Document:

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                                                                   EXHIBIT 10.10

                          MELLON FINANCIAL CORPORATION
                          ----------------------------

                       ELECTIVE DEFERRED COMPENSATION PLAN
                       -----------------------------------

                               FOR SENIOR OFFICERS
                               -------------------

                 Amended and Restated Effective January 1, 1997
                      Amended Effective September 15, 1998
                       Amended Effective January 15, 1999
                        Amended Effective January 1, 2002

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                                TABLE OF CONTENTS
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                                                                            PAGE
                                                                            ----
<S>                                                                         <C>
PREAMBLE ..................................................................    1

ARTICLE I .................................................................    1

     DEFINITIONS ..........................................................    1

           1.1      Account ...............................................    1
           1.2      Beneficiary ...........................................    1
           1.3      Board .................................................    1
           1.4      Committee .............................................    1
           1.5      Company ...............................................    2
           1.6      Continuous Service ....................................    2
           1.7      Declared Rate .........................................    2
           1.8      Deferral Commitment....................................    2
           1.9      Deferral Election .....................................    2
           1.10     Disability ............................................    2
           1.11     Early Distribution Account ............................    2
           1.12     Early Retirement ......................................    2
           1.13     Effective Date ........................................    2
           1.14     Elective Deferred Compensation ........................    2
           1.15     Employer ..............................................    2
           1.16     Enrollment Period .....................................    2
           1.17     Financial Hardship ....................................    2
           1.18     Head of the Human Resources Department ................    2
           1.19     Normal Distribution Account ...........................    3
           1.20     Normal Retirement .....................................    3
           1.21     Participant ...........................................    3
           1.22     Plan ..................................................    3
           1.23     Plan Year .............................................    3
           1.24     Prior Plan ............................................    3
           1.25     Retirement Plan .......................................    3
           1.26     Retirement Plan Make-up Account .......................    3
           1.27     Retirement Savings Plan ...............................    3
           1.28     Retirement Savings Plan Augmentation Account ..........    3
           1.29     Special Distribution Account ..........................    3
           1.30     Subsidiary ............................................    3
           1.31     Termination of Employment .............................    3
           1.32     T-Note Rate ...........................................    3
           1.33     Valuation Date ........................................    4
           1.34     Variable Fund Options .................................    4
           1.35     Window Period .........................................    4

ARTICLE II ................................................................    4

     ADMINISTRATION .......................................................    4

           2.1      Administrator .........................................    4
           2.2      Powers and Duties .....................................    4
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                                      (i)

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<S>                                                                           <C>
           2.3     Procedures .............................................    5
           2.4     Establishment of Rules .................................    5
           2.5     Limitation of Liability ................................    5
           2.6     Compensation and Insurance .............................    5
           2.7     Removal and Resignation ................................    6
           2.8     Claims Procedure .......................................    6

ARTICLE III ...............................................................    6

     PARTICIPATION AND DEFERRAL COMMITMENTS ...............................    6

           3.1     Eligibility and Participation ..........................    6
           3.2     Duration of Deferral Commitment ........................    6
           3.3     Basic Forms of Deferral ................................    7
           3.4     Limitations on Deferrals ...............................    7
           3.5     Modification of Deferral Commitments on
                   Financial Hardship .....................................    7
           3.6     Commencement of Deferral Commitment ....................    7
           3.7     Termination of Prior Plan Deferral Commitments .........    7

ARTICLE IV ................................................................    8

     DEFERRED COMPENSATION ACCOUNTS .......................................    8

           4.1     Accounts ...............................................    8
           4.2     Elective Deferred Compensation .........................    8
           4.3     Crediting Rate .........................................    8
           4.4     Valuation of Accounts ..................................    9
           4.5     Vesting of Accounts ....................................    9
           4.6     Statement of Accounts ..................................    9
           4.7     Retirement Plan Make-Up ................................    9
           4.8     Retirement Savings Plan Make-Up ........................   11
           4.9     Retirement Plan and Retirement Savings
                   Plan Offsets ...........................................   11

ARTICLE V .................................................................   12

     PLAN BENEFITS ........................................................   12

           5.1     Plan Benefit ...........................................   12
           5.2     Normal Distribution Account ............................   12
           5.3     Form of Benefit Payment Upon Termination
                   of Employment ..........................................   14
           5.4     Survivor Benefits ......................................   14
           5.5     Early Distribution Account .............................   16
           5.6     Hardship Distributions .................................   17
           5.7     Disability .............................................   17
           5.8     Valuation and Settlement ...............................   18
           5.9     Change in Control and Unscheduled Distributions ........   18
           5.10    Continuous Service .....................................   19
           5.11    Distributions from General Assets ......................   20
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<S>                                                                           <C>
            5.12      Withholding and Payroll Taxes .......................   20
            5.13      Payment to Guardian .................................   20
            5.14      Small Benefit .......................................   20
            5.15      Protective Provisions ...............................   20
            5.16      Notices and Elections ...............................   20
            5.17      Special Distribution Accounts .......................   21

ARTICLE VI ................................................................   21

     DESIGNATION OF BENEFICIARY ...........................................   21

            6.1       Designation of Beneficiary ..........................   21
            6.2       Failure to Designate Beneficiary ....................   21

ARTICLE VII ...............................................................   21

     FORFEITURES TO COMPANY ...............................................   21

            7.1       Distribution of Participant's Interest
                      When Company is Unable to Locate
                      Distributees ........................................   21

ARTICLE VIII ..............................................................   21

     MAINTENANCE OF ACCOUNTS ..............................................   21

ARTICLE IX ................................................................   22

     AMENDMENT AND TERMINATION OF THE PLAN ................................   22

            9.1       Amendment ...........................................   22
            9.2       Company's Right to Terminate ........................   22

ARTICLE X .................................................................   23

     SPENDTHRIFT PROVISIONS ...............................................   23

ARTICLE XI ................................................................   23

     MISCELLANEOUS ........................................................   23

           11.1       Right of Employers to Dismiss Employees;
                      Obligations .........................................   23
           11.2       Title to and Ownership of Assets Held
                      for Accounts ........................................   23
           11.3       Nature of Liability to Participants .................   23
           11.4       Text of Plan to Control .............................   23
           11.5       Law Governing and Severability ......................   23
           11.6       Name ................................................   24
           11.7       Gender ..............................................   24
           11.8       Trust Fund ..........................................   24
           11.9       Ineligible Participant ..............................   24
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                                      (iii)

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                          MELLON FINANCIAL CORPORATION
                          -----------------------------
                       ELECTIVE DEFERRED COMPENSATION PLAN
                       -----------------------------------
                               FOR SENIOR OFFICERS
                               -------------------
                  (Amended and Restated as of January 1, 1997)

                                    PREAMBLE
                                    --------

The purpose of this Elective Deferred Compensation Plan For Senior Officers (the
"Plan") is to provide opportunities for a select group of management or highly
compensated employees of Mellon Financial Corporation (the "Company") and its
Subsidiaries to accumulate supplemental funds for retirement, special needs
prior to retirement, or death. The Plan was originally effective as of November
1, 1989. This amended and restated Plan shall only apply to Participants who are
employed by the Company or its Subsidiaries after January 1, 1997. The Plan as
previously in effect shall apply to all Participants who terminated employment
with the Company or its Subsidiaries for any reason prior to such date.

The Company hereby declares that its intention is to create an unfunded Plan
primarily for the purpose of providing a select group of management or highly
compensated employees of the Company and of its affiliated organizations with
deferred compensation in accordance with their individual elections. It is also
the intention of the Company that the Plan be an "employee pension benefit plan"
as defined in Section 3(2) of Title I of the Employee Retirement Income Security
Act of 1974 ("ERISA") and that the Plan be the type of plan described in
Sections 201(2), 301(3) and 401(a)(1) of Title I of ERISA. The Corporate
Benefits Committee ("Committee" or "CBC") shall be the administrator responsible
for fulfilling the duties and responsibilities imposed upon "administrators" of
plans subject to Parts 1 and 5 of Title 1 of ERISA.

                                    ARTICLE I
                                   DEFINITIONS
                                   -----------

When used herein, the following words shall have the following meanings unless
the content clearly indicates otherwise:

1.1 Account. "Account" means the record-keeping device used by the Company to
    -------
measure and determine the amounts to be paid to a Participant under the Plan.
Separate Accounts will be established for each Participant and as may otherwise
be required.

1.2 Beneficiary. "Beneficiary" means the person who under this Plan becomes
    -----------
entitled to receive a Participant's interest in the event of his or her death.

1.3 Board. "Board" means the Board of Directors of the Company or any committee
    -----
thereof acting within the scope of its authority.

1.4 Committee. "Committee" means the Corporate Benefits Committee appointed to
    ---------
administer the Plan pursuant to Article II.

                                      -1-

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1.5  Company. "Company" means Mellon Financial Corporation, a Pennsylvania
     -------
corporation, and any successor in interest.

1.6  Continuous Service. "Continuous Service" means the period of continuous
     ------------------
employment of a Participant by an Employer determined in accordance with Section
5.10 and may, in the discretion of the Committee, include prior service with an
entity acquired by the Company.

1.7  Declared Rate. "Declared Rate" means the greater of 7.5% or the T-Note Rate
     -------------
that is applicable to the Plan Year.

1.8  Deferral Commitment. "Deferral Commitment" means a commitment made by a
     -------------------
Participant pursuant to Article III for which a Deferral Election has been
submitted by the Participant to the Committee.

1.9  Deferral Election. "Deferral Election" means the written agreement to defer
     -----------------
receipt of compensation submitted by a Participant to the Committee or its
delegates prior to the commencement of the period in which the deferred
compensation is to be earned.

1.10 Disability. "Disability" means total and permanent incapacity of a
     ----------
Participant to perform the usual duties of his or her employment with his or her
Employer as determined by his or her Employer based upon competent medical
evidence. If a Participant makes application for disability benefits under the
Employer's group long term disability plan, as now in effect or as hereafter
amended, and qualifies for such benefits, he shall be presumed to be totally
disabled, subject to the Employer's determination that the disability is such
that it may be regarded as total and permanent in nature.

1.11 Early Distribution Account. "Early Distribution Account" means an account
     --------------------------
established pursuant to Section 5.5 which provides for distribution of a benefit
prior to a Participant's Termination of Employment.

1.12 Early Retirement. "Early Retirement" means Termination of Employment of a
     ----------------
Participant, other than by reason of death, on or after the date on which the
Participant has attained age fifty-five (55), but has not yet attained age
sixty-five (65).

1.13 Effective Date. "Effective Date" of this amended and restated Plan means
     --------------
January 1, 1997. The Plan originally became effective on November 1, 1989.

1.14 Elective Deferred Compensation. "Elective Deferred Compensation" means the
     ------------------------------
amount of compensation that a Participant elects to defer pursuant to a Deferral
Commitment.

1.15 Employer.  "Employer" means the Company or one of its Subsidiaries.
     --------

1.16 Enrollment Period. "Enrollment Period" means an annual fall enrollment
     -----------------
period during which eligible employees may file new or amended Deferral
Elections.

1.17 Financial Hardship. "Financial Hardship" means an immediate and substantial
     ------------------
financial need of the Participant or Beneficiary, determined by the Committee on
the basis of written information supplied by the Participant in accordance with
such standards as are, from time to time, established by the Committee.

1.18 Head of the Human Resources Department. "Head of the Human Resources
     --------------------------------------
Department" means the head of the Mellon Financial Corporation Human Resources
Department.

                                      -2-

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1.19 Normal Distribution Account. "Normal Distribution Account" means an Account
     ---------------------------
established pursuant to Section 5.2 which provides for distribution of a benefit
following Early Retirement or Normal Retirement.

1.20 Normal Retirement. "Normal Retirement" means Termination of Employment of a
     -----------------
Participant, other than by reason of death, on or after the date on which the
Participant has attained age sixty-five (65).

1.21 Participant. "Participant" means any eligible individual who is
     -----------
participating in this Plan as provided in Article III.

1.22 Plan. "Plan" means this "Elective Deferred Compensation Plan for Senior
     ----
Officers" as set forth in this document and as the same may be amended,
administered or interpreted from time to time.

1.23 Plan Year. "Plan Year" means each calendar year beginning on January 1 and
     ---------
ending on December 31.

1.24 Prior Plan. "Prior Plan" means this Plan as it existed prior to the
     ----------
amendment and restatement that became effective as of January 1, 1997.

1.25 Retirement Plan. "Retirement Plan" means the Mellon Bank Retirement Plan,
     ---------------
the Dreyfus Corporation Pension Plan and the Boston Company Retirement Income
Plan, as presently constituted and as amended from time to time.

1.26 Retirement Plan Make-Up Account. "Retirement Plan Make-Up Account" means an
     -------------------------------
account established pursuant to Section 4.7 to enable a Participant to receive
benefits that are lost under the Retirement Plan as the result of deferrals
under this Plan.

1.27 Retirement Savings Plan. "Retirement Savings Plan" means the Mellon 401(k)
     -----------------------
Retirement Savings Plan, as presently constituted and as amended from time to
time.

1.28 Retirement Savings Plan Augmentation Account. "Retirement Savings Plan
     --------------------------------------------
Augmentation Account" means an account established pursuant to Section 4.8 to
enable a Participant to receive Employer matching contributions that are lost
under the Retirement Savings Plan as a result of deferrals under this Plan.

1.29 Special Distribution Account. "Special Distribution Account" means an
     ----------------------------
Account established for any Elective Deferred Compensation (plus earnings
thereon) earned prior to January 1, 1997, which the Participant elected to have
distributed while employed.

1.30 Subsidiary. "Subsidiary" means an entity controlled, directly or
     ----------
indirectly, by the Company.

1.31 Termination of Employment. "Termination of Employment" means termination of
     -------------------------
a Participant's employment with all Employers and the end of any contract and
severance pay period.

1.32 T-Note Rate. "T-Note Rate" means for each Plan Year the interest rate that
     -----------
is equivalent to an effective annual yield equal to the 120 month rolling
average of ten-year United States Treasury Notes as of the July 31 preceding the
applicable Plan Year. This rate will be determined once each year by an outside
source selected by the Company.

                                      -3-

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1.33 Valuation Date. "Valuation Date" means the last day of each month, or such
     --------------
other dates as the Committee may determine in its discretion, which may be
either more or less frequent, for the valuation of Participants' Accounts.

1.34 Variable Fund Options. "Variable Fund Options" means the variable rate
     ---------------------
investment fund alternatives approved by the Committee and offered to
Participants for that Plan Year.

1.35 Window Period. "Window Period" means a period of thirty calendar days which
     -------------
begins on the third business day following the date of release of annual or
quarterly earnings of the Company, or such other period as the Committee may
determine in its discretion.

                                   ARTICLE II
                                 ADMINISTRATION
                                 --------------

2.1 Administrator. Except as hereinafter provided, the Committee shall be
    -------------
responsible for the administrative responsibilities hereinafter described with
respect to the Plan. Whenever any action is required or permitted to be taken in
the administration of the Plan, the Committee shall take such action unless the
Committee's power is expressly limited herein or by operation of law. The
Committee shall be the Plan "Administrator" (as such term is defined in Section
3(16)(A) of ERISA). The Committee may delegate its duties and responsibilities
as it, in its sole discretion, deems necessary or appropriate to the execution
of such duties and responsibilities. The Committee as a whole or any of its
members may serve in more than one capacity with respect to the Plan.

2.2 Powers and Duties. The Committee, or its delegates, shall maintain and keep
    -----------------
(or cause to be maintained and kept) such records as are necessary for the
efficient operation of the Plan or as may be required by any applicable law,
regulation, or ruling and shall provide for the preparation and filing of such
forms, reports, information, and documents as may be required to be filed with
any governmental agency or department and with the Plan's Participants and/or
other Beneficiaries.

Except to the extent expressly reserved to the Company, an Employer or the
Board, the Committee shall have all powers necessary to carry out the
administrative provisions of the Plan and to satisfy the requirements of any
applicable law or laws. These powers shall include, by way of illustration and
not limitation, the exclusive powers and discretionary authority necessary to:

     (a) construe and interpret the Plan; decide all questions of eligibility;
     decide all questions of fact relating to claims for benefits; and determine
     the amount, time, manner, method, and mode of payment of any benefits
     hereunder;

     (b) direct the Employer, and/or the trustee of any trust established at the
     discretion of the Company to provide for the payment of benefits under the
     Plan, concerning the amount, time, manner, method, and mode of payment of
     any benefits hereunder;

     (c) prescribe procedures to be followed and forms to be used by
     Participants and/or other persons in filing applications or elections;

     (d) prepare and distribute, in such manner as may be required by law or as
     the Committee deems appropriate, information explaining the Plan; provided,
     however, that no such explanation shall contravene the terms of this Plan
     or increase the rights of any Participant or Beneficiary or the liabilities
     of the Company or any Employer;

                                      -4-

<PAGE>

     (e)  require from the Employer and Participants such information as shall
     be necessary for the proper administration of the Plan;

     (f)  appoint and retain individuals to assist in the administration and
     construction of the Plan, including such legal, clerical, accounting, and
     actuarial services as it may require or as may be required by any
     applicable law or laws;

     (g)  approve the funds that will be offered as the Variable Fund Options
     for any Plan Year; and

     (h)  perform all functions otherwise imposed upon a plan administrator by
     ERISA which are not expressly reserved to the Company, an Employer, or the
     Board, including, but not limited to, those supplemental duties and
     responsibilities described in the "Mellon Financial Corporation Corporate
     Benefits Committee Charter and Summary of Operations" approved by the Board
     on September 17, 1991 (the "CBC Charter").

Without intending to limit the generality of the foregoing, the Committee shall
have the power to amend the Plan, in whole or in part, in order to comply with
applicable law; provided, however, that no such amendment may increase the
duties and obligations of any Employer without the consent of the affected
Employer(s). Except as provided in the preceding sentence or unless directed by
the Human Resources Committee of the Board or otherwise required by law, the
Committee shall have no power to adopt, amend, or terminate the Plan, said
powers being exclusively reserved to the Human Resources Committee of the Board.

2.3 Procedures. The Committee shall be organized and conduct its business with
    ----------
respect to the Plan in accordance with the organizational and procedural rules
set forth in the CBC Charter.

Notwithstanding the foregoing, if any member of the Committee shall be a
Participant hereunder, then in any matters affecting any member of the Committee
in his or her individual capacity as a Participant hereunder, separate and apart
from his or her status as a member of the group of Participants, such interested
member shall have no authority to vote in the determination of such matters as a
member of the Committee, but the Committee shall determine such matter as if
said interested member were not a member of the Committee; provided, however,
that this shall not be deemed to take from said interested member any of his or
her rights hereunder as a Participant. If the remaining members of the Committee
should be unable to agree on any matter so affecting an interested member
because of an equal division of voting, the Human Resources Committee of the
Board shall appoint a temporary member of the Committee in order to create an
odd number of voting members.

2.4 Establishment of Rules. The Committee shall have specific authority in its
    ----------------------
sole discretion to construe and interpret the terms of the Plan related to its
powers and duties, and to the extent that the terms of the Plan are incomplete,
the Committee shall have authority to establish such rules or regulations
related to its powers and duties as it may deem necessary and proper to carry
out the intent of the Company as to the purposes of the Plan.

2.5 Limitation of Liability. The Board, the members of the Committee, and any
    -----------------------
officer, employee, or agent of the Company or any Employer shall not incur any
liability individually or on behalf of any other individuals or on behalf of the
Company or any Employer for any act, or failure to act, made in good faith in
relation to the Plan. No bond or other security shall be required of any such
individual solely on account of any such individual's power to direct the
Employer to make the payments required hereunder.

2.6 Compensation and Insurance. Members of the Committee shall serve without
    --------------------------
compensation for their services as such. Expenses incurred by members of the
Committee in the performance

                                      -5-

<PAGE>

of their duties as herein provided, and the compensation and expenses of persons
retained or employed by the Committee for services rendered in connection with
the Plan shall, upon approval by the Committee, be paid or reimbursed by the
Company.

The Company shall indemnify and/or maintain and keep in force insurance in such
form and amount as may be necessary in order to protect the members of the
Committee, their delegates and appointees (other than persons who are
independent of the Company and are rendering services to the Committee or to or
with respect to the Plan) from any claim, loss, damage, liability, and expense
(including costs and attorneys' fees) arising from their acts or failures to act
with respect to the Plan, except where such actions or failures to act involve
willful misconduct or gross negligence.

2.7  Removal and Resignation. Any member of the Committee may resign and the
     -----------------------
Company may remove any member of the Committee in accordance with the procedures
established by the CBC Charter. The Committee shall remain fully operative
pending the filling of any vacancies, the remaining Committee members having
full authority to administer the Plan.

2.8  Claims Procedure. The right of any Participant or Beneficiary to receive a
     ----------------
benefit hereunder and the amount of such benefit shall be determined in
accordance with the procedures for determination of benefit claims established
and maintained by the Committee in compliance with the requirements of Section
503 of ERISA; which separate procedures, entitled Procedures for Determination
of Benefit Claims, are incorporated herein by this reference.

                                   ARTICLE III
                     PARTICIPATION AND DEFERRAL COMMITMENTS
                     --------------------------------------

3.1  Eligibility and Participation.
     -----------------------------

     (a) Eligibility. Eligibility to make a Deferral Commitment shall be limited
         -----------
     to senior officers of the Company or its Subsidiaries as determined by the
     Human Resources Committee of the Board.

     (b) Participation. An eligible individual may elect to participate in the
         -------------
     Plan by submitting a Deferral Election to the Committee or its delegates
     during the Enrollment Period preceding the commencement of the period in
     which the deferred compensation is to be earned. The Deferral Election
     shall specify whether the deferred compensation shall be credited to a
     Normal Distribution Account or an Early Distribution Account for the
     Participant.

3.2  Duration of Deferral Commitment.
     -------------------------------

     (a) A Deferral Commitment for a Normal Distribution Account or an Early
     Distribution Account shall continue in effect until the Participant files a
     subsequent Deferral Election changing the amount of or stopping such
     Deferral Commitment.

     (b) A Deferral Commitment for an Early Distribution Account shall terminate
     at the end of the Plan Year preceding the Plan Year that the Participant
     has selected for distribution of such Account.

     (c) Except as provided in Sections 5.6 and 5.9 below, a subsequent Deferral
     Election shall become effective beginning with the next Plan Year following
     the date it is filed. A subsequent Deferral Election shall not apply to any
     deferrals that represent payments for

                                      -6-

<PAGE>

     services performed prior to the beginning of the first Plan Year to which
     it applies, but otherwise shall apply to all future deferrals covered by
     the Deferral Commitment.

     (d) A Participant's Deferral Commitments shall terminate upon the
     Participant's Termination of Employment.

3.3  Basic Forms of Deferral. A Participant may file a Deferral Election to
     -----------------------
defer any or all of the following forms of compensation:

     (a) Salary Deferrals. A Participant may elect to defer a portion of base
         ----------------
     salary. The amount to be deferred shall be stated as a whole number
     percentage or dollar amount of base salary.

     (b) Bonus Deferrals. A Participant may elect to defer annual cash
         ---------------
     bonus/incentive amounts to be paid by the Employer. The amount to be
     deferred shall be stated as a whole number percentage or dollar amount of
     such cash bonus.

     (c) Special Deferrals. A Participant may elect any special Deferral
         -----------------
     Commitment that is authorized by the Head of the Human Resources Department
     in his or her discretion.

3.4  Limitations on Deferrals.  The following limitations on deferrals shall
     ------------------------
apply:

     (a) Minimum Deferrals. The minimum deferral amount for each of the basic
         -----------------
     forms of deferral in Section 3.3 (a), (b) or (c) above is $2,000 for any
     Plan Year.

     (b) Maximum Deferrals. A Participant may not defer during any Plan Year any
         -----------------
     amount of base salary that is below the contribution and benefit base under
     Section 230 of the Social Security Act, in effect on the first day of the
     Plan Year.

     (c) Waiver; Committee Discretion. The Committee may further limit the
         ----------------------------
     minimum or maximum amount deferred by any Participant or group of
     Participants, or waive the foregoing minimum and maximum limits for any
     Participant or group of Participants, for any reason.

3.5  Modification of Deferral Commitments on Financial Hardship. The Committee
     ----------------------------------------------------------
may permit a Participant to reduce the amount to be deferred, or waive the
remainder of the Deferral Commitment, upon a finding that the Participant has
suffered a Financial Hardship.

3.6  Commencement of Deferral Commitment. A Deferral Commitment shall be deemed
     -----------------------------------
to commence as of the first day of the Plan Year covered by the Deferral
Election for such Deferral Commitment. A Participant's Beneficiary will be
entitled to receive pre-retirement survivor benefits pursuant to Section 5.4(a)
with respect to the Deferral Commitment only in the event of the Participant's
death while in employment with an Employer on or after such date.

3.7  Termination of Prior Plan Deferral Commitments.  All Deferral Commitments
     ----------------------------------------------
established under the Prior Plan shall terminate on December 31, 1996.

                                      -7-

<PAGE>

                                   ARTICLE IV
                         DEFERRED COMPENSATION ACCOUNTS
                         ------------------------------

4.1 Accounts. For record-keeping purposes only, Normal Distribution, Early
    --------
Distribution and Special Distribution Accounts shall be maintained as applicable
for each Participant's Elective Deferred Compensation. Accounts shall be deemed
to be credited with notional gains or losses as provided in Section 4.3 from the
date of deferral through the Valuation Date.

