Document:

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                                                                    Exhibit 10.4

       Separation Agreement dated as of April 12, 2001 between Registrant
       and Harold Miltsch

April 12, 2001

Mr. Harold Miltsch
[Address]

Re:  Separation Agreement and Release
     --------------------------------

Dear Harold:

This letter confirms our recent conversations concerning your relinquishing your
duties as Vice President & Chief Marketing Officer of EarthWeb Inc., and sets
forth the agreement that has been reached between EarthWeb Inc., including its
subsidiaries, divisions, affiliates, predecessors, successors and assigns and
its past and present officers, directors, shareholders, counsel, employees,
agents, administrators, representatives, insurers or fiduciaries in their
individual and/or representative capacities (collectively referred to as the
"Company") and you regarding your separation from the Company.

Provided that you abide by the terms of this Agreement and in consideration for
the covenants and agreements herein contained, the Company will pay you a lump
sum on April 15, 2001 of $195,000, less applicable withholding deductions, as
severance

As a key senior executive of the Company, you have been intimately involved in
the management of the business of the Company and in planning and implementing
its business strategies. In the course of your employment with the Company, you
have developed special skills, knowledge and abilities in the Internet field
which are of a uniquely personal nature. You have also acquired detailed
knowledge of the internal operations of the Company and its business and possess
highly confidential information concerning both the U.S. and non-U.S. business
activities of the Company. In addition, you have been afforded the opportunity
to develop special relationships of confidence and trust with the customers,
suppliers, consultants, employees, officers and directors of the Company.

The parties acknowledge and agree that the Company would be unfairly and
irreparably damaged if you were to take any of such skills, knowledge,
information or relationships, which you have acquired and developed during the
course of your employment with the Company, and use them to
<PAGE>

the detriment of the Company, and therefore the provisions of this paragraph are
reasonable, appropriate and necessary for the protection of the Company's
properties, investments, business relationships, economic advantages and good
will. Accordingly, you hereby agree that:

1.       For a period of one (1) year from the date of this Agreement, you will
         not, without the Company's prior written consent, directly or
         indirectly hold an ownership interest in, provide financing for,
         control, manage or operate, or participate in the ownership, control,
         management or operation of, or render services in the capacity of any
         employee, freelancer, consultant, agent, independent sales
         representative or a similar capacity to or for the benefit of any
         publication, product or service which is competitive with any product
         or service of the Company. Notwithstanding anything to the contrary
         contained herein, you shall not be deemed to have breached the
         provisions hereof solely by reason of your ownership of an equity
         interest of less than one-half of one percent (0.5%) in the securities
         of a publicly traded competitive business or an interest in a mutual or
         other investment fund which owns an interest in a competitive business,
         provided that you have no influence or control over such fund's
         investment decisions.

2.       For a period of one (1) year from the date of this Agreement, you will
         not, without the Company's prior written consent, on your own behalf or
         on behalf of any other person or entity, (1) solicit the service of or
         employ any employee of the Company for your own benefit or the benefit
         of any person or entity other than the Company; (2) induce or help to
         induce any such employee to leave employment with the Company for any
         reason; or (3) employ or cause any other person or entity to employ any
         former employee of the Company whose resignation from the Company
         occurred less than six months prior to such employment by you or such
         other person or entity. You may seek a waiver of any provisions of this
         section in writing from the Company.

3.       For a period of one (1) year from the date of this Agreement, you will
         not, without the Company's prior written consent, (1) induce or attempt
         to induce any customer, supplier or contractor of the Company to
         terminate or materially diminish any agreement or arrangement with the
         Company; or (2) induce or attempt to induce any customer, supplier or
         contractor, or any potential customer, supplier or contractor of the
         Company not to enter into any agreement or arrangement with the
         Company.

