Document:

Exhibit 4(d)

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                               AVISTA CORPORATION

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                              OFFICER'S CERTIFICATE

                      (Under Section 301 of the Indenture,
                           dated as of April 1, 1998)

                  Establishing Series of Securities Designated
                        ___________________, Series ____

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                              -------------, ------

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                               AVISTA CORPORATION

                              OFFICER'S CERTIFICATE
                      (Under Section 301 of the Indenture,
                           dated as of April 1, 1998)

                  I, _______________,  a _________________ of AVISTA CORPORATION
(the  "Company"),  in accordance with Section 301 of the Indenture,  dated as of
April 1, 1998 (the  "Indenture",  capitalized  terms used herein and not defined
herein  having the  meanings  specified  in the  Indenture),  of the  Company to
JPMorgan Chase Bank (formerly known as The Chase Manhattan  Bank),  trustee (the
"Trustee"),  do hereby  establish  a series of  Securities  having the terms and
characteristics set forth in this Officer's Certificate.

PART I

                  Set   forth   below  in  this   Part  I  are  the   terms  and
characteristics  of the series of Securities  established  hereby referred to in
clauses (a) through (t) in the second  paragraph of Section 301 of the Indenture
(the  lettered  clauses set forth herein  corresponding  to such clauses in said
Section 301).

                  (a) the title of the  Securities of such series,  being Series
No.  __  under  the  Indenture,  shall  be  "_______________,  Series  __"  (the
Securities of such series,  for purposes of this  Officer's  Certificate,  being
sometimes hereinafter called the "Notes");

                  (b) the  aggregate  principal  amount  of Notes  which  may be
authenticated and delivered under the Indenture shall not be limited;

                  (c)  interest  on the Notes  shall be payable to the Person or
Persons in whose names the Notes are  registered at the close of business on the
Regular Record Date for such interest, except as otherwise expressly provided in
the form of  [Fixed  Rate]  Note  attached  hereto  and  hereby  authorized  and
approved;

                  (d)  the   principal   of  the  Notes   shall  be  payable  on
___________, _____;

                  (e) [provisions  relating to interest rate(s) will be inserted
here];

                  (f) the corporate  trust office of JPMorgan  Chase Bank in New
York,  New York shall be the place at which (i) the  principal of,  premium,  if
any,  and  interest,  if any,  on the Notes at  Maturity  shall be payable  upon
presentment  and interest prior to Maturity shall be payable as specified in the
form of Note attached hereto,  (ii) registration of transfer of the Notes may be
effected,  (iii) exchanges of Notes may be effected and (iv) notices and demands
to or upon the Company in respect of the Notes and the  Indenture may be served;
and JPMorgan  Chase Bank shall be the Security  Registrar and a Paying Agent for
the Notes; PROVIDED,  HOWEVER, that the Company reserves the right to change, by
one or more Officer's  Certificates  supplemental to this Officer's Certificate,
any such place or the Security  Registrar or such Paying  Agent;  and  PROVIDED,
FURTHER,  that the  Company  reserves  the  right to  designate,  by one or more
Officer's Certificates supplemental to this Officer's Certificate, its principal
corporate  office

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in Spokane, Washington as any such place or itself as the Security Registrar;

                  (g) [optional redemption provisions,  if any, will be inserted
here];

                  (h) [mandatory redemption provisions, if any, will be inserted
here];

                  (i) the Notes shall be issued in  denominations  of $1,000 and
any integral multiple thereof;

                  (j) inapplicable;

                  (k) inapplicable;

                  (l) inapplicable;

                  (m) inapplicable;

                  (n) inapplicable;

                  (o) [conversion provisions, if any, will be inserted here];

                  (p) inapplicable;

                  (q) the Notes  are  initially  to be  issued  in global  form,
registered  in the  name of Cede & Co.,  as  nominee  for The  Depository  Trust
Company  (the   "Depositary").   Such  Notes  shall  not  be   transferable   or
exchangeable, nor shall any purported transfer be registered, except as follows:

                  (i) such Notes may be  transferred in whole,  and  appropriate
         registration of transfer effected,  if such transfer is by such nominee
         to the Depositary,  or by the Depositary to another nominee thereof, or
         by any nominee of the  Depositary to any other nominee  thereof,  or by
         the  Depositary  or any  nominee  thereof to any  successor  securities
         depositary or any nominee thereof; and

                  (ii)  such  Notes  may  be  exchanged  for  definitive   Notes
         registered in the respective  names of the beneficial  holders thereof,
         and thereafter shall be transferable without restriction, if:

                       (A)  the   Depositary,   or  any   successor   securities
                  depositary,  shall have  notified  the Company and the Trustee
                  that  it  is  unwilling  or  unable  to  continue  to  act  as
                  securities  depositary  with  respect  to such  Notes  and the
                  Trustee  shall not have been  notified by the  Company  within
                  ninety (90) days of the  identity  of a  successor  securities
                  depositary with respect to such Notes;

                       (B) the  Company  shall have  delivered  to the Trustee a
                  Company  Order  to the  effect  that  such  Notes  shall be so
                  exchangeable on and after a date specified therein; or

                       (C) (I) an Event of Default  shall have  occurred  and be
                  continuing,

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                  (II) the  Trustee  shall  have  given  notice of such Event of
                  Default  pursuant  to Section 802 of the  Indenture  and (III)
                  there shall have been delivered to the Company and the Trustee
                  an Opinion of Counsel to the effect that the  interests of the
                  beneficial  owners of such  Notes in respect  thereof  will be
                  materially  impaired  unless  such  owners  become  Holders of
                  definitive Notes;

it being understood that any such  registration of transfer or exchange shall be
effected in accordance with Section 305 of the Indenture;

                  (r) inapplicable;

                  (s) no service  charge shall be made for the  registration  of
transfer  or  exchange  of the Notes;  PROVIDED,  HOWEVER,  that the Company may
require  payment  of a sum  sufficient  to cover  any tax or other  governmental
charge payable in connection with such transfer or exchange; and

                  (t)  [Section  113  of  the  Indenture   shall  apply  to  the
Securities][the  provisions  of the Fixed Rate Note  shall  apply in lieu of the
provisions of Section 113].

                                    PART II

                  Set forth  below in this Part II are  additional  terms of the
series of Notes established  hereby, as contemplated by clause (u) in the second
paragraph of Section 301 of the Indenture.

                  (a) the Notes shall have such  further  terms as are set forth
in the form(s) of [Fixed Rate] Note attached hereto;

                  (b) if the  Company  shall make any  deposit  of money  and/or
Government  Obligations  with  respect  to  any  Notes,  or any  portion  of the
principal amount thereof,  as contemplated by Section 601 of the Indenture,  the
Company  shall not deliver an Officer's  Certificate  described in clause (z) in
the first paragraph of said Section 601 unless the Company shall also deliver to
the Trustee, together with such Officer's Certificate, either:

                  (i) an  instrument  wherein the Company,  notwithstanding  the
         satisfaction and discharge of its indebtedness in respect of the Notes,
         shall assume the obligation (which shall be absolute and unconditional)
         to irrevocably deposit with the Trustee or Paying Agent such additional
         sums of money, if any, or additional  Government  Obligations  (meeting
         the  requirements of Section 601), if any, or any combination  thereof,
         at such time or times,  as shall be necessary,  together with the money
         and/or Government Obligations theretofore so deposited, to pay when due
         the  principal of and  premium,  if any, and interest due and to become
         due on such  Notes or  portions  thereof,  all in  accordance  with and
         subject to the provisions of said Section 601; PROVIDED,  HOWEVER, that
         such  instrument  may state that the  obligation of the Company to make
         additional  deposits as  aforesaid  shall be subject to the delivery to
         the  Company  by the  Trustee  of a  notice  asserting  the  deficiency
         accompanied  by an  opinion  of an  independent  public  accountant  of
         nationally  recognized  standing showing the calculation thereof (which

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         opinion shall be obtained at the expense of the Company); or

                  (ii) an Opinion of Counsel to the effect  that the  Holders of
         such Notes,  or  portions of the  principal  amount  thereof,  will not
         recognize  income,  gain or loss for United States  federal  income tax
         purposes as a result of the satisfaction and discharge of the Company's
         indebtedness  in respect  thereof and will be subject to United  States
         federal  income tax on the same  amounts,  at the same times and in the
         same  manner  as if  such  satisfaction  and  discharge  had  not  been
         effected; and

                  (c) if the  Company  engages in a  conveyance  or  transfer of
property as  contemplated  in Section 1005 of the Indenture,  in addition to the
requirements of Section 1005 of the Indenture,  the Company will not be released
and discharged from all obligations under the Indenture and the Notes unless the
Company  shall  deliver to the  Trustee an Opinion of Counsel to the effect that
the Holders of such Notes, or portions of the principal amount thereof, will not
recognize income,  gain or loss for United States federal income tax purposes as
a result of conveyance or transfer and will be subject to United States  federal
income tax on the same  amounts,  at the same times and in the same manner as if
such conveyance or transfer had not been effected;

                  (d) for so long as the  Notes  are  outstanding,  the  Company
shall  not  consolidate  with or merge  into any  other  Person,  or  convey  or
otherwise transfer,  or lease, all of its properties,  as or substantially as an
entirety,  as  contemplated  by Section 1001 of the Indenture,  to any Person if
such person is organized  and existing  under the laws of Canada or any Province
thereof.

                  (e) [Additional covenants will be inserted here]

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                  IN WITNESS WHEREOF, I have executed this Officer's Certificate
this ___ day of __________, 200_.

