Document:

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                                                                  Exhibit 10.17

                            FORM OF ESCROW AGREEMENT

         THIS ESCROW AGREEMENT, dated as of __________, [ ], 2000 (this "Escrow
Agreement"), is by and among Wit Capital Group, Inc., a corporation organized
under the laws of Delaware ("Parent "), E*TRADE Group, Inc. as the agent (the
"Shareholders' Agent") of the shareholders (the "Shareholders") of E*OFFERING
Corp., a California corporation (the "Company"), and [ ] as escrow agent (the
"Escrow Agent").

         Pursuant to the Agreement and Plan of Merger, dated as of May [ ], 2000
(the "Merger Agreement"), by and among Parent, Wit SoundView Corp., a
corporation organized under the laws of the State of Delaware ("Merger Sub"),
and the Company, the Company has been merged with and into Merger Sub (the
"Merger"). Capitalized terms not otherwise defined in this Escrow Agreement have
the meanings ascribed to them in the Merger Agreement.

         Pursuant to Section 10.1 of the Merger Agreement, [ ] shares of common
stock, $0.01 par value per share, of Parent (the "Escrow Shares") are being
deposited by Wit Capital Group, Inc. into the Escrow Fund established hereunder
on behalf of the Shareholders to provide for the indemnification of the
Indemnified Persons (as defined in the Merger Agreement) under Article X of the
Merger Agreement. The Final Allocation Schedule delivered by the Shareholders'
Agent pursuant to Section 4.1 of the Merger Agreement, a copy of which is
attached, sets forth the name of each Shareholder and the number of Escrow
Shares initially being deposited on each Shareholder's behalf.

         NOW THEREFORE, the parties hereto agree as follows:

         1. ESTABLISHMENT OF ESCROW. Parent has delivered to the Escrow Agent
and the Escrow Agent acknowledges receipt of the Escrow Shares in the form of a
single stock certificate registered in the name of the nominee of the Escrow
Agent [   ]. The Escrow Agent shall hold the Escrow Shares, and any dividends or
other distributions on the Escrow Shares and other securities or property into
which the Escrow Shares may be converted or reclassified into or exchanged for,
in escrow, in its name or the name of its nominee, in accordance with this
Escrow Agreement. The Escrow Shares shall not be subject to any lien,
attachment, trustee process or any other judicial process of any creditor of any
party hereto.
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         The Escrow Agent shall have no responsibility for the genuineness,
validity, market value, title or sufficiency for any intended purpose of the
Escrow Shares. The Escrow Agent shall be under no obligation to preserve,
protect or exercise rights in the Escrow Shares, and shall be responsible only
for reasonable measures to maintain the physical safekeeping thereof, and
otherwise to perform and observe such duties on its part as are expressly set
forth in this Agreement; except that the Escrow Agent shall, at the written
request of the Shareholders' Agent given to the Escrow Agent at least three (3)
business days prior to the date on which the Escrow Agent is requested therein
to take any action, deliver to the Shareholders' Agent a duly executed proxy or
other instrument in the form supplied to it by the Shareholders' Agent for
voting or otherwise exercising any right of consent with respect to any of the
Escrow Shares held by it hereunder, which proxy or other instrument shall
authorize the Shareholders' Agent to exercise such voting or consent authority
in respect of the Escrow Shares. The Escrow Agent shall not be responsible for
forwarding to any party, notifying any party with respect to, or taking any
action with respect to, any notice, solicitation or other document or
information, written or otherwise, received from Parent or other person with
respect to the Escrow Shares, including but not limited to, proxy material,
tenders, options, the pendency of calls and maturities and expiration of rights.

         2. DIVIDENDS AND DISTRIBUTIONS ON ESCROW SHARES. Until distributed
pursuant to the last paragraph of this Section 2, (a) the Escrow Agent shall
invest all cash dividends and other cash distributions, if any, on the Escrow
Shares (such cash dividends and other cash distributions are referred to herein
as the "Escrow Funds") at, and pursuant to, the written direction of the
Shareholders' Agent in Eligible Investments (as defined below) (including any
interest earned thereon) and shall not be responsible or liable for any loss
accruing from any investment made in accordance herewith and (b) the Escrow
Agent shall hold any noncash dividends and other noncash distributions on the
Escrow Shares.

         "Eligible Investments" means (a) obligations issued or guaranteed by
the United States of America or any agency or instrumentality thereof (provided
that the full faith and credit of the United States is pledged in support of
interest and principal thereto); (b) obligations (including certificates of
deposit and banker's acceptances) of any domestic commercial bank having capital
and surplus in excess of $500,000,000; (c) repurchase obligations for underlying
securities of the type described in clause (a); or (d) shares of any registered
money market fund at least 95% of the assets of which constitute obligations of
the type described in clause (a) above. No investment shall have a term of more
than 30 days. If otherwise qualified, obligations of the Escrow Agent shall
qualify as Eligible Investments.

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         Absent its timely receipt of such specific written investment
instruction from the Shareholders' Agent, the Escrow Agent shall have no
obligation or duty to invest (or otherwise pay interest on) the Escrow Funds.
All earnings received from the investment of the Escrow Funds shall be credited
to, and shall become a part of, the Escrow Funds (and any losses on such
investments shall be debited to the Escrow Funds). The Escrow Agent shall have
no liability for any investment losses, including any losses on any investment
required to be liquidated prior to maturity in order to make a payment required
hereunder.

         3. TAX TREATMENT AND ALLOCATION. Dividends and other distributions on
the Escrow Shares, Escrow Funds and earnings thereon will be allocable for tax
purposes to the Shareholders in proportion to their respective Escrow Shares at
the time of such allocation and the Shareholders will include any such
allocations constituting income in their gross income for federal, state and
local income tax purposes and pay any tax resulting therefrom. The Shareholders'
Agent shall use his reasonable best efforts to provide the Escrow Agent with a
certified tax identification number for each Shareholder by arranging for
execution and return of a Form W-9 (or Form W-8, in the case of non-U.S.
persons) to the Escrow Agent prior to the date on which any such allocation is
made. The parties hereto acknowledge that in the event that the Shareholders'
tax identification numbers are not certified to the Escrow Agent, the Escrow
Agent may be required to withhold a portion of any interest or other income
earned on the Escrow Funds. The Escrow Agent will be permitted to withhold and
pay to the appropriate taxing authority any amount of the Escrow Shares, Escrow
Funds and earnings thereon that the Escrow Agent in its determination believes
is required to be withheld and paid to the applicable taxing authority.

