Document:

Jon Adams Financial Co., L.L.P.
175 Westwood, Suite 1000
Wayata, MN 55391
Phone/612.473.4892
Fax/612.473.6988

                                  12 May, 1999

Justin MacIntosh
Chairman, President and CEO
c/o CorVu Corporation
3400 West 66th Street
Suite 445
Edina, MN 55435

Via Facsimile - 612.325.5770

Re:      Terms of Proposed Relationship

Dear Justin:

         As we discussed, consistent with our role in working with you to
address the financial needs of CorVu Corporation and to assist you in
consummating a reverse merger transaction with a publicly-traded entity, we are
pleased to propose the following revised terms (an "Agreement") for retention of
the services of the Jon Adams Financial Co., L.L.P. ("JAF") on an exclusive
basis by CorVu Corporation (the "Company"):

         1. JAF will assist the Company as its exclusive financial and business
advisor for four (4) months from the date of this Agreement to consummate a
reverse merger, merger, acquisition, strategic partnership, relationship or the
like (the "Transaction") on behalf of the Company. As used in this Agreement,
the term "Transaction" shall mean any merger, reverse merger, consolidation,
reorganization, recapitalization, business combination or other transaction
pursuant to which the Company acquires, or is acquired by, or combined with, a
third party or third parties. In connection with a Transaction and specifically
a reverse merger, JAF will endeavor to structure the Transaction such that the
Company will not sell, exchange, transfer, or hypothecate more than twenty-one
percent (21%) of its outstanding common stock in order to effectuate the
Transaction and that in the course of effectuating such a Transaction the
Company will receive approximately nine hundred thousand dollars ($900,000) as
consideration for its common stock (the "Initial Financing").

         2. Following or during the course of effectuating a Transaction, JAF
and/or its affiliate Equity Securities Investments, Inc. ("Equity") and the
Company will enter into an agreement to use JAF's and/or Equity's best efforts
to engage in an underwriting on the Company's behalf for a period of four (4)
months from the close of the Transaction (the "Underwriting Agreement") to
secure via a secondary offering or through other alternative means,
approximately two to three million dollars ($2,000,000-$3,000,000) in debt or
equity financing for the Company from a private entity or fund (the "Subsequent
Financing"). Pursuant to this undertaking JAF and/or Equity will have the
exclusive right to represent the Company in a Subsequent Financing capacity for
a period of four (4) months from the date of the close of a Transaction;
provided, however, that if the Company elects to seek and does obtain financing
through the efforts of another entity or agent or in its principal capacity
directly during the relevant four (4) month period, then the Company agrees to
compensate JAF and/or Equity for its efforts by paying JAF and/or Equity a
termination fee of seventy five thousand dollars ($75,000) upon the closing of
any such financing.

         3. In connection with JAF's activities on the Company's behalf, the
Company will furnish JAF with all information regarding the Company and data
concerning the Company and any Transaction, Initial Financing and/or Subsequent
Financing and, to the Company's best knowledge, any prospective financier or
financiers which JAF deems appropriate, and will provide JAF with access to the
Company's officers, directors, employees, independent accountants and legal
counsel. JAF will keep all information confidential in accordance with its
customary practice. The Company represents and warrants to the best of its
knowledge that all information made available to JAF by the Company will, at all
times during the period of the engagement of JAF hereunder, be complete and
correct in all material respects and will not contain any untrue statement of a
material fact or omit to state a material fact necessary in order to make the
statements therein not misleading in the light of the circumstances under which
statements are made. The Company further represents and warrants that any
projections provided by it to JAF will have been prepared in good faith and will
be based upon assumptions which, in light of the circumstances under which they
are made, were reasonable. The Company acknowledges and agrees that, in
rendering its services hereunder, JAF will be using and relying on the
information (and information available from public sources and other sources
deemed reliable by JAF) without independent verification thereof. Furthermore,
in evaluating prospective financiers, JAF will be using information contained in
public reports and possibly other information furnished to JAF by such
prospective financier. JAF does not assume responsibility for the accuracy or
completeness of any information regarding the Company, any prospective financier
or any Transaction, Initial Financing and/or Subsequent Financing. Any advice
rendered by JAF pursuant to this Agreement may not be disclosed publicly without
our prior written consent.

         4. In consideration of our services pursuant to this Agreement, JAF
shall be entitled to receive, and the Company agrees to pay JAF, the following
compensation:

                  a. Upon the consummation of a Transaction, the Company shall
         compensate JAF for its efforts by providing to JAF three percent
         (3.00%) of the outstanding common stock of the Company immediately
         preceding a Transaction (based upon 9,490,700 shares of common stock of
         the Company outstanding and subject to an appropriate adjustment
         pursuant to standard anti-dilution provisions) and by providing to JAF
         a five (5) year warrant (with standard anti-dilution provisions) to
         purchase an additional one percent (1.00%) of the common stock of the
         Company after a Transaction at the lesser of: (i) the per share price
         equal to one hundred and twenty percent (120%) of the per share closing
         price of the common stock of the Company at the first date upon which
         it begins to publicly-trade; or (ii) the fair market value of the
         common stock of the Company at the date at which a Transaction is
         closed.

                  b. Upon the consummation of the Initial Financing in
         connection with the Transaction, the Company shall compensate JAF in an
         aggregate amount equal to five percent (5.00%) of the gross proceeds of
         the Initial Financing.

                  c. Upon the consummation of any Subsequent Financing in
         connection with the Transaction, pursuant to the to-be-executed
         Underwriting Agreement, the-Company agrees to: (i) compensate JAF
         and/or Equity in an aggregate amount equal to seven and one-half
         percent (7.50%) of the gross proceeds of the Subsequent Financing plus
         a non-accountable expense allowance in an amount equal to one percent
         (1.00%) of the gross proceeds of the Subsequent Financing; and (ii)
         grant to JAF and/or Equity a five (5) year warrant to purchase ten
         percent (10.00%) of the equity stake sold to an investor or investors
         at a price equal to the price paid by the investor or a simple average
         of the price paid by multiple investors or any conversion price formula
         utilized in connection with the Subsequent Financing; provided,
         however, that in the event that the Subsequent Financing is
         accomplished with a party identified in Appendix A, then the Company
         agrees to compensate JAF and/or Equity in an aggregate amount equal to
         five percent (5.00%) of the gross proceeds of the Subsequent Financing
         plus a non-accountable expense allowance in an amount equal to one
         percent (1.00%) of the gross proceeds of the Subsequent Financing and
         to grant to JAF and/or Equity a five (5) year warrant to purchase seven
         and one-half percent (7.50%) of the equity stake sold to an investor or
         investors at a price equal to the price paid by the investor or a
         simple average of the price paid by multiple investors or any
         conversion price formula utilized in connection with the Subsequent
         Financing.

                  d. JAF shall be entitled to the fees set forth in this
         paragraph 4 with respect to any Transaction, Initial Financing and/or
         Subsequent Financing consummated during the term or with respect to any
         Transaction consummated within one (1) year after the date of
         termination of this Agreement, if the party to such Transaction,
         Initial Financing and/or Subsequent Financing was introduced to the
         Company by JAF during the term of this Agreement.