4.       You will not at any time, either during and after your employment,
         disclose, communicate or divulge, or use for your benefit or the
         benefit of any third party, any of the trade secrets or other
         confidential or proprietary information and materials of the Company,
         including, solely by way of illustration but not of limitation, its
         business strategies, business plans, budgets, pricing, financial data,
         confidential reports, personnel records, credit and financial data
         concerning is suppliers or its present and prospective customers, data
         about competitors, new product-development initiatives, customer
         research and new product or service ideas. Once your employment has
         terminated, you will not retain copies of any confidential information
         or materials of the Company in any form, whether print, electronic or
         otherwise.
<PAGE>

5.       You will not willfully make any oral or written statement which
         reflects adversely upon the character, honesty, credit, efficiency or
         business practices of the Company or its former or current
         stockholders, directors, officers or employees in their capacities as
         such.

6.       Both during and after your employment with the Company you will, if
         requested by the Company from time to time, provide information,
         testimony and assistance in connection with the prosecution of any
         rights or claims by the Company and the defense of any claims against
         the Company arising out of matters of which you acquired knowledge
         while an employee of the Company. You agree to make yourself available
         for such purpose at such times as the Company may reasonably request
         and as do not unreasonably interfere with your other business
         activities or commitments. The Company will pay any reasonable
         out-of-pocket expenses incurred by you in connection with the foregoing
         (upon receipt of written documentation of such expenses). To the extent
         that you indicate in advance that any of the foregoing will
         unreasonably interfere with your other business activities or
         commitments, you and the Company may agree in writing upon terms that
         would reasonably compensate you for such interference.

7.       For a period of one (1) year from the date of this Agreement, you will
         make yourself available to the Company and its designated
         representatives for consultation with respect to the past business and
         affairs of the Company by telephone or in person at such times as the
         Company may reasonably request and as do not unreasonably interfere
         with your other business activities or commitments. The Company will
         pay any reasonable out-of-pocket expenses incurred by you in connection
         with the foregoing (upon receipt of written documentation of such
         expenses). To the extent that you indicate in advance that any of the
         foregoing will unreasonably interfere with your other business
         activities or commitments, you and the Company may agree in writing
         upon terms that would reasonably compensate you for such interference.

8.       You will not willfully take any action materially adverse to the
         interests of the Company, even if such action is in technical
         compliance with the other provisions of this letter, but shall at all
         times conduct yourself in the same manner and with the same degree of
         loyalty to the Company as if you were still an employee and officer of
         the Company.

9.       You will keep this letter strictly confidential and, except as may be
         required by law, you agree not to disclose it or any of its terms or
         conditions to any person other than your legal counsel and financial
         advisors to whom disclosure is necessary to effectuate the purposes of
         your consulting with such advisors, provided that they are informed of
         the confidentiality agreement herein and agree to be bound by it. For
         purposes of the restrictions in this agreement that relate to
         non-competition and non-solicitation, you may provide a summary
         description or excepts of those provisions of the agreement to a
         prospective employer, provided it is informed of the confidentiality
         agreement herein and agrees to be bound by it. In the event that any
         court or agency of competent jurisdiction shall require this Agreement
         to be filed with it, you and the Company shall request that the
         Agreement be filed and maintained under seal.
<PAGE>

10.      You hereby fully release and discharge the Company and its successors
         and assigns from any and all claims, liabilities, obligations, damages,
         losses, costs and expenses, known and unknown, suspected or
         unsuspected, which you have, have had or may hereafter have arising out
         of your employment with the Company, the termination thereof or your
         compensation in connection therewith (other than obligations created
         by, acknowledged in or arising from this agreement), and you hereby
         waive any and all rights to assert against the Company and its
         successors and assigns, any such claims, including, without limitation,
         claims of discrimination (whether based on race, religion, national
         origin, sex, sexual orientation, age, marital status, veteran status,
         handicap, physical or mental disability, or any other cause), wrongful
         discharge, emotional distress, defamation, breach of contract, breach
         of covenant of good faith and fair dealing, claims for wages, bonuses,
         vacation or sick pay or other benefits, and violation of any local,
         state or federal law or regulation. You specifically waive any and all
         rights and claims arising under the federal Age Discrimination in
         Employment Act of 1967 (although such waiver does not apply to rights
         or claims that may arise after the date this Agreement is executed).

