Document:

<PAGE>

                                                                    EXHIBIT 10.1

                                                                  EXECUTION COPY

                               U.S. $3,500,000,000

                    364-DAY AUCTION BID ADVANCE AND REVOLVING
                            CREDIT FACILITY AGREEMENT

                            Dated as of May 25, 2001

                                      Among

                        CREDIT SUISSE FIRST BOSTON, INC.,

                                       and

                     CREDIT SUISSE FIRST BOSTON (USA), INC.

                                  as Borrowers,

                                       and

                             THE BANKS NAMED HEREIN,

                                    as Banks,

                                       and

                            THE CHASE MANHATTAN BANK,

                            as Administrative Agent,

                                       and

                              THE BANK OF NEW YORK,
                       BANK ONE, NA (MAIN OFFICE CHICAGO),
                               CITIBANK, N.A. and
         DEUTSCHE BANK AG, New York Branch and/or Cayman Islands Branch,

                              as Syndication Agents

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

                          J.P. MORGAN SECURITIES INC.,
               as Sole Arranger, Sole Advisor and Sole Bookrunner
<PAGE>

                          T A B L E  O F  C O N T E N T S

                                                                            Page
                                                                            ----

                                    ARTICLE I

                        DEFINITIONS AND ACCOUNTING TERMS

SECTION 1.01.  Certain Defined Terms...........................................1
SECTION 1.02.  Computation of Time Periods....................................11
SECTION 1.03.  Accounting Terms...............................................12

                                   ARTICLE II

                        AMOUNTS AND TERMS OF THE ADVANCES

SECTION 2.01.  The Advances...................................................12
SECTION 2.02.  Revolving Credit and Swing Line Borrowing Procedures...........17
SECTION 2.03.  General Provisions Relating to Advances........................18
SECTION 2.04.  Fees...........................................................19
SECTION 2.05.  Termination or Reduction of the Facility.......................19
SECTION 2.06.  Repayment of Advances..........................................20
SECTION 2.07.  Interest.......................................................21
SECTION 2.08.  Additional Interest on Eurodollar Rate Advances................22
SECTION 2.09.  Interest Rate Determination....................................22
SECTION 2.10.  Prepayments....................................................22
SECTION 2.11.  Increased Costs................................................22
SECTION 2.12.  Illegality.....................................................23
SECTION 2.13.  Payments and Computations......................................24
SECTION 2.14.  Taxes..........................................................25
SECTION 2.15.  Sharing of Payments, Etc.......................................27
SECTION 2.16.  Substitution of Lenders........................................27
SECTION 2.17.  Use of Proceeds................................................28
SECTION 2.18.  Extension of Termination Date and Maturity Date................28
SECTION 2.19.  Conversion and Continuation of Revolving Credit Borrowings.....29

                                   ARTICLE III

                              CONDITIONS OF LENDING

SECTION 3.01.  Conditions of Effectiveness....................................30
SECTION 3.02.  Conditions Precedent to Each Borrowing.........................31

                                   ARTICLE IV

                         REPRESENTATIONS AND WARRANTIES

SECTION 4.01.  Representations and Warranties of the Borrowers................32

                                       i
<PAGE>

                                                                            Page
                                                                            ----

                                    ARTICLE V

                           COVENANTS OF THE BORROWERS

SECTION 5.01.  Affirmative Covenants..........................................34
SECTION 5.02.  Negative Covenants.............................................38

                                   ARTICLE VI

                                EVENTS OF DEFAULT

SECTION 6.01.  Events of Default..............................................40

                                   ARTICLE VII

                            THE ADMINISTRATIVE AGENT

                                  ARTICLE VIII

                                  MISCELLANEOUS

SECTION 8.01.  Amendments, Etc................................................45
SECTION 8.02.  Notices, Etc...................................................45
SECTION 8.03.  No Waiver; Remedies............................................45
SECTION 8.04.  Costs, Expenses and Taxes......................................46
SECTION 8.05.  Right of Set-Off...............................................47
SECTION 8.06.  Binding Effect.................................................47
SECTION 8.07.  Assignments and Participations.................................47
SECTION 8.08.  Confidentiality................................................50
SECTION 8.09.  Parity.........................................................51
SECTION 8.10.  Survival.......................................................51
SECTION 8.11.  Governing Law..................................................51
SECTION 8.12.  Execution in Counterparts......................................51
SECTION 8.13.  Currency Indemnity.............................................51
SECTION 8.14.  Waiver Under Existing Credit Agreements........................52
SECTION 8.15.  WAIVER OF JURY TRIAL...........................................52
SECTION 8.16.  Jurisdiction; Consent To Service of Process....................52

                                      ii
<PAGE>

                             SCHEDULES AND EXHIBITS

Schedule 1      Lending Offices
Schedule 2.01   Lenders and Commitments
Exhibit A-1     Auction Bid Request
Exhibit A-2     Notice of Auction Bid Request
Exhibit A-3     Auction Bid
Exhibit A-4     Auction Bid Accept Letter
Exhibit B-1     Revolving Credit Borrowing Request
Exhibit B-2     Swing Line Borrowing Request
Exhibit C       Request of Extension
Exhibit D-1     Opinion of Cleary, Gottlieb, Steen & Hamilton
Exhibit D-2     Opinion of Joseph T. McLaughlin, Esq., General Counsel of the
                Borrowers
Exhibit D-3     Opinion of Niederer Kraft & Frey
Exhibit E       Assignment and Acceptance
Exhibit F       Guarantee Agreement

                                       iii
<PAGE>

                           U.S. $3,500,000,000 364-DAY
                        AUCTION BID ADVANCE AND REVOLVING
                            CREDIT FACILITY AGREEMENT
                            DATED AS OF MAY 25, 2001

                  CREDIT SUISSE FIRST BOSTON, INC., a Delaware corporation
("CSFB Inc."), CREDIT SUISSE FIRST BOSTON (USA), INC., a Delaware corporation
("CSFB (USA)" and, together with CSFB Inc., the "Borrowers"), the banks (the
"Banks") listed on Schedule 2.01 hereof, THE CHASE MANHATTAN BANK ("Chase"), as
administrative agent for the Lenders and the Swing Line Banks hereunder (the
"Administrative Agent") and THE BANK OF NEW YORK, BANK ONE, NA (MAIN OFFICE
CHICAGO), CITIBANK, N.A. and DEUTSCHE BANK AG, New York Branch and/or Cayman
Islands Branch, as syndication agents (collectively, the "Syndication Agents"),
agree as follows:

                                    ARTICLE I

                        DEFINITIONS AND ACCOUNTING TERMS

                  SECTION 1.01. CERTAIN DEFINED TERMS. As used in this
Agreement, the following terms shall have the following meanings (such meanings
to be equally applicable to both the singular and plural forms of the terms
defined):

                  "ADVANCE" means an advance by a Lender to a Borrower pursuant
         to Section 2.01 and shall include Revolving Credit Advances, Swing Line
         Advances and Auction Bid Advances.

                  "AFFILIATE" means, as to any Person, any other Person that,
         directly or indirectly, Controls, is Controlled by or is under common
         Control with such Person or is a director or officer of such Person.

                  "AGGREGATE DEBIT ITEMS" means all those items listed as debit
         items in Exhibit A to Rule 15c3-3, adopted by the Commission under the
         Securities Exchange Act of 1934, as amended from time to time.

                  "APPLICABLE LENDING OFFICE" means, with respect to each
         Lender, such Lender's Domestic Lending Office in the case of a Base
         Rate Advance and such Lender's Eurodollar Lending Office in the case of
         a Eurodollar Rate Advance.

                  "APPLICABLE RATE" means, for any day, with respect to any
         Eurodollar Rate Advance, or with respect to the facility fees or
         utilization fees payable hereunder, as the case may be, the applicable
         rate per annum set forth below under the caption "Eurodollar Spread
         prior to Termination Date" (in the case of any Eurodollar Rate Advance
         to a Borrower outstanding prior to the earlier of the Termination Date
         and the date on which the obligations of the Lenders to make Advances
         to such Borrower are terminated pursuant to Article VI), "Eurodollar
         Spread on and after Termination Date" (in the case of any Eurodollar
         Rate Advance outstanding on or at any time after the earlier of the
         Termination Date and the date on which the obligations of the Lenders
         to make Advances to such Borrower are terminated pursuant to Article
         VI), "Facility Fee Rate" (in the case of any facility fee payable
         pursuant to clause (a) of Section 2.04) or "Utilization Fee Rate" (in
         the case of any utilization fee payable pursuant to clause (c) of
         Section 2.04), as the case may be, based upon the ratings by S&P and
         Moody's, respectively, applicable on such date to the Index Debt:

<Page>

                                                                               2

<TABLE>
<CAPTION>
======================================================================================================
                                             EURODOLLAR         EURODOLLAR
                                               SPREAD             SPREAD      FACILITY
                                              PRIOR TO         ON AND AFTER     FEE     UTILIZATION
                   INDEX DEBT RATINGS:    TERMINATION DATE   TERMINATION DATE   RATE     FEE RATE
------------------------------------------------------------------------------------------------------
<S>             <C>                             <C>                <C>         <C>         <C>
Category 1            A/A2 or better            .235%              .500%       .090%       .050%
------------------------------------------------------------------------------------------------------
Category 2      A-,BBB+, BBB/A3, Baa1, Baa2     .325%              .525%       .125%       .075%
------------------------------------------------------------------------------------------------------
Category 3          BBB-/Baa3 or below          .450%              .750%       .175%       .125%
======================================================================================================
</TABLE>

                  For purposes of the foregoing, (i) if either S&P or Moody's
         shall not have in effect a rating for the Index Debt (other than by
         reason of the circumstances referred to in the last sentence of this
         definition), then the Borrowers and the Lenders shall negotiate in good
         faith to select a substitute rating agency and during such negotiations
         the ratings with respect to the Index Debt shall be deemed to be equal
         to the available remaining rating; (ii) if both S&P and Moody's shall
         not have in effect a rating for the Index Debt (other than by reason of
         the circumstances referred to in the last sentence of this definition),
         then such rating agencies shall be deemed to have established ratings
         in Category 3; (iii) if the ratings established or deemed to have been
         established by S&P and Moody's for the Index Debt shall fall within
         different Categories, the ratings with respect to the Index Debt shall
         be deemed to be (A) the higher of the two ratings so long as the two
         ratings are adjacent and (B) the rating that is one rating higher than
         the lower of the two ratings so long as the two ratings are not
         adjacent; and (iv) if the ratings established or deemed to have been
         established by S&P and Moody's for the Index Debt shall be changed
         (other than as a result of a change in the rating system of S&P or
         Moody's), such change shall be effective as of the date on which it is
         first announced by the applicable rating agency. Each change in the
         Applicable Rate shall apply during the period commencing on the
         effective date of such change and ending on the date immediately
         preceding the effective date of the next such change. If the rating
         system of S&P or Moody's shall change, or if either such rating agency
         shall cease to be in the business of rating corporate debt obligations,
         the Borrowers and the Lenders shall negotiate in good faith to amend
         this definition to reflect such changed rating system or the
         unavailability of ratings from such rating agency and, pending the
         effectiveness of any such amendment, the Applicable Rate shall be
         determined by reference to the rating of such rating agency most
         recently in effect prior to such change or cessation and the rating of
         the other rating agency.

                  "APPROPRIATE LENDER" means (a) as to the Facility, a Lender
         that has a Commitment for a portion of, or an Advance under, the
         Facility, (b) as to the Swing Line Advances, a Swing Line Bank or (c)
         as to the Auction Bid Advances, any Lender making an Auction Bid
         Advance.

                  "ASSIGNMENT AND ACCEPTANCE" means an assignment and acceptance
         entered into by a Lender and an Eligible Assignee, and accepted by the
         Administrative Agent, in substantially the form of Exhibit E hereto.

                  "AUCTION BID" means an offer by a Lender to make an Auction
         Bid Advance pursuant to Section 2.01(c).

<Page>

                                                                               3

                  "AUCTION BID ACCEPT LETTER" means a notification made by a
         Borrower pursuant to Section 2.01(c)(iv) in the Form of Exhibit A-4.

                  "AUCTION BID ADVANCE" means an Advance by a Lender to a
         Borrower as part of an Auction Bid Borrowing resulting from the auction
         bidding procedure described in Section 2.01(c).

                  "AUCTION BID BORROWING" means a Borrowing consisting of
         simultaneous Auction Bid Advances from each of the Lenders whose offer
         to make one or more Auction Bid Advances as part of such Borrowing has
         been accepted by a Borrower under the auction bidding procedure
         described in Section 2.01(c).

                  "AUCTION BID RATE" means, as to any Auction Bid made by a
         Lender pursuant to Section 2.01(c)(ii), (x) in the case of a Eurodollar
         Auction Bid Advance, the Margin, and (y) in the case of a Fixed Rate
         Advance, the fixed rate of interest offered by the Lender making such
         Auction Bid.

                  "AUCTION BID REQUEST" means a request made pursuant to Section
         2.01(c) in the form of Exhibit A-1.

                  "BASE RATE" means, for any period, a fluctuating interest rate
         per annum as shall be in effect from time to time which rate per annum
         shall at all times be equal to the higher of:

                           (a) the Prime Rate; or

                           (b) 1/2 of one percent per annum above the Federal
                  Funds Rate.

                  "BASE RATE ADVANCE" means an Advance which bears interest as
         provided in Section 2.07(a)(i).

                  "BHCA" has the meaning specified in Section 5.02(c).

                  "BORROWING" means a borrowing initially consisting of Advances
         of the same Type made on the same day by a Lender or Lenders to a
         Borrower pursuant to Article II. Types of Borrowings may be referred to
         herein as "Base Rate Borrowings", "Eurodollar Rate Borrowings" or
         "Fixed Rate Borrowings".

                  "BUSINESS DAY" means a day of the year on which banks are not
         required or authorized to close in New York City and, if the applicable
         Business Day relates to any Eurodollar Rate Advances, on which dealings
         are carried on in the London interbank market.

                  "COMMISSION" means the U.S. Securities and Exchange Commission
         or any other regulatory body which succeeds to the functions of the
         U.S. Securities and Exchange Commission.

                  "COMMITMENT" has the meaning specified in Section 2.01(a). On
         the Effective Date, the aggregate Commitments equal $3,500,000,000.

                  "CONFIDENTIAL INFORMATION" means information that the
         Borrowers furnish to the Administrative Agent, the Syndication Agents,
         any Swing Line

<Page>

                                                                               4

         Bank or any Lender and designate in writing to be confidential, but
         does not include any such information that is or becomes generally
         available to the public or that is or becomes available to the
         Administrative Agent, the Syndication Agents, such Swing Line Bank or
         such Lender from a source other than the Borrowers.

                  "CONTROL" means the possession, directly or indirectly, of the
         power to direct or cause the direction of the management or policies of
         a Person, whether through the ownership of voting securities, by
         contract or otherwise, and "Controlling" and "Controlled" shall have
         meanings correlative thereto.

                  "CREDIT SUISSE GROUP" means Credit Suisse Group, a corporation
         with limited liability organized under the laws of Switzerland.

                  "CSFB" means Credit Suisse First Boston, a Swiss bank.

                  "CSFB BROKER-DEALER" means Credit Suisse First Boston
         Corporation, a Massachusetts corporation and an indirectly wholly owned
         Subsidiary of CSFB, Inc., and each other Subsidiary of CSFB Inc. that
         is a U.S. registered broker-dealer.

                  "CSFB INC. EVENT OF DEFAULT" means (a) any Event of Default
         referred to in (i) clause (a) of Section 6.01 which is attributable to
         any failure of CSFB Inc. to make a payment referred to therein, (ii)
         clause (b) of Section 6.01 which is attributable to any representation
         or warranty made by CSFB Inc. or the Guarantor or (iii) clause (c) of
         Section 6.01 which is attributable to any failure by CSFB Inc. or the
         Guarantor to observe or perform any term, covenant or agreement
         referred to therein and (b) any Event of Default referred to in clause
         (d) through (o), inclusive, of Section 6.01. A CSFB Inc.
         Event of Default may also constitute a CSFB (USA) Event of Default.

                  "CSFB (USA) EVENT OF DEFAULT" means (a) any Event of Default
         referred to in (i) clause (a) of Section 6.01 which is attributable to
         any failure of CSFB (USA) to make a payment referred to therein, (ii)
         clause (b) of Section 6.01 which is attributable to any representation
         or warranty made by CSFB (USA) or the Guarantor or (iii) clause (c) of
         Section 6.01 which is attributable to any failure by CSFB (USA) or the
         Guarantor to observe or perform any term, covenant or agreement
         referred to therein and (b) any Event of Default referred to in clause
         (d) through (o), inclusive, of Section 6.01. A CSFB (USA) Event of
         Default may also constitute a CSFB Inc. Event of Default.

                  "DEBT" of any Person means (i) all indebtedness of such Person
         for borrowed money, (ii) all obligations of such Person evidenced by
         bonds, debentures, notes or other similar instruments, (iii) all
         obligations of such Person to pay the deferred purchase price of
         property or services, (iv) all obligations of such Person as lessee
         under leases which shall have been or should be, in accordance with
         generally accepted accounting principles, recorded as capital leases,
         (v) all amounts available to be drawn, and the amount of all unpaid
         drawings, under letters of credit issued for the account of such
         Person, and (vi) all obligations of such Person under direct or
         indirect guaranties in respect of, and obligations (contingent or
         otherwise) to purchase or otherwise acquire, or otherwise to assure a
         creditor against loss in respect

<Page>

                                                                               5

         of, indebtedness or obligations of others of the kinds referred to
         in clauses (i) through (v) above.

                  "DEFAULT" means any Event of Default or any event that would
         constitute an Event of Default but for the requirement that notice be
         given or time elapse or both

                  "DOLLARS" or "$" shall mean lawful money of the United States
         of America.

                  "DOMESTIC LENDING OFFICE" means, with respect to any Lender,
         the office of such Lender specified as its "Domestic Lending Office"
         opposite its name on Schedule I hereto or in the Assignment and
         Acceptance pursuant to which it became a Lender, or such other office
         of such Lender as such Lender may from time to time specify to the
         Borrowers and the Administrative Agent.

                  "EFFECTIVE DATE" means the date on which this Agreement
         becomes effective pursuant to Section 3.01.

                  "ELIGIBLE ASSIGNEE" means (i) a commercial bank organized or
         licensed under the laws of the United States, or any State thereof, and
         having total assets in excess of $2,000,000,000; (ii) a savings and
         loan association or savings bank organized under the laws of the United
         States, or any State thereof, and having total assets in excess of
         $2,000,000,000; (iii) a commercial bank organized under the laws of any
         other country, or a political subdivision of any such country, having
         total assets in excess of $2,000,000,000; (iv) the central bank of any
         country; (v) a finance company, insurance company or other financial
         institution or fund (whether a corporation, partnership or other
         entity) which is engaged in making, purchasing or otherwise investing
         in commercial loans in the ordinary course of its business, and having
         total assets in excess of $1,000,000,000; (vi) any Lender; (vii) an
         Affiliate of any Lender; and (viii) any special purpose corporation
         organized under the laws of the United States or any State thereof
         which is (A) engaged in making, purchasing or otherwise investing in
         commercial loans in the ordinary course of its business and that issues
         (or the parent of which issues) commercial paper rated at least
         "Prime-1" by Moody's or "A-1" by S&P or a comparable rating from the
         successor or either of them and (B) advised by any Lender which is a
         banking institution.

                  "ERISA" means the Employee Retirement Income Security Act of
         1974, as amended from time to time, and the regulations promulgated and
         rulings issued thereunder.

                  "ERISA AFFILIATE" means any Person who for purposes of Title
         IV of ERISA is a member of a Borrower's controlled group, or under
         common control with a Borrower, within the meaning of Section 414 of
         the Internal Revenue Code of 1986, as amended from time to time.

                  "ERISA EVENT" means (i) the occurrence with respect to a Plan
         of a Borrower or any of its ERISA Affiliates of a reportable event,
         within the meaning of Section 4043 of ERISA, unless the 30-day notice
         requirement with respect thereto has been waived by the PBGC; (ii) the
         provision by the administrator of any Plan of a Borrower or any of its
         ERISA Affiliates of a notice of intent to terminate such Plan under a
         distress termination, pursuant to

<Page>

                                                                               6

         Section 4041(c) of ERISA (including any such notice with respect to a
         plan amendment referred to in Section 4041(e) of ERISA which would be
         deemed to be, or result in, a distress termination); (iii) the
         cessation of operations at a facility of a Borrower or any of its ERISA
         Affiliates in the circumstances described in Section 4062(e) of ERISA;
         (iv) the withdrawal by a Borrower or any of its ERISA Affiliates from a
         Multiple Employer Plan during a plan year for which it was a
         substantial employer, as defined in Section 4001(a)(2) of ERISA; (v)
         the conditions set forth in Section 302(f)(1)(A) and (B) of ERISA to
         the creation of a lien upon property or rights to property of a
         Borrower or any of its ERISA Affiliates for failure to make a required
         payment to a Plan are satisfied; (vi) the adoption of an amendment to a
         Plan of a Borrower or any of its ERISA Affiliates requiring the
         provision of security to such Plan, pursuant to Section 307 of ERISA;
         or (vii) the occurrence of any event or condition described in Section
         4042(a)(1), (2) or (3) of ERISA that constitutes grounds for the
         termination of, or the appointment of a trustee to administer, a Plan
         of a Borrower or any of its ERISA Affiliates.

                  "EUROCURRENCY LIABILITIES" has the meaning assigned to that
         term in Regulation D of the Board of Governors of the Federal Reserve
         System, as in effect from time to time.

                  "EURODOLLAR LENDING OFFICE" means, with respect to any Lender,
         the office of such Lender specified as its "Eurodollar Lending Office"
         opposite its name on Schedule I hereto or in the Assignment and
         Acceptance pursuant to which it became a Lender (or, if no such office
         is specified, its Domestic Lending Office), or such other office of
         such Lender as such Lender may from time to time specify to the
         Borrowers and the Administrative Agent.

                  "EURODOLLAR RATE" means, with respect to any Eurodollar Rate
         Borrowing for any Interest Period, (i) the interest rate per annum for
         deposits in U.S. dollars for a maturity most nearly comparable to such
         Interest Period which appears on page 3750 (or any successor page) of
         the Dow Jones Market Service as of 11:00 a.m., London time, on the day
         that is two Business Days prior to the first day of such Interest
         Period, or if such a rate does not appear on page 3750 (or any
         successor page) of the Dow Jones Market Service, (ii) an interest rate
         per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal
         to the rate at which dollar deposits approximately equal in principal
         amount to (a) in the case of a Revolving Credit Borrowing, Chase's
         portion of such Eurodollar Rate Borrowing and (b) in the case of an
         Auction Bid Borrowing, a principal amount that would have been Chase's
         portion of such Eurodollar Rate Borrowing had such Auction Bid
         Borrowing been a Revolving Credit Borrowing, and for a maturity
         comparable to such Interest Period are offered to the principal London
         office of Chase in immediately available funds in the London interbank
         market at approximately 11:00 a.m., London time, two Business Days
         prior to the commencement of such Interest Period.

                  "EURODOLLAR RATE ADVANCE" means an Advance which bears
         interest as provided in Section 2.07(a)(ii).

                  "EURODOLLAR RATE RESERVE PERCENTAGE" of any Lender for the
         Interest Period for any Eurodollar Rate Advance means the reserve
         percentage applicable during such Interest Period (or if more than one
         such percentage shall be so applicable, the daily average of such
         percentages for those days in

<Page>

                                                                               7

         such Interest Period during which any such percentage shall be so
         applicable) under regulations issued from time to time by the Board of
         Governors of the Federal Reserve System (or any successor) for
         determining the maximum reserve requirement (including, without
         limitation, any emergency, supplemental or other marginal reserve
         requirement) for such Lender with respect to liabilities or assets
         consisting of or including Eurocurrency Liabilities having a term equal
         to such Interest Period.

                  "EVENTS OF DEFAULT" has the meaning specified in Section 6.01.

                  "EXISTING CREDIT AGREEMENTS" means (i) the U.S. $1,495,000,000
         364-Day Auction Bid Advance and Revolving Credit Facility Agreement
         dated as of June 30, 2000, among CSFB Inc., Credit Suisse First Boston
         International (Guernsey) Ltd., various lenders party thereto, and
         Chase, as Administrative Agent and (ii) the Third Amended and Restated
         Credit Agreement dated as of May 26, 2000, among Donaldson, Lufkin &
         Jenrette, Inc., Donaldson, Lufkin & Jenrette Securities Corporation,
         various lenders party thereto, and Chase, as Administrative Agent .

                  "FACILITY" means the aggregate of the Commitments of all
         Lenders without taking into account any utilization or deemed
         utilization of the Commitments.

                  "FACILITY USAGE" means, at any time, the sum of the amount of
         Advances outstanding at such time.

                  "FEDERAL BANKRUPTCY CODE" means the Bankruptcy Reform Act of
         1978, as amended from time to time.

                  "FEDERAL FUNDS RATE" means, for any period, a fluctuating
         interest rate per annum equal for each day during such period to the
         weighted average of the rates on overnight Federal funds transactions
         with members of the Federal Reserve System arranged by Federal funds
         brokers, as published for such day (or, if such day is not a Business
         Day, for the next preceding Business Day) by the Federal Reserve Bank
         of New York, or, if such rate is not so published for any day which is
         a Business Day, the average of the quotations for such day on such
         transactions received by the Administrative Agent from three Federal
         funds brokers of recognized standing selected by it.

                  "FIXED RATE" means, for the period for each Fixed Rate Advance
         comprising part of the same Auction Bid Borrowing, the fixed interest
         rate per annum determined for such Advance, as provided in Section
         2.01(c).

                  "FIXED RATE ADVANCE" means an Auction Bid Advance that bears
         interest at a fixed rate per annum determined as provided in Section
         2.01(c).

                  "FOCUS REPORT" means the Financial and Operational Combined
         Uniform Single Report required to be filed with the Commission or the
         NYSE on a monthly and quarterly basis or any report which is required
         in lieu of such report.

                  "GAAP" means generally accepted accounting principles in the
         United States of America.

<Page>

                                                                               8

                  "GUARANTEE" means the Guarantee Agreement in the form of
         Exhibit F hereto between Credit Suisse Group and Chase, as
         Administrative Agent on behalf of the Beneficiaries (as defined
         therein).

                  "GUARANTOR" means Credit Suisse Group.

                  "IBA" has the meaning specified in Section 5.02(c).

                  "INDEX DEBT" means senior, unsecured long-term indebtedness
         for borrowed money of the Guarantor that is not guaranteed by any other
         Person or subject to any other credit enhancement.

                  "INSUFFICIENCY" means, with respect to any Plan, the amount of
         "unfunded benefit liabilities" (as defined in Section 4001(a)(18) of
         ERISA), if any, for such Plan.

                  "INTEREST PERIOD" means, for each Advance comprising part of
         the same Borrowing, the period commencing on the date of such Advance
         (or the last day of the immediately preceding Interest Period
         applicable to such Borrowing, as the case may be) and ending on the
         last day of the period selected by the applicable Borrower pursuant to
         the provisions below. The duration of each such Interest Period shall
         be (a) in the case of a Base Rate Advance which is a Swing Line Advance
         other than an Unrefunded Swing Line Advance, five Business Days, and in
         the case of all other Base Rate Advances, 1, 2, 3 or 6 months, (b) in
         the case of a Eurodollar Rate Advance, 1, 2, 3 or 6 months, and (c) in
         the case of a Fixed Rate Advance, any period of not fewer than seven
         and not more than 360 days, in each case as the applicable Borrower may
         select pursuant to notice given in accordance with Section 2.01(c),
         2.02(a), 2.02(b) or 2.19, as the case may be; PROVIDED, HOWEVER, that:

                           (i) the duration of any Interest Period for an
                  Auction Bid Advance or a Swing Line Advance which commences
                  before the Termination Date and would otherwise end after the
                  Termination Date shall end on the Termination Date;

                           (ii) the duration of the Interest Period for any
                  Advance which commences before the Maturity Date and would
                  otherwise end after the Maturity Date shall end on the
                  Maturity Date;

                           (iii) Interest Periods commencing on the same date
                  for Advances comprising part of the same Borrowing shall be of
                  the same duration; and

                           (iv) whenever the last day of any Interest Period
                  would otherwise occur on a day other than a Business Day, the
                  last day of such Interest Period shall be extended to occur on
                  the next succeeding Business Day, PROVIDED, in the case of any
                  Interest Period for a Eurodollar Rate Advance, that if such
                  extension would cause the last day of such Interest Period to
                  occur in the next following calendar month, the last day of
                  such Interest Period shall occur on the next preceding
                  Business Day.

<Page>

                                                                               9

                  "LENDER AFFILIATE" means, (a) with respect to any Lender, (i)
         an Affiliate of such Lender or (ii) any entity (whether a corporation,
         partnership, trust or otherwise) that is engaged in making, purchasing,
         holding or otherwise investing in bank loans and similar extensions of
         credit in the ordinary course of its business and is administered or
         managed by a Lender or an Affiliate of such Lender and (b) with respect
         to any Lender that is a fund which invests in bank loans and similar
         extensions of credit, any other fund that invests in bank loans and
         similar extensions of credit and is managed by the same investment
         advisor as such Lender or by an Affiliate of such investment advisor.

                  "LENDERS" means the Banks listed on Schedule 2.01 hereof and
         each Eligible Assignee that shall become a party hereto pursuant to
         Section 8.07(a), (b) and (c).

                  "LIEN" means any lien, security interest or other charge or
         encumbrance of any kind, or any other type of preferential arrangement.

                  "MAJORITY LENDERS" means at any time Lenders having
         Commitments representing at least 51% of the aggregate Commitments (or
         the aggregate Advances, if the Commitments have been terminated) or,
         for purposes of actions taken to accelerate Advances under Article VI,
         Lenders holding Advances representing at least 51% of the aggregate
         principal amount of the Advances outstanding.

                  "MARGIN" means, as to any Eurodollar Auction Bid Advance, the
         margin (expressed as a percentage rate per annum in the form of a
         decimal to no more than four decimal places) to be added to or
         subtracted from the Eurodollar Rate in order to determine the interest
         rate applicable to such Auction Bid Advance, as specified in the
         Auction Bid relating thereto.

                  "MATURITY DATE" means, subject to the terms of Section 2.18,
         May 24, 2003.

                  "MOODY'S" means Moody's Investors Service, Inc.

                  "MULTIEMPLOYER PLAN" means a "multiemployer plan", as defined
         in Section 4001(a)(3) of ERISA, to which a Borrower or any of its ERISA
         Affiliates is making or accruing an obligation to make contributions,
         or has within any of the preceding five plan years made or accrued an
         obligation to make contributions, such plan being maintained pursuant
         to one or more collective bargaining agreements.

                  "MULTIPLE EMPLOYER PLAN" means a single employer plan, as
         defined in Section 4001(a)(15) of ERISA, that (i) is maintained for
         employees of a Borrower or any of its ERISA Affiliates and at least one
         Person other than such Borrower and its ERISA Affiliates or (ii) was so
         maintained and in respect of which such Borrower or any of its ERISA
         Affiliates could have liability under Section 4064 or 4069 of ERISA in
         the event such plan has been or were to be terminated.

                  "NASD" means the National Association of Securities Dealers,
         Inc., or any other self-regulatory organization which succeeds to the
         functions of the National Association of Securities Dealers, Inc.

<Page>

                                                                              10

                  "NET ASSETS" means, with respect to any Person, the excess (if
         positive) of (i) such Person's consolidated assets over (ii) such
         Person's consolidated liabilities, each case determined in accordance
         with GAAP.

                  "NET CAPITAL RULE" means Rule 15c3-1, adopted by the
         Commission under the Securities Exchange Act of 1934, as amended from
         time to time.

                  "NOTICE OF BORROWING" has the meaning specified in Section
         2.02(a).

                  "NOTICE OF SWING LINE BORROWING" has the meaning specified in
         Section 2.02(b).

                  "NYSE" means the New York Stock Exchange, Inc.

                  "OTHER TAXES" has the meaning specified in Section 2.14(b).

                  "PBGC" means the Pension Benefit Guaranty Corporation or any
         successor corporation thereto.

                  "PERSON" means an individual, partnership, corporation
         (including a business trust), joint stock company, trust,
         unincorporated association, joint venture or other entity, or a
         government or any political subdivision or agency thereof.

                  "PLAN" means a Single Employer Plan or a Multiple Employer
         Plan subject to Title IV of ERISA.

                  "PRIME RATE" means the prime commercial lending rate as
         publicly announced by Chase in New York City to be in effect, from time
         to time, as Chase's prime rate. The Prime Rate is a reference rate and
         does not necessarily represent the lowest or best rate actually charged
         to any customer.

                  "PRINCIPAL SUBSIDIARY" means each CSFB Broker-Dealer and each
         other Subsidiary of CSFB Inc. the Net Assets of which constitute, as of
         the last day of the most recently ended fiscal quarter of the
         Borrowers, 5% or more of the consolidated Net Assets of CSFB Inc.

                  "REGISTER" has the meaning specified in Section 8.07(d).

                  "REVOLVING CREDIT ADVANCE" means an Advance by a Lender to a
         Borrower as part of a Revolving Credit Borrowing pursuant to Section
         2.01(a).

                  "REVOLVING CREDIT BORROWING" means a Borrowing consisting of
         simultaneous Revolving Credit Advances made by the Lenders to a
         Borrower pursuant to Section 2.01(a).

                  "S&P" means Standard and Poor's Ratings Services, a division
         of the McGraw-Hill Companies, Inc.

                  "SIMILAR CREDIT AGREEMENT" has the meaning specified in
         Section 8.09.

                  "SINGLE EMPLOYER PLAN" means a single employer plan, as
         defined in Section 4001(a)(15) of ERISA, that (i) is maintained for
         employees of a Borrower or any of its ERISA Affiliates and no Person
         other than such

<Page>

                                                                              11

         Borrower or any of its ERISA Affiliates or (ii) was so maintained and
         in respect of which such Borrower or any of its ERISA Affiliates could
         have liability under Section 4069 of ERISA in the event such plan has
         been or were to be terminated.

                  "SIPA" means the Securities Investor Protection Act of 1970,
         as amended from time to time.

                  "SIPC" means the Securities Investor Protection Corporation or
         any successor thereto.

                  "SUBSIDIARY" means with respect to any Person (including a
         Borrower), any Person that is accounted for as a consolidated
         subsidiary of such Person in accordance with generally accepted
         accounting principles.

                  "SWING LINE ADVANCE" has the meaning specified in Section
         2.01(b).

                  "SWING LINE BANK" means each financial institution having a
         Swingline Commitment in Schedule 2.01; PROVIDED, however, that with the
         agreement of the Borrowers, any other Lender may become a Swing Line
         Bank after the date hereof pursuant to a notification given to the
         Administrative Agent by such Lender and the Borrowers which sets forth
         such Lender's Swing Line Commitment (which shall not in any event
         exceed such Lender's Commitment hereunder).

                  "SWING LINE BORROWING" means a Borrowing consisting of Swing
         Line Advances.

                  "SWING LINE COMMITMENT" means the commitment of a Swing Line
         Bank to make Swing Line Advances, as set forth opposite such Swing Line
         Bank's name on Schedule 2.01 hereof or, in the case of a Lender
         becoming a Swing Line Bank after the date hereof, as notified to the
         Administrative Agent by such Lender and the Borrowers.

                  "TERMINATION DATE" means the earlier of (i) subject to the
         terms of Section 2.18, May 24, 2002, and (ii) the date of termination
         in whole of the Commitments pursuant to Section 2.05.

                  "TYPE" means, with respect to any Advance, a Base Rate
         Advance, a Eurodollar Rate Advance or a Fixed Rate Advance.

                  "UNREFUNDED SWING LINE ADVANCES" has the meaning specified in
         Section 2.01(b)(iii).

                  "WITHDRAWAL LIABILITY" shall have the meaning given such term
         under Part I of Subtitle E of Title IV of ERISA.

                  SECTION 1.02. COMPUTATION OF TIME PERIODS. In this Agreement
in the computation of periods of time from a specified date to a later specified
date, the word "from" means "from and including" and the words "to" and "until"
each means "to but excluding".

<Page>

                                                                              12

                  SECTION 1.03. ACCOUNTING TERMS. All accounting terms not
specifically defined herein shall be construed in accordance with generally
accepted accounting principles applicable to the entity in respect of which such
term is used.

                                   ARTICLE II

                        AMOUNTS AND TERMS OF THE ADVANCES

                  SECTION 2.01. THE ADVANCES. (a) REVOLVING CREDIT ADVANCES.
Each Lender severally agrees, on the terms and conditions hereinafter set forth,
to make one or more Revolving Credit Advances (such advances, together with (i)
the Swing Line Advances and (ii) to the extent any Lender elects to make them,
Auction Bid Advances as provided in subsection (c) of this Section 2.01, being
the "Advances") to the Borrowers from time to time on any Business Day during
the period from the date hereof to but excluding the Termination Date (or, if
earlier with respect to either Borrower, the date on which the obligations of
the Lenders to make Advances to such Borrower are terminated pursuant to Article
VI) in an aggregate principal amount not to exceed at any time outstanding the
amount set opposite such Lender's name on Schedule 2.01 hereof or, if such
Lender has entered into any Assignment and Acceptance, set forth for such Lender
in the Register maintained by the Administrative Agent pursuant to Section
8.07(d), as such amount may be reduced pursuant to Section 2.05 (such Lender's
"Commitment"); PROVIDED, HOWEVER, that (A) the Facility Usage shall not at any
time exceed the Facility at such time, (B) the deemed use of the aggregate
amount of the Commitments resulting from outstanding Auction Bid Advances and
Swing Line Advances shall be applied to all the Lenders ratably according to
their respective Commitments and (C) each Revolving Credit Advance shall be made
as part of a Borrowing consisting of Revolving Credit Advances made by the
Lenders ratably in accordance with their Commitments. Each Revolving Credit
Borrowing shall be in an aggregate amount not less than $25,000,000 and in an
integral multiple of $5,000,000. Within the limits of the foregoing and of each
Lender's Commitment, each Borrower may, from time to time prior to the earlier
of the Termination Date and the date on which the obligations of the Lenders to
make Advances to such Borrower are terminated pursuant to Article VI, borrow
under this Section 2.01(a), repay pursuant to Section 2.06, prepay pursuant to
Section 2.10 and reborrow under this Section 2.01(a).

                  (b) THE SWING LINE ADVANCES. (i) Each Swing Line Bank
severally agrees, on the terms and subject to the conditions hereinafter set
forth, to make one or more Base Rate Advances (such advances made pursuant to
this Section 2.01(b) being the "Swing Line Advances") to the Borrowers from time
to time on any Business Day during the period from the date hereof to but
excluding the Termination Date (or, if earlier with respect to either
Borrower, the date on which the obligations of the Lenders to make Advances
to such Borrower are terminated pursuant to Article VI) in an aggregate
amount at any time outstanding not in excess of the amount of such Swing Line
Bank's Swing Line Commitment at such time; PROVIDED, HOWEVER, that
immediately after giving effect to each such Swing Line Advance, the Facility
Usage shall not exceed the Facility; PROVIDED FURTHER, HOWEVER, that (A) each
Swing Line Advance shall be deemed to utilize the Commitment of each Lender
by such Lender's pro rata portion (based on the Commitments of the Lenders)
of the amount of such Swing Line Advance; (B) the aggregate amount of Swing
Line Advances of each Swing Line Bank at any time outstanding, when added to
the aggregate amount of Revolving Credit Advances of such Swing Line Bank
then outstanding, may not exceed the Commitment of such Swing Line Bank; (C)
each Swing Line Borrowing

<Page>

                                                                              13

shall be in an amount of at least $25,000,000 and shall be in an integral
multiple of $5,000,000; and (D) each Swing Line Advance shall mature and be
repaid on the fifth Business Day after the date of such Swing Line Borrowing.
In no event may Swing Line Advances be borrowed hereunder if (x) the
Administrative Agent shall have received notice from the Majority Lenders
specifying that a Default or Event of Default shall have occurred and be
continuing, (y) such Default or Event of Default shall not have been
subsequently cured or waived and (z) any other applicable condition precedent
set forth in Article III has not been fulfilled or waived in accordance with
the terms thereof. All Swing Line Advances shall at all times be Base Rate
Advances and may not be converted to Advances of a different type. Swing Line
Advances shall be made by the Swing Line Banks pro rata in accordance with
the relative amounts of their Swing Line Commitments which, after giving
effect to the foregoing provisions of this Section 2.01(b)(i), are available
for the making of Swing Line Advances. Within the limits and subject to the
conditions of the foregoing, each Borrower may, prior to the earlier of the
Termination Date and the date on which the obligations of the Lenders to make
Advances to such Borrower are terminated pursuant to Article VI, borrow under
this Section 2.01(b), repay pursuant to Section 2.06(b) or prepay pursuant to
Section 2.10 and reborrow under this Section 2.01(b).

                  (ii) Notwithstanding the occurrence of any Default or Event of
Default or noncompliance with the conditions precedent set forth in Article III
or the minimum borrowing amounts specified in Section 2.01, if any Swing Line
Advances shall remain outstanding at 10:00 a.m., New York City time, on the
fourth Business Day following the borrowing date thereof and if by such time on
such fourth Business Day the Administrative Agent shall have received neither
(i) a notice of borrowing delivered by the applicable Borrower pursuant to
Section 2.02 requesting that Revolving Credit Advances be made pursuant to
Section 2.01(a) on the immediately succeeding Business Day in an amount at least
equal to the aggregate principal amount of such Swing Line Advances nor (ii) any
other notice satisfactory to the Administrative Agent indicating the applicable
Borrower's intent to repay all such Swing Line Advances on or before the
immediately succeeding Business Day with funds obtained from other sources, the
Administrative Agent shall be deemed to have received a notice from such
Borrower pursuant to Section 2.02 requesting that a Revolving Credit
Borrowing of Base Rate Advances be made pursuant to Section 2.01(a) on such
immediately succeeding Business Day in an amount equal to the aggregate
amount of such Swing Line Advances, and the procedures set forth in Section
2.02 shall be followed in making such Base Rate Advances, provided that the
proceeds of such Base Rate Advances received by the Administrative Agent
shall be immediately delivered to the Swing Line Banks and applied to the
direct repayment of such Swing Line Advances. Effective on the day such Base
Rate Advances are made, the portion of the Swing Line Advances so paid shall
no longer be outstanding as Swing Line Advances and shall be outstanding as
Revolving Credit Advances of the Lenders. On the day such Revolving Credit
Borrowing is made, each Swing Line Bank's proportionate share of such
Revolving Credit Advances shall be deemed to be funded from its Swing Line
Advances being refunded. Each Borrower authorizes the Administrative Agent
and each of the Swing Line Banks to charge such Borrower's accounts with the
Administrative Agent or such Swing Line Bank (up to the amount available in
each such account) in order to immediately pay the amount of such Swing Line
Advances to the extent amounts received from the Lenders are not sufficient
to repay in full such Swing Line Advances. If any portion of any such amount
paid (or deemed paid) to a Swing Line Bank should be recovered by or on
behalf of such Borrower from such Swing Line Bank in the event of the
bankruptcy or reorganization of such Borrower or otherwise, the loss of the
amount so recovered

<Page>

                                                                              14

shall be ratably shared among all the Lenders in the manner contemplated by
Section 2.15.

                  (iii) If, for any reason (including without limitation, the
occurrence of an event described in Section 6.01(e)), Base Rate Advances may not
be, or are not, made pursuant to subparagraph (b)(ii) of this Section to repay
Swing Line Advances as required by such subparagraph, effective on the date such
Base Rate Advances would otherwise have been made, each Lender severally,
unconditionally and irrevocably agrees that it shall, without regard to the
occurrence of any Default or Event of Default, purchase a participating interest
in such Swing Line Advances ("Unrefunded Swing Line Advances") in an amount
equal to the amount of Base Rate Advances which would otherwise have been made
by such Lender pursuant to subparagraph (b)(ii) of this Section. Each Lender
will immediately transfer to the Administrative Agent, in immediately available
funds, the amount of its participation, and the proceeds of such participation
shall be distributed by the Administrative Agent to the Swing Line Banks, pro
rata in accordance with the amount of their Swing Line Advances, to such extent
as will reduce the amount of the participating interest retained by each such
Swing Line Bank in its Swing Line Advances to the amount of the Base Rate
Advances which were to have been made by each such Swing Line Bank pursuant to
subparagraph (b)(ii) of this Section. Each Lender purchasing a participating
interest in Swing Line Advances under this Section 2.01(b)(iii) shall have the
same rights as a Lender under this Agreement. In the event any Lender fails to
make available to a Swing Line Bank the amount of such Lender's participation as
provided in this subparagraph (b)(iii), such Swing Line Bank shall be entitled
to recover such amount on demand from such Lender together with interest at
the customary rate set by the Swing Line Bank for correction of errors among
banks for one Business Day and thereafter at the Base Rate then in effect.

                  (iv) Each Lender's obligation to make Revolving Credit
Advances pursuant to subparagraph (b)(ii) of this Section and to purchase
participating interests pursuant to subparagraph (b)(iii) of this Section shall
be absolute and unconditional and shall not be affected by any circumstance,
including, without limitation, (i) any set-off, counterclaim, recoupment,
defense or other right which such Lender or either Borrower may have against a
Swing Line Bank, a Borrower, or any other Person, as the case may be, for any
reason whatsoever; (ii) the occurrence or continuance of a Default or an Event
of Default; (iii) any adverse change in the condition (financial or otherwise)
of either Borrower or any of its Subsidiaries; (iv) any breach of this Agreement
by either Borrower or any Lender; or (v) any other circumstance, happening or
event whatsoever, whether or not similar to any of the foregoing.

                  (c) THE AUCTION BID ADVANCES. (i) In order to request Auction
Bid Borrowings, a Borrower shall hand deliver or telecopy to the Administrative
Agent a duly completed Auction Bid Request substantially in the form of Exhibit
A-1 hereto, to be received by the Administrative Agent (i) in the case of a
Eurodollar Rate Borrowing, not later than 10:00 a.m., New York City time, four
Business Days before a proposed Auction Bid Borrowing and (ii) in the case of a
Fixed Rate Borrowing, not later than 10:00 a.m., New York City time, one
Business Day before a proposed Auction Bid Borrowing. No Base Rate Advance shall
be requested in, or made pursuant to, an Auction Bid Request. An Auction Bid
Request that does not conform substantially to the format of Exhibit A-1 may be
rejected in the Administrative Agent's sole discretion, and the Administrative
Agent shall promptly notify the applicable Borrower of such rejection by
telecopier. Such request shall in each case refer to this Agreement and specify
(x) whether the Borrowing then being requested is to be a Eurodollar Borrowing
or a Fixed Rate Borrowing, (y) the date of such

<Page>

                                                                              15

Borrowing (which shall be a Business Day occurring on or prior to the
Termination Date) and the aggregate principal amount thereof which shall be
in a minimum principal amount of $25,000,000 and in an integral multiple of
$5,000,000, and (z) the Interest Period with respect thereto. Promptly after
its receipt of an Auction Bid Request that is not rejected as aforesaid, the
Administrative Agent shall invite by telecopier (in the form set forth in
Exhibit A-2 hereto) the Lenders to bid, on the terms and conditions of this
Agreement, to make Auction Bid Advances pursuant to the Auction Bid Request.
A Borrower may request Auction Bids for up to three separate Interest Periods
in a single Auction Bid Request, provided that the aggregate principal amount
of each Borrowing requested shall be in a minimum principal amount of
$25,000,000 and in an integral multiple of $5,000,000.

                  (ii) Each Lender may, in its sole discretion, make one or more
Auction Bids to the applicable Borrower responsive to an Auction Bid Request.
Each Auction Bid by a Lender must be received by the Administrative Agent via
telecopier, in the form of Exhibit A-3 hereto, (A) in the case of a
Eurodollar Rate Auction Bid Borrowing, not later than 9:30 a.m., New York
City time, three Business Days before a proposed Auction Bid Borrowing and
(B) in the case of a Fixed Rate Borrowing, not later than 9:30 a.m., New York
City time, on the day of a proposed Auction Bid Borrowing. Multiple bids with
respect to each Interest Period specified in the related Auction Bid Request
will be accepted by the Administrative Agent. Auction Bids that do not
conform substantially to the format of Exhibit A-3 may be rejected by the
Administrative Agent after conferring with, and upon the instruction of, the
applicable Borrower, and the Administrative Agent shall notify the Lender
making such nonconforming bid of such rejection as soon as practicable. Each
Auction Bid shall refer to this Agreement and specify (x) the principal
amount (which shall be in a minimum amount of $5,000,000 and in an integral
multiple of $1,000,000, and which may equal the entire principal amount of
the Auction Bid Borrowing requested by the applicable Borrower) of the
Auction Bid Advance or Advances with respect to an Interest Period that the
applicable Lender is willing to make to the applicable Borrower, (y) the
Auction Bid Rate or Rates at which such Lender is prepared to make the
Auction Bid Advance or Advances and (z) the Interest Period and the last day
thereof. If a Lender submits an Auction Bid containing offers to make Auction
Bid Advances for different Interest Periods, then such Lender may specify the
maximum aggregate principal amount of Auction Bid Advances (which shall not
be less than $5,000,000 and which shall be an integral multiple of
$1,000,000) that such Lender is willing to make in response to the related
Auction Bid Request, and the applicable Borrower may not accept offers from
such Lender for Auction Bid Advances in an aggregate principal amount that
exceeds such specified maximum aggregate principal amount. An Auction Bid
submitted by a Lender pursuant to this subparagraph (ii) shall be irrevocable
unless rejected by the applicable Borrower.

                  (iii) The Administrative Agent shall, by 10:00 a.m., New York
City time, on the day specified in subparagraph (ii) above by which Auction Bids
must be received, notify the applicable Borrower by telecopier of all the
Auction Bids made, the Auction Bid Rate and the principal amount of each Auction
Bid Advance in respect of which an Auction Bid was made and the identity of the
Lender that made each bid. The Administrative Agent shall send a copy of all
Auction Bids to the applicable Borrower for its records as soon as practicable
after completion of the bidding process set forth in this Section 2.01(c).

                  (iv) The applicable Borrower may in its sole and absolute
discretion, subject only to the provisions of this subparagraph (iv) and Section
2.01, accept or reject any Auction Bid referred to in subparagraph (iii) above;
PROVIDED, HOWEVER,

<Page>

                                                                              16

that, immediately after giving effect to any such acceptance, the Facility
Usage shall not exceed the Facility. The applicable Borrower shall notify the
Administrative Agent by telephone, confirmed by telecopier in the form of an
Auction Bid Accept Letter substantially in the form of Exhibit A-4, whether
and to what extent it has decided to accept any of or all the bids referred
to in subparagraph (iii) above, (A) in the case of a Eurodollar Auction Bid
Advance, not later than 10:30 a.m. New York City time, three Business Days
before a proposed Auction Bid Borrowing, and (B) in the case of a Fixed Rate
Borrowing, not later than 10:30 a.m., New York City time, on the day of a
proposed Auction Bid Borrowing; PROVIDED, HOWEVER, that (A) the failure by
the applicable Borrower to give such notice shall be deemed to be a rejection
of all the bids referred to in subparagraph (iii) above, (B) any bid referred
to in subparagraph (iii) above which is not specified in such notice as being
accepted by the applicable Borrower shall (subject to clause (C) below) be
deemed rejected, (C) subject to the next following sentence, the applicable
Borrower shall not accept a bid for a particular Interest Period made at a
particular Auction Bid Rate if such Borrower has decided to reject a bid for
such Interest Period made at a lower Auction Bid Rate, (D) if the applicable
Borrower shall accept a bid or bids for a particular Interest Period made at
a particular Auction Bid Rate but the amount of such bid or bids plus the
amount of bids accepted at lower Auction Bid Rates exceeds the aggregate
principal amount specified for such Interest Period in the Auction Bid
Request, then such Borrower shall be deemed to have accepted a portion of
such bid or bids in an amount equal to the aggregate principal amount
specified for such Interest Period in the Auction Bid Request less the amount
of all other Auction Bids at a lower Auction Bid Rate accepted with respect
to such Interest Period, which acceptance, in the case of multiple bids at
such Auction Bid Rate, shall be made pro rata in accordance with the amount
of each such bid at such Auction Bid Rate, (E) Auction Bids shall not be
accepted for Auction Bid Advances in an amount in excess of the amount
specified in the relevant Auction Bid Request, and (F) except pursuant to
clause (D) above, no bid shall be accepted for an Auction Bid Advance unless
such Auction Bid Advance is in a minimum principal amount of $5,000,000 and
an integral multiple of $1,000,000; PROVIDED FURTHER, HOWEVER, that if an
Auction Bid Advance must be in an amount less than $5,000,000 because of the
provisions of clause (D) above, such Auction Bid Advance may be for a minimum
of $1,000,000 or any integral multiple thereof, and in calculating the pro
rata allocation of acceptances of portions of multiple bids at a particular
Auction Bid Rate pursuant to clause (D), the amounts shall be rounded to
integral multiples of $1,000,000 in a manner which shall be in the discretion
of the applicable Borrower. If a Lender submits an Auction Bid for multiple
Interest Periods specifying a maximum aggregate principal amount of Auction
Bid Advances that such Lender is willing to make in respect of an Auction Bid
Request and the applicable Borrower accepts Auction Bids from such Lender for
more than one Interest Period, then such Borrower shall instruct the
Administrative Agent how to apportion such Borrower's acceptances among such
bids for different Interest Periods to the extent, if any, necessary to
provide for acceptance of bids for such maximum specified amount of Auction
Bid Advances, but no more than such maximum amount. A notice given by the
applicable Borrower pursuant to this subparagraph (iv) shall be irrevocable.

                  (v) The Administrative Agent shall, by telecopy, promptly
notify each bidding Lender whether or not its Auction Bid has been accepted (and
if so, for which Interest Period or Interest Periods and in what amount and at
what Auction Bid Rate for each such Interest Period), and each successful bidder
will thereupon become bound, subject to the other applicable conditions
hereof, to make the Auction Bid Advance in respect of which its bid has been
accepted.

<Page>

                                                                              17

                  (vi) An Auction Bid Request shall not be made within five
Business Days after the date of any previous Auction Bid Request.

                  (vii) If the Administrative Agent shall elect to submit an
Auction Bid in its capacity as a Lender, it shall submit such bid directly to
the applicable Borrower one quarter of an hour earlier than the latest time at
which the other Lenders are required to submit their bids to the Administrative
Agent pursuant to subparagraph (ii) above.