         5. In addition to the fees described in paragraph 4 above, the Company
agrees to reimburse JAF, upon request from time to time, for all reasonable
accountable out-of-pocket expenses incurred by JAF in connection with the
matters contemplated by this Agreement; provided however that JAF shall obtain
prior approval for expenses exceeding ten thousand dollars ($10,000) in the
aggregate. However, the limitation on the aggregate amount of such out-of-pocket
expenses in the preceding sentence shall not apply to any amount incurred by JAF
pursuant to the Indemnification Provisions (as such term is defined below).

         6. The Company agrees to indemnify JAF in accordance with the
indemnification provisions (the "Indemnification Provisions") attached to this
Agreement, which Indemnification provisions are incorporated herein and made a
part hereof.

         7. Either party hereby may terminate this Agreement at any time upon
written notice, without liability or continuing obligation, except as set forth
in the following sentence. Neither termination of this Agreement nor completion
of the assignment contemplated hereby shall affect: (i) any compensation earned
by JAF up to the date of termination or completion, as the case may be, (ii) any
compensation to be earned by JAF after termination pursuant to paragraph 4
hereof, (iii) the reimbursement of expenses incurred by JAF up to the date of
termination or completion, as the case may be, (iv) the provisions of paragraphs
4-9, inclusive, of this Agreement and (v) the attached Indemnification
Provisions which are incorporated herein, all of which shall remain operative
and in full force and effect.

         8. The validity and interpretation of this Agreement shall be governed
by the laws of the State of Minnesota applicable to agreements made and to be
fully performed therein.

         9. The benefits of this Agreement shall inure to the respective
successors and assigns of the parties hereto and of the indemnified parties
hereunder and their successors and assigns and representatives, and the
obligations and liabilities assumed in this Agreement by the parties hereto
shall be binding upon their respective successors and assigns.

         10. For the convenience of the parties, any number of counterparts of
this Agreement may be executed by the parties hereto. Each such counterpart
shall be deemed to be an original instrument, but all such counterparts taken
together shall constitute one and the same Agreement. This Agreement may not be
modified or amended except in writing signed by the parties hereto.

         If the foregoing correctly sets forth our agreement, we would
appreciate your signing this letter in the space provided and returning it to
us.

                                   Sincerely,

                                   JON ADAMS FINANCIAL CO., L.L.P.

                                   /s/ Edward S. Adams
                                   Edward S. Adams, as Principal

Confirmed and agreed to this 12th
day of May, 1999
CORVU CORPORATION

By:      /s/ Justin MacIntosh
  Its: Chairman, President and Chief Executive Officer

<PAGE>

                           INDEMNIFICATION PROVISIONS

The Company (as such term is defined in the Agreement (as such term is defined
below)) agrees to indemnify and hold harmless JAF against any and all losses,
claims, damages, obligations, penalties, judgments, awards, liabilities, costs,
expenses and disbursements (and any and all actions, suits, proceedings and
investigations in respect thereof and any and all legal and other costs,
expenses and disbursements in giving testimony or furnishing documents in
response to a subpoena or otherwise), including. without limitation, the costs,
expenses and disbursements, as and when incurred, of investigating, preparing or
defending any such action, suit, proceeding or investigation (whether or not in
connection with litigation in which JAF is a party), directly or indirectly,
caused by, relating to, based upon, arising out of or in connection with (a)
JAF's acting for the Company, including, without limitation, any act or omission
by JAF in connection with its acceptance of or the performance or
non-performance of its obligations under the letter agreement dated May 12,
1999, between the Jon Adams Financial Company, L.L.P. and CorVu Corporation as
it maybe amended from time to time (the "Agreement"), (b) any untrue statement
or alleged untrue statement of a material fact or similar statements or
omissions in or from any information furnished to JAF or to any prospective
financier or any party to a Transaction, an Initial Financing and/or a
Subsequent Financing or (c) any Transaction, an Initial Financing and/or
Subsequent Financing (as such terms are defined in the Agreement); provided,
however, such indemnity agreement shall not apply to any portion of any such
loss, claim, damage, obligation, penalty, judgment, award, liability, cost,
expense or disbursement to the extent it is found in a final judgment by a court
of competent jurisdiction (not subject to further appeal) to have resulted
primarily and directly from the gross negligence or willful misconduct of JAF.
The Company also agrees that JAF shall not have any liability (whether direct or
indirect, in contract or tort or otherwise) to the Company or to any person
(including, without limitation, Company shareholders) claiming through the
Company for or in connection with the engagement of JAF, except to the extent
that any such liability is found in a final judgment by a court of competent
jurisdiction (not subject to further appeal) to have resulted primarily and
directly from JAF's gross negligence or willful misconduct.

These Indemnification Provisions shall be in addition to any liability which the
Company may otherwise have to JAF or the persons indemnified below in this
sentence and shall extend to the following: JAF, its respective affiliated
entities, directors, officers, employees, legal counsel, agents and controlling
persons (within the meaning of the federal securities laws). All references to
JAF in these Indemnification Provisions shall be understood to include any and
all of the foregoing.

If any action, suit, proceeding or investigation is commenced, as to which JAF
proposes to demand indemnification, it shall notify the Company with reasonable
promptness; provided, however, that any failure by JAF to notify the Company
shall not relieve the Company from its obligations hereunder. The Company shall
have the right to assume the defense of any such action with counsel of its
choice. JAF shall have the right to retain counsel of its own choice to
represent it, and participate in the defense thereof, but the fees and expenses
of such counsel shall be at the expense of JAF unless (a) the Company shall have
failed to assume the defense of such action or proceeding within a reasonable
time, or (b) the named parties to such action include JAF and JAF and the
Company shall have reasonably concluded that there may be a conflict in their
respective positions in conducting the defense of any such action or that there
may be legal defenses available to JAF which are different from those available
to the Company, in which case if JAF notifies the Company in writing that it
elects to employ separate counsel, the Company shall pay the fees, expenses and
disbursements of such counsel; and such counsel shall, to the extent consistent
with its professional responsibilities, cooperate with the Company and any
counsel designated by the Company; provided that in no event shall the Company
be obligated to pay the fees and expenses under this indemnity for more than one
firm of attorneys for JAF. The Company shall be liable for any settlement of any
claim against JAF made with the Company's written consent, which consent shall
not be unreasonably withheld. The Company shall not, without prior written
consent of JAF, settle or compromise any claim, or permit a default or consent
to the entry of any judgment in respect thereof, unless such settlement,
compromise or consent includes, as an unconditional term thereof, the giving by
the claimant to JAF of an unconditional release from all liability in respect of
such claim.