         4. TAX INDEMNIFICATION. Each Shareholder: (i) assumes any and all
obligations imposed now or hereafter by any applicable tax law with respect to
any payment or distribution of the Escrow Funds, or performance of other
activities under this Escrow Agreement, with respect to the Shareholder's Escrow
Shares; (ii) shall instruct the Escrow Agent in writing with respect to the
Escrow Agent's responsibility for withholding and other taxes, assessments or
other governmental charges, and instruct the Escrow Agent with respect to any
certifications and governmental reporting that may be required under any laws or
regulations that may be applicable in connection with its acting as Escrow Agent
under this Escrow Agreement with respect to the Shareholder's Escrow Shares; and
(iii) shall indemnify and hold the Escrow Agent harmless from any liability or
obligation on account of taxes, assessments, additions for late payment,
interest, penalties, expenses and other governmental charges that may be
assessed or asserted against the Escrow Agent in connection with or relating to
any payment made or other activities performed under this Escrow Agreement with
respect to the Shareholder's Escrow Shares, including

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without limitation any liability for the withholding or deduction of (or the
failure to withhold or deduct) the same, and any liability for failure to obtain
proper certifications or to report properly to governmental authorities in
connection with this Escrow Agreement, including costs and expenses (including
reasonable legal fees and expenses), interest and penalties.

         5. CLAIMS AGAINST ESCROW SHARES.

         At any time or times prior to the Expiration Date (as defined in
Section 7 of this Escrow Agreement), Parent may make claims against the Escrow
Shares for amounts potentially eligible for indemnification under Section 10.2
of the Merger Agreement by delivering to the Escrow Agent an Officer's
Certificate prepared in accordance with Section 10.4 of the Merger Agreement,
with a copy delivered at the same time to the Shareholders' Agent. Upon the
earliest of: (i) receipt of written authorization from the Shareholders' Agent
or from the Shareholders' Agent jointly with Parent to make such delivery, (ii)
receipt of written notice of a final decision in arbitration of the claim, (iii)
in the event the claim set forth in the Officer's Certificate is uncontested by
the Shareholders' Agent, in accordance with Section 10.5 of the Merger
Agreement, and if the aggregate amount of undisputed claims exceeds $3,000,000,
each such undisputed claim shall be deemed to have been acknowledged to be
payable from the Escrow Shares in the full amount of the Damages (as defined in
the Merger Agreement) set forth in the Officer's Certificate, and the Escrow
Agent shall pay such amount to Parent as soon as practicable after expiration of
the (twenty) 20 business day dispute period provided for in Section 10.5 of the
Merger Agreement. The Escrow Agent shall effect such payment of Escrow Shares to
Parent by surrendering the certificate representing the Escrow Shares to
Parent's transfer agent for cancellation with instructions to issue a new
certificate to the Escrow Agent for the number of Escrow Shares remaining after
giving effect to such payment and a certificate to Parent for the number of
Escrow Shares constituting such payment. If the amount of the claim exceeds the
aggregate value of the Escrow Shares, none of the Escrow Agent, the
Shareholders' Agent, the Shareholders or any Company Indemnified Person shall
have liability or responsibility for any deficiency. For purposes of determining
how many Escrow Shares shall be delivered in satisfaction of any claim, each
Escrow Share shall have a value equal to the average of the closing prices for
the common stock of Parent as reported for the primary trading session
(currently ending at 4:00 p.m. on the Nasdaq National Market) during the period
comprised of ten (10) consecutive trading days ending on the trading day two
business days preceding delivery of the Escrow Shares to Parent in satisfaction
of such claim (the "Escrow Share Value"). The number of Escrow Shares to be paid
to Parent by the Escrow Agent shall be calculated by dividing the amount of the
Damages to which such claim relates by the Escrow Share Value. Any payment to
Parent shall reduce the number of Escrow Shares in which

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the Shareholder or Shareholders obligated to make such payment have an interest.
All claims paid out of the Escrow Shares shall be rounded to the nearest whole
share. If the shares of Parent common stock originally constituting the Escrow
Shares are converted or reclassified into or exchanged for any other securities
or property, the foregoing claim and payment provisions shall apply to such
other security or property. To the extent that the Escrow Agent is required to
deliver Escrow Shares to Parent under this Agreement, it shall deliver such
Escrow Shares based on the respective ownership of the Escrow Shares among the
shareholder parties.

         6. DISPUTED CLAIMS.

         The Shareholders' Agent may dispute any claim set forth on an Officer's
Certificate by giving written notice thereof to Parent and the Escrow Agent
within twenty (20) business days after the date Parent delivered the Officer's
Certificate to the Escrow Agent with a copy thereof to the Shareholder's Agent.
If the Shareholders' Agent disputes a claim, the Escrow Agent shall
provisionally allocate that portion of the Escrow Shares equal to 105% of the
amount of the Damages set forth in the copy of the Officer's Certificate (the
"Set Aside Amount") divided by the Escrow Share Value on the date such notice of
dispute is received and shall adjust the number of allocated Escrow Shares at
least once each quarter prior to resolution of such dispute. No distribution of
Escrow Shares allocated to a Set Aside Amount shall be made by the Escrow Agent
to Parent or to the Shareholders until such disputed claim has been resolved as
evidenced by a written notice executed by Parent and the Shareholders' Agent or
a court or arbitrator instructing the Escrow Agent as to the distribution of the
Escrow Shares allocated to such Set Aside Amount or portion thereof.

         7. TERMINATION

         On _______ [ ], 2001, (the "Expiration Date"), the Escrow Agent shall
deliver the remaining Escrow Shares to the Shareholders according to their
respective Escrow Shares then held in escrow, provided that the Escrow Agent
shall retain and continue to hold in escrow all Escrow Shares then allocated to
Set Aside Amounts until such time or time as such Escrow Shares may be
distributed pursuant to Section 6. This Escrow Agreement shall terminate upon
the later of the Expiration Date or the distribution of all the Escrow Shares in
accordance with this Escrow Agreement, provided that Section 4 shall survive
termination of this Escrow Agreement.

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         8. THE ESCROW AGENT.

