Document:

<PAGE>

                         UNANIMOUS SHAREHOLDERS' AGREEMENT

              THIS AGREEMENT is made as of the 26th day of October, 1999.

A M O N G:

              724 SOLUTIONS INC., a corporation amalgamated under the laws of
              Ontario, having its principal place of business at 4101 Yonge
              Street, Suite 702, Toronto, Ontario, Canada M2P 1N6 (the
              "CORPORATION")

                                       -AND-

              BLUE SKY CAPITAL CORPORATION, a corporation incorporated under the
              laws of Ontario, having its principal place of business at 181 Bay
              Street, Suite 2810, Toronto, Ontario, Canada M5J 2T3 ("BLUE SKY")

                                       -AND-

              1319079 ONTARIO INC., a corporation incorporated under the laws of
              Ontario, having its principal place of business at 181 Bay Street,
              Suite 2810, Toronto, Ontario, Canada M5J 2T3 ("1319079")

                                       -AND-

              BANK OF MONTREAL, a chartered Canadian bank, having an office at
              55 Bloor Street West, 3rd Floor, Toronto, Ontario, Canada M4W 3N5
              ("BMO")

                                       -AND-

              BANK OF AMERICA CORPORATION, a corporation incorporated under the
              laws of Delaware, having a place of business at Bank of America
              Corporate Center, 100 North Tryon Street, Charlotte, North
              Carolina, U.S.A. 28255 ("BAC")

                                       -AND-

              CITICORP STRATEGIC TECHNOLOGY CORPORATION, a corporation
              incorporated under the laws of Delaware, having a place of
              business at 399 Park Avenue, New York, New York, U.S.A. 10043
              ("CSTC")

                                       -AND-

              CITICORP, a corporation incorporated under the laws of Delaware,
              having a place of business at 399 Park Avenue, New York, New York,
              U.S.A. 10043 ("CITICORP")
<PAGE>
                                       - 2 -

                                       -AND-

              SONERA CORPORATION, a corporation incorporated under the laws of
              Finland, having a place of business at Fin-00051, Sonera,
              Teollisuuskatu 15, FIN-00510-Helsinki, Finland ("SONERA")

                                       -AND-

              WFC HOLDINGS CORPORATION, a corporation formed under the laws of
              the State of Delaware, having an office at 455 Market Street, San
              Francisco, California, U.S.A. 94105 ("WFC")

                                       -AND-

              FINANCIAL TECHNOLOGY VENTURES (Q), L.P., a limited partnership
              established under the laws of the State of Delaware, having a
              principal office at 601 California Street, 22nd Floor, San
              Francisco, CA 94108 ("FTV1")

                                       -AND-

              FINANCIAL TECHNOLOGY VENTURES, L.P., a limited partnership
              established under the laws of the State of Delaware, having a
              principal office at 601 California Street, 22nd Floor, San
              Francisco, CA 94108 ("FTV2")

              (FTV1 and FTV2 shall hereinafter be referred to as "FTV")

                                       -AND-

              HSBC INVESTMENT BANK PLC., a company duly organized and existing
              under the laws of England, having a registered office at Thames
              Exchange, 10 Queen Street Place, London, England, EC4R 1BL
              ("HSBC")

              WHEREAS, as at the date hereof, there are 14,701,213 issued and
outstanding Common Shares and securities representing the right to subscribe for
333,334 Common Shares, in each case, registered and beneficially owned as
follows:

                         <TABLE>
                         <S>                                  <C>
                         Blue Sky                             2,000,000

                         1319079                              2,000,000

                         BMO                                  1,714,285

                         BAC                                  1,600,000

                         CSTC                                 3,200,000

                         Sonera                               3,200,000

                         WFC                                    392,157
                         </TABLE>
<PAGE>
                                       - 3 -

                         <TABLE>
                         <S>             <C>
                         FTV1                                   252,105

                         FTV2                                     9,333

                         HSBC                                   333,333

                                         and the HSBC Warrant to
                                         purchase, pursuant to and in
                                         accordance with the provisions
                                         thereof, 333,334 Common Shares
                         </TABLE>

              AND WHEREAS the parties wish to enter into this Agreement to amend
and restate the provisions of the October 19, 1999 Unanimous Shareholders'
Agreement as herein provided for the purposes of, among other things,
recognising HSBC as a Strategic Partner, and in order to make arrangements
regarding the organization and affairs of the Corporation and the transfer of
their securities of the Corporation under certain circumstances;

              NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of
the mutual covenants herein contained and other good and valuable consideration
(the receipt and sufficiency of which is hereby acknowledged), the parties
covenant and agree as follows:

                                     ARTICLE 1
                           DEFINITIONS AND INTERPRETATION

1.1           DEFINITIONS.

              As used in this Agreement, the following words and phrases shall
have the following meanings, respectively:

       (a)    "1933 ACT" - means the UNITED STATES SECURITIES ACT OF 1933, as
              amended;

       (b)    "ACT" - means the BUSINESS CORPORATIONS ACT (Ontario);

       (c)    "AFFILIATE" - has the following meaning:

              (i)     one body corporate (as defined in Section 1.1(eee)) shall
                      be affiliated with another body corporate if, but only
                      if, one of them is the Subsidiary of the other or both
                      are Subsidiaries of the same body corporate or each of
                      them is controlled by the same person;

              (ii)    for the purposes of the definition of "Affiliate" and
                      "Subsidiary", a body corporate shall be considered to be
                      controlled by a person or by two or more bodies corporate
                      if, but only if:

                      (A)    voting securities of the first-mentioned body
                             corporate carrying more than 50% of the votes for
                             the election of directors are held, other than by
                             way of security only, by or for the benefit of
                             such
<PAGE>
                                       - 4 -

                             other person or by or for the benefit of such
                             other bodies corporate; and

                      (B)    the votes carried by such securities are
                             sufficient, if exercised, to elect a majority of
                             the board of directors of the first-mentioned body
                             corporate;

              (iii)   an "Affiliate" of a specified person that is not a body
                      corporate is a person that directly, or indirectly
                      through one or more intermediaries, controls, or is
                      controlled by, or is under common control with, the
                      person specified.  In this case, "control" (including the
                      terms "controlled by" and "under common control with")
                      means the possession, directly or indirectly, of the
                      power to elect a majority of such specified person's
                      board of directors or similar governing body, or
                      otherwise having the power to direct the business and
                      policies of such specified person pursuant to the terms
                      of the organisational documents of such specified person.

       (d)    "APPLICABLE LAW" - means, with respect to any person, property,
              transaction, event or other matter, any law, rule, statute,
              regulation, order, judgment, decree, treaty or other requirement
              having the force of law (collectively, the "Law") relating or
              applicable to such person, property, transaction, event or other
              matter.  Applicable Law also includes, where appropriate, any
              interpretation of the Law (or any part) by any person having
              jurisdiction over it, or charged with its administration or
              interpretation;

       (e)    "APRIL 1998 UNANIMOUS SHAREHOLDERS' AGREEMENT" - means that
              certain unanimous shareholders' agreement between the Corporation,
              BMO and Blue Sky dated as of April 30, 1998 concerning the
              Corporation, which agreement was terminated and replaced by the
              original version of the October 19, 1999 Unanimous Shareholders'
              Agreement;

       (f)    "ARM'S LENGTH" - has the meaning given to such term in Schedule
              "1.1(f)";

       (g)    "ARTICLES" - means the original or restated articles of
              incorporation, certificate of incorporation, articles of
              amalgamation, articles of arrangement, articles of continuance,
              articles of reorganization, articles of revival, letters patent,
              memorandum of agreement, special act or statute and any other
              instrument or constating document by or pursuant to which a
              corporation is incorporated or comes into existence;

       (h)    "ASSOCIATE" - where used to indicate a relationship with any
              person or company means:

              (i)     any company of which such person or company beneficially
                      owns, directly or indirectly, voting securities carrying
                      more than 10% of the voting rights attached to all voting
                      securities of the company for the time being outstanding;
<PAGE>
                                       - 5 -

              (ii)    any partner of that person or company;

              (iii)   any trust or estate in which such person or company has a
                      substantial beneficial interest or as to which such
                      person or company serves as trustee or in a similar
                      capacity;

              (iv)    any relative of that person who resides in the same home
                      as that person;

              (v)     any person of the opposite sex who resides in the same
                      home as that person and to whom that person is married or
                      with whom that person is living in a conjugal
                      relationship outside marriage, or

              (vi)    any relative of a person mentioned in clause (v) who has
                      the same home as that person;

       (i)    "BAC" - means Bank of America Corporation, a corporation
              incorporated under the laws of the State of Delaware, the shares
              of common stock of which are listed on the New York Stock
              Exchange;

       (j)    "BANK ACT" - means the BANK ACT (Canada);

       (k)    "BMO CONTINUING ALLIANCE" - means the continuing alliance between
              the Corporation and BMO pursuant to which BMO may continue as a
              development partner with the Corporation to license the
              Corporation's technology after the BMO Second Anniversary pursuant
              to and in accordance with the provisions of the BMO Technology
              License Agreement;

       (l)    "BMO SECOND ANNIVERSARY" - means March 1, 2000 or, if extended by
              BMO in accordance with Section 2.3.1 of the BMO Subscription
              Agreement, June 1, 2000, as the case may be;

       (m)    "BMO SUBSCRIPTION AGREEMENT" - means that certain share
              subscription agreement between Blue Sky, BMO and the Corporation
              dated April 30, 1998, as amended by an amending agreement dated as
              of October 15, 1998;

       (n)    "BMO TECHNOLOGY LICENSE AGREEMENT" - means that certain technology
              license agreement between the Corporation and BMO dated April 30,
              1998, as amended by letter agreements dated November 27, 1998 and
              July 26, 1999;

       (o)    "BOARD OF DIRECTORS" - the board of directors of the Corporation
              from time to time;

       (p)    "BOFA TECHNOLOGY LICENSE AGREEMENT" - means that certain
              technology license agreement between the Corporation and Bank of
              America National Trust & Savings Association, an Affiliate of BAC,
              dated June 1, 1999;

       (q)    "BUSINESS" - means the business of the Corporation, being the
              business of researching, designing, developing, marketing,
              licensing, supporting, advising on
<PAGE>
                                     - 6 -

              and operating technology that provides both consumers and
              businesses (in Canada, the  United States of America and
              globally) with access to electronic banking, brokerage,
              payment, content, e-commerce and other applications (including
              similar and complementary applications) over a variety of
              access platforms, such as Internet-enabled devices, and which
              business (A) is carried on by the Corporation in a meaningful
              manner in Canada, the United States of America and globally,
              and (B) includes an emphasis on financial transactions;

       (r)    "BUSINESS DAY" - means any day other than a Saturday, Sunday or
              statutory holiday in Toronto (Ontario), New York (NY) or
              Helsinki (Finland);

       (s)    "COMMON SHARE" or "EQUITY SHARE" or "EQUITY SECURITY" - means a
              common share in the capital of the Corporation and includes
              other fully-participating equity shares (whether or not
              entitled to voting rights) in the capital of the Corporation
              which, if any, are issued pursuant to the Stock Option Plan;
              provided however that, subject to Applicable Law, with respect
              to those matters or actions contemplated herein which, to be
              implemented or to effect the implementation thereof, require an
              approval, a consent or an authorization which is based on
              achieving or exceeding a certain threshold level of the votes
              cast by one or more holders of Common Shares, the term "Common
              Shares" shall only refer to the common shares in the capital of
              the Corporation;

       (t)    "COMPANY REGISTRATION" - means an offering by the Corporation
              (on its behalf or on behalf of any selling Shareholder) of any
              of its equity shares or other securities to the public solely
              for cash proceeds pursuant to a prospectus or registration
              statement under the securities laws of one or more Provinces of
              Canada and/or of the United States (including, without
              limitation, for the purpose of qualification or registration of
              securities held by shareholders other than a shareholder
              contemplating exercising its Piggyback Registration Rights);
              provided, however, that a Company Registration shall not
              include: (i) a registration relating solely to participants in
              the Stock Option Plan or other employee incentive or benefit
              plans; (ii) a registration relating solely to transactions
              covered by Rule 145 under the 1933 Act registered on Form S-4
              or similar form that may be promulgated in the future; (iii) a
              registration relating solely to a matter which does not require
              a prospectus or registration statement to include (explicitly
              or through incorporation by reference) substantially the same
              information as would be required to be included in a
              registration statement covering the sale to the public of
              Common Shares held by the Founding Shareholder or the Strategic
              Partners; and (iv) a registration in which the only equity
              securities being registered are those issuable upon conversion
              of debt securities which are also being registered;

       (u)    "COMPETITOR" - means any person or entity which, directly or
              indirectly through any Affiliate or Associate of such person or
              entity: (i) carries on the Business; and (ii) competes
              materially with the Corporation as determined by the Board of
              Directors acting reasonably;
<PAGE>
                                     - 7 -

       (v)    "COMPETITOR OF BMO" - means any financial institution or any
              Affiliate or Subsidiary thereof (other than the Strategic
              Partners who are Shareholders as at the date hereof or their
              respective Affiliates and Subsidiaries) that: (a) provides
              personal or commercial deposit services in Canada, or (b) is
              engaged in the provision of full or discount brokerage services
              in Canada, where, in either case, the consolidated deposits and
              brokerage assets under management or administration in Canada
              of such institution, its Affiliates and Subsidiaries is greater
              than CDN $20 billion;

       (w)    "CONFIDENTIAL INFORMATION" - means in this Agreement (and, for
              greater certainty, without prejudice to those matters governed
              by any other contract between a Shareholder, or an Affiliate or
              Subsidiary thereof, and the Corporation), all information
              (including the terms and provisions hereof) concerning the
              business and affairs of the Corporation or any of its
              Affiliates or Subsidiaries of a confidential, non-public or
              proprietary nature (which information shall include, without
              limitation, trade secrets, know-how, intellectual property,
              marketing plans, cost figures, client lists, names and
              addresses of suppliers and customers, business contracts,
              software and operating systems, and information relating to
              employees and other persons in a contractual relationship with
              the Corporation or any of its Affiliates and Subsidiaries),
              obtained, made available or disclosed in circumstances where
              the recipient (the "Recipient") ought reasonably to know that
              such information obtained directly or indirectly from, made
              available or disclosed by or on behalf of the Corporation or
              any Affiliate or Subsidiary thereof (the "Disclosing Party"),
              was obtained directly or indirectly from, made available or
              disclosed with an expectation on the part of the Corporation
              and/or the Disclosing Party that such information would be held
              in confidence by the Recipient and its employees, officers,
              agents or advisors.  Confidential Information does not include
              any such information which: (i) at the time of its disclosure
              is publicly available through no fault of any person owing a
              duty of confidentiality to the Corporation or its Affiliate or
              Subsidiary; (ii) after disclosure, is released to the public by
              the Disclosing Party without restriction or otherwise properly
              becomes part of the public domain through no fault or action of
              the Recipient (but only after it is released or otherwise
              becomes part of the public domain); (iii) the Recipient can
              demonstrate was known to the Recipient or was in its possession
              at the time of disclosure and which was not acquired by such
              party directly or indirectly under any obligation of confidence
              to the Corporation or its Affiliates or Subsidiaries or from a
              person who, to the knowledge of the Recipient after exercising
              due diligence, owed an obligation of confidentiality to the
              Corporation or its Affiliates or Subsidiaries with regard to
              such information (for the purposes of this subsection (iii)
              information shall also be treated as confidential after the
              Disclosing Party shall have demonstrated to the Recipient that,
              notwithstanding its due diligence at the time of disclosure,
              the source of the information was in fact under a duty of
              confidentiality to the Corporation or its Affiliates or
              Subsidiaries with regard to such information - the Recipient
              shall not be liable for having acted in good faith that such
              information was not confidential until so informed); or (iv)
              the Recipient can demonstrate was independently
<PAGE>
                                     - 8 -

              developed by such Party without reference to or any use of the
              Confidential Information of the Disclosing Party;

       (x)    "CONSTATING DOCUMENTS" - means, with respect to a corporation,
              its Articles and its by-laws, all as amended from time to time;

       (y)    "CSTC SHARES" - has the meaning ascribed to it in the recitals;

       (z)    "CSTC SUBSCRIPTION AGREEMENT" means that certain share
              subscription agreement between the Corporation, Citicorp and
              CSTC made as of July 23, 1999;

       (aa)   "DEMAND REGISTRATION" - means, individually or collectively, a
              Founding Shareholder Demand Registration and/or a Strategic
              Partner Demand Registration;

       (bb)   "EMPLOYEE SHAREHOLDERS" - means, so long as they are
              Shareholders, any employee of the Corporation or its
              Subsidiaries to whom, or to a member of whose Immediate Family,
              Common Shares may be issued or transferred from time to time
              and who become parties hereto and, for greater certainty,
              excludes Greg Wolfond, the Founding Shareholder (including the
              members thereof), the Strategic Partners, the Management
              Shareholders and the Non-Employee Directors;

       (cc)   "FOUNDING SHAREHOLDER" - means collectively Greg Wolfond, Blue
              Sky, 1319079 and their respective Permitted Transferees and
              entities which become Shareholders in respect of which Greg
              Wolfond holds a material interest; and for the purposes of this
              definition, a material interest shall be deemed to be held by
              Greg Wolfond if he directly or indirectly owns or holds a
              majority of the voting rights in such entity; and a "MEMBER OF
              THE FOUNDING SHAREHOLDER" means any person contemplated by this
              definition of Founding Shareholder;

       (dd)   "FOUNDING SHAREHOLDER DEMAND REGISTRATION" - has the meaning
              ascribed to it in Section 13.1(b) and "Founding Shareholder
              Registration Request" has the meaning ascribed to it in Section
              13.1;

       (ee)   "GENERALLY ACCEPTED ACCOUNTING PRINCIPLES" OR "GAAP" - means
              the current accounting principles recommended by the Canadian
              Institute of Chartered Accountants in the "CICA Handbook" at
              the relevant time, or in the event that the matter is not
              covered in the CICA Handbook, principles having general
              acceptance among accounting professionals in Canada at the
              particular time; and, for greater certainty, the expensing of
              all development costs in the year they are incurred shall, to
              the extent not specifically prohibited by the CICA Handbook, be
              deemed to be in accordance with GAAP;

       (ff)   "GOVERNMENTAL AUTHORITY" - means any governmental or
              quasi-governmental authority including any federal, state,
              provincial, territorial, county, municipal or other
              governmental or quasi-governmental agency, board, parliament,
              legislature,
<PAGE>
                                     - 9 -

              regulatory authority, agency, tribunal, commission, branch,
              bureau, commission, court, department or other law, regulation
              or rule-making entity (including a Minister of the Crown) or
              other instrumentality or political unit or subdivision having
              or purporting to have jurisdiction on behalf of any nation,
              state, province, municipality, district or any subdivision
              thereof;

       (gg)   "HSBC WARRANT" - means that certain warrant to purchase Common
              Shares of the Corporation at U.S. $15.00 per Common Share dated
              as of October 26, 1999 and identified by Serial No. W-1 issued
              and granted by the Corporation to and in favour of HSBC
              wherein, in general, the Corporation has granted to HSBC the
              right to subscribe for or to purchase from the Corporation
              333,334 Common Shares at a price of U.S. $15.00 per Common
              Share, a copy of which is attached hereto as Schedule 1.1(gg),
              which Schedule is incorporated herein by reference and deemed
              to be part hereof, as such warrant may be amended, supplemented
              or otherwise modified from time to time pursuant to and in
              accordance with Section 1.20(c);

       (hh)   "IMMEDIATE FAMILY" - means, with respect to an individual
              Shareholder or Principal, as the case may be:

              (i)     the spouse or issue of that Shareholder or Principal;

              (ii)    a corporation which has no registered or beneficial
                      shareholders other than the following (a "Permitted
                      Shareholder" for the purposes of this first paragraph of
                      this Section 1.1(hh)):

                      (A)    that Shareholder or Principal; or

                      (B)    the spouse and/or issue of that Shareholder or
                             Principal, as the case may be; or

                      (C)    any trust or trusts described in paragraph (iii)
                             below,

                      provided that the issued and outstanding shares of such
                      corporation are free and clear of all claims, liens and
                      encumbrances whatsoever and no person other than a
                      Permitted Shareholder has any agreement or option or any
                      right capable of becoming an agreement for the purchase
                      of any of such shares and provided that the registered
                      and beneficial shareholders of such corporation shall
                      have executed and delivered to the other parties hereto
                      an agreement substantially in the form annexed hereto as
                      Schedule "6.2" and all share certificates of such
                      corporation shall at all relevant times during the term
                      of this Agreement have the legend set out in Section 19.1
                      endorsed thereon; or

              (iii)   a trust which has no trustees or beneficiaries (vested,
                      contingent or otherwise) other than that Shareholder
                      and/or Principal and/or the spouse and/or issue of that
                      Shareholder or Principal, as the case may be;
<PAGE>
                                     - 10 -

              and means with respect to a corporate Shareholder:

              (i)     the Principal and/or the spouse and/or issue of the
                      Principal of that Shareholder;

              (ii)    a corporation which has no registered or beneficial
                      shareholders other than the following (a "Permitted
                      Shareholder" for the purposes of this second paragraph of
                      this Section 1.1(hh)):

                      (A)    the Principal of that Shareholder; or

                      (B)    the spouse and/or issue of the Principal; or

                      (C)    any trust or trusts described in paragraph (iii)
                             below,

                      provided that the issued and outstanding shares of such
                      corporation are free and clear of all claims, liens and
                      encumbrances whatsoever and no person, other than a
                      Permitted Shareholder, has any agreement or option or any
                      right capable of becoming an agreement for the purchase
                      of any of such shares and provided that the registered
                      and beneficial shareholders of such corporation shall
                      have agreed in writing with the parties hereto not to
                      enter into an agreement or option to sell, transfer,
                      assign, pledge, mortgage, charge, create a security
                      interest in, hypothecate or otherwise dispose of,
                      encumber or deal with, whether by will or otherwise, the
                      shares of such corporation or permit such corporation to
                      issue shares or grant options or rights in respect of the
                      shares of such corporation except to any member of the
                      Immediate Family of that Shareholder who shall have
                      executed and delivered a similar agreement, without the
                      prior written consent of the other Shareholders first had
                      and obtained, and all share certificates of such
                      corporation shall at all relevant times during the term
                      of this Agreement have the legend set out in Section 19.1
                      hereof endorsed thereon; or

              (iii)   a trust which has a majority of trustees who are the
                      Principal of the Shareholder or the spouse and/or issue
                      of such Principal and has no beneficiaries (vested,
                      contingent or otherwise) other than the  Principal of
                      that Shareholder or the spouse and/or issue of such
                      Principal, as the case may be;

       (ii)    "INDEPENDENT DIRECTOR" - means an individual who is
              independent of management of the Corporation, and each and
              every one of the Strategic Partners, and is free from any
              interest in any business or other relationship which could, or
              could reasonably be perceived to, materially interfere with the
              individual's ability to act as a director of the Corporation
              with a view to the best interests of the Corporation, other
              than interests in relationships arising from shareholdings;

       (jj)   "INITIAL PUBLIC OFFERING" - means the issue of shares (or
              securities convertible into or exchangeable for shares of the
              Corporation) by the Corporation pursuant to
<PAGE>
                                     - 11 -

              a final prospectus for which a receipt is issued by a
              securities commission or similar regulatory body in Canada,
              and/or pursuant to an effective registration statement filed
              with the United States Securities and Exchange Commission to
              enable the sale of such securities to members of the public, or
              the issue of any shares to the Shareholders by a corporation
              which is a reporting issuer in a Province of Canada or public
              company in any jurisdiction, pursuant to a reverse take-over
              bid, statutory amalgamation, statutory arrangement or similar
              transaction involving the Corporation and, in all cases, which
              results in a class of Common Shares (or the securities of a
              successor issuer) being listed and posted for trading on a
              recognised stock exchange in Canada or the United States or
              quoted on the National Association of Securities Dealers
              Automated Quotation System ("NASDAQ") or the Canadian Dealing
              Network Inc. ("CDN");

       (kk)   "MANAGEMENT SHAREHOLDERS" - means, so long as they are
              Shareholders, those officers and senior employees of the
              Corporation or its Subsidiaries who become, or a member of
              whose Immediate Family become, Shareholders and parties hereto
              and who are designated as "Management Shareholders" by the
              Board of Directors for the purposes of this Agreement and, for
              greater certainty, excludes Greg Wolfond, the Founding
              Shareholder (including the members thereof), the Strategic
              Partners, the Non-Employee Directors and the Employee
              Shareholders;

       (ll)   "MANAGEMENT TEAM" - means those officers or senior employees of
              the Corporation or its Subsidiaries who are designated as
              described in Section 5.1;

       (mm)   "MATERIAL DECISION" - means any decision involving a matter
              contemplated by either: (I) Section 1.1(mm)(i) (a "Category 1
              Material Decision"); (II) Sections 1.1(mm)(ii) to, and
              including, 1.1(mm)(xii) (individually, a "Category 2 Material
              Decision"); (III) Sections 1.1(mm)(xiii) to, and including,
              1.1(mm)(xxiv) (individually, a "Category 3 Material Decision");
              and (IV) Section 1.1(mm)(xxv) (a "Category 4 Material
              Decision"), as provided below:

                            CATEGORY 1 MATERIAL DECISION

              (i)     the taking of any action which may lead to or result in a
                      material change in the nature of the Business presently
                      contemplated to be carried on by the Corporation, or in
                      the discontinuance or termination of the Business of the
                      Corporation;

                            CATEGORY 2 MATERIAL DECISIONS

              (ii)    the redemption, purchase for cancellation, purchase or
                      other acquisition for value by the Corporation, directly
                      or indirectly, of any outstanding Common Shares, but
                      excluding purchases of Common Shares contemplated or
                      provided for pursuant to the terms of this Agreement;

              (iii)   the amendment of the provisions of the Corporation's
                      Constating Documents;
<PAGE>
                                     - 12 -

              (iv)    any proposal to amalgamate or to effect a corporate
                      reorganization, arrangement, continuation, liquidation,
                      dissolution or winding-up of the Corporation or any other
                      transaction pursuant to which all or substantially all of
                      the assets of the Corporation would become the property
                      of another person;

              (v)     the conversion, exchange, reclassification,
                      redesignation, subdivision or consolidation of the Common
                      Shares or the amendment of the rights, privileges,
                      restrictions and conditions attaching to any Common
                      Shares or other change of or to any Common Shares;

              (vi)    the declaration or payment or setting aside for payment
                      of any dividends or any other distribution in respect of
                      any equity securities of the Corporation (save and except
                      for the payment of principal or interest with respect to
                      convertible debt or similar obligations which constitute
                      "equity" securities under GAAP);

              (vii)   changing the size of the Board of Directors (except
                      for: (I) decreases related to the loss of a Strategic
                      Partner's entitlement to a nominee; or (II) increases
                      related to the admission of a new Strategic Partner; or
                      (III) the minimum increases required, from time to
                      time, as a consequence of the appointment of additional
                      non-resident directors as a result of the admission of
                      new Strategic Partners, to allow the Founding
                      Shareholder to appoint additional Canadian-resident
                      directors from the Management Team pursuant to Section
                      4.2(a)(i)(C) so that the Corporation remains in
                      compliance with the provisions of the Act requiring a
                      majority of Canadian-resident directors);

              (viii)  removing any Independent Director appointed pursuant to
                      Section 4.2(a)(i)(B);

              (ix)    sale of any asset, otherwise than to an Affiliate or a
                      Subsidiary of the Corporation, which includes
                      intellectual property rights that are material to the
                      core functionality of the Corporation's products or
                      services;

              (x)     the removal of Greg Wolfond as Chairman or CEO of the
                      Corporation or any diminution of the nature or status of
                      his responsibilities or authority to act as Chairman and
                      CEO, or any change in his reporting relationship, from
                      that enjoyed as at July 1, 1999;

              (xi)    the subscription for or other agreement by the
                      Corporation to hold, take, purchase or acquire shares in
                      the capital of any other corporation for a subscription
                      price in excess of US$5 million;

              (xii)   the entering into of any exclusive licensing agreements
                      by the Corporation with respect to the Business
                      (excluding, however, exclusive licensing of technology
                      that is commissioned or requested by or for a particular
<PAGE>
                                     - 13 -

                      licensee or which is a work paid for outside of the
                      Corporation's normal licensing arrangements);

                            CATEGORY 3 MATERIAL DECISIONS

              (xiii)  effecting any acquisition having a transaction value
                      (including all cash and non-cash consideration paid,
                      liabilities assumed, the maximum present value of any
                      deferred payment or earn-out obligations and any
                      consideration payable under any related non-compete,
                      consulting or management services or similar
                      arrangements, excluding bona fide employment or
                      management arrangements) equal to or greater than
                      U.S.$10,000,000 or, in the event of transactions that
                      might be viewed as linked or part of a related series of
                      transactions, an aggregate of U.S.$20,000,000;

              (xiv)   the subscription for or other agreement by the
                      Corporation to hold, take, purchase or acquire shares in
                      the capital of any other corporation for a subscription
                      price that is less than or equal to US$5 million;

              (xv)    the implementation of a decision to commercialize a
                      category of access platforms for the Corporation's
                      internet-based and e-commerce applications, other than
                      the personal computer, mobile/wireless, set-top and
                      gaming categories or the implementation of a decision to
                      re-prioritise the Corporation's focus between categories
                      of access platforms previously approved for
                      commercialisation (for greater certainty, the undertaking
                      of research and development activities with respect to
                      potential new categories of access platforms shall NOT
                      constitute a "Material Decision" provided that research
                      and development activities, generally, are anticipated in
                      the then current business plan);

              (xvi)   except in the ordinary course of business, the entering
                      into by the Corporation of a partnership or any
                      arrangement for the sharing of profits, union of
                      interests, joint venture or reciprocal concession
                      arrangement with any person;

              (xvii)  the establishment or amendment or modification of any
                      employee stock plan (including the Stock Option Plan);

              (xviii) effecting any sale of assets of the Corporation having a
                      transaction value equal to or greater than $250,000;

              (xix)   approving any budgets or business plans of the
                      Corporation;

              (xx)    except in the ordinary course of business, the making,
                      directly or indirectly, of loans or advances to, or
                      investment in, or the giving of security for, or the
                      guarantee of the indebtedness of, any person;
<PAGE>
                                     - 14 -

              (xxi)   except in the ordinary course of business, the
                      hypothecation, pledge, mortgage, charge or other
                      encumbrance by the Corporation of the whole of its
                      assets or any part thereof;

              (xxii)  any investment of funds of the Corporation in, or any
                      contract entered into by the Corporation with, any
                      person who does not deal at arm's length with the
                      officers of the Corporation as appointed by the Board
                      of Directors (for greater certainty, excluding
                      investments in or contracts with Subsidiaries of the
                      Corporation);

              (xxiii) causing the Corporation to pursue and, if possible,
                      complete an Initial Public Offering (other than as
                      contemplated in Article 13 or Article 15);

              (xxiv)  the borrowing of funds (whether or not on the security
                      of the assets of the Corporation) in excess of
                      U.S.$10,000,000; and

                             CATEGORY 4 MATERIAL DECISION

              (xxv)   the proposed issuance of Common Shares to a new
                      Strategic Partner in accordance with Section 4.2(e)(i);

       (nn)   "NON-EMPLOYEE DIRECTORS" - means, so long as they are
              Shareholders, those individuals who are members of the Board of
              Directors and who become, or a member of whose Immediate Family
              become, Shareholders and parties hereto and, for greater
              certainty, excludes Greg Wolfond, the Management Shareholders and
              the Employee Shareholders;

       (oo)   "NOTICE" - has the meaning given to such term in Section 19.2;

       (pp)   "OCTOBER 19, 1999 UNANIMOUS SHAREHOLDERS' AGREEMENT" - means that
              certain unanimous shareholders' agreement originally executed June
              1, 1999 and amended and restated as of August 2, 1999 and as of
              October 19, 1999, among the Corporation, Blue Sky, 1319079, BMO,
              BAC, Citicorp, CSTC, Sonera, WFC, FTVI and FTV2, which agreement
              is further amended and restated by this Agreement;

       (qq)   "OPTIONS" - means options to acquire Common Shares granted
              pursuant to the Stock Option Plan;

       (rr)   "OSFI" - means the Office of the Superintendent of Financial
              Institutions or such replacement supervisory or administrative
              body or Governmental Authority as may be established pursuant to
              the Bank Act;

       (ss)   "PERMITTED TRANSFEREE" - means:

              (i)     with respect to any Shareholder other than a Strategic
                      Partner, a member of the Immediate Family of the
                      Shareholder, provided that such member
<PAGE>
                                     - 15 -

                      of the Immediate Family of the Shareholder is not a
                      Competitor or a Competitor of BMO;

              (ii)    with respect to the Founding Shareholder, any of its
                      Affiliates or Subsidiaries, provided that such Affiliate
                      or Subsidiary is not a Competitor or a Competitor of BMO;

              (iii)   with respect to BMO or BAC, any of their respective
                      Affiliates or Subsidiaries, provided that: (I) such
                      Affiliate or Subsidiary, if not wholly-owned directly
                      or indirectly by BMO or BAC, as the case may be, is not
                      a Competitor; (II) in the case of BMO or any subsequent
                      assignee of its interest, if the Affiliate or
                      Subsidiary to which shares of the Corporation are being
                      transferred is a non-Canadian entity, then if the
                      Corporation or the Founding Shareholder objectively
                      demonstrate at any time or from time to time after such
                      transfer that, in the particular circumstances then
                      applicable, BMO holding its interest in the Corporation
                      through such non-Canadian entity would subject a
                      particular transaction to foreign-investment review
                      pursuant to Applicable Law in Canada or result in
                      additional costs or significant impediments or
                      significant loss of benefits to either the Corporation
                      or the Founding Shareholder pursuant to applicable
                      taxation or securities laws, then BMO will cause such
                      shareholding to be transferred to a Canadian Affiliate
                      or Subsidiary of BMO; and (III) in the case of BAC or
                      any subsequent assignee of its interest, the Affiliate
                      or Subsidiary to which shares of the Corporation are
                      being transferred shall be a resident of Canada or the
                      United States for purposes of applicable taxation and
                      securities laws;

              (iv)    with respect to CSTC or Sonera, any of their respective
                      Affiliates or Subsidiaries, provided that:

                      (A)    such Affiliate or Subsidiary, if not wholly-owned
                             directly or indirectly by the transferor, is not a
                             Competitor; and

                      (B)    in the case of CSTC or any subsequent assignee of
                             its interests, the Affiliate or Subsidiary to
                             which shares of the Corporation are being
                             transferred shall be a resident of Canada, the
                             United States or the United Kingdom for the
                             purposes of applicable taxation and securities
                             laws; and

                      (C)    in the case of Sonera or any subsequent assignee
                             of its interests, the Affiliate or Subsidiary to
                             which shares of the Corporation are being
                             transferred shall be a resident of Canada,
                             Finland, Belgium, Holland or the United Kingdom
                             for the purposes of applicable taxation and
                             securities laws;

              (v)     with respect to WFC, any of its Affiliates or
                      Subsidiaries, provided that:
<PAGE>
                                     - 16 -

                      (A)    such Affiliate or Subsidiary, if not wholly-owned
                             directly or indirectly by the transferor, is not a
                             Competitor; and

                      (B)    in the case of WFC or any subsequent assignee of
                             its interest, the Affiliate or Subsidiary to which
                             shares of the Corporation are being transferred
                             shall be a resident of Canada or the United States
                             for purposes of applicable taxation and securities
                             laws;

              (vi)    with respect to FTV1 and FTV2;

                      (A)    any of their respective Affiliates which is
                             controlled by FTV1 or FTV2, as the case may be and
                             excluding Affiliates that control FTV1 or FTV2,
                             provided that such Affiliate is not a Competitor;
                             or

                      (B)    a liquidating trust for the benefit of the
                             partners of the particular limited partnership,
                             provided that the trustee(s) are not affiliated in
                             any way with a Competitor and provided that the
                             sole beneficiaries of such liquidating trust are
                             the partners of the limited partnership being
                             dissolved; and

              (vii)   with respect to HSBC, any of its Affiliates or
                      Subsidiaries, provided that:

                      (A)    such Affiliate or Subsidiary, if not wholly-owned
                             directly or indirectly by the transferor, is not a
                             Competitor; and

                      (B)    in the case of HSBC or any subsequent assignee of
                             its interest, the Affiliate or Subsidiary to which
                             shares of the Corporation are being transferred
                             shall be a resident of Canada, the United States,
                             Finland, Belgium, Holland, Hong Kong or the United
                             Kingdom for purposes of applicable taxation and
                             securities laws; and

       (tt)   "PERSON" - means an individual, partnership, unincorporated
              association, organization, syndicate, corporation, trust and a
              trustee, executor, administrator or other legal or personal
              representative;

       (uu)   "PIGGYBACK REGISTRATION" - has the meaning given to such term in
              Section 13.2 and in Section 14.2;

       (vv)   "PLACE OF CLOSING" - means the offices of the solicitors for the
              purchaser in the subject transaction or such other place as may be
              agreed to in writing by the vendor and the purchaser in the
              subject transaction;

       (ww)   "PRINCIPAL" - means: (i) with respect to any Shareholder which is
              not an individual or a Strategic Partner or the Founding
              Shareholder, the employee, director or officer of the Corporation
              or its Subsidiaries who (together with his or her Immediate
              Family) controls the Shareholder; and (ii) with respect to those
              Affiliates and Subsidiaries of the following Shareholders to which
              securities of the Corporation are issued or transferred from time
              to time, the particular
<PAGE>
                                     - 17 -

              Shareholder of which the subscriber or transferee is the
              Affiliate or Subsidiary: the Founding Shareholder, BMO, BAC,
              CSTC, Sonera, WFC, FTV1, FTV2 and HSBC; and, for greater
              certainty, Citicorp is the Principal of CSTC;

       (xx)   "PRIME BANK RATE" - the commercial lending rate of interest,
              expressed as an annual rate, which Bank of Montreal quotes in
              Toronto as the reference rate of interest from time to time
              (commonly known as "prime") for the purpose of determining the
              rate of interest that it charges to its commercial customers for
              loans in Canadian funds;

       (yy)   "SECURITIES ACT" - means the SECURITIES ACT (Ontario);

       (zz)   "SHAREHOLDER" - means the Founding Shareholder, BMO, BAC, CSTC,
              Sonera, WFC, FTV1, FTV2 and HSBC, the Management Shareholders,
              Non-Employee Directors and the Employee Shareholders and any other
              person who becomes a shareholder of the Corporation and whose
              holding is permitted in accordance with the terms hereof, in each
              case so long as they are shareholders of the Corporation; and
              "SHAREHOLDERS" shall have a corresponding meaning;

       (aaa)  "SHARES" or "SECURITIES" - means all shares, options (including
              without limitation the Options) warrants, interests,
              participations or other equivalents (regardless of how
              designated) of or in a corporation, unlimited liability
              company, partnership, limited partnership or equivalent entity,
              whether voting or non-voting or participating or
              non-participating, or any securities, bonds, notes, debentures
              or other evidences of indebtedness that are convertible into or
              exchangeable for any of the foregoing;

       (bbb)  "STOCK OPTION PLAN" - means the stock option plan of the
              Corporation adopted as of September 15, 1997, as amended or
              replaced from time to time in accordance with the provisions
              hereof, which currently provides for the granting of options to
              acquire up to 1,000,000 Common Shares (subject to adjustment in
              accordance with the terms thereof), and in respect of which the
              Board of Directors has authorized an amendment or supplementary
              plan in respect of 250,000 equity shares;

       (ccc)  "STRATEGIC PARTNER" - means, so long as they or any of their
              Permitted Transferees is a Shareholder, each of BMO, BAC, CSTC,
              Sonera, WFC, FTV, HSBC and such other persons as may become
              Shareholders from time to time in accordance with the provisions
              of Section 4.2(e) (not to exceed three of such additional
              Strategic Partners) provided that such other entity or
              organization has a significant customer base to which the products
              and/or services of the Business or any part thereof could be
              marketed or such entity or organization provides products and/or
              services which are within the scope of the Business or
              complementary thereto, all in the opinion of the Board of
              Directors, acting reasonably and in good faith having regard to
              the best interests of the Corporation;
<PAGE>
                                     - 18 -

       (ddd)  "STRATEGIC PARTNER DEMAND REGISTRATION" - has the meaning ascribed
              to it in Section 14.1;

       (eee)  "SUBSIDIARY" - means an incorporated body wherever or however
              incorporated (a "body corporate") that is a "SUBSIDIARY" of
              another body corporate. A body corporate shall be considered a
              subsidiary of another body corporate if, but only if:

              (i)     it is controlled (as defined in Section 1.1(c)(ii)) by:

                      (A)    that other body corporate, or

                      (B)    that other body corporate and one or more bodies
                             corporate each of which is controlled by that
                             other body corporate, or

                      (C)    two or more bodies corporate each of which is
                             controlled by that other body corporate; or

              (ii)    it is a subsidiary of a body corporate that is a
                      subsidiary of that other body corporate;

       (fff)  "TIME OF CLOSING" - means the time of day agreed to in writing by
              the vendor and the purchaser in the subject transaction on the
              date established for completing the subject transaction in
              accordance with the provisions of this Agreement; and

       (ggg)  "VOTING SECURITIES" - means securities, other than debt
              securities, carrying a voting right to elect directors generally
              either under all circumstances or under stated circumstances that
              have occurred and are continuing.

1.2           CURRENCY.

              Unless otherwise provided for herein, all dollar amounts referred
to or payments contemplated herein are stated in or shall be paid in Canadian
funds (as the case may be).  Payments contemplated herein shall be in cash or by
certified cheque or bank draft drawn on a reputable financial institution or by
wire transfer.

1.3           INTERPRETATION.

              The division of this Agreement into articles and sections is for
convenience of reference only and shall not affect the interpretation or
construction of this Agreement.

              The word "including" used in this Agreement means "including
without limitation" and the word "includes" used in this Agreement means
"includes, without limitation". Expressions such as "hereof", "herein",
"hereto", "hereunder", "hereby" and similar expressions shall be construed as
referring to this Agreement in its entirety and not only to the particular
Article, Section, Subsection or clause in which such word or words appear.
Unless something in the subject matter or context is inconsistent therewith,
references herein to Articles, Sections, Subsections and clauses are to
Articles, Sections, Subsections and clauses of this Agreement.
<PAGE>
                                     - 19 -

1.4           GOVERNING LAW/SUBMISSION TO JURISDICTION.

              This Agreement shall be governed by and construed in accordance
with the laws of the Province of Ontario and the federal laws of Canada
applicable therein (excluding any conflict of laws rule or principles that
might refer such construction to the laws of another jurisdiction) and shall
be treated, in all respects, as an Ontario contract.  The parties hereto
submit to the exclusive jurisdiction of the courts of the Province of
Ontario.  In any such dispute, subject to the provisions of Section 4.9, the
parties shall act reasonably and in good faith with a view to having such
dispute heard by a judge of the Commercial List of the Ontario Superior Court
of Justice.

1.5           NUMBER AND GENDER.

              In this Agreement, the use of the singular number shall include
the plural and vice versa, the use of gender shall include the masculine,
feminine and neuter genders.

1.6           COMPUTATION OF TIME.

              When calculating the period of time within which or following
which any act is required or permitted to be done, notice given or step taken
pursuant to this Agreement, the date which is the reference date in
calculating such period shall be excluded.  If the last day of such period is
a non-business day, the period in question shall end on the next following
business day.

1.7           STATUTORY REFERENCES.

              Unless otherwise indicated, any references herein to any law,
by-law, rule, regulation, order or act of any government, governmental body
or other regulatory body shall be construed as a reference thereto as amended
or re-enacted from time to time or as a reference to any successor thereto
and all rules and regulations promulgated thereunder.

1.8           EFFECT ON MANAGEMENT.

              To the extent that this Agreement specifies that any matters
may only be or shall solely be dealt with or approved by or shall solely
require action by the Shareholders, the discretion and powers of the
directors of the Corporation to manage and to supervise the management of the
business and affairs of the Corporation with respect to such matters are
correspondingly restricted.

1.9           RIGHTS AND OBLIGATIONS OF TRANSFEREES.

              If shares of the Corporation are transferred by a Shareholder
to one or more Permitted Transferees, such transferee(s) together with the
original Shareholder (should it or he retain any Common Shares), acting
unanimously, shall be entitled to exercise all rights of such Shareholder
hereunder, subject to the direction of the original Shareholder.  For greater
certainty, any provision of this Agreement referring to or contemplating
shares held by, or the number of shares held by, a Shareholder shall (without
duplication) be deemed to include a reference to shares held by, or the
aggregate number of shares held by, the particular Shareholder and the
members of its Immediate Family (or, in the case of BMO, BAC, CSTC, Sonera,
WFC, FTV1,
<PAGE>
                                     - 20 -

FTV2 or HSBC, their respective Permitted Transferees), or in the case of the
Founding Shareholder, all of its Permitted Transferees together with all of
the members of the Founding Shareholder (and, to the extent applicable, their
respective Permitted Transferees) in each case who are Shareholders, and for
further certainty such aggregation shall apply for purposes of matters
dealing with rights and obligations to vote, purchase or sell shares as
contemplated herein.

1.10          SHARE REFERENCES.

              Any reference to shares of the Corporation means shares in the
capital of the Corporation, as such shares exist at the close of business on
the date of execution and delivery of this Agreement and any additional
shares of the Corporation which may hereafter be created or issued; provided
that in the event of a subdivision, redivision, reduction, combination or
consolidation of the shares of the Corporation, then a reference to shares of
the Corporation shall thereafter mean the shares resulting from such
subdivision, redivision, reduction, combination or consolidation.

1.11          SEVERABILITY.

              If any Article, Section or any portion of any Section of this
Agreement is determined to be unenforceable or invalid for any reason
whatsoever, that unenforceability or invalidity shall not affect the
enforceability or validity of the remaining portions of this Agreement and
such unenforceable or invalid Article, Section or portion thereof shall be
severed from the remainder of this Agreement.

1.12          TERMINATION.

              This Agreement shall terminate upon:

       (a)    the written agreement of each of the Founding Shareholder, the
              Strategic Partners and, if such termination would reasonably be
              expected to have a material adverse effect on them, the Management
              Shareholders;

       (b)    the dissolution or bankruptcy of the Corporation or the making by
              the Corporation of an assignment or the commencing of a proceeding
              by the Corporation under the provisions of the BANKRUPTCY AND
              INSOLVENCY ACT (Canada),  the COMPANIES CREDITORS' ARRANGEMENT ACT
              (Canada) or any similar legislation related to bankruptcy,
              insolvency or other relief for debtors applicable in Canada,
              provided that the provisions of Article 17 of this Agreement shall
              survive any termination of this Agreement pursuant to this Section
              1.12(b);

       (c)    one person becoming the beneficial owner of all of the outstanding
              Common Shares and securities convertible into or exercisable for
              Common Shares, provided that the provisions of Article 17 shall
              survive any termination of this Agreement pursuant to this Section
              1.12(c) resulting from a transaction pursuant to Article 8,
              Article 10 and Article 15; or
<PAGE>
                                     - 21 -

       (d)    an Initial Public Offering, provided that the provisions of
              Article 13, Article 14 and Article 17 of this Agreement shall
              survive any termination of this Agreement pursuant to this
              Section 1.12(d).

1.13          AMENDMENTS AND WAIVERS.

              This Agreement may be amended with the prior consent in
writing, duly executed, of: (i) the Founding Shareholder; (ii) each of the
Strategic Partners; and (iii) if such amendment would reasonably be expected
to prejudice their rights hereunder, the Management  Shareholders.

              Notwithstanding the immediately preceding paragraph, this
Agreement may also be amended for the purposes of reflecting the admission of
a new Strategic Partner as a Shareholder of the Corporation (for greater
certainty, pursuant to Section 1.18 or where such admission has been duly
approved in accordance with the provisions of Sections 4.2(d)(iv) and 4.2(e)).

              The settlement of the required amendments to this Agreement in
this regard shall take place in accordance with the following provisions and
shall require the written consent of those Strategic Partners and, if
applicable, the Founding Shareholder, as shall have approved the admission of
the incoming Strategic Partner, or in the case of Section 1.18, by the
Founding Shareholder together with a majority in number of the Strategic
Partners (in each case, collectively, the "Admitting Parties"), provided,
however, that any amendments to this Agreement that are not Consequential
Amendments (as defined below) shall require approval in accordance with the
first paragraph of this Section 1.13.

              In this regard, amendments to this Agreement may be made:  (i)
to afford the new Strategic Partner with rights and subject it to obligations
comparable in all material respects with those applicable generally to the
existing Strategic Partners; or (ii) which are consequential to the admission
of a new Strategic Partner; or (iii) to reflect then existing rights and
obligations provided specifically for the benefit for (and subject to waiver
by) a particular Strategic Partner (such as, for example, the ability to
restrict transfers and issuances of Common Shares to competitors of the
particular Strategic Partner).  In addition, changes may be made at the
request of the proposed new Strategic Partner which are non-material and
which cannot reasonably be considered adverse to the interests of the
Founding Shareholder and the existing Strategic Partners.  The amendments
contemplated by this paragraph are referred to, collectively, as the
"Consequential Amendments".

              Any such Consequential Amendments to the Agreement shall be
prepared by the Founding Shareholder and circulated in draft to each of the
Strategic Partners for their review and comment and such parties shall work
together and use all reasonable commercial efforts, acting reasonably and in
good faith, to settle the form and substance of the amended and restated
Agreement so that the final form thereof accommodating the entry of the new
Strategic Partner can be delivered by the Founding Shareholder to each of the
Strategic Partners and, if required,  to the other Shareholders (other than
Employee Shareholders) and the voting trustee for the Employee Shareholders
for their execution by no later than the 15th business day after the
circulation of the preliminary draft thereof.  In the event that any such
Shareholder (other than
<PAGE>
                                     - 22 -

those Strategic Partners who have approved the admission of such new
Strategic Partner) fails to sign and return to the Founding Shareholder the
final form of amended and restated Shareholders' Agreement by no later than
the 15th business day after the delivery thereof, then, without prejudice to
any other rights which it may have, the Admitting Parties (or their
designated representative) shall be deemed to have been irrevocably appointed
by such Shareholders which shall not have signed and returned their
Agreements as their attorney in that behalf in accordance with the POWERS OF
ATTORNEY ACT (Ontario). The parties hereto acknowledge and agree that such
power of attorney is a power coupled with an interest, given for
consideration, and cannot be revoked without the consent of the other parties
hereto. For greater certainty, the parties hereto acknowledge and agree that
such power of attorney does not apply to and is not applicable to those
Strategic Partners which approved the admission of the new Strategic Partner.

              With respect to any provision of this Agreement prohibiting the
transfer or issuance of shares to a particular person in the circumstances
solely because such person is a "Competitor of BMO", a written waiver from
BMO shall be sufficient to permit the particular transaction and such waiver
shall be binding on the parties hereto.   Further, if at any time none of BMO
or its Affiliates or Subsidiaries are Shareholders, all references to
"Competitor of BMO" herein shall be deleted and this Agreement shall be
deemed to have been duly amended and restated to reflect such deletions.

1.14          ACCOUNTING AND AUDITING.

              Subject to the provision of Section 5.2, all accounting and
financial records of the Corporation shall be prepared in accordance with
GAAP applied consistently during the periods covered thereby.  The accounting
and financial records of the Corporation shall be kept in Canada.  The
Corporation also agrees to make available to any Governmental Authority
entitled thereto, including OSFI, at all times, the accounting and financial
records of the Corporation.

1.15          SHAREHOLDER REGULATORY REQUIREMENTS.

              The parties hereto desire to at all times comply in all
respects with all Applicable Law, including the requirements of Applicable
Law that apply specifically to a particular Shareholder as a result of the
nature of its business or the governmental licenses or permits that it holds
to carry on such business (for greater certainty and for purposes of
illustrative example, including the Bank Act and the regulations thereunder
as well as the applicable guidelines, recommendations and directions of OSFI,
as these relate to BMO). Also, for greater certainty, the parties hereto
shall cause the Corporation to carry on primary activities consistent with an
"information services corporation" (within the meaning given to such term in
the Bank Act) until such time as the characterisation of the Corporation as
an "information services corporation" is no longer required as a prerequisite
for any Shareholder, that is subject to the Bank Act, to hold the number of
Common Shares that it holds directly or indirectly.

              In the event of: (i) a change in Applicable Law or the
application thereof by the applicable Governmental Authority; or (ii) a
change in the nature or geographic extent of the Corporation's business as
then carried on or proposed to be carried on; or (iii) a change or proposed
change in the identity of one or more of the Shareholders; or (iv) such other
facts
<PAGE>
                                     - 23 -

concerning the Corporation exist (including, without limitation, any proposed
action on the part of the Corporation), in any case such that the Founding
Shareholder, BMO, BAC, CSTC, Sonera, WFC, FTV1, FTV2 or HSBC would no longer
be permitted, pursuant to Applicable Law, to maintain all or part of their
respective shareholdings in the Corporation (directly or through their
respective Affiliates or Subsidiaries), the Corporation and the affected
Shareholder shall meet to consider whether the indicated Applicable Law would
in fact apply to the proposed course of action, to consider the impact of
such Applicable Law to the Corporation and to the affected Shareholder and to
consider whether there are any reasonable alternatives to the proposed course
of action available (and whether these can be implemented in a timely fashion
having regard to the needs of the Corporation and the affected Shareholder).

              In this regard, the affected Shareholder shall be obligated to
pursue in good faith, using commercially reasonable efforts and on a timely
basis and at its sole expense, all reasonable alternatives and potential
solutions available to it, including, without limitation: (i) restructuring
the manner in which its interest in the Corporation is held; (ii) seeking to
obtain all necessary licenses, permits, consents, notices, approvals,
filings, certificates, registrations and/or authorizations of, by and/or with
any Governmental Authority necessary and/or required to be obtained by, or
issued or granted to, such  Shareholder and seeking other regulatory
approvals and/or guidance; and (iii) seeking the assistance of other members
of its corporate group.

              If, notwithstanding the foregoing, the affected Shareholder
determines, acting reasonably and in good faith and otherwise in accordance
with this Section 1.15, that the action in question cannot be implemented in
a manner that results in the affected Shareholder remaining in compliance
with Applicable Law, then the Corporation shall not pursue the action in
question unless and until the required regulatory approval is obtained or the
action can otherwise be implemented in accordance with the requirements of
Applicable Law.

              In this regard, the parties hereto covenant and agree to act in
good faith in attempting to find a mutually acceptable solution (including,
if applicable, making such additions or changes to the rights and obligations
of the parties pursuant to this Agreement as shall result in an equitable
treatment of all parties having regard to their relative rights and
obligations as of the date hereof).

              Each Shareholder shall be solely responsible for monitoring
legal developments specifically applicable to the operation of its business,
interpreting Applicable Law, determining the requirements for compliance with
such Applicable Law and identifying changes thereto.  Further, each
Shareholder covenants and agrees to respond, on a timely basis having regard
to the Corporation's needs, to inquiries from the Corporation as to the
ability of the Corporation to pursue a specified action in light of the
requirements of Applicable Law as it relates to the particular Shareholder.
In this regard such Shareholders shall, upon request by the Corporation,
provide the Corporation with designated contact officers who possess or have
direct access to the expertise and internal authority required for the
purposes of this Section 1.15.
<PAGE>
                                     - 24 -

1.16          REFERENCES TO AGREEMENTS.

              Unless otherwise indicated, all references herein to any
agreement or instrument mean such agreement or instrument as amended,
modified, varied, restated or replaced from time to time with the written
agreement of the parties thereto.

1.17          SPECIAL PROVISIONS RELATING TO THE FOUNDING SHAREHOLDER

       (a)    EFFECT OF TERMINATION OF EMPLOYMENT OF GREG WOLFOND.
              Notwithstanding anything to the contrary in this Agreement, if
              the Strategic Partners elect to approve of Material Decision
              1.1(mm)(x), or if the employment of Greg Wolfond as Chairman
              and Chief Executive Officer of the Corporation terminates as a
              result of his voluntary resignation or his death or otherwise,
              then the following provisions shall apply to the unique rights
              held by the Founding Shareholder:

              (i)     the Founding Shareholder shall be entitled to nominate
                      a member of the Board of Directors in accordance with
                      Section 4.2(a)(i)(A)(1), until the Founding Shareholder
                      has disposed of all of its Common  Shares;

              (ii)    the Founding Shareholder shall CEASE to be entitled to
                      nominate members of the Board of Directors in
                      accordance with Section 4.2(a)(i)(C), and thereafter
                      the Shareholders shall appoint such directors by a
                      majority vote, provided that such directors shall be
                      Independent Directors;

              (iii)   Greg Wolfond shall CEASE to be entitled to exercise his
                      authority to select the senior management team of the
                      Corporation and its Subsidiaries and Affiliates, to set
                      their compensation, or to be included in and to
                      designate any member of the Compensation Committee, in
                      each case as contemplated by and in accordance with
                      Section 5.1; and thereafter, the Board of Directors
                      shall have all such authority;

              (iv)    The Founding Shareholder shall CEASE to be entitled to
                      select candidates for nomination as Independent
                      Directors pursuant to Section 4.2(a)(i)(B), instead the
                      candidates for nomination as Independent Directors
                      shall be selected by a majority of the Strategic
                      Partners;

              (v)     Category 3 Material Decisions shall no longer be
                      subject to the approval mechanism set out in Section
                      4.2(d)(iii), and thereafter, such Material Decisions
                      shall be implemented with the approval by majority vote
                      at a duly convened meeting of the Board of Directors
                      and the written consent of Shareholders holding more
                      than 50% of the issued and outstanding Common Shares,
                      subject to proviso (B) of the last sentence of such
                      Section 4.2(d)(iii), which shall remain applicable;

              (vi)    any reference to the Founding Shareholder in Section
                      4.2(e)(i) (bringing in a new Strategic Partner) shall
                      be replaced by a reference to the Board of Directors;
                      and
<PAGE>
                                     - 25 -

              (vii)   as provided in Section 15.4 ("Termination of Employment
                      of Greg Wolfond"), there shall be no restriction on the
                      time before which the Founding Shareholder may pursue
                      the sale of its shares, and there shall be no "drag
                      along rights" for the Founding Shareholder or "tag
                      along rights" for the benefit of the other Shareholders
                      (pursuant to Article 8 or Article 10).

              All other rights hereunder of the Founding Shareholder and Greg
              Wolfond personally, including, without limitation: (a) the
              Founding Shareholder's right to vote the Common Shares held by
              Employee Shareholders; (b) the Founding Shareholder's right to
              pledge, transfer or otherwise deal with its Common Shares; and
              (c) the Founding Shareholder's rights as a Shareholder,
              including its pre-emptive rights and registration rights, shall
              remain unchanged.

       (b)    FOUNDING SHAREHOLDER HOLDS LESS THAN 800,000 COMMON SHARES.
              Notwithstanding anything to the contrary in this Agreement, in
              the event that the Founding Shareholder and each Permitted
              Transferee thereof, ceases to hold at least 800,000 equity
              shares of the Corporation:

              (i)     the right of the Founding Shareholder to vote the
                      Common Shares of the Employee Shareholders provided for
                      in Section 4.7 shall be terminated and each Shareholder
                      shall be entitled to vote the shares registered in
                      his/her name; and

              (ii)    the Agreement shall be deemed to have been amended to
                      provide that the amendments contemplated in Paragraph
                      1.17(a)(v) shall also apply.

