Document:

<PAGE>

                               ALLIANCE AGREEMENT

This Alliance Agreement (Agreement) is entered into as of January __, 2000
(Effective Date) by and between PaperExchange.com, Inc., a Delaware limited
liability company (PEx) and CH Robinson Worldwide, Inc., a Delaware corporation
(CHR).

                                   Background

CHR provides logistics services to customers in North America and other
geographies; PEx operates an electronic forum for the buying, selling and
trading of pulp, paper and paper packaging products. CHR and PEx see a mutually
beneficial opportunity to serve the needs of PEx customers for dependable,
cost-competitive, seamless logistics service throughout North America in respect
of products purchased through PEx.

NOW, THEREFORE, in consideration of the premises and the mutual covenants
contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, CHR and PEx agree as follows:

1.  DEFINITIONS.

      Capitalized terms used in this Agreement and not otherwise defined herein
shall have the meaning set forth below.

   Affiliate means with respect to either party, any Person that, directly or
indirectly, is controlled by, controls or is under common control with such
party. For purposes of this Agreement, control means, with respect to any
Person, the direct or indirect ownership of more than fifty percent (50%) of the
voting or income interest in such Person or the possession otherwise, directly
or indirectly, of the power to direct the management or policies of such Person.

   CHR Features means the (a) computer object codes (machine readable format);
(b) specifications; (c) executable Application Program Interface (API) modules;
(d) API information; (e) configuration files, reference data files, help files
and spreadsheets used to maintain any reference data; (f) assembly, test,
installation and service instructions; (g) engineering, programming, service and
maintenance notes and logs; (h) technical, operating and service and maintenance
manuals; (i) hardware reference manuals; user documentation; (j) training
materials; and (k) other data, information and know-how, which is necessary and
desirable to design, manufacture, assemble, service, maintain, install, operate,
use or test the CHR software described in Attachment B, together with any
additions, developments, enhancements, improvements, updates and other changes
in such software made during the term of this Agreement.

   Confidential Information means all proprietary and confidential information
of a party, including, without limitation, trade secrets, technical information,
business information, sales information, customer and potential customer lists
and identities, product sales plans, sublicense agreements, inventions,
developments, discoveries, software, know-how, methods, techniques, formulae,
data, processes and other trade secrets and proprietary ideas, whether or not
protectable under patent, trademark, copyright or other intellectual property
laws provided by either party to the other party pursuant to this Agreement in
written or other tangible medium and marked as confidential, or if disclosed
orally or displayed, confirmed in writing at the time of disclosure, except any
portion thereof which: (a) is known to the receiving party, as evidenced by the
receiving party's written records, before receipt thereof under this Agreement;
(b) is disclosed to the receiving party by a third person who is under no
obligation of confidentiality to the disclosing party hereunder with respect to
such information and who otherwise has a right to make such disclosure; (c) is
or becomes generally known in the trade through no fault of the receiving party;
(d) is independently developed by the receiving party, as evidenced by the
receiving party's written records, without access to such information; or (e) is
the subject of a subpoena or other validly issued administrative or judicial
process requesting disclosure of such Confidential Information; provided, the
party that receives such order or process provide prompt notice to the
disclosing party and permits the disclosing party to contest or narrow such
request for disclosure and thereafter complies with such subpoena or other
process.

   Force Majeure means any event beyond the control of the parties, including,
without limitation, failures of computers, computer-related equipment, hardware
or software, fire, flood, riots, strikes, epidemics, war

* Confidential Treatment Requested: material has been omitted and filed
  separately with the Commission.

<PAGE>

(declared or undeclared and including the continuance, expansion or new outbreak
of any war or conflict now in existence), embargoes and governmental actions or
decrees.

   North America means the United States of America and Canada.

   Person means any individual, corporation, association, partnership (general
or limited), joint venture, trust, estate, limited liability company, limited
liability partnership, unincorporated organization, government (or any agency or
political subdivision thereof) or other legal entity or organization.

   Trademarks means (i) the trademarks described on Attachment C, and (ii) any
other trademarks, as may be agreed upon in writing from time to time by the
parties for use by the parties in connection with the activities contemplated by
this AgreementCHR Services.

   Other Defined Terms. Each of the following terms have the meanings
ascribed to it in the section set forth opposite such term:

Agreement                           Recitals
Applicable Services                 Section 3.2
ASC                                 Section 3A.1
Change Control Document             Section 2.5
Change Request                      Section 2.5
CHR                                 Recitals
CHR Content                         Section 2.7; Attachment B
CHR Services                        Section 3.1
Competitor                          Section 3A.1
Effective Date                      Recitals
Final Acceptance                    Section 2.6
Final Specifications                Section 2.1; Attachment B
Fix Period                          Section 2.6
Indemnifying Party                  Section 8.3
Indemnitees                         Section 8.3
Losses                              Section 8.2
Material Nonconformity              Section 2.6
Milestone Delivery                  Section 2.2
Milestone Requirements              Section 2.2
Milestone Schedule                  Section 2.2; Attachment A
Millennium Compliant                Section 7.2
PEx                                 Recitals
PEx Content                         Section 3.1
PEx Services                        Section 3.1
Plan                                Section 3.2
Provider                            Section 3A.1
Redelivery                          Section 2.6
Requirements                        Section 2.1
Seller                              Section 3A.1
Services Information                Section 4.1
Source Material                     Section 5.3
Target Date                         Section 2.2
Test Period                         Section 2.6

2.    Site Development & Resources

      2.1 Specifications. The parties acknowledge that as of the Effective Date,
the complete specifications for the CHR Features have not been developed (the
Final Specifications). The objectives for the CHR Features include, but are not
limited to, (a) rapid transaction response; (b) transactional security; (c)