11.      You acknowledge and agree that, except as expressly provided herein,
         you will be entitled to no further employment with the Company, and,
         except for the foregoing, you are not entitled to and will not receive
         any additional compensation, payments or benefits of any kind from the
         Company, and that no representations or promises to the contrary have
         been made to you.

12.      This letter sets forth our entire agreement with respect to the subject
         matter thereof and supersedes all prior written or oral agreements
         between you and any representative of the Company on that subject. No
         provision of this agreement may be modified or waived except in a
         writing signed by the party against whom the enforcement of any such
         modification or waiver is sought. If any provision of this agreement is
         prohibited or invalid under any law, such provision shall be
         ineffective to the extent of any prohibition or invalidity, without
         invalidating the remainder of such provision or the other provisions of
         this agreement. This agreement will bind and benefit both parties and
         their respective heirs, executors, administrators, successors and
         assigns. This agreement shall be governed by and construed in
         accordance with the laws of the State of New York without reference to
         its rules regarding choice or conflicts of laws.

13.      You acknowledge that you have read and understand this agreement; that
         you have signed it voluntarily and without coercion; and that the
         waivers you have made in this agreement have been made with full
         appreciation that you will be foreclosed from pursuing the rights so
         waived. You agree that if you assert or attempt to assert any claims or
         rights so waived, you will pay all costs incurred by the Company or its
         employees, including reasonable attorneys' fees and disbursements, in
         defending against such claims.

14.      For a period of seven (7) days following the execution of this
         agreement, you may revoke the agreement by delivering written notice of
         revocation to the Company's Vice President & General Counsel at 3 Park
         Avenue, New York, NY 10016. This agreement will not become effective or
         enforceable until the 7-day revocation period has expired. If the 7-day
         revocation period expires without you having revoked the agreement, the
         agreement becomes effective as of the date executed by both parties. If
         you revoke the agreement, the Company will not be bound by the terms
         set forth above. You understand that your acceptance of any of the
         payments or benefits described herein at any time after you sign this
<PAGE>

         agreement and release confirms that you did not revoke your consent to
         this agreement and release and therefore that it is fully effective and
         enforceable.

Harold, if the above accurately reflects our agreement on this matter, please
sign the attached duplicate of this letter in the space provided below and
return it to me.

Sincerely,

EARTHWEB INC.

By: /s/ Peter A. Derow
   --------------------
Peter A. Derow
CEO & President

AGREED AND ACCEPTED:

/s/ Harold Miltsch
------------------
Harold Miltsch<PAGE>

                                                                    Exhibit 10.5

            Employment Agreement dated as of January 29, 2001 between
            Registrant and Peter A. Derow

                              EMPLOYMENT AGREEMENT
                              --------------------

         THIS AGREEMENT, dated as of January 29, 2001, is between EarthWeb Inc.,
a Delaware corporation (the "Company"), with its principal place of business at
3 Park Avenue, New York, New York, and Peter A. Derow, an individual whose
address is [Address] (the "Employee").

         In consideration of the Company securing the services of the Employee
and the Employee's undertaking employment with the Company, the Company and the
Employee hereby agree to be bound by and comply with the following terms and
conditions and agree as follows:

         Section 1. At-Will Employment. Employee acknowledges and agrees that
his employment status is that of an employee-at-will and that Employee's
employment may be terminated by the Company or the Employee at any time with or
without cause, subject to the terms and conditions in the Addendum hereto.

         Section 2. Compensation. In consideration of the services to be
rendered hereunder, the Employee shall be paid in accordance with the Addendum
hereto.

         Section 3. Employee Inventions and Ideas.