       (c)    FOUNDING SHAREHOLDER NO LONGER HOLDS ANY COMMON SHARES.
              Notwithstanding anything to the contrary in this Agreement, in
              the event that the Founding Shareholder and each Permitted
              Transferee thereof, ceases to hold any equity securities of the
              Corporation, all of the provisions hereof conferring unique
              rights upon the Founding Shareholder and/or Greg Wolfond
              personally, shall be deemed to be amended to delete such rights
              and any reference to the Founding Shareholder.  However, for
              greater certainty, any rights that have accrued in favour of
              the Founding Shareholder or Greg Wolfond immediately prior to
              or upon such final disposition (for example, rights to
              reimbursement of expenses and rights to indemnification) and
              any rights in respect of a breach or non-compliance with the
              provisions hereof shall continue in favour of the Founding
              Shareholder and Greg Wolfond.  In replacement for such Founding
              Shareholder powers, the Agreement shall be deemed to have been
              amended to provide that the amendments contemplated in
              Paragraph 1.17(a) shall also apply.

1.18          SPECIAL PROVISIONS RELATING TO THE RIGHTS ATTACHING TO THE COMMON
              SHARES SOLD BY THE FOUNDING SHAREHOLDER

              In the event that the Founding Shareholder sells any of the equity
securities of the Corporation to a Person (including, for greater certainty, a
Strategic Partner) that is not a member of the Founding Shareholder (the
"Purchaser"), no unique rights of the Founding Shareholder, as
<PAGE>
                                     - 26 -

provided in this Agreement, shall be conferred upon such Purchaser, except
that the Founding Shareholder shall be entitled to assign its registration
rights relating to the shares of the Corporation being sold (without
prejudice to the registration rights attaching to the shares that the
Founding Shareholder continues to hold), provided, however, that the Founding
Shareholder Demand Registration rights may only be assigned in whole, and not
in part, and the Founding Shareholder shall not retain any part of the
Founding Shareholder Demand Registration rights once they have been assigned.

              The Purchaser shall, for the purposes hereof, be deemed to be,
and shall otherwise be treated as, a Strategic Partner if it acquires at
least 5% of the issued and outstanding Common Shares in the transaction or
series of related transactions pursuant to which such Purchaser first becomes
a Shareholder (inclusive of all of the Common Shares acquired from other
Shareholders).  For greater certainty, the Purchaser shall be treated as a
new Strategic Partner for purposes of any right to nominate a director of the
Corporation as such right exists on the date of the acquisition which makes
the Purchaser a new Strategic Partner (I.E. as at August 2, 1999, the
Purchaser shall be entitled to appoint a nominee to the Board of Directors if
it holds no less than 10% of the issued and outstanding Common Shares).  If
the Purchaser does not acquire at least 5% of the issued and outstanding
Common Shares, as contemplated above, then the Purchaser shall, for the
purposes hereof, be treated as if it is a Management Shareholder.

1.19          SPECIAL PROVISIONS RELATING TO FTV

       (a)    The parties hereto acknowledge and agree that for all purposes
              herein, FTV1 and FTV2 shall, collectively, be considered to be
              a single Strategic Partner and shall be jointly and severally
              liable for their compliance with the terms hereof.

       (b)    For purposes of simplifying the administration of the
              Corporation and to enable the other Shareholders to deal with
              FTV1 and FTV2 collectively with respect to those provisions
              hereof contemplating or allowing for the approval, consent,
              waiver or other exercise of rights by FTV as a Strategic
              Partner, or by FTV1 or FTV2 in its capacity as a Shareholder or
              for purposes of the delivery of Notices to or by FTV (or either
              of FTV1 or FTV2):

              (i)     each of FTV1 and FTV2 hereby appoints Financial
                      Technology Management, L.L.C. as its voting trustee in
                      respect of all of the Common Shares (the "Subject
                      Shares") which are now owned by either FTV1 or FTV2 or
                      are acquired by either of them from time to time
                      hereafter. Financial Technology Management, L.L.C.
                      shall be entitled, by its authorized representative,
                      proxy or attorney to exercise all voting rights
                      pertaining to the Subject Shares and to otherwise
                      represent FTV (including the members thereof) in
                      connection with initiating, taking part and consenting
                      to any action of the Corporation or other matter
                      concerning the Subject Shares contemplated hereunder or
                      any matter for which the waiver, consent, approval or
                      other action on the part of FTV (including any member
                      thereof) is required or permitted or otherwise
                      contemplated herein and shall be entitled, in its sole
                      and unfettered discretion, to make all decisions
                      relating to the business and affairs of the Corporation
                      and to
<PAGE>
                                     - 27 -

                      communicate to the other Shareholders its' decisions
                      on behalf of FTV (including any member thereof);

              (ii)    the Shareholders, other than FTV1 and FTV2, may rely
                      on, and accept any decisions and/or instructions
                      communicated verbally or in any other manner whatsoever
                      by Financial Technology Management, L.L.C. on behalf of
                      FTV, without further inquiry with FTV1 and FTV2;

              (iii)   in furtherance of the foregoing, FTV1 and FTV2 shall
                      from time to time and at all times during the term of
                      this Agreement (including upon a replacement of their
                      voting trustee as contemplated by Section 1.19(b)(iv))
                      put in place voting trusts and other arrangements as
                      shall be reasonably requested by the Corporation,
                      including the execution and delivery of appropriate
                      instruments of proxy or powers of attorney, to enable
                      or facilitate the exercise of any and all such powers
                      given to the Financial Technology Management, L.L.C.
                      under this Section 1.19 or otherwise for purposes of
                      enabling the collective administration of the aggregate
                      shareholding of FTV with respect to the Corporation, as
                      contemplated herein; and

              (iv)    FTV1 and FTV2 may collectively designate by notice in
                      writing to the other Shareholders and the Corporation a
                      replacement for Financial Technology Management, L.L.C.
                      as its voting trustee and the other Shareholders and
                      the Corporation shall be entitled to rely upon and
                      accept any decisions and/or instructions communicated
                      verbally or in any other manner whatsoever by such
                      replacement (at any time after the effective date of
                      such notice).

For purposes of any provision herein pursuant to which FTV is offered the right
or is subjected to the obligation to subscribe for shares or other securities of
the Corporation, the following provisions shall be applicable:

              (i)     unless otherwise allocated among FTV1 and FTV2 by
                      agreement between them prior to the time fixed for
                      closing, they shall purchase and the Corporation shall
                      issue or the Shareholder in question shall sell to FTV1
                      and FTV2, such shares or other securities at the
                      relevant time in the ratio of 27.0122 to one; and

              (ii)    for purposes of any provision of this Agreement
                      referring to the number of shares or other securities
                      of the Corporation held by FTV, the respective holdings
                      of FTV1 and FTV2 (together with the holdings of their
                      respective Permitted Transferees) shall be aggregated
                      for purposes of such reference.

Notwithstanding anything to the contrary contained in this Agreement, all
notices, consents, waivers, communications or other documents or instruments
required or permitted by the terms hereof to be given by the Corporation or
any other Shareholder to FTV1 and/or FTV2 shall be deemed to be properly
given and binding on them if the Notice is given to Financial Technology

<PAGE>
                                     - 28 -

Management, L.L.C. (or any replacement voting trustee, as applicable) in
accordance with Section 19.2.  Any Notice to be given by one or more of FTV1
and FTV2 to the Corporation or to one or more of the other Shareholders shall
be deemed to be properly given and binding on such Shareholder if the Notice
is given by Financial Technology Management, L.L.C. on behalf of such
Shareholder in accordance with Section 19.2.

1.20          SPECIAL PROVISIONS RELATING TO THE HSBC WARRANT

       (a)    For the purposes of Article 6 (Restrictions on Transfers of
              Shares) and Article 7 (Restrictions on Indirect Transfers of the
              Corporation), any reference to HSBC's shares or securities of the
              Corporation shall be deemed to include the HSBC Warrant or the
              Common Shares issuable under the HSBC Warrant.

       (b)    For the purposes of those provisions in this Agreement not
              contained in Article 6 and Article 7, any reference to HSBC's
              shares or securities of the Corporation shall be deemed not to
              include the HSBC Warrant or the Common Shares issuable under the
              HSBC Warrant unless and until the HSBC Warrant has been exercised
              and the underlying Common Shares thereunder have been issued to
              HSBC.

       (c)    Notwithstanding any of the provisions of the HSBC Warrant, the
              parties hereto covenant and agree that any waiver of any term or
              provision of the HSBC Warrant or any amendment, supplement or
              other modification of or to the HSBC Warrant, shall only be made
              with the prior written consent of the Corporation and all of the
              Strategic Partners together with the Founding Shareholder and
              until such written consent is obtained, any such waiver,
              amendment, supplement or other modification shall be of no force
              or effect.  Notwithstanding the general provisions of this Section
              1.20(c), the decision to extend the term of the HSBC Warrant shall
              be a Category 3 Material Decision provided that:  (i) if such term
              extends or could extend (including as a result of subsequent
              events) beyond the date which is 10 business days prior to the
              time or period in or under which BMO has the entitlement, or is
              entitled, to exercise its rights pursuant to Section 11.5 hereof
              (Special Provisions Relating to BMO's Pre-Emptive Right), then any
              such extension shall, in addition, require the implementation of
              binding contractual arrangements in favour of BMO which protect
              and maintain BMO's rights pursuant to Section 11.5 that would or
              could be prejudiced by such extension; and (ii) if such term
              extends beyond March 31, 2000 then any such extension shall
              require the prior written consent of the Founding Shareholder and
              all Strategic Partners.  Any such extension shall not be effective
              and shall have no force or effect until such required arrangements
              are entered into or consent is obtained.  The Corporation
              covenants and agrees that following the exercise of HSBC's rights
              under the HSBC Warrant, it shall give written notice in this
              regard forthwith to BMO.
<PAGE>
                                     - 29 -

                                     ARTICLE 2
                          TERMINATION OF PRIOR AGREEMENTS

2.1           AMENDMENT AND RESTATEMENT OF OCTOBER 19, 1999 UNANIMOUS
              SHAREHOLDERS' AGREEMENT/TERMINATION OF PRIOR AGREEMENTS.

              This Agreement amends and restates the October 19, 1999
Unanimous Shareholders' Agreement.  All prior agreements among some or all of
the parties hereto regarding the organization and affairs of the Corporation
and/or the sale of any Shareholder's Common Shares or securities of the
Corporation under certain circumstances, whether written or oral, are hereby
terminated including, without limitation, the letter of intent between the
Corporation, Blue Sky and BMO dated March 9, 1998, the letter of intent
between the Corporation and Bank of America National Trust & Savings
Association dated December 21, 1998, the Confidential Term Sheet among the
Corporation, CSTC and Sonera dated June 24, 1999, the Confidential Term Sheet
between the corporation and an Affiliate of WFC dated September 28, 1999, as
well as the April 1998 Unanimous Shareholders' Agreement.

                                     ARTICLE 3
                                     WARRANTIES

3.1           SHAREHOLDERS.

              Each Shareholder warrants that, as at the date hereof, and
acknowledges that the other Shareholders are relying upon such warranties in
entering into this Agreement:

       (a)    such Shareholder is the registered and beneficial owner of that
              number of issued and outstanding Common Shares or securities
              representing the right to acquire Common Shares as set out in
              Appendix "A" to this Agreement;

       (b)    except as provided in this Agreement, the Common Shares legally
              and beneficially owned by such Shareholder are free and clear
              of all claims, liens, security interests and encumbrances
              whatsoever and, except as provided pursuant to the Stock Option
              Plan and, except as provided in this Agreement (including
              Appendix "A" hereto), such Shareholder has not entered into, or
              become bound by, any other agreement or option or right capable
              of becoming an agreement for the purchase of any shares;

       (c)    except for BAC, CSTC, Sonera, WFC, FTV and HSBC such
              Shareholder is not a non-Canadian within the meaning of the
              INVESTMENT CANADA ACT (Canada); and

       (d)    except for BAC, CSTC, Sonera, WFC, FTV and HSBC such
              Shareholder is not a non-resident of Canada within the meaning
              of the INCOME TAX ACT (Canada).

              Each Shareholder covenants and agrees that if, in connection
with the business of the Corporation, or in connection with a share
transaction permitted by this Agreement, the Corporation or a Shareholder,
acting reasonably, so requests, the Shareholders will deliver written updates
of such representations (including with respect to BAC, CSTC, Sonera, WFC,
FTV and HSBC as to their status under the INVESTMENT CANADA ACT, or any other
statute).
<PAGE>
                                     - 30 -

              Citicorp hereby represents and warrants and acknowledges that
the other Shareholders are relying upon such representation and warranty in
entering into this Agreement, that as at the date hereof CSTC is an indirect
wholly-owned Subsidiary and that Citicorp is contracting herein: (I) as the
Principal of CSTC (and as the Principal of any other Affiliate of Subsidiary
of Citicorp or CSTC to which shares of the Corporation may subsequently be
issued or transferred); and (II) for the purposes contemplated in Article 18.

3.2           SHAREHOLDERS WHICH ARE CORPORATE OR OTHER ENTITIES.

              Each Shareholder which is not an individual further warrants
that, at the date hereof, and acknowledges that the other Shareholders are
relying upon such warranties in entering into this Agreement:

       (a)    such Shareholder is a corporation duly incorporated, or
              partnership or other entity duly formed, and in any case
              validly existing and in good standing under the laws of the
              jurisdiction of its incorporation and is qualified to do
              business and is in good standing in each jurisdiction in which
              it carries on business;

       (b)    such Shareholder has all necessary power, authority and
              approval to enter into this Agreement and to perform its
              obligations hereunder;

       (c)    all necessary action has been taken by such Shareholder to
              authorize the execution and delivery of this Agreement and the
              performance of its obligations hereunder, and this Agreement
              has been duly executed and delivered by such Shareholder and
              constitutes a legal, valid and binding obligation of such
              Shareholder enforceable against it in accordance with its
              terms; and

       (d)    neither the execution and delivery of this Agreement by such
              Shareholder, nor the performance of its obligations hereunder,
              will conflict with or result in the violation, contravention or
              breach of, or any default under, any of the terms or provisions
              of the constating documents or by-laws of such Shareholder or
              of any agreement, obligation, contract, commitment, law or
              regulation to which such Shareholder is a party or by which it
              is bound.

3.3           THE CORPORATION.

              The Corporation warrants and acknowledges that the Shareholders
are relying upon such warranties in entering into this Agreement that, as at
the date hereof:

       (a)    the Common Shares and other securities of the Corporation
              listed in Appendix "A" hereto are the only issued and
              outstanding Common Shares or securities of the Corporation;

       (b)    except for the Options and except as otherwise provided in this
              Agreement or the HSBC Warrant no person has any agreement or
              option or right capable of becoming an agreement for the
              purchase, subscription or issuance of any of the unissued
              Common Shares or any other securities of the Corporation;
<PAGE>

                                     - 31 -

       (c)    the Corporation has all necessary corporate power, authority
              and approval to enter into this Agreement and to perform its
              obligations hereunder;

       (d)    all necessary corporate action has been taken by the
              Corporation to authorize the execution and delivery of this
              Agreement and the performance of its obligations hereunder and
              this Agreement has been duly executed and delivered by the
              Corporation and constitutes a legal, valid and binding
              obligation of the Corporation enforceable against it in
              accordance with its terms; and

       (e)    neither the execution and delivery of this Agreement by the
              Corporation, nor the performance of its obligations hereunder,
              will conflict with or result in the violation, contravention or
              breach of, or any default under, any of the terms or provisions
              of the constating documents or by-laws of the Corporation or of
              any agreement, obligation, contract, commitment, law or
              regulation to which the Corporation is a party or by which it
              is bound.

3.4           QUALIFICATION OF REPRESENTATIONS AND WARRANTIES.

              Any representation or warranty made by a party hereto as to the
enforceability of any agreement against such party is subject to the following
qualifications:

       (a)    specific performance, injunction and other equitable remedies
              are discretionary and, in particular, may not be available
              where damages are considered an adequate remedy; and

       (b)    enforcement may be limited by bankruptcy, insolvency,
              liquidation, reorganization, reconstruction and other laws
              generally affecting enforceability of creditors' rights.

                                     ARTICLE 4
                               PROVISIONS FOR CONTROL

4.1           UNANIMOUS SHAREHOLDERS' AGREEMENT.

              It is the intention of the Shareholders that this Agreement
operate, constitute and be construed as a "unanimous shareholders' agreement"
for purposes of the Act, and the Shareholders agree that they shall be
accorded, and be subject to, all rights and obligations attendant upon
entering into such a "unanimous shareholders' agreement".  Each of the
Shareholders agrees to vote and act at all times as a shareholder of the
Corporation, and in all respects to use its best efforts to take all such
steps as may be reasonably within its power so as to cause the Corporation to
act, in the manner contemplated by the provisions of this Agreement and to
implement, to their full extent, the provisions of this Agreement and, to the
extent permitted by Applicable Law, to cause its respective nominees as a
director of the Corporation to so act.  Each party hereby acknowledges that
all acts taken by any director of the Corporation which accords with the
intent of this Agreement shall be considered by the parties hereto to be acts
undertaken in the best interests of the Corporation.
<PAGE>
                                     - 32 -

4.2           CORPORATE GOVERNANCE MATTERS.

              The Shareholders shall cause such meetings of the Corporation
to be held, votes cast, resolutions passed, by-laws enacted, documents
executed and all things and acts done to ensure the following continuing
arrangements with respect to the operation and control of the Corporation:

       (a)    (i)     Prior to an Initial Public Offering, the affairs of the
                      Corporation shall be managed by a Board of Directors
                      (the size of which is currently 11, but is subject to
                      change in the circumstances described in Section
                      1.1(mm)(vii), and otherwise in accordance with the
                      provisions of Section 4.2(d)(ii)) which shall at all
                      times consist of:

                      (A)    One nominee of each of:

                             (1)   subject to the provisions of Section 1.17,
                                   the Founding Shareholder (regardless of the
                                   level of its shareholdings in the
                                   Corporation),

                             (2)   those of the Strategic Partners as at August
                                   2, 1999 which hold at the relevant time at
                                   least 4% of the issued and outstanding Common
                                   Shares, or 3% for those Strategic Partners as
                                   at August 2, 1999 who have never sold or
                                   otherwise disposed of any Common Shares
                                   (other than to a Permitted Transferee), and

                             (3)   those of the Strategic Partners which became
                                   or become Strategic Partners after August 2,
                                   1999 and which hold at the relevant time at
                                   least 10% of the issued and outstanding
                                   Common Shares;

                      (B)    two directors selected by a majority of the
                             Strategic Partners from a list of five potential
                             candidates proposed in good faith by the
                             Founding Shareholder on the basis that they
                             would be Independent Directors; and

                      (C)    the balance of the number of directors from time
                             to time shall be selected by the Founding
                             Shareholder from members of the Management Team.

                      For greater certainty, all of the Shareholders covenant
                      and agree to vote their shares of the Corporation for the
                      election of the nominees of each of the Strategic
                      Partners and the Founding Shareholder as contemplated
                      above.

              (ii)    Should any vacancy occur on the Board of Directors, the
                      Shareholders shall be given prompt notice of such event
                      by the General Counsel of the Corporation, in
                      accordance with the notice provisions herein, and such
<PAGE>
                                     - 33 -

                      vacancy shall be filled forthwith by the appointment of
                      a nominee or nominees by the Shareholder(s) who shall
                      have appointed the former director who was not
                      re-elected or whose resignation or removal caused the
                      vacancy.  Until such vacancy is filled, the Board of
                      Directors shall not transact any business or exercise
                      any of its powers or functions, save and except as may
                      be necessary to appoint such new director(s) and/or
                      preserve the business and assets of the Corporation.
                      Provided that if a replacement director is not
                      appointed as aforesaid within 15 days of the date of
                      the General Counsel's notice of such vacancy occurring,
                      thereafter the directors then in office shall be
                      entitled to transact business and exercise all of the
                      powers and functions of the Board of Directors and,
                      further, for the purposes of this Agreement, the
                      unanimous decision of the directors then in office
                      shall constitute the unanimous decision of all of the
                      directors of the Corporation until such time as the
                      replacement director(s) is properly appointed and a
                      decision of a majority (or specified supermajority) of
                      the directors then in office shall constitute a
                      majority (or specified supermajority) decision of all
                      of the directors of the Corporation until such time as
                      the replacement director(s) is properly appointed.

              (iii)   For greater certainty and notwithstanding any provision
                      of the By-laws of the Corporation to the contrary, no
                      director or directors who are nominees of a Strategic
                      Partner or of the Founding Shareholder, as the case may
                      be (as provided in Section 4.2(a)(i)), may be removed
                      from the Board of Directors except in compliance the
                      provisions of Section 4.2(a)(i) or, if otherwise, with
                      the consent of the Shareholder(s) which shall have so
                      nominated them.  Shareholder(s) shall replace the
                      nominee(s) they are entitled to appoint if such
                      nominees are no longer eligible to serve as a director
                      pursuant to the Act or other Applicable Law.  Provided,
                      however, that if a Shareholder shall cease to be
                      entitled to appoint one or more nominees who are then
                      members of the Board of Directors, it shall forthwith
                      cause the resignation or removal of such nominee(s) to
                      which it is no longer entitled.

              (iv)    The Corporation shall at all times comply with Section
                      118(3) of the Act, to the extent that such section is
                      applicable to the Corporation, which requires that a
                      majority of the directors of the Corporation shall be
                      resident Canadians; and in furtherance thereof, each of
                      the Founding Shareholder and BMO agrees that its
                      nominee on the Board of Directors shall at all times be
                      a resident Canadian.  In the event that any of such
                      nominees is no longer a resident Canadian, then the
                      Founding Shareholder or BMO, as the case may be, shall
                      forthwith cause its nominee on the Board of Directors
                      to resign and nominate a director who is a resident
                      Canadian.  If the Founding Shareholder or BMO, as the
                      case may be, does not appoint a resident Canadian as a
                      replacement nominee director within 15 business days,
                      the Shareholders shall be entitled to temporarily
                      appoint a resident Canadian director, from a list of
                      nominees tabled by the Founding Shareholder, until such
                      time as the Founding Shareholder or BMO, as the
<PAGE>
                                     - 34 -

                      case may be, nominates a resident Canadian as its
                      representative on the Board of Directors and the
                      Shareholders appoint such nominee to the Board of
                      Directors.

       (b)    The officers of the Corporation, until changed in accordance
              with Section 5.1, shall be:

                    Chairman of the Board and      Gregory Wolfond
                    Chief Executive Officer

                    President, General Counsel     Christopher Erickson
                    and Secretary

                    Chief Operating Officer &      Kerry McLellan
                    Executive Vice-President,
                    Strategy

                    Chief Technology Officer       Andre Boysen

                    Chief Financial Officer        Karen Basian

              and such additional officers as Greg Wolfond may determine from
              time to time in accordance with Section 5.1.  Notwithstanding
              the foregoing, if an above-named officer resigns his office, a
              replacement shall be named in accordance with Section 5.1.

       (c)    A quorum for meetings of the Board of Directors shall consist
              of 75% of the members of the Board.  In the event that a quorum
              is not present at the time appointed for a meeting, or within
              such reasonable time thereafter as the directors present may
              determine, the meeting shall be adjourned to a fixed time and
              place (provided that at least 48 hours' notice (excluding
              Saturdays, Sundays and holidays) is given to all of the
              directors), and no further business shall be conducted at the
              adjourned meeting.  At the reconvened meeting, the quorum shall
              be a majority of the number of directors.

       (d)    Subject to the provisions of Section 1.15 hereof, the
              implementation of any matter that constitutes a Material
              Decision shall require the following approvals.  For greater
              certainty, a proposed decision, action or transaction which
              constitutes (or parts of which constitute) a Material Decision
              for which more than one approval requirement is specified shall
              be governed by the more rigorous approval requirement; and a
              matter specifically authorized in a duly approved
              budget/business plan that, when implemented, would otherwise
              have constituted an additional Category 3 Material Decision,
              need not be re-approved:

              (i)     for a CATEGORY 1 MATERIAL DECISION, (in each case, even
                      if the matter is contemplated in an approved budget or
                      business plan), approval by majority vote at a duly
                      convened meeting of the Board of Directors and the
                      written consent of Shareholders holding at least 90% of
                      the issued and outstanding Common Shares of the
                      Corporation;

<PAGE>
                                     - 35 -

              (ii)    for CATEGORY 2 MATERIAL DECISIONS, (in each case, even
                      if the matter is contemplated in an approved budget or
                      business plan), approval by majority vote at a duly
                      convened meeting of the Board of Directors and the
                      written consent of Shareholders holding at least 66
                      2/3rd% of the issued and outstanding Common Shares,
                      PROVIDED THAT:

                      (A)    any Material Decision described in Section
                             1.1(mm)(ix) that is approved in accordance with
                             this paragraph must also require that the
                             proposed sale price of the relevant asset was no
                             less than the price determined by an independent
                             valuation performed by a valuator selected by
                             the Board of Directors;

                      (B)    the Material Decision described in Section
                             1.1(mm)(x) that is approved in accordance with
                             this paragraph would trigger the events and
                             rights described in Section 15.4; and

                      (C)    the vote of a Strategic Partner which would,
                             directly or indirectly, (including through its
                             Affiliates and Associates) be the recipient of
                             the license contemplated in Section 1.1(mm)(xii)
                             shall not be counted for purposes of determining
                             whether the required approval of that matter has
                             been obtained;

              (iii)   for CATEGORY 3 MATERIAL DECISIONS, approval by majority
                      vote at a duly convened meeting of the Board of
                      Directors and the written consent of Shareholders
                      holding: (A) more than 50% of the issued and
                      outstanding Common Shares (provided that the Founding
                      Shareholder has voted its shares as part of such
                      majority); or (B) 66 2/3rd% of the issued and
                      outstanding Common Shares (if the Founding Shareholder
                      has not voted its shares as part of such special
                      majority).  If the Founding Shareholder does not vote
                      in favour of the proposed Material Decision, but the
                      written consent of Shareholders holding more than 50%
                      but less than 66 2/3rd% of the issued and outstanding
                      Common Shares has been obtained, then the following
                      procedure will be implemented: (A) a special committee
                      of the Board of Directors of the Corporation (the
                      "Special Committee") consisting of one of the directors
                      appointed to the Board of Directors by the Founding
                      Shareholder, the nominees on the Board of Directors
                      appointed by the Strategic Partners, together with the
                      Independent Directors, will be formed; (B) the Special
                      Committee will consider the merits of the proposed
                      Material Decision; and (C) if a majority of the members
                      of the Special Committee vote to approve the proposed
                      Material Decision, then the Material Decision will be
                      implemented, notwithstanding the objection of the
                      Founding Shareholder.  Conversely, if less than a
                      majority of the members of the Special Committee vote
                      in favour of the proposed Material Decision, then the
                      proposed Material Decision will not be implemented.
                      NOTWITHSTANDING THE FOREGOING:
<PAGE>

                                     -36-

                      (A)    subject to the provisions of Article 15, if the
                             proposed decision is that contemplated by Section
                             1.1(mm)(xxiii) (an Initial Public Offering), then
                             it shall be required that the Founding Shareholder
                             be part of the requisite majority; and

                      (B)    the approval of a Material Decision described in
                             1.1(mm)(xv) (access platforms) shall require that
                             at least one Strategic Partner that is a financial
                             institution votes in favour of such Material
                             Decision; and

              (iv)    for a CATEGORY 4 MATERIAL DECISION, approval by a
                      majority vote at a duly convened meeting of the Board of
                      Directors and the written consent of Shareholders holding
                      at least 71% of the issued and outstanding Common Shares.

              The Founding Shareholder and each of the Strategic Partners
              covenants and agrees that if its consent (or a waiver of its
              rights herein) is requested, it will act without undue delay.
              Each of the Strategic Partners further covenants and agrees that
              any Permitted Transferee of its shares of the Corporation shall
              not bind its discretion with respect to the voting of its shares
              of the Corporation (or with respect to requests for consents and
              waivers by the Corporation) in favour of any third party
              (including, in particular, such third parties as may hold an
              interest in Permitted Transferees not wholly-owned (directly or
              indirectly) by the Strategic Partners, as the case may be).

       (e)    The issuance of Common Shares or securities convertible into or
              exchangeable for Common Shares or any equity securities or any
              securities carrying rights, options or warrants to acquire such
              securities or Common Shares (except pursuant to the Stock Option
              Plan) shall require the following approvals and be subject to the
              following terms:

              (i)     If the proposed subscriber for such proposed issuance is
                      a new Strategic Partner,  the necessary approvals shall
                      have been obtained in accordance with Section 4.2(d)(iv)
                      and the provisions of Article 11 hereof (Pre-emptive
                      Rights) shall not be applicable (with the exception of
                      Sections 11.5, 11.6 and 11.7, to the extent applicable in
                      the circumstances).  The Founding Shareholder shall be
                      entitled to commence discussions with potential Strategic
                      Partners on a preliminary basis in order to ascertain
                      their interest in and the relative merits of, subscribing
                      for an interest in the Corporation as a Strategic
                      Partner.  The Founding Shareholder shall, at the earliest
                      moment practicable in the circumstances (bearing in mind
                      the disruption to the Strategic Partners of premature
                      discussions with them, on the one hand, and the needs of
                      the Corporation to maintain confidentiality and avoid
                      creating expectations on the part of the potential
                      Strategic Partner which might not meet with the approval
                      of the then existing Strategic Partners, on the other
                      hand) make a formal presentation to the Board of
                      Directors concerning the proposed transaction

<PAGE>

                                     -37-

                      and, in particular, the reasons why the proposed
                      Shareholder meets the definition of "Strategic Partner"
                      herein and the relative advantages and disadvantages of
                      accepting such investor as a Strategic Partner.  After
                      approval of the proposed transaction by the Board of
                      Directors, the Founding Shareholder shall have a
                      reasonable period of time during which to attempt to
                      garner the required support.  If the required written
                      approvals are not obtained within 120 days of the Board
                      of Directors' approval, any such transaction must be
                      resubmitted to the Board of Directors for discussion
                      and re-approval.  The proposed new Strategic Partner
                      shall be required to enter into this Agreement on
                      substantially the same terms as are applicable to the
                      then existing Strategic Partners and the preparation,
                      settlement and execution of the amended and restated
                      Agreement reflecting such new Strategic Partner shall
                      be conducted in accordance with the procedures set out
                      in Section 1.13 hereof; and

               (ii)   If the proposed issuance is to any person other than a
                      new Strategic Partner, such securities to be offered
                      shall (unless the transaction is specified to be exempt
                      from the application of Sections 11.1, 11.2, and 11.3
                      pursuant to Section 11.4) first be offered to the
                      Founding Shareholder together with the then existing
                      Strategic Partners on a PRO RATA basis in accordance
                      with the provisions of Article 11.  If the amount of
                      capital desired to be raised by the Board of Directors
                      has not been fully subscribed for by the Founding
                      Shareholder and the then existing Strategic Partners
                      (or any combination thereof) in accordance with the
                      preceding sentence: (I) the subscribing Shareholders
                      shall be offered the ability to subscribe for
                      additional securities on the same terms (PRO RATA to
                      their respective ownership of equity securities of the
                      Corporation immediately prior to the proposed
                      issuance), in one or more rounds as required until the
                      Corporation's capital requirement is satisfied or the
                      subscribing Shareholders are unwilling to subscribe for
                      additional equity; and (II) then, and only then, will
                      the Corporation be permitted to issue securities to the
                      proposed third party subscriber (provided that the
                      Corporation complies with the provisions of the second
                      paragraph of Section 11.2 hereof, which shall be deemed
                      to apply MUTATIS MUTANDIS), and then only to the extent
                      of the balance of the funds required. Further, if the
                      combined effect of any such share issuances results in
                      the circumstances contemplated by Sections 11.5, 11.6
                      or 11.7, additional issuances of Common Shares shall be
                      made to BMO and/or BAC and/or CSTC and/or Sonera and/or
                      the Founding Shareholder, as the case may be, pursuant
                      to and in accordance with the provisions of such
                      Sections.

       (f)    So long as at least one Strategic Partner is a Shareholder, the
              external accountants of the Corporation shall be any of one of the
              following accounting firms recognised as KPMG Inc.,
              PricewaterhouseCoopers, Arthur Andersen, Deloitte & Touche or
              Ernst & Young, or any successor thereto.

<PAGE>

                                     -38-

       (g)    Notwithstanding any by-law, resolution, determination, statutory
              rule or rule of procedure to the contrary, the chairman at any
              meeting of the Board of Directors or at any meeting of the
              Shareholders shall not be entitled to a second, extra or casting
              vote in the case of a tie vote at any such meeting.

       (h)    Notwithstanding any provision to the contrary in the Constating
              Documents of the Corporation, any or all of the directors or
              Shareholders may participate in meetings of the Board of
              Directors, of a committee of the Board of Directors, or of the
              Shareholders by means of such telephone, electronic or other
              communication facilities as permit all persons participating in
              the meeting to communicate with each other, simultaneously and
              instantaneously, and any director, committee member or
              Shareholder participating in such meeting by such means is
              deemed to be present at the meeting (except to the extent that
              the particular individual is participating by means of such
              telephone, electronic or other communication facilities solely
              for the purpose of objecting to the meeting being held on the
              basis that it has not been properly convened).  The
              Shareholders shall, if requested by the Corporation, provide
              written proxies and arrange for a physical quorum to be present
              at a particular location, and/or circulate for execution
              written resolutions, if required for the business conducted at
              the meeting to comply with the Act or other Applicable Law.

       (i)    No director who attends a meeting of the Board of Directors by
              means of such telephone, electronic or other communication
              facilities shall be permitted to, directly or indirectly,
              record, transcribe or otherwise reproduce or store such
              proceedings by any electronic or other means without the
              express, prior consent of all of the other directors attending
              such meeting, nor shall such director by any act or omission
              permit any other person to make such record, and any director
              who participates in the making of any such recording shall be
              deemed not to have acted honestly and in good faith with a view
              to the best interests of the Corporation.  The provisions of
              this Section 4.2(i) shall apply MUTATIS MUTANDIS to meetings of
              the Shareholders.

       (j)    The By-laws of the Corporation shall provide for written notice
              to be delivered to each member of the Board of Directors: (a)
              not less than ten business days before the time the meeting is
              to be held if the notice is mailed; or (b) not less than seven
              days before the time the meeting is to be held if the notice is
              given personally or is delivered or is sent by any means of
              transmitted or recorded communication, unless such notice is
              waived by the directors.  The Board of Directors shall hold
              regularly scheduled meetings at the head office of the
              Corporation at least quarterly, for which advance written
              notice shall be required.

       (k)    Independent Directors, directors that are members of the
              Management Team, and the nominee director of the Founding
              Shareholder shall be entitled to be reimbursed by the Corporation
              for their reasonable expenses incurred in attending meetings of
              the Board of Directors or committees of the Board of Directors
              (including travel, telephone, video conference and related
              expenses).

<PAGE>

                                     -39-

       (l)    The Board of Directors may from time to time resolve to pay
              reasonable directors' fees, however only to Independent
              Directors.

       (m)    The parties hereto acknowledge and agree that Common Shares or
              other equity or voting securities acquired pursuant to the
              exercise of Options granted under the Stock Option Plan
              (including for greater certainty any approved supplemental
              incentive compensation plan) shall be registered in the name of
              the Designated Representative (within the meaning given to such
              term in the Stock Option Plan) and held for safekeeping on his
              behalf by the Corporation's counsel, all as contemplated by the
              Stock Option Plan and, if applicable, any voting and deposit
              agreement entered into in connection therewith.  Further, such
              Common Shares held on behalf of Employee Shareholders shall be
              subject to the provisions of Section 4.7 of this Agreement.

4.3           LIMITATIONS ON LIABILITY/SHAREHOLDER PERSONAL INTEREST.

              No director or officer shall be liable for the acts, receipts,
neglects or defaults of any other director, officer, employee, or agent, or for
joining in any receipt or other act for conformity, or for any loss, damage or
expense happening to the Corporation through the insufficiency or deficiency of
title to any property acquired for or on behalf of the Corporation, or for the
insufficiency or deficiency of any security in or upon which any of the moneys
of the Corporation shall be invested, or for any loss or damage arising from the
bankruptcy, insolvency or tortious acts of any person with whom any of the
moneys, securities or effects of the Corporation shall be deposited, or for any
loss occasioned by any error of judgement or oversight on his part, or for any
other loss, damage or misfortune whatever which shall happen in the execution of
the duties of his office or in relation thereto, unless the same are occasioned
by his own wilful misfeasance.

              It is expressly agreed that Shareholders are permitted to
consider and pursue their own personal interests when acting as Shareholders,
except as required by Applicable Law or as contemplated herein.  Further,
except as required by Applicable Law and except as may be contemplated in any
contract, agreement or other commitment between the Shareholder and the
Corporation (or any Affiliate or Subsidiary or Associate thereof), no
Shareholder shall be personally liable for any debt, obligation or liability
of the Corporation (including, without limitation, any transaction risk or
liability arising from the Business or the business of any other
Shareholder), except as may be imposed by Applicable Law, PROVIDED that this
sentence is not intended to limit or restrict any obligation of, or
undertaking given by, any Shareholder (or Affiliate or Subsidiary or
Associate thereof) under any other contract, agreement or other commitment
with the Corporation.  No individual trustee, officer, director, stockholder,
member, partner, employee or agent of any Shareholder, in his or her
individual capacity as such, shall have any personal liability for any
failure by such Shareholder to perform, satisfy or discharge any obligation
or liability under this Agreement.

              The parties expressly acknowledge and agree that any person
appointed to the Board of Directors by a Strategic Partner, or the Founding
Shareholder, as the case may be, pursuant to Section 4.2(a) (a "Nominee") may
be an employee or officer of such Shareholder(s) or one or more of the
Affiliates thereof, or otherwise may not be independent from such persons.

<PAGE>

                                     -40-

              In the event that during any discussions with any member of the
senior management of the Corporation or in connection with, for the purposes
of, and/or concerning the business to be transacted at, a meeting of the
Board of Directors, such Nominee is aware of information which may be
relevant, pertinent or of interest to, the Business or to the Corporation
(the "Subject Matter") which information (the "Conflicting Information"):

       (I)    if disclosed to the Corporation would result:

              (a)     in a breach or contravention of a fiduciary duty owed by
                      such Nominee to such Shareholder(s) or to one or more of
                      the Affiliates thereof, or would otherwise result in such
                      Nominee, or such Shareholder(s) or one or more of the
                      Affiliates thereof, being in breach or contravention of,
                      or in default under, Applicable Law;  or

              (b)     in a breach or contravention of, or default under, any
                      term or provision of any agreement or commitment to which
                      such Nominee, or such Shareholder(s) or one or more of
                      Affiliates thereof, is a party or by which any such
                      person(s) is bound which specifically prohibits such
                      disclosure to be made; or

       (II)   constitutes trade secrets, strategic information, know-how,
              marketing plans, client lists or other proprietary information of
              such Shareholder(s) or any of its Affiliates,

then such Nominee shall, if such Conflicting Information is immediately
pertinent to the Subject Matter at the time of such discussion or meeting:
(i) disclose to such member of senior management of the Corporation in the
case of such discussion, or to the Chairman or the President of the
Corporation in the case of such meeting of the Board of Directors, the fact
that he/she is aware of such Conflicting Information, and at such time
describe in reasonable detail the general nature of such Conflicting
Information (provided, for greater certainty, that such description need not
contain any such detail which would result in a breach of the conflicting
duty); and (ii) excuse himself/herself from such discussion, or, in the case
of such meeting of the Board of Directors, from such meeting until such time
that the remaining members of the Board of Directors at such meeting have
fully and completely discussed the Subject Matter and have either reached a
resolution regarding the same or have adjourned any further discussion of the
Subject Matter until a future time and place, at which time the foregoing
provisions shall again apply (and so on from time to time; provided, for
greater certainty, that such Nominee may attend any such subsequent meeting
of the Board of Directors for the purposes of establishing a quorum).

              If such Nominee satisfies the foregoing, each party hereto
expressly waives and releases any and all claims, in any form, which it may
have against such Nominee, such Shareholder and any of its Affiliates,
whether based on common law (including, without limitation, the laws of
equity) or statute, for such Nominee's failure to disclose the Conflicting
Information.  The parties hereto acknowledge that the Shareholder who
nominated a Nominee to be a director of the Corporation holds the benefit of
the waiver, release and authorization

<PAGE>

                                     -41-

contained in this Section in trust for its own benefit and for the benefit of
such Nominee and its Affiliates from time to time.

              The parties hereto further hereby acknowledge that each Nominee
shall be required to enter into a form of confidentiality and non-disclosure
agreement with the Corporation (in form and substance satisfactory to the
Corporation, such Nominee and the Shareholder(s) who has appointed such
Nominee, and their respective counsel, each acting reasonably and in good
faith) which, in general, shall provide that such Nominee shall not, without
the prior written consent of the Corporation, disclose to the Shareholder(s)
who has appointed such Nominee and to any of the Affiliates and Subsidiaries
thereof or to any of the other Shareholders or their Affiliates and
Subsidiaries or to any of its and their officers, directors, employees,
consultants, agents, advisors, accountants, lawyers, attorneys or other
representatives, any Confidential Information revealed to such Nominee in
his/her capacity, and during his/her tenure, as a director of the Corporation
which the Corporation determines, acting in good faith, would, if disclosed
to Competitors, place, or potentially place, the Corporation at a strategic
or competitive disadvantage to any such Competitor, provided that the
Corporation indicates to such Nominee that such information is Confidential
Information which is not to be disclosed to the Shareholders or other persons.

              Provided, further, that the Nominee shall not be liable to the
Corporation or the other parties hereto if he acts in good faith in
discussing the information so obtained with representatives of, or advisors
to, the Shareholder which shall have appointed him to the Board of Directors
at any time prior to the Corporation indicating to such Nominee that such
information so disclosed is Confidential Information and is not to be
discussed with the Shareholders.  After such indication is made by the
Corporation, the Nominee will conduct himself in accordance with the
Corporation's instructions in this regard and any Shareholder which shall
have received such information shall, for greater certainty, be bound by the
provisions of Section 17.2 hereof.

4.4           INDEMNIFICATION OF DIRECTORS AND OFFICERS.

              As required or permitted by the Act, the Corporation shall
indemnify and save harmless every director or officer, every former director
or officer, and every person who acts or acted at the Corporation's request
as a director or officer of a body corporate of which the Corporation is or
was a shareholder or creditor (or a person who undertakes or has undertaken
any liability on behalf of the Corporation or any such body corporate) and
his heirs and legal representatives, from and against all costs, charges and
expenses, including an amount paid to settle an action or satisfy a
judgement, reasonably incurred by him in respect of any civil, criminal or
administrative action or proceeding to which he is made a party by reason of
being or having been a director or officer of the Corporation or such body
corporate, if:

       (a)    he acted honestly and in good faith with a view to the best
              interests of the Corporation; and

       (b)    in the case of a criminal or administrative action or proceeding
              that is enforced by a monetary penalty, he had reasonable grounds
              for believing that his conduct was lawful.

<PAGE>
                                     - 42 -

4.5           INSURANCE.

              Subject to the limitations contained in the Act, the
Corporation may purchase and maintain such insurance for the benefit of any
director or officer, as the Board of Directors may from time to time
determine.

4.6           EFFECT OF ARTICLE 4.

              The provisions of this Article 4 shall be in addition to and
not in substitution for any rights, immunities and protections to which every
director or officer, every former director or officer, and every person who
acts or acted at the Corporation's request as a director or officer of a body
corporate of which the Corporation is or was a shareholder or creditor (or a
person who undertakes or has undertaken any liability on behalf of the
Corporation or any such body corporate) and his heirs and legal
representatives, is otherwise entitled.

4.7           CERTAIN MATTERS PERTAINING TO EMPLOYEE SHAREHOLDERS AND
              MANAGEMENT SHAREHOLDERS

              Prior to an Initial Public Offering, any Employee Shareholder
shall vote or cause to be voted his Common Shares and any Common Shares held
by a Shareholder of which he is the Principal or held by a member of the
Immediate Family of such Employee Shareholder in the manner in which the
Founding Shareholder votes its Common Shares (either in favour or against
that particular matter) provided that any such vote:

       (a)    does not cause such Employee Shareholder (and/or the Shareholder
              of which he is the Principal and/or his Immediate Family which is
              the Shareholder) to be treated disproportionately with regard to
              the Founding Shareholder in terms of the effect of such matter on
              such parties' shareholdings in the Corporation;

       (b)    does not otherwise negatively impact or prejudice such Shareholder
              disproportionately relative to the Founding Shareholder; or

       (c)    is not illegal or against public policy.

              Prior to an Initial Public Offering, if any of the
circumstances contemplated by Section 18 of the Stock Option Plan (or
equivalent provisions of any supplementary incentive plan) become applicable,
then the Board of Directors, with appropriate notice and in a fair and
equitable manner, shall have the right and entitlement to cause the Employee
Shareholders and the Management Shareholders to tender, sell or escrow their
shares of the Corporation in the manner and on the terms contemplated by the
provisions of such Section 18. All determinations of the Board pursuant to
this Section 4.7 shall be conclusive and final.

4.8           CONFLICTS OF INTEREST.

              In the event that one or more of the nominees of the Founding
Shareholder on the Board of Directors may be viewed as having a potential
conflict of interest in a decision to be made by the Board of Directors as a
result of being a member of, or related or connected to, a member of the
Founding Shareholder, the parties hereby agree to cause such matter to be
placed
<PAGE>
                                     - 43 -

before the Shareholders for their approval at a duly constituted meeting of
the Shareholders, notwithstanding that such matter would not ordinarily be a
matter to be dealt with by the Shareholders.

4.9           RESOLUTION OF DISPUTES.

              The following procedure will be adhered to in all disputes
arising under this Agreement which the parties cannot resolve informally.  An
aggrieved party shall notify the Corporation, the Strategic Partners, the
Board of Directors, the Management Shareholders and the voting trustee for
the Employee Shareholders in writing of the nature of the dispute, with as
much detail as possible with respect thereto.  The Corporation (on behalf of
all of the parties hereto other than the aggrieved party), on the one hand,
and the aggrieved party, on the other, shall each appoint a representative to
meet (in person or by telephone) within seven days after the date of such
written notification, to attempt to reach an agreement about the nature of
the dispute and the corrective action to be taken by the respective parties.
 Similarly, if the Corporation is the aggrieved party, then it, on the one
hand, and the particular Shareholder(s) in respect of which it has the
dispute, on the other hand, shall appoint representatives to meet.  If the
respective representatives are unable to agree on corrective action, senior
executives of the parties to the dispute having authority to resolve the
dispute without the further consent of any other person shall meet or
otherwise act to facilitate an agreement within 14 days of such written
notification.  If such senior executives cannot resolve the dispute or agree
upon a written plan of corrective action to do so within seven days after
their initial meeting or other action, or if the agreed-upon completion dates
in the written plan of corrective action are exceeded, either party may
request arbitration as provided for below.  Except as otherwise specifically
provided, neither party to the dispute shall initiate arbitration unless and
until this dispute resolution procedure has been employed or waived.

              Either party to the dispute shall submit any dispute arising
from or relating to this Agreement, including any failure to agree on a
matter requiring agreement, and any claim based on or arising from an alleged
tort (except improper use or disclosure of the Corporation's proprietary
technology source code or as to ownership of the Corporation's intellectual
property), to arbitration in accordance with the provisions of Schedule "4.9"
hereto.

              No Shareholder shall have any right to obtain or seek an
injunction or otherwise delay any Company Registration or Demand Registration
as a result of any controversy that may arise with respect to the
interpretation or implementation of Article 13 or Article 14.  Provided,
however, that the provisions of the immediately preceding sentence shall not
preclude any Shareholder from claiming damages for breach of the provisions
of this Agreement, provided that such Shareholder has otherwise complied with
the provisions of this Section 4.9.

                                     ARTICLE 5
                              OPERATION AND FINANCING

5.1           COMPOSITION AND COMPENSATION OF MANAGEMENT TEAM

              For so long as Greg Wolfond holds the office of Chief Executive
Officer of the Corporation, he shall have the sole discretion and authority
to select the senior management team of the Corporation, and its Subsidiaries
and its Affiliates, including, but not limited to, the Chief
<PAGE>
                                     - 44 -

Operating Officer, President, General Counsel, Secretary, Chief Technology
Officer and Chief Financial Officer.  Greg Wolfond also has the sole
discretion and authority to propose the compensation of each of the
individual members of such management teams, including but not limited to
salaries, bonuses, stock option grants and other incentive compensation
arrangements, provided that: (i) the aggregate compensation of such
management teams shall not exceed the amount set in a budget approved in
accordance with the provisions of this Agreement; (ii) any stock option
grants or other incentive compensation arrangements involving the issuance of
securities are granted pursuant to the Stock Option Plan or other
arrangements approved in accordance with the terms hereof; and (iii) general
remuneration levels for designated management levels shall be set by a
Compensation Committee consisting of Greg Wolfond and two other directors (of
which at least one must be a nominee of a Strategic Partner, and none shall
be Management Directors) that are designated by him from time to time.

5.2           ACCOUNTANTS.

              The external accountants of the Corporation shall, at the
fiscal year end of the Corporation, prepare financial statements for such
fiscal year in accordance with GAAP (by no later than the 120th day after the
end of a fiscal year), including a balance sheet, a statement of earnings and
retained earnings and a statement of source and application of funds,
together with an audit report thereon.  Such financial statements shall also
include a reconciliation to applicable United States accounting standards, as
requested by any Strategic Partner, acting reasonably.  Unless otherwise
determined by the Board of Directors, but in any event so long as a Strategic
Partner (or its respective Affiliates or Subsidiaries) is a Shareholder, an
audit of the accounts of the Corporation shall be required.  If the Board of
Directors so determines, the parties hereto irrevocably direct the proper
officers of the Corporation to sign formal waivers of any requirement for an
audit on their behalf pursuant to Section 148 of the Act and/or to apply for
any regulatory approvals or discretionary relief in relation thereto.

5.3           INTERIM FINANCIAL STATEMENTS.

              The Corporation shall, in addition to the annual financial
statements contemplated by Section 5.2, prepare and distribute to the
Founding Shareholder, the Strategic Partners, the Management Shareholders and
the Non-Employee Directors interim unaudited (but full accrual) financial
statements for the first, second and third fiscal quarters of each fiscal
year, on or prior to the day which is 45 days after the day on which the
fiscal quarter ends. Such financial statements shall also include a
reconciliation to applicable United States accounting standards, as requested
by any Strategic Partner, acting reasonably.  Management of the Corporation
may, but shall not be obligated to, retain the external accountants of the
Corporation to review or otherwise assist in the preparation of such interim
financial statements.

                                     ARTICLE 6
                        RESTRICTIONS ON TRANSFERS OF SHARES

6.1           RESTRICTIONS ON TRANSFERS.

              Prior to an Initial Public Offering, each of the Shareholders
covenants that he or it will not sell, assign, transfer, pledge, mortgage,
charge, create a security interest in, hypothecate, enter into any agreement
or option to or otherwise dispose of, encumber or deal with any of the
<PAGE>
                                     - 45 -

shares legally or beneficially owned by him, except in accordance with the
terms of this Agreement.  The directors of the Corporation shall refuse to
permit the recording of a transfer of any shares which may have been
transferred otherwise than in accordance with the provisions of this
Agreement or if, as a result of such transfer, the number of Shareholders of
the Corporation (exclusive of persons who are in its employment and exclusive
of persons who having been formerly in the employment of the Corporation
were, while in that employment, and have continued after termination of their
employment to be, shareholders of the Corporation) would exceed 50 (two or
more persons who are the joint registered owners of one or more shares being
registered as one shareholder).

6.2           PERMITTED TRANSFERS

              Notwithstanding Section 6.1 hereof, but subject to the
provisions of Section 7.4(f) hereof, any or all of the Common Shares owned by
any of the Shareholders may be transferred by the Shareholders to a Permitted
Transferee of a Shareholder provided that such Permitted Transferee executes
and delivers to the Corporation a written acknowledgement substantially in
the form annexed hereto as Schedule "6.2" and satisfactory to the Corporation
that such transfer is in accordance with and subject to the terms of this
Agreement. Notwithstanding any such disposition, as between the disposing
Shareholder and the other parties hereto the disposing Shareholder shall
remain liable as principal debtor under all covenants on his part contained
herein and the disposing Shareholder agrees to unconditionally guarantee to
the other parties hereto the due performance by the acquiror of all
obligations imposed upon him hereunder.  The guarantee of the disposing
Shareholder is unconditional and may be enforced against him without
requiring the other parties hereto to first proceed against the acquiror or
to proceed against or exhaust any security held or to pursue any other remedy
whatsoever.  The disposing Shareholder hereby authorizes the other parties
hereto to renew, compromise, extend, accelerate or otherwise change the time
for payment or any term relating to the performance of any such obligations
or to otherwise amend any provision hereof and hereby waives presentment,
protest, notice of protest, notice of dishonour, demand for performance and
notice of acceptance of this guarantee by the other parties hereto.
Provided, however, that notwithstanding anything to the contrary contained in
this Agreement, securities of the Corporation shall not be transferred if
such transfer would result in the Corporation ceasing to be a "private
company" (as defined in the Securities Act) or, if regulatory approval is
required, until all such approvals are received.

6.3           PERMITTED TRANSFERS FOR FOUNDING SHAREHOLDER.

              Notwithstanding Section 6.1 hereof, any or all of the Common
Shares or any partial interest owned by a member of the Founding Shareholder
may be transferred by any member of the Founding Shareholder to a Permitted
Transferee of any such Shareholder or to another member of the Founding
Shareholder provided that any such Permitted Transferee or member of the
Founding Shareholder is not a Competitor or a Competitor of BMO and executes
and delivers to the Corporation a written acknowledgement substantially in
the form annexed hereto as Schedule "6.2" and satisfactory to the Corporation
that such transfer is in accordance with and subject to the terms of this
Agreement. Notwithstanding any such disposition to a Permitted Transferee or
to a member of the Founding Shareholder, as between the disposing Shareholder
and the other parties hereto, the disposing Shareholder shall remain liable
as principal debtor under all covenants on his part contained herein and the
disposing Shareholder
<PAGE>
                                     - 46 -

agrees to unconditionally guarantee to the other parties hereto the due
performance by the acquiror of all obligations imposed upon him hereunder.
The guarantee of the disposing Shareholder is unconditional and may be
enforced against him without requiring the other parties hereto to first
proceed against the acquiror or to proceed against or exhaust any security
held or to pursue any other remedy whatsoever.  The disposing Shareholder
hereby authorizes the other parties hereto to renew, compromise, extend,
accelerate or otherwise change the time for payment or any term relating to
the performance of any such obligations or to otherwise amend any provision
hereof and hereby waives presentment, protest, notice of protest, notice of
dishonour, demand for performance and notice of acceptance of this guarantee
by the other parties hereto.  Provided, however, that notwithstanding
anything to the contrary contained in this Section, securities of the
Corporation shall not be transferred if such transfer would result in the
Corporation ceasing to be a "private company" (as defined in the Securities
Act) or, if regulatory approval is required, until all such approvals are
received.

6.4           PLEDGE OF COMMON SHARES BY FOUNDING SHAREHOLDER.

              Notwithstanding Section 6.1 hereof, the Common Shares owned by
the Founding Shareholder may be pledged to fund BONA FIDE capital
contributions or loans made to the Corporation, provided that prior to the
creation of any such pledge the pledgee executes and delivers to the
Corporation and to the other Shareholders a written agreement satisfactory to
the Corporation which is addressed to the Corporation and the other
Shareholders wherein the pledgee agrees to assume all of the obligations of
the Founding Shareholder under this Agreement (including, without limitation,
those contemplated by Section  8.3) as if it were the Founding Shareholder
(with the exception of any matters, events, causes or liabilities pertaining
to the period prior to the time the pledgee becomes a Shareholder following
the exercise of any of its enforcement remedies in respect of any of the
Common Shares under Applicable Law) and covenants and agrees to be bound by
and subject to the terms, restrictions, provisions and conditions hereof,
including such terms, provisions and conditions relating to the disposition
of such Common Shares; and provided further that the pledgee is not a
Competitor or a Competitor of BMO.

                                     ARTICLE 7
                              RESTRICTIONS ON INDIRECT
                       TRANSFERS OF SHARES OF THE CORPORATION

7.1           MANAGEMENT AND EMPLOYEE SHAREHOLDERS - RESTRICTIONS ON TRANSFER.

              Each Management Shareholder and Employee Shareholder covenants
that, prior to an Initial Public Offering, so long as the member of their
respective Immediate Family in respect of which they are the Principal is a
Shareholder, they will not, and they will cause all members of their
Immediate Family who have interests in such Shareholder not to, sell, assign,
transfer, pledge, mortgage, charge, create a security interest in,
hypothecate, enter into any agreement or option to or otherwise dispose of,
encumber or deal with any securities of or interests in such Shareholder,
except in accordance with the terms of this Agreement or except with the
prior written unanimous consent of the Board of Directors.
<PAGE>
                                     - 47 -

7.2           MANAGEMENT AND EMPLOYEE SHAREHOLDERS - PERMITTED TRANSFERS.

              Prior to an Initial Public Offering, each Management
Shareholder and Employee Shareholder covenants that, so long as the
Shareholder of which he is the Principal is a Shareholder, no additional
shares, or securities convertible into, or warrants or rights to acquire
additional shares or securities of such Shareholder or other interests in
such Shareholder will be issued or created without the prior written approval
of the Board of Directors, save and except to such Principal or to any member
of his Immediate Family (who is not a Competitor or a Competitor of BMO) in
accordance with the provisions of this Agreement, provided that such
Shareholder or member of his Immediate Family executes and delivers to the
Corporation a written acknowledgement substantially in the form annexed
hereto as Schedule "6.2" and satisfactory to the Corporation that such
transfer is in accordance with and subject to the terms of this Agreement.
No such issuance shall, however, be permitted or be valid or effective until
written notice thereof shall have been given by such Shareholder to the
Corporation and, where shares are issued to any member of the Immediate
Family of such Shareholder (who is not a Competitor or a Competitor of BMO),
until the acquiror of those shares shall have entered into a written
agreement with the parties hereto agreeing not to sell, assign, transfer,
pledge, encumber, mortgage, charge, create a security interest in,
hypothecate, enter into any agreement or option to or otherwise dispose of or
deal with any of the said shares except to the Shareholder, the Principal or
the Immediate Family of such Principal, provided that the provisions of this
Article are complied with, MUTATIS MUTANDIS, by the acquiror thereof.  Each
Shareholder and Principal in question agrees to unconditionally guarantee to
the other parties bound hereby the due performance by the acquiror of all of
the obligations imposed upon him hereunder.  The guarantee of such
Shareholder and Principal is unconditional and may be enforced against either
one or both of such Shareholder and Principal without requiring the other
parties first to proceed against the acquiror or to proceed or exhaust any
security held or to pursue any other remedy whatsoever. Each Shareholder and
Principal hereby authorizes the other parties bound hereby to renew,
compromise, extend, accelerate or otherwise change the time for payment or
any term relating to the performance of any such obligations or to otherwise
amend the provisions hereof and hereby waives presentment, protest, notice of
protest, notice of dishonour, demand for performance and notice of acceptance
of this guarantee by the other parties bound hereby.

7.3           MANAGEMENT AND EMPLOYEE SHAREHOLDERS - PROHIBITION TO AMALGAMATE,
              MERGE, ETC.

              Prior to an Initial Public Offering, each Management
Shareholder and Employee Shareholder covenants that, so long as the
Shareholder of which he is the Principal is a Shareholder, he shall not cause
or permit such Shareholder to take part in any amalgamation, merger,
reorganization or similar proceeding, the effect of which would result in the
Principal in question and his Immediate Family owning less than 100% of the
issued shares or other interests of the resulting Shareholder from time to
time outstanding.

7.4           BMO, BAC, CSTC, SONERA, WFC, FTV AND HSBC - RESTRICTIONS ON
              TRANSFER AND PERMITTED TRANSFERS.