In order to provide for just and equitable contribution, if a claim for
indemnification pursuant to these Indemnification Provisions is made but is
found in a final judgment by a court of competent jurisdiction (not subject to
further appeal) that such indemnification may not be enforced in such case, even
though the express provisions hereof provide for indemnification in such case,
then the Company, on the one hand, and JAF, on the other hand, shall contribute
to the losses, claims, damages, obligations, penalties, judgments, awards,
liabilities, costs, expenses and disbursements to which the indemnified person
maybe subject in accordance with the relative benefits received by the Company,
on the one hand, and JAF, on the other hand, and also the relative fault of the
Company on the one hand and JAF on the other hand, in connection with the
statements, acts or omissions which resulted in such losses, claims, damages,
obligations, penalties, judgments, awards, liabilities, costs, expenses or
disbursements and the relevant equitable considerations shall also be
considered. No person found liable for a fraudulent misrepresentation shall be
entitled to contribution from any person who is not also found liable for such
fraudulent misrepresentation. Notwithstanding the foregoing, JAF shall not be
obligated to contribute any amount hereunder that exceeds the amount of fees
previously received by JAF pursuant to this Agreement.

Neither termination nor completion of the engagement of JAF referred to above
shall affect these Indemnification Provisions which shall then remain operative
and in full force and effect.BRIDGE LOAN AGREEMENT

         THIS BRIDGE LOAN AGREEMENT (this "Agreement") is dated as of November
15, 1999, by and between CorVu Corporation (the "Company") and Gildea
Management Company-The Network Funds (the "Investor").

                                    RECITALS:

         WHEREAS, the Company is in the process of entering into a merger
agreement with Minnesota American, Inc. (the "Reverse Merger") which is not
expected to close until late December 1999; and

         WHEREAS, the Company needs cash prior to such expected closing of the
Reverse Merger in order to be able to continue its planned investment in
infrastructure and growth; and

         WHEREAS, the Company principal lender has indicated it is unwilling at
this time to increase the Company's line of credit; and

         WHEREAS, Investor desires to lend funds to the Company on the terms and
conditions set forth in this Agreement.

                                   AGREEMENT:

         Accordingly, in consideration of the foregoing, the mutual promises set
forth herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

         1. Loan/Promissory Note. Investor agrees to lend to the Company Two
Hundred and Fifty Thousand Dollars ($250,000) and the Company agrees to deliver
to the Investor a subordinated unsecured promissory note, in the form attached
hereto as Exhibit A (the "Note"), in a like amount. The delivery of the Note
shall be made concurrently with delivery of funds to the Company in the amount
set forth above.

         2. Conversion of the Note.

                  (a) Automatic Conversion. To the extent the principal of the
         Note is outstanding on the closing of the Reverse Merger transaction,
         the entire principal outstanding on the Note and all accrued interest
         with respect to such principal shall be automatically converted into
         shares of common stock of the Company (or the surviving corporation
         pursuant to the Reverse Merger) at a price per share equal to Two
         Dollars and No Cents ($2.00), less any shares previously issued on
         partial conversion hereof pursuant to subsection (b) below, subject to
         adjustment pursuant to sections 4(e) and 4(f) of the Note.

                  (b) Election to Convert. Notwithstanding the provisions set
         forth above, Investor may at any time, at its option, by written notice
         (the "Conversion Notice") to the Company, elect to convert all or any
         part of the entire outstanding principal amount of the Note plus a pro
         rata share of the accrued interest on the then outstanding balance into
         common stock of the Company at a price per share equal to Two Dollars
         and No Cents ($2.00) per share.

                  (c) Delivery of Conversion Shares. The Common Stock issued on
         conversion of the Note (the "Conversion Shares") shall be delivered as
         follows:

                  As promptly as practicable after conversion, the Company shall
                  deliver to Investor, or to such person or persons as are
                  designated by Investor in the Conversion Notice, a certificate
                  or certificates representing the number of shares of Common
                  Stock into which the Note or portion thereof is to be
                  converted in such name or names as are specified in the
                  Conversion Notice, together with, in the case of conversion of
                  the entire remaining principal balance hereof, any cash
                  payable in respect of a fractional share.

                  In the event that less than the entire outstanding principal
                  balance of the Note is converted hereunder, the Note shall not
                  be surrendered for cancellation but shall have the fact and
                  amount of conversion recorded on the face of the Note by
                  writing acknowledged by Investor and the Company. If less than
                  the entire principal balance of the Note is converted, the
                  amount of principal converted shall be reduced to the nearest
                  amount that results in no fractional shares.

                  (d) Reservation of Shares. The Company agrees that, during the
         period within which the Note may be converted, the Company will at all
         times have authorized and in reserve, and will keep available solely
         for delivery upon the conversion of the Note, common stock and other
         securities and properties as from time to time shall be receivable upon
         the conversion of the Note, free and clear of all restrictions on
         issuance, sale or transfer other than those imposed by law and free and
         clear of all pre-emptive rights. The Company agrees that the common
         stock represented by each and every Conversion Share delivered on the
         conversion of the Note shall, at the time of such delivery, be validly
         issued and outstanding, fully paid and non-assessable, and the Company
         will take all such action as may be necessary to assure that the stated
         value or par value per share of the common stock is at all times equal
         to or less than the Conversion Price.

         3. Warrants. In consideration of the loan, the Company shall issue to
Investor, concurrently with delivery of the Note, stock purchase warrants, in
the form attached hereto as Exhibit B (the "Warrant"), to purchase Two Hundred
and Twenty-Five Thousand (225,000) shares of Company Common Stock at an exercise
price of $.01 per share. If the Note is not paid when due, the number of shares
purchasable under the Warrant shall increase by Twelve Thousand Five Hundred
(12,500) shares, and further increase by an additional Twelve Thousand Five
Hundred (12,500) shares for each 60-day period thereafter that the Note remains
unpaid. The shares of Company Common Stock issuable upon exercise of the Warrant
are referred to hereinafter as the "Warrant Shares."