         (a) The Employee will maintain current and adequate written records on
the development of, and disclose to the Company, all Inventions (as defined
herein). "Inventions" shall mean all ideas, potential marketing and sales
relationships, inventions, copyrightable expression, research, plans for
products or services, marketing plans, computer software (including, without
limitation, source code), computer programs, original works of authorship,
characters, know-how, trade secrets, information, data, developments,
discoveries, improvements, modifications, technology, algorithms and designs,
whether or not subject to patent or copyright protection, made, conceived,
expressed, developed, or actually or constructively reduced to practice by the
Employee solely or jointly with others during the term of the Employee's
employment with the Company, which refer to, are suggested by, or result from
any work which the Employee may do during his employment, or from any
information obtained from the Company or any affiliate of the Company.

         (b) The Inventions shall be the exclusive property of the Company, and
the Employee acknowledges that all of said Inventions shall be considered as
"work made for hire" belonging to the Company. To the extent that any such
Inventions, under applicable law, may not be considered work made for hire by
the Employee for the Company, the Employee hereby agrees to assign and, upon its
creation, automatically and irrevocably assigns to the Company, without any
further consideration, all right, title and interest in and to such materials,
including, without limitation, any copyright, other intellectual property
rights, moral rights, all contract and licensing rights, and all claims and
causes of action of any kind with respect to such materials. The Company shall
have the exclusive right to use the Inventions, whether original or derivative,
<PAGE>

for all purposes without additional compensation to the Employee. At the
Company's expense, the Employee will assist the Company in every proper way to
perfect the Company's rights in the Inventions and to protect the Inventions
throughout the world, including, without limitation, executing in favor of the
Company or any designee(s) of Company patent, copyright, and other applications
and assignments relating to the Inventions. The Employee agrees not to challenge
the validity of the ownership by the Company or its designee(s) in the
Inventions.

         (c) Should the Company be unable to secure the Employee's signature on
any document necessary to apply for, prosecute, obtain, or enforce any patent,
copyright, or other right or protection relating to any Invention, whether due
to the Employee's mental or physical incapacity or any other cause, the Employee
hereby irrevocably designates and appoints the Company and each of its duly
authorized officers and agents as the Employee's agent and attorney in fact, to
act for and in the Employee's behalf and stead and to execute and file any such
document, and to do all other lawfully permitted acts to further the
prosecution, issuance, and enforcement of patents, copyrights, or other rights
or protections with the same force and effect as if executed and delivered by
the Employee.

         Section 4. Proprietary Information.

         (a) The Employee will not disclose or use, at any time either during or
after the term of employment, except at the request of the Company or an
affiliate of the Company, any Confidential Information (as herein defined).
"Confidential Information" shall mean all Company proprietary information,
technical data, trade secrets, and know-how, including, without limitation,
research, product plans, customer lists, customer preferences, marketing plans
and strategies, software, development, inventions, discoveries, processes,
ideas, formulas, algorithms, technology, designs, drawings, business strategies
and financial data and information, including, but not limited to Inventions,
whether or not marked as "Confidential." "Confidential Information shall also
mean any and all information received by the Company from customers, vendors and
independent contractors of the Company or other third parties subject to a duty
to be kept confidential.

         (b) The Employee hereby acknowledges and agrees that all personal
property, including, without limitation, all books, manuals, records, reports,
notes, contracts, lists, blueprints, and other documents, or materials, or
copies thereof, Confidential Information as defined in Section 4(a) above, and
equipment furnished to or prepared by the Employee in the course of or incident
to his employment, including, without limitation, records and any other
materials pertaining to Inventions, belong to the Company and shall be promptly
returned to the Company upon termination of employment. Following termination,
the Employee will not retain any written or other tangible or electronic
material containing any Confidential Information or information pertaining to
any Invention.

         Section 5. Limited Agreement Not to Compete.

         (a) While employed by the Company and for a period of nine (9) months
after the termination of the Employee's employment with the Company, the
Employee shall not, directly or indirectly, as an employee, employer,
consultant, agent, principal, partner, manager, stockholder, officer, director,
or in any other individual or representative capacity, engage or participate in
any business that is competitive with the business of the Company.
<PAGE>

Notwithstanding the foregoing, the Employee may own less than two percent (2%)
of any class of stock or security of any corporation, which competes with the
Company listed on a national securities exchange.