                  (viii) All Notices required by this Section 2.01(c) shall be
given in accordance with Section 8.02. Notwithstanding any other provision of
this Agreement, neither Borrower shall request, and no Lender shall make, any
Auction Bid Advance having a borrowing date after the seventh day prior to the
Termination Date.

                  SECTION 2.02. REVOLVING CREDIT AND SWING LINE BORROWING
PROCEDURES. (a) Each Revolving Credit Borrowing shall be made on notice (a
"Notice of Borrowing"), given not later than 10:00 a.m. (New York City time) on
(i) if such Advances are Eurodollar Rate Advances, the third Business Day prior
to the date of the proposed Borrowing or (ii) if such Advances are Base Rate
Advances, one Business Day prior to the date of the proposed Borrowing. Such
Notice of Borrowing shall be in substantially the form of Exhibit B-1 or in such
other form as the Administrative Agent and the applicable Borrower may agree
upon, and shall in each case specify which Borrower is requesting such Borrowing
and the requested (A) date of the proposed Borrowing, (B) Type of Advances
comprising the proposed Borrowing, (C) amount of the proposed Borrowing, (D)
Interest Period for the proposed Borrowing and (E) additional information set
forth in Exhibit B-1, as the case may be. If the proposed Borrowing is comprised
of Eurodollar Rate Advances, the Administrative Agent shall promptly contact
Chase to determine the applicable Eurodollar Rate, which Chase shall promptly
provide. Promptly after receipt of such Eurodollar Rate from Chase, the
Administrative Agent shall notify the applicable Borrower and each Appropriate
Lender of the applicable interest rate under Section 2.07. No Auction Bid
Advance and no Fixed Rate Advance shall be requested or made pursuant to a
Notice of Borrowing. The Administrative Agent shall promptly advise the Lenders
of any notice given pursuant to this 2.02(a) and of each Lender's portion of the
requested Borrowing.

                  (b) Each Swing Line Borrowing shall be made on notice, given
not later than 12:00 noon (New York City time) on the date of the proposed Swing
Line Borrowing, by the applicable Borrower to the Administrative Agent, which
shall give each Swing Line Bank prompt notice thereof and of its portion of the
requested Swing Line Borrowing. Each such notice of a Swing Line Borrowing (the
"Notice of Swing Line Borrowing") shall be in the form of Exhibit B-2 or in such
other form as the Administrative Agent and the applicable Borrower may agree
upon, and shall be given by telephone, telex or telecopier and, if by
telephone, shall be confirmed immediately in writing (which may be by
telecopier) and shall specify therein the requested date (which shall be a
Business Day) and amount of such Swing Line Borrowing. Each Swing Line Bank
shall, not later than 3:00 p.m., New York City time, on the requested
borrowing date, make its portion of the requested Swing Line Borrowing
available to the Administrative Agent by wire transfer of immediately
available funds to the Administrative Agent. After the Administrative Agent's
receipt of such funds and upon fulfillment of the conditions set forth in
Article III, the Administrative Agent will make such funds available to the
applicable Borrower at the Administrative Agent's aforesaid address, or, if a
Borrowing shall not occur on

<Page>

                                                                              18

such date because any condition precedent herein specified shall not have
been met, return the amounts so received to the respective Swing Line Banks.

                  (c) Each Notice of Borrowing and Notice of Swing Line
Borrowing shall be irrevocable and binding on the applicable Borrower.

                  SECTION 2.03. GENERAL PROVISIONS RELATING TO ADVANCES. (a) If
(i) the Administrative Agent shall, at least one Business Day before the date of
any requested Borrowing comprised of Eurodollar Rate Advances, determine that
dollar deposits in the principal amounts of the Eurodollar Rate Advances
comprising such Borrowing are not generally available in the London interbank
market or that reasonable means do not exist for determining the Eurodollar Rate
or (ii) if the Majority Lenders shall, at least one Business Day before the date
of any requested Borrowing comprised of Eurodollar Rate Advances, notify the
Administrative Agent that the Eurodollar Rate for Eurodollar Rate Advances
comprising such Borrowing will not adequately reflect the cost to such Majority
Lenders of making or funding their respective Eurodollar Rate Advances for such
Borrowing, then, in each case, the Administrative Agent shall give prompt notice
thereof to the Borrowers and the right of the Borrowers to select Eurodollar
Rate Advances for such Borrowing or any subsequent Borrowing shall be suspended
until the Administrative Agent shall notify the Borrowers and the Lenders that
the circumstances giving rise to such suspension no longer exist, and each
Advance comprising any such Borrowing shall be a Base Rate Advance.

                  (b) In the case of any Borrowing to be comprised of Eurodollar
Rate Advances or Fixed Rate Advances, the applicable Borrower shall indemnify
each Lender against any loss, cost or expense incurred by such Lender as a
result of any failure to fulfill on or before the proposed date of Borrowing for
such Borrowing the applicable conditions set forth in Article III, including,
without limitation, any loss (including loss of anticipated profits), cost or
expense incurred by reason of the liquidation or reemployment of deposits or
other funds acquired by such Lender to fund the Advance to be made by such
Lender as part of such Borrowing when such Advance, as a result of such failure,
is not made on such date. Each Lender agrees to use reasonable efforts
(consistent with its internal policy and legal and regulatory restrictions)
to minimize the amount of any loss of anticipated profits payable by the
applicable Borrower to such Lender pursuant to the immediately preceding
sentence.

                  (c) Subject to Section 2.18 and, in the case of Swing Line
Advances, Sections 2.01(b) and 2.02(b), each Lender shall make each Advance to
be made by it hereunder on the proposed date thereof by wire transfer of
immediately available funds to the Administrative Agent in New York, New York,
not later than 11:00 a.m., New York City time (or 2:00 p.m., New York City time,
in the case of a Base Rate Advance), and the Administrative Agent shall promptly
credit the amounts so received to the general deposit account of the applicable
Borrower with the Administrative Agent or, if a Borrowing shall not occur on
such date because any condition precedent herein specified shall not have been
met, return the amounts so received to the respective Lenders. Auction Bid Rate
Advances shall be made by the Lender or Lenders whose Auction Bids therefor are
accepted pursuant to Section 2.01(c) in the amounts so accepted and Revolving
Credit Advances shall be made by the Lenders pro rata in accordance with Section
2.01(a).

                  (d) Unless the Administrative Agent shall have received notice
from a Lender prior to the date of any Revolving Credit Borrowing that such
Lender will not make available to the Administrative Agent such Lender's ratable
portion of such

<Page>

                                                                              19

Borrowing, the Administrative Agent may assume that such Lender has made such
portion available to the Administrative Agent on the date of such Borrowing
in accordance with subsection (a) of Section 2.02 and the Administrative
Agent may, in reliance upon such assumption, make available to the applicable
Borrower on such date a corresponding amount. If and to the extent that such
Lender shall not have so made such ratable portion available to the
Administrative Agent, such Lender and the applicable Borrower severally agree
to repay to the Administrative Agent forthwith on demand such corresponding
amount together with interest thereon, for each day from the date such amount
is made available to such Borrower until the date such amount is repaid to
the Administrative Agent, at (i) in the case of such Borrower, the interest
rate applicable at the time to Advances comprising such Borrowing and (ii) in
the case of such Lender, the Federal Funds Rate. If such Lender shall repay
to the Administrative Agent such corresponding amount, such amount so repaid
shall constitute such Lender's Advance as part of such Borrowing for purposes
of this Agreement.

                  (e) The failure of any Lender to make the Advance to be made
by it as part of any Borrowing shall not relieve any other Lender of its
obligation, if any, hereunder to make its Advance on the date of such Borrowing,
but no Lender shall be responsible for the failure of any other Lender to make
the Advance to be made by such other Lender on the date of any Borrowing.

                  SECTION 2.04. FEES. (a) The Borrowers agree, jointly and
severally, to pay to the Administrative Agent for the account of each Lender a
facility fee, which shall accrue at the Applicable Rate on the daily amount of
such Lender's Commitment from time to time in effect (whether used or unused)
from and including the date hereof in the case of each Bank and from the
effective date specified in the Assignment and Acceptance pursuant to which
it became a Lender in the case of each other Lender, to but excluding the
date on which such Commitment terminates. Accrued facility fees shall be
payable in arrears on the last Business Day of March, June, September and
December of each year, commencing June 30, 2001, on any date on which the
obligations of the Lenders to make Advances to a Borrower are terminated
pursuant to Article VI and on the Termination Date.

                  (b) The Borrowers agree, jointly and severally, to pay to the
Administrative Agent for its own account such fees as may from time to time be
agreed between the Administrative Agent and the Borrowers.

                  (c) For each day prior to and including the Termination Date
on which the aggregate amount of Facility Usage exceeds 50% of the aggregate
amount of the Commitments, each Borrower agrees to pay to the Administrative
Agent for the account of each Lender a utilization fee on the unpaid principal
amount of each Advance owed by it to such Lender at a rate per annum equal to
the Applicable Rate in effect for such day. Accrued utilization fees shall be
payable in arrears on the last Business Day of March, June, September and
December of each year, commencing June 30, 2001, on any date on which the
Advances become due and payable pursuant to Article VI and on the Termination
Date.

                  SECTION 2.05. TERMINATION OR REDUCTION OF THE FACILITY. (a)
The Commitments and the Swing Line Commitments shall be automatically terminated
on the Termination Date.

                  (b) The Borrowers shall have the right at any time prior to
the Termination Date, upon at least three Business Days' notice to the
Administrative

<Page>

                                                                              20

Agent, to terminate in whole or reduce ratably in part the unused portion of
the Facility (such unused portion being determined by subtracting the
Facility Usage from the Facility); PROVIDED, HOWEVER, that each partial
reduction shall be in an amount not less than $25,000,000 or an integral
multiple of $5,000,000 in excess thereof; PROVIDED FURTHER, HOWEVER, that the
Commitments shall not in any event be reduced to an amount less than the
Swing Line Commitments. Each notice delivered by the Borrowers pursuant to
this Section 2.05(b) shall be irrevocable; PROVIDED that a notice of
termination of the Commitments delivered by the Borrowers may state that such
notice is conditioned upon the effectiveness of other credit facilities, in
which case such notice may be revoked by the Borrowers (by notice to the
Administrative Agent on or prior to the specified effective date) if such
condition is not satisfied.

                  (c) Each reduction in the aggregate Commitments hereunder
shall be made ratably among the Lenders in accordance with their respective
Commitments. The Borrowers agree, jointly and severally, to pay to the
Administrative Agent for the account of the Lenders, on the date of each
termination or reduction, the facility fees on the amount of the Commitments so
terminated or reduced accrued to the date of such termination or reduction. Each
reduction in the aggregate Swing Line Commitments hereunder shall be made
ratably among the Swing Line Banks in accordance with their respective Swing
Line Commitments.

                  (d) Upon at least three Business Days' irrevocable notice to
the Administrative Agent, the Borrowers may at any time prior to the Termination
Date in whole permanently terminate, or from time to time in part permanently
reduce, the Swing Line Commitments; PROVIDED, HOWEVER, that (i) any outstanding
Swing Line Advances that would exceed the reduced or terminated Swing Line
Commitments must be prepaid in accordance with Section 2.10(b) and (ii) each
partial reduction of the Swing Line Commitments shall be in an integral multiple
of $5,000,000.

                  (e) Upon at least three Business Days' irrevocable notice to
the Administrative Agent, each Borrower may at any time prior to the Termination
Date in whole permanently terminate such Borrower's rights to borrow under this
Agreement; PROVIDED, HOWEVER, that any outstanding Advances made to such
Borrower, all accrued and unpaid interest thereon and all other amounts owed by
such Borrower hereunder (including indemnities with respect to any payments in
connection with such termination) shall be paid in full on or before the
effective date of any such termination in accordance with the terms hereof.

                  SECTION 2.06. REPAYMENT OF ADVANCES. (a) REVOLVING CREDIT
ADVANCES. The principal amount of each Revolving Credit Advance made to either
Borrower shall become due and payable, and such Borrower agrees to pay the
outstanding principal balance of each such Advance, on the Maturity Date.

                  (b) SWING LINE ADVANCES. Each Borrower shall repay the
outstanding principal amount of any Swing Line Advance made to it on the earlier
of (i) the date that is five Business Days after the date on which such Swing
Line Advance was made and (ii) the Termination Date.

                  (c) AUCTION BID ADVANCES. Each Borrower shall repay the
aggregate principal amount of each Auction Bid Advance made to it on the earlier
of (i) the last day of the Interest Period applicable to such Auction Bid
Advance and (ii) the Termination Date.

<Page>

                                                                              21

                  (d) Each Lender and each Swing Line Bank shall, and is hereby
authorized by each Borrower to, maintain in accordance with its usual practice
records evidencing the indebtedness of such Borrower to such Lender hereunder
from time to time, including the amounts and Types of and Interest Periods
applicable to the Advances made by such Lender from time to time and the amounts
of principal and interest paid to such Lender from time to time in respect of
such Advances.

                  (e) The entries made in the records maintained pursuant to
paragraph (d) of this Section 2.06 and in the Register maintained by the
Administrative Agent pursuant to Section 8.07(d) shall be PRIMA FACIE evidence
of the existence and amounts of the obligations of each Borrower to which such
entries relate; PROVIDED, HOWEVER, that the failure of any Lender, any Swing
Line Bank or the Administrative Agent to maintain or to make any entry in
such records or the Register, as applicable, or any error therein, shall not
in any manner affect the obligations of such Borrower to repay the Advances
in accordance with the terms of this Agreement.

                  SECTION 2.07. INTEREST. (a) ORDINARY INTEREST. Each Borrower
shall pay interest on the unpaid principal amount of each Advance owed by it to
each Lender from the date of such Advance until such principal amount shall
become due and payable, at the following rates per annum:

                  (i) BASE RATE ADVANCES. If such Advance is a Base Rate Advance
         (including a Swing Line Advance), a rate per annum for any day during
         the applicable Interest Period equal to the Base Rate in effect from
         time to time during such Interest Period, payable in arrears on the
         last day of such Interest Period and, if such Interest Period has a
         duration of six months, on the day which occurs during such Interest
         Period three months from the first day of such Interest Period.

                  (ii) EURODOLLAR RATE ADVANCES. If such Advance is a Eurodollar
         Rate Advance, a rate per annum for any day during the applicable
         Interest Period equal to the sum of (A) the Eurodollar Rate determined
         by Chase to be in effect for the Interest Period applicable to such
         Eurodollar Rate Advance plus (B) in the case of each Eurodollar
         Revolving Credit Advance, the Applicable Rate in effect from time to
         time during such Interest Period, and, in the case of each Eurodollar
         Auction Bid Advance, the Margin (which may be negative) applicable to
         such Advance, in each case payable in arrears on the last day of such
         Interest Period and, if such Interest Period has a duration of six
         months, on the day which occurs during such Interest Period three
         months from the first day of such Interest Period.

                  (iii) FIXED RATE ADVANCES. If such Advance is a Fixed Rate
         Advance, a rate per annum equal to the Fixed Rate applicable to such
         Advance, payable in arrears on the last day of the Interest Period
         applicable to such Fixed Rate Advance and, if such Interest Period has
         a duration of more than 90 days, on each day which occurs during such
         Interest Period every 90 days from the first day of such Interest
         Period.

                  (b) DEFAULT INTEREST. Each Borrower shall pay interest on the
unpaid principal amount of each Advance made to it that is not paid when due
and, to the extent permitted by law, on the unpaid amount of all interest, fees
and other amounts payable hereunder by it that is not paid when due, payable on
demand, at a rate per annum equal at all times to (i) in the case of any amount
of principal, the greater of

<Page>

                                                                              22

(A) 2% per annum above the rate per annum required to be paid on such Advance
immediately prior to the date on which such amount became due and (B) 2% per
annum above the Base Rate in effect from time to time and (ii) in the case of
all other amounts, 2% per annum above the Base Rate in effect from time to time.

                  SECTION 2.08. ADDITIONAL INTEREST ON EURODOLLAR RATE ADVANCES.
The applicable Borrower shall pay to each Lender, so long as such Lender shall
be required under regulations of the Board of Governors of the Federal Reserve
System to maintain reserves with respect to liabilities or assets consisting of
or including Eurocurrency Liabilities, additional interest on the unpaid
principal amount of each Eurodollar Rate Advance of such Lender, from the date
of such Advance until such principal amount is paid in full, at an interest rate
per annum equal at all times to the remainder obtained by subtracting (i) the
Eurodollar Rate for the Interest Period for such Advance from (ii) the rate
obtained by dividing such Eurodollar Rate by a percentage equal to 100% minus
the Eurodollar Rate Reserve Percentage of such Lender for such Interest Period,
payable on each date on which interest is payable on such Advance. Such
additional interest shall be determined by such Lender and notified to the
applicable Borrower through the Administrative Agent.

                  SECTION 2.09. INTEREST RATE DETERMINATION. The Administrative
Agent shall give prompt notice to the applicable Borrower and the Appropriate
Lenders of the applicable Eurodollar Rate determined by Chase hereunder in
respect of each Interest Period for Eurodollar Rate Advances. The failure of the
Administrative Agent to give notice to the applicable Borrower pursuant to this
Section 2.09 shall not relieve such Borrower from its obligation to pay any
interest in accordance with the terms of this Agreement.

                  SECTION 2.10. PREPAYMENTS. (a) The Borrowers shall have no
right to prepay (i) any principal amount of any Revolving Credit Advances other
than as provided in subsection (b) below or (ii) any Auction Bid Advances.

                  (b) Each Borrower may, upon irrevocable notice given to the
Administrative Agent not later than 10:00 a.m. (New York City time) on the third
Business Day prior to the date of the proposed prepayment in the case of a
Eurodollar Rate Advance, and on the first Business Day prior to the date of the
proposed prepayment in the case of Base Rate Advances and Swing Line Advances,
stating the proposed date and aggregate principal amount of the prepayment, and
if such notice is given such Borrower shall, prepay the outstanding principal
amounts of the Advances made to it comprising part of the same Borrowing in
whole or ratably in part, together with accrued interest to the date of such
prepayment on the principal amount prepaid; PROVIDED, HOWEVER, that (x) each
partial prepayment shall be in an aggregate principal amount not less than
$25,000,000 or an integral multiple of $5,000,000 in excess thereof and (y) in
the case of any such prepayment of a Eurodollar Rate Advance, such Borrower
shall be obligated to reimburse the Lenders in respect thereof pursuant to
Section 8.04(c). Any prepayment of Advances after the Termination Date shall be
permanent, and no portion of Advances prepaid after the Termination Date may be
re-borrowed hereunder.

                  SECTION 2.11. INCREASED COSTS. (a) If, due to either (i) the
introduction of or any change (other than any change by way of imposition or
increase of reserve requirements, in the case of Eurodollar Rate Advances,
included in the Eurodollar Rate Reserve Percentage) in or in the interpretation
of any law or regulation or (ii) the compliance with any guideline or request
from any central bank or other governmental authority (whether or not having the
force of law), there shall

<Page>

                                                                              23

be any increase in the cost to any Lender of agreeing to make or making,
funding or maintaining Eurodollar Rate Advances or Fixed Rate Advances, then
the applicable Borrower, in the case of outstanding Advances, and each
Borrower, jointly and severally, in all other cases, agrees from time to
time, upon demand by such Lender (with a copy of such demand to the
Administrative Agent), to pay to the Administrative Agent for the account of
such Lender additional amounts sufficient to compensate such Lender for such
increased cost; PROVIDED, HOWEVER, that, before making any such demand, each
Lender agrees to use reasonable efforts (consistent with its internal policy
and legal and regulatory restrictions) to designate a different Applicable
Lending Office if the making of such a designation would avoid the need for,
or reduce the amount of, such increased cost and would not, in the reasonable
judgment of such Lender, be otherwise disadvantageous to such Lender. A
certificate as to the amount of such increased cost, submitted to the
applicable Borrower or the Borrowers, as the case may be, and the
Administrative Agent by such Lender, shall be conclusive and binding for all
purposes, absent manifest error.

                  (b) If any Lender determines that the adoption after the date
hereof of any applicable law, rule, regulation or guideline regarding minimum
capital, or any change therein, or any change in the interpretation or
administration thereof by any governmental authority, central bank or comparable
agency charged with the interpretation or administration thereof (whether or not
having the force of law) or compliance by any Lender with any such adoption or
change has the effect of reducing the rate of return on capital for such Lender
or any corporation controlling such Lender as a consequence of its Commitment or
Swing Line Commitment to lend hereunder to a level below that which such Lender
or such corporation could have achieved but for such adoption, change or
compliance, then from time to time, upon demand by such Lender, the Borrowers
agree, jointly and severally, to pay to such Lender such additional amount or
amounts as will compensate such Lender for such reduction.

                  SECTION 2.12. ILLEGALITY. Notwithstanding any other provision
of this Agreement, if any Lender shall in good faith determine that the
introduction of or any change in or in the interpretation of any law or
regulation makes it unlawful, or any central bank or other governmental
authority asserts that it is unlawful, for such Lender or its Eurodollar Lending
Office to perform its obligations hereunder to make Eurodollar Rate Advances or
to fund or maintain Eurodollar Rate Advances hereunder, such Lender shall so
notify the Borrowers and the Administrative Agent. Before giving any such notice
to the Borrowers pursuant to this Section, such Lender shall use reasonable
efforts (consistent with its internal policy and legal and regulatory
restrictions) to designate a different lending office if such designation will
avoid the need for giving such notice and would not, in the judgment of such
Lender, be otherwise disadvantageous to such Lender. Upon receipt of such
notice, (i) each then outstanding Eurodollar Rate Advance of such Lender shall
automatically convert to a Base Rate Advance and shall be maintained as a Base
Rate Advance through the last day of the Interest Period applicable thereto,
(ii) such Lender shall not submit an Auction Bid in response to a request for
Eurodollar Auction Bid Advances, and (iii) the obligation of such Lender to make
Eurodollar Rate Advances shall be suspended until such Lender shall notify the
Borrowers and the Administrative Agent that the circumstances causing such
suspension no longer exist. Without limiting the Borrowers' rights under Section
2.16, if at any time after such Lender gives notice of a determination as
provided above in this Section 2.12, a Borrower notifies the Administrative
Agent that it wishes to make a Borrowing consisting of Eurodollar Rate Advances
(or if at the time of such notice, a Borrower has previously notified the
Administrative Agent of such a Borrowing, but such Borrowing has not yet been

<Page>

                                                                              24

made), such notification of Borrowing shall be deemed to request that such
Lender (and only such Lender) make an Advance in the form of a Base Rate
Advance for the Interest Period corresponding to the Interest Period
applicable to the Eurodollar Rate Advances to be made by the other Lenders.

                  SECTION 2.13. PAYMENTS AND COMPUTATIONS. (a) Each Borrower
shall make each payment hereunder not later than 11:00 a.m. (New York City time)
on the day when due in U.S. dollars to the Administrative Agent at its address
referred to in Section 8.02 in same day funds. Except as required under Section
2.12, each Revolving Credit Borrowing, each payment or prepayment of principal
of any Revolving Credit Borrowing, each payment of the facility fees, each
reduction of the Commitments and each conversion or continuation of any
Revolving Credit Borrowing with a Revolving Credit Borrowing of any Type, shall
be allocated pro rata among the Lenders in accordance with their respective
Commitments (or, if such Commitments shall have expired or been terminated, in
accordance with the respective principal amounts of their outstanding Revolving
Credit Advances). Each payment of principal of any Auction Bid Borrowing shall
be allocated pro rata among the Lenders participating in such Borrowing in
accordance with the respective principal amounts of their outstanding Auction
Bid Advances comprising such Borrowing. Each payment of interest on any Auction
Bid Borrowing shall be allocated pro rata among the Lenders participating in
such Borrowing in accordance with the respective amounts of accrued and unpaid
interest on their outstanding Auction Bid Advances comprising such Borrowing.
For purposes of determining the available Commitments of the Lenders at any
time, each outstanding Auction Bid Borrowing and each outstanding Swing Line
Borrowing shall be deemed to have utilized the Commitments of the Lenders
(including those Lenders which shall not have made Swing Line Advances or shall
not have made Advances as part of such Auction Bid Borrowing) pro rata in
accordance with such respective Commitments; provided, HOWEVER, that the
Commitments so deemed to be utilized shall in any event be available for the
purpose of refinancing such Borrowing or such Swing Line Borrowing, as the case
may be. Each Lender agrees that in computing such Lender's portion of any
Borrowing to be made hereunder, the Administrative Agent may, in its
discretion, round each Lender's percentage of such Borrowing to the next higher
or lower whole dollar amount. Upon its acceptance of an Assignment and
Acceptance and recording of the information contained therein in the Register
pursuant to Section 8.07(d), from and after the effective date specified in such
Assignment and Acceptance, the Administrative Agent shall make all payments
hereunder in respect of the interest assigned thereby to the Lender assignee
thereunder, and the parties to such Assignment and Acceptance shall make all
appropriate adjustments in such payments for periods prior to such effective
date directly between themselves.

                  (b) All computations of interest pursuant to Section 2.07 and
of fees payable hereunder shall be made by the Administrative Agent, and all
computations of interest pursuant to Section 2.08, shall be made by a Lender, on
the basis of a year of 360 days, in each case for the actual number of days
(including the first day but excluding the last day) occurring in the period for
which such interest or fees are payable; PROVIDED, HOWEVER, that all
computations of interest based on the Base Rate when the Base Rate is determined
by reference to paragraph (a) of the definition thereof shall be made by the
Administrative Agent on the basis of a year of 365 or 366 days, as applicable,
in each case for the actual number of days (including the first day but
excluding the last day) occurring in the period for which such interest is
payable. Each determination by the Administrative Agent (or, in the case of
Section 2.08, by a Lender) of an interest rate hereunder shall be conclusive and
binding for all purposes, absent manifest error.

<Page>

                                                                              25

                  (c) Whenever any payment hereunder shall be stated to be due
on a day other than a Business Day, such payment shall be made on the next
succeeding Business Day, and such extension of time shall in such case be
included in the computation of payment of interest or fees, as the case may be;
PROVIDED, HOWEVER, that, if such extension would cause payment of interest on or
principal of Eurodollar Rate Advances to be made in the next following calendar
month, such payment shall be made on the next preceding Business Day.

                  (d) Unless the Administrative Agent shall have received notice
from a Borrower prior to the date on which any payment is due to the Lenders
hereunder that such Borrower will not make such payment in full, the
Administrative Agent may assume that such Borrower has made such payment in full
to the Administrative Agent on such date and the Administrative Agent may, in
reliance upon such assumption, cause to be distributed to each Lender on such
due date an amount equal to the amount then due such Lender. If and to the
extent that a Borrower shall not have so made such payment in full to the
Administrative Agent, each Lender shall repay to the Administrative Agent
forthwith on demand such amount distributed to such Lender together with
interest thereon, for each day from the date such amount is distributed to such
Lender until the date such Lender repays such amount to the Administrative
Agent, at the Federal Funds Rate.

                  SECTION 2.14. TAXES. (a) Any and all payments by a Borrower
hereunder shall be made, in accordance with Section 2.13, free and clear of and
without deduction for any and all present or future taxes, levies, imposts,
deductions, charges or withholdings, and all liabilities with respect
thereto, EXCLUDING, in the case of each Lender and the Administrative Agent,
taxes imposed on or measured by its net income, and franchise taxes imposed
on it, by the jurisdiction under the laws of which such Lender or the
Administrative Agent (as the case may be) is organized or any political
subdivision thereof and, in the case of each Lender, taxes imposed on or
measured by its net income, and franchise taxes imposed on it, by the
jurisdiction of such Lender's Applicable Lending Office or any political
subdivision thereof (all such non-excluded taxes, levies, imposts,
deductions, charges, withholdings and liabilities being hereinafter referred
to as "Taxes"). If a Borrower shall be required by law to deduct any Taxes
from or in respect of any sum payable hereunder to any Lender or the
Administrative Agent, (i) the sum payable shall be increased as may be
necessary so that after making all required deductions (including deductions
applicable to additional sums payable under this Section 2.14) such Lender or
the Administrative Agent (as the case may be) receives an amount equal to the
sum it would have received had no such deductions been made, (ii) such
Borrower shall make such deductions and (iii) such Borrower shall pay the
full amount deducted to the relevant taxation authority or other authority in
accordance with applicable law.

                  (b) In addition, the Borrowers agree, jointly and severally,
to pay any present or future stamp or documentary taxes or any other excise or
property taxes, charges or similar levies which arise from any payment made
hereunder or from the execution, delivery, enforcement or registration of, or
otherwise with respect to, this Agreement (hereinafter referred to as "Other
Taxes").

                  (c) Without duplication with respect to any amounts paid
pursuant to Section 2.14(a) or (b), to the extent attributable to an Advance
made to a Borrower, such Borrower will, and in each other case, the Borrowers
will, on a joint and several basis, indemnify each Lender, each Swing Line Bank
and the Administrative Agent for the full amount of Taxes or Other Taxes
(including, without limitation, any Taxes or Other Taxes imposed by any
jurisdiction on amounts payable under this

<Page>

                                                                              26

Section 2.14) paid by such Lender, such Swing Line Bank or the Administrative
Agent (as the case may be) and any liability (including penalties, interest
and expenses) arising therefrom or with respect thereto, whether or not such
Taxes or Other Taxes were correctly or legally asserted. This indemnification
shall be made within 30 days from the date such Lender, such Swing Line Bank
or the Administrative Agent (as the case may be) makes written demand
therefor.

                  (d) Within 30 days after the date of any payment of Taxes, the
applicable Borrower will furnish to the Administrative Agent, at its address
referred to in Section 8.02, the original or a certified copy of a receipt
evidencing payment thereof. If any payment hereunder is to be made by a Borrower
through an account or branch outside the United States or on behalf of a
Borrower by a payor that is not a United States person and if no taxes are
payable with respect to such payment, such Borrower will, upon the request of
the Majority Lenders, furnish, or will cause the payor to furnish, to the
Administrative Agent, at such address, a certificate from each appropriate
taxing authority, or an opinion of counsel acceptable to the Administrative
Agent, in either case stating that such payment is exempt from or not subject
to Taxes. For purposes of this subsection (d) and subsection (e), the terms
"United States" and "United States person" shall have the meanings specified
in Section 7701 of the Internal Revenue Code of 1986, as amended.

                  (e) Each Lender that is organized under the laws of any
jurisdiction other than the United States of America or any political
subdivision thereof (a "Non-U.S. Lender") shall deliver to the Borrowers and the
Administrative Agent (i) two copies of either United States Internal Revenue
Service Form W-8BEN or Form W-8ECI or (ii) in the case of a Non-U.S. Lender
claiming exemption from Federal withholding tax under Section 871(h) or 881(c)
of the United States Internal Revenue Code (the "Code") with respect to payments
of "portfolio interest", a Form W-8BEN or any successor form accompanied by a
certificate representing that such Non-U.S. Lender is not a bank for purposes of
Section 881(c) of the Code, is not a ten percent shareholder of either Borrower
within the meaning of 871(h)(3)(B) of the Code and is not a controlled foreign
corporation related to either Borrower within the meaning of Section 864(d)(4)
of the Code. Such forms shall be properly executed and delivered to the
Borrowers on or before the date upon which such Non-U.S. Lender becomes a party
to this Agreement (or, in the case of a Non-U.S. Lender that is an assignee or
participant, on or before the date of assignment or transfer) or, in the event
that such Non-U.S. Lender changes its applicable lending office, the date such
new lending office is designated. In addition, each Non-U.S. Lender shall
deliver successor forms promptly upon the obsolescence or invalidity of any form
previously delivered by such Non-U.S. Lender.

                  (f) For any period with respect to which a Lender has failed
to provide a Borrower with the appropriate form described in Section 2.14(e)
(OTHER THAN if such failure is due to a change in law occurring subsequent to
the date on which a form originally was required to be provided, or if such form
otherwise is not required under the first sentence of subsection (e) above),
such Lender shall not be entitled to indemnification under Section 2.14(c) with
respect to Taxes imposed by the United States; PROVIDED, HOWEVER, that, should a
Lender become subject to Taxes because of its failure to deliver a form required
hereunder, the applicable Borrower shall take such steps (at the expense of such
Lender) as such Lender shall reasonably request to assist such Lender to recover
such Taxes.

                  (g) Subject to compliance with Section 8.07, in the event that
a Lender that originally provided such form as may be required under Section
2.14(e) thereafter

<Page>

                                                                              27

ceases to qualify for complete exemption from United States withholding tax,
such Lender may assign its interest under this Agreement to any assignee and
such assignee shall be entitled to the same benefits under this Section 2.14
as the assignor provided that (i) the rate of United States withholding tax
applicable to such assignee shall not exceed the rate then applicable to the
assignor and (ii) in the reasonable judgment of such Lender, such assignment
will not subject such Lender to any unreimbursed cost or be otherwise
disadvantageous to such Lender.

                  (h) Any Lender claiming any additional amounts payable
pursuant to this Section 2.14 shall use reasonable efforts (consistent with its
internal policy and legal and regulatory restrictions) to change the
jurisdiction of its Eurodollar Lending Office if the making of such a change
would avoid the need for, or reduce the amount of, any such additional amounts
that may thereafter accrue and would not, in the reasonable judgment of such
Lender, be otherwise disadvantageous to such Lender.

                  (i) Without prejudice to the survival of any other agreement
of the Borrowers hereunder, the agreements and obligations of the Borrowers
contained in this Section 2.14 shall survive the payment in full of principal
and interest hereunder.

                  SECTION 2.15. SHARING OF PAYMENTS, ETC. If any Lender shall
obtain any payment (whether voluntary, involuntary, through the exercise of any
right of set-off, or otherwise) on account of the Revolving Credit Advances made
by it (other than pursuant to Section 2.03(b), 2.08, 2.11, 2.14, 2.16 or 2.18)
to either Borrower in excess of its ratable share of payments on account of the
Revolving Credit Advances to such Borrower obtained by all the Lenders, such
Lender shall forthwith purchase from the other Lenders such participations in
the Revolving Credit Advances to such Borrower made by them as shall be
necessary to cause such purchasing Lender to share the excess payment ratably
with each of them; PROVIDED, HOWEVER, that, if all or any portion of such excess
payment is thereafter recovered from such purchasing Lender, such purchase from
each Lender shall be rescinded and such Lender shall repay to the purchasing
Lender the purchase price to the extent of such recovery together with an amount
equal to such Lender's ratable share (according to the proportion of (i) the
amount of such Lender's required repayment to (ii) the total amount so recovered
from the purchasing Lender) of any interest or other amount paid or payable by
the purchasing Lender in respect of the total amount so recovered. The foregoing
provisions shall apply equally to payments obtained in respect of Unrefunded
Swing Line Advance participations held by the Lenders pursuant to Section
2.01(b)(iii), with the same effect as if each reference in the immediately
preceding sentence to "Revolving Credit Advances" of a Borrower were a reference
to participations in Unrefunded Swing Line Advances of such Borrower. Each
Borrower agrees that any Lender so purchasing a participation from another
Lender pursuant to this Section 2.15 may, to the fullest extent permitted by
law, exercise all its rights of payment (including the right of set-off) with
respect to such participation as fully as if such Lender were the direct
creditor of such Borrower in the amount of such participation.

                  SECTION 2.16. SUBSTITUTION OF LENDERS. If (i) any Lender shall
request payment by a Borrower of any amounts payable by such Borrower pursuant
to Section 2.11 or 2.14 and at such time additional amounts payable by a
Borrower to such Lender pursuant to Section 2.11 or 2.14 shall continue to
accrue or (ii) any Lender's obligation to make Eurodollar Rate Advances shall be
suspended pursuant to Section 2.12, then, in each case, the Borrowers may demand
that such Lender assign its rights and obligations hereunder to one or more
Eligible Assignees selected by the Borrowers in accordance with Section 8.07;
PROVIDED, HOWEVER, that no Lender shall

<Page>

                                                                              28

be obligated to make any such assignment as a result of a demand by the
Borrowers unless and until such Lender shall have received one or more
payments from the Borrowers or one or more Eligible Assignees in an aggregate
amount at least equal to the aggregate outstanding principal amount of the
Advances owing to such Lender, together with accrued interest and accrued
fees thereon to the date of payment of such principal amount and all other
amounts payable to such Lender under this Agreement.

                  SECTION 2.17. USE OF PROCEEDS. The proceeds of the Advances
shall be available (and each Borrower agrees that it shall use such proceeds)
for general corporate purposes outside of Switzerland.

                  SECTION 2.18. EXTENSION OF TERMINATION DATE AND MATURITY DATE.
(a) The Borrowers may, by delivery to the Administrative Agent of a written
request of extension (a "Request of Extension") in substantially the form of
Exhibit C, given no earlier than 45 days and no later than 30 days prior to May
24, 2002 (the "First Extension Date") and, if the Termination Date shall have
been extended pursuant hereto on the First Extension Date, May 23, 2003 (the
"Second Extension Date"; and together with the First Extension Date, each an
"Extension Date"), respectively, request that each Lender agree to extend the
Termination Date applicable to its Commitment by, in the case of the First
Extension Date, 364 days and, in the case of the Second Extension Date, an
additional 364 days. Each Lender shall respond by returning a completed Request
of Extension to the Administrative Agent no earlier than 30 days and no later
than 15 days prior to the Extension Date identified in such Request of
Extension, and the Administrative Agent shall promptly but in no event later
than such 10th day prior to such Extension Date, notify the Borrowers as to each
Lender's response. A failure on the part of any Lender to return a completed
Request of Extension hereunder shall be deemed a rejection by such Lender of
such Request of Extension. If on the 10th day prior to the Extension Date
identified in such Request of Extension, the Majority Lenders (determined as of
such 10th day) shall have agreed to such extension, then the Termination Date
shall, on such Extension Date, become the date which is 364 days from such
Extension Date and the Maturity Date shall become the date which is one year
after such new Termination Date, in each case as to each Lender which agreed to
such extension; PROVIDED, HOWEVER, that such extension of the Termination Date
and the Maturity Date shall not become effective as to any Lender which did not
agree to such extension. If on such 10th day the Majority Lenders (determined as
of such 10th day) shall not have agreed to such extension, such extension shall
not become effective as to any Lender.

                  (b) If on the 10th day referred to above, the Majority Lenders
(determined as of such 10th day) have approved such extension, but any Lender
has notified the Administrative Agent that such Lender does not agree to an
extension requested by a Request of Extension, the Borrowers may demand such
Lender to assign, pursuant to Section 8.07, all or a portion of its rights and
obligations under this Agreement (including, without limitation, all or a
portion of its Commitment and the Advances owing it) to an Eligible Assignee,
with such assignment to be consummated before the 5th day prior to such
Extension Date identified in such Request of Extension; PROVIDED, HOWEVER,
that no Lender shall be obligated to make any such assignment as a result of
a demand by the Borrowers unless and until such Lender shall have received
one or more payments from the applicable Borrowers or one or more Eligible
Assignees in an aggregate amount at least equal to the aggregate outstanding
principal amount of the Advances owing to such Lender, together with accrued
interest and accrued fees thereon to the date of payment of such principal
amount and all other amounts payable to such Lender under this Agreement.

<Page>

                                                                              29

                  SECTION 2.19. CONVERSION AND CONTINUATION OF REVOLVING CREDIT
BORROWINGS. Each Borrower shall have the right at any time upon prior
irrevocable notice to the Administrative Agent (i) not later than 11:00 a.m.,
New York City time, one Business Day prior to conversion, to convert any
Revolving Credit Borrowing of such Borrower into a Borrowing consisting of Base
Rate Advances and (ii) not later than 11:00 a.m., New York City time, three
Business Days prior to conversion or continuation, to convert any Revolving
Credit Borrowing of such Borrower into a Borrowing consisting of Eurodollar Rate
Advances or to continue any Borrowing consisting of Eurodollar Rate Advances to
such Borrower for an additional Interest Period, subject in each case to the
following:

                  (a) each conversion or continuation shall be made pro rata
         among the Lenders in accordance with the respective principal amounts
         of the Advances comprising the converted or continued Borrowing;

                  (b) less than all the outstanding principal amount of any
         Borrowing may be converted or continued, but in such case the aggregate
         principal amount of such Borrowing converted or continued shall be an
         integral multiple of $5,000,000 and not less than $25,000,000;

                  (c) accrued interest on an Advance (or portion thereof) being
         converted shall be paid by the applicable Borrower at the time of
         conversion;

                  (d) if any Borrowing consisting of Eurodollar Rate Advances is
         converted at a time other than the end of the Interest Period
         applicable thereto, the applicable Borrower shall pay, upon demand, any
         amounts due to the Lenders pursuant to Section 8.04(c) as a result of
         such conversion;

                  (e) any portion of a Borrowing maturing or required to be
         repaid in less than one month or 30 days, respectively, may not be
         converted into or continued as a Borrowing consisting of Eurodollar
         Rate Advances;

                  (f) any portion of a Borrowing consisting of Eurodollar Rate
         Advances which cannot be continued as such by reason of clause (e)
         above shall be automatically converted at the end of the Interest
         Period in effect for such Borrowing into a Revolving Credit Borrowing
         consisting of Base Rate Advances;

                  (g) no Interest Period may be selected for any Borrowing that
         would end later than the Maturity Date; and

                  (h) at any time when there shall have occurred and be
         continuing any Default or Event of Default, no Borrowing may be
         converted into or continued as a Eurodollar Rate Advance.

                  Each notice pursuant to this Section 2.19 shall be irrevocable
and shall refer to this Agreement and specify (i) the identity and amount of the
Revolving Credit Borrowing that the applicable Borrower requests to be converted
or continued, (ii) the Type of Advances into which such Borrowing is to be
converted to or continued, (iii) if such notice requests a conversion, the date
of such conversion (which shall be a Business Day) and (iv) if such Borrowing is
to be converted to or continued as a Borrowing consisting of Eurodollar Rate
Advances, the Interest Period with respect thereto. If no Interest Period is
specified in any such notice with respect to any conversion to or continuation
as a Borrowing consisting of Eurodollar Rate

<Page>

                                                                              30

Advances, the applicable Borrower shall be deemed to have selected an
Interest Period of one month's duration. The Administrative Agent shall
advise the other Lenders of any notice given pursuant to this Section 2.19
and of each Lender's portion of any converted or continued Borrowing. If the
applicable Borrower shall not have given notice in accordance with this
Section to continue any Borrowing into a subsequent Interest Period (and
shall not otherwise have given notice in accordance with this Section to
convert such Borrowing), such Borrowing shall, at the end of the Interest
Period applicable thereto (unless repaid pursuant to the terms hereof),
automatically be continued into a new Interest Period as a Base Rate
Borrowing.

                                   ARTICLE III

                              CONDITIONS OF LENDING

                  SECTION 3.01. CONDITIONS OF EFFECTIVENESS. This Agreement
shall become effective as of May 25, 2001, when, and only when, before 3:00 p.m.
May 25, 2001, (x) the Existing Credit Agreements shall have been terminated and
all indebtedness and other monetary obligations thereunder shall have been
repaid in full by the borrowers thereunder and (y) the Administrative Agent
shall have received (i) counterparts of this Agreement executed by the
Borrowers, the Administrative Agent and each Lender, (ii) counterparts of the
Guarantee executed by the Guarantor and the Administrative Agent and (iii) all
of the following documents, each document (unless otherwise indicated) being
dated the date of receipt thereof by the Administrative Agent (which date shall
be the same for all such documents except as otherwise approved by the
Administrative Agent), in form and substance satisfactory to the Administrative
Agent:

                  (a) Certified copies of the resolutions of the Board of
         Directors of each Borrower approving or authorizing approval of the
         execution, delivery and performance of this Agreement and of all
         documents evidencing other necessary corporate action and governmental
         and regulatory approvals, if any, with respect to this Agreement.

                  (b) A certificate of the Secretary or an Assistant Secretary
         of each Borrower certifying the names and true signatures of the
         officers of such Borrower authorized to sign this Agreement and the
         other documents to be delivered hereunder.

                  (c) a certificate or certificates of an appropriate officer of
         the jurisdiction of organization of each Borrower, dated as of a date
         reasonably near the Effective Date, attaching the certificate of
         incorporation or other constitutive documents of such Borrower and each
         amendment thereto on file in his office and certifying that (i) such
         certificate of incorporation or other constitutive documents are true
         and complete copies thereof, (ii) such amendments (if any) are the only
         amendments to such certificate of incorporation or other constitutive
         documents on file in his office, (iii) such Borrower has paid all
         franchise taxes to the date of such certificate and (iv) such Borrower
         is duly incorporated and in good standing under the laws of such
         jurisdiction; and

                  (d) A favorable opinion of each of Cleary, Gottlieb, Steen &
         Hamilton, Joseph T. McLaughlin, Esq., General Counsel of the Borrowers,
         and Niederer Kraft & Frey, counsel for the Guarantor, substantially in
         the

<Page>

                                                                              31

         form of Exhibit D-1, D-2, and D-3, respectively, and as to such
         other matters as any Lender and any Swing Line Bank through the
         Administrative Agent may reasonably request.

                  (e)(i) Certified copies of the resolutions of the Board of
         Directors of the Guarantor approving or authorizing approval of the
         execution, delivery and performance of the Guarantee and of all
         documents evidencing other necessary corporate action and governmental
         and regulatory approvals, if any, with respect to the Guarantee.

                  (ii) A certificate of the Secretary, an Assistant Secretary, a
         Director or another officer of the Guarantor certifying the names of
         the officers of the Guarantor authorized to sign the Guarantee and the
         other documents to be delivered thereunder.

                  (iii) A certificate from the jurisdiction of domicile of the
         Guarantor as to registration and incorporation of the Guarantor, dated
         as of a date reasonably near the Effective Date, and a certified copy
         of the By-Laws of the Guarantor as presently in force and on file in
         such jurisdiction.

                  SECTION 3.02. CONDITIONS PRECEDENT TO EACH BORROWING. The
obligation of each Lender to make an Advance on the occasion of each Borrowing
(including the initial Borrowing) and the obligation of the Swing Line Banks to
make Swing Line Advances hereunder shall be subject to the further conditions
precedent that on the date of such Borrowing: (a) the following statements shall
be true (and each of the giving of the applicable Notice of Borrowing and the
acceptance by the applicable Borrower of the proceeds of such Borrowing shall
constitute a representation and warranty by such Borrower that on the date of
such Borrowing such statements (other than any such statements with respect to
representations and warranties made by the other Borrower) are true):

                  (i) The representations and warranties contained in Article
         III of the Guarantee (excluding that set forth in the last sentence of
         Section 3.05 thereof) and contained in Article IV hereof (excluding
         that contained in Section 4.01(l)) are correct on and as of the date of
         such Borrowing, before and after giving effect to such Borrowing and to
         the application of the proceeds therefrom, as though made on and as of
         such date, and

                  (ii) No Default has occurred and is continuing, or would
         result from such Borrowing or from the application of the proceeds
         therefrom; and

                  (b) the Administrative Agent shall have received such other
approvals, opinions or documents as the Majority Lenders through the
Administrative Agent may reasonably request. During the term of this Agreement
(whether or not any Advances are outstanding hereunder), each Lender shall use
reasonable efforts to promptly notify the Borrowers of any approvals, opinions
or documents which such Lender may thereafter request pursuant to this clause
(b) of Section 3.02.

<Page>

                                                                              32

                                   ARTICLE IV

                         REPRESENTATIONS AND WARRANTIES

                  SECTION 4.01. REPRESENTATIONS AND WARRANTIES OF THE BORROWERS.
Each Borrower represents and warrants as follows:

                  (a) Such Borrower and each of its Principal Subsidiaries (i)
         is duly organized, validly existing and in good standing under the laws
         of the jurisdiction of its incorporation (or, if not a corporation, the
         jurisdiction of its organization), (ii) has all corporate power (or, in
         the case of any such Principal Subsidiary which is not a corporation,
         has all necessary power) to own its property and carry on its business
         as now being conducted and (iii) is duly qualified to do business and
         is in good standing in each jurisdiction in which it owns or leases
         property or in which the conduct of its business requires it to so
         qualify or be licensed except to the extent that failure to so qualify
         (or be so licensed or registered) does not and is not reasonably likely
         to have a material adverse effect on the consolidated financial
         condition or operations of the Guarantor and its Subsidiaries.

                  (b) The execution, delivery and performance by such Borrower
         of this Agreement are within such Borrower's corporate powers, have
         been duly authorized by all necessary corporate action, and do not and
         will not (i) contravene such Borrower's charter or by-laws, (ii)
         violate any law, rule, regulation, order, writ, judgment, injunction,
         decree, determination or award, (iii) conflict with or result in the
         breach of, or constitute a default under, any agreement to which such
         Borrower or any of its Principal Subsidiaries is a party or which is
         binding on such Borrower's or any of its Principal Subsidiaries'
         properties or (iv) result in or require the creation or imposition of
         any Lien upon or with respect to any of the properties of such Borrower
         or any of its Principal Subsidiaries.

                  (c) No authorization or approval or other action by, and no
         notice to or filing with, any governmental authority or regulatory body
         is required for the due execution, delivery and performance by such
         Borrower of this Agreement.

                  (d) This Agreement is a legal, valid and binding obligation of
         such Borrower enforceable against such Borrower in accordance with its
         terms.

                  (e) There is no pending or threatened action or proceeding
         affecting such Borrower or any Principal Subsidiary of such Borrower
         before any court, governmental agency or arbitrator, (i) which has or
         is likely to have a material adverse effect on the consolidated
         financial condition or business of the Guarantor and its Subsidiaries
         or (ii) which purports to affect the legality, validity or
         enforceability of this Agreement.

                  (f) Neither such Borrower nor the Guarantor is an "investment
         company", as such term is defined in the Investment Company Act of
         1940, as amended.

                  (g) No ERISA Event has occurred or is reasonably expected to
         occur with respect to any Plan of such Borrower or any of its ERISA
         Affiliates that has resulted in or is reasonably likely to result in
         liability of such Borrower or any of its ERISA Affiliates exceeding
         $30,000,000.

<Page>

                                                                              33

                  (h) Schedule B (Actuarial Information) to the most recent
         annual report (Form 5500 Series) for each Plan of such Borrower or any
         of its ERISA Affiliates at the time of such filing, copies of which
         have been filed with the Internal Revenue Service and furnished to the
         Banks, is complete and accurate and fairly presents the funding status
         of such Plan, and since the date of such Schedule B there has been no
         material adverse change in such funding status except any change that
         has been previously disclosed in writing to the Banks.

                  (i) Neither such Borrower nor any of its ERISA Affiliates has
         incurred or is reasonably expected to incur any Withdrawal Liability
         exceeding $30,000,000 to any Multiemployer Plan.

                  (j) Neither such Borrower nor any of its ERISA Affiliates has
         been notified by the sponsor of a Multiemployer Plan of such Borrower
         or any of its ERISA Affiliates that such Multiemployer Plan is in
         reorganization or has been terminated with a resulting Withdrawal
         Liability exceeding $30,000,000, within the meaning of Title IV of
         ERISA, and no such Multiemployer Plan is reasonably expected to be in
         reorganization or to be terminated, within the meaning of Title IV of
         ERISA, with a resulting Withdrawal Liability exceeding $30,000,000.

                  (k) No part of the proceeds of any Advance will be used in
         such a manner as to result in a violation of Section 7 of the
         Securities Exchange Act of 1934 or any of the margin regulations of the
         Board of Governors of the Federal Reserve System promulgated
         thereunder, including, without limitation, Regulations U, T and X
         thereunder.

                  (l) No material adverse change in the financial position or
         business of the Guarantor or the Guarantor and its Subsidiaries, on a
         consolidated basis, has occurred since December 31, 2000.

                  (m) Each CSFB Broker-Dealer is a registered broker-dealer in
         each jurisdiction in which it owns or leases property or in which the
         conduct of its business requires it to so register except to the extent
         that failure to so register does not and is not reasonably likely to
         have a material adverse effect on the financial condition or operations
         of such CSFB Broker-Dealer or the consolidated financial condition or
         operations of Credit Suisse Group and its Subsidiaries. Each CSFB
         Broker-Dealer is a member organization in good standing of the NYSE and
         the NASD and is duly registered as a broker-dealer with the Commission.

                  (n) The Part I FOCUS Reports of each CSFB Broker-Dealer for
         the quarter most recently ended, and for the month ended March 31,
         2001, each prepared in accordance with NYSE and Commission rules and
         regulations and generated from the same information used by such CSFB
         Broker-Dealer to prepare the Part II FOCUS Report filed with the NYSE
         or Commission for each such period, copies of which are to be furnished
         to each Bank, are correct in all material respects.

                  (o) Each CSFB Broker-Dealer is engaged, directly or
         indirectly, in the business of investment banking.

<Page>

                                                                              34

                                    ARTICLE V

                           COVENANTS OF THE BORROWERS

                  SECTION 5.01. AFFIRMATIVE COVENANTS. So long as the principal
of or interest on any Advance shall remain unpaid or any Lender shall have any
Commitment hereunder, each Borrower will, unless the Majority Lenders shall
otherwise consent in writing:

                  (a) COMPLIANCE WITH LAWS, ETC. Comply, and cause each
         Principal Subsidiary owned by it to comply, with all applicable laws
         (including, without limitation, any applicable federal or state
         securities laws, any applicable provisions of ERISA and the Racketeer
         Influenced and Corrupt Organizations Chapter of the Organized Crime
         Control Act of 1970), rules, regulations and orders, except when the
         failure to so comply is not reasonably likely to have a material
         adverse effect on the consolidated financial condition or operations of
         the Guarantor and its Subsidiaries or, in the case of any such failure
         by a Principal Subsidiary, on the financial condition or operations of
         such Principal Subsidiary.

                  (b) MAINTENANCE OF EXISTENCE. Preserve and maintain, and cause
         each Principal Subsidiary owned by it to preserve and maintain, its
         corporate existence in good standing and qualify and remain qualified
         to do business as a foreign corporation in each jurisdiction in which
         the character of the properties owned or leased by it therein or the
         conduct of its business is such that failure to qualify or be licensed
         has or would be reasonably likely to have a material adverse effect on
         the consolidated financial condition or operations of the Guarantor and
         its Subsidiaries; PROVIDED, HOWEVER, that the foregoing shall not
         prohibit any merger, consolidation or liquidation permitted by Sections
         5.01(f), 5.02(b) and 5.02(i).

                  (c) PAYMENT OF TAXES, ETC. Pay and discharge, and cause each
         Principal Subsidiary owned by it to pay and discharge, before the same
         shall become delinquent, all taxes, assessments and governmental
         charges or levies imposed upon it or upon its property; PROVIDED,
         HOWEVER, that neither such Borrower nor any of its Subsidiaries shall
         be required to pay or discharge any such tax, assessment, charge or
         claim that is being contested in good faith and by proper proceedings
         and as to which appropriate reserves are being maintained in accordance
         with generally accepted accounting principles.

