Document:

CONFIRMATION AND AMENDMENT OF
                 EQUITY INTEREST PLEDGE AND SECURITY AGREEMENT
                 ---------------------------------------------

         1. FrontLine Capital Group, a Delaware corporation ("Pledgor"),
delivered to Bankers Trust Company ("Pledgee") that certain Equity Interest
Pledge and Security Agreement dated as of May 31, 2000 (as the same may be
amended or otherwise modified from time to time, the "Pledge Agreement"). (All
capitalized terms used herein without definition and which are defined in the
Pledge Agreement are used herein with the meaning assigned to such terms in
the Pledge Agreement.)

         2. In order to induce Pledgee to execute and deliver that certain
Amended and Restated Revolving Line of Credit Agreement (as the same may be
amended or otherwise modified from time to time, the "Agreement") of even date
herewith by and between Pledgor and Pledgee, the Pledgor agrees to execute and
deliver this instrument.

         3. All references in the Pledge Agreement to the "Line of Credit
Agreement" shall hereafter refer to the Amended and Restated Revolving Line of
Credit Agreement of even date herewith between Pledgor and Pledgee, as the
same may be amended or otherwise modified from time to time.

         4. In addition to all obligations and liabilities included in the
"Obligations," the "Obligations" shall include all obligations and liabilities
of Pledgor to Pledgee under or in respect of the SWINC Application (as such
term is defined in the Agreement).

         5. PARAGRAPH 22(b) of the Pledge Agreement is hereby amended to
include the following immediately prior to the semicolon at the end thereof:
"or to make any loans pursuant to the Line of Credit Agreement and/or the
Note."

         6. PARAGRAPH 25(a) of the Pledge Agreement is hereby amended to read,
in its entirety, as follows:

            "(a) It shall also be an Event of Default if at any
         time (A) the following fraction exceeds 50%: (x) the Indebtedness of
         the Pledgor plus the allocable share of the Indebtedness of
         Controlled Subsidiaries over (y)(i) the fully diluted number of
         shares of common stock of the Pledgor multiplied by the average
         listed exchange price of such common stock over the preceding thirty
         (30) days plus (ii) the liquidation preference of preferred stock of
         the Pledgor plus (iii) the amount calculated in accordance with the
         preceding clause (x) or (B) the Indebtedness of the Pledgor exceeds
         $25,000,000; provided, however, that, for the purposes of this clause
         (B), the principal of and accrued and unpaid interest at any time
         outstanding on the Existing Facilities (as hereinafter defined) shall
         be excluded. "Existing Facilities" shall mean (i) that certain
         Amended and Restated Credit Agreement dated as of August 4, 1999
         between the Pledgor (formerly known as Reckson Service Industries,
         Inc.), as Borrower, and Reckson Operating Partnership, L.P., as
         Lender, relating to the operations of the Pledgor (formerly known as
         Reckson Service Industries, Inc.), (ii) that certain Amended and
         Restated Credit Agreement dated as of August 4, 1999 between the
         Pledgor (formerly known as Reckson Service Industries, Inc.), as
         Borrower, and Reckson Operating Partnership, L.P., as Lender,
         relating to the operation of Reckson Strategic Venture Partners, LLC,
         and (iii) that certain Amended and Restated Revolving Line of Credit
         Agreement dated September 11, 2000 between Pledgor, as borrower, and
         Pledgee, as lender, as such agreements are in effect on September 11,
         2000.

         7. Pledgor represents, confirms and acknowledges to Pledgee that
Pledgor has no defenses, set-offs, counterclaims or causes of action with
respect to the Pledge Agreement or any of the other instruments or documents
related thereto or any action previously taken or not taken by Pledgee with
respect thereto or with respect to any security interest, encumbrance, lien or
collateral in connection therewith and to the extent that any such defense,
set-off, counterclaim or cause of action exists without its knowledge, the
same is hereby waived and released to the fullest extent permitted by law.

         8. No waiver of any of the rights of Pledgee under the Pledge
Agreement and no modification, amendment or discharge of the Pledge Agreement
or of this Confirmation and Amendment of Equity Interest Pledge and Security
Agreement shall be deemed to be made by Pledgee unless the same shall be in
writing and duly signed by Pledgee and Pledgor. This Confirmation and
Amendment of Equity Interest Pledge and Security Agreement shall be binding
upon Pledgor, and its successors and assigns, and shall inure to the benefit
of Pledgee, its successors and assigns.

         9. This Confirmation and Amendment of Equity Interest Pledge and
Security Agreement may be signed in any number of separate counterparts, each
of which shall constitute an original instrument and all of which taken
together shall constitute one and the same instrument, with the same force and
effect as if the signatures of all the parties hereto were on a single
instrument.