       (a)    The provisions of Section 7.1 and, except as provided in Section
              7.6 below, Sections 7.2 and 7.3 shall apply to BMO, MUTATIS
              MUTANDIS (including, for greater
<PAGE>
                                     - 48 -

              certainty, with references to "Immediate Family" changed to
              read "Permitted Transferees"), with respect to any Affiliates
              or Subsidiaries thereof to which shares of the Corporation
              shall be transferred by BMO or to which shares of the
              Corporation shall be issued and in respect of which BMO is the
              Principal.

       (b)    The provisions of Section 7.1 and, except as provided in
              Section 7.6 below, Sections 7.2 and 7.3 shall apply to BAC,
              MUTATIS MUTANDIS (including, for greater certainty, with
              references to "Immediate Family" changed to read "Permitted
              Transferees"), with respect to any Affiliates or Subsidiaries
              thereof to which shares of the Corporation shall be transferred
              by BAC or to which shares of the Corporation shall be issued
              and in respect of which BAC is the Principal.

       (c)    The provisions of Section 7.1 and, except as provided in
              Section 7.6 below, Sections 7.2 and 7.3 shall apply to Citicorp
              with respect to CSTC and to CSTC, MUTATIS MUTANDIS (including,
              for greater certainty, with references to "Immediate Family"
              changed to read "Permitted Transferees"), with respect to any
              Affiliates or Subsidiaries thereof to which shares of the
              Corporation shall be transferred by CSTC or to which shares of
              the Corporation shall be issued and in respect of all of which
              Citicorp is the Principal.

       (d)    The provisions of Section 7.1 and, except as provided in
              Section 7.6 below, Sections 7.2 and 7.3 shall apply to Sonera,
              MUTATIS MUTANDIS (including, for greater certainty, with
              references to "Immediate Family" changed to read "Permitted
              Transferees"), with respect to any Affiliates or Subsidiaries
              thereof to which shares of the Corporation shall be transferred
              by Sonera or to which shares of the Corporation shall be issued
              and in respect of which Sonera is the Principal.

       (e)    The provisions of Section 7.1 and, except as provided in
              Section 7.6 below, Sections 7.2 and 7.3 shall apply to WFC,
              MUTATIS MUTANDIS (including, for greater certainty, with
              references to "Immediate Family" changed to read "Permitted
              Transferees"), with respect to any Affiliates or Subsidiaries
              thereof to which shares of the Corporation shall be transferred
              by WFC or to which shares of the Corporation shall be issued
              and in respect of which WFC is the Principal.

       (f)    The provisions of Section 7.1 and, except as provided in
              Section 7.6 below, Sections 7.2 and 7.3 hereof shall apply
              MUTATIS MUTANDIS, to FTV1 and FTV2 with respect to their
              respective Permitted Transferees to which shares of the
              Corporation shall be transferred by FTV1 and FTV2 or to which
              shares of the Corporation shall be issued and in respect of
              which FTV is the Principal.

       (g)    The provisions of Section 7.1 and, except as provided in
              Section 7.6 below, Sections 7.2 and 7.3 shall apply to HSBC,
              MUTATIS MUTANDIS (including, for greater certainty, with
              references to "Immediate Family" changed to read "Permitted
              Transferees"), with respect to any Affiliates or Subsidiaries
              thereof to which shares of the Corporation shall be transferred
              by HSBC or to which shares of the Corporation shall be issued
              and in respect of which HSBC is the Principal.
<PAGE>
                                     - 49 -

       (h)    For greater certainty, each of BMO, BAC, CSTC, Sonera, WFC, FTV
              and HSBC may cause their directly or indirectly held
              shareholding in the Corporation to be transferred among their
              respective Affiliates or Subsidiaries, as the case may be as
              contemplated herein, subject only to: (i) the assignee being a
              "Permitted Transferee"; (ii) the assignee executing and
              delivering to the Corporation the written acknowledgement
              contemplated by Schedule "6.2"; (iii) the assignor
              acknowledging that it remains liable hereunder; and (iv) the
              assignor and assignee covenanting in favour of the Corporation
              and the other Shareholders that if the assignee might at any
              time thereafter cease to be a "Permitted Transferee", the
              shares of the Corporation held by the assignee shall be
              transferred (in accordance with the provisions of this
              Agreement) to some other affiliated entity which is a
              "Permitted Transferee" and in respect of all of which the
              original Shareholder (i.e., BMO, BAC, CSTC, Sonera, WFC, FTV
              and HSBC) shall remain liable hereunder as Principal.  For
              greater certainty, Citicorp shall, notwithstanding any such
              direct or indirect transfer, remain obligated as Principal of
              CSTC and of Permitted Transferees of CSTC as well.

7.5           FOUNDING SHAREHOLDER - RESTRICTIONS ON TRANSFER AND PERMITTED
              TRANSFERS.

              The provisions of Sections 7.1 and 7.2 and, except as provided
in Section 7.6 below, Section 7.3 hereof shall apply, MUTATIS MUTANDIS, to
each member of the Founding Shareholder with respect to their respective
Affiliates and Subsidiaries.  The members of the Founding Shareholder hereby
acknowledge and agree that notwithstanding that there is no restriction on
transfer of the shares of the Strategic Partners, the Founding Shareholder
shall not permit a transfer of the outstanding shares of the companies
forming part of the Founding Shareholder, except in compliance with the terms
hereof as if such transfer was a direct transfer of the Common Shares held by
the Founding Shareholder.

7.6           PERMISSIBLE INDIRECT TRANSFERS AND PERMISSIBLE AMALGAMATIONS FOR
              THE FOUNDING SHAREHOLDER AND THE STRATEGIC PARTNERS.

              For purposes of the application of Sections 7.2 and 7.3 to
Sections 7.4 and 7.5, a permissible amalgamation or a permissible issuance or
transfer of shares of an Affiliate or Subsidiary is one which results in the
successor Shareholder remaining an Affiliate or Permitted Transferee of the
Founding Shareholder or the Strategic Partner in question and in respect of
which such party remains the "Principal".

                                     ARTICLE 8
                                 DRAG-ALONG RIGHTS

8.1           APPLICATION.

              The provisions of this Article 8 shall apply prior to an
Initial Public Offering.  Notwithstanding the foregoing, the Founding
Shareholder may not exercise its right under this Article 8 at any time
before August 2, 2001 (i.e., the provisions of this Article 8 will not, prior
to such time, constitute an exception to the restrictions on transfer
provided by Article 6), without the express consent of all the Strategic
Partners then entitled to nominate a representative on the Board of Directors
pursuant to Article 4.
<PAGE>
                                     - 50 -

8.2           RIGHT OF FIRST OFFER

              Notwithstanding the provisions of Article 6 but subject to the
provisions of Section 8.1, in the event that the Founding Shareholder wishes to
sell all or any part of its Common Shares, it may pursue such sale or sales
provided that it observes the following rules and procedures (the "Right of
First Offer"):

       (a)    The Founding Shareholder may research the market for the shares
              that it proposes to sell in order to determine a fair market value
              for such shares and whether market conditions are optimal for such
              sale. In pursuing such investigation, the Founding Shareholder
              shall comply with the procedures stated in Section 15.2. The
              Founding Shareholder shall also be permitted to discuss its
              proposed sale and its opinions as to fair market value with the
              Strategic Partners and to gauge their views and interest in
              purchasing such shares. The Founding Shareholder need not obtain
              an offer from a third party prior to implementing the following
              procedures.

       (b)    If, having completed its review, the Founding Shareholder decides
              to pursue such sale, it shall, by notice in writing (in this
              Section 8.2, the "Offer"), offer to sell such number of Common
              Shares desired to be sold (in this Section 8.2, the "Offered
              Shares"), to the Strategic Partners, (the "Eligible Strategic
              Partner(s)") at a specified price, which must be paid in cash
              (unless otherwise specified by the Founding Shareholder), and upon
              specified terms and conditions as set out in the Offer (in this
              Section 8.2, the "Offer Price").  The Offer shall be open for
              acceptance by written notice delivered to the Founding Shareholder
              for a period of 15 business days, or if participation in the
              transaction requires approval of the board of directors of any
              Strategic Partner, up to 30 business days (in this Section 8.2,
              the "Notice Period").  If the Offer is accepted by at least one of
              the Eligible Strategic Partners during the Notice Period, then the
              Founding Shareholder shall sell, and those of the Eligible
              Strategic Partners which accepted the Offer (in this Section 8.2,
              the "Purchaser(s)") shall purchase all, but not less than all, of
              the Offered Shares at the Offer Price.  If more than one of the
              Eligible Strategic Partners has elected to purchase the Offered
              Shares, the Offered Shares shall be allocated among the Purchasers
              in proportion to their respective ownership of the Common Shares
              as at the date of delivery of the Offer, calculated based on the
              total number of Common Shares held by the Eligible Strategic
              Partners.  If, before the expiry of the Notice Period, none of the
              Eligible Strategic Partners accept the Offer, then the Founding
              Shareholder shall be entitled to seek or receive an offer from any
              person dealing at arm's length with the Founding Shareholder for
              the purchase of all or part of the Common Shares so offered for
              sale.

8.3           RECEIPT OF THIRD PARTY WRITTEN OFFER.

              If the Founding Shareholder has complied with the provisions of
Section 8.2 and receives a BONA FIDE written offer (in this Article 8, the
"Third Party Offer"), from any person dealing at arm's length with the Founding
Shareholder (in this Article 8, the "Offeror"), to purchase all or any part of
the Common Shares, which the Founding Shareholder wishes to

<PAGE>
                                     - 51 -

accept, then, notwithstanding the provisions of Article 6, the Founding
Shareholder shall have the right, but not the obligation, exercisable within
30 business days following receipt by it of the Third Party Offer, to: (i)
sell such Common Shares pursuant to the Third Party Offer; and, at its
option, (ii) to cause the other Shareholders (other than the Strategic
Partners and subject to Sections 8.4 and 8.5, as the case may be) to sell a
PRO RATA number of Common Shares to the Offeror by delivering a written
notice (in this Article 8, the "Notice") to the other Shareholders indicating
that it wishes to accept the Third Party Offer (and, if applicable, the
maximum number of shares of the Corporation that the Founding Shareholder
proposes to sell), together with a copy of the Third Party Offer, and that it
intends to exercise its drag-along rights hereunder. Notwithstanding the
foregoing, the Founding Shareholder shall not be entitled to accept the Third
Party Offer unless (a) the proposed purchase price per Common Share is equal
to or greater than the Offer Price, as defined in Section 8.2; (b) the Third
Party Offer is received by the Founding Shareholder within 120 days following
the expiry of the Notice Period; and (c) the proposed purchase is completed
within 60 days from the end of such 120 day period, failing which the
provisions of Section 8.2 shall apply again, and so on from time to time.
The Strategic Partners shall be entitled to require the Founding Shareholder
to provide sufficient information to them concerning such transaction for
them to determine that the Founding Shareholder has complied with its
obligations pursuant to Sections 8.2 and 8.3.

8.4           OFFER FOR ALL, OR ANY AND ALL, COMMON SHARES.

              In the event that the Third Party Offer is for the purchase of all
(or any and all) of the Common Shares and the Founding Shareholder elects to
exercise its drag-along rights by delivering the Notice to the other
Shareholders within the aforementioned period, all of the Shareholders shall,
subject to the provisions of this Article 8, do all things necessary and sign
such documents as are required to cause the Third Party Offer to be accepted
and: (i) as to the Common Shares held by the Strategic Partners and their
respective Affiliates and Subsidiaries, such Shareholders shall have the right,
but not the obligation, by written notice to the Corporation, the Offeror and
the Founding Shareholder, within 25 business days following receipt of the
Notice, to elect to sell all or part of their Common Shares under the Third
Party Offer; and (ii) as to the other Shareholders, such Shareholders shall sell
all of the Common Shares legally or beneficially owned by them to the Offeror.
Provided, however, that if the Founding Shareholder tenders less than all of the
Common Shares held by it to the Third Party Offer, the other Shareholders
required or electing to sell, as the case may be, shall only be compelled to
sell a PRO RATA portion of their Common Shares but shall remain entitled to
choose to sell a greater number of Common Shares pursuant to the Third Party
Offer.  In the event a Shareholder does not fulfil his obligation to sell as
provided for herein, such Shareholder hereby irrevocably appoints the Chief
Executive Officer of the Corporation, from time to time, as his attorney, in
accordance with the POWERS OF ATTORNEY ACT (Ontario), to execute all such
documents and to do all such things as may be necessary to accept the Offer and
to complete such transaction.

8.5           OFFER FOR LESS THAN ALL COMMON SHARES.

              In the event the Third Party Offer is to purchase less than all of
the Common Shares, the Founding Shareholder shall have the right, but not the
obligation, exercisable within 30 business days following receipt by it of the
Third Party Offer to deliver a written notice to the

<PAGE>
                                     - 52 -

other Shareholders indicating that it wishes to accept the Third Party Offer
and, if elected by the Founding Shareholder, to cause all other Shareholders
(other than the Strategic Partners and their respective Affiliates and
Subsidiaries) to accept the Third Party Offer on a PRO RATA basis with the
Founding Shareholder.

              The Strategic Partners shall have the right, but not the
obligation, to participate in the Third Party Offer with the Founding
Shareholder in the proposed transaction in accordance with the following
provisions.  Each Strategic Partner that desires to participate in such
transaction may do so by delivery of written notice (in this Section 8.5, a "Tag
Along Notice") to the Founding Shareholder indicating a desire to participate in
the Third Party Offer and specifying a maximum number of shares desired to be
sold, which shall not be greater than their pro-rata entitlement calculated in
the manner set forth in the fourth paragraph of this Section 8.5, and indicating
whether it desires to participate in the "Second Round" contemplated below on or
prior to the date which is ten business days after the date of delivery of the
Third Party Offer by the Founding Shareholder.

              All Shareholders participating in the transaction contemplated by
the Third Party Offer shall participate simultaneously with and conditional upon
the completion of the transaction of purchase and sale contemplated therein and
for the same consideration per share and otherwise on the same terms and
conditions as stated in the Third Party Offer.

              All of the Shareholders (including the Strategic Partners and the
Founding Shareholder, but only to the extent of the maximum number of shares
specified by them, respectively) who accept (either voluntarily or otherwise)
the Third Party Offer shall thereupon be obligated to sell that number of one or
more classes of shares of the Corporation held by them determined as follows:
each Shareholder shall sell that number of shares of a particular class of
shares of the Corporation which is the subject of the Third Party Offer as is
equal to the product obtained by multiplying: (a) the number of shares of such
class which is the subject of the Third Party Offer, by (b) a fraction, the
numerator of which is the number of shares of such class held by the Shareholder
and the denominator of which is the aggregate number of outstanding shares of
such class, all determined as at the date of the Third Party Offer.

              In the event a Shareholder does not fulfil his obligation to sell
as provided for herein, such Shareholder hereby irrevocably appoints the Chief
Executive Officer of the Corporation, from time to time, as his attorney, in
accordance with the POWERS OF ATTORNEY ACT (Ontario), to execute all such
documents and to do all such things as may be necessary to accept the Third
Party Offer and to complete such transaction.  Furthermore, in such event, the
provisions of Article 10 of this Agreement shall not apply.

              If the Third Party Offer contemplated by this Section 8.5 requires
the delivery of a number of Common Shares in excess of the number of Common
Shares to be sold as determined by the fourth paragraph of this Section 8.5
(such excess of Common Shares referred to in this Section 8.5 as the
"Unallocated Shares"), the Founding Shareholder shall give notice to those
Strategic Partners which have elected to participate in the Third Party Offer
(the "Unallocated Share Notice"), specifying such excess number of Common Shares
and the Strategic Partners who elected to participate in the Second Round (as
defined below) and whether the Founding Shareholder desires to participate in
the Second Round, and the following provisions shall apply:

<PAGE>
                                     - 53 -

       (a)    Each of the Founding Shareholder and those of the Strategic
              Partners which shall have elected to participate in the Third
              Party Offer (in this Section 8.5, collectively, the "Sellers") and
              which shall have elected to participate in the Third Party Offer
              to the fullest extent of their PRO-RATA entitlement (i.e. they
              have not limited their participation to a number of shares less
              than they would have been entitled to sell pursuant to the
              application of the numerical formula outlined above) and, in the
              case of the Strategic Partners which have indicated an intention
              to participate in the "Second Round" (as defined below) in their
              tag-along notice (collectively with the Founding Shareholder if it
              desires to participate in the Second Round, the "Second Round
              Sellers"), shall be entitled, by delivery of written notice (the
              "Participation Notice") to the Founding Shareholder within five
              business days following the delivery of the Unallocated Share
              Notice indicating that a Second Round allocation is required, to
              sell additional shares to the Offeror (such process hereinafter in
              this Section 8.5 referred to as the "Second Round").

       (b)    The Participation Notice shall specify a number of additional
              Common Shares that the particular Strategic Partner wishes to sell
              on the terms specified in the Third Party Offer.

       (c)    The number of additional Common Shares that each of the Second
              Round Sellers shall sell pursuant to the Third Party Offer shall
              be determined as follows:

              (i)     Each such Second Round Seller shall sell a number of
                      additional Common Shares equal to the lesser of: (I) its
                      PRO RATA share of the number of Unallocated Shares
                      (calculated with reference to the relative holdings of
                      equity shares of the Corporation as at the date of the
                      Third Party Offer represented by the Second Round
                      Sellers); and (II) the maximum number of shares specified
                      in the applicable Participation Notice (or, in the case
                      of the Founding Shareholder, since it does not deliver a
                      Participating Notice, such maximum number of shares that
                      it may determine);

              (ii)    The remaining Unallocated Shares, if any, shall be
                      allocated  among those Second Round Sellers which shall
                      not yet have been allocated the maximum number of shares
                      that they desire to sell, by one or more repetitions of
                      the Second Round procedures outlined above, until the
                      first to occur of: (I) the full allocation of the
                      Unallocated Shares; or (II) all Second Round Shareholders
                      having been allocated the maximum number of Common Shares
                      specified by them. In the latter case, any remaining
                      Unallocated Shares may be sold by the Founding
                      Shareholder, should it determine that the third party
                      purchaser is unwilling to complete the transaction unless
                      all Unallocated Shares are made available for sale.

8.6           TERMS OF SALE BY SHAREHOLDERS.

              In the event that the other Shareholders become obligated or elect
(as the case may be) to sell all or part of their Common Shares pursuant to the
operation of this Article 8, the

<PAGE>
                                     - 54 -

completion of such transaction(s) shall be conditional upon the completion of
the purchase and sale contemplated in the Third Party Offer and upon each
such Shareholder selling such shares on the same terms and receiving the same
consideration per share as the Founding Shareholder is receiving under the
Third Party Offer.  For greater certainty, on a sale of shares pursuant to
this Article 8, each Shareholder selling shares shall provide the Offeror
with such reasonable and customary covenants, representations and warranties
relating to the shares being sold by the particular Shareholder as well as
the nature and status of, and the substance of any default under, the
contractual arrangements between the particular Shareholder and the
Corporation or their respective Affiliates and Subsidiaries as shall be
generally consistent with those equivalent representations, warranties and
covenants given by the Founding Shareholder to the Offeror.  Such
representations, warranties and covenants shall be given on a several basis,
and not jointly or jointly and severally.

8.7           APPLICABILITY OF TAG-ALONG RIGHTS.

              In the event a Third Party Offer is received by the Founding
Shareholder and the Founding Shareholder elects to sell the Common Shares which
are the subject matter of such Third Party Offer and does not elect to exercise
its drag-along rights hereunder, the provisions of Article 10 shall apply.

8.8           SALES TO COMPETITORS.

              Notwithstanding any other provision of this Article 8, no sale of
less than all of the then issued and outstanding shares of the Corporation shall
be permitted to be made pursuant to this Article 8: (a) to a Competitor or a
Competitor of BMO; and (b) unless the Offeror executes and delivers to the
Corporation a written acknowledgement substantially in the form annexed hereto
as Schedule "6.2" and satisfactory to the Corporation that such transfer is in
accordance with the terms of this Agreement.

8.9           APPLICATION OF ARTICLE 8 TO STRATEGIC PARTNERS.

              For greater certainty, the Offeror shall have no right under this
Article 8 to require the Strategic Partners or any of their respective Permitted
Transferees to sell any shares, including Common Shares, held by such Persons
pursuant to any Third Party Offer.  Also, for greater certainty, any sale of
Common Shares pursuant to this Article 8 to any Strategic Partner shall be
subject to the restrictions and limitations set forth in Section 1.17(b).

                                     ARTICLE 9
                      RIGHT OF FIRST REFUSAL ON SHARES HELD BY
                   MANAGEMENT SHAREHOLDERS, EMPLOYEE SHAREHOLDERS
                             AND NON-EMPLOYEE DIRECTORS

9.1           APPLICATION.

              The provisions of this Article 9 shall apply prior to an Initial
Public Offering.  For greater certainty, transactions of purchase and sale of
the Purchased Shares contemplated by this Article 9 shall be permitted
notwithstanding the provisions of Article 6 hereof.

<PAGE>
                                     - 55 -

9.2           OFFER TO FOUNDING SHAREHOLDER AND THE STRATEGIC PARTNERS.

              If any Shareholder other than the Founding Shareholder and the
Strategic Partners (hereinafter in this Article 9 referred to as the "Offeror")
receives a BONA FIDE cash offer (hereinafter in this Article 9 called the
"Offer") from a Management Shareholder, Non-Employee Director or Employee
Shareholder to purchase all, or any part of, the Common Shares beneficially
owned by him, which is acceptable to him, he shall, by notice in writing
(hereinafter in this Article 9 called the "Second Offer"), offer to sell such
Common Shares (hereinafter in this Article 9 called the "Purchased Shares") to
the Founding Shareholder and to the Strategic Partners at the same price, which
must be paid in cash, and upon the same terms and conditions as are contained in
the Offer.  Such notice shall be accompanied by a true copy of the Offer and an
affidavit of the Offeror attesting whether, and if so to what extent, there are
commissions or other similar fees that may be or may become due and payable to
any broker, agent or other intermediary in connection with the sale of the
Purchased Shares pursuant to the Offer and, if applicable, stating the amount
thereof.  The Second Offer shall not be revocable except with the written
consent of the Founding Shareholder and the Strategic Partners and shall be open
for acceptance by written notice delivered by the Founding Shareholder, and/or
one or more of the Strategic Partners, as the case may be, for a period of 15
business days from the date upon which the Second Offer was given to the
Founding Shareholder and the Strategic Partners by the Offeror.  Notwithstanding
anything to the contrary herein contained, the terms and conditions contained in
the Second Offer shall be amended so that there shall be deducted from the
purchase price for the Purchased Shares payable pursuant to the Offer the amount
of any commission or other similar fee that would otherwise have been payable to
any broker, agent or other intermediary in connection with the sale of the
Purchased Shares pursuant to the Offer.

9.3           PURCHASE OF SHARES BY FOUNDING SHAREHOLDER AND THE STRATEGIC
              PARTNERS.

              If the Second Offer is accepted by at least one of the Founding
Shareholder and/or the Strategic Partners, as the case may be, then the Offeror
(hereinafter in this Article 9 called the "Vendor") shall sell, and those of the
Founding Shareholder and the Strategic Partners which shall have accepted the
Second Offer, as the case may be, (hereinafter in this Article 9, the
"Purchaser(s)"), shall purchase, all, and not less than all, of the Purchased
Shares (if more than one of the Strategic Partners and the Founding Shareholder
have elected to purchase, the Purchased Shares shall be allocated PRO RATA to
their respective beneficial ownership of Common Shares as at the date of
delivery of the Second Offer) upon the terms and conditions contained in the
Second Offer.  Unless otherwise agreed by them, the members of the Founding
Shareholder shall purchase the Purchased Shares to be purchased by them pro rata
to their respective beneficial ownership of Common Shares at the date of
delivery of the Second Offer.

9.4           SALE PURSUANT TO ORIGINAL OFFER.

              If, during the time limited therefor, none of the Founding
Shareholder and the Strategic Partners, as the case may be, shall have accepted
the Second Offer, then the Offeror shall be entitled to sell the Purchased
Shares in accordance with the Offer.  The Board of Directors before consenting
to the transfer of the Purchased Shares shall be entitled to require proof that
the sale took place in accordance with the Offer (except as to the date of
closing which, subject to the provisions of Section 9.5 hereof, may be varied).
The directors of the

<PAGE>
                                     - 56 -

Corporation shall refuse to permit the recording of the transfer of the
Purchased Shares which may have been sold otherwise than in accordance with
the provisions of this Agreement.

9.5           REVIVAL OF RIGHT OF FIRST REFUSAL.

              If a sale of the Purchased Shares pursuant to the Offer is not
completed within 60 days from the delivery of the Second Offer to the Founding
Shareholder and the Strategic Partners, as aforementioned, no sale of the
Purchased Shares pursuant to the Offer shall be made without again complying
with the terms of this Article 9, and so on from time to time.

9.6           CLOSING.

              The closing of the transaction of purchase and sale pursuant to
the Second Offer shall take place at the Place of Closing at the Time of Closing
on the date (hereinafter in this Article 9 called the "Date of Closing") which
is 15 days after the acceptance of the Second Offer by the Founding Shareholder
and the Strategic Partners, as the case may be.

9.7           PROHIBITED SALES.

              Notwithstanding any other provision of this Article 9, no sale of
Common Shares shall be permitted to be made pursuant to this Article 9:

       (a)    if such sale and subsequent transfer would result in the
              Corporation ceasing to be a "private company" (as defined in the
              Securities Act) or, if regulatory approval is required, until all
              such approvals are received;

       (b)    to a Competitor or a Competitor of BMO; and

       (c)    unless the Purchaser executes and delivers to the Corporation a
              written acknowledgement substantially in the form annexed hereto
              as Schedule "6.2" and satisfactory to the Corporation that such
              transfer is in accordance with and subject to the terms of this
              Agreement.

                                     ARTICLE 10
                                  TAG-ALONG RIGHTS

10.1          APPLICATION.

              The provisions of this Article 10 shall apply prior to an Initial
Public Offering, but shall not apply: (i) to a sale by the Founding Shareholder
in the circumstances contemplated by Article 8 (except pursuant to Section 8.7),
because the "tag-along rights" contemplated by Section 8.5 will apply; or
(ii) in the circumstances contemplated by Article 15 of this Agreement.

10.2          TAG-ALONG RIGHT.

              Notwithstanding the provisions of Article 6, but subject to the
provisions of Sections 8.1, 8.2 and Section 10.3, the Founding Shareholder or
any member of the Founding Shareholder shall have the right to sell Common
Shares to any arm's length third party which is

<PAGE>
                                     - 57 -

not a Competitor or a Competitor of BMO, provided that such arm's length
third party (in this Article, the "Offeror") executes and delivers to the
Corporation a written acknowledgement substantially in the form annexed
hereto as Schedule "6.2" and satisfactory to the Corporation that such
transfer is in accordance with and subject to the terms of this Agreement and
provided further that if the Founding Shareholder or any member of the
Founding Shareholder proposes to sell all or any portion of its Common Shares
pursuant to this Section 10.2, the proposed vendor shall, at least 25
business days prior to the date specified for completion of the transaction
of purchase and sale (in this Article 10, the "Offer"), give written notice
(in this Article 10, called a "Disposition Notice") to the other
Shareholder(s), exclusive of the Employee Shareholders, (in this Article 10,
the "Remaining Shareholder(s)") stating the nature and terms of the proposed
transaction, the maximum and/or minimum (as applicable) number of shares of a
particular class desired or required by the proposed purchaser  and the
consideration for such sale in reasonable detail together with a statement of
the maximum number of shares that the Founding Shareholder proposes to sell
and stating that each Remaining Shareholder has (and the Remaining
Shareholder(s) shall then have) the option to participate with the Founding
Shareholder in the transaction contemplated by the Offer in accordance with
the following provisions.

              Each Remaining Shareholder that desires to participate in the
Offer may do so by delivery of written notice (in this Article 10, a "Tag-Along
Notice") to the Founding Shareholder indicating a desire to participate in the
Offer and specifying a maximum number of shares desired to be sold, and
indicating whether it desires to participate in the "Second Round" contemplated
below, on or prior to the date which is ten business days after the date of
delivery of the Disposition Notice by the Founding Shareholder.  All
Shareholders (including the Founding Shareholder) participating in the Offer (in
this Article 10, the "Sellers") shall participate simultaneously with and
conditional upon the completion of the transaction of purchase and sale
contemplated in the Offer and for the same consideration per share and otherwise
on the same terms and conditions as stated in the Offer.

              Each Seller shall initially be entitled (and obligated) to sell up
to such number of shares of a particular class as is determined based on their
respective PRO RATA ownership of equity shares of the Corporation in accordance
with the following calculation, not to exceed the maximum number of shares of
the particular class specified in their Tag-Along Notice.

              For the purposes of the immediately preceding paragraph, the PRO
RATA SALE  entitlement of a particular Seller shall be calculated as follows.
Each Seller shall be allocated that number of shares of a particular class of
shares of the Corporation which is the subject of the Offer as is equal to the
product obtained by multiplying: (a) the number of shares of such class which is
the subject of the Offer by (b) a fraction, the numerator of which is the number
of shares of such class held by the Seller and the denominator of which is the
aggregate number of outstanding shares of such class, all determined as at the
date of the Offer.  In the event a Seller does not fulfil its obligation to sell
as provided for herein, such Shareholder hereby irrevocably appoints the Chief
Executive Officer of the Corporation, from time to time, as its attorney, in
accordance with the POWERS OF ATTORNEY ACT (Ontario), to execute all such
documents and to do all such things as may be necessary to accept the Offer and
to complete such transaction.

              If the Offer contemplated by this Article 10 requires the delivery
of a number of shares in excess of the number of shares to be sold as determined
by the immediately preceding

<PAGE>
                                     - 58 -

paragraph (such excess number of shares referred to in this Section 10.2 as
the "Unallocated Shares"), the Founding Shareholder shall give notice to
those Sellers which have elected to participate in the transaction
contemplated by the Offer (in this Section, the "Unallocated Share Notice"),
specifying such excess number of Common Shares and those Strategic Partners
who elect to participate in the Second Round (as defined below) and whether
the Founding Shareholder desires to participate in the Second Round. The
following provisions shall apply to the Unallocated Shares:

       (a)    Each of the Sellers which shall have elected to participate in the
              Offer to the fullest extent of their PRO RATA entitlement (I.E.
              they have not limited their participation to a number of shares
              less than they would have been entitled to sell pursuant to the
              application of the numerical formula outlined above), as outlined
              above, and which have (other than the Founding Shareholder)
              indicated an intention to participate in the "Second Round" (as
              defined below) in their Tag-Along Notice (inclusive of the
              Founding Shareholder should it elect to participate in the Second
              Round, collectively referred to as the "Second Round Sellers")
              shall be entitled, by delivery of written notice (the
              "Participation Notice") to the Founding Shareholder within five
              business days following the delivery of the Unallocated Share
              Notice, to sell additional shares to the Offeror (such process
              hereinafter in this Section 10.2 referred to as the "Second
              Round").

       (b)    The Participation Notice shall specify a number of additional
              shares of each class that the particular Second Round Seller
              wishes to sell on the terms specified in the Offer.

       (c)    The number of additional shares that the Founding Shareholder
              (should it so desire to participate in the Second Round) and each
              other Second Round Seller that shall have delivered a
              Participation Notice shall sell pursuant to the Offer shall be
              determined as follows:

              (i)     Each such Second Round Seller shall sell a number of
                      additional shares equal to the lesser of: (I) its PRO
                      RATA share of the number of Unallocated Shares
                      (calculated with reference to the relative holdings of
                      equity shares of the Corporation as at the date of the
                      Offer representing the Second Round Sellers); and (II)
                      the maximum number of shares specified in the applicable
                      Participation Notice (or, in the case of the Founding
                      Shareholder, since it does not deliver a Participation
                      Notice, such maximum number of shares that it may
                      determine);

              (ii)    The remaining Unallocated Shares, if any, shall be
                      allocated  among those Second Round Sellers which shall
                      not yet have been allocated the maximum number of shares
                      that they desire to sell, by one or more repetitions of
                      the Second Round procedures outlined above, until the
                      first to occur of: (I) the full allocation of the
                      Unallocated Shares; or (II) all Second Round Shareholders
                      having been allocated the maximum number of shares
                      specified by them. In the latter case, any remaining
                      Unallocated Shares may be sold by the Founding
                      Shareholder, should it determine that

<PAGE>
                                     - 59 -

                      the Offeror is unwilling to complete the transaction
                      unless all Unallocated Shares are made available for sale.

10.3          EFFECT OF EXERCISE OF TAG-ALONG RIGHT.

              For greater certainty, if a Remaining Shareholder gives a
              Tag-Along Notice, then:

       (a)    he or it shall be obligated to sell the shares specified in his
              Tag-Along Notice (and Participation Notice, if applicable) upon
              the terms specified in the Offer to the proposed purchaser under
              the Offer, conditional upon and contemporaneously with the
              completion of the transaction of purchase and sale contemplated in
              the Offer; and

       (b)    the Founding Shareholder agrees with the Remaining Shareholder(s)
              that it shall not sell any of its shares under such Offer unless
              payment for the shares of each of the Remaining Shareholders who
              gave a Tag-Along Notice (and Participation Notice, if applicable)
              which are to be included in such sale is made in accordance with
              the terms of the Offer.

10.4          TERMS OF SALE BY SHAREHOLDERS

              On any sale of shares pursuant to this Article 10, each
Shareholder selling shares shall provide the third party purchaser under the
Offer with such reasonable and customary covenants, representations and
warranties relating to the shares being sold by the particular Shareholder as
well as the nature and status of, and the substance of any default under, the
contractual arrangements between the particular Shareholder and the Corporation
or their respective Affiliates and Subsidiaries as shall be generally consistent
with the covenants, representations and warranties given by the Founding
Shareholder to such third party subscriber.  Such representations, warranties
and covenants shall be given on a several basis, and not jointly or jointly and
severally.

                                     ARTICLE 11
                                 PRE-EMPTIVE RIGHTS

11.1          PRE-EMPTIVE RIGHT.

              Subject to the provisions of this Agreement, if the Corporation
desires to issue any Common Shares or securities convertible into or
exchangeable for Common Shares or any other equity securities or other
securities carrying rights, options or warrants to acquire such securities or
shares (in this Article 11, the "Offered Securities"), it shall offer, by
written notice (in this Article 11, an "Offer") to each of the Founding
Shareholder and the Strategic Partners (in this Article 11, an "Offeree") the
number and type of securities (in this Article 11, the "Offered Securities")
which the Corporation desires to issue (the "Proposed Issuance") and the cash
price which the Corporation desires to receive per Offered Security (in this
Article 11, the "Offered Price").

<PAGE>
                                     - 60 -

11.2          OFFER TO THE FOUNDING SHAREHOLDER AND THE STRATEGIC PARTNERS.

              The number of Offered Securities which shall be offered to each of
the Founding Shareholder and the Strategic Partners, as the case may be, for
purchase at the Offered Price shall be the number of Offered Securities which,
if purchased by the particular Shareholder, would maintain its proportionate
equity ownership interest in the Corporation as at the date of the Offer
(calculated on a fully-diluted basis). The Offer shall set out the aggregate
number of Common Shares, securities convertible into or exchangeable for Common
Shares, or any other equity securities carrying rights, options or warrants to
acquire such securities or shares outstanding at the close of business on the
date of the Offer and the number of Offered Securities available for purchase by
the Offeree, shall limit the time within which the Offer may be accepted (which
time shall not be less than 20 business days from the date of the Offer) and
shall limit the time within which any purchase resulting from acceptance of the
Offer must be completed (which time shall not be less than 35 business days nor
more than 60 business days after the date of the Offer) and shall fix the time,
date and place for completion of any purchase resulting from acceptance of the
Offer.

              If an Offeree does not accept the Offer, or accepts it in respect
of less than its prescribed share of the Offered Securities: (i) the unclaimed
Offered Securities shall be first offered, for a period of 15 business days, in
the same relative proportions as the initial allocations referred to above, to
those of the Founding Shareholder and the Strategic Partners who shall have
subscribed for the full amount of the Offered Securities to which they were
entitled; and (ii) the balance of the unclaimed Offered Securities may then be
offered to such third-party persons (acting at arm's length with the Founding
Shareholder and the Strategic Partners and provided that any such third-party
person is not directly, or indirectly through its Affiliates and Subsidiaries, a
Competitor or a Competitor of BMO) as may be determined by the Board of
Directors at prices and on terms no less favourable to the Corporation than the
Offer;  provided, however, that such third-party persons become subject to the
Shareholders' Agreement (including, without limitation, by delivering a written
acknowledgement substantially in the form annexed hereto as Schedule "11.4") on
terms substantially equivalent to the rights and obligations of the Management
Shareholders (i.e. they should not be afforded the governance powers of the
Strategic Partners).  The provisions of Section 1.13 shall apply to the
amendment and restatement of the Shareholders' Agreement to reflect such
additional Shareholder, MUTATIS MUTANDIS.  Any such issuances to such third
party subscriber shall be completed within 60 days of the determination of the
number of securities to be offered to the third party subscriber, failing which
the provisions of Sections 11.1 and 11.2 shall again apply thereto and so on
from time to time.

11.3          PURCHASE BY OFFEREE.

              If the Offeree accepts the Offer in accordance with the terms
hereof, it shall be bound to purchase, take up and pay for, and the
Corporation shall be bound to issue, the Offered Securities to be purchased
by the Offeree in accordance with the foregoing provisions hereof, and the
Corporation shall promptly advise the Offeree of the number of the Offered
Securities to be purchased by the Offeree, whereupon the Corporation shall be
obliged to deliver to the Offeree at the time, date and place set out in the
Offer, certificates representing the Offered Securities registered in the
Offeree's name in a number equal to the number of the Offered

<PAGE>
                                     - 61 -

Securities to be purchased by it against payment made in full in cash of the
aggregate consideration therefor.  Unless otherwise agreed by them, the
members of the Founding Shareholder shall purchase the Offered Securities to
be purchased by them PRO RATA to their respective beneficial ownership of
Common Shares at the date of delivery of the Offer.

11.4          APPLICATION.

              The provisions of this Article 11 shall apply only prior to an
Initial Public Offering and, except as provided in Sections 11.5, 11.6 and 11.7,
shall not apply in respect of any of the following:

       (a)    Offered Securities declared and/or paid by the Corporation as
              dividends or distributions on its outstanding securities;

       (b)    Offered Securities of the Corporation issued as consideration for
              the purchase by the Corporation of property (whether tangible or
              intangible) in an arm's length transaction, provided that the
              person to whom securities of the Corporation are so issued
              executes and delivers to the Corporation a written acknowledgement
              substantially in the form annexed hereto as Schedule "11.4";

       (c)    Offered Securities issued or granted by the Corporation in the
              ordinary and normal course of business to any eligible person
              pursuant to the Stock Option Plan (including the issuance of
              Common Shares or other equity securities upon the exercise of
              stock options issued thereunder) (including, in each case, the
              issuance of Common Shares pursuant to the exercise of the
              subscription options or commitments contemplated therein),
              provided that such person, if not already a party hereto, executes
              and delivers to the Corporation a written acknowledgement
              substantially in the form annexed hereto as Schedule "11.4", as
              amended to reflect the status of the subscriber as a Non-Employee
              Director, Management Shareholder, Employee Shareholder or
              Strategic Partner (subject to Section 1.13), as the case may be;

       (d)    Offered Securities issued to another Shareholder pursuant to the
              exercise of their subscription right contemplated in Sections
              11.1, 11.2, 11.5, 11.6 or 11.7;

       (e)    securities of the Corporation issued upon the exchange or
              conversion of exchangeable or convertible securities of the
              Corporation or upon the exercise of rights, options or warrants of
              the Corporation (collectively, "Convertible Securities"), in each
              case in respect of which the provisions of this Article 11 applied
              at the time of the issuance of such Convertible Securities; and

       (f)    Offered Securities issued to a new Strategic Partner.

<PAGE>
                                     - 62 -

11.5          SPECIAL PROVISIONS RELATING TO BMO'S PRE-EMPTIVE RIGHT.

BASIC PRE-EMPTIVE RIGHT

              BMO shall have the benefit of the pre-emptive right contemplated
by Sections 11.1 and 11.2 (the "Basic Pre-emptive Right") (subject to the
provisions of Section 11.4) during the period commencing on the date hereof and
terminating on the earliest to occur of: (i) an Initial Public Offering; and
(ii) the date (in this Section 11.5, the "Termination Date") which is the later
of the BMO Secondary Anniversary and the termination of the BMO Continuing
Alliance.  The Basic Pre-emptive Right shall apply notwithstanding any dilution
in the equity ownership interest in the Corporation maintained by BMO from time
to time.

AMENDED BASIC PRE-EMPTIVE RIGHT

              From and after the Termination Date (but, for greater certainty,
only prior to an Initial Public Offering), BMO shall continue to benefit from
the provisions of Sections 11.1 and 11.2; however, such provisions shall, for
purposes of BMO's rights thereunder, be subject to the following amendments
(such amended subscription rights are hereby referred to as the "Amended Basic
Pre-emptive Right"):

              (i)     the right of BMO to subscribe for securities of the
                      Corporation shall be triggered only by the issuance of
                      equity shares of the Corporation (whether directly or
                      upon the conversion, exchange or exercise of Convertible
                      Securities constituting such equity shares) which would
                      result in a dilution of BMO's holdings of Common Shares
                      below 11.6% of the number of issued and outstanding
                      equity shares of the Corporation;

              (ii)    the number of Common Shares which BMO would be entitled
                      to purchase shall be such number of Common Shares not to
                      exceed that number which would result in BMO holding
                      11.6% of the total number of issued and outstanding
                      equity shares after the subject transaction is completed;

              (iii)   the Common Shares purchased by BMO pursuant to this
                      Section 11.5 shall be issued at the price per Common
                      Share (the "Designated Price") that the Common Shares are
                      issued or subscribed for pursuant to the subject
                      transaction (if applicable) unless the subject
                      transaction is the exchange, conversion or exercise of a
                      Convertible Security to which the provisions of Sections
                      11.1 and 11.2 hereof applied at the time of issuance
                      thereof; in which case the Designated Price shall be the
                      fair market value of the Common Shares at such time, as
                      determined by the Board of Directors acting reasonably;

              (iv)    the Amended Basic Pre-emptive Right shall apply with
                      respect to a Proposed Issuance contemplated by Section
                      11.1 notwithstanding the provisions of Sections 11.4(d),
                      (e) and (f) (however, for greater certainty, the Amended
                      Basic Pre-emptive Right shall not apply in the
                      circumstances contemplated by Sections 11.4(a), (b) and
                      (c)); and

<PAGE>
                                     - 63 -

              (v)     the Amended Basic Pre-emptive Right shall terminate and
                      shall thereafter cease and be of no further effect if BMO
                      does not purchase the maximum number of Common Shares
                      purchasable by it so as to maintain a proportional
                      holding of 11.6% of the number of issued and outstanding
                      equity shares of the Corporation.

SUPPLEMENTAL SUBSCRIPTION RIGHT

              During the term of the BMO Continuing Alliance (but prior to an
Initial Public Offering), without duplication of the Basic Pre-emptive Right or
the Amended Basic Pre-emptive Right, BMO shall have an additional right to
subscribe for Common Shares of the Corporation (the "Supplemental Subscription
Right").  The Supplemental Subscription Right shall apply so as to enable BMO to
maintain a holding of 11.6% of the then issued and outstanding equity shares of
the Corporation during the BMO Continuing Alliance (the Amended Basic
Pre-emptive Right has the same effect thereafter).  Pursuant to the Supplemental
Subscription Right: (i) if the Corporation issues Offered Securities; and (ii)
if applicable, BMO subscribes for the maximum number of Offered Securities
available to it in accordance with the provisions of Sections 11.1 and 11.2; and
(iii) the result of such transaction(s) (if applicable, in conjunction with
other issuances pursuant to Sections 11.1, 11.2, 11.6 and 11.7) is that BMO's
relative shareholding is diluted below 11.6% of the number of issued and
outstanding equity shares of the Corporation, then BMO shall be entitled, by
delivery of written notice to the Corporation by no later than 15th business day
after notice of the issuance of the Offered Securities in question is delivered
by the Corporation to BMO, to acquire that number of Common Shares of the
Corporation which is sufficient to maintain BMO's relative shareholding at 11.6%
of the number of issued and outstanding equity shares of the Corporation for a
subscription price per share equal to the Designated Price.

              BMO's Supplemental Subscription Right shall apply notwithstanding
the provisions of Sections 11.4(d), (e) and (f) but shall not apply in the
circumstances contemplated by Sections 11.4(a), (b) and (c).

BOARD REPRESENTATION PRE-EMPTIVE RIGHT

              In addition to (but without duplication of) BMO's Basic
Pre-emptive Right, Amended Basic Pre-emptive Right and Supplemental Subscription
Right, if, at any time prior to an Initial Public Offering, as a result of any
issuance of equity shares by the Corporation (including pursuant to ANY of the
events that would otherwise be excluded by Section 11.4), BMO would cease to be
entitled to nominate a member of the Board of Directors in accordance with
Article 4 hereof (i.e., BMO would cease to hold at least 4% (or 3%, as the case
may be) of the issued and outstanding Common Shares), then BMO shall have the
right to subscribe (the "Board Representation Pre-emptive Right"), during such
reasonable period of time, not to exceed 30 days, thereafter as the Board of
Directors shall prescribe, for such number of Common Shares sufficient to enable
it to retain its right of nomination, at a price per Common Share equal to the
Designated Price.

              The Board Representation Pre-emptive Right shall terminate and be
of no further effect if at any time BMO ceases to be entitled to nominate a
member of the Board of Directors

<PAGE>
                                     - 64 -

in accordance with the provisions of Article 4 and fails to exercise its
Board Representation Pre-emptive Right so as to retain its board nominee.

EFFECT OF MERGERS AND SIMILAR TRANSACTIONS

              BMO acknowledges and agrees that its rights under this Section
11.5, described under the headings "Amended Basic Pre-emptive Right" and
"Supplemental Subscription Right", shall terminate immediately upon the
completion of the merger of BMO and one or more entities which together result
in a person with more than 2 times the assets of BMO immediately prior to such
transaction, or series of transactions which effect such merger, provided
however, that such termination of rights shall not apply to, and shall not be
applicable in the context of, the merger of BMO as aforesaid with any bank
listed in Schedule I of the Bank Act as at August 2, 1999.

CALCULATING PERCENTAGE OWNERSHIP

              For the purposes of determining BMO's subscription entitlement
from time to time pursuant to this Section 11.5, as described under the headings
"Amended Basic Pre-emptive Right" and "Supplemental Subscription Right", BMO's
percentage holding of equity shares of the Corporation (both before and after
the pre-emptive right is exercised) shall be calculated by excluding from the
issued and outstanding capital of the Corporation the aggregate number of Common
Shares previously issued in the circumstances contemplated by Sections 11.4(a),
11.4(b), and 11.4(c).  For greater certainty, shares of the Corporation issued
pursuant to the Stock Option Plan shall not attract pre-emptive rights (other
than the Board Representation Pre-emptive Rights) and, for purposes of this
Article 11 only, such shares shall not be recognized for purposes of calculating
relative shareholding either before or after the transaction.

11.6          SPECIAL PROVISIONS RELATING TO BAC'S PRE-EMPTIVE RIGHT.

BASIC PRE-EMPTIVE RIGHT

              BAC shall have the benefit of the Basic Pre-emptive Right
contemplated by Sections 11.1 and 11.2 at all times until the earliest of: (i)
an Initial Public Offering; and (ii) the date (the "BAC Termination Date") which
is the later of: (a) February 1, 2001; and (b) the termination of the Continuing
Alliance (as defined in the BAC Technology License Agreement - hereinafter
referred to as the "BAC Continuing Alliance").  BAC's Basic Pre-emptive Right
shall apply regardless of its relative ownership of shares of the Corporation.

AMENDED BASIC PRE-EMPTIVE RIGHT

              From and after the BAC Termination Date but prior to an Initial
Public Offering, provided that BAC shall have purchased the BAC Option Shares
BAC shall, in lieu of its Basic Pre-emptive Right, have the benefit of an
Amended Basic Pre-emptive Right on the same terms and conditions as apply to BMO
pursuant to Section 11.5, MUTATIS MUTANDIS, except that the proportional holding
that BAC shall be entitled to maintain shall be only 8.5% of the issued and
outstanding equity shares of the Corporation.

<PAGE>
                                     - 65 -

SUPPLEMENTAL SUBSCRIPTION RIGHT

              During the term of the BAC Continuing Alliance (but prior to an
Initial Public Offering), provided that BAC shall have purchased the BAC Option
Shares, without duplication of the Basic Pre-emptive Right or the Amended Basic
Pre-emptive Right, BAC shall have a Supplemental Subscription Right on the same
terms and conditions as apply to BMO pursuant to Section 11.5, MUTATIS MUTANDIS,
except that BAC shall be entitled to maintain a holding of only 8.5% of the
issued and outstanding equity shares of the Corporation.

BOARD REPRESENTATION PRE-EMPTIVE RIGHT

              In addition to (but without duplication of) BAC's Basic
Pre-emptive Right, Amended Basic Pre-emptive Right and Supplemental Subscription
Right, if, at any time prior to an Initial Public Offering, as a result of any
issuance of equity shares by the Corporation (including pursuant to ANY of the
events that would otherwise be excluded by Section 11.4), BAC would cease to be
entitled to nominate a member of the Board of Directors in accordance with
Article 4 hereof (i.e. BAC would cease to hold at least 4% (or 3%, as the case
may be) of the issued and outstanding Common Shares), then BAC shall have a
Board Representation Pre-emptive Right on the same terms and conditions as apply
to BMO pursuant to Section 11.5, MUTATIS MUTANDIS.

              The Board Representation Pre-emptive Right shall terminate and be
of no further effect if at any time BAC ceases to be entitled to nominate a
member of the Board of Directors in accordance with the provisions of Article 4
and fails to exercise its Board Representation Pre-emptive Right so as to retain
its board nominee.

EFFECT OF MERGERS AND SIMILAR TRANSACTIONS

              The provisions of Section 11.5 "Effect of Mergers and Similar
Transaction" shall apply to BAC MUTATIS MUTANDIS, without regard to the
exception relating to mergers with a bank listed in Schedule I of the Bank Act.

CALCULATING PERCENTAGE OWNERSHIP

              For the purposes of determining BAC's subscription entitlement
from time to time pursuant to this Section 11.6, as described under the headings
"Amended Basic Pre-emptive Right" and "Supplemental Subscription Right", BAC's
percentage holding of equity shares of the Corporation (both before and after
the pre-emptive right is exercised) shall be calculated by excluding from the
issued and outstanding capital of the Corporation the aggregate number of Common
Shares previously issued in the circumstances contemplated by Sections 11.4(a),
11.4(b), and 11.4(c).  For greater certainty, shares of the Corporation, issued
pursuant to the Stock Option Plan shall not attract pre-emptive rights (other
than the Board Representation Pre-emptive Rights) and, for purposes of this
Article 11 only, such shares shall not be recognized for purposes of calculating
relative shareholding either before or after the transaction.

<PAGE>
                                     - 66 -

11.7          SPECIAL PROVISIONS RELATING TO THE FOUNDING SHAREHOLDER'S, CSTC'S
              AND SONERA'S PRE-EMPTIVE RIGHTS

BASIC PRE-EMPTIVE RIGHT

              Each of the Founding Shareholder, CSTC and Sonera shall be
entitled to an equivalent Basic Pre-emptive Right pursuant to the provisions of
Sections 11.1 and 11.2 hereof at all times prior to an Initial Public Offering
and regardless of the level to which their respective ownership of equity shares
of the Corporation has declined.

SUPPLEMENTAL SUBSCRIPTION RIGHT

              At all times prior to an Initial Public Offering, each of the
Founding Shareholder, CSTC and Sonera shall have a Supplemental Subscription
Right on the terms and conditions applicable to the Supplemental Subscription
Right to which BMO is entitled pursuant to Section 11.5 hereof, MUTATIS
MUTANDIS; provided, however, that the respective relative ownership levels of
equity shares of the Corporation to which such Supplemental Subscription Rights
shall apply shall be as follows:

              (i)     the Founding Shareholder: 18.7%;

              (ii)    CSTC: 15%; and

              (iii)   Sonera: 15%.

BOARD REPRESENTATION PRE-EMPTIVE RIGHT

              In addition to (but without duplication of) their respective Basic
Pre-emptive Right, Amended Basic Pre-emptive Right and Supplemental Subscription
Right, if, at any time prior to an Initial Public Offering, as a result of any
issuance of equity shares by the Corporation (including pursuant to ANY of the
events that would otherwise be excluded by Section 11.4), either CSTC or Sonera
would cease to be entitled to nominate a member of the Board of Directors in
accordance with Article 4 hereof, (i.e., CSTC or Sonera would cease to hold at
least 4% (or 3%, as the case may be) of the issued and outstanding Common
Shares) then such Shareholder shall have a Board Representation Pre-emptive
Right on the same terms and conditions as apply to BMO pursuant to Section 11.5,
MUTATIS MUTANDIS.  For greater certainty, the Founding Shareholder does not have
a "Board Representation Pre-emptive Right" as it is entitled to nominate a
director until it no longer holds any Common Shares, as provided in
Section 1.17.

              The Board Representation Pre-emptive Right shall terminate and be
of no further effect if at any time the particular Shareholder ceases to be
entitled to nominate a member of the Board of Directors in accordance with the
provisions of Article 4 and fails to exercise its Board Representation
Pre-emptive Right so as to retain its board nominee.

<PAGE>
                                     - 67 -

EFFECT OF MERGERS AND SIMILAR TRANSACTIONS

              The provisions of Section 11.5 "Effect of Mergers and Similar
Transaction" shall apply to the Founding Shareholder, Citicorp (with respect to
CSTC's pre-emptive rights) and Sonera, MUTATIS MUTANDIS; provided, however,
that: (i) such provision shall be read without reference to the exception
relating to mergers with a bank listed in Schedule I of the Bank Act; and (ii)
in the case of Citicorp/CSTC, the relevant merger threshold shall be calculated
with respect to the assets of Citigroup Inc.

CALCULATING PERCENTAGE OWNERSHIP

              For the purposes of determining the Founding Shareholder's, CSTC's
and Sonera's subscription entitlement from time to time pursuant to this Section
11.7, as described under the headings "Amended Basic Pre-emptive Right" and
"Supplemental Subscription Right", the Founding Shareholder's, Citicorp's and
Sonera's percentage holding (directly or indirectly) of equity shares of the
Corporation (both before and after the pre-emptive right is exercised) shall be
calculated by excluding from the issued and outstanding capital of the
Corporation the aggregate number of Common Shares previously issued in the
circumstances contemplated by Sections 11.4(a), 11.4(b), and 11.4(c).  For
greater certainty, shares of the Corporation, issued pursuant to the Stock
Option Plan shall not attract pre-emptive rights (other than the Board
Representation Pre-emptive Rights) and, for purposes of this Article 11 only,
such shares shall not be recognized for purposes of calculating relative
shareholding either before or after the transaction.

11.8          SUBSCRIPTION REPRESENTATIONS

              The Corporation shall be entitled, in connection with any
subscription for securities of the Corporation pursuant to Article 11, to
require the subscribing Shareholder to provide to the Corporation, in
writing, customary and typical representations as to the subscribing
Shareholder acting as principal, its investment intent and such other matters
as may be required by applicable securities laws.

11.9          EFFECT OF SHARE SALES ON SPECIAL PRE-EMPTIVE RIGHTS

              The references in Sections 11.5, 11.6 and 11.7 to the
numerically-specified relative shareholdings that each of BMO, BAC, CSTC,
Sonera and the Founding Shareholder are entitled to maintain pursuant to
their respective rights under the headings "Amended Basic Subscription
Rights" and "Supplemental Subscription Rights" (as applicable) shall be
deemed to be adjusted downward to the actual relative shareholding of any
such Shareholder in the event that such shareholder ever sells Common Shares,
such adjustment to be calculated immediately after the sale in question and
to apply perpetually thereafter.

<PAGE>
                                     - 68 -

                                     ARTICLE 12
                         CALL RIGHT CONCERNING MANAGEMENT,
                  NON-EMPLOYEE DIRECTORS AND EMPLOYEE SHAREHOLDERS

12.1          CALL RIGHT.

              Prior to an Initial Public Offering, if a Management
Shareholder, a Non-Employee Director or an Employee Shareholder (in this
Section, the "Departing Employee") shall for any reason cease to be an
employee of, or consultant to the Corporation and/or its Affiliates, the
Corporation (in this Section 12.1 called the "Purchaser") shall at any time
thereafter be entitled to send a notice in writing to the Departing Employee
requiring the sale of all of the shares of the Corporation beneficially owned
by the Departing Employee and any member of his Immediate Family (in this
Section 12.1, the "Purchased Shares") and on receipt of such notice, the
Departing Employee and his Immediate Family (collectively, in this Section
12.1, the "Vendor") shall sell to the Purchaser and the Purchaser shall
purchase for cancellation from the Vendor the Purchased Shares, upon the
terms and conditions hereinafter set forth.  If the Corporation shall be
prohibited pursuant to any contract or by Applicable Law (not entered into
with a view to affording the Founding Shareholder and the Strategic Partners
the right to exercise the Corporation's purchase rights pursuant to this
Section 12.1) to which it is a party or by which it is bound or pursuant to
the Act or Applicable Law from purchasing shares in its capital, or would
otherwise pursuant to such contractual arrangements be prohibited from
completing such transaction, the Founding Shareholder and the Strategic
Partners shall be entitled, but not obligated, to exercise the Corporation's
purchase rights pursuant to this Section 12.1 (and if more than one of such
Shareholders elect to participate they shall purchase on a basis pro rata to
their respective beneficial ownership of Common Shares as at the date of
delivery of such notice).  The members of the Founding Shareholder shall
purchase the Purchased Shares to be purchased by them pro rata to their
respective beneficial ownership of Common Shares at the date of delivery of
the Second Offer.  The Corporation or the purchasing Shareholder(s), as the
case may be, which is to purchase the Purchased Shares is referred to
hereafter as the "Purchaser".

12.2          CALCULATION OF PURCHASE PRICE.

              For the purposes of any transaction of purchase and sale
contemplated by this Article 12, the purchase price for the Purchased Shares
shall be the fair market value thereof determined effective as at the Date of
Closing of the transaction in question by the Board of Directors in good
faith and in consultation with professional advisers taking into
consideration such factors such as goodwill, cash flow, book value and recent
or anticipated material changes in the affairs of the Corporation.  The
parties hereto acknowledge that the Board of Directors shall initially
determine fair market value as being the greater of 1 times sales or 1.5
times book value and the parties hereto further acknowledge that such
determination by the Board of Directors shall, for the purposes of this
Agreement, be final and binding and no appeal shall lie therefrom.

<PAGE>
                                     - 69 -

12.3          CLOSING.

              The closing of the transaction of purchase and sale herein
contemplated shall take place at the Place of Closing at the Time of Closing
on the date (in this Article 12, the "Date of Closing") which is the later of
(i) the date which is 15 days after receipt by the Departing Employee of the
notice contemplated in Section 12.1; and (ii) the date which is 15 days after
the purchase price for the Purchased Shares is finally determined in
accordance with the provisions of this Article 12.

                                     ARTICLE 13
                      FOUNDING SHAREHOLDER REGISTRATION RIGHTS

13.1          DEMAND REGISTRATION.

       (a)    At any time after the earlier of: (I) the day which is nine months
              after an Initial Public Offering; and (II) June 1, 2004, the
              Founding Shareholder may (notwithstanding the provisions of
              Article 4 hereof) request in writing (a "Founding Shareholder
              Registration Request") that the Corporation qualify a prospectus
              for, or effect the registration of, all or a part of the
              securities of the Corporation owned by such Shareholder(s) under
              the securities laws of one or more of the Provinces of Canada
              and/or the United States.  Provided, however, that no Founding
              Shareholder Registration Request may be delivered after the fourth
              anniversary of the Corporation's Initial Public Offering.
              Provided, further, that if the inclusion in such offering of
              shares to be issued by the Corporation would result in such
              offering being the Corporation's Initial Public Offering, then the
              Corporation may include such number of shares in the offering as
              is considered advisable by the Board of Directors and the priority
              rules of Section 4(a) of Schedule "13.1" shall be applicable to
              the offering.  The Founding Shareholder may effect only two
              Founding Shareholder Demand Registrations (exclusive of any such
              Founding Shareholder Demand Registration which results in the
              Corporation's Initial Public Offering).