                  (d) MAINTENANCE OF INSURANCE. Maintain, and cause each
         Principal Subsidiary owned by it to maintain, insurance with
         responsible and reputable insurance companies or associations in such
         amounts and covering such risks as is usually carried by companies
         engaged in similar businesses and owning similar properties in the same
         general areas in which such Borrower or such Subsidiary operates.

                  (e) REPORTING REQUIREMENTS. Furnish to the Lenders:

                           (i) as soon as available and in any event within 90
                  days after the end of each fiscal year of each Borrower, a
                  copy of the annual audit report for such year for such
                  Borrower and its Subsidiaries, containing consolidated
                  financial statements for such year certified in a manner
                  acceptable to the Majority Lenders by KPMG LLP or other

<Page>

                                                                              35

                  independent public accountants acceptable to the Majority
                  Lenders, together with (A) a certificate of the chief
                  financial officer or the comptroller or other appropriate
                  officer of such Borrower stating that no Default with respect
                  to such Borrower or the Guarantor has occurred and is
                  continuing or, if such a Default has occurred and is
                  continuing, a statement as to the nature thereof and the
                  action that such Borrower or the Guarantor, as the case may
                  be, has taken and proposes to take with respect thereto and
                  (B) a summary of legal proceedings relating to the Guarantor
                  or any of its Subsidiaries the likely effect of which would be
                  to result in a material adverse change in the financial
                  condition of the Guarantor and its Subsidiaries on a
                  consolidated basis;

                           (ii) as soon as available and in any event within 45
                  days after the end of each of the first three quarters of each
                  fiscal year of each of the Borrowers and each CSFB
                  Broker-Dealer, consolidated balance sheets of each Borrower
                  and its Subsidiaries and each CSFB Broker-Dealer and its
                  Subsidiaries as of the end of such quarter and consolidated
                  statements of income and cash flows of each Borrower and its
                  Subsidiaries and each CSFB Broker-Dealer and its Subsidiaries
                  for the period commencing at the end of the previous fiscal
                  year and ending with the end of such quarter, certified by the
                  chief financial officer or the comptroller or other
                  appropriate officer of each Borrower and each CSFB
                  Broker-Dealer, respectively, together with (A) a certificate
                  of said officer stating that no Default with respect to such
                  Borrower or the Guarantor has occurred and is continuing or,
                  if such a Default has occurred and is continuing, a statement
                  as to the nature thereof and the action that such Borrower or
                  the Guarantor, as the case may be, has taken and proposes to
                  take with respect thereto and (B) a summary of legal
                  proceedings relating to the Guarantor or any of its
                  Subsidiaries the likely effect of which would be to result in
                  a material adverse change in the financial condition of the
                  Guarantor and its Subsidiaries on a consolidated basis;

                           (iii) as soon as available and in any event within 90
                  days after the end of each fiscal year of each CSFB
                  Broker-Dealer, a copy of the annual audit report for such year
                  for such CSFB Broker-Dealer and its Subsidiaries, containing
                  consolidated financial statements for such year certified in a
                  manner acceptable to the Majority Lenders by KPMG LLP or other
                  independent public accountants acceptable to the Majority
                  Lenders, together with a certificate of such accounting firm
                  to the Lenders stating that in the course of the regular audit
                  of the business of such CSFB Broker-Dealer and its
                  Subsidiaries, which audit was conducted by such accounting
                  firm in accordance with generally accepted auditing standards,
                  such accounting firm has obtained no knowledge that a Default
                  under Section 5.02 or 6.01(n) has occurred and is continuing
                  or, if such accounting firm has obtained knowledge that such a
                  Default has occurred and is continuing, a statement as to the
                  nature thereof;

                           (iv) promptly after the sending or filing thereof, a
                  copy of any notification given by any CSFB Broker-Dealer to
                  the Commission regarding a net capital deficit or any capital
                  withdrawal made pursuant to the Net Capital Rule;

<Page>

                                                                              36

                           (v) within two Business Days after any CSFB
                  Broker-Dealer files its Part II FOCUS Report for each month
                  with the NYSE or the Commission, a Part I FOCUS Report for
                  such CSFB Broker-Dealer for such period, prepared in
                  accordance with NYSE and Commission rules and regulations, and
                  generated from the same information used by such CSFB
                  Broker-Dealer to prepare the Part II FOCUS Report filed with
                  the NYSE or the Commission for such period; PROVIDED, HOWEVER,
                  that, notwithstanding the foregoing, a copy of any Part I
                  FOCUS Report for such CSFB Broker-Dealer actually filed with
                  the NYSE or the Commission shall be furnished to the Lenders
                  promptly upon the filing thereof;

                           (vi) as soon as available and in any event within 90
                  days after the end of the first six months of each fiscal year
                  of CSFB, consolidated balance sheets of CSFB and its
                  Subsidiaries as of the end of such six month period and
                  consolidated statements of income of CSFB and its Subsidiaries
                  for the period commencing at the end of the previous fiscal
                  year and ending with the end of such six month period,
                  certified by the chief financial officer or the comptroller or
                  other appropriate officer of CSFB (it being understood that
                  the furnishing of any such certified balance sheets and
                  statements of income by either Borrower shall fulfill this
                  requirement for the relevant period for both Borrowers);

                           (vii) as soon as available and in any event within
                  180 days after the end of each fiscal year of CSFB, a copy of
                  the annual audit report for such year for CSFB and its
                  Subsidiaries, containing consolidated financial statements for
                  such year certified in a manner acceptable to the Majority
                  Lenders by KPMG LLP or other independent public accountants
                  acceptable to the Majority Lenders (it being understood that
                  the furnishing of any such certified audit report by either
                  Borrower shall fulfill this requirement for the relevant
                  fiscal year for both Borrowers);

                           (viii) as soon as available and in any event within
                  90 days after the end of the first six months of each of
                  Credit Suisse Group's financial years, Credit Suisse Group's
                  consolidated semi-annual report and unaudited accounts,
                  certified in a manner acceptable to the Majority Lenders by
                  the chief financial officer or the comptroller or other
                  appropriate officer of Credit Suisse Group, as at the end of
                  and for such six month period, together with copies of the
                  related directors' reports;

                           (ix) as soon as available and in any event within 180
                  days after the end of each of Credit Suisse Group's financial
                  years, Credit Suisse Group's consolidated and unconsolidated
                  annual reports and audited accounts as at the end of and for
                  that financial year, certified in a manner acceptable to the
                  Majority Lenders by independent public accountants acceptable
                  to the Majority Lenders, together with copies of the related
                  directors' and auditors' reports;

                           (x) as soon as possible and in any event within five
                  days after the occurrence of each Event of Default with
                  respect to such Borrower or the Guarantor and each event
                  which, with the giving of notice or

<Page>

                                                                              37

                  lapse of time, or both, would constitute an Event of Default
                  with respect to such Borrower or the Guarantor, a statement of
                  the Chief Financial Officer or other appropriate officer of
                  such Borrower setting forth details of such Event of Default
                  or event and the action which such Borrower or the Guarantor,
                  as the case may be, has taken and proposes to take with
                  respect thereto;

                           (xi) promptly after the sending or filing thereof,
                  (A) copies of all reports which such Borrower or any CSFB
                  Broker-Dealer sends to any holders of its securities
                  registered with the Commission under the Securities Exchange
                  Act of 1934, as amended, and (B) copies of all regular,
                  periodic and special reports, and all registration statements,
                  that such Borrower or any CSFB Broker-Dealer, as applicable,
                  files with the Commission or any governmental agency that may
                  be substituted therefor, or with any national securities
                  exchange in each case with respect to such securities;

                           (xii) promptly after the filing or receiving thereof,
                  (a) copies of all notices received from the Internal Revenue
                  Service, the Department of Labor or the PBGC by such Borrower
                  or any Subsidiary of such Borrower with respect to an ERISA
                  Event and (b) copies of each Schedule B (Actuarial
                  Information) to the annual report (Form 5500 Series) filed
                  with the Internal Revenue Service for each Plan of such
                  Borrower and any of its ERISA Affiliates;

                           (xiii) promptly after the commencement thereof,
                  notice of all actions, suits, investigations, litigation and
                  proceedings before any court or governmental department,
                  commission, board, bureau, agency or instrumentality, domestic
                  or foreign, affecting the Guarantor or any of its Subsidiaries
                  the likely effect of which would be to result in a material
                  adverse change in the financial condition of the Guarantor and
                  its Subsidiaries, on a consolidated basis;

                           (xiv) such other information respecting the condition
                  or operations, financial or otherwise, of such Borrower or any
                  of its Subsidiaries as any Lender through the Administrative
                  Agent may from time to time reasonably request;

                           (xv) (A) at the same time as sent to the Guarantor's
                  shareholders, any circular, document or other written
                  information sent to the Guarantor's shareholders as such
                  (including interim reports if and to the extent that these are
                  prepared and distributed); and

                           (B) such other information relating to the
                  consolidated financial condition or business of the Guarantor
                  and its Subsidiaries as the Administrative Agent (or any
                  Lender through the Administrative Agent) may from time to time
                  reasonably request, except for such information as is
                  customarily and reasonably regarded by the Guarantor as
                  confidential; and

                           (xvi) promptly after the announcement thereof by the
                  applicable rating agency, notice of any change in the rating
                  of the Index Debt by S&P or Moody's (or any substitute rating
                  agency).

<Page>

                                                                              38

                  (f) OWNERSHIP OF PRINCIPAL SUBSIDIARIES. In the case of CSFB
         Inc., maintain ownership of 100% of (i) the voting common stock of each
         Principal Subsidiary and (ii) the combined voting power of all capital
         stock of each Principal Subsidiary entitled to vote in the election of
         directors; PROVIDED, HOWEVER, that the foregoing shall not prohibit any
         merger or consolidation of a Principal Subsidiary with or into a
         Borrower or another Person or any liquidation of a Principal Subsidiary
         into a Borrower or another Subsidiary of CSFB Inc., so long as the
         requirements of clauses (i) and (ii) of this sentence are satisfied by
         CSFB Inc. with respect to the surviving entity in any such merger or
         consolidation or the Subsidiary receiving such liquidation (in each
         case if such surviving or receiving entity is not CSFB Inc.). In the
         case of CSFB (USA), maintain ownership of 100% of (i) the voting common
         stock of each CSFB Broker-Dealer and (ii) the combined voting power of
         all capital stock of each CSFB Broker-Dealer entitled to vote in the
         election of directors; PROVIDED, HOWEVER, that the foregoing shall not
         prohibit any merger or consolidation of a CSFB Broker-Dealer with or
         into another Person or any liquidation of a CSFB Broker-Dealer into
         another Subsidiary of CSFB (USA), so long as the entity surviving such
         merger or consolidation or receiving such liquidation is a CSFB
         Broker-Dealer in respect of which the requirements of clauses (i) and
         (ii) of this sentence are satisfied by CSFB (USA).

                  SECTION 5.02. NEGATIVE COVENANTS. So long as any Advance shall
remain unpaid or any Lender shall have any Commitment hereunder, each Borrower
will not, without the written consent of the Majority Lenders:

                  (a) LIENS, ETC. Create or suffer to exist any Lien, upon or
         with respect to any of its properties of any character (including,
         without limitation, the capital stock of the Principal Subsidiaries
         owned by it) whether now owned or hereafter acquired, or assign any
         right of such Borrower to receive income to secure or provide for the
         payment of any Debt of any Person, OTHER THAN any of the following
         Liens as to which no enforcement, collection, execution, levy or
         foreclosure proceeding shall have been commenced: (i) Liens for taxes,
         assessments and governmental charges or levies to the extent not
         required to be paid under Section 5.01(c) hereof; (ii) Liens imposed by
         law arising in the ordinary course of business securing obligations
         that are not overdue for a period of more than 30 days; (iii) pledges
         or deposits to secure obligations under workers' compensation laws or
         similar legislation or to secure public or statutory obligations; (iv)
         Liens incurred in the ordinary course of business.

                  (b) MERGERS, ETC. Consolidate with or merge into or with, or
         sell or otherwise dispose of all or substantially all of its assets to,
         any Person, or acquire all or substantially all of the assets of any
         Person, unless, in the case of any such proposed consolidation, merger
         or acquisition of assets, (i) immediately after giving effect to such
         transaction, (A) no Default would exist and (B) the ratings by S&P and
         Moody's of the Index Debt would not be less than the ratings by S&P and
         Moody's of the Index Debt immediately before giving effect to such
         proposed transaction and (ii) in the case of any proposed merger or
         consolidation to which such Borrower will be a party (unless such
         Borrower will be the survivor), the corporation formed by any such
         consolidation or into which such Borrower shall be merged shall (A)
         assume such Borrower's obligations hereunder pursuant to an agreement
         or instrument reasonably satisfactory in form and substance to the
         Administrative Agent and (B) be a direct or indirect wholly-owned
         Subsidiary of the Guarantor.

<Page>

                                                                              39

                  (c) INTERNATIONAL BANKING ACT OF 1978; BANK HOLDING COMPANY
         ACT OF 1956. Violate the International Banking Act of 1978, as amended
         from time to time ("IBA") or the Bank Holding Company Act of 1956, as
         amended from time to time ("BHCA"), or any order, regulation,
         interpretation or advice issued or promulgated by, or on behalf of, the
         Board of Governors of the Federal Reserve System with respect to the
         applicability of the IBA or the BHCA to such Borrower, its Subsidiaries
         and its and their respective activities (including, without limitation,
         any restrictions on such Borrower's ability to, directly or indirectly,
         acquire the voting stock of a company or engage in investment banking
         or merchant banking activity) if such violation could reasonably be
         expected to have a material adverse effect on the financial condition
         or operations of any CSFB Broker-Dealer or the consolidated financial
         condition or operations of the Guarantor and its Subsidiaries.

                  (d) COMPLIANCE WITH ERISA. Permit to exist any occurrence of
         any Reportable Event (as defined in Title IV of ERISA), or any other
         event or condition, which presents a material risk of termination by
         the PBGC of any Plan and the imposition of liability on such Borrower
         or any of its ERISA Affiliates exceeding $30,000,000.

                  (e) PREPAYMENTS, ETC. OF SUBORDINATED DEBT. Prepay, redeem,
         purchase, defease or otherwise satisfy prior to the scheduled maturity
         thereof, or make any payment in violation of any subordination terms
         of, any Debt which is subordinated in right of payment to the
         obligations of such Borrower under this Agreement at any time when (i)
         an Advance is outstanding hereunder or (ii) any interest, fees or other
         amounts are due and payable by such Borrower hereunder; PROVIDED,
         HOWEVER, that such limitation shall not apply to the prepayment,
         redemption, purchase or defeasance by such Borrower of any subordinated
         medium-term note or other such subordinated debt if such Borrower
         immediately reissues subordinated Debt in a principal amount equal to
         or greater than the amount of such subordinated debt so prepaid,
         redeemed, purchased or defeased and such reissued subordinated Debt (A)
         is subordinated in right of payment to the Debt under this Agreement on
         terms no less favorable to the Lenders than the Debt being so prepaid,
         redeemed, purchased or defeased and (B) does not mature prior to the
         stated maturity of, and has an average life equal to or greater than,
         the Debt being so prepaid, redeemed, purchased or defeased.

                  (f) LOANS AND ADVANCES. Make any loans, advances or other
         extensions of credit to Credit Suisse Group or any Subsidiary of Credit
         Suisse Group; PROVIDED, HOWEVER, that so long as no Event of Default
         shall have occurred and be continuing (i) such Borrower may make loans,
         advances or other extensions of credit to any Subsidiary of Credit
         Suisse Group (other than a Subsidiary of such Borrower) on terms no
         less favorable to such Borrower than it would obtain in a comparable
         arm's-length transaction in the ordinary course of business and (ii)
         such Borrower may make loans, advances or other extensions of credit to
         any of its Subsidiaries so long as such loans, advances or other
         extensions of credit bear interest at a rate consistent with reasonable
         business practices.

                  (g) DEBT. Create or suffer to exist any Debt other than Debt
         which ranks PARI PASSU with, or subordinate in right of payment to, the
         senior indebtedness of such Borrower represented by the Advances.

<Page>

                                                                              40

                  (h) COMPLIANCE WITH NET CAPITAL RULE. Permit any violation of
         the Net Capital Rule by any CSFB Broker-Dealer to remain uncured for 5
         days after a Borrower obtains knowledge of such violation.

                  (i) MAINTENANCE OF OWNERSHIP OF THE CSFB BROKER-DEALERS. Sell
         or otherwise dispose of any shares of common stock of any CSFB
         Broker-Dealer; PROVIDED, HOWEVER, that a merger between CSFB
         Broker-Dealers may be effected so long as the surviving entity is a
         wholly-owned Subsidiary of CSFB (USA) and a registered broker-dealer.

                                   ARTICLE VI

                                EVENTS OF DEFAULT

                  SECTION 6.01. EVENTS OF DEFAULT. If any of the following
events ("Events of Default") shall occur and be continuing:

                  (a) Either Borrower shall fail to pay any principal of any
         Advance made to it when the same becomes due and payable, or shall fail
         to pay any interest on any Advance made to it or any fees payable
         hereunder within five days after such interest or fees become due and
         payable; or

                  (b) Any representation or warranty made by either Borrower
         herein or by the Guarantor in the Guarantee or by either Borrower or
         the Guarantor (or any of their officers) in connection with this
         Agreement or the Guarantee shall prove to have been incorrect in any
         material respect when made or deemed made; or

                  (c) Either Borrower shall fail to perform or observe any term,
         covenant or agreement contained in Section 5.01(e)(viii) or 5.02 or the
         Guarantor shall fail to perform or observe any covenant or agreement
         contained in Sections 4.02 and 4.03 of the Guarantee; or either
         Borrower or the Guarantor shall fail to perform or observe any other
         term, covenant or agreement contained in this Agreement or the
         Guarantee on its part to be performed or observed if the failure to
         perform or observe such other term, covenant or agreement shall remain
         unremedied for 21 days after written notice thereof shall have been
         given to the Guarantor or, as the case may be, by the Administrative
         Agent or any Lender; or

                  (d) Any one or more of the Guarantor, the Borrowers and the
         Principal Subsidiaries shall fail to pay any principal of or premium or
         interest on any Debt which is outstanding in a principal amount of at
         least $100,000,000 in the aggregate (but excluding Debt represented by
         the Advances) of the Guarantor, the Borrowers or the Principal
         Subsidiaries (as the case may be), when the same becomes due and
         payable (whether by scheduled maturity, required prepayment,
         acceleration, demand or otherwise), and such failure shall continue
         after the applicable grace period, if any, specified in the agreement
         or instrument relating to such Debt and, in the case of the Principal
         Subsidiaries (other than CSFB (USA)), such failure shall continue for
         10 days after the later of the date the same becomes due and payable
         and the last day of the applicable grace period, if any; or any such
         Debt shall be declared to be due and payable, or required to be prepaid
         (other than by a regularly scheduled

<Page>

                                                                              41

         required prepayment), redeemed, purchased or defeased, or an offer to
         prepay, redeem, purchase or defease such Debt shall be required to be
         made, in each case prior to the stated maturity thereof; or

                  (e) the Guarantor, any Borrower or any Principal Subsidiary
         shall generally not pay its debts as such debts become due, or shall
         admit in writing its inability to pay its debts generally, or shall
         make a general assignment for the benefit of creditors; or any
         proceeding shall be instituted by or against the Guarantor, any
         Borrower or any Principal Subsidiary seeking to adjudicate it a
         bankrupt or insolvent, or seeking liquidation, winding up,
         reorganization, arrangement, adjustment, protection, relief, or
         composition of it or its debts under any law relating to bankruptcy,
         insolvency or reorganization or relief of debtors, or seeking the entry
         of an order for relief or the appointment of a receiver, trustee,
         custodian or other similar official for it or for any substantial part
         of its property and, in the case of any such proceeding instituted
         against it (but not instituted by it), either such proceeding shall
         remain undismissed or unstayed for a period of 60 days, or any of the
         actions sought in such proceeding (including, without limitation, the
         entry of an order for relief against, or the appointment of a receiver,
         trustee, custodian or other similar official for, it or for any
         substantial part of its property) shall occur; or the Guarantor, any
         Borrower or any Principal Subsidiary shall take any corporate action to
         authorize any of the actions set forth above in this subsection (e); or

                  (f) Any judgment or order for the payment of money in excess
         of $100,000,000 or its equivalent in the aggregate shall be rendered
         against any one or more of the Guarantor, the Borrowers and the
         Principal Subsidiaries and there shall be any period of 10 consecutive
         days during which a stay of enforcement of such judgment or order, by
         reason of a pending appeal or otherwise, shall not be in effect; or

                  (g) Any non-monetary judgment or order shall be rendered
         against the Guarantor, any Borrower or any Principal Subsidiary that
         would be reasonably likely to have a material adverse effect on the
         Guarantor and its Subsidiaries as a whole, and there shall be any
         period of 10 consecutive days during which a stay of enforcement of
         such judgment or order, by reason of a pending appeal or otherwise,
         shall not be in effect; or

                  (h) Any ERISA Event shall have occurred with respect to a Plan
         of any Borrower or any of its ERISA Affiliates and the sum (determined
         as of the date of occurrence of such ERISA Event) of the Insufficiency
         of such Plan and the Insufficiency of any and all other Plans of any
         Borrower and its ERISA Affiliates with respect to which an ERISA Event
         shall have occurred and then exist (or the liability of any Borrower
         and its ERISA Affiliates related to such ERISA Event) exceeds
         $30,000,000; or

                  (i) Any CSFB Broker-Dealer shall cease to be a member
         organization of the NYSE or the NASD or shall fail to maintain its
         registration as a broker-dealer with the Commission; PROVIDED, HOWEVER,
         that a merger between CSFB Broker-Dealers may be effected so long as
         the surviving entity is in compliance with this Section 6.01(i); or the
         Commission or the NYSE shall make a decision, enter an order, or take
         other action with respect to any CSFB Broker-Dealer, which materially
         adversely affects its business, and such decision, order or other
         action shall continue unstayed and in effect for a period of 30 days;
         or

<Page>

                                                                              42

                  (j) CSFB and its Affiliates shall cease to own beneficially,
         directly or indirectly, capital stock of CSFB Inc. (or any successor
         thereof resulting from a transaction permitted by Section 5.02(b))
         representing at least 51% of (i) the common stock of CSFB Inc. and (ii)
         the combined voting power of all capital stock of CSFB Inc. entitled to
         vote in the election of directors; or

                  (k) CSFB Inc. shall cease to own beneficially, directly or
         indirectly, 100% of the voting stock of CSFB (USA) (or any successor
         thereof resulting from a transaction permitted by Sections 5.01(f),
         5.02(b) and 5.02(i)); or

                  (l) CSFB (USA) shall cease to own beneficially, directly or
         indirectly, 100% of the voting stock of each CSFB Broker-Dealer (or any
         successor thereof resulting from a transaction permitted by Section
         5.02(b)); or

                  (m) The SIPC shall apply for a protective decree with respect
         to any CSFB Broker-Dealer as provided in the SIPA and such application
         shall remain undismissed for a period of 30 days;

                  (n) Any CSFB Broker-Dealer shall fail to maintain net capital
         equal to at least 5% of its Aggregate Debit Items as required to be
         shown on any FOCUS Report for such CSFB Broker-Dealer; or

                  (o) the Guarantee shall for any reason be held by a court of
         competent jurisdiction not to be, or shall be asserted by either
         Borrower or the Guarantor not to be, valid in accordance with the terms
         thereof;

then, and in any such event, (x) the Administrative Agent shall at the request,
or may with the consent, of the Majority Lenders, by notice to CSFB Inc., in the
case of a CSFB Inc. Event of Default, and/or CSFB (USA), in the case of a CSFB
(USA) Event of Default, declare the obligation of each Lender to make Revolving
Credit Advances to such Borrower and the obligation of each of the Swing Line
Banks to make Swing Line Advances to such Borrower to be terminated, whereupon
the same shall forthwith terminate, (y) the Administrative Agent shall at the
request, or may with the consent, of the Majority Lenders, by notice to the
Borrowers, declare the Advances, all interest thereon and all other amounts
payable under this Agreement to be forthwith due and payable (regardless of
whether such Event of Default is a CSFB Inc. Event of Default or a CSFB (USA)
Event of Default), whereupon the Advances, all such interest and all such
amounts shall become and be forthwith due and payable, without presentment,
demand, protest or further notice of any kind, all of which are hereby
expressly waived by the Borrowers, and (z) the obligations of the Lenders to
make Advances to any Borrower in respect of which the lending obligations
hereunder have not been terminated pursuant to clause (x) above shall be
subject to the prior written consent of the Majority Lenders; PROVIDED,
HOWEVER, that, in the event of an actual or deemed entry of an order for
relief with respect to any Borrower under the Federal Bankruptcy Code or upon
the occurrence of an Event of Default described in Section 6.01(e), (A) the
obligation of each Lender to make Advances to such Borrower and of each Swing
Line Bank to make Swing Line Advances to such Borrower shall automatically be
terminated and (B) all the Advances, all such interest and all such amounts
shall automatically become and be due and payable, without presentment,
demand, protest or any notice of any kind, all of which are hereby expressly
waived by the Borrowers.

<Page>

                                                                              43

                                   ARTICLE VII

                            THE ADMINISTRATIVE AGENT

                  Subject to the further provisions of this Article VII, each of
the Lenders and each Swingline Bank hereby irrevocably appoints the
Administrative Agent as its agent and authorizes the Administrative Agent to
take such actions on its behalf and to exercise such powers as are delegated to
the Administrative Agent by the terms hereof, together with such actions and
powers as are reasonably incidental thereto.

                  The bank serving as the Administrative Agent hereunder shall
have the same rights and powers in its capacity as a Lender as any other Lender
and may exercise the same as though it were not the Administrative Agent, and
such bank and its Affiliates may accept deposits from, lend money to and
generally engage in any kind of business with the Borrowers or their
Subsidiaries or other Affiliate thereof as if it were not the Administrative
Agent hereunder.

                  The Administrative Agent shall not have any duties or
obligations except those expressly set forth herein. Without limiting the
generality of the foregoing, (a) the Administrative Agent shall not be subject
to any fiduciary or other implied duties, regardless of whether a Default has
occurred and is continuing, (b) the Administrative Agent shall not have any duty
to take any discretionary action or exercise any discretionary powers, except
discretionary rights and powers expressly contemplated hereby that the
Administrative Agent is required to exercise in writing by the Majority Lenders
(or such other number or percentage of the Lenders as shall be necessary under
the circumstances as provided in Section 8.01), and (c) except as expressly set
forth herein, the Administrative Agent shall not have any duty to disclose, and
shall not be liable for the failure to disclose, any information relating to the
Guarantor, the Borrowers or any of their Subsidiaries that is communicated to or
obtained by the bank serving as Administrative Agent or any of its Affiliates in
any capacity (other than as Administrative Agent). The Administrative Agent
shall not be liable for any action taken or not taken by it with the consent
or at the request of the Majority Lenders (or such other number or percentage
of the Lenders as shall be necessary under the circumstances as provided in
Section 8.01) or in the absence of its own gross negligence or wilful
misconduct. The Administrative Agent shall be deemed not to have knowledge of
any Default unless and until written notice thereof is given to the
Administrative Agent by the applicable Borrower or a Lender, and the
Administrative Agent shall not be responsible for or have any duty to
ascertain or inquire into (i) any statement, warranty or representation made
by any other Person in or in connection with this Agreement, (ii) the
contents of any certificate, report or other document delivered hereunder or
in connection herewith, (iii) the performance or observance of any of the
covenants, agreements or other terms or conditions set forth herein, (iv) the
validity, enforceability, effectiveness (other than its own execution) or
genuineness of this Agreement or any other agreement, instrument or document,
or (v) the satisfaction of any condition set forth in Article III or
elsewhere herein, other than to confirm receipt of items expressly required
to be delivered to the Administrative Agent.

                  The Administrative Agent shall be entitled to rely upon, and
shall not incur any liability for relying upon, any notice, request,
certificate, consent, statement, instrument, document or other writing
reasonably believed by it to be genuine and to have been signed or sent by the
proper Person. The Administrative Agent also may rely upon any statement made to
it orally or by telephone and believed by it to be

<Page>

                                                                              44

made by the proper Person, and shall not incur any liability for relying
thereon. The Administrative Agent may consult with legal counsel (who may be
counsel for either Borrower or the Guarantor), independent accountants and
other experts selected by it, and shall not be liable for any action taken or
not taken by it in accordance with the advice of any such counsel,
accountants or experts.

                  The Administrative Agent may perform any and all its duties
and exercise its rights and powers by or through any one or more sub-agents
appointed by the Administrative Agent. The Administrative Agent and any such
sub-agent may perform any and all its duties and exercise its rights and powers
through their respective Affiliates. The exculpatory provisions of the preceding
paragraphs shall apply to any such sub-agent and to the Affiliates of the
Administrative Agent and any such sub-agent, and shall apply to their respective
activities in connection with the syndication of the credit facilities provided
for herein as well as activities as Administrative Agent.

                  Subject to the appointment and acceptance of a successor
Administrative Agent as provided in this paragraph, the Administrative Agent may
resign at any time by notifying the Lenders, the Swingline Banks and the
Borrowers. Upon any such resignation, the Majority Lenders shall have the right,
subject to the approval of the Borrowers (provided no Event of Default exists),
to appoint a successor. If no successor shall have been so appointed by the
Majority Lenders and shall have accepted such appointment within 30 days after
the retiring Administrative Agent gives notice of its resignation, then the
retiring Administrative Agent may, on behalf of the Lenders and the Swingline
Banks, appoint a successor Administrative Agent which shall be a bank with an
office in New York, New York, or an Affiliate of any such bank. Upon the
acceptance of its appointment as Administrative Agent hereunder by a
successor, such successor shall succeed to and become vested with all the
rights, powers, privileges and duties of the retiring Administrative Agent,
and the retiring Administrative Agent shall be discharged from its duties and
obligations hereunder. The fees payable by the Borrowers to a successor
Administrative Agent shall be the same as those payable to its predecessor
unless otherwise agreed between the Borrowers and such successor. After the
Administrative Agent's resignation hereunder, the provisions of this Article
and Section 8.04 shall continue in effect for the benefit of such retiring
Administrative Agent, its sub-agents and their respective Related Parties in
respect of any actions taken or omitted to be taken by any of them while it
was acting as Administrative Agent.

                  Each Lender acknowledges that it has, independently and
without reliance upon the Administrative Agent or any other Lender and based on
such documents and information as it has deemed appropriate, made its own credit
analysis and decision to enter into this Agreement. Each Lender also
acknowledges that it will, independently and without reliance upon the
Administrative Agent or any other Lender and based on such documents and
information as it shall from time to time deem appropriate, continue to make its
own decisions in taking or not taking action under or based upon this Agreement,
any related agreement or any document furnished hereunder or thereunder.

<Page>

                                                                              45

                                  ARTICLE VIII

                                  MISCELLANEOUS

                  SECTION 8.01. AMENDMENTS, ETC. No amendment or waiver of any
provision of this Agreement, nor consent to any departure by a Borrower
therefrom, shall in any event be effective unless the same shall be in writing
and signed by the Majority Lenders and each Borrower, and then such waiver or
consent shall be effective only in the specific instance and for the specific
purpose for which given; PROVIDED, HOWEVER, that no amendment, waiver or consent
shall, unless in writing and signed by all the Lenders, do any of the following:
(a) waive any of the conditions specified in Section 3.01 or 3.02, (b) increase
the Commitments of the Lenders or subject the Lenders to any additional
obligations, (c) reduce or forgive the principal of, or interest on, the
Advances or any fees or other amounts payable hereunder, (d) postpone any date
fixed for any payment of principal of, or interest on, the Advances or any fees
or other amounts payable hereunder, (e) change the definition of "Majority
Lenders" or the percentage of the Commitments or of the aggregate unpaid
principal amount of the Advances which shall be required for the Lenders, the
Swing Line Banks or any of them to take any action hereunder, (f) modify the
second, third or fourth sentence of Section 2.13, Section 2.15 or any other
provision providing for the equal or ratable treatment of the Lenders or (g)
amend this Section 8.01; PROVIDED FURTHER, HOWEVER, that no amendment, waiver or
consent shall, unless in writing and signed by (i) the Administrative Agent in
addition to the Lenders required above to take such action, affect the rights or
duties of the Administrative Agent under this Agreement or (ii) a Swing Line
Bank in addition to the Lenders required above to take such action, increase
such Swing Line Bank's Swing Line Commitment or otherwise affect the rights or
obligations of such Swing Line Bank hereunder.

                  SECTION 8.02. NOTICES, ETC. All notices and other
communications provided for hereunder shall be in writing (including telecopier
communication) and mailed, telecopied or delivered, to each Borrower at its
address at Eleven Madison Avenue, New York, New York 10010, Telecopy No.
212-325-8227, Attention: Corporate Treasurer; if to any Bank, at its Domestic
Lending Office specified opposite its name on Schedule 1 hereto; if to any other
Lender, at its Domestic Lending Office specified in the Assignment and
Acceptance pursuant to which it became a Lender; and if to the Administrative
Agent, at its address at One Chase Manhattan Plaza, 8th Floor, New York, New
York 10081, Telecopy No. (212) 552-7490, Attention: Laura A. Rebecca, with a
copy to The Chase Manhattan Bank, One Chase Manhattan Plaza, 21st Floor, New
York, New York 10081, Telecopy No. 212-552-5142, Attention: Jane Buyers-Russo;
or, as to each of the aforementioned parties, at such other address as shall be
designated by such party in a written notice to the Borrowers and the
Administrative Agent and, in the case of any such notice by a Borrower or the
Administrative Agent, to each other party thereto. All such notices and
communications shall, when mailed or telecopied be effective when deposited in
the mails or telecopied respectively, except that notices and communications to
the Administrative Agent pursuant to Article II or VII shall not be effective
until received by the Administrative Agent.

                  SECTION 8.03. NO WAIVER; REMEDIES. No failure on the part of
any Lender, any Swing Line Bank or the Administrative Agent to exercise, and no
delay in exercising, any right hereunder shall operate as a waiver thereof;
nor shall any single or partial exercise of any such right preclude any other
or further exercise thereof or the exercise of any other right. The remedies
herein provided are cumulative and not exclusive of any remedies provided by
law.

<Page>

                                                                              46

                  SECTION 8.04. COSTS, EXPENSES AND TAXES. (a) The Borrowers
agree, jointly and severally, to pay on demand all costs and expenses in
connection with the syndication of the credit facilities provided for herein and
the preparation, execution, delivery, administration, modification and amendment
of this Agreement and the other documents to be delivered hereunder, including,
without limitation, the reasonable fees and out-of-pocket expenses of counsel
for the Administrative Agent with respect thereto and with respect to advising
the Administrative Agent as to its rights and responsibilities under this
Agreement. The Borrowers further agree, jointly and severally, to pay on demand
all costs and expenses, if any (including, without limitation, reasonable fees
and expenses of counsel for the Administrative Agent and the Lenders hereunder),
in connection with the enforcement (whether through negotiations, legal
proceedings or otherwise) of this Agreement and the other documents to be
delivered hereunder, including, without limitation, reasonable fees and expenses
of counsel for the Administrative Agent and the Lenders hereunder in connection
with the enforcement of rights under this Section 8.04(a).

                  (b) The Borrowers agree, jointly and severally, to indemnify
and hold harmless the Administrative Agent, each Swing Line Bank and each Lender
and each of their Affiliates and their officers, directors, employees, agents
and advisors (each, an "Indemnified Party") from and against any and all claims,
damages, losses, liabilities and expenses (including, without limitation,
reasonable fees and expenses of counsel) that may be incurred by or asserted or
awarded against any Indemnified Party, in each case arising out of or in
connection with or by reason of, or in connection with an Event of Default or
with the preparation for a defense of, any investigation, litigation or
proceeding arising out of, related to or in connection with this Agreement,
including, without limitation, any transaction in which the proceeds of any
Borrowing hereunder are or are to be applied, whether or not an Indemnified
Party is a party thereto and whether or not the transactions contemplated hereby
are consummated, except to the extent any such claim, damage, loss, liability or
expense is found in a final, non-appealable judgment by a court of competent
jurisdiction to have resulted from such Indemnified Party's gross negligence or
willful misconduct.

                  (c) If any payment, prepayment or conversion of any Eurodollar
Rate Advance or Fixed Rate Advance is made other than on the last day of the
Interest Period for such Advance, as a result of a payment pursuant to Section
2.10 or 2.12, a conversion of a Revolving Credit Advance pursuant to Section
2.19, acceleration of the maturity of the Advances pursuant to Section 6.01 or
for any other reason, the applicable Borrower shall, upon demand by any Lender
(with a copy of such demand to the Administrative Agent), pay to the
Administrative Agent for the account of such Lender any amounts required to
compensate such Lender for any additional losses, costs or expenses which it may
reasonably incur as a result of such payment, including, without limitation, any
loss (including loss of anticipated profits), cost or expense incurred by
reason of the liquidation or reemployment of deposits or other funds acquired
by any Lender to fund or maintain such Advance. In the event of the failure
to borrow, convert, continue or prepay any Revolving Credit Advance on the
date specified in any notice delivered pursuant hereto, the failure to borrow
any Auction Bid Advance after accepting the Auction Bid to make such Advance
or the assignment of any Advance other than on the last day of the Interest
Period applicable thereto as a result of a request by the Borrowers pursuant
to Section 2.16, 2.18(b) or 8.07(a), then, in any such event, the applicable
Borrower shall, upon demand by any Lender (with a copy of such demand to the
Administrative Agent), pay to the Administrative Agent for the account of
such Lender any amounts required to compensate such Lender for any additional
losses, costs or expenses which it may reasonably incur as a result of such
event, including, without limitation, any loss

<Page>

                                                                              47

(including loss of anticipated profits), cost or expense incurred by reason
of the liquidation or reemployment of deposits or other funds acquired by any
Lender to fund or maintain such Advance. A certificate as to the amount of
such losses, costs or expenses submitted to the applicable Borrower and the
Administrative Agent by such Lender shall be conclusive and binding for all
purposes, absent manifest error.

                  SECTION 8.05. RIGHT OF SET-OFF. Upon (i) the occurrence and
during the continuance of any Event of Default and (ii) the making of the
request or the granting of the consent specified by Section 6.01 to authorize
the Administrative Agent to declare the Advances due and payable pursuant to the
provisions of Section 6.01, each Lender and each Swing Line Bank is hereby
authorized at any time and from time to time, to the fullest extent permitted by
law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final) at any time held and other indebtedness at any
time owing by such Lender or such Swing Line Bank to or for the credit or the
account of the applicable Borrower against any and all of the obligations of
such Borrower now or hereafter existing under this Agreement and any Advances
held by such Lender or such Swing Line Bank, whether or not such Lender or such
Swing Line Bank shall have made any demand under this Agreement and although
such obligations may be unmatured. Each Lender and each Swing Line Bank agrees
promptly to notify the applicable Borrower after any such set-off and
application made by such Lender or such Swing Line Bank; PROVIDED, HOWEVER, that
the failure to give such notice shall not affect the validity of such set-off
and application. The rights of each Lender and each Swing Line Bank under this
Section are in addition to other rights and remedies (including, without
limitation, other rights of set-off) which such Lender or such Swing Line Bank
may have.

                  SECTION 8.06. BINDING EFFECT. This Agreement shall become
effective in accordance with Section 3.01 and thereafter shall be binding upon
and inure to the benefit of the Borrowers, the Administrative Agent, each Swing
Line Bank and each Lender and their respective successors and assigns, except
that the Borrowers shall not have the right to assign their rights hereunder or
any interest herein without the prior written consent of the Lenders and the
Swing Line Banks.

                  SECTION 8.07. ASSIGNMENTS AND PARTICIPATIONS. (a) Each Lender
may and, if demanded by the Borrowers (pursuant to Section 2.16 or 2.18(b)) upon
at least five Business Days' notice to such Lender and the Administrative Agent,
will assign to one or more banks or other entities all or a portion of its
rights and obligations under this Agreement (including, without limitation, all
or a portion of its Commitment and the Advances owing to it); PROVIDED, HOWEVER,
that (i) each such assignment shall be of a constant, and not a varying,
percentage of all rights and obligations under this Agreement, (ii) the amount
of the Commitment of the assigning Lender being assigned pursuant to each such
assignment (determined as of the date of the Assignment and Acceptance with
respect to such assignment) shall in no event be less than $10,000,000 (or
$5,000,000, in the case of an assignment to a Lender Affiliate) or the remaining
amount of such Lender's Commitment and shall be an integral multiple of
$500,000, (iii) each such assignment shall be to a Lender, a Lender Affiliate, a
Person described in clause (viii) of the definition of "Eligible Assignee" in
Section 1.01 or, with the consent of the Borrowers (such consent not to be
unreasonably withheld), any other Eligible Assignee, (iv) each such assignment
made as a result of a demand by the Borrowers pursuant to this Section 8.07(a)
shall be arranged by the Borrowers after consultation with the Administrative
Agent and shall be either an assignment of all of the rights and obligations of
the assigning Lender under this Agreement or an assignment of a portion of such
rights and obligations made concurrently with another such assignment or other
such

<Page>

                                                                              48

assignments that together cover all of the rights and obligations of the
assigning Lender under this Agreement, (v) no Lender shall be obligated to make
any such assignment as a result of a demand by the Borrowers pursuant to this
Section 8.07(a) unless and until such Lender shall have received one or more
payments from either the Borrowers or one or more Eligible Assignees in an
aggregate amount at least equal to the aggregate outstanding principal amount of
the Advances owing to such Lender, together with accrued interest thereon to the
date of payment of such principal amount and all other amounts payable to such
Lender under this Agreement and (vi) the parties to each such assignment shall
execute and deliver to the Administrative Agent, for its acceptance and
recording in the Register, an Assignment and Acceptance, together with a
processing and recordation fee of $3,500 (or $1,000, in the case of an
assignment to a Lender Affiliate); PROVIDED, HOWEVER, that, if such assignment
is made as a result of a demand by the Borrowers pursuant to this Section
8.07(a), the Borrowers shall pay or cause to be paid such fee. Upon such
execution, delivery, acceptance and recording, from and after the effective date
specified in each Assignment and Acceptance, (x) the assignee thereunder shall
be a party hereto and, to the extent that rights and obligations hereunder have
been assigned to it pursuant to such Assignment and Acceptance, have the rights
and obligations of a Lender hereunder and (y) the Lender assignor thereunder
shall, to the extent that rights and obligations hereunder have been assigned by
it pursuant to such Assignment and Acceptance, relinquish its rights (other than
any such rights which by their terms survive the termination of this Agreement
or the payment in full of principal and interest hereunder) and be released from
its obligations under this Agreement (and, in the case of an Assignment and
Acceptance covering all or the remaining portion of an assigning Lender's rights
and obligations under this Agreement, such Lender shall cease to be a party
hereto (other than with respect to any such rights which by their terms
survive the termination of this Agreement or the payment in full of principal
and interest hereunder)). Notwithstanding the foregoing, any Lender assigning
its rights and obligations under this Agreement may retain any Auction Bid
Advances made by it, outstanding at such time, and in such case shall retain
its rights hereunder in respect of any Advances so retained until such
Advances have been repaid in full in accordance with this Agreement.

                  (b) By executing and delivering an Assignment and Acceptance,
the Lender assignor thereunder and the assignee thereunder confirm to and agree
with each other and the other parties hereto as follows: (i) other than as
provided in such Assignment and Acceptance, such assigning Lender makes no
representation or warranty and assumes no responsibility with respect to any
statements, warranties or representations made in or in connection with this
Agreement or the execution, legality, validity, enforceability, genuineness,
sufficiency or value of this Agreement or any other instrument or document
furnished pursuant hereto; (ii) such assigning Lender makes no representation or
warranty and assumes no responsibility with respect to the financial condition
of the Borrowers or the Guarantor or the performance or observance by the
Borrowers or the Guarantor of any of their obligations under this Agreement or
the Guarantee or any other instrument or document furnished pursuant hereto;
(iii) such assignee confirms that it has received a copy of this Agreement and
the Guarantee, together with copies of the financial statements referred to in
Section 5.01 and such other documents and information as it has deemed
appropriate to make its own credit analysis and decision to enter into such
Assignment and Acceptance; (iv) such assignee will, independently and without
reliance upon the Administrative Agent, such assigning Lender or any other
Lender and based on such documents and information as it shall deem appropriate
at the time, continue to make its own credit decisions in taking or not taking
action under this Agreement; (v) such assignee confirms that it is an Eligible
Assignee; (vi) such

<Page>

                                                                              49

assignee appoints and authorizes the Administrative Agent to take such action
as agent on its behalf and to exercise such powers under this Agreement as
are delegated to the Administrative Agent by the terms hereof, together with
such powers as are reasonably incidental thereto; and (vii) such assignee
agrees that it will perform in accordance with their terms all of the
obligations which by the terms of this Agreement are required to be performed
by it as a Lender.

                  (c) Upon its receipt of an Assignment and Acceptance executed
by an assigning Lender and an assignee representing that it is an Eligible
Assignee, the Administrative Agent shall, if such Assignment and Acceptance has
been completed and is in substantially the form of Exhibit E hereto, (i) accept
such Assignment and Acceptance, (ii) record the information contained therein in
the Register and (iii) give prompt notice thereof to the Borrowers.

                  (d) The Administrative Agent shall maintain at its address
referred to in Section 8.02 a copy of each Assignment and Acceptance delivered
to and accepted by it and a register for the recordation of the names and
addresses of each of the Lenders and, with respect to Lenders, the Commitment
of, and principal amount of the Advances owing to, each such Lender from time
to time (the "Register"). The entries in the Register shall be conclusive and
binding, absent manifest error, and the Borrowers, the Administrative Agent
and the Lenders may treat each Person whose name is recorded in the Register
as a Lender hereunder for the purposes of this Agreement. The Register shall
be available for inspection by the Borrowers or any Lender at any reasonable
time and from time to time upon reasonable prior notice.

                  (e) Each Lender may sell participations to one or more banks
or other entities in or to all or a portion of its rights and obligations under
this Agreement (including, without limitation, all or a portion of its
Commitment and the Advances owing to it); PROVIDED, HOWEVER, that (i) such
Lender's obligations under this Agreement (including, without limitation, its
Commitment to the Borrowers hereunder) shall remain unchanged, (ii) such Lender
shall remain solely responsible to the other parties hereto for the performance
of such obligations, (iii) such Lender shall remain the holder of any such
Advances for all purposes of this Agreement, (iv) the Borrowers, the
Administrative Agent, the Swing Line Banks and the other Lenders shall continue
to deal solely and directly with such Lender in connection with such Lender's
rights and obligations under this Agreement and (v) such Lender shall not sell a
participation pursuant to this Section 8.07(e) to any bank or other entity which
is not a Lender, a Lender Affiliate or a Person described in clause (viii) of
the definition of "Eligible Assignee" in Section 1.01 without the consent of the
Borrowers, such consent not to be unreasonably withheld. Any agreement or
instrument pursuant to which a Lender sells such a participation shall provide
that such Lender shall retain the sole right to enforce this Agreement and to
approve any amendment, modification or waiver of any provision of this
Agreement; PROVIDED, HOWEVER, that such agreement or instrument may provide that
such Lender will not, without the consent of the participant, agree to any
amendment, modification or waiver described in the first proviso to Section 8.01
that affects such participant. Subject to paragraph (f) of this Section, the
Borrowers agree that each participant shall be entitled to the benefits of
Sections 2.03(b), 2.11, 2.14 and 8.04(c) to the same extent as if it were a
Lender and had acquired its interest by assignment pursuant to paragraph (b) of
this Section. To the extent permitted by law, each participant also shall be
entitled to the benefits of Section 8.05 as though it were a Lender, provided
such participant agrees to be subject to Section 2.15 as though it were a
Lender.

<Page>

                                                                              50

                  (f) A participant shall not be entitled to receive any greater
payment under Section 2.11 or 2.14 than the applicable Lender would have been
entitled to receive with respect to the participation sold to such participant,
unless the sale of the participation to such participant is made with the
Borrowers' prior written consent. A participant that is organized under the laws
of a jurisdiction outside the United States shall not be entitled to the
benefits of Section 2.14 unless the Borrowers are notified of the participation
sold to such participant and such participant agrees, for the benefit of the
Borrowers, to comply with Section 2.14(e) as though it were a Lender.

                  (g) Any Lender may, in connection with any assignment or
participation or proposed assignment or participation pursuant to this Section
8.07, disclose to the assignee or participant or proposed assignee or
participant, any information relating to the Borrowers furnished to such Lender
by or on behalf of the Borrowers; PROVIDED, HOWEVER, that, prior to any such
disclosure, the assignee or participant or proposed assignee or participant
shall agree to preserve the confidentiality of any Confidential Information
relating to the Borrowers received by it from such Lender on terms substantially
the same as those applicable to such Lender under Section 8.08.

                  (h) Notwithstanding any other provision set forth in this
Agreement, any Lender may at any time create a security interest in all or any
portion of its rights under this Agreement (including, without limitation, the
Advances owing to it) in favor of any Federal Reserve Bank in accordance with
Regulation A of the Board of Governors of the Federal Reserve System, and each
Borrower will, if requested, issue a note to be pledged to such Federal Reserve
Bank evidencing its obligations in respect of principal of and interest on
Advances of such Lender hereunder.

                  (i) Except as expressly provided in this Agreement, the Swing
Line Banks may not assign or delegate any of their respective rights and duties
hereunder without the prior written consent of the Borrowers and the
Administrative Agent.

                  (j) Prior to any assignment to, or purchase of a participation
by, any employee benefit plan or any entity the assets of which would be
considered "plan assets" within the meaning of U.S. Department of Labor
regulations (29 CFR ss. 2510.3-101, or any successor thereto) (together referred
to herein as "employee benefit plans") of any rights and obligations under this
Agreement, each such employee benefit plan or other such entity shall represent
to the Borrowers that the holding of any such assignment or the purchase and
holding of any such participation hereunder by such plan or other entity is
exempt from the prohibited transaction rules of ERISA and the Internal Revenue
Code of 1986, as amended from time to time. This representation shall be made on
each date from and including the date of any assignment or purchase of any
participation and through the date of disposition thereof.

                  SECTION 8.08. CONFIDENTIALITY. None of the Administrative
Agent or any Lender shall disclose any Confidential Information to any Person
without the consent of the Borrowers, other than (a) to the Administrative
Agent's or such Lender's Affiliates and its and their officers, directors,
employees, agents and advisors and to actual or prospective Eligible Assignees
and participants, and then only on a confidential basis, (b) as required by any
law, rule or regulation or judicial process and (c) as requested or required by
any state, federal or foreign authority or examiner regulating banks or banking.

<Page>

                                                                              51

                  SECTION 8.09. PARITY. If at any time hereafter either Borrower
shall enter into a Similar Credit Agreement (i) that shall contain a term or
condition (not including any such term or condition which would otherwise be
subject to this clause (i) but relates to the matters as are covered herein
by Section 2.03 or the definition of "Applicable Rate" in Section 1.01) which
a reasonable Person would conclude is favorable to a lender and that is not
contained in this Agreement or (ii) that shall contain a modification of a
term or condition (not including any such term or condition which would
otherwise be subject to this clause (ii) but relates to the matters as are
covered herein by Section 2.03 or the definition of "Applicable Rate" in
Section 1.01) contained herein, which a reasonable Person would conclude is
more favorable to a lender than the term or condition as set forth herein,
then such Borrower will promptly notify the Administrative Agent and the
Lenders of such term or condition (or modification thereof) and, at the
request of the Majority Lenders, shall agree to an amendment of this
Agreement so that it shall contain such a term or condition or modification,
as the case may be, applicable to such Borrower. "Similar Credit Agreement"
means a committed senior unsecured bank credit agreement or similar agreement
with respect to indebtedness for money borrowed (which shall not be deemed to
include letter of credit facilities) (i) which has an initial commitment
termination date of 364 days or less, (ii) the proceeds of which may be used
by a Borrower for the same purposes the proceeds hereunder are permitted to
be used by such Borrower under Section 2.16 and (iii) which contains terms
and conditions which, when taken as a whole, have similar or comparable
import and effect on the relevant Borrower and its Subsidiaries as the terms
and conditions contained in Section 6.01(j).

                  SECTION 8.10. SURVIVAL. All covenants, agreements,
representations and warranties made by the Borrowers and the Principal
Subsidiaries herein and in the certificates or other instruments delivered in
connection with or pursuant to this Agreement shall be considered to have been
relied upon by the other parties hereto and shall survive the execution and
delivery of this Agreement and the making of any Advances, regardless of any
investigation made by any such other party or on its behalf and notwithstanding
that the Administrative Agent or any Lender may have had notice or knowledge of
any Default or incorrect representation or warranty at the time any credit is
extended hereunder, and shall continue in full force and effect as long as the
principal of or any accrued interest on any Advance or any fee or any other
amount payable under this Agreement is outstanding and unpaid and so long as the
Commitments have not expired or terminated. The provisions of Sections 2.11,
2.12, 2.13 and 8.04 and Article VII shall survive and remain in full force and
effect regardless of the consummation of the transactions contemplated hereby,
the repayment of the Advances and the expiration or termination of the
Commitments or the termination of this Agreement or any provision hereof.

                  SECTION 8.11. GOVERNING LAW. This Agreement shall be governed
by, and construed in accordance with, the laws of the State of New York.

                  SECTION 8.12. EXECUTION IN COUNTERPARTS. This Agreement may be
executed in any number of counterparts and by different parties hereto in
separate counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute one and the same
agreement.

                  SECTION 8.13. CURRENCY INDEMNITY. The sole currency of account
and payment for all sums payable by the Borrowers under this Agreement,
including in respect of indemnities, costs and damages, is Dollars. Any amount
received or recovered in a currency other than Dollars (whether as a result of a
judgment or order

<Page>

                                                                              52

of a court of any jurisdiction, or the enforcement thereof, in the winding up
or dissolution of a Borrower or otherwise) by the Administrative Agent, or
any Lender in respect of any sum expressed to be due to it from a Borrower
shall only constitute a discharge to such Borrower to the extent of the
amount of Dollars that the recipient is able to purchase with the amount so
received or recovered in that currency on the date of that receipt or
recovery (or, if it is not practicable to make that purchase on that date, on
the first date on which it is practicable to do so). If that amount of
Dollars is less than the amount of Dollars expressed to be due to the
recipient under this Agreement, the applicable Borrower shall indemnify it
against any loss sustained by it as a result. In any event, the applicable
Borrower shall indemnify the recipient against the cost of making any such
purchase. For the purpose of this Agreement, it will be sufficient for any
recipient to demonstrate that it would have suffered a loss had an actual
purchase been made. These indemnities constitute a separate and independent
cause of action, shall apply irrespective of any indulgence granted by the
Administrative Agent or any Lender and shall continue in full force and
effect despite any other judgment, order, claim or proof for a liquidated
amount in respect of any sum due under this Agreement or any other judgment
or order.