4.2 Elective Deferred Compensation. A Participant's Elective Deferred
    ------------------------------
Compensation shall be credited to the Participant's Account(s) as of the date
when the corresponding non-deferred portion of the compensation is paid or would
have been paid but for the Deferral Commitment. Any withholding of taxes or
other amounts with respect to deferred compensation that is required by federal,
state or local law shall be withheld from the Participant's non-deferred
compensation to the maximum extent possible with any excess being withheld from
the Participant's Deferral Commitment or Account(s).

4.3 Crediting Rate. Accounts shall be credited with earnings and losses as of
    --------------
each Valuation Date from the dates when deferred amounts are credited to
Accounts based on the balance of each Account. Earnings and losses credited to
each Account shall be based on the Participant's choices among the Declared Rate
and the Variable Fund Options, subject to the terms of this Section. On and
after January 1, 2002, Participants and Beneficiaries may elect to change
investment elections at least quarterly but Participants and Beneficiaries shall
not be permitted to reallocate amounts between the Declared Rate and the
Variable Fund Options.

    (a)  Compensation Deferred Before January 1, 2002 (T-Note Rate or Declared
    --------------------------------------------------------------------------
    Rate).
    -----

         (i) Earnings During Participant's Lifetime. During a Participant's
         ------------------------------------------
         lifetime, all compensation deferred by the Participant before January
         1, 2002 will be credited with earnings on a monthly basis at the
         applicable T-Note Rate for periods prior to January 1, 2002 or the
         applicable Declared Rate for all periods after January 1, 2002, subject
         to increase pursuant to Section 5.1.

         (ii) Earnings After Participant's Death. Following a Participant's
         ---------------------------------------
         death, all compensation deferred by the Participant before January 1,
         2002 will be credited with interest on a monthly basis during each Plan
         Year at one hundred percent (100%) of the applicable T-Note Rate for
         periods prior to January 1, 2002, or the applicable Declared Rate for
         periods after January 1, 2002. Notwithstanding the preceding sentence,
         no interest shall be credited on a Participant's Account following the
         Participant's death whenever the Participant's Beneficiary receives
         pursuant to Section 5.4(a) a pre-retirement survivor benefit greater
         than the Participant's Account balance annuitized over the Payout
         Period.

    (b)  Compensation Deferred On Or After January 1, 2002 (Declared Rate or
    ------------------------------------------------------------------------
    Variable Fund Options).
    ----------------------

         (i) Earnings or Losses During Participant's Lifetime. During a
         ----------------------------------------------------
         Participant's lifetime, all compensation deferred by the Participant on
         or after January 1, 2002 will be credited as elected by the Participant
         with earnings or losses that may accrue at either (x) the Declared Rate
         applicable to that Plan Year subject to increase pursuant to Section
         5.1 or (y) based on the performance of the Variable Fund Options.

         (ii) Earnings or Losses After Participant's Death. Following a
         -------------------------------------------------
         Participant's death, all compensation deferred by the Participant on or
         after January 1, 2002 will be credited with

                                      -8-

<PAGE>

         earnings or losses that may accrue at either (x) one hundred percent
         (100%) of the Declared Rate applicable to that Plan Year or (y) based
         on the performance of the Variable Fund Options elected by the
         Participant's Beneficiary. Notwithstanding the preceding sentence, no
         interest shall be credited on a Participant's Account following the
         Participant's death whenever the Participant's Beneficiary receives
         pursuant to Section 5.4(a) a pre-retirement survivor benefit greater
         than the Participant's Account balance annuitized over the Payout
         Period.

4.4 Valuation of Accounts. A Participant's Account as of each Valuation Date
    ---------------------
shall consist of the balance of the Participant's Account as of the immediately
preceding Valuation Date, increased by the Participant's Elective Deferred
Compensation and earnings credited to such Account and reduced by losses
sustained by any Variable Fund Options selected by the Participant or by
distributions made from such Account since the immediately preceding Valuation
Date.

4.5 Vesting of Accounts. Each Participant shall be one hundred percent (100%)
    -------------------
vested at all times in the amounts credited to such Participant's Accounts.

4.6 Statement of Accounts. The Company shall submit to each Participant periodic
    ---------------------
statements setting forth the balance to the credit of the Accounts maintained
for the Participant.

4.7 Retirement Plan Make-Up. If a Participant is entitled to receive a benefit
    -----------------------
under the Retirement Plan, a supplemental pension benefit shall be paid under
this Plan as follows:

     (a) The supplemental pension benefit shall be an amount equal to:

         (i) The maximum life annuity to which the Participant would be entitled
         under the Retirement Plan if the Participant had not deferred amounts
         under this Plan (without regard to the application of the compensation
         limitation imposed by Section 401(a)(17) of the Internal Revenue Code
         or the benefit limitation imposed by Section 415 of the Internal
         Revenue Code);

         LESS:

         (ii) The maximum life annuity to which the Participant would then be
         entitled under the Retirement Plan (without regard to the application
         of the compensation limitation imposed by Section 401(a)(17) of the
         Internal Revenue Code or the benefit limitation imposed by Section 415
         of the Internal Revenue Code).

         Notwithstanding the above, no payment shall be made under this Plan to
         the extent such benefits are payable by any other nonqualified defined
         benefit retirement plan or arrangement sponsored by the Employer.

         Some of the Participants under this Plan own interests in life
         insurance policies (the "Policies") under the Mellon Bank Senior
         Executive Life Insurance Plan. The Retirement Plan Make-Up benefit
         payable under this Plan shall be reduced by the Participant's interest
         in the cash value of the Policies, except to the extent otherwise
         applied to reduce other benefits payable to the Participant. The
         Participant's interest in the cash value of the Policies shall be
         applied first to offset supplemental retirement benefits payable to a
         Participant under an employment agreement, if any; next to offset any
         Retirement Plan Make-Up benefit payable to the Participant under
         Section 4.7 of this Plan; next to offset any benefits payable to the
         Participant under the Mellon Bank IRC Section 401(a)(17)

                                      -9-

<PAGE>

          Plan; and then to offset any benefits payable to the Participant under
          the Mellon Bank Benefit Restoration Plan.

          The Retirement Plan Make-Up benefit payable under this Plan shall be
          reduced by the Participant's interest in the cash value of the
          Policies (to the extent not applied to reduce other benefits) as
          follows: The lump sum Retirement Plan Make-Up benefit which is payable
          under Section 4.7 of this Plan shall be reduced by subtracting the
          Participant's interest in the cash value of the Policies (to the
          extent not applied to reduce other benefits) as of the date when the
          Employer will either pay the lump sum Retirement Plan Make-Up benefit
          pursuant to Section 4.7(b) below or credit such lump sum amount to a
          Retirement Plan Make-Up Account pursuant to Section 4.7(c) below.

     (b) The Employer shall pay the supplemental pension benefit to the
     Participant in a lump sum when the Participant's benefit commences under
     the Retirement Plan. Upon a Participant's Termination of Employment before
     Normal or Early Retirement, at the Committee's discretion the Employer may
     pay the supplemental pension benefit to the Participant in a lump sum as
     soon as practicable following such Termination of Employment. The lump sum
     amount shall be calculated using the actuarial equivalence factors in the
     Retirement Plan applicable to benefits accruing thereunder at the date of
     payment, or the factors in effect at the time of the Retirement Plan's
     termination if such termination occurs prior to the date of payment.

     (c) Notwithstanding Section 4.7(b) above, in lieu of a lump sum a
     Participant may elect to receive the supplemental pension benefit after
     Normal or Early Retirement in annual installment payments over a payment
     period of up to 15 years. An election to receive the supplemental pension
     benefit in monthly installment payments shall be made in the same manner
     and subject to the same restrictions and penalties as provided in Section
     5.2; provided, however, that Section 5.2(b)(iii) shall not apply, and
     payments of the supplemental pension benefit shall commence when the
     Participant's retirement benefit commences under the Retirement Plan.

     If the Participant elects to receive the supplemental pension benefit in
     monthly installment payments, the Employer shall establish a Retirement
     Plan Make-Up Account when the Participant's retirement benefit commences
     under the Retirement Plan and shall credit to this Account the lump sum
     amount of the supplemental pension benefit which would otherwise have been
     paid to the Participant under Section 4.7(b) above. A participant shall be
     100% vested in the amount credited to his or her Retirement Plan Make-Up
     Account. Earnings will be credited on a Retirement Plan Make-Up Account at
     the same rate as other Accounts in accordance with Section 4.3 at such
     times and in such manner as the Committee may determine.

     If a Participant dies before age 55, the Employer will pay to the
     Participant's Beneficiary the lump sum amount that would have been paid to
     the Participant under Section 4.7(b) above. If a Participant dies on or
     after age 55 but before pension benefits have commenced under the
     Retirement Plan, when survivor pension benefits commence under the
     Retirement Plan the Employer will pay to Participant's Beneficiary a
     supplemental pension benefit based on the payout elected by the Participant
     under this Section. If a Participant dies after the commencement of
     installment payments of the supplemental pension benefit, the Employer will
     pay to the Participant's Beneficiary the remaining installments of any such
     benefit that would have been paid to the Participant had the Participant
     survived. After the Participant's death, earnings shall be credited on the
     Retirement Plan Make-Up Account for each Plan Year with one hundred percent
     (100%) of the T-Note Rate (if death occurs before January 1, 2002) or the
     Declared Rate in accordance with the Participant's elections (if death
     occurs on

                                      -10-

<PAGE>

     or after January 1, 2002) that is applicable to that Plan Year. If the
     Participant or his or her Beneficiary elects any Variable Fund Options, the
     Retirement Plan Make-Up Account will be increased or reduced by one hundred
     percent (100%) of the gains or losses earned for the applicable Plan Year
     by the elected Variable Fund Options.

     A Participant or Beneficiary who is receiving installment payments of the
     supplemental pension benefit may request hardship distributions in
     accordance with Section 5.6 or may elect to receive a payment in a lump sum
     in accordance with and subject to a penalty as provided in Section 5.9(b).

4.8  Retirement Savings Plan Make-Up. For each Plan Year, the Employer shall
     -------------------------------
credit to the Retirement Savings Plan Augmentation Account of any Participant an
amount equal to the amount by which the Employer matching or discretionary
contribution that would otherwise have been made by any Employer to the
Retirement Savings Plan for such Participant for the Plan Year is reduced by
reason of the reduction in the Participant's compensation for the Plan Year due
to deferrals under this Plan. The Employer's contribution shall be credited to
the Retirement Savings Plan Augmentation Account following the end of each Plan
Year. A Participant's interest in any credit to his or her Retirement Savings
Plan Augmentation Account and earnings thereon shall vest at the same rate and
at the same time as would have been the case had such contribution been made to
the Retirement Savings Plan. Interest will be credited on a Retirement Savings
Plan Augmentation Account at the same rate as other Accounts in accordance with
Section 4.3 at such times and in such manner as the Committee may determine.

Upon Normal or Early Retirement, Disability, death or other Termination of
Employment, the Employer shall pay to the Participant (or his or her Beneficiary
in the event of the Participant's death) an amount equal to the value of the
Participant's vested balance in his or her Retirement Savings Plan Augmentation
Account in one lump sum payment.

Participants who in any Plan Year are not entitled to receive an Employer
contribution in the Retirement Savings Plan will not be entitled to receive an
Employer contribution under this Plan to a Retirement Savings Plan Augmentation
Account for such Plan Year.

4.9  Retirement Plan and Retirement Savings Plan Offsets. If a Participant
     ---------------------------------------------------
receives a distribution of benefits under this Plan which results in an increase
in either (i) the pension benefit which will be payable to the Participant under
the Retirement Plan or any other qualified or non-qualified defined benefit plan
or arrangement of an Employer or (ii) the Employer contributions which will be
made on behalf of the Participant under the Retirement Savings Plan or any other
qualified or non-qualified defined contribution plan or arrangement of an
Employer, an adjustment will be made to reduce the Participant's Account
balance(s) under this Plan in order to offset the increase in his or her
benefits under such other plans and arrangements.

The Participant's Account balance(s) under this Plan shall be reduced upon his
or her Termination of Employment by a lump sum amount which is actuarially
equivalent to the increased pension benefits which will be payable to the
Participant under the Retirement Plan and any other qualified or non-qualified
defined benefit plan or arrangement of an Employer on account of the
distribution of benefits under this Plan. The lump sum amount shall be
calculated using the actuarial equivalence factors in the Retirement Plan
applicable to benefits accruing thereunder at the date of the Participant's
Termination of Employment, or the factors in effect at the time of the
Retirement Plan's termination if such termination occurs prior to the
Participant's Termination of Employment.

The Participant's Account balance(s) under this Plan shall also be reduced as of
the end of each Plan Year by a lump sum amount which is equal to the increased
Employer contributions which were made on behalf of the Participant for such
Plan Year under the Retirement Savings Plan or

                                      -11-

<PAGE>

any other qualified or non-qualified defined contribution plan or arrangement of
an Employer on account of the distribution of benefits under this Plan.

                                    ARTICLE V
                                  PLAN BENEFITS
                                  -------------

5.1  Plan Benefit. The Company shall pay a Plan benefit for the Participant's
     ------------
Normal, Early and Special Distribution Accounts, as determined below:

     (a) Fully Enhanced T-Note Rate or Declared Rate. Unpaid Account balances of
         -------------------------------------------
     Participants who have a Termination of Employment upon Normal Retirement,
     death or at any time after a Change in Control shall be credited
     retroactively for each Plan Year on the Valuation Date immediately
     preceding commencement of payment of benefits with respect to such Account
     balances with one hundred thirty-five percent (135%) of (i) the T-Note
     Rate, for periods prior to January 1, 2002 or (ii) the Declared Rate, if
     and to the extent elected, for periods after January 1, 2002.

     (b) Enhanced T-Note Rate or Declared Rate. Unpaid Account balances of
         -------------------------------------
     Participants who have a Termination of Employment before Normal Retirement
     and prior to a Change in Control, for reasons other than death, shall be
     credited retroactively for each Plan Year on the Valuation Date immediately
     preceding commencement of payment of benefits with respect to such Account
     balances with a percentage of (i) the T-Note Rate, for periods before
     January 1, 2002, or (ii) the Declared Rate, if and to the extent elected,
     for periods after January 1, 2002, based on the Participant's completed
     years of Continuous Service from his or her date of hire, including years
     of Continuous Service before the Effective Date of this Plan, as follows:

     Completed Years of                % of T-Note Rate or
                                       -------------------
     Continuous Service                    Declared Rate
     ------------------                    -------------

     Less Than 3                                100%
     3 or More                                  125%
     5 or More                                  130%
     7 or More                                  135%

     (c) Early and Special Distribution Accounts. The enhanced rates set forth
         ---------------------------------------
     under Sections 5.1(a) and (b) above shall also be credited retroactively to
     the portion of Early and Special Distribution Accounts allocated to the
     T-Note Rate or the Declared Rate on the basis of the Participant's
     Continuous Service on the Valuation Date preceding each payment of benefits
     with respect to such Accounts before Termination of Employment.

     (d) Duration. The interest rates provided under Sections 5.1(a) and (b)
         --------
     above shall be payable until the Participant's Accounts are distributed in
     full except in the event of the Participant's death. After the
     Participant's death interest shall be credited pursuant to Section
     4.3(a)(ii) or Section 4.3(b)(ii).

5.2  Normal Distribution Account.
     ---------------------------

     (a) Election of Retirement Benefit. A Participant may file a Deferral
         ------------------------------
     Election to defer compensation into a Normal Distribution Account and
     receive benefits from such Account following Termination of Employment upon
     Normal or Early Retirement. A Participant may elect up to three (3) benefit
     payment options, each covering any whole percentage of his or her Normal
     Distribution Account balance at retirement and specifying a date of

                                      -12-

<PAGE>

commencement and duration of payments. A Participant's election of payment
options shall be irrevocable, except as follows:

     (i)   Subject to the approval of the Committee, a Participant shall be
     permitted to file one new payment election per year which will supersede
     his or her original election (A) at any time more than 12 months prior to
     his or her Normal or Early Retirement without penalty and (B) at any time
     during the 12 months preceding his or her Normal or Early Retirement
     subject to a penalty, which shall be forfeited to the Company, equal to six
     percent (6%) of the portion of the Account balance affected by the change.
     A new election filed within the aforesaid time limits will become effective
     upon the Participant's Normal or Early Retirement. In the event that a
     Participant accelerates his or her Normal or Early Retirement thereby
     causing a previously filed payment election to have been made within 12
     months preceding Normal or Early Retirement, the next preceding timely
     payment election filed by the Participant shall be followed unless the
     Participant elects to have the six percent (6%) penalty of Section
     5.2(a)(i)(B) above apply. No penalty shall apply to the first such payment
     election filed by a Participant who was participating in the Prior Plan and
     such initial election shall be given effect unless the Participant
     subsequently files a new payment election.

     (ii)  A Participant who has elected payments in installments may request in
     writing a payment in a lump sum, at any time after Normal or Early
     Retirement, of the amount of his or her Account balance which is reasonably
     necessary to meet the Participant's requirements due to a Financial
     Hardship.

     (iii) A Participant may elect to receive a payment in a lump sum at any
     time, subject to a penalty, as provided in Section 5.9(b).

(b)  Forms of Retirement Benefit Payment. The available forms of payment from a
     -----------------------------------
Normal Distribution Account after Normal or Early Retirement are as follows:

     (i)   One lump sum payment.

     (ii)  For anyone retiring before January 1, 2002, monthly installment
     payments in approximately equal payments of principal and interest over a
     payment period of 60, 120 or 180 months, as elected by the Participant. The
     amount of the monthly installments shall be redetermined effective as of
     January 1 of each year based on the remaining Account balance and the
     remaining number of installment payments.

     (iii) For anyone retiring on or after January 1, 2002, annual installments
     in approximately equal payments of principal and earnings, if any, over a
     payment period of up to 15 years, as elected by the Participant. The
     payment of the annual installments shall begin January 1 following the
     Participant's Normal or Early Retirement and the amount shall be
     redetermined effective as of January 1 of each year based on the remaining
     Account balance and the remaining number of installment payments.

(c)  Commencement of Retirement Benefit Payment. The available commencement
     ------------------------------------------
dates for payment of benefits from a Participant's Normal Distribution Account
are as follows:

     (i)   For anyone retiring before January 1, 2002, upon Normal or Early
     Retirement.

     (ii)  For anyone retiring on or after January 1, 2002, January 1 following
     Normal or Early Retirement; provided, however, that lump sum payments may
     be made immediately following Normal or Early Retirement.

                                      -13-

<PAGE>

     (iii) Any January following Normal or Early Retirement; provided, however,
     that no payment may commence later than the January of the year in which
     the Participant attains age 70.

     (iv)  For anyone retiring before January 1, 2002, the later of Normal or
     Early Retirement and the date the Participant attains age 60, 65 or 70.

     (v)   For anyone retiring on or after January 1, 2002, January 1 following
     the later of Normal or Early Retirement and the attainment of any age
     elected by Participant up to age 70.

If a Participant does not elect a benefit payment option for his or her Normal
Distribution Account or Early Distribution Account, Plan benefits from such
Account will be paid in annual installments over 15 years, commencing in January
of the year following Early Retirement.

5.3  Form of Benefit Payment Upon Termination of Employment. Benefits payable
     ------------------------------------------------------
upon a Participant's Termination of Employment, for reasons other than
Disability or death, before eligibility for Normal or Early Retirement shall be
paid in a lump sum or up to three equal annual installments, at the Committee's
discretion, following Termination of Employment. If the benefit is paid over
three years, Participant's entire unpaid Account balance will be credited with
interest following Termination of Employment at the T-Note Rate as enhanced by
completed years of Continuous Service under Section 5.1(b).

5.4  Survivor Benefits.
     -----------------

     (a) Pre-Retirement Survivor Benefits.
         --------------------------------

         (i) Normal and Early Distribution Accounts. If a Participant dies while
             --------------------------------------
         in employment with an Employer (or while suffering from a Disability
         prior to attaining age 55) prior to receiving a complete distribution
         of his or her entire Normal or Early Distribution Account balances,
         then commencing as soon as practicable following the Participant's
         death the Employer will pay to the Participant's Beneficiary a benefit
         equal to the sum of A plus B plus C where:

              A = Greater of:

              .  40% of the Participant's cumulative amount deferred (excluding
                 interest and earnings or losses credited thereon) on the date
                 of death or at age 65 (if death occurs after age 65), paid
                 annually until the Participant would have attained age 65 or
                 for ten (10) years, whichever is longer (the "Payout Period"),
                 or

              .  Participant's Account balance annuitized over the Payout
                 Period.

              B = Respectively:

              .  Normal Distribution Account: If death occurs before age 65,
                 160% of the Participant's annual Deferral Commitment for such
                 Account in effect at date of death, paid annually for the
                 Payout Period.

              .  Early Distribution Account: 40% times the number of deferral
                 years remaining before commencement of payment of such Account
                 (limited to the lesser of 4 years or the number of years until
                 the Participant would have attained age 65) of

                                      -14-

<PAGE>

               the Participant's annual Deferral Commitment for such Account in
               effect at date of death, paid annually over the Payout Period.

          C = Participant's Account balance resulting from deferrals credited to
          his or her Account after age 65 paid over the Payout Period.

     (ii)  Special Distribution Account. If a Participant dies while in
           ----------------------------
     employment with an Employer (or while suffering from a Disability prior to
     attaining age 55) prior to receiving a complete distribution of his or her
     entire Special Distribution Account, commencing as soon as practicable
     following the Participant's death the Employer will pay to the
     Participant's Beneficiary a benefit equal to the greater of (X) 40% of the
     cumulative amounts deferred into the Participant's Special Distribution
     Account on the date of death or at age 65 (if death occurs after age 65),
     paid annually for the Payout Period, or (Y) Participant's Special
     Distribution Account balance paid over the Payout Period.

     (iii) Greater Benefit. For purposes of Section 5.4(a)(i)(A), the Committee
           ---------------
     shall determine which benefit is greater on a present value basis using
     such discount rate as the Committee may determine, provided that such rate
     will not be greater than the T Note-Rate or the Declared Rate applicable
     for the Plan Year.

     (iv)  Covered Deferral Commitment. For purposes of Section 5.4(a)(i)(B),
           ---------------------------
     the following provisions shall apply:

           A) If the Participant had elected to defer a percentage of Base
              Salary or Bonus, his or her Deferral Commitment shall be
              determined based the on the Base Salary in effect or the Bonus
              most recently paid to Participant at the time of his or her death.

           B) If the Participant had elected to defer a dollar amount of Base
              Salary or Bonus, his or her Deferral Commitment shall not exceed
              the Base Salary in effect or the Bonus most recently paid to the
              Participant at the time of his or her death.

           C) A Deferral Commitment shall be deemed to be in effect beginning on
              the first day of the Plan Year after the Participant files a
              Deferral Election for such Deferral Commitment.

     (v)   Commencement of Survivor Benefit. The pre-retirement survivor benefit
           --------------------------------
     for a Participant's Accounts shall become effective beginning on the first
     day of the Plan Year after the Participant files a Deferral Election for a
     Normal or Early Distribution Account and shall be effective as of January
     1, 1997 for all Special Distribution Accounts. A Participant's Beneficiary
     will be entitled to receive the pre-retirement survivor benefits described
     above with respect to the Participant's Account(s) only in the event of the
     Participant's death while in employment with an Employer on or after such
     dates.

     (vi)  Withdrawals. Whenever a Participant makes a withdrawal from any
           -----------
     Account, the cumulative amount deferred for purposes of Section
     5.4(a)(i)(A) above shall be limited to the actual amounts deferred (less
     any amounts withdrawn, including any penalty thereon). The Committee, in
     its sole discretion, will make appropriate adjustments to reduce the annual
     amount of the pre-retirement survivor benefit where the Participant has
     received a partial distribution from any of his or her Account(s) prior to
     his or her death, including but not limited to installment payments from an
     Early Distribution Account pursuant to Section 5.5, distributions on
     account of Financial Hardship pursuant to Section 5.6 and distributions
     during a Window Period pursuant to Section 5.9. If a Participant dies while

                                      -15-

<PAGE>

     in employment with an Employer after complete distribution of his or her
     entire Account balances, no survivor benefit will be payable to the
     Participant's Beneficiary.

     (vii) Prior Plan Pre-Retirement Survivor Benefit. Beneficiaries of
           ------------------------------------------
     Participants who are age 62 or older on January 1, 1997 and who
     subsequently die while in employment with an Employer prior to receiving a
     complete distribution of their entire Normal, Early or Special Distribution
     Account(s), if any, shall be entitled to receive the greater of the
     pre-retirement survivor benefit calculated above and the pre-retirement
     survivor benefit calculated under the terms of the Prior Plan.

(b)  Post-Retirement Survivor Benefits. If a Participant dies after Normal or
     ---------------------------------
Early Retirement but before commencement of payment of retirement benefits with
respect to his or her Normal Distribution Account balance, the Employer will pay
to the Participant's Beneficiary the installments of any such benefit that such
Participant's Beneficiary would have received with respect to such Normal
Distribution Account balance had the Participant commenced to receive retirement
benefits on the day prior to such Participant's death. Payments will commence
upon the Participant's death, irrespective of when retirement benefits would
have commenced if the Participant had survived. Such payments shall be made in
accordance with the method of payment that the Participant had elected for
payment of retirement benefits for his or her Normal Distribution Account.

If a Participant dies after the commencement of payment of retirement benefits
with respect to his or her Normal Distribution Account, the Employer will pay to
the Participant's Beneficiary the remaining installments of any such benefit
that would have been paid to the Participant had the Participant survived.

If a Participant dies after Termination of Employment, but before receiving full
payment of benefits from his or her Early or Special Distribution Account, his
or her Beneficiary shall receive the balance of his or her Early or Special
Distribution Account in one lump sum payment, at the discretion of the
Committee, as soon as practicable following his or her death.