       (b)    Upon receipt of a Founding Shareholder Registration Request, the
              Corporation shall: (i) as soon as practicable, but in any event
              within five business days after receipt of such request, give
              written notice of such request to the Strategic Partners, the
              Management Shareholders and the Non-Employee Directors; and (ii)
              thereafter use all reasonable efforts to effect such qualification
              or registration, including therein securities with respect to
              which the Corporation has received written requests for inclusion
              therein from such other Shareholders (pursuant to their Piggyback
              Registration rights under Article 14) within 30 days after the
              receipt of the Corporation's notice, all in accordance with and
              subject to the provisions of Schedule "13.1". (All registrations
              pursuant to this Section 13.1 are referred to herein as "Founding
              Shareholder Demand Registrations".)

13.2          PIGGYBACK REGISTRATION.

              Whenever the Corporation proposes (other than pursuant to a
Founding Shareholder Demand Registration) to effect a Company Registration,
the Corporation will, no

<PAGE>
                                     - 70 -

later than five business days after the decision is made to proceed or
receipt of a Registration Request (as defined in Schedule "13.1") by another
holder of securities, give written notice to the Founding Shareholder of its
intention to effect such a registration, and such notice shall offer the
Founding Shareholder the opportunity to qualify or register (on the same
terms and conditions) such number of securities owned by such Shareholder(s),
as such Shareholder(s) may request (in this Article 13, a "Piggyback
Registration"). The Corporation will include in such Company Registration
securities with respect to which the Corporation has received a written
request for the inclusion therein from the Founding Shareholder within 30
days after the receipt of the Corporation's notice, all in accordance with
and subject to the provisions of Schedule "13.1".

              Notwithstanding the foregoing, the obligations described in this
Section 13.2 shall not apply to a Company Registration relating solely to
employee benefit plans on Form S-1 or Form S-8 or similar forms which may be
promulgated under U.S. Securities Laws (as defined in Schedule 13.1) in the
future, or a registration relating solely to a transaction covered by Rule 145
under the 1933 Act registered on Form S-4 or similar form which may be
promulgated in the future.

13.3          EXPIRY OF REGISTRATION RIGHTS.

              Notwithstanding any of the foregoing provisions, the
Corporation shall not be required to effect a Founding Shareholder Demand
Registration or include in a Piggyback Registration securities which the
Founding Shareholder has requested be included therein: (I) if the request of
the Founding Shareholder is made at any time after the date which is four
years from the Corporation's Initial Public Offering; or (II) if: (i) such
securities have ceased to be "restricted securities" pursuant to Rule 144 of
the 1933 Act and have become freely tradable upon the expiration of any
otherwise applicable hold period under Canadian securities laws (or any
similar provision under applicable securities laws); and (ii) an offering of
such securities would not be deemed to constitute a "distribution" within the
meaning of clause (c) of Subsection 1(1) of the Securities Act (or equivalent
provisions of Canadian securities laws); and (iii) the Founding Shareholder
holds less than 5% of the issued and outstanding equity shares of the
Corporation at the date of the request.

13.4          SHORT-FORM PROSPECTUS REGISTRATIONS

              In addition, the Founding Shareholder may request the registration
or qualification of its Common Shares or other equity shares of the Corporation
pursuant to a Short-Form Offering, as defined in and in accordance with and
subject to the terms of Section 3 of Schedule "13.1".

                                     ARTICLE 14
               REGISTRATION RIGHTS OF STRATEGIC PARTNERS, MANAGEMENT
                      SHAREHOLDERS AND NON-EMPLOYEE DIRECTORS

14.1          DEMAND REGISTRATION RIGHTS OF STRATEGIC PARTNERS

       (a)    Subject to the provisions of Article 15, at any time after the day
              which is nine months after an Initial Public Offering, the
              Strategic Partners, acting collectively as described below, may
              (notwithstanding the provisions of Article 4 hereof)

<PAGE>
                                     - 71 -

              request in writing (a "Strategic Partner Registration Request")
              the Corporation to qualify a prospectus for, or effect the
              registration of, all or a part of the Common Shares or other
              equity shares of the Corporation owned by such Shareholder(s)
              (on a PRO RATA basis to those Strategic Partners who wish to
              participate in such qualification or registration or on such
              other proportional basis as such Strategic Partners may
              otherwise agree) under the securities laws of one or more of
              the provinces of Canada and/or of the United States.  Subject
              to the preceding sentence, the exercise of any such collective
              demand registration rights (the "Strategic Partner Demand
              Registration") shall be implemented, governed by and otherwise
              subject to the direction of those members of such group of
              Strategic Partners which collectively holds a majority of the
              Common Shares owned by all Strategic Partners.  Provided,
              however, that no Strategic Partner Registration Request may be
              delivered after the fourth anniversary of the Corporation's
              Initial Public Offering.  The Strategic Partners may effect
              only two Strategic Partner Demand Registrations (exclusive of
              their rights pursuant to Article 15 to cause an Initial Public
              Offering).

       (b)    After the Initial Public Offering, any person which acquires from
              the then existing Strategic Partners in a particular transaction
              (or series of related transactions) at least 5% of the outstanding
              Common Shares shall be entitled to participate in the group
              Strategic Partner Demand Registration rights, the group Short Form
              Offering Registration rights and the Piggyback Registration rights
              contemplated by this Article 14 as if it were a Strategic Partner.

       (c)    Upon receipt of a Strategic Partner Registration Request, the
              Corporation shall: (i) as soon as practicable, but in any event
              within five business days after receipt of such request, give
              written notice of such request to the Founding Shareholder, the
              Management Shareholders and the Non-Employee Directors; and
              (ii) thereafter use all reasonable efforts to effect such
              qualification or registration, including therein securities with
              respect to which the Corporation has received written request for
              inclusion therein from such other Shareholders (pursuant to their
              Piggyback Registration rights under Article 13 and Article 14
              hereof) within 30 days after the receipt of the Corporation's
              notice, all in accordance with and subject to the provisions of
              Schedule "13.1".  (All registrations pursuant to this Section 14.1
              are referred to herein as "Strategic Partner Demand
              Registrations").

14.2          PIGGYBACK REGISTRATION RIGHTS OF STRATEGIC PARTNERS, MANAGEMENT
              SHAREHOLDERS AND NON-EMPLOYEE DIRECTORS

              Whenever the Corporation proposes to effect a Company
Registration, the Corporation will, no later than five business days after
the decision is made to proceed or receipt of a Registration Request by
another holder of securities, give written notice to the Strategic Partners,
the Management Shareholders and the Non-Employee Directors of its intention
to effect such a registration, and such notice shall offer such Shareholders
(exclusive of the Strategic Partners where such Company Registration results
from a Strategic Partner Demand Registration) the opportunity to qualify or
register (on the same terms and conditions) all or part of their Common
Shares, subject to the provisions of this Article 14 and Schedule "13.1".  The

<PAGE>
                                     - 72 -

Corporation will include in such Company Registration securities with respect
to which the Corporation has received written requests for the inclusion
therein from such Shareholders (complying with the provisions of this Article
14) within 30 days after the receipt of the Corporation's notice, all in
accordance with and subject to the provisions of Schedule "13.1".

              Notwithstanding the foregoing, the obligations described in
this Section 14.2 shall not apply to a Company Registration relating solely
to employee benefit plans on Form S-1 or Form S-8 or similar forms which may
be promulgated under U.S. Securities Laws (as defined in Schedule 13.1) in
the future, or a Registration relating solely to a transaction covered by
Rule 145 under the 1933 Act registered on Form S-4 or similar form which may
be promulgated in the future.

14.3          EXPIRY OF REGISTRATION RIGHTS.

              Notwithstanding any of the foregoing provisions, the
Corporation shall not be required to include securities in a Demand
Registration or Piggyback Registration which a Strategic Partner, a
Management Shareholder or a Non-Employee Director has requested be included
therein: (I) if such request is made at any time after the day which four
years after the Corporation's Initial Public Offering; or (II) if: (i) such
securities have ceased to be "restricted securities" pursuant to Rule 144 of
the 1933 Act with respect to such Shareholder and have become freely tradable
upon the expiration of any otherwise applicable hold period under Canadian
securities laws (or any similar provision under applicable securities laws);
(ii) an offering of such securities would not be deemed to constitute a
"distribution" within the meaning of clause (c) of Subsection 1(1) of the
Securities Act (or equivalent provisions of Canadian securities laws); and
(iii) the Shareholder in question then holds less than 5% of the issued and
outstanding equity shares of the Corporation.

14.4          SHORT-FORM OFFERING REGISTRATIONS

              In addition, the Strategic Partners, acting collectively as
contemplated in Section 14.1(a), may request the registration or
qualification of their Common Shares or other equity shares of the
Corporation pursuant to a Short-Form Offering as defined in and in accordance
with and subject to the terms of Section 3 of Schedule "13.1".

                                     ARTICLE 15
                                    EXIT OPTIONS

15.1          STRATEGIC PARTNERS' ABILITY TO CAUSE AN INITIAL PUBLIC OFFERING.

              If an Initial Public Offering has not occurred by June 1, 2004,
then, provided that a written notice invoking this Section 15.1 addressed to
the Corporation and signed by such number of Strategic Partners as is
required to represent a majority of the issued and outstanding Common Shares
and other equity securities of the Corporation, is delivered to the
Corporation, the Strategic Partners, the Management Shareholders and the
Non-Employee Directors, then the Strategic Partners which shall have executed
such notice (the "Exiting Partners"), acting jointly and with mutual consent,
shall be entitled, on behalf of the Corporation, to enter into discussions
with one or more securities dealers of recognised standing in Canada and/or
the United States with a view to obtaining a written representation (in this
Article 15, a "Representation")

<PAGE>
                                     - 73 -

addressed to such Exiting Partners and to the Corporation stating that such
securities dealer(s) is highly confident that it could at that time form and
lead a syndicate of underwriters to complete an Initial Public Offering which
would give rise to gross proceeds from the offering (inclusive of proceeds to
the Corporation and the Shareholders) in excess of US$20 million.  For
greater certainty, the allocation of available investor demand in the
offering between the shares that the Corporation desires to issue and sell,
on the one hand, and the shares which the Shareholders entitled to Piggyback
Registration rights desire to sell, on the other hand, shall be determined in
accordance with the priority rules of Section 4(a) of Schedule "13.1".  In
the event that such a Representation is obtained, then the Corporation will,
in co-operation with the Strategic Partners and the Founding Shareholder,
forthwith take all reasonable steps to implement and give effect to an
Initial Public Offering as contemplated by the Representation.  In this
regard, the Strategic Partners shall form a steering committee to act as a
point of contact for the Corporation to facilitate the co-operative process
by which the Corporation will conduct itself in pursuing the Initial Public
Offering initiated by the Exiting Partners. Management of the Corporation
will be directed to ensure that such steering committee is consulted and kept
informed on a regular basis.

15.2          SOLICITATION OF OFFERS FOR ALL OUTSTANDING COMMON SHARES.

              In the event that the Exiting Partners are unable to obtain a
Representation after having made such reasonable inquiries and having taken
such reasonable steps to obtain same in the United States and/or Canada, then
the Exiting Partners shall be permitted to solicit offers for the purchase of
all of the issued and outstanding Common Shares from third parties who are at
arm's length to the Strategic Partners and who are not, directly or
indirectly, Competitors (in this Article 15, a "Third Party"). However, if
the Exiting Partners together with any additional Strategic Partners (also
considered to be included as "Exiting Partners") deliver to the Corporation,
the Strategic Partners, the Management Shareholders and the Non-Employee
Directors a further written notice addressed to the Corporation invoking this
Section 15.2 and signed by such number of Strategic Partners which represent
66 2/3rd% of the issued and outstanding Common Shares and other equity
securities of the Corporation, then the Exiting Partners shall be entitled to
solicit offers from Third Parties that are Competitors (provided that such
third parties are at arm's length with the Strategic Partners).

              If the Exiting Partners receive a bona fide written cash offer
(in this Article 15, the "Offer") from a Third Party to purchase all of the
outstanding Common Shares and other equity securities of the Corporation,
which the Exiting Partners wish to accept, the Exiting Partners shall deliver
written notice of the Offer, together with a true copy thereof, to the
Corporation and to each of the other Shareholders indicating that they wish
to accept the Offer (or in the event of Offers which the Exiting Partners do
not wish to accept, they shall only deliver notice and a copy of the Offer).
The Founding Shareholder and the Strategic Partner, if any, which shall have
disagreed with the proposed course of action by the Exiting Partners(s) shall
have 20 business days from the receipt of the notice from the Exiting
Partners to decide whether to sell all of their Common Shares and other
equity securities of the Corporation to the Third Party pursuant to the Offer
together with the Exiting Partners or to purchase all of the Common Shares
and other equity securities of the Corporation of the Exiting Partners for
the same price per share and otherwise on the same terms (as between the
Founding Shareholder and the Strategic Partner(s) which shall not be an
Exiting Partner, such purchases shall take place on a several basis PRO RATA
to their respective ownership of Common Shares and other equity

<PAGE>
                                     - 74 -

securities of the Corporation).  The Founding Shareholder and the non-Exiting
Strategic Partner(s) shall make their decision known by written notice to the
Strategic Partners and each of the other Shareholders and to the Corporation
delivered on or prior to the 20th business day following receipt of the
Exiting Partners' notice, failing which the Founding Shareholder and the
non-Exiting Strategic Partner(s) shall be deemed to have elected to sell to
the Third Party.  If the Founding Shareholder together with the non-Exiting
Strategic Partner(s) elect or are deemed to have elected to sell to the Third
Party, then all Shareholders shall do all things necessary and sign such
documents as are required to cause the Offer to be accepted and to cause all
of the outstanding Common Shares and other equity securities of the
Corporation, to be sold to the Third Party in accordance with the terms of
the Offer (and to cause the acceleration of the vesting and expiry dates of
all outstanding Options pursuant to the Stock Option Plan so that the holders
thereof can and shall be compelled to tender to the Offer in the same
manner). If any Shareholder fails to tender his or her Common Shares and
other equity securities of the Corporation, they shall be deemed to have
irrevocably appointed the Chief Executive Officer of the Corporation as their
lawful attorney in accordance with the POWERS OF ATTORNEY ACT (Ontario) to
execute all such documents and to do all such things as may be necessary to
cause the Offer to be accepted and to complete such transaction.

              If the Founding Shareholder and/or the non-Exiting Strategic
Partner(s) shall have elected to purchase the shares of the Exiting Partners,
then the Offer shall not be accepted and instead the Exiting Partners and
their respective Affiliates and Subsidiaries which are then Shareholders (in
this Article, collectively called the "Vendor") shall sell to the Founding
Shareholder together with, if applicable, the non-Exiting Strategic
Partner(s) (in this Article, collectively called the "Purchaser") and the
Purchaser shall purchase from the Vendor all of the Vendor's Common Shares
and other equity securities of the Corporation, (in this Article, the
"Purchased Shares") for the cash price per share set out in the Offer and
such transaction of purchase and sale shall take place at the Place of
Closing at the Time of Closing on the date (in this Article, the "Date of
Closing") which is 20 days following the delivery of the written notice by
the Purchaser electing to purchase the Vendor's shares. If both the Founding
Shareholder and one or more non-Exiting Strategic Partner(s) elect to
purchase Common Shares, the Exiting Partners shall sell to them on a several
basis in proportion to the Purchaser's relative holdings of Common Shares and
other equity securities of the Corporation.

15.3          STRATEGIC PARTNER OFFER TO FOUNDING SHAREHOLDER AND OTHER
              STRATEGIC PARTNERS.

              The provisions of this Section 15.3 shall apply prior to an
Initial Public Offering.  In the event that a Strategic Partner wishes to sell
all, but not less than all, of its Common Shares (in this Section 15.3, the
"Exiting Strategic Partner"), it shall, by notice in writing (in this Section
15.3, the "Offer"), offer to sell such Common Shares  (in this Section 15.3,
collectively the "Offered Shares"), to the Founding Shareholder and the other
Strategic Partners (in this Section 15.3, the "Offerees") at a specified price,
which must be paid in cash (in this Section 15.3, the "Offer Price").  The Offer
shall be open for acceptance by written notice (in this Section 15.3, the
"Notice") delivered to the Exiting Strategic Partner specifying a number of
Common Shares desired to be purchased (which number shall not exceed the number
of Common Shares which is equal to the product obtained when: (1) the number of
Common Shares to be sold by the Exiting Strategic Partner is multiplied by (2) a
fraction the numerator of which is the number of

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                                     - 75 -

Common Shares held by the particular Offeree at the date of Offer and the
denominator of which is the aggregate number of Common Shares held by all of
the Offerees as at the date of the Offer) for a period of 15 business days
after receipt by the Offerees of the Offer (in this Section 15.3, the "Notice
Period").  In the event that, prior to the expiry of the Notice Period, no
Offeree specifies that it wishes to purchase any of the Exiting Strategic
Partner's Common Shares, the Exiting Strategic Partner shall not be permitted
to sell any of its Common Shares under this Section 15.3 pursuant to the
Offer.  If the Offer is accepted by at least one of the Offerees on or before
the expiry of  the Notice Period (in this Section 15.3,  the "First
Purchaser(s)"), then the Exiting Strategic Partner shall, by notice in
writing (in this Section 15.3,  the "Second Offer"), offer those Common
Shares which have not yet been accepted by the Offeree(s) under the Offer (in
this Section 15.3,  the "Remaining Common Shares"), to the First Purchaser(s)
only, at the same Offer Price. The Second Offer shall be open for acceptance
by written notice (in this Section 15.3,  the "Second Notice") delivered to
the Exiting Strategic Partner for a period of 15 business days after receipt
by the First Purchaser(s) of the Second Offer (in this Section 15.3,  the
"Second Notice Period").  Notwithstanding anything herein to the contrary,
the terms and conditions of the Second Offer shall be amended so that any
Offeree may purchase more than its PRO RATA portion of the Remaining Common
Shares.  If, under the Second Offer, an Offeree wishes to purchase more than
its PRO RATA portion of the Remaining Common Shares, it shall state, in its
acceptance of the Second Offer, the number of Remaining Common Shares it so
wishes to purchase.  In the event that, on or before the expiry of the Second
Notice Period, the Offerees under the Second Offer specify that they wish to
purchase, in the aggregate, all or more than all of the Exiting Strategic
Partner's Remaining Common Shares (in this Section 15.3,  the "Second
Purchaser(s)"), then each Second Purchaser shall purchase its PRO RATA
portion of the Remaining Common Shares (based on the number of Common Shares
owned by the Second Purchasers as at the date of the Offer).  The purchase by
the Purchaser(s) and the Second Purchaser(s) of the Exiting Strategic
Partner's Common Shares shall take place at the Place of Closing at the Time
of Closing on the date (in this Section 15.3, the "Date of Closing") which is
20 days following the delivery of the later of the Notice or Second Notice,
if required, to the Exiting Strategic Partner.  Notwithstanding the
foregoing, in the event that, on or before the expiry of the Second Notice
Period, the Offerees do not specify that they wish to purchase, in the
aggregate, all of the Exiting Strategic Partner's Common Shares, then the
Exiting Strategic Partner shall not be permitted to sell any of its Common
Shares under this Section 15.3.  Each Strategic Partner may only initiate the
provisions of this Section 15.3 once in any period of six consecutive months.

15.4          TERMINATION OF EMPLOYMENT OF GREG WOLFOND

              In the event that the Material Decision contemplated by Section
1.1(mm)(x) is implemented (or if Greg Wolfond resigns from the office of
Chairman and Chief Executive Officer for health reasons or dies), then,
notwithstanding anything to the contrary in this Agreement, the Founding
Shareholder shall thereafter have the right, but not the obligation, to
pursue the marketing and sale of all or part of its shares of the Corporation
in accordance with the Right of First Offer Procedures contemplated in
Sections 8.2 and 8.3. The balance of  Article 8 shall not apply. For example,
there shall be no restriction on the time before which such sales can occur,
and there shall be no "drag along rights" for the Founding Shareholder or
"tag along rights" for the benefit of the other Shareholders (pursuant to
Article 8 or Article 10).

<PAGE>
                                     - 76 -

However, the Founding Shareholder shall be prohibited from selling any of such
Common Shares to a Competitor of BMO.

15.5          GENERAL RULES, RIGHTS AND OBLIGATIONS PERTAINING TO EXIT OPTIONS.

              With respect to the ability of the Founding Shareholder to
solicit offers from time to time for all or a portion of the outstanding
Common Shares of the Corporation in accordance with Articles 8, 10 and 13
hereof, and for the purposes of the rights of the Founding Shareholder and
the Strategic Partners pursuant to this Article 15, each of the parties
hereto acknowledges and agrees and consents to the following arrangements:

       (a)    The soliciting Shareholder shall, provided that it acts in good
              faith with a view to protecting the interests of the Corporation,
              not be liable (and its agents and nominees similarly not liable)
              for breach of duty of confidentiality or other rights in favour of
              the Corporation or the other Shareholders as a result of such
              solicitations, provided that appropriate confidentiality
              undertakings and other reasonably prudent measures are put in
              place.

       (b)    The Corporation shall provide reasonable assistance at its cost to
              facilitate such solicitations, provided that appropriate
              confidentiality undertakings and other reasonably prudent measures
              are put in place.  Such assistance by the Corporation shall
              include the provision of information and documentation reasonably
              necessary to obtain bona fide offers for the purchase of the
              business of the Corporation as a going concern in a timely
              fashion, which sale may be by way of all or substantially all of
              the outstanding shares or sale of all or substantially all of the
              property, assets and undertaking of the Corporation.

       (c)    With respect to the pursuit of an Initial Public Offering as a
              result of the Founding Shareholder exercising its rights pursuant
              to Article 13 or pursuant to the exercise of the rights of the
              Strategic Partners under this Article 15, the Corporation and the
              Shareholders shall act reasonably and in good faith with a view to
              assisting the implementation and completion of such a transaction
              and covenant and agree to enter into such undertakings, to deliver
              such representations and to place such shares into regulatory or
              contractual escrows as may be reasonably required in the
              circumstances.  Each of the Shareholders hereby constitutes and
              appoints the Chief Executive Officer of the Corporation from time
              to time as his lawful attorney in fact pursuant to the POWERS OF
              ATTORNEY ACT (Ontario) in connection with the taking of such steps
              and the signing of all applicable documentation.  If,
              notwithstanding the foregoing, an Initial Public Offering cannot
              be implemented or proceeded with as a result of the refusal of one
              or more Shareholders to agree, consent, perform a step or deliver
              a document or otherwise or if any other impediment shall arise
              with respect to the completion of such a transaction, the parties
              hereto shall cause the Corporation to pursue, in a reasonable
              manner, an alternative transaction pursuant to which all or
              substantially all of the property, assets and undertaking of the
              Corporation are distributed to a Subsidiary of the Corporation and
              shares of such Subsidiary are qualified for distribution pursuant
              to the Initial Public Offering.

<PAGE>
                                     - 77 -

       (d)    In connection with any such exit options, all reasonable expenses
              of or incidental to such transaction shall be borne by the
              Corporation (provided that reasonable notification of significant
              expenditures is given to the Corporation and its consent is
              obtained) unless prohibited by Applicable Law, including the
              policies and rules of securities regulators.  Each of the parties
              hereto covenants and agrees to act reasonably and in good faith
              with a view to co-ordinating all activities in respect of exit
              options with a view to minimising expenses, avoiding duplicate
              effort and avoiding conflicting or inconsistent marketing and
              business strategies.

                                     ARTICLE 16
                              GENERAL SALE PROVISIONS

16.1          APPLICATION.

              Except as may otherwise be provided in this Agreement, the
provisions of this Article 16 shall apply to any purchase for cancellation of
Common Shares or the purchase by any Shareholder of the shares of any other
Shareholder pursuant to the provisions of Articles 8, 9, 10, 12 or 15,
MUTATIS MUTANDIS.

              Notwithstanding the foregoing:

              (i)      the provisions of Section 16.3(a) shall only apply to a
                      Strategic Partner selling all of its remaining shares of
                      the Corporation; and

              (ii)    the provisions of Section 16.3(d) and Section 16.3(f)
                      shall only apply to transactions pursuant to Article 9 or
                      Article 12.

16.2          DEFINED TERMS.

              For the purpose of this Article 16, the terms "Vendor", "Date
of Closing" and "Purchased Shares" or similar phrases shall have the meanings
attributed thereto in Articles 8, 9, 10, 12 or 15 hereof, as the case may be,
and the term "Purchaser" shall mean the Corporation or the Shareholder(s) who
are purchasing the Purchased Shares, as the case may be.

16.3          CLOSING.

              At the Time of Closing, the Vendor shall:

       (a)    if requested by the Corporation, deliver to the Corporation signed
              resignations of the Vendor, its Principal and his nominees, if
              any, as directors, officers and employees of the Corporation, as
              the case may be;

       (b)    assign and transfer to the Purchaser the Purchased Shares being
              purchased and shall deliver the required share certificate(s) duly
              endorsed for transfer;

       (c)    do all other things required in order to deliver good and
              marketable title to the Purchased Shares to the Purchaser free and
              clear of any claims, liens and encumbrances whatsoever including,
              without limitation, the delivery of any

<PAGE>
                                     - 78 -

              governmental releases and declarations of transmission.
              Provided that if, at the Time of Closing, the Purchased Shares
              are not free and clear of all claims, liens and encumbrances
              whatsoever, the Purchaser may, without prejudice to any other
              rights which it may have, purchase the Purchased Shares subject
              to such claims, liens and encumbrances.  In that event, the
              Purchaser shall, at the Time of Closing, assume all obligations
              and liabilities with respect to such claims, liens and
              encumbrances and the purchase price payable by the Purchaser
              for the Purchased Shares shall be satisfied, in whole or in
              part, as the case may be, by such assumption;

       (d)    if all the shares of the Corporation held by the Vendor are being
              sold, deliver to the Corporation and each of its directors a
              release by each of the Vendor, its Principal, and his nominees, if
              any, of all his claims against the Corporation and each of its
              officers and directors with respect to any matter or thing up to
              and including the Time of Closing which the Vendor, its Principal
              or any such nominee knew or reasonably ought to have known as of
              the Time of Closing in his capacity as a director, officer,
              shareholder, employee or creditor of the Corporation or as a party
              to this Agreement, as the case may be, except for (i) any claims
              relating to indebtedness owing to or by the Corporation, (ii) any
              claims for termination pay or damages in lieu of notice of
              termination (unless otherwise specifically provided for in any
              written employment or consulting agreement entered into by the
              Vendor and the Corporation), (iii) any claims for accrued and
              unpaid salary, expenses, pension or other employee benefits,
              (iv) any claims relating to a written contract to which the
              Corporation or any of its officers or directors and the Vendor are
              parties which shall survive the sale of the shares of the
              Corporation held by the Vendor, or (v) any claims which might
              arise out of the transactions of purchase and sale herein
              contemplated (provided, however, that the Vendor, its Principal
              and their nominees shall continue to be entitled to the benefit of
              Sections 4.3, 4.4 and 4.5 hereof, notwithstanding such sale of
              shares);

       (e)    either provide the Purchaser with evidence reasonably satisfactory
              to the Purchaser that the Vendor is not then a "non-resident" of
              Canada within the meaning of the INCOME TAX ACT (Canada) or
              provide the Purchaser with a certificate pursuant to Subsection
              116(2) of the INCOME TAX ACT (Canada) with a certificate limit in
              an amount not less than the purchase price for the Purchased
              Shares; provided that if such evidence or certificate is not
              forthcoming, the Purchaser shall be entitled to make the payment
              of tax required under the INCOME TAX ACT (Canada) and to deduct
              such payment from the purchase price for the Purchased Shares; and

       (f)    if all the shares of the Corporation held by the Vendor are being
              sold, deliver to the other Shareholders, their Principals and
              nominees, if any and the other parties hereto (other than the
              Corporation) (collectively, the "Releasees") a release which shall
              be executed and delivered by the Vendor and its Principal, and
              each of his nominees, if any (collectively, the "Releasors") in
              his capacity as a director, officer and shareholder of the
              Corporation in respect of all of his claims against

<PAGE>
                                     - 79 -

              each Releasee in their capacity as a shareholder, director or
              officer of the Corporation, which the Releasors knew or
              reasonably ought to have known in their capacities as
              aforesaid, except for any claims which might arise out of the
              transaction of purchase and sale herein contemplated or any
              claims concerning indebtedness or obligations owing to the
              Vendor or its Principal or nominees pursuant to this Agreement
              (including Section 16.4).

16.4          INDEMNITIES.

              If all the shares of the Corporation held by the Vendor are being
sold and, at the Time of Closing, the Vendor, or any person for or on behalf of
the Vendor (inclusive of its Principals and nominees), shall have any
guarantees, securities or covenants lodged with any person to secure any
indebtedness, liability or obligation of the Corporation, and/or the other
Shareholder(s), their Principals and nominees, in connection with the
Corporation then the other Shareholder(s) and the Corporation shall use their
reasonable best efforts to deliver up or cause to be delivered up to the Vendor
or cancel or cause to be cancelled such guarantees, securities and covenants at
the Time of Closing.  If, notwithstanding such reasonable best efforts, the
delivery up or cancellation of any such guarantee, security or covenant is not
obtained, the remaining Shareholder(s) (other than the Management Shareholders,
the Non-Employee Directors and the Employee Shareholders, and the members of
their Immediate Family who are then Shareholders) and the Corporation shall
deliver to the Vendor and, if applicable, to the person who shall have provided
such guarantee, security or covenant, an indemnity in writing, in form
reasonably satisfactory to counsel for the Vendor, indemnifying them against any
and all claims, demands, costs, expenses, damages, liabilities and suits, which
may be or which shall have been paid, suffered or incurred by them with respect
to the said guarantee, security or covenant.

16.5          REPAYMENT OF INDEBTEDNESS BY CORPORATION.

              If all the shares of the Corporation held by the Vendor are being
sold and, at the Time of Closing, the Corporation is indebted to the Vendor in
an amount recorded on the books of the Corporation and verified by the
accountants of the Corporation, the Corporation shall, subject to any rights of
set-off, repay such amount to the Vendor at the Time of Closing.

16.6          REPAYMENT OF INDEBTEDNESS BY VENDOR.

              If all the shares of the Corporation held by the Vendor are being
sold and, at the Time of Closing, the Vendor is indebted to the Corporation in
an amount recorded on the books of the Corporation and verified by the
accountants of the Corporation: (i) if the Corporation is the Purchaser, the
Corporation shall have the right to set-off such amount from the purchase price
for the Purchased Shares and from the amount of the indebtedness, if any, of the
Corporation to the Vendor, provided that if such indebtedness exceeds the
aggregate of the said purchase price for the Purchased Shares and the amount of
the indebtedness of the Corporation to the Vendor, the Vendor shall pay such
excess to the Corporation at the Time of Closing; and (ii) if one or more
Shareholder(s) is the Purchaser, the Vendor shall pay such indebtedness to the
Corporation at the Time of Closing.

<PAGE>
                                     - 80 -

16.7          POWER OF ATTORNEY.

              If, at the Time of Closing, the Vendor fails to complete the
subject transaction of purchase and sale, the Purchaser shall have the right, if
not in default under this Agreement, without prejudice to any other rights which
it may have, upon payment of the purchase price payable to the Vendor at the
Time of Closing (net of such  amounts as may be payable to the Corporation
pursuant to this Article 16, in respect of which the Vendor irrevocably directs
the Purchaser to make payment to the Corporation) to the credit of the Vendor in
the main branch of the Corporation's bankers in the City of Toronto, to execute
and deliver, on behalf of and in the name of the Vendor, such deeds, transfers,
share certificates, resignations or other documents that may be necessary to
complete the subject transaction and the Vendor hereby irrevocably appoints the
Purchaser his attorney in that behalf in accordance with the POWERS OF ATTORNEY
ACT (Ontario).  The parties hereto acknowledge and agree that such power of
attorney is a power coupled with an interest, given for consideration, and
cannot be revoked without the consent of the other parties hereto.

16.8          NO JOINT LIABILITY FOR PURCHASERS.

              For greater certainty, the parties hereto, acknowledge and agree
that, where there is more than one Purchaser, the Purchasers in any transaction
of purchase and sale contemplated in this Agreement are not jointly liable for
the payment of the purchase price for the Purchased Shares and, if applicable,
any indebtedness being purchased hereunder, or for the covenants being given
hereunder to the Vendor (unless they themselves breached or acquiesced in the
breach) but are only liable for their proportionate share of the said purchase
price.

                                     ARTICLE 17
                               RESTRICTIVE COVENANTS

17.1          MANAGEMENT, NON-EMPLOYEE DIRECTORS AND EMPLOYEE SHAREHOLDERS.

       (a)    Each Management Shareholder, Non-Employee Director and Employee
              Shareholder and each Principal thereof shall not, while he or any
              member of his Immediate Family (collectively, the "Departing
              Shareholder") is a Shareholder  of the Corporation or holds shares
              of a Shareholder of the Corporation, as the case may be, directly
              or indirectly, either individually or in partnership or in
              conjunction in any way with any person or persons, whether as
              principal, agent, consultant, shareholder, guarantor, creditor or
              in any other manner whatsoever:

              (i)     solicit, interfere with or endeavour to entice away from
                      the Corporation or its Affiliates, accept any business
                      from or the patronage of or render any service to, sell
                      to or contract or attempt to contract with any person,
                      firm or corporation who was a client, customer or
                      supplier of the Corporation, its Affiliates or Associates
                      or a prospective client, customer or supplier of the
                      Corporation, its Affiliates or Associates with whom the
                      Corporation, its Affiliates or Associates have or have
                      had any dealing during the 12-month period immediately
                      preceding the date upon which the Departing Shareholder
                      ceases to be a Shareholder of the Corporation (to the
                      extent that such business, patronage, service, or
                      contract is competitive with the

<PAGE>
                                     - 80 -

                      Business of the Corporation and its Subsidiaries or any
                      additional businesses from time to time carried on by
                      the Corporation and its Subsidiaries, collectively, a
                      "Competitive Business");

              (ii)    offer employment to or endeavour to entice away from the
                      Corporation or its Subsidiaries or Affiliates, any person
                      employed (or retained as a consultant) by the Corporation
                      or its Subsidiaries or Affiliates at the date of his
                      ceasing to be a Shareholder, or who was so employed or
                      retained at any time during the previous one-year period
                      or interfere in any way with the employment relationship
                      between any such employee (or consultant) and the
                      Corporation, its Affiliates or Subsidiaries; or

              (iii)   engage in, carry on or otherwise be concerned with or
                      have any interest in, or advise, lend money to, guarantee
                      the debts or obligations of, permit his name, or any part
                      thereof, to be used or employed by any person, firm,
                      association, syndicate or corporation engaged in or
                      concerned with or having any interest in a business (in
                      any form) competitive to the Business carried on in any
                      country where the Corporation and its Affiliates or
                      Subsidiaries have sold or licensed products or services
                      during the 12-month period immediately preceding the
                      Departing Shareholder ceasing to be a Shareholder of the
                      Corporation.

       (b)    The Shareholders have or will have specific knowledge of the
              affairs of the Corporation, its Affiliates and Subsidiaries and
              their business.  Therefore, the Shareholders hereby acknowledge
              and agree that all covenants, provisions and restrictions
              contained in this Section 17.1 are reasonable and valid in the
              circumstances of this Agreement, and all defences to the strict
              enforcement thereof by the Corporation (and its Affiliates and
              Subsidiaries, in respect of which the Corporation is contracting
              herein as agent) are hereby waived.

If the provisions of this Section 17.1 are ever adjudicated to exceed the
limitations on time or geographic scope permitted by Applicable Law, then such
provisions shall be deemed reformed to the maximum time or geographic scope
permitted by Applicable Law.  For greater certainty, this Section 17.1 shall not
be applicable to the Founding Shareholder, the Strategic Partners or their
respective Subsidiaries or Affiliates.

17.2          CONFIDENTIAL INFORMATION.

       (a)    The Shareholders and Principals acknowledge that in the course of
              being, or associated with, a Shareholder, the Shareholders will
              have access to and will be entrusted with Confidential
              Information.

       (b)    The Shareholders and Principals acknowledge and agree that the
              Confidential Information is the exclusive property of the
              Corporation and its Affiliates and Subsidiaries.  Except as may be
              required as a Shareholder and subject to Applicable Law, and
              except as permitted hereunder, each Shareholder and Principal
              covenants and agrees that it will not disclose (directly or
              indirectly), any of the Confidential Information to any person,
              other than to its directors, officers,

<PAGE>
                                     - 82 -

              employees, agents or professional advisors that have a need to
              know such information, nor shall the Shareholder or Principal
              use or exploit (directly or indirectly), such information for
              any purpose other than for the benefit of the Corporation, nor
              will it disclose for any purpose other than for the benefit of
              the Corporation the private affairs of the Corporation and its
              Affiliates and Subsidiaries or any other information which it
              may acquire during its tenure as a Shareholder with respect to
              the business and affairs of the Corporation and its Affiliates
              and Subsidiaries.

       (c)    Notwithstanding all of the foregoing, a Shareholder shall be
              entitled to disclose such Confidential Information if such
              disclosure is required pursuant to Applicable Law or pursuant to a
              subpoena, order, recommendation or direction issued by a court,
              arbitrator or any Governmental Authority (including OSFI),
              provided that the Shareholder shall first have:

              (i)     properly notified the Corporation;

              (ii)    consulted with the Corporation, at the Corporation's sole
                      expense, on the advisability of taking steps to resist
                      such requirements; and

              (iii)   if the disclosure is required or deemed advisable,
                      co-operate with the Corporation, at the Corporation's
                      sole expense, in an attempt to obtain an order or other
                      assurance that such information will be accorded
                      confidential treatment.

       (d)    Nothing in this Section 17.2 or in Section 17.3 shall be construed
              as limiting or impairing in any way any of the rights of the
              Corporation and its Affiliates and Subsidiaries whether at law, in
              equity or otherwise against the Shareholder with respect to the
              disclosure, use or exploitation in any manner whatsoever to any
              person or for any purpose, as the case may be, of any of the
              Confidential Information.  Provided that, for greater certainty,
              the Shareholders shall be entitled to consult with their
              professional advisors and agents for purposes of obtaining advice
              with respect to the Corporation or for purposes of performing
              duties to the Corporation provided that the disclosing Shareholder
              directs such professional advisors or agents as the case may be to
              hold such information in confidence and the Shareholder agrees to
              indemnify the Corporation in the event of breach of confidence by
              such persons.

       (e)    For greater certainty, nothing in this Section 17.2 or in Section
              17.3 shall be construed as limiting or impairing in any way any of
              the rights which may have been granted to the Strategic Partners
              by the Corporation from time to time under a license or licenses
              to use the software and operating systems developed by the
              Corporation when such use is in accordance with the terms of such
              license or licenses.

<PAGE>
                                     - 83 -

17.3          NON-SOLICITATION OBLIGATION OF STRATEGIC PARTNERS AND THE FOUNDING
              SHAREHOLDER.

              Each Strategic Partner and the Founding Shareholder covenants and
agrees that, while it is a Shareholder and for the one year period immediately
following it ceasing to be a Shareholder, either directly or indirectly through
Affiliates or Subsidiaries, it shall not, directly or indirectly, either
individually or in partnership or in conjunction in any way with any person or
persons, whether as principal, agent, consultant, shareholder, guarantor,
creditor or in any other manner whatsoever offer employment to or endeavour to
entice away from the Corporation or its Subsidiaries or Affiliates, any person
employed (or retained as a consultant) by the Corporation or its Subsidiaries or
Affiliates as at the date of such Strategic Partner or Founding Shareholder
ceasing to be a Shareholder, or who was so employed or retained at any time
during the previous one-year period or interfere in any way with the
relationship between any such employee (or consultant) and the Corporation, its
Affiliates or Subsidiaries.  Provided, however, that the provisions of this
Section 17.3 shall not apply to newspaper and other generally available or
disseminated recruiting activities conducted by a Strategic Partner or the
Founding Shareholder; provided that they do not expressly address or direct any
such recruiting activities at the employees or consultants of the Corporation
(or of the Subsidiaries or Affiliates thereof).  The Strategic Partners and the
Founding Shareholder have or will have specific knowledge of the affairs of the
Corporation, its Affiliates and Subsidiaries and their business.  Therefore,
such Shareholders hereby acknowledge and agree that all covenants, provisions
and restrictions contained in this Section 17.3 are reasonable and valid in the
circumstances of this Agreement, and all defences to the strict enforcement
thereof by the Corporation (and its Affiliates and Subsidiaries, in respect to
which the Corporation is contracting herein as agent) on the basis that such
covenants, provisions and restrictions are not reasonable or valid or otherwise
against public policy are hereby waived.  Notwithstanding the foregoing, the
parties hereto covenant and agree that the restrictive covenants set forth in
this Section 17.3 apply only to the business group(s) within the affiliated
organization of each Strategic Partner that work directly with the Corporation,
and do not apply generally to any Strategic Partner, its Affiliates and
Subsidiaries and in the case of FTV, shall apply only to FTV and shall not apply
to its unitholders or to any entity in which FTV holds an equity investment.

17.4          ACKNOWLEDGEMENT OF REASONABLENESS.

              The covenants in Sections 17.1, 17.2 and 17.3 are given by the
Shareholder and Principal acknowledging that the Corporation and its Affiliates
and Subsidiaries carry on, or will carry on, business initially throughout North
America, that he will have significant responsibilities in connection with the
Corporation and its Business and affairs, and that he either has or will have
specific knowledge of the private affairs and business of the Corporation and
its Affiliates and Subsidiaries.  Therefore, the parties hereby agree that all
restrictions contained in Sections 17.1, 17.2 and 17.3 are reasonable, necessary
and fundamental to the protection of the Corporation, its Affiliates and
Subsidiaries and their businesses and that a breach by the Shareholder would
result in immediate and irreparable damages to the Corporation that could not
adequately be compensated for by monetary award.  Accordingly, it is expressly
agreed by each Shareholder and its respective Principal, if any, that, in
addition to all other remedies available to it, the Corporation shall be
entitled to the immediate remedy of an interim, interlocutory and

<PAGE>
                                     - 84 -

permanent injunction as well as an accounting of all profits arising out of
any breach by the Shareholder or the Principal or nominees thereof.

17.5          SURVIVAL.

              The provisions of this Article 17 shall survive the termination of
this Agreement.

                                     ARTICLE 18
                                     GUARANTEE

18.1          GUARANTEE OF PRINCIPAL.

              Each Principal hereby unconditionally guarantees that the
Shareholder of which he is the Principal will duly and punctually observe and
perform all of the covenants and obligations on its part to be observed and
performed pursuant to the provisions of this Agreement or pursuant to any
instrument or agreement delivered pursuant to or contemplated by this Agreement
and hereby undertakes and agrees to indemnify and save harmless the Corporation
and the other Shareholders and Principals from and against all liability, harm,
loss, costs, charges, damages and expenses of any nature whatsoever (including
legal fees on a solicitor and client basis) occasioned by any act or default of
the Shareholder of which he is the Principal contrary to such covenants and
obligations or which may be incurred, suffered or sustained by reason of any
failure to observe and perform all or any of such covenants and obligations.

18.2          NATURE OF GUARANTEE.

              This guarantee shall be continuing, unconditional and
irrevocable and a fresh cause of action shall be deemed to arise in respect
of each such default.  Without limiting the generality of the foregoing, the
obligations of each Principal hereunder shall not be released, discharged,
impaired or in any way affected by any extensions of time, indulgences or
modifications granted by any party in favour of another, to enforce any of
the terms or provisions of this Agreement (or by any amendment of the terms
of this Agreement) or by the bankruptcy, insolvency, dissolution,
amalgamation, winding-up or reorganization of the Corporation, or the
Shareholder of which he is the Principal or by any other act or proceeding in
relation to the Corporation, the Shareholder of which he is the Principal or
this Agreement whereby the Principal might otherwise be released or
exonerated, and each Principal hereby waives any right to require the
Shareholders and Principals to exercise or exhaust any action or recourse
against any other party before requiring performance by such Principal
pursuant to this guarantee.

18.3          GRANT OF EXTENSIONS, ETC.

              The other parties hereto may grant extensions of time or other
indulgences, take and give up securities, accept compositions, grant releases
and discharges and otherwise deal with the Shareholder of which the Principal
is the Principal as they may see fit and may apply all monies received from
such Shareholder or others, or from securities, upon such part of the
Shareholder's liability as they may think best, without prejudice to or in
any way limiting or lessening the liability of the Principal in question
under this guarantee.

<PAGE>

                                     -85-

18.4          NOT BOUND TO EXHAUST RECOURSES.

              The other parties hereto shall not be bound to exhaust their
recourses against the Shareholder of which the Principal is the Principal or
the securities they may hold or to value such securities before requiring
payment or performance from the Principal in question.

                                  ARTICLE 19
                         GENERAL CONTRACT PROVISIONS

19.1          SHARE CERTIFICATE LEGEND.

              All share certificates of the Corporation shall have the
following legend endorsed thereon forthwith after the execution of this
Agreement and from time to time thereafter:

              "The transfer of Common Shares represented by this
              certificate is subject to a unanimous shareholders'
              agreement dated  October 26, 1999, as amended,
              supplemented, restated, replaced or otherwise modified from
              time to time, made between 724 Solutions Inc. and all of
              its shareholders."

19.2          NOTICES.

              All notices, requests, demands or other communications
(collectively, "Notices") by the terms hereof required or permitted to be
given by one party to any other party, or to any other person shall be given
in writing by personal delivery or by registered mail, postage prepaid, or by
facsimile transmission to such other party as follows:

       (a)    to the Founding Shareholder at:

                      c/o Blue Sky Capital Corporation
                      4101 Yonge Street
                      Suite 702
                      Toronto, Ontario
                      M2P 1N6

                      Attention:   Greg Wolfond

                      Telecopier:  (416) 226-4456

<PAGE>

                                     - 86 -

       (b)    to BMO at:

                      Bank of Montreal
                      55 Bloor Street West, 3rd Floor
                      Toronto, Ontario
                      M4W 3N5

                      Attention:   Lloyd Darlington
                                   Chief Technology Officer

                      Telecopier:  (416) 927-2594

              with a copy to:

                      Bank of Montreal
                      Law Department
                      21st Floor
                      First Canadian Place
                      Toronto, Ontario
                      M5X 1A1

                      Attention:   Vice-President, Law

                      Telecopier:  (416) 867-7191

       (c)    to Bank of America at:

                      Bank of America
                      Interactive Banking Division Administration #10308
                      425 First Street
                      San Francisco, CA 94105

                      Attention:   Michael A. Devico, Executive Vice President

                      Telecopier:  (415) 278-7888

<PAGE>

                                     -87-

              with a copy to:

                      Bank of America
                      Office of the General Counsel
                      Bank of America Corporate Center
                      100 North Tryon Street
                      NC1-007-56-11
                      Charlotte, North Carolina
                      28255

                      Attention:   Gerald P. Hurst, Associate General Counsel

                      Telecopier:  (704) 386-6453

       (d)    to CSTC and Citicorp at:

                      Citicorp Strategic Technology Corporation
                      c/o Citicorp
                      909 Third Avenue
                      15th Floor
                      New York, N.Y.
                      10043  U.S.A.

                      Attention:   William Carson and Alan Young

                      Telecopier:  (212) 559-5250 and
                                   (212) 793-3051

              with a copy to:

                      Citigroup Inc.
                      Corporate Law Department
                      425 Park Avenue
                      New York, N.Y.
                      10043  U.S.A.

                      Attention:   Stephen Dietz and Anita Romero

                      Telecopier:  (212) 793-7600

<PAGE>

                                     -88-

       (e)    to Sonera at:

                      Sonera Corporation
                      P. O. Box 106, FIN-00051 Sonera
                      Teollisuuskatu 15
                      FIN-00510
                      Helsinki, Finland

                      Attention:   Paul Gardner

                      Telecopier:  +358 (0) 2040 64661

       (f)    to WFC at:

                      444 Market Street
                      San Francisco, CA
                      17th Floor
                      San Francisco, CA
                      U.S.A. 94111

                      Attention:   George Fehlhaber

                      Telecopier:  (415) 975-7861

       (g)    with a copy to WFC at:

                      633 Folsom Street
                      San Francisco, CA
                      7th Floor
                      San Francisco, CA
                      U.S.A. 94107

                      Attention:   Robert White

                      Telecopier:  (415) 975-7861

       (h)    to FTV at:

                      Financial Technology Ventures, L.P.
                      Financial Technology Ventures (Q), L.P.
                      601 California Street
                      22nd Floor
                      San Francisco, California
                      U.S.A.  94108

                      Attention:   Richard Garman

                      Telecopier:  (415) 229-3005

<PAGE>

                                     -89-

       (i)    to HSBC at:

                      HSBC Investment Bank plc
                      Vinters Place
                      68 Upper Thames Street
                      London, England
                      EC4V 3BJ

                      Attention:   Tim Pennington

                      Telecopier:  011 44 20 7 336 3344

              with a copy to:

                      HSBC Securities (Canada) Inc.
                      Box 67, Suite 5300
                      Toronto Dominion Centre
                      Toronto Dominion Bank Tower
                      Toronto, Ontario
                      M5K 1E7

                      Attention:   Craig Cook

                      Telecopier:  (416) 369-9498

       (j)    to the Management Shareholders: at their respective addresses
              listed in the records of the Corporation;

       (k)    to the Non-Employee Directors: at their respective addresses
              listed in the records of the Corporation;

       (l)    to the Employee Shareholders: at their respective addresses
              listed the records of the Corporation;

       (m)    to the Corporation at:

                      724 Solutions Inc.
                      4101 Yonge Street
                      Suite 702
                      Toronto, Ontario
                      M2P 1N6

                      Attention:   Christopher Erickson, President

                      Telecopier:  (416) 226-4456

              with a copy to:

<PAGE>

                                     -90-

                      Goodman Phillips & Vineberg
                      250 Yonge Street
                      Suite 2400
                      Toronto, Ontario
                      M5B 2M6

                      Attention:   Brian Ludmer

                      Telecopier:  (416) 979-1234

or at such other address as may be given by such person to the other parties
hereto in writing from time to time.  If any party bound hereby or any
Permitted Transferee of shares hereunder shall not have given the parties
hereto notice setting forth an address for the giving of Notices, the Notice
for such person shall be deemed to have been properly given if given in
accordance with the terms hereof as if given to the transferor(s) of such
shares.

              All such Notices shall be deemed to have been received when
delivered or transmitted (or, if not delivered or transmitted during regular
business hours in Toronto on a business day, then on the next succeeding
business day) or, if mailed, 72 hours after 12:01 a.m. on the day following
the day of the mailing thereof.  If any Notice shall have been mailed and if
regular mail service shall be interrupted by strikes or other irregularities,
such Notice shall be deemed to have been received 72 hours after 12:01 a.m.
on the day following the resumption of normal mail service, provided that
during the period that regular mail service shall be interrupted, all Notices
shall be given by personal delivery or by facsimile transmission.

19.3          DEEMED ADEQUATE NOTICE.

       (a)    Notwithstanding anything to the contrary contained in this
              Agreement, any Notice to be given by one or more members of the
              Founding Shareholder to the other Shareholders or the
              Corporation shall be deemed to be properly given and binding if
              the Notice is given on behalf of the members of the Founding
              Shareholder by a duly appointed representative of the Founding
              Shareholder.  For greater certainty, it is acknowledged by all
              parties to this Agreement that this mechanism is to facilitate
              the giving of Notices and the members of the Founding
              Shareholder are not jointly and severally liable for any
              obligations incurred by other members of the Founding
              Shareholder unless expressly provided by this Agreement.

       (b)    Notwithstanding anything to the contrary contained in this
              Agreement, any notice to be delivered to or consent to be
              provided by the Employee Shareholders shall be satisfied by
              delivery of notice to the Designated Representative (as
              contemplated by the Stock Option Plan) or by the attaining of
              the appropriate approval or consent or election from the
              Designated Representative on behalf of such Employee
              Shareholders (subject to the provisions of Section 4.7 hereof).

19.4          FURTHER ACTS.

              The parties shall sign such further and other documents, cause
such meetings to be held, resolutions passed and by-laws enacted, exercise their
vote and influence, do and

<PAGE>

                                     -91-

perform and cause to be done and performed such further and other acts and
things as may be necessary or desirable in order to give full effect to this
Agreement and every part hereof.

19.5          TIME.

              Time shall be of the essence of this Agreement and of every
part hereof and no extension or variation of this Agreement shall operate as
a waiver of this provision.

19.6          ENTIRE AGREEMENT.

              This Agreement constitutes the entire agreement between the
parties with respect to all of the matters herein, amending and restating the
October 19, 1999 Unanimous Shareholders' Agreement, and its execution has not
been induced by, nor do any of the parties rely upon or regard as material,
any representations or writings whatever not incorporated herein and made a
part hereof and may not be amended or modified in any respect except as
contemplated by Section 1.13 hereof or otherwise with the written consent of
the parties hereto.  The Schedules referred to herein are incorporated herein
by reference and form part of this Agreement.

19.7          COUNTERPARTS.

              This Agreement may be signed in counterparts (and sent by fax)
and each of such counterparts shall constitute an original document and such
counterparts, taken together, shall constitute one and the same instrument
and, notwithstanding their respective dates of execution, shall be deemed to
be executed as of October 26, 1999.

<PAGE>

19.8          ENUREMENT.

              This Agreement shall enure to the benefit of and be binding
upon the parties and their respective heirs, executors, administrators,
successors, legal representatives and permitted assigns.

19.9          LANGUAGE.

              The parties hereto have required that this Agreement and all
documents and notices related thereto and/or resulting therefrom be drawn up
in English. Les parties aux presentes ont exige que la presente convention
ainsi que tous les documents et avis qui s'y rattachent et/ou qui en
decouleront soient rediges en langue anglaise.

DATED as of the 26th day of October, 1999.

724 SOLUTIONS INC.

PER:         /s/ Gregory Wolfand
       -----------------------------

BLUE SKY CAPITAL CORPORATION             119079 ONTARIO INC.

PER:        /s/ Gregory Wolfand          PER:      /s/ Gregory Wolfand
       ------------------------------           --------------------------

PER:   ______________________________    PER:   __________________________

BANK OF MONTREAL                         BANK OF AMERICA CORPORATION

PER:  [illegible]                        PER:   [illegible]
      ------------------------------            --------------------------

                                         PER:   __________________________

CITICORP STRATEGIC                       CITICORP
TECHNOLOGY CORPORATION

PER:  /s/ William F. Carson              PER:   /s/ William F. Carson
      ------------------------------            --------------------------
          William F. Carson                         William F. Carson

PER:   ______________________________    PER:   __________________________

<PAGE>

 SONERA CORPORATION                      WFC HOLDINGS CORPORATION

 PER:         [illegible]                PER:          [illegible]
        ------------------------------          ---------------------------
                                         NAME:
                                         TITLE:
 PER:   _____________________________

 FINANCIAL TECHNOLOGY                    FINANCIAL TECHNOLOGY VENTURES, L.P.,
 VENTURES (Q), L.P.,                     A DELAWARE LIMITED PARTNERSHIP
 A DELAWARE LIMITED PARTNERSHIP

 BY:                                     BY:

 FINANCIAL TECHNOLOGY                    FINANCIAL TECHNOLOGY
 MANAGEMENT, L.L.C.,                     MANAGEMENT, L.L.C.,
 A DELAWARE LIMITED LIABILITY COMPANY    A DELAWARE LIMITED LIABILITY COMPANY

 BY:    /s/ ROBERT HURET                 BY:    /s/  ROBERT HURET
        ------------------------------          -----------------------------
 NAME:  ROBERT HURET                     NAME:  ROBERT HURET
 TITLE: MANAGING MEMBER                  TITLE: MANAGING MEMBER

 HSBC INVESTMENT BANK PLC.

 PER:          [illegible]
       -------------------------------

 PER:  _______________________________

<PAGE>

                                 SCHEDULE "1.1(f)"
                             DEFINITION OF ARM'S LENGTH

1.     ARM'S LENGTH - For the purposes of this Agreement:

       (a)    "related persons" (as defined below) shall be deemed NOT to deal
              with each other at arm's length; and

       (b)    it is a question of fact whether persons not related to each other
              were at a particular time dealing with each other at arm's length.

2.     DEFINITION OF "RELATED PERSONS" - For the purpose of this Schedule,
       "related persons", or persons related to each other, are

       (a)    individuals connected by blood relationship, marriage or adoption;

       (b)    a corporation and

              (i)     a person who controls the corporation, if it is
                      "controlled" (as defined below) by one person,

              (ii)    a person who is a member of "related group" (as defined
                      below) that controls the corporation, or

              (iii)   any person related to a person described in
                      subparagraph (i) or (ii), and

       (c)    any two corporations

              (i)     if they are controlled by the same person or group of
                      persons,

              (ii)    if each of the corporations is controlled by one person
                      and the person who controls one of the corporations is
                      related to the person who controls the other corporation,

              (iii)   if one of the corporations is controlled by one person
                      and that person is related to any member of a related
                      group that controls the other corporation,

              (iv)    if one of the corporations is controlled by one person
                      and that person is related to each member of an unrelated
                      group that controls the other corporation,

              (v)     if any member of a related group that controls one of the
                      corporations is related to each member of an unrelated
                      group that controls the other corporation, or

       (d)    if each member of an unrelated group that controls one of the
              corporations is related to at least one member of an unrelated
              group that controls the other corporation.

<PAGE>
                                     - 2 -

3.     CORPORATIONS RELATED THROUGH A THIRD CORPORATION - Where two corporations
       are related to the same corporation, be deemed to be related to each
       other

4.     RELATION WHERE AMALGAMATION OR MERGER - Where there has been an
       amalgamation or merger of two or more corporations and the new
       corporation formed as a result of the amalgamation or merger and any
       predecessor corporation would have been related immediately before the
       amalgamation or merger if the new corporation were in existence at that
       time, and if the persons who were the shareholders of the new corporation
       immediately after the amalgamation or merger were the shareholders of the
       new corporation at that time, the new corporation and any such
       predecessor corporation shall be deemed to have been related persons.

5.     AMALGAMATION OF RELATED CORPORATIONS - Where there has been an
       amalgamation or merger of 2 or more corporations each of which was
       related (otherwise than because of a right referred to in
       paragraph (5)(b)) to each other immediately before the amalgamation or
       merger, the new corporation formed as a result of the amalgamation or
       merger and each of the predecessor corporation is deemed to have been
       related to each other.

6.     DEFINITIONS CONCERNING GROUPS - In this Schedule,

       "RELATED GROUP" means a group of persons each member of which is related
       to every other member of the group;

       "UNRELATED GROUP" means a group of persons that is not a related group.