                                       2
<PAGE>

access to data for reporting and ancillary functions; (d) use of XML and EDI
protocols; (e) use of existing CHR functions (when appropriate and available);
and (f) data retention. The CHR Features implementing these objectives shall
include at least the following functionality and performance features (the
Requirements) as specified at the end of this Section 2.1. The Requirements are
expected to be augmented, changed and refined during the period commencing
January 10, 2000 and ending January 31, 2000 and such changes shall not require
Change Requests (as defined in Section 2.5), except to the extent they represent
new business processes. As agreement is reached as to detailed functional
requirements and specifications and the performance requirements, they will be
specified in Attachment B. PEx shall be under no obligation to approve the Final
Specifications until it is reasonably satisfied that the Final Specifications
meet the Requirements. The Requirements are as follows:

     Real-time Quote Estimates: CHR will provide real-time cost estimates when
     requested by PEx users utilizing the PEx web site logistics service for
     shipments originating and ending within North America.

     Real-time Transactable Quotes: CHR will provide real-time transactable
     quotes. Transactable quotes will be provided when requested by PEx
     customers utilizing the PEx web site logistics service with regard to
     specific offerings and requests posted on the site. Users requesting quote
     estimates and transactable quotes will be provided real-time quotes for
     both less-than-truckload and truckload shipments, along with estimated
     shipping times. Intermodal quotes will be provided, with shipping times,
     when the shipment is large enough to warrant intermodal transportation.

     Real-time Tracking: CHR will provide real-time tracking capabilities
     accessible from the PEx web site for all shipments managed by CHR. Tracking
     information will include day/time of pick-up, shipment status, estimated
     day/time of delivery or day/time product was delivered. PEx customers will
     be able to track their shipments through the PEx site using a tracking
     number provided by CHR/PEx.

     Documentation: Shipping document access, generation and retrieval will be
     available for bills-of-lading and other documents necessary to provide
     logistics services. CHR will periodically make available additional
     information technology resources to further develop and enhance PEx's
     internet logistics capabilities.

      2.2 CHR Features Construction. By March 31, 2000 (the Target Date), CHR
will, at its own cost, develop and deliver the CHR Features. Subject to
adjustment in accordance with Section 2.4, CHR will meet all Milestone Dates set
forth in Attachment A (the Milestone Schedule). On or before each Milestone Date
listed in the Milestone Schedule, CHR shall complete the activities described in
the Milestone Schedule (each, a Milestone Delivery) that meet (a) the
corresponding Milestone Requirement(s) set forth opposite such Milestone Date,
as well as (b) all Milestone Requirements for all previous Milestones (that is,
the Milestone Requirements are cumulative).

      2.3 PEx Obligations. (a) PEx will, at its own cost, (i) define its web
site functionality and (ii) develop a user interface to offer internet quote and
tracking capabilities through the PEx web site. PEx will meet the Milestone
Dates set forth in the Milestone Schedule for these deliverables.

      (b) PEx will, at its own cost allocate adequate information technology
resources to expedite implementation of the CHR Features on logistics portion of
the PEx web site, including formulation of the Final Specifications, performance
of acceptance tests and implementation of the CHR Features following acceptance.

      2.4 Date Adjustments. PEx and CHR each agree to perform the tasks assigned
to it in the Milestone Schedule. Each party acknowledges that delays in
performance by either party may cause delays in performance by the other party.
Notwithstanding the foregoing, CHR agrees to exercise all reasonable efforts to
keep PEx on schedule and to notify PEx when CHR reasonably believes that PEx
should accelerate performance to fulfill PEx's obligations under the Milestone
Schedule. If PEx's failure to timely meet its obligations under the Milestone
Schedule causes a material delay in CHR's performance, all dependent Milestone
Dates shall be adjusted day-for-day to account for the delay caused by PEx.
Except in PEx's sole

                                       3
<PAGE>

discretion, however, Milestone Dates shall not be adjusted to reflect Fix
Periods or other delays caused by CHR.

      2.5 Change Procedures. PEx will have the right to inspect the progress of
work on the CHR Features at all reasonable times during the development process
and to confer with CHR to confirm compliance with the Milestone Schedule, and
PEx will be consulted concerning any matters that could cause a delay in
completion of the CHR Features. CHR acknowledges that time is of the essence for
this Agreement, and that significant delays in the completion of the CHR
Features will cause PEx significant harm. No changes to the Milestone Schedule
will be made without written approval of PEx. PEx may request amendments to
Milestone Schedule to effect changes in the CHR Features. If PEx wishes to make
a change it shall notify CHR of the requested change specifying the change with
sufficient details to enable CHR to evaluate it (a Change Request). Within five
business days following the date of CHR's receipt of a PEx Change Request, CHR
shall deliver a document that: (a) assesses the impact of the change on the
schedule, and (b) incorporates a description of the requested change (a Change
Control Document). If PEx accepts the Change Control Document, then the
provisions of this Agreement shall be deemed amended to incorporate such change
in accordance with the Change Control Document. It is the intent of the parties
that the Milestone Schedule has been defined broadly enough to accomplish PEx's
goals for the CHR Features and that within the Milestone Schedule, no Change
Orders will be required.

      2.6 Acceptance Testing. (a) Commencing upon receipt by PEx of each
Milestone Delivery, PEx may, during the Test Period (as specified in the
Milestone Schedule opposite the Milestone Date), test the Milestone Delivery to
determine whether all applicable Milestone Requirements have been met. If one or
more Milestone Requirements are not met, PEx shall so notify CHR in writing,
stating the problems encountered. CHR shall have the time period set forth in
the Milestone Schedule for the applicable Milestone Delivery (the Fix Period) to
cure the problem and to redeliver the failed Milestone Delivery (a Redelivery).
After receipt by PEx of the Redelivery, PEx shall have a new Test Period to
re-examine and test the Milestone Delivery. If a Milestone Delivery is late or
if the Redelivery of a Milestone Delivery is Materially Nonconforming, PEx may
terminate this Agreement pursuant to Section 9.2. Material Nonconformity or
Materially Nonconforming means as to any Milestone Delivery, Redelivery or CHR
Features, errors or other failure(s) to meet the applicable Milestone
Requirements that (i) are not cured within the applicable cure period or Fix
Period and (ii) in PEx's reasonable judgment, individually or in the aggregate,
materially and adversely affect PEx's ability to perform the business functions
that are represented by or are within the scope of the applicable Milestone
Delivery or CHR Features.