                  (1) Notwithstanding anything herein to the contrary, the
Escrow Agent shall dispose of all or any part of the Escrow Shares as directed
by a writing jointly signed by the Shareholders' Agent and Parent within two (2)
business days of receipt of such notice. The reasonable fees and expenses of the
Escrow Agent in connection with the preparation of this Escrow Agreement and its
execution and performance of this Escrow Agreement as set forth on SCHEDULE II
hereto shall be borne out of the Escrow Shares. The Escrow Agent shall not be
liable for any act or failure to act under this Escrow Agreement, including any
and all claims made against the Escrow Agent as a result of its holding the
Escrow Shares or Escrow Funds in its own name, except for its own negligence,
bad faith or willful misconduct. Subject to the foregoing, the Escrow Agent
shall not be liable for, and Parent and the Shareholders shall, jointly and
severally, indemnify and hold harmless the Escrow Agent and its directors,
employees, officers, agents, successors and assigns against any losses or claims
(including reasonable out-of-pocket expenses and attorney fees) arising out of
any action taken or omitted hereunder and reasonable costs of investigation and
counsel fees and expenses which may be imposed on the Escrow Agent or reasonably
incurred by it in connection with its acceptance of this appointment or
performance of its duties hereunder. The Escrow Agent may decline to act and
shall not be liable for failure to act if in doubt as to its duties under this
Escrow Agreement. The Escrow Agent may act upon any instrument or signature
(including wire transfer instructions) believed by it to be genuine and may
assume that any person purporting to give any notice or instruction hereunder,
believed by it to be authorized, has been duly authorized to do so. The Escrow
Agent's duties shall be determined only with reference to the express duties set
forth in this Escrow Agreement, each of which duties are ministerial in nature,
and applicable law and the Escrow Agent shall not be deemed to be a fiduciary
and is not charged with knowledge of or any duties or responsibilities in
connection with any other document or agreement, including without limitation,
the Merger Agreement; and the parties hereto agree that the use of defined terms
incorporated by reference to the Merger Agreement is solely for the convenience
of the other parties and the Escrow Agent may rely on the use of defined terms
in any communication received by it. In no event will the Escrow Agent be liable
for punitive, special or consequential damages or losses (including lost
profits) whatsoever, even if the Escrow Agent has been informed of the
likelihood of such damages or losses.

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                  (2) The Escrow Agent shall have the right at any time to
resign hereunder by giving written notice of its resignation to the parties
hereto, at the addresses set forth herein or at such other address as the
parties shall provide, at least thirty days prior to the date specified for such
resignation to take effect. In such event Parent shall with the approval of the
Shareholders' Agent, which approval shall not be unreasonably withheld, appoint
a successor escrow agent within that thirty-day period; if Parent does not
designate a successor escrow agent within such period, the Escrow Agent may
appoint a successor escrow agent. Upon the effective date of such resignation,
the Escrow Shares and Escrow Fund then held by the Escrow Agent hereunder shall
be delivered by it to such successor escrow agent or as otherwise shall be
designated in writing by Parent and the Shareholders' Agent. If no successor
escrow agent is appointed as provided herein, the Escrow Agent may apply to a
court of competent jurisdiction for appointment of a successor escrow agent.

                  (3) In the event that the Escrow Agent should at any time be
(i) confronted with inconsistent or conflicting claims or demands by the other
parties hereto or (ii) unsure of its duties hereunder, the Escrow Agent shall
have the right to inter plead the parties in any Delaware court or any court of
competent jurisdiction and request that such court determine the respective
rights of the parties with respect to this Escrow Agreement and, upon doing so,
the Escrow Agent shall be released from any obligations or liability to the
other parties as a consequence of any such claims or demands. The Escrow Agent
may consult counsel satisfactory to it, including in-house counsel, and will be
protected in respect of any action taken or omitted in reliance thereon.

                  (4) The Escrow Agent may execute any of its powers or
responsibilities hereunder and exercise any rights hereunder, either directly or
by or through its agents or attorneys. Nothing in this Escrow Agreement shall be
deemed to impose upon the Escrow Agent any duty to qualify to do business in any
jurisdiction other than Delaware or to act as fiduciary. The Escrow Agent shall
not be responsible for and shall not be under a duty to examine, inquire into or
pass upon the validity, binding effect, execution or sufficiency of this Escrow
Agreement or of any amendment or supplement hereto.

         9. SHAREHOLDERS' AGENT.

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         The Shareholders' Agent represents and warrants to Parent and the
Escrow Agent that he is authorized to execute this Escrow Agreement for and on
behalf of the Shareholders and to take any action deemed by him appropriate or
necessary to carry out the provisions of, and to determine the rights of the
Shareholders under, the Merger Agreement and this Escrow Agreement. The
Shareholders' Agent shall serve as the agent of the Shareholders for all
purposes related to this Escrow Agreement, including without limitation service
of process upon the Shareholders. By execution of this Escrow Agreement, the
Shareholders' Agent accepts and agrees to use his best efforts to discharge the
duties and responsibilities of the Shareholders' Agent set forth in this Escrow
Agreement without compensation for his services hereunder. Parent and the Escrow
Agent shall be entitled to rely upon the authorization and designation of the
Shareholders' Agent under this Section 9 and shall be fully protected in dealing
with the Shareholders' Agent, and shall have no duty to inquire into the
authority of any person reasonably believed by any of them to be the
Shareholders' Agent.

         10. NOTICES. Any notice or other communication required or permitted
hereunder shall be in writing and shall be deemed given when delivered in
person, by overnight courier, by facsimile transmission (with receipt confirmed
by telephone or by automatic transmission report) or five business days after
being sent by registered or certified mail (postage prepaid, return receipt
requested), as follows:

                  If to Parent:

                           Wit Capital Group, Inc.
                           826 Broadway,
                           New York, New York  10003
                           Facsimile: 212 253-5289
                           Attention: Ronald Readmond
                                      Vice Chairman, Co-Chief Executive Officer
                                      and President

                  with copies to:

                           Wit Capital Group, Inc.
                           826 Broadway
                           New York, New York  10003
                           Facsimile: 212 253-5289
                           Attention: Lloyd H. Feller, Esq.
                                      Senior Vice President and Co-General
                                      Counsel

                  and

                           Skadden, Arps, Slate, Meagher & Flom, LLP
                           Four Times Square, 30th Floor
                           New York, New York  10036
                           Facsimile: (212) 735-2000
                           Attention: Richard T. Prins, Esq.

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                  and

                           Skadden, Arps, Slate, Meagher & Flom, LLP
                           525 University Avenue, Suite 220
                           Palo Alto, CA  94301
                           Facsimile:  (650) 470-4570
                           Attention:  Kenton J. King, Esq.

                  and if to Shareholders' Agent:

                           E*TRADE Group, Inc.
                           4500 Bohannon Drive
                           Menlo Park, CA  94025
                           Facsimile: (650)331-6803
                           Attention:  Thomas A. Bevilacqua
                                       Chief Strategic Investment Officer

                  with copies to:

                           Wilson Sonsini Goodrich & Rosati
                           650 Page Mill Road
                           Palo Alto, CA  94304
                           Facsimile:  (650) 461-5380
                           Attention:  Alan K. Austin, Esq.

                  and

                           Brobeck Phleger & Harrison
                           Two Embarcadero Place
                           2200 Geng Road
                           Palo Alto, CA  94303
                           Facsimile:  (650) 496-2885
                           Attention:  Curtis L. Mo, Esq.

                  and

                           Paul, Weiss, Rifkind, Wharton & Garrison
                           1285 Avenue of the Americas
                           New York, NY 10019
                           Facsimile:  (212) 757-3990
                           Attention:  Douglas A. Cifu, Esq.