         4. Repayment. All outstanding principal and accrued interest on the
Note shall be due and payable 120 days after the date hereof; provided, however,
that notwithstanding the foregoing, the entire principal outstanding on the Note
and all accrued interest with respect to such principal shall be automatically
converted into shares of common stock of the Company within three business days
after the closing of the Reverse Merger transaction. The Note may be prepaid at
any time without penalty.

         5. Use of Proceeds. The Company will use the proceeds of the loan
solely for working capital and general corporate purposes.

         6. Subordination. The Note shall be subordinate to all senior debt of
the Company as set forth in Section 6 of the Note.

         7. Restrictions on Transfer. The Note, the Warrant, and the Warrant
Shares shall be subject to certain restrictions on transfer identified in the
Note and the Warrant.

         8. Representations and Warranties of the Company. The Company
represents and warrants as follows:

                  (a) This Agreement has been duly authorized by all necessary
         corporate action on behalf of the Company, has been duly executed and
         delivered by an authorized officer of the Company, and is a valid and
         binding agreement on the part of the Company.

                  (b) All corporate action necessary to the authorization,
         issuance, and delivery of the Note, the Warrant, and the Warrant Shares
         has been taken on or prior to the date hereof.

                  (c) As of the date hereof, this Agreement, the Note, and the
         Warrant, taken as a whole, do not contain an untrue statement of a
         material fact or omit to state a material fact required in light of the
         circumstances under which such statements were made to be stated in
         such documents to make the statements in such documents, taken as a
         whole, not misleading.

         9. Representations and Warranties of the Investor. Investor represents
and warrants to the Company as follows:

                  (a) This Agreement has been duly authorized by all necessary
         corporate or partnership action on behalf of Investor, has been duly
         executed and delivered by an authorized officer of Investor, and is a
         valid and binding agreement on the part of Investor.

                  (b) Investor is an "accredited investor" as defined in Rule
         501(a) of Regulation D of the Securities Act of 1933 (the "Securities
         Act"), and was not formed for the purpose of making this investment.
         The Note and the Warrant are being purchased by Investor in Investor's
         name solely for Investor's own beneficial interest and not as nominee
         for, or on behalf of, or for the beneficial interest of, or with the
         intention to transfer to, any other person, trust or organization.

                  (c) Investor has such knowledge and experience in financial
         and business matters that Investor is capable of evaluating the merits
         and risks of the prospective investment in the Note and Warrants and
         has the net worth to undertake such risks. Investor is in a financial
         position to hold the Note, the Warrant and the Warrant Shares for an
         indefinite period of time and is able to bear the economic risk and
         withstand a complete loss of Investor's investment therein. Investor
         believes that the investment in the Note and Warrants is suitable for
         the Investor based upon Investor's investment objectives and financial
         needs.

                  (d) Investor realizes that (i) the purchase of the Note and
         the Warrant is a long-term investment, (ii) Investor must bear the
         economic risk of investment for an indefinite period of time because
         the Note, the Warrant, and the Warrant Shares have not been registered
         under the Securities Act or under the securities laws of any state and,
         therefore, none of such securities can be sold unless they are
         subsequently registered under said laws or exemptions from such
         registrations are available; (iii) Investor may not be able to
         liquidate Investor's investment in the event of an emergency or pledge
         any of such securities as collateral for loans; and (iv) the
         transferability of such securities is restricted and legends will be
         placed on the Note and the Warrant and on any certificates representing
         the Warrant Shares referring to the applicable restrictions on
         transferability.

                  (e) Investor has been given access to full and complete
         information regarding the Company and has utilized such access to
         Investor's satisfaction for the purpose of obtaining information
         concerning the Company and to obtain any additional information, to the
         extent reasonably available, necessary to verify the accuracy of
         information provided to Investor.

                  (f) Investor is not subject to the backup withholding
         provisions of Section 3406(a)(i)(C) of the Internal Revenue Code of
         1986, as amended (Note: You are subject to backup withholding if (i)
         you fail to furnish your Social Security number or taxpayer
         identification number herein; (ii) the Internal Revenue Service
         notifies the Company that You furnished an incorrect Social Security
         number or taxpayer identification number; (iii) you are notified that
         you are subject to backup withholding; or (iv) you fail to certify that
         you are not subject to backup withholding or you fail to certify your
         Social Security number or taxpayer identification number).

                  (g) Investor does not own voting securities of any brokerage
         firm. No director, officer, partner or 5% owner of Investor is also a
         director, officer, partner, branch manager, registered representative,
         employee, shareholder of, or similarly related to or employed by, a
         brokerage firm.

         10. Registration Rights.

                  (a) Each time the Company shall determine to proceed with the
         actual preparation and filing of a registration statement under the
         Securities Act in connection with the proposed offer and sale for money
         of any of its securities by it (other than a registration statement on
         Forms S-4 and S-8, or successors thereto), the Company will give
         written notice of its determination to Investor. Upon the written
         request of Investor given within 30 days after the date of mailing of
         any such notice from the Company, the Company will, except as herein
         provided, cause all the Conversion Shares and the Warrant Shares issued
         and to be issued upon exercise of the Warrants requested by Investor to
         be registered, to be included in such registration statement, all to
         the extent requisite to permit the sale or other disposition by
         Investor of the Conversion Shares and the Warrant Shares to be so
         registered; provided, however, that nothing herein shall prevent the
         Company from, at any time, abandoning or delaying any such registration
         initiated by it. If any such registration shall be underwritten in
         whole or in part, the Company may require that the shares requested for
         inclusion by Investor pursuant to this paragraph (a) be included in the
         underwriting on the same terms and conditions as the securities
         otherwise being sold through the underwriters. If in the good faith
         judgment of the managing underwriter of such public offering the
         inclusion of all of the shares originally covered by a request for
         registration made by Investor would reduce the number of shares to be
         offered by the Company or interfere with the successful marketing of
         the shares of stock offered by the Company, the number of shares owned
         by Investor and otherwise to be included in the underwritten public
         offering may be reduced; provided, however, that any such required
         reduction shall be pro rata among all persons (other than the Company)
         who are participating in such offering. Those shares which are thus
         excluded from such underwritten public offering shall be withheld from
         the market by Investor for a period, not to exceed 180 days, which the
         managing underwriter reasonably determines is necessary in order to
         effect the underwritten public offering.