                                            --------------------------------
                                            Name:
                                            Title:

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                                                       FORM OF [FIXED RATE] NOTE
                   (See legend at the end of this Security for
                  restrictions on transfer and change of form)

                               AVISTA CORPORATION
                          _______________, Series _____

ORIGINAL INTEREST ACCRUAL DATE:             REDEEMABLE:   YES____ NO____
STATED MATURITY:                                    [REDEMPTION INFORMATION]
INTEREST RATE:

INTEREST PAYMENT DATES:
REGULAR RECORD DATES:
OTHER PROVISIONS:

                                OID: YES __ NO __
                            TOTAL AMOUNT OF OID (%):
                             YIELD TO MATURITY (%):
                                 INITIAL ACCRUAL
                                 PERIOD OID (%):
                            (CONSTANT - YIELD METHOD)

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

                    This Security is not a Discount Security
              within the meaning of the within-mentioned Indenture.
                        --------------------------------

Principal Amount                                                Registered No.
$                                                               CUSIP

AVISTA CORPORATION,  a corporation  organized and existing under the laws of the
State of  Washington  (herein  called the  "Company",  which term  includes  any
successor  corporation  under  the  Indenture  referred  to  below),  for  value
received, hereby promises to pay to

or registered assigns, the principal sum of

                                                                         DOLLARS

on the Stated Maturity  specified  above,  and to pay interest  thereon from the
Original  Interest Accrual Date specified above or from the most recent Interest
Payment Date to which interest has been paid or duly provided for, semi-annually
in  arrears  on the  Interest  Payment  Dates  specified  above  in  each  year,
commencing with the Interest Payment Date next succeeding the Original  Interest
Accrual Date specified  above,  and at Maturity,  at the Interest Rate per annum
specified  above,  until the principal  hereof is paid or duly provided for. The
interest so payable, and paid or duly provided for, on any Interest Payment Date
shall, as provided in such  Indenture,  be paid to the Person in whose name this
Security (or one or more  Predecessor  Securities) is registered at the close of
business on the Regular Record Date  specified  above (whether or not a Business
Day) next preceding such Interest Payment Date.  Notwithstanding  the foregoing,
(a) if the Original  Interest  Accrual Date of this  Security is after a Regular
Record Date and before the  corresponding  Interest  Payment  Date,  interest so

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payable for the period from and including the Original  Interest Accrual Date to
but excluding  such Interest  Payment Date shall be paid on the next  succeeding
Interest  Payment Date to the Holder hereof on the related  Regular Record Date;
and (b)  interest  payable  at  Maturity  shall  be paid to the  Person  to whom
principal shall be paid.  Except as otherwise  provided in said  Indenture,  any
such  interest  not so paid or duly  provided  for shall  forthwith  cease to be
payable to the Holder on such Regular  Record Date and may either be paid to the
Person in whose name this Security (or one or more  Predecessor  Securities)  is
registered at the close of business on a Special  Record Date for the payment of
such Unpaid Interest to be fixed by the Trustee,  notice of which shall be given
to  Holders  of  Securities  of this  series not less than 15 days prior to such
Special  Record  Date,  or be paid at any time in any other  lawful  manner  not
inconsistent  with the  requirements  of any  securities  exchange  on which the
Securities of this series may be listed, and upon such notice as may be required
by such exchange, all as more fully provided in said Indenture.

                  Payment  of the  principal  of and  premium,  if any,  on this
Security and interest hereon at Maturity shall be made upon presentation of this
Security at the Corporate  Trust Office of The Chase Manhattan Bank in New York,
New York,  or at such  other  office or  agency  as may be  designated  for such
purpose by the Company from time to time.  Payment of interest on this  Security
(other than  interest at Maturity)  shall be made by check mailed to the address
of the Person  entitled  thereto as such  address  shall  appear in the Security
Register,  except that if such Person  shall be a  securities  depositary,  such
payment  may be made by such  other  means in lieu of check,  as shall be agreed
upon by the Company,  the Trustee and such Person.  Payment of the  principal of
and premium, if any, and interest on this Security, as aforesaid,  shall be made
in such coin or  currency  of the  United  States of  America  as at the time of
payment shall be legal tender for the payment of public and private debts.

                  This Security is one of a duly authorized  issue of securities
of the Company (herein called the  "Securities"),  issued and issuable in one or
more series under and equally secured by an Indenture, dated as of April 1, 1998
(such  Indenture as originally  executed and delivered  and as  supplemented  or
amended from time to time thereafter,  together with any constituent instruments
establishing  the  terms of  particular  Securities,  being  herein  called  the
"Indenture"),  between the Company and The Chase Manhattan Bank, trustee (herein
called the  "Trustee,"  which term  includes  any  successor  trustee  under the
Indenture), to which Indenture and all indentures supplemental thereto reference
is hereby  made for a  description  of the  respective  rights,  limitations  of
rights, duties and immunities of the Company, the Trustee and the Holders of the
Securities  thereunder and of the terms and conditions upon which the Securities
are, and are to be,  authenticated and delivered and secured.  The acceptance of
this  Security  shall be deemed to  constitute  the consent and agreement by the
Holder hereof to all terms and provisions of the Indenture. This Security is one
of the series designated above.

                  If any  Interest  Payment  Date,  any  Redemption  Date or the
Stated Maturity shall not be a Business Day (as hereinafter defined), payment of
the amounts due on this Security on such date may be made on the next succeeding
Business  Day; and if such payment is made or duly provided for on such Business
Day, no interest shall accrue on such amounts for the period from and after such
Interest Payment Date,  Redemption Date or Stated Maturity,  as the case may be,
to such Business Day.

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                  [Insert  provisions,  if any, for  redemption at the option of
the Company.]

                  [Insert  provisions,  if any,  for  redemption  pursuant  to a
sinking fund or analogous provision or at the option of the Holder.]

                  Notice  of  redemption  [(other  than at the  election  of the
Holder)] shall be given by mail to Holders of Securities,  not less than 30 days
nor more than 60 days prior the date fixed for  redemption,  all as  provided in
the  Indenture.  As  provided  in the  Indenture,  notice of  redemption  at the
election of the Company as  aforesaid  may state that such  redemption  shall be
conditional  upon the  receipt  by the  Trustee of money  sufficient  to pay the
principal of and premium,  if any and  interest,  if any, on this Security on or
prior the date fixed for such redemption;  a notice of redemption so conditioned
shall be of no force or effect if such  money is not so  received  and,  in such
event, the Company shall not be required to redeem this Security.

                  In the event of  redemption  of this  Security in part only, a
new Security or Securities  of this series,  of like tenor,  for the  unredeemed
portion  hereof  will be  issued  in the  name of the  Holder  hereof  upon  the
cancellation hereof.

                  [Insert provisions, if any, for conversion of the Security.]

                  If an Event of  Default  shall  occur and be  continuing,  the
principal  of this  Security  may be declared  due and payable in the manner and
with the effect provided in the Indenture.

                  The  Indenture  permits,  with certain  exceptions  as therein
provided, the Trustee to enter into one or more supplemental  indentures for the
purpose of adding any  provisions  to, or changing in any manner or  eliminating
any of the  provisions  of, the Indenture with the consent of the Holders of not
less than a majority in  aggregate  principal  amount of the  Securities  of all
series then Outstanding under the Indenture,  considered as one class; provided,
however,  that if there shall be Securities of more than one series  Outstanding
under the  Indenture and if a proposed  supplemental  indenture  shall  directly
affect the rights of the  Holders if  Securities  of one or more,  but less than
all,  of such  series,  then the  consent  only of the  Holders of a majority in
aggregate  principal  amount  of the  Outstanding  Securities  of all  series so
directly  affected,  considered as one class,  shall be required;  and provided,
further,  that if the  Securities  of any series  shall have been issued in more
than one Tranche  and if the  proposed  supplemental  indenture  shall  directly
affect the rights of the  Holders of  Securities  of one or more,  but less than
all, of such  Tranches,  then the  consent  only of the Holders of a majority in
aggregate  principal  amount of the  Outstanding  Securities  of all Tranches so
directly  affected,  considered as one class,  shall be required;  and provided,
further,  that the  Indenture  permits  the  Trustee  to enter  into one or more
supplemental  indentures for limited purposes without the consent of any Holders
of Securities.  The Indenture also contains provisions permitting the Holders of
a majority in principal amount of the Securities then Outstanding,  on behalf of
the Holders of all Securities,  to waive  compliance by the Company with certain
provisions of the  Indenture  and certain past defaults  under the Indenture and
their  consequences.  Any such consent or waiver by the Holder of this  Security
shall be conclusive  and binding upon such Holder and upon all future Holders of
this  Security  and of any  Security  issued upon the  registration  of transfer
hereof or in exchange thereof or in lieu hereof, whether or not notation of such
consent or waiver is made upon this Security.

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                  As   provided  in  the   Indenture   and  subject  to  certain
limitations  therein set forth,  this  Security or any portion of the  principal
amount hereof will be deemed to have been paid for all purposes of the Indenture
and to be no longer Outstanding thereunder, and, at the election of the Company,
the  Company's  entire  indebtedness  in respect  thereof will be satisfied  and
discharged,  if there has been  irrevocably  deposited  with the  Trustee or any
Paying Agent (other than the Company),  in trust,  money in an amount which will
be  sufficient  and/or  Eligible  Obligations,  the principal of and interest on
which when due, without regard to any reinvestment  thereof, will provide moneys
which, together with moneys so deposited, will be sufficient to pay when due the
principal of and interest on this Security when due.

                  The  Indenture  contains  terms,   provisions  and  conditions
relating to the  consolidation  or merger of the Company  with or into,  and the
conveyance or other transfer,  or lease,  of assets to, another  Person,  to the
assumption  by  such  other  Person,  in  certain  circumstances,  of all of the
obligations  of the Company under the Indenture and on the Securities and to the
release  and  discharge  of the  Company,  in certain  circumstances,  from such
obligation.

                  As   provided  in  the   Indenture   and  subject  to  certain
limitations  therein set forth,  the transfer of this Security is registrable in
the Security  Register,  upon  surrender of this  Security for  registration  of
transfer at the corporate  trust office of JPMorgan  Chase Bank in New York, New
York,  or such other office or agency as may be  designated  by the Company from
time to time,  duly  endorsed  by, or  accompanied  by a written  instrument  of
transfer in form  satisfactory  to the Company and the Security  Registrar  duly
executed by, the Holder hereof or his attorney duly  authorized in writing,  and
thereupon one or more new Securities of this series of authorized  denominations
and of  like  tenor  and  aggregate  principal  amount,  will be  issued  to the
designated transferee or transferees.

                  The  Securities of this series are issuable only as registered
Securities,  without  coupons,  and in  denominations of $1,000 or any amount in
excess  thereof  that is an  integral  multiple  of $1,000.  As  provided in the
Indenture and subject to certain  limitations  therein set forth,  Securities of
this Series are exchangeable for a like aggregate principal amount of Securities
of the same series and Tranche, of any authorized denominations, as requested by
the  Holder  surrendering  the same,  and of like tenor  upon  surrender  of the
Security or Securities to be exchanged at the corporate trust office of JPMorgan
Chase  Bank in New York,  New  York,  or such  other  office or agency as may be
designated by the Company from time to time.

                  No service charge shall be made for any such  registration  of
transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith.

                  Prior to due  surrender of this Security for  registration  of
transfer,  the Company,  the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this  Security is  registered as the absolute
owner hereof for all purposes (subject to Section 307 of the Indenture), whether
or not this  Security be overdue,  and neither the Company,  the Trustee nor any
such agent shall be affected by notice to the contrary.