(c) Interest. If the Participant dies during employment with an Employer, the
    --------
amount payable with respect to each of the Participant's Accounts shall be
determined by retroactively crediting interest, earnings and losses through the
date of the Participant's death, in accordance with Participant's elections,
with (i) one hundred thirty-five percent (135%) of the T-Note Rate or the
Declared Rate applicable to the Plan Year or (ii) earnings or losses based on
the performance of the Variable Fund Options elected by the Participant. After
the Participant's death interest shall be credited for each Plan Year at one
hundred percent (100%) of the T-Note Rate (if death occurs before January 1,
2002) or the Declared Rate in accordance with the Participant's elections (if
death occurs on or after January 1, 2002) that is applicable for that Plan Year.
If Participant or his or her Beneficiary elects any Variable Fund Options, the
Account will be increased or reduced by one hundred percent (100%) of the gains
or losses earned for the applicable Plan Year by the elected Variable Fund
Options.

(d) Death of Survivor. Upon the death of a Participant's Beneficiary, the amount
    -----------------
of any survivor benefit remaining payable to such Beneficiary will be paid in a
lump sum to the Beneficiary's estate or personal representative. The lump sum
amount for any Pre-Retirement Survivor Benefit remaining payable will be
determined by taking the present value of the remaining payments using such
discount rate as the Committee may determine, provided that such rate will not
be greater than the T-Note Rate or the Declared Rate applicable for the Plan
Year.

                                      -16-

<PAGE>

5.5 Early Distribution Account. A Participant may file a Deferral Election to
    --------------------------
defer compensation into an Early Distribution Account and receive benefits from
such Account prior to Termination of Employment subject to the following
restrictions:

     (a) Election of Early Distribution Benefit. A Deferral Election
         --------------------------------------
     establishing an Early Distribution Account and specifying an early payment
     date and the form of payment must be filed prior to the commencement of the
     period in which the Elective Deferred Compensation is to be earned. No
     deferrals may be made into a Participant's Early Distribution Account
     during any Plan Year in which the Participant is receiving a distribution
     from such Account.

     (b) Amount of Early Distribution Benefit. The entire Early Distribution
         ------------------------------------
     Account must be paid out at the time and in the form provided for in the
     related Deferral Election.

     (c) Commencement and Form of Early Distribution Benefit. An Early
         ---------------------------------------------------
     Distribution Account shall not be paid out prior to the completion of two
     Plan Years following the start of deferrals into such Account. An Early
     Distribution Account shall be paid out in a lump sum or in four equal
     annual installments, as provided in the Participant's Deferral Election
     establishing such Account. Following the complete distribution of an Early
     Distribution Account, a Participant may make new deferrals into such
     Account. Amounts paid to a Participant pursuant to this Section 5.5 shall
     be treated as distributions from the Participant's Early Distribution
     Account. If Termination of Employment occurs due to any reason, other than
     death, before the date scheduled for payment of an Early Distribution
     Account, the Participant shall receive the balance of his or her Early
     Distribution Account in one lump sum payment or up to three (3) equal
     annual installments, at the Committee's discretion, as soon as practicable
     following such event. If the benefit is paid over three years,
     Participant's entire unpaid Account balance will be credited with interest
     following Termination of Employment at the applicable rate under Section
     5.1(b).

5.6  Hardship Distributions. Upon finding that a Participant or Beneficiary has
     ----------------------
suffered a Financial Hardship, the Committee may, in its sole discretion, make
distributions from an Account prior to the time specified for payment of
benefits under the Plan. The amount of such distributions shall be limited to
the amount reasonably necessary to meet the Participant's or Beneficiary's
requirements during the Financial Hardship. Applications for hardship
distributions and determinations thereon by the Committee shall be in writing,
and a Participant or Beneficiary may be required to furnish written proof of the
Financial Hardship.

A Participant's entire Account balance will be distributed whenever a hardship
distribution would amount to more than seventy-five percent (75%) of any such
Account balance. Following a complete distribution of an entire Account balance,
a Participant and his or her Beneficiary will be entitled to no further
benefits under the Plan with respect to that Account. Amounts paid to a
Participant pursuant to this Section 5.6 shall be treated as distributions from
the Participant's Account. Any Participant who receives a hardship distribution
of any part of an Account balance shall not be allowed to make any deferrals
under the Plan during the remainder of the Plan Year in which he receives such
distribution or during the next Plan Year.

5.7  Disability. If a Participant suffers a Disability, the Participant's
     ----------
Deferral Commitments will cease except for any bonuses which may be payable
thereafter. The Participant's Accounts under the Plan will continue, and the
Participant will continue to receive credit for years of Continuous Service for
purposes of Section 5.1(b). The Participant's Accounts will be distributed in
accordance with the method of payment that the Participant has elected for
payment of benefits with respect to such Account, assuming Termination of
Employment on Early Retirement for purposes of his or her Normal Distribution
Account . Notwithstanding the foregoing, such distribution may be delayed if the
Committee determines that such distribution would result in a

                                      -17-

<PAGE>

reduction of any disability benefits payable to the Participant under disability
plans sponsored by the Employer. The Committee shall make appropriate
adjustments on account of any delayed payments to ensure that the Participant
receives payments which are actuarially equivalent to the payments which were
otherwise due to him or her under this Plan.

5.8  Valuation and Settlement. The date on which a lump sum is paid or the date
     ------------------------
on which installment payments commence shall be the "Settlement Date." The
Settlement Date for an Account shall be no more than sixty (60) days after the
end of the month in which the Participant or his or her Beneficiary becomes
entitled to payments on account of Normal or Early Retirement, other Termination
of Employment or death, unless the Participant elects to defer commencement of
payments following Normal or Early Retirement to a later date in the election
form for designation of form of payment for the Account. The Settlement Date for
an Early Distribution Account or delayed payments following Normal or Early
Retirement shall be the date which the Participant elects for commencement of
such payments in the Deferral Election designating the form of payment for the
Account. The Settlement Date for a Special Distribution Account shall be the
date that the Participant elected for commencement of payments from such Account
under the terms of the Prior Plan. The amount of a lump sum payment and the
initial amount of installment payments shall be based on the value of the
Participant's Account as of the Valuation Date at the end of the immediately
preceding month before the Settlement Date. For example, the Valuation Date at
the end of December shall be used to determine lump sum payments and the initial
amount of installment payments which will be made in the following January.

5.9  Change in Control and Unscheduled Distributions.
     -----------------------------------------------

     (a) Subject to the provisions of Section 5.9(b) hereof, upon (i)
     dissolution or liquidation of the Company, (ii) a reorganization, merger or
     consolidation of the Company with one or more other entities as a result of
     which the Company is not the survivor, (iii) the sale of all or
     substantially all the assets of the Company, or (iv) any other event which
     constitutes a Change in Control as defined in Section 5.9(c), the interests
     of all then remaining Participants shall continue, and provisions shall be
     made in connection with such transaction for the continuance of the Plan
     and the assumption of the obligations of the Company under the Plan by the
     Company's successor(s) in interest.

     (b) Notwithstanding any other provisions of the Plan, at any time during a
     Window Period before a Change in Control or at any time after a Change in
     Control a Participant or a Beneficiary of a deceased Participant may elect
     to receive an immediate lump sum payment of up to the balance of his or her
     Account(s), reduced by a penalty, which shall be forfeited to the Company,
     equal to ten percent (10%) before a Change in Control or six percent (6%)
     after a Change in Control, applied against the portion of the Account
     balance withdrawn, in lieu of payments in accordance with the form
     previously elected by the Participant. However, the penalty shall not apply
     if the Committee determines, based on advice of counsel or a final
     determination by the Internal Revenue Service or any court of competent
     jurisdiction, that by reason of the foregoing provision the Participant has
     recognized or will recognize gross income for federal income tax purposes
     under this Plan in advance of payment to him or her, or to his or her
     Beneficiary, of Plan benefits. The minimum lump sum payment shall be
     $50,000.00 or the entire balance of any Account, whichever is less.

     A Participant who receives a lump sum payment under this Section 5.9(b)
     will be credited with interest on the Account balance at the rates
     established under Section 5.1(b) of the Plan based on the Participant's
     completed years of Service prior to the lump sum payment. Following a
     complete distribution of the entire balance for an Account, a Participant
     and his or her Beneficiary will be entitled to no further benefits under
     the Plan with respect to that Account. Whenever a Participant receives a
     lump sum payment under this Section 5.9(b) or

                                      -18-

<PAGE>

     Section 9.1, the Participant will be deemed to elect to revoke all Deferral
     Commitments and to discontinue all deferrals under the Plan effective as of
     the date of the lump sum payment. The Participant will be precluded from
     making any new deferrals under the Plan for the remainder of the Plan Year
     in which he receives such distribution and for the next Plan Year.

     (c) A "Change in Control" shall mean:

         (i) The occurrence with respect to the Corporation of a "control
         transaction", as such term is defined in Section 2542 of the
         Pennsylvania Business Corporation Law of 1988, as of August 15, 1989;
         or

         (ii) Approval by the stockholders of the Corporation of (a) any
         consolidation or merger of the Corporation where either (1) the holders
         of voting stock of the Corporation immediately before the merger or
         consolidation will not own more than 50% of the voting shares of the
         continuing or surviving corporation immediately after such merger or
         consolidation or (2) the Incumbent Directors immediately before the
         merger or consolidation will not hold more than 50% (rounded to the
         next whole person) of the seats on the board of directors of the
         continuing or surviving corporation, or (b) any sale, lease or exchange
         or other transfer (in one transaction or a series of related
         transactions) of all or substantially all the assets of the
         Corporation; or

         (iii) A change of 25% (rounded to the next whole person) in the
         membership of the Board of Directors within a 12-month period, unless
         the election or nomination for election by stockholders of each new
         director within such period (a) was approved by the vote of 85%
         (rounded to the next whole person) of the directors then still in
         office who were in office at the beginning of the 12-month period and
         (b) was not as a result of an actual or threatened election with
         respect to directors or any other actual or threatened solicitation of
         proxies by or on behalf of any person other than the Board of
         Directors. As used herein, the term "Incumbent Director" means as of
         any time a director of the Corporation (x) who has been a member of the
         Board of Directors continuously for at least 12 months or (y) whose
         election or nomination as a director within such period met the
         requirements of clauses (a) and (b) of the preceding sentence.

     (d) Notwithstanding any other provision of this Plan, without the written
     consent of the Participant (or Beneficiary of a deceased Participant)
     affected thereby, the Company may not amend or terminate this Plan:

         (i)  For a period of twenty-four (24) months following a Change in
         Control; or

         (ii) At any time thereafter, in any manner which affects any
         Participant (or Beneficiary of a deceased Participant) who receives
         payments of benefits under this Plan or has a Termination of Employment
         for any reason at any time during the period of twenty-four (24) months
         following the Change in Control.

5.10 Continuous Service.  Continuity of service shall be determined in
     ------------------
accordance with the following rules:

                                      -19-

<PAGE>

     (a) A leave of absence not in excess of one year, granted by a
     Participant's Employer for any purpose, including but not limited to,
     sickness, accident or other casualty, shall not be considered a break in
     continuity of service.

     (b) Any Participant who has entered, or enters, the Armed Forces of the
     United States in a period of national emergency, declared by the President
     or Congress of the United States, shall be presumed to be on leave of
     absence, provided he returns to the employ of his or her Employer within
     ninety (90) days of the date on which he shall have the right to release
     from such service, or from the hospital in event of service caused
     disability, without intervening employment elsewhere.

     (c) A Participant who transfers his or her employment from one Employer to
     any other Employer is not deemed to have caused a break in continuity of
     service. Any other dismissal or voluntary Termination of Employment shall
     be deemed a break in continuity of service.

     (d) Absence from work or interruption of employment not covered by the
     foregoing provisions of this Section shall be determined by the employing
     Employer to be, or not to be, a break in continuity of service at the time
     of return to work or re-employment.

5.11  Distributions from General Assets. The Employer shall make any or all
      ---------------------------------
distributions pursuant to this Plan in cash out of its general assets.

5.12  Withholding and Payroll Taxes. The Employer shall withhold from payments
      -----------------------------
made hereunder any taxes required to be withheld from such payments under
federal, state or local law.

5.13  Payment to Guardian. If a benefit is payable to a minor or a person
      -------------------
declared incompetent or to a person incapable of handling the disposition of his
or her property, the Committee may direct payment of such benefit to the
guardian, legal representative or person having the care and custody of such
minor, incompetent or incapacitated person. The Committee may require proof of
minority, incompetency, incapacity or guardianship as it may deem appropriate
prior to distribution of the benefit. Such distribution shall completely
discharge the Committee from all liability with respect to such benefit.

5.14  Small Benefit. Notwithstanding any election made by the Participant, the
      -------------
Committee, in its sole discretion, may direct payment of any benefit in the form
of a lump sum payment to the Participant or any Beneficiary, if the lump sum
amount of the Account balance which is payable to the Participant or Beneficiary
when payments to such Participant or Beneficiary would otherwise commence is
less than $50,000.00.

5.15  Protective Provisions. Each Participant shall cooperate with the Company
      ---------------------
by furnishing any and all information requested by the Company in order to
facilitate the payment of benefits hereunder, taking such physical examinations
as the Company may deem necessary and taking such other relevant action as may
be requested by the Company. If a Participant refuses so to cooperate or makes
any material misstatement of information or nondisclosure of medical history,
then no benefits will be payable hereunder with respect to such Participant or
his or her Beneficiary, provided that, in the Company's sole discretion,
benefits may be payable in an amount reduced to compensate the Company for any
loss, cost, damage or expense suffered or incurred by the Company as a result in
any way of any such action, misstatement or nondisclosure.

5.16  Notices and Elections. Any notice or election required or permitted to be
      ---------------------
given to the Company or the Committee under the Plan shall be sufficient only if
it is in writing on a form prescribed or accepted by the Committee and hand
delivered, or sent by registered or certified mail, to the principal office of
the Company, directed to the attention of the Human Resources

                                      -20-

<PAGE>

Department of the Company. Such notice or election shall be deemed given as of
the date of delivery or, if delivery is made by mail, as of the date shown on
the postmark on the receipt for registration or certification.

5.17 Special Distribution Accounts. Special Distribution Accounts shall be
     -----------------------------
distributed in accordance with a Participant's elections filed under the Prior
Plan. The Participant may not amend such elections.

                                   ARTICLE VI
                           DESIGNATION OF BENEFICIARY
                           --------------------------

6.1 Designation of Beneficiary. Each Participant shall have the right to
    --------------------------
designate a Beneficiary or Beneficiaries to receive his or her interest in each
of his or her Accounts upon his or her death. Such designation shall be made on
a form prescribed by and delivered to the Company. The Participant shall have
the right to change or revoke any such designation from time to time by filing a
new designation or notice of revocation with the Company, and no notice to any
Beneficiary nor consent by any Beneficiary shall be required to effect any such
change or revocation.

6.2 Failure to Designate Beneficiary. If a Participant shall fail to designate a
    --------------------------------
Beneficiary before his or her demise, or if no designated Beneficiary survives
the Participant, the Committee shall direct the Company to pay the balance in
each of his or her Accounts in a lump sum to the executor or administrator for
his or her estate; provided, however, if no executor or administrator shall have
been appointed, and actual notice of said death was given to the Committee
within sixty (60) days after his or her death, and if his or her Account
balances do not exceed Ten Thousand Dollars ($10,000), the Committee may direct
the Company to pay his or her Account balances to such person or persons as the
Committee determines, and the Committee may require such proof of right and/or
identity of such person or persons as the Committee may deem appropriate or
necessary.

                                   ARTICLE VII
                             FORFEITURES TO COMPANY
                             ----------------------

7.1 Distribution of Participant's Interest When Company is Unable to Locate
    -----------------------------------------------------------------------
Distributees. In case the Company is unable within three (3) years after payment
------------
is due to a Participant, or within three (3) years after payment is due to the
Beneficiary or estate of a deceased Participant, to make such payment to him or
her or his or her Beneficiary, executor or administrator because it cannot
ascertain his or her whereabouts or the identity or whereabouts of his or her
Beneficiary, executor or administrator by mailing to the last known address
shown on the Employer's or the Company's records, and neither he, his or her
Beneficiary, nor his or her executor or administrator had made written claim
therefor before the expiration of the aforesaid time limit, then in such case,
the amount due shall be forfeited to the Company.

                                  ARTICLE VIII
                             MAINTENANCE OF ACCOUNTS
                             -----------------------

The Company shall keep, or cause to be kept, all such books of account, records
and other data as may be necessary or advisable in its judgment for the
administration of this Plan, and properly to reflect the affairs thereof, and to
determine the nature and amount of the interests of the respective Participants
in each Account.

                                      -21-

<PAGE>

The Company is not required to physically segregate any assets with respect to
the Accounts under this Plan from any other assets of the Company and may
commingle any such assets with any other moneys, securities and properties of
any kind of the Company. Separate accounts or records for the respective
Participants' interests shall be maintained for operational and accounting
purposes, but no such account or record shall be considered as creating a lien
of any nature whatsoever on or as segregating any of the assets with respect to
the Accounts under this Plan from any other funds or property of the Company.

                                   ARTICLE IX
                      AMENDMENT AND TERMINATION OF THE PLAN
                      -------------------------------------

9.1  Amendment. The Human Resources Committee of the Board may at any time amend
     ---------
the Plan in whole or in part, provided, however, that no amendment shall be
effective to decrease or restrict the amount accrued (including earnings at the
appropriate interest rate) in any Account to the date of such amendment.
Notwithstanding anything in the preceding sentence to the contrary, the
Committee shall have the power to amend the Plan to the extent authorized by
Section 2.2.

Upon a prospective amendment to reduce the formula for determining the future
interest rate, 30 days' advance written notice shall be given to each
Participant. Following such an amendment to reduce the formula for determining
the future interest rate and the giving of notice to the Participant, the
Participant may elect to (i) terminate an ongoing Deferral Commitment without
penalty and/or (ii) receive an immediate lump sum payment of the balance of his
or her Account(s), reduced by a penalty, which shall be forfeited to the
Employer, equal to six percent (6%) of the balance of such Account(s), in lieu
of payments in accordance with the form previously elected by the Participant.
However, the six percent (6%) penalty shall not apply if it would not have
applied under Section 5.9(b). The Participant may make such an election by
notifying the Committee in writing within sixty (60) days following receipt of
notice of the amendment to reduce the interest rate.

9.2  Company's Right to Terminate. The Human Resources Committee of the Board
     ----------------------------
may partially or completely terminate the Plan if, in its judgment, the tax,
accounting, or other effects of the continuance of the Plan or potential
payments thereunder would not be in the best interests of the Company.

     (a) Partial Termination. The Human Resources Committee of the Board may
         -------------------
     partially terminate the Plan by instructing the Committee not to accept any
     additional or ongoing Deferral Commitments. In the event of such partial
     termination, the Plan shall continue to operate on the same terms and
     conditions and, unless the Human Resources Committee of the Board instructs
     the Committee not to accept ongoing Deferral Commitments, shall be
     effective with regard to Deferral Commitments entered into prior to the
     effective date of such partial termination.

     (b) Complete Termination. The Human Resources Committee of the Board may
         --------------------
     completely terminate the Plan. In the event of complete termination, the
     Plan shall cease to operate, and the Employer shall pay out to each
     Participant (or the Beneficiary of a deceased Participant) his Accounts in
     either a lump sum payment or up to three equal annual installments, at the
     Employer's discretion, as if the Participant had terminated service as of
     the effective date of the complete termination. Interest shall continue to
     be paid on the balance in each Participant's Account(s) in accordance with
     Section 4.3.

                                      -22-

<PAGE>

                                    ARTICLE X
                             SPENDTHRIFT PROVISIONS
                             ----------------------

The Employer shall, except as otherwise provided hereunder, pay all amounts
payable hereunder only to the person or persons entitled thereto hereunder, and
all such payments shall be made directly into the hands of each such person or
persons and not into the hands of any other person or corporation whatsoever, so
that said payments may not be liable for the debts, contracts or engagements of
any such designated person or persons, or taken in execution by attachment or
garnishment or by any other legal or equitable proceedings, nor shall any such
designated person or persons have any right to alienate, arbitrate, execute,
pledge, encumber, or assign any such payments or the benefits or proceeds
thereof. If the person entitled to receive payment be a minor, or a person of
unsound mind, whether or not adjudicated incompetent, the Employer, upon
direction of the Committee, may make such payments to such person or persons,
corporation or corporations as may be, or be acting as, parent or legal or
natural guardian of such infant or person of unsound mind. The signed receipt of
such person or corporation shall be a full and complete discharge to the
Employer for any such payments.

                                   ARTICLE XI
                                  MISCELLANEOUS
                                  -------------

11.1 Right of Employers to Dismiss Employees; Obligations. Neither the action of
     ----------------------------------------------------
the Company and the Employers in establishing this Plan, nor any provisions of
this Plan, shall be construed as giving any employee the right to be retained in
his or her Employer's employ, or any right to any payment whatsoever except to
the extent of the benefits provided for by this Plan. The Employers expressly
reserve their right at any time to dismiss any employee without any liability
for any claim against the Employers, or any of them, for any payment whatsoever
except to the extent provided for in this Plan. The Employers, or any of them,
have no obligation to create any other or subsequent deferred compensation plan
for any employees.

11.2 Title to and Ownership of Assets Held for Accounts. Title to and ownership
     --------------------------------------------------
of all assets held for any Accounts shall be vested in the Employer and shall
constitute general assets of the Employer.

11.3 Nature of Liability to Participants. Any and all payments required to be
     -----------------------------------
made by the Employer to Participants in the Plan shall be general and unsecured
liabilities of the Employer.

11.4 Text of Plan to Control. The headings of the Articles and Sections are
     -----------------------
included solely for convenience of reference, and if there be any conflict
between such headings and the text of this Plan, the text shall control.

This Plan document sets forth the complete terms of the Plan. In the event of
any discrepancies or conflicts between this Plan document and any summary or
other information regarding the Plan, the terms of this Plan document shall
apply and control.

11.5 Law Governing and Severability. This Plan shall be construed, regulated and
     ------------------------------
administered under the laws of the Commonwealth of Pennsylvania.

If any provisions of this Plan shall be held invalid or unenforceable for any
reason, such invalidity or unenforceability shall not affect the remaining
provisions of this Plan, and this Plan shall be deemed to be modified to the
least extent possible to make it valid and enforceable in its entirety.

                                      -23-

<PAGE>

11.6 Name. This Plan may be referred to as the "Mellon Financial Corporation
     ----
Elective Deferred Compensation Plan for Senior Officers."

11.7 Gender. The masculine gender shall include the feminine, and the singular
     ------
shall include the plural, except when the context expressly dictates otherwise.

11.8 Trust Fund. The Employer shall be responsible for the payment of all
     ----------
benefits provided under the Plan. At its discretion, the Company may establish
one or more trusts, with such trustees as the Board or the Committee may
approve, for the purpose of providing for the payment of such benefits. Such
trust or trusts may be irrevocable, but the assets thereof shall be subject to
the claims of the Company's creditors. To the extent any benefits provided under
the Plan are actually paid from any such trust, the Employer shall have no
further obligation with respect thereto, but to the extent not so paid, such
benefits shall remain the obligation of, and shall be paid by, the Employer.

11.9 Ineligible Participant. Notwithstanding any other provisions of this Plan
     ----------------------
to the contrary, if any Participant is determined not to be a "management or
highly compensated employee" within the meaning of ERISA or Regulations
thereunder, such Participant will not be eligible to participate in this Plan
and shall receive an immediate lump sum payment equal to the vested portion of
the amounts standing credited to his or her Accounts. Upon such payment no
survivor benefit or other benefit shall thereafter be payable under this Plan
either to the Participant or any Beneficiary of the Participant.

IN WITNESS WHEREOF, the Company has caused this amended and restated Plan to be
executed this 8/th/ day of March, 2002, effective as of January 1, 2002.

ATTEST:                                      MELLON FINANCIAL CORPORATION

/s/ Carl Krasik                              By: /s/ Lisa B. Peters
----------------------------                    ------------------
Carl Krasik                                    Lisa B. Peters
Secretary                                      Head of the
                                               Human Resources Department of
                                               Mellon Bank, N.A.