                   (b) With respect to each inclusion of securities in a
         registration statement pursuant to this Section 10, the Company shall
         bear the following fees, costs and expenses: all registration, filing
         and NASD fees, printing expenses, fees and disbursements of counsel and
         accountants for the Company, fees and disbursements of counsel for the
         underwriter or underwriters of such securities (if the Company is
         required to bear such fees and disbursements), all internal expenses,
         the premiums and other costs of policies of insurance against liability
         arising out of the public offering, and legal fees and disbursements
         and other expenses of complying with state securities laws of any
         jurisdictions in which the securities to be offered are to be
         registered or qualified. Fees and disbursements of special counsel and
         accountants for the selling holders, underwriting discounts and
         commissions, and transfer taxes for selling holders and any other
         expenses relating to the sale of securities by the selling holders not
         expressly included above shall be borne by the selling holders.

                  (c) The Company shall indemnify Investor, its officers and
         directors and each person, if any, who controls Investor within the
         meaning of Section 15 of the Securities Act against all losses, claims,
         damages, and liabilities caused by any untrue statement or alleged
         untrue statement of a material fact contained in the registration
         statement or prospectus (and as amended or supplemented) relating to
         such registration, or caused by any omission or alleged omission to
         state a material fact required to be stated therein or necessary to
         make the statements therein not misleading in light of the
         circumstances under which they are made, unless such statement or
         omission was made in reliance upon and in conformity with information
         furnished in writing to the Company expressly for use therein by
         Investor.

                  (d) Investor shall indemnify the Company, its officers and
         directors and each person, if any, who controls the Company within the
         meaning of Section 15 of the Securities Act against all losses, claims,
         damages, and liabilities caused by any untrue statement or alleged
         untrue statement of a material fact contained in the registration
         statement or prospectus (and as amended or supplemented) relating to
         such registration, or caused by any omission or alleged omission to
         state a material fact required to be stated therein or necessary to
         make the statements therein not misleading in light of the
         circumstances under which they are made, provided that this paragraph
         (d) shall apply only to statements or omissions made in reliance upon
         and in conformity with information furnished in writing to the Company
         expressly for use therein by the Investor.

                  (e) The registration rights provided in this section shall
         apply to the Conversion Shares and the Warrant Shares of the surviving
         company received by the Investor as a result of the terms of the
         Reverse Merger.

         11. Other.

                  (a) This Agreement and the rights and obligations of the
         parties hereunder shall not be assignable, in whole or in part, by any
         party without the prior written consent of the other party, and neither
         this Agreement nor any provision hereof may be amended, modified,
         waived or discharged without the written consent of the party against
         whom enforcement of such amendment, modification, waiver, or discharge
         is sought.

                  (b) This Agreement, including the exhibits attached hereto,
         constitutes the entire agreement of the parties relative to the subject
         matter hereof and supersedes any and all other agreements and
         understandings, whether written or oral, relative to the matters
         discussed herein.

                  (c) This Agreement shall be construed and enforced in
         accordance with the laws of the State of Minnesota, except for its
         rules relating to conflicts of law.

                  (d) This Agreement may be executed in two or more
         counterparts, each of which shall be deemed an original, but all of
         which together shall constitute one and the same instrument.

                  (e) The Company agrees to reimburse Investor for up to $2,500
         of fees or expenses incurred by Investor in connection with this
         Agreement.

<PAGE>

         IN WITNESS WHEREOF, the undersigned have caused this Agreement to be
executed as of the date set forth above.

                                  CORVU CORPORATION

                                  By:

                                  Its:

                                  GILDEA MANAGEMENT COMPANY-THE NETWORK FUNDS

                                  By:

                                  Its:

                                  Address: ________________

                                  Tax I.D. No.:  ________________

<PAGE>
                                                                      EXHIBIT A

THIS NOTE, AND THE SHARES OF COMMON STOCK ISSUABLE UPON CONVERSION HEREOF, HAVE
NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE
STATE SECURITIES LAWS AND MAY NOT BE REOFFERED, SOLD, TRANSFERRED, PLEDGED, OR
OTHERWISE DISPOSED OF EXCEPT PURSUANT TO (1) REGISTRATION UNDER SUCH ACT OR LAWS
OR (2) AN OPINION OF COUNSEL FOR THE COMPANY OR OTHER COUNSEL REASONABLY
ACCEPTABLE TO THE COMPANY TO THE EFFECT THAT SUCH REGISTRATION IS NOT REQUIRED.

               SUBORDINATED UNSECURED CONVERTIBLE PROMISSORY NOTE

$250,000                                                 Minneapolis, Minnesota
                                                              November 15, 1999

         FOR VALUE RECEIVED, the undersigned, CorVu Corporation, a Minnesota
corporation (the "Company"), promises to pay to Gildea Management Company--The
Network Funds, or its permitted successors and assigns ("Holder"), at Holder's
address set forth in the Loan Agreement (as defined below), or such other place
as Holder may designate in writing from time to time, the principal sum of Two
Hundred and Fifty Thousand Dollars ($250,000), in lawful money of the United
States, together with simple interest from the date hereof on the unpaid
principal balance outstanding from time to time at the rate of ten percent (10%)
per year (calculated on the basis of the actual number of days elapsed and a
360-day year). The entire unpaid principal balance on this Note and accrued
interest thereon shall be due and payable on 120 days from the date first above
written, unless converted prior thereto pursuant to the terms hereof.

         1. Bridge Loan Agreement. This Note has been issued pursuant to the
terms and provisions of the Bridge Loan Agreement (the "Loan Agreement"), dated
as of __________________, between the Company and Holder, and this Note and
Holder are entitled to all the benefits provided for in the Loan Agreement.

         2. Prepayment. This Note may be prepaid at any time without penalty.

         3. Unsecured Note. This Note is unsecured and the Company and Holder
agree that this Note shall not be secured at any time in the future by a grant
of a security interest in any assets of the Company, whether or not those assets
are owned by the Company at this time or acquired by the Company on a date
subsequent to the date hereof. The provisions of this Section 3 are designed for
the benefit of the third party senior creditors as well as the Company and
Holder.

         4. Conversion of this Note.

                  (a) Automatic Conversion. To the extent the principal of this
         Note is outstanding on the closing of the Reverse Merger transaction,
         the entire principal outstanding on this Note and all accrued interest
         with respect to such principal shall be automatically converted into
         shares of common stock of the Company or the surviving corporation
         pursuant to the Reverse Merger at a price per share equal to Two
         Dollars and No Cents ($2.00), less any shares previously issued on
         partial conversion hereof pursuant to subsection (b) below, subject to
         the adjustment pursuant to sections 4(e) and 4(f) of the Note.

                  (b) Election to Convert. Notwithstanding the provisions set
         forth above, Investor may at any time, at its option, by written notice
         (the "Conversion Notice") to the Company, elect to convert all or any
         part of the entire outstanding principal amount of this Note plus a pro
         rata share of the accrued interest on the then outstanding balance into
         common stock of the Company at a price per share equal to Two Dollars
         and No Cents ($2.00) per share.