                  The  Indenture  and the  Securities  shall be  governed by and
construed in  accordance  with the laws of the State of New York,  except to the
extent that the Trust Indenture

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Act shall be applicable.

                  As used  herein,  "Business  Day" means any day,  other than a
Saturday or Sunday,  which is not a day on which banking  institutions  or trust
companies  in The City of New York,  New York or other  city in which is located
any office or agency maintained for the payment of principal,  premium,  if any,
or interest on this Security,  are authorized or required by law,  regulation or
executive  order to remain  closed.  All other terms used in this Security which
are defined in the  Indenture  shall have the  meanings  assigned to them in the
Indenture.

                  As provided in the Indenture, no recourse shall be had for the
payment of the principal of or premium,  if any, or interest on any  Securities,
or any part  thereof,  or for any claim based  thereon or  otherwise  in respect
thereof,  or of the indebtedness  represented  thereby,  or upon any obligation,
covenant or agreement under the Indenture,  against,  and no personal  liability
whatsoever  shall attach to, or be incurred by, any  incorporator,  shareholder,
officer or director,  as such, past,  present or future of the Company or of any
predecessor or successor  corporation (either directly or through the Company or
a predecessor or successor corporation), whether by virtue of any constitutional
provision,  statute or rule of law, or by the  enforcement  of any assessment or
penalty  or  otherwise;  it  being  expressly  agreed  and  understood  that the
Indenture and all the Securities are solely  corporate  obligations and that any
such personal  liability is hereby  expressly waived and released as a condition
of, and as part of the consideration for, the execution of the Indenture and the
issuance of the Securities.

                  Unless  the  certificate  of  authentication  hereon  has been
executed by the Trustee or an  Authenticating  Agent by manual  signature,  this
Security shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

                                       5
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                  IN WITNESS WHEREOF,  the Company has caused this instrument to
be duly executed.

                           AVISTA CORPORATION

                           By:
                                ------------------------------------------
                                    [Title]

                          CERTIFICATE OF AUTHENTICATION

                  This is one of the Securities of the series designated therein
referred to in the within-mentioned Indenture.

Dated:
      ---------------------------------

                                            OR
         ------------------------------           ------------------------------

         ------------------------------           ------------------------------
         as Trustee                                          as Trustee

By:                                               By:  [                ],
      ---------------------------------
         Authorized Officer

                                                        AS AUTHENTICATING AGENT

                                                  By:

                                                     ---------------------------
                                                        Authorized Officer

                                       6
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                  THIS SECURITY MAY NOT BE TRANSFERRED OR EXCHANGED, NOR MAY ANY
PURPORTED TRANSFER BE REGISTERED, EXCEPT (I) THIS SECURITY MAY BE TRANSFERRED IN
WHOLE, AND APPROPRIATE REGISTRATION OF TRANSFER EFFECTED, IF SUCH TRANSFER IS BY
CEDE & CO., AS NOMINEE FOR THE DEPOSITORY TRUST COMPANY (THE  "DEPOSITARY"),  TO
THE  DEPOSITARY,  OR BY THE  DEPOSITARY TO ANOTHER  NOMINEE  THEREOF,  OR BY ANY
NOMINEE OF THE DEPOSITARY TO ANY OTHER NOMINEE THEREOF,  OR BY THE DEPOSITARY OR
ANY  NOMINEE  THEREOF TO ANY  SUCCESSOR  SECURITIES  DEPOSITARY  OR ANY  NOMINEE
THEREOF;  AND (II) THIS  SECURITY MAY BE  EXCHANGED  FOR  DEFINITIVE  SECURITIES
REGISTERED  IN THE  RESPECTIVE  NAMES  OF THE  BENEFICIAL  HOLDERS  HEREOF,  AND
THEREAFTER SHALL BE TRANSFERABLE WITHOUT RESTRICTIONS IF: (A) THE DEPOSITARY, OR
ANY  SUCCESSOR  SECURITIES  DEPOSITARY,  SHALL HAVE NOTIFIED THE COMPANY AND THE
TRUSTEE  THAT  IT IS  UNWILLING  OR  UNABLE  TO  CONTINUE  TO ACT AS  SECURITIES
DEPOSITARY  WITH RESPECT TO THE  SECURITIES  AND THE TRUSTEE SHALL NOT HAVE BEEN
NOTIFIED BY THE COMPANY  WITHIN  NINETY (90) DAYS OF THE IDENTITY OF A SUCCESSOR
SECURITIES DEPOSITARY WITH RESPECT TO THE SECURITIES; (B) THE COMPANY SHALL HAVE
DELIVERED TO THE TRUSTEE A COMPANY ORDER TO THE EFFECT THAT THE SECURITIES SHALL
BE SO EXCHANGEABLE ON AND AFTER A DATE SPECIFIED THEREIN;  OR (C)(1) AN EVENT OF
DEFAULT SHALL HAVE OCCURRED AND BE CONTINUING,  (2) THE TRUSTEE SHALL HAVE GIVEN
NOTICE OF SUCH EVENT OF DEFAULT PURSUANT TO SECTION 802 OF THE INDENTURE AND (3)
THERE  SHALL HAVE BEEN  DELIVERED  TO THE  COMPANY AND THE TRUSTEE AN OPINION OF
COUNSEL  TO THE  EFFECT  THAT THE  INTERESTS  OF THE  BENEFICIAL  OWNERS  OF THE
SECURITIES  IN RESPECT  THEREOF WILL BE MATERIALLY  IMPAIRED  UNLESS SUCH OWNERS
BECOME HOLDERS OF DEFINITIVE SECURITIES.

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

FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto

  ----------------------------------------------------------------------------
     [please insert social security or other identifying number of assignee]

  ----------------------------------------------------------------------------
            [please print or typewrite name and address of assignee]

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

the within Security of AVISTA CORPORATION and does hereby irrevocably constitute
and appoint _________________,  Attorney, to transfer said Security on the books
of  the  within-mentioned  Company,  with  full  power  of  substitution  in the
premises.

Dated:   ________________

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

Notice:  The  signature  to this  assignment  must  correspond  with the name as
written upon the face of the Security in every particular  without alteration or
enlargement or any change whatsoever.

                                       7<PAGE>

                                   EXHIBIT 4.4

                                WARRANT AGREEMENT

                                     between

                               EDGAR ONLINE, INC.

                                       and

                             AMERICAN STOCK TRANSFER
                                AND TRUST COMPANY

                          Dated as of __________, 2004
<PAGE>
      This Agreement, dated as of ________, 2004, is between EDGAR Online, Inc.,
a Delaware corporation (the "COMPANY") and American Stock Transfer and Trust
Company, a New York corporation (the "WARRANT AGENT").

      The Company, at or about the time that it is entering into this Agreement,
proposes to issue and sell to public investors up to 2,500,000 units, and the
Company and the TheBean LLC, as Selling Stockholder, propose to issue and sell
an up to an additional 375,000 units (together with the additional units
issuable as provided herein, the. In addition, the Company proposes to issue to
the Representative of the Underwriters in the public offering a warrant to
purchase up to 250,000 additional units. The 3,125,000 units, including the firm
commitment units, the over-allotment units and the units underlying the
Representative's warrant, are herein collectively referred to as the "UNITS".
Each Unit consists of two shares of common stock, $0.01 par value, of the
Company (the "COMMON STOCK") and one warrant (collectively, the "WARRANTS").
Each Warrant is exercisable to purchase one share of Common Stock upon such
terms and conditions and subject to adjustment in certain circumstances, all as
set forth in this Agreement. The Company is providing all of the Warrants
underlying the Units.

      The Company wishes to retain the Warrant Agent to act on behalf of the
Company, and the Warrant Agent is willing so to act, in connection with the
issuance, transfer, exchange and replacement of the certificates evidencing the
Warrants to be issued under this Agreement (the "WARRANT CERTIFICATES") and the
exercise of the Warrants;

      The Company and the Warrant Agent wish to enter into this Agreement to set
forth the terms and conditions of the Warrants and the rights of the holders
thereof ("WARRANTHOLDERS") and to set forth the respective rights and
obligations of the Company and the Warrant Agent. Each Warrantholder is an
intended beneficiary of this Agreement with respect to the rights of
Warrantholders herein.

      NOW, THEREFORE, in consideration of the premises and the mutual agreements
herein set forth, the parties hereto agree as follows:

Section 1.  Appointment of Warrant Agent

      The Company appoints the Warrant Agent to act as agent for the Company in
accordance with the instructions in this Agreement and the Warrant Agent accepts
such appointment.

Section 2.  Date, Denomination and Execution of Warrant Certificates

      The Warrant Certificates (and the Form of Election to Purchase and the
Form of Assignment to be printed on the reverse thereof) shall be in registered
form only and shall be substantially of the tenor and purport recited in Exhibit
A hereto, and may have such letters, numbers or other marks of identification or
designation and such legends, summaries or endorsements printed, lithographed or
engraved thereon as the Company may deem appropriate

                                       2
<PAGE>
and as are not inconsistent with the provisions of this Agreement, or as may be
required to comply with any law, or with any rule or regulation made pursuant
thereto, or with any rule or regulation of any stock exchange on which the
Common Stock or the Warrants may be listed or any automated quotation system, or
to conform to usage. Each Warrant Certificate shall entitle the registered
holder thereof, subject to the provisions of this Agreement and of the Warrant
Certificate, to purchase, on or after _____, 2004 and on or before the close of
business on _____, 2009 (the "Expiration Date"), one fully paid and
non-assessable share of Common Stock for each Warrant evidenced by such Warrant
Certificate for $____. The exercise price of the Warrants (the "EXERCISE PRICE")
is subject to adjustments as provided in Section 6 hereof. Each Warrant
Certificate issued as a part of a Unit offered to the public as described in the
recitals, above, shall be dated _____, 2004; each other Warrant Certificate
shall be dated the date on which the Warrant Agent receives valid issuance
instructions from the Company or a transferring holder of a Warrant Certificate
or, if such instructions specify another date, such other date.

      For purposes of this Agreement, the term "CLOSE OF BUSINESS" on any given
date shall mean 5:00 p.m., Eastern time, on such date; provided, however, that
if such date is not a business day, it shall mean 5:00 p.m., Eastern time, on
the next succeeding business day. For purposes of this Agreement, the term
"BUSINESS DAY" shall mean any day other than a Saturday, Sunday, or a day on
which banking institutions in New York, New York or in the State in which the
Warrant Agent maintains the principal office in which it conducts business
related to the Warrants are authorized or obligated by law to be closed.