      (b) The absence of notification by PEx within the Test Period that one or
more Milestone Requirements have not been met will not indicate acceptance of
all or any part of any Milestone Delivery, it being understood that PEx retains
the right to reject the Milestone Delivery unless, upon completion of testing of
the final Milestone Delivery, all functional and performance specifications set
forth in the Milestone Schedule have been met (Final Acceptance). Any grant by
PEx to CHR of an extended period to make a conforming Milestone Delivery shall
not be deemed to waive any of PEx's rights hereunder.

      (c) It is understood and agreed that a Milestone Delivery or Redelivery
need not be error-free to have achieved any particular Milestone Requirement,
but PEx may rightfully reject any Milestone Delivery or Redelivery that is
Materially Nonconforming. Notwithstanding the foregoing, Final Acceptance will
not relieve CHR of its obligation to correct nonconformities in accordance with
this Section 2.6. Neither Final Acceptance nor the conclusion of any Test Period
shall be deemed to be a waiver of any warranty claim of PEx or other obligation
of CHR. Acceptance of the CHR Features will not relieve CHR of its obligation to
use reasonable commercial efforts to correct all identified nonconformities in a
timely fashion.

      2.7 Operation of PEx Logistics Site. (a) After the PEx website embodying
the CHR Features is implemented, PEx shall place a link on the PEx website and
shall display CHR's logo on the portion of the PEx web site related to logistics
services in the form specified in Attachment C. Thereafter, PEx will notify CHR
if PEx makes any change in the location, sizing or placement of the CHR logo or
any links that appear on the PEx website that transfer users to the CHR website.
If CHR does not notify PEx of its objection to such change within five (5) days,
CHR shall be deemed to have approved such change. PEx shall host and

                                       4
<PAGE>

maintain the PEx website embodying the CHR Features at its sole cost and
expense. CHR, however, shall provide PEx, at CHR's sole cost and expense, all
relevant content as described in the Final Specifications for the CHR Features
(the CHR Content). Subject to the terms of this Agreement, CHR hereby grants PEx
an exclusive license to use, modify, enhance, reproduce, display, perform and
transmit the CHR Content.

      (b) PEx shall be solely responsible for the operation and maintenance of
the PEx website and for all materials that appear on the PEx Site, except for
the CHR Content. PEx will provide, install, repair, maintain and pay for the
communications, computer and peripheral equipment, services and facilities
supporting the PEx website. CHR will provide, install, repair, maintain and pay
for the communications, computer and peripheral equipment, services and
facilities necessary to deliver the CHR Content to the PEx website.

      2.8 Training; Technical Assistance. (a) CHR will provide PEx at no charge
with at least thirty (30) hours of training services covering the CHR Features.
CHR shall also provide PEx at no charge with update or "delta" training for each
major release of the CHR Features; such update training to be provided in a
timely manner to enable PEx to remain current with all improvements to the CHR
Features. CHR will provide PEx personnel with comprehensive written educational
materials as part of the training program and will ensure that PEx personnel are
afforded ample opportunity to discuss with CHR trainers the operation of the CHR
Features. PEx may use CHR training materials for purposes of training additional
PEx personnel after the initial training.

      (b) CHR shall provide to PEx upon request such technical assistance and/or
additional training as PEx may reasonably request to enable PEx to more
effectively operate and use the CHR Features. Such technical assistance or
additional training shall be provided at no charge. CHR shall also provide to
PEx any service or other support information and services that would assist PEx
in marketing the CHR Services. Such service and support information and
services, to the extent they exceed an amount deemed reasonable by CHR, shall be
provided at a negotiated rate calculated to cover CHR's costs to deliver such
services.

3.  MARKETING ARRANGEMENT.

      3.1 Appointment. (a) Subject to the terms of this Agreement, PEx hereby
appoints CHR as PEx's Preferred Provider of logistics services for PEx customer
shipments of goods purchased, sold or exchanged on PEx's website that both
originate and end in North America (CHR Services). CHR hereby accepts the
appointment as preferred provider.

      (b) Subject to the terms of this Agreement, CHR hereby appoints PEx as
CHR's Preferred Provider of electronic exchange services (including auction and
reverse auction services) for the purchase, sale or exchange of pulp, paper and
paper packaging products (PEx Services). PEx hereby accepts the appointment as
preferred provider.

      (c) Subject to the terms set forth in this Agreement, PEx will also offer
CHR the opportunity to participate in joint marketing activities and client
proposal opportunities for customers in the pulp, paper and printing industries.
Subject to the terms set forth in this Agreement, CHR will also offer PEx the
opportunity to participate in joint marketing activities and client proposal
opportunities for customers in the pulp, paper and printing industries.

      (d) Neither party shall have the right to make commitments of any kind for
or on behalf of the other party without the prior written consent of the other
party, in each and every case.

      3.2 Market Development Strategy. (a) The parties will work together to
create a joint marketing and business development plan (Plan) each year. Each
party will use commercially reasonable efforts to implement such Plan in
connection with the marketing and sale of PEx Services and CHR Services to
customers in the pulp, paper and paper packaging industries.