        [The remainder of this page has been intentionally left blank.]

<PAGE>

         IN WITNESS WHEREOF, each of the undersigned have executed and
delivered this Confirmation and Amendment of Equity Interest Pledge and
Security Agreement as of the 8th day of September, 2000.

                                   PLEDGOR:

                                   FRONTLINE CAPITAL GROUP

                                   By___________________________________
                                     Name: _____________________________
                                     Title:_____________________________

Agreed and Accepted:

PLEDGEE:

BANKERS TRUST COMPANY

By: _______________________________
    Name: _____________________
    Title: ______________________<PAGE>

                 MORGAN STANLEY DEAN WITTER SELECT EQUITY TRUST
             THE COMPETITIVE EDGE BEST IDEAS PORTFOLIO SERIES 2000-4
                            REFERENCE TRUST AGREEMENT

     This Reference Trust Agreement dated October 23, 2000 between DEAN WITTER
REYNOLDS INC., as Depositor, and The Bank of New York, as Trustee, sets forth
certain provisions in full and incorporates other provisions by reference to the
document entitled "Dean Witter Select Equity Trust, Trust Indenture and
Agreement" (the "Basic Agreement") dated September 30, 1993, as amended. Such
provisions as are incorporated by reference constitute a single instrument (the
"Indenture").

                                WITNESSETH THAT:
                                ----------------

     In consideration of the premises and of the mutual agreements herein
contained, the Depositor and the Trustee agree as follows:

                                       I.

                     STANDARD TERMS AND CONDITIONS OF TRUST

     Subject to the provisions of Part II hereof, all the provisions contained
in the Basic Agreement are herein incorporated by reference in their entirety
and shall be deemed to be a part of this instrument as fully and to the same
extent as though said provisions had been set forth in full in this instrument
except that the Basic Agreement is hereby amended as follows:

          A. The first sentence of Section 2.01 is amended to add the following
     language at the end of such sentence: "and/or cash (or a letter of credit
     in lieu of cash) with instructions to the Trustee to purchase one or more
     of such Securities which cash (or cash in an amount equal to the face
     amount of the letter of credit), to the extent not used by the Trustee to
     purchase such Securities within the 90-day period following the first
     deposit of Securities in the Trust, shall be distributed to Unit Holders on
     the Distribution Date next following such 90-day period or such earlier
     date as the Depositor and the Trustee determine".

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                                      -2-

          B. Section 2.03 is amended to add the following to the end of the
     first paragraph thereof. The number of Units may be increased through a
     split of the Units or decreased through a reverse split thereof, as
     directed by the Depositor, which revised number of Units shall be recorded
     by Trustee on its books.

          C. The first sentence of Section 2.06 is amended to add the following
     language after "Securities"))": "and/or cash (or a letter of credit in lieu
     of cash) with instructions to the Trustee to purchase one or more
     Additional Securities which cash (or cash in an amount equal to the face
     amount of the letter of credit), to the extent not used by the Trustee to
     purchase such Additional Securities within the 90-day period following the
     first deposit of Securities in the Trust, shall be distributed to Unit
     Holders on the Distribution Date next following such 90-day period or such
     earlier date as the Depositor and the Trustee determine".

          D. Article III, entitled "Administration of Trust", Section 3.01
     Initial Cost shall be amended as follows:

          Section 3.01 Initial Cost shall be amended to substitute the following
     language:

          SECTION 3.01. INITIAL COST The costs of organizing the Trust and sale
     of the Trust Units shall, to the extent of the expenses reimbursable to the
     Depositor provided below, be borne by the Unit Holders, PROVIDED, HOWEVER,
     that, to the extent all of such costs are not borne by Unit Holders, the
     amount of such costs not borne by Unit Holders shall be borne by the
     Depositor and, PROVIDED FURTHER, HOWEVER, that the liability on the part of
     the Depositor under this section shall not include any fees or other
     expenses incurred in connection with the administration of the Trust
     subsequent to the deposit referred to in Section 2.01. Upon notification
     from the Depositor that the primary offering period is concluded, the
     Trustee shall withdraw from the Account or Accounts specified in the
     Prospectus or, if no Account is therein specified, from the Principal
     Account, and pay to the Depositor the Depositor's reimbursable expenses of
     organizing the Trust and sale of the Trust Units in an amount certified to
     the Trustee by the Depositor. If the balance of the Principal Account is
     insufficient to make such withdrawal, the Trustee shall, as di-