      Each Warrant Certificate shall be executed on behalf of the Company by the
Chief Executive Officer or the President or the Chief Financial Officer, either
manually or by facsimile signature printed thereon, and have affixed thereto the
Company's seal or a facsimile thereof which shall be attested by the Secretary
or an Assistant Secretary of the Company, either manually or by facsimile
signature. Each Warrant Certificate shall be manually or by facsimile signature
printed thereon countersigned by the Warrant Agent and shall not be valid for
any purpose unless so countersigned. In case any officer of the Company who
shall have signed any Warrant Certificate shall cease to be such officer of the
Company before countersignature by the Warrant Agent and issue and delivery
thereof by the Company, such Warrant Certificate, nevertheless, may be
countersigned by the Warrant Agent, issued and delivered with the same force and
effect as though the person who signed such Warrant Certificate had not ceased
to be such officer of the Company.

Section 3.  Subsequent Issue of Warrant Certificates

      Subsequent to their original issuance, no Warrant Certificates shall be
reissued except (i) Warrant Certificates issued upon transfer thereof in
accordance with Section 4 hereof, (ii) Warrant Certificates issued upon any
combination, split-up or exchange of Warrant Certificates pursuant to Section 4
hereof, (iii) Warrant Certificates issued in replacement of mutilated,
destroyed, lost or stolen Warrant Certificates pursuant to Section 5 hereof,
(iv) Warrant Certificates issued upon the partial exercise of Warrant
Certificates pursuant to Section 7 hereof, and (v) Warrant Certificates issued
to reflect any adjustment or change in the Exercise Price or the number or kind
of shares purchasable thereunder pursuant to Section 22 hereof. The Warrant
Agent is hereby irrevocably authorized to countersign and deliver, in accordance
with the

                                       3
<PAGE>
provisions of said Sections 4, 5, 7 and 22, the new Warrant Certificates
required for purposes thereof, and the Company, whenever required by the Warrant
Agent, will supply the Warrant Agent with Warrant Certificates duly executed on
behalf of the Company for such purposes.

Section 4.  Transfers and Exchanges of Warrant Certificates

      The Warrant Agent will keep or cause to be kept books for registration of
ownership and transfer of the Warrant Certificates issued hereunder. Such
registers shall show the names and addresses of the respective holders of the
Warrant Certificates and the kind and number of Warrants evidenced by each such
Warrant Certificate.

      The Warrant Agent shall, from time to time, register the transfer of any
outstanding Warrants upon the books to be maintained by the Warrant Agent for
that purpose, upon surrender of the Warrant Certificate evidencing such
Warrants, with the Form of Assignment duly filled in and executed with such
signature guaranteed by a financial institution that is a member of a Securities
Transfer Association approved medallion program, such as STAMP, SEMP or MSP, to
the Warrant Agent at its offices located at 59 Maiden Lane, Plaza Level, New
York, New York 10038, at any time on or before the Expiration Date of such
Warrant, and upon payment to the Warrant Agent for the account of the Company of
an amount equal to any applicable transfer tax. Payment of the amount of such
tax may be made in cash, or by certified or official bank check, payable in
lawful money of the United States of America to the order of the Company.

      Upon receipt of a Warrant Certificate, with the Form of Assignment duly
filled in and executed, accompanied by payment of an amount equal to any
applicable transfer tax, the Warrant Agent shall promptly cancel the surrendered
Warrant Certificate and countersign and deliver to the transferee a new Warrant
Certificate for the number of full Warrants transferred to such transferee;
provided, however, that in case the registered holder of any Warrant Certificate
shall elect to transfer fewer than all of the Warrants evidenced by such Warrant
Certificate, the Warrant Agent in addition shall promptly countersign and
deliver to such registered holder a new Warrant Certificate or Certificates for
the number of full Warrants not so transferred.

      Any Warrant Certificate or Certificates may be exchanged at the option of
the holder thereof for another Warrant Certificate or Certificates of different
denominations, of like tenor and representing in the aggregate the same kind and
number of Warrants, upon surrender of such Warrant Certificate or Certificates,
with the Form of Assignment duly filled in and executed, to the Warrant Agent,
at any time or from time to time after the close of business on the date hereof
and prior to the close of business on the Expiration Date relating to such
Warrant. The Warrant Agent shall promptly cancel the surrendered Warrant
Certificate and deliver the new Warrant Certificate pursuant to the provisions
of this Section.

Section 5.  Mutilated, Destroyed, Lost or Stolen Warrant Certificates

      Upon receipt by the Company and the Warrant Agent of evidence reasonably
satisfactory to them of the loss, theft, destruction or mutilation of any
Warrant Certificate, and in the case of loss, theft or destruction, of indemnity
or security reasonably satisfactory to them, and reimbursement to them of all
reasonable expenses incidental thereto, and, in the case of

                                       4
<PAGE>
mutilation, upon surrender and cancellation of the Warrant Certificate, the
Warrant Agent shall countersign and deliver a new Warrant Certificate of like
tenor for the same kind and number of Warrants.

Section 6. Adjustments of Number and Kind of Shares Purchasable and Exercise
Price

      The number and kind of securities or other property purchasable upon
exercise of a Warrant shall be subject to adjustment from time to time upon the
occurrence, after the date hereof, of any of the following events:

   A. In case the Company shall (1) pay a dividend in, or make a distribution
of, shares of capital stock on its outstanding Common Stock, (2) subdivide its
outstanding shares of Common Stock into a greater number of such shares or (3)
combine its outstanding shares of Common Stock into a smaller number of such
shares, the total number of shares of Common Stock purchasable upon the exercise
of each Warrant outstanding immediately prior thereto shall be adjusted so that
the holder of any Warrant Certificate thereafter surrendered for exercise shall
be entitled to receive at the same aggregate Exercise Price the number of shares
of capital stock (of one or more classes) which such holder would have owned or
have been entitled to receive immediately following the happening of any of the
events described above had such Warrant been exercised in full immediately prior
to the record date with respect to such event. Any adjustment made pursuant to
this Subsection shall, in the case of a stock dividend or distribution, become
effective as of the record date therefor and, in the case of a subdivision or
combination, be made as of the effective date thereof. If, as a result of an
adjustment made pursuant to this Subsection, the holder of any Warrant
Certificate thereafter surrendered for exercise shall become entitled to receive
shares of two or more classes of capital stock of the Company, the Board of
Directors of the Company (whose determination shall be conclusive and shall be
evidenced by a Board resolution filed with the Warrant Agent) shall determine
the allocation of the adjusted Exercise Price between or among shares of such
classes of capital stock.

   B. In the event of a capital reorganization or a reclassification of the
Common Stock (except as provided in Subsection A. above or Subsection E. below),
any Warrantholder, upon exercise of Warrants, shall be entitled to receive, in
substitution for the Common Stock to which he would have become entitled upon
exercise immediately prior to such reorganization or reclassification, the
shares (of any class or classes) or other securities or property of the Company
(or cash) that he would have been entitled to receive at the same aggregate
Exercise Price upon such reorganization or reclassification if such Warrants had
been exercised immediately prior to the record date with respect to such event;
and in any such case, appropriate provision (as determined by the Board of
Directors of the Company, whose determination shall be conclusive and shall be
evidenced by a certified Board resolution filed with the Warrant Agent) shall be
made for the application of this Section 6 with respect to the rights and
interests thereafter of the Warrantholders (including but not limited to the
allocation of the Exercise Price between or among shares of classes of capital
stock), to the end that this Section 6 (including the adjustments of the number
of shares of Common Stock or other securities purchasable and the Exercise Price
thereof) shall thereafter be reflected, as nearly as reasonably practicable, in
all subsequent exercises of the Warrants for any shares or securities or other
property (or cash) thereafter deliverable upon the exercise of the Warrants.

                                       5
<PAGE>
   C. Whenever the number of shares of Common Stock or other securities
purchasable upon exercise of a Warrant is adjusted as provided in this Section
6, the Company will promptly file with the Warrant Agent a certificate signed by
the Chief Executive Officer or the President or the Chief Financial Officer of
the Company and by the Treasurer or an Assistant Treasurer or the Secretary or
an Assistant Secretary of the Company setting forth the number and kind of
securities or other property purchasable upon exercise of a Warrant, as so
adjusted, stating that such adjustments in the number or kind of shares or other
securities or property conform to the requirements of this Section 6, and
setting forth a brief statement of the facts accounting for such adjustments.
Promptly after receipt of such certificate, the Company, or the Warrant Agent at
the Company's request, will deliver, by first-class, postage prepaid mail, a
brief summary thereof (to be supplied by the Company) to the registered holders
of the outstanding Warrant Certificates; provided, however, that failure to file
or to give any notice required under this Subsection, or any defect therein,
shall not affect the legality or validity of any such adjustments under this
Section 6; and provided, further, that, where appropriate, such notice may be
given in advance and included as part of the notice required to be given
pursuant to Section 12 hereof.

   D. In case of any consolidation of the Company with, or merger of the Company
into, another corporation (other than a consolidation or merger which does not
result in any reclassification or change of the outstanding Common Stock), or in
case of any sale or conveyance to another corporation of the property of the
Company as an entirety or substantially as an entirety, the corporation formed
by such consolidation or merger or the corporation which shall have acquired
such assets, as the case may be, shall execute and deliver to the Warrant Agent
a supplemental warrant agreement providing that the holder of each Warrant then
outstanding shall have the right thereafter (until the expiration of such
Warrant) to receive, upon exercise of such Warrant, solely the kind and amount
of shares of stock and other securities and property (or cash) receivable upon
such consolidation, merger, sale or transfer by a holder of the number of shares
of Common Stock of the Company for which such Warrant might have been exercised
immediately prior to such consolidation, merger, sale or transfer. Such
supplemental warrant agreement shall provide for adjustments that shall be as
nearly equivalent as may be practicable to the adjustments provided in this
Section. The above provision of this Subsection shall similarly apply to
successive consolidations, mergers, sales or transfers.

      The Warrant Agent shall not be under any responsibility to determine the
correctness of any provision contained in any such supplemental warrant
agreement relating to either the kind or amount of shares of stock or securities
or property (or cash) purchasable by holders of Warrant Certificates upon the
exercise of their Warrants after any such consolidation, merger, sale or
transfer or of any adjustment to be made with respect thereto, but subject to
the provisions of Section 20 hereof, may accept as conclusive evidence of the
correctness of any such provisions, and shall be protected in relying upon, a
certificate of a firm of independent certified public accountants (who may be
the accountants regularly employed by the Company) with respect thereto.