      (b) An Alliance Steering Committee (ASC) shall be responsible for
quarterly review and management of the Plan. The ASC shall consist of four
members, two members to be appointed by each of

                                       5
<PAGE>

PEx and CHR. Each party may with notice to the other substitute any of its
members serving on the ASC. The initial CHR members shall be Kent Stuart and
Nick Rogge and the initial PEx members shall be Rod Parsley and Bob Brenner.

      (c) The ASC shall be responsible for the management and conduct of the
Plan and shall in particular: (i) consider, review and amend the Plan from time
to time in such manner as may be appropriate; (ii) monitor progress of the Plan;
and (iii) report regularly to the management of both parties upon the progress
of the Plan.

      (d) The ASC shall hold formal meetings semi-annually or at any time upon
the reasonable request of either party during the term of the Plan. Unless
otherwise agreed by the parties all meetings of the ASC shall be held in
Minneapolis and in Boston on an alternating basis, with the first meeting to be
held in Boston on or around May 5, 2000. Meetings shall be scheduled with at
least twenty-one (21) days notice; the party that seeks to convene a particular
meeting shall be responsible for the meeting notice and scheduling; provided,
that the hosting party shall be responsible for notice and scheduling of the
semi-annual meetings. The quorum for ASC meetings shall be two, provided there
are at least one member from each of PEx and CHR present.

      3.3 Marketing Efforts. (a) Subject to the provisions of this Agreement,
PEx and CHR will jointly work together to create a mutual understanding of
opportunities which are of priority interest and assist each party in focusing
their marketing efforts. The parties shall also work to identify target
customers and develop proposals for potential customers to propose a solution
encompassing CHR Services and PEx Services.

      (b) PEx, in its reasonable business discretion, may include appropriate
individuals from CHR in PEx sales calls to mills, converters, end-users, and
other PEx customers.

      (c) PEx will request that its Board of Directors and veteran industry
sales force use reasonable efforts to provide pulp, paper and paper packaging
industry specific sales leads to CHR. Such leads shall include segments of the
industry that are currently lacking effective logistics solutions, and how such
industry participants could be marketed to by CHR for the purposes of this
Section 3. CHR may only use the information provided to them pursuant to this
Section 3.3(c) in connection with its performance under this Section 3.

      (d) PEx will commit its sales force to promote a solution encompassing CHR
Services and PEx Services on visits to PEx's current and potential customers
including manufacturers, converters, brokers and printers.

      (e) PEx will promote CHR's logistics services to other
business-to-business e-commerce sites that are seeking logistics services
including, but not limited to, the Internet Capital Group portfolio of
companies.

      (f) CHR will promote PEx's electronic exchange services to its customers
who produce, buy, trade or distribute pulp, paper, paper packaging, or converted
paper products.

      (g) CHR will, at its reasonable business discretion, develop marketing
material, in conjunction with PEx, to demonstrate how pulp, paper, paper
packaging, printing, and related customers of CHR can benefit from this
alliance.

3A.  Exclusivity.

      3A.1 Preferred Provider Status. Preferred Provider means as to either
party (each, a Provider), that it will be positioned internally at the other
party (each, a Seller) and externally by Seller such that the visibility Seller
affords Provider as a provider of Applicable Services, the rights Seller grants
to Provider as a provider of Applicable Services, and Provider's access to
Seller's sales organization as a provider of Applicable Services are superior to
the visibility Seller affords, the rights Seller grants, and the access to
Seller's sales organization, that Seller allows any Competitor as a provider of
Applicable Services. During the term of this Agreement and any renewal or
extension thereof, neither Seller will grant any Competitor of

                                       6
<PAGE>

Provider the status which is equivalent to, or better than, the status and
rights accorded the other party as the Preferred Provider under this Agreement.
Applicable Services means (i) as to PEx, the PEx Services and (ii) as to CHR,
the CHR Services. Competitor means (1) as to PEx, any third party offering or
performing similar internet exchange, auction or reverse auction services for
the sale, purchase or exchange of pulp, paper, and paper packaging products; and
(2) as the CHR, any third party offering or performing substantially similar
logistics services for shipments of goods originating and ending within North
America; provided that it shall not include XPEDX, Unisource or any similar
paper distributor that includes logistics services as part of its product
offerings but for which such logistics services are not its' primary business.

      3A.2 PEx Obligations. During the term of this Agreement, (i) PEx will use
CHR for all shipments of goods purchased through the PEx website originating and
ending within North America unless: (1) CHR does not provide logistics service
on any particular route; (2) CHR does not provide the particular mode of
transportation requested by a PEx member; (3) a PEx member specifically requests
an alternative logistics provider; or (4) a PEx member wishes to use their
company-owned logistics services; and (ii) PEx shall not, directly or
indirectly, by itself, through its Affiliates or through any type of joint
venture or similar affiliation with a third party enter into a strategic
partnership or integrate electronically with a CHR Competitor to offer logistics
services for shipments originating and ending within North America.

      3A.3 CHR Obligations. During the term of this Agreement and for a period
of two years after the expiration or termination of this Agreement, CHR shall
not, directly or indirectly, by itself, through its Affiliates or through any
type of joint venture or similar affiliation with a third party, without prior
written approval from PEx, enter into a strategic partnership or integrate
electronically with or offer CHR Services to a PEx Competitor. CHR may, however,
continue to offer and provide logistics services directly to customers,
including those that are pulp, paper or paper packaging producers, distributors,
converters, or printers.