                  (c) Delivery of Conversion Shares. The Common Stock issued on
         conversion of this Note (the "Conversion Shares") shall be delivered as
         follows:

                  As promptly as practicable after conversion, the Company shall
                  deliver to Investor, or to such person or persons as are
                  designated by Investor in the Conversion Notice, a certificate
                  or certificates representing the number of shares of Common
                  Stock into which this Note or portion thereof is to be
                  converted in such name or names as are specified in the
                  Conversion Notice, together with, in the case of conversion of
                  the entire remaining principal balance hereof, any cash
                  payable in respect of a fractional share.

                  In the event that less than the entire outstanding principal
                  balance of this Note is converted hereunder, this Note shall
                  not be surrendered for cancellation but shall have the fact
                  and amount of conversion recorded on the face of this Note by
                  writing acknowledged by Investor and the Company. If less than
                  the entire principal balance of this Note is converted, the
                  amount of principal converted shall be reduced to the nearest
                  amount that results in no fractional shares.

                  (d) Reservation of Shares. The Company agrees that, during the
         period within which this Note may be converted, the Company will at all
         times have authorized and in reserve, and will keep available solely
         for delivery upon the conversion of this Note, common stock and other
         securities and properties as from time to time shall be receivable upon
         the conversion of this Note, free and clear of all restrictions on
         issuance, sale or transfer other than those imposed by law and free and
         clear of all pre-emptive rights. The Company agrees that the common
         stock represented by each and every Conversion Share delivered on the
         conversion of this Note shall, at the time of such delivery, be validly
         issued and outstanding, fully paid and non-assessable, and the Company
         will take all such action as may be necessary to assure that the stated
         value or par value per share of the common stock is at all times equal
         to or less than the Conversion Price.

                  (e) Protection Against Dilution. In case of any consolidation
         with or merger of the Company with or into another corporation (other
         than a merger or consolidation in which the Company is the surviving or
         continuing corporation), or in case of any sale, lease or conveyance to
         another corporation of the property of the Company as an entirety or
         substantially as an entirety, such successor, leasing or purchasing
         corporation, as the case may be, shall (i) execute with the Holder an
         agreement providing that the Holder shall have the right thereafter to
         receive upon conversion of this Note solely the kind and amount of
         shares of stock and other securities, property, cash or any combination
         thereof receivable upon such consolidation, merger, sale, lease or
         conveyance by a holder of the number of shares of Common Stock for
         which this Note might have been converted immediately prior to such
         consolidation, merger, sale, lease or conveyance, (ii) make effective
         provision in its articles of association or otherwise, if necessary, in
         order to effect such agreement, and (iii) set aside or reserve, for the
         benefit of the Holder, the stock, securities, property and cash to
         which the Holder would be entitled upon conversion of this Note.

                  (f) Additional Protection Against Dilution. If the Company (i)
         pays a dividend or makes a distribution on its Common Stock in shares
         of its Common Stock; (ii) subdivides its outstanding shares of Common
         Stock into a greater number of shares; (iii) combines its outstanding
         shares of Common Stock into a smaller number of shares; (iv) makes a
         distribution on its Common Stock in shares of its capital stock other
         than Common Stock or (v) issues by reclassification of its Common Stock
         any shares of its capital stock; then the conversion privilege and the
         Conversion Price in effect immediately prior to such action shall be
         adjusted so that the holder of this Note shall, upon conversion,
         receive the number of shares of capital stock which such holder would
         have owned immediately following such action if the Holder had
         converted the Note immediately prior to such action. The adjustment
         shall become effective immediately after the record date in the case of
         a dividend or distribution and immediately after the effective date in
         the case of a subdivision, combination or reclassification.

         5. Notification of Reverse Merger. The Company shall notify Holder of
the anticipated closing of the Reverse Merger at least three (3) business days
prior to the date thereof. 6. Subordination. The indebtedness evidenced by this
Note is and shall remain subordinate in right of payment to all Senior Debt to
the extent and in the manner hereinafter set forth. "Senior Debt" shall mean the
principal and interest on indebtedness of the Company to financial institutions
for borrowed money (other than the indebtedness evidenced by this Note), and for
purchase money loans secured by real estate or personal property used in
connection with the business of the Company, whether created, incurred or
assumed before or after the date hereof, except such as by its terms is
expressly not superior in right of payment of this Note, and renewals,
extensions and refundings of any such indebtedness. The subordination provisions
contained in this Section 6 are expressly and only for the benefit of third
party senior creditors of the Company and shall in no way limit the rights or
remedies of Holder against the Company.

No payment of principal or interest on this Note shall be made if the Company is
in default or breach, or such payment would result in a default or breach, with
respect to any Senior Debt. For purposes of this paragraph, default or breach
with respect to any Senior Debt shall refer to a failure of the Company (i) to
pay in full when due the principal of or interest or premium on any such Senior
Debt, or any portion thereof, according to its terms, or (ii) to be in
compliance with any covenant in any loan agreement, security agreement or
related agreement between the Company and the holder of such Senior Debt. Upon
any distribution of assets of the Company, upon dissolution, winding up,
liquidation or reorganization of the Company, whether in bankruptcy, insolvency
or receivership proceedings, or upon an assignment for the benefit of the
Company, or otherwise, Senior Debt shall first be paid in full, or provision
made for such payment in cash, before any payment is made on account of the
principal of or interest on this Note. In such events, upon payment in full of
all Senior Debt, Holder shall be subrogated ratably to all rights of such Senior
Debtors to receive payments or distributions of the assets of the Company
applicable to such Senior Debt until the principal of and interest on this Note
shall be paid in full. If Holder receives any payment on the indebtedness owed
to it by the Company as evidenced by this Note that Holder is not entitled to
receive under the provisions of this Note, Holder will hold the amount so
received in trust for the third party senior creditors and will turn over such
payment to the third party senior creditors in the form received (except for the
endorsement of Holder where necessary) for application to the then-existing
Senior Debt, whether or not due. If Holder exercises any right of setoff which
Holder is not permitted to exercise under the provisions of this Note, Holder
will promptly pay over to the third party senior creditors, in immediately
available funds, an amount equal to the amount of the claims or obligations
offset.

Notwithstanding the foregoing, payment of principal and interest on this Note
shall not be subordinated to the prior payment of such Senior Debt as to all
amounts which actually are paid by the Company under this Note if the Company is
not in default or breach with respect to any Senior Debt at the time or times
such payment or payments are made.