                                      -24-<PAGE>

                                                                   Exhibit 10.14

                                 LEASE AGREEMENT

                                     Between

                   CODINA WEST DADE DEVELOPMENT CORP., NO. 4,
                             a Florida corporation,
                                   as Landlord

                                       and

                                  CELLIT, INC.,
                              a Florida corporation
                                    as Tenant

                            Dated: February 23, 1999

<PAGE>

                                TABLE OF CONTENTS

                                 LEASE AGREEMENT

No.   Description                                                        Page
---   -----------                                                        ----

1.    Premises .......................................................     1
      --------
2.    Lease Term .....................................................     1
      ----------
3.    Base Rent ......................................................     2
      ---------
4.    Rent Payment ...................................................     3
      ------------
5.    Late Charge ....................................................     3
      -----------
6.    Partial Payment ................................................     3
      ---------------
7.    Construction of this Agreement .................................     3
      ------------------------------
8.    Use of Premises ................................................     3
      ---------------
9.    Definitions ....................................................     4
      -----------
10.   Repairs By Landlord ............................................     4
      -------------------
11.   Repairs By Tenant ..............................................     6
      -----------------
12.   Alterations and Improvements ...................................     7
      ----------------------------
13.   Operating Expenses .............................................     7
      ------------------
14.   Landlord's Failure to Give Possession ..........................    12
      -------------------------------------
15.   Acceptance and Waiver ..........................................    12
      ---------------------
16.   Signs ..........................................................    12
      -----
17.   Advertising ....................................................    13
      -----------
18.   Removal of Fixtures ............................................    13
      -------------------
19.   Entering Premises ..............................................    13
      -----------------
20.   Services .......................................................    13
      --------

                                       -i-

<PAGE>

21.   Indemnities ....................................................    15
      -----------
22.   Tenant's Insurance; Waivers ....................................    15
      ---------------------------
23.   Governmental Requirements ......................................    17
      -------------------------
24.   Abandonment of Premises ........................................    17
      -----------------------
25.   Assignment and Subletting ......................................    17
      -------------------------
26.   Default ........................................................    19
      -------
27.   Remedies .......................................................    19
      --------
28.   Destruction or Damage ..........................................    20
      ---------------------
29.   Eminent Domain .................................................    21
      --------------
30.   Service of Notice ..............................................    21
      -----------------
31.   Mortgagee's Rights .............................................    21
      ------------------
32.   Estoppel .......................................................    22
      --------
33.   Attorney's Fees ................................................    22
      ---------------
34.   Parking ........................................................    23
      -------
35.   Storage ........................................................    23
      -------
36.   Waste Disposal .................................................    23
      --------------
37.   Surrender of Premises ..........................................    23
      ---------------------
38.   Cleaning Premises ..............................................    23
      -----------------
39.   No Estate In Land ..............................................    23
      -----------------
40.   Cumulative Rights ..............................................    23
      -----------------
41.   Paragraph Titles; Severability .................................    24
      ------------------------------
42.   Damage or Theft of Personal Property ...........................    24
      ------------------------------------
43.   Holding Over ...................................................    24
      ------------
44.   Security Deposit ...............................................    24
      ----------------

                                      -ii-

<PAGE>

45.   Building Allowance and Tenant's Plans ..........................    25
      -------------------------------------
46.   Rules and Regulations ..........................................    27
      ---------------------
47.   Quiet Environment ..............................................    27
      -----------------
48.   Entire Agreement ...............................................    27
      ----------------
49.   Limitation of Liability ........................................    27
      -----------------------
50.   Submission of Agreement ........................................    27
      -----------------------
51.   Authority ......................................................    27
      ---------
52.   Relocation .....................................................    27
      ----------
53.   Broker Disclosure ..............................................    27
      -----------------
54.   Notices ........................................................    28
      -------
55.   Force Majeure ..................................................    28
      -------------
56.   Special Stipulations ...........................................    29
      --------------------
57.   Recapture Fee ..................................................    29
      -------------
58.   Right of First Offer ...........................................    29
      --------------------
59.   Right to Setoff ................................................    29
      ---------------
60.   Waiver of Landlord's Lien ......................................    29
      -------------------------

                                      -iii-

<PAGE>

                             BASIC LEASE PROVISIONS
                             ----------------------

     The following is a summary of some of the Basic Provisions of the Lease. In
the event of any conflict between the terms of these Basic Lease Provisions and
the referenced Sections of the Lease, the referenced Sections of the Lease shall
control.

<TABLE>

<S>                                                        <C>
     1.   Building (See Section 1):                        Westside Plaza II
                                                           8300 Northwest 33(rd) Street
                                                           Miami, Florida 33122

     2.   Premises (See Section 1):

          Suite:                                           200

          Floor:                                           Second Floor

          Rentable Square Feet:                            27,058

     3.   Term (See Section 2):                            Five (5) years + Six (6) months

     4.   Base Rent - Initial Term (See Sections 2 and 3):
</TABLE>

  Lease Year         Rate Per Rentable        Monthly
  (in months)     Square Foot of Premises   Installment
---------------   -----------------------   -----------
Initial six (6)           $ 0.00            $     0.00
months of Term
     7-18                 $15.25            $34,386.21
    19-30                 $15.78            $35,581.27
    31-42                 $16.33            $36,821.43
    43-54                 $16.90            $38,106.68
    55-66                 $17.49            $39,437.04
-------------------------------------------------------

<TABLE>

<S>                                                        <C>
     5.  Tenant's Share (See Section 13):                  25.67%

     6.  Security Deposit (See Section 44):                $49,606.00 and a
                                                           $250,000.00 Letter of Credit

     7.  Landlord's Broker (See Section 53):               Codina Realty Services, Inc.
                                                           Oncor International

         Tenant's Broker (See Section 53):                 Cushman & Wakefield of
                                                           Florida, Inc.

     8.  Notice Address (See Section 54)                   Codina Real Estate
                                                           Management, Inc.
                                                           8323 N.W. 12th Street, Suite 115
                                                           Miami, Florida 33128
</TABLE>

<PAGE>

                                 LEASE AGREEMENT

     THIS LEASE AGREEMENT (hereinafter called the "Lease") is made and entered
into this        day of February, 1999, by and between CODINA WEST DADE
          ------
DEVELOPMENT CORP., No. 4, a Florida corporation (hereinafter called "Landlord");
and CELLIT, INC., a Florida corporation (hereinafter called "Tenant").

     1. Premises. Landlord does hereby rent and lease to Tenant and Tenant does
        --------
hereby rent and lease from Landlord, for general office purposes of a type
customary for first-class office buildings, the following described space
(hereinafter called the "Premises"):

     27,058 rentable square feet of space consisting of the entire 2(nd) floor
of a four-story building (the "Building") located on the real property described
in Exhibit "A" attached hereto (the "Property"), said Premises to be located as
   ----------
shown by diagonal lines on the drawing attached hereto as Exhibit "A-1" and made
                                                          ------------
a part hereof by reference. The Premises shall be prepared for Tenant's
occupancy in the manner and subject to the provisions of Exhibit "B" attached
                                                         ----------
hereto and made a part of hereof. Landlord and Tenant agree that the number of
rentable square feet described above has been confirmed and conclusively agreed
upon by the parties.

     2. Lease Term.
        ----------

          (a) Tenant shall have and hold the Premises for a term ("Term")
commencing on the date (the "Commencement Date") the general contractor delivers
to Tenant a certificate of occupancy from the appropriate governmental authority
for the Premises completed in accordance with the plans for the "Tenant
Improvements," as defined in Section 45 below. Assuming the "Space Plans," as
defined in Section 45 below, are delivered to Landlord on or before February 26,
1999, Landlord confirms that the Commencement Date shall be not later than June
18, 1999, and shall terminate at midnight on the last day (the "Expiration
Date") of the sixty sixth (66(th)) full calendar month following the
Commencement Date, unless sooner terminated or extended as hereinafter provided.
Promptly following the Commencement Date, Landlord and Tenant shall enter into a
letter agreement in the form attached hereto as Exhibit "C", specifying the
                                                ----------
Commencement Date, the Expiration Date and the exact amount of Base Rent payable
hereunder for the first Lease Year (as defined in Section 4 below). The
Commencement Date shall be accelerated by the "Delay Period," as defined below.
Furthermore, if a certificate of occupancy for the Premises is not delivered on
or before June 30, 1999 (subject to extension by an amount of time equal to the
Delay Period and due to force majeure), Landlord agrees to reimburse Tenant for
its "Relocation Costs," as defined below. In addition, if a certificate of
occupancy for the Premises is not delivered on or before August 31, 1999
(subject to extension by an amount of time equal to the Delay Period and due to
force majeure), unless Landlord agrees to reimburse Tenant for its "Relocation
Costs," as defined below, Tenant may elect to terminate this Lease ("Termination
Option") in which case all amounts paid by Tenant hereunder shall be returned to
Tenant and the parties shall be released from any and all liability hereunder.
Tenant must notify Landlord of its intent to terminate this Lease within five
(5) business days after August 31, 1999 (subject to extension by an amount of
time equal to the Delay Period and due to force majeure); if Tenant fails to
notify Landlord within such five (5) business day period, then Tenant's right to
terminate this Lease under this Section 2 shall terminate and be of no further
force or effect. The term "Relocation Costs" shall mean actual documented: (i)
moving costs from temporary premises, if any (other than Tenant's current
location), to the Premises and (ii) relocation of systems (computer, telephones,
etc.) (not to exceed Thirty Thousand Dollars ($30,000.00) for (i) and (ii) in
the aggregate); (iii) reprinting of announcement notices (not to exceed One
Thousand ($1,000.00) Dollars); and (iv) the increased (holdover) rent commencing
August 31, 1999 that Tenant is obligated to pay (and, in fact pays) to its
landlord under its current lease with Koala Miami Realty Holding Co. which shall
not exceed Nine Thousand and 00/100 Dollars

<PAGE>

($9,000.00), which amount shall be verified by delivery to Landlord of a
statement of current monthly rent obligation certified as true and correct by
the President of Tenant. Notwithstanding anything herein to the contrary, under
no circumstances whatsoever shall Landlord be liable for any payments to Tenant
in the event a certificate of occupancy for the Premises is delivered on or
before June 30, 1999.

          (b) Tenant shall have the option to renew the Lease for one term of
five (5) years ("Option Term") pursuant to the terms and conditions of this
Lease. The Base Rent during the Option Term shall be as follows:

               Rate Per Rentable
Option Term     Square Foot of       Monthly
Lease Year          Premises       Installment
-----------    -----------------   -----------
     1               $18.10        $40,812.48

     2               $18.73        $42,233.03

     3               $19.39        $43,721.22

     4               $20.07        $45,254.51

     5               $20.77        $46,832.89
----------------------------------------------

     Notice ("Exercise Notice") of Tenant's exercise of its option must be in
writing and received by Landlord at least nine (9) months prior to the
expiration of the initial Term of this Lease. In the event Tenant does not
notify Landlord of Tenant's intent to renew the Lease at least nine (9) months
prior to the expiration of the initial Term, time being of the essence, this
option to renew shall terminate and be null and void. Furthermore, Tenant shall
not be entitled to exercise this option to renew or extend if there are any
uncured defaults under the Lease. Landlord and Tenant shall, at the request of
either party, enter into an amendment to this Lease evidencing the exercise of
the foregoing option.

          (c) The Delay Period shall be equal to the sum of the following: (i)
the number of days after February 26, 1999 by which the Tenant delivers to
Landlord the Space Plans; (ii) delays due to, in Landlord's reasonable
discretion, Tenant's request to incorporate items or materials in the Tenant
Improvements that are not available by the time necessary to allow Landlord to
complete Tenant's Work by June 18, 1999 (Landlord will notify Tenant as soon as
reasonably possible upon Landlord's determination that certain items or
materials may not be available as required above); (iii) delays due to, in
Landlord's reasonable discretion, change orders requested by Tenant; and (iv)
delays incurred as a result of Tenant's interference with completion of the
Tenant Improvements due to Tenant working in the Premises as permitted by
Section 45(c). For example, assume that the general contractor delivers a
certificate of occupancy on July 15,1999 and that, but for the Delay Period, the
Commencement Date would be July 15, 1999. Assume also that the Space Plans were
delivered on February 26 and that change orders requested by Tenant created an
additional 10 days of delay. Accordingly, the Commencement Date would be June
29,1999 (July 15,1999 accelerated by the sum of [7 days (delay in delivering the
Space Plans) plus 10 days (delays due to change orders)].

     3. Base Rent. Tenant shall pay to Landlord, at Codina Real Estate
        ---------
Management Inc., 8323 N.W. 12(th) Street, Suite 115, Miami, Florida 33128, or at
such other place as Landlord shall designate in writing to Tenant, annual base
rent ("Base Rent") in the amounts set forth in the Basic Lease Provisions. The
term "Lease Year", as used in the Basic Lease Provisions and throughout this
Lease, shall mean each and every consecutive twelve (12) month period during the
Term of this Lease, with the first such twelve (12) month period commencing on
the seventh (7(th)) full calendar month following the Commencement Date;
provided,

                                       -2-

<PAGE>

however, if the Commencement Date occurs other than on the first day of a
calendar month the first Lease Year shall be that partial month plus the first
full twelve (12) months thereafter.

     4. Rent Payment.
        ------------

          (a) The Base Rent for each Lease Year shall be payable in equal
monthly installments, due on the first day of each calendar month, in advance,
in legal tender of the United States of America, without abatement, demand,
deduction or offset whatsoever, except as may be expressly provided in this
Lease. One full monthly installment of Base Rent shall be due and payable on the
date of execution of this Lease by Tenant for the first month's Base Rent and a
like monthly installment of Base Rent shall be due and payable on or before the
first day of each calendar month beginning with the eighth (8(th)) month
following the Commencement Date during the Term hereof; provided, that if the
Commencement Date should be a date other than the first day of a calendar
month, the monthly Base Rent installment paid on the date of execution-of this
Lease by Tenant shall be prorated to that partial calendar month, and the excess
shall be applied as a credit against the next monthly Base Rent installment.
Tenant shall pay, as Additional Rent, all other sums due from Tenant under this
Lease (the term "Rent", as used herein, means all Base Rent, Additional Rent and
all other amounts payable hereunder from Tenant to Landlord). Base Rent (but not
Additional Rent and other sums due hereunder) for the first six (6) calendar
months after the Commencement Date shall be permanently abated.

          (b) Tenant shall pay, in addition to the Rent due hereunder, all sales
and/or use tax assessed against the Rent stated herein by all governmental
authorities, even though the taxing statute or ordinance may purport to impose
such sales tax against the Landlord. The payment of sales tax shall be made by
Tenant to Landlord on a monthly basis, concurrently with payment of the Base
Rent.

     5. Late Charge. Other remedies for non-payment of Rent notwithstanding, if
        -----------
any monthly installment of Base Rent or Additional Rent is not received by
Landlord on or before the date due, or if any payment due Landlord by Tenant
which does not have a scheduled due date is not received by Landlord on or
before the fifth (5(th)) day following the date Tenant was invoiced. interest
shall accrue from the date past due until paid at the lower of eighteen percent
(18%) per annum or the highest rate permitted by applicable law ("Default
Rate").

     6. Partial Payment. No payment by Tenant or acceptance by Landlord of an
        ---------------
amount less than the Rent herein stipulated shall be deemed a waiver of any
other Rent due. No partial payment or endorsement on any check or any letter
accompanying such payment of Rent shall be deemed an accord and satisfaction,
but Landlord may accept such payment without prejudice to Landlord's right to
collect the balance of any Rent due under the terms of this Lease or any late
charge assessed against Tenant hereunder.

     7. Construction of this Agreement. No failure of Landlord to exercise any
        ------------------------------
power given Landlord hereunder, or to insist upon strict compliance by Tenant of
his obligations hereunder, and no custom or practice of the parties at variance
with the terms hereof shall constitute a waiver of Landlord's right to demand
exact compliance with the terms hereof. Time is of the essence of this Lease.

     8. Use of Premises.
        ---------------

          (a) Tenant shall use and occupy the Premises for general office
purposes of a type customary for first-class office buildings and for no other
purpose. The Premises shall not be used for any illegal purpose, nor in
violation of any valid regulation of any governmental body, nor in any manner to
create any nuisance or trespass, nor in any manner to vitiate the insurance or
increase the rate of insurance on the Premises or the Building, nor in any
manner inconsistent with the first-class nature of the Building.

                                       -3-

<PAGE>

          (b) Tenant shall not cause or permit the receipt, storage, use,
location or handling in the Premises nor cause or permit the receipt, storage,
use, location or handling on the Property (including the Building and Premises)
by any of its agents, employees, visitors, invitees, licensees or contractors
(collectively, "Tenant's Permitees") of any product, material or merchandise
which is explosive, highly inflammable, or a "hazardous or toxic material," as
that term is hereafter defined. "Hazardous or toxic material" shall include all
materials or substances which have been determined to be hazardous to health or
the environment, including, without limitation hazardous waste (as defined in
the Resource Conservation and Recovery Act); hazardous substances (as defined in
the Comprehensive Emergency Response, Compensation and Liability Act, as amended
by the Superfund Amendments and Reauthorization Act); gasoline or any other
petroleum product or by-product or other hydrocarbon derivative; toxic
substances, (as defined by the Toxic Substances Control Act); insecticides,
fungicides or rodenticide, (as defined in the Federal Insecticide, Fungicide,
and Rodenticide Act); asbestos and radon and substances determined to be
hazardous under the Occupational Safety and Health Act or regulations
promulgated thereunder. Notwithstanding the foregoing, Tenant shall not be in
breach of this provision as a result of the presence in the Premises of de
minimis amounts of hazardous or toxic materials which are in compliance with all
applicable laws, ordinances and regulations and are customarily present in a
general office use (e.g., copying machine chemicals and kitchen cleansers).

          (c) Notwithstanding anything herein to the contrary, Tenant shall
defend, indemnify, and hold harmless Landlord and Landlord's employees and other
agents from and against any claims, demands, penalties, fines, liabilities,
settlements, damages, costs, or expenses of any kind or nature, known or
unknown, contingent or otherwise (including, without limitation, accountants'
and attorneys' fees (including fees for the services of paralegals and similar
persons), consultant fees, investigation and laboratory fees, court costs, and
litigation expenses at the trial and all appellate levels), arising out of, or
in any way related to (a) the presence, disposal, release, or threatened
release, by or caused by Tenant or Tenant's Permitees, of any hazardous or toxic
materials which are on, from, or affecting the soil, water, vegetation,
buildings personal property, persons, animals or otherwise; (b) any personal
injury, including wrongful death, or damage to property, real or personal,
arising out of or related to such hazardous or toxic materials; (c) any lawsuit
brought, threatened, or settled by Legal Authorities or other parties, or order
by Legal Authorities, related to such hazardous or toxic materials; and/or (d)
any violation of Governmental Requirements related in any way to such hazardous
or toxic materials. The provisions of this Section shall survive the expiration
or termination of this Lease.

     9. Definitions. "Landlord," as used in this Lease, shall include the party
        -----------
named in the first paragraph hereof, its representatives, assigns and successors
in title to the Premises. "Tenant" shall include the party named in the first
paragraph hereof, its heirs and representatives, and, if this Lease shall be
validly assigned or sublet, shall also include Tenant's assignees or subtenants,
as to the Premises, or portion thereof, covered by such assignment or sublease.
"Landlord" and "Tenant" include male and female, singular and plural,
corporation, partnership, limited liability company (and the officers, members,
partners, employees or agents of any such entities) or individual, as may fit
the particular parties.

     10. Repairs By Landlord.
         -------------------

          (a) Tenant, by taking possession of the Premises, shall accept and
shall be held to have accepted the Premises as suitable for the use intended by
this Lease. Not later than five (5) business days after the Commencement Date,
Tenant shall submit a punch-list of any and all defects in the Premises which
are cosmetic in nature. Landlord shall exercise diligent, good faith efforts to
correct said punch-list items within forty five (45) days after receipt of such
punch-list, subject to availability of materials. Not later than thirty (30)
days after the Commencement Date, Tenant shall submit a punch-list of any and
all other defects in the Premises. Landlord shall exercise diligent, good faith
efforts to correct said additional punch-list items within forty five (45) days
after receipt of such punch-list, subject to availability of materials. Landlord
shall not be

                                       -4-

<PAGE>

required, after possession of the Premises has been delivered to Tenant, to make
any repairs or improvements to the Premises, except as set forth in this Lease.
Except for damage caused by casualty and condemnation (which shall be governed
by Section 28 and 29 below) and except and provided in Section 11, below, and
subject to normal wear and tear, Landlord shall maintain in good repair the
exterior walls, roof, common areas, foundation, structural portions and the
central portions of the Building's mechanical, electrical, plumbing and HVAC
systems (i.e., only those portions of central distribution, but not the branches
which serve only one tenant's space), provided such repairs are not occasioned
by Tenant, Tenant's Permitees or anyone in the employ or control of Tenant, and
provided further, that in the event Landlord or an affiliate of Landlord is
retained to complete the Tenant Improvements, then Landlord shall be liable for
any damage or injury to all or any part of the Building caused by Landlord or
its affiliate during installation of the Tenant Improvements.

          (b) (i) Except as provided in Section 11 below, Landlord shall perform
repairs to the Premises (which, for purposes of this Section 10 shall include
the branches of the Building's mechanical, electrical, plumbing and HVAC
systems, i.e., only those portions of such systems which serve only the Tenant)
requested by Tenant as soon as reasonably possible (but in no events less than
seven (7) days unless such repairs constitute an emergency) considering the
existing circumstances at the time. In the event repairs, other than repairs
which are "Material Repairs", as defined below, are not completed within a
reasonable period of time, not to exceed thirty (30) days after written notice
to Landlord (except if an emergency exists, in which case Tenant shall only be
obligated to provide notice to the extent reasonably possible under the
circumstances), then Tenant may, (but shall not be obligated to), make the
repairs to the Premises and shall be reimbursed by Landlord for said repairs
within a reasonable time, not to exceed thirty (30) days after delivery to
Landlord of Tenant's invoice and supporting documentation for the same. If
Landlord does not reimburse Tenant within such thirty (30) day period, then
Tenant shall be entitled to deduct from rent payable by Tenant under the Lease
the amount set forth in the invoice plus interest at the Default Rate from the
date of Tenant's invoice, provided, however, that if Landlord or the Holder of
any Security Documents delivers to Tenant, within thirty (30) days after receipt
of Tenant's invoice, a written objection to the payment of such invoice, setting
forth with reasonable particularity Landlord's or the Holder's, as the case may
be, reasons for its claim or contending that the charges are excessive (in which
case Landlord shall pay the amount it contends would not have been excessive),
then Tenant shall not be entitled to such deduction from rent, and as Tenant's
sole remedy, Tenant may submit the dispute to arbitration as outlined in (ii)
below. Notwithstanding any provision set forth in the Lease to the contrary, if
(1) Tenant provides prior written notice to Landlord of an event or circumstance
regarding a Material Repair which requires the action of Landlord with respect
to repair and/or maintenance, (2) Landlord is, in fact, required to perform
repairs and/or maintenance under the terms of the Lease, and (3) Landlord fails
to commence such action within a reasonable period of time, given the
circumstances, after the receipt of such notice, but in any event not later than
thirty (30) days after receipt of such notice, and thereafter diligently pursue
such action to completion as soon as reasonably possible, then Tenant may (but
shall not be obligated to) proceed to take the required action after delivery of
an additional thirty (30) day notice to Landlord and the Holder (as defined in
Section 31 hereof) of any Security Documents (as defined in Section 31 hereof)
for which Landlord has given Tenant an address for notices (such second notice
given not earlier than the expiration of the first aforesaid thirty (30) day
period) specifying that the first thirty (30) day period has expired, the
specific action required and that Tenant intends to make such required action.

               (ii) Tenant shall be entitled to make any such Material Repair
only if Landlord's failure to do so directly, materially and adversely affects
Tenant's use of the Premises. If Landlord believes that the requested Material
Repair is not required because it is not necessary pursuant to the terms of the
Lease, or if Landlord is already taking the Material Repair Landlord believes
appropriate in the circumstances in accordance with its obligations under the
Lease, Landlord shall have the option within said second thirty (30) day period
to submit the dispute to arbitration in the City of Miami, State of Florida,
pursuant to the commercial arbitration rules then in effect of the American
Arbitration Association (or at any other place or under any other form of
arbitration mutually acceptable to Landlord and Tenant) or commence the
requested Material Repair.

                                       -5-

<PAGE>

If such Material Repair is required under the terms of the Lease to be made by
Landlord and is not made by Landlord within such second thirty (30) day period
and Landlord has not submitted the dispute to arbitration, then Tenant shall be
entitled to prompt reimbursement by Landlord of Tenant's reasonable and
necessary, actual out-of-pocket costs and expenses in making such Material
Repair (and only such Material Repair as specified in the second thirty (30) day
notice given to Landlord). Such amounts shall be reimbursed by Landlord within
thirty (30) days after delivery to Landlord from Tenant of a detailed invoice
setting forth a particularized breakdown of the costs and expenses incurred in
connection with the Material Repair made by Tenant. In the event Tenant makes
such Material Repair, Tenant shall use only those contractors used by Landlord
in the Building for work on such systems or facilities unless such contractors
are unwilling or unable to perform, or timely perform, such work, in which event
Tenant may utilize the services of any other qualified contractor which normally
and regularly performs similar work in other first class office projects.
Further, if Landlord or the Holder of any Security Documents does not deliver a
detailed written objection to Tenant within thirty (30) days after Landlord's
receipt of an invoice by Tenant of its costs and expenses of making such
Material Repair which Tenant claims should have been made by Landlord, and if
such invoice from Tenant sets forth a particularized breakdown of its costs and
expenses incurred in connection with taking such Material Repair, then Tenant
shall be entitled to deduct from rent payable by Tenant under the Lease the
amount set forth in the invoice plus interest at the Default Rate from the date
of Tenant's invoice. If, however, Landlord or the Holder of any Security
Documents delivers to Tenant within thirty (30) days after receipt of Tenant's
invoice, a written objection to the payment of such invoice, setting forth with
reasonable particularity Landlord's reasons for its claim or that the charges
are excessive (in which case Landlord shall pay the amount it contends would not
have been excessive), then Tenant shall not be entitled to such deduction from
rent, but as Tenant's sole remedy, Tenant may submit the dispute to arbitration
in the City of Miami, State of Florida, pursuant to the commercial arbitration
rules then in effect of the American Arbitration Association (or at any other
place or under any other form of arbitration mutually acceptable to Landlord and
Tenant). If any arbitration conducted pursuant to this Section 10 determines
that Landlord shall pay an amount to Tenant and Landlord does not pay any such
amount as and when determined in such arbitration, then Tenant shall be entitled
to deduct the amount so unpaid by Landlord from the rent next falling due under
this Lease, with interest at the Default Rate on such unpaid amount from the
date such amount was required to be paid as determined in the arbitration. For
purposes of this Lease, the term "Material Repair" shall mean any repair to or
maintenance undertaking for the Premises which costs (including the costs of
preparing plans and permits, if required, and other "soft costs") in excess of
$5,000.