4.  DELIVERY OF CHR SERVICES

      4.1 Service Orders. (a) PEx customers shall place orders for CHR Services
by completing the purchase forms posted on the logistics portion of the PEx
website, or by other means agreed upon by the parties. No order shall be binding
upon CHR until the same shall have been accepted by CHR. CHR shall accept or
reject all orders within one (1) business day following receipt of same and
shall deliver all orders that are accepted within the time frame specified in
the order. CHR may reject any order that does not comply with the provisions of
this Agreement by providing to PEx and the PEx Customer, within one (1) business
day of its receipt of the non-complying order, a written notice specifying the
noncompliance. Any order that is not rejected in a timely manner or with
specificity shall be deemed accepted by CHR on the second business day following
CHR's receipt of the order. In case of conflict between the standard printed
terms of purchase/sale of CHR and the terms posted on the PEx website, the
latter shall prevail. When allocating resources with respect to filling orders
for CHR Services, CHR shall ensure that PEx orders are accepted and filled in a
manner that is in all material respects the same as or superior to the priority
and fill rate CHR applies to CHR Services ordered by third parties.

      (b) CHR will provide PEx customers with logistics services for shipments
originating or ending outside of North America, as its resources permit,
including 24-hour customer service for issues regarding transportation including
freight quotes, shipment tracking, pick-up and delivery inquires and customer
complaints. Best efforts will be used to provide PEx with competitive prices and
to provide quotes in a timely manner (i.e., within 24 hours).

      (c) When practical, PEx will promote the use of CHR's logistics services
for shipments for PEx customers that originate or end outside of North America.
CHR will provide logistics services for PEx shipments originating or ending
outside of North America, as its capabilities permit. Best efforts will be used
to provide PEx with competitive prices and to provide quotes in a timely manner,
not to exceed twenty four (24) hours following receipt of the PEx request for
CHR Services for such shipment.

      4.2 Obligation to Supply. CHR shall not be in breach of this Section 4.2
if CHR's failure to supply CHR Services is due to a Force Majeure event.

                                       7
<PAGE>

      4.3 PEx Logistics Resources. (a) PEx will hire a senior level Logistics
Manager, experienced in logistics matters to manage PEx's delivery of logistics
services through the PEx website. CHR will assist PEx in its efforts to identify
and recruit a qualified candidate for the Logistics Manager position. CHR will
work with the PEx Logistics Manager on a daily basis to provide to further
develop logistics services for PEx customers.

      (b) PEx will provide CHR with guidance and feedback from PEx staff
concerning the PEx Services relating to logistics and the CHR Services. Such
feedback shall be focused on information received from PEx customers concerning:
cost competitiveness of PEx price quotes, pick-up and on-time delivery
performance, customer complaints and similar matters.]

      (c) PEx shall devote commercially reasonable efforts to promote the
acceptance of the CHR Services by PEx customers shall include the following
general activities performed in the reasonable business judgment of PEx: (i)
tailoring and extending PEx's existing methodologies to reflect the nuances of
logistics and CHR Services; and (ii) otherwise conducting such activities as are
reasonably appropriate for the marketing and sale of the CHR Services as part of
the PEx Services.

      4.4 CHR Logistics Resources. (a) CHR shall furnish at no cost to PEx
reasonable quantities of promotional materials, such as sales literature and
procedures manuals (the Services Information)in order for PEx to promote the CHR
Services as provided for in this Agreement. Except as otherwise agreed by the
parties, PEx may use such Services Information without any limitation on
disclosure. In any event, CHR hereby grants PEx permission to disclose certain
Services Information to be designated and furnished by CHR to customers without
the requirement for non-disclosure agreements. CHR represents and warrants that
the Services Information as provided to PEx shall be accurate in all material
respects when provided, and CHR undertakes to update such Services Information
when necessary.

      (b) CHR will provide PEx with its current CHR Services price list and
form(s) of CHR Services agreements in accordance with Section 5.3. CHR will
provide PEx with any revisions or updates to such materials and shall provide
additional copies of such materials upon request of PEx. With respect to CHR's
price list, CHR may update such list from time to time during the term of this
Agreement; provided that price adjustments shall not be made more often than
every ninety (90) days unless extraordinary circumstances require the adjustment
of prices to account for market phenomena.

      (c) CHR shall devote commercially reasonable efforts to support PEx's
promotion and sales efforts, including the following general activities: (i)
answering technical questions and providing PEx with proposal assistance and
tutorial assistance relating to the CHR Services; (ii) supplying experts to
support detailed technical presentations and meetings relating to the CHR
Services; (iii) providing quotations for standard and custom configurations for
the CHR Services; and (iv) responding to phone calls from prospective customers.

5.  PRICING; PAYMENT

      5.1 Pricing. (a) PEx will quote prices for CHR Services on the logistics
portion of the PEx website that are based on the prices provided PEx by CHR
pursuant to Section 4.4(b) and include a mark-up determined in accordance with
Section 5.3. PEx will provide CHR with notice of the mark-up it adds to CHR's
prices as delivered under Section 4.4(b).

      (b) CHR will act in good faith to provide PEx with competitive rates for
logistics services.

      (c) Neither party shall disclose any billing or cost rates of the other
party to any Customer, potential Customer or Registered Prospect without prior
written approval of the other party.

      5.2 Payment. PEx shall bill PEx customers that order CHR Services from the
PEx website at the rate determined in accordance with Section 5.1(a) and shall
pay CHR for CHR Services within thirty five (35) days after delivery to the
Customer, after deducting the portion of the fee charged the PEx Customer
ascribed to "mark-up". It is understood and agreed that PEx shall be responsible
for payment of CHR fees in respect

                                       8
<PAGE>

of CHR Services regardless of PEx's receipt of payment from PEx customers. It is
further understood and agreed that PEx shall have sole discretion with respect
to those PEx customers that PEx permits to purchase CHR Services from the PEx
Site and that PEx may make such determinations based upon its' analysis of the
creditworthiness of such customers. All payments shall be stated and paid in
U.S. Dollars. Revenue received in currencies other than U.S. Dollars, shall be
converted to U.S. Dollars using the exchange rate in effect as of the date that
the payment is received by PEx. All payments from PEx to CHR or from CHR to PEx
will be reduced by any applicable withholding taxes. PEx and CHR will cooperate
to minimize, to the extent legally permissible, the tax liabilities related to
the transactions contemplated by this Agreement; provided such cooperation shall
not cause any adverse tax consequences to be incurred by either party which
would not have been incurred under the terms and conditions as described in this
Agreement. Each party shall provide and make available to the other party any
resale certificates, information regarding out-of-state or out-of-country sales,
and other exemption certificates or information reasonably requested by the
other party.