7.     CONTROL BY RELATED GROUPS, OPTIONS, ETC. - For the purposes of this
       Schedule,

       (a)    where a related group is in a position to control a corporation,
              it shall be deemed to be a related group that controls the
              corporation, whether or not it is part of a larger group by which
              the corporation is in fact controlled;

       (b)    where at any time a person has a right under a contract, in equity
              or otherwise, either immediately or in the future and either
              absolutely or contingently:

              (i)     to, or to acquire, shares of the capital stock of a
                      corporation or to control the voting rights of such
                      shares, the person shall, except where the right is not
                      exercisable at that time because the exercise thereof is
                      contingent on the death, bankruptcy or permanent
                      disability of an individual, be deemed to have the same
                      position in relation to the control of the corporation as
                      if the person owned the shares at that time,

              (ii)    to cause a corporation to redeem, acquire or cancel any
                      shares of its  capital stock owned by other shareholders
                      of the corporation, the person shall, except where the
                      right is not exercisable at that time because the
                      exercise thereof is contingent on the death, bankruptcy
                      or permanent disability of an individual, be deemed to
                      have the same position in relation to the control of the
                      corporation as if the shares were so redeemed, acquired
                      or cancelled by the corporation at that time,

<PAGE>
                                     - 3 -

              (iii)   to, or to acquire or control, voting rights in respect of
                      shares of the capital stock of a corporation, the person
                      is, except where the right is not exercisable at that
                      time because its exercise is contingent on the death,
                      bankruptcy or permanent disability of an individual,
                      deemed to have the same position in relation to the
                      control of the corporation as if the person could
                      exercise the voting rights at that time, or

              (iv)    to cause the reduction of voting rights in respect of
                      shares owned by other shareholders, of the capital stock
                      of a corporation, the person is, except where the right
                      is not exercisable at that time because its exercise is
                      contingent on the death, bankruptcy or permanent
                      disability of an individual, deemed to have the same
                      position in relation to the control of the corporation as
                      if the voting rights were so reduced at that time; and

       (c)    where a person owns shares in two or more corporations, the person
              shall as shareholder of one of the corporations be deemed to be
              related to himself, herself or itself as shareholder of each of
              the other corporations.

8.     BLOOD RELATIONSHIP, ETC. - For the purposes of this Schedule, persons are
       connected by

       (a)    blood relationship if one is the child or other descendant of the
              other or one is the brother or sister of the other;

       (b)    marriage if one is married to the other or to a person who is so
              connected by blood relationship to the other; and

       (c)    adoption if one has been adopted, either legally or in fact, as
              the child of the other or as the child of a person who is so
              connected by blood relationship (otherwise than as a brother or
              sister) to the other.

9.     EXTENDED MEANING OF "CHILD" - In this Schedule, words referring to a
       child of a person include:

       (a)    a person of whom the individual is the natural parent, whether the
              person was born within or outside marriage;

       (b)    a person who is wholly dependent on the individual for support and
              of whom the individual has, or immediately before the person
              attained the age of 19 years had, in law or in fact, the custody
              and control;

       (c)    a child of the individual's spouse;

       (d)    an adopted child of the individual; and

       (e)    a spouse of a child of the individual.

<PAGE>
                                     - 4 -

10.    RELATIONSHIPS - In this Schedule, words referring to

       (a)    a parent of an individual include a person

              (i)     whose child the individual is,

              (ii)    whose child the individual had previously been, or

              (iii)   who is a parent of the individual's spouse;

       (b)    a brother of an individual includes a person who is

              (i)     the brother of the individual's spouse, or

              (ii)    the spouse of the individual's sister;

       (c)    a sister of an individual includes a person who is

              (i)     the sister of the individual's spouse, or

              (ii)    the spouse of the individual's brother;

       (d)    a grandparent of an individual includes a person who is

              (i)     the grandfather or grandmother of the individual's
                      spouse, or

              (ii)    the spouse of the individual's grandfather or
                      grandmother;

       (e)    an aunt or great-aunt of an individual includes the spouse of the
              individual's uncle or great-uncle, as the case may be;

       (f)    an uncle or great-uncle of an individual includes the spouse of
              the individual's aunt or great-aunt, as the case may be; and

       (g)    a niece or nephew of an individual includes the niece or nephew,
              as the case may be, of the individual's spouse.

11.    CONTROL IN FACT - For the purposes of this Schedule, where the expression
       "controlled, directly or indirectly in any manner whatever," is used, a
       corporation shall be considered to be so controlled by another
       corporation, person or group of persons (in this Section referred to as
       the "controller") at any time where, at that time, the controller has any
       direct or indirect influence that, if exercised, would result in control
       in fact of the corporation, except that, where the corporation and the
       controller are dealing with each other at arm's length and the influence
       is derived from a franchise, licence, lease, distribution, supply or
       management agreement or other similar agreement or arrangement, the main
       purpose of which is to govern the relationship between the corporation
       and the controller regarding the manner in which a business carried on by
       the corporation is to be conducted, the corporation shall not be
       considered to be controlled,

<PAGE>
                                     - 5 -

       directly or indirectly in any manner whatever, by the controller
       by reason only of that agreement or arrangement.

12.    EXCEPTION TO CONTROL IN FACT - For the purposes of this Schedule, where a
       corporation (in this subsection referred to as the "controlled
       corporation") would, but for this subsection, be regarded as having been
       controlled or controlled, directly or indirectly in any manner whatever,
       by a person  or partnership (in this subsection referred to as the
       "controller") at a particular time and it is established that

       (a)    there was in effect at the particular time an agreement or
              arrangement enforceable according to the terms thereof, under
              which, on the satisfaction of a condition or the happening of an
              event that it is reasonable to expect will be satisfied or happen,
              the controlled corporation will

              (i)     cease to be controlled, or controlled, directly or
                      indirectly in any manner whatever, as the case may be, by
                      the controller, and

              (ii)    be or become controlled, or controlled, directly or
                      indirectly in any manner whatever, as the case may be, by
                      a person or group of persons, with whom or with each of
                      the members of which, as the case may be, the controller
                      was at the particular time dealing at arm's length, and

       (b)    the purpose for which the controlled corporation was at the
              particular time so controlled, or controlled, directly or
              indirectly in any manner whatever, as the case may be, was the
              safeguarding of rights or interests of the controller in respect
              of:

              (i)     any indebtedness owing to the controller the whole or any
                      part of the principal amount of which was outstanding at
                      the particular time, or

              (ii)    any shares of the capital stock of the controlled
                      corporation that were owned by the controller at the
                      particular time and that were, under the agreement or
                      arrangement, to be redeemed by the controlled corporation
                      or purchased by the person or group of persons referred
                      to in subparagraph 12(a)(ii),

              the controlled corporation is deemed not to have been controlled
              by the controller at the particular time.

<PAGE>

                                 SCHEDULE "1.1(gg)"

SERIAL NO: W-1                                              WARRANT TO PURCHASE
                                                          333,334 COMMON SHARES

                   WARRANT TO PURCHASE 333,334 COMMON SHARES OF
                              724 SOLUTIONS INC.
                       AT U.S. $15.00 PER COMMON SHARE

     THIS IS TO CERTIFY THAT, for value received, HSBC Investment Bank plc.
(the "Holder") is entitled to purchase from 724 Solutions Inc., a corporation
amalgamated under the laws of the Province of Ontario (the "Company"), at any
time or from time to time after the Commencement Date (as defined in the
Terms and Conditions attached hereto) and prior to 4:00 p.m. (Toronto time)
on the Expiry Date (as defined in such Terms and Conditions) at its offices
at 4101 Yonge Street, Suite 702, Toronto, Ontario, Canada, M2P 1N6, 333,334
common shares in the capital of the Company ("Common Shares") at a purchase
price of U.S. $15.00 per Common Share, upon and in accordance with the Terms
and Conditions attached hereto.

     IN WITNESS WHEREOF the Company has caused this Warrant to be executed by
its duly authorized officer in that behalf as of the 26th day of October,
1999.

                                       724 SOLUTIONS INC.
                                       Per:___________________________________
                                           Name: Karen Basian
                                           Title: Chief Financial Officer

NOTE: THIS SHARE PURCHASE WARRANT WILL BE VOID AND OF NO VALUE UNLESS
EXERCISED ON OR BEFORE THE EXPIRY DATE PROVIDED FOR IN PARAGRAPH 3.2 OF THE
TERMS AND CONDITIONS ATTACHED HERETO.

<PAGE>

ARTICLE 1 - TERMS AND CONDITIONS

1.1  EXERCISE OF WARRANT

     Subject to the provisions of Article 3 hereof, to exercise this Warrant
("Warrant"), the Holder shall deliver to the Company at its aforementioned
office:

     (a)  mthis Warrant;

     (b)  a written notice, in substantially the form of the subscription
          notice attached as an exhibit hereto (the "Subscription Notice") of
          the Holder's election to exercise this Warrant in whole;

     (c)  cash, a certified cheque, money order or wire payable to the Company
          in the amount of the purchase price of the Common Shares so purchased;
          and

     (d)  evidence reasonably satisfactory to the Company that the Warrant is
          being exercised by the Holder.

     The Company shall, as soon as practicable and in any event within 14
days thereafter, execute and deliver or cause to be delivered a certificate
representing the aggregate number of Common Shares specified in the
Subscription Notice. The share certificates so delivered shall be issued in
the name of the Holder or its affiliate, subject to the terms and provisions
of that certain amended and restated Shareholders' Agreement dated October
26, 1999 among 724 and its shareholders (the "U.S.A."). Such certificates
shall be deemed to have been issued and the Holder, or other person
designated, shall be deemed for all purposes to have become the holder of
record of the Common Shares as of the date of receipt by the Company of the
Subscription Notice and purchase price thereof. For greater certainty, any
person designated by the Holder to be the holder of record of the Common
Shares issued upon the exercise of rights of the Holder hereunder must be a
Permitted Transferee of the Holder (as such term is defined in the U.S.A.).

1.2  COMMON SHARES PURCHASABLE

     The number of Common Shares purchasable under this Warrant shall be
333,334 Common Shares.

     The Common Shares issued upon the exercise of this Warrant shall, upon
payment in full therefor being made, be validly issued as fully paid and
non-assessable.

1.3  NO PARTIAL EXERCISE

     If the Holder elects to exercise this Warrant, the Holder must exercise
the Warrant in full by electing to purchase not less than 333,334 Common
Shares in accordance with these Terms and Conditions.

1.4  STOCK SPLITS

     In the event of any subdivision, redivision or change of the Common
Shares of the Company into a greater number of Common Shares at any time
while this Warrant is outstanding, the Company shall thereafter deliver, at
the time of purchase of the Common Shares pursuant to the terms of the
Warrant, in lieu of the number of Common Shares in respect of

<PAGE>

                                      - 2 -

which the right to purchase is then being exercised, such greater number of
Common Shares of the Company as would result from said subdivision,
redivision or change had the right of purchase been exercised before such
subdivision, redivision or change.

1.5  STOCK CONSOLIDATIONS

     In the event of any consolidation of the Common Shares of the Company
into a lesser number of Common Shares at any time while this Warrant is
outstanding, the Company shall thereafter deliver and the Holder shall
accept, at the time of purchase of the Common Shares pursuant to the terms of
the Warrant, in lieu of the number of Common Shares in respect of which the
right to purchase is then being exercised, such lesser number of Common
Shares of the Company as would result from such consolidation had the right
of purchase been exercised before such consolidation.

1.6  RECLASSIFICATIONS

     In the event of any reclassification of the Common Shares of the Company
resulting from, but not being limited to, the payment of a stock dividend
other than dividends in the ordinary course, a capital reorganization or
amalgamation of the Company with another corporation, at any time while this
Warrant is outstanding, the Company shall thereafter deliver at the time of
purchase of Common Shares pursuant to the terms of the Warrant the number of
Common Shares of the Company or of the appropriate class or classes resulting
from such reclassification as the Holder would have been entitled to receive
in lieu of the number of Common Shares in respect of which the right of
purchase is then being exercised, such number and class of securities as
would have been issued to the Holder upon such reclassification had the right
of purchase been exercised before such reclassification.

1.7  PRICE ADJUSTMENT

     (a)  If an event occurs which would require an adjustment or
          readjustment as prescribed in sections 1.4 to 1.6 (inclusive)
          hereof, the purchase price per Common Share or per security of
          another class shall be adjusted so that the total purchase price of
          all shares or securities which may be purchased pursuant to this
          Warrant would equal the total purchase price of the Common Shares
          which have been purchased pursuant to this Warrant prior to the
          occurrence of such event.

     (b)  All rights and readjustments prescribed in sections 1.4 to 1.6
          (inclusive) hereof shall be cumulative.

ARTICLE 2 - MISCELLANEOUS PROVISIONS

2.1  TRANSFER

     This Warrant may not be transferred, assigned or a security interest
granted therein. This Warrant may be exercised only by the named Holder on
the face page of the Warrant. Notwithstanding the foregoing, this Warrant may
be transferred to an affiliate of Holder to the extent and in the manner
permitted by the U.S.A.

<PAGE>

                                      - 3 -

2.2  REGULATORY REQUIREMENTS

     If the exercise of, existence of, or any terms or conditions of this
Warrant would conflict with any applicable regulatory requirements pertaining
to any public offering of the Company's securities, (including a refusal of
the United States Securities and Exchange Commission, The Toronto Stock
Exchange or the NASDAQ to permit the timely completion of such public
offering or the listing of such securities) then the Holder agrees to work
with the Company and such regulator in good faith to resolve the concerns
raised, including, as and if required, by amending any terms or conditions of
this Warrant so as to permit such offering or listing to be completed on a
timely basis. Nothing in this section shall require the Holder to amend the
purchase price or the number of Common Shares purchasable under this Warrant.
The Company further agrees to use its best efforts to resolve any such
concerns with such regulator through means other than by amending the terms
or conditions of this Warrant.

ARTICLE 3 - TERM OF THE WARRANT

3.1  COMMENCEMENT OF EXERCISE RIGHTS

     All rights of subscription under this Warrant shall apply only from and,
subject to Section 3.2 hereof, after the date on which a technology license
agreement or a letter of intent with respect thereto has been entered into,
upon mutually acceptable terms, between the Company and the Holder (or its
affiliate) pursuant to which the Holder (or its affiliate) will license, or
agree to license, the Company's banking and brokerage technology
applications. For greater certainty, neither the Company nor HSBC shall be
obligated to compromise its economic or other requirements concerning such
technology license agreement, notwithstanding that this Warrant may be "in
the money".

3.2  EXPIRY OF RIGHTS

     Unless otherwise agreed to in writing by the Company pursuant to section
1.20 of the U.S.A., after 4:00 p.m. (Toronto time) on December 31,
1999 (the "Expiry Date") all rights under this Warrant shall wholly
cease and determine and this Warrant shall be wholly void and of no
value or effect.

ARTICLE 4 - GENERAL CONTRACT PROVISIONS

4.1  ENTIRE AGREEMENT

     This Warrant and the subscription agreement entered into between the
Company and the Holder dated as of the date hereof pursuant to which the
Company issued this Warrant, contains the entire agreement between the Holder
and the Company with respect to the subject matter hereof and supersedes all
prior arrangements or understandings with respect thereto.

4.2  GOVERNING LAW

     This Warrant shall be governed by and construed in accordance with the
laws of the Province of Ontario and the laws of Canada applicable therein.

<PAGE>

                                      - 4 -

4.3  WAIVER AND AMENDMENT

     Subject to the provisions of the U.S.A., any term or provision of this
Warrant may be waived at any time by the party entitled to the benefits
thereof and any term or provision of this Warrant may be amended or
supplemented at any time by agreement of the Holder and the Company, except
that any waiver of any term or condition, or any amendment or supplementation
of this Warrant, must be in writing. A waiver of any breach or failure to
enforce any of the terms or conditions of this Warrant shall not, in any way,
affect or limit or act as a waiver of the parties' rights hereunder at any
time to enforce strict compliance thereafter with any term or condition of
this Warrant.

4.4  FILING OF WARRANT

     A copy of this Warrant shall be filed in the minute book and among the
records of the Company.

4.5  LOSS, DESTRUCTION, ETC. OF WARRANT

     Upon receipt of evidence satisfactory to the Company of loss, theft,
mutilation or destruction of this Warrant and, in the case of any such loss,
theft or destruction, upon delivery of a bond of indemnity in such form and
amount as shall be reasonably satisfactory to the Company or, in the event of
such mutilation, upon surrender and cancellation of the Warrant, the Company
will make and deliver a new Warrant of like tenor in lieu of such lost,
stolen, mutilated or destroyed Warrant.

<PAGE>

                                     EXHIBIT
                               SUBSCRIPTION NOTICE
                              SHARE PURCHASE WARRANT
                                724 SOLUTIONS INC.

     The undersigned holder of a Share Purchase Warrant issued by 724
Solutions Inc. (the "Company") dated as of October 26, 1999 (the "Warrant"),
hereby elects to purchase Common Shares of the Company (the "Purchased Common
Shares") at the subscription price and upon the terms and conditions provided
therein. The undersigned has returned the Warrant to the Company, and has
tendered cash, a certified cheque or a money order in the amount of
US$5,000,000.00 payable to the Company or wired such amount to the Company in
respect of the Purchased Common Shares and hereby instructs the Company to
issue the certificate representing the Common Shares in the name of the
undersigned at the address below.

DATED the ____________ day of ____________________________ 1999.

                                       _______________________________________
                                       (signature of holder)

                                       _______________________________________
                                       Name of Holder (please print)

                                       Address
                                       _______________________________________
                                       _______________________________________
                                       _______________________________________

<PAGE>

                                   SCHEDULE "4.9"

                               ARBITRATION PROCEDURES
                               ----------------------

1.0    DISPUTES COVERED BY THESE RULES.  The disputes to be covered by the
provisions of these Rules of Procedures (the "Rules") are those disputes
referred to in Section 4.9 of the Agreement to which this Schedule "4.9" is
attached and which arise out of or relate to or are in connection with any of
the formation, interpretation, application, operation, and enforcement of the
Agreement.

1.1    EXCLUSIVE JURISDICTION.  Subject to the provisions of Section 1.4
(Governing Law) of the Agreement, it shall be a condition precedent to the
bringing of any legal proceedings with respect to any dispute arising out of,
or relating to, or in connection with, any of the formation, interpretation,
application, operation and enforcement of the Agreement and provided that the
settlement procedures set forth in Section 4.9 of the Agreement has been
pursued, that the settlement procedure provided for in these Rules shall have
been followed and completed.

1.2    APPOINTMENT OF ARBITRATION BOARD

(a)    If any party to the Agreement (a "Party") wishes to have any matter
       under this Agreement arbitrated in accordance with the provisions of
       this Agreement, it shall give notice ("Arbitration Notice") to the
       other Parties specifying particulars of the matter or matters in
       dispute and proposing the name of its nominee.

(b)    Arbitration shall be carried out by an Arbitration Board of three
       persons.  If the Parties agree in writing, the Arbitration Board may be
       composed of a single arbitrator.

(c)    Each side to the dispute being arbitrated in accordance with these
       procedures, shall select an independent arbitrator as selected in
       accordance with paragraph (d), and then each of the two arbitrators
       shall select a third independent arbitrator.  If the two arbitrators
       cannot agree to a mutually acceptable third independent arbitrator,
       who is willing to act, within 15 days of the giving of the Arbitration
       Notice, either Party may request an Ontario court of competent
       jurisdiction to do so.  Any Party may request that such court, before
       making such appointment, consult with the President of the Computer
       Law Association as to the identity of suitable nominees as Arbitration
       Board.

(d)    No member of the Arbitration Board may be a director, officer, an
       employee or shareholder of any Party or of any affiliate or associate of
       such Party or any associate of any such director, officer, employee or
       shareholder or any other person who has a direct financial interest in
       such Party or in any associate or affiliate of such Party or of a
       director, officer, employee, or shareholder of such Party or who has a
       direct financial interest in the matter in dispute.  The terms
       "associate" and "affiliate" shall have the respective meanings ascribed
       to such terms by the BUSINESS CORPORATIONS ACT  (Ontario) on the date
       hereof.

(e)    Subject to Section 1.7, the expenses of the Arbitration Board shall be
       borne equally by the Parties.

<PAGE>

1.3    QUALIFICATIONS OF ARBITRATION BOARD.  The Arbitration Board shall
consist of three individuals, one of which shall have not less than 10 years
experience as a licensed practising corporate or securities lawyer, and one
of which shall have not less than 10 years experience in or with investment
or merchant banking for the computer software industry.  If the Arbitration
Board consists of only one person, as agreed by the Parties, then the sole
arbitrator shall have not less than 10 years experience in or with corporate
or securities law with significant exposure to the computer software industry
during the previous 5 years and must have acted as an arbitrator or mediator
within the previous 5 years.  Without limiting the generality of the
foregoing, the Arbitration Board shall be at arm's length from both Parties
and no member of the Arbitration Board shall be a member of the audit or
legal firm or firms who advise either Party, nor shall he/she be a person who
is otherwise regularly retained by such Parties.

1.4    SUBMISSION OF WRITTEN STATEMENTS

(a)    Within 20 days of the appointment of the Arbitration Board, the Party
       initiating the arbitration (the "Claimant") shall send the other Parties
       (collectively, the "Respondent") a Statement of Claim setting out in
       sufficient detail the facts and any contentions of law on which it
       relies, and the relief that it claims.

(b)    Within 20 days of the receipt of the Statement of Claim, the Respondent
       shall send the Claimant a Statement of Defence stating in sufficient
       detail which of the facts and contentions of law in the Statement of
       Claim it admits or denies, on what grounds, and on what other facts and
       contentions of law he relies.

(c)    Within 20 days of receipt of the Statement of Defence, the Claimant may
       send the Respondent a Statement of Reply.

(d)    All Statements of Claim, Defence and Reply shall be accompanied by
       copies (or, if they are especially voluminous, lists) of all essential
       documents on which the Party concerned relies and which have not
       previously been submitted by any Party, and (where practicable) by any
       relevant samples.

(e)    After submission of all the Statements, the Arbitration Board will give
       directions for the further conduct of the arbitration.

1.5    MEETINGS AND HEARINGS

(a)    The arbitration shall take place in the Municipality of Metropolitan
       Toronto, Ontario or in such other place as the Claimant and the
       Respondent shall agree upon in writing.  The arbitration shall be
       conducted in English unless otherwise agreed by such Parties and the
       Arbitration Board.  Subject to any adjournments which the Arbitration
       Board allows, the final hearing will be continued on successive working
       days until it is concluded.

(b)    All meetings and hearings will be in private unless the Parties
       otherwise agree.

(c)    Any Party may be represented at any meetings or hearings by legal
       counsel.

(d)    Each Party may examine, cross-examine and re-examine all witnesses at
       the arbitration.

<PAGE>

1.6    POWERS OF ARBITRATOR.  By submitting a dispute to settlement under
these Rules, the Parties shall be taken to have conferred on the Arbitration
Board the following jurisdiction and powers, to be exercised by the
Arbitration Board so far as the relevant law allows, and in its absolute and
unfettered discretion, if the Arbitration Board shall judge it to be
expedient for the purpose of ensuring the just, expeditious, economical and
final determination of the dispute.  The Arbitration Board shall have
jurisdiction to:

(a)    determine any question of fact and law;

(b)    determine any question as to its own jurisdiction;

(c)    determine any question of good faith, dishonesty or fraud arising in the
       dispute;

(d)    order any Party to furnish such further details of the Party's case, in
       fact or in law, as it may require;

(e)    proceed notwithstanding the failure or refusal of any Party to comply
       with these Rules or with its orders or directions, or to attend any
       meeting or hearing, but only after giving that Party written notice that
       it intends to do so;

(f)    order the Parties to produce to the Arbitration Board, and to each
       other for inspection, and to supply copies of, any documents in their
       possession or power which it determines to be relevant.
       Notwithstanding the foregoing, the Arbitration Board shall allow
       discovery only to the extent of a single request for production of
       documents; oral depositions or other discovery requests shall not be
       permitted unless the Arbitration Board finds and informs the Parties
       that denial of such requests would be manifestly unjust;

(g)    receive and take into account such written or oral evidence as it shall
       determine to be relevant, whether or not strictly admissible in law;

(h)    hold meetings and hearings (at which the Parties may be represented by
       legal counsel) and consider written and oral evidence and make his/her
       award (including any interim award considered necessary by the
       Arbitration Board, and the final award) in Ontario, and, with the
       concurrence of the Parties thereto, elsewhere; and

(i)    make any other interim or final orders which it considers to be
       appropriate in all the circumstances for any of the above purposes.

In addition, the Arbitration Board shall have such further jurisdiction and
powers as may be allowed to it by the INTERNATIONAL COMMERCIAL ARBITRATIONS ACT
(Ontario), the Agreement, the specific submission referred to herein, the Rules
of the Institute and the arbitral laws of any place in which it holds hearings
or in which witnesses attend, and of any place in which it gives any directions
or makes any orders or any award.

1.7    THE AWARD.  The Arbitration Board shall include in its award an order as
to the payment of the costs of the proceedings and reasonable counsel fees, and,
subject to the discretion of the Arbitration Board, costs will follow success
unless, in the opinion of the Arbitration Board, there

<PAGE>

is a compelling reason to depart from such result.  Any Party ordered to pay
costs may avail itself of any procedure for the taxing of costs, provided,
however, that the Parties specifically agreed that the officer taxing such
costs need not be bound by any statutory scale of costs.

The Arbitration Board will make its decision in writing and, unless the
Parties otherwise agree, the Arbitration Board's reasons will be set out in
the award. The Arbitration Board will send such award to the Parties as soon
as practicable after the conclusion of the proceedings.  The award shall be
final and binding on the Parties and shall not be subject to any appeal or
review procedure whatsoever, provided that the Arbitration Board followed the
Rules in good faith.  The Arbitration Board shall reconsider its findings
once at the request and expense of a Party, but in such event shall limit the
Parties to a single memorandum stating any relevant new evidence, points and
authorities, unless doing so would be manifestly unjust.

1.8    ACCESS TO COURTS FOR ENFORCEMENT AND INTERIM REMEDIES.  The Parties
consent to the award of the Arbitration Board being entered in any Court
having jurisdiction for the purposes of enforcement.  In addition, if it
appears to any Party that the Arbitration Board lacks the power to give
effective interim relief, such Party may apply to any appropriate Court for
such relief.

1.9    CONFIDENTIALITY.  All meetings and hearings of or by the Arbitration
Board shall be in private.  All matters in dispute, all claims, submissions,
evidence and findings, and the award itself (collectively, the "Information")
shall be kept confidential by the Arbitration Board, and no information
regarding any of the foregoing will be released to any third party or
otherwise made public without the written consent of the Parties, except as
otherwise contemplated herein and except for such information which is not
Confidential Information.

<PAGE>

                                   SCHEDULE "6.2"

                    ACKNOWLEDGEMENT OF ASSUMPTION OF OBLIGATIONS
                    --------------------------------------------

TO:           724 Solutions Inc. (the "Corporation")

AND TO:       [LIST OF PERSONS BOUND BY SHAREHOLDERS' AGREEMENT] (the
              "Parties")

RE:           Unanimous Shareholders' Agreement dated as of October 26, 1999
              (the "Shareholders' Agreement") concerning 724 Solutions Inc.
              (the "Corporation")

              WHEREAS pursuant to the terms of the Shareholders' Agreement
there can be no transfer of any of the shares of the Corporation except in
certain circumstances and unless the transferee of such shares first enters
into this Assumption Agreement;

              AND WHEREAS [-] (the "Transferor") proposes to transfer [-]
shares of the Corporation (the "Shares") to [-] (the "Transferee");

              AND WHEREAS the Transferee has agreed to observe and to be
bound by the terms of the Shareholders' Agreement so that the provisions
thereof will govern the rights and obligations among the Parties and the
parties hereto regarding the organization and affairs of the Corporation and
the sale of shares of the Corporation under certain circumstances and the
Transferor has agreed to guarantee the due performance by the Transferee of
all obligations imposed on the Transferor or Transferee pursuant to the
Shareholders' Agreement and to remain liable as principal debtor in respect
of all such obligations;

              NOW THEREFORE for good and valuable consideration, the receipt
and sufficiency of which is hereby irrevocably acknowledged, the undersigned,
intending to be legally bound hereby, hereby covenants and agrees as follows:

1.            The Transferee acknowledges that the foregoing recitals are
true and correct and acknowledges having received and reviewed a copy of the
Shareholders' Agreement.

2.            The Transferee covenants and agrees to be bound by the terms of
the Shareholders' Agreement in the same manner as if the Transferee had been
an original party thereto and to the same extent as the Transferor.

3.            The Transferee hereby represents and warrants that he is
purchasing the Shares as principal, for his own account and not as agent,
trustee or representative for any other person, except as may be disclosed in
Section 5 below.

4.            If the Transferee is a corporation, the Transferee hereby
covenants, represents and warrants as follows:

       (a)    the Transferee is a corporation duly incorporated, validly
              existing and in good standing under the laws of the jurisdiction
              of its incorporation and is qualified to

<PAGE>

              do business and is in good standing in each jurisdiction in
              which it carries on business;

       (b)    the Transferee has all necessary corporate power, authority and
              approval to enter into this Assumption Agreement and to perform
              its obligations hereunder;

       (c)    all necessary corporate action has been taken by the Transferee
              to authorize the execution and delivery of this Assumption
              Agreement and the performance of its obligations hereunder, and
              this Assumption Agreement has been duly executed and delivered
              by the Transferee and constitutes a legal, valid and binding
              obligation of the Transferee enforceable against it in
              accordance with its terms and the terms of the Shareholders'
              Agreement; and

       (d)    neither the execution and delivery of this Assumption Agreement
              by the Transferee, nor the performance of its obligations
              hereunder, will conflict with or result in the violation,
              contravention or breach of, or any default under, any of the
              terms or provisions of the constating documents or by-laws of
              the Transferee or of any agreement, obligation, contract,
              commitment, law or regulation to which the Transferee is a
              party or by which it is bound.

       (e)    (i)     the shares and securities in its capital listed below
                      are the only issued and outstanding shares and
                      securities convertible into shares in its capital, all
                      of which are free and clear of all claims, liens and
                      encumbrances whatsoever (except as permitted by the
                      Shareholders' Agreement):

                      SECURITYHOLDER            NUMBER AND CLASS OF
                                               SHARES OR SECURITIES
                                              CONVERTIBLE INTO SHARES
                      ---------------------   -----------------------
                      -                       -

                     and

              (ii)    no person has any agreement or option or right capable of
                      becoming an agreement for the purchase of any such
                      outstanding shares or securities;

       (f)    the aforementioned shareholders or security holders are,
              [EXCEPT AS INDICATED BELOW], the legal and beneficial owners of
              the number and class of shares and/or securities indicated
              opposite their respective names;

       (g)    no person has any agreement or option or right capable of
              becoming an agreement for the purchase, subscription or
              issuance of any of the unissued shares in its capital or any
              securities convertible into shares in its capital;

<PAGE>

       (h)    [NOT APPLICABLE TO THE FOUNDING SHAREHOLDER, OR THE STRATEGIC
              PARTNERS] the Transferee is not a non-Canadian within the meaning
              of the INVESTMENT CANADA ACT, S.C. 1985, c. 20, as amended; and

       (i)    each of the undersigned who are shareholders or security holders
              of the Transferee acknowledges and agrees that he shall be bound
              by the Shareholders' Agreement as if he had been an original
              signatory thereto.

5.            If the Transferee is a trust, the Transferee hereby represents
and warrants that the current trustees and vested beneficiaries of the
Transferee (the "Trust") are as follows:

       (a)    [-] [LIST OF TRUSTEES AND BENEFICIARIES];

       (b)    annexed hereto is a true copy of the Declaration of Trust
              establishing the Trust and such document has not been amended or
              superseded since the establishment of the Trust [EXCEPT AS
              INDICATED BELOW]; and

       (c)    [NOT APPLICABLE TO THE FOUNDING SHAREHOLDER, OR THE STRATEGIC
              PARTNERS] neither the Transferee nor each of the undersigned
              other than the Transferee is a non-Canadian within the meaning
              of the INVESTMENT CANADA ACT, S.C. 1985, c. 20 as amended.

6.     In consideration of the transfer of the Shares, the Transferee hereby
irrevocably appoints [INSERT NAME OF TRANSFEROR OR, IF SUCH TRANSFEROR WAS NOT
AN ORIGINAL SIGNATORY OF THE SHAREHOLDERS' AGREEMENT, THEN INSERT NAME OF
FORMER HOLDER OF THE SHARES WHO WAS AN ORIGINAL SIGNATORY] (the "Attorney") its
attorney in accordance with the POWERS OF ATTORNEY ACT (Ontario), with full
power of substitution, to do certain acts and execute certain instruments as
hereinafter set out:

       (a)    to represent and vote all of the Shares now or hereafter
              registered in its name on the books of the Corporation on any and
              all matters in respect of which a holder of the Shares shall have
              the right to vote and which may properly come before any annual
              and/or special meetings of shareholders of the Corporation
              including, without limitation, any meetings of the holders of a
              class of shares in the capital of the Corporation, or any
              adjournment of any such meeting, and for that purpose to sign and
              execute proxies or other instruments in its name or on its behalf;
              and

       (b)    in respect of the Shares, to consent in writing in its name and
              on its behalf to all proposed shareholders' resolutions and
              actions or any by-law of the Corporation to be passed by
              consent in writing by the Shareholders of the Corporation,
              whether or not in lieu of a meeting.

Such power of attorney is acknowledged to be a power coupled with an interest,
given for consideration and cannot be revoked without the consent of the
Attorney.  The Transferee further irrevocably undertakes to ratify and confirm
all that the Attorney (or any substitute therefor) may do by virtue of this
power of attorney, provided that the Attorney (or substitute) acts within the
authority hereby conferred.

<PAGE>

7.            All notices, requests, demands or other communications
(collectively, "Notices") by the terms of the Shareholders' Agreement required
or permitted to be given by one party to any other shall be given to the
Transferee in accordance with the terms of the Shareholders' Agreement, at:

              [NAME OF PARTY] at:

              Telecopier Number:

8.            Unless specifically defined herein or unless the context
otherwise requires, terms used herein which are defined in the Shareholders'
Agreement shall have the meanings ascribed to such terms in the Shareholders'
Agreement.

9.            This Agreement shall be governed by and construed in accordance
with the laws of the Province of Ontario and the laws of Canada applicable
therein and shall be binding upon the undersigned and their heirs, executors,
administrators, successors, permitted assigns and legal representatives.  The
undersigned hereby submit to the exclusive jurisdiction of the Courts of the
Province of Ontario in connection with this Acknowledgement, on the terms set
out in Section 1.4 of the Shareholders' Agreement.

              IN WITNESS WHEREOF the undersigned has duly executed this
Assumption Agreement [AS OF] the - day of -, 199-.

 SIGNED, SEALED AND DELIVERED     )  [SIGNATURE OF INDIVIDUAL TRANSFEREE, DULY
                                  )  AUTHORIZED OFFICER OF CORPORATE TRANSFEREE
       in the presence of         )  OR TRUSTEE(S) OF TRANSFEREE TRUST
                                  )
________________________________  )  _________________________________________
 (SIGNATURE OF WITNESS)           )
                                  )
                                  )
                                  )  [SIGNATURES OF SHAREHOLDERS AND SECURITY
                                  )  HOLDERS OF CORPORATE TRANSFEREE
                                  )
                                  )
________________________________  )  _________________________________________
 (NAME OF WITNESS)                )
                                  )  [SEAL REQUIRED DUE TO POWER OF ATTORNEY]
 - PLEASE PRINT)                  )
                                  )
                                  )
                                  )
________________________________  )  _________________________________________
 (ADDRESS OF WITNESS)             )
                                  )

<PAGE>

                                  SCHEDULE "11.4"

                    ACKNOWLEDGEMENT OF ASSUMPTION OF OBLIGATIONS

TO:           724 Solutions Inc. (the "Corporation")

AND TO:       [LIST OF PERSONS BOUND BY SHAREHOLDERS' AGREEMENT] (the "Parties")

RE:           Unanimous Shareholders' Agreement dated as of October 26, 1999
              (the "Shareholders' Agreement") concerning 724 Solutions Inc. (the
              "Corporation")

              WHEREAS pursuant to the terms of the Shareholders' Agreement there
can be no issuance of any securities of the Corporation except in certain
circumstances and unless the person to whom securities are to be issued first
enters into this Assumption Agreement;

              AND WHEREAS the Corporation proposes to issue [-] [SECURITIES] of
the Corporation (the "Securities") to [-] (the "New Shareholder");

              AND WHEREAS the New Shareholder has agreed to observe and to be
bound by the terms of the Shareholders' Agreement so that the provisions thereof
will govern the rights and obligations among the Parties and the parties hereto
regarding the organization and affairs of the Corporation and the sale of
securities of the Corporation under certain circumstances;

              NOW THEREFORE for good and valuable consideration, the receipt and
sufficiency of which is hereby irrevocably acknowledged, the undersigned,
intending to be legally bound hereby, hereby covenants and agrees as follows:

1.            The New Shareholder acknowledges that the foregoing recitals are
true and correct and acknowledges having received and reviewed a copy of the
Shareholders' Agreement.

2.            The New Shareholder covenants and agrees to be bound by the terms
of the Shareholders' Agreement in the same manner as if the New Shareholder had
been an original party thereto.

3.            The New Shareholder hereby represents and warrants that he is
purchasing the Securities as principal, for his own account and not as agent,
trustee or representative for any other person, except as may be disclosed in
section 5 below.

4.            If the New Shareholder is a corporation, and acknowledges that the
other parties to the Shareholders Agreement are and shall be entitled to
continue to rely upon such representations and warranties:

       (a)    the New Shareholder is a corporation duly incorporated, validly
              existing and in good standing under the laws of the jurisdiction
              of its incorporation and is qualified to do business and is in
              good standing in each jurisdiction in which it carries on
              business;

<PAGE>

       (b)    the New Shareholder has all necessary corporate power, authority
              and approval to enter into this Agreement and to perform its
              obligations hereunder;

       (c)    all necessary corporate action has been taken by the New
              Shareholder to authorize the execution and delivery of this
              Assumption Agreement and the performance of its obligations
              hereunder, and this Assumption Agreement has been duly executed
              and delivered by the New Shareholder and constitutes a legal,
              valid and binding obligation of the New Shareholder enforceable
              against it in accordance with its terms and the terms of the
              Shareholders' Agreement; and

       (d)    neither the execution and delivery of this Assumption Agreement by
              the New Shareholder, nor the performance of its obligations
              hereunder, will conflict with or result in the violation,
              contravention or breach of, or any default under, any of the terms
              or provisions of the constating documents or by laws of the New
              Shareholders or of any agreement, obligation, contract,
              commitment, law or regulation to which the New Shareholder is a
              party or by which it is bound.

       (e)    (i)     the shares and securities in its capital listed below are
                      the only issued and outstanding shares and securities
                      convertible into shares in its capital, all of which
                      are free and clear of all claims, liens and
                      encumbrances whatsoever (except as permitted by the
                      Shareholders' Agreement):

                            SECURITYHOLDER      NUMBER AND CLASS OF
                                                     SHARES OR
                                                     SECURITIES
                                                  CONVERTIBLE INTO
                                                       SHARES
                      -----------------------   ---------------------
                          -                     -

                      and

              (ii)    no person has any agreement or option or right capable of
                      becoming an agreement for the purchase of any such
                      outstanding shares or securities;

       (f)    the aforementioned shareholders or securityholders are, [EXCEPT AS
              INDICATED BELOW], the legal and beneficial owners of the number
              and class of shares and/or securities indicated opposite their
              respective names;

       (g)    no person has any agreement or option or right capable of becoming
              an agreement for the purchase, subscription or issuance of any of
              the unissued shares in its capital or any securities convertible
              into shares in its capital;

       (h)    [EXCEPT IN THE CASE OF THE FOUNDING SHAREHOLDER, AND THE STRATEGIC
              PARTNERS] the New Shareholder is not a non-Canadian within the
              meaning of the INVESTMENT CANADA ACT, S.C. 1985, c. 20, as
              amended; and

<PAGE>

       (i)    each of the undersigned who are shareholders or security holders
              of the New Shareholder acknowledges and agrees that he shall be
              bound by the Shareholders' Agreement as if he had been an original
              signatory thereto.

5.            If the New Shareholder is a trust, the New Shareholder hereby
represents and warrants that the current trustees and vested beneficiaries of
the New Shareholder (the "Trust") are as follows:

       (a)    [-] [LIST OF TRUSTEES AND BENEFICIARIES];

       (b)    annexed hereto is a true copy of the Declaration of Trust
              establishing the Trust and such document has not been amended or
              superseded since the establishment of the Trust [EXCEPT AS
              INDICATED BELOW]; and

       (c)    [EXCEPT IN THE CASE OF THE FOUNDING SHAREHOLDER, AND THE STRATEGIC
              PARTNERS] neither the New Shareholder nor each of the undersigned
              other than the New Shareholder is a non-Canadian within the
              meaning of the INVESTMENT CANADA ACT, S.C. 1985, c. 20 as amended.

6.            All notices, requests, demands or other communications
(collectively, "Notices") by the terms of the Shareholders' Agreement required
or permitted to be given by one party to any other shall be given to the New
Shareholder, in accordance with the terms of the Shareholders Agreement, at:

              [NAME OF PARTY] at:

              Telecopier Number:

7.            Unless specifically defined herein or unless the context otherwise
requires, terms used herein which are defined in the Shareholders' Agreement
shall have the meanings ascribed to such terms in the Shareholders' Agreement.

8.     This Agreement shall be governed by and construed in accordance with the
laws of the Province of Ontario and the laws of Canada applicable therein and
shall be binding upon the undersigned and their heirs, executors,
administrators, successors, permitted assigns and legal representatives.  The
undersigned hereby submit to the exclusive jurisdiction of the Courts of the
Province of Ontario in connection with this Acknowledgement, on the terms set
out in Section 1.4 of the Shareholders' Agreement.

<PAGE>

              IN WITNESS WHEREOF the undersigned has duly executed this
Assumption Agreement [AS OF] the [-] day of [-], 199-.

SIGNED, SEALED AND DELIVERED     )  [SIGNATURE OF INDIVIDUAL TRANSFEREE, DULY
      in the presence of         )  AUTHORIZED OFFICER OF CORPORATE
                                 )  TRANSFEREE
                                 )  OR TRUSTEE(S) OF TRANSFEREE TRUST
-------------------------------  )  ------------------------------------------
(SIGNATURE OF WITNESS)           )
                                 )
                                 )
                                 )  [SIGNATURES OF SHAREHOLDERS AND SECURITY
                                 )  HOLDERS OF CORPORATE TRANSFEREE
                                 )
                                 )
                                 )
-------------------------------  )  ------------------------------------------
(NAME OF WITNESS)                )
- PLEASE PRINT)                  )  [SEAL REQUIRED DUE TO POWER OF ATTORNEY]
                                 )
                                 )
                                 )
                                 )
-------------------------------  )
(ADDRESS OF WITNESS)             )
                                 )

<PAGE>

                                  SCHEDULE "13.1"

                                REGISTRATION RIGHTS

1.     DEFINITIONS

              The following capitalised terms, when used in this Schedule, have
the respective meanings set forth below (such definitions to be equally
applicable to both singular and plural forms of the terms defined).  Any upper
case terms not defined in this Schedule have the meanings given to such terms in
the Shareholders' Agreement.

              "CANADIAN SECURITIES LAWS" means the securities laws, regulations
and rules of the provinces of Canada, the policy statements and companion
policies of or administered by the Canadian Securities Regulators, and
discretionary rulings or orders issued by the Canadian Securities Regulators
pursuant to such laws, regulations, rules and policy statements, all as amended
and in effect from time to time.

              "CANADIAN SECURITIES REGULATORS" means the British Columbia
Securities Commission; the Alberta Securities Commission; the Saskatchewan
Securities Commission; the Manitoba Securities Commission; the Ontario
Securities Commission; the Commission des valeurs mobilieres du Quebec; the Nova
Scotia Securities Commission; the Director of Securities, Department of Justice,
Newfoundland; the Office of the Administrator, New Brunswick; the Registrar of
Securities, Prince Edward Island; and any other person performing similar
functions under Canadian Securities Laws.

              "COMPANY REGISTRATION" has the meaning given to such term in
Section 1.1 of the Shareholders' Agreement.

              "DEMAND REGISTRATION" has the meaning given to such term in
Section 1.1 of the Shareholders' Agreement.

              "EXCHANGE ACT" means the U.S. Securities Exchange Act of 1934, as
amended from time to time.

              "INITIATING PARTY(ies)" means the Founding Shareholder (in the
case of a Founding Shareholder Demand Registration) and the Strategic Partners
(in the case of a Strategic Partner Demand Registration).

              "PIGGYBACK REGISTRATION" has the meaning given to such term in
Section 13.2 and includes a reference to the equivalent rights exercisable
pursuant to Section 14.2.

              "REGISTER", "REGISTERED" and "REGISTRATION" means a registration
of Registrable Securities or qualification of a prospectus in respect of the
issuance or sale of Registrable Securities effected by preparing and filing a
Registration Statement in compliance with applicable Securities Laws and the
declaration or ordering of the effectiveness of such Registration Statement by
the appropriate Securities Regulators.

<PAGE>
                                     - 2 -

              "REGISTRABLE SECURITIES" means any equity securities of the
Corporation.

              "REGISTRATION EXPENSES" means any and all expenses incidental to a
Demand Registration or a Piggyback Registration, including without limitation:
(i) all registration and filing fees of the Securities Regulators, the National
Association of Securities Dealers, Inc. and other similar persons, (ii) all fees
and expenses incurred in connection with compliance with provincial and state
securities or "blue sky" laws (including reasonable fees and disbursements of
counsel in connection with the "blue sky" qualification of any of the
Registrable Securities), (iii) all expenses incurred by the Corporation in
preparing, printing and distributing any Registration Statement, any prospectus,
any amendments or supplements thereto or other documents incorporated by
reference therein, and other documents relating to the Demand Registration or
Piggyback Registration, (iv) all fees and expenses incurred by the Corporation
in connection with the listing, if any, of the Registrable Securities on any
securities exchange or quotation system, (v) the fees and disbursements of
counsel for the Corporation and of the independent public accountants of the
Corporation, including the expenses of any special audits or "cold comfort"
letters required by or incidental to such performance and compliance, and
(vi) the fees and expenses of one United States and one Canadian counsel to the
Selling Holders; provided that underwriting discounts and selling commissions,
fees and expenses and any transfer taxes in respect of any Selling Holder's
Registrable Securities incurred in connection with any registration and sale of
Registrable Securities shall not be Registration Expenses.

              "REGISTRATION REQUEST" means a written notice to the Corporation
requesting a Demand Registration.

              "REGISTRATION STATEMENTS" means a registration statement of the
Corporation (i) on Form F-1 or any similar long-form registration ("Long-Form
Registrations"); or (ii) on Form F-2, F-3 or F-10 or any similar short-form
registration ("Short-Form Registrations") if the Corporation qualifies to use
such a short form and (unless the context otherwise requires and subject to
subparagraphs (i) to (iii) below) a prospectus of the Corporation prepared in
accordance with the Canadian Securities Laws, and all amendments and supplements
to such document (including post-effective amendments), in each case including
all exhibits thereto and all materials incorporated by reference therein, and
for the purposes of this Agreement: (i) filing a preliminary prospectus prepared
in accordance with the Canadian Securities Laws and obtaining a receipt therefor
from each of the applicable Canadian Securities Regulators shall be deemed to
constitute filing a Registration Statement under the Canadian Securities Laws;
(ii) filing a (final) prospectus prepared in accordance with the Canadian
Securities Laws and obtaining a receipt therefor from each of the applicable
Canadian Securities Regulators shall be deemed to constitute causing a
Registration Statement to be declared effective under the Canadian Securities
Laws; and (iii) amending or supplementing a prospectus to the extent required by
the Canadian Securities Laws during the period in which securities are being
distributed pursuant to such prospectus shall be deemed to constitute
maintaining the effectiveness of a Registration Statement under the Canadian
Securities Laws.

              "SECURITIES ACT" means the UNITED STATES SECURITIES ACT OF 1933,
as amended from time to time.

              "SECURITIES LAWS" means Canadian Securities Laws and/or U.S.
Securities Laws.

<PAGE>
                                     - 3 -

              "SECURITIES REGULATORS" means any Canadian Securities Regulator
and/or U.S. Securities Regulator.

              "SELLING HOLDERS" means each securityholder participating in a
Registration effected pursuant to Article 13 or Article 14 of the Unanimous
Shareholders' Agreement dated as of  October 26, 1999 (the "Shareholders'
Agreement") concerning 724 Solutions Inc. (the "Corporation") such that all or
part of the Registrable Securities owned by the securityholder are included
among the securities offered by the Registration Statement.

              "U.S. SECURITIES LAWS" means the Securities Act, the Exchange Act
and such other securities or blue sky laws of the states of the United States.

              "U.S. SECURITIES REGULATOR" means the United States Securities and
Exchange Commission, and any other person performing similar functions under the
U.S. Securities Laws or under such other securities or blue sky laws of the
states of the United States that are applicable to an offering of Registrable
Securities hereunder.

2.     RULES RELATING TO DEMAND REGISTRATION RIGHTS

              Any request for a Demand Registration shall specify the number of
securities proposed to be sold by the Initiating Party(ies) and the intended
method of disposition thereof (i.e. registration only, "best efforts" or firm
underwriting).  The Corporation shall not be obligated to effect a Demand
Registration in respect of less than such number of equity shares of the
Corporation as is equal to or greater than the lesser of: (I) 1,000,000 shares;
and (II) 25% of the equity shares of the Corporation then held by the Initiating
Party(ies).

              Notwithstanding the initiation of a Demand Registration, if the
Corporation determines, after consultation with the proposed underwriters for
the offering, that the expected gross proceeds in the offering (inclusive of all
shares being sold in the offering by the Corporation and the Shareholders) is
less than $20,000,000 (the "Minimum Threshold"), the Corporation shall not be
obligated to effect such Demand Registration unless the Initiating Party(ies)
agree(s) to sell additional securities (to the extent that it retains any
securities of the Corporation) to make up the deficiency.  For greater
certainty, if the Initiating Party(ies) are proposing to sell all of their
remaining securities of the Corporation, the Minimum Threshold requirement shall
not apply.  In addition, for greater certainty, if a Demand Registration is not
implemented because the Minimum Threshold has not been met, the Initiating
Party(ies) shall be entitled to re-initiate such requested Demand Registration
at a later time in accordance with the provisions of this Schedule "13.1".

              A Demand Registration may not require a shelf registration or a
shelf prospectus.

              Notwithstanding anything to the contrary contained in this
Agreement, the Corporation shall not be obligated to effect a Founding
Shareholder Demand Registration if the Founding Shareholder had the opportunity
to utilize its Piggyback Registration rights within the immediately preceding
six month period and did not at that time exercise such rights by a request to
have included in such Piggyback Registration at least 100,000 equity shares of
the Corporation (it being acknowledged that as a result of the priority
allocation rules contained herein such request might not have been honoured in
full).

<PAGE>
                                  - 4 -

              In addition, the Corporation shall not be obligated to effect
any Demand Registration if: (i) the Corporation has, within the nine month
period immediately preceding the delivery of the Registration Request,
already effected a Demand Registration; or (ii) in any particular
jurisdiction in which the Corporation would be required to qualify generally
to do business or to execute a general consent to service of process in
effecting such Registration, except to the extent required by Applicable Law
of Canada, the United States or a political subdivision thereof in connection
with the particular offering.

              In addition, if the Corporation shall furnish to the Initiating
Party(ies), a certificate signed by the Chief Financial Officer of the
Corporation stating that, in the good faith judgment of the Board of
Directors of the Corporation, it would be seriously detrimental to the
Corporation and its shareholders for such Registration Statement to be filed
and it is therefore essential to defer the filing of such Registration
Statement, the Corporation shall have the right to defer taking action with
respect to such filing for a period of not more than 120 days after receipt
of the Registration Request of the Initiating Party(ies); provided, however,
that the Corporation may utilize this right only once in respect of a
Founding Shareholder Demand Registration and only once in respect of a
Strategic Partner Demand Registration.

              In addition, the Corporation shall not be obligated to effect,
or to take any action to effect, any Demand Registration: (i) during the
period starting with the date 60 days prior to the Corporation's good faith
estimate of the date of filing of, and ending on a date 180 days after the
effective date of, a Company Registration; provided that the Corporation is
actively employing in good faith all reasonable efforts to cause such
Registration Statement to become effective; or (ii) if the Initiating
Party(ies) proposes to dispose of Common Shares or other equity shares that
may be distributed pursuant to a Short-Form Offering pursuant to a request
made pursuant to Section 3 below .

              The Founding Shareholder's Demand Registration rights may be
assigned, subject to the provisions of Section 1.19 hereof and the following
provisions of this Section 2.  Subject to the last sentence of this
paragraph, the Strategic Partner Demand Registration rights are meant to be
exercised, collectively, by all Strategic Partners from time to time and no
interest therein may accrue to the benefit of or be exercised by any Person
other than a Strategic Partner (or its Permitted Transferee).  The Founding
Shareholder's Demand Registration rights may be so assigned, provided: (a)
the Corporation is, within a reasonable time after such transfer, furnished
with written notice of the name and address of such transferee or assignee
and the securities with respect to which such registration rights are being
assigned; and (b) such transferee or assignee agrees in writing to be bound
by and subject to the terms and conditions of this Agreement.  For greater
certainty, the provisions of Section 13.3 shall apply to any such assignee of
the Founding Shareholder Demand Registration rights. After the Initial Public
Offering, any person which acquires from the then existing Strategic Partners
in a particular transaction (or series of related transactions) at least 5%
of the outstanding Common Shares shall be entitled to participate in the
group Strategic Partner Demand Registration rights, the group Short Form
Offering Registration rights and the Piggyback Registration rights
contemplated by Article 14 as if it were a Strategic Partner.

              The Founding Shareholder and the Strategic Partners hereby
agree that, during the period of duration specified by the underwriter(s) of
Common Shares or other securities of the
<PAGE>
                                  - 5 -

Corporation, following the effective date of a Company Registration filed
under applicable Canadian and/or U.S. securities laws, each of them shall
not, to the extent requested by such underwriter(s), directly or indirectly
sell, offer to sell, contract to sell (including, without limitation, any
short sale), grant any option to purchase or otherwise transfer or dispose of
(other than to donees who agree to be similarly bound) any securities of the
Corporation held by it at any time during such period except Common Shares or
other equity shares included in such Registration; provided, however, that:

              (i)     such agreement shall be applicable only to the first two
                      such Underwritten Company Registrations; and

              (ii)    such agreement shall not apply unless the Corporation
                      and, if requested by the underwriter(s), all officers and
                      directors of the Corporation and all other persons with
                      Registration Rights (whether or not pursuant to this
                      Agreement) enter into similar agreements; and

              (iii)   except in connection with the Corporation's Initial
                      Public Offering, such agreement shall not provide for a
                      market stand-off time period which exceeds 180 days.

              In order to enforce the foregoing covenant, the Corporation may
impose stop-transfer instructions with respect to the Common Shares and other
equity shares of the Founding Shareholder and the Strategic Partners until
the end of such period.

3.     FORM S-3, F-3, SHORT-FORM F-10 AND SHORT-FORM PROSPECTUS REGISTRATIONS

              With a view to making available to the Founding Shareholder and
the Strategic Partners acting collectively (each an "S-3 Seller") the
benefits of Rule 144 promulgated under the Securities Act and any other rule
or regulation of the U.S. Securities Regulator that may at any time permit an
S-3 Seller to sell securities of the Corporation to the public without
registration or pursuant to a registration on Form S-3, Form F-3, a
short-form prospectus using Form F-10 or other similar simplified offering
documents under the applicable U.S. Securities Law or the benefits of a
short-form prospectus or similar simplified offering document pursuant to the
National Policy No. 47 "Prompt Offering Prospectus System" applicable under
Canadian Securities Law (collectively, "Short-Form Offerings"), the
Corporation agrees to:

       (a)    make and keep public information available and current, as those
              terms are understood and defined in Rule 144 promulgated under the
              Securities Act, at all times after 90 days after the effective
              date of the first Registration Statement filed by the Corporation
              for the offering of its securities to the general public in the
              United States;

       (b)    take such action, including the voluntary registration of its
              Common Shares and/or other equity shares under Section 12 of the
              Exchange Act, as is necessary to enable the S-3 Sellers to utilise
              Short-Form Offerings for the sale of its Common Shares or other
              equity shares, such action to be taken as soon as practicable
              after the end of the fiscal year in which the first Registration
<PAGE>
                                  - 6 -

              Statement filed by the Corporation for the offering of its
              securities to the general public in the United States is declared
              effective;

       (c)    file with the U.S. Securities Regulator in a timely manner all
              reports and other documents required of the Corporation under the
              Securities Act and the Exchange Act;

       (d)    furnish to any S-3 Seller, so long as it owns any Common Shares,
              forthwith upon request: (i) a written statement by the Corporation
              that it has complied with the reporting requirements of Rule 144
              promulgated under the Securities Act (at any time after the day
              which is 90 days after the effective date of the first
              Registration Statement filed by the Corporation in the United
              States), the Securities Act and the Exchange Act (at any time
              after it has become subject to such reporting requirements), or
              that it qualifies as a registrant whose securities may be resold
              pursuant to a Short-Form Offering (at any time after it so
              qualifies); (ii) a copy of the most recent annual or quarterly
              report of the Corporation and such other reports and documents so
              filed by the Corporation pursuant to the Exchange Act; and
              (iii) such other information as may be reasonably requested in
              availing any S-3 Seller of any rule or regulation of the U.S.
              Securities Regulator or U.S. Securities Law which permits the
              selling of any such securities without registration or pursuant to
              such simplified Registration Statements; and

       (e)    file with the Canadian Securities Regulators an initial Annual
              Information Form under the "Prompt Offering Prospectus System" (an
              "AIF") and thereafter file renewal AIF's and all required
              continuous disclosure and other documents required for the
              Corporation to make use of the "Prompt Offering Qualification
              System" as soon as it is otherwise eligible to do so (in which
              case the provisions of this Section 3 shall apply MUTATIS
              MUTANDIS.

              In case the Corporation shall receive from an S-3 Seller a
proper written request or requests that the Corporation effect the
qualification of, or registration for, a Short Form Offering and any related
qualification or compliance with respect to all or a portion of the Common
Shares or other equity shares of the Corporation owned by the proposed S-3
Seller, the Corporation will:

       (a)    promptly give written notice of the proposed registration, and any
              related qualification or compliance, to the Founding Shareholder,
              the Strategic Partners, the Management Shareholders and the
              Non-Employee Directors; and

       (b)    as soon as practicable, effect such qualification or registration
              and all such qualifications and compliance as may be so requested
              and as would permit or facilitate the sale and distribution of all
              or such portion of the proposed S-3 Seller's Common Shares or
              other equity shares as are specified in such request, together
              with all or such portion of the Common Shares or other equity
              shares of any other Shareholder (excluding the Employee
              Shareholders) joining in such request as are specified in a
              written request given within 30 days after receipt of such written
              notice from the Corporation; provided, however, that the
              Corporation
<PAGE>
                                  - 7 -

              shall not be obligated to effect any such registration,
              qualification or compliance, pursuant to this Section 3:
              (1) if a Short Form Offering is not available for such
              offering by the initiating S-3 Seller; (2) if the initiating S-3
              Seller, together with the holders of any other equity securities
              of the Corporation entitled to inclusion in such Registration,
              proposes to sell Common Shares and such other equity securities
              (if any) at an aggregate price to the public (net of any
              underwriters' discounts or commissions) of less than $15,000,000
              (3) if the Corporation shall furnish to the initiating S-3 Seller
              a certificate signed by the Chief Financial Officer of the
              Corporation stating that, in the good faith judgement of the Board
              of Directors of the Corporation, it would be seriously detrimental
              to the Corporation and its Shareholders for such Short-Form
              Offering Registration to be effected at such time, in which event
              the Corporation shall have the right to defer the filing of the
              Short-Form Offering Registration Statement for a period of not
              more than 60 days after receipt of the request of the initiating
              S-3 Seller; provided, however, that the Corporation shall not
              utilize this right more than once in any 12 month period; (4) if
              the Corporation has, within the 180 day period immediately
              preceding the request of the initiating S-3 Seller, caused a
              Registration Statement (for greater certainty including a
              Short-Form Offering) to be made effective; (5) in any particular
              jurisdiction in which the Corporation would be required to qualify
              to do business or to execute a general consent to service of
              process in effecting such registration, qualification or
              compliance except to the extent required by Applicable Law of
              Canada, the United States or a political subdivision thereof in
              connection with the particular offering; or (6) pursuant to a
              shelf registration; or (7):

              (i)     if the request of the S-3 Seller is made at any time
                      after the date which is four years from the Corporation's
                      Initial Public Offering; or

              (ii)    if: (I) such securities have ceased to be "restricted
                      securities" pursuant to Rule 144 promulgated under the
                      Securities Act and have become freely tradable upon the
                      expiration of any otherwise applicable hold period under
                      Canadian securities laws (or any similar provision under
                      applicable securities laws); and (II) an offering of such
                      securities would not be deemed to constitute a
                      "distribution" within the meaning of clause (c) of
                      Subsection 1(1) of the Securities Act (or equivalent
                      provisions of Canadian securities laws); and (III) the
                      S-3 Seller holds less than 5% of the issued and
                      outstanding equity shares of the Corporation at the date
                      of the request.