          (c) Landlord shall diligently pursue correction of any latent defect
discovered by Tenant and of which Landlord has been notified, in writing, within
one (1) year of the Commencement Date. Landlord's liability to correct latent
defects shall not extend beyond one (1) year from the Commencement Date except
for defects of which Landlord has been notified during such one (1) year period.

          (d) Notwithstanding anything in this Lease to the contrary, Tenant's
right of self-help contained in this Lease (whether under this Section 10 or
Section 20) is limited solely to the Premises and the branches of the Building's
mechanical, electrical, plumbing and HVAC systems, i.e., only those portions of
such systems which serve only the Tenant, and Tenant shall not be entitled nor
permitted to make repairs to the rest of the Building or the Property.

     11. Repairs By Tenant. Except as described in Section 10 above, Tenant
         -----------------
shall, at its own cost and expense, maintain the Premises in good repair and in
a neat and clean, first-class condition, including making all necessary repairs
and replacements. Tenant shall further, at its own cost and expense, repair or
restore any damage or injury to all or any part of the Building caused by Tenant
or Tenant's Permitees, including but not limited to any repairs or replacements
necessitated by (i) the construction or installation of improvements to the
Premises by or on behalf of Tenant, provided, however, that in the event
Landlord or an affiliate of Landlord is retained to complete the Tenant
Improvements, then Landlord shall be liable for any damage or injury to all or
any part of the Building caused by Landlord or its affiliate during installation
of the

                                       -6-

<PAGE>

Tenant Improvements or (ii) the moving of any Property into or out of the
Premises. If, after receipt of written notice from Landlord, Tenant fails to
make such repairs or replacements promptly, Landlord may, at its option, make
the repairs and replacements and the costs of such repair or replacements shall
be charged to Tenant as Additional Rent and shall become due and payable by
Tenant with the monthly installment of Base Rent next due hereunder.

     12. Alterations and Improvements. Except for minor, decorative alterations
         ----------------------------
which do not affect the Building structure or systems, are not visible from
outside the Premises and do not cost in excess of $10,000.00 in the aggregate,
Tenant shall not make or allow to be made any alterations, physical additions or
improvements in or to the Premises without first obtaining in writing Landlord's
written consent for such alterations or additions, which consent may be granted
or withheld in the sole, unfettered discretion of Landlord (if the alterations
will affect the Building structure or systems or will be visible from outside
the Premises), but which consent shall not be unreasonably withheld, delayed or
conditioned (if the alterations will not affect the Building structure or
systems and will not be visible from outside the Premises). Upon Landlord's
request, Tenant will furnish Landlord plans and specifications for any proposed
alterations, additions or improvements and shall reimburse Landlord for its
reasonable cost to review such plans. Any alterations, physical additions or
improvements shall at once become the property of Landlord; provided, however,
Landlord, at its option, may require Tenant to remove any alterations, additions
or improvements in order to restore the Premises to the condition existing on
the Commencement Date so long as Landlord gives Tenant notice of such
requirement in writing at the time Landlord renders its written consent. All
costs of any such alterations, additions or improvements shall be borne by
Tenant. All alterations, additions or improvements must be made in a good,
first-class, workmanlike manner and in a manner that does not disturb other
tenants (i.e., any loud work must be performed during non-business hours) and
Tenant must maintain appropriate liability and builder's risk insurance
throughout the construction. Tenant does hereby indemnify and hold Landlord
harmless from and against all claims for damages or death of persons or damage
or destruction of property arising out of the performance of any such
alterations, additions or improvements made by or on behalf of Tenant. Under no
circumstances shall Landlord be required to pay, during the Term of this Lease
and any extensions or renewals thereof, any ad valorem or property tax on such
alterations, additions or improvements, Tenant hereby covenanting to pay all
such taxes when they become due. In the event any alterations, additions,
improvements or repairs are to be performed by contractors or workmen other than
Landlord's contractors or workmen, any such contractors or workmen must first be
approved, in writing, by Landlord, which approval shall not be unreasonably
withheld, conditioned or delayed. Landlord agrees to assign to Tenant any rights
it may have against the contractor of the Premises with respect to any work
performed by said contractor in connection with improvements made by Landlord at
the request of Tenant.

     13. Operating Expenses.
         ------------------

          (a) Tenant agrees to reimburse Landlord throughout the Term, as
Additional Rent hereunder for Tenant's Share (as defined below) of the annual
Operating Expenses (as defined below). The term "Tenant's Share" shall mean the
percentage determined by dividing the rentable square footage of the Premises
(27,058) by the rentable square footage of the Building (105,403). Landlord and
Tenant hereby agree that Tenant's Share is twenty-five and 67/00 percent
(25.67%). If Tenant does not occupy the Premises during the entire full calendar
year in which the Term of this Lease commences or ends, Tenant's Share of
Operating Expenses for the applicable calendar year shall be appropriately
prorated for the partial year, based on the number of days Tenant has occupied
the Premises during that year.

          (b) Operating Expenses shall be all those expenses of operating,
servicing, managing, maintaining and repairing the Property, Building, all
parking areas and related Common Areas (as well as an allocation of certain
Building and Property expenses, as reasonably allocated by Landlord to the
Building and the Property) in a manner deemed by Landlord reasonable and
appropriate and in the best interest of the tenants of the Building in a manner
consistent with first-class office buildings in the Airport/West Dade

                                       -7-

<PAGE>

Submarket (the "A/WD Submarket") and in accordance with the Declaration (the
"Declaration") of Covenants, Conditions and Restrictions for Westside Corporate
Center (the "Project"), filed March 31,1989, in Official Records Book 14054 at
Page 1013 in the Public Records of Miami-Dade County, Florida, as amended.
Operating Expenses shall include, without limitation, the following:

               (1) All taxes and assessments, whether general or special,
applicable to the Property and the Building, which shall include real and
personal property ad valorem taxes based on the maximum allowable discounts, and
any and all reasonable costs and expenses incurred by Landlord in seeking a
reduction of any such taxes and assessments. However, Tenant shall not be
obligated for taxes on the net income from the operation of the Building, unless
there is imposed in the future a tax on rental income on the Building in lieu of
the real property ad valorem taxes, in which event such tax shall be deemed an
Operating Expense of the Building. Landlord may employ professionals to contest
the tax burden on the Property, and the reasonable cost thereof, as well as any
reasonable fees, expenses and costs incurred in contesting any assessments,
levies or the tax rate applicable to the Property, shall be Operating Expenses.
In the event any assessments may be paid in installments, only the installment
of such assessment as would have been payable by Landlord during such year had
Landlord elected to pay such assessment in the maximum number of installments
permitted by law, together with all interest accrued thereon, shall be payable.

               (2) Insurance premiums and deductible amounts, including, without
limitation, for commercial general liability, "all risks" property, rent loss
and other coverages carried by Landlord on the Building and Property.

               (3) All utilities, including, without limitation, water, power,
heating, lighting, ventilation, sanitary sewer and air conditioning of the
Building, but not including those utility charges actually paid by Tenant or
other tenants of the Building.

               (4) Janitorial and maintenance expenses, including:

                    (i) Janitorial services and janitorial supplies and other
               materials used in the operation and maintenance of the Building;
               and

                    (ii)The cost of maintenance and service agreements on
               equipment, window cleaning, grounds maintenance, pest control,
               security, trash and snow removal, and other similar services or
               agreements.

               (5) Management fees consistent with those charged by other
first-class office buildings in the A/WD Submarket and the market rental value
of a management office(or a charge equal to fair market management fees if
Landlord provides its own management services);

               (6) The costs, including interest, of any capital improvement
made to the Building by or on behalf of Landlord after the date of this Lease
which is required under any governmental law or regulation (or any judicial
interpretation thereof) that was not applicable to the Building as of the date
of this Lease, and the cost, including interest, of the acquisition and
installation of any device or equipment designed to improve the operating
efficiency of any system within the Building. All such costs shall be amortized
on a straight line basis with a reasonable market interest rate over the
reasonable life of the capital investment items, with the reasonable life and
amortization schedule being determined in accordance with generally accepted
accounting principles except that in connection with the acquisition and
installation of any device or equipment designed to improve the operating
efficiency of any system within the Building, the annual costs shall not exceed
the annual savings reasonably projected by Landlord at the time of installation
of such device or equipment.

                                       -8-

<PAGE>

               (7) All services, supplies, repairs, replacements or other
expenses directly and reasonably associated with servicing, maintaining,
managing and operating the Building, including, but not limited to the lobby,
vehicular and pedestrian traffic areas and other Common Areas and including
reimbursements to Tenant for costs and expenses incurred by Tenant and
reimbursed by Landlord pursuant to Sections 10 and 20 of this Lease.

               (8) Wages and salaries of Landlord's employees identified on
Exhibit "D" engaged in the maintenance, operation, repair and services of the
----------
Building, including taxes, insurance and customary fringe benefits.

               (9) Legal and accounting costs.

               (10)Costs to maintain and repair the Building and Property.

               (11)Landscaping and security costs unless Landlord hires a third
party to provide such services pursuant to a service contract and the cost of
that service contract is already included in Operating Expenses as described
above.

               (12)The Building's allocated share (as reasonably be determined
by Landlord) of certain expenses not a capital nature except as provided in
(b)(6), above, which are incurred on a Project-wide basis including, without
limitation, costs in connection with (i) landscaping, (ii) utility and road
repairs, (iii) security, (iv) signage installation, replacement and repair, (v)
taxes or assessments which are not assessed against a particular building or the
parcel on which it is located, and (vi) all charges and assessments which are
assessed pursuant to the Declaration.

               Notwithstanding anything to the contrary contained herein,
Operating Expenses shall not include the following items (the "Excluded
Expenses"):

                    (i) The cost of any repairs, alterations, additions,
changes, replacements and other items which, under generally accepted accounting
principles, are classified as capital expenditures or capital improvements,
except as specifically contemplated by Section 13(b)(6) above.

                    (ii)Payments of principal and interest or other finance
charges made on any debt.

                    (iii) Non-cash items, such as deductions for depreciation
and amortization of debts, other than pursuant to Section 13(b)(6) above.

                    (iv)Leasing and/or brokerage commissions, attorneys' fees,
costs, disbursements and other expenses incurred in connection with negotiations
of leases with tenants or prospective tenants or disputes or litigation with any
such parties.

                    (v) Costs or expenses specifically relating to another
tenant's or occupant's space which were incurred in rendering any service or
benefit to such tenant or occupant for a service or benefit in excess of the
service or benefit that Landlord is required to provide Tenant hereunder.

                    (vi)Income, excess profits or franchise taxes, inheritance
taxes, transfer taxes and fees or other such taxes imposed on or measured by
the income of Landlord from the operation of the Building.

                                       -9-

<PAGE>

                    (vii) Except for costs not in excess of commercially
reasonable deductibles, the cost of repairing or restoring the Building, or any
part thereof, that may be damaged or destroyed by any casualty or affected by
condemnation, whether or not insurance proceeds or condemnation awards are
recovered or are adequate for such purpose.

                    (viii All costs, concessions (including, without
limitation, rent abatement and construction allowances) and expenses incurred in
leasing or procuring new tenants or retaining existing tenants, including,
without limitation, advertising, printing supplies and promotional expenses,
leasing commissions and expenses for preparation of leases or renovating space
for new or existing tenants, or in enforcing the terms of any lease of space or
in connection with any change in the name of the Building.

                    (ix)  Rental payments or other charges payable under or
pursuant to any ground lease between a third party, as lessor, and the Landlord,
as lessee, and any future ground lease, unless such payments or charges relate
to items which are includable in items (b)(1) through (b)(12), above.

                    (x)   The cost of all items, goods and services, including
utilities sold and supplied to tenants for which Tenant, any tenant or occupant
of the Building or other third party, including insurers, directly reimburses
Landlord, except through operating expense reimbursement provisions.

                    (xi)  If applicable, the cost of installing, operating and
maintaining any specialty service, such as, but not limited to, an observatory,
broadcasting facility, luncheon club, retail store, sundry shop, newsstand, car
wash, concession, athletic or recreational club.

                    (xii) Any payment of, or on account of, a fee paid to any
person or entity in connection with the wrongful termination of any management
person, entity, consultant or other third party retained to provide services to
the Building.

                    (xiii) Any costs or expenses incurred in connection with the
sale, financing, refinancing, mortgaging, syndicating or change of ownership of
the Building or any part thereof, including, without limitation, brokerage
commissions, attorneys' and accountants' fees, closing costs, title insurance
premiums, appraisals, marketing studies, transfer taxes and interest charges.

                    (xiv) Any insurance premium to the extent that Landlord is
entitled to be reimbursed therefor by any other tenant of the Building other
than as a part of Operating Expenses.

                    (xv)  Any amount paid as a penalty as a result of a willful
violation of law by Landlord and any amount paid by Landlord to remediate any
substance which was released, used or disposed of by Landlord and, at the time
of such release, use or disposal, was a hazardous or toxic substance as defined
by the then existing Governmental Requirements.

                    (xvi) All liabilities, damages, awards and judgments for
injury or death to persons and for property damage arising from the ownership or
operation of the Building, and all court costs, attorneys' fees, paralegal fees,
expert witness fees and disbursements incurred in connection therewith.

                    (xvii)The cost of any items for which Landlord is
reimbursed by insurance or which is otherwise recovered or recoverable from
third parties, except to the extent of commercially reasonable deductibles.

                    (xviii)Any cost or expense otherwise constituting an
Operating Expense that is paid to any related party or affiliate of Landlord and
which is in excess of what is reasonable for comparable service from an
independent party of comparable experience and skill.

                                      -10-

<PAGE>

                    (xix) Any payment made pursuant to a lease or similar
arrangement relating to an asset or other item, the cost of which, if the same
were purchased, would be depreciated or amortized as a capital expenditure in
accordance with generally accepted accounting principles, where such lease or
other arrangement is essentially a financed purchase of such asset or item.

                    (xx)  Charitable-type and political contributions of
Landlord.

          (c) Landlord shall, on or before the Commencement Date and on or
before December 20 of each calendar year, provide Tenant a statement of the
estimated monthly installments of Tenant's Share of Operating Expenses which
will be due for the remainder of the calendar year in which the Commencement
Date occurs or for the upcoming calendar year, as the case may be. By March 1 of
the following calendar year during the Term of this Lease, Landlord shall
furnish to Tenant an itemized statement of the Operating Expenses within the
Building for the calendar year then ended. Upon reasonable prior written request
given not later than thirty (30) days following the date Landlord's statement is
delivered to Tenant, Tenant may have access to Landlord's records in order to
audit or otherwise verify such expenses. Landlord will make such records
available during normal business hours at the place where such records are
normally kept. If Tenant does not notify Landlord of any objection to Landlord's
itemized statement within thirty (30) days of Landlord's delivery thereof,
Tenant shall be deemed to have accepted such statement as true and correct and
shall be deemed to have waived any right to dispute the excess Operating
Expenses due pursuant to that statement.

               (1) Tenant shall pay to Landlord, together with its monthly
payment of Base Rent as provided in Sections 3 and 4 hereinabove (except with
respect to the initial six (6) months of the Lease when Base Rent Is not due and
payable but Additional Rent is due and payable), as Additional Rent hereunder,
the estimated monthly installment of Tenant's Share of the Operating Expenses
for the calendar year in question. At the end of any calendar year if Tenant has
paid to Landlord an amount in excess of Tenant's Share of Operating Expenses for
such calendar year, Landlord shall reimburse to Tenant any such excess amount
(or shall apply any such excess amount to any amount then owing to Landlord
hereunder, and if none, to the next due installment or installments of
Additional Rent due hereunder, at the option of Landlord). At the end of any
calendar year if Tenant has paid to Landlord less than Tenant's Share of excess
Operating Expenses for such calendar year, Tenant shall pay to Landlord any such
deficiency within thirty (30) days after Tenant receives the annual statement.
If it is determined by an audit that Landlord overstated Tenant's share of
Operating Expenses by more than five percent (5%) in the aggregate and Tenant
paid such overstated amount, Landlord shall also reimburse Tenant for the
reasonable cost of the audit within thirty (30) days after demand by Tenant,
together with interest at the Default Rate from the date of such demand by
Tenant until the date when payment has been made.

               (2) For the calendar year in which this Lease terminates, and is
not extended or renewed, the provisions of this Section shall apply, but
Tenant's Share for such calendar year shall be subject to a pro rata adjustment
based upon the number of days prior to the expiration of the Term of this Lease.
Tenant shall make monthly estimated payments of the prorata portion of Tenant's
Share for such calendar year (in the manner provided above) and when the actual
prorated Tenant's Share for such calendar year is determined Landlord shall send
a statement to Tenant and if such statements reveals that Tenant's estimated
payments for the prorated Tenant's Share for such calendar year exceeded the
actual prorated Tenant's Share for such calendar year, Landlord shall include a
check for that amount along with the statement. If the statement reveals that
Tenant's estimated payments for the prorated Tenant's Share for such calendar
year were less than the actual prorated Tenant's Share for such calendar year,
Tenant shall pay the shortfall to Landlord within thirty (30) days of the date
Tenant receives Landlord's statement.

               (3) If the Building is less than ninety-five percent (95%)
occupied throughout any calendar year of the Term, then the actual Operating
Expenses for the calendar year in question shall be increased to the amount of
Operating Expenses which Landlord reasonably determines would have been

                                      -11-

<PAGE>

incurred during that calendar year if the Building had been fully occupied
throughout such calendar year. In no event, however, shall Landlord be entitled
to collect from tenants of the Building during any calendar year an amount in
excess of the actual Operating Expenses incurred by Landlord for such calendar
year.

          (d) It is estimated that the Operating Expenses for the first calendar
year will be $6.75 per rentable square foot. Landlord represents that, to the
best of its knowledge, such amount contains the real property ad valorem tax
amount for the Building on a fully assessed basis. The foregoing is a
non-binding estimate and the actual amount of such expenses may differ,
provided, however, that Tenant shall not be required to pay more than $6.75 per
rentable square foot during the first calendar year of the Lease Term.
Notwithstanding anything to the contrary, increases in the "Aggregate
Controllable Expenses (as hereinafter defined) during the initial Term of this
Lease shall not exceed five percent (5%) per year on a cumulative compounded
basis. As used herein, "Aggregate Controllable Expenses" shall mean the
aggregate amount of all Operating Expenses other than real estate taxes,
utilities and insurance.

     14. Landlord's Failure to Give Possession. Except as provided in Section 2,
         -------------------------------------
above, Landlord shall not be liable for damages to Tenant for failure to deliver
possession of the Premises to Tenant if such failure is due to no fault of
Landlord, to the failure of any construction or remodeling of the Premises by
Tenant to be completed or to the failure of any previous tenant to vacate the
Premises. Landlord will use its diligent, good faith efforts to give possession
to Tenant by the scheduled Commencement Date of the Term.

     15. Acceptance and Waiver. Landlord shall not be liable to Tenant, or
         ---------------------
Tenant's Permitees, or both of them (and, if Tenant is a corporation, its
officers, directors or employees) for any damage caused to any of them due to
the Building or any part or appurtenances thereof being improperly constructed
or being or becoming out of repair, or arising from the leaking of gas, water,
sewer or steam pipes, or from electricity, but Tenant, by moving into the
Premises and taking possession thereof, shall accept, and shall be held to have
accepted the Premises as suitable for the purposes for which the same are
leased, and shall accept and shall be held to have accepted the Building and
every appurtenances thereof, and Tenant by said act waives any and all defects
therein; provided, however, that this Section shall not apply to any damages or
injury caused by or resulting from the negligence or willful misconduct of
Landlord. In accordance with Section 10, above, Landlord shall exercise
diligent, good faith efforts to correct punch-list items within forty five (45)
days after receipt of the punch-list, subject to availability of materials.

     16. Signs. A Building standard suite entry shall be installed on the door
         -----
to the Premises or adjacent to the entry to the Premises and in the lobby
directory as part of the Work, as defined in Exhibit "B", at Landlord's cost.
                                             ----------
Otherwise, Tenant shall not paint or place signs, placards, or other
advertisement of any character upon the windows or inside walls of the Premises
except with the consent of Landlord which consent may be withheld by Landlord in
its absolute discretion, and except as provided herein, Tenant shall place no
signs upon the outside walls, common areas or the roof of the Building.

          Subject to applicable "Governmental Requirements," as defined In
Section 23 below, and the rules and regulations, if any, of the Project, and for
so long as Tenant is leasing not less than 27,058 rentable square feet pursuant
to this Lease, and provided that Tenant is not in default under this Lease after
expiration of any applicable cure period, Tenant may place and maintain, with
the prior written approval of Landlord, which shall not be unreasonably
withheld, delayed or conditioned, on the northern side of the Building, at the
westernmost spot for signage on said northern side of the Building, at its sole
cost and expense, signage displaying Tenant's name and or logo. At the end of
the Term, upon surrender of the Premises or upon the removal or alteration of
the sign, Tenant shall repair, paint, and/or replace in a first-class manner the
Building fascia surface where sign was attached. Tenant shall not be entitled to
signage at the entrance of the parking lot servicing the Building or any other
monument signage.

                                      -12-

<PAGE>

     17. Advertising. Landlord may advertise the Premises as being "For Rent" at
         -----------
any time following a default by Tenant which remains uncured and at any time
within one hundred eighty (180) days prior to the expiration, cancellation or
termination of this Lease for any reason and during any such periods may exhibit
the Premises to prospective tenants.

     18. Removal of Fixtures. If Tenant is not in default hereunder after any
         -------------------
applicable cure period, Tenant may, prior to the expiration of the Term of this
Lease, or any extension thereof, remove any fixtures and equipment which it has
placed in the Premises which can be removed without significant damage to the
Premises, provided Tenant repairs all damages to the Premises caused by such
removal.

     19. Entering Premises. Landlord may enter the Premises at reasonable
         -----------------
hours provided that Landlord's entry shall not unreasonably interrupt Tenant's
business operations and that prior notice is given when reasonably possible
(and, if in the reasonable opinion of Landlord any emergency exists, at any time
and without notice): (a) to make repairs, perform maintenance and provide other
services described in Section 20 below (no prior notice is required to provide
routine services) which Landlord is obligated to make to the Premises or the
Building pursuant to the terms of this Lease or to the other premises within the
Building pursuant to the leases of other tenants; (b) to inspect the Premises to
see that Tenant is complying with all of the terms and conditions of this Lease
and with the rules and regulations hereof; (c) to remove from the Premises any
articles or signs kept or exhibited therein in violation of the terms hereof;
and (d) to exercise any other right or perform any other obligation that
Landlord has under this Lease. Landlord shall be allowed to take all material
into and upon the Premises that may be required to make any repairs,
improvements and additions, or any alterations, without in any way being deemed
or held guilty of trespass and without constituting a constructive eviction of
Tenant. The Rent reserved herein shall not abate while said repairs, alterations
or additions are being made unless such repairs, alterations or additions are
due to the gross negligence or willful misconduct of Landlord (and only then to
the extent of that portion of the Premises which Tenant is unable to use during
the period of repair or alteration, but in no event shall Tenant be entitled to
maintain a set-off or counterclaim for damages against Landlord by reason of
loss from interruption to the business of Tenant because of the prosecution of
any such work). All such repairs, decorations, additions and improvements shall
be done during ordinary business hours, or, if any such work is at the request
of Tenant to be done during any other hours, the Tenant shall pay all overtime
and other extra costs.

     20. Services.
         --------

          (a) The normal business hours of the Building shall be from 8:00 A.M.
to 6:00 P.M. on Monday through Friday, and 8:00 A.M. to 1:00 P.M. on Saturday,
exclusive of holidays reasonably designated by Landlord ("Building Holidays").
Initially and until further notice by Landlord to Tenant, the Building Holidays
shall be: New Year's Day, Memorial Day, Independence Day, Labor Day,
Thanksgiving (and the day after Thanksgiving) and Christmas. Landlord shall
furnish the following services during the normal business hours of the Building
except as noted:

               (1) Elevator service for delivery needs and elevator service 24
hours a day, seven days a week for passenger needs;

               (2) Air conditioning at levels in keeping with that generally
provided in similar, first class office buildings in the A/WD Submarket, subject
to "Governmental Requirements," as defined below. (Tenant shall be permitted to
install a separately-metered supplemental air conditioning unit for use by
Tenant, in its computer room and other areas in the Premises designated by
Tenant provided: (i) Landlord approves the plans and specifications of such
unit, which approval shall not be unreasonably withheld; (ii) Landlord approves
of the contractor retained to install such unit. which approval shall not be
unreasonably withheld and the contractor complies with such requirements as
Landlord shall reasonably require; and (iii)Tenant pays all

                                      -13-

<PAGE>

costs of installing, maintaining and operating such unit [including, but not
limited, to all utilities associated therewith]);

               (3) Hot and cold running water for all restrooms and lavatories
24 hours a day, seven days a week;

               (4) Soap, paper towels, and toilet tissue for public restrooms;

               (5) Janitorial service Monday through Friday, in keeping with the
standards generally maintained in the A/WD Submarket;

               (6) Custodial, electrical and mechanical maintenance services are
provided Monday through Friday;

               (7) Electric power for lighting and outlets 24 hours a day, seven
days a week not in excess of a total of 3 watts per rentable square foot of the
Premises at 100% connected load;

               (8) Replacement of Building standard lamps and ballasts as
needed;

               (9) Repairs and maintenance as described in Section 10 of this
Lease; and

               (10)General management, including supervision, inspections,
recordkeeping, accounting, leasing and related management functions.