      5.3 Post Effective Amendment. Within fourteen (14) days after the
Effective Date, the parties will attempt to specify the pricing ((Section
4.4(b)) and markup (Section 5.1) that will apply to transactions pursuant to
this Agreement. The procedure shall be as follows: CHR will provide notice to
PEx of PEx's proposed pricing, including applicable discounts. PEx will notify
CHR of its response to the CHR proposal within fourteen (14) days, including the
markup formula that PEx proposes to use, and, if PEx does not agree to such
pricing PEx shall provide a counteroffer. The parties will discuss any
differences between the pricing and discounts offered by CHR and the pricing and
discounts sought by PEx and, if no agreement is reached within seven (7) days
following PEx's notice to CHR, they will meet at a mutually acceptable location
to resolve any differences. If the parties are unable to reach agreement within
seven (7) days after meeting, either party may immediately terminate this
Agreement with notice to the other party and without need to use the procedures
specified in Section 10.2. Upon resolution of the applicable pricing, discounts
and markup formula, a memorandum supplying the missing terms will be executed
and appended to this Agreement as Amendment No. 1.

6.  PUBLICITY; CONFIDENTIALITY; PROPRIETARY RIGHTS; LICENSES

      6.1 Publicity. (a) Except as is necessary to comply with applicable laws
and regulations or to enforce their respective rights under this Agreement, or
to a party's legal or financial advisors, and except as otherwise agreed to by
the parties in writing, the parties shall: (i) keep the material terms of this
Agreement confidential, (ii) agree upon the text and the exact timing of an
initial public announcement relating to the transactions contemplated by this
Agreement as soon as possible after the Effective Date (such agreement not to be
unreasonably withheld or delayed) and (iii) agree on the text and the timing of
any subsequent public announcements regarding this Agreement or the transactions
contemplated herein. If this Agreement is required to be filed by CHR with the
Securities and Exchange Commission, CHR shall not file this Agreement with the
Securities and Exchange Commission without first notifying PEx and seeking
confidential treatment for any provisions of this Agreement that PEx believes
would disclose trade secrets, confidential commercial or financial information
that would impair the value of the contractual rights represented by this
Agreement or provide detailed commercial and financial information to
competitors or third parties.

      (b) Except as otherwise provided in Section 6.5, neither party shall use
the name of the other party or any director, officer or employee of the other
party or any adaptation thereof without the prior written approval of the other
party; provided that subject to approval of the text of any promotional
material(s) or disclosures: (i) CHR shall have the right to promote PEx as a
preferred provider of internet exchange services for pulp, paper and paper
packaging products and its relationship with PEx as a provider of logistics
services as set forth in this Agreement in its marketing collateral and in
customer presentations and (ii) PEx shall have the right to promote CHR as its
preferred provider of logistics services for PEx customer shipments that both
originate and end in North America in its marketing collateral and in customer
presentations.

      6.2 Confidentiality. (a) It is contemplated that in the course of the
performance of this Agreement each party may, from time to time, disclose
Confidential Information to the other. Each party agrees to take

                                       9
<PAGE>

all reasonable steps to prevent disclosure of Confidential Information and not
to use any Confidential Information except for the limited purposes set forth in
this Agreement.

      (b) All Confidential Information made available hereunder, including
copies thereof, shall be returned or destroyed upon the first to occur of (i)
termination of this Agreement or (ii) written request by the discloser.

      6.3 Proprietary Rights. (a) This Agreement does not convey to PEx any
ownership rights in any CHR Content, CHR Features or CHR Services or in any
intellectual property rights embodied in such CHR Content, CHR Features or CHR
Services by implication, estoppel or otherwise except for the rights expressly
granted under this Agreement. Title to the CHR Content, CHR Features and CHR
Services and the intellectual property rights embodied in the CHR Content, CHR
Features and CHR Services shall at all times remain vested in CHR or its
licensors; provided, that with respect to the CHR Features for which CHR retains
title, CHR hereby grants and agrees to grant PEx a non-exclusive, fully paid-up
and royalty-free license to use such CHR Features and intellectual property to
the extent necessary for PEx to make use of, market and distribute the PEx
Services alone or in combination with other technology and information as part
of PEx's business.

      (b) This Agreement does not convey to CHR any ownership rights in any
products, materials, tools and methodologies that are proprietary to PEx or to
third parties or in any intellectual property rights embodied in such products,
materials, tools and methodologies by implication, estoppel or otherwise except
for the rights expressly granted under this Agreement. Title to all such
products, materials, tools and methodologies and the intellectual property
rights embodied in such products, materials, tools and methodologies shall at
all times remain vested in PEx or its licensors.

      6.4 Enabling Licenses. (a) CHR hereby grants to PEx a worldwide, paid-up
and royalty-free license to (i) market, use, reproduce and display the CHR
Features to potential customers and PEx personnel and (ii) use the CHR Features
to develop enhancements, modifications, and derivative works of the CHR Features
for the purpose of: (1) marketing, promoting and demonstrating the CHR Features
pursuant to Section 6.4(a)(i) and 6.4(b); (2) developing and demonstrating
application programs utilizing the CHR Features; (3) training PEx personnel; and
(4) providing PEx Services to PEx customers.