         (b) While employed by the Company and for a period of twelve (12)
months after the termination of the Employee's employment with the Company, the
Employee shall not, directly or indirectly, solicit for employment any person
who was employed by the Company at the time of the Employee's termination from
the Company.

         Section 6. Company Resources. Other than incidental personal use, the
Employee may not use any Company equipment for personal purposes without written
permission from the Company. The Employee may not give access to the Company's
offices or files to any person not in the employ of the Company without written
permission of the Company.

         Section 7. Post-Termination Period. Because of the difficulty of
establishing when any idea, process or invention is first conceived or developed
by the Employee, or whether it results from access to Confidential Information
or the Company's equipment, facilities, and data, the Employee agrees that any
idea, invention, research, plan for products or services, marketing plan,
computer software (including, without limitation, source code), computer
program, original work of authorship, character, know-how, trade secret,
information, data, developments, discoveries, technology, algorithm, design,
patent or copyright, or any improvement, rights, or claims relating to the
foregoing, shall be presumed to be an Invention if it is conceived, developed,
used, sold, exploited or reduced to practice by the Employee or with the aid of
the Employee within one (1) year after termination of employment. The Employee
can rebut the above presumption if he proves the idea, process or invention (i)
was first conceived or developed after termination of employment, (ii) was
conceived or developed entirely on the Employee's own time without using the
Company's equipment, supplies, facilities, personnel or Confidential
Information, and (iii) did not result from or is not derived directly or
indirectly, from any work performed by the Employee for the Company or from work
performed by another employee of the Company to which the Employee had access.

         Section 8. Injunctive Relief. The Employee agrees that the remedy at
law for any breach of the provisions of Section 4, Section 4 or Section 5 of
this Agreement shall be inadequate, the Company will suffer immediate and
irreparable harm, and the Company shall be entitled to injunctive relief in
addition to any other remedy at law which the Company may have.

         Section 9. Severability. In the event any of the provisions of this
Agreement shall be held by a court or other tribunal of competent jurisdiction
to be unenforceable, the other provisions of this Agreement shall remain in full
force and effect.

         Section 10. Survival. Sections 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12
and 14 and the Addendum survive the termination of this Agreement.

         Section 11. Representations and Warranties. The Employee represents and
warrants that the Employee is not under any obligation to any third party which
could interfere with the Employee's performance under this Agreement, and that
the Employee's performance of his obligations to the Company during the term of
his employment with the Company will not breach any agreement by which the
Employee is bound not to disclose any proprietary
<PAGE>

information including, without limitation, that of former employers; provided
that notwithstanding the foregoing, in the event employee determines that an
action which the Company requests him to pursue would cause him to violate any
such agreement, so informs the Company, and the Company instructs him to proceed
with such action, Employees proceeding with such action shall not be deemed to
be a violation of this representation and warranty.

         Section 12. Governing Law. The validity, interpretation,
enforceability, and performance of this Agreement shall be governed by and
construed in accordance with the laws of the State of New York without giving
effect to its conflict of law rules.

         Section 13. Not Used.

         Section 14. General. This Agreement supersedes and replaces any
existing agreement between the Employee and the Company relating generally to
the same subject matter, and may be modified only in a writing signed by the
parties hereto. Failure to enforce any provision of the Agreement contains the
entire agreement between the parties with respect to the subject matter herein.
The Employee agrees that he will not assign, transfer, or otherwise dispose of,
whether voluntarily or involuntarily, or by operation of law, any rights or
obligations under this Agreement. Any purported assignment, transfer, or
disposition shall be null and void. Nothing contained in this Agreement shall
prevent the consolidation of the Company with, or its merger into, any other
corporation, or the sale by the Company of all or substantially all of its
properties or assets, or the assignment by the Company of this Agreement and the
performance of its obligations hereunder. Subject to the foregoing, this
Agreement shall be binding upon and shall inure to the benefit of the parties
and their respective heirs, legal representatives, successors, and permitted
assigns, and shall not benefit any person or entity other than those enumerated.