                  SECTION 8.14. WAIVER UNDER EXISTING CREDIT AGREEMENTS. The
banks who are parties to the Existing Credit Agreements agree that their
commitments thereunder and their rights under the Guarantee Agreement (as
defined in the Existing Credit Agreement referred to in clause (i) of the
definition of such term) shall be deemed terminated upon the effectiveness of
this Agreement pursuant to Section 3.01 and hereby waive any prior notice of
such termination of their commitments under either of the Existing Credit
Agreements.

                  SECTION 8.15. WAIVER OF JURY TRIAL. EACH OF THE BORROWERS, THE
ADMINISTRATIVE AGENT AND THE LENDERS HEREBY IRREVOCABLY WAIVES ALL RIGHT TO
TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON
CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE
GUARANTEE, THE ADVANCES OR THE ACTIONS OF THE ADMINISTRATIVE AGENT OR ANY LENDER
IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF.

                  SECTION 8.16. JURISDICTION; CONSENT TO SERVICE OF PROCESS. (a)
Each of the Borrowers hereby irrevocably and unconditionally submits, for itself
and its property, to the nonexclusive jurisdiction of any New York State court
or Federal court of the United States of America sitting in the Borough of
Manhattan, The City of New York, and any appellate court from any thereof, in
any suit, action or proceeding arising out of or relating to this Agreement
or any other document delivered hereunder, or for recognition or enforcement
of any judgment, and each of the parties hereto hereby irrevocably and
unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in such New York State or, to the
extent permitted by law, Federal court. Each of the parties hereto agrees
that a final judgment in any such action or proceeding shall be conclusive
and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by law. Nothing in this Agreement shall affect any
right that the Administrative Agent or any Lender may otherwise have to bring
any action or proceeding relating to this Agreement or any other document
delivered hereunder against any Borrower or any of its Subsidiaries or any of
their respective properties in the courts of any jurisdiction.

<Page>

                                                                              53

                  (b) Each of the Borrowers hereby irrevocably and
unconditionally waives, to the fullest extent it may legally and effectively do
so, any objection which it may now or hereafter have to the laying of venue of
any suit, action or proceeding arising out of or relating to this Agreement or
any other document delivered hereunder in any New York State or Federal court.
Each of the parties hereto hereby irrevocably waives, to the fullest extent
permitted by law, the defense of an inconvenient forum to the maintenance of
such action or proceeding in any such court.

                  (c) Each party to this Agreement irrevocably consents to
service of process in the manner provided for notices in Section 8.02. Nothing
in this Agreement will affect the right of any party to this Agreement to serve
process in any other manner permitted by law.

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their respective officers thereunto duly authorized, as of the date
first above written.

                                   CREDIT SUISSE FIRST BOSTON, INC.,

                                    by: /s/ Lewis H. Wirshba
                                       -----------------------------------------
                                       Name: Lewis H. Wirshba
                                       Title: Managing Director and Corporate
                                              Treasurer

                                   CREDIT SUISSE FIRST BOSTON (USA), INC.,

                                    by: /s/ Lewis H. Wirshba
                                       -----------------------------------------
                                       Name: Lewis H. Wirshba
                                       Title: Managing Director and Corporate
                                              Treasurer

                                   THE CHASE MANHATTAN BANK, in its
                                   individual capacity and as Administrative
                                   Agent,

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

                                   THE BANK OF NEW YORK,

                                    by:
                                       -----------------------------------------
                                       Name:
                                       Title:
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their respective officers thereunto duly authorized, as of the date
first above written.

                                   CREDIT SUISSE FIRST BOSTON, INC.,

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

                                   CREDIT SUISSE FIRST BOSTON (USA), INC.,

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

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

                                   THE CHASE MANHATTAN BANK, in its
                                   individual capacity and as Administrative
                                   Agent,

                                    by: /s/ Jane Buyers Russo
                                       -----------------------------------------
                                       Name: Jane Buyers Russo
                                       Title: Managing Director

                                   THE BANK OF NEW YORK,

                                    by:
                                       -----------------------------------------
                                       Name:
                                       Title:
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed by their respective officers thereunto duly authorized, as of the date
first above written.

                                   CREDIT SUISSE FIRST BOSTON, INC.,

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

                                   CREDIT SUISSE FIRST BOSTON (USA), INC.,

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

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

                                   THE CHASE MANHATTAN BANK, in its
                                   individual capacity and as Administrative
                                   Agent,

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

                                   THE BANK OF NEW YORK,

                                    by: /s/ John Vinci
                                       -----------------------------------------
                                       Name: John Vinci
                                       Title: Vice President
<Page>

                                   BANK ONE, NA (MAIN OFFICE CHICAGO)

                                    by: /s/ Denise de Diego
                                       -----------------------------------------
                                       Name: Denise de Diego
                                       Title: Director, Capital Markets

                                   CITIBANK, N.A.,

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

                                   DEUTSCHE BANK AG, NEW YORK
                                   BRANCH AND/OR CAYMAN ISLANDS BRANCH,

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

                                    by:
                                       -----------------------------------------
                                       Name:
                                       Title:
<Page>

                                   BANK ONE, NA (MAIN OFFICE CHICAGO)

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

                                   CITIBANK, N.A.,

                                    by: /s/ Shirley C. Henning
                                       -----------------------------------------
                                       Name: Shirley C. Henning
                                       Title: Vice President

                                   DEUTSCHE BANK AG, NEW YORK
                                   BRANCH AND/OR CAYMAN ISLANDS BRANCH,

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

                                    by:
                                       -----------------------------------------
                                       Name:
                                       Title:
<Page>

                                   BANK ONE, NA (MAIN OFFICE CHICAGO)

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

                                   CITIBANK, N.A.,

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

                                   DEUTSCHE BANK AG, NEW YORK
                                   BRANCH AND/OR CAYMAN ISLANDS BRANCH,

                                    by: /s/ Gayma Z. Shivnarain
                                       -----------------------------------------
                                       Name: Gayma Z. Shivnarain
                                       Title: Director

                                    by: /s/ John S. McGill
                                       -----------------------------------------
                                       Name: John S. McGill
                                       Title: Director
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  IntesaBci  New York Branch

                            by: /s/ J. Dickerhof
                               --------------------------------
                               Name: J. Dickerhof
                               Title: Vice President

                            /s/ Frank Maffei
                            -----------------------------------
                            Frank Maffei
                            Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Bank of Tokyo-Mitsubishi Trust Company

                            by: /s/ Jean L. Still
                               --------------------------------------
                               Name: Jean L. Still
                               Title: Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  BNP Paribas

                            by: /s/ Frank Sodano
                               --------------------------------
                               Name: Frank Sodano
                               Title: Director

                               /s/ Richard Ungaro
                               --------------------------------
                               Richard Ungaro
                               Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Commerzbank AG, New York and
                               Grand Cayman Branches

                            by: /s/ Lawrence J. Manochio
                               --------------------------------
                               Name: Lawrence J. Manochio
                               Title: Assistant Treasurer

                            by: /s/ Joseph J. Hayes
                               --------------------------------
                               Name: Joseph J. Hayes
                               Title: Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Credit Lyonnais New York Branch

                            by: /s/ Gina Harth-Cryde
                               --------------------------------
                               Name: Gina Harth-Cryde
                               Title: Senior Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Danske Bank A/S

                            by: /s/ Anders Iversen
                               --------------------------------
                               Name: Anders Iversen
                               Title: Vice President

                            by: /s/ John A. O'Neill
                               --------------------------------
                               Name: John A. O'Neill
                               Title: Assistant General Manager
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  HSBC Bank USA

                            by: /s/ Paul N. Lopez
                               --------------------------------
                               Name: Paul N. Lopez
                               Title: FVP
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Lloyds TSB Bank plc

                            by: /s/ Michael J. Gilligan
                               --------------------------------
                               Name: Michael J. Gilligan
                               Title: Director, Financial
                                      Institutions, USA  G311

                      LENDER:  Lloyds TSB Bank plc

                            by: /s/ Paul D. Briamonte
                               --------------------------------
                               Name: Paul D. Briamonte
                               Title: Director-Project
                                      Finance (USA)  B374

<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Mellon Bank

                            by: /s/ Thomas Caruso
                               --------------------------------
                               Name: Thomas Caruso
                               Title: Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Standard Chartered Bank

                            by: /s/ William Hughes
                               --------------------------------
                               Name: William Hughes
                               Title: Senior Vice President

                            by: /s/ Robert Gilbert
                               --------------------------------
                               Name: Robert Gilbert
                               Title: Senior Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Svenska Handelsbanken

                            by: /s/ Geoffrey Walker
                               --------------------------------
                               Name: Geoffrey Walker
                               Title: Senior Vice President

                            by: /s/ H.N. Bacon
                               --------------------------------
                               Name: H.N. Bacon
                               Title: Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Westpac Banking Corporation

                            by: /s/ Diane Wilson
                               --------------------------------
                               Name: Diane Wilson
                               Title: Head of Corporate &
                                      Institutional Relationships
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  National Australia Bank Limited

                            by: /s/ Michael G. McHugh
                               --------------------------------
                               Name: Michael G. McHugh
                               Title: Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Norddeutsche Landesbank Girozentrale,
                               New York and/or Cayman Islands Branch

                            by: /s/ Georg Peters
                               --------------------------------
                               Name: Georg Peters
                               Title: Vice President

                            by: /s/ Hinrich Holm
                               --------------------------------
                               Name: Hinrich Holm
                               Title: Vice President

<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Royal Bank of Canada

                            by: /s/ B.F. Heintzman
                               --------------------------------
                               Name: B.F. Heintzman
                               Title: Senior Manager
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Banco Santander Central Hispano, S.A.

                            by: /s/ Jorge Saavedra
                               --------------------------------
                               Name: Jorge Saavedra
                               Title: Vice President

                            by: /s/ Sen Louie
                               --------------------------------
                               Name: Sen Louie
                               Title: Assistant Vice President

<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Bayerische Landesbank
                               Bayerische Landesbank Girozentrale
                               Brienner Strasse 20
                               80277 Munchen

                            by: /s/ Peter Walcher
                               --------------------------------
                               Name: Peter Walcher
                               Title: First Vice President

                            by: /s/ Andrea Henkel
                               --------------------------------
                               Name: Andrea Henkel
                               Title: Vice President

<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Landesbank Baden-Wurttemberg
                               London Branch
                               Bucklersbury House, 83 Cannon Street
                               London  EC4N 8TJ

                            by: /s/ Jon March
                               --------------------------------
                               Name: Jon March
                               Title: Manager

                            by: /s/ Ulrike Kaes
                               --------------------------------
                               Name: Ulrike Kaes
                               Title: Assistant Manager

<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Skandinaviska Enskilda Banken AB (publ)

                            by: /s/ Pedro Ekeroth
                               --------------------------------
                               Name: Pedro Ekeroth
                               Title:

                            by: /s/ Ulf Hellners
                               --------------------------------
                               Name: Ulf Hellners
                               Title:

<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Wells Fargo Bank, N.A.

                            by: /s/ Edward J. Meyer, Jr.
                               --------------------------------
                               Name: Edward J. Meyer, Jr.
                               Title: Vice President

                            by: /s/ Michael J. Giese
                               --------------------------------
                               Name: Michael J. Giese
                               Title: Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  WESTDEUTSCHE LANDESBANK GIROZENTRALE
                               through the New York Branch

                            by: /s/ Lillian T. Lum
                               --------------------------------
                               Name: Lillian T. Lum
                               Title: Director

                            by: /s/ Salvatore Battinelli
                               --------------------------------
                               Name: Salvatore Battinelli
                               Title: Managing Director
                                      Credit Department
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Banca Di Roma
                               New York Branch

                            by: /s/ A. Paoli
                               --------------------------------
                               Name: A. Paoli
                               Title: Assistant Treasurer

                            by: /s/ C. Strike
                               --------------------------------
                               Name: C. Strike
                               Title: Assistant Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Australia and New Zealand
                               Banking Group Limited

                            by: /s/ Roy J. Marsden
                               --------------------------------
                               Name: Roy J. Marsden
                               Title: Executive Vice President--
                                      Americas
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  BANCA ANTONIANA POPOLARE VENETA,
                               New York Branch

                            by: /s/ Domenico P. Loschiavo
                               --------------------------------
                               Name: Domenico P. Loschiavo
                               Title: Senior Vice President &
                                      Deputy Manager

                            by: /s/ Constantine L. Manzini
                               --------------------------------
                               Name: Constantine L. Manzini
                               Title: General Counsel

<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Banca Monte dei Paschi di Siena S.p.A.

                            by: /s/ Giulio Natalicchi
                               --------------------------------
                               Name: Giulio Natalicchi
                               Title: Senior Vice President &
                                      General Manager

                            by: /s/ Brian R. Landy
                               --------------------------------
                               Name: Brian R. Landy
                               Title: Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  CREDIT INDUSTRIEL ET COMMERCIAL

                            by: /s/ Eric Dulot
                               --------------------------------
                               Name: Eric Dulot
                               Title: Vice President

                            by: /s/ Dora DeBlasi Hyduk
                               --------------------------------
                               Name: Dora DeBlasi Hyduk
                               Title: Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  The Fuji Bank, Limited

                            by: /s/ Yuji Tanaka
                               --------------------------------
                               Name: Yuji Tanaka
                               Title: Vice President & Manager
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  BAYERISCHE HYPO- UND VEREINSBANK AG,
                               NEW YORK BRANCH

                            by: /s/ Debra L. Laskowski
                               --------------------------------
                               Name: Debra L. Laskowski
                               Title: Managing Director

                            by: /s/ Charles J. Sahli
                               --------------------------------
                               Name: Charles J. Sahli
                               Title: Associate Director

<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Royal Bank of Scotland PLC

                            by: /s/ Andy Powell
                               --------------------------------
                               Name: Andy Powell
                               Title: Senior Relationship Manager
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  Sumitomo Mitsui Banking Corporation

                            by: /s/ Peter R. C. Knight
                               --------------------------------
                               Name: Peter R. C. Knight
                               Title: Senior Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  BBL International (UK) Limited

                            by: /s/ C.P. Wright
                               --------------------------------
                               Name: C.P. Wright
                               Title: Authorized Signatory

                            by: /s/ G.A. Michael
                               --------------------------------
                               Name: G.A. Michael
                               Title: Authorized Signatory
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  The Northern Trust Company

                            by: /s/ Jaron Grimm
                               --------------------------------
                               Name: Jaron Grimm
                               Title: Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  The Tokai Bank, LTD.

                            by: /s/ Shinichi Makatani
                               --------------------------------
                               Name: Shinichi Makatani
                               Title: Assistant General Manager
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  The Sanwa Bank, Limited

                            by: /s/ Jean-Michel Fatovic
                               --------------------------------
                               Name: Jean-Michel Fatovic
                               Title: Vice President
<Page>

                                                  SIGNATURE PAGE TO THE CREDIT
                                                  SUISSE FIRST BOSTON, INC. AND
                                                  CREDIT SUISSE FIRST BOSTON
                                                  (USA), INC. 364-DAY AUCTION
                                                  BID ADVANCE AND REVOLVING
                                                  CREDIT FACILITY AGREEMENT,
                                                  DATED AS OF MAY 25, 2001.

                      LENDER:  UNICREDITO ITALIANO-NEW YORK BRANCH

                            by: /s/ Christopher Eldin
                               --------------------------------
                               Name: Christopher Eldin
                               Title: First Vice President &
                                      Deputy Manager

                            by: /s/ Saiyed Abbas
                               --------------------------------
                               Name: Saiyed Abbas
                               Title: Vice President

<Page>

                                                                       EXHIBIT F

                        GUARANTEE AGREEMENT (this "AGREEMENT") dated as of
                   May 25, 2001, from CREDIT SUISSE GROUP, a corporation with
                   limited liability organized under the laws of Switzerland
                   (the "GUARANTOR"), in favor of the Beneficiaries (as defined
                   herein).

            Reference is made to the U.S. $3,500,000,000 364-Day Auction Bid
Advance and Revolving Credit Facility Agreement dated as of May 25, 2001 (as
amended, supplemented or modified from time to time, the "CREDIT AGREEMENT"),
among Credit Suisse First Boston, Inc. ("CSFB INC."), Credit Suisse First Boston
(USA), Inc. ("CSFB (USA)" and, together with CSFB Inc., (the "BORROWERS"), the
financial institutions party thereto, as lenders (the "Lenders"), The Chase
Manhattan Bank, as Administrative Agent (the "AGENT") and The Bank of New York,
Bank One, NA (Main Chicago Office), Citibank, N.A. and Deutsche Bank AG, New
York Branch and/or Cayman Islands Branch, as Syndication Agents (the
"SYNDICATION AGENTS").

            The Lenders have agreed to extend credit to the Borrowers pursuant
to, and subject to the terms specified in, the Credit Agreement. The obligations
of the Lenders to extend credit under the Credit Agreement are conditioned on,
among other things, the execution and delivery by the Guarantor of a guarantee
agreement in the form hereof. As the indirect or direct owner of 100% of the
issued and outstanding voting stock of each of CSFB Inc. and CSFB (USA), the
Guarantor derives substantial benefits from the extension of credit to the
Borrowers under the Credit Agreement. As consideration therefor and in order to
induce the Lenders to extend credit to the Borrowers under the Credit Agreement,
the Guarantor is willing to execute and deliver this Agreement. Accordingly, the
parties hereto agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

            SECTION 1.01. TERMS DEFINED IN THE CREDIT AGREEMENT. Capitalized
terms used herein and not defined herein shall have the meanings set forth in
the Credit Agreement.

            SECTION 1.02. DEFINITION OF CERTAIN TERMS USED HEREIN. As used
herein, the following terms shall have the following meanings:

            "BENEFICIARIES" shall mean the Lenders, the Administrative Agent and
      their respective successors and assigns.

            "BORROWED MONEY" includes any Indebtedness (a) for or in respect of
      money borrowed or raised (whether or not for cash) by whatever means
      (including acceptances, deposits and finance leases) or (b) for the
      deferred purchase price of assets or services (other than goods or
      services obtained on normal commercial terms in the ordinary course of
      trading or business).

            "CREDIT AGREEMENT" shall have the meaning assigned to such term in
      the recitals hereto.

<Page>

                                                                               2

            "DOLLARS" or "$" shall mean lawful money of the United States of
      America.

            "ENCUMBRANCE" shall mean any mortgage, charge, pledge, lien or other
      encumbrance securing any obligation of any Person or any other type of
      preferential arrangement (including, without limitation, title transfer
      and retention arrangements) having a similar effect:

            "INDEBTEDNESS" shall include any obligation (whether incurred as
      principal or as surety) for the payment or repayment of money, whether
      present or future, actual or contingent.

                                   ARTICLE II

                                    GUARANTEE

            SECTION 2.01. GUARANTEE. The Guarantor unconditionally and
irrevocably guarantees, as a primary obligor and not merely as a surety, the due
and punctual payment by each Borrower of (i) the principal of and premium, if
any, and interest (including interest accruing during the pendency of any
bankruptcy, insolvency, receivership or similar proceeding, regardless of
whether allowed or allowable as a claim in such proceeding) on the Advances made
to such Borrower, when and as due, whether at maturity, by acceleration, upon
one or more dates set for prepayment or otherwise, and (ii) all other monetary
obligations, including fees, costs, expenses and indemnities, of each Borrower
to the Lenders or the other Beneficiaries under the Credit Agreement (including
monetary obligations incurred during the pendency of any bankruptcy, insolvency,
receivership or similar proceeding, regardless of whether allowed or allowable
as a claim in such proceeding) (all the foregoing obligations being collectively
called the "OBLIGATIONS"). The Guarantor further agrees that the Obligations may
be extended or renewed, in whole or in part, without notice to or further assent
from it, and that it will remain bound upon its guarantee notwithstanding any
extension or renewal of any Obligation.

            SECTION 2.02. PAYMENT AND PERFORMANCE. If at any time either
Borrower fails to make any payment to the Beneficiaries of any or all the
Obligations when due (subject to any applicable notice or grace periods) under
and in strict accordance with the terms of the Credit Agreement, the Guarantor
shall, on or before the Business Day immediately following the date of written
demand by the Administrative Agent or any Beneficiary, pay to such Beneficiary
or to the Administrative Agent for the benefit of the Beneficiaries any
Obligations that such Borrower has failed to pay as aforesaid. Any amounts paid
by the Guarantor hereunder in respect of Advances, interest and fees shall be
applied in accordance with the terms of the Credit Agreement.

            SECTION 2.03. GUARANTEE OF PAYMENT. The Guarantor further agrees
that its guarantee hereunder constitutes a guarantee of payment when due and not
of collection, and waives any right to require that any resort be had by the
Administrative Agent or any Lender to any balance of any deposit account or
credit on the books of the Administrative Agent or any Lender in favor of either
Borrower or any other person.

<Page>

                                                                               3

            SECTION 2.04. NO DISCHARGE OR DIMINISHMENT OF GUARANTEE. The
obligations of the Guarantor hereunder shall be absolute and unconditional and
shall not be subject to any reduction, limitation, impairment or termination for
any reason, including, without limitation, any claim of waiver, release,
surrender, alteration or compromise, and shall not be subject to any defense or
setoff, counterclaim, recoupment or termination whatsoever by reason of the
invalidity, illegality or unenforceability of the Obligations or otherwise.
Without limiting the generality of the foregoing, the obligations of the
Guarantor hereunder shall not be discharged or impaired or otherwise affected
by:

            (a) the failure of the Administrative Agent or any Beneficiary to
      assert any claim or demand or to enforce any remedy under the Credit
      Agreement, any guarantee or any other agreement;

            (b) any lack of validity or enforceability of either or both
      Borrowers' obligations under the Credit Agreement;

            (c) any change in time, manner or place of payment of, or in the
      principal amount, interest rate or any other term of, any of the
      Obligations, or any other amendment or waiver of, or any consent to or
      departure from any of the terms of, the Obligations or the Credit
      Agreement;

            (d) any change in ownership or control of either or both Borrowers
      (it being expressly understood that Obligations incurred after the date of
      any such change shall continue to be covered by this Agreement to the
      extent provided in Section 2.01);

            (e) any bankruptcy, insolvency, winding up or reorganization of, or
      similar proceedings involving, either or both Borrowers; or

            (f) any other act, omission or circumstance which might constitute a
      defense available to either or both Borrowers or might in any manner or to
      any extent vary the risk of the Guarantor or otherwise operate as a
      discharge of the Guarantor as a matter of law or equity (other than the
      indefeasible payment in full of all the Obligations).

            SECTION 2.05. AVOIDANCE OF PAYMENTS. The Guarantor further agrees
that its guarantee shall continue to be effective or be reinstated, as the
case may be, if at any time payment, or any part thereof, of principal of or
interest on any Obligation is rescinded or must otherwise be restored by the
Administrative Agent or any Beneficiary upon the bankruptcy or reorganization
of either Borrower or otherwise, all as though such payment had not been made.

            SECTION 2.06. INDEPENDENT OBLIGATIONS. The obligations of the
Guarantor hereunder are independent of the obligations of either Borrower or of
any other Person and a separate action or actions may be brought and prosecuted
against the Guarantor whether or not action is brought against either Borrower
or any other Person, and whether or not either Borrower or any other Person is
joined in such action.

<Page>

                                                                               4

            SECTION 2.07. CONTINUING OBLIGATION. This Agreement constitutes a
primary obligation of the Guarantor and is a continuing obligation and shall (a)
remain in full force and effect in accordance with the terms hereof until the
Commitments shall have expired or been terminated and the Lenders shall have
received payment in full of all the Obligations and until all possibility for
the rescission or return of any payment to the Beneficiaries shall have ended,
(b) be binding upon the Guarantor and its successors and assigns and (c) inure
to the benefit of and be enforceable by the Beneficiaries and their respective
successors and permitted assigns.

            SECTION 2.08. WAIVER. Except for notices or demands expressly
required hereunder, the Guarantor hereby waives, to the extent permitted by
applicable law, (a) acceptance hereof by the Beneficiaries, (b) presentment,
demand for performance, protest, promptness, diligence, notice of acceptance,
notice of dishonor and any other notice with respect to any of the Obligations,
this Agreement or any obligation of the Guarantor hereunder and (c) any other
notices or demands of any kind.

            SECTION 2.09. SUBROGATION. The Guarantor will not exercise any
rights against either Borrower that it may acquire by way of subrogation
hereunder, by any payment made hereunder or otherwise, until the Commitments
shall have expired or been terminated with respect to such Borrower and the
Obligations shall have been paid in full. If any amount shall nevertheless be
paid to the Guarantor on account of such subrogation rights at any time prior to
the expiration or termination of the Commitments with respect to such Borrower
and payment in full of the Obligations and all of the Guarantor's payment
obligations contained in this Agreement, such amount shall be held in trust for
the benefit of the Beneficiaries and shall forthwith be paid to the
Beneficiaries or the Administrative Agent for the benefit of the Beneficiaries
and shall be credited and applied toward the Obligations in accordance with the
terms hereof and of the Credit Agreement. Subject to the foregoing, nothing
contained in this Agreement shall be deemed a waiver of the Guarantor's right of
subrogation against either Borrower.

            SECTION 2.10. TAXES. (a) Any and all payments by the Guarantor
hereunder shall be made free and clear of and without deduction for any and all
present or future taxes, levies, imposts, deductions, charges or withholdings,
and all liabilities with respect thereto, EXCLUDING, in the case of each
Beneficiary, taxes imposed to or measured by its net income, and franchise taxes
imposed on it, by the jurisdiction under the laws of which such Beneficiary is
organized or any political subdivision thereof and, in the case of each Lender,
taxes imposed on or measured by its net income, and franchise taxes imposed on
it, by the jurisdiction of such Lender's Applicable Lending Office or any
political subdivision thereof (all such non-excluded taxes, levies, imposts,
deductions, charges, withholdings and liabilities being hereinafter referred to
as "TAXES"). If the Guarantor shall be required by law to deduct any Taxes from
or in respect of any sum payable hereunder to any Beneficiary, (i) the sum
payable shall be increased as may be necessary so that after making all required
deductions (including deductions applicable to additional sums payable under
this Section 2.10) such Beneficiary receives an amount equal to the sum it would
have received had no such deductions been made, (ii) the Guarantor shall make
such deductions and (iii) the Guarantor shall pay the full amount deducted to
the relevant taxation authority or other authority in accordance with applicable
law.

<Page>

                                                                               5

            (b) In addition, the Guarantor agrees to pay any present or future
stamp or documentary taxes or any other excise or property taxes, charges or
similar levies which arise from any payment made hereunder or from the
execution, delivery, enforcement or registration of, or otherwise with respect
to, this Agreement (hereinafter referred to as "OTHER TAXES").

            (c) The Guarantor will indemnify each Beneficiary for the full
amount of Taxes or Other Taxes (including, without limitation, any Taxes or
Other Taxes imposed by any jurisdiction on amounts payable under this Section
2.10) paid by such Beneficiary and any liability (including penalties, interest
and expenses) arising therefrom or with respect thereto, whether or not such
Taxes or Other Taxes were correctly or legally asserted. This indemnification
shall be made within 30 days from the date such Beneficiary makes written demand
therefor.

                                   ARTICLE III

                         REPRESENTATIONS AND WARRANTIES

            The Guarantor represents and warrants to each Beneficiary that:

            SECTION 3.01. ORGANIZATION; POWER. The Guarantor (i) is duly
organized, validly existing and in good standing utider the laws of Switzerland,
(ii) has all corporate power to own its property and carry its business as now
being conducted and (iii) is duly qualified to do business and is in good
standing in each jurisdiction in which it owns or leases property or in which
the conduct of its business requires it to so qualify or be licensed except to
the extent that failure to so qualify (or be so licensed or registered) does not
and is not reasonably likely to have a material adverse effect on the
consolidated financial condition or operations of the Guarantor and its
Subsidiaries.

            SECTION 3.02. AUTHORIZATION. The execution, delivery and performance
by the Guarantor of this Agreement are within the Guarantor's corporate powers,
have been duly authorized by all necessary corporate action, and do not and will
not (i) contravene the Guarantor's constitutive documents, (ii) violate any law,
rule, regulation (including, without limitation, any exchange control or similar
regulation), order, writ, judgment, injunction, decree, determination or award,
(iii) conflict with or result in the breach of, or constitute a default under,
any agreement to which the Guarantor or any of its Subsidiaries is a party or
which is binding on the Guarantor's or any of its Subsidiaries' properties or
(iv) result in or require the creation or imposition of any Lien upon or with
respect to any of the properties of the Guarantor or any of its Subsidiaries.

            SECTION 3.03. GOVERNMENTAL APPROVALS. No authorization or approval
or other action by, and no notice to or filing with, any governmental authority
or regulatory body is required for the due execution, delivery and performance
by the Guarantor of this Agreement (including, without limitation, the making of
payments hereunder in Dollars, as contemplated hereby).

<Page>

                                                                               6

            SECTION 3.04. ENFORCEABILITY. This Agreement is a legal, valid and
binding obligation of the Guarantor enforceable against the Guarantor in
accordance with its terms.

            SECTION 3.05. FINANCIAL STATEMENTS. The consolidated balance sheets
of the Guarantor and its consolidated Subsidiaries as at December 31, 2000, and
the related consolidated statements of profit and loss account and source and
application of funds of the Guarantor and such Subsidiaries for the fiscal year
or six-month period then ended, as applicable, copies of which have been
furnished to each Lender, fairly present the financial condition of the
Guarantor and such Subsidiaries as at such date and the results of the
operations of the Guarantor and such Subsidiaries for the period ended on such
date, all in accordance with applicable provisions of Swiss law. During the
period from December 31, 2000 to the date of this Agreement there has not
occurred any material adverse change in the Guarantor's financial condition or
business or in the consolidated financial position or business of it and its
Subsidiaries.

            SECTION 3.06. LITIGATION. There is no pending or threatened action
or proceeding affecting the Guarantor or any Subsidiary of the Guarantor before
any court, governmental agency or arbitrator, (a) which has or probably will
have a material adverse effect on the consolidated financial condition or
business of the Guarantor and its Subsidiaries or (b) which purports to affect
the legality, validity or enforceability of this Agreement.

                                   ARTICLE IV

                                    COVENANTS

            The Guarantor covenants and agrees with each Beneficiary that so
long as this Agreement shall remain in effect and until the Commitments have
been terminated and all the Obligations shall have been paid in full, unless the
Majority Lenders shall otherwise consent in writing, the Guarantor:

            SECTION 4.01. EXISTENCE. (a) Will preserve and maintain its
corporate existence, provided that the foregoing will not prohibit the Guarantor
from merging or consolidating with or into any other corporation if, (i)
immediately after giving effect thereto, no Default would exist and (ii) if the
Guarantor is not the surviving corporation, the surviving corporation shall
assume the Guarantor's obligations hereunder in an agreement or instrument
reasonably satisfactory in form and substance to the Majority Lenders.

            SECTION 4.02. STATUS OF GUARANTEE. Will at all times cause its
payment obligations under this Agreement to rank at least equally and ratably in
all respects with all its other unsecured and unsubordinated indebtedness except
for such indebtedness as would, by virtue only of the law in force in its place
of incorporation, be preferred ire the event of its winding-up.

            SECTION 4.03. LIENS. Will not create or have outstanding any
Encumbrance in respect of Borrowed Money on or over its assets, except for:

<Page>

                                                                               7

            (a) liens arising solely by operation of law (or by an agreement
      evidencing the same) in the ordinary course of its business in respect of
      indebtedness which either (a) has been due for less than 30 days or (b) is
      being contested in good faith and by appropriate means;

            (b) any Encumbrance created on any asset acquired by it after the
      date of this Agreement for the purpose of financing or refinancing that
      acquisition and securing a principal, capital or nominal amount not
      exceeding the cost of that acquisition;

            (c) any other Encumbrance created or outstanding with the prior
      consent of the Majority Lenders; or

            (d) any other Encumbrance created or outstanding on or over assets
      of the Guarantor provided that the aggregate outstanding principal,
      capital or nominal amount secured by all Encumbrances created or
      outstanding under this exception on or over assets of the Guarantor does
      not at any time exceed U.S.$200,000,000 or its equivalent (for the
      avoidance of doubt, any Encumbrance on shares owned by and/or shares of
      the share capital of the Guarantor in connection with the securing of
      options ("Stillhalteroptionen") shall not be considered for the purposes
      of this paragraph (d)).

                                    ARTICLE V

                                  MISCELLANEOUS

            SECTION 5.01. CURRENCY INDEMNITY. The sole currency of account and
payment for all sums payable by the Guarantor under this Agreement, including in
respect of indemnities, costs and damages, is Dollars. Any amount received or
recovered in a currency other than Dollars (whether as a result of a judgment or
order of a court of any jurisdiction, or the enforcement thereof, in the winding
up or dissolution of the Guarantor or otherwise) by any Beneficiary in respect
of any sum expressed to be due to it from the Guarantor shall only constitute a
discharge to the Guarantor to the extent of the amount of Dollars that the
recipient is able to purchase with the amount so received or recovered in that
currency on the date of that receipt or recovery (or, if it is not practicable
to make that purchase on that date, on the first date on which it is practicable
to do so). If that amount of Dollars is less than the amount of Dollars
expressed to be due to the recipient under this Agreement, the Guarantor shall
indemnify it against any loss sustained by it as a result. In any event, the
Guarantor shall indemnify the recipient against the cost of making any such
purchase. For the purpose of this Guarantee, it will be sufficient for any
Beneficiary to demonstrate that it would have suffered a loss had an actual
purchase been made. These indemnities constitute a separate and independent
cause of action, shall apply irrespective of any indulgence granted by any
Beneficiary and shall continue in full force and effect despite any other
judgment, order, claim or proof for a liquidated amount in respect of any sum
due under this Agreement or the Credit Agreement or any other judgment or order.

            SECTION 5.0. SURVIVAL OF AGEEMENT. This Agreement and the terms,
covenants and conditions hereof shall be binding upon the Guarantor and its
successors

<Page>

                                                                               8

and shall inure to the benefit of the Beneficiaries and their respective
successors and assigns. The Guarantor shall not be permitted to assign or
transfer any of its rights or obligations under this Agreement, except as
expressly contemplated by this Agreement or the Credit Agreement.

            SECTION 5.03. WAIVERS; AMENDMENT. (a) No failure on the part of any
Beneficiary to exercise, and no delay in exercising, any right, power or remedy
hereunder shall operate as a waiver thereof, nor shall any single or partial
exercise of any such right, power or remedy by any Beneficiary preclude any
other or further exercise thereof or the exercise of any other right, power or
remedy. All remedies hereunder and under the Credit Agreement are cumulative and
are not exclusive of any other remedies provided by law. Except as provided in
the Credit Agreement, neither the Administrative Agent nor the Lenders shall be
deemed to have waived any rights hereunder or under any other agreement or
instrument unless such waiver shall be in writing and signed by such parties.

            (b) (i) Neither this Agreement nor any provision hereof may be
waived, amended or modified except pursuant to a written agreement entered into
between the Guarantor and the Administrative Agent with the prior written
consent of the Majority Lenders and (ii) this Agreement shall not be terminated
and the Guarantor shall not be released from any of its obligations under
Article II of this Agreement without the prior written consent of all of the
Lenders.

            SECTION 5.04. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK.

            SECTION 5.05. NOTICES. All communications and notices hereunder
shall be in writing and given as provided in Section 8.02 of the Credit
Agreement. All communications and notices hereunder to the Guarantor shall be
given to it at:

             Credit Suisse Group
             Paradeplatz 8
             Postfach 1
             8070, Zurich
             SWITZERLAND
             Telecopy No: 41-1-333-2587

            SECTION 5.06. JURIDICTION; CONSENT TO SERVICE. The Guarantor
irrevocably agrees that any legal suit action or proceeding arising out of or
based upon this Agreement and the transactions contemplated hereby may be
instituted in any State or Federal court in the Borough of Manhattan, The
City of New York (each, a "New York Court"), irrevocably waives, to the
fullest extent it may effectively do so, any objection which it may now or
hereafter have to the laying of venue of any such proceeding in any such
court and irrevocably submits to the non-exclusive jurisdiction of any such
court in any such suit, action or proceeding. The Guarantor hereby appoints
Credit Suisse First Boston Corporation, acting through its offices located at
Eleven Madison Avenue, New York, New York 10010 in the Borough of Manhattan,
The City of New York and its successors as its authorized agent upon which
process may be served in any action arising out of or based on this Agreement
which may be instituted in any New York Court by any

<Page>

                                                                               9

Beneficiary. Such appointment shall be irrevocable until all obligations of the
Guarantor under this Agreement have been performed. The Guarantor shall take any
and all action, including the filing of any and all documents and instruments,
that may be necessary to continue such appointment or appointments in full force
and effect as aforesaid. Service of process upon the authorized agent at the
address indicated above, as such address may be changed within the Borough of
Manhattan, The City of New York by notice given by the authorized agent to the
Guarantor, shall be deemed, in every respect, effective service of process upon
the Guarantor. Notwithstanding the foregoing, any action arising out of or based
on this Guarantee may be instituted by any Beneficiary in any competent court in
Switzerland, and the Guarantor further submits to the jurisdiction of the courts
of its own domicile in any such action.

            SECTION 5.07. COST AND EXPENSES. The Guarantor agrees to pay on
demand all costs and expenses, if any (including, without limitation, reasonable
fees and expenses of counsel for any Beneficiary) in connection with the
enforcement (whether through negotiations, legal proceedings or otherwise) of
this Agreement, including, without limitation, reasonable fees and expenses of
counsel for any Beneficiary in connection with the enforcement of rights under
this Section.

            SECTION 5.08. WAIVER OF JURY TRIAL. THE GUARANTOR, THE
ADMINISTRATIVE AGENT AND THE BENEFICIARIES HEREBY IRREVOCABLY WAIVE ALL RIGHT TO
TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON
CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE
ACTIONS OF THE GUARANTOR, THE ADMINISTRATIVE AGENT OR THE BENEFICIARIES IN THE
NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT THEREOF.

<Page>

                                                                              10

            IN WITNESS WHEREOF, the Guarantor has duly executed and delivered
this Agreement as of the day and year first above written.

                                    CREDIT SUISSE GROUP,

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

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

The foregoing Guarantee
Agreement is hereby accepted
as of the date first above
written.

THE CHASE MANHATTAN BANK,
as Administrative Agent on behalf
of the Beneficiaries,

by

  -----------------------------
  Name:
  Title:<Page>

                                  LEASE BETWEEN

                     CREDIT SUISSE FIRST BOSTON (USA), INC.

                                       AND

                              THE PORT AUTHORITY OF

                             NEW YORK AND NEW JERSEY

                             AS OF OCTOBER 30, 2001

<Page>

                                  LEASE BETWEEN
                     CREDIT SUISSE FIRST BOSTON (USA), INC.
                                       AND
                  THE PORT AUTHORITY OF NEW YORK AND NEW JERSEY

                             AS OF OCTOBER 30, 2001

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

<Table>
<Caption>
DOCUMENT                                                               TAB
--------                                                               ---
<S>                                                                    <C>
Lease..................................................................  1

Overlandlord Consent...................................................  2

Subordination and Non-Disturbance Agreement............................  3
</Table>

<Page>

                     CREDIT SUISSE FIRST BOSTON (USA), INC.

                                                   Landlord

                                       TO

                              THE PORT AUTHORITY OF
                             NEW YORK AND NEW JERSEY

                                                     Tenant

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

                                      LEASE

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

                          Dated as of October 30, 2001

<Page>

                                TABLE OF CONTENTS

<Table>
<Caption>
                                                                                        PAGE
<S>                                                                                     <C>
                                    ARTICLE 1
                                   DEFINITIONS

                                    ARTICLE 2
                               PREMISES; TERM; USE

         Section 2.01.      Demise...................................................... 2
         Section 2.02.      Term........................................................ 3
         Section 2.03.      Possession Date............................................. 3
         Section 2.04.      Special Termination Rights.................................. 4
         Section 2.05.      Use......................................................... 6

                                    ARTICLE 3
                                      RENT

         Section 3.01.      Rent........................................................ 6
         Section 3.02.      Fixed Rent.................................................. 6
         Section 3.03.      Additional Charges.......................................... 6
         Section 3.04.      Tax Payments................................................ 7
         Section 3.05.      [Intentionally Omitted]..................................... 9
         Section 3.06.      Tax Provisions.............................................. 9
         Section 3.07.      Electric Charges............................................10
         Section 3.08.      Manner of Payment...........................................12
         Section 3.09.      Operating Expenses..........................................13

                                    ARTICLE 4
                                LANDLORD SERVICES

         Section 4.01.      Landlord Services...........................................19
         Section 4.02.      Auditorium and Cafeteria....................................23
         Section 4.03.      Telecommunications..........................................24

                                    ARTICLE 5
                    LEASEHOLD IMPROVEMENTS; TENANT COVENANTS

         Section 5.01.      Initial Improvements........................................25
         Section 5.02.      Alterations.................................................27
         Section 5.03.      Landlord's and Tenant's Property............................29
         Section 5.04.      Access and Changes to Building..............................30
         Section 5.05.      Repairs.....................................................31
         Section 5.06.      Compliance with Laws/Compliance Language....................32

<Page>

<S>                                                                                     <C>
         Section 5.07.      Tenant Advertising..........................................33
         Section 5.08.      Right to Perform Tenant Covenants...........................33

                                    ARTICLE 6
                            ASSIGNMENT AND SUBLETTING

         Section 6.01.      Assignment; Etc.............................................34
         Section 6.02.      Landlord's Option Right.....................................35
         Section 6.03.      Assignment and Subletting Procedures........................38
         Section 6.04.      General Provisions..........................................39
         Section 6.05.      Assignment and Sublease Profits.............................41
         Section 6.06.      Assignor Cure Rights........................................42
         Section 6.07.      Landlord Non-Disturbance....................................42

                                    ARTICLE 7
                        SUBORDINATION; DEFAULT; INDEMNITY

         Section 7.01.      Subordination...............................................42
         Section 7.02.      Estoppel Certificate........................................44
         Section 7.03.      Default.....................................................45
         Section 7.04.      Re-entry by Landlord........................................45
         Section 7.05.      Damages.....................................................45
         Section 7.06.      Other Remedies..............................................46
         Section 7.07.      Right to Injunction.........................................46
         Section 7.08.      Certain Waivers; Waiver of Trial by Jury....................47
         Section 7.09.      No Waiver...................................................47
         Section 7.10.      Holding Over................................................47
         Section 7.11.      Attorneys' Fees.............................................48
         Section 7.12.      Nonliability and Indemnification............................48
         Section 7.13.      Protest of Landlord Charges.................................49

                                    ARTICLE 8
                        INSURANCE; CASUALTY; CONDEMNATION

         Section 8.01.      Compliance with Insurance Standards.........................49
         Section 8.02.      Tenant's Insurance..........................................50
         Section 8.03.      Subrogation Waiver..........................................51
         Section 8.04.      Condemnation................................................52
         Section 8.05.      Casualty....................................................53

                                    ARTICLE 9
                            MISCELLANEOUS PROVISIONS

         Section 9.01.      Notice......................................................55
         Section 9.02.      Building Rules..............................................56
         Section 9.03.      Severability................................................56
         Section 9.04.      Certain Definitions.........................................56
         Section 9.05.      Quiet Enjoyment.............................................56

<Page>

<S>                                                                                     <C>
         Section 9.06.      Limitation of Liability.....................................57
         Section 9.07.      Counterclaims...............................................57
         Section 9.08.      Survival....................................................57
         Section 9.09.      Certain Remedies............................................57
         Section 9.10.      No Offer....................................................58
         Section 9.11.      Captions; Construction......................................58
         Section 9.12.      Amendments..................................................58
         Section 9.13.      Broker......................................................58
         Section 9.14.      Merger......................................................58
         Section 9.15.      Successors..................................................58
         Section 9.16.      Applicable Law..............................................58
         Section 9.17.      No Development Rights.......................................58
         Section 9.18.      Surrender...................................................59
         Section 9.19.      Arbitration.................................................59
         Section 9.20.      Signage.....................................................59
         Section 9.21.      Attorneys' Fees.............................................60
         Section 9.22.      Counterparts................................................60
         Section 9.23.      Invoices....................................................60

                                   ARTICLE 10
                               SUBLEASE PROVISIONS

         Section 10.01.     Sublease Provisions.........................................60

                                   ARTICLE 11
                         REPRESENTATIONS AND WARRANTIES

         Section 11.01.     Landlord's Representations and Warranties...................64
         Section 11.02.     Tenant's Representations and Warranties.....................65
</Table>

EXHIBITS

<Table>
<S>            <C>
         A.    Description of Land
         B.    Initial Premises Floor Space Plan
         C.    Rules and Regulations
         D.    Overlease
         E.    HVAC Specifications
         F.    Form of Non-Disturbance Agreement
         G.    Overlandlord Consent
         H.    Cleaning Specifications
</Table>

<Page>

                             INDEX OF DEFINED TERMS
                             -----------------------

<Table>
<Caption>
         Definition                                             Where Defined
         ----------                                             -------------

<S>                                                             <C>
         4th Floor Space.......................................  Section 2.01
         5th Floor Space.......................................  Section 2.01
         8th Floor Space.......................................  Section 2.01
         5% Fee................................................  Section 3.07
         AAA Rules.............................................  Section 9.19
         Action................................................  Section 7.11
         Additional Charges....................................  Section 3.03
         Additional Premises...................................  Section 2.01
         Additional Rent for Electricity.......................  Section 3.07
         Additional Space Notice...............................  Section 2.01
         Affiliate.............................................  Section 6.01
         Alteration Plans......................................  Section 5.02
         Arbitrator............................................  Section 9.19
         Auditorium............................................  Section 1
         Assignment Consideration..............................  Section 6.05
         Base Operating Year...................................  Section 3.09
         Base Rate.............................................  Section 3.08
         Base Tax Amount.......................................  Section 3.04
         Bid Taxes.............................................  Section 3.04
         Broker................................................  Section 9.13
         Building..............................................  Recitals
         Building Rate.........................................  Section 4.01
         Business Days.........................................  Section 4.01
         Business Hours........................................  Section 4.01
         Cafeteria.............................................  Section 1
         Casualty..............................................  Section 8.05
         Commencement Date.....................................  Section 2.02
         Contractor(s).........................................  Section 5.01
         Control...............................................  Section 6.01
         Cost Savings..........................................  Section 3.09
         Curing Party..........................................  Section 5.08
         Cut-Off Date..........................................  Section 3.09
         Eighth Floor Space....................................  Section 2.01
         Electing Party........................................  Section 9.19
         Electric Capacity.....................................  Section 3.07
         Expiration Date.......................................  Section 2.02
         Fixed Rent............................................  Section 3.02
         Fixtures..............................................  Section 5.03
         Force Majeure.........................................  Section 4.01
         Hazardous Materials...................................  Section 5.06
         HLW Report............................................  Section 1
         HVAC..................................................  Section 4.01
         Improvements and Betterments..........................  Section 5.03

<Page>

<Caption>
         Definition                                             Where Defined
         ----------                                             -------------

<S>                                                              <C>
         Indemnified Party.....................................  Section 7.12
         Initial Premises......................................  Section 2.01
         Interest Rate.........................................  Section 5.08
         Land..................................................  Recitals
         Landlord..............................................  Introduction
         Landlord Lease Termination Date.......................  Section 2.04
         Landlord Lease Termination Notice.....................  Section 2.04
         Landlord Services.....................................  Section 4.01
         Laws..................................................  Section 5.06
         Lease.................................................  Introduction
         Lease Procurement Costs...............................  Section 2.04
         Material Alteration...................................  Section 5.02
         Minor Alterations.....................................  Section 5.02
         New Tenant............................................  Section 7.10
         Non-Retail Space......................................  Section 2.05
         Operating Expenses....................................  Section 3.09
         Operating Payment.....................................  Section 3.09
         Operating Statement...................................  Section 3.09
         Operating Year........................................  Section 3.09
         Optional Location.....................................  Section 2.01
         Other Sublease Consideration..........................  Section 6.05
         Overlandlord..........................................  Section 1
         Overlease.............................................  Section 1
         Overtime Periods......................................  Section 4.01
         PASNY.................................................  Section 3.07
         Port Consolidation Event..............................  Section 2.04
         Possession Date.......................................  Section 2.03
         Premises..............................................  Section 2.01
         Project...............................................  Recitals
         Recapture Space.......................................  Section 6.02
         Rent..................................................  Section 3.01
         Repair Estimate Notice................................  Section 8.05
         Required Substantial Completion Date..................  Section 8.05
         Rules and Regulations.................................  Section 4.01
         South Building........................................  Section 1
         Standard..............................................  Section 5.05
         Subsequent Landlord Lease Termination Date............  Section 2.04
         Subsequent Notice.....................................  Section 2.04
         Successor Entity......................................  Section 6.01
         Successor Landlord....................................  Section 7.01
         Superior Lease........................................  Section 7.01
         Superior Lessor.......................................  Section 7.01
         Superior Mortgage.....................................  Section 7.01
         Superior Mortgagee....................................  Section 7.01
         Tax Payment...........................................  Section 3.04
         Tax Year..............................................  Section 3.04

                                       ii
<Page>

<Caption>
         Definition                                             Where Defined
         ----------                                             -------------

<S>                                                              <C>
         Taxes.................................................  Section 3.04
         Tenant................................................  Introduction
         Tenant Assignor.......................................  Section 6.06
         Tenant Assignee.......................................  Section 6.06
         Tenant Casualty Repair Obligations....................  Section 8.05
         Tenant Lease Termination Date.........................  Section 2.04
         Tenant Termination Notice.............................  Section 2.04
         Tenant's Basic Cost...................................  Section 6.05
         Tenant's Initial Improvements.........................  Section 5.01
         Tenant's Offer Notice.................................  Section 6.02
         Tenant's Plans........................................  Section 5.01
         Tenant's Property.....................................  Section 5.03
         Tenant's Share........................................  Section 3.04
         Term..................................................  Section 2.02
         Tower.................................................  Section 1
         Transfer Notice.......................................  Section 6.03
</Table>

                                       iii
<Page>

          LEASE (this "LEASE"), dated as of October 30, 2001, between CREDIT
SUISSE FIRST BOSTON (USA), INC. ("LANDLORD"), a New York corporation whose
address is Eleven Madison Avenue, New York, New York 10010-3629 and THE PORT
AUTHORITY OF NEW YORK AND NEW JERSEY ("TENANT"), a body corporate and politic,
created by compact between the States of New Jersey and New York, with the
consent of the Congress of the United States of America, whose address is 225
Park Avenue South, New York, New York 10003.

                               W I T N E S S E T H

          WHEREAS, Landlord is willing to lease to Tenant and Tenant is willing
to hire from Landlord, on the terms hereinafter set forth, certain space in the
office building commonly known as One Madison Avenue, New York, New York (the
"BUILDING") on the land more particularly described in EXHIBIT A (the "LAND";
the Land and the Building and all plazas, sidewalks and curbs adjacent thereto
are collectively called the "PROJECT").

          NOW, THEREFORE, Landlord and Tenant agree as follows:

                                    ARTICLE 1

                                   DEFINITIONS

            As used in this Lease, the following terms shall have the following
respective meanings:

          (a) "AUDITORIUM" means the auditorium located in the South Building
Lobby.

          (b) "CAFETERIA" means the cafeteria located on the B-2 floor of the
South Building.

          (c) "HLW Report" means that certain report, dated December 6, 2000 and
prepared by HLW and designated as Area Calculations, Project 3785.

          (d) "OVERLANDLORD" means the Metropolitan Life Insurance Company, a
New York corporation, or any successor or assign of its interest under the
Overlease.

          (e) OVERLEASE" means that certain Lease by and between Landlord and
Overlandlord, dated as of February 22, 2001, as the same may amended, modified
or supplemented from time to time. A true and correct copy of the Overlease
(with financial terms redacted) is attached hereto as Exhibit D.

          (f) "SOUTH Building" means the portions of the Building shown on the
floor plans included in the HLW Report as "Area Calculations-South Building."

          (g) "TOWER" means the portions of the Building shown on the floor
plans included in the HLW Report as "Area Calculations-Tower."

<Page>

                                    ARTICLE 2

                               PREMISES: TERM: USE

          SECTION 2.01. DEMISE. (a) Landlord hereby leases to Tenant and Tenant
hereby hires from Landlord, subject to the terms and conditions of this Lease,
the entire 7th floor of the South Building and the entire 6th floor of the Tower
substantially as shown on the plan annexed as EXHIBIT B (collectively, the
"INITIAL PREMISES") and the Additional Premises (the Initial Premises and the
Additional Premises being collectively, the "PREMISES") together with the
non-exclusive right to use and to permit its permitted subtenants, assignees and
invitees to use, in common with other tenants and occupants of the Project, the
lobbies (other than the Tower lobby), loading dock and other public portions and
common facilities of the Project subject to, and in accordance with the terms of
this Lease, including without limitation the Rules and Regulations. Landlord and
Tenant agree that the Initial Premises is conclusively deemed to contain 98,348
rentable square feet. The amount of rentable square feet in the Additional
Premises shall be as set forth in Section 2.01(b) hereof. Subject to the terms
and conditions of this Lease, Tenant shall have access to the Premises
twenty-four (24) hours per day, seven (7) days per week.