   E. Irrespective of any adjustments in the number or kind of shares issuable
upon exercise of Warrants, Warrant Certificates theretofore or thereafter issued
may continue to express the same

                                       6
<PAGE>
price and number and kind of shares as are stated in the similar Warrant
Certificates initially issuable pursuant to this Warrant Agreement.

   F. The Company may retain a firm of independent public accountants of
recognized standing, which may be the firm regularly retained by the Company,
selected by the Board of Directors of the Company or the Executive Committee of
said Board, and not disapproved by the Warrant Agent, to make any computation
required under this Section, and a certificate signed by such firm shall, in the
absence of fraud or gross negligence, be conclusive evidence of the correctness
of any computation made under this Section.

   G. For the purpose of this Section, the term "COMMON STOCK" shall mean (i)
the Common Stock or (ii) any other class of stock resulting from successive
changes or reclassifications of such Common Stock consisting solely of changes
in par value, or from par value to no par value, or from no par value to par
value. In the event that at any time as a result of an adjustment made pursuant
to this Section, the holder of any Warrant thereafter surrendered for exercise
shall become entitled to receive any shares of capital stock of the Company
other than shares of Common Stock, thereafter the number of such other shares so
receivable upon exercise of any Warrant shall be subject to adjustment from time
to time in a manner and on terms as nearly equivalent as practicable to the
provisions with respect to the Common Stock contained in this Section, and all
other provisions of this Agreement, with respect to the Common Stock, shall
apply on like terms to any such other shares.

   H. The Company may, from time to time and to the extent permitted by law,
reduce the Exercise Price of the Warrants by any amount for a period of not less
than 20 days. If the Company so reduces the Exercise Price of such Warrants, it
will give not less than 15 days' notice of such decrease, which notice may be in
the form of a press release, and shall take such other steps as may be required
under applicable law in connection with any offers or sales of securities at the
reduced price.

Section 7. Exercise and Redemption of Warrants

      Unless the Warrants have been redeemed as provided in this Section 7, the
registered holder of any Warrant Certificate may exercise the Warrants evidenced
thereby, in whole at any time or in part from time to time at or prior to the
close of business, on the Expiration Date relating to such Warrant, subject to
the provisions of Section 9, at which time the Warrant Certificates shall be and
become wholly void and of no value. Warrants may be exercised by their holders
or redeemed by the Company as follows:

   A. Exercise of Warrants shall be accomplished upon surrender of the Warrant
Certificate evidencing such Warrants, with the Form of Election to Purchase on
the reverse side thereof duly filled in and executed, to the Warrant Agent at
its offices located at 59 Maiden Lane, Plaza Level, New York, New York 10038,
together with payment to the Warrant Agent of the Exercise Price (as of the date
of such surrender) of the Warrants then being exercised and an amount equal to
any applicable transfer tax and, if requested by the Company, any other taxes or
governmental charges which the Company may be required by law to collect in
respect of such exercise. Payment of the Exercise Price and other amounts may be
made by wire transfer of good funds, or

                                       7
<PAGE>
by certified or bank cashier's check, payable in lawful money of the United
States of America to the order of the Company. No adjustment shall be made for
any cash dividends, whether paid or declared, on any securities issuable upon
exercise of a Warrant. The Warrant Agent shall deposit or invest any and all
funds received in connection with the exercise of the Warrants in federally
insured, interest bearing accounts with a financial institution or institutions
designated by the Warrant Agent. The Warrant Agent shall have no liability with
respect to the performance of any such investments other than, in the case of
funds deposited in accounts maintained by the Warrant Agent, the liability of
the Warrant Agent to its depositors in such accounts generally. The Company
shall be entitled to the interest, if any, on funds deposited with the Warrant
Agent. The Warrant Agent shall remit any funds held by it as a result of the
exercise of the Warrants to the Company.

   B. Upon receipt of a Warrant Certificate, with the Form of Election to
Purchase duly filled in and executed, accompanied by payment of the Exercise
Price of the Warrants being exercised (and of an amount equal to any applicable
taxes or government charges as aforesaid), the Warrant Agent shall promptly
request from the Transfer Agent with respect to the securities to be issued and
deliver to or upon the order of the registered holder of such Warrant
Certificate, in such name or names as such registered holder may designate, a
certificate or certificates for the number of full shares of the securities to
be purchased, together with cash made available by the Company pursuant to
Section 8 hereof in respect of any fraction of a share of such securities
otherwise issuable upon such exercise. In addition, if it is required by law and
upon instruction by the Company, the Warrant Agent will deliver to each
Warrantholder a prospectus which complies with the provisions of Section 9 of
the Securities Act of 1933, as amended, and the Company agrees to supply the
Warrant Agent with sufficient number of prospectuses to effectuate that purpose.

   C. In case the registered holder of any Warrant Certificate shall exercise
fewer than all of the Warrants evidenced by such Warrant Certificate, the
Warrant Agent shall promptly countersign and deliver to the registered holder of
such Warrant Certificate, or to his duly authorized assigns, a new Warrant
Certificate or Certificates evidencing the number of Warrants that were not so
exercised.

   D. Each person in whose name any certificate for securities is issued upon
the exercise of Warrants shall for all purposes be deemed to have become the
holder of record of the securities represented thereby as of, and such
certificate shall be dated, the date upon which the Warrant Certificate was duly
surrendered in proper form and payment of the Exercise Price (and of any
applicable taxes or other governmental charges) was made; provided, however,
that if the date of such surrender and payment is a date on which the stock
transfer books of the Company are closed, such person shall be deemed to have
become the record holder of such shares as of, and the certificate for such
shares shall be dated, the next succeeding business day on which the stock
transfer books of the Company are open (whether before, on or after the
Expiration Date relating to such Warrant) and the Warrant Agent shall be under
no duty to deliver the certificate for such shares until such date. The Company
covenants and agrees that it shall not cause its stock transfer books to be
closed for a period of more than 20 consecutive business days except upon
consolidation, merger, sale of all or substantially all of its assets,
dissolution or liquidation or as otherwise provided by law.

                                       8
<PAGE>
   E. The Warrants outstanding at the time of a redemption may be redeemed at
the option of the Company, beginning six months after the date of the final
prospectus relating to the initial sale of the Warrants to the public, in whole
or in part on a pro-rata basis, by giving not less than 30 days prior notice as
provided in Section F, which notice may not be given before, but may be given at
any time after, the closing price of the Common Stock on the principal exchange
or market on which it is then traded has equaled or exceeded $_____ per share on
each of five (5) consecutive trading days that occur subsequent to the date of
this Warrant Agreement. The price at which Warrants may be redeemed (the
"REDEMPTION PRICE") is $0.25 per Warrant. On and after the redemption date the
holders of record of redeemed Warrants shall be entitled to payment of the
Redemption Price upon surrender of such redeemed Warrants to the Company at the
office of the Warrant Agent designated for that purpose.

   F. Notice of redemption of Warrants shall be given at least 30 days prior to
the redemption date by mailing, by first class mail, postage prepaid, a copy of
such notice to the Warrant Agent and to all of the holders of record of Warrants
at their respective addresses appearing on the books or transfer records of the
Company or such other address designated in writing by the holder of record to
the Warrant Agent not less than 40 days prior to the redemption date.

   G. From and after the redemption date, all rights of the Warrantholders
(except the right to receive the Redemption Price) shall terminate, but only if
(a) no later than one day prior to the redemption date the Company shall have
irrevocably deposited with the Warrant Agent as paying agent a sufficient amount
to pay on the redemption date the Redemption Price for all Warrants called for
redemption and (b) the notice of redemption shall have stated the name and
address of the Warrant Agent and the intention of the Company to deposit such
amount with the Warrant Agent no later than one day prior to the redemption
date.

   H. On the Redemption Date, the Warrant Agent shall pay to the holders of
record of redeemed Warrants all monies received by the Warrant Agent for the
redemption of Warrants to which the holders of record of such redeemed Warrants
who shall have surrendered their Warrants are entitled. The Warrant Agent shall
have no obligation to pay for the redemption of the Warrants except to the
extent that funds for such payment have been provided to it by the Company.

   I. Any amounts deposited with the Warrant Agent that are not required for
redemption of Warrants may be withdrawn by the Company. Any amounts deposited
with the Warrant Agent that shall be unclaimed after six months after the
redemption date shall be redelivered back to the Company, and thereafter the
holders of the Warrants called for redemption for which such funds were
deposited shall look solely to the Company for payment. The Company shall be
entitled to the interest, if any, on funds deposited with the Warrant Agent and
the holders of redeemed Warrants shall have no right to any such interest. The
Warrant Agent shall deposit or invest any and all funds deposited with it by the
Company in connection with any redemption in federally insured, interest bearing
accounts with a financial institution or institutions designated by the Warrant
Agent but shall have no liability with respect to the performance of any such
investments other than, in the case of funds deposited in accounts maintained by
the Warrant Agent, the liability of the Warrant Agent to its depositors in such
accounts, generally.

                                       9
<PAGE>
   J. If the Company fails to make a sufficient deposit with the Warrant Agent
as provided above, the holder of any Warrants called for redemption may at the
option of the holder (a) by notice to the Company declare the notice of
redemption a nullity as to such holder, or (b) maintain an action against the
Company for the Redemption Price. If the holder brings such an action, the
Company will pay reasonable attorneys' fees of the holder. If the holder fails
to bring an action against the Company for the Redemption Price within 60 days
after the redemption date, the holder shall be deemed to have elected to declare
the notice of redemption to be a nullity as to such holder and such notice shall
be without any force or effect as to such holder. Except as otherwise
specifically provided in this Paragraph J, a notice of redemption, once mailed
by the Company as provided in Paragraph F shall be irrevocable.

Section 8. Fractional Interests

      The Company shall not be required to issue any Warrant Certificate
evidencing a fraction of a Warrant or to issue fractions of shares of securities
on the exercise of the Warrants. If any fraction (calculated to the nearest
one-hundredth) of a Warrant or a share of securities would, except for the
provisions of this Section, be issuable on the exercise of any Warrant, the
Company shall, at its option, either purchase such fraction for an amount in
cash equal to the current value of such fraction computed on the basis of the
closing market price (as quoted on the principal market on which such securities
trade) on the trading day immediately preceding the day upon which such Warrant
Certificate was surrendered for exercise in accordance with Section 7 hereof or
issue the required fractional Warrant or share. By accepting a Warrant
Certificate, the holder thereof expressly waives any right to receive a Warrant
Certificate evidencing any fraction of a Warrant or to receive any fractional
share of securities upon exercise of a Warrant, except as expressly provided in
this Section 8.