       (c)    Subject to the foregoing, the Corporation shall file a
              Registration Statement covering the Common Shares and other equity
              securities of the Corporation so requested as soon as practicable
              after receipt of the request of the initiating S-3 Seller.  All
              Registration Expenses incurred in connection with a registration
              requested pursuant to this Section 3, including (without
              limitation) all registration, filing, qualification, printer's and
              accounting fees and the reasonable fees and disbursements of one
              United States and one Canadian counsel for the initiating S-3
              Seller or other selling Shareholder(s) in addition to counsel
              for the
<PAGE>
                                  - 8 -

              Corporation, but excluding any underwriters' discounts or
              commissions associated with such disposition of Common Shares
              and other equity securities, shall be paid by the Corporation.

              The balance of the provisions of this Schedule "13.1" shall
apply, MUTATIS MUTANDIS, to such Short Form Offerings.

4.     PRIORITIES RELATING TO REGISTRATION RIGHTS

       (a)    If a Piggyback Registration is an underwritten primary
              registration on behalf of the Corporation, or if the offering in
              question is the Corporation's Initial Public Offering, and the
              managing underwriter advises the Corporation in writing that, in
              its opinion, the number of Registrable Securities requested to be
              included in such Piggyback Registration exceeds the number which
              can be sold in such offering without adversely affecting the price
              of the Registrable Securities to be sold, then the Corporation
              shall include in such offering: (i) first, the securities the
              Corporation proposes to sell; (ii) second, the Registrable
              Securities requested to be included in such Piggyback Registration
              by the Founding Shareholder, the Strategic Partners, the
              Management Shareholders and the Non-Employee Directors, provided
              that, if the managing underwriter in good faith determines that a
              lower number of Registrable Securities should be included, then
              the Corporation shall be required to include in such Piggyback
              Registration only that lower number of Registrable Securities, and
              the Founding Shareholder, the Strategic Partners, the Management
              Shareholders and the Non-Employee Directors shall participate in
              the Piggyback Registration pro rata based upon the number of
              Registrable Securities requested by them to be included in such
              Piggyback Registration, except to the extent any of them may agree
              to a lower priority; and (iii) third, other securities of the
              Corporation requested to be included in such Piggyback
              Registration.

       (b)    If a Demand Registration is an underwritten offering and the
              managing underwriter advises the Corporation in writing that, in
              its opinion, the number of Registrable Securities requested to be
              included in such Demand Registration exceeds the number which can
              be sold in such offering without adversely affecting the price of
              the Registrable Securities to be sold, then the Corporation shall
              include in such offering: (i) first, the Registrable Securities
              requested to be included in such offering by the Founding
              Shareholder, the Strategic Partners, the Management Shareholders
              and the Non-Employee Directors (whether pursuant to their Demand
              Registration rights or their Piggyback Registration rights),
              provided that, if the managing underwriter in good faith
              determines that a lower number of Registrable Securities should be
              included, then the Corporation shall be required to include in
              such Demand Registration only that lower number of Registrable
              Securities, and the Founding Shareholder, the Strategic Partners,
              the Management Shareholders and the Non-Employee Directors shall
              participate in the Demand Registration pro rata based upon the
              number of Registrable Securities requested by them to be included
              in such Demand Registration, except to the extent any of them may
              agree to a lower priority; (ii) second, the securities the
              Corporation
<PAGE>
                                  - 9 -

              proposes to sell; and (iii) third, other securities of
              the Corporation requested to be included in such Demand
              Registration.

       (c)    If a Piggyback Registration is an underwritten secondary
              registration on behalf of holders of the Corporation's securities
              (other than the Founding Shareholder under Section 13.2 or the
              Strategic Partners under Section 14.2) and the managing
              underwriter advises the Corporation in writing that, in its
              opinion, the number of Registrable Securities requested to be
              included in such offering exceeds the number which can be sold in
              such offering without adversely affecting the price of the
              Registrable Securities to be sold, then the Corporation shall
              include in such offering: (i) first, the securities proposed to be
              sold by the sellers on whose behalf the offering was initiated;
              second, the Registrable Securities requested to be included in
              such offering by the Founding Shareholder, the Strategic Partners,
              the Management Shareholders and the Non-Employee Directors,
              provided that, if the managing underwriter, in good faith,
              determines that a lower number of Registrable Securities should be
              included, then the Corporation shall be required to include in
              such Piggyback Registration only that lower number of Registrable
              Securities, and the Founding Shareholder, the Strategic Partners,
              the Management Shareholders and the Non-Employee Directors shall
              participate in the Piggyback Registration pro rata based upon the
              number of Registrable Securities requested by them to be included
              in such Piggyback Registration, except to the extent any of them
              may agree to a lower priority; (iii) third, the securities the
              Corporation proposes to sell; and (iv) fourth, other securities of
              the Corporation requested to be included in such Piggyback
              Registration.

5.     GENERAL PROVISIONS RELATING TO REGISTRATION RIGHTS

              Each Selling Holder shall furnish the Corporation such information
regarding such Selling Holder and the distribution of its Registrable Securities
as the Corporation may from time to time reasonably request in writing in
connection with the Registration Statement.

              A Selling Holder may only participate in any underwritten
registration hereunder if such Selling Holder: (i) agrees to sell such Selling
Holder's Registrable Securities on the basis provided in any underwriting
arrangements approved by the person or persons entitled hereunder to approve
such arrangements; and (ii) complete and executes all questionnaires, powers of
attorney, indemnities, underwriting agreements, escrow agreements and other
documents reasonably required and which are acceptable to such Selling Holder
acting reasonably and in good faith under the terms of such underwriting
arrangements and consistent with the provisions of this Schedule.

              All Registration Expenses will be borne by the Corporation;
provided, however, that the Corporation shall not be required to pay for any
expenses of any registration or prospectus process initiated pursuant to a
Demand Registration if the registration request is subsequently withdrawn at the
request of the initiating party, in which case, the initiating party shall bear
such expense, unless at the time of such withdrawal the initiating party
indicates that since the date of the registration request, it has learned of a
material adverse change of the condition, business or prospects of the
Corporation from that known to the initiating party at the
<PAGE>
                                  - 10 -

time of the registration request and provided that the initiating party
withdraws the request with reasonable promptness following disclosure by the
Corporation of such material adverse change (whereupon the initiating party
shall not be required to pay any of such expenses and shall retain its rights
with respect to the abandoned Demand Registration).

              If and whenever the Corporation is required to effect the
Registration of any Registrable Securities under the Securities Laws pursuant to
Article 13 or Article 14, the Corporation will, as expeditiously as possible:

       (a)    prepare and file with the Regulatory Authorities the requisite
              Registration Statement to effect such Registration and thereafter
              use its best efforts to cause such Registration Statement to
              become effective;

       (b)    prepare and file with the Regulatory Authorities such amendments
              and supplements to such Registration Statement as may be necessary
              to keep such Registration Statement effective and to comply with
              the provisions of the applicable Securities Laws with respect to
              the disposition of all Registrable Securities offered by such
              Registration Statement until such time as all of such Registrable
              Securities have been disposed of in accordance with the intended
              methods of disposition by the Selling Holders set forth in such
              Registration Statement;

       (c)    furnish to each Selling Holder such number of conformed copies of
              such Registration Statement and of each such amendment and
              supplement thereto (in each case including all exhibits and
              documents incorporated by reference, appropriately legended in the
              case of those exhibits filed on a confidential basis), and, so
              long as the Corporation is required to keep such Registration
              Statement effective pursuant to paragraph (b) above, such number
              of copies of the prospectus contained in such Registration
              Statement (including each preliminary prospectus and any summary
              prospectus) and any other prospectus filed pursuant to the
              applicable Securities Laws, in conformity with the requirements of
              the applicable Securities Laws, and such other documents, as such
              Selling Holder may reasonably request;

       (d)    use its best efforts (x) to register or qualify all Registrable
              Securities offered by such Registration Statement under such other
              securities or blue sky laws of such jurisdiction where an
              exemption is not available and as any Selling Holder shall
              reasonably request, (y) to keep such registration or qualification
              in effect for so long as such Registration Statement remains in
              effect and (z) to take any other action that may be necessary or
              advisable to enable such Selling Holders to consummate the
              disposition in such jurisdictions of the Registrable Securities to
              be sold by such Selling Holders, except that the Corporation shall
              not for any such purpose be required to (i) qualify generally to
              do business as a foreign corporation in any jurisdiction wherein
              it would not, but for the requirements of this paragraph, be
              obligated to be so qualified, (ii) become subject to taxation in
              any jurisdiction where it would not then be so subject or
              (iii) take any action that would subject it to general service of
              process in any such jurisdiction (except to
<PAGE>
                                  - 11 -

              the extent required by the Applicable Laws of a particular
              jurisdiction in connection with the particular offering);

       (e)    use its reasonable best efforts to cause all Registrable
              Securities offered by such Registration Statement to be registered
              with or approved by such other federal, provincial or state
              governmental agencies or authorities as may be necessary in the
              opinion of counsel to the Corporation and counsel to the Selling
              Holders to enable the Selling Holders to consummate the
              disposition of such Registrable Securities;

       (f)    furnish at the effective date of such Registration Statement and
              the date of closing of the sale of the Registrable Securities
              (whether or not such sale is underwritten), to each Selling
              Holder, and each Selling Holder's underwriters, if any, a signed
              counterpart of:

              (i)     an opinion of counsel for the Corporation, dated the
                      effective date of such Registration Statement (or such
                      date of closing, as applicable), and

              (ii)    a "comfort" letter signed by the independent public
                      accountants who have certified the Corporation's
                      financial statements included or incorporated by
                      reference in such Registration Statement,

              covering substantially the same matters with respect to such
              Registration Statement (and the prospectus included therein) and,
              in the case of the accountants' comfort letter, with respect to
              events subsequent to the date of such financial statements, as are
              customarily covered in opinions of issuer's counsel and in
              accountants' comfort letters delivered to the underwriters in
              underwritten public offerings of securities;

       (g)    notify each Selling Holder at any time when a prospectus relating
              to the Registration is required to be delivered under the
              Securities Laws, upon discovery that, or upon the happening of any
              event known to the Corporation as a result of which, the
              prospectus included in such Registration Statement, as then in
              effect, includes an untrue statement of a material fact or omits
              to state any material fact required to be stated therein or
              necessary to make the statements therein not misleading, in the
              light of the circumstances under which they were made, and
              promptly prepare and furnish to each Selling Holder a reasonable
              number of copies of a supplement to or any amendment of such
              prospectus as may be necessary so that, as thereafter delivered to
              the purchasers of such securities, such prospectus shall not
              include an untrue statement of a material fact or omit to state a
              material fact required to be stated therein or necessary to make
              the statements therein not misleading in the light of the
              circumstances under which they were made;

       (h)    otherwise use its reasonable best efforts to comply with all
              applicable rules and regulations of the Securities Laws and, if
              required, make available to its security holders, as soon as
              reasonably practicable, an earnings statement covering the
<PAGE>
                                  - 12 -

              period of at least twelve months, but not more than eighteen
              months, beginning with the first full calendar month after the
              effective date of such Registration Statement, which earnings
              statement shall satisfy the provisions of Securities Laws, and
              promptly furnish to each such Selling Holder a copy of any
              amendment or supplement to such Registration Statement;

       (i)    permit any Selling Holder to participate in the preparation of
              such Registration Statement and to include therein material,
              furnished to the Corporation in writing, which in the reasonable
              judgement of the Selling Holder should be included and which is
              reasonably acceptable to the Corporation;

       (j)    if any proposed Registration Statement refers to a Selling Holder
              by name or otherwise as the holder of any securities of the
              Corporation then: (i) the Corporation shall be required to insert
              therein language, in form and substance reasonably satisfactory to
              such Selling Holder, the Corporation and the managing underwriter,
              to the effect that the ownership by such Selling Holder of such
              securities is not to be construed as a recommendation by such
              Selling Holder as to the investment quality of the Corporation's
              securities offered thereby and that such ownership does not imply
              that such Selling Holder will assist in meeting any future
              financial requirements of the Corporation; or (ii) in the event
              that such reference to such Selling Holder by name or otherwise is
              not required by the applicable Securities Laws, any similar
              federal, provincial or state statute, or any rule or regulation of
              any other regulatory body having jurisdiction over the offering,
              then in force, the Corporation shall be required at the request of
              such Selling Holder to delete the reference to such Selling
              Holder;

       (k)    provide and cause to be maintained a transfer agent and registrar
              for all Registrable Securities offered by such Registration
              Statement from and after a date not later than the Effective Date;
              and

       (l)    use its best efforts to list all Registrable Securities covered by
              such Registration Statement on any securities exchange or trading
              market on which the Corporation's Registrable Securities are then
              listed.

              If requested by the underwriters for any underwritten offering
of Registrable Securities pursuant to a Demand Registration, the Corporation
will use all reasonable efforts to enter into an underwriting agreement with
such underwriters for such Demand Registration, such agreement to be
reasonably satisfactory in substance and form to the Corporation, the Selling
Holders and the underwriters and to contain such representations and
warranties by the Corporation and such other terms as are customary in
agreements of that type, including, without limitation, indemnities to the
effect and to the extent provided in paragraph 6 hereof.  The Selling Holders
will reasonably cooperate with the Corporation in the negotiation of the
underwriting agreement.  Such Selling Holders shall be parties to such
underwriting agreement.  All of the representations and warranties by, and
the other agreements on the part of, the Corporation to and for the benefit
of such underwriters shall also be made to and for the benefit of such
Selling Holders and any or all of the conditions precedent to the obligations
of such underwriters under such underwriting agreement shall also be
conditions precedent to the obligations of such Selling
<PAGE>
                                  - 13 -

Holders.  No Selling Holder shall be required to make any representations or
warranties to or agreements with the Corporation other than representations,
warranties or agreements regarding such Selling Holder, matters pertaining to
the Selling Holder's contractual or other arrangements with the Corporation,
such Selling Holder's Registrable Securities and such Selling Holder's
intended method of distribution or any other representations required by the
applicable Securities Laws.

              If requested by the underwriters for any underwritten offering
of Registrable Securities pursuant to a Piggyback Registration, the Selling
Holders shall be parties to the underwriting agreement between the
Corporation and such underwriters.  All of the representations and warranties
by, and the other agreements on the part of, the Corporation to and for the
benefit of such underwriters shall also be made to and for the benefit of the
Selling Holders, and any or all of the conditions precedent to the
obligations of such underwriters under such underwriting agreement shall also
be conditions precedent to the obligations of the Selling Holders.  No
Selling Holder shall be required to make any representations and warranties
to, or agreements with, the Corporation or such underwriters other than those
representations, warranties or agreements regarding the Selling Holder,
matters pertaining to the Selling Holder's contractual or other arrangements
with the Corporation, the Selling Holder's Securities, the Selling Holder's
intended method of distribution and any other representations required by the
applicable Securities Laws.

              In connection with the preparation and filing of each
Registration Statement under the Securities Laws, the Corporation will give
the Selling Holders, their underwriters, if any, and their respective counsel
the opportunity to participate in the preparation of such Registration
Statement, each prospectus included therein or filed with the Regulatory
Authorities, and each amendment thereof or supplement thereto, and will give
each of them such reasonable access to the books and records of the
Corporation and such opportunities to discuss the business of the Corporation
with its officers and the independent public accountants who have certified
its financial statements as shall be necessary, in the opinion of such
holders, and such underwriters and their respective counsel, to conduct a
reasonable investigation.  The Corporation shall promptly notify such holders
and their counsel of any stop order issued or threatened by the Regulatory
Authorities and take all reasonable actions required to prevent the entry of
such stop order or to remove it if entered.

              If the Corporation becomes subject to the reporting
requirements of a jurisdiction where the Registrable Securities become
qualified, the Corporation will use its best efforts to file with the
applicable Regulatory Authorities such information as the applicable
Regulatory Authorities may require in a timely fashion; and in such event,
the Corporation shall use its best efforts to take all action as may be
required in order to maintain the registration of such Registrable Securities
in good standing and not in default. The Corporation shall furnish to the
Selling Holders forthwith upon request (i) a written statement by the
Corporation as to its compliance with the reporting requirements of
applicable Regulatory Authorities, (ii) a copy of the most recent annual or
quarterly report of the Corporation as filed with the applicable Regulatory
Authorities, and (iii) such other reports and documents as the Selling
Holders may reasonably request in availing themselves of any rule or
regulation of the Regulatory Authorities allowing the Selling Holders to sell
any such Registrable Securities without qualifying a prospectus or completing
a registration.
<PAGE>
                                  - 14 -

6.     INDEMNIFICATION PROVISIONS RELATING TO REGISTRATION RIGHTS

              In connection with any Registration, the Corporation agrees to
indemnify, to the full extent permitted by law, each Selling Holder, each
other person or entity which participates as an underwriter in the offering
or sale of such Registrable Securities and each other person or entity which
controls such Selling Holder or any such underwriter, and their respective
directors, officers, partners, agents and affiliates, against all losses,
claims, damages, liabilities and expenses (including legal fees and
disbursements on a solicitor and client basis) to which such Selling Holder
or underwriter or any such director, officer, partner, agent, affiliate or
controlling person or entity may become subject under applicable law or
otherwise, insofar as such losses, claims, damages or liabilities arise out
of or are based upon any untrue or alleged untrue statement of a material
fact contained in any Registration Statement (or any amendment or supplement
thereto) or any omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein, in
the light of the circumstances under which they were made, not misleading,
except insofar as the same are caused by any untrue statement or alleged
untrue statement or any such omission or alleged omission if (x) such untrue
statement or omission is completely corrected in an amendment or supplement
to such Registration Statement prepared in a timely fashion by the
Corporation and the Corporation has furnished such Selling Holder (or
underwriter, if any) with a sufficient number of copies of the same, the
Selling Holder (or underwriter, if any) having an obligation under the
Securities Laws to deliver a prospectus or prospectus supplement in
connection with such sale of Registrable Securities thereafter fails to
deliver such prospectus or prospectus supplement as so amended or
supplemented prior to or concurrently with the sale of Registrable Securities
to the person asserting such loss, claim, damage or liability, or (y)such
untrue statement or omission is caused by or contained in any information
with respect to any Selling Holder which was furnished in writing to the
Corporation by the Selling Holder expressly for use therein, or caused by the
Selling Holder's failure to deliver (contrary to the requirements of the
applicable Securities Laws or contrary to an undertaking given by the Selling
Holder) to a prospective purchaser a copy of the Registration Statement or
any amendment or supplement thereto.  Such indemnity shall remain in full
force and effect regardless of any investigation made by or on behalf of such
Selling Holder or any such director, officer, partner, employee, agent,
affiliate or controlling person and shall survive the transfer of Registrable
Securities by such Selling Holder (or underwriter, if any).

              In connection with any offering in which the Selling Holders
are participating, each Selling Holder will furnish to the Corporation in
writing such information with respect to it as the Corporation reasonably
requests for use in connection with any such Registration Statement.  Each
Selling Holder agrees to indemnify, to the full extent permitted by law, the
Corporation, its directors and officers and each person who controls the
Corporation (within the meaning of the Securities Laws) and, in connection
with an underwritten offering, each underwriter and each person who controls
the underwriters (within the meaning of the Securities Laws) against any
losses, claims, damages, liabilities and expenses (including attorneys' fees
and disbursements) caused by any untrue or alleged untrue statement of a
material fact contained in any Registration Statement or any omission or
alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading, to the extent, but
only to the extent, that such untrue statement or omission is in conformity
with and contained in any information
<PAGE>
                                  - 15 -

with respect to any Selling Holder so furnished in writing by the Selling
Holder expressly for use therein, provided, however, that (x) the Selling
Holder shall not be liable in any such case to the extent that any such
statement or omission is completely corrected in the final prospectus, in the
case of a preliminary prospectus, or in an amendment or supplement to a
prospectus or prospectus supplement and (y) the liability of such Selling
Holder under this section shall be limited to the amount of proceeds received
by such Selling Holder in the offering giving rise to such liability.  Such
indemnity shall remain in full force and effect, regardless of any
investigation made by or on behalf of the Corporation or any such director,
officer or controlling person and shall survive the transfer of Registrable
Securities by such Selling Holder.

              Any person entitled to indemnification hereunder (the
"Indemnified Party") agrees to give prompt written notice to the indemnifying
party as provided at paragraph 5 hereof (the "Indemnifying Party") after the
receipt by such person of any written notice of the commencement of any
action, suit, proceeding or investigation or threat thereof made in writing
for which such person will claim indemnification or contribution pursuant to
this Agreement (provided, however, that the failure of any Indemnified Party
to give such notice shall not relieve the Indemnifying Party of its
obligations except to the extent that the Indemnifying Party is materially
prejudiced by such failure to give notice) and, unless in the reasonable
judgement of such Indemnified Party a conflict of interest may exist between
such Indemnified Party and the Indemnifying Party with respect to such claim,
permit the Indemnifying Party to assume the defence of such claim with
counsel reasonably satisfactory to such Indemnified Party.  Provided,
however, that if the Indemnifying Party does not inform the Indemnified Party
of its decision to defend the claim within five business days after receipt
of notice of the claim from the Indemnified Party (and as soon as practicable
thereafter the identity of counsel retained for the defence), or thereafter
abandons the defence or fails to pursue the defence in good faith, then the
Indemnified Party (in conjunction with all other Indemnified Parties) may
retain counsel and conduct the defence of the claim in good faith and at the
Indemnifying Party's cost and expense .  In such circumstances the
Indemnifying Party shall be bound by the results obtained by the Indemnified
Party (unless and until the Indemnifying Party shall thereafter request to
participate in the defence of the claim, after which the parties shall
jointly conduct the defence of the claim).  If the Indemnifying Party is not
entitled to, or elects not to, assume the defence of a claim (or thereafter
abandons such defence or does not pursue such defence in good faith), it will
not be obligated to pay the fees and expenses of more than one counsel with
respect to such claim, unless in the reasonable judgement of any Indemnified
Party a conflict of interest may exist between such Indemnified Party and any
other of such Indemnified Parties with respect to such claim, in which event
the Indemnifying Party shall be obligated to pay the fees and expenses of
such additional counsel or counsels.  The Indemnifying Party will not be
subject to any liability for any settlement made without its written consent,
which consent shall not be unreasonably withheld or delayed.

              If the indemnification provided for in this section from an
Indemnifying Party is unavailable to an Indemnified Party hereunder in
respect of any losses, claims, damages, liabilities or expenses referred to
therein, then the Indemnifying Party, in lieu of indemnifying such
Indemnified Party, shall contribute, subject to the same restrictions and
limitations applicable to such indemnification to the amount paid or payable
by such Indemnified Party as a result of such losses, claims, damages,
liabilities or expenses in such proportion as is appropriate to reflect the
relative fault of the Indemnifying Party and Indemnified Party in connection
with
<PAGE>
                                  - 16 -

the actions which resulted in such losses, claims, damages, liabilities or
expenses, as well as any other relevant equitable considerations.  The
relative fault of such Indemnifying Party and Indemnified Party shall be
determined by reference to, among other things, whether any action in
question, including any untrue or alleged untrue statement of a material fact
or omission or alleged omission to state a material fact, has been made by,
or relates to information supplied by, such Indemnifying Party or Indemnified
Party, and the party's' relative intent, knowledge, access to information and
opportunity to correct or prevent such action.

              The amount paid or payable by a party as a result of the
losses, claims, damages, liabilities and expenses referred to above shall be
deemed to include, subject to the limitations set forth in this section, any
legal or other fees or expenses reasonably incurred by such party in
connection with any investigation or proceeding.  If an Indemnified Party,
acting reasonably, determines that any payment in respect of indemnification
or contribution (the "Payment") made pursuant to this Schedule "13.1" is
subject to taxes payable under the EXCISE TAX ACT (Canada) ("GST") or under
any provincial or other legislation similar to the EXCISE TAX ACT, or under
any successor legislation of like or similar effect (collectively, the
"ETA"), or if any sales or similar tax under any provincial or other
legislation not substantially harmonised with the ETA is applicable to such
Payment, the amount of the Payment shall be increased by the amount of all
applicable taxes to the extent necessary to compensate the Indemnified party
for any net GST or similar tax cost not recoverable as input tax credit or
similar tax recoveries.

              The parties hereto agree that it would not be just and
equitable if contribution pursuant to this section were determined by pro
rata allocation or by any other method of allocation which does not take into
account the equitable considerations referred to above.  No person guilty of
fraudulent misrepresentation (as defined in the applicable securities
legislation) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation.

              If indemnification is available under this section, the
Indemnifying Parties shall indemnify the Indemnified Parties to the full
extent provided in this Section.

The Selling Holders shall be deemed to be acting as agent and attorney herein
for their respective controlling persons or entities, their respective
underwriters (and persons or entities which control such underwriters) and
the respective directors, officers, partners, agents and affiliates thereof
with respect to the rights of indemnification and contribution herein
contained.
<PAGE>

                                 APPENDIX "A"
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------
          NAME OF SHAREHOLDERS                   NUMBER OF COMMON SHARES
-----------------------------------------------------------------------------
<S>                                     <C>
 Blue Sky Capital Corporation                          2,000,000
-----------------------------------------------------------------------------
 1319079 Ontario Inc.                                  2,000,000
-----------------------------------------------------------------------------
 Bank of Montreal                                      1,714,285
-----------------------------------------------------------------------------
 Bank of America Corporation                           1,600,000
-----------------------------------------------------------------------------
 CSTC                                                  3,200,000
-----------------------------------------------------------------------------
 Sonera Corporation                                    3,200,000
-----------------------------------------------------------------------------
 WFC Holdings Corporation                                392,157
-----------------------------------------------------------------------------
 Financial Technology Ventures (Q), L.P.                 252,105
-----------------------------------------------------------------------------
 Financial Technology Ventures, L.P.                       9,333
-----------------------------------------------------------------------------
 HSBC Investment Bank plc.                               333,333
                                        Common Shares and the HSBC Warrant in
                                          respect of 333,334 Common Shares
-----------------------------------------------------------------------------
</TABLE>
<PAGE>

                             TABLE OF CONTENTS

<TABLE>
<CAPTION>

                                                                             PAGE NO.
<S>                                                                          <C>
ARTICLE 1 DEFINITIONS AND INTERPRETATION . . . . . . . . . . . . . . . . . . . . . .3
       1.1    Definitions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
       1.2    Currency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
       1.3    Interpretation.. . . . . . . . . . . . . . . . . . . . . . . . . . . 18
       1.4    Governing Law/Submission to Jurisdiction.. . . . . . . . . . . . . . 19
       1.5    Number and Gender. . . . . . . . . . . . . . . . . . . . . . . . . . 19
       1.6    Computation of Time. . . . . . . . . . . . . . . . . . . . . . . . . 19
       1.7    Statutory References.. . . . . . . . . . . . . . . . . . . . . . . . 19
       1.8    Effect on Management.. . . . . . . . . . . . . . . . . . . . . . . . 19
       1.9    Rights and Obligations of Transferees. . . . . . . . . . . . . . . . 19
       1.10   Share References.. . . . . . . . . . . . . . . . . . . . . . . . . . 20
       1.11   Severability.. . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
       1.12   Termination. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
       1.13   Amendments and Waivers.. . . . . . . . . . . . . . . . . . . . . . . 21
       1.14   Accounting and Auditing. . . . . . . . . . . . . . . . . . . . . . . 22
       1.15   Shareholder Regulatory Requirements. . . . . . . . . . . . . . . . . 22
       1.16   References to Agreements.. . . . . . . . . . . . . . . . . . . . . . 24
       1.17   Special Provisions Relating to the Founding Shareholder. . . . . . . 24
       1.18   Special Provisions Relating to the Rights Attaching to the
       Common Shares Sold by the Founding Shareholder. . . . . . . . . . . . . . . 25
       1.19   Special Provisions Relating to FTV . . . . . . . . . . . . . . . . . 26
       1.20   Special Provisions Relating to the HSBC Warrant. . . . . . . . . . . 28

ARTICLE 2 TERMINATION OF PRIOR AGREEMENTS 29
       2.1    Amendment and Restatement of October 19, 1999 Unanimous
       Shareholders' Agreement/Termination of Prior Agreements. . . . . . . . . .  29

ARTICLE 3 WARRANTIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
       3.1    Shareholders.. . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
       3.2    Shareholders Which are Corporate or Other Entities.. . . . . . . . . 30
       3.3    The Corporation. . . . . . . . . . . . . . . . . . . . . . . . . . . 30
       3.4    Qualification of Representations and Warranties. . . . . . . . . . . 31

ARTICLE 4 PROVISIONS FOR CONTROL . . . . . . . . . . . . . . . . . . . . . . . . . 31
       4.1    Unanimous Shareholders' Agreement. . . . . . . . . . . . . . . . . . 31
       4.2    Corporate Governance Matters.. . . . . . . . . . . . . . . . . . . . 32
       4.3    Limitations on Liability/Shareholder Personal Interest.. . . . . . . 39
       4.4    Indemnification of Directors and Officers. . . . . . . . . . . . . . 41
       4.5    Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 42
       4.6    Effect of Article 4. . . . . . . . . . . . . . . . . . . . . . . . . 42
       4.7    Certain Matters Pertaining to Employee Shareholders and
              Management Shareholders. . . . . . . . . . . . . . . . . . . . . . . 42
       4.8    Conflicts of Interest. . . . . . . . . . . . . . . . . . . . . . . . 42
       4.9    Resolution of Disputes.. . . . . . . . . . . . . . . . . . . . . . . 43
</TABLE>

                                     (i)
<PAGE>

<TABLE>
<CAPTION>

                                                                             PAGE NO.
<S>                                                                          <C>
ARTICLE 5 OPERATION AND FINANCING. . . . . . . . . . . . . . . . . . . . . . . . . 43
       5.1    Composition and Compensation of Management Team. . . . . . . . . . . 43
       5.2    Accountants. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44
       5.3    Interim Financial Statements.. . . . . . . . . . . . . . . . . . . . 44

ARTICLE 6 RESTRICTIONS ON TRANSFERS OF SHARES. . . . . . . . . . . . . . . . . . . 44
       6.1    Restrictions on Transfers. . . . . . . . . . . . . . . . . . . . . . 44
       6.2    Permitted Transfers. . . . . . . . . . . . . . . . . . . . . . . . . 45
       6.3    Permitted Transfers for Founding Shareholder.. . . . . . . . . . . . 45
       6.4    Pledge of Common Shares by Founding Shareholder. . . . . . . . . . . 46

ARTICLE 7 RESTRICTIONS ON INDIRECT TRANSFERS OF SHARES OF THE CORPORATION. . . . . 46
       7.1    Management and Employee Shareholders - Restrictions on
       Transfer.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  46
       7.2    Management and Employee Shareholders - Permitted Transfers.. . . . . 47
       7.3    Management and Employee Shareholders - Prohibition to
              Amalgamate, Merge, etc.. . . . . . . . . . . . . . . . . . . . . . . 47
       7.4    BMO, BAC, CSTC, Sonera, WFC, FTV and HSBC - Restrictions on
              Transfer and Permitted Transfers.. . . . . . . . . . . . . . . . . . 47
       7.5    Founding Shareholder - Restrictions on Transfer and Permitted
              Transfers. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49
       7.6    Permissible Indirect Transfers and Permissible Amalgamations for
       the Founding Shareholder and the Strategic Partners. . . . . . . . . . . .  49

ARTICLE 8 DRAG-ALONG RIGHTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . 49
       8.1    Application. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49
       8.2    Right of First Offer . . . . . . . . . . . . . . . . . . . . . . . . 50
       8.3    Receipt of Third Party Written Offer.. . . . . . . . . . . . . . . . 50
       8.4    Offer for All, or Any and All, Common Shares.. . . . . . . . . . . . 51
       8.5    Offer for Less Than All Common Shares. . . . . . . . . . . . . . . . 51
       8.6    Terms of Sale by Shareholders. . . . . . . . . . . . . . . . . . . . 53
       8.7    Applicability of Tag-Along Rights. . . . . . . . . . . . . . . . . . 54
       8.8    Sales to Competitors.. . . . . . . . . . . . . . . . . . . . . . . . 54
       8.9    Application of Article 8 to Strategic Partners.. . . . . . . . . . . 54

ARTICLE 9 RIGHT OF FIRST REFUSAL ON SHARES HELD BY MANAGEMENT SHAREHOLDERS,
EMPLOYEE SHAREHOLDERS AND NON-EMPLOYEE DIRECTORS . . . . . . . . . . . . . . . . . 54
       9.1    Application. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
       9.2    Offer to Founding Shareholder and the Strategic Partners.. . . . . . 55
       9.3    Purchase of Shares by Founding Shareholder and the Strategic
       Partners  . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 55
       9.4    Sale Pursuant to Original Offer. . . . . . . . . . . . . . . . . . . 55
       9.5    Revival of Right of First Refusal. . . . . . . . . . . . . . . . . . 56
       9.6    Closing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
       9.7    Prohibited Sales.. . . . . . . . . . . . . . . . . . . . . . . . . . 56

ARTICLE 10 TAG-ALONG RIGHTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
       10.1   Application. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
       10.2   Tag-Along Right. . . . . . . . . . . . . . . . . . . . . . . . . . . 56
       10.3   Effect of Exercise of Tag-Along Right. . . . . . . . . . . . . . . . 59
       10.4   Terms of Sale by Shareholders. . . . . . . . . . . . . . . . . . . . 59

ARTICLE 11 PRE-EMPTIVE RIGHTS. . . . . . . . . . . . . . . . . . . . . . . . . . . 59
       11.1   Pre-emptive Right. . . . . . . . . . . . . . . . . . . . . . . . . . 59
</TABLE>

                                     (ii)
<PAGE>

<TABLE>
<CAPTION>

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       11.2   Offer to the Founding Shareholder and the Strategic Partners . . . . 60
       11.3   Purchase by Offeree. . . . . . . . . . . . . . . . . . . . . . . . . 60
       11.4   Application. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
       11.5   Special Provisions Relating to BMO's Pre-emptive Right.. . . . . . . 62
       11.6   Special Provisions Relating to BAC's Pre-emptive Right.. . . . . . . 64
       11.7   Special Provisions Relating to the Founding Shareholder's, CSTC's
       and Sonera's Pre-emptive Rights . . . . . . . . . . . . . . . . . . . . . . 66
       11.8   Subscription Representations . . . . . . . . . . . . . . . . . . . . 67
       11.9   Effect of Share Sales on Special Pre-emptive Rights. . . . . . . . . 67

ARTICLE 12 CALL RIGHT CONCERNING MANAGEMENT, NON-EMPLOYEE DIRECTORS AND EMPLOYEE
SHAREHOLDERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68
       12.1   Call Right.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68
       12.2   Calculation of Purchase Price. . . . . . . . . . . . . . . . . . . . 68
       12.3   Closing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69

ARTICLE 13 FOUNDING SHAREHOLDER REGISTRATION RIGHTS. . . . . . . . . . . . . . . . 69
       13.1   Demand Registration. . . . . . . . . . . . . . . . . . . . . . . . . 69
       13.2   Piggyback Registration.. . . . . . . . . . . . . . . . . . . . . . . 69
       13.3   Expiry of Registration Rights. . . . . . . . . . . . . . . . . . . . 70
       13.4   Short-Form Prospectus Registrations. . . . . . . . . . . . . . . . . 70

ARTICLE 14 REGISTRATION RIGHTS OF STRATEGIC PARTNERS, MANAGEMENT SHAREHOLDERS
AND NON-EMPLOYEE DIRECTORS . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70
       14.1   Demand Registration Rights of Strategic Partners . . . . . . . . . . 70
       14.2   Piggyback Registration Rights of Strategic Partners, Management
       Shareholders and Non-employee Directors . . . . . . . . . . . . . . . . . . 71
       14.3   Expiry of Registration Rights. . . . . . . . . . . . . . . . . . . . 72
       14.4   Short-Form Offering Registrations. . . . . . . . . . . . . . . . . . 72

ARTICLE 15 EXIT OPTIONS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72
       15.1   Strategic Partners' Ability to Cause an Initial Public Offering. . . 72
       15.2   Solicitation of Offers for All Outstanding Common Shares.. . . . . . 73
       15.3   Strategic Partner Offer to Founding Shareholder and Other
       Strategic Partners  . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74
       15.4   Termination of Employment of Greg Wolfond. . . . . . . . . . . . . . 75
       15.5   General Rules, Rights and Obligations Pertaining to Exit Options.. . 76

ARTICLE 16 GENERAL SALE PROVISIONS 77
       16.1   Application. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77
       16.2   Defined Terms. . . . . . . . . . . . . . . . . . . . . . . . . . . . 77
       16.3   Closing. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 77
       16.4   Indemnities. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79
       16.5   Repayment of Indebtedness by Corporation.. . . . . . . . . . . . . . 79
       16.6   Repayment of Indebtedness by Vendor. . . . . . . . . . . . . . . . . 79
       16.7   Power of Attorney. . . . . . . . . . . . . . . . . . . . . . . . . . 80
       16.8   No Joint Liability for Purchasers. . . . . . . . . . . . . . . . . . 80

ARTICLE 17 RESTRICTIVE COVENANTS . . . . . . . . . . . . . . . . . . . . . . . . . 80
       17.1   Management, Non-Employee Directors and Employee Shareholders.. . . . 80
       17.2   Confidential Information.. . . . . . . . . . . . . . . . . . . . . . 81
       17.3   Non-Solicitation Obligation of Strategic Partners and the Founding
       Shareholder . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 83
       17.4   Acknowledgement of Reasonableness. . . . . . . . . . . . . . . . . . 83
</TABLE>

                                     (iii)
<PAGE>

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       17.5   Survival.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84

ARTICLE 18 GUARANTEE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84
       18.1   Guarantee of Principal.. . . . . . . . . . . . . . . . . . . . . . . 84
       18.2   Nature of Guarantee. . . . . . . . . . . . . . . . . . . . . . . . . 84
       18.3   Grant of Extensions, etc.. . . . . . . . . . . . . . . . . . . . . . 84
       18.4   Not Bound to Exhaust Recourses.. . . . . . . . . . . . . . . . . . . 85

ARTICLE 19 GENERAL CONTRACT PROVISIONS . . . . . . . . . . . . . . . . . . . . . . 85
       19.1   Share Certificate Legend.. . . . . . . . . . . . . . . . . . . . . . 85
       19.2   Notices. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85
       19.3   Deemed Adequate Notice.. . . . . . . . . . . . . . . . . . . . . . . 90
       19.4   Further Acts.. . . . . . . . . . . . . . . . . . . . . . . . . . . . 90
       19.5   Time.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91
       19.6   Entire Agreement.. . . . . . . . . . . . . . . . . . . . . . . . . . 91
       19.7   Counterparts.. . . . . . . . . . . . . . . . . . . . . . . . . . . . 91
       19.8   Enurement. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1
       19.9   Language.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1
</TABLE>

SCHEDULE "1.1(F)" - DEFINITION OF ARM'S LENGTH

SCHEDULE "1.1(GG)" - FORM OF HSBC WARRANT

SCHEDULE "4.9" - ARBITRATION PROCEDURES

SCHEDULE "6.2" - ACKNOWLEDGMENT OF ASSUMPTION OF OBLIGATIONS

SCHEDULE "11.4" - ACKNOWLEDGMENT OF ASSUMPTION OF OBLIGATIONS

SCHEDULE "13.1" - REGISTRATION RIGHTS

APPENDIX "A"

                                     (iv)
<PAGE>

                             HSBC INVESTMENT BANK PLC.

                                        AND

            THE DIRECTORS, OFFICERS AND EMPLOYEES OF 724 SOLUTIONS INC.
                     WHO BECOME SHAREHOLDERS FROM TIME TO TIME

                    AMENDED AND RESTATED UNANIMOUS SHAREHOLDERS'
                                     AGREEMENT

                                  October 26, 1999

<PAGE>

                                 724 SOLUTIONS INC.

                                        AND

                            BLUE SKY CAPITAL CORPORATION

                                        AND

                                1319079 ONTARIO INC.

                                        AND

                                  BANK OF MONTREAL

                                        AND

                            BANK OF AMERICA CORPORATION

                                        AND

                                      CITICORP

                                        AND

                     CITICORP STRATEGIC TECHNOLOGY CORPORATION

                                        AND

                                 SONERA CORPORATION

                                        AND

                              WFC HOLDINGS CORPORATION

                                        AND

                      FINANCIAL TECHNOLOGY VENTURES (Q), L.P.

                                        AND

                        FINANCIAL TECHNOLOGY VENTURES, L.P.

                                        AND<PAGE>

**** CERTAIN PORTIONS OF THIS AGREEMENT HAVE BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST
FOR CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT OF 1933,
AS AMENDED.

                         MASTER TECHNOLOGY LICENSE AGREEMENT

       THIS AGREEMENT is made the 29th day of December, 1999

B E T W E E N:

              724 SOLUTIONS CORP., a corporation incorporated under the laws of
              the State of Delaware, having its registered office at 1209
              Orange Street, Wilmington, Delaware 19801 ("LICENSOR");

                                       -AND-

              CITICORP STRATEGIC TECHNOLOGY CORPORATION, a corporation
              established under the laws of Delaware having an office at 399
              Park Avenue, New York, New York, 10043 ("CITIBANK").

BACKGROUND:

1.     Licensor is an indirectly wholly-owned subsidiary of 724 Solutions Inc.
       ("724 Solutions"), and a directly wholly-owned subsidiary of 724
       Solutions International SRL ("724 SRL");

2.     724 Solutions, 724 SRL and its Affiliates (as defined below) are in the
       business of designing and developing Internet Protocol-based electronic
       banking, brokerage, insurance, financial services and e-commerce
       applications which allow its licensees to deliver their services to
       their customers over a variety of access devices;

3.     Licensor is in the business of marketing and selling the banking,
       brokerage, insurance, financial services and e-commerce applications to
       financial institutions in order to allow such financial institutions to
       provide certain services to their customers, and 724 Solutions wishes
       to facilitate financial institutions' buying or licensing the
       applications by providing consulting and maintenance services with
       respect thereto; and

4.     Citibank wishes to enter into an Agreement with Licensor whereby
       Citibank and its Affiliates (as defined below), upon execution of the
       applicable Licensed Affiliate Agreement (as defined below), may license
       certain 724 Modules (as defined below) for use in certain 724 Channels
       (as defined below), all in accordance with the terms and conditions of
       this Agreement.

IN CONSIDERATION of the promises, the mutual covenants contained herein and
other good and valuable consideration (the receipt and sufficiency of which are
hereby acknowledged), the Parties hereto agree as follows:

<PAGE>

                                       - 2 -

                                     ARTICLE I
                     INTERPRETATION AND STRUCTURE OF AGREEMENT

1.1    DEFINITIONS.  In this Agreement, the following expressions shall have
       the following meanings:

       "AFFILIATE" of a Person means an entity, present or future, directly or
       indirectly controlled by, controlling or under common control with
       such Person or their successors subject to the provisions of Section
       9.3.  For the purposes of this definition of Affiliate, an entity
       "controls" a Person where that entity owns at least 25% of the equity,
       directly or indirectly, of that Person.

       "AGREEMENT" means in respect of each Licensed Affiliate, this Master
       Technology License Agreement, all Exhibits attached hereto, the
       Licensed Affiliate Agreement and all Schedules attached thereto and
       any written agreement or written exhibit or written schedule signed by
       the Parties supplementing or amending any of the foregoing.  The words
       "hereto," "herein," "hereof," "hereby" and "hereunder" and similar
       expressions refer to this Agreement and not to any particular section
       or portion of it.  References to an Article, Section, Subsection or
       Schedule refer to the applicable article, section, subsection or
       schedule of this Agreement.

       "BUSINESS DAY" means any day, other than a Saturday, Sunday, statutory
       or civic holiday in the governing jurisdiction as set out in the
       relevant Licensed Affiliate Agreement.

       "CLIENT EXECUTABLE COMPONENTS" means, with respect to certain Licensed
       Channels which may require limited components of the Software to
       reside on Customers' devices and/or at the premises of a third party
       in support of such Customers' devices, such components.

       "COMPETITIVE AREAS" means, with respect to a Person, those parts,
       divisions, or business units of such Person whose principal business is
       the commercial development, marketing or licensing of commercial
       products that are competitive with the Licensed Technology.  For
       clarity, where this Agreement expressly provides that Licensee may
       engage a Contractor of Licensee to provide services on behalf of
       Licensee, any of a Person's parts, divisions or business units that are
       not Competitive Areas ("Non-Competitive Areas") may provide such
       services to Licensee provided such Non-Competitive Areas agree in
       writing to not use (other than on behalf of Licensee) or disclose to
       Competitive Areas or to third parties any Confidential Information
       received directly or indirectly from Licensor, Licensee or any of their
       Affiliates.  For clarity, a Person, or any parts, divisions, or
       business units of such Person whose principal business is providing
       banking, financial, insurance or brokerage services to customers is
       not a Competitive Area.

       "CONFIDENTIAL INFORMATION" means any information, technical data or
       know-how including that which relates to a Party's or its Affiliates'
       hardware, software, screens, specifications, designs, plans, drawings,
       data, prototypes, discoveries, research, developments, processes,
       procedures, intellectual property, market research, marketing
       techniques and plans, business plans and strategies, customer names
       and other

<PAGE>

                                       - 3 -

       information related to customers, price lists, pricing
       policies and financial information or other business and/or technical
       information and materials, in oral, demonstrative, written,
       electronic, graphic or machine-readable form and any analyses,
       compilations, studies or documents prepared by the Receiving Party (as
       defined in Section 7.1), its representatives or employees which
       summarize any such information of the Disclosing Party (as defined in
       Section 7.1).  Confidential Information also includes any information
       described above which either Party or any of its Affiliates has
       obtained from another Party that treats such information as
       proprietary or designates it as Confidential Information whether or
       not it is owned or developed by such Party or its Affiliates.
       Notwithstanding anything to the contrary contained herein, neither
       Party shall have any obligation with respect to any Confidential
       Information of the other Party which, as evidenced by tangible records
       kept in the ordinary course of business: (i) is or becomes generally
       known to companies engaged in the same or similar business as the
       Parties hereto on a non-confidential basis, through no wrongful act of
       the Receiving Party; (ii) is lawfully obtained by the Receiving Party
       from a third party who may lawfully disclose it and without any
       obligation by the Receiving Party to such third party to maintain the
       information proprietary or confidential; (iii) is known by the
       Receiving Party prior to disclosure hereunder without any obligation
       to keep it confidential and such information was not disclosed by the
       Disclosing Party under this Agreement; (iv) is independently developed
       by the Receiving Party without reference to or use of the other's
       Confidential Information; or (v) is the subject of a written agreement
       whereby the Disclosing Party consents to the disclosure of such
       Confidential Information.

       "CONSULTING SERVICES" has the meaning set forth in Section 3.1.

       "CONTENT" means the data feeds, copyright material, information
       services and other content that may be transmitted to Customers using
       the Licensed Technology.

       "CONTRACTOR OF LICENSEE" means a contractor, agent, employee or
       representative (i) controlling, operating or maintaining the System
       Requirements or other systems or processes of such Licensee used to
       provide Licensee Services to Customers or (ii) providing services to
       Licensee pursuant to Sections 3.1 or 3.5.

       "CUSTOMER" means an end-user customer of Licensee.

       "CUSTOMIZATION" means any software or other application created (i) by
       Licensor and/or its Affiliates at the request of a Licensed Affiliate
       pursuant to a Statement of Services or (ii) in accordance with the
       provisions of Section 3.5.

       "DERIVATIVE WORK" means a work which is based on the Licensed
       Technology, such as a revision, enhancement, modification,
       translation, abridgement, condensation, expansion, or any other form
       in which the underlying work may be recast, transformed, or adapted,
       and which, if prepared without authorization of the owner of the
       copyright in the underlying work, would constitute a copyright
       infringement.  Derivative Works are subject to the ownership rights
       and licenses of others in the underlying work.

<PAGE>

                                       - 2 -

       "DESIGNATED SITES" means the sites from which Licensee operates the
       Licensed Technology (other than certain Client-Executable Components)
       in accordance with the terms of this Agreement and which are set out
       in the Licensed Affiliate Agreement, as may be changed from time to
       time in the sole discretion of Licensee upon 60 days written notice to
       the 724 Distribution Company which is party to such Licensed Affiliate
       Agreement.

       "EMBEDDED THIRD PARTY MATERIALS" has the meaning set forth in Section
       2.6(b).

       "INCLUDING" and "INCLUDES" shall be deemed to be followed by the
       statement "without limitation" and neither of such terms shall be
       construed to limit any word or statement which it follows to the
       specific or similar items or matters immediately following it.

       "INTELLECTUAL PROPERTY RIGHTS" include: (A) any and all proprietary
       rights provided under (i) patent law, (ii) copyright law, (iii) design
       patent or industrial design law, (iv) semi-conductor chip or mask work
       law, or (v) any other statutory provision or common law principle,
       applicable to 724 Solutions, 724 SRL, the Licensor and, if applicable,
       the relevant 724 Distribution Company, which may provide a right in
       either (a) ideas, formulae, algorithms, concepts, inventions or
       know-how generally, including trade secret law, or (b) the expression
       or use of such ideas, formulae, algorithms, concepts, inventions or
       know-how; and (B) any and all applications, registrations, licenses,
       sub-licenses, franchises, agreements or any other evidence of a right
       in any of the foregoing.

       "LICENSED AFFILIATE" means Citibank (provided it has entered into the
       Licensed Affiliate Agreement) or each Affiliate of Citibank which has
       entered into the Licensed Affiliate Agreement provided that a Person
       whose principal business is the commercial development, marketing or
       licensing of commercial products that are competitive with the
       Licensed Technology shall be deemed to not be an Affiliate of Citibank
       for the purposes of this Agreement.

       "LICENSED AFFILIATE AGREEMENT" means an agreement in the form of the
       agreement attached hereto as Exhibit D whereby Citibank or any
       Affiliate of Citibank agrees to be bound by the terms and conditions
       of this Agreement.

       "LICENSE FEE MINIMUM" has the meaning set forth in Section 5.5.

       "LICENSED CHANNEL" means any 724 Channel through which the 724
       Technology or information capable of being delivered by 724 Technology
       can be delivered, as is offered or made available to Licensee and/or
       its licensees generally.

       "LICENSED MODULES" means the 724 Modules delivering banking and
       brokerage information as specified in Exhibit B (and each Update or
       Upgrade thereto which Licensee wishes to use in accordance with the
       terms thereof) and such other 724 Modules agreed to by the parties in
       a particular Licensed Affiliate Agreement.

       "LICENSED TECHNOLOGY" means, as set forth in Exhibit B, that part of
       the 724 Technology delivered by Licensor and/or its Affiliates to
       Licensee from time to time.  The Licensed Technology will include all
       Client Executable Components needed in connection with a

<PAGE>

                                       - 5 -

       724 Channel and/or the devices operated by Customers in order
       for the Licensed Technology to be used by Customers.  For
       greater certainty, Licensed Technology expressly includes
       Embedded Third Party Materials and Customizations and excludes
       System Requirements, Content and Non-Embedded Third Party
       Materials.

       "LICENSEE" means each respective Licensed Affiliate.

       "LICENSEE SERVICES" means the services delivered by Licensee to its
       Customers as supported by the Licensed Technology.

       "MAINTENANCE SERVICES" has the meaning set forth in Section 4.1.

       "NON-EMBEDDED THIRD PARTY MATERIALS" has the meaning set forth in
       Section 2.6(c).

       "PARTY" means, in respect of a Licensed Affiliate Agreement, the
       relevant 724 Distribution Company or Licensee and "PARTIES" means both
       of them and, in the context of this Master Technology License
       Agreement, "PARTY" means Licensor or Citibank and "PARTIES" means both
       of them.

       "PERSON" shall be broadly interpreted and includes an individual,
       corporation, partnership, joint venture, trust, association,
       unincorporated organization, any Governmental Authority or any other
       entity recognized by law.

       "724 CHANNELS" means any one or more consumer devices or types of
       consumer devices capable of utilizing 724 Technology currently or at
       some point in the future (whether based on technology now or hereafter
       known) and which includes: game consoles, set-top boxes, a PC plug-in,
       wireless telephones, lap top computers, "information appliances"
       (whether stand alone or integrated with other devices), or smart
       handheld devices such as personal digital assistants.  Currently
       available 724 Channels include digitally enabled wireless telephones
       using a phone.com browser, pc channel, html channel and PalmPilot
       connected organizers versions 3.02 OS and higher excluding Palm VII.

       "724 DISTRIBUTION COMPANY" means an Affiliate of 724 Solutions
       (including Licensor) which may be designated to enter into, and which
       has full corporate and contractual right, power and authority to enter
       into, a Licensed Affiliate Agreement with a Licensed Affiliate based
       on the jurisdiction in which the said Licensed Affiliate carries on
       business.

       "724 MODULES" means any software applications that (currently or in
       the future) are capable of utilizing 724 Technology with any 724
       Channel to support the business segments of Banking, Brokerage,
       Financial Services, Insurance and E-commerce.

       "724 SERVICES" means the Consulting Services and/or the Maintenance
       Services performed by Licensor or its Affiliates.

       "724 TECHNOLOGY" means all as set forth in Exhibit B (i) the Software
       and related documentation, and (ii) Software Upgrades and Updates and
       related documentation.  724 Technology also includes any process or
       solution Licensor and/or its Affiliates

<PAGE>
                                     - 6 -

       implements to provide a Customization and any software developed,
       owned, licensed or otherwise generally made available by Licensor
       and/or its Affiliates to Licensees and/or its licensees generally from
       time to time and any Embedded Third Party Materials.

       "SOFTWARE" means the Licensed Modules, Client Executable Components, and
       such software as is necessary to utilize a Licensed Channel.

       "STATEMENT OF SERVICES" has the meaning set forth in Section 3.1.

       "SYSTEM REQUIREMENTS" has the meaning set forth in Section 2.6(a).

       "UPDATE" means any process or solution that Licensor and/or its
       Affiliates implements to correct defects in any Licensed Technology and
       which may include modifications to improve performance or a revised
       version or release of Licensed Technology which may incidentally improve
       its functionality, but expressly excludes Upgrades.

       "UPGRADE" means a new version or release of 724 Technology that improves
       the functionality of, or adds functional capabilities to, the Licensed
       Technology, and that Licensor and/or its Affiliates (i) makes available
       to its licensees generally, or (ii) otherwise makes available to
       Licensees.  Upgrade also includes any new version or release of 724
       Technology that is identified by a new version number.

1.2    HEADINGS.  The headings in this Agreement are for convenience of
       reference only and shall not affect the construction or interpretation
       hereof.

1.3    EXTENDED MEANINGS.  Words in the singular include the plural and
       vice-versa and words in one gender include all genders.

1.4    ENTIRE AGREEMENT.  In respect of each Licensed Affiliate, the Parties
       agree that the Agreement constitutes the complete and exclusive statement
       of the terms and conditions between Licensor (or its Affiliates) and the
       Licensed Affiliate pertaining to the performance thereof and cannot be
       altered, amended or modified except in writing executed by the Licensor
       (or its Affiliates) and the Licensed Affiliate.  Each of the Parties
       acknowledge that it has not been induced to enter into this Agreement by
       any representations not specifically stated herein or in the Support
       Agreement entered into by 724 Solutions Inc. and Citicorp Strategic
       Technology Corporation on even date herewith.

1.5    INVALIDITY.  If any of the provisions contained in this Agreement are
       found by a court of competent jurisdiction to be invalid, illegal or
       unenforceable in any respect, the validity, legality or enforceability of
       the remaining provisions contained herein shall not be in any way
       affected or impaired thereby.

1.6    GOVERNING LAW.  This Agreement shall be governed by and construed in
       accordance with the laws of the State of New York and the federal laws of
       the United States applicable therein (excluding any conflict of laws rule
       or principles that might refer such construction to the laws of another
       jurisdiction) and shall be treated, in all respects, as a New York
       contract.  The Parties agree that the courts of New York shall have
       exclusive jurisdiction over claims brought by either Party against the
       other Party, and, subject to
<PAGE>
                                     - 7 -

       Sections 9.9, 9.10 and 9.11, each Party agrees to bring any legal
       proceeding against the other Party only in the courts of New York.  If
       either Party is permitted to select whether any matter brought before
       a court is to be decided by jury or by judge, the Parties agree that
       they will not select to have any such matter decided by jury and
       hereby waive any such right to a jury trial.  Furthermore, the Parties
       expressly waive any objection that a matter is brought in an
       inconvenient forum when the venue for such matter is a court located
       in the borough of Manhattan, New York.  The Parties expressly exclude
       the application of the United Nations Convention on Contracts for the
       International Sale of Goods.

       The provisions of this Section 1.6 shall remain in force and effect after
       the termination of this Agreement.

1.7    EXHIBITS AND SCHEDULES.  The following exhibits and schedules shall form
       part of this Agreement:

       Exhibit A      -     License Fee Minimums

       Exhibit B      -     Specifications

       Exhibit C      -     Resource Commitments of 724

       Exhibit C-1    -     Consulting Services of Citibank

       Exhibit D      -     Form of Source Code Escrow Agreement

       Exhibit E      -     Software Maintenance and Support Services

       Exhibit F      -     Form of Licensed Affiliate Agreement

1.8    INTERPRETATION.  In construing this Agreement or determining the rights
       of the Parties hereto, no Party shall be deemed to have drafted or
       created this Agreement.

1.9    STRUCTURE OF AGREEMENT.  Licensor or any 724 Distribution Company agrees
       to offer to Affiliates of Citibank the opportunity to license the 724
       Technology on the terms and conditions as set forth herein.  Any license
       of 724 Technology to an Affiliate of Citibank shall be conditional upon
       (i) the Affiliate of Citibank not being a Person whose principal business
       is the commercial development, marketing or licensing of commercial
       products that are competitive with the Licensed Technology, (ii)
       Licensor's (or its Affiliates') and Licensee's (or its Affiliates')
       ability to procure necessary approvals in accordance with Section 2.7,
       and (iii) the execution by the relevant 724 Distribution Company and the
       Affiliate of Citibank of a Licensed Affiliate Agreement.  In the event
       that an Affiliate of Citibank proposes to alter the terms and conditions
       set out in this Master Technology License Agreement, then the relevant
       724 Distribution Company shall negotiate in good faith with respect
       thereto.  Each Licensed Affiliate Agreement shall constitute a separate
<PAGE>
                                     - 8 -

       agreement between the relevant 724 Distribution Company and the relevant
       Licensed Affiliate upon execution of the Licensed Affiliate Agreement by
       such Licensed Affiliate and such 724 Distribution Company, the terms of
       which shall consist exclusively of the terms and conditions of this
       Master Technology License Agreement (as may be amended by the Parties to
       the Licensed Affiliate Agreement), and those set forth in the Licensed
       Affiliate Agreement.  In the event there is any inconsistency between the
       terms of Articles I to IX of this Master Technology License Agreement and
       the Licensed Affiliate Agreement, the terms of the Licensed Affiliate
       Agreement shall prevail to the extent of any such inconsistency.