         7. Default. "Default" means any event which is, or after notice or
passage of time, or both, would be, an Event of Default. An "Event of Default"
occurs if:

                  (a) the Company fails to make any payment on this Note when
         the same becomes due and payable, and such default continues for a
         period of 15 days;

                  (b) the Company defaults in the payment of interest or
         principal on any Senior Debt and such Senior Debt shall, as a result
         thereof, have been accelerated (or comparable event shall have
         occurred) so that the same shall have become due and payable prior to
         the date on which the same would otherwise have become due and payable
         and such acceleration has been in effect without rescission or
         annulment for a period of 30 days; provided, however, that if such
         default in the payment of interest or principal on any Senior Debt
         shall be remedied or cured by the Company or waived by the holders of
         such Senior Debt, or if such acceleration shall have been rescinded or
         annulled by the holders of such Senior Debt, then, unless this Note
         shall have been accelerated as provided in this Note, the Event of
         Default hereunder by reason thereof shall be deemed likewise to have
         been thereupon remedied, cured or waived without further action upon
         the part of the Holder.

                  (c) proceedings under any bankruptcy or insolvency law or
         other law for the reorganization, arrangement, composition or similar
         relief or aid of debtors or creditors are commenced and such proceeding
         remain undismissed and unstayed for a period of 60 days following
         notice to the Company by the Holder.

                  (d) the Company is in material breach of any provision of this
         Note, which breach continues for more than 15 days following notice to
         the Company by the Holder.

If an Event of Default occurs and is continuing, the principal of and interest
on this Note shall become and be immediately due and payable without any
declaration or other act on the part of Holder.

Holder may waive an existing Default or Event of Default and its consequences.
When a Default or Event of Default is waived, it is cured and ceases.

         8. Expenses of Enforcement. The Company agrees to reimburse Holder upon
demand for all reasonable out-of-pocket expenses, including reasonable
attorneys' fees, in connection with Holder's enforcement of the Company's
obligations hereunder.

         9. Investment Intent. Holder, by acceptance hereof, agrees to give
written notice to the Company before transferring this Note of Holder's
intention to do so, describing briefly the manner of any proposed transfer of
this Note. Promptly upon receiving such written notice, the Company shall
present copies thereof to counsel for the Company. If, in the opinion of such
counsel, the proposed transfer of this Note may be effected without registration
or qualification (under any federal or state law) of this Note, the Company, as
promptly as practicable, shall notify Holder of such opinion, whereupon Holder
shall be entitled to transfer this Note, all in accordance with the terms of the
notice delivered by Holder to the Company, provided that an appropriate legend
in substantially the form set forth at the end of this Note respecting the
foregoing restrictions on transfer and disposition may be endorsed on this Note.

         10. Notices. All demands and notices to be given hereunder shall be
delivered or sent by certified mail, return receipt requested; in the case of
the Company, addressed to its corporate headquarters in Edina, Minnesota, and in
the case of Holder, addressed to the address written above, in either case,
until a new address shall have been substituted by like notice.

         11. Amendment. Neither this Note nor any term hereof may be changed,
waived, discharged or terminated orally but only by an instrument in writing
signed by the party against which enforcement of the change, waiver, discharge
or termination is sought.

         IN WITNESS WHEREOF, Company has caused this Note to be executed on its
behalf by its duly authorized officer on the day and year first above written.

                                              CORVU CORPORATION

                                              By:
                                                Its:

<PAGE>
                                                                      EXHIBIT B

THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR ANY
STATE SECURITIES LAWS AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED, OFFERED,
PLEDGED OR OTHEWISE DISTRIBUTED FOR VALUE UNLESS THERE IS AN EFFECTIVE
REGISTRATION STATEMENT UNDER SUCH ACT OR LAWS COVERING SUCH SECURITY OR THE
COMPANY RECEIVES AN OPINION OF COUNSEL FOR THE HOLDER OF THIS SECURITY
(CONCURRED TO BY COUNSEL FOR THE COMPANY) STATING THAT SUCH SALE, TRANSFER,
ASSIGNMENT, PLEDGE OR DISTRIBUTION IS EXEMPT FROM THE REGISTRATION AND
PROSPECTUS DELIVERY REQUIREMENTS OF THE SECUERITIES ACT OF 1933 AND ALL
APPLICABLE STATE SECURITIES LAWS.

                                     WARRANT
                                       FOR
                             SHARES OF COMMON STYOCK
                                       OF
                                CORVU CORPORATION

         FOR VALUE RECEIVED, Gildea Management Company-The Network Funds or its
successors or assigns ("Holder"), is hereby entitled to subscribe for and
purchase from CorVu Corporation, a Minnesota corporation (the "Company"), up to
Two Hundred and Twenty-Five Thousand (225,000) fully paid and non assessable
shares (the "Warrant Shares") of the Company's Common Stock, par value $.01 per
share (the "Common Stock") at an exercise price per share equal to $.01 per
share (the "Warrant Exercise Price").

         This warrant may be exercised by Investor at any time prior to five
year anniversary of the date hereof.

         This warrant is subject to the following provisions, terms and
conditions:

         1. (a) The rights represented by this warrant may be exercised by
Holder, in whole or in part, by written notice of exercise substantially in the
form attached hereto delivered to the company at least twenty (20) days prior to
the intended date of exercise and by the surrender of this warrant (properly
endorsed if required) at the principal office of the Company and upon Holder's
payment to the Company by cash, certified check or bank draft of the purchase
price for such shares or by exercise of the Conversion Right as provided in (b)
below. The Warrant Shares so purchased shall be deemed to be issued as the close
of business on the date on which this warrant has been exercised by payment to
the Company of the Warrant Exercise Price, unless the Conversion Right has been
exercised. Certificates for the shares of stock so purchased, bearing the
restrictive legend set forth at the end of this warrant, shall be delivered to
the holder within fifteen (15) days after the rights represented by this warrant
shall have been so exercised, and, unless this warrant has expired, a new
warrant representing the number of Warrant Shares, if any, with respect to which
this warrant has not been exercised shall also be delivered to the Holder hereof
within such time. No fractional shares shall be issued upon the exercise of this
warrant.

                  (b) In lieu of payment, the rights represented by this warrant
may also be exercised by a written notice of exercise specifying that Holder
wishes to convert all of this warrant (the "Conversion Right") into that number
of shares of Common Stock equal to the quotient obtained by dividing (x) the
value of the shares subject to the warrant (determined by subtracting the
aggregate warrant exercise price in effect immediately prior to the exercise of
the Conversion Right from the aggregate fair market value of the shares of
Common Stock issuable upon exercise of this warrant immediately prior to the
exercise of the Conversion Right) by (y) the fair market value of one share of
Common Stock immediately prior to the exercise of the Conversion Right. For
purposes of this section 1(b), the fair market value of a share of Common Stock
as of a particular date (the "Determination Date") shall; mean:

                           (i) If the company's Common Stock is traded on an
         exchange or is quoted on the Nasdaq Stock Market, then the closing or
         last sale price, respectively, reported for the business day
         immediately preceding the Determination Date.

