exercise Price will be
         treated as an adjustment to the alternative minimum tax for federal tax
         purposes and may subject the Optionee to the alternative minimum tax in
         the year of exercise.

              (c)  DISPOSITION OF SHARES. In the case of an NSO, if Shares are
         held for at least one year, any gain realized on disposition of the
         Shares will be treated as long-term capital gain for federal income tax
         purposes. In the case of an ISO, if Shares transferred pursuant to the
         Option are held for at least one year after exercise and of at least
         two years after the Date of Grant, any gain realized on disposition of
         the Shares will also be treated as long-term capital gain for federal
         income tax purposes. If Shares purchased under an ISO are disposed of
         within one year after exercise or two years after the Date of Grant,
         any gain realized on

                                       4

<PAGE>

         such disposition will be treated as compensation income (taxable at
         ordinary income rates) to the extent of the difference between the
         Exercise Price and the lesser of (1) the Fair Market Value of the
         Shares on the date of exercise, or (2) the sale price of the Shares.
         Any additional gain will be taxed as capital gain, short-term or
         long-term depending on the period that the ISO Shares were held.

              (d)  NOTICE OF DISQUALIFYING DISPOSITION OF ISO SHARES. If the
         Option granted to Optionee herein is an ISO, and if Optionee sells or
         otherwise disposes of any of the Shares acquired pursuant to the ISO on
         or before the later of (1) the date two years after the Date of Grant,
         or (2) the date one year after the date of exercise, the Optionee shall
         immediately notify the Company in writing of such disposition. Optionee
         agrees that Optionee may be subject to income tax withholding by the
         Company on the compensation income recognized by the Optionee.

         10.  ENTIRE AGREEMENT; GOVERNING LAW. The Plan is incorporated herein
by reference. The Plan and this Option Agreement constitute the entire agreement
of the parties with respect to the subject matter hereof and supersede in their
entirety all prior undertakings and agreements of the Company and Optionee with
respect to the subject matter hereof, and may not be modified adversely to the
Optionee's interest except by means of a writing signed by the Company and
Optionee. This agreement is governed by the internal substantive laws but not
the choice of law rules of the state of Delaware.

         11.  NO GUARANTEE OF CONTINUED SERVICE. OPTIONEE ACKNOWLEDGES AND
AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE
VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED
PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD,
FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH OPTIONEE'S
RIGHT OR THE COMPANY'S RIGHT TO TERMINATE OPTIONEE'S RELATIONSHIP AS A SERVICE
PROVIDER AS PROVIDED IN OPTIONEE'S EMPLOYMENT AGREEMENT.

         Optionee acknowledges receipt of a copy of the Plan and represents that
he or she is familiar with the terms and provisions thereof, and hereby accepts
this Option subject to all of the terms and provisions thereof. Optionee has
reviewed the Plan and this Option in their entirety, has had an opportunity to
obtain the advice of counsel prior to executing this Option and fully
understands all provisions of the Option. Optionee hereby agrees to accept as
binding, conclusive and final all decisions or interpretations of the
Administrator upon any questions arising under the Plan or this

                                       5

<PAGE>

Option. Optionee further agrees to notify the Company upon any change in the
residence address indicated below.

OPTIONEE                                     LIQUOR.COM, INC.

/s/ Barry Grieff
----------------
Signature                                    By:  /s/ Scott B. Clark
                                                  ------------------
                                                      Scott B. Clark
BARRY GRIEFF                                      Chief Financial Officer
Print Name

Residence Address

                                       6

<PAGE>

                                    EXHIBIT A

                                 2000 STOCK PLAN

                                 EXERCISE NOTICE

Liquor.com, Inc.
4205 West Irving Park Road
Chicago, IL  60641

Attention:  [TITLE]

         1.   EXERCISE OF OPTION. Effective as of today, ___________, ____, the
undersigned ("Optionee") hereby elects to exercise Optionee's option to purchase
_________ shares of the Common Stock (the "Shares") of Liquor.com, Inc. (the
"Company") under and pursuant to the 2000 Stock Plan (the "Plan") and the Stock
Option Agreement dated ________, (the "Option Agreement").

         2.   DELIVERY OF PAYMENT. Purchaser herewith delivers to the Company
the full purchase price of the Shares, as set forth in the Option Agreement.