          (b)The services provided in subparagraph (a) herein, and the amount of
Rent prescribed herein, are predicated on and are in anticipation of certain
usage of the Premises by Landlord as follows:

               (1) Air conditioning and heating design is based on occupancy
levels and electrical usage in keeping with that generally provided in similar,
first class office buildings in the A/WD Submarket; and

               (2) Tenant shall have no right to any services in excess of those
provided herein, except that, subject to payment therefor by Tenant as provided
in this Section 20(b)(2), Tenant shall be entitled to air conditioning and
heating at any and all times requested by Tenant upon reasonable notice to
Landlord. If Tenant uses services in an amount or for a period in excess of that
provided for herein, including air conditioning and heating, then Landlord
reserves the right to: charge Tenant as Additional Rent hereunder a reasonable
sum as reimbursement for the direct cost of such added services; charge Tenant
for the cost of any additional equipment or facilities or modifications thereto,
necessary to provide the additional services; and/or to discontinue providing
such excess services to Tenant. In the event of disagreement as to the
reasonableness of the amount of such charge, the opinion of the appropriate
local utility company or an independent professional engineering firm selected
by Landlord in its reasonable discretion as to the amount of such charge shall
prevail.

          (c)Except as provided in this subsection (c), Landlord shall not be
liable for any damages directly or indirectly resulting from the interruption in
any of the services ("service interruption") described above, nor shall any such
interruption entitle Tenant to any abatement of Rent or any right to terminate
this Lease. Landlord shall use all reasonable efforts to furnish uninterrupted
services as required above. For purposes of this Lease, the term "service
interruption" shall mean an interruption caused by the gross negligence or
willful misconduct of Landlord with respect to the facilities, utilities and
services set forth above in Section 20 of this Lease which renders the Premises
(or material portion thereof) untenantable for the purposes for which it is then
being used and which interruption was not caused by the act or omission of

                                      -14-

<PAGE>

Tenant, its employees, licensees, invitees, agents or contractors. Upon the
occurrence of a service interruption, the Tenant shall have the right to give
written notice ("Tenant's Notice") to Landlord, which notice shall indicate the
specific nature of the problem and shall include the following language in
bold-face type: "IF LANDLORD SHALL FAIL TO COMMENCE CURATIVE ACTION WITHIN TWO
(2) BUSINESS DAYS, TENANT AT ITS OPTION SHALL HAVE THE RIGHT TO EXERCISE ITS
REMEDIES UNDER THE LEASE, INCLUDING SELF-HELP". If, within a period of two (2)
business days after Landlord's receipt of Tenant's Notice, Landlord fails to
commence action to correct such service interruption or thereafter fails to
diligently pursue such correction until such service interruption is cured, then
Tenant shall be entitled to the following remedies: (i) with respect to a
service interruption in the Premises (which, for purposes of this Section 20
shall include the branches of the Building's mechanical, electrical, plumbing
and HVAC systems, i.e., only those portions of such systems which serve only the
Tenant), after written notice to Landlord of its intent to do so, Tenant may
commence and prosecute such steps as may be reasonably necessary or proper to
correct such service interruption, in which case (with respect to a service
interruption caused by the gross negligence or willful misconduct of Landlord)
Landlord shall reimburse Tenant within twenty (20) days after receipt of demand
and copies of appropriate supporting documentation, all reasonable and customary
funds expended by Tenant in curing such failure. If Landlord does not reimburse
Tenant within such twenty (20) day period, then Tenant shall be entitled to
deduct from rent payable by Tenant under the Lease the amount set forth in the
supporting documentation plus interest at the Default Rate from the date of
Landlord's receipt of Tenant's documentation), and (ii) if the service
interruption caused by the gross negligence or willful misconduct of Landlord
continues for a period of five (5) or more consecutive business days after
Landlord's receipt of Tenant's Notice, Tenant shall be entitled to abatement of
Rent as to any portion or portions of the Premises that are untenantable due to
such service interruption (whether or not Landlord is attempting to cure same)
until such time as such portion or portions are again rendered tenantable; such
abatement shall commence on the sixth (6th) business day after Landlord's
receipt of Tenant's Notice and shall continue until the space is again
tenantable.

     21. Indemnities. Tenant does hereby indemnify and save harmless Landlord
         -----------
against all claims for damages to persons or Property which are caused anywhere
in the Building or on the Property caused by the negligence or willful
misconduct of Tenant, or Tenant's Permitees, or which occur in the Premises (or
arise out of actions taking place in the Premises) unless such damage is caused
by the gross negligence or willful misconduct of Landlord, its agents, or
employees. Landlord does hereby indemnify and hold Tenant harmless against all
claims for damage to persons or property which occurs in the Building or the
Property (other than in the Premises) if caused by the negligence or willful
misconduct of Landlord, its agents or employees. The indemnities set forth
hereinabove shall include the application to pay reasonable expenses incurred by
the indemnified party, including, without limitation, reasonable, attorneys' and
paralegal fees. The indemnities contained herein do not override the waivers
contained in Section 22(d) below.

     22. Tenant's Insurance: Waivers.
         ---------------------------

          (a) Tenant further covenants and agrees that from and after the date
of delivery of the Premises from Landlord to Tenant, Tenant will carry and
maintain, at its sole cost and expense, the following types of insurance, in the
amounts specified and in the form hereinafter provided for:

               (1) Liability Insurance in the Commercial General Liability form
(or reasonable equivalent thereto) covering the Premises and Tenant's use
thereof against claims for personal injury or death, property damage and product
liability occurring upon, in or about the Premises, such insurance to be written
on an occurrence basis (not a claims made basis), to be in combined single
limits amounts not less than $3,000,000 and to have general aggregate limits of
not less than $5,000,000 for each policy year. The insurance coverage required
under this Section 22(a)(1) shall, in addition, extend to any liability of
Tenant arising out of the indemnities provided for in Section 21 and, if
necessary, the policy shall contain a contractual endorsement to that effect.
The general aggregate limits under the Commercial General Liability insurance

                                      -15-

<PAGE>

policy or policies must apply separately to the Premises and to Tenant's use
thereof (and not to any other location or use of Tenant) and such policy shall
contain an endorsement to that effect. The certificate of insurance evidencing
the Commercial General Liability form of policy shall specify all endorsements
required herein and shall specify on the face thereof that the limits of such
policy applies separately to the Premises.

               (2) Insurance covering all of the items included in Tenant's
leasehold improvements, heating, ventilating and air conditioning equipment
maintained by Tenant, trade fixtures from time to time in, on or upon the
Premises, and alterations, additions or changes made by Tenant pursuant to
Section 12, in an amount not less than one hundred percent (100%) of their full
replacement value from time to time during the Term, providing protection
against perils included within the standard form of "all-risks" fire and
casualty insurance policy, together with insurance against sprinkler damage,
vandalism and malicious mischief. Any policy proceeds from such insurance shall
be held in trust by Tenant's insurance company for the repair, construction and
restoration or replacement of the property damaged or destroyed unless this
Lease shall cease and terminate under the provisions of Section 28 of this
Lease.

               (3) Workers' Compensation and Employer's Liability insurance
affording statutory coverage and containing statutory limits with the Employer's
Liability portion thereof to have minimum limits of $100,000.00.

          (b) All policies of the insurance provided for in Section 22(a) shall
be issued in form reasonably acceptable to Landlord by insurance companies with
a rating and financial size of not less than A-X in the most current available
"Best's Insurance Reports", and licensed to do business in the state in which
Landlord's Building is located. Each and every such policy:

               (1) shall name Landlord as an additional insured (as well as any
mortgagee of Landlord and any other party reasonably designated by Landlord) and
the coverage in (1) and (2) shall also name Landlord as loss payee.

               (2) shall (and a certificate thereof shall be delivered to
Landlord at or prior to the execution of the Lease) be delivered to each of
Landlord and any such other parties in interest within thirty (30) days after
delivery of possession of the Premises to Tenant and thereafter within thirty
(30) days prior to the expiration of each such policy, and, as often as any such
policy shall expire or terminate. Renewal or additional policies shall be
procured and maintained by Tenant in like manner and to like extent;

               (3) shall contain a provision that the insurer will give to
Landlord and such other parties in interest at least thirty (30) days notice in
writing in advance of any material change, cancellation, termination or lapse,
or the effective date of any reduction in the amounts of insurance; and

               (4) shall be written as a primary policy which does not
contribute to and is not in excess of coverage which Landlord may carry.

          (c) Any insurance provided for in Section 22(a) may be maintained by
means of a policy or policies of blanket insurance, covering additional items or
locations or insureds, provided, however, that:

               (1) Landlord and any other parties in interest from time to time
designated by Landlord to Tenant shall be named as an additional insured
thereunder as its interest may appear;

               (2) the coverage afforded Landlord and any such other parties in
interest will not be reduced or diminished by reason of the use of such blanket
policy of insurance;

                                      -16-

<PAGE>

               (3) any such policy or policies [except any covering the risks
referred to in Section 22(a)] shall specify therein (or Tenant shall furnish
Landlord with a written statement from the insurers under such policy
specifying) the amount of the total insurance allocated to the Tenant
improvements and property more specifically detailed in Section 22(a); and

               (4) the requirements set forth in this Section 22 are otherwise
satisfied.

          (d) Notwithstanding anything to the contrary set forth hereinabove,
Landlord and Tenant do hereby waive any and all claims against one another for
damage to or destruction of real or personal property to the extent such damage
or destruction can be covered by "all risks" property insurance of the type
described in Section 22(a)(2) above. Each party shall also be responsible for
the payment of any deductible amounts required to be paid under the applicable
"all risks" fire and casualty insurance carried by the party whose property is
damaged. These waivers shall apply if the damage would have been covered by a
customary "all risks" insurance policy, even if the party fails to obtain such
coverage. The intent of this provision is that each party shall look solely to
its insurance with respect to property damage or destruction which can be
covered by "all risks" insurance of the type described in Section 22(a)(2). To
further effectuate the provisions of this Section 22(d), Landlord and Tenant
both agree to provide copies of this Lease (and in particular, these waivers) to
their respective insurance carriers and to require such insurance carriers to
waive all rights of subrogation against the other party with respect to property
damage covered by the applicable "all risks" fire and casualty insurance policy.

          (e) Landlord shall maintain such insurance coverages as required by
any institutional lender or lenders holding a mortgage encumbering its interest
in the Property or, in the event no such mortgages exist, Landlord shall
maintain at least $2,000,000 of Comprehensive General Liability Insurance,
casualty insurance in an amount approximately equal to the replacement cost of
the Building, in Landlord's reasonable opinion, and such other insurance
coverages for the Building and the Property as it reasonably deems necessary or
advisable. All premiums and other expenses of maintaining such insurance shall
be Operating Expenses under Section 13 (b) 2 of this Lease.

     23. Governmental Requirements. Tenant shall, at its own expense, promptly
         -------------------------
comply with all laws, rules, regulations, ordinances and requirements,
including, without limitation, the Americans with Disabilities Act, of all
municipal, local, county, state, federal and other applicable governmental
authorities ("Governmental Requirements") made necessary by reason of Tenant's
particular use and type of occupancy of the Premises. Landlord represents that,
to its knowledge, as of the date of this Lease, the Building, the Premises and
the parking areas are in compliance with Governmental Requirements.

     24. Abandonment of Premises. In the event Tenant abandons or vacates the
         -----------------------
Premises for more than one hundred eighty (180) consecutive days, Landlord may
elect to terminate this Lease and recapture all of the Premises, in which case
this Lease shall terminate, the then remaining Security Deposit shall be
returned to Tenant (after payment of expenses of repairing any damage to the
Premises [except natural wear and tear occurring from normal use of the
Premises, damage from casualty or condemnation] and any Rent or Additional Rent
still then due) and the parties shall be relieved of any and all obligations
hereunder except for those which specifically survive termination of this Lease.

     25. Assignment and Subletting.
         -------------------------

     (a) Except as provided below, Tenant may not, without the prior written
consent of Landlord, which consent shall not be unreasonably withheld, assign
this Lease or any interest hereunder, or sublet the Premises or any part
thereof, or permit the use of the Premises by any party other than Tenant.
Landlord shall be deemed to have reasonably withheld consent based on the
following considerations: (i) the financial strength of the proposed transferee;
(ii) the business reputation of the proposed transferee; (iii) whether the

                                      -17-

<PAGE>

use of the Premises by the proposed transferee will be consistent with the uses
of other tenants in the Building; (iv) whether the transfer will violate an
exclusive use granted to another tenant in the Building; (v) whether the
proposed transferee is an existing tenant for the Building; and (vi) whether the
proposed transferee is a prospective tenant for the Building. Any assignment,
transfer or subletting by Tenant which is consented to by Landlord shall not
relieve or release Tenant from any liability hereunder except as provided in
Section 25(b). In conjunction with a sale by Tenant of substantially all of its
assets, Tenant may assign this Lease to the entity or person purchasing such
assets provided such entity or person assumes each and every obligation of
Tenant hereunder and has a "Net Worth," as defined below, equal to or greater
than Tenant as of the date of such sale, and such assignment shall not be
subject to Landlord's approval (other than a review by Landlord of the
assignee's Net Worth) and shall not be subject to the recapture provisions set
forth below. In the event that Tenant is a corporation or entity other than an
individual, any sale of a majority or controlling interest in Tenant shall be
considered an assignment for purposes of this paragraph unless at the time of
such sale Tenant's securities are publicly traded or such sale is made in
conjunction with or as a result of a public offering of Tenant's securities, in
which case such sale shall not be considered an assignment for purposes of this
paragraph. Consent to one assignment or sublease shall not destroy or waive this
provision, and all later assignments and subleases shall likewise be made only
upon the prior written consent of Landlord. Subtenants or assignees shall become
liable to Landlord for all obligations of Tenant hereunder, without relieving
Tenant's liability hereunder and, in the event of any default by Tenant under
this Lease which causes Landlord to terminate this Lease, Landlord may, at its
option, but without any obligation to do so, elect to treat such sublease or
assignment as a direct Lease with Landlord. In addition, upon any request by
Tenant for Landlord's consent to an assignment or sublease, Landlord may elect,
within thirty (30) days after any request by Tenant for Landlord's consent to an
assignment or sublease, to terminate this Lease and recapture all of the
Premises (in the event of an assignment request) or the applicable portion of
the Premises (in the event of a subleasing request); provided, however, if
Landlord notifies Tenant that Landlord elects to exercise this recapture right,
Tenant may, within five (5) business days of its receipt of Landlord's notice,
notify Landlord that Tenant withdraws its request to sublease or assign, in
which case Tenant shall continue to lease all of the Premises, subject to the
terms of this Lease and Landlord's recapture notice shall be null and void.

     (b) Notwithstanding anything contained herein to the contrary, Tenant shall
be entitled to sublet any or all of the Premises pursuant to the terms of this
Lease or assign all of its rights, duties and obligations hereunder: (i) to a
subsidiary of Tenant so long as Tenant remains liable for each any every
obligation hereunder (and such subletting shall not be subject to Landlord's
recapture right referenced above); or (ii) subject to Landlord's reasonable
consent with respect to the items in Section 25(a)(ii) through (vi), above, to a
third party if: (A) the Net Worth of such subtenant/assignee is equal to or
greater than that of the Tenant as of the date hereof; and (B) the proposed
subtenant replaces the Cash Deposit plus the remaining amount of the "LOC," as
defined below, then required to be in place assuming the Landlord has not drawn
on it. Upon satisfaction of the preceding conditions, Tenant shall be released
from any future liability hereunder for that portion of the Premises sublet to
the subtenant or assigned. Net Worth shall be defined as financial assets
including bank accounts and certificates of deposit, marketable securities
traded on major exchanges, U.S. government and municipal bonds, and accounts
receivable minus unsecured debt and liabilities and debt secured in whole or in
part by financial assets as of the sublet date. In connection with (B), above,
in the event that Tenant shall sublet the Premises or assign this Lease to a
proposed subtenant/assignee that has a financial condition acceptable to
Landlord, in its sole discretion, on the date of such sublet or assignment, the
proposed subtenant/assignee shall not be obligated to replace the LOC then
required to be in place.

     (c) If Landlord consents to an assignment by Tenant of this Lease or any
interest hereunder, or consents to a sublet of the Premises or any part thereof,
or permits the use of the Premises by any party other than Tenant, or if the
Premises are otherwise sublet or assigned as permitted in this Section 25, all
consideration paid in respect of a sublet or assignment shall be retained by
Landlord, provided, however, that so long as Tenant is not in default hereunder,
in the event Landlord receives consideration ("Excess Consideration") in excess
of the amounts due to Landlord under this Lease over the remaining Term (as the

                                      -18-

<PAGE>

same may have been extended), Tenant shall be entitled to recover its "Marketing
Costs" to the extent of such Excess Consideration, as and when received by
Landlord. Marketing Costs shall be those customary and usual marketing expenses
and brokerage fees incurred by Tenant in obtaining a subtenant or assignee

     26. Default. If Tenant shall default in the payment of Rent herein reserved
         -------
when due and fails to cure such default within five (5) days after written
notice of such default is given to Tenant by Landlord; or if Tenant shall be in
default in performing any of the terms or provisions of this Lease other than
the provisions requiring the payment of Rent, and fails to cure such default
within thirty (30) days after written notice of such default is given to Tenant
by Landlord (or, if such default cannot be cured within thirty (30) days [other
than a default due to the failure to pay Rent or any other sum of money in which
case there shall be no additional cure time], Tenant shall not be in default if
Tenant promptly commences and diligently proceeds the cure to completion as soon
as possible and in all events within one hundred twenty (120) days); or if
Tenant is adjudicated a bankrupt; or in the event an assignment for the benefit
of creditors is made by Tenant; or if a permanent receiver is appointed for
Tenant's Property and such receiver is not removed within ninety (90) days after
written notice from Landlord to Tenant to obtain such removal; or if, whether
voluntarily or involuntarily, Tenant takes advantage of any debtor relief
proceedings under any present or future law, whereby the Rent, Additional Rent
or any part thereof, is, or is proposed to be, reduced or payment thereof
deferred; or if Tenant's effects should be levied upon or attached and such levy
or attachment is not satisfied or dissolved within thirty (30) days after
written notice from Landlord to Tenant to obtain satisfaction thereof; or
failure to comply within thirty (30) days after written notice from Landlord to
Tenant with any other term or provision contract or agreement between Landlord
and Tenant (or, if such default cannot be cured within thirty (30) days [other
than a default due to the failure to pay Rent or any other sum of money in which
case there shall be no additional cure time], Tenant shall not be in default if
Tenant promptly commences and diligently proceeds the cure to completion as soon
as possible and in all events cures any such default within one hundred twenty
(120) days after written notice from Landlord); or, if Tenant is an individual,
in the event of the death of the individual and the failure of the executor,
administrator or personal representative of the estate of the deceased
individual to have assigned the Lease within three (3) months after the death to
an assignee approved by Landlord; then, and in any of said events, Landlord, at
its option, may exercise any or all of the remedies set forth in Section 27
below.

     27. Remedies. Upon the occurrence of any default set forth in Section 26
         --------
above which is not cured by Tenant within the applicable cure period provided
therein, if any, Landlord may exercise all or any of the following remedies:

          (a) terminate this Lease by giving Tenant written notice of
termination, in which event this Lease shall terminate on the date specified in
such notice and all rights of Tenant under this Lease shall expire and terminate
as of such date, Tenant shall remain liable for all obligations under this Lease
up to the date of such termination and Tenant shall surrender the Premises to
Landlord on the date specified in such notice, and if Tenant fails to so
surrender, Landlord shall have the right, without notice, to enter upon and take
possession of the Premises and to expel and remove Tenant and its effects
without being liable for prosecution or any claim of damages therefor;

          (b) terminate this Lease as provided in the immediately preceding
subsection and recover from Tenant all damages Landlord may incur by reason of
Tenant's default, the then present value of the following: (i) the total Rent
which would have been payable hereunder by Tenant for the period beginning with
the day following the date of such termination and ending with the Expiration
Date of the term as originally scheduled hereunder, minus (ii) the aggregate
reasonable rental value of the Premises for the same period (as determined by a
real estate broker licensed in the State of Florida not affiliated with
Landlord, who has at least ten (10) years experience, immediately prior to the
date in question evaluating commercial office space, taking into account all
relevant factors including, without limitation, the length of the remaining
Term, the then current market conditions in the general area, the likelihood of
reletting for a period equal to

                                      -19-

<PAGE>

the remainder of the Term, net effective rates then being obtained by landlords
for similar type space in similar buildings in the general area, vacancy levels
in the general area, current levels of new construction in the general area and
how that would affect vacancy and rental rates during the period equal to the
remainder of the Term and inflation), plus (iii) the costs of recovering the
Premises, and all other expenses incurred by Landlord due to Tenant's default,
including, without limitation, reasonable attorneys' fees, plus (iv) the unpaid
Rent earned as of the date of termination, plus interest, all of which sum shall
be immediately due and payable by Tenant to Landlord;

          (c) without terminating this Lease, and without notice to Tenant,
Landlord may in its own name, but as agent for Tenant enter into and take
possession of the Premises and re-let the Premises, or a portion thereof, as
agent of Tenant, upon any terms and conditions as reasonably determined by
Landlord. Upon any such re-letting, all rentals received by Landlord from such
re-letting shall be applied first to the costs incurred by Landlord in
accomplishing any such re-letting, and thereafter shall be applied to the Rent
owed by Tenant to Landlord during the remainder of the term of this Lease and
Tenant shall pay any deficiency between the remaining Rent as and when due
hereunder and the amount received by such re-letting; and/or

          (d) pursue such other remedies as are available at law or in equity
other than intentionally allowing the Premises to remain unoccupied and collect
Rent from Tenant as it becomes due.

     28. Destruction or Damage.
         ---------------------

          (a) If the Building or the Premises are rendered totally untenantable
due to a service interruption off the Property ("Casualty Interruption") or are
totally destroyed by storm, fire, earthquake, or other casualty, or damaged to
the extent that, in Landlord's reasonable opinion the damage cannot be restored
within two hundred forty (240) days of the date the damage occurred, or if the
damage is not covered by standard "all risks" property insurance, or if the
Landlord's lender requires that the insurance proceeds be applied to its loan,
Landlord and Tenant shall each have the right to terminate this Lease effective
as of the date of such destruction or damage by written notice to the other on
or before sixty (60) days following the date of such damage and Rent and
Additional Rent shall cease as of the date of such casualty. Landlord shall
provide Tenant with notice within forty five (45) days following the date of the
damage of the estimated time needed to restore, whether the loss is covered by
Landlord's insurance coverage and whether or not Landlord's lender requires the
insurance proceeds be applied to its loan.

          (b) If the Premises are damaged by any such casualty or casualties but
neither Landlord nor Tenant is entitled to or does not terminate this Lease as
provided in subparagraph (a) above, this Lease shall remain in full force and
effect. Landlord shall notify Tenant in writing within forty five (45) days of
the date of the damage that the damage will be restored (and will include
Landlord's good faith estimate of the date the restoration will be complete), in
which case Rent and Additional Rent shall abate as to any portion of the
Premises which is not usable, and Landlord shall restore the Premises to
substantially the same condition as before the damage occurred, whereupon full
Rent and Additional Rent shall recommence.

          (c) In connection with any restoration under this Section 28, subject
to the other provisions of this Lease, including force majeure, Landlord shall
complete restoration of the Premises within three hundred sixty (360) days from
commencement of such restoration. In the event Landlord does not complete
restoration of the Premises (or if the Casualty Interruption is not cured)
within three hundred sixty (360) days from commencement of such restoration,
Tenant shall be entitled to terminate this Lease provided Tenant provides
written notification to Landlord of Tenant's intent to terminate this Lease
within thirty (30) days after expiration of such three hundred sixty (360) day
period. In the event Tenant does not notify Landlord of Tenant's intent to
terminate this Lease within such thirty (30) day period, time being of the
essence, Tenant's right to terminate this Lease shall terminate and be null and
void.

                                      -20-

<PAGE>

     29. Eminent Domain. If the whole of the Building or Premises, or such
         --------------
portion thereof as will make the Building or Premises totally unusable in the
reasonable judgment of Landlord or Tenant for its intended purposes, is
condemned or taken by any legally constituted authority for any public use or
purpose, then in either of said events, each of Landlord and Tenant may
terminate this Lease by written notice to the other and the Term hereby granted
shall cease from that time when possession thereof is taken by the condemning
authorities, and Rent shall cease as of that date. If a portion of the Building
or Premises is so taken, but not such amount as will make the Premises unusable
in the reasonable judgment of Landlord for the purposes herein leased, or if
Landlord elects not to terminate this Lease, this Lease shall continue in full
force and effect and the Rent shall be reduced prorata in proportion to the
amount of the Premises so taken. The remaining Premises must be reasonably
sufficient to enable Tenant to operate its business in substantially the same
manner as prior to the condemnation or taking. Tenant shall have no right or
claim to any part of any award made to or received by Landlord for such
condemnation or taking, and all awards for such condemnation or taking shall be
made solely to Landlord. Tenant shall, however, have the right to pursue any
separate award that does not reduce the award to which Landlord is entitled.