                           (ii) If the company's Common Stock is not traded on
         an exchange or on the Nasdaq Stock Market, then the mean of the closing
         high bid and low asked prices reported for the business day immediately
         preceding the Determination Date.

         2. The Company covenants and agrees that all Warrant Shares that may be
issued upon the exercise of the rights represented by this warrant shall, upon
issuance, be duly authorized and issued, fully paid and nonassessable shares.
The Company further covenants and agrees that during the period within which the
rights represented by this warrant may be exercised, the Company will at all
times have authorized, and reserved for the purpose of issue or transfer upon
exercise of the subscription rights evidenced by this warrant, a sufficient
number of shares of its Common Stock to provide for the exercise of the rights
represented by this warrant.

         3. The Warrant Exercise Price and the number of Warrant Shares shall be
subject to adjustment from time to time as provided in this Section 3.

                  (a) If the Company at any time divides the outstanding shares
of its Common Stock into a greater number of shares (whether pursuant to a stock
split, stock dividend or otherwise), and conversely, if the outstanding shares
of its common Stock are combined into a smaller number of shares, the Warrant
Exercise Price in effect immediately prior to such division or combination shall
be proportionately adjusted to reflect the reduction or increase in the value of
each such share.

                  (b) If any capital reorganization or reclassification of the
capital stock of the Company, or consolidation or merger of the Company with
another corporation, or the sale of all or substantially all of its assets to
another corporation shall be effected in such a way that holders of the
Company's Common Stock shall be entitled to receive stock, securities or assets
with respect to or in exchange for such shares, then, as a condition of such
reorganization, reclassification, consolidation, merger or sale, Holder shall
have the right to purchase and receive upon the basis and upon the terms and
conditions specified in this warrant and in lieu of the shares of the Common
Stock of the Company immediately theretofore purchasable and receivable upon the
exercise of the rights represented hereby, such shares of stock, other
securities or assets as would have been issued or delivered to Holder if it had
exercised this warrant and had received such shares of Common Stock prior to
such reorganization, reclassification, consolidation, merger or sale. The
Company shall not effect any such consolidation, merger or sale, unless prior to
the consummation thereof the successor corporation (if other than the Company)
resulting from such consolidation or merger or the corporation purchasing such
assets shall assume by written instrument executed and mailed to Holder at the
last address of Holder appearing on the books of the Company, the obligation to
deliver to Holder such shares of stock, securities or assets as, in accordance
with the foregoing provisions, Holder may be entitled to purchase.

                  (c) Upon each adjustment of the Warrant Exercise Price, Holder
shall thereafter be entitled to purchase, at the Warrant Exercise Price
resulting from such adjustment, the number of shares obtained by multiplying the
Warrant Exercise Price in effect immediately prior to such adjustment by the
number of shares purchasable pursuant hereto immediately prior to such
adjustment and dividing the product thereof by the Warrant Exercise Price
resulting from such adjustment.

                  (d) Upon any adjustment of the Warrant Exercise Price, the
Company shall give written notice thereof, by first class mail, postage prepaid,
addressed to the registered holder of this warrant at the address of such holder
as shown on the books of the Company, which notice shall state the Warrant
Exercise Price resulting from such adjustment and the increase or decrease, if
any, in the number of shares purchasable at such price upon the exercise of this
warrant, setting forth in reasonable detail the method of calculation and the
facts upon which such calculation is based.

                  (e) This Warrant is issued in connection with a certain Bridge
Loan Agreement between the Company and the Holder and a Subordinated Unsecured
Promissory Note made by the company in favor of Holder, each dated as of the
date hereof. In addition to the foregoing adjustments, if the Company fails to
pay such Subordinated Unsecured Promissory Note when due, the number of shares
of Common Stock which Holder shall be entitled to purchase under this Warrant
shall be increased by 12,500, and further increase by an additional 12,500
shares for each 60-0day period thereafter that such Subordinated Unsecured
Promissory Note remains unpaid. Any adjustment pursuant to this subjection (e)
shall not affect the Warrant Exercise Price.

         4. This Warrant shall not entitle Holder to any voting rights or other
rights as a shareholder of the Company.

         5. Holder, by acceptance hereof, agrees to give written notice to the
Company before transferring this warrant or transferring any Warrant Shares of
Holder's intention to do so, describing briefly the manner of any proposed
transfer of this warrant or such Warrant Shares. Promptly upon receiving such
written notice, the Company shall present copies thereof to counsel for the
Company. If, in the opinion of such counsel, the proposed transfer of this
warrant or disposition of Warrant Shares may be effected without registration or
qualification (under any federal or state law) of this warrant or the Warrant
Shares, the Company, as promptly as practicable, shall notify Holder of such
opinion, whereupon Holder shall be entitled to transfer this warrant or such
Warrant Shares, all in accordance with the terms of the notice delivered by
Holder to the Company, provided that an appropriate legend in substantially the
form set forth at the end of this warrant respecting the foregoing restrictions
on transfer and disposition may be endorsed on this warrant or the certificates
for such Warrant Shares.

         6. Subject to the provision of Section 5, this warrant and all rights
hereunder are transferable, in whole or in part, at the principal office of the
Company by Holder in person or by duly authorized attorney, upon surrender of
this warrant properly endorsed to any person or entity who represents in writing
that he/it is acquiring the warrant for investment and without any view to the
sale or other distribution thereof. Holder, by taking or holding this warrant,
consents and agrees that the bearer of this warrant, when endorsed, may be
treated by the Company and all other persons dealing with this warrant as the
absolute owner hereof for any purpose and as the person entitled to exercise the
rights represented by this warrant, or to the transfer hereof on the books of
the Company, any notice to the contrary notwithstanding; but until such transfer
on such books, the Company may treat the registered owner hereof as the owner
for all purposes.

         7. Neither this warrant nor any term hereof my be changed, waived,
discharged or terminated orally but only by an instrument in writing signed by
the party against which enforcement of the change, waiver discharge or
termination is sought.

         8. Section 10 of the Bride Loan Agreement, dated as of the date hereof,
between the Company and Holder contains certain registration rights applicable
to the Warrant Shares.

         IN WITNESS WHEREOF, the Company has caused this warrant to be signed
and delivered by a duly authorized officer as of the 15th day of November, 1999.

                                         CORVU CORPORATION

                                         By:
                                         Its:

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