         Section 15. Employee Acknowledgment. The Employee acknowledges (i) that
he has consulted with or has had the opportunity to consult with independent
counsel of his own choice concerning this Agreement and has advised to do so by
the Company, and (ii) that he has read and understands the Agreement, is fully
aware of its legal effect, and has entered into it freely based on his own
judgment.

AGREED TO BY:

EARTHWEB INC.                                        Peter A. Derow

Sign: /s/ Brian Campbell                             Sign: /s/Peter A. Derow
      ------------------                                   -----------------

          Addendum to Employment Agreement - Peter A. Derow (Employee)
          ------------------------------------------------------------

Section 1

Title and Job Description. The Employee shall be employed as President and Chief
Executive Officer of the Company. In such capacity, the Employee shall be
responsible for the day-to-day operation of the Company and any other
responsibilities reasonably assigned by the Company
<PAGE>

from time to time. The Employee shall report to the Board of Directors of the
Company (the "Board") and shall serve as a Director on the Board.

The Employee shall be located in EarthWeb's New York offices currently located
in New York City or within 40 miles of New York City.

Section 2

Compensation. In consideration of the services to be rendered hereunder: the
Employee shall be paid an annual base salary of $300,000 per year (prorated for
calendar year 2001) plus a bonus to be determined by the Board of Directors.

The Employee shall receive 393,303 stock options ("Stock Options") to be granted
on the administration date following the initial date of the Employee's
employment with the Company, made pursuant to the terms and conditions of
EarthWeb's 1998 Stock Incentive Plan (the "Stock Option Plan") and
option-granting documents and subject to approval by the Board. The Stock
Options shall vest ratably on a monthly basis over a three-year period.

The Employee shall be eligible for all employee benefits under the Company's
benefit plans in effect from time to time, including health, life, dental,
vision, short-term disability, 401(k) Plan, and Employee Stock Purchase Plan.
The Employee shall be entitled to four weeks of vacation per year.

The Employee's compensation shall be reviewed on at least an annual basis.

Section 3

Severance. In lieu of any severance pay or severance benefits otherwise payable
to the Employee under any plan, policy, program or arrangement of the Company or
its subsidiaries, the following shall apply:

(a) If there is a Termination (as herein defined) of the Employee's employment
with the Company at any time prior to a "Change of Control" (as defined herein)
without "Cause" (as defined herein), the Employee shall be entitled to receive a
lump-sum severance payment equal to (i) one hundred percent (100%) of his then
current annual salary plus (ii) the amount of his then current target bonus. The
Employee is then entitled to accelerated vesting with respect to twenty-five
(25%) of his then unvested Stock Options.

(b) If there is a Termination of the Employee's Employment with the Company
following a Change of Control, the Employee shall be entitled to receive a
lump-sum severance payment equal to (i) one hundred percent (100%) of his then
current annual salary plus (ii) the amount of his then current bonus target. All
outstanding Stock Options granted to the Employee which are not vested and
exercisable as of the date of Termination shall become vested and exercisable as
of such date and remain exercisable for the periods prescribed in the Stock
Option Plan.

(c) The Employee, such Employee's spouse and eligible dependents will continue
to be provided with medical and dental benefits for the twelve (12)-month period
following such Employee's Termination on the same basis as provided to active
employees of the Company.
<PAGE>

Following such twelve (12)-month period, the Employee, such Employee's spouse
and eligible dependents will begin eligibility for continuation of medical and
dental coverage in accordance with Section 4980B of the Internal Revenue Code of
1986, as amended (the "Code"). The Employee shall have no duty to mitigate
damages by seeking other employment. The Company shall have no right to offset
hereunder with respect to any compensation or benefits received by the Employee
from or in connection with any employment subsequent to such Employee's
Termination of employment with the Company.