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Any party may by notice given in accordance with this section to the other
parties designate another address or person for receipt of notices hereunder.

         11. VOTING. Until the Escrow Termination Date, the Escrow Agent will
vote each of the Escrow Shares as directed in writing by the owner thereof.

         12. GOVERNING LAW. This Escrow Agreement is governed by the laws of
Delaware without regard to its conflict of law provisions, and shall inure to
the benefit of and be binding upon the successors, assigns, heirs and personal
representatives of the parties hereto.

         13. COUNTERPARTS. This Escrow Agreement may be executed in two or more
counterparts, all of which documents shall be considered one and the same
document.

         14. ADDITIONAL TERMS.

                  (1) The Escrow Agent shall have no more or less responsibility
or liability on account of any action or omission of any book-entry depository,
securities intermediary or other subescrow agent employed by the Escrow Agent
than any such book-entry depository, securities intermediary or other subescrow
agent has to the Escrow Agent, except to the extent that such action or omission
of any book-entry depository, securities intermediary or other subescrow agent
was caused by the Escrow Agent's own negligence, bad faith or willful
misconduct.

                  (2) Each of the parties hereby absolutely and irrevocably
consent and submit to the jurisdiction of the courts in Delaware and of any
Federal court located in Delaware in connection with any actions or proceedings
brought against any of the parties (or each of them) by the Escrow Agent arising
out of or relating to this Escrow Agreement. In any such action or proceeding,
the parties each hereby absolutely and irrevocably (i) waives any objection to
jurisdiction or venue, (ii) waives personal service of any summons, complaint,
declaration or other process, and (iii) agrees that the service thereof may be
made by certified or registered first-class mail directed to such party, as the
case may be, at their respective addresses in accordance with Section 10 hereof.

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                  (3) The Escrow Agent shall not be responsible for delays or
failures in performance resulting from acts beyond its control. Such acts shall
include but not be limited to acts of God, strikes, lockouts, riots, acts of
war, epidemics, governmental regulations superimposed after the fact, fire,
communication line failures, computer viruses, power failures, earthquakes or
other disasters.

                  (4) This Escrow Agreement shall be binding upon the respective
parties hereto and their heirs, executors, successors and assigns.

                  (5) This Escrow Agreement may not be altered or modified
without the express written consent of the parties hereto. No course of conduct
shall constitute a waiver of any of the terms and conditions of this Escrow
Agreement, unless such waiver is specified in writing, and then only to the
extent so specified. A waiver of any terms and conditions of this Escrow
Agreement on one occasion shall not constitute a waiver of the other terms of
this Escrow Agreement, or of such terms and conditions on any other occasion.

                  (6) The parties agree that this Escrow Agreement and all
documents relating thereto, including, without limitation, (i) consents, waivers
and modifications which may hereafter be executed, and (ii) certificates and
other information previously or hereafter furnished, may be reproduced by any
photographic, photostatic, microfilm, optical disk, micro-card, miniature
photographic or other similar process and shall be admissible in evidence as the
original itself in any judicial or administrative proceeding, whether or not the
original is in existence and whether or not such reproduction was made by a
party in the regular course of business, and that any enlargement, facsimile or
further reproduction of such reproduction shall likewise be admissible in
evidence.

                  [Remainder of Page Intentionally Left Blank]

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                  IN WITNESS WHEREOF, the parties have executed this Escrow
Agreement on the date first above written.

                                  WIT CAPITAL GROUP, INC.

                                  By: /s/ RONALD READMOND
                                      -----------------------------------------
                                      Name: Ronald Readmond
                                      Title: Vice-Chairman, Co-Chief
                                             Executive Officer and President

                                  E*TRADE GROUP, INC.

                                  By: /s/ THOMAS A. BEVILACQUA
                                      -----------------------------------------
                                      Name: Thomas A. Bevilacqua
                                      Title: Chief Strategic Investment Officer

                                  [Escrow Agent]

                                  By:
                                      -----------------------------------------
                                      Authorized Signatory
                                      Name:  [                              ]
                                      Title: [                              ]
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                            FINAL ALLOCATION SCHEDULE

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                                   SCHEDULE II
                              FEES OF ESCROW AGENT

[Acceptance Fee:                        ]
[Annual Fee:                            ]

[Wire Fee:                              ]
[Out-of-Pocket Expense:                 ]
[Legal Fees:                            ]<PAGE>

                                                                 EXHIBIT 10.18

                            STOCK PURCHASE AGREEMENT

                                  BY AND AMONG

                            WIT CAPITAL GROUP, INC.,

                              E*TRADE GROUP, INC.,

                                       AND

                           CERTAIN ENTITIES AFFILIATED

                       WITH GENERAL ATLANTIC PARTNERS, LLC

                                  MAY 15, 2000

<PAGE>

                            STOCK PURCHASE AGREEMENT

                  THIS STOCK PURCHASE AGREEMENT is made as of May 15, 2000 by
and among Wit Capital Group, Inc., a Delaware corporation (the "Seller"),
E*TRADE Group, Inc., a Delaware corporation ("E*TRADE"), and the other investors
identified on Schedule A (E*TRADE and such other investors each being referred
to herein individually as a "Purchaser" and collectively as the "Purchasers").

                  WHEREAS, the Seller and E*TRADE are entering into a Strategic
Alliance Agreement (the "Alliance Agreement"), pursuant to which the Seller will
offer investment banking products and services to customers of E*TRADE and its
affiliates, upon the terms and subject to the conditions contained in the
Alliance Agreement;

                  WHEREAS, the Seller and E*TRADE are entering into an Account
Transfer Agreement (the "Transfer Agreement"), pursuant to which the Seller will
(and will cause its subsidiaries to) transfer to E*TRADE and its affiliates all
right, title and interest in and to the retail brokerage accounts maintained by
the Seller and its subsidiaries; and

                  WHEREAS, the Purchasers wish to purchase from the Seller, and
the Seller wishes to sell to the Purchasers, the Shares (as defined below), upon
the terms and subject to the conditions set forth herein;

                  NOW, THEREFORE, in consideration of the covenants and
agreements contained herein, and for other good and valuable consideration the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

        1.        PURCHASE AND SALE OF STOCK.

                  1.1 SALE AND ISSUANCE OF STOCK. Subject to the terms and
conditions of this Agreement, the Seller agrees to issue and sell to the
Purchasers (or their designees), and each of the Purchasers agree severally and
not jointly to purchase (or cause its designee to purchase) from the Seller the
number of shares (collectively, the "Shares") of common stock, par value $0.01
per share, of the Seller (the "Common Stock") set forth opposite each
Purchaser's name on SCHEDULE A attached hereto at a price per share equal to
$10.25 (the "Purchase Price").