      (b) CHR hereby grants to PEx a non-exclusive, non-transferable license to
use, reproduce, display and transmit the CHR Content, solely in connection with
the development, maintenance and operation of the PEx Site, subject to and in
accordance with the terms, conditions and provisions of this Agreement. PEx
shall place a CHR Link in a mutually agreeable location and size on each page of
the PEx Site that contains all or a portion of the CHR Content. CHR and PEx
shall mutually agree upon the method of implementing such links. PEx shall not
remove any titles or any trademark, copyright or patent notices, or any
proprietary or restricted rights notices that appear on the CHR Content. All
such titles and notices must be reproduced on all permitted copies of the CHR
Content.

      (c) CHR will provide PEx at no charge any updates and upgrades it makes to
the CHR Features. CHR will also provide PEx at no charge any new releases it
makes for the CHR Features. CHR shall deliver updates and upgrades to PEx not
later than thirty (30) days after it initially implements such updates, upgrades
and new releases.

      6.5 Trademark License. (a) Subject to PEx's compliance with this Sections
6.5, CHR hereby grants to PEx a fully paid up and royalty-free right and license
to use the Trademarks in connection with the promotion, marketing and sale of
the CHR Services during the term of this Agreement. Subject to Section 6.5(d),
CHR shall take such actions as are reasonably required to maintain the
Trademarks in effect, and shall inform PEx of any changes in or additions to the
Trademarks. All right, title and interest to the Trademarks shall remain with
CHR and no other license relating thereto is granted hereunder.

      (b) Subject to the wind-down rights set forth in Section 9.3, upon any
expiration or termination of this Agreement, the license to PEx to use the
Trademarks shall terminate, and PEx shall take all necessary

                                       10
<PAGE>

action and execute and deliver to CHR all necessary documents and instruments to
remove PEx as a registered user and/or a recorded licensee of the Trademarks.

      (c) Each party hereto agrees to notify the other in writing promptly (but
not later than thirty (30) days) after obtaining knowledge of any infringements
or imitations of the Trademarks by third parties.

      (d) CHR reserves the right to modify the Trademarks or substitute
alternative marks for any or all of the Trademarks at any time upon thirty (30)
days written notice; provided, that PEx shall not be required to incur any
expense to re-mark or otherwise modify sales collateral to adopt such modified,
substituted or alternative marks but shall implement such marks in a
commercially reasonable manner consistent with the depletion of then existing
inventory and sales collateral.

      (e) Upon request of CHR, PEx shall provide CHR with a sample of all
product packaging and advertising that makes use of the Trademarks for purposes
of permitting CHR to verify that PEx's use of the Trademarks is consistent with
the provisions of Attachment C, but CHR's rights shall only extend to the
depiction of the Trademarks in such packaging and advertising copy and not to
any other content of such copy. PEx shall not challenge, directly or indirectly,
CHR's rights in respect of the Trademarks for the CHR Services, provided, that
PEx shall not waive its rights with respect to existing trademarks owned by PEx
or trademarks that PEx acquires during the term of this Agreement, and PEx shall
not waive any rights with respect to the protection of its trademarks. PEx shall
comply with the Trademark guidelines set forth in Attachment C. In the event
that PEx elects to adopt other marks for use in the promotion, marketing and
sale of the CHR Services then this Section 6.5(e) shall not apply to PEx's use
of such other marks.

7.  REPRESENTATIONS AND WARRANTIES.

      7.1 Authorization; Enforceability. Each of CHR and PEx represent and
warrant to the other that: (a) it is a corporation or limited liability company
duly organized, validly existing and in good standing under the laws of its
organizing jurisdiction; (b) it has all requisite power and authority to enter
into this Agreement; (c) it is duly authorized to execute and deliver this
Agreement and to perform its obligations hereunder and consummate the
transactions contemplated hereby; and (d) this Agreement is a valid and binding
obligation of such party enforceable in accordance with its terms.

      7.2 CHR Features Warranty. (a) CHR represents and warrants to PEx that
owns or has valid licenses to all copyrights, patents, trade secrets,
trademarks, and other proprietary or intellectual property rights relating to
the CHR Features and the CHR Content and has the right to grant to PEx the
rights and licenses purported to be granted by or pursuant to this Agreement,
and has all other rights necessary for the performance of its obligations under
this Agreement.

      (b) CHR represents and warrants that no software included in the CHR
Features shall contain any authorization strings, time limiting codes or other
instructions or codes that (i) prevent the CHR Services from being fully
functional at all times or (ii) may be used to obtain access to the CHR Services
without PEx's knowledge and authorization or (iii) may be used to, modify,
damage, disable, or compromise the security of any PEx technology, data,
information, or other proprietary or intellectual property rights including
without limitation any software, files, computer systems or networks of PEx.

      (c) CHR represents and warrants that any software included in the CHR
Features shall be Millenium Compliant. Millennium Compliant means as to any
hardware, firmware, software or other technology associated with the CHR
Features, that it correctly performs all date-related operations (i) without
human intervention, other than original data entry of any date, (ii) without
regard to whether any date involved in the operation occurs in the 20th or 21st
Century and (iii) without regard to the system date at the time the calculation
is performed; provided that no failure to be Millennium Compliant shall be
deemed to have occurred if the non-compliance is due to hardware, firmware,
software or data not supplied by CHR (other than such third party hardware,
firmware, software or data that falls into either of the two following
categories: (1) with which CHR software is intended to interface, if any
agreement assigns to CHR the responsibility for ensuring the correct operation
of such interface; or (2) that is required, selected, embedded or supplied by
CHR).

                                       11
<PAGE>

      7.3 Customer Warranties. (a) CHR shall extend to each Customer that enters
into an agreement to acquire CHR Services pursuant to this Agreement the
warranties and indemnification for its CHR Services and services that it
generally extends to its customers. CHR will provide each Customer that enters
into an agreement to acquire CHR Services pursuant to this Agreement support
services that are at least as favorable as the support services CHR generally
extends to its customers.