               (b) Landlord shall, in accordance with this Section 2.01(b) and
the other provisions of this Lease, separately demise to Tenant premises (the
"ADDITIONAL PREMISES") comprised, at Landlord's option, of either (x) a portion
of the 8th floor of the South Building and, if applicable, 7th floor of the
Tower (the "EIGHTH FLOOR SPACE"), (y) a portion of the 4th floor of the South
Building and, if applicable, the 3rd floor of the Tower (the "4TH FLOOR SPACE")
or (z) a portion of the 5th floor of the South Building and, if applicable, the
4th floor of the Tower (the "5TH FLOOR SPACE") (each, an "OPTIONAL LOCATION").
Landlord shall give written notice to Tenant within five days after Landlord
receives notice as to when any particular Optional Location shall be delivered
by Overlandlord to Landlord. Landlord shall deliver to Tenant written notice
(the "ADDITIONAL SPACE NOTICE") setting forth, INTER ALIA, in which Optional
Location the Additional Premises will be located in as timely a fashion from and
after the date hereof as practicable taking into consideration Landlord's own
space planning needs and the anticipated delivery schedule of the Optional
Locations from Overlandlord. Landlord shall deliver the Additional Premises to
Tenant within thirty (30) days from the date that it receives possession of the
4th Floor Space or the 5th Floor Space, as the case may be, or such longer
period as Landlord may reasonably need to physically separate the premises as
hereinafter provided, should either such Optional Locations be designated as the
Additional Premises or upon not less than fifteen (15) days after the date of
delivery of the Additional Space Notice or such longer period as Landlord may
reasonably need to physically separate the premises should Landlord designate
the 8th Floor Space as the Additional Premises. The Additional Premises shall
comprise approximately 50,000 rentable square feet and shall be located in such
portions of an Optional Location as Landlord may determine, subject to Tenant's
reasonable approval, provided, that, the Additional Premises shall, except to
the extent of DE MINIMIS variations, be divided on a north/south axis and shall
consist of an eastern or western portion. Unless the parties shall otherwise
mutually agree, in no event shall the rentable square footage of the Additional
Premises exceed 55,000 rentable square feet or be less than 45,000 rentable
square feet, such relative square footage amount being reasonably determined by
Landlord with reference to such factors as the location or proximity of

                                        2
<Page>

common areas to general floor plate of the Additional Premises and the ease and
cost of physical demise. The Additional Space Notice shall contain a floor plan
delineating the Additional Premises. In the event Tenant reasonably disapproves
of the location of the Additional Premises within such Optional Location by
written notice to Landlord, and such notice is received by Landlord within
fifteen (15) days after receipt of the Additional Space Notice, the Additional
Space Notice shall be deemed to have been delivered to Tenant on the date that
Landlord and Tenant agree on an appropriate location or the date that Landlord
delivers to Tenant a revised Additional Space Notice setting forth a location
for the Additional Premises for which Tenant has no reasonable objection. Any
dispute as to whether Landlord has acted reasonably in connection with selecting
the location of the Additional Premises shall be resolved pursuant to an
expedited arbitration in accordance with the procedures set forth in Section
9.19 hereof. The parties acknowledge and agree that the Additional Premises may
or may not contain space located on the contiguous Tower floor. The Additional
Space Notice shall set forth Landlord's determination as to the amount of
rentable square feet contained within the Additional Premises. The rentable
square footage shall be calculated using the same methodology as Landlord used
in determining the rentable square footage of the Initial Premises. Upon
possession of the Additional Premises being delivered to Tenant, Tenant shall be
deemed to have received, and is hereby granted, such rights in common with
Landlord, or other occupants of the floor on which the Additional Premises is
located, to use such corridors, hallways, restrooms, electrical closets and
other common areas on such floor as may be reasonably necessary for the
operation of Tenant's business. On or prior to the Possession Date of the
Additional Premises, Landlord shall take all steps reasonably necessary, at its
sole cost and expense, to physically separate the Additional Premises from the
premises retained by Landlord, including, without limitation, the erection of a
demising wall.

          SECTION 2.02. TERM. The term of this Lease (the TERM") shall commence
on the date (the "COMMENCEMENT DATE") that is the latest to occur of (a) the
Possession Date with respect to the Initial Premises and (b) the date that
Overlandlord's Consent to this Lease has been obtained by Landlord in the form
attached hereto as Exhibit G (or such other form as may be reasonably acceptable
to Tenant) and Overlandlord shall have executed a Subordination and
Non-Disturbance Agreement substantially in the form attached hereto as Exhibit F
and shall end, unless sooner terminated as herein provided, on the last day of
the calendar month in which occurs the tenth (10th) anniversary of the
Commencement Date ("EXPIRATION DATE").

          SECTION 2.03. POSSESSION DATE. (a) "POSSESSION DATE" shall mean (x)
with respect to the Initial Premises, the date possession of the Initial
Premises is delivered to Landlord by Overlandlord pursuant to the Overlease and
(y) with respect to the Additional Premises, on or prior to July 1, 2002,
subject to receipt by Landlord of possession of the Additional Premises from
Overlandlord pursuant to the terms of the Overlease. Landlord anticipates that
the Initial Premises shall be delivered by Overlandlord to Landlord on or prior
to November 12, 2001. In the event that the Initial Premises shall be delivered
subsequent to November 12, 2001, Landlord shall give Tenant two (2) Business
Days prior written notice of such subsequent delivery date of the Initial
Premises. Landlord shall keep Tenant reasonably apprised of the delivery
schedule of the Initial Premises as Landlord receives such information from
Overlandlord. Landlord agrees to use good faith efforts to cause Overlandlord to
deliver the Additional Premises to Landlord as soon after the date hereof as may
be reasonably practicable, provided, however, that the foregoing obligation
shall not be deemed or construed to require Landlord to expend sums of

                                        3
<Page>

money, grant any concessions to Overlandlord under the Overlease or undertake
any other measures of a significant monetary or non-monetary nature. Provided
Landlord has received Overlandlord's consent hereto, Landlord shall deliver
possession of the Premises to Tenant on the Possession Date. In the event that
Landlord is delayed in delivering possession of the Initial Premises or the
Additional Premises as a result of the failure of the Overlandlord to deliver
possession of the same to Landlord and Landlord shall have received any
additional rental abatement from Overlandlord as a result thereof, Tenant shall
be entitled to the same number of days of additional rental abatement with
respect to the premises so not delivered as Landlord shall have received from
Overlandlord, it being understood that Landlord shall have no obligation to pass
through any rental abatement for the Premises received from Overlandlord with
respect to the period prior to November 12, 2001.

          (b) Subject to Landlord's obligation to physically separate the
Additional Premises from the premises retained by Landlord as heretofore
provided, Landlord shall deliver the Premises to Tenant in the condition
Overlandlord delivers the Premises to Landlord and Tenant shall accept the
Premises "as is", provided, that, Landlord shall deliver the Premises with such
existing furniture in place as is delivered to Landlord by Overlandlord pursuant
to the Overlease. The parties hereby agree that the value of the existing
furniture is DE MINIMIS and no portion of the Rent payable hereunder is
allocable to the existing furniture. Tenant represents and warrants that Tenant
is exempt from New York State and New York City sales tax and agrees that it
shall indemnify Landlord against any New York State or New York City sales tax
which may be due and payable in connection with the leasing of such furniture.
Landlord does not make, and Tenant acknowledges that Landlord has not made or
given, any representation or warranty, express or implied, with respect to the
existing furniture or the present or future merchantability, condition, quality,
durability, fitness or suitability of the existing furniture or any part thereof
in any respect or in connection with or for the purposes and uses of Tenant, or
any other representation or warranty of any kind or character, expressed
implied. Tenant accepts the existing furniture "as-is". Notwithstanding any
other provision of this Lease, Tenant shall not be obligated to remove the
furniture delivered with the Premises from Landlord from the Premises on the
Expiration Date. Tenant waives any right to rescind this Lease under Section
223-a of the New York Real Property Law or any successor statute of similar
nature and purpose then in force and further waives the right to recover any
damages which may result from Landlord's failure for any reason to deliver
possession of the Premises for the commencement of the Term. The provisions of
this Article are intended to constitute an "express provision to the contrary"
within the meaning of Section 223-a of the New York Real Property Law.

          SECTION 2.04. SPECIAL TERMINATION RIGHTS. (a) In the event that the
Tenant named herein (i.e., the Port Authority of New York and New Jersey) or a
Permitted Successor has either (i) signed a binding, written commitment to
relocate a majority of its staff in the Building to a new building for which
construction has commenced or (ii) has undertaken a bonafide, company-wide plan
of consolidation pursuant to which Tenant shall lease no less than 4000,000
rentable square feet in a single building (or connected building complex) in
which a majority of its staff located at the Building shall be relocated to such
building (the circumstances described in the foregoing clauses (i) and (ii)
being each a "PORT CONSOLIDATION EVENT"), then, in such event, Tenant may elect
by written notice to Landlord (the "TENANT TERMINATION NOTICE") to terminate
this Lease effective as of the date (the "TENANT LEASE TERMINATION DATE") set
forth in the Tenant Termination Notice, which Tenant Lease Termination Date may
be no earlier than the

                                        4
<Page>

sixth (6th) anniversary of the Commencement Date and no later than the seventh
(7th) anniversary of the Commencement Date. In no event shall Tenant have the
right to terminate this Lease unless Tenant shall have delivered to Landlord the
Tenant Termination Notice at least eighteen (18) months prior to the Tenant
Lease Termination Date. In consideration of the right granted to Tenant herein,
Tenant shall be obligated to pay to Landlord on or prior to the Tenant Lease
Termination Date Landlord's Lease Procurement Costs. As used herein, the term
"LEASE PROCUREMENT COSTS" means, (A) if the Tenant Lease Termination Date shall
be the 6th anniversary of the Commencement Date, the sum of $1,254,877.00, (B)
if the Tenant Lease Termination Date shall be the 7th anniversary of the
Commencement Date, the sum of $977,625.00,and (C) if the Tenant Lease
Termination Date shall be a date between the 6th and 7th anniversary of the
Tenant Lease Termination Date, a sum obtained by pro-rating the amounts
described in the foregoing clauses (B) and (C) on a straight-line basis. In the
event that Tenant has properly exercised its right to terminate the Lease under
this Section 2.04(a), this Lease shall terminate on the Tenant Lease Termination
Date and the Term shall come to an end as if such date were the Expiration Date
and Tenant shall thereafter be discharged of any and all liabilities accruing
from and after the Tenant Lease Termination Date, except such obligations as by
the terms hereof expressly survive the Expiration Date.

          (b) In the event that Landlord desires to occupy the Premises for its
own use and occupancy or the use and occupancy of one of its Affiliates,
Landlord may elect by written notice to Tenant (the "LANDLORD LEASE TERMINATION
NOTICE") to terminate this Lease effective as of the date (the "LANDLORD LEASE
TERMINATION DATE") set forth in the Landlord Lease Termination Notice, which
Landlord Lease Termination Date may be no earlier than the sixth (6th)
anniversary of the Commencement Date and no later than the seventh (7th)
anniversary of the Commencement Date, provided, however, that in the event
Tenant submits to Landlord within thirty (30) days from receipt of the Landlord
Lease Termination Notice reasonably satisfactory evidence that a Port
Consolidation Event has occurred, the Landlord Lease Termination Notice shall be
deemed to have been rescinded. Landlord shall thereafter have the option, by
written notice to Tenant, to terminate this Lease effective as of the date (the
"SUBSEQUENT LANDLORD LEASE TERMINATION DATE") set forth in a subsequent written
notice to Tenant (a "SUBSEQUENT NOTICE") occurring on or after the eighth (8th)
anniversary of the Commencement Date. In no event shall Landlord have the right
to terminate this Lease unless Landlord shall have delivered to Tenant the
Landlord Termination Notice or the Subsequent Notice, as the case may be, at
least eighteen (18) months prior to the Landlord Lease Termination Date or the
Subsequent Landlord Lease Termination Date, as applicable. In the event that
Landlord has properly exercised its right to terminate the Lease under this
Section 2.04(b), this Lease shall terminate on the Landlord Lease Termination
Date or the Subsequent Landlord Lease Termination Date, as applicable, and the
Term shall come to an end as if such date were the Expiration Date and Tenant
shall thereafter be discharged of any and all liabilities accruing from and
after the Landlord Lease Termination Date or the Subsequent Landlord Lease
Termination Date, as the case may be, except such obligations as by the terms
hereof survive the Expiration Date. The right of Landlord to terminate the Lease
as provided in this Section 2.04(b) shall be personal to the Landlord originally
named herein (i.e., Credit Suisse First Boston (USA), Inc.) and its present and
future Affiliates and their successors by merger, consolidation, corporate
reorganization or sale of all or substantially all of its assets.

                                        5
<Page>

          SECTION 2.05. USE. Except to the extent expressly waived by
Overlandlord, Tenant shall use the Premises only for such uses as are permitted
pursuant to SECTION 6.1 and 6.2 of the Overlease, the terms and provisions of
which are incorporated herein by reference as if fully set forth herein, except
that the term "NON-RETAIL SPACE" theirin shall be deemed to refer to the term
"Premises" herein and Section 6.1(b) shall not be so incorporated. To the extent
permitted by the Overlease, Tenant shall have the right to include up to four
(4) classrooms in the Premises for managerial and administrative training of
Tenant's employees and contract employees only.

                                    ARTICLE 3

                                      RENT

          SECTION 3.01. RENT. "RENT" shall consist of fixed Rent and Additional
Charges.

          SECTION 3.02 FIXED RENT. (a) The fixed rent ("FIXED RENT") for the
Initial Premises shall be, for the period commencing on the Commencement Date
and ending on the day immediately preceding the fifth anniversary of the
Commencement Date, Four Million Six Hundred Twenty Two Thousand Three Hundred
Fifty Six Dollars ($4,622,356), payable in equal monthly installments of Three
Hundred Eighty Five Thousand One Hundred Ninety Six Dollars and Thirty Three
Cents ($385,196.33) and (ii) for the period commencing on the fifth anniversary
of the Commencement Date and ending on the day immediately preceding the tenth
anniversary of the Commencement Date, Five Million One Hundred Fourteen Thousand
Ninety Six Dollars ($5,114,096), payable in equal monthly installments of Four
Hundred Twenty Six Thousand One Hundred Seventy Four Dollars and Sixty Seven
Cents ($426,174.67).

          (b) The Fixed Rent for the Additional Premises shall be, (i) for the
period commencing on the later to occur of (x) the Commencement Date and (y) the
date that possession of the Additional Premises is delivered to Tenant in
accordance with Section 2.01(b), and ending on the day immediately preceding the
fifth anniversary of the Commencement Date, a sum equal to the product of (A)
$47.00 and (B) the number of rentable square feet in the Additional Premises and
(ii) for the period commencing on the fifth anniversary of the Commencement Date
and ending on the tenth anniversary of the Commencement Date, a sum equal to the
product of (A) $52.00 and (B) the number of rentable square feet in the
Additional Premises.

          (c) Fixed Rent shall be payable by Tenant in equal monthly
installments in advance on the Commencement Date and on the first day of each
calendar month thereafter, provided, that, if the Commencement Date or the date
the Additional Premises is delivered is not the first day of the month, the
Fixed Rent shall be appropriately prorated.

          SECTION 3.03. ADDITIONAL CHARGES. "ADDITIONAL CHARGES" means Tax
Payments, Operating Payments and all other sums of money, other than Fixed Rent,
at any time payable by Tenant under this Lease, all of which Additional Charges
shall be deemed to be rent.

                                        6
<Page>

          SECTION 3.04. TAX PAYMENTS. (a) "BASE TAX AMOUNT" means the Taxes
(excluding any amounts described in Section 3.04(b)(iii)) for the calendar year
2002.

          (b) "TAXES" means (i) the real estate taxes, vault taxes, assessments
and special assessments levied, assessed or imposed upon or with respect to the
Land and the Building by any federal, state, municipal or other government or
governmental body or authority (including, without limitation, any taxes,
assessments or charges imposed upon or against Project, Landlord or the owner of
the Project with respect to any business improvement district (collectively,
"BID TAXES")) but only if and to the extent that the same shall be reflected in
any tax bill with respect to the Project and after giving effect to any and all
abatements, refunds, reductions and credits which are not made expressly for the
benefit of another tenant by the Building, but expressly excluding any benefit
accruing to Landlord under any discretionary municipal incentive program (as
opposed to benefits granted by the applicable governmental entity on a
Building-wide basis "as of right", including any Building-wide benefits which
may be granted pursuant to the Industrial and Commercial Incentive Program),
(ii) all taxes assessed or imposed with respect to the rentals payable under
this Lease other than general income and gross receipts taxes; PROVIDED, that
any such tax shall exclude Commercial Rent or Occupancy Taxes imposed pursuant
to Title 11, Chapter 7 of the New York City Administrative Code so long as such
tax is required to be paid by Tenants directly to the taxing authority and (iii)
any expenses incurred by Landlord in contesting such taxes or assessments and/or
the assessed value of the Project, which expenses shall be allocated to the Tax
Year to which such expenses relate. If at any time the method of taxation shall
be altered so that in lieu of or as an addition to or as a substitute for, the
whole or any part of such real estate taxes, assessments and special assessments
now imposed on real estate, there shall be levied, assessed or imposed (x) a
tax, assessment, levy, imposition, fee or charge wholly or partially as a
capital levy or otherwise on the rents received therefrom, or (y) any other
additional or substitute tax, assessment, levy, imposition, fee or charge,
including without limitation, business improvement district and transportation
taxes, fees and assessments, then all such taxes, assessments, levies,
impositions, fees or charges or the part thereof so measured or based shall be
included in "TAXES," computed as if Landlord's sole asset were the Project. If
the owner, or lessee under a Superior Lease, of all or any part of the Project
is an entity exempt from the payment of taxes described in CLAUSES (i) and (ii),
there shall be included in "TAXES" the taxes described in clauses (i) and (ii)
which would be so levied, assessed or imposed if such owner or lessee were not
so exempt and such taxes shall be deemed to have been paid by Landlord on the
dates on which such taxes otherwise would have been payable if such owner or
lessee were not so exempt. Except as permitted in this SECTION 3.04(b), "TAXES"
shall not include (x) any municipal, state or federal taxes on Landlord's
income, franchise taxes, taxes on gross receipts or revenue, estate or
inheritance taxes value added, transfer, transfer gains, succession, capital
stock excise, excess profits, gift, foreign ownership or control, corporate
franchise, corporate, unincorporated association, payroll or stamp tax, or any
similar taxes or charges imposed or assessed against Landlord, including any
other tax, assessment, charge or levy on the rent reserved under leases,
including this Lease or (y) unless due to default in Tenant timely paying
Tenant's Tax Share hereunder, any penalties, late charges or fines imposed
against Landlord with respect to real estate taxes, assessments and the like
than are otherwise includable within the term "Taxes." If the Bid Taxes are
eliminated or reduced after the date hereof, then, as of the date of such
elimination or reduction, the Base Tax Amount shall be recalculated to take into
account the elimination or reduction of the Bid Taxes.

                                        7
<Page>

          (c) "TAX YEAR" means each period of 12 months, commencing on the first
day of July of each such period, in which occurs any part of the Term, or such
other period or 12 months occurring during the Term as hereafter may be adopted
as the fiscal year for real estate tax purposes of the City of New York.

          (d) "TENANT'S SHARE" means 6.97%, as the same may be increased or
decreased in accordance with the terms of this Lease. The parties hereto agree
that the rentable square foot area of the Premises shall be deemed to be, as of
the date hereof and prior to the addition of the Additional Premises, 98,348
rentable square feet and the rentable square foot area of the Building shall be
deemed to be 1,410,765 rentable square feet. Tenant's Share has been, and shall
be upon the addition of the Additional Premises and as otherwise provided for
herein, determined and/or redetermined by dividing the rentable square foot area
of the Premises by the rentable square foot area of the Building.

          (e) If Taxes for any Tax Year, shall exceed the Base Tax Amount,
Tenant shall pay to Landlord (each, a "TAX PAYMENT") Tenant's Share of the
amount by which Taxes for such Tax Year are greater than the Base Tax Amount.
Landlord shall give Tenant a statement showing the computation of Tenant's Share
of Taxes, which statement shall cover only those Taxes which Landlord is then
required to pay pursuant to the Overlease and such statement shall be
accompanied by copies of the applicable tax bills or other evidence showing the
Taxes or tax assessments. The Tax Payment for each Tax Year shall be due and
payable in installements in the same manner that Taxes for such Tax Year are due
and payable to the City of New York, except that Tenant shall pay each such
installment to Landlord on or before the later of (A) twenty (20) days after the
rendering by Landlord to Tenant of the above-referenced statement or (B) thirty
(30) days prior to the date such installment first becomes due and payable to
the City of New York; PROVIDED, HOWEVER, that if Landlord shall at any time be
required pursuant to the terms of any Superior Mortgage to make any escrow
payments in respect of Taxes on a more frequent basis than such installments are
due and payable to the City of New York, then Tenant shall pay to Landlord on
the first day of each period for which Landlord is required make such escrow
payments during such Tax Year an amount equal to the Tax Payment for such Tax
Year divided by the number of such escrow payments that Landlord is required to
make in respect of Taxes for such Tax Year. If there shall be any increase or
decrease in the Taxes for any Tax Year, the Tax Payment for such Tax Year shall
be appropriately adjusted and paid or refunded, as the case may be, in
accordance herewith. In no event, however, shall Tenant be entitled to a refund
or credit against any sums payable under this Lease if Taxes are reduced below
the Base Tax Amount. Except as heretofore provided, Tenant shall receive an
equitable share of any and all real estate tax incentives, abatements and
credits granted to the Building and Land during the Term of this Lease, PROVIDED
that such real estate tax incentives, abatements and credits may be directly
attributed, at least in part, to Tenant's use and occupancy of the Premises (or
any portion thereof located in the Building). Similarly, if any such incentives,
abatements or credits are directly attributed to space in the Building not
leased to Tenant in no event shall Tenant be entitled to share in any such
benefits. Landlord, at Tenant's in no event shall Tenant be entitled to share in
any such benefits. Landlord, at Tenant's sole cost and expense, shall reasonably
cooperate with Tenant in Tenant's efforts to obtain municipal tax rebates,
credits or other incentives with respect to the Premises; it being acknowledged
that any such incentives shall be the sole property of Tenant.

                                        8
<Page>

          (f) If Landlord shall receive a refund of Taxes for any Tax Year,
Landlord shall pay to Tenant Tenant's Share of the net refund (after deducting
from such refund the costs and expenses of obtaining the same, including,
without limitation, appraisal, accounting and legal fees, to the extent that
such costs and expenses were not included in the Taxes for such Tax Year);
PROVIDED, that (i) Tenant shall not be eligible to receive such payment if, at
the time such payment is required to be refunded to Tenant, Tenant is in default
under the Lease beyond any notice and grace period, if applicable, until such
time as such default iS cured, at which time such payment shall be made to
Tenant, PROVIDED, that Landlord shall be entitled to deduct any costs and
expenses arising from such default (including, withhold limitation, any payments
made to cure such default) from any such payment to be made to Tenant and (ii)
such payment to Tenant shall in no event exceed Tenant's Tax Payment paid for
such Tax Year. Such refund shall be made to Tenant within sixty (60) days of
Landlord's receipt thereof.

          (g) If the Taxes comprising the Base Tax Amount are reduced as a
result of an appropriate proceeding or otherwise, the Taxes as so reduced shall
for all purposes be deemed to be the Base Tax Amount and Landlord shall notify
Tenant of the amount by which the Tax Payments previously made were less than
the Tax Payments required to be made under this SECTION 3.04, and Tenant shall
pay the deficiency within twenty (20) days after demand therefor.

          SECTION 3.05. [INTENTIONALLY OMITTED]

          SECTION 3.06. TAX PROVISIONS. (a) Landlord's failure to render or
delay in rendering any statement with respect to any Tax Payment or installment
thereof shall not prejudice Landlord's right to thereafter render such a
statement, nor shall the rendering of an incorrect statement for any Tax Payment
or installment thereof prejudice Landlord's right to thereafter render a
corrected statement therefor. If Landlord fails to render a statement with
respect to any particular Tax Payment or installment thereof within two (2)
years after the Expiration Date of this Lease, Landlord shall be deemed to have
waived its right to claim any deficiency.

          (b) Landlord and Tenant confirm that the computations under this
ARTICLE 3 are intended to constitute a formula for agreed rental escalation and
may or may not constitute an actual reimbursement to Landlord for the Taxes. If
the Building shall be condominiumized, then Tenant's Tax Payments shall, if
necessary, be equitably adjusted such that Tenant shall thereafter continue to
pay the same share of the Taxes of the condominiumized Building as Tenant would
pay in the absence of such condominimization.

          (c) Each Tax Payment in respect of a Tax Year, which begins prior to
the commencement of the Term or ends after the expiration or earlier termination
of this Lease, and any tax refund pursuant to SECTION 3.04(f), shall be prorated
to correspond to that portion of such Tax Year occurring within the Term.

          (d) Landlord shall have no obligation to bring any application or
proceeding seeking a reduction in Taxes or the assessed valuation of the
Building. Tenant hereby waives to the fullest extent permitted by law any right
Tenant may now or in the future have to protest or contest any Taxes or to bring
any application or proceeding seeking a reduction in Taxes or the assessed
valuation of the Building or otherwise challenging the determination thereof.

                                        9
<Page>

          SECTION 3.07. ELECTRIC CHARGES. (a) Landlord shall supply the Premises
with electrical service equal to six (6) watts, demand load, exclusive of the
HVAC System serving the Premises, per rentable square foot contained in the
Premises ("ELECTRIC CAPACITY"), and shall cause Tenant's electric energy usage
to be measured on a submetering basis. If the electric service supplied to the
Premises is supplied by more than one (1) submeter, then the readings will be
aggregated through a totalizing meter and billed on a coincident demand basis as
if billed through a single meter. Landlord shall, at Landlord's expense,
purchase and install the submeter(s). Tenant shall pay Landlord, as additional
rent within thirty (30) days of receipt of its next rent bill, for the kw hours
and kw demand used by Tenant at Landlord's average cost per kilowatt hour for
the Building, plus five (5%) percent thereof for providing, reading and billing
the submetering service (the "5% FEE"). Landlord shall have the sole right to
select the provider of electricity for the Building; PROVIDED, however, that
Landlord shall not select a provider of electricity for the Buildings in which
Landlord has an economic interest other than the ownership of publicly-traded
common stock. Tenant, from time to time, shall have the right to review the
readings of Tenant's submeter(s) and Landlord's calculation of the Additional
Charges for electricity, at reasonable times and on reasonable prior notice, on
or prior to the ninetieth (90th) day after the date on which Tenant receives the
rent bill or statement which includes such Additional Charges. If (x) Tenant
participates in a rebate or incentive program sponsored by the utility company
serving the Project, (y) such rebate inures exclusively to the benefit of Tenant
and (z) such rebate or credit is paid or given to Landlord, Landlord shall pay
the amount of the same to Tenant thirty (30) days after the receipt of a request
from Tenant therefor. Notwithstanding the foregoing, Tenant shall have the right
to obtain electric service directly from the Power Authority of the State of New
York ("PASNY") provided that (i) Tenant shall have notified Landlord that it has
elected to obtain electric service from PASNY, (ii) Tenant shall pay all costs
and expenses incurred by Tenant or Landlord in connection with obtaining such
direct electric service from PASNY, including without limitation, the cost of
installing any direct meters and risers required in connection therewith, (iii)
Tenant shall pay to Landlord the 5% Fee, (iv) Tenant shall have obtained such
direct service on or before the six (6) month anniversary of the date of this
Lease, and (v) Tenant at its cost and expense shall remove all meters, risers or
other equipment installed in the Building or Premises in connection with such
direct electrical service from PASNY upon the Expiration Date or the earlier
termination of this Lease. In the event that Tenant has not contracted with
PASNY on or before the 6th month anniversary of the date of this Lease, Tenant
shall be required to obtain electrical service from Landlord in accordance with
the provisions of this Section 3.07.

          (b) Prior to the date that Landlord shall install submeter(s) at the
Initial Premises or the Additional Premises, as the case may be, Tenant shall
pay in monthly installments in advance, as additional rent for its consumption
of electricity at the Initial Premises or the Additional Premises, as
applicable, a per annum sum equal to the product of (A) $2.50 and (B) the
rentable square feet of the Initial Premises and/or the Additional Premises, as
applicable, provided, however, that until such time as Tenant shall have
occupied the Initial Premises or the Additional Premises, respectively, for the
conduct of its business, Tenant shall pay for its consumption of electricity a
per annum sum equal to the product of (A) $1.00 and (B) the rentable square feet
of the Initial Premises and/or the Additional Premises. Landlord shall install
submeter(s) at the Premises no later than one year from the Possession Date with
respect to each of the Initial Premises and the Additional Premises,
respectively.

                                       10
<Page>

          (c) If it shall become unlawful for Landlord to submeter Tenant's
electric energy usage, such usage shall thereafter be paid for and measured as
follows:

               (i) Tenant agrees to pay for its electric usage as additional
rent (hereinafter referred to as the "ADDITIONAL RENT FOR ELECTRICITY"). The
Additional Rent for Electricity shall be determined initially by a survey of the
Premises made by an electrical consultant or electrical engineer chosen by
Landlord. The survey so made will determine the number of kw hours and kw demand
based on the electrical equipment and fixtures in the Premises and the period of
use thereof, and based thereon will determine the value, expressed in dollars
per year, of Tenant's electric energy usage. The rate Tenant shall pay will be
the service classification under which the public utility bills Landlord
commensurate with the rate of usage as shown by the survey, plus five (5%)
percent of such amount for Landlord's administrative costs. The Additional Rent
for Electricity so determined, as adjusted from time to time pursuant to
subparagraphs (ii), (iii) and (iv), shall be paid by Tenant in equal monthly
installments in advance on the first day of each month during the Term, without
any set off or deduction of any kind.

               (ii) If the public utility rate schedule for the supply of
electric current to the Building shall be increased or decreased subsequent to
the date of the survey referred to above, or if there shall be an increase or
decrease in the fuel adjustment or taxes, or if additional taxes, surcharges, or
charges of any kind shall be imposed upon the sale or furnishing of such
electric current, the Additional Rent for Electricity shall be increased or
decreased by applying the changed rate, fuel adjustment and taxes to the kw
hours and kw demand shown on the electric survey then in effect.

               (iii) If there shall be a change subsequent to the initial
survey, or any future survey, in the Premises, or in the number of hours during
which the Premises is used, or if Tenant's failure to maintain its installations
in good order and repair causes greater consumption of electric current, or if
Tenant uses electricity for purposes other than the use permitted hereunder, or
if Tenant adds and fixtures, machinery or equipment which significantly
increases its electricity usage, the Additional Rent for Electricity,
theretofore adjusted, shall be increased by applying to the additional kw hours
and kw demand furnished by Landlord the Service Classification Rate under which
the public utility bills Landlord commensurate with the rate for the usage as
shown by the survey, plus five (5%) percent of such amount for Landlord's
administrative costs. If Tenant's electricity usage shall decrees due to the use
of its electric fixtures or equipment, the Additional Rent for Electricity,
theretofore adjusted, shall be decreased by applying the Service Classification
Rate aforesaid to the lesser kw hours and kw demand.

               (iv) Landlord and Tenant shall each have the right from time to
time during the Term to have an electric rate consultant or electrical engineer
survey the electric current consumed by Tenant in the Premises. If such
consultant determines that the value of the electric current furnished Tenant is
more or less than the Additional Rent for Electricity, as most recently
adjusted, such annual amount shall be further adjusted to equal the amount
determined by said consultant. The cost of the survey shall be borne by the
party ordering the same.

                                       11
<Page>

               (v) Landlord shall deliver a copy of the initial survey, and a
copy of any future survey made pursuant to this Section 3.07(c), to Tenant, and
Tenant shall have ninety (90) days within which it may protest the findings
contained therein. If Tenant fails to protest within the ninety (90) day period,
the findings contained in the survey shall be final. If Tenant protests within
the ninety (90) day period (by sending Landlord a notice in the manner herein
provided for the giving of notices), Tenant shall have a second survey made by
an electric engineer or electric rate consultant of its choice, and deliver a
copy thereof to Landlord within ninety (90) days of the date of the protest. If
Landlord's and Tenant's surveyors are unable to agree upon the amount of
electric energy consumed by Tenant, or the amount of any increase or decrease,
or an any other matter contained in the surveys, the determination of the same
shall be submitted to arbitration under the rules of the American Arbitration
Association then obtaining. The determination of the electric rate consultant or
engineer, or the American Arbitration Association if there is disagreement and
the determination is submitted to arbitration made pursuant to this
subparagraph, shall be binding on Landlord and Tenant. The parties hereto shall,
within ten (10) days from the date of any such determination, execute,
acknowledge and deliver to each other an agreement setting forth the adjusted
Additional Rent for Electricity, but such increase or decrease shall be
effective from the date of the increase or decrease (subparagraph (ii)), or
change (subparagraph (iii)), or new survey (subparagraph (iv)), whether or not
such agreement is executed, and notwithstanding the date of execution thereof.

          (d) Landlord shall not in any way be liable or responsible to
Tenant, except where due to Landlord's negligence, for any loss, damage or
expense which Tenant may sustain or incur if, during the Term, by reason of
the act or inaction of the public utility servicing the Project, either the
quantity or character of electrical energy is changed or is no longer
available or suitable for Tenant's requirements. Landlord shall not be
obligated to increase the existing electrical capacity of any portion of the
Building's systems, nor to provide any additional wiring or capacity to meet
Tenant's requirements, other than as set forth in SECTION 3.07(a). Tenant
shall make no substantial alteration or addition to the electrical equipment
in the Premises as of the commencement of the Term, nor increase the use of
electricity in the Premises (except to a DE MINIMIS extent) without the prior
written consent of the Landlord in each instance, which consent Landlord
agrees not to unreasonably withhold or delay. Subject to Tenant's Electric
Capacity right under SUBSECTION 3.07(a) herein, Tenant covenants and agrees
that at all times its use of electric current shall never exceed the capacity
of the then existing feeders of the Building or the risers or wiring
installations, and further agrees, subject to its Electric Capacity right
under SUBSECTION 3.07(a) herein, that Tenant may not use any electrical
equipment which, in Landlord's opinion, reasonably exercised, will overload
such installations or interfere with the use thereof by any other tenants of
the Building.

          SECTION 3.08. MANNER OF PAYMENT. Tenant shall pay all Rent as the same
shall become due and payable under this Lease (a) in the case of Fixed Rent and
recurring Additional Charges, by wire transfer of immediately available federal
funds as directed by Landlord, and (b) in the case of all other sums, either by
wire transfer as aforesaid or by check (subject to collection) drawn on a New
York Clearing House Association member bank, in each case at the times provided
herein without notice or demand and without setoff or counterclaim. If Landlord
shall direct Tenant to pay Fixed Rent by wire transfer, then Tenant shall not be
in default of Tenant's obligation to pay any such Fixed Rent if and for so long
as Tenant shall timely comply with Landlord's wire instructions in connection
with such payments. If Tenant shall have timely

                                       12
<Page>

complied with Landlord's instructions pertaining to a wire transfer, but the
funds shall thereafter have been misdirected or not accounted for properly by
the recipient bank designated by Landlord, then the same shall not relieve
Tenant's obligation to make the payment so wired, but shall toll the due date
for such payment until the wired funds shall have been located. All Rent shall
be paid in lawful money of the United States to Landlord at its office or such
other place as Landlord may from time to time designate. If Tenant fails timely
to pay any Rent, Tenant shall pay interest thereon from the date when such Rent
became due to the date of Landlord's receipt thereof at the lesser of (i) the
base rate from time to time to announced by Citibank, N.A. (or if Citibank, N.A.
shall not exist, such other major bank in New York, New York as shall be
designated by Landlord in a notice to Tenant) to be in effect at its principal
office in New York, New York (the "BASE RATE") plus 3% per annum or (ii) the
maximum rate permitted by law. Any Additional Charges for which no due date is
specified in this Lease shall be due and payable on the 30th day after the date
of Landlord's invoice therefor. All bills, invoices and statements rendered to
Tenant with respect to this Lease shall be binding and conclusive on Tenant
subject to Section 6.13 hereof. Notwithstanding anything to the contrary
contained in this Lease, Rent shall be due and payable on the first day of the
month and failure to pay such Rent on or prior to the first day of any month
shall be considered a default under this Lease and interest shall accrue as
provided in this SECTION 2.08 from and after the first day the Rent becomes due
and payable.

          SECTION 3.09. OPERATING EXPENSES. (a) The term "OPERATING EXPENSES"
shall mean all expenses of each and every type and nature, foreseen and
unforeseen, ordinary and extraordinary paid or incurred (without duplication of
an included item) by Landlord in respect of the operation, repair, safety,
management, security and maintenance (including deferred maintenance) of the
Premises which are necessary or appropriate for the operation of the Building as
a First-Class Office Building (as defined in the Overlease), but specifically
excluding (or deducting as appropriate) expenses incurred in connection with or
arising from:

               (i) Taxes,

               (ii) Fees paid or payable for managing and/or operating the
          Building in excess of the amount customarily charged by highly
          reputable managing and/or operating firms providing such services in
          First-Class Office Buildings;

               (iii) Any capital expenditure made by Landlord unless such
          capital expenditure results in a savings of, or reduction in,
          Operating Expenses ("COST SAVINGS"); provided, however, (i) the costs
          of such capital expenditure shall only be included in Operating
          Expenses in any Operating Year to the extent of the annual
          amortization thereon calculated on a straight-line basis over the
          useful life of such capital improvement (as reasonably determined in
          accordance with generally accepted accounting principles), together
          with interest thereon at the Interest Rate and (ii) in no event shall
          there be included in Operating Expenses for any Operating Year an
          amount greater than the amount by which Operating Expenses are reduced
          in such Operating Year due to such capital expenditure;

               (iv) Any other capital improvement or replacement not described
          in clause (iii) above made by Landlord unless such capital improvement
          is required by a Law enacted after the Commencement Date other than a
          Law which affects

                                       13
<Page>

          only leaseable space other than the than the Premises; provided,
          however, the costs of such capital improvement shall only be included
          in Operating Expenses in any Operating Year to the extent of the
          annual amortization thereon calculated on a straight-line basis over
          the useful life of such capital improvement (as reasonably determined
          in accordance with generally accepted accounting principles), together
          with interest thereon at the Interest Rate;

               (v) Any repairs (whether or not pursuant to Laws) made solely
          for the benefit of leaseable space other than Premises;

               (vi) Any machinery, equipment or tools used (A) solely within, or
          solely for the benefit of leaseable areas (other than the Premises) or
          (B) in connection with any alteration or other capital improvement or
          replacement which is excluded from Operating Expenses;

               (vii) Premiums for any insurance carried by Landlord other than
          (A) the insurance specified in Section 7.1(a), (b), (c), (d), (e),
          (f), (g) and (i) of the Overlease and (B) the insurance specified in
          Section 7.1 (h) of the Overlease to the extent that such insurance
          relates to a capital expenditure which is not excluded from Operating
          Expenses pursuant hereto.

               (viii) Professional and consulting fees, including legal and
          accounting fees, not directly related to the operation of the
          Premises;

               (ix) Computer time, telephone, bookkeeping and other expenses not
          directly related to the operation of the Premises;

               (x) Security within any leaseable space;

               (xi) Leasing or procuring subtenants for the Building, including
          leasing commissions and advertising expenses, and all legal,
          accounting and consultants, fees, disbursements and expenses incurred
          in disputes with subtenants or enforcement of subleases or entering
          into sublease or preparing space for any subtenant;

               (xii) Any items which are reimbursable to Landlord by insurance,
          warranties or otherwise other than pursuant to operating expense
          clauses similar to those in this Article 3;

               (xiii) Charges for which Landlord is entitled to reimbursement
          from any subtenant, including services rendered or performed directly
          for the account of subtenants at such subtenants' cost or for which a
          separate charge is made (other than pursuant to operating expense
          clauses similar to those in this Article 3);

               (xiv) Depreciation (provided, however, that such exclusion of
          depreciation shall not affect the inclusions in Operating Expenses of
          the amortized items required to be amortized pursuant to the
          provisions of clauses (iii) and (iv) of this Section 3.09(a));

                                       14
<Page>

               (xv) Any debt incurred by Landlord, including, without
          limitation, installments of principal and interest and any other sum
          due and payable under any mortgage (provided that the foregoing shall
          not exclude the costs of performing and obligations under such
          mortgage if such costs are not otherwise excluded under this Section
          3.09), and any expenses incurred in connection therewith;

               (xvi) Rent and other charges due and payable under the Overlease
          (provided that the foregoing shall not exclude the costs of performing
          any obligations under the Overlease if such costs are not otherwise
          excluded under this Section 3.09);

               (xvii) The cost of installing, operating and maintaining any
          specialty service or facility, such as the Auditorium, an observatory,
          broadcasting facilities, athletic or recreational club, other than the
          net costs of operating the Cafeteria during any period in which the
          Cafeteria is in operation;

               (xviii) The portion of any costs paid to a party related to
          Landlord and included in Operating Expenses which is in excess of the
          amount which would have been paid in the absence of such relationship;

               (xix) The costs of acquiring, maintaining, displaying and
          insuring all sculptures, paintings and other works of art in the
          Building (other than the costs of maintaining and insuring the Works
          of Art (as defined in the Overlease);

               (xx) Lease payments for rented equipment, the cost of which
          equipment if purchased would not be includable in Operating Expenses;

               (xxi) Income, franchise, capital stock, transfer, inheritance,
          estate or gift taxes of Landlord;

               (xxii) Investigation, removal, enclosure or encapsulation of
          asbestos or other Hazardous Materials;

               (xxiii) All employee wages, salaries and other labor costs for
          personnel above the grade of building manager and the portion of
          employee wages, salaries and other labor costs attributable to time
          not spent in connection with the Building or for items excludable from
          Operating Expenses (it being agreed that items such as vacation time,
          sick days and such other time off included in other labor costs shall
          not be deemed to be "time not spent in connection with the Building"
          but shall be apportioned in the same manner as wages and salaries);

               (xxiv) The gross negligence, willful misconduct or other tortious
          conduct of Landlord or any of Landlord's subtenants (other than Tenant
          and any person (other than Landlord) rightfully claiming by, through
          or under Tenant in its capacity as subtenant under this Lease);

               (xxv) Fines or penalties, interest or late fees imposed upon
          Landlord;

                                       15
<Page>

               (xxvi) Advertising and other promotional expenditures or any
          signage installed by Landlord in or on the Building;

               (xxvii) Landlord's Roof Installations (as defined in the
          Overlease);

               (xxviii) The contest of any Law if such Law applies solely to
          leaseable space other than the Premises;

               (xxix) Any special events (e.g., receptions, concerts);

               (xxx) Any violation by Landlord or any of Landlord's subtenants
          (other than Tenant and any person (other than Landlord) rightfully
          claiming by, through or under Tenant in its capacity as subtenant
          under this Lease) of any other sublease of space in the Building
          (provided that the foregoing shall not exclude the costs incurred by
          Landlord in performing any of Landlord's obligations (such as repairs)
          under such sublease if such costs are not otherwise excluded under
          this Section 3.09);

               (xxxi) Landlord's general corporate overhead and general and
          administrative expenses;

               (xxxii) All charitable or political contributions (other than any
          reasonable fees, dues and other contributions paid by or on behalf of
          Landlord to real estate organizations such as the Real Estate Board of
          New York and BOMA (and their successors) to the extent generally that
          landlords of First-Class Office Buildings are members thereof or make
          contributions thereto);

               (xxxiii) The incremental additional cost of providing services to
          another occupant of the Building in excess of the services which
          Landlord is obligated to provide to Tenant under this Lease at
          Landlord's expense; and

               (xxxiv) Any takeover lease obligations or lease or sublease
          obligations assumed by Landlord.

          (b) The term "OPERATING YEAR" shall mean the Base Operating Year and
each succeeding calendar year thereafter.

          (c) The term "OPERATING STATEMENT" shall mean a written statement
prepared by Landlord or its agent, setting forth Landlord's computation of the
sum payable by Tenant under this Section 3.09 for a specified Operating Year.

          (d) In determining the amount of Operating Expenses for any Operating
Year (including the Base Operating Year), if less than all of the Building
leasable area shall have been occupied by Landlord and/or subtenant(s)
(including Tenant) at any time during any such Operating Year, Operating
Expenses shall be determined for such Operating Year to be an amount equal to
the like expenses which would normally be expected to be incurred had all such
areas (to the extent of ninety-eight percent (98%) of the leasable area of the
Building, excluding

                                       16
<Page>

all Mechanical Space (as defined in the Overlease) and areas used to provide
services to which Tenant is not granted access) been occupied throughout such
Operating Year.

          (e) For each Operating Year, Tenant shall pay to Landlord as
Additional Rent, an amount (herein called the "OPERATING PAYMENT") equal to
Tenant's Share of the Operating Expenses for such Operating Year to the extent
such Operating Expenses are in excess of the Operating Expenses for the calendar
year 2002 (the "BASE OPERATING YEAR"). If Tenant's Share for an applicable
Operating Year is redetermined in a particular Operating Year, Tenant's
Operating Payment for that Operating Year shall be adjusted accordingly to
reflect the applicable redetermination of Tenant's Share.

          (f) Landlord shall furnish to Tenant, prior to the commencement of
each Operating Year after the Base Operating Year, a written statement setting
forth in reasonable detail Landlord's reasonable estimate of the Operating
Payment for such Operating Year, based upon the method set forth in the
preceding sections for computing the Operating Payment. Tenant shall pay to
Landlord on the first day of each month during such Operating Year an amount
equal to one-twelfth (1/12th) of Landlord's reasonable estimate of the Operating
Payment for such Operating Year (or the amount necessary to pay the estimate in
full in equal monthly installments prior to the expiration of the then Operating
Year). If, However, Landlord shall furnish any such estimate for an Operating
Year subsequent to the thirtieth (30th) day prior to the commencement thereof,
then (a) until the first day of the month following the month in which such
estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day
of each month an amount equal to the monthly sum payable by Tenant to Landlord
under this Section 3.09 in respect of the last month of the preceding Operating
Year; (b) promptly after such estimate is furnished to Tenant, Landlord shall
give notice to Tenant stating whether the installments of the Operating Payment
previously made for the Operating Year were greater of less than the
installments of the to be made for such Operating Year in accordance with such
estimate, and (i) if there shall be a deficiency, Tenant shall pay the amount
thereof within thirty (30) days after demand therefor, and (ii) if there shall
have been an overpayment, Landlord shall, within thirty (30) days of providing
Tenant with such estimate, at Tenant's election either refund to Tenant the
amount thereof or permit Tenant to credit the amount thereof against the Rent
against the Rent payable hereunder, and (c) on the first day of the month
commencing at least thirty (30) days subsequent to date on which such estimate
is furnished to Tenant, and monthly thereafter throughout the remainder of such
Operating Year, Tenant shall pay to Landlord an amount equal to one-twelfth
(1/12th) of the Operating Payment shown on such estimate. Landlord may, not more
than twice during each Operating Year, furnish to Tenant a revised statement of
Landlord's estimate of the Operating Payment for such Operating Year, based upon
the method set forth in the preceding sections for computing the Operating
Payment; and in such case, the Operating Payment for such Operating Year shall
be adjusted and paid or refunded, as the case may be, substantially in the same
manner as provided in the preceding sentence.

          (g) Within one hundred twenty (120) days after the end of each
Operating Year occurring after the Base Operating Year, Landlord shall furnish
to Tenant an Operating Statement for such Operating Year, based on the method
set forth in the preceding sections for computing the Operating Payment and
certified by a reputable independent certified public accountant selected by
Landlord setting forth in reasonable detail the actual Operating Expenses

                                       17
<Page>

incurred by Landlord during such Operating Year. If the Operating Statement
shall show that the sums paid by Tenant exceeded the Operating Payment to be
paid by Tenant for such Operating Year, Landlord shall promptly at Tenant's
election either refund to Tenant the amount of such excess or permit Tenant to
credit the amount of such excess against subsequent payments of Rent payable
under this Lease; and if the Operating Statement for such Operating Year shall
show that the sums so paid by Tenant were less than the Operating Payment to be
paid by Tenant for such Operating Year, Tenant shall pay the amount of such
deficiency within thirty (30) days after demand therefor. If the Operating
Statements shall show that the estimated sums theretofore estimated by Landlord
and paid by Tenant for such operating Year exceeded the Operating Payment for
such Operating Year by more than ten (10%) percent, Landlord shall pay to Tenant
interest on the excess over ten (10%) percent at the Interest Rate from the end
of the applicable Operating Year to which the overpayment relates to the date
such overpayment is refunded or credited.

          (h) Each Operating Statement given by Landlord shall be conclusive and
binding upon Tenant (i) unless within three (3) months after the receipt of the
Operating Statement for the succeeding Operating Year, Tenant shall notify
Landlord that it disputes the correctness of the Operating Statement specifying
the particular respects in which the Operating Statement is claimed to be
incorrect, and (ii) if such disputes shall not have been settled by agreement
within three (3) months after such notice of dispute, either party may submit
the dispute to arbitration in accordance with the provisions of Section 8.19
hereof. Pending the determination of such dispute by agreement or arbitration as
aforesaid, Tenant shall within thirty (30) days after the receipt of such
Operating Statement pay the Operating Payment in accordance with Landlord's
statement, without prejudice to Tenant's position. If the dispute shall be
determined in Tenant's favor, Landlord shall forthwith pay to Tenant the amount
of Tenant's overpayment resulting from compliance with Landlord's Operating
Statement and interest, if applicable, in accordance with Section 3.09(g)
hereof.

          (i) If an Operating Year ends after the expiration or termination of
this Lease, the Operating Payment in respect thereof shall be appropriately
prorated.

          (j) The failure of Landlord to render an Operating Statement for any
Operating Year shall not prejudice Landlord's right, or relieve Landlord of the
obligation, to thereafter render such Operating Statement or relieve or release
Tenant from any obligation to pay Tenant's Share of Operating Expenses for any
Operating Year, but, if Landlord shall fail to render an Operating Statement for
any year by June 30 of the succeeding calendar year, Tenant may cease to pay,
until such Operating Statement is rendered, estimated installments of Tenant's
Operating Payment. Further, Landlord shall be precluded from adjusting any
Operating Statement to increase the costs included within Tenant's Share of
Operating Expenses subsequent to the date (the "CUT-OFF DATE") that is
thirty-six (36) months subsequent to the expiration of the Operating Year to
which the applicable Operating Statement relates, but nothing shall preclude or
prevent Landlord from furnishing Tenant with corrections or adjustments to any
Operating Statement for any applicable Operating Year prior to the applicable
Cut-Off Date.

          (k) Tenant, upon reasonable notice, may (but only with its authorized
employees or with a firm of reputable independent certified public accountants
selected by Tenant) elect to examine such of Landlord's books and records with
respect to the applicable Operating

                                       18
<Page>

Statement (collectively, "Records") as are directly relevant to any disputed
amount included in the Operating Statement in question. In making such
examination, Tenant shall, and shall cause its officers, employees and
accountants to, keep confidential any and all information contained in the
Records.

          (l) Subject to the foregoing clause (j) of this Section, the
provisions of this Article 3 shall survive the expiration or earlier termination
of this Lease as to all Additional Charges due Landlord or credit owed Tenant
accruing on or before the date of such expiration or termination, including all
disputed items as well as the Additional Charges due for the last Operating
Year, or portion thereof, falling within the Term. Within one hundred fifty
(150) days following such expiration or earlier termination, Landlord shall
render to Tenant a preliminary uncertified Operating Statement, and Landlord and
Tenant shall, subject to year-end adjustments, preliminarily adjust the amount
due Landlord or Tenant, as the case may be, for such last year or portion
thereof, subject to year-end adjustments, and the party owing any portion of the
same to the other shall promptly pay the same. Landlord shall issue a final
Operating Statement for such last year or portion thereof on or before April 30
of the succeeding calendar year, and all amounts due Landlord or Tenant based
thereon shall be adjusted between the parties.

                                    ARTICLE 4

                                LANDLORD SERVICES

          SECTION 4.01. LANDLORD SERVICES. (a) From and after the date that
Tenant first occupies any portion of the Premises for the conduct of Tenant's
business, Landlord shall continue to operate the Building in the same manner as
it is being operated as of the date hereof and Landlord shall furnish Tenant
with the following services (collectively, "LANDLORD SERVICES"):

               (i) Landlord shall furnish air conditioning, ventilation and heat
("HVAC") (i) to the common areas of the Building, including, without limitation,
the Building lobby to the extent such areas would customarily be provided with
such services and (ii) to the Premises, during the hours between 8:00 A.M. and
6:00 P.M. on Business Days, subject to all Laws and in accordance with the
Specifications for HVAC, which are attached hereto as Exhibit E. Landlord,
throughout the Term, shall have free access to any and all mechanical
installations of Landlord, including, but not limited to, air-cooling, fan,
ventilating and machine rooms and electrical closets; Tenant shall not construct
partitions or other obstructions which may unreasonably interfere with
Landlord's free access thereto, or unreasonably interfere with the moving of
Landlord's equipment to and from the enclosures containing said installations.
Neither Tenant, nor its agents, employees or contractors shall at any time enter
the said enclosures or tamper with, adjust or touch or otherwise in any manner
affect said mechanical installations.

               (ii) Tenant acknowledges that, during hours other than Business
Hours ("OVERTIME PERIODS"), the Premises will likely require overtime or
alternative HVAC for comfortable occupancy. Tenant further acknowledges that the
normal operation of the HVAC

                                       19
<Page>

System is not designed to provide sufficient cooling of portions of the Premises
which shall have an electrical load in excess of 4 watts per square foot of area
for all purposes (including lighting and power) or which shall have a human
occupancy factor in excess of one person per 150 square feet of usable area.
Tenant shall be responsible for the proper distribution of HVAC throughout each
floor of the Premises based upon its design criteria, occupancy, equipment and
lighting and other factors which affect the effective cooling or heating of each
floor.

               (iii) The Fixed Rent does not reflect or include any charge to
Tenant for the furnishing of any HVAC to Premises during Overtime Periods.
Accordingly, if Landlord furnishes HVAC to the Premises at the request of Tenant
during Overtime Periods, then Tenant shall pay Landlord additional rent for such
services at the Building Rate. As used herein, the term "BUILDING RATE" shall
mean Landlord's cost of providing HVAC services, as reasonably determined by
Landlord (without additional charge), computed on the basis of (a) the cost of
labor and (b) charges for electricity and other utilities. Landlord shall not be
required to furnish any such services during any Overtime Period unless Landlord
has received advance written notice delivered to Landlord's designated building
manager from Tenant requesting such services prior to 3:00 P.M. of the day upon
which such services are requested or by 3:00 P.M. of the last preceding Business
Day if such Overtime Periods are to occur on a day other than a Business Day. If
Tenant fails to give Landlord such advance notice, then failure by Landlord to
furnish or distribute any such services during such Overtime Periods shall not
constitute an actual or constructive eviction, in whole or in part, or entitle
Tenant to any abatement or diminution of Rent, or relieve Tenant from any of its
obligations under this Lease, or impose any liability upon Landlord or its
agents by reason of inconvenience or annoyance to Tenant, or injury to or
interruption of Tenant's business or otherwise. If more than one tenant
utilizing the same system as Tenant requests the same Overtime Periods for the
same services as Tenant, the charge to Tenant shall be adjusted pro rata.