Section 4

Definitions.
-----------

(a)           For purposes of this Employment Agreement only, a "Change of
              Control" of the Company shall be deemed to have occurred if at any
              time on or after the date of the Employment Agreement one or more
              of the following events shall have occurred:
              (i)    the direct or indirect acquisition by any person or related
                     group of persons (other than an acquisition from or by the
                     Company or by a Company-sponsored employee benefit plan or
                     by a person that directly or indirectly controls, is
                     controlled by, or is under common control with, the
                     Company) of beneficial ownership (within the meaning of
                     Rule 13d-3 of the Securities Exchange Act of 1934, as
                     amended (the "Exchange Act")) of securities possessing more
                     than fifty percent (50%) of the total combined voting power
                     of the Company's outstanding securities; or
              (ii)   any stockholder-approved transfer or other disposition of
                     all or substantially all of the Company's assets; or
              (iii)  the Company adopts any plan of liquidation providing for
                     the distribution of all or substantially all of its assets;
                     or
              (iv)   the consummation by the Company of a reorganization, merger
                     or consolidation or sale or other disposition of all or
                     substantially all of the assets of the Company or the
                     acquisition of assets or stock of another corporation (a
                     "Business Combination"), in each case, unless, following
                     such Business Combination, (a) all or substantially all of
                     the individuals and entities who were the beneficial
                     owners, respectively, of the outstanding common stock and
                     outstanding company voting securities immediately prior to
                     such Business Combination beneficially own, directly or
                     indirectly, more than 60% of, respectively, the then
                     outstanding shares of common stock and the combined voting
                     power of the then outstanding voting securities entitled to
                     vote generally in the election of directors, as the case
                     may be, of the corporation resulting from such Business
                     Combination (including, without limitation, a corporation
                     which as a result of such transaction owns the Company or
                     all or substantially all of the Company's assets either
                     directly or through one or more subsidiaries) in
                     substantially the same proportions as their ownership,
                     immediately prior to such Business Combination of the
                     outstanding Company common stock and outstanding Company
                     voting securities, as the case may be, (b) no person
                     (excluding any corporation resulting from such Business
                     Combination or any employee benefit plan (or related trust)
                     of the Company or such corporation resulting from such
                     Business Combination) beneficially owns, directly or
                     indirectly, 20% or more of, respectively, the then
                     outstanding shares of common stock of the corporation
                     resulting from such Business Combination or
<PAGE>

                     the combined voting power of the then outstanding voting
                     securities of such corporation except to the extent that
                     such ownership existed prior to the Business Combination
                     and (c) at least a majority of the members of the board of
                     directors of the corporation resulting from such Business
                     Combination were members of the incumbent board at the time
                     of the execution of the initial agreement, or of the action
                     of the board of directors, providing for such Business
                     Combination; or
              (v)    a change in the composition of the Board over a period of
                     thirty-six (36) months or less such that a majority of the
                     Board members (rounded up to the next whole number) ceases,
                     by reason of one or more contested elections for Board
                     membership, to be comprised of individuals who are
                     continuing directors.

(b)           For purposes of this Employment Agreement only, "Cause" shall mean
              (i) embezzlement by the Employee, (ii) misappropriation by the
              Employee of funds of the Company, (iii) conviction of a felony,
              (iv) commission of any other act of dishonesty which causes
              material economic harm to the Company, (v) acts of fraud or deceit
              by the Employee which causes material economic harm to the
              Company, (vi) material breach of any provision of the Employment
              Agreement by the Employee, (vii) willful failure by the Employee
              to substantially perform such Employee's duties hereunder, (viii)
              willful breach of fiduciary duty by the Employee to the Company
              involving personal profit or (ix) significant violation of Company
              policy of which the Employee is made aware (or such Employee
              should reasonably be expected to be aware) or other contractual,
              statutory or common law duties to the Company. No act, or failure
              to act on the part of the Employee, shall be deemed willful unless
              it is done, or omitted to be done, by the Employee in bad faith or
              without reasonable belief that the Employee's action or omission
              was in the best interests of the Company.