         3.   REPRESENTATIONS OF OPTIONEE. Optionee acknowledges that Optionee
has received, read and understood the Plan and the Option Agreement and agrees
to abide by and be bound by their terms and conditions.

         4.   RIGHTS AS SHAREHOLDER. Until the issuance of the Shares (as
evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company), no right to vote or receive dividends
or any other rights as a shareholder shall exist with respect to the Optioned
Stock, notwithstanding the exercise of the Option. The Shares shall be issued to
the Optionee as soon as practicable after the Option is exercised. No adjustment
shall be made for a dividend or other right for which the record date is prior
to the date of issuance except as provided in Section 12 of the Plan.

         5.   COMPANY'S RIGHT OF FIRST REFUSAL. Before any Shares held by
Optionee or any transferee (either being sometimes referred to herein as the
"Holder") may be sold or otherwise transferred (including transfer by gift or
operation of law), the Company or its assignee(s) shall have a right of first
refusal to purchase the Shares on the terms and conditions set forth in this
Section (the "Right of First Refusal").

              (a)  NOTICE OF PROPOSED TRANSFER. The Holder of the Shares shall
         deliver to the Company a written notice (the "Notice") stating: (i) the
         Holder's bona fide intention to sell

<PAGE>

         or otherwise transfer such Shares; (ii) the name of each proposed
         purchaser or other transferee ("Proposed Transferee"); (iii) the number
         of Shares to be transferred to each Proposed Transferee; and (iv) the
         bona fide cash price or other consideration for which the Holder
         proposes to transfer the Shares (the "Offered Price"), and the Holder
         shall offer the Shares at the Offered Price to the Company or its
         assignee(s).

              (b)  EXERCISE OF RIGHT OF FIRST REFUSAL. At any time within thirty
         (30) days after receipt of the Notice, the Company and/or its
         assignee(s) may, by giving written notice to the Holder, elect to
         purchase all, but not less than all, of the Shares proposed to be
         transferred to any one or more of the Proposed Transferees, at the
         purchase price determined in accordance with subsection (c) below.

              (c)  PURCHASE PRICE. The purchase price ("Purchase Price") for the
         Shares purchased by the Company or its assignee(s) under this Section
         shall be the Offered Price. If the Offered Price includes consideration
         other than cash, the cash equivalent value of the non-cash
         consideration shall be determined by the Board of Directors of the
         Company in good faith.

              (d)  PAYMENT. Payment of the Purchase Price shall be made, at the
         option of the Company or its assignee(s), in cash (by check), by
         cancellation of all or a portion of any outstanding indebtedness of the
         Holder to the Company (or, in the case of repurchase by an assignee, to
         the assignee), or by any combination thereof within 30 days after
         receipt of the Notice or in the manner and at the times set forth in
         the Notice.

              (e)  HOLDER'S RIGHT TO TRANSFER. If all of the Shares proposed in
         the Notice to be transferred to a given Proposed Transferee are not
         purchased by the Company and/or its assignee(s) as provided in this
         Section, then the Holder may sell or otherwise transfer such Shares to
         that Proposed Transferee at the Offered Price or at a higher price,
         provided that such sale or other transfer is consummated within 120
         days after the date of the Notice, that any such sale or other transfer
         is effected in accordance with any applicable securities laws and that
         the Proposed Transferee agrees in writing that the provisions of this
         Section shall continue to apply to the Shares in the hands of such
         Proposed Transferee. If the Shares described in the Notice are not
         transferred to the Proposed Transferee within such period, a new Notice
         shall be given to the Company, and the Company and/or its assignees
         shall again be offered the Right of First Refusal before any Shares
         held by the Holder may be sold or otherwise transferred.

              (f)  EXCEPTION FOR CERTAIN FAMILY TRANSFERS. Anything to the
         contrary contained in this Section notwithstanding, the transfer of any
         or all of the Shares during the Optionee's lifetime or on the
         Optionee's death by will or intestacy to the Optionee's immediate
         family or a trust for the benefit of the Optionee's immediate family
         shall be exempt from the

                                       2

<PAGE>

         provisions of this Section. "Immediate Family" as used herein shall
         mean spouse, lineal descendant or antecedent, father, mother, brother
         or sister. In such case, the transferee or other recipient shall
         receive and hold the Shares so transferred subject to the provisions
         of this Section, and there shall be no further transfer of such Shares
         except in accordance with the terms of this Section.