                                     ARTICLE II

                                  GRANT OF LICENSE

2.1    GRANT OF LICENSE.  Subject to the terms and conditions hereof,
       Licensor grants to Licensee a non-exclusive, non-transferable license
       (other than as expressly provided herein), for the term set out for
       Licensee in the Licensed Affiliate Agreement (subject to Article VIII)
       to use the Licensed Technology at a Designated Site only for the
       purpose of providing and using any services supported by the Licensed
       Modules via the Licensed Channels to Customers.  Licensee shall also
       be permitted to sublicense and distribute the Client Executable
       Components of the Licensed Technology to Customers of Licensee as may
       be required solely for the personal use by Customers in connection
       with any services supported by the Licensed Modules via the Licensed
       Channels and Non-Competitive Areas of third parties in support of such
       Customers' personal use.  The license grant herein includes the right
       to make and use back-up copies of the Licensed Technology as
       reasonably required to operate the Licensed Technology and/or deliver
       information to Customers via Licensed Modules.  For clarification, the
       delivery of any 724 Technology, present or future, to a Licensed
       Affiliate shall be deemed to be a conveyance of a license grant of the
       Intellectual Property Rights as specified herein. For clarity, it is
       understood that Citibank will not become a Licensee upon executing the
       Master Technology License Agreement and can become a Licensee only by
       executing a Licensed Affiliate Agreement.

2.2    CONTRACTORS OF LICENSEE.  Licensor and its Affiliates shall at no
       additional cost to Licensee make or permit Licensee to make the
       Licensed Technology available to Non-Competitive Areas of Contractors
       of Licensee as required to give effect to this Agreement, provided
       that such Non-Competitive Areas agree in writing to not use (other
       than on behalf of Licensee) and not to disclose to Competitive Areas
       or to third parties any Confidential Information received directly or
       indirectly from Licensor, Licensee or any of their Affiliates.

2.3    CUSTOMER LICENSE AGREEMENTS.  Licensee shall include substantially the
       following in a contract or license between Licensee and each Customer
       prior to the time such Customer commences to use the services supported
       by the Licensed Modules:

              "Customer agrees that it will use the service, and all
              related software provided to Customer by the Bank
              ("Software"), solely to access and use the banking and
<PAGE>
                                     - 9 -

              other services provided by the Bank.  Customer agrees not
              to decompile or reverse engineer the Software.  Customer
              agrees that the liability of any third party licensor or
              supplier to the Bank in the event of any disruption,
              interruption or other failure of the Service, or in any
              other way related to the Service, will be limited to
              Customer's direct damages not to exceed the service fees
              paid by Customer for the Service in the 12 months
              immediately prior to the event giving rise to the
              liability.  In no event will any third party licensor or
              supplier to the Bank be liable for indirect, consequential
              or special damages, including lost profits, even if the
              third party licensor or supplier to the Bank is given
              notice of them.  These limitations apply to all causes of
              action, including breach of contract and tort (including
              negligence).  Customer agrees not to bring any claims
              against such licensors or suppliers other than claims
              arising out of the gross negligence, willful misconduct or
              criminal act of such third party licensor or supplier,
              Customer's sole remedy being recovery from the Bank,
              subject to the limitations set forth elsewhere herein."

2.4    RESTRICTIONS ON USE.  Licensee shall:  (a) not transfer, lease, export or
       grant a sublicense of the Licensed Technology or the license contained
       herein to any Person except as and when authorized to do so herein; (b)
       not use the Licensed Technology except as authorized herein; (c) not
       disassemble, decompile or otherwise reverse engineer the Licensed
       Technology or create Derivative Works based upon the Licensed Technology
       or the accompanying documentation except as may be permitted pursuant to
       Article III or the Source Code Escrow Agreement between the Parties to be
       executed simultaneously with this Agreement in the form attached hereto
       as Exhibit D; (d) not use the Licensed Technology to act as a service
       bureau, in whole or in part, for any other Person except in respect of
       another Licensee; and (e) not permit Competitive Areas or, except as
       provided in Section 2.2, a Person whose principal business is the
       commercial development, marketing or licensing of commercial products
       that are competitive with the Licensed Technology, to have access to the
       Licensed Technology.

2.5    OWNERSHIP OF LICENSED TECHNOLOGY.  As between Licensor and its Affiliates
       and Licensee, Licensee acknowledges and agrees that, except as
       specifically provided for in Article III, the Licensed Technology and all
       Intellectual Property Rights therein are and shall at all times remain
       the exclusive property of Licensor and its Affiliates (including, without
       limitation, 724 SRL) and that no rights, title or ownership interest of
       any kind whatsoever in the Intellectual Property Rights therein, or any
       portion of same, except as provided in this Agreement, shall pass to
       Licensee.  Licensor acknowledges and agrees that Licensee shall have all
       right, title and interest in and to any software or technology and the
       Intellectual Property Rights therein that Licensee, its agents or
       contractors develop without the involvement of Licensor to work with the
       Licensed Technology provided that such software or technology does not
       (i) constitute a Derivative Work, in which case Licensor or its
       Affiliates shall have all right, title and interest in and to it, subject
       to the provisions of Section 3.4 and Licensee shall have a non-exclusive
       license and right to use such software or technology on the same terms
       and conditions as the Licensed Technology or (ii) infringe the
       Intellectual Property Rights of Licensor, 724 Solutions, 724 SRL or any
       third party owner of third party materials.

<PAGE>
                                    - 10 -

The provisions of this Section 2.5 shall remain in force and effect after the
termination of this Agreement.

2.6    THIRD PARTY MATERIALS.  Licensee acknowledges that certain third party
       materials may be required in order to develop, compile, use or operate
       the Licensed Technology, and agrees as follows:

       (a)    SYSTEM REQUIREMENTS.  Licensee acknowledges and agrees that
              there are a number of essential system components ("System
              Requirements") that are external to the Licensed Technology but
              required in order to use or operate the Licensed Technology,
              including network servers, database components and operating
              systems.  Licensor will specify all System Requirements to
              Licensee in the Licensed Affiliate Agreement.  Licensee agrees
              that the System Requirements may be amended by Licensor from
              time to time in connection with Upgrades only (provided that
              Licensee, should it not wish to use such Upgrades requiring
              amended System Requirements, will remain able to use the
              Licensed Technology other than such Upgrade as permitted
              herein), subject to the terms of Exhibit E.  Licensor warrants
              that System Requirements will consist entirely of components
              that are generally available, non-customized and able to be
              acquired from Licensed Affiliate-approved vendors.  In the
              event that components are not so available, Licensee shall
              provide Licensor with written notice and Licensor shall be
              permitted to specify equivalent alternative System Requirements
              that are so available.  Subject to the foregoing, Licensee
              shall be solely responsible for obtaining or licensing or
              otherwise acquiring the System Requirements, and shall be
              responsible for all upgrades, updates, maintenance and support
              in respect thereof.

       (b)    EMBEDDED THIRD PARTY MATERIALS.  Licensee acknowledges and agrees
              that Licensor and/or its Affiliates may, at their sole discretion,
              include in the Licensed Technology certain materials which are not
              owned by Licensor or any of its Affiliates but which are obtained
              or licensed by Licensor and/or its Affiliates from a third party,
              embedded in the Licensed Technology, and delivered to Licensee
              hereunder together with the Licensed Technology and specified for
              use with the Licensed Technology (the "Embedded Third Party
              Materials").  Licensor shall provide the Embedded Third Party
              Materials to Licensee at no additional cost and shall obtain for
              Licensee the right to use such Embedded Third Party Materials at
              no additional cost under the same terms and conditions as apply to
              the Licensed Technology including representations and warranties
              of the vendor to Licensor and/or its Affiliates.

       (c)    NON-EMBEDDED THIRD PARTY MATERIALS.  Licensee acknowledges and
              agrees that Licensor and/or its Affiliates may, from time to time,
              materially improve the functionality of the Licensed Technology
              with or develop new Licensed Technology which may include certain
              materials which are not owned by Licensor or its Affiliates but
              which are designed to function with the Licensed Technology and
              specified for use with the Licensed Technology ("Non-

<PAGE>
                                    - 11 -

              Embedded Third Party Materials").  For greater certainty,
              Non-Embedded Third Party Materials shall not include materials
              (i) included in Updates, or (ii) required to deliver
              information using 724 Channels made generally available to
              licensees.  In the event that Licensee elects to utilize the
              Non-Embedded Third Party Materials in conjunction with the
              Licensed Technology, Licensee shall cooperate with Licensor to
              obtain the necessary licenses or rights to use Non-Embedded
              Third Party Materials together with maintenance and support in
              connection with such materials on commercially reasonable
              terms.  Licensor and its Affiliates shall not be required to
              provide the Non-Embedded Third Party Materials at no additional
              cost and shall not be responsible for ensuring that Licensee
              obtain the rights to use such Non-Embedded Third Party
              Materials.

2.7    COMPLIANCE WITH EXPORT LAWS.  Licensee understands that the Licensed
       Technology may include cryptographic technology and other technology that
       is subject to restrictions imposed by export controls and other laws and
       regulations, and that the export of Licensed Technology may be highly
       regulated.  Licensee and Licensor shall cooperate to comply with all
       applicable export control and other relevant laws and regulations of any
       applicable jurisdiction that apply to the Licensed Technology, including
       any third party materials, that are used with the Licensed Technology.
       Notwithstanding the foregoing, Licensee shall be responsible at its
       expense for obtaining all export approvals for the delivery of the
       Licensed Technology from Canada to the Designated Site of Licensee,
       including U.S. export approval for U.S. origin components or third party
       materials as are Licensee's responsibility under applicable law.
       Licensor shall be responsible at its expense for obtaining all export
       approvals for the delivery of the Licensed Technology from Canada to the
       Designated Site of Licensee, including U.S. export approval for U.S.
       origin components or third party materials as are Licensor's
       responsibility under applicable law.

2.8    DELIVERY.  Licensor shall deliver to Licensee the Licensed Technology in
       object code form executable on the System Requirements by the date set
       out in the Licensed Affiliate Agreement.  Licensee shall have the right
       to require delivery by means of electronic transmission subject to the
       following provisions:

       (a)    Licensee shall provide and designate to Licensor a secure FTP site
              for the transmission; and

       (b)    Licensee shall assume full responsibility for any interception,
              breach of confidentiality, theft or other unauthorized disclosure
              or use of Confidential Information of Licensor and/or its
              Affiliates arising or resulting from such electronic transmission,
              provided that Licensor substantially complies with the reasonable
              information security specifications for the transmission that
              Licensee proposes. [****]

2.9    AUDIT.  Licensee shall keep accurate records of the number of Customers
using the Licensed Technology.  Upon ten Business Days notice, Licensor shall be
entitled to have its representatives attend at the offices of Licensee to review
and audit these records to

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
<PAGE>
                                    - 12 -

       ensure compliance by Licensee with the terms of this Agreement.  If
       any such review demonstrates a material breach of this Agreement, the
       cost of such review shall be borne by Licensee, with Licensor
       personnel being charged at the Consulting Services rates in the
       Licensed Affiliate Agreement.  Notwithstanding the above, Licensor
       shall not be entitled to conduct more than three (3) reviews in any
       twelve (12) month period, unless at least one such review in such
       twelve (12) month period demonstrates a material breach of this
       Agreement.

       The provisions of this Section 2.9 shall remain in force and effect after
       the termination of this Agreement.

                                    ARTICLE III

                                CONSULTING SERVICES

3.1    CONSULTING SERVICES.  Upon the mutual agreement of the Parties, Licensor
       (or the 724 Distribution Company as the case may be) or its
       subcontractors and agents will perform certain services for Licensee,
       such as consulting, development, testing, implementation, integration,
       installation, Content organization and administration, software
       customization, training and education (collectively, the "Consulting
       Services"), as specified in work plans or an agreement ("Statement of
       Services") signed by the Parties from time to time.  Each Statement of
       Services shall incorporate the terms of this Agreement by reference as is
       appropriate in the circumstances.

3.2    PRINCIPAL CONTACT.  Licensee shall designate one of its employees with
       sufficient authority to approve expenditures for Consulting Services, who
       shall act as Licensee's principal contact with Licensor (or the 724
       Distribution Company, as the case may be) for all Consulting Services to
       be provided to Licensee hereunder.  All contact with Licensor and all
       requests for Consulting Services at any of Licensee's locations shall be
       through such designated contact.  Licensee may change any designated
       employee at any time by notifying Licensor of such change in writing.
       Upon a request for Consulting Services by Licensee, Licensor (or the 724
       Distribution Company, as the case may be) shall promptly notify Citibank
       of the particulars of such request for informational purposes only.

3.3    FEES.  The Statement of Services shall set out the fees to be paid by
       Licensee for the Consulting Services to be provided under such Statement
       of Services.  The Statement of Services will also list resources to be
       provided by Licensee in order to permit Licensor (or the 724 Distribution
       Company, as the case may be) to perform the Consulting Services.
       Licensee acknowledges that failure to provide these resources will
       adversely impact Licensor's (or the 724 Distribution Company's, as the
       case may be) ability to provide the Consulting Services.

3.4    INTELLECTUAL PROPERTY RIGHTS.

       (a)    Unless otherwise expressly provided in the Statement of Services,
              724 SRL shall own all Intellectual Property Rights in the software
              and other materials directly
<PAGE>
                                    - 13 -

              resulting from the Consulting Services (including
              Customizations).  In order to give effect to the above,
              Licensee hereby irrevocably sells, assigns, grants and
              transfers to 724 SRL all of Licensee's worldwide right, title
              and interest in such Customization and all related Intellectual
              Property Rights provided, however, that to the extent
              Confidential Information of Licensee is incorporated in or used
              in connection with such resulting software and other materials,
              ownership of and all rights in such Licensee Confidential
              Information shall remain with Licensee.  Licensee shall further
              execute any document and do all such acts that Licensor may
              reasonably require to effectively carry out the intent of this
              Section 3.4(a).

       (b)    If a Statement of Services expressly provides that Licensee shall
              own all Intellectual Property Rights resulting from the Consulting
              Services (including Customizations), then in order to give effect
              to this Section 3.4(b), Licensor hereby irrevocably sells,
              assigns, grants and transfers to Licensee all of Licensor's
              worldwide right, title and interest in such Customization,
              software and other materials directly resulting from Consulting
              Services and all related Intellectual Property Rights.
              Notwithstanding the above, if the use of such Customization is
              necessary to deliver a 724 Channel (i.e., the Customization is an
              Embedded Third Party Material), the Licensee shall grant to the
              Licensor and/or its Affiliates an irrevocable, unrestricted,
              nonexclusive, worldwide, royalty free, paid-up license under such
              Intellectual Property Rights.  For greater certainty, the
              preceding license shall include the unrestricted rights to make,
              have made, use, sell, lease or otherwise transfer any apparatus,
              and to practice any method, covered by the Intellectual Property
              Rights.  The preceding license shall also include the right to
              reproduce and to prepare derivative works from the works covered
              by the Intellectual Property Rights.  Such license also includes
              the right to grant sub-licenses to any of the Affiliates of the
              Licensor.  However, nothing in this Section 3.4(b) shall be
              construed to grant any license or right in any Licensee
              Confidential Information.

              Whether 724 SRL or Licensee owns the Intellectual Property Rights
              in the software and other materials directly resulting from the
              Consulting Services (including Customizations), Licensee shall be
              entitled to have a period of six (6) months of exclusive
              commercial use before Licensor and/or its Affiliates may offer
              such software and other materials, including derivative works or
              work products for use by any third party, and Licensor hereby
              agrees to such exclusivity.  During such six (6) months period,
              Licensor shall not disclose or make available for review such
              software and other materials, including derivative works or work
              products to any third party. The six (6) months exclusivity period
              shall begin on the date such software and other materials are made
              available to Licensee for use.

       The provisions of this Section 3.4 shall remain in force and effect
       after the termination of this Agreement.

3.5    ACCESS TO SOURCE CODE.
<PAGE>
                                    - 14 -

       (a)    NO OTHER ACCESS.  Except as provided in clause (b) hereof and in
              the Source Code Escrow Agreement to be entered into in the form
              attached as Exhibit D contemporaneously with the first Licensed
              Affiliate Agreement, Licensee shall not be entitled to access the
              source code for the Software.

       (b)    LIMITED ACCESS TO SOURCE CODE.  If each and every one of the
              following conditions (the "Access Conditions") is satisfied,
              Licensee will be entitled to access and use limited portions of
              the source code of the Licensed Technology (the "Source Code") in
              accordance with clause (c) hereof.  The Access Conditions are:

              (i)     Licensee is not in arrears on any non-disputed payment
                      due hereunder; and

              (ii)    Licensee has requested in writing a specific
                      customization (the "Customization") to the Licensed
                      Technology that does not involve a modification to the
                      core architecture of the Licensed Technology, or if it
                      does involve a modification to the core architecture of
                      the Software, the Customization involves a 724 Channel
                      that is not a Licensed Channel; and

              (iii)   neither Licensor (or its Affiliates) nor an
                      implementation/consulting partner of Licensor or its
                      Affiliates reasonably acceptable to Licensee has the
                      personnel, resources or willingness to complete the
                      Customization under reasonable commercial terms within
                      six months of the commencement of the project, provided,
                      however, Citibank shall cooperate with Licensor (or its
                      Affiliates) in retaining an implementation/consulting
                      partner of Licensor or its Affiliates on reasonable
                      commercial terms; and

              (iv)    there exists at the time of the Licensee request no
                      Licensor provided tool kit or utility, or commercially
                      available at reasonable cost tool kit or utility that
                      would permit Licensee's technical staff to implement the
                      Customization without access to the Source Code.

       (c)    TERMS OF SOURCE CODE ACCESS.  If the Access Conditions are met,
              Licensee may request, and Licensor shall deliver or cause to be
              delivered to Licensee at a single premises of Citibank in the
              United States or Canada (the "Licensed Premises") that portion of
              the Source Code (the "Licensed Source Code") reasonably required
              to develop the Customization.  The following terms shall apply to
              the Licensed Source Code:

              (i)     Licensee and/or a Contractor of Licensee will have a
                      limited use, temporary, non-exclusive and
                      non-transferable license to use the Licensed Source
                      Code solely to develop the Customization at the
                      Licensed Premises and implement the object code version
                      of the Customization at the Designated Site and, to the
                      extent the Customization includes Client Executable
                      Components, on Customers' devices or at Non-Competitive
                      Areas as required pursuant to Section 2.1.  Licensee
                      will make no other use of the Licensed Source Code;
<PAGE>
                                    - 15 -

              (ii)    Licensee and/or a Contractor of Licensee will use the
                      Licensed Source Code only at the Licensed Premises and
                      will not remove the Licensed Source Code from the
                      Licensed Premises;

              (iii)   Licensee and/or a Contractor of Licensee will keep the
                      Licensed Source Code under tight security, both physical
                      and computer based, while at the Licensed Premises.
                      Physical security includes keeping hard copy of the
                      Licensed Source Code in a locked filing cabinet, in a
                      locked room, when not being used.  Computer Security
                      includes using the Licensed Source Code only on a stand
                      alone computer not connected to any Licensee network or
                      the Internet at the time of such use;

              (iv)    only employees of Licensee and/or a Contractor of
                      Licensee will have access to the Licensed Source Code,
                      and each such employee, before being given access, must
                      sign a non-disclosure and proprietary rights ownership
                      agreement with Licensee and Licensor and/or its
                      Affiliates in a form reasonably acceptable to Licensor
                      and/or its Affiliates;

              (v)     Licensee agrees to be responsible for, and hereby agrees
                      to indemnify Licensor and/or its Affiliates, subject to
                      the provisions of Article VI, from any loss, cost, damage
                      or expense incurred by Licensor and/or its Affiliates as
                      a result of any unauthorized third party (including a
                      Contractor of Licensee) obtaining access to the Licensed
                      Source Code through the acts or omissions of Licensee.
                      Licensee will notify Licensor immediately if it is aware
                      of any unauthorized access to or use of the Licensed
                      Source Code;

              (vi)    as soon as Licensee has completed the development and
                      implementation of the Customization, Licensee will
                      promptly return to Licensor the Licensed Source Code and
                      all copies thereof; and

              (vii)   prior to delivery of the Licensed Source Code, Citibank
                      provides Licensor and/or its Affiliates with an
                      unconditional and irrevocable guarantee or its reasonable
                      equivalent of the obligations of Licensee under this
                      Section 3.5(c).

       The material breach by Licensor and/or its Affiliates of this Section
       3.5(c) shall be a Release Condition as defined in the Source Code Escrow
       Agreement.

       (d)    NO SUPPORT.  Unless otherwise agreed to in writing by the Parties,
              Licensor or its Affiliates shall have no responsibility to provide
              Licensee with maintenance, support or other services in respect of
              any Customization developed by Licensee pursuant to this Section
              3.5 that is not also an Embedded Third Party Material.  Licensor
              or its Affiliates shall also not be responsible for errors or
              problems in the Licensed Technology caused by such Customization,
              and to the extent Licensor or its Affiliates spends time
              diagnosing or attempting to correct such errors, Licensor or its
              Affiliates shall be entitled to charge extra for such services at
              its then prevailing hourly rates.  If Licensor or its Affiliates
              do not agree to maintain and

<PAGE>
                                    - 16 -

              support a Customization developed by Licensee pursuant to this
              Section 3.5, Licensee may itself or through a Contractor of
              Licensee maintain and support such Customization and will have
              the limited access to the Source Code provided in this Section
              3.5 solely to provide such maintenance and support, provided
              Licensee agrees to use reasonable efforts to limit the number
              of Contractors of Licensee under this Section 3.5(d).

       (e)    OTHER PROVISIONS.  The Parties agree that the provisions in
              Sections 2.8, 6.3, 6.4, 6.5, 6.6, 6.7, 6.8 and 7.1 shall apply to
              the Licensed Source Code.

                                     ARTICLE IV

                                MAINTENANCE SERVICES

4.1    PROVISION OF MAINTENANCE SERVICES.  Subject to the exclusions set out in
       Section 4.2 and 4.3 and the payment by Licensee to the designated 724
       Distribution Company of the relevant Maintenance Fees and other charges
       provided for herein, Licensor and/or its Affiliates or their contractors,
       agents, employees and representatives that have been approved by Licensee
       (such approval not to be unreasonably withheld) shall provide to Licensee
       the Maintenance Services described in Exhibit E in respect of the 724
       Technology during the term of the license granted hereunder.  Licensee
       shall obtain Maintenance Services from Licensor or its Affiliates for as
       long as Licensee uses the Licensed Technology.

4.2    EXCLUSIONS.  Licensor shall not be required to provide Maintenance
       Services:

       (a)    to any Person other than Licensee; and

       (b)    in respect of any software or technology that is not the Licensed
              Technology.

4.3    THIRD PARTY MATERIALS.  Licensor (and its Affiliates) shall not be
       responsible for providing Maintenance Services in respect of System
       Requirements and Non-Embedded Third Party Materials.  However, Licensor
       shall use reasonable commercial efforts to make any warranty or
       maintenance services of the licensor of any Non-Embedded Third Party
       Materials available to the Licensed Affiliates on reasonable commercial
       terms.

                                     ARTICLE V

                                FEES & PAYMENT TERMS

5.1    FEES AND CHARGES.  Licensee agrees to pay to the designated 724
       Distribution Company the fees set out in the Licensed Affiliate
       Agreement.

5.2    TRAVEL EXPENSES AND OTHER CHARGES.  If Licensee requests that staff of
       Licensor or its Affiliates travel outside of Metro Toronto (or, with
       respect to a 724 Distribution Company, outside a 50 mile radius from such
       724 Distribution Company) for the purpose of providing services to
       Licensee, Licensee shall reimburse Licensor (or provide payment
<PAGE>
                                    - 17 -

       as Licensor may direct) for reasonable travel expenses, approved in
       advance in writing, on a cost basis, including transportation, living
       and communications costs, which fees and costs shall be paid by
       Licensee within thirty (30) days of receipt of an invoice from
       Licensor for such amounts.  Licensee shall be solely responsible for
       any fees or charges associated with the Content delivered by means of
       the Licensed Technology.

5.3    LATE FEES.  Licensee shall pay all undisputed invoices within 60 days of
       the date of the invoice.  Where Licensee fails to pay any amount when
       due, Licensor (or the designated 724 Distribution Company as the case may
       be) shall have the right, in addition to any other remedies, to charge,
       and Licensee shall pay, interest on such overdue amounts at the rate of
       [****] per month, compounded monthly ([****] per annum).

5.4    TAXES.

       (a)    In addition to all charges hereunder, Licensee shall pay to
              Licensor (or the designated 724 Distribution Company) all taxes,
              duties, and other such governmental assessments or charges which
              may be assessed, levied or imposed in connection with this license
              of the Licensed Technology, the use of the Services and any other
              charges or services hereunder, except taxes based on 724's income
              and capital.  If Licensee pays any taxes hereunder for which 724
              subsequently receives a refund, 724 shall pay such refund to
              Licensee.

       (b)    Without limiting the generality of the foregoing, all payments by
              Licensee under this Agreement shall be made free and clear of, and
              without deduction for, any and all present or future taxes or
              withholdings imposed on or with respect to such payments, and all
              interest, penalties and other liabilities with respect thereto
              (all such taxes or withholdings being hereinafter referred to as
              "Amounts").  If Licensee is required by law to deduct any such
              Amount from payments or in respect of any sum payable hereunder,
              and remit such Amount to a relevant taxing authority:

              (i)     the sum payable by Licensee to Licensor (or the
                      designated 724 Distribution Company) shall be increased
                      as may be necessary so that after making all required
                      deductions (including deductions applicable to additional
                      sums payable under this Section 5.4(b)(i)), Licensor (or
                      the designated 724 Distribution Company) receives an
                      amount equal to the sum it would have received had no
                      deduction been made;

              (ii)    Licensee shall make such deductions;

              (iii)   Licensee shall pay and remit the full amount deducted to
                      the relevant taxation authority in accordance with
                      applicable law; and

              (iv)    within 30 days after the date of payment or remittance of
                      Amounts to the relevant taxation authority referred to in
                      Section 5.4(b)(iii), Licensee will furnish to Licensor
                      (or the designated 724 Distribution Company) the

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>
                                    - 18 -

                      original or a certified copy of any receipt furnished
                      by the relevant taxing authority evidencing payment
                      thereof.

5.5    CITIBANK LICENSE FEE MINIMUMS.  Citibank or an Affiliate shall pay to
       Licensor certain minimum amounts ("License Fee Minimums") in respect of
       License Fees to be earned (and not necessarily collected) pursuant to
       Licensed Affiliate Agreements entered into by the designated 724
       Distribution Company and Licensed Affiliates.  The License Fee Minimums
       shall be paid to Licensor in accordance with the terms of Exhibit A
       attached hereto.  Licensor and its Affiliates covenant and agree that
       they shall: (i) exert commercially reasonable efforts to enter into
       Licensed Affiliate Agreements; (ii) act in a commercially reasonable
       manner in the negotiation and execution of all Licensed Affiliate
       Agreements, provided that all license fees in respect thereof shall be
       determined by the Parties to the Licensed Affiliate Agreement each in
       their absolute discretion; and (iii) provide the resource requirements
       set forth in Exhibit C.

5.6    CITIBANK CONSULTING SERVICES.  Licensor shall pay to Citibank and
       Citibank shall provide to Licensor and its Affiliates the resources and
       services set out in Exhibit C-1 attached hereto in accordance with the
       terms and conditions set out therein.

                                     ARTICLE VI

                           REPRESENTATIONS AND WARRANTIES

6.1    REPRESENTATIONS AND WARRANTIES OF LICENSOR.  Licensor represents and
       warrants to Licensee as set out in the following Subsections of this
       Section 6.1 and acknowledges that Licensee is relying upon such
       representations and warranties.

       (a)    CORPORATE MATTERS.

              (i)     Licensor is a corporation duly amalgamated, organized,
                      validly existing and in good standing under the laws of
                      the State of Delaware.  No proceedings have been taken or
                      authorized by Licensor or by any other Person with
                      respect to the bankruptcy, insolvency, liquidation,
                      dissolution or winding-up of Licensor or with respect to
                      any merger, consolidation, arrangement or reorganization
                      relating to Licensor.

              (ii)    Licensor and/or its Affiliates have all necessary right
                      and authority to execute and deliver, and to observe and
                      perform its covenants and obligations under, this
                      Agreement.  Licensor has taken all corporate action
                      necessary to authorize the execution and delivery of, and
                      the observance and performance of its covenants and
                      obligations under this Agreement.

              (iii)   This Agreement has been duly executed and delivered by
                      Licensor and constitutes a valid and legally binding
                      obligation of Licensor enforceable against Licensor in
                      accordance with its terms.
<PAGE>
                                    - 19 -

              (iv)    Licensor has all necessary corporate power and authority
                      to own or lease its assets and to carry on its business
                      as now and heretofore carried on.  Licensor has conducted
                      and is conducting its business in compliance with
                      applicable law in all material respects.  Licensor
                      possesses all governmental licenses material to the
                      conduct of its business and the ownership of its assets,
                      such governmental licenses are in full force and effect,
                      are not in default, and there are no proceedings in
                      progress or pending or, to its knowledge, threatened,
                      which may result in revocation, cancellation, suspension
                      or any adverse modification of any of such licenses.

              (v)     None of the execution and delivery of, or the observance
                      and performance by Licensor of any covenant or obligation
                      under this Agreement contravenes or results in, or will
                      contravene or result in, a violation of or a default
                      under (with or without the giving of notice or lapse of
                      time, or both) or in the acceleration of any obligation
                      under any applicable law, under the articles, by-laws,
                      directors' or shareholders' resolutions of Licensor or
                      under any agreement, lease, note, bond, indenture, deed
                      of trust, mortgage, security document, obligation or
                      instrument to which Licensor is a party or by which it is
                      bound.

       (b)    OWNERSHIP.  Licensor and/or its Affiliates either own or license
              the Intellectual Property Rights in the 724 Technology and has the
              right to grant the licenses in Section 2.1 hereof.

       (c)    INFRINGEMENT.  To the knowledge of Licensor there is no:

              (i)     claim of adverse ownership or invalidity or other
                      opposition to or conflict with ownership of the patents,
                      copyright, trade marks or trade secrets forming part of
                      the 724 Technology by Licensor and/or its Affiliates or
                      the manner it is used in respect of the business of
                      Licensor and/or its Affiliates, nor are there any such
                      claims with respect to any other Intellectual Property
                      Right forming part of the 724 Technology; or

              (ii)    pending or threatened suit, proceeding, claim, demand,
                      action or investigation of any nature or kind against
                      Licensor and/or its Affiliates relating to the 724
                      Technology or the manner it is used in respect of its
                      business; or

              (iii)   claim or circumstance of which Licensor and/or its
                      Affiliates has received notice (formal or informal) or is
                      otherwise aware that:

                      (1)   any products, software or services manufactured,
                            produced, used, marketed, licensed or sold by
                            Licensor or its Affiliates; or

                      (2)   any process, method, packaging, advertising, or
                            material that Licensor or its Affiliates employs in
                            the manufacture, production,
<PAGE>
                                    - 20 -

                            use, marketing, licensing or sale of any such
                            product, software or service; or

                      (3)   the use of any of the 724 Technology,

                      breaches, violates, infringes or interferes with any
                      rights of any Person or requires payment for the use of
                      any patent, copyright, trade mark or trade secret,
                      know-how or technology of another Person or any other
                      Intellectual Property Right of any Person.

       (d)    NO CONFLICTING AGREEMENTS.  Licensor or its Affiliates is not
              under and will not assume any contractual or legally enforceable
              obligation that conflicts with its obligations or the rights
              granted in this Agreement.

       (e)    VIRUS WARRANTY.  Licensor warrants that it will use all
              commercially reasonable efforts to ensure that all 724 Technology
              or any material component thereof delivered to Licensee is, at the
              time of shipment to Licensee, free of any known computer software
              viruses.

       (f)    DISABLING DEVICES.  The 724 Technology does not contain any back
              door, time bomb, worm, Trojan horse, software lock, drop-dead
              device or other software routine designed to disable the 724
              Technology or any material component thereof or damage, alter,
              erase, harm or impair access to Licensee's data, systems or
              software.

       (g)    SOFTWARE WARRANTY.  Provided that all System Requirements are
              adhered to by Licensee, Licensor warrants that for a period of
              [****] after the delivery of the Licensed Technology to
              Licensee (the "Warranty Period"), the Software and software
              components of the Licensed Technology, will work in accordance
              with the Specifications set out in Exhibit B in all material
              respects.  Licensee's sole remedy, and Licensor's sole
              liability, for a breach of this warranty not constituting a
              breach of any other warranty or provision of this Agreement, is
              to have Licensor at Licensor's expense promptly correct any
              non-conformities in such software reported during the Warranty
              Period by Licensee to Licensor in accordance with the response
              times set out in Exhibit E.

       (h)    THIRD PARTY MATERIALS.  Licensor and/or its Affiliates has all
              rights necessary to include the Embedded Third Party Materials in
              the Licensed Technology delivered to Licensee hereunder and to
              permit use of such Embedded Third Party Materials by Licensee as
              provided herein.  Licensor and/or its Affiliates has all rights
              necessary to use Non-Embedded Third Party Materials in connection
              with the Licensed Technology delivered to Licensee hereunder.

6.2    REPRESENTATIONS AND WARRANTIES OF CITIBANK.  Citibank represents and
       warrants to Licensor as set out in the following Subsections of this
       Section 6.2 and acknowledges that Licensor is relying upon such
       representations and warranties.

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                     - 21 -

       (a)    Citibank is a corporation duly amalgamated, organized, validly
              existing and in good standing under the laws of Delaware.  No
              proceedings have been taken or authorized by Citibank or by any
              other Person with respect to the bankruptcy, insolvency,
              liquidation, dissolution or winding-up of Citibank or with respect
              to any merger, consolidation, arrangement or reorganization
              relating to Citibank.

       (b)    Citibank and/or its Affiliates have all necessary right and
              authority to execute and deliver, and to observe and perform its
              covenants and obligations under, this Agreement.  Citibank has
              taken all corporate action necessary to authorize the execution
              and delivery of, and the observance and performance of its
              covenants and obligations under this Agreement.

       (c)    This Agreement has been duly executed and delivered by Citibank
              and constitutes a valid and legally binding obligation of Citibank
              enforceable against Citibank in accordance with its terms.

       (d)    Citibank has all necessary corporate power and authority to own or
              lease its assets and to carry on its business as now and
              heretofore carried on.  Citibank has conducted and is conducting
              its business in compliance with applicable law in all material
              respects.  Citibank possesses all governmental licenses material
              to the conduct of its business and the ownership of its assets,
              such governmental licenses are in full force and effect, are not
              in default, and there are no proceedings in progress or pending
              or, to its knowledge, threatened, which may result in revocation,
              cancellation, suspension or any adverse modification of any of
              such licenses.

       (e)    None of the execution and delivery of, or the observance and
              performance by Citibank of any covenant or obligation under this
              Agreement contravenes or results in, or will contravene or result
              in, a violation of or a default under (with or without the giving
              of notice or lapse of time, or both) or in the acceleration of any
              obligation under any applicable law, under the articles, by-laws,
              directors' or shareholders' resolutions of Citibank or under any
              agreement, lease, note, bond, indenture, deed of trust, mortgage,
              security document, obligation or instrument to which Citibank is a
              party or by which it is bound.

6.3    EXCLUSION OF OTHER WARRANTIES.  Except as otherwise expressly stated
       herein, there are no express or implied warranties or conditions in
       relation to any Licensed Technology, documentation, services or products
       that are the subject matter of this Agreement, including any implied
       warranties or conditions of merchantable quality or fitness for a
       particular purpose and those otherwise arising by statute or otherwise in
       law, or from a course of dealing or usage of trade.

6.4    LIMITATION OF LIABILITY.  EXCEPT AS SPECIFICALLY PROVIDED HEREIN, IN NO
       CIRCUMSTANCES SHALL EITHER PARTY BE LIABLE TO THE OTHER FOR LOSS OF
       PROFITS, LOSS OF BUSINESS REVENUE, FAILURE TO REALIZE EXPECTED SAVINGS,
       OTHER COMMERCIAL OR ECONOMIC LOSS OF ANY KIND WHATSOEVER, NOR SHALL
       EITHER PARTY BE LIABLE TO THE OTHER

<PAGE>

                                     - 22 -

       FOR ANY INDIRECT, SPECIAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL
       DAMAGES ARISING OUT OF OR IN ANY WAY RELATED TO THIS AGREEMENT
       INCLUDING IN CONNECTION WITH USE (OR INABILITY TO USE) OR PERFORMANCE
       OF THE LICENSED TECHNOLOGY, DOCUMENTATION, SERVICES OR PRODUCTS THAT
       ARE THE SUBJECT MATTER OF THIS AGREEMENT, EVEN IF ADVISED OF THE
       POSSIBILITY OF SAME AND REGARDLESS OF THE CAUSE OF ACTION (INCLUDING
       BREACH OF CONTRACT, INCLUDING MATERIAL BREACH, AND NEGLIGENCE).

       LICENSOR SHALL NOT BE LIABLE FOR ANY CLAIMS AGAINST LICENSEE BY ANY THIRD
       PARTIES, INCLUDING CUSTOMERS EXCEPT WHERE SUCH CLAIM ARISES OUT OF OR IS
       CAUSED BY THE GROSS NEGLIGENCE, WILLFUL MISCONDUCT OR CRIMINAL ACT OF
       LICENSOR AND/OR ITS AFFILIATES, SUBJECT TO THESE DAMAGES LIMITATIONS.

       LICENSOR DOES NOT WARRANT THAT THE BUSINESS RESULTS OBTAINED FROM THE USE
       OF THE LICENSED TECHNOLOGY WILL BE APPROPRIATE OR ADEQUATE FOR LICENSEE.
       LICENSOR SHALL NOT HAVE ANY LIABILITY WITH RESPECT TO SYSTEM REQUIREMENTS
       AND NON-EMBEDDED THIRD PARTY MATERIALS OTHER THAN AS SPECIFIED IN
       SUBSECTIONS 6.1(H), WHETHER OR NOT SUCH MATERIALS ARE INCLUDED IN THE
       LICENSED TECHNOLOGY.

       THE LIMITATIONS OF LIABILITY SET OUT IN THIS SECTION 6.4, SHALL APPLY TO
       ALL AFFILIATES OF LICENSOR THAT PROVIDE SOFTWARE OR SERVICES PURSUANT TO
       THIS AGREEMENT.

6.5    LIMITATION OF DIRECT DAMAGES.  Except for Sections 6.6, 6.7 and 6.8,
       respectively, the liability of Licensor (and its Affiliates) and Licensee
       hereunder will be limited to direct damages.

       Licensor's and its Affiliates' liability for direct damages, if any,
       whether based on negligence, breach of contract (whether or not a
       material breach), warranty or other legal theory, will not exceed an
       amount equal to:

       (a)    if the liability arises from the Consulting Services performed by
              Licensor or an Affiliate under a Statement of Services, [****];
              and

       (b)    for any other liability, [****] immediately prior to the event
              giving rise to the liability;

       (c)    provided however, Licensee shall not be entitled to claim damages
              under more than one of Sections 6.5(a) and 6.5(b) hereof for any
              given event of liability.

       Licensee's liability for direct damages, if any, whether based on
       negligence, breach of contract (including material breach), warranty or
       other legal theory will not exceed an

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                     - 23 -

       amount equal to [****] immediately prior to the event giving rise
       to liability.

6.6    EXCLUSIONS FROM LIMITATIONS.  The Parties agree that the limitations in
       Sections 6.4 and 6.5 shall not apply to the following:

       (a)    (a)     any claim by Licensor against Licensee for payment of
              license fees, maintenance fees and consulting fees, so long as
              such claims are limited to the amount of the Consulting Fees
              pursuant to Section 3.3, Maintenance Fees pursuant to Section 4.1
              and fees pursuant to Article V other than Section 5.5 due Licensor
              and/or its Affiliates from any Licensee;

       (b)    any claim by Licensor against Citibank for payment of any fees
              payable to Licensor so long as such claims are limited to the
              amount of the fees calculated pursuant to Section 5.5 due Licensor
              and/or its Affiliates from Citibank;

       (c)    any claim by Licensor against Licensee for a breach of Sections
              2.1, 2.3 and/or 2.4 so long as Licensor's financial claim is
              limited to the amount Licensor would have otherwise charged the
              unauthorized third party on whose behalf the Licensed Technology
              is used or copied based on Licensor's then prevailing rates for
              customers of comparable size and circumstances; and

       (d)    any claim under Sections [****], provided that each Party's
              total liability for damages, if any, arising out of a breach
              of Sections [****] (individually) shall not exceed [****].

6.7    INDEMNITY BY LICENSOR.  Notwithstanding the limitations in Sections 6.4
       and 6.5, other than for claims arising out of the gross negligence,
       willful misconduct or criminal act of Licensee, or its agents or
       employees, Licensor and/or 724 Solutions will hold harmless, defend and
       indemnify Licensee and each of its employees, officers, directors and
       agents from and against any claims, lawsuits, or demands of third parties
       that the Licensed Technology infringes any patent, copyright, trade
       secret or trade-mark right of any Person or any breach by Licensor, its
       Affiliates, agents or employees, of Section 3.4 hereof, and Licensor
       and/or 724 Solutions will pay resulting costs, damages and reasonable
       legal fees finally awarded by a court (or related settlement costs),
       provided that:

       (a)    Licensee promptly notifies Licensor in writing of the claim;

       (b)    Licensee co-operates at Licensor and/or 724 Solutions' expense
              with Licensor in the defense of such claim;

       (c)    Licensor (or one or more of its Affiliates) has sole control of
              the defense and all related settlement negotiations provided that
              Licensor and/or its Affiliates conducts the defense or settlement
              negotiations diligently and that any such settlement has no
              material adverse effect on Licensee.  Notwithstanding the

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                     - 24 -

              above, Licensee shall have the right to its own counsel and the
              ability to participate in the defense;

       (d)    Licensee has no authority to settle any claim on behalf of
              Licensor and/or its Affiliates; and

       (e)    in the event of a patent infringement claim, the Licensed
              Technology is a material part of the claim.

       If Licensor does not inform Licensee within ten (10) business days after
       receipt of notice of any such claim of its decision to defend and of the
       identity of counsel retained for the defense, Licensee may retain counsel
       and conduct the defense of the claim as it may in its discretion deem
       proper, at Licensor's or 724 Solution's cost and expense.  In effecting
       the settlement of the claim, Licensee shall act in good faith, shall
       consult with Licensor and shall enter into only such settlement as
       Licensor approves (which approval shall not be unreasonably withheld and
       which shall be implied if Licensor does not respond within ten (10)
       calendar days after Licensee notifies Licensor of the proposed
       settlement).

       If such claim has occurred, or in Licensor's opinion is likely to
       occur, Licensee agrees to permit Licensor at Licensor's option and
       expense, either to procure for Licensee the right to continue using
       the Licensed Technology or to replace or modify the same so that it
       becomes non-infringing without loss of functionality and providing the
       Licensed Technology as replaced or modified remains in compliance with
       Exhibit B. If neither of the foregoing alternatives is available to
       Licensor on reasonable commercial terms, Licensor may terminate this
       Agreement and Licensee's use of the Licensed Technology, provided
       Licensor refunds to Licensee an amount equal to (i) the license fees
       paid by Licensee to Licensor hereunder less (ii) an amount equal to 4%
       of such fees for each month between the date Licensor delivered the
       Licensed Technology and the termination date.

       Licensor shall have no obligation to defend Licensee or to pay costs,
       damages or legal fees for any claim based upon:

              (i)     versions of the Licensed Technology that have been
                      altered or modified solely by Licensee without the
                      assistance of Licensor and/or its Affiliates if such
                      infringement would have been avoided by the use of the
                      unaltered version thereof; or

              (ii)    the combination, operation or use of any Licensed
                      Technology with non-Licensed Technology other than
                      Embedded Third Party Materials if such infringement would
                      have been avoided but for such combination, operation or
                      use; or

              (iii)   use of Customizations developed pursuant to a Statement
                      of Services, unless Licensor makes such Customizations
                      generally available to licensees as provided herein.

<PAGE>

                                     - 25 -

6.8    INDEMNIFICATION BY LICENSEE.  Notwithstanding the limitations in Sections
       6.4 and 6.5, other than (i) for claims arising out of the gross
       negligence, willful misconduct or criminal act of, or any breach of
       Section 3.4 hereof by Licensor and/or its Affiliates, agents or employees
       or (ii) any claims, lawsuits, or demands that the Licensed Technology
       infringes any patent, copyright, trade secret or trade-mark right of any
       Person, Licensee will hold harmless, defend and indemnify Licensor and/or
       its Affiliates, and each of their employees, officers, directors, agents,
       licensees and customers from and against any claims, lawsuits, or demands
       of third parties that directly arise from the use of the Licensed
       Technology, Content or the Licensee Services by Licensee or its
       Customers, or any non-payment of taxes required under Section 5.4 hereof,
       or any breach by Licensee, its agents or employees of Section 3.4 hereof,
       provided that:

       (a)    Licensor and/or its Affiliates provide prompt written notice of
              the claim to Licensee;

       (b)    Licensor and/or its Affiliates co-operates at Licensee's expense
              with Licensee in the defense of such claim;

       (c)    Licensor and/or its Affiliates affords Licensee sole control of
              the defense and all related settlement negotiations, provided
              Licensee conducts the defense or settlement negotiations
              diligently and that any proposed settlement has no material
              adverse effect on Licensor and/or its Affiliates; and

       (d)    Licensor and/or its Affiliates do not attempt to settle any claim
              on behalf of Licensee.

       If Licensee does not inform Licensor within ten (10) business days after
       receipt of notice of any such claim of its decision to defend and of the
       identity of counsel retained for the defense, Licensor may retain counsel
       and conduct the defense of the claim as it may in its discretion deem
       proper, at Licensee's cost and expense.  In effecting the settlement of
       the claim, Licensor shall act in good faith, shall consult with Licensee
       and shall enter into only such settlement as Licensee approves (which
       approval shall not be unreasonably withheld and which shall be implied if
       Licensee does not respond within ten (10) calendar days after Licensor
       notifies Licensee of the proposed settlement).

       The provisions of this Article VI other than Section 6.1 shall remain in
       force and effect after the termination of this Agreement.

                                    ARTICLE VII

                       CONFIDENTIALITY AND NON-SOLICITATION

7.1    CONFIDENTIAL INFORMATION.  Each party who receives Confidential
       Information (referred to in this Section 7.1 as the "Receiving Party") of
       the other Party (referred to in this Section 7.1 as the "Disclosing
       Party") shall hold such Confidential Information in trust and confidence
       for and on behalf of the Disclosing Party and shall not, except as
       expressly authorized hereunder or in writing by the Disclosing Party,
       use, copy or

<PAGE>

                                     - 26 -

       disclose to any third party any Confidential Information so
       received.  Each Receiving Party shall take appropriate action by
       instruction, agreement or otherwise to ensure that its directors,
       officers, employees, consultants and agents are required to keep
       confidential all Confidential Information of the Disclosing Party which
       is disclosed to or comes into the possession of any of them.  The
       Receiving Party agrees to obtain from any independent contractor, agent
       or other Person to whom disclosure of the Disclosing Party's Confidential
       Information is made in carrying out such purposes, a written covenant not
       to further disclose or make use of any of the Disclosing Party's
       Confidential Information in any manner whatsoever.  Licensee agrees it
       will not permit those consultants or agents to have access to
       Confidential Information of Licensor and its Affiliates where such
       parties are Competitors of Licensor and/or its Affiliates.

7.2    NON-SOLICITATION OF EMPLOYEES.  During the term of this Agreement and
       the [****] period thereafter, neither Licensor or its Affiliates nor
       any business group within Licensee that works directly with Licensor
       or its Affiliates (referred to as "OBLIGEE" for the purposes of this
       Section 7.2) nor any of their Affiliates shall either individually or
       in partnership or in conjunction in any way with any person or
       persons, whether as principal, agent, consultant, shareholder,
       guarantor, creditor or in any other manner whatsoever actively solicit
       or endeavor to entice away from the other Obligee or its Affiliates,
       any person employed or retained as a full time consultant by the other
       Obligee or its Affiliates at the date that this Agreement is
       terminated for any reason, or who was so employed or retained at any
       time during the previous one year period or interfere in any way with
       the employment or other relationship between any such person and the
       other Obligee and its Affiliates.  The provisions of this Section 7.2
       shall not apply if any one of the events listed in Section 8.4
       (Business Termination) occurs, and shall not apply to newspaper and
       any other generally available recruiting activities conducted by an
       Obligee provided that the Obligee does not expressly address any such
       recruiting activities at an employee of the other Obligee.

7.3    SECURITY.  Licensor and its Affiliates acknowledge that the Licensed
       Technology will comply with the security policies delivered to
       Licensor on the date hereof (the "Security Standards"), which Security
       Policies may be amended by Citibank from time to time with 90 days
       written notice to Licensor. [****]

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                     - 27 -

7.4    PRIVACY.  Licensor and its Affiliates, in the provision of Consulting
       Services or Maintenance Services, shall comply with Citibank's privacy
       policies delivered to Licensor on the date hereof (the "Privacy
       Policies") which Privacy Policies may be amended by Citibank from time
       to time with 90 days written notice to Licensor.  Furthermore, to
       Licensor's and/or its Affiliates' best knowledge, the Licensed
       Technology, in its normal usage, does not violate such Privacy
       Policies.  [****]  As between Licensor and its Affiliates and
       Licensee, the Parties agree that all Customer data and data related
       thereto is owned by Licensee.

       The provisions of this Article VII shall remain in force and effect after
       the termination of this Agreement.

                                    ARTICLE VIII

                                TERM AND TERMINATION

8.1    TERM.  The term of this Master Technology License Agreement (the "Term")
       shall be five (5) years unless terminated earlier in accordance with the
       provisions of this Agreement.  In the event of such early termination,
       any Licensed Affiliate Agreement, including the provisions of this
       Agreement incorporated therein, shall remain in effect as between the
       Parties to such Licensed Affiliate Agreement.

8.2    TERMINATION FOR NON-PAYMENT.  Provided that Licensor has not materially
       breached any of the provisions of this Agreement, Licensee's failure to
       pay any properly payable amounts due hereunder within sixty (60) written
       days after receipt of written notice from Licensor that such amounts are
       due and owing, shall be a material breach of this Agreement, and, at
       Licensor's option, this Agreement and all licenses hereunder shall
       terminate at any time after such sixty (60) day period.

8.3    TERMINATION FOR DEFAULT.  In addition to any other rights or remedies
       hereunder, either party may terminate this Agreement for any other
       material breach by the other party of this Agreement or any provisions
       hereof not cured within sixty (60) days after receipt of notice from the
       non-defaulting party.

8.4    BUSINESS TERMINATION.  In addition to any other rights or remedies
       hereunder, either Party may terminate this Agreement immediately by
       giving written notice to the other Party where the other Party: (i) makes
       any general assignment for the benefit of creditors or otherwise enters
       into any composition or arrangement with its creditors; (ii) is unable

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                     - 28 -

       to pay its debts as they mature; (iii) has a receiver and/or manager
       appointed over its assets or an application is made to do so; (iv)
       becomes bankrupt or insolvent or commits an act of bankruptcy or takes or
       attempts to take advantage of any law or statute for the relief of
       bankrupt or insolvent debtors; (v) commences or becomes subject to any
       process that might result in its bankruptcy or liquidation; (vi) has a
       resolution or a petition filed or an order made for its winding up; or
       (vii) ceases to carry on business.  Any such occurrence by Licensor shall
       be a Release Condition as defined in the Source Code Escrow Agreement.

8.5    TERMINATION ON CEASING TO BE AN AFFILIATE.  If Licensee ceases to be an
       Affiliate of Citibank, then all rights granted pursuant to this Agreement
       will continue only for a period of twelve (12) months with respect to
       such Licensee.  After such time, all rights granted pursuant to that
       Licensed Affiliate Agreement shall automatically terminate, unless,
       Licensor consents in writing to the assignment of the Licensed Affiliate
       Agreement and the assignee assumes and agrees to be bound by all of the
       provisions of this Agreement as set forth in Section 9.3.  In the event
       of an authorized assignment pursuant to this Section 8.5, the rights
       granted pursuant to the Licensed Affiliate Agreement shall only be used
       by the resulting entity in respect of the type of business and Customers
       of the assignor immediately prior to the authorized assignment.  If the
       assignee wishes to utilize the Licensed Technology for a different type
       of business or Customers, it must obtain its own license for the Licensed
       Technology.

8.6    EFFECT OF TERMINATION.

       (a)    If Licensor terminates this Agreement pursuant to this Article
              VIII, Licensee shall immediately commence procedures to remove
              and cease to use of the Licensed Technology.  Licensee shall
              finally terminate all such use and shall return the Licensed
              Technology and all copies thereof and documentation relating
              thereto, to Licensor no later than 180 days from the date of
              such termination. Notwithstanding, Licensor acknowledges that
              in the event that it terminates this Agreement in accordance
              with the provisions of this Article VIII, then it shall assist
              Licensee to remove the Licensed Technology and Licensee's
              related applications and shall, as is reasonable in the
              circumstances, provide Licensee with a reasonable amount of
              time to effect such removal and return.  A senior officer of
              Licensee shall provide Licensor with a signed certificate
              within 10 days after the termination date attesting that all
              software and materials have been returned to Licensor and that
              Licensee has no such material in its possession or under its
              control.  For greater certainty, termination of this Agreement
              in respect of one Licensee will not result in termination
              against any other Licensee.

       (b)    If Licensee terminates this Agreement in accordance with this
              Article VIII or Section 9.1, then Licensee shall be permitted to
              continue to use the Licensed Technology for a period of nine (9)
              months from the date of notice of such termination.  All of the
              rights and obligations of the parties under this Agreement shall
              continue during such notice period.  Licensee shall, during such
              time, do

<PAGE>

                                     - 29 -

              such acts and things as are reasonably necessary to facilitate
              the termination of use and removal of the Licensed Technology
              within the nine (9) month period.

                                     ARTICLE IX

                                      GENERAL

9.1    EXCUSABLE DELAYS.  Dates and times by which Licensor or Licensee is
       required to render performance (other than dates and times for payment of
       money) hereunder shall be postponed automatically to the extent and for
       the period of time that Licensor or Licensee, as the case may be, is
       prevented from meeting them by reason of any causes beyond its reasonable
       control, provided the Party prevented from rendering performance notifies
       the other Party immediately and in detail of the commencement and nature
       of such a cause, and provided further that such Party uses its reasonable
       efforts to render performance in a timely manner utilizing to such end
       all resources reasonably required in the circumstances, including
       obtaining supplies or services from other sources if same are reasonably
       available.  Notwithstanding the foregoing, if any event beyond the
       reasonable control of Licensor delays the performance of Licensor for
       more than thirty (30) consecutive days, Licensee will be entitled to
       terminate this Agreement and the provisions of Section 8.6(b) shall
       apply.

9.2    NOTICES.  Any notice, consent, determination or other communication
       (herein a "Notice") required or permitted to be given or made hereunder
       shall be in writing and shall be well and sufficiently given or made if:

       (a)    delivered in person during normal business hours on a Business Day
              and left with the addressee at the address set forth below; or

       (b)    sent by any electronic means of sending messages, including
              facsimile transmission, which produces a paper record ("Electronic
              Transmission") during normal business hours on a Business Day,
              charges prepaid and confirmed by prepaid first class mail:

              TO LICENSOR, AT:                   WITH A COPY TO:
              ----------------                   ---------------

              1 Market, Steuart Tower            724 Solutions
              San Francisco, California          4101 Yonge Street,
              94105, USA                         Suite 702
                                                 Toronto, Ontario, Canada

              Facsimile:  (415) 615-0195         Facsimile:  (416) 228-8199
              Attention:  Christopher Erickson,  Attention:  General Counsel
                           Director

<PAGE>

                                     - 30 -

              TO LICENSEE, AT:                   WITH A COPY TO:
              ----------------                   ---------------

              Citibank                           Citibank
              909 Third Avenue                   909 Third Avenue
              New York, New York                 New York, New York
              10043                              10043

              Attention:  Alan Young             Attention:  e-Citi General
                                                 Counsel,
              Facsimile:  212-793-3051           Facsimile:  212-559-4330

              or to such other address or telecopier number to the attention of
              such other individuals as any Party may from time to time notify
              the others in accordance with this Section 9.2.  Any Notice so
              given or made shall be deemed to have been given or made on the
              day of delivery if delivered as aforesaid (with a receipt or date
              stamp) or on the Business Day immediately following the day of
              Electronic Transmission.

9.3    ASSIGNMENT AND INUREMENT.  Licensee may not assign any rights or benefits
       under this Agreement to any Person without the prior written consent of
       Licensor, provided that Licensee may assign this Agreement to the Person
       that purchases or otherwise  acquires all or substantially all of the
       assets of Licensee so long as (i) such purchaser is not a Person whose
       principal business is the commercial development, marketing or licensing
       of commercial products that are competitive with the Licensed Technology,
       (ii) Licensee does not retain any of the Licensed Technology, and (iii)
       the purchaser agrees in writing with Licensor in advance of the
       assignment to assume the obligations under this Agreement and to the
       further restriction that the Licensed Technology will after the
       assignment be used only in respect of the business acquired by the
       purchaser from Licensee and that any further or additional use of the
       Licensed Technology will require the payment of additional license fees.
       If Licensee purchases or otherwise acquires all or substantially all of
       the assets of another Person, the Licensed Technology shall only be used
       by the Licensee in respect of the type of business (and its Customers)
       that was operated by Licensee immediately prior thereto, and such other
       business unit, if it wishes to utilize the Licensed Technology for a
       different type of business, must obtain its own license for the Licensed
       Technology.  Subject to the foregoing, this Agreement shall inure to the
       benefit of and be binding upon the Parties and their respective
       successors and permitted assigns.

9.4    REMEDIES CUMULATIVE.  The rights and remedies of the Parties under this
       Agreement are cumulative and in addition to and not in substitution for
       any rights or remedies provided by law.

9.5    COUNTERPARTS.  This Agreement may be executed and delivered in several
       counterparts and by each of the Parties on the same or separate
       counterparts, each of which when so executed and delivered shall be
       deemed to be an original and such counterparts together shall constitute
       one and the same instrument and shall be effective as of the date hereof.

<PAGE>

                                     - 31 -

9.6    WAIVER OF RIGHTS.  Any waiver of, or consent to depart from, the
       requirements of any provision of this Agreement shall be effective only
       if it is in writing and signed by the Party giving it, and only in the
       specific instance and for the specific purpose for which it has been
       given.  No failure on the part of any Party to exercise, and no delay in
       exercising, any right under this Agreement shall operate as a waiver of
       such right.  No single or partial exercise of any such right shall
       preclude any other or further exercise of such right or the exercise of
       any other right.

9.7    CURRENCY.  Except as otherwise expressly provided in this Agreement, all
       dollar amounts referred to in this Agreement are stated in the lawful
       currency of the United States.

9.8    RELATIONSHIP OF PARTIES.  This is an arms-length agreement between
       separate legal entities and neither is the agent or employee of the other
       for any purpose whatsoever.  The Parties do not intend to create a
       partnership or joint venture between themselves.  Neither Party shall
       have the right to bind the other to any agreement with a Person or to
       incur any obligation or liability on behalf of the other Party.