Section 9. Reservation of Equity Securities

      The Company covenants that it will at all times reserve and keep
available, free from any pre-emptive rights, out of its authorized and unissued
equity securities, solely for the purpose of issue upon exercise of the
Warrants, such number of shares of equity securities of the Company as shall
then be issuable upon the exercise of all outstanding Warrants ("EQUITY
SECURITIES"). The Company covenants that all Equity Securities which shall be so
issuable shall, upon such issue, be duly authorized, validly issued, fully paid
and non-assessable.

      The Company covenants that if any equity securities, required to be
reserved for the purpose of issue upon exercise of the Warrants hereunder,
require registration with or approval of any governmental authority under any
federal or state law before such shares may be issued upon exercise of Warrants,
the Company will use all commercially reasonable efforts to cause such
securities to be duly registered, or approved, as the case may be, and, to the
extent practicable, take all such action in anticipation of and prior to the
exercise of the Warrants, including, without limitation, filing any and all
post-effective amendments to the Company's Registration Statement on Form S-2
(Registration No. 333-114044) necessary to permit a public offering of the
securities underlying the Warrants at any and all times during the term of this
Agreement, provided, however, that in no event shall such securities be issued,
and the Company is

                                       10
<PAGE>
authorized to refuse to honor the exercise of any Warrant, if such exercise
would result in the opinion of the Company's Board of Directors, upon advice of
counsel, in the violation of any law; and provided further that, in the case of
a Warrant exercisable solely for securities listed on a securities exchange or
for which there are at least two independent market makers, in lieu of obtaining
such registration or approval, the Company may elect to redeem Warrants
submitted to the Warrant Agent for exercise for a price equal to the difference
between the aggregate low asked price, or closing price, as the case may be, of
the securities for which such Warrant is exercisable on the date of such
submission and the Exercise Price of such Warrants; in the event of such
redemption, the Company will pay to the holder of such Warrants the
above-described redemption price in cash within 10 business days after receipt
of notice from the Warrant Agent that such Warrants have been submitted for
exercise.

Section 10. Reduction of Exercise Price Below Par Value

      Before taking any action that would cause an adjustment pursuant to
Section 6 hereof reducing the portion of the Exercise Price required to purchase
one share of capital stock below the then par value (if any) of a share of such
capital stock, the Company will use its best efforts to take any corporate
action which, in the opinion of its counsel, may be necessary in order that the
Company may validly and legally issue fully paid and non-assessable shares of
such capital stock.

Section 11. Payment of Taxes

      The Company covenants and agrees that it will pay when due and payable any
and all federal and state documentary stamp and other original issue taxes which
may be payable in respect of the original issuance of the Warrant Certificates,
or any shares of Common Stock or other securities upon the exercise of Warrants.
The Company shall not, however, be required (i) to pay any tax which may be
payable in respect of any transfer involved in the transfer and delivery of
Warrant Certificates or the issuance or delivery of certificates for Common
Stock or other securities in a name other than that of the registered holder of
the Warrant Certificate surrendered for purchase or (ii) to issue or deliver any
certificate for shares of Common Stock or other securities upon the exercise of
any Warrant Certificate until any such tax shall have been paid, all such tax
being payable by the holder of such Warrant Certificate at the time of
surrender.

Section 12. Notice of Certain Corporate Action

      In case the Company after the date hereof shall propose (i) to offer to
the holders of Common Stock, generally, rights to subscribe to or purchase any
additional shares of any class of its capital stock, any evidences of its
indebtedness or assets, or any other rights or options or (ii) to effect any
reclassification of Common Stock (other than a reclassification involving merely
the subdivision or combination of outstanding shares of Common Stock) or any
capital reorganization, or any consolidation or merger to which the Company is a
party and for which approval of any stockholders of the Company is required, or
any sale, transfer or other disposition of its property and assets substantially
as an entirety, or the liquidation, voluntary or involuntary dissolution or
winding-up of the Company, then, in each such case, the Company shall file with
the Warrant Agent and the Company, or the Warrant Agent on the Company's

                                       11
<PAGE>
behalf, and at the Company's request, shall mail (by first-class, postage
prepaid mail) to all registered holders of the Warrant Certificates notice of
such proposed action, which notice shall specify the date on which the books of
the Company shall close or a record be taken for such offer of rights or
options, or the date on which such reclassification, reorganization,
consolidation, merger, sale, transfer, other disposition, liquidation, voluntary
or involuntary dissolution or winding-up shall take place or commence, as the
case may be, and which shall also specify any record date for determination of
holders of Common Stock entitled to vote thereon or participate therein and
shall set forth such facts with respect thereto as shall be reasonably necessary
to indicate any adjustments in the Exercise Price and the number or kind of
shares or other securities purchasable upon exercise of Warrants which will be
required as a result of such action. Such notice shall be filed and mailed in
the case of any action covered by clause (i) above, at least ten days prior to
the record date for determining holders of the Common Stock for purposes of such
action or, if a record is not to be taken, the date as of which the holders of
shares of Common Stock of record are to be entitled to such offering; and, in
the case of any action covered by clause (ii) above, at least 20 days prior to
the earlier of the date on which such reclassification, reorganization,
consolidation, merger, sale, transfer, other disposition, liquidation, voluntary
or involuntary dissolution or winding-up is expected to become effective and the
date on which it is expected that holders of shares of Common Stock of record on
such date shall be entitled to exchange their shares for securities or other
property deliverable upon such reclassification, reorganization, consolidation,
merger, sale, transfer, other disposition, liquidation, voluntary or involuntary
dissolution or winding-up.

      Failure to give any such notice or any defect therein shall not affect the
legality or validity of any transaction listed in this Section 12.

Section 13. Disposition of Proceeds on Exercise of Warrant Certificates, etc.

      The Warrant Agent shall account promptly to the Company with respect to
Warrants exercised and concurrently pay to the Company all moneys received by
the Warrant Agent for the purchase of securities or other property through the
exercise of such Warrants.

      The Warrant Agent shall keep copies of this Agreement available for
inspection by Warrantholders during normal business hours at its stock transfer
office. Copies of this Agreement may be obtained upon written request addressed
to the Warrant Agent at its stock transfer office at 6201 15th Avenue, Brooklyn,
New York 11219.

Section 14. Warrantholder Not Deemed a Stockholder

      No Warrantholder, as such, shall be entitled to vote, receive dividends or
be deemed the holder of Common Stock or any other securities of the Company
which may at any time be issuable on the exercise of the Warrants represented
thereby for any purpose whatever, nor shall anything contained herein or in any
Warrant Certificate be construed to confer upon any Warrantholder, as such, any
of the rights of a stockholder of the Company or any right to vote for the
election of directors or upon any matter submitted to stockholders at any
meeting thereof, or to give or withhold consent to any corporate action (whether
upon any recapitalization, issuance of stock, reclassification of stock, change
of par value or change of stock to no par value,

                                       12
<PAGE>
consolidation, merger, conveyance or otherwise), or to receive notice of
meetings or other actions affecting stockholders (except as provided in Section
12 hereof), or to receive dividend or subscription rights, or otherwise, until
such Warrant Certificate shall have been exercised in accordance with the
provisions hereof and the receipt of the Exercise Price and any other amounts
payable upon such exercise by the Warrant Agent.

Section 15. Right of Action

      All rights of action in respect to this Agreement are vested in the
respective registered holders of the Warrant Certificates; and any registered
holder of any Warrant Certificate, without the consent of the Warrant Agent or
of any other holder of a Warrant Certificate, may, in his own behalf for his own
benefit, enforce, and may institute and maintain any suit, action or proceeding
against the Company suitable to enforce, or otherwise in respect of, his right
to exercise the Warrants evidenced by such Warrant Certificate, for the purchase
of shares of the Common Stock in the manner provided in the Warrant Certificate
and in this Agreement.

Section 16. Agreement of Holders of Warrant Certificates

      Every holder of a Warrant Certificate by accepting the same consents and
agrees with the Company, the Warrant Agent and with every other holder of a
Warrant Certificate that:

   A. the Warrant Certificates are transferable on the registry books of the
Warrant Agent only upon the terms and conditions set forth in this Agreement;
and

   B. the Company and the Warrant Agent may deem and treat the person in whose
name the Warrant Certificate is registered as the absolute owner of the Warrant
(notwithstanding any notation of ownership or other writing thereon made by
anyone other than the Company or the Warrant Agent) for all purposes whatever
and neither the Company nor the Warrant Agent shall be affected by any notice to
the contrary.

Section 17. Cancellation of Warrant Certificates

      In the event that the Company shall purchase or otherwise acquire any
Warrant Certificate or Certificates after the issuance thereof, such Warrant
Certificate or Certificates shall thereupon be delivered to the Warrant Agent
and be canceled by it and retired. The Warrant Agent shall also cancel any
Warrant Certificate delivered to it for exercise, in whole or in part, or
delivered to it for transfer, split-up, combination or exchange. Warrant
Certificates so canceled shall be retained by the Warrant Agent or disposed of
in accordance with its customary business practices relating to such matters;
provided that the Warrant Agent shall give the Company notice prior to its
disposition or destruction of the Warrant Certificates.

Section 18. Concerning the Warrant Agent

      The Company agrees to pay to the Warrant Agent from time to time, upon
receipt of a written demand of the Warrant Agent, reasonable compensation for
all services rendered by it hereunder and also its reasonable expenses,
including counsel fees, and other disbursements

                                       13
<PAGE>
incurred in the administration and execution of this Agreement and the exercise
and performance of its duties hereunder. The Warrant Agent agrees to use its
best efforts to submit in advance a written estimate of any costs in excess of
$2,500 that it expects to incur in the exercise and performance of its duties
hereunder. The Company also agrees to indemnify the Warrant Agent for, and to
hold it harmless against, any loss, liability or expense, incurred without gross
negligence, bad faith or willful misconduct on the part of the Warrant Agent,
arising out of or in connection with the acceptance and administration of this
Agreement.

Section 19. Merger or Consolidation or Change of Name of Warrant Agent

      Any corporation into which the Warrant Agent may be merged or with which
it may be consolidated, or any corporation resulting from any merger or
consolidation to which the Warrant Agent shall be a party, or any corporation
succeeding to the corporate trust business of the Warrant Agent, shall be the
successor to the Warrant Agent hereunder without the execution or filing of any
paper or any further act on the part of any of the parties hereto, provided that
such corporation would be eligible for appointment as a successor warrant agent
under the provisions of Section 21 hereof. In case at the time such successor to
the Warrant Agent shall succeed to the agency created by this Agreement, any of
the Warrant Certificates shall have been countersigned but not delivered, any
such successor to the Warrant Agent may adopt the countersignature of the
original Warrant Agent and deliver such Warrant Certificates so countersigned;
and in case at that time any of the Warrant Certificates shall not have been
countersigned, any successor to the Warrant Agent may countersign such Warrant
Certificates either in the name of the predecessor Warrant Agent or in the name
of the successor Warrant Agent; and in all such cases such Warrant Certificates
shall have the full force provided in the Warrant Certificates and in this
Agreement.