                  1.2 THE CLOSING. The closing of the purchase and sale of the
Shares (the "CLOSING") shall be held at the offices of Brobeck, Phleger &
Harrison LLP, Two Embarcadero Place, 2200 Geng Road, Palo Alto, California, upon
satisfaction or waiver of each of the conditions set forth in Sections 4 and 5.
At the Closing, the Seller will deliver the Shares to the Purchasers against
payment of the Purchase Price for the Shares by wire transfer of immediately
available funds to an account or accounts designated by the Seller.

<PAGE>

        2.        REPRESENTATIONS AND WARRANTIES OF SELLER. The Seller hereby
represents and warrants to each Purchaser that:

                  2.1 ORGANIZATION; QUALIFICATION. The Seller (i) is a
corporation duly organized, validly existing and in good standing under the laws
of the State of Delaware; (ii) has full corporate power and authority to carry
on its business as it is now being conducted and to own, lease or operate the
properties and assets as currently owned, leased or operated; and (iii) is duly
qualified or licensed to do business as a foreign corporation in good standing
in every jurisdiction in which ownership of property or the conduct of its
business requires such licensing or qualification or, if the Seller is not so
licensed or qualified in any such jurisdiction, it can become so qualified in
such jurisdiction without any material adverse effect (including assessment of
state taxes for prior years) upon its business and properties. The Seller has
heretofore delivered to the Purchasers complete and correct copies of the
Certificate of Incorporation and Bylaws of the Seller, as presently in effect.

                  2.2 AUTHORIZATION; VALIDITY OF AGREEMENT; SELLER ACTION. The
Seller has full corporate power and authority to execute and deliver this
Agreement, and to execute the obligations hereunder. The execution, delivery and
performance by the Seller of this Agreement have been duly authorized by the
Seller's Board of Directors and no other corporate action on the part of the
Seller is necessary to authorize the execution and delivery by the Seller of
this Agreement. This Agreement has been duly executed and delivered by the
Seller and, assuming due and valid authorization, execution and delivery thereof
by the Purchasers, this Agreement is a valid and binding obligation of the
Seller, enforceable against the Seller in accordance with its terms.

                  2.3 VALID ISSUANCE OF STOCK. The Shares, when issued, sold and
delivered in accordance with the terms hereof, and the Alliance Shares and the
Warrant (each as defined in the Alliance Agreement), including the shares of
Common Stock issuable upon exercise of the Warrant, when issued, sold (as
applicable) and delivered in accordance with the terms of the Alliance Agreement
or the Warrant (as the case may be), will be duly authorized and validly issued,
fully paid and nonassessable and will be delivered free and clear of any liens,
security interests, charges, preemptive rights and other encumbrances or
restrictions on sale and, assuming the accuracy of the representations and
warranties of the Purchasers in this Agreement, will be issued in compliance
with all applicable federal and state securities laws.

                  2.4 CONSENTS AND APPROVALS; NO VIOLATIONS. Except for the
filings, permits, authorizations, consents and approvals as may be required
under, and other applicable requirements of, the Securities Act of 1933, as
amended (the "Securities Act"), the rules and regulations of the National
Association of Securities Dealers, Inc. (the "NASD"), the HSR Act (as defined in
the Merger Agreement referred to below), and state securities laws, none of the
execution, delivery or performance of this Agreement by the Seller, or
compliance by the Seller with any of the provisions hereof, shall (i) conflict
with or result in any breach of any provision of the certificate of
incorporation, the bylaws or similar organizational documents of the Seller,
(ii) require any filing with, or permit, authorization, consent or approval of,
any governmental entity, (iii) result in a violation or breach of, or constitute
(with or without due notice or the passage of time or both) a default (or give
rise to any right of termination, amendment, cancellation or acceleration)
under, any of the terms, conditions or provisions of any Parent

                                       2
<PAGE>

Agreement (as defined in the Merger Agreement), or (iv) violate any order, writ,
injunction, decree, statute, rule or regulation applicable to the Seller, or to
which the Seller is a party or by which any of its properties or assets is
bound, excluding from the foregoing clauses (ii), (iii) and (iv) such
violations, breaches or defaults which would not, individually or in the
aggregate, have a material adverse effect on the Seller and its subsidiaries,
taken as a whole. There are no third party consents or approvals required to be
obtained for the execution, delivery and performance of, or consummation of the
transactions contemplated under, this Agreement or any Parent Agreement (as
defined in the Merger Agreement) prior to the Closing, except for such consents
and approvals the failure of which to be obtained would not, individually or in
the aggregate, have a material adverse effect on the Seller and its
subsidiaries, taken as a whole.

                  2.5 LEGAL PROCEEDINGS. Neither the Seller nor the directors,
officers or employees of the Seller is a party to any, and there are no, legal,
administrative, arbitral or other proceedings, claims, actions or governmental
or regulatory investigations of any nature pending or, to the Seller's
knowledge, threatened in writing against any of them or any of their respective
properties or assets relating to the business of the Seller, or that challenges
this Agreement, or that would have a material adverse effect on the performance
by the Seller of its obligations hereunder or the consummation of the
transactions contemplated hereby.

                  2.6 MERGER AGREEMENT. The representations and warranties of
the Seller contained in the Agreement and Plan of Merger dated as of the date
hereof (the "Merger Agreement) among the Seller, Wit SoundView Corporation and
E*OFFERING Corp. (the "Company") are true and correct in all material respects
(except that any such representations and warranties that are qualified as to
materiality or Material Adverse Effect shall be true and correct in all
respects), and the Seller has performed and will perform its obligations and is
(and, at the Closing will be) in compliance with the Merger Agreement in all
material respects.

                  2.7 BROKERS OR FINDERS. No agent, broker, investment banker,
financial advisor or other firm or person is or shall be entitled to any brokers
or finders fee or any other commission or similar fee in connection with this
Agreement.

        3.        REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS. Each
Purchaser hereby, severally and not jointly with the other Purchasers,
represents and warrants to the Seller that:

                  3.1 AUTHORIZATION; VALIDITY OF AGREEMENT; PURCHASER ACTION.
Such Purchaser is a corporation, limited partnership or limited liability
company, as the case may be, duly organized, validly existing and in good
standing under the laws of the State of Delaware, and has full corporate,
limited partnership or limited liability company, as the case may be, power and
authority to execute and deliver this Agreement, and perform its obligations
hereunder. The execution, delivery and performance by such Purchaser of this
Agreement have been duly authorized by such Purchaser's Board of Directors,
general partner or managing member, as the case may be, and no other corporate,
limited partnership or limited liability company, as the case may be, action on
the part of such Purchaser is necessary to authorize the execution and delivery
by such Purchaser of this Agreement. This Agreement has been duly executed and
delivered by such Purchaser and, assuming due and valid authorization, execution
and delivery thereof by the Seller, this Agreement is a valid and binding
obligation of such Purchaser enforceable against such Purchaser in accordance
with its terms.