     30. Service of Notice. Deleted.
         -----------------

     31. Mortgagee's Rights.
         ------------------

          (a) Tenant agrees that this Lease shall be subject and subordinate (i)
to any mortgage, deed to secure debt or other security interest now encumbering
the Property and to all advances which may be hereafter made, to the full extent
of all debts and charges secured thereby and to all renewals or extensions of
any part thereof, and to any mortgage, deed to secure debt or other security
interest which any owner of the Property may hereafter, at any time, elect to
place on the Property; (ii) to any assignment of Landlord's interest in the
leases and rents from the Building or Property which includes the Lease which
now exists or which any owner of the Property may hereafter, at any time, elect
to place on the Property; and (iii) to any Uniform Commercial Code Financing
Statement covering the personal property rights of Landlord or any owner of the
Property which now exists or any owner of the Property may hereafter, at any
time, elect to place on the foregoing personal property (all of the foregoing
instruments set forth in (i), (ii) and (iii) above being hereafter collectively
referred to as "Security Documents"). Tenant agrees within fifteen (15) days
after request of the holder of any Security Documents ("Holder") to hereafter
execute any documents which the counsel for Landlord or Holder may deem
reasonably necessary to evidence the subordination of the Lease to the Security
Documents. If Tenant fails to execute any such requested documents, Landlord or
Holder is hereby empowered to execute such documents in the name of Tenant
evidencing such subordination, as the act and deed of Tenant, and this authority
is hereby declared to be coupled with an interest and not revocable.

          (b) In the event of a foreclosure pursuant to any Security Documents,
Tenant shall at the election of the Landlord, thereafter remain bound pursuant
to the terms of this Lease as if a new and identical Lease between the purchaser
at such foreclosure ("Purchaser"), as landlord, and Tenant, as tenant, had been
entered into for the remainder of the Term hereof and Tenant shall attorn to the
Purchaser upon such foreclosure sale and shall recognize such Purchaser as the
Landlord under the Lease. Such attornment shall be effective and self-operative
without the execution of any further instrument on the part of any of the
parties hereto. Tenant agrees, however, to execute and deliver at any time and
from time to time, upon the request of Landlord or of Holder, any instrument or
certificate that may be reasonably necessary or appropriate in any such
foreclosure proceeding or otherwise to evidence such attornment.

          (c) If the Holder of any Security Document or the purchaser upon the
foreclosure of any of the Security Documents shall succeed to the interest of
Landlord under the Lease, such Holder or Purchaser shall have the same remedies,
by entry, action or otherwise for the non-performance of any agreement contained
in the Lease, for the recovery of Rent, Additional Rent or for any other default
or event of default hereunder that Landlord had or would have had if any such
Holder or Purchaser had not succeeded

                                      -21-

<PAGE>

to the interest of Landlord. Any such Holder or Purchaser which succeeds to the
interest of Landlord hereunder, shall not be (a) liable for any act or omission
of any prior Landlord (including Landlord); or (b) subject to any offsets or
defenses which Tenant might have against any prior Landlord (including
Landlord). Nothing herein shall relieve Holder from any obligations under this
Lease, to the extent such obligations arise between the time it succeeds to the
interest of the landlord through the time it transfers its interest to another
party.

          (d) Tenant hereby acknowledges that if the interest of Landlord
hereunder is covered by an assignment of Landlord's interest in Lease, Tenant
shall pay all Rent due and payable under the Lease directly to the Holder of the
assignment of Landlord's interest in Lease upon written notification of the
exercise of the rights thereunder by the Holder thereof.

          (e) Notwithstanding anything to the contrary set forth in this Section
31, the Holder of any security Documents shall have the right, at any time, to
elect to make this Lease superior and prior to its Security Document. No
documentation, other than written notice to Tenant, shall be required to
evidence that the Lease has been made superior and prior to such Security
Documents, but Tenant hereby agrees to execute any documents ("Subordination
Agreement") reasonably requested by Landlord or Holder to acknowledge that the
Lease has been made superior and prior to the Security Documents. In addition,
Tenant's subordination to the interest of a Holder of the Security Documents as
provided in subparagraph (a) above, and Tenant's agreement to attorn as provided
in subparagraph (b) above, are expressly conditioned upon Landlord's providing
Tenant a nondisturbance agreement from the Holder of such Security Documents
substantially in the form attached hereto as Exhibit "E". Landlord represents
                                             -----------
that the only existing Holder of the Security Documents as the date of execution
of this Lease is NationsBank. Upon Tenant's request], Landlord agrees to obtain
such a nondisturbance agreement from NationsBank, and from any other Holder, and
to deliver such nondisturbance agreements to Tenant.

     32.  Estoppels
          ---------

          (a) Tenant's Estoppel. From time to time, upon not less than ten (10)
              -----------------
days prior written request by Landlord, Tenant shall execute, acknowledge and
deliver to Landlord a written statement certifying that this Lease is unmodified
and in full force and effect (or, if there have been modifications, that the
same is in full force and effect as modified and stating the modifications), the
dates to which the Rent has been paid, that to Tenant's knowledge, Tenant is not
in default hereunder and has no offsets or defenses against Landlord under this
Lease, and whether or not to the best of Tenant's knowledge Landlord is in
default hereunder (and if so, specifying the nature of the default), it being
intended that any such statement delivered pursuant to this paragraph may be
relied upon by a prospective purchaser of Landlord's interest or by a mortgagee
of Landlord's interest or assignee of any security deed upon Landlord's interest
in the Premises.

          (b) Landlord's Estoppel. Landlord shall, from time to time, upon not
              -------------------
less than ten (10) days prior written request by Tenant, execute, acknowledge
and deliver to Tenant a written statement certifying that this Lease is
unmodified and in full force and effect (or, if there have been modifications,
that the same is in full force and effect as modified and stating the
modifications), the dates to which the Rent has been paid, that to Landlord's
knowledge, whether or not Landlord is in default hereunder, and to Landlord's
knowledge, whether or not it has any offsets or defenses against Tenant under
this Lease, and whether or not to Landlord's knowledge Tenant is in default
hereunder (and if so, specifying the nature of the default). If Landlord fails
to deliver such statement or objections thereto within such ten (10) day period,
the statement delivered by Tenant shall conclusively be deemed to be correct and
accurate.

     33. Attorney's Fees. In connection with any proceeding hereunder, the
         ---------------
prevailing party shall be entitled to recover, on demand, all costs, expenses
and fees, including reasonable attorneys' and paralegal fees through all trial
and appellate levels and court costs, incurred in connection therewith.

                                      -22-

<PAGE>

     34. Parking. No rights to specific parking spaces are granted under this
         -------
Lease; however, subject to Landlord's rights pursuant to the last sentence of
this Section 34, Tenant shall be entitled to use up to five (5) spaces per each
1,000 rentable square feet of space in the Premises (136 total spaces) in the
parking facilities located on the Property. All parking spaces provided to
Tenant shall be unreserved and are to be used by Tenant, its employees and
invitees in common with the other tenants of the Building and their employees
and invitees. Landlord reserves the right to build improvements upon, reduce the
size of, relocate, reconfigure, eliminate, and/or make alterations or additions
to such parking facilities at any time and Landlord may also grant such
easements for ingress and egress through designated portions of the parking
areas within the Property, for the benefit of any other buildings in the
Project, as Landlord, in its sole discretion, deems necessary or desirable, so
long as Tenant's access and proximity to the parking facilities is not
materially and adversely affected for an unreasonable period of time. The use of
the parking spaces is provided by Landlord to Tenant without additional charge.

     35. Storage. If Landlord makes available to Tenant any storage space
         -------
outside the Premises, anything stored therein shall be wholly at the risk of
Tenant, and Landlord shall have no responsibility or liability for the items
stored therein.

     36. Waste Disposal.
         --------------

          (a) All normal trash and waste (i.e., waste that does not require
special handling pursuant to subparagraph (b) below) shall be disposed of
through the janitorial service.

          (b) Tenant shall be responsible for the removal and disposal of any
waste in the Premises or elsewhere caused by Tenant, its employees, agents or
invitees, deemed by any governmental authority having jurisdiction over the
matter to be hazardous or infectious waste or waste requiring special handling,
such removal and disposal to be in accordance with any and all applicable
Governmental Requirements. Tenant agrees to separate and mark appropriately all
waste to be removed and disposed of through the janitorial service pursuant to
(a) above and hazardous, infectious or special waste to be removed and disposed
of by Tenant pursuant to this subparagraph (b). Tenant hereby indemnifies and
holds harmless Landlord from and against any loss, claims, demands, damage or
injury Landlord may suffer or sustain as a result of Tenant's failure to comply
with the provisions of this subparagraph (b).

     37. Surrender of Premises. Whenever under the terms hereof Landlord is
         ---------------------
entitled to possession of the Premises, Tenant at once shall surrender the
Premises and the keys thereto to Landlord in the same condition as on the
Commencement Date hereof, natural wear and tear only excepted, and Tenant shall,
if required pursuant to Section 12 hereof, remove all of its personalty
therefrom. Landlord may forthwith re-enter the Premises and repossess itself
thereof and remove all persons and effects therefrom, using such force as may be
necessary without being guilty of forcible entry, detainer, trespass or other
tort. Tenant's obligation to observe or perform these covenants shall survive
the expiration or other termination of the Term of this Lease. If the last day
of the Term of this Lease or any renewal falls on Sunday or a legal holiday,
this Lease shall expire on the business day immediately preceding.

     38. Cleaning Premises. Upon vacating the Premises, Tenant agrees to return
         -----------------
the Premises to Landlord broom clean and in the same condition when Tenant's
possession commenced, natural wear and tear, damage caused by casualty and
condemnation excepted, regardless of whether any Security Deposit (as defined in
Section 44 below) has been forfeited.

     39. No Estate In Land. Deleted.
         -----------------

     40. Cumulative Rights. All rights, powers and privileges conferred
         -----------------
hereunder upon the parties hereto shall be cumulative but not restrictive to
those given by law.

                                      -23-

<PAGE>

     41. Paragraph Titles; Severability. The paragraph titles used herein are
         ------------------------------
not to be considered a substantive part of this Lease, but merely descriptive
aids to identify the paragraph to which they refer. Use of the masculine gender
includes the feminine and neuter, and vice versa, where necessary to impart
contextual continuity. If any paragraph or provision herein is held invalid by a
court of competent jurisdiction, all other paragraphs or severable provisions of
this Lease shall not be affected thereby, but shall remain in full force and
effect.

     42. Damage or Theft of Personal Property. All personal property brought
         ------------------------------------
into the Premises shall be at the risk of the Tenant only and Landlord shall not
be liable for theft thereof or any damage thereto occasioned by any acts of
co-tenants, or other occupants of the Building, or any other person, except,
with respect to damage to the Premises, as may be occasioned by the negligent or
willful act of the Landlord, its employees and agents.

     43. Holding Over. In the event Tenant remains in possession of the Premises
         ------------
after the expiration of the Term hereof, or of any renewal term, with Landlord's
written consent, Tenant shall be a tenant at will and such tenancy shall be
subject to all the provisions hereof, except that the monthly rental for the
first month of any such holdover by Tenant shall be 150% of the monthly Base
Rent payable hereunder upon expiration of the Term hereof, or of any renewal
term, and 200% of the monthly Base Rent payable hereunder upon expiration of the
Term hereof, or of any renewal term, for each successive month thereafter. In
the event Tenant remains in possession of the Premises after the expiration of
the Term hereof, or any renewal term, without Landlord's written consent, Tenant
shall be a tenant at sufferance and may be evicted by Landlord without any
notice, but Tenant shall be obligated to pay rent for such period that Tenant
holds over without written consent at the same rate provided in the previous
sentence and shall also be liable for any and all other damages Landlord suffers
as a result of such holdover including, without limitation, the loss of a
prospective tenant for such space. There shall be no renewal of this Lease by
operation of law or otherwise. Nothing in this Section shall be construed as a
consent by Landlord for any holding over by Tenant after the expiration of the
Term hereof, or any renewal term.

     44. Security Deposit. Tenant shall pay Landlord the sum of Forty-Nine
         ----------------
Thousand Six Hundred Six Dollars (49,606.00) (the "Cash Deposit") as evidence of
good faith on the part of Tenant in the fulfillment of the terms of this Lease,
which shall be held by the Landlord during the Term of this Lease, or any
renewal thereof. Under no circumstances will Tenant be entitled to any interest
on the Security Deposit. In addition, Tenant, concurrently with the execution of
this Lease, shall also provide to Landlord, a additional security, a letter of
credit (the "LOC") in the face amount of               Dollars (     ) from a
                                         -------------          -----
financial institution located in Miami-Dade or Broward County, Florida, and in
form and substance reasonably satisfactory to Landlord. (The Cash Deposit and
the LOC are hereinafter collectively referred to as "Security Deposit"). The LOC
shall be for a term of five and one-half (5 1/2) years from the Commencement
Date, and subject to the provisions of this Section 44 and provided Tenant is
not in default hereunder beyond any applicable cure periods, the LOC shall be
reduced by            Dollars (       ) on the eighteenth (18th) month after
           ----------          -------
the Commencement Date and by              Dollars (         ) on eac h twelfth
                             ------------          ---------
(12th) month thereafter. The Security Deposit may be used by Landlord (and the
Landlord may draw on the LOC), at its discretion, to apply to any amount owing
to Landlord hereunder, that is not paid prior to the expiration of any
applicable cure or grace periods, or to pay the expenses of repairing any damage
to the Premises, except natural wear and tear occurring from normal use of the
Premises or damage due to casualty (not caused by Tenant or Tenant's Permitees)
or condemnation, which exists on the day Tenant vacates the Premises, but this
right shall not be construed to limit Landlord's right to recover additional
sums from Tenant for damages to the Premises. In addition to any other rights
available to Landlord hereunder, the Security Deposit (including the LOC) may be
used by Landlord, at its discretion, if this Lease should for any reason
whatsoever be terminated due to Tenant's default prior to the normal Expiration
Date of the original term, or of any renewal thereof. If there are no payments
to be made from the Security Deposit

                                      -24-

<PAGE>

as set out in this paragraph, or if there is any balance of the Security Deposit
remaining after all payments have been made, the Security Deposit, or such
balance thereof remaining, will be refunded to the Tenant within thirty (30)
days after fulfillment by Tenant of all obligations hereunder. In no event shall
Tenant be entitled to apply the Security Deposit to any Rent due hereunder. In
the event of an act of bankruptcy by or insolvency of Tenant, or the appointment
of a receiver for Tenant or a general assignment for the benefit of Tenant's
creditors, then the Security Deposit shall be deemed immediately assigned to
Landlord. The right to retain the Security Deposit (and draw on the LOC) shall
be in addition and not alternative to Landlord's other remedies under this Lease
or as may be provided by law and shall not be affected by summary proceedings or
other proceedings to recover possession of the Premises. Upon sale or conveyance
of the Building, Landlord will transfer or assign the Security Deposit
(Including the balance of the LOC, if any) to any new owner of the Premises,
such new owner of the Premises will assume Landlord's obligations for the
Security Deposit and upon such transfer and assumption all liability of Landlord
for the Security Deposit shall terminate. Landlord shall be entitled to
commingle the Security Deposit with its other funds.

     45. Building Allowance and Tenant's Plans. On or before February 26, 1999,
         -------------------------------------
Tenant shall submit to landlord its space plans ("Space Plans") for the
improvements ("Tenant improvements") which shall comply with all Governmental
Ordinances, including the Americans with Disabilities Act. Landlord shall
approve or reject the Space Plans in writing, within five (5) business days of
Landlord's receipt thereof, with Landlord's approval not to be unreasonably
withheld, delayed or conditioned.

          (a) (i) If Landlord fails to respond in writing within five (5)
business days of Tenant's initial delivery of Space Plans, and after delivery of
the notice required hereunder, Space Plans shall be deemed approved. If Landlord
rejects all or any portion of Space Plans, Landlord shall outline with
reasonable specificity, Its objections, and Tenant shall modify or amend Space
Plans accordingly. Any and all amendments and modifications to Space Plans shall
be submitted to Landlord for approval, and shall be approved or rejected by
Landlord, in the same manner as the initial delivery thereof.

               (ii) Landlord shall submit to Tenant final plans and
specifications (Tenant's Plans") for the Tenant improvements. Tenant shall
approve or reject the Tenant's Plans in writing, within five (5) business days
of Tenant's receipt thereof, with Tenant's approval not to be unreasonably
withheld, delayed or conditioned. If Tenant fails to respond in writing within
five business (5) days of Landlord's delivery of Tenant's Plans, the Tenant's
Plans shall be deemed approved. If Tenant rejects all or any portion of Tenant's
Plans, Tenants shall outline with reasonable specificity, its objections, and
Landlord shall modify or amend Tenant Plans accordingly, Any and all amendments
and modifications to Tenant's Plans shall be submitted to Tenant for approval,
and shall be approved or rejected by Tenant within three (3) business days of
submission. Tenant hereby appoints Alexander Tellez as the authorized
representative of Tenant for purposes of dealing with Landlord with respect to
all matters involving, directly or indirectly, the Space Plans and the Tenant's
Plans.

               (iii) In connection with the preparation of the Space Plans,
Landlord agrees to reimburse Tenant up to Fifteen Cents ($0.15) per rentable
square foot (27,058 rentable square feet) or a total of Four Thousand Fifty
Eight and 70/00 Dollars ($4,058.70). Landlord shall have the right to require
paid Invoices and such evidence of payment as may be reasonably required by
Landlord. In connection with the preparation of Tenant's Plans, upon receipt of
a building permit for the Tenant improvements, Tenant agrees to reimburse
Landlord for architectural and engineering fees incurred by Landlord in excess
of One Dollar and 60/00 ($1.60) per rentable square foot (27,058 rentable square
feet) or a total of Forty Three Thousand Two Hundred Ninety Two and 80/00
Dollars ($43,292.80). Tenant shall have the right to require paid invoices and
such evidence of payment as may be reasonably required by Tenant.

                                      -25-

<PAGE>

          (b) All Tenant Improvements shall be made in accordance with Tenant's
Plans. Provided that Tenant is not in default of this Lease, Landlord shall
provide Tenant with an improvement allowance of Eighteen Dollars ($18.00) per
usable square foot or a total of Four Hundred Eighty Seven Thousand Forty Four
and 00/100 Dollars ($487,044.00) (the "TI Allowance"), and Landlord shall
complete at its cost the "Base Building Improvements," as outlined on Exhibit
                                                                      -------
"F" attached hereto. Tenant agrees to reimburse Landlord for all costs, expenses
---
and fees ("Excess TI Costs") to complete the Tenant Improvements in excess of
the TI Allowance as follows:

               (1) twenty-five percent (25%) of said Excess TI Costs will be
paid to Landlord upon completion of thirty percent (30%) of the Tenant
Improvements within thirty (30) days following submission of proof of completion
of such portion of the work.

               (2) twenty-five percent (25%) of said Excess TI Costs will be
paid to Landlord upon completion of sixty percent (60%) of the Tenant
Improvements within thirty (30) days following submission of proof of completion
of such portion of the work

               (3) thirty percent (30%) of said Excess TI Costs will be paid to
Landlord upon completion of ninety percent (90%) of the Tenant Improvements
within thirty (30) days following submission of proof of completion of the work.

               (4) The remaining twenty percent (20%) shall be paid within two
(2) business days after completion of the Tenant Improvements and delivery of an
unconditional, permanent Certificate of Occupancy but in all events prior to
occupancy of the Premises by Tenant.

          (c) Tenant and its contractors will be permitted by Landlord to enter
the Premises two (2) weeks prior to the estimated completion date of the Tenant
Improvements, in Landlord's reasonable determination, for the purpose of
installing its fixtures and other equipment, provided (x) Tenant shall have
obtained Landlord's approval of the plans for such work; and (y) Tenant shall
have deposited with Landlord the policies or certificates of insurance required
in Section 22 of the lease Agreement. Between the Effective Date and the
Commencement Date, the Tenant shall perform all duties and obligations required
by this Lease, including, without limitation, those provisions relating to
insurance and indemnification, saving and excepting only the obligation to pay
Base Rent and Additional Rent or any other event beyond Landlord's or Tenant's
control, which obligations shall commence as provided in Section 4.

          (d) In accordance with the applicable provisions of the Florida
Construction Lien Law and specifically Florida Statutes Section 713.10, no work
performed by Tenant pursuant to this lease Agreement, whether in the nature of
erection, construction, alteration or repair, shall be deemed to be for the
immediate use and benefit of Landlord so that no mechanic's or other lien shall
be allowed against the Building or the estate of Landlord created hereunder by
reason of any consent given by Landlord to Tenant to improve the Premises.
Tenant agrees to advise any contractor, materialman or subcontractor performing
work on behalf of Tenant of this provision exculpating Landlord from liability
for such liens. In the event any mechanic's or other lien shall at any time be
filed against the Premises by reason of work, labor, services, or materials
performed or furnished, or alleged to have been performed or furnished, to
Tenant or to anyone holding the Premises through or under Tenant, Tenant shall
forthwith cause the same to be discharged of record or bonded to the
satisfaction of Landlord. If Tenant shall fail to cause such lien forthwith to
be so discharged or bonded within thirty (30) days after written notice from
Landlord of the filing thereof, then, in addition to any other right or remedy
of Landlord, Landlord may bond or discharge the same by paying the amount
claimed to be due, and the amount so paid by Landlord including reasonable
attorneys' fees incurred by Landlord either defending against such lien or in
the procuring the discharge of such lien, together with interest thereon at the
Default Rate, shall be due and payable by Tenant to Landlord as Additional Rent.

                                      -26-

<PAGE>

     46. Rules and Regulations. The rules and regulations in regard to the
         ---------------------
Building, annexed hereto, and all reasonable rules and regulations which
Landlord may hereafter, from time to time, adopt and promulgate for the
government and management of said Building, are hereby made a part of this Lease
and shall, during the said term, be observed and performed by Tenant, its
agents, employees and invitees. Notwithstanding any provision to the contrary
provided in this Lease, any additions or modifications to the rules and
regulations by Landlord shall be consistent with first-class office buildings in
the A/WD Submarket and uniformly enforced against all tenants of said Building.

     47. Quiet Enjoyment. Tenant, upon payment in full of the required Rent and
         ---------------
full performance of the terms, conditions, covenants and agreements contained in
this Lease, shall peaceably and quietly have, hold and enjoy the Premises during
the term hereof. Landlord shall not be responsible for the acts or omissions of
any other tenant, Tenant or third party that may interfere with Tenant's use and
enjoyment of the Premises.

     48. Entire Agreement. This Lease contains the entire agreement of the
         ----------------
parties and no representations, inducements, promises or agreements, oral or
otherwise, between the parties not embodied herein shall be of any force or
effect.

     49. Limitation of Liability. In the event of a sale of the Building, or an
         -----------------------
assignment of this Lease, a demise of the Building and/or the land, or other
transfer of the Lease, the Building and/or the Project, Landlord shall be and
hereby is entirely freed and relieved of all further obligations hereunder. It
is specifically understood and agreed that there shall be no personal and or
entity liability on behalf Landlord, or any of Landlord's partners, officers,
directors, shareholders, members or representatives with respect to any of the
covenants, conditions, or provisions of this Lease. In the event of a breach or
default by Landlord of any of its obligations under this Lease, Tenant shall
look solely to the equity of Landlord in the Building and the Property for the
satisfaction of Tenant's remedies, except in the case of any liability for the
return of the Security Deposit as required pursuant to this Lease which shall
not be limited to the equity of the Landlord in the Building and the Property.

     50. Submission of Agreement. Submission of this Lease to Tenant for
         -----------------------
signature does not constitute a reservation of space or an option to acquire a
right of entry. This Lease is not binding or effective until execution by and
delivery to both Landlord and Tenant (the "Effective Date").

     51. Authority. If Tenant executes this Lease as a corporation, limited
         ---------
partnership, limited liability company or any other type of entity, each of the
persons executing this Lease on behalf of Tenant does hereby personally
represent and warrant that Tenant is a duly organized and validly existing
corporation, that Tenant is qualified to do business in the State of Florida,
that Tenant has full right, power and authority to enter into this Lease, and
that each person signing on behalf of Tenant is authorized to do so. In the
event any such representation and warranty is false, all persons who execute
this Lease shall be individually, jointly and severally, liable as Tenant. Upon
Landlord's request, Tenant shall provide Landlord with evidence reasonably
satisfactory to Landlord confirming the foregoing representations and
warranties. Landlord hereby warrants and represents to Tenant that Landlord is a
corporation duly organized, validly existing and qualified to do business in the
State of Florida. Further, Landlord has full right, power and authority to enter
into this Lease, and that each person signing on behalf of Landlord is
authorized to do so. Upon Tenant's request, Landlord shall provide Tenant with
evidence reasonably satisfactory to Tenant confirming the foregoing
representations and warranties.

     52. Relocation. Deleted.
         ----------

     53. Broker Disclosure. Codina Realty Services, Inc. - Oncor International,
         -----------------
a real estate broker licensed in the State of Florida, has acted as agent for
Landlord in this transaction and is to be paid

                                      -27-

<PAGE>

a commission by Landlord pursuant to a separate agreement. Cushman & Wakefield
of Florida, Inc., a real estate broker licensed in the State of Florida, has
acted as agent for Tenant in this transaction and is to be paid a commission by
Landlord pursuant to a separate agreement. Landlord represents that it has dealt
with no other broker other than the broker(s) identified herein. Landlord agrees
that, if any other broker makes a claim for a commission based upon the actions
of Landlord, Landlord shall indemnify, defend and hold Tenant harmless from any
such claim. Tenant represents that it has dealt with no broker other than the
broker(s) identified herein. Tenant agrees that, if any other broker makes a
claim for a commission based upon the actions of Tenant, Tenant shall indemnify,
defend and hold Landlord harmless from any such claim.