      In case at any time the name of the Warrant Agent shall be changed and at
such time any of the Warrant Certificates shall have been countersigned but not
delivered, the Warrant Agent may adopt the countersignature under its prior name
and deliver Warrant Certificates so countersigned; and in case at that time any
of the Warrant Certificates shall not have been countersigned, the Warrant Agent
may countersign such Warrant Certificates either in its prior name or in its
changed name; and in all such cases such Warrant Certificates shall have the
full force provided in the Warrant Certificates and in this Agreement.

Section 20. Duties of Warrant Agent

      The Warrant Agent undertakes the duties and obligations imposed by this
Agreement upon the following terms and conditions, by all of which the Company
and the holders of Warrant Certificates, by their acceptance thereof, shall be
bound:

   A. The Warrant Agent may consult with counsel satisfactory to it (who may be
counsel for the Company), and the opinion of such counsel shall be full and
complete authorization and protection to the Warrant Agent as to any action
taken, suffered or omitted by it in good faith and in accordance with such
opinion; provided, however, that the Warrant Agent shall have exercised
reasonable care in the selection of such counsel. Fees and expenses of such
counsel, to the extent reasonable, shall be paid by the Company.

                                       14
<PAGE>
   B. Whenever in the performance of its duties under this Agreement, the
Warrant Agent shall deem it necessary or desirable that any fact or matter be
proved or established by the Company prior to taking or suffering any action
hereunder, such fact or matter (unless other evidence in respect thereof be
herein specifically prescribed) may be deemed to be conclusively proved and
established by a certificate signed by a Chairman or co-Chairman of the Board or
the President or a Vice President or the Secretary of the Company and delivered
to the Warrant Agent; and such certificate shall be full authorization to the
Warrant Agent for any action taken or suffered in good faith by it under the
provisions of this Agreement in reliance upon such certificate.

   C. The Warrant Agent shall be liable hereunder only for its own gross
negligence, bad faith or willful misconduct.

   D. The Warrant Agent shall not be liable for or by reason of any of the
statements of fact or recitals contained in this Agreement or in the Warrant
Certificates (except its countersignature on the Warrant Certificates and such
statements or recitals as describe the Warrant Agent or action taken or to be
taken by it) or be required to verify the same, but all such statements and
recitals are and shall be deemed to have been made by the Company only.

   E. The Warrant Agent shall not be under any responsibility in respect of the
validity of this Agreement or the execution and delivery hereof (except the due
execution hereof by the Warrant Agent) or in respect of the validity or
execution of any Warrant Certificate (except its countersignature thereof); nor
shall it be responsible for any breach by the Company of any covenant or
condition contained in this Agreement or in any Warrant Certificate; nor shall
it be responsible for the making of any change in the number of shares of Common
Stock for which a Warrant is exercisable required under the provisions of
Section 6 or responsible for the manner, method or amount of any such change or
the ascertaining of the existence of facts that would require any such
adjustment or change (except with respect to the exercise of Warrant
Certificates after actual notice of any adjustment of the Exercise Price); nor
shall it by any act hereunder be deemed to make any representation or warranty
as to the authorization or reservation of any shares of Common Stock to be
issued pursuant to this Agreement or any Warrant Certificate or as to whether
any shares of Common Stock will, when issued, be validly issued, fully paid and
non-assessable.

   F. The Warrant Agent shall be under no obligation to institute any action,
suit or legal proceeding or take any other action likely to involve expense
unless the Company or one or more registered holders of Warrant Certificates
shall furnish the Warrant Agent with reasonable security and indemnity for any
costs and expenses which may be incurred. All rights of action under this
Agreement or under any of the Warrants may be enforced by the Warrant Agent
without the possession of any of the Warrants or the production thereof at any
trial or other proceeding relative thereto, and any such action, suit or
proceeding instituted by the Warrant Agent shall be brought in its name as
Warrant Agent, and any recovery of judgment shall be for the ratable benefit of
the registered holders of the Warrant Certificates, as their respective rights
or interests may appear.

                                       15
<PAGE>
   G. The Warrant Agent and any stockholder, director, officer or employee of
the Warrant Agent may buy, sell or deal in any of the Warrants or other
securities of the Company or become pecuniarily interested in any transaction in
which the Company may be interested, or contract with or lend money to or
otherwise act as fully and freely as though it were not Warrant Agent under this
Agreement. Nothing herein shall preclude the Warrant Agent from acting in any
other capacity for the Company or for any other legal entity.

   H. The Warrant Agent is hereby authorized and directed to accept instructions
with respect to the performance of its duties hereunder from a Chairman or
co-Chairman of the Board or President or the Chief Financial Officer or the
Secretary or the Controller of the Company, and to apply to such officers for
advice or instructions in connection with the Warrant Agent's duties, and it
shall not be liable for any action taken or suffered or omitted by it in good
faith in accordance with instructions of any such officer.

   I. The Warrant Agent will not be responsible for any failure of the Company
to comply with any of the covenants contained in this Agreement or in the
Warrant Certificates to be complied with by the Company.

   J. The Warrant Agent may execute and exercise any of the rights or powers
hereby vested in it or perform any duty hereunder either itself or by or through
its attorneys, agents or employees and the Warrant Agent shall not be answerable
or accountable for any act, default, neglect or misconduct of any such
attorneys, agents or employees or for any loss to the Company resulting from
such neglect or misconduct; provided, however, that reasonable care shall have
been exercised in the selection and continued employment of such attorneys,
agents and employees.

   K. The Warrant Agent will not incur any liability or responsibility to the
Company or to any holder of any Warrant Certificate for any action taken, or any
failure to take action, in reliance on any notice, resolution, waiver, consent,
order, certificate, or other paper, document or instrument reasonably believed
by the Warrant Agent to be genuine and to have been signed, sent or presented by
the proper party or parties.

   L. The Warrant Agent will act hereunder solely as agent of the Company in a
ministerial capacity, and its duties will be determined solely by the provisions
hereof. The Warrant Agent will not be liable for anything which it may do or
refrain from doing in connection with this Agreement except for its own gross
negligence, bad faith or willful conduct.

Section 21. Change of Warrant Agent

      The Warrant Agent may resign and be discharged from its duties under this
Agreement upon 30 days' prior notice in writing mailed, by registered or
certified mail, to the Company. The Company may remove the Warrant Agent or any
successor warrant agent upon 30 days' prior notice in writing, mailed to the
Warrant Agent or successor warrant agent, as the case may be, by registered or
certified mail. If the Warrant Agent shall resign or be removed or shall
otherwise become incapable of acting, the Company shall appoint a successor to
the Warrant Agent and shall, within 15 days following such appointment, give
notice thereof in writing to each registered holder of the Warrant Certificates.
If the Company shall fail to make such

                                       16
<PAGE>
appointment within a period of 15 days after giving notice of such removal or
after it has been notified in writing of such resignation or incapacity by the
resigning or incapacitated Warrant Agent, then the Company agrees to perform the
duties of the Warrant Agent hereunder until a successor Warrant Agent is
appointed. After appointment and execution of a copy of this Agreement in effect
at that time, the successor Warrant Agent shall be vested with the same powers,
rights, duties and responsibilities as if it had been originally named as
Warrant Agent without further act or deed; but the former Warrant Agent shall
deliver and transfer to the successor Warrant Agent, within a reasonable time,
any property at the time held by it hereunder, and execute and deliver any
further assurance, conveyance, act or deed necessary for the purpose. Failure to
give any notice provided for in this Section, however, or any defect therein
shall not affect the legality or validity of the resignation or removal of the
Warrant Agent or the appointment of the successor warrant agent, as the case may
be.

Section 22. Issuance of New Warrant Certificates

      Notwithstanding any of the provisions of this Agreement or the several
Warrant Certificates to the contrary, the Company may, at its option, issue new
Warrant Certificates in such form as may be approved by its Board of Directors
to reflect any adjustment or change in the Exercise Price or the number or kind
of shares purchasable under the several Warrant Certificates made in accordance
with the provisions of this Agreement.

Section 23. Notices

      Notice or demand pursuant to this Agreement to be given or made on the
Company by the Warrant Agent or by the registered holder of any Warrant
Certificate shall be sufficiently given or made if sent by first class or
registered mail, postage prepaid, addressed (until another address is filed in
writing by the Company with the Warrant Agent) as follows:

                     EDGAR Online, Inc.
                     50 Washington Street
                     Norwalk, CT 06854
                     Attention:  Chief Financial Officer

      Subject to the provisions of Section 21, any notice pursuant to this
Agreement to be given or made by the Company or by the holder of any Warrant
Certificate to or on the Warrant Agent shall be sufficiently given or made if
sent by first-class or registered mail, postage prepaid, addressed (until
another address is filed in writing by the Warrant Agent with the Company) as
follows:

                         American Stock Transfer and Trust Company
                         59 Maiden Lane, Plaza Level
                         New York, New York  10038
                         Attention:  Office of the General Counsel

      Any notice or demand authorized to be given or made to the registered
holder of any Warrant Certificate under this Agreement shall be sufficiently
given or made if sent by first-class

                                       17
<PAGE>
or registered mail, postage prepaid, to the last address of such holder as it
shall appear on the registers maintained by the Warrant Agent.

Section 24. Modification of Agreement

      The Warrant Agent may, without the consent or concurrence of the
Warrantholders, by supplemental agreement or otherwise, concur with the Company
in making any changes or corrections in this Agreement that the Warrant Agent
shall have been advised by counsel (who may be counsel for the Company) are
necessary or desirable to cure any ambiguity or to correct any defective or
inconsistent provision or clerical omission or mistake or manifest error herein
contained, or to make any other provisions in regard to matters or questions
arising hereunder and which shall not be inconsistent with the provisions of the
Warrant Certificates and which shall not adversely affect the interests of the
Warrantholders. As of the date hereof, this Agreement contains the entire and
only agreement, understanding, representation, condition, warranty or covenant
between the parties hereto with respect to the matters herein, supersedes any
and all other agreements between the parties hereto relating to such matters,
and may be modified or amended only by a written agreement signed by both
parties hereto pursuant to the authority granted by the first sentence of this
Section.