                                       3
<PAGE>

                  3.2 CONSENTS AND APPROVALS; NO VIOLATIONS. Except for the
filings, permits, authorizations, consents and approvals as may be required
under, and other applicable requirements of, the Securities Act, the rules and
regulations of the NASD, the HSR Act, and state securities laws none of the
execution, delivery or performance of this Agreement by such Purchaser, or
compliance by such Purchaser with any of the provisions hereof shall (i)
conflict with or result in any breach of any provision of the certificate of
incorporation, the bylaws the limited partnership agreement, the operating
agreement or similar organizational documents of such Purchaser, (ii) require
any filing with, or permit, authorization, consent or approval of, any
governmental entity, (iii) result in a violation or breach of, or constitute
(with or without due notice or the passage of time or both) a default (or give
rise to any right of termination, amendment, cancellation or acceleration)
under, any of the terms, conditions or provisions of any Company Agreement (as
defined in the Merger Agreement), or (iv) violate any order, writ, injunction,
decree, statute, rule or regulation applicable to such Purchaser, and to which
such Purchaser is a party or by which any of its assets is bound, or any of its
properties or assets, excluding from the foregoing clauses (ii), (iii) and (iv)
such violations, breaches or defaults which would not, individually or in the
aggregate, have a material adverse effect on such Purchaser and its
subsidiaries, taken as a whole. There are no third party consents or approvals
required to be obtained for the execution, delivery and performance of, or the
consummation of the transactions contemplated under, this Agreement or under any
Company Agreement (as defined in the Merger Agreement) prior to the Closing,
except for such consents and approvals the failure of which to be obtained would
not, individually or in the aggregate, have a material adverse effect on such
Purchaser and its subsidiaries, taken as a whole.

                  3.3 PRIVATE PLACEMENT. Each Purchaser is an "accredited
investor" as such term is defined in Regulation D under the Securities Act. Such
Purchaser hereby confirms that the Shares purchased by such Purchasers (or its
designee) will be acquired for the account of such Purchaser (or its designee)
and not with a view to the resale or distribution of any part thereof, and that
such Purchaser has no present intention of selling, granting any participation
in, or otherwise distributing the same, except as otherwise contemplated hereby.

        4.        CONDITIONS TO PURCHASERS' OBLIGATION AT CLOSING. The
obligation of each Purchaser to purchase Shares at the Closing is subject to the
satisfaction at or prior to the Closing of the following conditions:

                  4.1 REPRESENTATIONS AND WARRANTS. The representations and
warranties of the Seller set forth in Section 2 hereof shall be true and correct
in all material aspects on and as of the Closing with the same force and effect
as though the same had been made on and as of the Closing (except to the extent
they relate to a particular date). The Seller shall have performed in all
material respects all of its obligations to be performed under this Agreement,
and each Purchaser shall have received at the Closing a certificate to the
effect of the foregoing dated the date of the Closing and executed by the
President or a Senior Vice President of the Seller.

                  4.2 AUTHORIZATIONS. All authorizations, approvals or permits,
if any, of any governmental authority or regulatory body that are required in
connection with the lawful issuance and sale of the Shares pursuant to this
Agreement shall have been duly obtained and shall be effective on and as of the
Closing. Without limiting the foregoing, all waiting periods

                                       4
<PAGE>

under the HSR Act relating to the purchase and sale of the Shares hereunder
shall have expired or been terminated.

                  4.3 SECURITIES LAWS. The offer and sale of the Shares to the
Purchasers pursuant to this Agreement shall be exempt from the registration
requirements of the Securities Act and the qualification requirements of all
applicable state securities laws.

                  4.4 LEGAL OPINION. The Purchasers shall have received a legal
opinion from Skadden, Arps, Slate, Meagher & Flom LLP, counsel to the Seller,
addressed to the Purchasers and dated the date of the Closing, as to the
organization and qualification of the Seller, and the due execution, validity
and enforceability of this Agreement, and permitting the Purchasers to rely upon
the opinions delivered pursuant to Sections 9.2(g) of the Merger Agreement as
though they were directly addressed to the Purchasers, in form and substance
reasonably satisfactory to Purchasers.

                  4.5 ANCILLARY AGREEMENTS. The Alliance Agreement, the Transfer
Agreement and the Merger Agreement (each in the form executed as of the date
hereof or with such modifications or amendments as E*TRADE and General Atlantic
Partners, LLC shall have approved in writing) shall be in full force and effect,
and the Merger and the closing of the transfer of retail brokerage accounts
contemplated by the Merger Agreement and the Transfer Agreement, respectively,
shall have been consummated in accordance with the terms thereof (without any
waiver by the Company of any of the conditions to closing or its rights
thereunder, unless such waiver shall have been approved in writing in advance by
E*TRADE and General Atlantic Partners LLC).

        5.        CONDITIONS TO THE SELLER'S OBLIGATION AT CLOSING. The
obligation of the Seller to sell the Shares at the Closing is subject to the
satisfaction at or prior to the Closing of the following conditions:

                  5.1 REPRESENTATIONS AND WARRANTIES. The representations and
warranties of each Purchaser set forth in Section 3 hereof shall be true and
correct in all material aspects on and as of the Closing with the same force and
effect as though the same had been made on and as of the Closing (except to the
extent they relate to a particular date). Each Purchaser shall have performed in
all material respects all of its obligations to be performed under this
Agreement. The Seller shall have received at the Closing a certificate to the
effect of the foregoing dated the date of the Closing and executed by the
President or an Executive or Senior Vice President of the Purchaser.

                  5.2 AUTHORIZATIONS. All authorizations, approvals or permits,
if any, of any governmental authority or regulatory body that are required in
connection with the lawful issuance and sale of the Shares pursuant to this
Agreement shall have been duly obtained and shall be effective on and as of the
Closing. Without limiting the foregoing, all waiting periods under the HSR Act
relating to the purchase and sale of the Shares hereunder shall have expired or
been terminated.

                                       5
<PAGE>

                  5.3 SECURITIES LAWS. The offer and sale of the Shares to the
Purchasers pursuant to this Agreement shall be exempt from the registration
requirements of the Securities Act and the qualification requirements of all
applicable state securities laws.

        6.        COVENANTS.

                  6.1 FURTHER ASSURANCES. Each of the parties agree to use its
reasonable best efforts to take, or cause to be taken, all actions, and to do,
or cause to be done, all things necessary, proper or advisable (subject to any
applicable laws), to effect sale and purchase of the Shares as promptly and
practicable including, but not limited to: (i) the preparation and filing of all
forms, registrations and notices (including, without limitation, under the HSR
Act) required to be filed to consummate the sale and purchase of the Shares and
the taking of such actions necessary to obtain any requisite approvals,
consents, orders, exemptions or waivers the such actions as are reasonably
necessary (including, without limitation, making filings by any third party or
governmental authority), (ii) the satisfaction of the other party's or parties'
conditions to Closing. In addition, neither party will take after the date of
this Agreement any action that would reasonably be expected to materially delay
the obtaining of, or result in not obtaining, any permission, approval or
consent from any government authority necessary to be obtained prior to Closing.