              (g)  TERMINATION OF RIGHT OF FIRST REFUSAL. The Right of First
         Refusal shall terminate as to any Shares upon the first sale of Common
         Stock of the Company to the general public pursuant to a registration
         statement filed with and declared effective by the Securities and
         Exchange Commission under the Securities Act of 1933, as amended.

         6.   TAX CONSULTATION. Optionee understands that Optionee may suffer
adverse tax consequences as a result of Optionee's purchase or disposition of
the Shares. Optionee represents that Optionee has consulted with any tax
consultants Optionee deems advisable in connection with the purchase or
disposition of the Shares and that Optionee is not relying on the Company for
any tax advice.

         7.   RESTRICTIVE LEGENDS AND STOP-TRANSFER ORDERS.

              (a)  LEGENDS. Optionee understands and agrees that the Company
         shall cause the legends set forth below or legends substantially
         equivalent thereto, to be placed upon any certificate(s) evidencing
         ownership of the Shares together with any other legends that may be
         required by the Company or by state or federal securities laws:

              THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER
              THE SECURITIES ACT OF 1933 (THE "ACT") AND MAY NOT BE OFFERED,
              SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND
              UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COMPANY
              COUNSEL SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH
              OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE
              THEREWITH.

              THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN
              RESTRICTIONS ON TRANSFER AND A RIGHT OF FIRST REFUSAL HELD BY THE
              ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE EXERCISE NOTICE
              BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY
              OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER.
              SUCH TRANSFER RESTRICTIONS AND RIGHT OF FIRST REFUSAL ARE BINDING
              ON TRANSFEREES OF THESE SHARES.

                                       3

<PAGE>

              (b)  STOP-TRANSFER NOTICES. Optionee agrees that, in order to
         ensure compliance with the restrictions referred to herein, the Company
         may issue appropriate "stop transfer" instructions to its transfer
         agent, if any, and that, if the Company transfers its own securities,
         it may make appropriate notations to the same effect in its own
         records.

              (c)  REFUSAL TO TRANSFER. The Company shall not be required (i) to
         transfer on its books any Shares that have been sold or otherwise
         transferred in violation of any of the provisions of this Exercise
         Notice or (ii) to treat as owner of such Shares or to accord the right
         to vote or pay dividends to any purchaser or other transferee to whom
         such Shares shall have been so transferred.

         8.   SUCCESSORS AND ASSIGNS. The Company may assign any of its rights
under this Exercise Notice to single or multiple assignees, and this Exercise
Notice shall inure to the benefit of the successors and assigns of the Company.
Subject to the restrictions on transfer herein set forth, this Exercise Notice
shall be binding upon Optionee and his or her heirs, executors, administrators,
successors and assigns.

         9.   INTERPRETATION. Any dispute regarding the interpretation of this
Exercise Notice shall be submitted by Optionee or by the Company forthwith to
the Administrator which shall review such dispute at its next regular meeting.
The resolution of such a dispute by the Administrator shall be final and binding
on all parties.

         10.  GOVERNING LAW; SEVERABILITY. This Exercise Notice is governed by
the internal substantive laws but not the choice of law rules, of the state of
Delaware.

         11.  ENTIRE AGREEMENT. The Plan and Option Agreement are incorporated
herein by reference. This Exercise Notice, the Plan, the Option Agreement and
the Investment Representation Statement constitute the entire agreement of the
parties with respect to the subject matter hereof and supersede in their
entirety all prior undertakings and agreements of the Company and Optionee with

                                       4

<PAGE>

respect to the subject matter hereof, and may not be modified adversely to the
Optionee's interest except by means of a writing signed by the Company and
Optionee.

Submitted by:                                 Accepted by:
OPTIONEE                                      LIQUOR.COM, INC.

Signature                                     By

Print Name                                    Title

ADDRESS:                                      ADDRESS:

                                              Date Received

                                       5

<PAGE>

                                    EXHIBIT B

                       INVESTMENT REPRESENTATION STATEMENT

OPTIONEE:

COMPANY:      LIQUOR.COM, INC.

SECURITY:     COMMON STOCK

AMOUNT:

DATE:

         In connection with the purchase of the above-listed Securities, the
undersigned Optionee represents to the Company the following:

         1.   Optionee is aware of the Company's business affairs and financial
condition and has acquired sufficient information about the Company to reach an
informed and knowledgeable decision to acquire the Securities. Optionee is
acquiring these Securities for investment for Optionee's own account only and
not with a view to, or for resale in connection with, any "distribution" thereof
within the meaning of the Securities Act of 1933, as amended (the "Securities
Act").