9.9    DISPUTE RESOLUTION.  The following procedure will be adhered to in all
       disputes arising under this Agreement which the Parties cannot resolve
       informally.  The aggrieved Party shall notify the other Party in writing
       of the nature of the dispute with as much detail as possible about the
       deficient performance of the other Party.  The project managers shall
       meet (in person or by telephone) within seven (7) days after the date of
       the written notification to reach an agreement about the nature of the
       deficiency and the corrective action to be taken by the respective
       Parties.  The project managers shall each produce a report about the
       nature of the dispute in detail to their respective management.  If the
       project managers are unable to agree on corrective action, senior
       managers of the Parties having authority to resolve the dispute without
       the further consent of any other person ("Management") shall meet or
       otherwise act to facilitate an agreement within fourteen (14) days of the
       date of the written notification.  If Management cannot resolve the
       dispute or agree upon a written plan of corrective action to do so within
       seven (7) days after their initial meeting or other action, or if the
       agreed-upon completion dates in the written plan of corrective action are
       exceeded, either Party may request arbitration as provided for in this
       Agreement.  Except as otherwise specifically provided, neither Party
       shall initiate arbitration or other legal action against the other Party
       unless and until this dispute resolution procedure has been employed or
       waived.

9.10   ARBITRATION.  Provided that the Parties have first attempted to resolve
       the dispute pursuant to Section 9.9, either Party may submit any dispute
       between the Parties arising from or relating to this Agreement, including
       any failure to agree on a matter requiring agreement, (but not any
       dispute relating to the ownership of Intellectual Property Rights or the
       improper disclosure or use of the 724 Technology), to arbitration in
       accordance with the Commercial Arbitration Rules of the American
       Arbitration Association ("AAA").  The arbitration will be before a single
       arbitrator selected by the New York office of the AAA.  The arbitration
       shall be in the English language.  The arbitration shall take place in
       Toronto, or in such other city agreed to by Licensor and Licensee.

<PAGE>

                                     - 32 -

9.11   ATTORNEYS FEES.  If a legal action or arbitration proceeding is commenced
       in connection with any dispute under this Agreement, the prevailing
       party, as determined by the final decision of a court or arbitrators from
       which no appeal can be taken, shall be entitled to attorneys' fees
       actually incurred, costs and necessary disbursements incurred in
       connection with such action or proceeding.

TO WITNESS their agreement, the Persons below have duly executed this Agreement
on the date first written above.

724 SOLUTIONS CORP.                    CITICORP STRATEGIC
                                       TECHNOLOGY CORPORATION

By: /s/ C. ERICKSON                    By: /s/ GORDON D. TRECO
    --------------------                   ------------------------

Name: C. ERICKSON                      Name: GORDON D. TRECO

Title: President and Secretary         Title: Vice President

<PAGE>

                                   EXHIBIT A

                             CITIBANK FEE PAYMENTS

                                     Chart

<TABLE>
<CAPTION>
                                                             Minimum
                                                            Worldwide
                                                              Annual
                                                             Licensor
                                                          Revenue to be
                  Worldwide                               Earned during
                   Number            Worldwide             the Previous                Maximum                    Minimum
                  Users of           Number of              Year from               Citibank Fee               Citibank Fee
                  Licensed            Licensed               Licensed                  Payment                    Payment
    Year         Technology          Affiliates             Affiliates *             (annualized)               (annualized)
------------------------------------------------------------------------------------------------------------------------------
<S>              <C>                 <C>                  <C>                       <C>                        <C>
------------------------------------------------------------------------------------------------------------------------------
      2            [****]               [****]                  [****]                [****]
------------------------------------------------------------------------------------------------------------------------------
      3            [****]               [****]                  [****]                [****]                 [****]
------------------------------------------------------------------------------------------------------------------------------
      4            [****]               [****]                  [****]                [****]                 [****]
------------------------------------------------------------------------------------------------------------------------------
      5            [****]               [****]                  [****]                [****]                 [****]
------------------------------------------------------------------------------------------------------------------------------
</TABLE>

       *These numbers refer to all amounts earned by Licensor and its Affiliates
       as determined by United States GAAP regardless of whether such earned
       amounts constitute license fees, maintenance fees or otherwise and
       whether or not collected.  Furthermore, the Minimum Worldwide Annual
       Licensor Revenue Earned from Licensed Affiliates amount is for purposes
       of calculating any Citibank fee due, and not a guarantee or projection of
       actual minimum revenues to be earned by Licensor.

1.  Citibank shall pay to Licensor, during each of the first 5 years during
       which this Master License Agreement remains in effect, fees in the
       amounts calculated as set forth below.

2.  The Citibank Fee Payment for Year 1 shall be [****].  The Citibank
       Fee Payment for each of Years 2 through 5 shall be determined as follows:

       (a)    If at the beginning of the year:

              (i)     the Worldwide Number of Users of Licensed Technology is
                      greater than or equal to the number appearing in Column 1
                      (corresponding to the year in question) of the Chart set
                      forth above (the "Chart"); and

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                      - 2 -

              (ii)    the Worldwide Number of Licensed Affiliates is greater
                      than or equal to the number appearing in Column 2
                      (corresponding to the year in question)of the Chart; and

              (iii)   the Worldwide Annual Licensor Revenue Earned from
                      Licensed Affiliates  during the previous year by Licensor
                      is greater than or equal to the number appearing in
                      Column 3 (corresponding to the year in question) of the
                      Chart

              then the Citibank Fee Payment for that year shall be the number
              appearing in Column 4 (corresponding to the year in question) of
              the Chart.

       (b)    If at the beginning of the year:

              (i)     the Worldwide  Number of Users of Licensed Technology is
                      greater than or equal to the number appearing in Column 1
                      (corresponding to the year in question) of the Chart; and

              (ii)    the Worldwide Number of Licensed Affiliates is greater
                      than or equal to the number appearing in Column 2
                      (corresponding to the year in question) of the Chart; and

              (iii)   the Worldwide Annual Licensor Revenue Earned from
                      Licensed Affiliates during the previous year is less than
                      the number appearing in Column 3 (corresponding to the
                      year in question) of the Chart

              then the Citibank Fee Payment for that year shall be the number
              appearing in Column 4 (corresponding to the year in question) of
              the Chart reduced by one half (1/2) of the amount by which the
              number appearing in Column 3 (corresponding to the year in
              question) of the Chart exceeds the amount of Worldwide Annual
              Licensor Revenue Earned during the previous year.

       (c)    In any other combination of events, the Citibank Fee Payment for
              that year shall be the number appearing in Column 5 (corresponding
              to the year in question) of the Chart.

3. PAYMENT TERMS FOR CITIBANK FEE PAYMENTS.

       (a) Year 1 begins, upon execution of this Master License Agreement, on
       the date first written above.  Commencing thereon, payment for Year 1
       shall be made in quarterly installments of [****].  At the end of each
       quarter of Year 1, Licensor shall provide Citibank with (I) copies of
       each of the Licensed Affiliate Agreements entered into during such
       quarter; and (II) an accounting of the total amount of revenue, whether
       license fees, maintenance fees or otherwise, that Licensor has earned
       from ALL Licensed Affiliates.  No later than thirty (30) days after the
       end of Year 1, Licensor shall refund to Citibank the amount (up to a
       maximum of [****]), if any, by which the total amount of revenue,
       whether license fees, maintenance fees or otherwise, that Licensor has
       earned from ALL Licensed Affiliates during Year 1 exceeds [****],
       plus interest thereon at LIBOR for the last day of Year 1.

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                      - 3 -

       (b) Commencing with Year 2, at the end of each quarter of years 2-5 (but
       on the second to the last day of the quarter with respect to each year's
       fourth quarter), Licensor shall provide Citibank with (I) copies of each
       of the Licensed Affiliate Agreements entered into during such quarter;
       and (II) an accounting of the total amount of revenue, whether license
       fees, maintenance fees or otherwise, that Licensor has earned from ALL
       Licensed Affiliates.  No later than the last day of each of years 2-5,
       Citibank shall pay to Licensor the amount, if any, by which the Worldwide
       Annual Licensor Revenue Earned during such year is less than the annual
       Citibank Fee Payment as calculated pursuant to Section 2 above.

       (c) Computation of Number of Users.  In computing the number of Users for
       the purposes of Citibank Fee Payments, a Customer shall have had access
       to the Licensed Technology and have utilized the Licensed Technology
       through a Licensed Channel at least two times in a particular calendar
       month in order to be considered to be a User.  Furthermore, a Customer of
       a Licensed Affiliate will be deemed to be one User regardless of the
       numbers of services that the Customer receives through the Licensed
       Technology located at the Licensed Affiliate's Designated Site.

<PAGE>

                                     EXHIBIT B

                     FUNCTIONAL AND PERFORMANCE SPECIFICATIONS
                                  OF THE SOFTWARE

The Licensed Technology consists of the 724 Solutions Financial Services
Platform (the "724 FSP").  This Exhibit states the functional and performance
specifications (the "Specifications") of the 724 FSP.

INTRODUCTION.

724 FSP is a software platform which enables financial institutions to
deliver their products and services (including banking, brokerage, [****],
financial services and e-commerce) packaged with other content (including
news, weather, horoscopes, sports, stock portfolio trackers) securely,
remotely and electronically in real time via any device connected to a
network (including the Internet, cable and satellite TV networks, cellular
networks, LANs, wired telephone networks).

724 FSP enables such capability by interfacing with financial institutions'
host and core processing systems through a middleware platform layer running
a common financial exchange protocol (including OFX, or the Integrion GOLD
messaging standard) as well as interfacing with certain content providers
using an agreed protocol (including XML).

724 FSP stores a "persona" for each of the financial institutions' customers
(which for the purposes of this Exhibit shall be referred to as the "User")
which contains their preferences.  The information gathered by 724 FSP on
behalf of the User from the financial institution and the content providers
is then packaged and delivered to the device the User is using at that
particular time via the network to which the User is connected.  724 FSP
packages the information, formats it in a manner that best fits the device
being used by the User (including screen format, menu layering, font size and
device core functionality) and which can be transmitted to the User's device
via the network to which the device is connected (using an appropriate API
and protocol for transmission).

724 FSP enables the User to request certain information or initiate certain
transactions from/with the financial institution or content provider,
converting between formats, protocols and APIs in the process as described
above.

724 FSP can "push" information (including Content) to Users based upon User
configurable criteria (including stock alerts, and [****]), "pull"
information on demand (including balance of account, stock portfolio balance
and transaction journal) or execute transactions and receive confirmation (if
the financial institution sends such confirmation).

The 724 FSP is designed upon the architecture shown in Figure 1 and consists
of the components described below:

Channels:  Customers can use to access the rest of the 724 FSP.

Core Services:  Licensor services that operate the 724 FSP.

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                       - 2 -

Content Services:  Licensor services that manage the retrieval and delivery
of information between the content provider and the Customer.

Content Providers:  Third parties that provide the information and
transactional services.

Network Communications:  Communications languages and protocols supported by
the 724 FSP.

Security:  Policies, controls, procedures and mechanisms for protecting the
privacy and information assets of all Users and content providers with
respect to  the 724 FSP.

CHANNELS.

Channels currently include:  digitally enabled wireless telephones using a
phone.com browser, pc channel, html channel and PalmPilot connected
organizers versions 3.02 OS and higher excluding Palm VII.devices.
Additional channels in the future may include [****].

CORE SERVICES.

The Core Services provide the ability to create a 724 FSP logon and to manage
a User profile.  The Core Services include the following:

1.     724 FSP AppCenter.  The 724 FSP AppCenter provides the Inprise AppCenter
       for managing distributed applications.

2.     Administration Service.  The Administration Service provides the
       capability to manage and store the configuration settings for the 724
       FSP.

3.     Authentication Service.  The Authentication Service provides the
       capability to manage user identifications and passwords for the 724 FSP.
       The Authentication Service will ensure that all 724 FSP passwords comply
       with criteria defined by Licensee or Citibank.

4.     Channel Service.  The Channel Service manages the User's request.

5.     Profile Service.  The Profile Service manages User profiles for
       preferences including watchlists and other third party content.

6.     Protocol Gateway Service.  The Protocol Gateway Service batches and
       routes customer requests and compiles a detailed log entry for each
       request.

7.     Session Service.  The Session Service provides network persistence,
       which allows the selected state to be maintained, based upon specific
       transactions or for a specific time duration.

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                       - 3 -

CONTENT SERVICES

Content Services enable the 724 FSP to deliver information from types of Content
Providers to Users.  The Content Services include the following:

1.     [****]

2.     [****]

3.     [****]

4.     [****]

5.     [****]

6.     [****]

7.     [****]

8.     [****]

FINANCIAL INSTITUTION FUNCTIONALITY.

The 724 FSP provides the interfaces and transport means required to deliver
information from financial institutions to the Client Devices.  The
functionality includes the following 724 Modules:

1.     Banking.  Banking shall include at minimum the following services.
       Accounts - allows the User to create a banking relationship on the 724
       FSP, designate a banking relationship as their main relationship,
       [****].

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                       - 4 -

2.     Brokerage.  Brokerage shall include at minimum the following services.
       [****].

CONTENT FUNCTIONALITY.

The 724 FSP provides the interfaces and transport required to deliver
information from Content Providers to the Client Devices.  The functionality
includes the following:

1.     Notification and Lifestyle Services.  Notification and Lifestyle
       Services may include but are not limited to the following:

2.     [****]

3.     [****]

4.     [****]

5.     [****]

6.     [****]

7.     [****]

8.     [****]

9.     [****]

All Lifestyle Services and information from public stock exchanges shall be
procured solely by Licensee or its Affiliates.

FINANCIAL INSTITUTION AND CONTENT PROVIDER INTERFACES.

1.     Interface to Banking and Brokerage Providers.  The 724 FSP provides an
       interface to Banking, Brokerage, Insurance Financial Services and
       E-commerce providers based upon open industry standards.  In addition
       to other industry standard interfaces, the 724 FSP shall support an
       OFX interface to Banking and Brokerage Content Providers.  This
       interface shall support [****] with the following provisions: i) the
       724 FSP OFX interface does not require crash recovery facilities,
       transaction management, or data synchronization of multiple clients.
       ii) the 724 FSP OFX interface includes several OFX extensions defined
       by Licensor.  These extensions begin with the [****] prefix.  A
       complete

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                       - 5 -

       list of the OFX messages supported by the 724 FSP OFX interface
       is included in Tables 1.1, 1.2, and 1.3.

2.     Interface to Notification Service and Lifestyle Content Providers.  The
       724 FSP supports interfaces to Notification and Lifestyle Content
       Providers based upon open industry standards.

3.     Interface to Client Devices.  The 724 FSP provides the interfaces
       necessary to deliver the Content Provider Services to the Client
       Devices.

SECURITY AND PRIVACY.  In accordance with Sections 7.3 and 7.4, the 724 FSP
will use best efforts to comply with all of the policies, controls and
procedures defined by Citibank's or its Affiliates' Corporate Information
Security Organization and other divisions, from time to time, for protecting
the privacy and information assets of Users.

724 FSP DEPLOYMENT.

System Requirements.  The 724 FSP can be deployed using the System
Requirements specified by Licensor from time to time.  The System
Requirements shall state the number of simultaneous User sessions that can be
supported by the 724 FSP Platform with a particular configuration.

PERFORMANCE SPECIFICATIONS.

The 724 FSP shall be capable of [****].

The 724 FSP shall process data [****].

The 724 FSP shall be readily scaleable to support more Users [****].

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                     - 1 -

                TABLE 1.1 OFX MESSAGE INTERFACE - BANKING & BROKERAGE

(MANDATORY MESSAGES)

 [****]

                    TABLE 1.2 OFX MESSAGE INTERFACE - BANKING

 [****]

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                     - 2 -

                    TABLE 1.3 OFX MESSAGE INTERFACE - BROKERAGE

 [****]

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                 EXHIBIT C

                       RESOURCE COMMITMENTS OF LICENSOR

Licensor and/or 724 Solutions will commit the following resources for the
purpose of assisting the evaluation and implementation of the Licensed
Technology by Citibank and its Affiliates:

       (a)    Client Executive:  A minimum of one fulltime resource will be
              assigned to Citibank with the responsibility to introduce the 724
              Technology to each Affiliates of Citibank interested in licensing
              the 724 Technology and/or is referred to Licensor by Citibank
              officers and employees.  The Client Executive will have access to
              resources from Licensor and its Affiliates that are necessary in
              order for the Affiliate to evaluate the technology and understand
              how the technology will be implemented and add value to their
              specific operation. The Client Executive will commit to providing
              information and/or presentations to support the evaluation
              process in a timely manner.  In addition the Client Executive
              will be responsible for finalizing the Affiliate Agreement and
              thereafter managing the relationship between the Affiliate and
              Licensor and its Affiliates to ensure that the terms of the
              Affiliate Agreement are met.

       (b)    Program Director:  A minimum of one fulltime resource will be
              assigned to Citibank with the responsibility to coordinate and
              manage implementation projects throughout Citibank in a manner
              that leverages the best practices that have been developed from
              one implementation to the next.  The Program Director will have
              access to resources of Licensor and its Affiliates and partners
              necessary to implement the 724 Technology as quickly and
              effectively as possible.

       (c)    VP Customer Services:  The Customer Service organization will be
              staffed to provide necessary support to the Affiliates of
              Citibank with respect to hours of operation and geographic points
              of presence.

       (d)    EVP Field Operations:  On a mutually agreed upon schedule or as
              required basis, the Field Operations EVP and the appropriate
              executives from eCiti will review progress being made with
              respect to number of Affiliates that are implementing the
              Technology as well as the volume of  customers using the
              Technology in each Affiliate and throughout the total
              organization. Areas of improvement will be identified and action
              steps executed to ensure continuous improvement in both the
              numbers of Affiliates and the total volume of Users.

<PAGE>

                                    EXHIBIT C-1

               CITIBANK CONSULTING SERVICES AND PAYMENTS BY LICENSOR

1.     CONSULTING SERVICES TO BE PROVIDED BY CITIBANK.  From the date of
       execution of this Agreement and for one (1) year thereafter, Citibank
       will provide certain consulting services ("Citi Consulting Services") to
       Licensor and its Affiliates including, but not limited to, the
       following:

       (a)    the promotion of the Licensed Technology as the standard wireless
              financial services platform for all Affiliates of Citibank;

       (b)    assistance in the ongoing work between Licensee and its
              Affiliates technical personnel and the Citibank Affiliates
              information technology function for the purpose of facilitating
              adoption and implementation of the Licensed Technology by
              Affiliates of Citibank;

       (c)    advisory services relating to third party technology providers,
              Content providers, device manufacturers and other similar
              services in connection with the implementation of the Licensed
              Technology by Affiliates of Citibank; and

       (d)    advisory services in connection with the negotiation and
              execution of Licensed Affiliate Agreements.

In no event shall Citibank Consulting Services include the development or
conveyance to Licensor of any Intellectual Property Rights.

2.     RESOURCES TO BE PROVIDED BY CITIBANK.  Citibank will provide the
       following resources (Citi Consulting Resources") in order to carry out
       the Citi Consulting Services:

       (a)    As requested by Licensor and/or its Affiliates, subject to a
              maximum of two days per week, the  e-Citi Vice President, Access
              Devices and Distribution Technologies.

       (b)    Vice President level project management resources as requested by
              Licensor and/or its Affiliates, subject to a maximum of 40 man
              hours per week.

       (c)    Director level technical resources as requested by Licensor
              and/or its Affiliates, subject to a maximum of 40 man hours per
              week.

3.     PAYMENT OF FEES FOR CITI CONSULTING SERVICES.  Licensor will pay to
       Citibank an aggregate of $[****], payable $[****] quarterly in
       arrears, plus $[****] for each Licensed Affiliate Agreement executed
       during the first year of the Master Technology License Agreement (the
       Citi Consulting Fee") in consideration for the Citi Consulting Services
       to be provided hereunder.  Citibank shall be required to provide
       quarterly report statements to Licensor setting out the resources
       allocated and projects undertaken during the quarter.  In the event that
       Citibank has not provided the Citi Consulting Services and Citi
       Consulting Resources in

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                       - 2 -

       accordance with Sections 1 and 2 of this Exhibit C-1, then Citibank's
       sole liability shall be to, and Citibank shall, within 30 days of
       the end of such quarter, repay to Licensor the Citi Consulting Fee in
       respect of such quarter.  Such repayment shall be Licensor's sole remedy
       for failure by Citibank to provide the Citi Consulting Services and Citi
       Consulting Resources, and such failure shall not constitute a breach of
       this Master Technology License Agreement by Citibank.

<PAGE>
                                     EXHIBIT D

                        FORM OF SOURCE CODE ESCROW AGREEMENT

                       Account Number ______________________

This Agreement is effective __________________, 1999 among DSI Technology Escrow
Services, Inc. ("DSI"), 724 Solutions Inc. ("Depositor") and Citibank
("Preferred Beneficiary"), who collectively may be referred to in this Agreement
as "the parties."

A.     Depositor and Preferred Beneficiary have entered or will enter into a
license agreement regarding certain proprietary technology (the "Licensed
Technology") of Depositor (referred to in this Agreement as the "License
Agreement").

B.     Depositor desires to avoid disclosure of its proprietary technology
except under certain limited circumstances.

C.     The availability of the proprietary technology of Depositor is important
to Preferred Beneficiary in the conduct of a portion of its business and,
therefore, Preferred Beneficiary needs access to the proprietary technology
under certain limited circumstances.

D.     Depositor and Preferred Beneficiary desire to establish an escrow with
DSI to provide for the retention, administration and controlled access of the
proprietary technology materials of Depositor.

E.     The parties desire this Agreement to be supplementary to the License
Agreement pursuant to 11 United States [Bankruptcy] Code, Section 365(n).

NOW THEREFORE, in consideration of the mutual promises contained herein, the
parties hereto agree as follows:

ARTICLE 1  --  DEPOSITS

1.1    OBLIGATION TO MAKE DEPOSIT.  Within thirty (30) days of the signing of
this Agreement by the parties, Depositor shall deliver to DSI the proprietary
technology and other materials ("Deposit Materials") identified on an Exhibit A.
If Exhibit A is applicable, it is to be prepared and signed by Depositor and
Preferred Beneficiary.  DSI shall have no obligation with respect to the
preparation, signing or delivery of Exhibit A.

1.2    IDENTIFICATION OF TANGIBLE MEDIA.  Prior to the delivery of the Deposit
Materials to DSI, Depositor shall conspicuously label for identification each
document, magnetic tape, disk, or other tangible media upon which the Deposit
Materials are written or stored. Additionally, Depositor shall complete Exhibit
B to this Agreement by listing each such tangible media by the item label
description, the type of media and the quantity.  The Exhibit B must be signed
by
<PAGE>
                                     - 2 -

Depositor and delivered to DSI with the Deposit Materials.  Unless and until
Depositor makes the initial deposit with DSI, DSI shall have no obligation with
respect to this Agreement, except the obligation to notify the parties regarding
the status of the deposit account as required in Section 2.2 below.

1.3    DEPOSIT INSPECTION.  When DSI receives the Deposit Materials and the
Exhibit B, DSI will conduct a deposit inspection by visually matching the
labeling of the tangible media containing the Deposit Materials to the item
descriptions and quantity listed on the Exhibit B.  In addition to the deposit
inspection, Preferred Beneficiary may elect to cause a verification of the
Deposit Materials in accordance with Section 1.6 below.

1.4    ACCEPTANCE OF DEPOSIT.   At completion of the deposit inspection, if DSI
determines that the labeling of the tangible media matches the item descriptions
and quantity on Exhibit B, DSI will date and sign the Exhibit B and mail a copy
thereof to Depositor and Preferred Beneficiary.  If DSI determines that the
labeling does not match the item descriptions or quantity on the Exhibit B, DSI
will (a) note the discrepancies in writing on the Exhibit B; (b) date and sign
the Exhibit B with the exceptions noted; and (c) mail a copy of the Exhibit B to
Depositor and Preferred Beneficiary.  DSI's acceptance of the deposit occurs
upon the signing of the Exhibit B by DSI.  Delivery of the signed Exhibit B to
Preferred Beneficiary is Preferred Beneficiary's  notice that the Deposit
Materials have been received and accepted by DSI.

1.5    DEPOSITOR'S REPRESENTATIONS.  Depositor represents as follows:

       a.     Depositor lawfully possesses or has sufficient rights in all of
the Deposit Materials deposited with DSI;

       b.     With respect to all of the Deposit Materials, Depositor has the
              right and authority to grant to DSI and Preferred Beneficiary the
              rights as provided in this Agreement or in the License Agreement;

       c.     The Deposit Materials consist of the proprietary technology and
              other materials identified either in  the  License Agreement or
              Exhibit A, as the case may be; and

       d.     The Deposit Materials are readable and useable in their current
              form or, if the Deposit Materials are encrypted, the decryption
              tools and decryption keys have also been deposited.

1.6    VERIFICATION.  Preferred Beneficiary shall have the right, at Preferred
Beneficiary's expense, to cause DSI to perform a verification of any Deposit
Materials to verify that the Deposit Materials are executable on the appropriate
computer and are capable of compiling the object code of the Licensed
Technology.  Only DSI may perform the verification and such verification shall
take place either at DSI's site or Depositor's site, and not a Preferred
Beneficiary's site.  Only staff of DSI (and if requested by DSI, staff of
Depositor) shall be in attendance for any such verification.  DSI shall provide
Preferred Beneficiary with a certificate attesting to the results of the
verification process.  The verification right in this Section 1.6 may be
exercised only once in respect of each version of the Deposit Materials.

<PAGE>

                                     - 3 -

1.7    DEPOSIT UPDATES.  Unless otherwise provided by the License Agreement,
Depositor shall update the Deposit Materials within 60 days of delivery to
Preferred Beneficiary of a new Upgrade of the Licensed Technology under the
License Agreement.  Such updates will be added to the existing deposit.  All
deposit updates shall be listed on a new Exhibit B and the new Exhibit B shall
be signed by Depositor.  Each Exhibit B will be held and maintained separately
within the escrow account.  An independent record will be created which will
document the activity for each Exhibit B.  The processing of all deposit updates
shall be in accordance with Sections 1.2 through 1.6 above.  All references in
this Agreement to the Deposit Materials shall include the initial Deposit
Materials and any updates.

1.8    REMOVAL OF DEPOSIT MATERIALS.  The Deposit Materials may be removed
and/or exchanged only on written instructions signed by Depositor and Preferred
Beneficiary, or as otherwise provided in this Agreement.

ARTICLE 2 -- CONFIDENTIALITY AND RECORD KEEPING

2.1    CONFIDENTIALITY.  DSI shall maintain the Deposit Materials in a secure,
environmentally safe, locked facility which is accessible only to authorized
representatives of DSI.  DSI shall have the obligation to reasonably protect the
confidentiality of the Deposit Materials.  Except as provided in this Agreement,
DSI shall not disclose, transfer, make available, or use the Deposit Materials.
DSI shall not disclose the content of this Agreement to any third party.  If DSI
receives a subpoena or other order of a court or other judicial tribunal
pertaining to the disclosure or release of the Deposit Materials, DSI will
immediately notify the parties to this Agreement.  It shall be the
responsibility of Depositor and/or Preferred Beneficiary to challenge any such
order; provided, however, that DSI does not waive its rights to present its
position with respect to any such order.  DSI will not be required to disobey
any court or other judicial tribunal order.  (See Section 7.5 below for notices
of requested orders.)

2.2    STATUS REPORTS.  DSI will issue to Depositor and Preferred Beneficiary a
report profiling the account history at least semi-annually.  DSI may provide
copies of the account history pertaining to this Agreement upon the request of
any party to this Agreement.

2.3    AUDIT RIGHTS.  During the term of this Agreement, Depositor and Preferred
Beneficiary shall each have the right to inspect the written records of DSI
pertaining to this Agreement.  Any inspection shall be held during normal
business hours and following reasonable prior notice.  For greater certainty,
the audit rights in this Section 2.3 do not permit Preferred Beneficiary to have
access to the Deposit Materials.

ARTICLE 3 -- GRANT OF RIGHTS TO DSI

3.1    RIGHT TO MAKE COPIES.  DSI shall have the right to make copies of the
Deposit Materials as reasonably necessary to perform this Agreement.  DSI shall
copy all copyright, nondisclosure, and other proprietary notices and titles
contained on the Deposit Materials onto any copies made

<PAGE>

                                     - 4 -

by DSI.  With all Deposit Materials submitted to DSI, Depositor shall provide
any and all instructions as may be necessary to duplicate the Deposit
Materials including but not limited to the hardware and/or software needed.

3.2    RIGHT TO TRANSFER UPON RELEASE. Depositor hereby grants to DSI the right
to transfer the Deposit Materials to Preferred Beneficiary upon any release of
the Deposit Materials for use by Preferred Beneficiary in accordance with
Section 4.5.  Except upon such a release or as otherwise provided in this
Agreement, DSI shall not transfer the Deposit Materials.

ARTICLE 4 -- RELEASE OF DEPOSIT

4.1    RELEASE CONDITION. As used in this Agreement, "Release Condition" shall
mean any of the following:

       a.     Depositor ceases to carry on its business due to its winding up,
              bankruptcy or liquidation; or

       b.     Depositor is in material breach of its obligations to provide the
              services set out in paragraph (i) under "Performance Levels" in
              Exhibit "F" of the License Agreement in respect of a Level 1
              problem and such breach is not remedied within 30 days after
              written notice of the breach is given to Depositor by Preferred
              Beneficiary; or

       c.     Depositor is in material breach of any of its obligations set out
              in the License Agreement where such breach is explicitly
              identified as a Release Condition and such breach is not remedied
              within 30 days after written notice of the breach is given to
              Depositor by Preferred Beneficiary.

4.2    FILING FOR RELEASE.  If Preferred Beneficiary believes in good faith that
the Release Condition has occurred, Preferred Beneficiary may provide to DSI
written notice of the occurrence of the Release Condition and a request for the
release of the Deposit Materials.  Upon receipt of such notice, DSI shall
provide a copy of the notice to Depositor by the means required under Section
8.2.

4.3    CONTRARY INSTRUCTIONS. Depositor shall have fifteen (15) business days
from the date of receipt of the notice referred to in Section 4.2 to deliver to
DSI Contrary Instructions. "Contrary Instructions" shall mean the written
representation by Depositor that the Release Condition has not occurred or has
been cured.  Upon receipt of Contrary Instructions, DSI shall send a copy to
Preferred Beneficiary by the means required under Section 8.2.  Additionally,
DSI shall notify both Depositor and Preferred Beneficiary that there is a
dispute to be resolved pursuant to the Dispute Resolution section (Section 7.3)
of this Agreement.  Subject to Section 5.2, DSI will continue to store the
Deposit Materials without release pending (a) joint instructions from Depositor
and Preferred Beneficiary; (b) resolution pursuant to the Dispute Resolution
provisions; or (c) order of a court.

<PAGE>

                                     - 5 -

4.4    RELEASE OF DEPOSIT.  If DSI does not receive Contrary Instructions from
the Depositor within the time period specified in Section 4.3, DSI is authorized
to release the Deposit Materials to the Preferred Beneficiary or, if more than
one beneficiary is registered to the deposit, to release a copy of the Deposit
Materials to the Preferred Beneficiary.  However, DSI is entitled to receive any
fees due DSI before making the release.  Any copying expense in excess of $300
will be chargeable to Preferred Beneficiary. DSI's obligations to maintain the
Deposit Materials will terminate upon the release of the Deposit Materials held
by DSI.

4.5    RIGHT TO USE FOLLOWING RELEASE.  Upon release of the Deposit Materials in
accordance with this Article 4:

       a.     Preferred Beneficiary shall have and Depositor hereby grants to
              Preferred Beneficiary a non-exclusive, non-transferable license
              for Preferred Beneficiary to use the Deposit Materials solely at
              the Designated Site and only for the purposes of supporting the
              use by Preferred Beneficiary and its Authorized Affiliates of the
              Licensed Technology in accordance with the License Agreement and
              this Section 4.5.  Any modifications to the Licensed Technology
              developed by the Preferred Beneficiary ("Modifications") as part
              of correcting errors in the Licensed Technology which are compiled
              into binary form by the Preferred Beneficiary or otherwise used in
              a production environment shall be deemed for all purposes to be
              part of the Licensed Technology and shall be used and treated as
              such by Preferred Beneficiary strictly in accordance with the
              License Agreement.  Depositor shall not be responsible for any
              Modifications, or the compatibility of any Licensed Technology,
              equipment or service with such Modifications, or for support or
              maintenance of the Modifications, or for errors caused to the base
              Licensed Technology caused by the Modifications.  Preferred
              Beneficiary acknowledges that the Deposit Materials constitute
              confidential, trade secret and very valuable information of
              Depositor, which information Preferred Beneficiary agrees not to
              access, use or copy other than in accordance with the terms of
              this Article 4.5 and the License Agreement.

       b.     Preferred Beneficiary agrees that the Deposit Materials and the
              Modifications shall be deemed to be Confidential Information of
              Depositor and treated as and included as part of the Licensed
              Technology, and Preferred Beneficiary's obligations and
              Depositor's rights with respect to Confidential Information and
              the Licensed Technology under the License Agreement shall apply in
              all respects to the Deposit Materials and the Modifications except
              as otherwise expressly set out in this Article 4.5.

       c.     Preferred Beneficiary shall:

              i.       use its utmost care to ensure that the persons
                       authorized hereunder to have access to the Deposit
                       Materials keep the Deposit Materials secret and
                       confidential;

<PAGE>

                                     - 6 -

              ii.     not release or make any use of the Deposit Materials
                      available to any person other than to employees and
                      authorized contractors of Preferred Beneficiary working
                      at the Designated Site with a need for access to enable
                      Preferred Beneficiary to exercise its rights under this
                      Article 4.5;

              iii.    instruct all such employees and authorized contractors of
                      Preferred Beneficiary to keep the Deposit Materials
                      confidential and have all such persons execute the form
                      of proprietary rights protection agreement attached
                      hereto as Exhibit D at the time such person is given
                      access to the Deposit Materials;

              iv.     not copy the Deposit Materials other than as reasonably
                      required for the purposes set out in Section 4.5(a);

              v.      inform and provide Depositor with copies of, and all
                      documentation for, all Modifications at the time such
                      Modification is put into production by Preferred
                      Beneficiary;

              vi.     not provide any Competitor of 724 Solutions with access
                      to the Deposit Materials;

              vii.    not use the Deposit Materials to expand the scope of use
                      of the Licensed Technology beyond the Licensed Modules
                      and Licensed Channels referred to in the License
                      Agreement; and

              viii.   not use the Deposit Materials to develop any
                      modifications, enhancements or additions to the Licensed
                      Technology except such as are required to correct errors
                      in the Licensed Technology.

ARTICLE 5 -- TERM AND TERMINATION

5.1    TERM OF AGREEMENT.  The initial term of this Agreement is for a period
of one year.  Thereafter, this Agreement shall automatically renew from
year-to-year unless  (a) Depositor  and Preferred Beneficiary jointly
instruct DSI in writing that the Agreement is terminated; or (b) the
Agreement is terminated by DSI for nonpayment in accordance with Section 5.2;
or (c) the Agreement is terminated pursuant to Section 5.3.  If the Deposit
Materials are subject to another escrow agreement with DSI, DSI reserves the
right, after the initial one year term, to adjust the anniversary date of
this Agreement to match the then prevailing anniversary date of such other
escrow arrangements.

5.2    TERMINATION FOR NONPAYMENT.  In the event of the nonpayment of fees owed
to DSI, DSI shall provide written notice of delinquency to all parties to this
Agreement.  Any party to this Agreement shall have the right to make the payment
to DSI to cure the default.  If the past due payment is not received in full by
DSI within one month of the date of such notice, then DSI shall have the right
to terminate this Agreement at any time thereafter by sending written notice

<PAGE>

                                     - 7 -

of termination to all parties.  DSI shall have no obligation to take any
action under this Agreement so long as any payment due to DSI remains unpaid.

5.3    DISPOSITION OF DEPOSIT MATERIALS UPON TERMINATION. Upon termination of
this Agreement, DSI shall destroy, return, or otherwise deliver the Deposit
Materials in accordance with Depositor's instructions.  If there are no
instructions, DSI may, at its sole discretion, destroy the Deposit Materials or
return them to Depositor.  DSI shall have no obligation to return or destroy the
Deposit Materials if the Deposit Materials are subject to another escrow
agreement with DSI.

5.4    SURVIVAL OF TERMS FOLLOWING TERMINATION.  Upon termination of this
Agreement, the following provisions of this Agreement shall survive:

       a.     The obligations of confidentiality with respect to the Deposit
              Materials;

       b.     The rights granted in the sections entitled Right to Transfer Upon
              Release (Section 3.2) and Right to Use Following Release (Section
              4.5), if a release of the Deposit Materials has occurred prior to
              termination;

       c.     The obligation to pay DSI any fees and expenses due;

       d.     The provisions of Article 7; and

       e.     Any provisions in this Agreement which specifically state they
              survive the termination or expiration of this Agreement.

ARTICLE 6 -- DSI'S FEES

6.1    FEE SCHEDULE.  DSI is entitled to be paid its standard fees and expenses
applicable to the services provided.  Preferred Beneficiary is obligated to pay
all such fees and expenses associated with this Agreement.  DSI shall notify the
Preferred Beneficiary at least 90 days prior to any increase in fees.  For any
service not listed on DSI's standard fee schedule, DSI will provide a quote
prior to rendering the service, if requested.

6.2    PAYMENT TERMS.  DSI shall not be required to perform any service unless
the payment for such service and any outstanding balances owed to DSI are paid
in full by Preferred Beneficiary.  Fees are due upon receipt of a signed
contract or receipt of the Deposit Materials whichever is earliest.  If
invoiced  fees  are not paid, DSI may terminate this Agreement in accordance
with Section 5.2.  Late fees on past due amounts shall accrue interest at the
rate of one and one-half percent per month (18% per annum) from the date of the
invoice.

ARTICLE 7 -- LIABILITY AND DISPUTES

7.1    RIGHT TO RELY ON INSTRUCTIONS.  DSI may act in reliance upon any
instruction, instrument, or signature reasonably believed by DSI to be genuine,
and received from the parties' designated contacts set out in Exhibit C, or if
the designated contact is no longer employed by the party in

<PAGE>

                                      - 8 -

that capacity, a representative of the party of the same or greater title or
authority.  DSI may assume that any written notice, request, or instruction
received from the respective designated contact is authorized by the party
sending it. DSI shall not be responsible for failure to act as a result of
causes beyond the reasonable control of DSI.

7.2    INDEMNIFICATION.  DSI shall be responsible to perform its obligations
under this Agreement and to act in a reasonable and prudent manner with
regard to this escrow arrangement.  Provided DSI has acted in the manner
stated in the preceding sentence, Depositor and Preferred Beneficiary each
agree to indemnify, defend and hold harmless DSI from any and all claims,
actions, damages, arbitration fees and expenses, costs, attorney's fees and
other liabilities incurred by DSI relating in any way to this escrow
arrangement.

7.3    DISPUTE RESOLUTION.  Any dispute relating to or arising from this
Agreement shall be resolved by arbitration under the Commercial Rules of the
American Arbitration Association.  Unless otherwise agreed by Depositor and
Preferred Beneficiary, arbitration will take place in  New York, NY.  Any
court having jurisdiction over the matter may enter judgment on the award of
the arbitrator(s).

7.4    CONTROLLING LAW.  This Agreement is to be governed and construed in
accordance with the laws of the State of New York, without regard to its
conflict of law provisions.

7.5    NOTICE OF REQUESTED ORDER.  If any party intends to obtain an order
from the arbitrator or any court of competent jurisdiction which may direct
DSI to take, or refrain from taking any action, that party shall:

       a.     Give DSI at least two business days' prior notice of the hearing;

       b.     Include in any such order that, as a precondition to DSI's
              obligation, DSI be paid in full by the Preferred Beneficiary for
              any past due fees and be paid for the reasonable value of the
              services to be rendered pursuant to such order; and

       c.     Ensure that DSI not be required to deliver the original (as
              opposed to a copy) of the Deposit Materials if DSI may need to
              retain the original in its possession to fulfill any of its other
              duties.

ARTICLE 8  --  GENERAL PROVISIONS

8.1    ENTIRE AGREEMENT.  This Agreement, which includes the Exhibits
described herein, embodies the entire understanding among the parties with
respect to its subject matter and supersedes all previous communications,
representations or understandings, either oral or written. DSI is not a party
to the License Agreement between Depositor and Preferred Beneficiary and has
no knowledge of any of the terms or provisions of any such License Agreement.
 DSI's only obligations to Depositor or Preferred Beneficiary are as set
forth in this Agreement. No amendment or modification of this Agreement shall
be valid or binding unless signed by all the parties hereto, except that
Exhibit A need not be signed by DSI, Exhibit B need not be signed by
Preferred Beneficiary and Exhibit C need not be signed.

<PAGE>

                                      - 9 -

8.2    NOTICES.  All notices, invoices, payments, deposits and other
documents and communications shall be given to the parties at the addresses
specified in the attached Exhibit C.  It shall be the responsibility of the
parties to notify each other as provided in this Section in the event of a
change of address. The parties shall have the right to rely on the last known
address of the other parties.  Unless otherwise provided in this Agreement,
all notices under Article 4 or related to Section 7.3 shall be delivered by
overnight courier delivery by a nationally recognized courier company
(currently including Federal Express and UPS).

8.3    SEVERABILITY.  In the event any provision of this Agreement is found
to be invalid, voidable or unenforceable, the parties agree that unless it
materially affects the entire intent and purpose of this Agreement, such
invalidity, voidability or unenforceability shall affect neither the validity
of this Agreement nor the remaining provisions herein, and the provision in
question shall be deemed to be replaced with a valid and enforceable
provision most closely reflecting the intent and purpose of the original
provision.

8.4    NON-ASSIGNMENT.  DSI shall not be entitled to assign this Agreement
without the prior written consent of Depositor and Preferred Beneficiary.
Preferred Beneficiary may not assign this Agreement without the prior written
consent of Depositor and DSI, provided that Preferred Beneficiary, without
such consent, may assign this Agreement to an entity to whom Preferred
Beneficiary is permitted to assign its rights under the License Agreement in
accordance with the terms of the License Agreement.  This Agreement shall be
binding upon and shall inure to the benefit of the successors and permitted
assigns of the parties.  However, DSI shall have no obligation in performing
this Agreement to recognize any successor or assign of Depositor or Preferred
Beneficiary unless DSI receives clear, authoritative and conclusive written
evidence of the change of parties.

8.5    DEFINITIONS.   Capitalized terms not otherwise defined herein shall be
given the meaning ascribed to them in the License Agreement.

8.6    REGULATIONS. Depositor and Preferred Beneficiary are responsible for
and warrant compliance with all applicable laws, rules and regulations,
including but not limited to customs laws, import, export, and re-export laws
and government regulations of any country from or to which the Deposit
Materials may be delivered in accordance with the provisions of this
Agreement.

724 Solutions Inc.
Depositor                          Preferred Beneficiary
By:____________________________    By:____________________________

Name:__________________________    Name:__________________________

Title:_________________________    Title:_________________________

Date:__________________________    Date:__________________________

<PAGE>

                                      - 10 -

              DSI Technology Escrow Services, Inc.

              By:_____________________________________________

              Name:___________________________________________

              Title:__________________________________________

              Date:___________________________________________

<PAGE>

                                      - 11 -

                                   EXHIBIT A
                  TO THE FORM OF SOURCE CODE ESCROW AGREEMENT

                           MATERIALS TO BE DEPOSITED

                     Account Number ______________________

Depositor represents to Preferred Beneficiary that Deposit Materials
delivered to DSI shall consist of the following:

[describe Source Code; exclusive of source code for Third Party Materials; list
tools, development environment, custom libraries, dll's etc.]

724 Solutions Inc.
Depositor                          Preferred Beneficiary

By:____________________________    By:____________________________

Name:__________________________    Name:__________________________

Title:_________________________    Title:_________________________

Date:__________________________    Date:__________________________

<PAGE>

                                      - 12 -

                                   EXHIBIT B
                  TO THE FORM OF SOURCE CODE ESCROW AGREEMENT

                        DESCRIPTION OF DEPOSIT MATERIALS

Depositor Company Name________________________________________________________

Account Number________________________________________________________________

Product Name____________________________________Version_______________________
(PRODUCT NAME WILL APPEAR ON ACCOUNT HISTORY REPORT)

DEPOSIT MATERIAL DESCRIPTION:
<TABLE>
<CAPTION>
Quantity      Media Type & Size                  Label Description of Each Separate Item
                                          (PLEASE USE OTHER SIDE IF ADDITIONAL SPACE IS NEEDED)
<S>           <C>                         <C>
________      Disk 3.5" or ____

________      DAT tape ____mm

________      CD-ROM

________      Data cartridge tape ____

________      TK 70 or ____ tape

________      Magnetic tape ____

________      Documentation

________      Other ____________________
</TABLE>

PRODUCT DESCRIPTION:
Operating System______________________________________________________________
Hardware Platform_____________________________________________________________

DEPOSIT COPYING INFORMATION:
Is the media encrypted?  Yes / No   If yes, please include any passwords and the
decryption tools.
Encryption tool name___________________________________ Version_______________

Hardware required_____________________________________________________________
Software required_____________________________________________________________

I certify for DEPOSITOR that the       DSI has inspected and accepted the above
above described Deposit Materials      materials (ANY EXCEPTIONS ARE NOTED
have been transmitted to DSI:          ABOVE):

Signature________________________      Signature________________________
Print Name_______________________      Print Name_______________________
Date_____________________________      Date Accepted____________________
                                       Exhibit B#_______________________

Send materials to: DSI, 9265 Sky Park Court, #202, San Diego, CA 92123
(858) 499-1600

<PAGE>

                                     - 13 -

                                     EXHIBIT C
                    TO THE FORM OF SOURCE CODE ESCROW AGREEMENT

                                 DESIGNATED CONTACT

                       Account Number ______________________

 Notices, deposit material returns and
 communications to Depositor
 should be addressed to:

 Company Name: _______________________
 Address:_____________________________
         _____________________________
         _____________________________
 Designated Contact:__________________
 Telephone:___________________________
 Facsimile:___________________________

 Notices and communications to           Invoices to Preferred Beneficiary
 Preferred Beneficiary should be         should be addressed to:
 addressed to:

 Company Name:________________________   ____________________________________
 Address:_____________________________   ____________________________________
         _____________________________   ____________________________________
         _____________________________   ____________________________________
 Designated Contact:__________________   Designated Contact:_________________
 Telephone:___________________________   ____________________________________
 Facsimile:___________________________   P.O.#, IF REQUIRED:_________________

Notices from Depositor or Preferred Beneficiary to change its respective
designated contact must be given in writing to all the other parties by the
designated contact or an authorized employee of Depositor or Preferred
Beneficiary.

 Contracts, Deposit Materials and        Invoice inquiries and fee remittances
 notices to                              to DSI should be addressed to:
 DSI should be addressed to:

 DSI                                     DSI
 Contract Administration                 Accounts Receivable
 Suite 202                               Suite 1450
 9265 Sky Park Court                     425 California Street
 San Diego, CA 92123                     San Francisco, CA 94104

 Telephone:  (858) 499-1600              (415) 398-7900
 Facsimile:    (858) 694-1919            (415) 398-7914

 Date:________________________________

<PAGE>

                                      EXHIBIT E

                     SOFTWARE MAINTENANCE AND SUPPORT SERVICES

                              ("Maintenance Services")

Licensor (or the designated 724 Distribution Company) will provide the following
"Maintenance Services" in connection with the maintenance and support of the
most recent version the software within the Licensed Technology and the most
recent prior Major Release:

       (a)    UPDATES:  Licensor shall provide Updates and Upgrades to the
              Licensed Technology whenever Licensor and/or its Affiliates
              provides them to its other customers generally or, with respect to
              a Customization, to a Licensee.

       (b)    TELEPHONE SUPPORT:  Licensor or an Affiliate (the "Support
              Services Provider") will maintain a "Service Desk" to provide
              Licensee with a single point of contact for all questions and
              problems regarding the Licensed Technology, and the repair of any
              errors in the Licensed Technology.

       (c)    LICENSEE REQUESTS TO REPAIR ERRORS:  Support Services Provider
              will review requests to repair errors in the Licensed Technology
              at no charge to Licensee.  If it is determined that such request
              is a request for an improvement, then the request will be treated
              as a request for Consulting Services. If however such request is a
              request to fix an error, then Support Services Provider shall
              repair such error in accordance with the terms of this Schedule at
              no additional charge to Licensee.

       (d)    SINGLE POINT OF CONTACT:  At Licensee's request, Support Services
              Provider will assign (or will cause an Affiliate to assign) to
              Licensee a product expert, on a billable basis in accordance with
              the terms hereof, to provide a single point of contact for
              Licensee for the purposes of technical support issues relating to
              the Licensed Technology.

Licensor shall offer and make available to Licensee each production version
of the Licensed Technology and any customizations, modifications or
enhancements as it is released generally.  Licensor reserves the right not to
support any version of the Licensed Technology that is older than the most
recent prior production version of the Licensed Technology or any
customizations, modifications or enhancements made by any Person other than
Support Services Provider (or its authorized agents or subcontractors)
provided that Licensor or its Affiliates will support each version of the
Licensed Technology for at least [****] after it is delivered to Licensee.
Notwithstanding the foregoing, Licensor and/or its Affiliate will continue to
satisfy its maintenance obligations hereunder whether or not Licensee chooses
to adopt any particular Non-Embedded Third Party Materials.

SERVICE DESK

       (a)    LOCATION:  Support Services Provider will establish and maintain a
              Service Desk at its offices (or as determined by Licensor from
              time to time).

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>

                                     - 2 -

       (b)    BASIC SERVICES:  Support Services Provider will provide the
              following basic Service Desk services:

                      (i)   call and electronic mail answering and dispatch;

                      (ii)  problem management including trouble ticketing and
                            call logging;

                      (iii) problem resolution; and

                      (iv)  maintenance of website providing electronic support
                            via the Internet.

       (c)    SERVICE HOURS:  The 724 Service Desk will be available to receive
              calls from Licensee during normal business hours in any
              jurisdiction receiving Licensed Technology, during Business Days
              ("Normal Service Hours").  Beeper support by a single 724
              Solutions staff member will be available from 5:00 p.m. to 8:00
              p.m. (Toronto Time) ("Extended Service Hours"), provided however
              that response times shall be double that of response times during
              Normal Service Hours.  Normal Service Hours and Extended Service
              Hours are referred to as "Service Hours".

       (d)    ON-SITE SUPPORT:  Support Services Provider will provide on-site
              support services for Licensee:

              (i)     for any Level 1 Priority failure (as defined below) in
                      the event that Support Services Provider cannot correct a
                      failure of the Licensed Technology by telephone or
                      electronically; and

              (ii)    if Licensee otherwise requests on-site support, Support
                      Services Provider, shall provide the support.

              provided, however, that Licensee shall:

              (iii)   reimburse Support Services Provider for reasonable travel
                      expenses incurred by Support Services Provider and
                      approved by Licensee in advance on an actual cost basis,
                      including transportation, living and communications
                      costs, which fees and costs shall be paid by Licensee
                      within 45 days of receipt of an invoice accompanied by
                      supporting documentation including receipts from Support
                      Services Provider for such amounts in connection with
                      such on-site service and all applicable taxes, duties and
                      similar charges which are not recoverable by way of
                      credit, refund, rebate, offset or other reimbursement;
                      and

              (iv)    if it is determined that the problem was not caused
                      solely by failure of the Licensed Technology, reimburse
                      Support Services Provider for all labour costs, at
                      Support Services Provider's normal Consulting Services
                      rates.

<PAGE>

                                     - 3 -

SERVICE DESK PROCEDURES AND CORRECTION OF ERRORS

       (a)    RESPONSE TIME FOR SERVICE DESK:  For all Licensee calls reported
              during Service Hours, a Customer Service Representative of Support
              Services Provider shall determine if the question can be answered
              or problem resolved immediately over the telephone; however, if
              this is not possible, the Customer Service Representative will:

              (i)     assign the priority code (listed below under "Priority
                      Codes") to the call that Licensee requests; and

              (ii)    attend to each service call in the order of the priority
                      codes and date of receipt of the call.

       (b)    EMERGENCY PROCEDURES AFTER SERVICE HOURS:  In the case of an
              emergency after Service Hours, Licensee shall first attempt to
              reach the Customer Service Representative of Support Services
              Provider assigned to Licensee and failing this, Licensee may
              contact the persons listed on Support Services Provider's then-
              current emergency contact list.  Support Services Provider will
              deliver the emergency contact list to Licensee's contact person
              promptly after the date of this Agreement and after making any
              change to the list, but in no case less frequently than
              semi-annually.

PRIORITY CODES

The level of service and order of priority shall be determined by the priority
codes assigned by Licensee.  If 724 receives a telephone support call for a
lower priority service request, service for such item will be scheduled after
all higher priority service calls have been addressed.

For the purposes of this Section entitled "Priority Codes":

       (a)    "Core Services" means any material function of that part of the
              Licensed Technology which does not reside on a client device
              (including PC, wireless telephone, set top box, etc.), and which,
              if such function became Unavailable (as defined below), would
              cause all, or substantially all of the Secondary Services (as
              defined below), to be Unavailable;

       (b)    "Secondary Services" means any material function of the Licensed
              Technology that provides a Customer of Licensee with access to a
              group of host services (including services like news, quotes,
              weather, horoscopes, etc., and client device software such as PC,
              wireless telephone, set top box, etc.) offered by Licensee to its
              Customers.

       (c)    "Unavailable" means that all, or substantially all of, the
              material functionality of either a Core Service or a Secondary
              Service, as the case may be, is unavailable to Licensee and/or
              Customers, or is so severely hampered that regular processing
              cannot take place.

<PAGE>

                                     - 4 -

The priority codes that may be assigned to a call are:

       (i)    LEVEL 1:  An error, defect or problem that has caused either (i)
              one or more Core Services to be Unavailable, (ii) two or more
              Secondary Services to be Unavailable; or a security issue that
              materially affects the integrity of any Core Services or Secondary
              Services, or (iii) a material number of Customers are unable to
              access information over a Licensed Channel.

       (ii)   LEVEL 2:  An error, defect or problem has only caused a Secondary
              Service to be Unavailable; or a security issue that does not
              qualify as a Level 1 priority.

       (iii)  LEVEL 3:  An error, defect or problem that does not qualify as
              either a Level 1 or Level 2 priority.

PERFORMANCE LEVELS

Licensor agrees to respond to each service call as follows:

       (i)    LEVEL 1: Support Services Provider will assign an Incident
              Manager and respond to Licensee within [****], and use its
              commercially reasonable efforts, working diligently, to repair
              the error, defect or problem within [****] from receipt of the
              service call.  If such error, defect or problem is not resolved
              within [****] of receipt or is not likely to be resolved within
              [****] of receipt, Support Services Provider's qualified staff
              will work with Licensee personnel continuously, either at
              Support Services Provider's location, or, at Licensee's
              request, at any Licensee location.  Reasonable travel,
              accommodation and living expenses (having regard to the urgency
              and short time frames) will be the responsibility of Licensee
              if travel is requested by Licensee.

       (ii)   LEVEL 2:  Support Services Provider will assign an Incident
              Manager and respond to Licensee within [****], and use its
              commercially reasonable efforts, working diligently during
              Service Hours, to repair the error, defect or problem.  At
              Licensee's request, and subject to availability of Support
              Services Provider's resources, Support Services Provider will
              dispatch one or more resources to the location designated by
              Licensee in order to resolve the matter.  Reasonable travel,
              accommodation and living expenses (having regard to the urgency
              and short time frames) will be the responsibility of Licensee.

       (iii)  LEVEL 3:  Support Services Provider will respond within [****]
              and to the extent technically possible, repair same within
              [****] days or, at the option of Support Services Provider, with
              the next major release of the Licensed Technology, provided
              that same does not turn into a Level 1 or Level 2 error.

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>
                                     - 5 -

ESCALATION PROCEDURE

       (a)    SETTING PRIORITY CODES:

              (i)     As provided in paragraph (a)(i) of the Section entitled
                      "Service Desk Procedures and Correction of Errors",
                      [****] and Support Services Provider shall handle the
                      call on the basis of that priority code.

              (ii)    After the services are provided, [****] Support
                      Services Provider's Vice-President in charge of
                      Maintenance and Support Services may so inform
                      Licensee's contact person in writing, explaining, by
                      reference to the definition in the Section entitled
                      "Priority Code", why the facts of the call did not
                      correspond to the priority code Licensee assigned.
                      Support Services Provider may then invoice Licensee at
                      the time and materials rates (as set out in Schedule B
                      to the Licensed Affiliate Agreement) for Services
                      rendered in connection with such call.

       Support Services Provider will responded promptly to all such requests
for escalations.

EXCLUSIONS

Maintenance Services will only be included with Consulting Services as set out
in the Statement of Services and as otherwise specified in Section 3.10 to this
Agreement.

[****] REPRESENTS MATERIAL WHICH HAS BEEN REDACTED AND SEPARATELY FILED WITH
THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT PURSUANT TO
RULE 406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

<PAGE>
                                     EXHIBIT F

                            LICENSED AFFILIATE AGREEMENT

       THIS AGREEMENT is made the ________ day of ______________, 2000

B E T W E E N:

              _______________________________________________________________

              _______________________________________________________________

              _______________________________________________________________

              ("DESIGNATED LICENSOR")

                                   - AND -

              _______________________________________________________________

              _______________________________________________________________

              _______________________________________________________________

              ("CITIBANK AFFILIATE")

BACKGROUND:

1.     724 Solutions Corp. (the "Licensor") has entered into a Master Technology
       License Agreement including Exhibits thereto (the "Master Agreement")
       with  Citicorp Strategic Technology Corporation, ("Citibank") dated
       December 29, 1999 pursuant to which Licensor has agreed to license or to
       direct one of its Affiliates offer to license the Licensed Technology and
       provide or arrange for the provision of other services to Citibank or
       Affiliates of Citibank that execute a Licensed Affiliate Agreement; and

2.     Citibank Affiliate is an Affiliate of Citibank which wishes to license
       the Licensed Technology.

IN CONSIDERATION of the promises, the mutual covenants contained herein and
other good and valuable consideration, (the receipt and sufficiency of which are
hereby acknowledged), the parties hereto agree as follows:

1.     DEFINITIONS.  In this Agreement, capitalized words not otherwise defined
herein shall be given the meaning ascribed to them in the Master Agreement.

2.     STRUCTURE.  This Licensed Affiliate Agreement (and the Schedules attached
hereto) is a separate agreement that exists between the Parties hereto, the
terms of which consist exclusively
<PAGE>
                                     - 2 -

of the terms and conditions of the Master Agreement specified therein as are
applicable to Licensees (other than those specifically excluded below, those
additional or amending terms set forth below and the Schedules, if any,
attached hereto). All references in the Master Agreement to Schedules
attached to a Licensed Affiliate Agreement, if any, shall be interpreted as
references to the Schedules attached to this Licensed Affiliate Agreement.
In the event there is any inconsistency between the terms of this Licensed
Affiliate Agreement and the terms of the Master Agreement, the terms of this
Licensed Affiliate Agreement shall prevail to the extent of any such
inconsistency.

3.     LICENSED TECHNOLOGY

       (a)    LICENSED MODULES

       (b)    DELIVERY DATE FOR LICENSED TECHNOLOGY

       (c)    DESIGNATED SITE

4.     TERM

5.     LICENSE FEES

6.     MAINTENANCE FEES

7.     ADDRESS FOR SERVICE.  The address for service of each of the parties is
as follows:

       ___________________________

       ___________________________

       ___________________________

       Facsimile:
       Attention:

TO WITNESS their agreement, the Parties have duly executed this Agreement on the
date first written above.

[DESIGNATED LICENSOR]                     [CITIBANK AFFILIATE]

By:__________________________                    By:___________________________

Name:                                            Name:

Title:                                           Title

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