          (iv) Tenant shall be entitled to Tenant's Share of the 500 tons of
condenser water in the Building and Landlord agrees to reserve Tenant's Share
for the operation of Tenant's supplemental air conditioning units servicing the
Premises on a twelve-month basis. Tenant shall advise Landlord by no later than,
with respect to the Initial Premises, May 1, 2002 and, with respect to the
Additional Premises, the later of May 1, 2002 ninety (90) days after delivery of
the Additional Premises, of the amount of condenser water Tenant shall
thereafter need for its supplemental condenser water requirements. Prior to the
date that Tenant advises Landlord of the amount of air conditioning required,
Landlord shall reserve Tenant's Share of the condenser water. If Tenant fails to
advise Landlord of the amount of condenser water to reserve for Tenant by the
dates set forth in the preceding sentence, Tenant shall be deemed to reserve the
Tenant's Share thereof. Tenant shall pay Landlord's actual cost (not to include
depreciation or amortization of equipment) for the amount of condenser water
reserved, whether or not actually used. Landlord agrees to reasonably
substantiate such costs to Tenant with bills, invoices and other pertinent
documentation. Landlord, upon request of Tenant, will consider in good faith
increasing Tenant's Share with respect to the 500 tons of condenser water in the
Building based on the current and anticipated needs of Landlord and other
tenants at the Building. Should Landlord, after good faith consideration, advise
Tenant that it is unable to increase Tenant's share with respect to such
condenser water, Landlord shall, at Tenant's request, consider in good faith
after consideration of the amount of current and future riser space and roof
space and other relevant factors, allowing Tenant to install, at Tenant's sole
cost and

                                       20
<Page>

expense, a cooling tower on the roof of the Building for Tenant's additional air
conditioning needs, subject to such reasonable requirements and reimbursement
and indemnity obligations as Landlord may impose with respect thereto.

               (v) Landlord shall provide non-exclusive passenger elevator
service to each floor of the Premises twenty-four (24) hours per day, seven (7)
days per week, it being agreed that Landlord may reasonably reduce the number of
elevator cars in operation at times other than Business Hours.

               (vi) Landlord will, through vertical plumbing risers in the
Building, supply Tenant with (i) an adequate quantity of warm and cool water for
(a) lavatory, cleaning and drinking purposes, and (b) pantry purposes, provided
that there is no more than (4) pantries per floor of the Premises consuming not
more than (3) gallons per minute per pantry, and such pantry consists of no more
than a sink, a unit for brewing and dispensing coffee, a microwave, vending
machines and a refrigerator, and that the same are used by Tenant for standard
pantry purposes in keeping with a First-Class Office Building and (ii) a
quantity of water for Tenant's sprinklers in the Premises which complies with
Laws.

               (vii) Landlord shall provide electrical capacity equal to 6
watts, demand load, exclusive of the HVAC system serving the Premises, per
rentable square foot contained in the Premises; [such electrical capacity shall
be available at the electrical closet on each floor of the Building on which the
Premises is located (it being understood that Tenant shall be responsible for
distributing such electrical capacity from the electrical closet to the
Premises)]. In no event shall Tenant's consumption of electricity exceed the
capacity of existing feeders to the Building or the risers or wiring serving the
Premises (which shall not be less than 6 watts, demand load, exclusive of the
HVAC system serving the Premises, per rentable square foot), nor shall Tenant be
entitled to any unallocated power available in the Building unless, in
Landlord's judgment (taking into account the then existing and future reasonably
anticipated needs of other then existing and future tenants, including Landlord,
and other needs of the Building), the same is available and reasonably necessary
for Tenant's use. If such additional capacity is not available, Landlord shall,
if reasonably feasible, extend or install, at Tenant's sole cost and expense
(which expense shall equal Landlord's actual out-of-pocket costs), additional
risers.

               (viii) From and after the date that Tenant first occupies any
portion of the Premises for the conduct of Tenant's business, cleaning services
shall be provided in accordance with the standards set forth on Exhibit H
attached hereto. Landlord shall not be required to perform any (A) extra
cleaning work in the Premises required because of (w) carelessness,
indifference, misuse or neglect on the part of Tenant, its subtenants or their
respective employees or visitors, (x) interior glass partitions or an unusual
quantity of interior glass surfaces, (y) non-building standard materials or
finishes installed in the Premises and/or (z) the use of the Premises other than
during Business Hours on Business Days and/or (B) removal from the Premises and
the Building of any refuse of Tenant (x) in excess of that ordinarily
accumulated in business office occupancy, including, without limitation, kitchen
refuse and/or (y) at times other than Landlord's standard cleaning times, which
times shall be consistent with the times during which offices are customarily
cleaned. Notwithstanding the foregoing, Landlord shall not be required to clean
any portions of the Premises used for preparation, serving or consumption of
food or beverages, training rooms, data processing or reproducing operations,

                                       21
<Page>

private lavatories or toilets or other special purposes requiring greater or
more difficult cleaning work than office areas, and Tenant shall retain
Landlord's cleaning staff or Landlord's cleaning contractor, as applicable, to
perform such cleaning at Tenant's expense; provided, however, that Landlord
shall, to the extent practicable, perform the cleaning services specified on
Exhibit H in any training rooms and data processing or reproducing operations,
at no additional charge. Landlord agrees that the rate charged to Tenant for any
additional cleaning services shall be at Landlord's standard cleaning rates.
Landlord's cleaning staff or Landlord's cleaning contractor, as applicable,
shall have access to the Premises after 5:00 p.m. and before 8:00 a.m. and shall
have the right to use, without charge therefore, all light, power and water in
the Premises reasonably required to clean the Premises.

               (ix) Freight elevator service shall be provided to the Premises
on an equitable basis from 8:00 a.m. to 5:00 p.m. Monday through Friday, and on
a reserved basis at all other times upon the payment of Landlord's actual cost
for the use of the freight elevator and loading dock, including, without
limitation, the cost of an operator for elevator.

          (b) Landlord may stop or interrupt any Landlord Services, electricity,
or other service and may stop or interrupt the use of any Building facilities
and systems at such times as may be necessary and for as long as may reasonably
be required by reason of accidents, strikes, or the making of repairs,
alterations or improvements, or inability to secure a proper supply of fuel,
gas, steam, water, electricity, labor or supplies, or by reason of any other
cause (other than lack of funds) beyond the reasonable control of Landlord
("FORCE MAJEURE"). Landlord shall have no liability to Tenant by reason of any
stoppage or interruption of any Landlord Service, electricity or other service
or the use of any Building facilities and systems for any reason. Landlord shall
use reasonable diligence (which shall not include incurring overtime charges
unless (x) the stoppage or interruption is the result of Landlord's negligence
or (y) Tenant requests the same in which event Landlord shall employ contractors
or labor at so-called overtime or other premium pay rates and incur any other
overtime costs or expenses in making any repairs, and Tenant, if Tenant has
requested such service shall pay to Landlord, as additional rent, within thirty
(30) days after demand, an amount equal to the difference between the overtime
or other premium pay rates and the regular pay rates for such labor together
with any other overtime costs or expenses so incurred) to make such repairs as
may be required to machinery or equipment within the Project to provide
restoration of any Landlord Services and, where the cessation or interruption of
such Landlord Services has occurred due to circumstances or conditions beyond
the Project boundaries, to cause the same to be restored by diligent application
or request to the provider. Notwithstanding anything herein to the contrary, in
the event that any stoppage or interruption of services arises solely from
Landlord's negligence and as a result thereof Tenant is not able to occupy all
or any portion of its Premises for the conduct of its business therein for a
period in excess of ten (10) days, Fixed Rent and Additional Charges for the
portion of the Premises so affected shall be abated on a day-for-day basis for
each day following such 10-day period until such time as Tenant is able to
re-occupy the Premises (or portion thereof) for the conduct of its business.

          (c) Without limiting any of Landlord's other rights and remedies, if
Tenant shall be in material monetary default beyond any applicable notice and/or
grace period, Landlord shall not be obligated to furnish to the Premises any
service outside of Business Hours on Business Days, and Landlord shall have no
liability to Tenant by reason of any failure to provide, or

                                       22
<Page>

discontinuance of, any such service during the continuance of any such default.
For purposes hereof, material monetary default shall mean default in the payment
of Fixed Rent, recurring Additional Charges and non-recurring Additional Charges
in an amount in excess of $50,000.

          (d) "BUSINESS HOURS" means 8:00 a.m. to 6:00 p.m., Monday through
Friday. "BUSINESS DAYS" means all days except Saturdays, Sundays and holidays,
which shall include (but shall not be limited to) days which are either (i)
observed by both the federal and the state governments as legal holidays or (ii)
designated as a holiday by the applicable building service union employee
service contract or operating engineers contract; provided, that the holidays
covered under subsections (i) and (ii) above shall not be duplicative and
provided, further, that Lincoln's Birthday shall be deemed to be a Business Day.

          (e) "RULES AND REGULATIONS" means the rules and regulations attached
hereto as EXHIBIT C, as the same may be modified or amended from time to time in
Landlord's reasonable discretion, provided that Tenant shall have been given
reasonable notice of such modifications or amendments. If there is any conflict
between the provisions of the Rules and Regulations and the provisions of this
Lease, the provisions of this Lease will control. Landlord shall not
discriminate against Tenant in the promulgation and enforcement of the Rules and
Regulations.

          SECTION 4.02. AUDITORIUM AND CAFETERIA. (a) Effective as of January 1,
2002, Tenant shall have the right to utilize the Auditorium no more frequently
than once per calendar month, subject to the provisions of this SECTION 4.02.

          (b) If Tenant desires to use the Auditorium, Tenant shall give notice
to Landlord prior to November 1st of each calendar year of the dates on which
Tenant desires to use the Auditorium during the period January 1st through June
30th of the subsequent calendar year and prior to May 1st of each calendar year
of the dates on which Tenant desires to use the Auditorium during the period
July 1st through December 31st of the current calendar year. Landlord shall
grant to Tenant the use of the Auditorium on such requested dates provided the
same have not been previously reserved by Landlord or Overlandlord. In addition,
Tenant shall have the right to request the use of the Auditorium on other dates
upon such prior notice as may be practicable. Landlord shall reasonably consider
such requests in light of its and Overlandlord's anticipated use of the
Auditorium for other purposes. Landlord represents and warrants that
Overlandlord is granted the right by Landlord to use the Auditorium no more than
twelve (12) times annually and the charges therefor are the same as those set
forth in Section 4.02(c) hereof. Tenant acknowledges that Overlandlord must
specify the dates it desires to use the Auditorium on or prior to November 1st
of each calendar year and that in the event Tenant and Overlandlord request the
same date, Landlord shall give Overlandlord first priority, as is required by
the prior agreement of the parties. Landlord shall promptly notify Tenant of the
dates that Overlandlord has requested use of the Auditorium upon obtaining the
same.

          (c) Landlord shall charge Tenant for use of the Auditorium $5,000 per
day. The Auditorium may be reserved in full day or half day increments (and the
charges therefor adjusted accordingly). The foregoing charge shall be
"all-inclusive" and shall cover the costs of Landlord's supplying a customary
number of employees to operate the media equipment, cleaning, air conditioning
and all other services within the customary scope of operation of the

                                       23
<Page>

Auditorium. To the extent Tenant may request supplemental services outside of
such scope, Tenant shall billed at Landlord's actual cost therefor.

          (d) All media equipment in the Auditorium shall be operated by
Landlord's employees or agents, provided that Tenant's employees shall have the
right to be present during the operation of the media equipment to ensure the
confidentiality of all of Tenant's presentations and confidential information
and Landlord's employees or agents shall reasonably cooperate with Landlord's
employees to ensure such confidentiality.

          (e) The Cafeteria shall be operated by Landlord and Landlord's agents.
For so long as Landlord maintains the Cafeteria in the Building, Tenant will
have the right to use the Cafeteria on the same basis as Landlord and Landlord
agrees not to discriminate against Tenant in the use and enjoyment of, or access
to, the Cafeteria. In the event Landlord does not charge its employees for use
of the Cafeteria, Landlord shall change Tenant's employees the standard menu
prices for Cafeteria, Landlord agrees to make available for purchase by Tenant's
business visitors and employees "charge up" cards on the same basis as Landlord
makes such cards available to Landlord's employees and visitors by installing
one or more "cash to card" machines outside the Cafeteria. Notwithstanding
anything to the contrary in this Section 4.02(e), in no event shall the
Cafeteria be made available to any construction workers performing work at the
Building on behalf of Tenant or employees of Tenant not occupying portions of
the Premises. Landlord may establish from time to time reasonable rules and
regulations for the operation of the Cafeteria.

          SECTION 4.03. TELECOMMUNICATIONS. Subject to Landlord's reasonable
prior approval and, to the extent required by the Overlease, the written
approval of Overlandlord, Tenant shall have the right to install, maintain and
operate, at Tenant's sole cost and expense, communications equipment (e.g. a
satellite dish) in a location on the roof of the Building, which location shall
be determined in Landlord's sole discretion. Such communications equipment shall
not exceed a footprint of five (5') feet by five (5') feet and shall weigh no
more than twenty (20) pounds. Landlord shall have the right to charge Tenant for
the use of space on the roof, in an amount not to exceed $1,250.000 per annum,
and such charge shall be considered an Additional Charge under this Lease. In
addition Landlord shall provide Tenant with sufficient shaft space within the
Building which is reasonably required to satisfy Tenant's telecommunication
needs to the extent such needs are not based on telecommunications use in excess
of that which is customary for commercial tenants of First-Class Office
Buildings using premises for general administrative office use.

          SECTION 4.04. SECURITY. Landlord will furnish security for the common
areas of the Building, the procedures for which and type of security systems and
personnel involved shall be determined by Landlord, it being understood and
agreed that Landlord shall have no obligation to provide any security services
or systems to the Premises or to any area or system that is exclusively used by,
or is exclusively available to, Tenant other than existing tap-in points to the
Building's main vertical sprinkler riser and existing class "E" life-safety
system on each floor of the Premises, at Tenant's expense. Tenant, at Tenant's
expense, shall be allowed to interface its electronic security and life safety
systems with the Building's systems so that Tenant will be able to trigger the
Building's (i) security alarms through its security system (if the existing
security system, as modified, is capable of handling the same), and (ii) life
safety system

                                       24
<Page>

alarms through its life safety system (if the existing life safety system, as
modified, is capable of handling the same) provided that Tenant's systems (and
the interfacing of the same with the Building's systems) are compatible with,
and do not materially adversely affect, the Building's systems. Landlord shall
provide to Tenant employee access cards for the employees of Tenant located at
the Building, the number of which Tenant estimates to be 750, it being
understood that no employee shall be permitted access to the Building without a
valid and proper access card. The cost of the first 750 access cards shall be
borne by Landlord. Tenant shall reimburse Landlord for its actual cost of
supplying any future access cards or any replacement cards.

          SECTION 4.05. SPECIAL PARKING RESTRICTION. Tenant agrees that,
irrespective of any right it may be granted pursuant to Laws to do otherwise, it
shall not park any vehicles in the "No Standing" or "No Parking" areas on 24th
street between Madison and Park Avenues.

                                    ARTICLE 5

                    LEASEHOLD IMPROVEMENTS; TENANT COVENANTS

          SECTION 5.01. INITIAL IMPROVEMENTS. (a) On the Possession Date, Tenant
shall accept the Premises in its "as is" condition on such date, subject to
Landlord's obligation to physically separate the Additional Premises as
heretofore provided. Except to the extent expressly provided for herein, all
improvements shall be performed by Tenant at Tenant's expense in accordance with
the terms of this Article 5.

          (b) Tenant may improve the Initial Premises and the Additional
Premises for Tenant's initial occupancy in accordance with detailed
specifications and working drawings to be prepared by Tenant's architect. The
detailed specifications and working drawings are hereinafter referred to as
"TENANT'S PLANS", and the work shown by the Tenant's Plans is hereinafter
referred to as "TENANT'S INITIAL IMPROVEMENTS".

          (c) Tenant shall proceed forthwith to cause Tenant's Plans to be
prepared by an architect licensed as such in the State of New York. Tenant's
Plans, including structural and mechanical drawings and specifications, shall be
prepared at Tenant's sole cost and expense. Tenant shall submit five (5) sets of
Tenant's Plans and two (2) CAD discs which shall contain such Tenant's Plans in
CAD format to Landlord for Landlord's approval. Landlord agrees to review
Tenant's plans and to approve the same or make written exceptions thereto within
five (5) Business Days from the date of the submission of the plans. Landlord
agrees not to unreasonably withhold or delay its approval of Tenant's Plans, and
failure by Landlord to provide the written exceptions within the ten (10)
Business Day period aforesaid shall be deemed approval of Tenant's Plans. If
Landlord disapproves Tenant's Plans, Tenant shall revise them and re-submit them
to Landlord for approval. Any disapproval given by Landlord shall be accompanied
by a statement in reasonable detail of the reasons for such disapproval,
itemizing those portions of the plans so disapproved. Landlord shall advise
Tenant within ten (10) Business Days following receipt of Tenant's revised plans
of Landlord's approval or disapproval of the revised plans or portions thereof,
and shall set forth its reasons for any such further disapproval in writing and
in reasonable detail. If Landlord fails to approve or disapprove such

                                       25
<Page>

revised plans within such ten (10) Business Day period, Landlord shall be
deemed to have approved such revised plans or such portions thereof; PROVIDED
that ten (10) days prior to the expiration of such ten (10) Business Day
period, Tenant shall send a second notice to Landlord with the phrase
"FAILURE TO APPROVE OR DISAPPROVE TENANT'S PLANS, AS REVISED, WITHIN TEN (10)
DAYS AFTER THE DATE HEREOF SHALL RESULT IN THE DEEMED APPROVAL OF TENANT'S
PLANS, AS REVISED" in bold lettering at the top of such notice. Any dispute
regarding the reasonableness of Landlord's withholding of its consent to
Tenant's Plans shall be submitted to expedited arbitration pursuant to
SECTION 9.19 hereof. Upon approval by Landlord of Tenant's Plans, Tenant
shall submit the same to the New York City Department of Buildings for
approval and for issuance of a building permit to perform the Improvements.
Landlord agrees, at Tenant's cost and expense, to cooperate with Tenant and
Tenant's architect and engineer in providing information needed for the
preparation of Tenant's Plans, the application for a building permit and all
other permits required for the Improvements, and to promptly execute all
documents required to be signed by Landlord.

          (d) Tenant agrees to hire a reputable general contractor, construction
manager or subcontractors and materialmen (hereinafter "CONTRACTOR(S)") to be
approved by Landlord such approval not to be unreasonably withheld or delayed,
(other than with respect to Contractors performing connections to any Building
systems which Contractors shall be those designated by Landlord provided such
Contractors shall perform such work at market prices) to perform Tenant's
Initial improvements in a good and workmanlike manner in accordance with (x) the
approved Tenant's Plans and any material amendments or additions thereto
approved by Tenant and Landlord and all municipal authorities having
jurisdiction; PROVIDED that Landlord shall not unreasonably withhold or delay
its approval of any such material amendments or additions (it being agreed that
Landlord's approval shall not be required for any amendments, additions, change
orders or modifications to Tenant's Plans costing less than $100,000 unless the
same (i) affects the usage or the proper functioning of any of the Building
systems or (ii) materially changes the scope of Tenant's Initial Improvements)
and further provided, that, with respect to any subsequent amendments,
additions, change orders or modifications after Landlord's approval of Tenant's
Plans, Landlord shall approve or disapprove of such changes within ten (10)
business days of the receipt of such changes (to the extent such approval of
Landlord is required pursuant to this SECTION 5.01(d)) from Tenant and (y) all
provisions of Laws and any and all permits and other requirements specified by
any ordinance, law or public regulation. Tenant shall cause the Contractor(s) to
obtain and maintain throughout the work, Workers' Compensation Insurance and New
York State Disability Insurance in the amounts required under any applicable
Laws and comprehensive general liability insurance, including contractual
liability coverage, in an amount of not less than $2 million combined single
limit for bodily injury or death for any one occurrence, and for property
damage, plus a $10 million umbrella policy; PROVIDED however, that any
subcontractor or materialman shall only be required to carry such liability
insurance as is being carried by prudent subcontractors or materialman is being
employed by Tenant or its Contractors. The liability coverage shall name
Landlord and Overlandlord as additional insured parties, and Tenant shall
deliver to Landlord proper certificates of insurance confirming the coverages
described above prior to commencement of Tenant's Initial Improvements. If
Tenant acts as its own General Contractor or Construction Manager, Tenant shall
obtain and maintain such insurance. All Contractor(s) shall be members of a
union affiliated with the building trades in the city of New York that has
jurisdiction over the Building and Tenant's Initial Improvements. Tenant shall
pay

                                       26
<Page>

Landlord, within thirty (30) days after being billed therefor, the actual out of
pocket fees and disbursements paid by Landlord to architects, engineers and
other technical advisors, other than the regular staff of Landlord for reviewing
Tenant's Plans, provided such fees are commercially reasonable.

          SECTION 5.02. ALTERATIONS (a) Tenant shall make no Material
Alterations without Landlord's and, to the extent required pursuant to the terms
of the Overlease, Overlandlord's prior written approval. "MATERIAL ALTERATION"
means an Alteration that (i) is not limited to the interior of the Premises or
which affects the exterior (including the appearance) of the Building, (ii) is
structural and which in Landlord's sole judgment adversely affects the
structural integrity or the strength of the Building either during construction
or upon completion, (iii) affects the usage or the proper function of any of the
base building systems provided by Landlord, (iv) requires the consent of any
Superior Mortgage or Superior Lessor, or (v) requires any governmental permits.
In no event shall Tenant have any right to install interior stairwells or a
kitchen or other food preparation facility (other than pantries). Alterations
shall not include (and Landlord's approval shall not be required for)
decorations, painting, wall papering, carpeting or the installation or removal
of Tenant's Property or any other movable equipment, furniture, furnishings and
other personal property that is not affixed to the Premises. Tenant shall be
permitted to make improvements, changes or alterations ("MINOR ALTERATIONS") in
or to the Premises which are not Material Alterations provided that prior to
commensing performance of such Minor Alterations Tenant shall submit to Landlord
Alteration Plans therefor for Landlord's review. If Landlord notifies Tenant
that Landlord Alteration Plans therefor for Landlord's review. If Landlord
notifies Tenant that Landlord objects to such Alteration Plans within five (5)
Business Days of receipt of such plans, Tenant shall discontinue the performance
of such Minor Alterations until such plans are revised to satisfy Landlord's
reasonable objections. Upon completion of any Minor Alterations, Tenant shall
submit to Landlord a set of completed as-built drawings reflecting such Minor
Alterations.

          (b) Tenant, in connection with any Alteration, shall comply with
the Rules and Regulations applicable thereto. Tenant shall not proceed with
any Material Alteration unless and until Landlord approves Tenant's plans and
specifications ("ALTERATION PLANS") therefor in writing. Landlord shall have
twenty (20) Business Days from the submission of Tenant's Alteration Plans to
approve or disapprove of such plans. If Landlord fails to approve or
disapprove Tenant's Alteration Plans during such period, the same shall be
deemed approved. If Landlord disapproves of Tenant's Alteration Plans, such
disapproval shall be accompanied by a statement in reasonable details of the
reasons from such disapproval, itemizing those portions of the plans so
disapproved. Landlord shall advise Tenant within thirty (30) days following
the receipt of Tenant's revised plans of Landlord's approval or disapproval
of the revised Alteration Plans or portions thereof and shall set forth its
reasons for any such further disapproval in writing. If Landlord fails to
approve or disapprove such revised Alteration Plans within thirty (30) days
following the receipt thereof, Landlord shall be deemed to have approved such
revised Alteration Plans; PROVIDED that ten (10) days prior to the expiration
of such thirty (30) day period, Tenant shall send a second notice to Landlord
with the phrase "FAILURE TO APPROVE OR DISAPPROVE ALTERATION PLANS, AS
REVISED, WITHIN TEN (10) DAYS AFTER THE DATE HEREOF SHALL RESULT IN THE
DEEMED APPROVAL OF ALTERATION PLANS, AS REVISED" in bold lettering at the top
of such notice. Any dispute regarding the reasonableness of Landlord's
withholding of its approval to Tenant's Alteration Plans may be submitted to
expedited arbitration by either party pursuant to SECTION

                                       27
<Page>

9.19 of this Lease. Any review or approval by Landlord of Tenant's Alteration
Plans is solely for Landlord's benefit, and without any representation or
warranty to Tenant with respect to the adequacy, correctness or efficiency
thereof, its compliance with Laws or otherwise.

          (c) Tenant shall pay to Landlord within thirty (30) days of receipt of
Landlord's invoice therefor Landlords reasonable, actual out-of-pocket costs and
expenses paid to architects, engineers and other technical advisors by Landlord
or any Superior Lessor or Superior Mortgagee for reviewing Tenant's Alteration
Plans and inspecting Alterations.

          (d) Upon the completion of any Alteration in accordance with the terms
of this SECTION 5.02 Tenant shall submit to Landlord (x) proof evidencing the
payment in full for said Alteration, (y) written unconditional lien waivers of
mechanics' liens and other liens on the Project from all contractors performing
said Alteration and (z) all submissions required pursuant to Laws.

          (e) Tenant shall obtain (and furnish copies to Landlord of) all
necessary governmental permits and certificates for the commencement and
prosecution of Alterations and for final approval thereof upon completion, and
shall cause Alterations to be performed in compliance therewith, and in
compliance with all Laws and with the Alteration plans approved (or deemed
approved) by Landlord. Alterations shall be diligently performed in a good and
workmanlike manner, using new materials and equipment at least equal in quality
and class to the then standards for the Building reasonably established by
Landlord. Alterations shall be performed by contractors first approved by
Landlord (which approval shall not be unreasonably withheld or delayed);
PROVIDED that any Alterations which involve performing connections to any
Building system shall be performed only by the contractor(s) designated by
Landlord, which contractors shall perform such work at market prices. The
performance of any Alteration shall not be done in a manner which would violate
Landlord's union contracts affecting the project, or create any work stoppage,
picketing, labor disruption, disharmony or dispute or any interference with the
business of Landlord or any tenant or occupant of the Building. Tenant shall
immediately stop the performance of any Alteration if Landlord notifies Tenant
that continuing such Alteration would violate Landlord's union contracts
affecting the Project, or create any work stoppage, picketing, or labor
disruption, disharmony or dispute or any interference with the business of
Landlord or any tenant or occupant of the Building.

          (f) Throughout the performance of Alterations, Tenant shall carry, or
shall cause its contractors to carry, worker's compensation insurance in
statutory limits, "all risk" Builders Risk coverage and general liability
insurance, with completed operation endorsement, for any occurrence in or about
the Project, under which Landlord and its agent and any Superior Lessor and
Superior Mortgagee whose name and address have been furnished to Tenant shall be
named as parties insured, in such limits as Landlord may reasonably require,
with insurers reasonably satisfactory to Landlord. Tenant shall furnish Landlord
with evidence that such insurance is in effect at or before the commencement of
Alterations and, on request, at reasonable intervals thereafter during the
continuance of Alterations.

          (g) Should any mechanics' or other liens be filed against any portion
of the Project by reason of the acts or omissions of, or because of a claim
against, Tenant or anyone claiming under or through Tenant, Tenant shall cause
the same to be canceled or discharged of

                                       28
<Page>

record by bond or otherwise within twenty (20) days after notice from Landlord.
If Tenant shall fail to cancel or discharge said lien or liens within said
twenty (20) day period. Landlord may cancel or discharge the same and, upon
Landlord's demand, Tenant shall reimburse Landlord for all costs incurred in
canceling or discharging such liens, together with interest thereon at the
Interest Rate from the date incurred by Landlord to the date of payment by
Tenant, such reimbursement to be made within twenty (20) days after receipt by
Tenant of a written statement from Landlord as to the amount of such costs.
Tenant shall indemnify and hold Landlord harmless from and against all costs
(including, without limitation, reasonable attorneys' fees and disbursements and
costs of suit), losses, liabilities or causes of action arising out of or
relating to any Alteration, including, without limitation, any mechanics' or
other liens asserted in connection with such Alteration.

          (h) Tenant shall deliver to Landlord, within 60 days after the
completion of an Alteration, five (5) sets of "as-built" drawings thereof and
two (2) CAD discs which shall contain such "as-built" drawings in CAD format,
both of which shall have been prepared by Tenant's architect. During the Term,
Tenant shall keep records of Material Alterations including plans and
specifications, copies of contracts, invoices, evidence of payment and all other
records customarily maintained in the real estate business relating to
Alterations and the cost thereof and shall, within 30 days after demand by
Landlord, furnish to Landlord copies of such records.

          (i) All Alterations to and Fixtures installed by Tenant in the
Premises shall be fully paid for by Tenant in cash and shall not be subject to
conditional bills of sale, chattel mortgages, or other title retention
agreements.

          SECTION 5.03. LANDLORD'S AND TENANT'S PROPERTY. (a) All fixtures,
equipment, improvements and appurtenances attached to or built into the
Premises, whether or not at the expense of Tenant (collectively, "FIXTURES"),
shall be and remain a part of the Premises and shall not be removed by Tenant,
unless such Fixtures are replaced. All Fixtures constituting Improvements and
Betterments shall be the property of Tenant during the Term and, upon expiration
or earlier termination of this Lease, shall become the property of Landlord. All
Fixtures other than Improvements and Betterments shall, upon installation, be
the property of Landlord. "IMPROVEMENTS AND BETTERMENTS" means (i) all Fixtures,
if any, installed at the expense of Tenant, whether installed by Tenant or by
Landlord (I.E., excluding any Fixtures paid for by Landlord directly or by way
of an allowance) and (ii) all carpeting in the Premises.

          (b) All movable partitions, business and trade fixtures, machinery and
equipment, and all furniture, furnishings and other articles of movable personal
property owned by Tenant and located in the Premises (collectively, "TENANT'S
PROPERTY") shall be and shall remain the property of Tenant and may be removed
by Tenant at any time during the Term; PROVIDED, that if any Tenant's Property
is removed, Tenant shall repair any damage to the Premises or to the Building
resulting from the installation and/or removal thereof.

          (c) At or before the Expiration Date or any earlier termination of
this Lease, Tenant at Tenant's expense, shall remove Tenant's Property from the
Premises (except such items thereof as Landlord shall have expressly permitted
to remain, which shall become the property of Landlord), and Tenant shall repair
any damage to the Premises or the Building resulting from any installation
and/or removal of Tenant's Property. Any items of Tenant's

                                       29
<Page>

Property which remain in the Premises after the Expiration Date or any earlier
termination of this Lease, may, at the option of Landlord, be deemed to have
been abandoned, and may be retained by Landlord as its property or disposed of
by Landlord, without accountability, in such manner as Landlord shall determine,
at Tenant's expense.

          (d) Landlord shall advise Tenant at the time it approves Tenant's
plans therefore whether Landlord will require Tenant, notwithstanding SECTION
5.03(a), to remove all or any Fixtures, Improvements and Betterments, including
without being limited to, kitchens, vaults, safes, raised flooring and interior
stairwells; PROVIDED, however, that Tenant shall not be required to remove any
improvements that are solely decorative work or constitute a standard office
installation. If Landlord shall have so advised Tenant, then Tenant, at Tenant's
expense, prior to the Expiration Date or, in the case of an earlier termination
of this Lease, within 15 days after the giving of such notice by Landlord shall
remove the same from the Premises, shall repair and restore the Premises to the
condition existing prior to installation thereof and shall repair any damage to
the Premises or to the Building due to such removal. Notwithstanding the
foregoing, Tenant shall not be required to remove any Fixtures, Betterments or
Improvements located, as of the date hereof, on or in the Upper Floors of the
Premises.

          SECTION 5.04. ACCESS AND CHANGES TO BUILDING. (a) Subject to the terms
of subsection (d) below, Landlord reserves the right, at any time, to make
changes in or to the Project as Landlord may deem necessary or desirable, and
Landlord shall have no liability to Tenant therefor, provided that after such
change access to the Premises is reasonably equivalent to that which existed
prior to such change, it being agreed that the "reasonably equivalent" standard
shall not apply if such changes are made in order to comply with Laws, does not
affect the nature of the Project and does not eliminate any of the specific
benefits granted to Tenant under this Lease. Landlord may install and maintain
pipes, fans, ducts, wires and conduits within or through the walls, floors or
ceilings of the Premises; PROVIDED, that if there are no dropped ceilings in any
of the floors of the Premises, such pipes, fans, ducts, wires and conduits shall
be installed in a manner consistent with any other exposed elements. In
exercising its rights under this SECTION 5.04, Landlord shall use reasonable
efforts to (1) minimize any interference with Tenant's use of the Premises for
the ordinary conduct of Tenant's business and (2) to not reduce the size of the
Premises except to a de minimis extent. In the event that the floor space in any
floor in the Premises is reduced by more than 300 square feet and the change
which caused such reduction did not benefit Tenant, the Fixed Rent and
Additional Charges for such floor shall be proportionately reduced. Tenant shall
not have any easement or other right in or to the use of any door or any passage
or any concourse or any plaza connecting the Building with any subway or any
other building or to any public conveniences, and the use of such doors,
passages, concourses, plazas and conveniences may, without notice to Tenant, be
regulated or discontinued at any time by Landlord.

          (b) Except for the space within the inside surfaces of all walls, hung
ceilings, floors, windows and doors bounding the Premises, all of the Building,
including, without limitation, exterior Building walls, core corridor walls and
doors and any core corridor entrance, any terraces or roofs adjacent to the
Premises, and any space in or adjacent to the Premises used for shafts, stacks,
pipes, conduits, fan rooms, ducts, electric or other utilities, sinks or other
Building facilities, and the use thereof, as well as access thereto through the
Premises, are

                                       30
<Page>

reserved to Landlord and are not part of the Premises. Landlord reserves the
right to name the Building to change the name or address of the Building at any
time and from time to time.

          (c) Landlord shall have no liability to Tenant if at any time any
windows of the Premises are either temporarily darkened or obstructed by reason
of any repairs, improvements, maintenance and/or cleaning in or about the
Building (or permanently darkened or obstructed if required by Law) or covered
by any translucent material for the purpose of energy conservation, or if any
part of the Building, other than the Premises, is temporarily or permanently
closed or inoperable; PROVIDED, that if the same adversely affects Tenant's use
and occupancy of the Premises, Landlord shall only have the right to do so if
required by Law. If any time the windows of the Premises are temporarily closed,
darkened or bricked-up, Landlord shall perform such repairs, maintenance,
alterations or improvements with reasonable diligence as are reasonably required
to restore the same and, unless such condition has been imposed pursuant to Law,
Landlord shall use reasonable efforts to minimize the period of time during
which such windows are temporarily closed, darkened or bricked up.

          (d) Landlord and persons authorized by Landlord shall have the right,
at reasonable times and upon reasonable advance notice to Tenant (except in an
emergency), to enter the Premises (together with any necessary materials and/or
equipment), to inspect or perform such work as Landlord may reasonably deem
necessary or to allow Overlandlord to exhibit the Premises to prospective
purchasers or others and, during the last 24 months of the Term, to exhibit to
prospective tenants, or for any other purpose as Landlord may deem necessary or
desirable. Landlord shall use reasonable efforts not to interfere with Tenant's
use and occupancy of the Premises in connection with the exercise of Landlord's
rights under this SECTION 5.04(d). To the extent that Tenant has designated
portions of the Premises as "secured areas," except in cases of emergency,
Landlord shall not enter into such areas unless accompanied by an employee of
Tenant. Landlord shall have no liability to Tenant by reason of any such entry.
Landlord shall not be required to make any improvements or repairs of any kind
or character to the Premises during the Term, except as otherwise set forth in
this Lease. Any work performed or installations made pursuant to this Section
shall be made with reasonable diligence, and Landlord shall use due diligence to
repair any damage to the Premises or Tenant's Property as a result of such work
or installations.

          SECTION 5.05. REPAIRS. (a) Tenant shall keep the Premises (including,
without limitation, all Fixtures) in good condition and, upon expiration or
earlier termination of the Term, shall, subject to the terms and conditions of
SECTION 5.03(d) herein, surrender the same to Landlord in the same condition as
when first occupied, reasonable wear and tear excepted. Tenant's obligation
shall include, without limitation, the obligation to repair all damage caused by
Tenant, its agents, employees, invitees and licensees to the equipment and other
installations in the Premises or anywhere in the Building. Any maintenance,
repair or replacement to the windows (including, without limitation, any solar
film attached thereto), the Building systems, the Building's structural
components or any areas outside the Premises and which is Tenant's obligation to
perform shall be performed by Landlord at Tenant's expense (which expense shall
be equal to Landlord's actual out-of-pocket costs, which shall be commercially
reasonable). Tenant shall not commit or allow to be committed any waste or
damage to any portion of the Premises or the Building.

                                       31
<Page>

          (b) Landlord shall at all times operate and maintain the Building in
accordance with the standards that are customarily followed in the operation and
maintenance of First-Class Office Buildings (as defined in the Overlease)(the
"STANDARD").

          (c) Landlord shall use reasonable efforts to minimize interference
with Tenant's use and occupancy of the Premises in making any repairs,
alterations, additions or improvements to the Building or in the cleaning and
maintenance thereof; PROVIDED, HOWEVER, that Landlord shall have no obligation
to employ contractors or labor at so-called overtime or other premium pay rates
or to incur any other overtime costs or expenses whatsoever, except that
Landlord, at its expense shall employ contractors or labor at so-called overtime
or other premium pay rates if necessary to make any repair required to be made
by it hereunder to remedy any condition that either (i) results in a denial of
access to the Premises and/or (ii) except in the case of a fire or other
casualty, precludes Tenant from conducting its business from more than thirty
percent (30%) of the Premises. In all other cases, at Tenant's request, Landlord
shall employ contractors or labor at so-called overtime or other premium pay
rates and incur any other overtime costs or expenses in making any repairs,
alterations, additions or improvements to the extent it is practicable to do so,
and Tenant shall pay to Landlord, as additional rent, within twenty (20) days
after demand, an amount equal to the difference between the overtime or other
premium pay and straight time pay.

          SECTION 5.06. COMPLIANCE WITH LAWS/COMPLIANCE LANGUAGE. (a) Tenant
shall comply with all laws, ordinances, rules, orders and regulations (present,
future, ordinary, extraordinary, foreseen or unforeseen) of any governmental,
public or quasi-public authority and of the New York Board of Underwriters, the
New York Fire Insurance Rating Organization and any other entity performing
similar functions, at any time duly in force (collectively "LAWS"), attributable
to any work, installation, occupancy, particular use or particular manner of use
(as opposed to mere "office" use) by Tenant of the Premises or any part thereof.
Nothing contained in this SECTION 5.06 shall require Tenant to make any
structural changes unless the same are necessitated by reason of Tenant's
particular manner of use of the Premises or the particular use by Tenant of the
Premises for purposes other than normal and customary ordinary office purposes.
Tenant shall procure and maintain all licenses and permits required for its
business. Nothing contained herein shall be deemed or be construed as a
submission by Tenant to the application to itself of any such laws.

          (b) Except to the extent the same is Tenant's responsibility pursuant
to SECTION 5.06(a) above or elsewhere in this Lease, Landlord shall comply with
all Laws in effect as of the Possession Date applicable to the common areas of
the Building generally made available to tenants of the Building, but only if
Tenant's use of the Premises shall be materially and adversely affected by
non-compliance therewith, subject to Landlord's right to contest the
applicability or legality of such Laws.

          (c) Tenant, at its sole cost and expense and after reasonable, written
notice to Landlord, may contest by appropriate proceedings prosecuted diligently
and in good faith, the legality or applicability of any Laws affecting the
Premises and with which it is obligated to comply pursuant to SUBSECTION (a)
above, provided that (a) Landlord shall not be subject to imprisonment or to
prosecution for a crime, nor shall the Project or any part there of be subject
to being condemned or vacated, nor shall the certificate of occupancy for the
Premises or the

                                       32
<Page>

Building be suspended or threatened to be suspended by reason of non-compliance
or by reason of such contest; (b) such non-compliance or contest shall not
constitute or result in a violation (either with the giving of notice or the
passage of time or both) of the terms of any Superior Mortgage or Superior
Lease; (c) Tenant shall indemnify Landlord against the cost of such compliance
and liability resulting from or incurred in connection with such contest or
non-compliance, and (d) Tenant shall keep Landlord regularly advised as to the
status of such proceedings. Landlord agrees that it shall reasonably cooperate
with Tenant's efforts to contest the validity or applicability to the Premises
of any Laws; PROVIDED that (i) the provisions of clauses (a) through (d) of this
Section shall be complied with and (ii) Landlord shall not incur any expense or
liability in connection therewith.

          (d) Tenant shall not use or dispose of any Hazardous Materials in the
Premises. "HAZARDOUS MATERIALS," as used herein, shall mean any flammables,
explosives, radioactive materials, hazardous wastes, hazardous and toxic
substances or related materials, as defined by any Federal, state or local
environmental law, ordinance, rule or regulation, including, without limitation,
the Comprehensive Environmental Response Liability Act, as amended, the Resource
Conservation and Recovery Act, as amended, and in the regulations adopted and
publications promulgated pursuant to each of the foregoing, except that the term
"Hazardous Materials" shall not include any such materials in amounts typically
found in office buildings of a similar age and character as the Buildings,
including asbestos and asbestos containing materials. Landlord shall enforce the
obligations of Overlandlord with respect to asbestos removal in the Premises
pursuant to Section 28.10 of the Overlease.

          SECTION 5.07. TENANT ADVERTISING. Tenant shall not use, and shall
cause each of its Affiliates not to use, the name or likeness of the Building or
the Project in any advertising (by whatever medium) without Landlord's consent,
but shall be permitted to use the address of the Building for such purposes.

          SECTION 5.08 RIGHT TO PERFORM TENANT COVENANTS. If Tenant fails to
perform any of its obligations under this Lease, Landlord, any Superior Lessor
or any Superior Mortgagee (each, a "CURING PARTY") may perform the same at the
expense of Tenant (a) immediately and without notice in the case of emergency or
in case such failure unreasonably interferes with the use of space by any other
tenant in the Building or adversely affects the efficient operation of the
Building or may result in a violation of any Law or in a cancellation of any
insurance policy maintained by Landlord and (b) in any other case if such
failure continues beyond any applicable grace period. If a Curing Party performs
any of Tenant's obligations under this Lease, Tenant shall pay to Landlord (as
Additional Charges) the costs thereof, together with interest at the Interest
Rate from the date incurred by the Curing Party until paid by Tenant, within
twenty (20) days after receipt by Tenant of a statement as to the amounts of
such costs. If the Curing Party effects such cure by bonding any lien which
Tenant is required to bond or otherwise discharge, Tenant shall obtain and
substitute a bond for the Curing Party's bond and shall reimburse the Curing
Party for the cost of the Curing Party's bond. "INTEREST RATE" means the lesser
of (i) the Base Rate plus 2% per annum or (ii) the maximum rate permitted by
law.

                                       33
<Page>
                                    ARTICLE 6

                            ASSIGNMENT AND SUBLETTING

          SECTION 6.01. ASSIGNMENT; ETC. (a) Subject to SECTION 6.02, and except
as otherwise provided in this Article, neither this Lease nor the term and
estate hereby granted, nor any part hereof or thereof, shall be assigned,
mortgaged, pledged, encumbered or otherwise transferred voluntarily,
involuntarily, by operation of law or otherwise, and neither the Premises, nor
any part thereof, shall be subleased, be licensed, be used or occupied by any
person or entity other than Tenant or be encumbered in any manner by reason of
any act or omission on the part of Tenant, and no rents or other sums receivable
by Tenant under any sublease of all or any part of the Premises shall be
assigned or otherwise encumbered, without the prior consent of Landlord. The
dissolution or direct or indirect transfer of control of Tenant (however
accomplished including, by way of example, the admission of new partners or
members or withdrawal of existing partners or members, or transfers of interests
in distributions of profits or losses of Tenant, issuance of additional stock,
redemption of stock, stock voting agreement, or change in classes of stock)
shall be deemed an assignment of this Lease regardless of whether the transfer
is made by one or more transactions occurring over a twenty-four (24) month
period (provided that if any such transactions made subsequent to such
twenty-four (24) month period are made pursuant to a plan designed to effect
such transfer over an extended period of time, the same shall be deemed to have
been made during the twenty-four (24) month period), or whether one or more
persons or entities hold the controlling interest prior to the transfer or
afterwards. An agreement under which another person or entity becomes
responsible for all or a portion of Tenant's obligations under this Lease shall
be deemed an assignment of this Lease or a sublease, as the case may be. Except
as provided in SECTION 6.02(d) herein, no assignment or other transfer of this
Lease and the term and estate hereby granted, and no subletting of all or any
portion of the Premises shall relieve Tenant of its liability under this Lease
or of the obligation to obtain Landlord's prior consent to any further
assignment, other transfer or subletting. Any attempt to assign this Lease or
sublet all or any portion of the Premises in violation of this ARTICLE 6 shall
be null and void. If Tenant shall become a publicly held entity, the sale or
transfer of shares of Tenant shall not require the consent of Landlord, shall be
permitted under this Lease and shall not be deemed a transfer or an assignment
hereunder if such transfer or sale is effected through the "over-the-counter
market" or through any recognized stock exchange.

          (b) Notwithstanding SECTION 6.01(a), without the consent of Landlord
and without Tenant being subject to the requirements of the Overlease and
SECTIONS 6.02, 6.03 or 6.05 of this Lease, this Lease may be assigned to (x) if
Tenant named herein is the assignor, (i) an entity with which Tenant is merged,
(ii) an entity which succeeds to Tenant, or (iii) a newly created entity,
provided that any of the foregoing have been formed or created by the State of
New York and/or New Jersey for the purposes of performing functions similar to,
or ancillary with, those performed by Tenant and such entity intends to continue
to perform one or more of the operations which the Tenant is permitted to
perform or (y) if this Lease shall have been assigned to a "private" entity (i)
to an entity created by merger, reorganization or recapitalization of or with
Tenant or (ii) a purchaser of all or substantially all of Tenant's assets, stock
or interests

                                       34
<Page>

(such entity or purchaser being referred to herein as a "SUCCESSOR ENTITY");
PROVIDED that (A) Landlord shall have received a notice of such assignment from
Tenant, (B) the assignee assumes by written instrument satisfactory to Landlord
all of Tenant's obligations under this Lease, (C) such assignment is for a valid
business purpose and not to avoid any obligations under this Lease, and (D) the
assignee is a reputable entity of good character and shall have, immediately
after giving effect to such assignment, an aggregate net worth reasonably
acceptable to Landlord.

          (c) Notwithstanding SECTION 6.01 (a), without the consent of Landlord
and without, Tenant being subject to the requirements of SECTION 6.02, 6.03 or
6.05 of this Lease, Tenant may, subject to the requirements of the Overlease,
assign this Lease or sublet all or any part of the Premises (x) if Tenant named
herein is the assignor or sublessor, to a corporation which is wholly owned by
the Tenant and which has been or may be created pursuant to the laws of the
State of New York or New Jersey to perform one or more operations which the
Tenant is permitted to perform pursuant to such laws or (y) if this Lease shall
have been assigned to a "private" entity, to an Affiliate of Tenant; PROVIDED,
that (x) Landlord shall have received a notice of such assignment or sublease
from Tenant; and (y) in the case of any such assignment, (A) the assignment is
for a valid business purpose and not to avoid any obligations under this Lease,
and (B) the assignee assumes by written instrument satisfactory to Landlord all
of Tenant's obligations under this Lease. "AFFILIATE" means, as to any
designated person or entity, any other person or entity which controls or is
controlled by, such designated person or entity. "CONTROL" (and with correlative
meaning, "controlled by" and "under common control with") means ownership and
control by Tenant, directly or indirectly, of 51% or more of the stock,
partnership interests or other beneficial ownership interests of the entity in
question and the power to direct the management and affairs of such entity.

          SECTION 6.02. LANDLORD'S OPTION RIGHT. (a) If Tenant desires to assign
this Lease or sublet all or a portion of the Premises (other than in accordance
with SECTIONS 6.01 (b) OR 6.01 (c)), Tenant shall give to Landlord notice
("TENANT'S OFFICER NOTICE") thereof, specifying (i) in the case of a proposed
subletting, the location of the space to be sublet and the proposed terms of the
subletting of such space, (ii) (A) in the case of a proposed assignment,
Tenant's good faith offer of the consideration Tenant desires to receive or pay
for such assignment or (B) in the case of a proposed subletting, Tenant's good
faith offer of the fixed annual rent which Tenant desires to receive for such
proposed subletting (assuming that a subtenant will pay for Taxes, expense
escalations and electricity as described in ARTICLE 3 herein in the same manner,
and utilizing the same base year or base amount, as Tenant pays for such amounts
under this Lease) and (iii) the proposed assignment or sublease commencement
date.

          (b) Tenant's Offer Notice shall be deemed an offer from Tenant to
Landlord whereby Landlord (or Landlord's designee) may, at Landlord's option,
(i) sublease such space from Tenant or (ii) have this Lease assigned to it or
terminate this Lease, provided that if the proposed transactions is (x) an
assignment or (y) a sublease of all or substantially all of the Premises for all
or substantially all of the remainder of the Term or (z) a sublease of a portion
of the Premises which, when aggregated with other subleases then in effect,
covers all or substantially all of the Premises for all or substantially all of
the remainder of the Term, Landlord's option shall be limited to having this
Lease assigned to it or to terminating this Lease (any such space being referred
to as the "RECAPTURE SPACE"). Said option may be exercised by

                                       35
<Page>

Landlord by notice to Tenant within 60 days after a Tenant's Offer Notice,
together with all information required pursuant to SECTION 6.02(a), has been
given by Tenant to Landlord.

          (c) If Landlord exercises its option under SECTION 6.02(b)(ii) to
terminate this Lease, then this Lease shall terminate on the proposed assignment
or sublease commencement date specified in the applicable Tenant's Offer Notice,
all Rent shall be paid and appointed to such date and the date of such
termination shall be deemed the Expiration Date for all purposes of this Lease.

          (d) If Landlord exercises its option under SECTION 6.02(b)(ii) to have
this Lease assigned to it (or its designee), then Tenant shall assign this Lease
to Landlord (or Landlord's designee) by an assignment in form and substance
reasonably satisfactory to Landlord, effective on the proposed assignment or
sublease commencement date specified in the applicable Tenant's Offer Notice. If
Landlord exercises its option to take an assignment of this Lease as it relates
to the Recapture Space, Tenant shall be released from Tenant's obligations under
this Lease arising from and after the date of such assignment. Tenant shall not
be entitled to consideration or payment from Landlord (or Landlord's designee)
in connection with any such assignment. If the Tenant's Offer Notice provides
that Tenant will pay any consideration or grant any concessions in connection
with the proposed assignment, then Tenant shall pay such consideration and/or
grant any such concessions to Landlord (or Landlord's designee) on the date
Tenant assigns this Lease to Landlord (or Landlord's designee).

          (e) [INTENTIONALLY OMITTED]

          (f) If Landlord exercises its option under SECTION 6.02(b)(i) to
sublet the Premises, such sublease to Landlord or its designee (as subtenant)
shall be in form and substance reasonably satisfactory to Landlord at the lower
of (i) the rental rate per rentable square foot of Fixed Rent and Additional
Charges then payable pursuant to this Lease or (ii) the rental set forth in the
applicable Tenant's Offer Notice with respect to such sublet space, and shall be
for the term set forth in the applicable Tenant's Offer Notice, and:

               (A) shall be subject to all of the terms and conditions of this
Lease except such as are irrelevant or inapplicable, and except as otherwise
expressly set forth to the contrary in this SECTION 6.02(f).

               (B) shall be upon the same terms and conditions as those
contained in the applicable Tenant's Offer Notice and otherwise on the terms and
conditions of this Lease, except such as are irrelevant or inapplicable, and
except as otherwise expressly set forth to the contrary in this SECTION 6.02(f).

               (C) shall permit the sublease, without Tenant's consent, freely
to assign such sublease or any interest therein or to sublet all or any part of
the space covered by such sublease and to make any and all alterations and
improvements in the space covered by such sublease, provided that Tenant shall
not be responsible for removing such alterations or improvements at the
expiration of the Term, unless the Offer Notice reasonably restricts the making
of any such alterations or improvements in which event Landlord or its designee
(as

                                       36
<Page>

subtenant) shall also be reasonably restricted in the making of any such
alterations or improvements;

               (D) shall provide that any assignee or further subtenant of
Landlord or its designee may, at the election of Landlord, make alterations,
decorations and installations in such space or any part thereof, any or all of
which may be removed, in whole or in part, by such assignee or subtenant, at its
option, prior to or upon the expiration or other termination of such sublease,
provided that such assignee or subtenant, at its expense, shall repair any
damage caused by such removal, unless the Offer Notice reasonably restricts the
making of any such alterations or improvements in which event Landlord shall
impose the same restrictions on any assignee or further subtenant of Landlord or
its designee; and

               (E) shall provide that (1) the parties to such sublease expressly
negate any intention that any estate created under such sublease be merged with
any other estate held by either of said parties, (2) any assignment or
subletting by Landlord or its designee (as the subtenant) may be for any purpose
or purposes that Landlord shall deem appropriate, (3) Landlord, at Tenant's
expense, may make such alterations as may be required or deemed necessary by
Landlord to demise separately the subleased space and to comply with any Laws
relating to such demise, unless the Offer Notice reasonably restricts the making
of any alterations or improvements in which event Landlord shall only make
alterations or improvements to demise separately such subleased space if
Landlord shall restore, or shall cause to be restored, the subleased space to
the same condition in which such subleased space was delivered from Tenant to
Landlord, and (4) at the expiration of the term of such sublease, Tenant shall
accept the space covered by such sublease in its then existing condition,
subject to the obligations of the sublessee to make such repairs thereto as may
be necessary to preserve such space in good order and condition.

          (g) In the case of any proposed sublease requiring Landlord's consent
under this Article 6, Tenant shall not sublet any space to a third party at a
rental which is less (on a per rentable square foot basis) that 95% of the
rental (on a per rentable square foot basis) specified in Tenant's Offer Notice
with respect to such space, without complying once again with all of the
provisions of this SECTION 6.02 and re-offering such space to Landlord at such
lower rental. In the case of a proposed assignment, Tenant shall not assign this
Lease to a third party where Tenant pays consideration greater than 5% more or
grants a greater concession to such third party for such assignment than the
consideration offered to be paid or concession offered to be granted to Landlord
in Tenant's Offer Notice without complying once again with all of the provisions
of this SECTION 6.02 and re-offering to assign this Lease to Landlord and paying
such consideration or grant such concession to Landlord.

          (h) If Landlord fails to respond to Tenant's Offer Notice within 60
days after the receipt of such Tenant's Offer Notice, together with all
information required pursuant to SECTION 6.02(a), has been given by Tenant to
Landlord, Landlord shall be deemed to have declined Tenant's offer, PROVIDED,
that 15 days prior to the expiration of such 60-day period, Tenant shall send a
second notice to Landlord with the phrase "FAILURE TO RESPOND ON OR BEFORE THE
15TH DAY AFTER THE GIVING OF THIS NOTICE SHALL BE DEEMED TO BE A WAIVER OF
LANDLORD'S OPTION RIGHT UNDER SECTION 5.02 OF THE LEASE" in bold lettering at
the top of such notice.