         2.   Optionee acknowledges and understands that the Securities
constitute "restricted securities" under the Securities Act and have not been
registered under the Securities Act in reliance upon a specific exemption
therefrom, which exemption depends upon, among other things, the bona fide
nature of Optionee's investment intent as expressed herein. In this connection,
Optionee understands that, in the view of the Securities and Exchange
Commission, the statutory basis for such exemption may be unavailable if
Optionee's representation was predicated solely upon a present intention to hold
these Securities for the minimum capital gains period specified under tax
statutes, for a deferred sale, for or until an increase or decrease in the
market price of the Securities, or for a period of one year or any other fixed
period in the future. Optionee further understands that the Securities must be
held indefinitely unless they are subsequently registered under the Securities
Act or an exemption from such registration is available. Optionee further
acknowledges and understands that the Company is under no obligation to register
the Securities. Optionee understands that the certificate evidencing the
Securities will be imprinted with a legend which prohibits the transfer of the
Securities unless they are registered or such registration is not required in
the opinion of counsel satisfactory to the Company, and any other legend
required under applicable state securities laws.

         3.   Optionee is familiar with the provisions of Rule 701 and Rule 144,
each promulgated under the Securities Act, which, in substance, permit limited
public resale of "restricted securities"

                                       6

<PAGE>

acquired, directly or indirectly from the issuer thereof, in a non-public
offering subject to the satisfaction of certain conditions. Rule 701 provides
that if the issuer qualifies under Rule 701 at the time of the grant of the
Option to the Optionee, the exercise will be exempt from registration under the
Securities Act. In the event the Company becomes subject to the reporting
requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934,
ninety (90) days thereafter (or such longer period as any market stand-off
agreement may require) the Securities exempt under Rule 701 may be resold,
subject to the satisfaction of certain of the conditions specified by Rule 144,
including: (1) the resale being made through a broker in an unsolicited
"broker's transaction" or in transactions directly with a market maker (as said
term is defined under the Securities Exchange Act of 1934); and, in the case of
an affiliate, (2) the availability of certain public information about the
Company, (3) the amount of Securities being sold during any three month period
not exceeding the limitations specified in Rule 144(e), and (4) the timely
filing of a Form 144, if applicable.

         In the event that the Company does not qualify under Rule 701 at the
time of grant of the Option, then the Securities may be resold in certain
limited circumstances subject to the provisions of Rule 144, which requires the
resale to occur not less than one year after the later of the date the
Securities were sold by the Company or the date the Securities were sold by an
affiliate of the Company, within the meaning of Rule 144; and, in the case of
acquisition of the Securities by an affiliate, or by a non-affiliate who
subsequently holds the Securities less than two years, the satisfaction of the
conditions set forth in sections (1), (2), (3) and (4) of the paragraph
immediately above.

         4.   Optionee further understands that in the event all of the
applicable requirements of Rule 701 or 144 are not satisfied, registration under
the Securities Act, compliance with Regulation A, or some other registration
exemption will be required; and that, notwithstanding the fact that Rules 144
and 701 are not exclusive, the Staff of the Securities and Exchange Commission
has expressed its opinion that persons proposing to sell private placement
securities other than in a registered offering and otherwise than pursuant to
Rules 144 or 701 will have a substantial burden of proof in establishing that an
exemption from registration is available for such offers or sales, and that such
persons and their respective brokers who participate in such transactions do so
at their own risk. Optionee understands that no assurances can be given that any
such other registration exemption will be available in such event.

                                           Signature of Optionee:

Date     ,

                                       7

<PAGE>

                                    ADDENDUM
                                       TO
                             STOCK OPTION AGREEMENT
                                     BETWEEN
                                LIQUOR.COM, INC.
                                       AND
                                  BARRY GRIEFF

         This Addendum is entered into as of this 1st day of March between Barry
Grieff ("Optionee") and Liquor.com, Inc., a Delaware corporation (the
"Company"), and is made a part of that certain Stock Option Agreement of even
date hereof (the "Stock Option Agreement") between the Optionee and the Company.
To the extent of any conflict between the provisions of the Stock Option
Agreement and this Addendum, this Addendum shall control. Capitalized terms used
herein and not otherwise defined shall have the meaning assigned to them in the
Company's 2000 Stock Option Plan and the Stock Option Agreement. Reference is
hereby also made to an Employment Agreement dated of even date herewith between
Optionee and the Company (the "Employment Agreement").