Section 25. Successors

      All the covenants and provisions of this Agreement by or for the benefit
of the Company or the Warrant Agent shall bind and inure to the benefit of their
respective successors and assigns hereunder.

Section 26. New York Contract

      This Agreement and each Warrant Certificate issued hereunder shall be
deemed to be a contract made under the laws of the State of New York and for all
purposes shall be construed in accordance with the laws of said State.

Section 27. Termination

      This Agreement shall terminate as of the close of business on the
Expiration Date, or such earlier date upon which all Warrants shall have been
exercised or redeemed, except that the Warrant Agent shall account to the
Company as to all Warrants outstanding and all cash held by it as of the close
of business on the Expiration Date.

Section 28. Benefits of this Agreement

      Nothing in this Agreement or in the Warrant Certificates shall be
construed to give to any person or corporation other than the Company, the
Warrant Agent, and their respective successors and assigns hereunder and the
registered holders of the Warrant Certificates any legal or equitable right,
remedy or claim under this Agreement; but this Agreement shall be for the

                                       18
<PAGE>
sole and exclusive benefit of the Company, the Warrant Agent, their respective
successors and assigns hereunder and the registered holders of the Warrant
Certificates.

Section 29. Descriptive Headings

      The descriptive headings of the several Sections of this Agreement are
inserted for convenience only and shall not control or affect the meaning or
construction of any of the provisions hereof.

Section 30. Counterparts

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

      IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed, all as of the day and year first above written.

EDGAR Online, Inc.

By:____________________________
     Name:  Susan Strausberg
     Title:   Chief Executive Officer

American Stock Transfer and Trust Company

By:_________________________
     Name:  Herbert Lemmer, Esq.
     Title:   General Counsel

                                       19
<PAGE>

                                                                       EXHIBIT A

                 VOID AFTER 5 P.M. PACIFIC TIME ON _______, 2009

                        WARRANTS TO PURCHASE COMMON STOCK

W_____                                                    _________ Warrants

                                                 EDGAR ONLINE, INC.

                                                 CUSIP ___________

THIS CERTIFIES THAT

or registered assigns, is the registered holder of the number of Warrants
("WARRANTS") set forth above. Each Warrant, unless and until redeemed by the
Company as provided in the Warrant Agreement, hereinafter more fully described
(the "WARRANT AGREEMENT") entitles the holder thereof to purchase from EDGAR
Online, Inc., a corporation incorporated under the laws of the State of Delaware
the ("COMPANY"), subject to the terms and conditions set forth hereinafter and
in the Warrant Agreement, at any time on or after ______, 2004 and before the
close of business on ______, 2009 ("Expiration Date"), one fully paid and
non-assessable share of Common Stock of the Company ("Common Stock") upon
presentation and surrender of this Warrant Certificate, with the instructions
for the registration and delivery of Common Stock filled in, at the stock
transfer office in 59 Maiden Lane, New York, New York 10038, of American Stock
Transfer and Trust Company, Warrant Agent of the Company ("WARRANT AGENT") or of
its successor warrant agent or, if there be no successor warrant agent, at the
corporate offices of the Company, and upon payment of the Exercise Price (as
defined in the Warrant Agreement) and any applicable taxes paid either in cash,
or by certified or official bank check, payable in lawful money of the United
States of America to the order of the Company. Each Warrant initially entitles
the holder to purchase one share of Common Stock for $____. The number and kind
of securities or other property for which the Warrants are exercisable are
subject to adjustment in certain events, such as mergers, splits, stock
dividends, splits and the like, to prevent dilution. The Company may redeem any
or all outstanding and unexercised warrants by giving not less than 30 days
prior notice at any time after the closing price of the Common Stock on the
principal exchange on which it is traded has equaled or exceeded $_____ per
share on each of five consecutive trading days subsequent to _______, 2004. The
Redemption Price is $0.25 per Warrant. All Warrants not theretofore exercised
will expire on the Expiration Date.

                                       i

<PAGE>

         This Warrant Certificate is subject to all of the terms, provisions and
conditions of the Warrant Agreement, dated as of _______, 2004, between the
Company and the Warrant Agent, to all of which terms, provisions and conditions
the registered holder of this Warrant Certificate consents by acceptance hereof.
The Warrant Agreement is incorporated herein by reference and made a part hereof
and reference is made to the Warrant Agreement for a full description of the
rights, limitations of rights, obligations, duties and immunities of the Warrant
Agent, the Company and the holders of the Warrant Certificates. Copies of the
Warrant Agreement are available for inspection at the stock transfer office of
the Warrant Agent or may be obtained upon written request addressed to the
Company at EDGAR Online, Inc., 50 Washington Street, Norwalk, CT 06854,
Attention: _______________.

         The Company shall not be required upon the exercise of the Warrants
evidenced by this Warrant Certificate to issue fractions of Warrants, Common
Stock or other securities, but shall make adjustment therefor in cash on the
basis of the current market value of any fractional interest as provided in the
Warrant Agreement.

         In certain cases, the sale of securities by the Company upon exercise
of Warrants would violate the securities laws of the United States, certain
states thereof or other jurisdictions. The Company has agreed to use all
commercially reasonable efforts to cause a registration statement to continue to
be effective during the term of the Warrants with respect to such sales under
the Securities Act of 1933, and to take such action under the laws of various
states as may be required to cause the sale of securities upon exercise to be
lawful. However, the Company will not be required to honor the exercise of
Warrants if, in the opinion of the Board of Directors, upon advice of counsel,
the sale of securities upon such exercise would be unlawful. In certain cases,
the Company may, but is not required to, purchase Warrants submitted for
exercise for a cash price equal to the difference between the market price of
the securities obtainable upon such exercise and the exercise price of such
Warrants.

         This Warrant Certificate, with or without other Certificates, upon
surrender to the Warrant Agent, any successor warrant agent or, in the absence
of any successor warrant agent, at the corporate offices of the Company, may be
exchanged for another Warrant Certificate or Certificates evidencing in the
aggregate the same number of Warrants as the Warrant Certificate or Certificates
so surrendered. If the Warrants evidenced by this Warrant Certificate shall be
exercised in part, the holder hereof shall be entitled to receive upon surrender
hereof another Warrant Certificate or Certificates evidencing the number of
Warrants not so exercised.

         No holder of this Warrant Certificate, as such, shall be entitled to
vote, receive dividends or be deemed the holder of Common Stock or any other
securities of the Company which may at any time be issuable on the exercise
hereof for any purpose whatever, nor shall anything contained in the Warrant
Agreement or herein be construed to confer upon the holder of this Warrant
Certificate, as such, any of the rights of a stockholder of the Company or any
right to vote for the election of directors or upon any matter submitted to
stockholders at any meeting thereof or give or withhold consent to any corporate
action (whether upon any matter submitted to stockholders at any meeting
thereof, or give or withhold consent to any merger, recapitalization, issuance
of stock, reclassification of stock, change of par value or change of

                                       ii

<PAGE>

stock to no par value, consolidation, conveyance or otherwise) or to receive
notice of meetings or other actions affecting stockholders (except as provided
in the Warrant Agreement) or to receive dividends or subscription rights or
otherwise until the Warrants evidenced by this Warrant Certificate shall have
been exercised and the Common Stock purchasable upon the exercise thereof shall
have become deliverable as provided in the Warrant Agreement.

         If this Warrant Certificate shall be surrendered for exercise within
any period during which the transfer books for the Company's Common Stock or
other class of stock purchasable upon the exercise of the Warrants evidenced by
this Warrant Certificate are closed for any purpose, the Company shall not be
required to make delivery of certificates for shares purchasable upon such
transfer until the date of the reopening of said transfer books.

         Every holder of this Warrant Certificate by accepting the same consents
and agrees with the Company, the Warrant Agent, and with every other holder of a
Warrant Certificate that:

         (a) this Warrant Certificate is transferable on the registry books of
the Warrant Agent only upon the terms and conditions set forth in the Warrant
Agreement, and

         (b) the Company and the Warrant Agent may deem and treat the person in
whose name this Warrant Certificate is registered as the absolute owner hereof
(notwithstanding any notation of ownership or other writing thereon made by
anyone other than the Company or the Warrant Agent) for all purposes whatever
and neither the Company nor the Warrant Agent shall be affected by any notice to
the contrary. The Company shall not be required to issue or deliver any
certificate for shares of Common Stock or other securities upon the exercise of
Warrants evidenced by this Warrant Certificate until any tax which may be
payable in respect thereof by the holder of this Warrant Certificate pursuant to
the Warrant Agreement shall have been paid, such tax being payable by the holder
of this Warrant Certificate at the time of surrender.

                                      iii

<PAGE>

         This Warrant Certificate shall not be valid or obligatory for any
purpose until it shall have been countersigned by the Warrant Agent.

         WITNESS the facsimile signatures of the proper officers of the Company
and its corporate seal.

Dated:
                                           EDGAR Online, Inc.

                                           By:________________________________
                                                Chief Executive Officer

                                           Attest:____________________________
                                           Secretary

Countersigned

_________________________________________

By:_________________________
   Authorized Officer

                                       iv

<PAGE>

                                          [TO BE PRINTED ON BACK OF CERTIFICATE]

                          FORM OF ELECTION TO PURCHASE

The undersigned holder hereby exercises the right to purchase _________________
of the shares of common stock (the "Warrant Shares") of EDGAR ONLINE, INC., a
Delaware corporation (the "Company"), evidenced by the attached Warrant (the
"Warrant"). Capitalized terms used herein and not otherwise defined have the
respective meanings set forth in the Warrant.

         1. Payment of Warrant Exercise Price. The holder has paid in connection
with this exercise the sum of $___________________ to the Company in accordance
with the terms of the Warrant.

         2. Delivery of Warrant Shares. The Company shall deliver to the holder
__________ Warrant Shares in accordance with the terms of the Warrant.

         Dated: _____________ __, ______

                                              _________________________________
                                              (Name of Registered Holder)

                                              By:  ____________________________
                                                    Name:
                                                    Title:

                               FORM OF ASSIGNMENT

FOR VALUE RECEIVED, the undersigned does hereby assign and transfer to
________________, Federal Identification No. __________, a warrant to purchase
____________ shares of the common stock of EDGAR ONLINE, INC, a Delaware
corporation, represented by warrant certificate no. _____, standing in the name
of the undersigned on the books of said corporation. The undersigned does hereby
irrevocably constitute and appoint ______________, attorney to transfer the
warrants of said corporation, with full power of substitution in the premises.

         Dated:  _____________ __, ______

                                                  ___________________________
                                                  (Name of Registered Holder)

                                                  By:_________________________
                                                        Name:
                                                        Title:

                                       i

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