                                       37
<Page>

          SECTION 6.03. ASSIGNMENT AND SUBLETTING PROCEDURES. (a) If Tenant
delivers to Landlord a Tenant's Offer Notice with respect to any proposed
assignment of this Lease or subletting of all of the Premises and Landlord does
not timely exercise any of its options under SECTION 6.02, and Tenant thereafter
desires to assign this Lease or sublet the Premises as specified in Tenant's
Offer Notice, Tenant shall notify Landlord (a "TRANSFER NOTICE") of such desire,
which notice shall be accompanied by (i) a statement of the material terms and
conditions of the proposed subletting or assignment, as the case may be, the
effective date of which shall be at least 30 days after the giving of the
Transfer Notice, (ii) a statement setting forth in reasonable detail the
identity of the proposed use of the Premises, (iii) current financial
information with respect to the proposed assignee or subtenant, including,
without limitation, its most recent financial statement or other evidence of
proposed entity's creditworthiness and (iv) such other information as Landlord
may reasonably request (provided such request is made within fifteen (15) days
of Landlord's receipt of the Transfer Notice), and Landlord's consent to the
proposed assignment or sublease shall not be unreasonably withheld, provided
that:

               (A) Such Transfer Notice shall be delivered to Landlord within
three months after the delivery to Landlord of the applicable Tenant's Offer
Notice.

               (B) In Landlord's reasonable judgment the proposed assignee or
subtenant will use the Premises in a manner that (x) is in keeping with the
Standard and (y) is limited to the use expressly permitted under the Lease.

               (C) The proposed assignee or subtenant is, in Landlord's
judgment, a reputable person or entity of good character and, in Landlord's
reasonable judgment, has sufficient financial worth considering the
responsibility involved.

               (D) Neither the proposed assignee or sublessee, nor any Affiliate
of such assignee or sublessee, is then an occupant of any part of the Building.

               (E) The proposed assignee or sublessee is not a person with whom
Landlord is then negotiating or has within the prior 3 months negotiated to
lease space in the Building.

               (F) The form of the proposed sublease shall be reasonably
satisfactory to Landlord and shall comply with the applicable provisions of this
ARTICLE 6.

               (G) There shall be no more than 4 subtenants (excluding
Affiliates) in the Premises at any one time and no subtenant shall sublet less
than 25,000 rentable square feet.

               (H) Tenant shall reimburse Landlord within twenty (20) days of
demand for any reasonable out-of-pocket costs that may be incurred by Landlord
in connection with said assignment or sublease, including, without limitation,
the costs of making investigations as to the acceptability of the proposed
assignee or subtenant, and reasonable legal costs incurred in connection with
the granting of any requested consent.

               (I) With respect to any subletting or assignment entered into
prior to the second anniversary of the Commencement Date, the proposed sublessee
or assignee does not

                                       38
<Page>

conduct or operate any business which is in direct competition with the
principal lines of business of Landlord.

               (J) The subletting or assignment complies with all of the terms
and provisions of the Overlease.

          (b) If Landlord's consent to a proposed assignment or sublease is
required under this Article 6 and Landlord so consents (or is deemed to have
consented) and Tenant thereafter fails to execute and deliver the assignment or
sublease to which Landlord consented within 45 days (or if such request is made
pursuant to subsection (d) below, within 60 days) after the giving of such
consent, then Tenant shall again comply with this ARTICLE 6 before assigning
this Lease or subletting all or part of the Premises.

          (c) If Landlord fails to respond to a Transfer Notice within 30 days
(or if such request is made pursuant to subsection (d) below, within 60 days)
after such Transfer Notice, together with all information required pursuant to
SECTION 6.03(a) has been given by Tenant to Landlord, Landlord shall be deemed
to have consented to such proposed assignment or subletting; PROVIDED, that 15
days prior to the expiration of such 30 day period (or if such request is made
pursuant to subsection (d) below, within 60 days), Tenant shall send a second
notice to Landlord with the phrase "FAILURE TO RESPOND WITHIN TEN (10) DAYS
AFTER THE DATE HEREOF SHALL BE DEEMED CONSENT TO THE ASSIGNMENT OR SUBLETTING
PROPOSED IN TENANT'S TRANSFER NOTICE" in bold lettering at the top of such
notice.

          (d) If Tenant delivers to Landlord a Transfer Notice, together with
all information required under SECTION 6.03(a) above, at the same time that
Tenant delivers Tenant's Offer Notice, together with all information required
under SECTION 6.02(a) above, then Landlord shall either (i) exercise its options
under SECTION 6.02 or (ii) approve or deny Tenant's request to assign this Lease
or sublet the Premises under the provisions of SECTION 6.03 within 60 days after
Tenant's Offer Notice, together with all information required pursuant to
SECTION 6.02 (a), and the Transfer Notice, together with all information
required pursuant to SECTION 6.03(a), have been given by Tenant to Landlord. If
Landlord fails to respond within 60 days after receiving Tenant's Offer Notice,
together with all information required pursuant to SECTION 6.02(a) and the
Transfer Notice, together with all information required pursuant to SECTION
6.03(b), Landlord shall be deemed to have consented to such proposed assignment
or subletting; PROVIDED, that 15 days prior to the expiration of such 60-day
period, Tenant shall send a second notice to Landlord with the phrase "FAILURE
TO RESPOND SHALL BE DEEMED TO BE A WAIVER OF LANDLORD'S OPTION RIGHT UNDER
SECTION 5.02 OF THE LEASE AND CONSENT TO THE ASSIGNMENT OR SUBLETTING PROPOSED
IN TENANT'S TRANSFER NOTICE (SUCH TENANT'S OFFER NOTICE AND TRANSFER NOTICE
HAVING BEEN DELIVERED SIMULTANEOUSLY)" in bold lettering at the top of such
notice.

          SECTION 6.04. GENERAL PROVISIONS. (a) If this Lease is assigned,
whether or not in violation of this Lease, Landlord may collect rent from the
assignee. If the Premises or any part thereof are sublet or occupied by anybody
other than Tenant, whether or not in violation of this Lease, Landlord may,
after default by Tenant, and expiration of Tenant's time to cure such

                                       39
<Page>

default, collect rent from the subtenant or occupant. In either event, Landlord
may apply the net amount collected against Rent, but no such assignment,
subletting, occupancy or collection shall be deemed a waiver of any of the
provisions of SECTION 6.01(a), or the acceptance of the assignee, subtenant or
occupant as tenant, or a release of Tenant from the performance of Tenant's
obligations under this Lease.

          (b) No assignment or transfer shall be effective until the assignee
delivers to Landlord (i) evidence that the assignee, as Tenant hereunder, has
complied with the requirements of SECTIONS 8.02 and 8.03, and (ii) an agreement
in form and substance reasonably satisfactory to Landlord whereby the assignee
assumes Tenant's obligations under this Lease.

          (c) Notwithstanding any assignment or transfer, whether or not in
violation of this Lease, and notwithstanding the acceptance of any Rent by
Landlord from as assignee, transferee, or any other party, other than with
respect to any assignment or sublease to Landlord or its designee pursuant to
Section 6.02, the original named Tenant and each successor Tenant shall remain
fully liable for the payment of the Rent and the performance of all the Tenant's
other obligations under this Lease. The joint and several liability of Tenant
and any immediate or remote successor in interest of Tenant shall not be
discharged, released or impaired in any respect by any agreement made by
Landlord extending the time to perform, or otherwise modifying, any of the
obligations of Tenant under this Lease, or by any waiver or failure of Landlord
to enforce any of the obligations of Tenant under this Lease.

          (d) Each subletting by Tenant shall be subject to the following:

               (i) No subletting shall be for a term (including any renewal or
extension options contained in the sublease) ending later than one day prior to
the Expiration Date.

               (ii) No sublease shall be valid, and no subtenant shall take
possession of the Premises or any part thereof, until there has been delivered
to Landlord, both (A) an executed counterpart of such sublease, and (B) a
certificate of insurance evidencing that (x) Landlord and Overlandlord are
additional insureds under the insurance policies required to be maintained by
occupants of the Premises pursuant to SECTION 8.02, and (y) there is in full
force and effect, the insurance otherwise required by SECTION 8.02.

               (iii) Each sublease shall provide that it is subject and
subordinate to this Lease, and that in the event of termination, reentry or
dispossess by Landlord under this Lease, Landlord may, at its option, take over
all of the right, title and interest of Tenant, as sublessor, under such
sublease, and such subtenant shall, at Landlord's option, attorn to Landlord
pursuant to the then executory provisions of such sublease, except that Landlord
shall not be liable for, subject to or bound by any item of the type that a
Successor Landlord is not so liable for, subject to or bound by in the case of
an attornment by Tenant to a Successor Landlord under SECTION 7.01(a).

          (e) Each sublease shall provide that the subtenant may not assign its
rights thereunder or further sublet the space demised under the sublease, in
whole or in part, without Landlord's consent, which shall not be unreasonably
withheld and shall be granted or denied in

                                       40
<Page>

accordance with the standards applicable to an assignment or subletting by
Tenant which requires Landlord's consent provided that any sublease requiring
Landlord's consent hereunder may only be further sublet one time without
complying with all of the terms and conditions of this ARTICLE 6, including,
without limitation, SECTION 6.02 and SECTION 6.05, which for purposes of this
SECTION 6.04(e) shall be deemed to be appropriately modified to take into
account that the transaction in question is an assignment of the sublease or a
further subletting of the space demised under the sublease, as the case may be.

          (f) Tenant shall not publicly advertise the availability of the
Premises or any portion thereof as sublet space or by way of an assignment of
this Lease, without first obtaining Landlord's consent, which consent shall not
be unreasonably withheld or delayed provided that Tenant shall in no event
advertise the rental rate or any description thereof.

          SECTION 6.05. ASSIGNMENT AND SUBLEASE PROFITS. (a) If the aggregate of
the amounts payable as Fixed Rent and as Additional Charges on account of Taxes
and electricity by a subtenant under a sublease of the Premises and the amount
of any Other Sublease Consideration payable to Tenant by such subtenant, whether
received in a lump-sum payment or otherwise, shall be in excess of Tenant's
Basic Cost therefor at that time then, promptly after the collection thereof,
Tenant shall pay to Landlord in monthly installments as and when collected, as
Additional Charges, 50% of such excess. Tenant shall deliver to Landlord within
60 days after the end of each calendar year and within 60 days after the
expiration or earlier termination of this Lease a statement specifying each
sublease in effect during such calendar year or partial calendar year, the
rentable area demised thereby, the term thereof and a computation in reasonable
detail showing the calculation of the amounts paid and payable by the subtenant
to Tenant, and by Tenant to Landlord, with respect to such sublease for the
period covered by such statement. "TENANT'S BASIC COST" for sublet space at any
time means the sum of (i) the portion of the Fixed Rent and Tax Payments which
is attributable to the sublet space, plus (ii) the amount payable by Tenant on
account of electricity in respect of the sublet space, plus (iii) the amount of
any costs reasonably incurred by Tenant in making changes in the layout and
finish of the sublet space for the subtenant amortized on a straight-line basis
over the term of the sublease plus (iv) the amount of any reasonable brokerage
commissions and reasonable legal fees (including those of Tenant's in-house
counsel) paid by Tenant in connection with the sublease amortized on a
straight-line basis over the term of the sublease. "OTHER SUBLEASE
CONSIDERATION" means all sums paid for the furnishing of services by Tenant and
the sale or rental of Tenant's fixtures, leasehold improvements, equipment,
furniture or other personal property less, in the case of the sale thereof, the
then net unamortized or undepreciated cost thereof determined on the basis of
Tenant's federal income tax returns.

          (b) Upon any assignment of this Lease, Tenant shall pay to Landlord
50% of the Assignment Consideration received by Tenant for such assignment,
after deducting therefrom customary and reasonable closing expenses which shall
include commissions and legal fees (including those of Tenant's in-house
counsel). "ASSIGNMENT CONSIDERATION" means an amount equal to all sums and other
considerations paid to Tenant by the assignee for or by reason of such
assignment (including, without limitation, sums paid for the furnishing of
services by Tenant and the sale or rental of Tenant's fixtures, leasehold
improvements, equipment, furniture, furnishings or other personal property,
less, in the case of a sale thereof, the then net unamortized or undepreciated
cost thereof determined on the basis of Tenant's federal income tax returns).

                                       41
<Page>

          SECTION 6.06. ASSIGNOR CURE RIGHTS.

          If this Lease shall have been assigned by Tenant (other than to an
Affiliate of Tenant), Landlord shall give the initially named Tenant (the
"TENANT ASSIGNOR"), a copy of each notice of default given by Landlord to the
then current tenant (the "TENANT ASSIGNEE") under this Lease. Landlord shall not
have any right to terminate this Lease, or otherwise to exercise any of
Landlord's rights and remedies hereunder, after a default by such Tenant
Assignee, unless and until (A) Landlord shall have made a demand on the Tenant
Assignee to cure the default in question, (B) the Tenant Assignor receives a
copy of the default notice in question, and (C) the Tenant Assignor has an
opportunity to remedy such default within the time periods set forth in this
Lease (such time periods, with respect to the Tenant Assignor, being deemed to
run from the date that Landlord gives such Tenant Assignor a copy of the default
notice in question); provided, that this sentence shall not be applicable if the
Tenant Assignee under this Lease in an Affiliate of the Tenant Assignor.
Landlord shall accept timely performance by the Tenant Assignor of any term,
covenant, provision or agreement contained in this Lease on the Tenant
Assignee's part to be observed and performed with the same force and effect as
if performed by the Tenant Assignee (but only if such Tenant Assignee is not an
Affiliate of the Tenant Assignor). If the Tenant Assignor shall cure the default
by such Tenant Assignee, or if the default shall be incurable (such as
bankruptcy), and Landlord or the Tenant Assignee, seeks to terminate this Lease,
then the Tenant Assignor shall have the right to enter into a new lease with
Landlord upon all of the then executory terms of this Lease and to resume actual
possession of the Premises for the unexpired balance of the Term; provided, that
this sentence shall not be applicable if the Tenant Assignee under this Lease is
an Affiliate of the Tenant Assignor.

          SECTION 6.07. LANDLORD NON-DISTURBANCE If Tenant shall so request at
the same time it requests Landlord's approval of a sublease, Landlord agrees
that it shall enter into a non-disturbance, attornment agreement with permitted
sublessees of one full floor or more of the Premises provided that (x) such
floor or floors shall be the uppermost or the bottommost floor and/or any floor
contiguous thereto, (y) such sublease shall be for the balance of the term of
this Lease and (z) if the rent such subtenant is paying at the time of
attornment is less than that required pursuant of the terms of this Lease, such
subtenant shall agree to pay Fixed Rent and Additional Charges in accordance
with the terms of this Lease and provided, further, that in determining whether
or not Landlord shall consent to such a sublease, it shall be reasonable for
Landlord to take into account that under certain circumstances Landlord may have
to have such subtenant as its direct tenant.

                                    ARTICLE 7

                        SUBORDINATION; DEFAULT; INDEMNITY

          SECTION 7.01. SUBORDINATION. (a) Subject to the provisions of this
ARTICLE 7, this Lease is subject and subordinate to each mortgage (a
"SUPERIOR MORTGAGE") and each underlying lease including, without limitation,
the Overlease (a "SUPERIOR LEASE") which may now or hereafter affect all or
any portion of the Project or any interest therein; provided that the
Superior Mortgagee under such Superior Mortgage or Superior Lessor under such
Superior Lease shall

                                       42
<Page>

have executed and delivered a non-disturbance and attornment agreement
substantially to the effect that so long as Tenant is not in default hereunder
beyond any applicable notice and grace periods, (i) this Lease will not be
terminated or cut off not shall Tenant's possession hereunder be disturbed by
enforcement of any rights given to such Superior Mortgagee or Superior Lessor
pursuant to such Superior Mortgage or Superior Lease, and (ii) such Superior
Mortgagee or Superior Lessor shall recognize Tenant as the tenant under this
Lease. The lessor under a Superior Lease is called a "SUPERIOR LESSOR" and the
mortgagee under a Superior Mortgage is called a "SUPERIOR MORTGAGEE". Tenant
shall execute, acknowledge and deliver any instrument reasonably requested by
Landlord, a Superior Lessor or Superior Mortgagee to evidence such
subordination, but no such instrument shall be necessary to make such
subordination effective if a non-disturbance and attornment agreement shall have
been delivered. Notwithstanding anything contained in this SECTION 7.01 to the
contrary, if any Superior Mortgagee or Superior Lessee executes and delivers a
non-disturbance and attornment agreement either (i) in the form attached hereto
as EXHIBIT F or (ii) in a form which is not in any material respect less
favorable to Tenant as the non-disturbance and attornment agreement executed and
delivered contemporaneously herewith by Tenant and the existing Superior
Mortgagee or Superior Lessor, as applicable, and Tenant either fails or refuses
to execute and deliver such agreement within 30 days after delivery of such
agreement to Tenant, then this Lease shall automatically and without further act
be deemed to be subject and subordinate to such Superior Mortgage or Superior
Lease and such non-disturbance and attornment agreement shall then be deemed to
be in effect with respect to such Superior Mortgage or Superior Lease. Tenant
acknowledges and agrees that simultaneously herewith Tenant and the existing
Superior Mortgagee and the existing Superior Lessor have executed and exchanged
non-disturbance and attornment agreements which satisfy the requirements of this
SECTION 7.01. Tenant shall execute any amendment of this Lease requested by a
Superior Mortgagee or a Superior Lessor; PROVIDED such amendment shall not (i)
result in a material increase in Tenant's obligations under this Lease or a
material reduction in the benefits available to Tenant or (ii) diminish the
rights, privileges, interest or estate or Tenant or alter the Term, the Premises
or the services to be provided to Tenant by Landlord hereunder (except, in
either case, to a DE MINIMIS extent). In the event of the enforcement by a
Superior Mortgagee of the remedies provided for by law or by such Superior
Mortgage, or in the event of the termination or expiration of a Superior Lease,
Tenant, upon request of such Superior Mortgagee, Superior Lessor or any person
succeeding to the interest of such mortgagee or lessor (each, a "SUCCESSOR
LANDLORD"), shall, subject to the terms of this ARTICLE 7 and the delivery of a
subordination, non-disturbance and attornment agreement in accordance with this
Section automatically become the tenant of such Successor Landlord without
change in the terms or provisions of this Lease (it being understood that Tenant
shall, if requested, enter into a new lease on terms identical to those in this
Lease); provided, that any Successor Landlord shall not be (i) liable for any
act, omission or default of any prior landlord (including, without limitation,
Landlord); (ii) liable for the return of any monies paid to or on deposit with
any prior landlord (including, without limitation, Landlord), except to the
extent such monies or deposits are delivered to such Successor Landlord; (iii)
subject to any offset, claims or defense that Tenant might have against any
prior landlord (including, without limitation, Landlord); (iv) bound by any Rent
which Tenant might have paid for more than thirty (30) days in advance of the
date upon which such payment was due to any prior landlord (including, without
limitation, Landlord) unless actually received by such Successor Landlord or
expressly approved in writing by it or received by it; (v) bound by any covenant
to perform or complete any construction in

                                       43
<Page>

connection with the Project or the Premises or to pay any sums to Tenant in
connection therewith, or (vi) bound by any waiver or forbearance under, or any
amendment, modification, abridgement, cancellation or surrender of this Lease
made without the consent of such Successor Landlord. Nothing contained herein
shall be deemed to relieve any Successor Landlord of any liability arising by
reason of its acts or omissions from or after the date that such Successor
Landlord shall become the landlord under this Lease, and such Successor Landlord
shall be obligated to perform Landlord's obligations under this Lease arising
from and after becoming landlord, in accordance with the provisions of this
Lease. Upon request by such Successor Landlord, Tenant shall, subject to the
terms of this ARTICLE 7 and the delivery of a subordination, non-disturbance and
attornment agreement in accordance with this Section execute and deliver an
instrument or instruments, reasonably requested by such Successor Landlord,
confirming the attornment provided for herein, but no such instrument shall be
necessary to make such attornment effective. It is hereby acknowledged and
agreed that the foregoing provisions are not intended to relieve any Successor
Landlord from its obligations under this Lease from and after the date it
becomes Landlord under this Lease.

          (b) Tenant shall give each Superior Mortgagee and each Superior Lessor
a copy of any notice of default served upon Landlord, provided that Tenant has
been notified of the address of such mortgagee or lessor. If Landlord fails to
cure any default as to which Tenant is obligated to give notice pursuant to the
preceding sentence within the time provided for in this Lease, then each such
mortgagee or lessor shall have an additional 30 days after receipt of such
notice within which to cure such default or if such default cannot be cured
within that time, then such additional time as may be necessary if, within such
30 days, any such mortgagee or lessor has commenced and is diligently pursuing
the remedies necessary to cure such default (including, without limitation,
commencement of foreclosure proceedings or eviction proceedings, if necessary to
effect such cure), in which event this Lease shall not be terminated and Tenant
shall not exercise any other rights or remedies under this Lease or otherwise
seek a termination of this Lease while such remedies are being so diligently
pursued. Nothing herein shall be deemed to imply that Tenant has any right to
terminate this Lease or any other right or remedy, except as may be otherwise
expressly provided for in this Lease.

          SECTION 7.02 ESTOPPEL CERTIFICATE. Each party shall, at any time and
from time to time, but in any event no more than two (2) times in any twelve
month period, within 10 days after request by the other party, execute and
deliver to the requesting party (or to such person or entity as the requesting
party may designate) a statement certifying that this Lease is unmodified and in
full force and effect (or if there have been modifications, that the same is in
full force and effect as modified and stating the modifications), certifying the
Premises Possession Date, Expiration Date and the dates to which the Fixed Rent
and Additional Charges have been paid and stating whether or not, to the best
knowledge of such party, the other party is in default in performance of any of
its obligations under this Lease, and, if so, specifying each such default of
which such party has knowledge, it being intended that any such statement shall
be deemed a representation and warranty to be relied upon by the party to whom
such statement is addressed. Tenant also shall include or confirm in any such
statement such other information concerning this Lease as Landlord may
reasonably request. Any statement delivered pursuant to this SECTION 7.02 shall
reflect the state of facts existing only as of the date it is given by such
party.

                                       44
<Page>

          SECTION 7.03. DEFAULT. (a) This Lease and the term and estate hereby
granted are subject to the limitation that:

               (i) if Tenant defaults in the payment of any Fixed Rent, and such
default continues for 5 days after Landlord gives to Tenant a notice specifying
such default, or if Tenant defaults in the payment of any Additional Charges,
and such default continues for 10 days after Landlord gives to Tenant a notice
specifying such default, or

               (ii) if Tenant defaults in the keeping, observance or performance
of any covenant or agreement (other than a default of the character referred to
in SECTION 7.03(a)(i), (iii), (iv) OR (v)), and if such default continues and is
not cured within 30 days after Landlord gives to Tenant a notice specifying the
same, or, in the case of a default which for causes beyond Tenant's reasonable
control cannot with due diligence be cured within such period of 30 days, if
Tenant shall not immediately upon the receipt of such notice, (x) advise
Landlord of Tenant's intention duly to institute all steps necessary to cure
such default and (y) institute and thereafter diligently prosecute to completion
all steps necessary to cure the same,

               (iii) if this Lease or the estate hereby granted would, by
operation of law or otherwise, devolve upon or pass to any person or entity
other than Tenant, except as expressly permitted by ARTICLE 6, or

               (iv) if Tenant shall abandon the entire Premises, has removed a
substantial portion of its personal property and left the Premises unattended
for a period in excess of sixty (60) days, or

               (v) if there shall be a failure of Tenant to comply with any of
the material terms and provisions of that certain Overlandlord Consent entered
into by and among Landlord, Overlandlord and Tenant in connection with this
Lease beyond applicable notice and cure periods relating thereto, if any.

          SECTION 7.04. RE-ENTRY BY LANDLORD. If this Lease shall terminate as
in SECTION 7.03 provided, Landlord or Landlord's agents and servants may
immediately or at any time thereafter re-enter into or upon the Premises, or any
part thereof, either by summary dispossess proceedings or by any suitable action
or proceeding at law, without being liable to indictment, prosecution or damages
therefor, and may repossess the same, and may remove any persons therefrom, to
the end that Landlord may have, hold and enjoy the Premises. The words
"re-enter" and "re-entering" as used in this Lease are not restricted to their
technical legal meanings. Upon such termination or re-entry, Tenant shall pay to
Landlord any Rent then due and owing (in addition to any damages payable under
SECTION 7.05).

          SECTION 7.05. DAMAGES. (a) If this Lease is terminated under SECTION
7.03 Tenant shall pay to Landlord as damages, at the election of Landlord,
either:

          (b) a sum which, at the time of such termination, represents the value
(discounted to present value using Base Rate) of the excess, if any, of (1) the
aggregate of the Rent which, had this Lease not terminated, would have been
payable hereunder by Tenant for the period commencing on the day following the
date of such termination to and including the Expiration Date over (2) the
aggregate fair rental value of the Premises for the same period (for

                                       45
<Page>

the purposes of this CLAUSE (a) the amount of Additional Charges which would
have been payable by Tenant under SECTIONS 3.04 and 3.05 shall, for each
calendar year ending after such termination, be deemed to be an amount equal to
the amount of such Additional Charges payable by Tenant for the calendar year
immediately preceding the calendar year in which such termination shall occur),
or

          (c) sums equal to the Rent that would have been payable by Tenant
through and including the Expiration Date had this Lease not terminated, payable
upon the due dates therefor specified in this Lease; PROVIDED, that if Landlord
shall relet all or any part of the Premises for all or any part of the period
commencing on the day following the date of such termination or re-entry to and
including the Expiration Date, Landlord shall credit Tenant with the net rents
received by Landlord from such reletting, such net rents to be determined by
first deducting from the gross rents as and when received by Landlord from such
reletting the expenses incurred or paid by Landlord in terminating this Lease
and of re-entering the Premises and of securing possession thereof, as well as
the expenses of reletting, including, without limitation, altering and preparing
the Premises for new tenants, brokers' commissions, legal fees and all other
expenses properly chargeable against the Premises and the rental therefrom in
connection with such reletting, it being understood that any such reletting may
be for period equal to or shorter or longer than said period; PROVIDED, FURTHER,
that (i) in no event shall Tenant be entitled to receive any excess of such net
rents over the sums payable by Tenant to Landlord under this Lease, (ii) in no
event shall Tenant be entitled, in any suit for the collection of damages
pursuant to this SECTION 7.05(b), to a credit in respect of any net rents from a
reletting except to the extent that such net rents are actually received by
Landlord prior to the commencement of such suit, (iii) if the Premises or any
part thereof should be relet in combination with other space, then proper
apportionment on a square foot rentable area basis shall be made of the rent
received from such reletting and of the expenses of reletting and (iv) Landlord
shall have no obligation to so relet the Premises and Tenant hereby waives any
right Tenant may have, at law or in equity, to require Landlord to so relet the
Premises.

          Suit or suits for the recovery of any damages payable hereunder by
Tenant, or any installments thereof, may be brought by Landlord from time to
time at its election, and nothing contained herein shall require Landlord to
postpone suit until the date when the Term would have expired but for such
termination or re-entry.

          SECTION 7.06. OTHER REMEDIES. Nothing contained in this Lease shall be
construed as limiting or precluding the recovery by Landlord against Tenant of
any sums or damages to which, in addition to the damages particularly provided
above, Landlord may lawfully be entitled by reason of any default hereunder on
the part of Tenant. Anything in this Lease to the contrary notwithstanding,
during the continuation of any default by Tenant, Tenant shall not be entitled
to exercise any rights or options, or to receive any funds or proceeds being
held, under or pursuant to this Lease.

          SECTION 7.07. RIGHT TO INJUNCTION. In the event of a breach or
threatened breach by Tenant of any of its obligations under this Lease,
including, but not limited to, holding over after the Expiration Date or the
date of any earlier termination of this Lease, Landlord subject to applicable
law shall also have the right of injunction and, in the case of a threatened
holdover, the right to bring a summary proceeding for possession of the Premises
on the Expiration Date or

                                       46
<Page>

the date of any earlier termination of this Lease. The specified remedies to
which Landlord may resort hereunder are cumulative and are not intended to be
exclusive of any other remedies or means of redress to which Landlord may
lawfully be entitled, and Landlord may invoke any remedy allowed at law or in
equity as if specific remedies were not herein provided for.

          SECTION 7.08. CERTAIN WAIVERS; WAIVER OF TRIAL BY JURY. (a) Tenant
waives and surrenders all right and privilege that Tenant might have under or by
reason of any present or future law to redeem the Premises or to have a
continuance of this Lease after Tenant is dispossessed or ejected therefrom by
Landlord, by process of law or under the terms of this Lease or after any
termination of this Lease. Tenant also waives the provisions of any law relating
to notice and/or delay in levy of execution in case of any eviction or
dispossession for nonpayment of rent, and the provisions of any successor or
other law of like import.

          (b) Landlord and Tenant each waive trial by jury in any action in
connection with this Lease.

          SECTION 7.09. NO WAIVER. Failure by either party to declare any
default immediately upon its occurrence or delay in taking any action in
connection with such default shall not waive such default but such party shall
have the right to declare any such default at any time thereafter. Any amounts
paid by Tenant to Landlord may be applied by Landlord, in Landlord's discretion,
to any items then owing by Tenant to Landlord under this Lease. Receipt by
either party of a partial payment shall not be deemed to be an accord and
satisfaction (notwithstanding any endorsement or statement on any check or any
letter accompanying any check or payment) nor shall such receipt constitute a
waiver by such party of the other party's obligation to make full payment. No
act or thing done by Landlord or its agents shall be deemed an acceptance of a
surrender of the Premises, and no agreement to accept such surrender shall be
valid unless in writing and signed by Landlord and by each Superior Lessor and
Superior Mortgagee whose lease or mortgage provides that any such surrender may
not be accepted without its consent.

          SECTION 7.10. HOLDING OVER. If Tenant holds over without the consent
of Landlord after expiration or termination of this Lease, Tenant shall (a) pay
as holdover rental for each month of the holdover tenancy an amount equal to (w)
125% for the first month of the holdover tenancy, (x) 150% for the second month
of the holdover tenancy, (y) 175% for the third month of the holdover tenancy
and (z) 200% for the fourth month and any additional month(s) of the holdover
tenancy of the greater of (i) the fair market rental value of the Premises for
such month (as reasonably determined by Landlord) or (ii) the Rent which Tenant
was obligated to pay for the month immediately preceding the end of the Term;
and (b) be liable to Landlord for and indemnify Landlord against (i) any payment
or rent concession which Landlord may be required to make to any tenant obtained
by Landlord for all or any part of the Premises (a "NEW TENANT") by reason of
the late delivery of space to the New Tenant not to terminate its lease by
reason of the holding over by Tenant, (ii) the loss of the benefit of the
bargain if any New Tenant shall terminate its lease by reason of the holding
over by Tenant, and (iii) any claim for damages by any New Tenant. No holding
over by Tenant after the Term shall operate to extend the Term. Notwithstanding
the foregoing, the acceptance of any rent paid by Tenant pursuant to this

                                       47
<Page>

SECTION 7.10 shall not preclude Landlord from commencing and prosecuting a
holdover or summary eviction proceeding.

          SECTION 7.11. ATTORNEYS' FEES. If Landlord places the enforcement of
this Lease or any part thereof upon the default of Tenant, or the collection of
any Rent due or to become due hereunder, or recovery of the possession of the
Premises, in the hands of an attorney, or files suit upon the same, or in the
event any bankruptcy, insolvency or other similar proceeding is commenced
involving Tenant (an "ACTION"), Tenant shall, within twenty (20) days of demand,
reimburse Landlord for landlord's attorney's fees and disbursements and court
costs, provided, however, that if a court of competent jurisdiction renders a
final unappealable verdict there was no basis for the Action, Landlord shall not
be entitled to recover such fees and costs.

          SECTION 7.12. NONLIABILITY AND INDEMNIFICATION. (a) Neither Landlord,
any Superior Lessor or any Superior Mortgagee, nor any partner, director,
officer, shareholder, principal, agent, servant or employee of Landlord, any
Superior Lessor or any superior Mortgagee (whether disclosed or undisclosed),
shall be liable to Tenant for (i) any loss, injury or damage to Tenant or to any
other person, or to its or their property, irrespective of the cause of such
injury, damage or loss, nor shall the aforesaid parties be liable for any loss
of or damage to property of Tenant or of others, entrusted to employees of
Landlord; PROVIDED, that, except to the extent of the release of liability and
waiver of subrogation provided in SECTION 8.03 hereof, the foregoing shall not
be deemed to relieve Landlord of any liability to the extent resulting from the
willful misconduct or negligence of Landlord, its agents, servants or employees
in the operation or maintenance of the Premises to the Building. (ii) any loss,
injury or damage described in CLAUSE (i) above caused by other tenants or
persons in, upon or about the Building, or caused by operation in construction
of any private, public or quasi-public work, or (iii) even if negligent,
consequential damages arising out of any loss of use of the Premises or any
equipment, facilities or other Tenant's Property therein.

          (b) Tenant shall indemnify and hold harmless Landlord, all Superior
Lessors and all Superior Mortgagees and each of their respective members,
partners, directors, officers, shareholders, principals, agents and employees
(each, an "INDEMNIFIED PARTY"), from and against any and all claims arising from
or in connection with (i) the conduct or management of the Premises or of any
business therein, or any work or thing done, or any condition created, in or
about the Premises, (ii) any negligence or wrong doing of Tenant or any person
claiming through or under Tenant or any of their respective members, partners,
directors, officers, agents, employees or contractors, (iii) any accident,
injury or damage occurring in, at or upon the Premises, (iv) any default by
Tenant in the performance of Tenant's obligations under this Lease and (v) any
brokerage commission or similar compensation claimed to be due by reason of any
proposed subletting or assignment by Tenant; together with all costs, expenses
and liabilities incurred in connection with each such claim or action or
proceeding brought thereon, including without limitation, all reasonable
attorneys' fees and disbursements; PROVIDED ,that the foregoing indemnity shall
not apply to the extent such claim results from the negligence (other than
negligence to which the release of liability and waiver of subrogation provided
in SECTION 8.03 below applies) willful misconduct of the Indemnified Party. If
any action or proceeding is through against any Indemnified Party by reason of
any such claim, Tenant, upon notice from such Indemnified Party shall resist and
defend such action or proceeding (by counsel, including Tenant's in-house
counsel, reasonably satisfactory to such Indemnified Party)

                                       48
<Page>

               (c) In the event of any claim, action or proceeding which may
give rise to liability under the indemnity contained in this SECTION 7.12 or
other provision of this Lease. (a) the indemnified party shall give the
indemnifying party prompt notice of such claim or action, (b) the indemnifying
party may defend against such claim or action with counsel selected by it,
subject to the reasonable approval of indemnified party, which approval shall
not be unreasonably withheld or delayed, (c) the indemnified party shall
reasonably cooperate with the indemnifying party and its counsel in the defense
of such claim or action and, (d) the indemnified party shall not settle such
claim or action without indemnifying party's prior written consent, which
consent shall not be unreasonably withheld or delayed.

          SECTION 7.13. PROTEST OF LANDLORD CHARGES. Except as otherwise set
forth, Tenant shall have ninety (90) days from receipt (i) of a bill or other
request from Landlord for payment of any charge, other than the Fixed Rent,
payable by Tenant under this Lease or (ii) a refund or credit under the terms of
this Lease within which to protest the correctness of such charge or credit,
provided however, if, in connection with a disputed payment, Tenant shall pay
such disputed amount to Landlord under Protest prior to the expiration of such
90 day period, such 90 day period shall be extended to 120 days. If Tenant fails
to make such protest, which shall be made in the manner herein set forth for the
giving of notices, within the ninety (90) day or one hundred twenty (120) day
period, as applicable, the charge set forth in such bill or other request or the
applicable refund or credit shall be deemed to have been accepted by Tenant and
shall no longer be contestable by Tenant, time being of the essence.

                                    ARTICLE 8

                        INSURANCE; CASUALTY; CONDEMNATION

          SECTION 8.01. COMPLIANCE WITH INSURANCE STANDARDS. (a) Tenant shall
not violate, or permit the violation of, any condition imposed by any insurance
policy then issued in respect of the Project and shall not do, or permit
anything to be done, or keep or permit anything to be kept in the Premises,
which would subject Landlord, any Superior Lessor or any Superior Mortgagee to
any liability or responsibility for personal injury or death or property damage,
or which would increase any insurance rate in respect of the Project over the
rate which would otherwise then be in effect or which would result in insurance
companies of good standing refusing to insure the Project in amounts reasonably
satisfactory to Landlord, or which would result in the cancellation of, or the
assertion of any defense by the insurer in whole or in part to claims under, any
policy or insurance in respect of the Project. Landlord hereby agrees that the
users permitted under SECTION 2.05 do not violate its insurance policies.

          (b) if, by reason of any failure of Tenant to comply with this Lease,
the premiums on Landlord's insurance on the Project shall be higher than they
otherwise would be, Tenant shall reimburse Landlord, within twenty (20) days of
demand, for that part of such premiums attributable to such failure on the part
of Tenant. A schedule or "make up" of rates for the Project or the Premises, as
the case may be, issued by the New York Fire Insurance Rating Organization or
other similar body making rates for insurance for the Project or the Premises as
the case may be, shall be conclusive evidence of the facts therein stated and of
the several items

                                       49
<Page>

and charges in the insurance rate then applicable to the project or the
Premises, as the case may be.

          SECTION 8.02. TENANT'S INSURANCE. (a) Tenant shall maintain at all
times during the Term (i) "all risk" property, insurance covering all present
and future Tenant's Property, Fixtures and Tenant's Improvements and Betterments
to a limit of not less than the full replacement cost thereof, and (ii)
commercial general liability insurance, including a contractual liability
endorsement, and personal injury liability coverage, in respect of the Premises
and the conduct or operation of business therein, with Landlord and each
Superior Lessor and Superior Mortgagee whose name and address shall have been
furnished to Tenant, as additional insureds, with limits of not less than
$10,000,000 combined single limit for bodily injury and property damage
liability in any one occurrence and (iii) boiler and machinery insurance, if
there is a boiler, supplementary air conditioner or pressure object or similar
equipment in the Premises, with Landlord and each Superior Lesser and Superior
Mortgagee whose name and address shall have been furnished to Tenant, as
additional insureds, with limits of not less than $10,000,000 and (iv) when
Alterations are in process, the insurance specified in SECTION 5.02(f) hereof.
The limits of such insurance shall not limit the liability of Tenant. Tenant
shall deliver to Landlord and any other additional insureds, at least 10 days
prior to the Commencement Date, such fully paid-for policies or certificates of
insurance, in form reasonably satisfactory to Landlord issued by the insurance
company or its authorized agent. Tenant shall procure and pay for renewals of
such insurance from time to time before the expiration thereof, and Tenant shall
deliver to Landlord and any other additional insureds such renewal policy or a
certificate thereof atleast 30 days before the expiration of any existing
policy. All such policies shall be issued by companies of recognized
responsibility approved to do business in New York State and rated by Best's
Insurance Reports or any successor publication of comparable standing as A-/VIII
or better or the then equivalent of such rating, and all such policies shall
contain a provision whereby the same cannot be canceled, allowed to lapse or
modified unless Landlord any additional insureds are given at least 30 days'
prior written notice of such cancellation, lapse or modification. The proceeds
of policies providing "all risk" property insurance of Fixtures and Improvements
and Betterments shall be payable to Landlord, Tenant and each Superior Lessor
and Superior Mortgagee as their interests may appear. Tenant shall have the
right to receive the proceeds paid with respect to Tenant's Property of any
policy maintained by Tenant to provide insurance of Tenant's property. Tenant
shall cooperate with Landlord in connection with the collection of any insurance
monies that may be due in the event of loss and Tenant shall execute and deliver
to Landlord such proofs of loss and other instruments which may be required to
recover any such insurance monies. Landlord may from time to time require that
the amount of the insurance to be maintained by Tenant under this SECTION 8.02
be increased, so that the amount thereof adequately protects Landlord's interest
but such increase shall not be in excess of to that amount of insurance which in
Landlord's reasonable judgment is then being customarily required by prudent
landlords of non-institutional first class office buildings in New York City.
Any insurance policy with respect to the insurance required to be maintained by
Tenant hereunder may be carried under a blanket policy covering the Premises and
other locations of Tenant, if any, provided that (x) the coverages and limits
applicable to the Premises are separately stated in amounts not less than the
amounts required hereunder and (y) the coverage afforded under such blanket
policy allocable to the Premises shall not be less than the coverage which would
have been afforded had such insurance not been covered under a blanket policy.

                                       50
<Page>

               (b) To the extent not maintained by Overlandlord, Landlord agrees
that Landlord shall maintain at all times during the Term such (i) "all risk"
property insurance, (ii) commercial general liability insurance and (iii) any
other form of insurance, and in such amounts, as is carried by prudent owners of
similar properties. Landlord shall be deemed to have satisfied the foregoing
obligation of this Section 8.02(b) if Landlord maintains the insurance required
by the Overlease.

               (c) Notwithstanding anything in this Lease to the contrary, so
long as (i) Tenant is not in default of its obligations under this Lease to pay
Fixed Rent and Additional Charges beyond applicable notice and grace periods,
(ii) Tenant maintains substantially the same creditworthiness as exists on the
date hereof and (iii) Tenant named herein, any Successor Entity or any Affiliate
is the Tenant hereunder, Tenant may, in lieu of maintaining the liability
insurance required under this Lease, self-insure and assume the risks of, and
shall pay all costs of or related to, all liability claims that may be asserted
against Tenant and all liability claims which may be asserted against Landlord,
Landlord's agents, any Superior Mortgagee or any Superior Lessor in a combined
aggregate amount not to exceed $5,000,000.00 (it being understood that Tenant
shall maintain coverage for liability in excess of such amount otherwise in
accordance with Section 8.02(a) above) for which Tenant is responsible pursuant
to this Lease and with respect to which Tenant has self-insured. As a
self-insurer Tenant shall be responsible for any and all obligations of Tenant
to indemnify and hold Landlord harmless from and against any matters refereed to
in this Lease or which otherwise would have been included within the coverage of
any insurance policy required by Tenant to be obtained under any provision of
this Lease. If Tenant elects to provide insurance coverage for which Tenant is
responsible under this Section by self-insurance, it shall provide coverage upon
the same terms and conditions as would be provided by an insurance company if
Tenant had procured such policies as described in this Section and as if
Landlord, Overlandlord and any Superior Mortgagee were named in such policies as
additional insureds. In the event Tenant elects to act as self-insurer pursuant
to the provisions of this paragraph, then, without limiting the provisions of
this Section, Tenant shall act as insurer of Landlord, Overlandlord and any
Superior Mortgagee with respect to, shall defend and answer actions against
Landlord and Overlandlord against all claims and demands of third persons,
including, without limitation, any claim or demand of any third person arising
out of any willful or negligent act or omission of Landlord or Overlandlord, and
their respective directors, officers, agents or employees and liability therefor
to the same extent that an insurance company would have done and to the same
extent as would be covered under the policy of commercial general liability
insurance described in this Section. If Tenant elects to self-insure, Tenant
will provide a written statement of Tenant's self-insurance. In the event that
any of the conditions specified in CLAUSES (i), (ii) or (iii) are no longer
satisfied, then within 5 Business Days thereafter Tenant shall obtain and keep
in full force and effect during the Team of this Lease the liability insurance
otherwise required by this Lease. If Tenant fails to obtain such insurance
within such 5 Business Day period, Landlord may purchase such insurance at
Tenant's expense. Tenant may elect to cease its self-insurance program hereunder
at any time so long as not less than 10 days prior thereto Tenant puts in place
all liability insurance required under this Lease and delivers evidence thereof
to Landlord.

          SECTION 8.03. SUBROGATION WAIVER. Landlord and Tenant shall each
include in each of its insurance policies (insuring the Project in case of
Landlord, and insuring Tenant's Property, Fixtures and Improvements and
Betterments in the case of Tenant, against loss,

                                       51
<Page>

damage or destruction by fire or other casualty) a waiver of the insurer's right
of subrogation against the other party during the Term or, if such waiver should
be unobtainable or unenforceable, (a) an express agreement that such policy
shall not be invalidated if the assured waives the right of recovery against any
party responsible for a casualty covered by the policy before the casualty or
(b) any other form of permission for the release of the other party. Each party
hereby releases the other party with respect to any claim (including a claim for
negligence) which it might otherwise have against the other party for loss,
damage or destruction with respect to its property occurring during the Term to
the extent to which it is, or is required to be, insured under a policy or
policies containing a waiver of subrogation or permission to release liability.
Nothing contained in this SECTION 8.03 shall be deemed to relieve either party
of any duty imposed elsewhere in this Lease to repair, restore or rebuild or to
nullify any abatement of rents provided for elsewhere in this Lease.

          SECTION 8.04. CONDEMNATION. (a) If there shall be a total taking of
the Land and/or the Building in condemnation proceedings or by any right of
eminent domain, this Lease and the term and estate hereby granted with respect
to the Premises shall terminate as of the date of taking of possession by the
condemning authority and all Rent shall be prorated and paid as of such
termination date. If there shall be taking of any material (in Landlord's
reasonable judgment) portion of the Land and/or Building (whether or not the
Premises or any portion thereof are affected by such taking), then Landlord may
terminate this Lease and the term and estate granted hereby by giving notice to
Tenant within 60 days after the date of taking of possession by the condemning
authority. If there shall be a taking of the Premises of such scope (but in no
event less than 25% thereof) that the untaken part of the Premises would in
Tenant's reasonable judgment no longer suited for the purposes set forth in
Article 2 of this Lease, or Tenant no longer has responsible means of access to
such Premises then Tenant may terminate this Lease and the term and estate
granted hereby by giving notice to Landlord within 60 days after the date of
taking of possession by the condemning authority. If either Landlord or Tenant
shall give a termination notice as aforesaid, then this Lease and the term and
estate granted hereby shall terminate as of the date of such notice and all Rent
shall be prorated and paid as of such termination date. In the event of taking
of Premises which does not result in the termination of this Lease (i) the term
and estate hereby granted with respect to the taken part of the Premises shall
terminate as of the date of taking of possession by the condemning authority and
all Rent shall be appropriately abated for the period from such date to the
Expiration Date and (ii) Landlord shall with reasonable diligence restore the
remaining portion of the Premises (exclusive of Tenant's Property) as nearly as
practicable to its condition prior to such taking.

          (b) In the event of any taking of all or a part of the Building,
Landlord shall be entitled to receive the entire award in the condemnation
proceeding, including, without limitation, any award made for the value of
the estate vested by this Lease in Tenant or any value attributable to the
unexpired portion of the Term, and Tenant hereby assigns to Landlord any and
all right, title and interest of Tenant now or hereafter arising in or to any
such award or any part thereof, and Tenant shall be entitled to receive no
part of such award; PROVIDED, that nothing shall preclude Tenant from
intervening in any such condemnation proceeding to claim or receive from the
condemning authority any compensation to which Tenant may otherwise lawfully
be entitled in such case in respect of Tenant's Property, Tenant's
Alterations, Betterments or Improvements (except to the extent such
Alterations constitute property which is, or at the expiration of the Term,
becomes Landlord's property) or moving expenses, provided the same does not
include

                                       52
<Page>

any value of the estate vested by this Lease in Tenant or of the unexpired
portion of the Term and does not reduce the award available to Landlord or
materially delay the payment thereof.

          (c) If all or any part of the Premises shall be taken for a limited
period, Tenant shall be entitled, except as hereinafter set forth, to that
portion of the award for such taking which represents compensation for the use
and occupancy of the Premises, for the taking of Tenant's Property, Tenant's
Alterations (except to the extent such Alterations constitute property which is,
or at the expiration of the Term, becomes Landlord's property) or for moving
expenses, and Landlord shall be entitled to that portion which represents
reimbursement for the cost of restoration of the Premises. This Lease shall
remain unaffected by such taking and Tenant shall continue responsible for all
of its obligations under this Lease to the extent such obligations are not
affected by such taking and shall continue to pay in full all Rent when due. If
the period of temporary use of occupancy shall extend beyond the Expiration
Date, that part of the award which represents compensation for the use and
occupancy of the Premises shall be apportioned between Landlord and Tenant as of
the Expiration Date. Any award of temporary use and occupancy for a period
beyond the date to which the Rent has been paid shall be paid to, held and
applied by Landlord as a trust fund for payment of the Rent thereafter becoming
due.

          (d) In the event of any taking which does not result in termination of
this Lease, (i) Landlord, whether or not any award shall be sufficient therefor,
shall proceed with reasonable diligence to repair the remaining parts of the
Building and Premises (other that those parts of the Premises which constitute
Tenant's Property) to substantially their former condition to the extent that
the same may be feasible (subject to reasonable changes which Landlord deems
desirable) and so as to constitute a complete and rentable Building and Premises
and (ii) Tenant, whether or not any award shall be sufficient therefor, shall
proceed with reasonable diligence to repair the remaining parts of the Premises
which constitute Tenant's Property, to substantially their former condition to
the extent that the same may be feasible, subject to reasonable changes which
shall be deemed Alterations.

          SECTION 8.05. CASUALTY. (a) If the Building or the Premises shall be
partially or totally damage or destroyed by fire or other casualty (each, a
"CASUALTY") and if this Lease is not terminated as provided below, then (i)
Landlord shall repair and restore the Building, including the exterior and
public portions thereof (including, without limitation, the Building lobbies,
exterior walls, elevator shafts), Building systems servicing the Premises, and
the Premises (excluding Tenant's Improvements and Betterments, Fixtures and
Tenant's Property) with reasonable dispatch to substantially the condition as
existed prior to the damage to the extent permitted by applicable Law (but
Landlord shall not be required to perform the same on an overtime or premium pay
basis) after notice to Landlord of the Casualty and the collection of the
insurance proceeds attributable to such Casualty provided, however, in the event
that Landlord fails to maintain the insurance customarily carried by prudent
Landlords of similar type buildings, the collection of insurance proceeds shall
not be a condition to Landlord performing such restoration and (ii) Tenant shall
repair and restore in accordance with SECTION 5.02 all Tenant's Property,
Fixtures and Improvements and Betterments with reasonable dispatch after the
Casualty, including any tenant build-out existing in the Premises on the date of
delivery thereof by Landlord (collectively, "TENANT CASUALTY REPAIR
OBLIGATIONS"). Landlord agrees that, if and to the extent, Landlord, any
Superior Mortgagee or any Superior Lessor receives insurance proceeds in respect
of Tenant Casualty Repair Obligations Landlord shall notify Tenant thereof

                                       53
<Page>

and upon request of Tenant, make such proceeds available to Tenant so that
Tenant may perform its Tenant Casualty Repair Obligations. In the event Landlord
has received proceeds in respect of Tenant Casualty Repair Obligations and
Landlord does not make such proceeds available to Tenant, Landlord shall be
obligated, at Landlord's cost and expense, to perform the Tenant Casualty Repair
Obligations with reasonable dispatch after the Casualty. In the event any
Superior Mortgagee or any Superior Lessor has received proceeds in respect of
Tenant Casualty Repair Obligations and such Superior Mortgagee or Superior
Lessor shall refuse to release such proceeds to Tenant, Landlord shall be
obligated, at Landlord's cost and expense, to perform or cause to be performed
the Tenant Casualty Repair Obligations.

          (b) If all or part of the Premises shall be rendered untenantable by
reason of a Casualty, the Fixed Rent and the Additional Charges under SECTION
3.04 and 3.05 shall be abated in the proportion that the untenantable area of
the Premises bears to the total area of the Premises, for the period from the
date of the Casualty to the earlier of (i) the date the Premises is made
tenantable (PROVIDED, that if the Premises would have been tenantable at an
earlier date but for Tenant having failed to cooperate with Landlord in
effecting repairs or restoration or collecting insurance proceeds or (ii) the
date Tenant or any subtenant reoccupies a portion of the Premises (in which case
the Fixed Rent and the Additional Charges allocable to such reoccupied portion
shall be payable by Tenant from the date of such occupancy). Landlord's
determination of substantial completion of the restoration of the Premises
(excluding Tenant's Improvement, Betterments, Fixtures and Tenant's Property the
repair of which shall be Tenant's obligation), shall be controlling unless
Tenant disputes same by notice to Landlord within 30 days after such
determination by Landlord, and pending resolution of such dispute, Tenant shall
pay Rent in accordance with Landlord's determination. Notwithstanding the
foregoing, if by reason of any act or omission by Tenant, any subtenant or any
of their respective partners, directors, officers, servants, employees, agents
or contractors, Landlord, any Superior Lessor or any Superior Mortgagee shall be
unable to collect all of the insurance proceeds (including, without limitation,
rent insurance proceeds) applicable to the Casualty, then, without prejudice to
any other remedies which may be available against Tenant, there shall be no
abatement of Rent. Nothing contained in this SECTION 9.05 shall relieve Tenant
from any liability that may exist as a result of any Casualty. Prior to the
substantial completion of Landlord's repair obligations set forth in this
Section, Landlord shall provide Tenant and Tenant's contractors, subcontractors
and materialmen access to the Premises to perform such repairs that Tenant is
required or desire to make hereunder as a result of the Casualty (but not to
occupy the same for the conduct of business); PROVIDED that any such access
shall be subject to all of the applicable provisions of the Lease, and, shall
not interfere with the conduct of Landlord's work AND in the Premises or in any
other damaged portion of the Building.

          (c) If by reason of a Casualty (i) the Building shall be totally
damaged or destroyed, (ii) the Building shall be so damaged or destroyed
(whether or not the Premises are damaged or destroyed) that repair or
restoration shall require more than 270 days or the expenditure of more that 25%
percent of the full insurable value of the Building (which, for purposes of this
SECTION 9.05(c), shall mean replacement cost less the cost of footings,
foundations and other structures below the street and first floors of the
Building) immediately prior to the Casualty or (iii) more than 50% of the
Premises shall be damaged or destroyed (as estimated in any such case by a
reputable contractor, architect or engineer designated by

                                       54
<Page>

Landlord), then in any such case Landlord may terminate this Lease by notice
given to Tenant within 180 days after the Casualty.

          (d) Within ninety (90) days after notice to Landlord of any Casualty,
Landlord shall deliver to Tenant a statement prepared by a reputable contractor
selected by Landlord setting forth such contractor's estimate as to the time
required for Landlord to substantially complete the repairs required to be
performed by it hereunder (the "REPAIR ESTIMATE NOTICE"). If the estimated time
period exceeds eighteen (18) months from the date of such statement, Tenant may
elect to terminate this Lease by notice to Landlord not later than thirty (30)
days following receipt of such statement. If Tenant makes such election, the
Term shall expire upon the 30th day after notice of such election is given by
Tenant.