                  6.2 RULE 144 REPORTING. With a view to making available the
benefits of certain rules and regulations of the Commission which may at any
time permit the sale of the Shares, the Alliance Shares and the shares of Common
Stock issuable upon exercise of the Warrant ("Warrant Shares") to the public
without registration, the Seller agrees that as long as the Purchasers own any
of the Shares, Alliance Shares or Warrant Shares and such securities are
unregistered under the Securities Act, the Seller will:

                    (a) Make and keep public information available, as those
terms are understood and defined in Rule 144 under the Securities Act;

                    (b) File with the Commission in a timely manner all reports
and documents required of the Seller under the Securities Act and the Securities
and Exchange Act of 1934, as amended (the "Exchange Act"); and

                    (c) Furnish to each of the Purchasers forthwith upon
request, a written statement by the Seller as to its compliance with the
reporting requirements of Rule 144, and of the Securities Act and the Exchange
Act, a copy of the most recent annual and quarterly report of the Seller, and
such other reports and documents of the Seller as any Purchaser may reasonably
request in availing itself of any rule or regulation of the Commission allowing
Purchasers to sell any Shares without registration under the Securities Act.

                                       6
<PAGE>

                  6.3 REGISTRATION RIGHTS. Subject to the Purchasers being
entitled to assign, sell, hypothecate and otherwise transfer the Alliance Shares
or the shares of Common Stock received by the Purchasers in the merger pursuant
to the Merger Agreement (the "Merger Shares") or any interest therein in
accordance with the provisions of the Lockup Agreement dated as of the date
hereof between the parties hereto, the Purchasers shall be entitled to the
following registration rights:

                      (a) PIGGYBACK REGISTRATION RIGHTS.

                          (i) If the Seller plans to file a registration
statement under the Securities Act to register any shares of Common Stock for
offering or sale by it or any of its stockholders (the "Piggyback Registration
Statement") (except in connection with any stock option plan, stock purchase
plan, savings or similar plan), the Seller shall provide the Purchasers the
right to include the Shares, the Alliance Shares, the Warrant Shares, the Merger
Shares, shares of Common Stock beneficially owned by officers and directors of
the Purchasers, and any Stock Distributions (as defined below), in each case
together with the associated Parent Rights (as defined in the Merger Agreement)
or any similar rights (collectively, the "Securities") in the Piggyback
Registration Statement (the "Piggyback Right"), by providing the Purchasers with
at least ten (10) business days prior written notice thereof. At the written
request of the Purchasers, given within ten (10) business days after the receipt
of such notice, the Seller will use its reasonable best efforts to cause all of
the securities for which registration have been requested to be included in the
Piggyback Registration Statement.

                          (ii) In the event that the proposed offering is an
offering by the Seller that is, in whole or in part, an underwritten public
offering of shares of Common Stock, and the managing underwriters determine and
advise in writing that the inclusion of the Securities proposed to be included
in the underwritten public offering and any other issued and outstanding shares
of Common Stock or other securities proposed to be included therein by the
securityholders of the Seller (the "Other Securities") would interfere with the
successful marketing (including pricing) of the shares, the amount of the
Purchasers' Securities and the Other Securities to be included in such
underwritten public offering shall be reduced first, pro rata among the holders
of the Securities and the Other Securities (other than those beneficially owned
by Capital Z Partners and Goldman, Sachs & Co.), and then pro rata among the
holders of the Other Securities beneficially owned by Capital Z Partners and
Goldman, Sachs & Co.; PROVIDED, HOWEVER, that the Seller shall use its
reasonable best efforts, including but not limited to obtaining the consents
required from holders of Other Securities and Capital Z Partners and Goldman,
Sachs & Co., to include the Securities on a pari passu basis with the Other
Securities in any such underwritten public offering, without the above priority
of share inclusion in favor of Capital Z Partners and Goldman, Sachs & Co. upon
underwriter cutbacks.

                      (b) DEMAND REGISTRATION RIGHT. Each of E*TRADE, on the one
hand, and the other Purchasers, on the other hand, shall have the right,
exercisable not more than twice during any twelve-month period, to demand, by
providing written notice to the Seller (the "Demand Registration Right"), that
the Seller file a registration statement on Form S-3 (or a successor form or
other form which the Seller is eligible to use) to register the Securities for
resale by the Purchasers in an offering that is not underwritten (the
"Registration Statement"). The Seller agrees to use its reasonable best efforts
(i) to file the Registration Statement with the

                                       7
<PAGE>

Securities and Exchange Commission ("SEC") within twenty (20) days of receipt of
any such notice of exercise of the Demand Registration Right, (ii) to obtain the
effectiveness of the Registration Statement and (iii) to keep such Registration
Statement effective for a period of ninety (90) days, or (in the case of a shelf
registration) one hundred eighty (180) days, after its effectiveness. Each of
the Purchasers agree that it will cease making offers and sales under the
Registration Statement upon the giving of any notice (the "Notice") by the
Seller that the Registration Statement must be amended or supplemented. If the
Seller shall give any such notice, the Seller will agree to keep the
Registration Statement effective after it is amended or supplemented for such
period of time equal to the sum of (x) the number of days beginning with the
date of the Notice to the date the Purchasers have received an effective amended
prospectus or a supplemented prospectus plus (y) ninety (90), or (in the case of
a shelf registration) one hundred eighty (180) days, less the number of days the
Registration Statement was useable by the Purchasers prior to the Notice.

                      (c) Whenever the Seller is required to register any of the
Securities pursuant to any of the provisions of this Section 6.3, the Seller
shall also be obligated to do the following:

                          (i) Furnish to the Purchaser or Purchasers selling
Securities pursuant to such registration such copies of preliminary and final
prospectuses and such other documents as the Purchaser may reasonably request to
facilitate the public offering of the Securities;

                          (ii) Use its best efforts to register or qualify the
Securities covered by said registration statement under the securities or Blue
Sky laws of such jurisdictions as the Purchaser or Purchasers selling Securities
pursuant to such registration may reasonably request; provided, however, that
Seller shall not be required to qualify generally to do business in any
jurisdiction where it is not then so qualified, take any action that would
subject it to general service of process in any such jurisdiction where it is
not then so subject or subject Seller to any tax in any such jurisdiction where
it is not then so subject;

                          (iii) List the Securities covered by said registration
statement on any national stock exchange or over-the-counter market on which the
Common Stock is listed or quoted for trading;

                          (iv) Permit the Purchaser or Purchasers selling
Securities pursuant to such registration or its counsel or other
representatives, at such Purchaser's expense, to inspect and copy such corporate
documents and records as may reasonably be requested by them; and

                          (v) Furnish to the Purchaser or Purchasers selling
Securities pursuant to such registration a copy of all documents filed and all
correspondence to or from the Securities and Exchange Commission in connection
with any such offering.