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                                      -3-

     rected by the Depositor, sell Securities identified by the Depositor, or
     distribute to the Depositor Securities having a value, as determined under
     Section 4.01 as of the date of distribution, sufficient for such
     reimbursement. The reimbursement provided for in this section shall be for
     the account of the Unitholders of record at the conclusion of the primary
     offering period and shall not be reflected in the computation of the Unit
     Value prior thereto. As used herein, the Depositor's reimbursable expenses
     of organizing the Trust and sale of the Trust Units shall include the cost
     of the initial preparation and typesetting of the registration statement,
     prospectuses (including preliminary prospectuses), the indenture, and other
     documents relating to the Trust, SEC and state blue sky registration fees,
     the cost of the initial valuation of the portfolio and audit of the Trust,
     the initial fees and expenses of the Trustee, and legal and other
     out-of-pocket expenses related thereto, but not including the expenses
     incurred in the printing of preliminary prospectuses and prospectuses,
     expenses incurred in the preparation and printing of brochures and other
     advertising materials and any other selling expenses. Any cash which the
     Depositor has identified as to be used for reimbursement of expenses
     pursuant to this Section shall be reserved by the Trustee for such purpose
     and shall not be subject to distribution or, unless the Depositor otherwise
     directs, used for payment of redemptions in excess of the per-Unit amount
     allocable to Units tendered for redemption.

          E. The third paragraph of Section 3.05 is hereby amended to add the
     following sentence after the first sentence thereof: "Depositor may direct
     the Trustee to invest the proceeds of any sale of Securities not required
     for the redemption of Units in eligible money market instruments selected
     by the Depositor which will include only negotiable certificates of deposit
     or time deposits of domestic banks which are members of the Federal Deposit
     Insurance Corporation and which have, together with their branches or
     subsidiaries, more than $2 billion in total assets, except that
     certificates of deposit or time deposits of smaller domestic banks may be
     held provided the deposit does not exceed the insurance coverage on the
     instrument (which currently is $100,000), and provided further that the
     Trust's aggregate holding of certificates of deposit or time deposits
     issued by the Trustee may not ex-

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                                      -4-

     ceed the insurance coverage of such obligations and U.S. Treasury notes
     or bills (which shall be held until the maturity thereof) each of which
     matures prior to the earlier of the next following Distribution Date or 90
     days after receipt, the principal thereof and interest thereon (to the
     extent such interest is not used to pay Trust expenses) to be distributed
     on the earlier of the 90th day after receipt or the next following
     Distribution Date."

          F. The first sentence of each of Sections 3.10, 3.11 and 3.12 is
     amended to insert the following language at the beginning of such sentence,
     "Except as otherwise provided in Section 3.13,".

          G. The following new Section 3.13 is added

          Section 3.13. EXTRAORDINARY EVENT-SECURITY RETENTION AND VOTING. In
     the event the Trustee is notified of any action to be taken or proposed to
     be taken by holders of the securities held by the Trust in connection with
     any proposed merger, reorganization, spin-off, split-off or split-up by the
     issuer of stock or securities held in the Trust, the Trustee shall take
     such action or refrain from taking any action, as appropriate, so as to
     insure that the securities are voted as closely as possible in the same
     manner and in the same general proportion as are the securities held by
     owners other than the Trust. If stock or securities are received by the
     Trustee, with or without cash, as a result of any merger, reorganization,
     spin-off, split-off or split-up by the issuer of stock or securities held
     in the Trust, the Trustee at the direction of the Depositor may retain such
     stock or securities in the Trust. Neither the Depositor nor the Trustee
     shall be liable to any person for any action or failure to take action with
     respect to this section.

          H. Section 1.01 is amended to add the following definition: (9)
     "Deferred Sales Charge" shall mean any deferred sales charge payable in
     accordance with the provisions of Section 3.14 hereof, as set forth in the
     prospectus for a Trust. Definitions following this definition (9) shall be
     renumbered.

          I. Section 3.05 is hereby amended to add the following paragraph after
     the end thereof: On each Deferred Sales Charge payment date set forth in
     the prospectus for

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                                      -5-

     a Trust, the Trustee shall pay the account created pursuant to Section 3.14
     the amount of the Deferred Sales Charge payable on each such date as stated
     in the prospectus for a Trust. Such amount shall be withdrawn from the
     Principal Account from the amounts therein designated for such purpose.

          J. Section 3.06B(3) shall be amended by adding the following: "and any
     Deferred Sales Charge paid".

          K. Section 3.08 shall be amended by adding the following at the end
     thereof: "In order to pay the Deferred Sales Charge, the Trustee shall sell
     or liquidate an amount of Securities at such time and from time to time and
     in such manner as the Depositor shall direct such that the proceeds of such
     sale or liquidation shall equal the amount required to be paid to the
     Depositor pursuant to the Deferred Sales Charge program as set forth in the
     prospectus for a Trust.