         1.   TOTAL NUMBER OF SHARES GRANTED. The Company has granted Optionee
an Option to purchase up to that number of Shares (the "Total Share Amount")
equal to the product of (A) seven percent (7%) multiplied by (B) the Outstanding
Share Amount (as defined below) at any time outstanding through and including a
Financing Event (as defined in the Employment Agreement). The number of shares
for which this Option is exercisable shall automatically adjust, from time to
time, in accordance with the foregoing formula from the date hereof until the
closing date of a Financing Event. Upon the closing of a Financing Event, the
Company shall fix the number of Shares for which this Option is exercisable and
issue a replacement Stock Option Agreement in exchange for this Stock Option
Agreement. As of any determination date, the "Outstanding Share Amount" equals
the aggregate number of shares of Common Stock of the Company, calculated on a
fully diluted basis after giving effect to all outstanding options (vested or
unvested), warrants and securities convertible into shares of Common Stock, but
excluding the number of Shares for which this Option is exercisable, as of any
such determination date.

         2.   TOTAL EXERCISE PRICE. Total Exercise Price shall equal the Total
Share Amount multiplied by $3.52.

         3.   VESTING SCHEDULE. The Shares shall vest under this Option as
follows:

              (a)  10.71% of the Total Share Amount shall vest as of the Grant
         Date;

              (b)  46.43% of the Total Share Amount shall vest during Optionee's
         employment with the Company in twenty-four (24) equal monthly
         installments beginning March 1, 2000,

                                       1

<PAGE>

         and on the first of each month thereafter (the Shares subject to
         vesting under this subsection are herein referred to as the "Initial
         Option Shares");

              (c)  14.29% of the Total Share Amount shall vest upon March 1,
         2002 (the "Second Year Option Shares");

              (d)  14.29% of the Total Share Amount shall vest upon the Company
         achieving the $8.0 million Target (as defined in the Employment
         Agreement) in accordance with the terms of the Employment Agreement;
         and

              (e)  14.29% of the Total Share Amount shall vest during the period
         beginning March 1, 2001 and ending March 1, 2002, in increments and
         upon achievement of performance targets, all as the Board of Directors
         and the Optionee may reasonably agree upon after the date hereof. The
         Board of Directors of the Company shall determine the vesting schedule
         pursuant to this section prior to March 1, 2001. The Company and
         Optionee shall immediately amend this Option upon such determination by
         the Board of Directors.

         Notwithstanding the foregoing, the Total Share Amount shall vest as
follows upon the following events:

              (f)  50% of the unvested Initial Option Shares and all of the
         Second Year Option Shares shall immediately vest upon a Change of
         Control (as defined below); and

              (g)  60% of the unvested Total Share amount shall immediately vest
         upon the Company terminating Optionee's employment without Cause,
         Optionee terminating his employment for Good Reason, or upon Optionee's
         death or Total Disability.

              (h)  To the extent not already vested as provided above, the
         balance of any unvested Initial Option Shares shall vest immediately
         upon the Company terminating Optionee's employment without cause or
         Optionee terminating his employment for Good Reason within twelve (12)
         months of a Change of Control.

         As used herein, "Change of Control" shall mean the (i) dissolution or
liquidation of Company or the consummation of any merger or consolidation in
which the holders of the voting stock of the Company before the transaction
control less than fifty percent (50%) of the voting power of the surviving
entity or a sale or other disposition of a majority of the equity interests of
the Company (other than a merger into a wholly-owned subsidiary) or a sale or
other disposition of all or substantially all of the Company's assets or (ii) a
majority of the members of the Board of Directors of Company being constituted
by individuals other than the five or seven person Board of Directors that is
put into place following the commencement of your employment. The term "Change
of Control" shall not be deemed to apply to a Financing Event.

                                       2

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have entered into this Addendum
as of the date set forth above.

OPTIONEE                                    LIQUOR.COM, INC.

/s/ Barry Grieff                            By:  /s/ Scott B. Clark
                                                 -------------------------
                                                     Scott B. Clark
                                                  Chief Financial Officer

                                       3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00012-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00012-of-00352.parquet"}]]