                      (d) Each of the Purchasers shall bear all of the fees and
expenses of its counsel in connection with the registration statement and the
offering. The Seller shall bear all other expenses in connection with the
preparation and filing of any Registration Statement and

                                       8
<PAGE>

its pro rata share of all other expenses in connection with the preparation and
filing of any Piggyback Registration Statement under this Section 6.3, any
registration or qualification under the securities or Blue Sky laws of states in
which the offering will be made under either such registration statement and any
filing fee of the NASD relating to such offering and of any underwriters' or
brokers' commission.

                      (e) In connection with any public underwritten offering,
the Seller and the Purchasers or Purchasers selling Securities pursuant to such
registration shall enter into a written agreement with the managing underwriters
in such form and containing such provisions as are customary in the securities
business for such an arrangement between such managing underwriters and
companies of the Seller's size and investment stature, including
indemnification.

        7.        MISCELLANEOUS.

                  7.1 TERM; TERMINATION. This Agreement may be terminated by the
Purchasers or the Seller if the Merger Agreement, Alliance Agreement or Transfer
Agreement is terminated in accordance with the terms thereof or if the merger
under the Merger Agreement is not consummated in accordance with the terms
thereof on or before October 31, 2000.

                  7.2 SURVIVAL; ADDITIONAL SECURITIES. The representations and
warranties set forth in Sections 2 and 3 shall survive until the first
anniversary of the Closing, after which time they shall be of no further force
or effect; PROVIDED, HOWEVER, that the representations and warranties contained
in Section 2.3 shall survive forever. Any new, substituted or additional
securities which are by reason of any stock split, stock dividend,
recapitalization or reorganization distributed with respect to the Securities,
including securities issuable upon conversion or exercise thereof ("STOCK
DISTRIBUTIONS"), shall be immediately subject to the covenants and agreements
set forth in Section 6 to the same extent the Shares are at such time covered by
such provisions.

                  7.3 SUCCESSORS, ASSIGNS AND THIRD PARTY BENEFICIARIES. Except
as otherwise expressly provided herein, the provisions hereof shall inure to the
benefit of, and be binding upon, the respective successors and assigns of the
parties hereto. Except as provided in Section 6.4, nothing in this Agreement,
express or implied, is intended to confer upon any party other than the parties
hereto or their respective successors and assigns any rights, remedies,
obligations, or liabilities under or by reason of this Agreement, except as
expressly provided in this Agreement. Except as provided in Section 6.4,
notwithstanding anything to the contrary contained herein, the covenants set
forth in Section 6 shall not be binding upon any entity (other than an affiliate
of the Purchasers) which acquires any Shares or a Stock Distribution in a
transaction permitted hereunder or, with respect to such Shares or Stock
Distribution, the Seller.

                  7.4 ENTIRE AGREEMENT. This Agreement (and the documents
referred to herein) constitute the entire understanding and agreement between
the parties with regard to the subject matter hereof.

                                       9
<PAGE>

                  7.5 NOTICES. Except as otherwise provided, all notices and
other communications required or permitted hereunder shall be made or given as
provided in the Alliance Agreement.

                  7.6 AMENDMENTS AND WAIVERS. Any term of this Agreement may be
amended and the observance of any term of the Agreement may be waived (either
generally or in a particular instance and either retroactively or prospectively)
only with the written consent of Seller and Purchasers.

                  7.7 DISPUTES. All disputes arising in connection with this
Agreement shall be resolved in accordance with Section 13.1 of the Merger
Agreement.

                  7.8 EXPENSES. Irrespective of whether the Closing is effected,
the Seller and each of the Purchasers shall each pay their own costs and
expenses incurred with respect to the negotiation, execution, delivery and
performance of this Agreement. Each party hereby represents and warrants to the
other that it has not incurred, and will not incur, any brokerage or finders'
fees or commissions in connection with the purchase and sale of the Shares
hereunder.

                  7.9 TITLES AND SUBTITLES. The titles of the paragraphs and
subparagraphs of this Agreement are for convenience of reference only and are
not to be considered in construing this Agreement.

                  7.10 COUNTERPARTS. This Agreement may be executed in
counterparts, each of which shall be an original, but all of which together
shall constitute one instrument.

                  7.11 SEVERABILITY. If one or more provisions of this Agreement
are held to be unenforceable under applicable law, such provision shall be
excluded from this Agreement and the balance of the Agreement shall be
interpreted as if such provision were so excluded and shall be enforceable in
accordance with its terms.

                  7.12 GOVERNING LAW. This Agreement shall be governed in all
respects by the laws of the State of California as applied to agreements among
California residents entered into and to be performed entirely within
California, without regard to the conflict of law provisions thereof.

                                       10
<PAGE>

                  IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the day and year hereinabove first written.

                                     WIT CAPITAL GROUP, INC.

                                     By: ___________________________________
                                         Name:
                                         Title:

                                     E*TRADE GROUP, INC.

                                     By: ___________________________________
                                         Name:
                                         Title:

                                     GENERAL ATLANTIC PARTNERS 68, L.P.
                                     By: General Atlantic Partners, LLC,
                                         its general partner

                                     By: ____________________________________
                                         Name:
                                         Title:

                                     GAPSTAR, LLC

                                     By: General Atlantic Partners, LLC,
                                         its managing member

                                     By: ____________________________________
                                         Name:
                                         Title:

                                       11
<PAGE>

                                     GAP COINVESTMENT PARTNERS II, L.P.

                                     By: ____________________________________
                                     Name:
                                     Title:

                                       12
<PAGE>

                                   SCHEDULE A

                             SCHEDULE OF PURCHASERS
<TABLE>
<CAPTION>

----------------------------- ---------------- --------------------
                                 NUMBER OF       TOTAL PURCHASE
                                  SHARES         PRICE OF SHARES
NAME                             PURCHASED
----------------------------- ---------------- --------------------
<S>                              <C>             <C>
E*TRADE GROUP, INC.               2,000,000         $20,000,000
----------------------------- ---------------- --------------------
GENERAL ATLANTIC PARTNERS
68, L.P.                          1,623,536         $16,235,360
----------------------------- ---------------- --------------------
GAPSTAR, LLC                        125,000          $1,250,000
----------------------------- ---------------- --------------------
GAP COINVESTMENT
PARTNERS II, L.P.                   251,464          $2,514,645
----------------------------- ---------------- --------------------
</TABLE>

                                       13

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