          L. Section 3.14 shall be added as follows:

          Section 3.14. Deferred Sales Charge. If the prospectus for a Trust
     specifies a Deferred Sales Charge, the Trustee shall, on the dates
     specified in and as permitted by the prospectus, withdraw from the Income
     Account if such account is designated in the prospectus as the source of
     the payments of the Deferred Sales Charge, or to the extent funds are not
     available in that account or if such account is not so designated, from the
     Principal Account, an amount per Unit specified in the prospectus and
     credit such amount to a special, non-Trust account maintained at the
     Trustee out of which the Deferred Sales Charge will be distributed to the
     Depositor. If the Income Account is not designated as the source of the
     Deferred Sales Charge payment or if the balances in the Income and
     Principal Accounts are insufficient to make any such withdrawal, the
     Trustee shall, as directed by the Depositor, either advance funds, if so
     agreed to by the Trustee, in an amount equal to the proposed withdrawal and
     be entitled to reimbursement of such advance upon the deposit of additional
     monies in the Income Account or the Principal Account, sell Securities and
     credit the proceeds thereof to such special Depositor's account or credit
     Securities in kind to such special Depositor's Account. Such directions
     shall identify the Securities, if any, to be

<PAGE>

                                      -6-

     sold or distributed in kind and shall contain, if the Trustee is directed
     by the Depositor to sell a Security, instructions as to execution of such
     sales. If a Unit Holder redeems Units prior to full payment of the Deferred
     Sales Charge, the Trustee shall, if so provided in the prospectus, on the
     Redemption Date, withhold from the Redemption Price payment to such Unit
     Holder an amount equal to the unpaid portion of the Deferred Sales Charge
     and distribute such amount to such special Depositor's account or, if the
     Depositor shall purchase such Unit pursuant to the terms of Section 5.02
     hereof, the Depositor shall pay the Redemption Price for such Unit less the
     unpaid portion of the Deferred Sales Charge. The Depositor may at any time
     instruct the Trustee to distribute to the Depositor cash or Securities
     previously credited to the special Depositor's account.

          M. The Distribution Agency Agreement is amended to be applicable to
     the Morgan Stanley Dean Witter Select Equity Trust, The Competitive Edge
     Best Ideas Portfolio series.

          N. Reference to "Dean Witter Select Equity Trust" is replaced by
     "Morgan Stanley Dean Witter Select Equity Trust".

                                      II.

                      SPECIAL TERMS AND CONDITIONS OF TRUST

     The following special terms and conditions are hereby agreed to:

     A. The Trust is denominated Morgan Stanley Dean Witter Select Equity Trust
The Competitive Edge Best Ideas Portfolio Series 2000-4 (the "Best Ideas
Trust").

     B. The publicly traded stocks listed in Schedule A hereto are those which,
subject to the terms of this Indenture, have been or are to be deposited in
trust under this Indenture.

     C. The term, "Depositor" shall mean Dean Witter Reynolds Inc.

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                                      -7-

     D. The aggregate number of Units referred to in Sections 2.03 and 9.01
of the Basic Agreement is 24,995 for the Best Ideas Trust.

     E. A Unit is hereby declared initially equal to 1/24,995th for the Best
Ideas Trust.

     F. The term "In-Kind Distribution Date" shall mean January 3, 2002.

     G. The term "Record Dates" shall mean June 1, 2001 and January 24, 2002
and such other date as the Depositor may direct. (Such dates are set forth
for the purposes of distribution to Unit Holders. Trust expenses shall be
paid quarterly.)

     H. The term "Distribution Dates shall mean June 15, 2001 and on or about
January 31, 2002 and such other date as the Depositor may direct. (Such dates
are set forth for the purposes of distribution to Unit Holders. Trust
expenses shall be paid quarterly.)

     I. The term "Termination Date" shall mean January 24, 2002.

     J. The Depositor's Annual Portfolio Supervision Fee shall be a maximum
of $.25 per 100 Units.

     K. The Trustee's Annual Fee as defined in Section 6.04 of the Indenture
shall be $.80 per 100 Units.

     L. For a Unit Holder to receive an "in-kind" distribution during the life
of the Trust, such Unit Holder must tender at least 25,000 Units for redemption.
There is no minimum amount of Units that a Unit Holder must tender in order to
receive an "in-kind" distribution on the In-Kind Date or in connection with a
rollover.

     M. The Indenture is amended to provide that the period during which the
Trustee shall liquidate the Trust Securities shall not exceed 14 business days
commencing on the first business day following the In-Kind Date.

               (Signatures and acknowledgments on separate pages)

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                                      -8-

     The Schedule of Portfolio Securities in the prospectus included in this
Registration Statement is hereby incorporated by reference herein as Schedule A
hereto.

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