     54. Notices. Any notice which is required or permitted to be given by
         -------
either party under this Lease shall be in writing and must be given only by
certified mail, return receipt requested, by hand delivery to the President,
Vice President, Secretary, or Treasurer, or by nationally recognized overnight
courier service at the addresses set forth below. Any such notice shall be
deemed given two (2) days after deposit for delivery in the case of delivery by
certified mail and upon receipt if delivered in accordance with the other
permitted methods described above. The time period for responding to any such
notice shall begin on the date the notice is deemed given as provided
hereinabove, but refusal to accept delivery or inability to accomplish delivery
because the party can no longer be found at the then current notice address,
shall be deemed receipt. Either party may change its notice address by notice to
the other party in accordance with the terms of this Section 54. The following
are the initial notice addresses for each party:

Landlord's Notice Address:               CODINA WEST DADE DEVELOPMENT
                                         CORP., NO.4
                                         c/o Codina Real Estate Management, Inc.
                                         8323 N.W. 12th  Street, Suite 115
                                         Miami, Florida 33128

                                         With a copy to:

                                         BERMAN WOLFE & RENNERT, P.A.
                                         100 Southeast Second Street, Suite 3500
                                         Miami, Florida 33131-2130
                                         Attn: Leon J. Wolfe, Esq.

Tenant's Notice Address:                 CELLIT, INC.
                                         Westside Plaza II
                                         8300 N.W. 33(rd) Street, Suite 200
                                         Miami, Florida 33166

                                         With a copy to:

                                         KIRKPATRICK & LOCKHART, LLP
                                         201 S, Biscayne Boulevard, 20th Floor
                                         Miami, Florida 33131
                                         Attn: Laura A. Gangemi, Esq.

     55. Force Majeure. In the event of a strike, lockout, labor trouble, civil
         -------------
commotion, an act of God, or any other event beyond Landlord's or Tenant's
control (a "force majeure event") which results in the Landlord or Tenant being
unable to timely perform its obligations under this Lease, so long as Landlord
or Tenant, as applicable, diligently proceeds to perform such obligations after
the end of the force majeure event, Landlord or Tenant, as applicable, shall not
be in breach hereunder, this Lease shall not terminate, and Tenant's obligation
to pay any Base Rent, Additional Rent, or any other charges and sums due and
payable

                                      -28-

<PAGE>

shall not be excused. In addition, under no circumstances shall any financial
difficulty or hardship or inability to pay by any party be deemed to be a force
majeure event.

     56. Special Stipulations. The Special Stipulations, if conflicting, if any,
         --------------------
are modifications to the terms of this Lease and such Special Stipulation shall
control in the event of any conflict with the other provisions of this Lease or
any exhibits hereto.

     57. Recapture Fee.
         -------------

          (a)In the event Tenant does not exercise its option to renew the Lease
for the Option Term in accordance with Section 2(b) hereof, Tenant shall be
obligated to pay to Landlord in good and collectible funds the following amounts
("Recapture Fee") nine (9) months prior to expiration of the initial Term in the
event Tenant does not renew the Lease as provided herein: (i) $62,331.58
representing the unamortized portion of the Tenant Improvements and the
brokerage commission; plus (ii) $103,158.63 representing a rental payment equal
to three (3) months of Base Rent as if such payments of Base Rent would have
been due and payable for each month after expiration of the initial Term.

     58. Right of First Offer. During the initial eighteen (18) months of this
         --------------------
Lease and so long as Tenant is not then in default under this Lease that remains
uncured beyond any applicable cure or notice period, at such time as Landlord
notifies Tenant, in writing, of the availability of the third (3(rd)) floor of
the Building, Tenant shall have five (5) business days after Tenant's receipt of
Landlord's notice, within which to notify Landlord ("Tenant's Notice") of
Tenant's desire to lease the third (3(rd)) floor in its entirety for a term
equal to the then remaining initial Term. Within five (5) business days after
delivery of the Tenant's Notice, Landlord and Tenant will execute an amendment
to this Lease, for the third (3(rd)) floor of the Building, including the
Premises, which amendment shall provide that the third (3(rd)) floor shall be
subject to all the same terms and conditions as this Lease, except that there
shall be no rental abatements. If Tenant does not deliver Tenant's Notice within
the period provided herein, then this right of first offer will lapse and be of
no further force and effect and Landlord will have the right to lease the third
(3(rd)) floor, or any part thereof, to any third party, under any terms and
conditions, whether or not such terms and conditions are more or less favorable
than those offered to Tenant. This right of first offer to lease the third
(3(rd)) floor is personal to Cellit, Inc., and is not transferable.

     59. Right to Setoff. If Landlord fails to pay when due Relocation Expenses,
         ---------------
the TI Allowance or, if Tenant's share of Operating Expenses was overstated by
more than five (5%) percent, the cost of an audit performed by Tenant, and such
failure continues for more than fifteen (15) days after the date by which
reimbursement is required under this Lease, Tenant shall have the right to
credit any such unpaid amount (plus interest at the Default Rate commencing with
the sixteenth (16th) day after the aforementioned fifteen (15) day period)
against the Rent until such unpaid amount has been fully credited.

     60. Waiver of Landlord's Lien.Landlord waives all common law lien rights,
         -------------------------
if any, and all statutory lien rights that Landlord may have pursuant to Florida
Statutes Chapter 83, with respect to all property now or hereafter placed in or
upon the Premises by Tenant.

                                      -29-

<PAGE>

     IN WITNESS WHEREOF, the parties herein have hereunto set their hands and
seats, the day and year first above written

WITNESSES TO LANDLORD:                       LANDLORD:

                                             CODINA WEST DADE DEVELOPMENT CORP.,
/s/  H J Rodstein                            NO. 4, a Florida corporation
----------------------------
Print Name: H J Rodstein
           -----------------

                                             By:/s/ O. Ford Gibson
                                                --------------------------------
/s/ Carmen C Castillo                        Print Name: O. Ford Gibson
----------------------------                             -----------------------
Print Name: Carmen C Castillo                Title:
           -----------------                       -----------------------------

WITNESSES TO TENANT:                         TENANT:

                                             CELLIT, INC., a Florida corporation

/s/ illegible
---------------------------
Print Name: illegible
           -----------------

                                             By:/s/ Alexander Tellez
                                                --------------------------------
/s/ Diana Parker                             Print Name:Alexander Tellez
----------------------------                            ------------------------
Print Name: Diana Parker                      Title: President & CEO
           -----------------                        ----------------------------

                                      -30-

<PAGE>

                                   EXHIBIT "A"
                                   -----------

                                    PROPERTY

A portion of Tracts 33 and 34 of FLORIDA FRUIT LANDS COMPANY'S SUBDIVISION NO.1,
in the Southwest 1/4 Section of 27, Township 53 South, Range 40 East, according
to the Plat thereof, as recorded in Plat Book 2, at Page 17, of the Public
Records of Dade County, Florida, being more particularly described as follows:

BEGIN at the Southeast corner of Tract "A", of RYDER CHILD CARE CENTER,
according to the plat thereof, as recorded in Plat Book 145, at Page 65, of the
Public Records of Dade County, Florida; thence North 01 DEG. 42'47" West along
the East line of said Tract "A" for 276.61 feet; thence run East for 196.65
feet; thence run North for 336.93 feet to a point of intersection with the South
Right-of-Way line of N.W. 33(rd) Street, as shown on the recorded Plat of
CORPORATE OFFICE PARK PHASE I, according to the plat thereof, as recorded in
Plat Book 135, at Page 9, of the Public Records of Dade County, Florida, said
point also being on the arc of a circular curve concave to the Northeast, which
radius point bears South 05 DEG. 36' 11" West; the following two (2) courses
along said South Right-of-Way Line of N. W. 33(rd) Street; 1) thence Easterly
along the arc of said circular curve, concave to the Northeast, having a radius
of 1050.00 feet and a central angle of 05 DEG.35' 09", for an arc distance of
102.37 feet to a point of tangency; 2) thence South 89 DEG. 58' 57" East for
251.24 feet; thence South 00 DEG.03' 58" East for 283.52 feet; thence North 89
DEG. 58' 02" East for 64.95 feet: thence South 00 DEG.03' 58" East for 322.65
feet to a point on the South line said Tract 34; thence South 89 DEG. 56' 02"
West along the South line of said Tract 34 for 623.93 feet to the POINT OF
BEGINNING.

<PAGE>

                                  EXHIBIT "A-1"

                                Westside Plaza II
                                    2nd Floor

                                    [GRAPHIC]

<PAGE>

                                   EXHIBIT "B"
                                   -----------

                                  (WORK LETTER)

     To induce Tenant to enter into the Lease (to which this Exhibit B is
attached) and in consideration of the mutual covenants hereinafter contained,
Landlord and Tenant agree as follows:

     1. Landlord shall construct, or cause to be constructed, leasehold
improvements to the Premises (the "Work") in accordance with the Tenant's Plans
(hereinafter defined). Tenant shall cause a preliminary layout to be precared on
or before February 26, 1999 for Landlord's approval. Landlord's failure to
approve or disapprove the layout within seven (7) business days of its
submission shall be deemed an approval. Upon approval of the layout, Landlord
shall prepare, or cause to be prepared, working drawings for the construction of
the standard building items and improvements, adequate in detail to perform the
Work and shall have mechanical (sprinkler, air conditioning, heating, electrical
and plumbing) drawing prepared by Landlord's mechanical engineer covering
mechanical elements of the Work (together with the preliminary layout, the
drawings are referred to as the "Tenant's Plans"). The Tenant's Plans (and any
modifications thereof) shall comply with all governmental standards, regulations
and requirements and shall be subject to Landlord's and Tenant's approval (which
approval shall not be unreasonably withheld and shall be granted if such
Tenant's Plans are prepared consistent with the preliminary layout prepared by
Tenant). Tenant's failure to approve or disapprove the Tenant's Plans within
three (3) business days of submission shall be deemed an approval.

     2. Any other work desired by Tenant, and approved by Landlord (which
approval shall not be unreasonably withheld), shall be preformed by Landlord or
Landlord's contractors, unless Landlord otherwise consents in writing. If Tenant
desires any work in addition to the Work described in Section 1 hereof
("Additional Work"). Tenant shall cause the necessary drawings, plans and
specifications for the Additional Work to be included on the Tenant's Plans, or
shall submit to Landlord or Landlord's agent (at Tenant's sole cost and expense)
the necessary drawings, plans and specifications for the Additional Work so that
Landlord may include such work on the Tenant Plans which shall then be submitted
to Tenant for approval. Prior to commencing any such Additional Work requested
by Tenant, Landlord or Landlord's agent shall submit to Tenant a written
estimate of: (i) the cost of such Additional Work; and the number of days, if
any, that the Delay Period, as defined in Section 2 of the Lease, will be
Increased. If Tenant shall fail to approve said estimate within two (2) business
days from the receipt thereof, the same shall be deemed disapproved in all
respects by Tenant and Landlord shall not be authorized to proceed thereon. If
Tenant desires any changes in the Additional Work after having approved the
initial plans and cost estimate, Tenant shall be required to sign such field
order changes requested by Landlord or Landlord's contractors or agents to
evidence any such change desired by Tenant. Tenant acknowledges that no cost
estimate will be given for any changes in the Additional Work after the initial
cost estimate has been approved by Tenant, and Tenant shall be responsible for
any and all costs associated with any such change. Any time required to review
plans for Additional Work, incorporate the Additional Work into the Tenant Plans
and complete the Additional Work and changes thereto shall be added to the Delay
Period.

     3. Subject to Landlord's contractor's approval, Landlord shall permit
Tenant and Tenant's agents to enter the Premises two (2) weeks prior to the
Commencements Date of the Term of the Lease in order that Tenant may do such
other work as may be required by Tenant to make the Premises ready for Tenant's
use and occupancy. If Landlord permits such entry prior to such Commencement
Date, such permission is conditioned upon Tenant and its agents, contractors,
employees and invitees working in harmony and net interfering with Landlord and
its agents, contractors and employees in doing the Work and the Additional Work
or for other tenants and occupants of the Building. If at any time such entry
shall cause or threaten to cause disharmony or interference, Landlord shall have
the right to withdraw such permission upon 24 hours notice to Tenant. Tenant
agrees that any such entry into and occupation of the Premises shall be deemed
to be

                                        1

<PAGE>

to any of Tenant's work and installations made in the Premises or to properties
placed therein prior to the Commencement Date of the term of the Lease, the same
being at Tenant's sole risk.

     4. Substantial completion of the Work shall be deemed to occur on the date
when the Work has been completed (except for punchlist items which do not
materially, adversely affect Tenant's use) and a Certificate of Occupancy has
been issued for the Premises. If the substantial completion of the Premises by
Landlord is delayed due to any act or omission of Tenant or Tenant's
representatives, including any delays by Tenant in the submission of plans,
drawings, specifications or other information or in approving any drawings or
estimates or in giving any authorization or approval, the Premises shall be
deemed substantially completed on the date when they would have been ready but
for such delay.

                                        2

<PAGE>

                                   EXHIBIT "C"
                                   -----------

                    ACKNOWLEDGEMENT, ACCEPTANCE AND AMENDMENT

Tenant herby acknowledges that the Premises demised pursuant to the Lease to
which this Exhibit "C" is attached (the "Lease"), and all tenant finish items to
be completed by the Landlord, or Landlord's contractors, have been
satisfactorily completed in every respect, except for the punch-list items set
forth below, and Tenant hereby accepts said Premises as substantially complete
and ready for the uses intended as set forth in the Lease. Landlord shall
exercise diligent, good faith efforts to correct said punch-list items, if any,
within forty five (45) days after receipt of the punch-list, subject to
availability of materials. Possession of the Premises is hereby delivered to
Tenant, and any damages to walls, ceilings, floors or existing work, except for
any damage caused by Landlord or Landlord's contractors in completing any
punch-list items, shall be the sole responsibility of Tenant.

If any improvements or tenant finishes are to be constructed or installed by
Tenant or Tenant's contractors, as previously approved by Landlord, Tenant
hereby agrees to indemnify and hold harmless Landlord from and against any
claims, demands, loss or damage Landlord may suffer or sustain as a result of
such work by Tenant or Tenant's contractors including, without limitation, any
claim of lien which may be filed against the Premises or Landlord's Property as
a result of such work by Tenant's contractors or representative. In the event
any such claim of lien is filed against Landlord's Property by any contractor,
laborer or materialman performing work on the Premises at Tenent's direction,
Tenant agrees to cause such lien to be discharged, by payment of the claim or
bond, within twenty (20) days of receipt of demand by Landlord.

Tenant and Landlord hereby further acknowledge and agree as follows:

1.The Commencement Date (as defined in the Lease) is             , 1999 and the
                                                     ------------
Expiration Date (as defined in the Lease) is              , 2004.
                                             -------------

2.The exact rentable square feet contained within the Premises is 27,058 square
feet: and if differing from Exhibit "A-1" attached to the Lease.
                            ------------

3.Tenant's Share is 25.67%

4.The initial Base Rent payable under the Lease is $412,634.52 payable in equal
monthly installments as provided in the Lease.

5.Rent under the Lease will commence as of                 .
                                           ----------------

6.Tenant intends to occupy the Premises on                 .
                                           ----------------

7.          (No.) keys to the Premises have been delivered to Tenant or Tenant's
   --------
representative.

<PAGE>

8. The punch list items that remain to be completed by Landlord or Landlord's
contractor are listed on Exhibit "C-2" attached hereto.
                         ------------

9. This Acknowledgment, Acceptance and Amendment, when executed by Landlord and
Tenant, shall be attached to and shall become a part of the Lease. If any
provision contained herein conflicts with any provision of the Lease, the
provisions hereof shall supersede and control, and the Lease shall be deemed
modified and amended to conform with the provisions hereof.

10. Other agreements or modifications:
    ---------------------------------

<PAGE>

                                   EXHIBIT "D"
                                   -----------

                             (Landlord's Employees)

Title                                Percentage Apportioned to Property
-----                                ----------------------------------
Property Manager                                   41%

Assistant                                          41%

Maintenance Worker                                100%

<PAGE>

                                   EXHIBIT "E"
                                   -----------

                         SUBORDINATION, NON-DISTURBANCE
                            AND ATTORNMENT AGREEMENT

     This Agreement is made as of this        day of             1999, between
                                       ------        -----------
                           , (the "Mortgagee"), whose address is
---------------------------                                      ---------------
                                            , and
-------------------------------------------       ------------------------------
(the "Tenant"), whose address is
                                 ----------------------------------------------.

                                    RECITALS

     A. The Mortgagee intends to make a loan (the "Loan") to
                                                             -------------------
(the "Mortgager/Landlord"), which Loan is secured in, part by a first mortgage,
(the "Mortgage") from Mortgagor/Landlord to Mortgagee encumbering certain and
and the improvements, fixtures and personalty located thereon, collectively
known as                              ,(the "Premises")
         ----------------------------

     B. Pursuant to the Mortgage, the Mortgagor/Landlord has also assigned to
the Mortgage all of the leases, rents, profits and security deposits affecting
or arising in connection with the Premises or any part thereof.

     C. Tenant is a tenant in the Premises pursuant to a lease dated
                                                                     -----------
as amended (the "Lease").

                                    AGREEMENT

     NOW, THEREFORE, in consideration of the covenants and agreements
hereinafter contained, the parties hereto do mutually covenant and agree as
follows:

     1. The Recitals are true and correct and are made a part hereof.

     2. Tenant hereby agrees that all rights of Tenant under the Lease are and
shall at all times continue to be subordinate to the lien of the Mortgage, as
said Mortgage may be amended, renewed increased, modified, consolidated,
replaced, or extended.

     3. Mortgages agrees that during the term of the Lease and any extended term
thereof, so long as the Tenant is not in default thereunder beyond any
applicable cure periods. Tenant's possession of the demised premises (as
described in the Lease) shall not be disturbed and Tenant's rights and
privileges under the Lease shall not be diminished or interfered with by the
Mortgagee upon any proceeding to foreclosure the Mortgagee, and Mortgagee will
not join Tenant as a party defendant in any proceeding to forecicse the Mortgage
for the purpose of terminating the Lease.

     4. In the event that, by reason of the foreclosure of the Mortgage for any
reason, Mortgagee or any successor or assigns of Mortgagee succeeds to the
interest of the Mortgagor/Landlord under the Lease then upon receipt of written
notice from the Mortgagee or such successor or assignee that has succeeded to
the rights of the Mortgagor/Landlord under the Lease, Tenant hereby agrees to
recognize Mortgagee or such successor or assignee as Tenant's landlord under the
Lease and hereby agrees to attem to Mortgagee of such successor or assignee.
Said Attemment is to be effective and self-operative without the execution of
any other instrument immediately upon Mortgagee or any successor or assignee of

<PAGE>

Mortgagee succeeding to the rights of the Mortgagor/Landlord under the Lease,
and the Lease shall continue in accordance with its terms between Tenant, as
tenant, and Mortgagee or any successor or assignee of Mortgagee, as landlord,
provided, however, that Mortagagee or any successor or assignee of Mortgagee
shall not (i) Except for those prepayments of rent and the security deposit set
forth in the Lease, be bound by any prepayment of rent or additional rent,
deposit, rental security or any other sums paid to any prior landlord under the
Lease including, without limitation, the Mortgagor/ Landlord unless received and
receipted for by Mortgagee or its successor or assigns; (ii) be bound by any
amendment or modification of the lease made without the prior written consent of
Mortgagee or its successor or assignee, (iii) be personally liable under the
Lease and Mortgagee's or its successor's or assignee's liability under the Lease
shall be limited to the equity of Mortgagee in the Building and the Property,
except in the case of any liability for the return of the security deposit, for
which Mortgagee shall be liable, if and only if , Mortgagee receives the
security deposit from the Landlord;

     5. Tenant hereby certifies that: (i) to Tenant's knowledge, there are no
defaults on the part of the landlord (including, without limitation, the
Mortgagor/Landlord) under the Lease; (ii) the Lease is a complete statement of
the agreement of the parties thereto with respect to the letting of the demised
premises; (iii) the Lease is in full force and effect (iv) all conditions to the
effectiveness or continuing effectiveness of the Lease required to be satisfied
as of the date hereof have been satisfied ; and (v) Tenant has not paid, and
shall not pay, rent for more that one month in advance.

     6. Tenant will notify Mortgagee of any default by the Mortgagor/Landlord
which would entitle Tenant to cancel the Lease or abate the rent payable
therunder, and Tenant agrees that notwithstanding any provision of the Lease, no
notice of cancellation thereof and no abatement of rent thereunder shall be
effective unless Mortgagee has received the notice as aforesaid and has failed
within thirty (30) days of the date thereof to cure such default or if such
default cannot be cured within (30) days, has failed to commence and diligently
to prosecute the cure of the Mortgagor's/Landlord's default default which gave
rise to such right of cancellation or abatement.

     7. Tenants agrees that it will not, without the prior written consent of
Mortgagee (i) modify the Lease or any extensions or renewals thereof; (ii)
terminates the Leasa except as provided by its terms; (iii) tender or accept a
surrender of the Lease or make a prepayment in excess of one month of any rent
thereunder, or (iv) subordinate or permit subordination of the Lease to any lien
subordinate to the Mortgage. Any such purported action without such consent
shall be void as against Mortgagee.

     8. Tenant acknowledges and agrees that the provisions contained in the
Mortgage regarding the collection and application of insurance and condemnation
proceeds shall control over the Lease provisions regarding the collection and
application of insurance and condemnation proceeds.

     9. All notice required to be given under this Agreement shall be in writing
and shall be delivered be hand or mail and shall be conclusively deemed to have
been received if delivered or attempted to be delivered by United States first
class mail, return receipt requested, postage prepaid, addressed to the party
for whom it is intanced at the following address. Any party may designate a
change of address by written notice to the other party, received by such other
party at least ten (10) days before such change of address is to become
effective.

                                   Mortgagee:

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

                                       2

<PAGE>

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

                           ----------------------------
                           Attn:
                                -----------------------

                           Tenant:

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

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

                           ----------------------------
                           Attn:
                                -----------------------

     10. This Agreement shall be binding upon and inure to the benefit of the
parties hereto, and their respective successors assigns.

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

Signed, sealed and delivered                         TENANT:
in the presence of:
                                                     ---------------------------
                                                     a             corporation
                                                       ------------

                                                     By:                  (SEAL)
----------------------                                  -----------------
Name(Print or Type)                                                     , as its
                                                     -------------------

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

----------------------
Name (Print or Type)

                                                     MORTGAGEE

                                                     ---------------------------
                                                     a               corporation
----------------------                                 -------------
Name(Print or Type)

                                                     By:                  (SEAL)
----------------------                                   -----------------
Name(Print or Type)                                                      ,as its
                                                     --------------------

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

                                        3

<PAGE>

STATE OF FLORIDA           )
                           )
COUNTY OF MIAMI DADE       )

     The foregoing instrument was acknowledge before me this       day of
                                                             -----
       , 1999 by                                   of                        on
-------          ----------------------------------   ----------------------
behalf of the                  . He/She is personality Know to me or has
              -----------------
produced                      as identification and did (not) take an oath.
         --------------------

                                              ----------------------------------
                                              Type or print name:
                                                                 ---------------
                                              Notary Public
                                              Serial No:

STATE OF FLORIDA           )
                           )
COUNTY OF MIAMI DADE       )

     The foregoing instrument was acknowledged before me this       day of
                                                              -----
           1999 by                          of                       on behalf
----------         ------------------------    ---------------------
of the                 . He/She is personally know to me or has produced
       ----------------
                           as identification and did (not) take an oath.
--------------------------

                                              ----------------------------------
                                              Type or print name:
                                                                 ---------------
                                              Notary Public
                                              Serial No:

                                       4

<PAGE>

                                   EXHIBIT "F"
                                   -----------

                          (BASE BUILDING IMPROVEMENTS)

GENERAL NOTES:

1.   Items shall be provided as specified. Specifications are intended to denote
     quality only, the manufacturer or provider of the items are the sole
     discretion of the landlord.

2.   Any changes, additions, deletions or substitutions shall be at the sole
     expense of the Tenant. No exchanges or credits are given for quantities
     requested that are less than those provided by the Landlord.

3.   Where ratios are given, the standard practice will be to round "up"
     from 1/2 or greater, and round "down" for less than 1/2.

4.   All above Building Standard purchased by the Tenant shall meet minimum
     state and local codes.

OFFICE SPACE IMPROVEMENTS:

A.   CEILINGS

     1    Entire office premises shall be 24" x 24" x 5/8 regular lay in
          acoustical ceilings tile such as(USG Ellipse Clima 2' x 2' x 3/4')
          beveled tegular or equal, to be installed in 1" white suspended
          ceiling grid, above finish floor.

B.   PLUMBING

     2.   Sprinkler heads to be semi-concealed with a chrome finish. Sprinkler
          design to comply with minimum code requirements for standard office
          buildout.

C.   LIGHTING

     1.   Flourescent light fixtures shall be 2'x 4', 18 cell. parabolic
          -----------------------------------------
          fixture, Lithonia 2PM3.B-32 277-GLR/ES, with 3 lamps at 32 watts
          (3-F32T8) or equal, color white, with One (1) fixture shall be
          provided for every 85 feet of office space.

     2.   Fire Alarm System is to be installed in each tenant space to comply
          -----------------
          with the National Fire Protection Code and the South Florida Building
          Code. Smoke detectors, audio and visual fire alarms and building
          standard communication systems are by Simplex. Smoke Detectors,
          ionization Type, ceiling mounted to match building standard Simplex
          Catalog Number 2098-9201/9651, visual strobe light fire alarm to match
          building standard, Simplex Catalog Number 4904-9112, communication
          systems, fire alarm and voice communication speaker ceiling mounted to
          match building standard, Simplex Catalog Number 4902-9705. Existing
          junction boxes provided by base building. Fire extinguishers. 5 lb.
          ABC Cry Chemical are provided in accordance with the current South
          Florida Building Code.

D.   HVAC

     1.   Office premises shall be air conditioned through the base building
          HVAC system with VAV controls within each tenant space. Number of VAV
          boxes as per the base building design. Supply and return air grills
          shall be 2'x 2' perforated lay in type (building standard).

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