          (e) If Landlord shall have delivered a notice to Tenant pursuant to
SECTION 9.05(d) and no right to terminate this Lease shall have accrued to
Tenant by reason thereof, but Landlord shall have failed to substantially
complete the repairs by the date which is six (6) months after the date set
forth in the Repair Estimate Notice (the "REQUIRED SUBSTANTIAL COMPLETION
DATE"), as the same may be extended by reason of Unavoidable Delays (but not in
excess of one hundred twenty (120) days), Tenant may elect to terminate this
Lease by notice to Landlord given not later than thirty (30) days after the
Required Substantial Completion Date and if Tenant makes such election, the Term
shall expire on the thirtieth (30th) day after notice of such election is given
by Tenant.

          (f) Notwithstanding anything to the contrary contained in this SECTION
8.05, if more than twenty-five percent (25%) of the Premises shall be damaged
during the last eighteen (18) months of the Term (as the same may be renewed or
extended), Landlord or Tenant may elect by notice, given within sixty (60) days
after the occurrence of such damage, to terminate this Lease and, if either
party makes such election, the Term shall expire upon the sixtieth (60th) day
after notice of such election is given by such party.

          (g) Landlord shall not carry any insurance on Tenant's Property,
Fixtures or on Tenant's Improvements and Betterments and shall not be obligated
to repair or replace Tenant's Property, Fixtures or Improvements and
Betterments. Tenant shall look solely to its insurance for recovery of any
damage to or loss of Tenant's Property, Fixtures or Tenant's Improvements and
Betterments. Tenant shall notify Landlord promptly of any Casualty in the
Premises.

          (h) This SECTION 9.05 shall be deemed an express agreement governing
any damage or destruction of the Premises by fire or other casualty and Section
277 of the New York Real property Law providing for such a contingency in the
absence of an express agreement, and any other law of like import now or
hereafter in force, shall have no application.

                                    ARTICLE 9

                            MISCELLANEOUS PROVISIONS

          SECTION 9.01. NOTICE. All notices, demands, consents, approvals,
advices, waivers or other communications which may or are required to be given
by either party to the

                                       55
<Page>

other under this Lease shall be in writing and shall be deemed to have been
given one Business Day after deposit in the United States mail, certified or
registered, postage prepaid, (return receipt requested) or, rendered if
delivered by hand (against a signed receipt) or nationally recognized, overnight
courier service (against a signed receipt), and addressed to the party to be
notified at the address for such party specified in the first paragraph of this
Lease 5 day's notice to the notifying party. In the case of each notice to
Landlord, such notice shall be sent to the attention of: Managing Director,
Corporate Services, with a copy to Shearman & Sterling, 599 Lexington Avenue,
New York, New York 10022, Attention: Chris M. Smith, Esq. and, in the case of
each notice to Tenant at the Premises to the attention of General Counsel and
Chief, Real Estate and Environmental Law Division, Law Department, The Port
Authority of New York and New Jersey. Any such bill, statement, consent, notice,
demand, request or other communication shall be deemed to have been rendered or
given on the date when it shall have been delivered (or upon refusal to accept
delivery). Notices from Tenant may be given by Tenant's attorney. Notices from
Landlord may be given by Landlord's managing agent, if any, or by Landlord's
attorney.

          SECTION 9.02. BUILDING RULES. Tenant shall comply with, and Tenant
shall cause its licensees, employees, contractors, agents and invitees to comply
with, the rules of the Building set forth in the Rules and Regulations, as the
same may be reasonably modified or supplemented by Landlord from time to time
for the safety, care and cleanliness of the Premises and the Building and for
preservation of good order therein. Landlord shall not be obligated to enforce
the rules of the Building against Tenant or any other tenant of the Building or
any other party, and Landlord shall have no liability to Tenant by reason of the
violation by any tenant or other party of the rules of the Building; PROVIDED,
that Landlord shall not enforce the rules of the Building in a manner which
discriminates against Tenant. If any rule of the Building shall conflict with
any provision of this Lease, such provision of this Lease shall govern.

          SECTION 9.03. SEVERABILITY. If any term or provision of this Lease, or
the application thereof to any person or circumstances shall to any extent be
invalid or unenforceable, the remainder of this Lease, or the application of
such provision to persons or circumstances other than those as to which it is
invalid or unenforceable, shall not be affected, and each provision of this
Lease shall be valid and shall be enforceable to the extent permitted by law.

          SECTION 9.04. CERTAIN DEFINITIONS. Landlord shall have no liability to
Tenant" or words of similar import mean that Tenant is not entitled to terminate
this Lease, or to claim actual or constructive eviction, partial, or total, or
to receive any abatement or diminution of Rent, or to be relieved in any manner
or any of its other obligations under this Lease, or to be compensated for loss
or injury suffered or to enforce any other right or kind of liability whatsoever
against Landlord under or with respect to this Lease or with respect to Tenant's
use or occupancy of the Premises.

          SECTION 9.05. QUIET ENJOYMENT. Tenant shall and may peaceably and
quietly have, hold and enjoy the Premises, subject to the other terms of this
Lease and to Superior Leases and Superior Mortgages, provided that Tenant is not
in default of its obligations hereunder beyond any applicable notice and cure
periods.

                                       56
<Page>

          SECTION 9.06. LIMITATION OF LIABILITY (a) Tenant shall look solely to
Landlord's interest in the Project, the proceeds of any sale thereof (provided a
claim shall have been made within three (3) months of such sale), casualty
proceeds and any condemnation award for the recovery of any judgment against
Landlord, and no other property or assets of Landlord or Landlord's members,
partners, officers, directors, shareholders or principals, direct or indirect,
disclosed or undisclosed, shall be subject to levy, execution attachment or
other enforcement procedure for the satisfaction of any judgment or Tenant's
remedies under or with respect to this Lease, the relationship of Landlord and
Tenant hereunder, or Tenant's use and occupancy of the Premises, or any other
liability of Landlord to Tenant.

          (b) In the event of a transfer of title to the land and Building of
which the Premises is a part, or in the event of a lease of the Building of
which the Premises is a part, or of the land and Building, upon notification to
Tenant of such transfer or lease, the said transferor landlord named herein
shall be and hereby is entirely freed and relieved of all future covenants,
obligations and liabilities of Landlord hereunder, and it shall be deemed and
construed without further agreement between the parties or their successors in
interest, or between the parties and the transferee of title to or lessee of
said land and Building, that the transferee or lessee has assumed and agreed to
carry out all of the covenants and obligations of Landlord thereunder.

          (c) Neither the Commissioners of the Port Authority nor any of them
nor any officer, employee or agent shall be personally liable for the
performance of Tenant's obligations under this Lease.

          SECTION 9.07. COUNTERCLAIMS. If Landlord commences any summary
proceeding or action for nonpayment of Rent or to recover possession of the
Premises, Tenant shall not interpose any counterclaim of any nature or
description in any such proceeding or action, unless Tenant's failure to
interpose such counterclaim in such proceeding or action would result in the
waiver of Tenant's right to bring such claim in a separate proceeding under
applicable law.

          SECTION 9.08. SURVIVAL. All obligations and liabilities of Landlord or
Tenant to the other which accrued before the expiration or other termination of
this Lease and all such obligations and liabilities which by their nature or
under the circumstances can only be, or by the provisions of this Lease may be,
performed after such expiration or other termination, shall survive the
expiration or other termination of this Lease. Without limiting the generality
of the foregoing, the rights and obligations of the parties with respect to any
indemnity under this Lease, and with respect to Tax payments and any other
amounts payable under this Lease, and with respect to Tax Payments and any other
amounts payable under this Lease, shall survive the expiration or other
termination of this Lease.

          SECTION 9.09. CERTAIN REMEDIES. If Tenant requests Landlord's consent
and Landlord fails or refuses to give such consent, Tenant shall not be entitled
to any damages for any withholding by Landlord of its consent, it being intended
that Tenant's sole remedy shall be an action for specific performance or
injunction or for arbitration as provided for in Section 8.19 herein, and that
such remedy shall be available only in those cases where this Lease provides
that Landlord shall not unreasonably withhold its consent. No dispute relating
to this Lease or the relationship of Landlord and Tenant under this Lease shall
be resolved by arbitration unless this Lease expressly provides for such dispute
to be resolved by arbitration.

                                       57
<Page>

          SECTION 9.10. NO OFFER. The submission by Landlord of this Lease in
draft form shall be solely for Tenant's consideration and not for acceptance and
execution. Such submission shall have no binding force or effect and shall
confer no rights nor impose any obligations, including brokerage obligations, on
either party unless and until both Landlord and Tenant shall have executed a
lease and duplicate originals thereof shall have been delivered to the
respective parties.

          SECTION 9.11. CAPTIONS; CONSTRUCTION. The table of contents, captions,
headings and titles in this Lease are solely for convenience of reference and
shall not affect its interpretation. This Lease shall be construed without
regard to any presumption or other rule requiring construction against the party
causing this Lease to be drafted. Each covenant, agreement, obligation or other
provision of this Lease on Tenant's part to be performed, shall be deemed and
construed as a separate and independent covenant of Tenant, not dependent on any
other provision of this Lease.

          SECTION 9.12. AMENDMENTS. This Lease may not be altered, changed or
amended nor any of its provisions waived, except by an instrument in writing
signed by the party to be charged.

          SECTION 9.13. BROKER. Each party represents to the other that such
party has dealt with no broker other than Insignia/ESG, Inc. (the "BROKER") in
connection with this Lease or the Building, and each party shall indemnify and
hold the other harmless from and against all loss, cost, liability and expense
(including, without limitation, reasonable attorneys' fees and disbursements)
arising out of any claim for a commission or other compensation by any broker
other than Broker who alleges that is has dealt with the indemnifying party in
connection with this Lease or the Building. Landlord shall pay Broker a
commission in accordance with the terms and conditions of a separate agreement
between Landlord and Broker.

          SECTION 9.14. MERGER. Tenant acknowledges that Landlord has not made
and is not making, and tenant, in executing and delivering this Lease, is not
relying upon, any warranties, representations, promises or statements, except to
the extent that the same are expressly set forth in this Lease. This Lease
embodies the entire understanding between the parties with respect to the
subject matter hereof, and all prior agreements, understanding and statements,
oral or written, with respect thereto are merged in this Lease.

          SECTION 9.15. SUCCESSORS. This Lease shall be binding upon and inure
to the benefit of Landlord, its successors and assigns, and shall be binding
upon and inure to the benefit of Tenant, its successors, and Tenant's permitted
assigns.

          SECTION 9.16. APPLICABLE LAW. This Lease shall be governed by, and
construed in accordance with, the laws of the State of New York, without giving
effect to any principles of conflicts of laws.

          SECTION 9.17. NO DEVELOPMENT RIGHTS. Tenant acknowledges that it has
no rights to any developments rights, air rights or comparable rights
appurtenant to the Project, and Tenant consents, without further consideration,
to any utilization of such rights by Landlord. Tenant shall promptly execute and
deliver any instruments which may be requested by Landlord,

                                       58
<Page>

including instruments merging zoning lots, evidencing such acknowledgement and
consent. The provisions of this SECTION 9.17 shall be construed as an express
waiver by Tenant of any interest Tenant may have as a "party in interest" (as
such term is defined in Section 12-10 Zoning Lot of the Zoning Resolution of the
City of New York) in the Project.

          SECTION 9.18. SURRENDER. Upon the expiration or earlier termination of
this Lease, Tenant shall quit and surrender to Landlord the Premises, vacant,
broom clean, in good order and condition, ordinary wear and tear, casualty,
condemnation and damage for which Tenant is not responsible under the terms of
this Lease excepted, provided, however, that the foregoing shall not obligate
Tenant to restore the Premises to any greater condition than was delivered to
Tenant by Landlord. Tenant expressly waives, for itself and for any person
claiming through or under Tenant, any rights which Tenant or any such person may
have under the provisions of Section 2201 of the New York Civil Practice Law and
Rules and of any successor law of like import then in force in connection with
any holdover summary proceedings which Landlord may institute to enforce the
foregoing provisions of this Section 9.18. Tenant acknowledges that possession
of the Premises must be surrendered to Landlord on the Expiration Date.

          SECTION 9.19. ARBITRATION. If expressly permitted under this Lease,
Landlord or Tenant (the "ELECTING PARTY") may elect to resolve a dispute by
arbitration pursuant to the provisions of this Section. Such Electing Party
shall deliver to the other party a written notice specifying the nature of the
dispute, the reasons therefor and such Electing Party's determination of the
item in dispute. If the other party shall not agree with the Electing Party's
determination of the item in dispute, then either party shall have the right to
submit such dispute to arbitration pursuant to this SECTION 9.19 by notice to
the other party. The parties hereby agree that all such disputes submitted to
arbitration shall be resolved by an arbitrator mutually agreed to by the
parties, and if the parties cannot agree on an arbitrator, either party may
apply to the American Arbitration Association for the appointment of an
arbitrator (the "ARBITRATOR"). The Arbitrator shall, as promptly as possible,
determine the matter which is the subject of the arbitration and the decision of
the Arbitrator shall be conclusive and binding on all parties and judgment upon
the award may be entered in any court having jurisdiction. The arbitration shall
be conducted in the City and County of New York and, to the extent applicable
and consistent with this SECTION 9.19, shall be in accordance with the
Commercial Arbitration Rules then obtaining of the American Arbitration
Association or any successor body of similar function. The expenses of
arbitration shall be shared equally by the parties but each party shall be
responsible for the fees and disbursements of its own attorneys and the expenses
of its own proof. The Arbitrator shall be a licensed professional appropriate to
the dispute, having at least ten (10) years' continuous experience in the real
estate industry including the management of multi-tenant, commercial office
buildings in Manhattan similar in type to the Project. At the option of either
party, any arbitration under this Lease shall be governed by the Expedited
Procedures provisions of the Commercial Arbitration Rules of the American
Arbitration Association (the "AAA RULES") (presently Section 53 through 57 of
the AAA Rules and, to the extent applicable, Section 19 thereof).

          SECTION 9.20. SIGNAGE. Tenant shall be permitted to install, at its
sole cost and expense, signs identifying Tenant in the elevator lobby of the
Initial Premises and the Additional Premises, subject to Landlord's reasonable
approval as to design and materials. Landlord, at

                                       59
<Page>

Landlord's option, shall either (i) in the Building lobby a sign of appropriate
size and suitable design identifying Tenant as an occupant of the Building, (ii)
maintain a Building directory in which Tenant shall be allocated an appropriate
number of listings, or (iii) provide some other reasonable and appropriate means
of indicating in the lobby of the Building that Tenant is an occupant of the
Building and Tenant's location therein, provided, that, with respect to the
matters set forth in clauses (ii) and (iii) above, Landlord agrees that the
directory related services or means of identification Landlord provides to
Tenant described therein shall be at least commensurate in quality and
extensiveness with the directory related services or means of identification
Landlord provides to Overlandlord.

          SECTION 9.21. ATTORNEYS' FEES. Each party shall reimburse the other
party, within twenty (20) days following written demand, for all reasonable
costs and expenses (including reasonable attorneys' fees, disbursements and
court costs) incurred by such other party in connection with enforcing such
other party's obligations hereunder or in protecting such other party's rights
hereunder, whether incurred in connection with an action or proceeding commenced
by Landlord, by Tenant, by a third party or otherwise, if such other party is
successful in such proceeding.

          SECTION 9.22. COUNTERPARTS. This Lease may be executed in any number
of counterparts, each of which where so executed and delivered shall be an
original, but all of which shall constitute one and the same instrument. It
shall not be necessary in making proof of this Lease to produce or account for
more than one such counterpart.

          SECTION 9.23. INVOICES. Wherever in the Lease it is provided that
either party shall render a bill or invoice to the other, the party giving such
bill or invoice shall include evidence of the amounts set forth in the bill or
invoice.

                                   ARTICLE 10

                               SUBLEASE PROVISIONS

          SECTION 10.01.SUBLEASE PROVISIONS. (a) Notwithstanding the title of
this document as "Lease", the parties acknowledge that this Lease is a sublease.
This Lease is subject to, and Tenant accepts this Lease subject to, all of the
terms, covenants, provisions, conditions and agreements contained in the
Overlease and the matters to which the Overlease is subject and subordinate.
This Lease shall also be subject to, and Tenant accepts this Lease also subject
to, any future amendments or supplements to the Overlease hereafter made between
Overlandlord and Landlord, provided that any such future amendment or supplement
to the Overlease, except as herein expressly recognized, contemplated or agreed,
does not in any material respect increase Tenant's obligations or decrease
Tenant's rights from, out of or under this Lease or prohibit Landlord from
meeting its obligations under hereunder. Except to the extent provided in this
Subordination and Non-Disturbance Agreement between Tenant and Overlandlord, in
the event of termination, re-entry or dispossess by Overlandlord under the
Overlease, Overlandlord may, at its option, take over all of the right, title
and interest of Landlord, as sublessor, under this Lease, and Tenant shall, at
Overlandlord's option, attorn to

                                       60
<Page>

Overlandlord pursuant to the then executory provisions of this Lease, except
that Overlandlord shall not (i) be liable for any previous act or omission of
Landlord under this Lease, (ii) be subject to any offset, not expressly provided
in this Lease, which theretofore accrued to Tenant against Landlord, or (iii) be
bound by any previous modification of this Lease made without Overlandlord's
consent or by any previous prepayment of more than one month's rent. In the
event of any conflict between the terms of any Subordination and Non-Disturbance
Agreement entered into between Tenant and Overlandlord and the provisions of
this Lease, including the foregoing sentence, the terms and provisions of the
Subordination and Non-Disturbance Agreement shall govern.

          (b) The term "Landlord", as used in this Lease, shall mean only the
owner from time to time of the interest of the tenant under the Overlease. In
the event of any transfer or assignment of such interest, the transferor or
assignor shall be relieved and freed of all covenants, obligations and liability
of Landlord under this Lease accruing after such transfer or assignment, and it
shall be deemed, without further agreement, that the transferee or assignee has
assumed and agreed to perform and observe all obligations of Landlord under this
Lease subsequent to the effective date of the transfer or assignment.

          (c) Whenever Landlord has agreed that a required consent or approval
shall not be withheld or delayed or unreasonably withheld or delayed, Landlord
may withhold its consent or approval and/or it shall be deemed reasonable for
Landlord to withhold or delay its consent or approval if Overlandlord, to the
extent its consent is required pursuant to the terms of the Overlease, shall
have delayed or refused to give any consent or approval which may be requested
of it. Landlord shall promptly forward to Overlandlord such requests as Tenant
may submit for approval or consent from Overlandlord. In the event a matter
hereunder requires the consent of Overlandlord pursuant to the terms hereof or
the Overlease and the time period for obtaining Overlandlord's consent to a
particular matter under the Overlease exceeds the time period set forth in the
Lease with respect to such matter, such time period in the Lease shall be
extended to the date set forth in the Overlease, plus an additional five (5)
Business Days. If Landlord is willing to grant its consent to Tenant to a
particular matter and Overlandlord is not willing to grant such consent,
Landlord shall use good faith efforts to intermediate with Overlandlord to
obtain such consent (without the obligation to spend sums of money, grant any
concessions to Overlandlord under the Overlease or undertake any other
significant monetary or non-monetary measures) and Tenant shall have the right
to take whatever action may available at law or under the Overlease to obtain
such consent in its own name, and for that purpose and only to such extent, all
of the rights of Landlord under the Overlease hereby are conferred upon and
assigned to Tenant and Tenant is subrogated hereby to such rights to the extent
that the same shall apply to the matter for which consent is sought. If any such
action against Overlandlord in Tenant's name shall be barred by reason of lack
of privity, nonassignability or otherwise, Tenant may take such action in
Landlord's name provided Tenant has obtained the prior written consent of
Landlord, which consent shall not be unreasonably withheld, provided, and Tenant
hereby agrees, that Tenant shall indemnify and hold Landlord harmless from and
against all liability, loss, damage or expense, including, without being limited
to, reasonable attorneys' fees and expenses, which Landlord shall suffer or
incur by reason of such action. Landlord agrees to cooperate with Tenant in any
reasonable manner requested by Tenant in connection with an action or proceeding
by Tenant against Overlandlord to enforce Landlord's rights under the Overlease
in respect of such consent; PROVIDED, HOWEVER, that Tenant shall have agreed in
writing

                                       61
<Page>

to reimburse Landlord for any out-of-pocket expenses incurred by Landlord in
connection with such cooperation

          (d) Tenant covenants and agrees to perform (including to refrain from
any action not permitted on the part of Landlord under the Overlease) and to
observe all of the covenants, agreements, terms, provisions and conditions of
the Overlease on the part of the Landlord to be performed and observed, to the
extent that they apply to the Premises or the use and occupancy by Tenant of the
Premises and the services and facilities of the Building. Tenant also covenants
and agrees not to do or cause to be done or suffer or permit any act or thing to
be done or suffered which would or might (i) constitute or cause a default under
the Overlease, (ii) cause the Overlease or the rights of Landlord as tenant
thereunder to be canceled, terminated or forfeited, (iii) cause Landlord to
become liable for any damages, costs, claims or penalties, or (iv) adversely
affect or reduce any of Landlord's rights or benefits under the Overlease.
Without limiting the generality of foregoing, Tenant acknowledges that Landlord
is obligated pursuant to the terms of the Overlease, including, without
limitation, Section 27.26 thereof, to reasonably cooperate with Overlandlord in
connection with the conversion of the Building ownership to a synthetic
condominium in connection with a transaction with the New York City Industrial
Development Agency. Tenant agrees that it shall reasonably cooperate with
Landlord to the extent necessary for Landlord to fulfill its obligations under
the Overlease in connection with the foregoing condominium conversion, provided
that Tenant's rights and obligations under the Lease shall not be adversely
affected thereby, except to a DE MINIMIS extent. Tenant agrees to indemnify,
defend and hold Landlord harmless of, from and against any and all liabilities,
losses, damages, suits, penalties, claims and demands of every kind or nature,
including, without being limited to, reasonable attorneys' fees and expenses of
defense and of enforcing this indemnity, by reason of Tenant's failure to comply
with the foregoing provisions of this clause (d) or arising from the use,
occupancy or manner of use and/or occupancy of the Premises or of any business
conducted therein, or from any work or thing whatsoever done or any condition
created by or any other act or omission of Tenant, its assignees or subtenants,
or their respective employees, agents, servants, contractors, invitees, visitors
or licensees, in or about the Premises or any other part or the Building,
provided, however, that Tenant shall not be obligated to indemnify Landlord with
respect to the acts and omissions of its invitees and visitors committed outside
of the Premises to the extent such parties were not specifically authorized or
invited by Tenant to enter the Building, it being understood that, without
limiting the generality of the foregoing, that messengers from outside
companies, delivery personnel, federal express and other courier service workers
bringing packages to Tenant shall be deemed to be "not specifically authorized
or invited" for the purposes of this Section.

          (e) Landlord covenants and agrees to perform and observe all of the
terms, covenants, provisions, conditions and agreements of the Overlease
(including any and all rules and regulations which shall be in effect from time
to time during the term of this Lease) in such manner so as to prevent the
Overlease from being terminated and so as to not adversely affect or reduce the
rights and benefits of Tenant under the Lease, it being understood that the
foregoing relates solely to Landlord's compliance with the Overlease in
accordance with its terms and shall not be deemed or construed to obligate
Landlord to seek to amend or contest, or otherwise act in any manner in
contradiction to the express terms of the Overlease, or to commence any action
against Overlandlord. Landlord represents that the Overlease is in full force
and effect and that, to the best of Landlord's knowledge, Landlord is not in
default with respect to any material

                                       62
<Page>

obligation of Landlord under the Overlease. Provided that Tenant is not then in
default under the terms of this Lease, Landlord agrees that it will not agree to
a termination of the Overlease unless in connection therewith Overlandlord
accepts this Lease as direct lease between Overlandlord and Tenant. Unless the
parties have otherwise entered into a Subordination and Non-Disturbance
Agreement, the terms of which will govern, if Landlord desires to terminate the
Overlease, Tenant agrees to attorn to Overlandlord in connection with any such
termination and to execute an attornment agreement in such form as may
reasonably be requested by Landlord or Overlandlord. Landlord further covenants
and agrees that if and so long as Tenant pays the Fixed Rent and Additional
Charges and performs and observes all of the agreements, terms, conditions,
covenants and provisions hereof, (i) Tenant shall quietly hold and enjoy the
Premises, subject, however, to the terms of this Lease and the Overlease and to
the matters to which the Overlease is subject and subordinate, and (ii) Landlord
shall not do or suffer or permit anything to be done or suffered which would
cause the Overlease to be cancelled, terminated or forfeited, except as provided
in the casualty and condemnation sections contained therein.

          (f) Tenant acknowledges and agrees that all services, repairs,
restorations, and access to and from the Premises may be provided by
Overlandlord, particularly during the Gross Lease Period (as defined in the
Overlease), and Landlord shall have no obligation during the term of this Lease
to provide any such services, repairs, restorations, equipment and access to the
extent the same is an obligation of Overlandlord under the Overlease. Tenant
agrees to look solely to Overlandlord for the furnishing of such services,
repairs, restorations, equipment and access. Landlord shall in no event be
liable to Tenant nor shall the obligations of Tenant hereunder be impaired or
the performance thereof excused because of any failure or delay on
Overlandlord's part in furnishing such services, repairs, restorations,
equipment and access; PROVIDED, HOWEVER, that if Landlord's rent is actually
abated pursuant to the Overlease in respect of the Premises with respect to a
service or condition that Overlandlord is required to provide or maintain, then
Fixed Rent payable hereunder by Tenant shall also be abated during the same
period that Landlord's rent is so abated. If Overlandlord shall default in any
of its obligations to Landlord with respect to the Premises, Tenant shall be
entitled to participate with Landlord in the enforcement of Landlord's rights
against Overlandlord, but Landlord shall have no obligation to bring any action
or proceeding or to take any steps to enforce Landlord's rights against
Overlandlord. If, after written request from Tenant, Landlord shall fail or
refuse to take appropriate action for the enforcement of Landlord's rights
against Overlandlord in respect of the Premises within a reasonable period of
time considering the nature of Overlandlord's default, Tenant shall have the
right to take such action in its own name, and for that purpose and only to such
extent, all of the rights of Landlord under the Overlease hereby are conferred
upon and assigned to Tenant and Tenant is subrogated hereby to such rights to
the extent that the same shall apply to the Premises. If any such action against
Overlandlord in Tenant's name shall be barred by reason of lack of privity,
nonassignability or otherwise, Tenant may take such action in Landlord's name
provided Tenant has obtained the prior written consent of Landlord, which
consent shall not be unreasonably withheld, provided, and Tenant hereby agrees,
that Tenant shall indemnify and hold Landlord harmless from and against all
liability, loss, damage or expense, including, without being limited to,
reasonable attorneys' fees and expenses, which Landlord shall suffer or incur by
reason of such action. Landlord agrees to cooperate with Tenant in any
reasonable manner requested by Tenant in connection with an action or proceeding
by Tenant against Overlandlord to enforce Landlord's rights under the Overlease
in respect of the

                                       63
<Page>

Premises; PROVIDED, HOWEVER, that Tenant shall have agreed in writing to
reimburse Landlord for any out-of-pocket expenses incurred by Landlord in
connection with such cooperation.

          (g) This Lease is subject to and conditioned upon Landlord's obtaining
the prior written consent of Overlandlord hereto as provided in Article 14 of
the Overlease. Promptly following execution and delivery hereof, Landlord will
submit this Lease to Overlandlord for such consent. Tenant agrees that it shall
cooperate in good faith with Landlord and shall comply with any reasonable
request made of Tenant by Landlord or Overlandlord in connection with the
procurement of such consent including, without being limited to, the execution
and delivery of a written form of Consent to Sublease. However, in no event
shall Landlord be obligated to make any payment to Overlandlord in order to
obtain the consent of Overlandlord to this Lease or any provision hereof. In the
event that Overlandlord has not executed the form of Overlandlord Consent
attached hereto as Exhibit G (or such other form of consent as may be reasonably
acceptable to Tenant) on or prior to November 30,12001, then either party hereto
shall have the right to terminate this Lease on five (5) Business Days prior
written notice to the other, in which event this Lease shall terminate and the
parties hereto shall be fully discharged and released from all obligations
hereunder. In the event that Overlandlord has not executed the Subordination and
Non-Disturbance Agreement substantially in the form attached hereto as Exhibit F
on or prior to November 30, 2001, the Tenant shall have the right, upon five (5)
Business Days prior written notice to Landlord to terminate this Lease, in which
event this Lease shall terminate and the parties hereto shall be fully
discharged and released from all obligations hereunder.

                                   ARTICLE 11A

                         REPRESENTATIONS AND WARRANTIES

          SECTION 11.01. LANDLORD'S REPRESENTATIONS AND WARRANTIES. (a) Landlord
hereby represents and warrants to Tenant that, as of the date hereof:

          (b) This Lease has been duly authorized by all necessary action on the
part of Landlord.

          (c) The person executing this Lease on behalf of Landlord, has full
power and authority to execute and deliver this Lease on behalf of Landlord and
perform any action in connection therewith.

          (d) The execution, delivery and performance of this Lease by Landlord,
and the consummation of the transaction contemplated hereby, will not result in
any violation of, or be in conflict with or constitute a default under any term
or provision of the operating agreement or governing corporate documents of
Landlord.

          (e) Except for the consent of Overlandlord, no consent, approval or
authorization is required in connection with the execution, delivery and
performance hereof by Landlord from any governmental entity or agency, or any
party pursuant to any contract, mortgage, credit agreement, lease or other
agreement or instrument to which Landlord is a party or by which it is bound.

                                       64
<Page>

          (f) Landlord knows of no outstanding claims, actions, suits, or
proceedings affecting Landlord that, if adversely determined, would have a
material adverse effect upon the operation of the Project.

          SECTION 11.02. TENANT'S REPRESENTATIONS AND WARRANTIES. (a) Tenant
hereby represents and warrants to Landlord that, as of the date hereof:

          (b) This Lease has been duly authorized by appropriate action of its
Commissioners.

          (c) The officer executing this Lease on behalf of Tenant has all
necessary licenses, authorization, permits and approvals, and full power and
authority, to execute and deliver this Lease on behalf of Tenant and perform any
action in connection therewith.

          (d) The execution, delivery and performance of this Lease by Tenant,
and the consummation of the transaction contemplated hereby, will not result in
any violation of, or be in conflict with or constitute a default under:

               (i) any term or provision of the articles or certificate of
incorporation, by-laws and/or any other similar document of Tenant.

               (ii) any term or condition of any contract, mortgage, loan
agreement, lease, or other agreement or instrument to which Tenant is a party or
by which it is bound; or

               (iii) any term or condition of any judgment, decree, order, law,
statute, rule, regulation, ordinance, franchise, certificate, permit or the like
applicable to Tenant or by which Tenant or its properties or assets are bound or
affected.

          (e) No consent, approval or authorization is required in connection
with the execution, delivery and performance hereof by Tenant from any
governmental entity or agency, or any party pursuant to any contract, mortgage,
credit agreement, lease or other agreement or instrument to which Tenant is a
party or by which it is bound.

          (f) Tenant knows of no outstanding claims, actions, suits, or
proceedings affecting Tenant that, if adversely determined, would have a
material adverse effect upon the financial condition of Tenant or upon the
operation of the Premises.

                                       65
<Page>

          IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease as of
the day and year first written above.

          Landlord:                      CREDIT SUISSE FIRST BOSTON (USA), INC.

                                         By:    /s/ Andrew B. Federbusch
                                                -------------------------------
                                                Name: ANDREW B. FEDERBUSCH
                                                Title: MANAGING DIRECTOR

          Tenant:                        THE PORT AUTHORITY OF NEW YORK AND
                                         NEW JERSEY

                                         By:
                                                -------------------------------
                                                Cherrie Nanninga
                                                Director Real Estate Department

          Tenant's Federal Tax I.D. No.:        -------------------------------

                                       I-69
<Page>

          IN WITNESS WHEREOF, Landlord and Tenant have executed this Lease as of
the day and year first written above.

          Landlord:                      CREDIT SUISSE FIRST BOSTON (USA), INC.

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

          Tenant:                        THE PORT AUTHORITY OF NEW YORK AND
                                         NEW JERSEY

                                         By:    /s/ Cherrie Nanninga
                                                -------------------------------
                                                Cherrie Nanninga
                                                Director Real Estate Department

          Tenant's Federal Tax I.D. No.:        -------------------------------

                                       I-69
<Page>

                       Metropolitan Life Insurance Company
                          Real Estate Investments (EIM)
                          200 Park Avenue / 12th Floor
                            New York, New York 10166

October 30, 2001

Credit Suisse First Boston (USA), Inc.
Eleven Madison Avenue
New York, New York 10010

Re: Agreement of Lease dated February 22, 2001 (the "Lease") between
Metropolitan Life Insurance Company ("Landlord") and Credit Suisse First Boston
(USA), Inc. ("Tenant") demising the building known as One Madison Avenue, New
York, New York 10010 (the "Demised Premises")

Gentlemen:

In accordance with your request, Landlord, having declined its option to
recapture the Demised Premises, hereby grants its consent (the "Consent") to the
execution and delivery of the sublease (the "Sublease") dated October 30, 2001
between Tenant, as sublessor, and The Port Authority of New York and New Jersey,
("Subtenant"), a body corporate and politic, created by compact between the
States of New York and New Jersey, with the consent of the Congress of the
United States of America, having an office at 225 Park Avenue South, New York,
New York 10003 as sublessee of portions of the Demised Premises as more
particularly in the Sublease (the "Sublet Space"), subject to the following
terms and conditions:

     1.   This consent shall not be assignable.

     2.   This Consent is for this transaction only.

     3.   The Sublet Space may be used and occupied, solely as general,
executive and administrative offices keeping with the character and reputation
in a manner befitting a "First-Class Office Building", by the following
departments of Subtenant (collectively, the "Permitted Users"), and none other
without Landlord's prior written consent, which consent shall not be
unreasonably withheld or delayed: Law Department, Comptroller's Department,
Aviation Department (headquarters staff), Treasury Department, Technology

<Page>

Services Department and Tunnel, Bridges and Terminals Department (headquarters
staff).

     4. Solely with respect to the Sublease to Subtenant (and any "Permitted
Successor Entity", hereinafter defined in this Paragraph 4) for the exclusive
use of the Sublet Space by the Permitted Users and none others, Landlord hereby
expressly waives the "Prohibitions" contained in Section 6.2.(a)(i) of the Lease
further provided that notwithstanding the foregoing, nothing herein contained
shall be deemed or construed to modify, waive, impair or affect any of the
provisions, covenants, agreements, terms or conditions contained in the Lease
(except as may be herein expressly provided), or to waive any breach thereof, or
any right of Landlord against Tenant, or to enlarge or increase Landlord's
obligations under the Lease, and all provisions, covenants, agreements, terms
and conditions contained in the Lease are (except as expressly herein modified,
waived, impaired or affected) hereby ratified and confirmed as being in full
force and effect. As used herein, the term "Permitted Successor Entity" shall
mean (i) an entity that is merged with Subtenant; (ii) a governmental or
quasi-governmental entity that succeeds to subtenant; or (iii) an entity that is
newly created by the State of New York and/or the State of New Jersey further
provided that the departments of the Permitted Successor Entity that would
occupy the Sublet Space are substantially comparable to the Permitted Users with
respect to the functions to be performed.

     5. Notwithstanding any subletting provided for herein, Tenant shall be and
remain fully liable for payment of the rent, additional rent due and all other
sums to become due under the Lease and for the performance of all the covenants,
agreements, terms, provisions and conditions contained in the Lease on the part
of Tenant to be performed and all acts and omissions of Subtenant or anyone
claiming under or through Subtenant which shall be in violation of any of the
covenants, agreements, terms, provisions and conditions contained in the Lease,
shall be deemed a violation by Tenant.

     6. The Sublease shall be subject and subordinate at all times to the Lease,
to all of the provisions, covenants, agreements, terms and conditions contained
in the Lease and in this Consent, and to the matters to which the Lease and this
Consent are or shall be subject and subordinate, and Subtenant shall not do or
permit anything to be done which may or shall violate any of said provisions,
covenants, agreements, terms and conditions and matters. The use of the Demised
Premises as general and executive business offices, shall not be deemed such a
violation.

     7.   This Consent shall not be deemed or construed as a consent by Landlord
to, or as permitting, any other or further subletting by Tenant or anyone
claiming under or through Tenant (including without limitation,

                                        2
<Page>

Subtenant), and no other or further sublease of the premises demised by the
Lease or any part thereof or any assignment of the Lease or of the Sublease
shall be made by Tenant or anyone claiming under or through Tenant (including
without limitation, Subtenant) without Landlord's prior written consent in each
instance. Notwithstanding the foregoing, expressly subject and subordinate to
Landlord's "right of recapture" contained in the Lease, Landlord agrees that its
consent to one (1) such further subletting shall not be unreasonably withheld or
denied.

     8. In the event of termination, re-entry or dispossess by Landlord under
the Lease, expressly provided (i) Subtenant is not in default, subject to
applicable notice and cure periods under the Sublease, and (ii) all payments of
annual rent and additional rent due under the Sublease being current, Landlord
agrees not to disturb Subtenant's possession of the Sublet Space and to take
over all of the right, title and interest of Tenant, as sublessor, under the
Sublease, and Subtenant shall attorn to Landlord pursuant to the then executory
provisions of the Sublease, except that Landlord shall not (i) be liable for any
previous act or omission of Tenant under the Sublease, (ii) be subject to any
offset which theretofore accrued or may thereafter accrue to Subtenant against
Tenant, or (iii) be bound by any previous modification of the Sublease or by any
previous prepayment of more than one (1) month's rent.

     9. The Sublease shall not be valid, and Subtenant shall not take possession
of the Sublet Space or any part thereof, until an executed counterpart of the
Sublease has been delivered to Landlord.

     10. Notwithstanding any provision of the Sublease to the contrary, the term
of the Sublease (including any extension or renewal thereof, if any) shall
expire and terminate at least one (1) day prior to the expiration date of the
Lease.

     11. Except as otherwise provided in paragraph 8 of this Consent, nothing
contained herein or in the Sublease shall or shall be deemed to create any
landlord-tenant relationship between Landlord and Subtenant.

     12. Tenant and Subtenant warrant and represent to Landlord that they have
had no dealings, conversations or negotiations with any broker other than
Insignia/ESG, Inc. (the "Broker") concerning the execution and delivery of the
Sublease. Tenant agrees to pay the commission of the Broker, if any, further
provided that Tenant and Subtenant each agree to defend, indemnify and hold
harmless Landlord against and from any claims by the Broker or other party
claiming to have dealt with them for any brokerage commissions in connection
with the Sublease and all costs, expenses and liabilities in connection
therewith, including, without limitation, reasonable attorneys' fees

                                        3
<Page>

and disbursements, arising out of their respective representations and
warranties contained in this Paragraph 12 being untrue.

     13. Tenant and Subtenant each acknowledges, as contained in the Lease, that
there are general tenant guidelines for the Building covering construction,
maintenance, repair or other work. Tenant and Subtenant each agrees that all
repairs, renovations, alterations, installations, additions and improvements and
other activities within the scope of the general tenant guidelines for the
Building (including, without limitation, electrical and communications systems
and fireproofing) effected by or on behalf of Tenant and/or Subtenant in the
Sublet Space shall be conducted in accordance with and pursuant to the aforesaid
tenant guidelines, as well as any applicable governmental requirements and
regulations. Tenant and Subtenant each agrees that it is their responsibility to
ensure that Tenant and Subtenant and those working for them and/or either of
them comply with the aforesaid tenant guidelines as well as any other applicable
governmental requirements and regulations. Tenant and Subtenant each
acknowledges that they are aware that the aforesaid tenant guidelines are
available for their reference and use in the Building Manager's Office.

     14. In the event of any inconsistency between the terms and conditions of
this Consent and the terms and conditions of the Sublease, the terms and
conditions of this Consent shall govern.

     Upon the return to Landlord of six counterpart copies hereof with the
acceptance of Tenant and Subtenant endorsed thereon, not later than ten (10)
business days from the date hereof, this Consent shall be deemed to be the
binding obligation of each party in respect of all matters herein required on
the part of such party to be done or performed. In the event this Consent is not
executed by duly authorized officers of Tenant and Subtenant and returned to
Landlord within ten (10) days from the date hereof, this Consent, at Landlord's
option, shall be deemed to be null and void and of no force and effect.

Very truly yours,
Metropolitan Life Insurance Company,
Landlord

By: /s/ W. Mark Keeney
    ------------------------------------
    W. Mark Keeney, Vice-President

                                        4
<Page>

The undersigned hereby agree to the terms, provisions and conditions of this
letter agreement as set forth above this 30th day of October, 2001

Credit Suisse First Boston (USA), Inc.,
Tenant

By: /s/ Andrew B. Federbusch
    ------------------------
    Its MANAGING DIRECTOR

The Port Authority of New York and New Jersey,
Subtenant

By: /s/ [ILLEGIBLE]
    ---------------------------
    Its Director of Real Estate

                                        5
<Page>

                                 OVER LANDLORD'S
                            NON-DISTURBANCE AGREEMENT
                                       AND
                         SUBTENANT'S AGREEMENT TO ATTORN

          This Agreement, made as of this 30th day of October, 2001, by and
between METROPOLITAN LIFE INSURANCE COMPANY, a corporation organized and
existing under the laws of the State of New York, having its principal office
and place of business located at 200 Park Avenue, New York, New York 10166
(hereinafter referred to as "OVERLANDLORD") and THE PORT AUTHORITY OF NEW YORK
AND NEW JERSEY, a body corporate and politic, created by compact between the
States of New York and New York, with the consent of the United States of
America, having an office and place of business located at 225 Park Avenue
South, New York, New York 10003 (hereinafter referred to as "SUBTENANT").

                              W I T N E S S E T H:

          WHEREAS, Overlandlord is the present holder of the fee estate land and
in the building located at One Madison Avenue, New York, New York (hereinafter
referred to as the "BUILDING");

          WHEREAS, by indenture of lease (hereinafter referred to as the
"LEASE") dated February 22, 2001, between Overlandlord, as landlord, and Credit
Suisse First Boston (USA) Inc., as tenant (hereinafter referred to as "TENANT"),
Overlandlord leased the Building to Tenant;

          WHEREAS, Tenant, as sublandlord, and Subtenant, as subtenant, entered
into a certain sublease of space in the Building dated as of October ____, 2001,
which sublease is hereinafter referred to as "SUBLEASE" and the premises demised
thereby are hereinafter referred to as "DEMISED PREMISES" and which Demised
Premises are more particularly described in the Sublease;

          WHEREAS, Subtenant has requested that Overlandlord agree not to
disturb Subtenant's possessory rights in the Demised Premises in the event that
Overlandlord should terminate the Tenant's interest in the Lease or otherwise
cancels the Lease provided that Subtenant is not in default under the Sublease
(for a period in excess of the applicable grace period contained in the
Sublease) and further provided the Subtenant attorns to Overlandlord; and

          WHEREAS, Overlandlord is willing to so agree on the terms and
conditions hereinafter provided.

          NOW, THEREFORE, in consideration of the premises, the mutual covenants
contained herein and TEN ($10.00) DOLLARS and other good and valuable
consideration each to

                                       I-1
<Page>

the other in and paid, receipt of which is hereby acknowledged, Overlandlord and
Subtenant hereby agree as follows:

          1. The Sublease is and shall be subject and subordinate in all
respects to the Lease and to all renewals, modifications, replacements,
amendments and/or extensions of the same.

          2. a. Subject to the provisions of Section 2(b) below, provided
Subtenant complies with this Agreement and is not in default under the Sublease
of (A) any payment of rent or additional rents called for under the Sublease
(for a period in excess of the applicable grace period contained in the
Sublease), or (B) in the performance of any of the other terms, conditions,
covenants, clauses or agreements on Subtenant's part to be performed under the
Sublease (for a period in excess the applicable grace period contained in the
Sublease), then as of the date Overlandlord cancels or terminates the Lease for
any reason before the expiration date or earlier termination date provided in
the Sublease, as the same may have been modified, extended, renewed and/or
replaced, no cancellation or termination of the Lease will disturb Subtenant's
possession under the Sublease and the Sublease will not be affected or cut off
thereby (except that Subtenant's right to receive or set off any monies or
obligations owed or to be performed by the Tenant or the successors or assigns
to Tenant's interest in the Lease shall not be enforceable thereafter against
Overlandlord or any subsequent fee owner of the Building) and notwithstanding
any such termination or cancellation of the Lease or other acquisition of the
Tenant's interest in the Lease and merger with the Overlandlord's fee interest
in the Building, the Sublease will be recognized as a direct lease from
Overlandlord or any subsequent holder of the fee estate in the Building, except
that the Overlandlord or any subsequent holder of the fee estate in the Building
shall not (a) be liable for any previous act or omission under the Sublease by
the holder of the Lease interest, (b) be subject to any offset which Subtenant
may have against Tenant, (c) have any obligation with respect to any security
deposited under the Sublease unless such security has been physically delivered
to Overlandlord, (d) be bound by any previous modification of the Sublease or by
any previous prepayment of rent for a period greater than one (1) month, unless
such modification or prepayment shall have been expressly approved in writing by
the Overlandlord, or (e) be obligated to complete or permit the construction of
any improvements under the Sublease.

          b. Notwithstanding anything contained herein or in the Sublease, in
          the event that the rent and additional rent under the Sublease (after
          deducting therefrom an amount equal to the impositions payable by
          Tenant under the Lease prorated on a rentable square foot basis with
          respect to the Demised Premises and an amount equal to the expenses
          payable by Tenant to provide to the Demised Premises with the services
          required to be provided under the Sublease prorated on a rentable
          square foot basis) (such net rent herein called the "SUBLEASE NET
          RENT") shall be less than the portion of the Minimum Rent (as defined
          in the Lease) payable by the Tenant prorated on a rentable square foot
          basis with respect to the Demised premises (the "APPLICABLE MINIMUM
          RENT"); then, effective as of the date of aforementioned attornment
          and recognition, the Sublease shall be deemed to be automatically

                                       I-2
<Page>

          amended to increase the Sublease Net Rent to an amount equal to the
          Applicable Minimum Rent and to provide for Subtenant to continue to
          pay additional rent under the Sublease at least equal to the sum of
          (i) the Impositions payable by Tenant under the Lease prorated on a
          rentable square foot basis with respect to the Demised Premises and
          (ii) an amount equal to the expenses payable by Tenant to provide to
          the Demised Premises with the services required to be provided under
          the Sublease prorated on a rentable square foot basis.

          3. If Overlandlord elects to accept from the then holder of Tenant's
interest in the Lease a surrender or an assignment of the leasehold interest in
the Lease in lieu of canceling or terminating the Lease, Tenant's right to
receive or set off any monies or obligations owed or to be performed by the then
holder of the leasehold interest in the Lease shall not be enforceable
thereafter against Overlandlord or any subsequent holder of the fee estate in
the Building.

          4. Subtenant will, upon request of the Overlandlord or any subsequent
holder of the fee estate in the Building, execute a written agreement whereunder
Subtenant (A) confirms this attornment to Overlandlord or any such subsequent
holder of the fee estate in the Building, (B) affirms Subtenant's obligations
under the Sublease, (C) agrees to pay all rentals and charges then due or to
become due as they become due to Overlandlord or any such subsequent holder of
the fee estate in the Building, and (D) confirms the automatic amendments to the
Sublease provided for in Section 2(b) above.

          5. Subtenant from and after the date hereof shall send a copy of any
notice of default or statement of default under the Sublease to Overlandlord at
the same time such notice or statement is sent to the landlord under the
Sublease.

          6. Subtenant hereby agrees that from and after the date hereof in the
event of any act or omission by the landlord under the Sublease which would give
Subtenant the right, either immediately or after the lapse of a reasonable
period of time, to terminate the Sublease, or to claim a partial or total
eviction, Subtenant will not exercise any such right (i) until it has given
written notice of such act or omission to Overlandlord by delivering such notice
of such act or omission, by certified mail, return receipt requested, addressed
to Overlandlord, at the Overlandlord's address as given herein (Metropolitan
Life Insurance Company, 200 Park Avenue, New York, New York 10166, Attention:
Vice President, Real Estate Investments (EIM), 12th Floor, with a duplicate
thereof, simultaneously being sent by the same mailing procedure to Metropolitan
Life Insurance Company, 200 Park Avenue, New York, New York 10166, Attention:
Attorney-in-Charge, Law/REI 12th Floor, and to Kronish Lieb Weiner & Hellman
LLP, 1114 Avenue of the Americas, New York, New York 10036, Attention: Mark
Lipschutz, Esq.), or at the last address of Overlandlord, furnished to Subtenant
in writing and (ii) until a reasonable period for remedying such act or omission
shall have elapsed following such giving of notice and following the time when
Overlandlord shall have become entitled under the Sublease to remedy the same;
provided that Overlandlord, at its option

                                       I-3
<Page>

shall, following the giving of such notice, have elected to commence and
continue to remedy such act or omission or to cause the same to be remedied.

          7. Subtenant will neither offer nor make prepayment of rent (for a
period in excess of one month) nor further change the terms, covenants,
conditions and agreements of the Subtenant in any manner without the express
consent in writing of the Overlandlord, except for those modifications which
would have been permitted under Article 14 of the Lease had they been made at
the time the Sublease was executed.

          8. No modification, amendment, waiver or release of any provision of
this Agreement or of any right, obligation, claim or clause of action arising
hereunder shall be valid, or binding for any purpose whatsoever unless in
writing and duly executed by the party against whom the same is sought to be
asserted.

          9. This Agreement shall inure to the benefit of the parties hereto,
their successors and assigns; provided, however, that in the event of the
assignment or transfer of the interest of Overlandlord, all obligations and
liabilities of Overlandlord under this Agreement thereafter accruing shall
terminate, and thereupon all such obligations and liabilities shall be the
responsibility of the party to whom Overlandlord's interest is assigned or
transferred; and provided further that the interest of Subtenant under this
Agreement may not be assigned or transferred except in connection with an
assignment permitted under and in accordance with the terms of the Sublease.

          10. Subtenant agrees that this Agreement satisfies any condition or
requirements in the Sublease relating to the granting of a non-disturbance
agreement from the fee owner of the real property of which the Demised Premises
are a part.

          11. In the event that Overlandlord notifies Subtenant of an Event of
Default under the Lease and demands that Subtenant pay its rent and all other
sums due under the Sublease to Overlandlord, Subtenant agrees that it will honor
such demand and pay its rent and all other sums due under the Sublease directly
to the Overlandlord during the continuance of such default.

          12. Subtenant covenants and acknowledges that it has no right or
option of any nature whatsoever, whether pursuant to the Sublease or otherwise,
to purchase the Demised Premises or the real property of which the Demised
Premises are a part, or any portion thereof or any interest therein and to the
extent that Subtenant has, or hereafter acquires any such right or option, the
same is hereby acknowledged to be subject to and subordinate to the Lease and is
hereby waived and released as against Overlandlord.

          13. Overlandlord shall have no obligation, nor incur any liability,
with respect to any warranties of any nature whatsoever, whether pursuant to the
Sublease or otherwise, including, without limitation, any warranties respecting
use, compliance with zoning, title of landlord under

                                       I-4
<Page>

the Sublease, the authority of landlord under the Sublease, habitability,
fitness for purpose and possession.

          14. Anything herein or in the Sublease to the contrary
notwithstanding, Overlandlord shall have no obligation, nor incur any liability,
beyond Overlandlord's then interest, if any, in the fee estate in the Building
and Subtenant shall look exclusively to such interest of Overlandlord, if any,
in the fee estate in the Building for the payment and discharge of any
obligations imposed upon Overlandlord hereunder or under the Sublease and
Overlandlord is hereby released or relieved of any other obligations hereunder
and under the Sublease. Subtenant agrees that with respect to any money judgment
which may be obtained or secured by Subtenant against Overlandlord, Subtenant
shall look solely to the fee estate or interest owned by the Overlandlord in the
Building, and Subtenant will not collect or attempt to collect any such judgment
out of any other assets of Overlandlord.

          15. No disclosed or undisclosed officers, shareholders, principals,
directors, employees, members or servants of Overlandlord shall be personally
liable for the performance of Overlandlord's obligations under this Agreement or
the Sublease. Notwithstanding anything to the contrary contained herein,
Subtenant's sole recourse for the enforcement of Overlandlord's obligations
under the Sublease and this Agreement is to satisfy a judgment for
Overlandlord's failure to perform such obligations shall be against the Building
(or any casualty proceeds or condemnation awards paid to Overlandlord and not
applied to a restoration of the Building), and in no event shall any other
assets of Overlandlord be subject to any claim arising under the Sublease or
this Agreement, except for any claim relating to misappropriation by
Overlandlord of, or fraud by Overlandlord with respect to, any casualty proceeds
disbursed to, received by or otherwise in Overlandlord's custody and control.

                                       I-5
<Page>

     IN WITNESS WHEREOF, the parties hereto have respectively signed and sealed
this Agreement as of the day and year first above written.

                                              METROPOLITAN LIFE INSURANCE
                                              COMPANY

                                              By: /s/ W. Mark Keeney
                                                  ------------------------------
                                              Name:  W. MARK KEENEY
                                              Title: VICE PRESIDENT

                                              THE PORT AUTHORITY OF NEW YORK AND
                                              NEW JERSEY

                                              By: /s/ [ILLEGIBLE]
                                                  ------------------------------
                                              Name:
                                              Title: Director of Real Estate

                                       I-6
<Page>

          Tenant, as landlord under the Sublease and as the tenant under the
Lease, agrees for itself and its successors and assigns, that (i) the within
Agreement does not (a) constitute a waiver by Overlandlord of any of its rights
under the Lease and/or (b) in any way release the Tenant from its obligation to
comply with the terms provisions, conditions, covenants, agreements and clauses
of the Lease, (ii) the provisions of the Lease remain in full force and effect
and must be complied with by Tenant, and (iii) upon the occurrence and
continuance of an Event of Default under the Lease, Subtenant may pay all rent,
additional rents and all other sums due under the Sublease to the Overlandlord
as provided in the within Agreement.

                                              CREDIT SUISSE FIRST BOSTON
                                              (USA), INC.

                                              By: /s/ Andrew B. Federbusch
                                                  ------------------------------
                                              Name : ANDREW B. FEDERBUSCH
                                              Title: MANAGING DIRECTOR

                                       I-7

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