(c)           For purposes of this Employment Agreement only, "Good Reason"
              shall mean (i) a diminution in the responsibilities, title, duties
              and reporting lines of the Employee compared to those existing
              immediately prior to a Change of Control, (ii) a reduction in
              salary, incentive compensation and other employee benefits of the
              Employee compared to those existing immediately prior to the
              Change of Control, (iii) relocation of the Employee to an office
              more than 40 miles from the principal office at which the Employee
              is employed immediately prior to the Change of Control, (iv) any
              breach by the Company of the Employment Agreement or (v) the
              failure of any successor to assume, in writing, all obligations
              under the Employment Agreement.

(d)           For purposes of this Employment Agreement only, "Termination"
              shall mean termination of the Employee's employment without Cause
              or by the Employee for Good Reason.

Section 5

Excise Tax. In the event that the Employee becomes entitled to the payments and
benefits provided in Section 3 (the "Severance Payments") of this Addendum to
the Employment Agreement, if any of the Severance Payments will be subject to
the excise tax (the "Excise Tax") imposed under Section 4999 of the Code, the
Company shall pay to the Employee an additional amount (the "Gross-Up Payment")
such that the net amount retained by the Employee, after deduction of any Excise
Tax on the Severance Payments and any Federal, state and local income
<PAGE>

and employment tax and Excise Tax upon the payments and benefits provided for by
Section 5 of this Addendum to the Employment Agreement, shall be equal to the
Severance Payments. For purposes of determining whether any of the Severance
Payments will be subject to the Excise Tax and the amount of such Excise Tax,
(i) any other payments or benefits received or to be received by the Employee in
connection with a change in ownership or control (within the meaning of section
280G of the Code and the regulations promulgated thereunder) of the Company or
the Employee's termination of employment by the Company without Cause or by the
Employee for Good Reason (whether pursuant to the terms of the Employment
Agreement or any other plan, arrangement or agreement with the Company, any
person whose actions result in a change of control or any person affiliated with
the Company or such person) shall be treated as "parachute payments" within the
meaning of section 280G(b)(2) of the Code, and all "excess parachute payment"
within the meaning of section 280G(b)(1) of the Code shall be treated as subject
to the Excise Tax, unless in the opinion of tax counsel selected by the
Company's' independent auditors and reasonably acceptable to the Employee such
other payments or benefits (in whole or in part) do not constitute parachute
payments, including by reason of Section 280G(b)(4)(A) of the Code, or such
excess parachute payments (in whole or in part) represent reasonable
compensation for services actually rendered, within the meaning of section
280G(b)(4)(B) of the Code, in excess of the "base amount" allocable to such
reasonable compensation, or are otherwise not subject to the Excise Tax, (ii)
the amount of the Severance Payments which shall be treated as subject to the
Excise Tax shall be equal to the lesser of (A) the total amount of the Severance
Payments or (B) the amount of excess parachute payments within the meaning of
section 280G(b)(1) of the Code (after applying clause (i), above), and (iii) the
value of any non-cash benefits or any deferred payment or benefit shall be
determined by the Company's independent auditors in accordance with the
principles of sections 280G(d)(3) and (4) of the Code. For purposes of
determining the amount of the Gross-Up Payment, the Employee shall be deemed to
pay Federal income taxes at the highest marginal rate of Federal income taxation
in the calendar year in which the Gross-Up Payment is to be made and state and
local income taxes at the highest marginal rate of taxation in the state and
locality of the Employee's residence on the date of termination, net of the
maximum reduction in Federal income taxes which could be obtained from the
deduction of such state and local taxes.

Section 6

All amounts payable hereunder shall be subject to and paid net of, all required
withholding taxes.

AGREED TO BY:

EARTHWEB INC.                                        Peter A. Derow

Sign: /s/ Brian Campbell                             Sign: /s/Peter A. Derow
      ------------------                                   -----------------

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