      (c) It is understood and agreed that, as between the parties, CHR shall
remain solely responsible to customers for the performance of the CHR Services
and PEx shall remain solely responsible to customers for the performance of the
PEx Services.

8.  RISK ALLOCATION

      8.1 LIMITATION OF LIABILITY. (a) EXCEPT FOR INFRINGEMENT OF THE OTHER
PARTY'S INTELLECTUAL PROPERTY RIGHTS OR BREACH OF CONFIDENTIALITY OBLIGATIONS
UNDER SECTION 6.2 AND EXCEPT AS OTHERWISE PROVIDED IN SECTIONS 8.2-8.3 WITH
RESPECT TO THIRD PARTY CLAIMS, THE AGGREGATE LIABILITY OF EITHER PARTY FOR
DIRECT DAMAGES ARISING OUT OF THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED
HEREBY SHALL BE LIMITED TO THE AGGREGATE AMOUNT PAID TO SUCH PARTY BY THE OTHER
PARTY AS OF THE DATE SUCH CLAIM IS FINALLY RESOLVED. IN NO EVENT SHALL EITHER
PARTY BE LIABLE TO THE OTHER FOR LOST PROFITS OR SAVINGS OR FOR ANY INDIRECT,
INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE OR EXEMPLARY DAMAGES IN CONNECTION
WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, HOWEVER
CAUSED, UNDER ANY THEORY OF LIABILITY.

      (b) In addition to the limitation of liability specified in Section
8.1(a), it is understood and agreed that neither party shall be liable to the
other for money damages in respect of a breach of Section 2 and that PEX's sole
remedy for breach of Section 2 by CHR shall be the termination of this
Agreement.

      8.2 Infringement Indemnification. (a) Subject to the provisions of Section
8.4, each party shall defend, indemnify and hold harmless the other party, its
subsidiaries, parent corporations, Affiliates, officers, directors, independent
contractors, partners, shareholders, employees, agents, successors and assigns
from and against any claim, suit, demand, loss, damage, expense (including
reasonable attorney's fees of indemnitee(s) and those that may be asserted by a
third party) or liability (collectively, Losses) arising from or related to an
allegation that the CHR Content, CHR Features or PEx Content or PEx Services, as
the case may be, provided by such party to the other party or a Customer
pursuant to this Agreement infringe or misappropriate any intellectual property
right of any third party.

      (b) In addition to its obligations under Section 8.2(a), if any CHR
Content, CHR Features, PEx Content or PEx Services is held to constitute an
infringement or misappropriation of any third party's intellectual property
rights or if in the providing party's opinion, any CHR Content, CHR Features,
PEx Content or PEx Services is, or is likely to be held to constitute, an
infringement or misappropriation, such party will at its expense and option: (i)
procure the right for the other party to continue using the CHR Content, CHR
Features or PEx Content or PEx Services; (ii) replace the CHR Content, CHR
Features or PEx Content or PEx Services with a non-infringing and
non-misappropriating equivalent conforming to the applicable specifications; or
(iii) modify the CHR Content, CHR Features, PEx Content or PEx Services to make
it non-infringing and non-misappropriating while conforming to the applicable
specifications.

8.3 Other Claims. Subject to the provisions of Section 8.4, each of CHR and PEx
(each, an Indemnifying Party) will defend, indemnify and hold harmless the other
party, its subsidiaries, parent corporations, affiliates, officers, directors,
partners, shareholders, employees, agents, and their successors and assigns
(collectively, the Indemnitees) from and against any Losses imposed upon the
Indemnitee(s) by any third party arising from or related to (a) personal injury
or property damage which is proximately caused by any negligence or intentional
misconduct by such Indemnifying Party (or its employees, agents or
representatives) in performing its obligations under this Agreement; (b) any
breach by the Indemnifying Party of the

                                       12
<PAGE>

representations, warranties or agreements made by it under this Agreement; or
(c) the promotion, advertisement or marketing of the Indemnitee's Content or
Services by or on behalf of the Indemnifying Party. The foregoing
indemnification action shall not apply in the event and to the extent that a
court of competent jurisdiction determines that such Losses arose as a result of
any Indemnitee's negligence, intentional misconduct or breach of this Agreement.
CHR shall require each of its Affiliates and any third party providers of
logistics services pursuant to this Agreement to indemnify, defend and hold
harmless CHR (and PEx) Indemnitees under the same terms as stated in this
Section 8.3.

      8.4 Procedure. To receive the benefit of indemnification under Section 8.2
or 8.3, the party seeking indemnification must promptly notify the other party
in writing of a claim or suit and provide reasonable cooperation (at the
Indemnifying Party's expense) and tender to the Indemnifying Party (and its
insurer) full authority to defend or settle the claim or suit. Neither party has
any obligation to indemnify the other party in connection with any settlement
made without the Indemnifying Party's written consent. The Indemnitee has the
right to participate at its own expense in the claim or suit and in selecting
counsel therefor. The Indemnitee shall cooperate with Indemnifying Party (and
its insurer), as reasonably requested, at Indemnifying Party's sole cost and
expense.

      8.5 Insurance. Each party shall procure and maintain insurance or
self-insurance adequate to cover its obligations hereunder and which are
consistent with normal business practices of prudent companies similarly
situated. It is understood that such insurance shall not be construed to create
a limit of either party's liability with respect to its indemnification
obligations under this Section 9. Each party shall provide the other with
written evidence of such insurance (or financial information that describes the
amounts available under any self-insurance facility) upon request. Each party
shall provide the other with written notice at least fifteen (15) days prior to
the cancellation, non-renewal or material change in such insurance or
self-insurance which materially adversely affects the rights of the other party
hereunder. If such party does not obtain replacement insurance or take other
measures that allow it to provide comparable coverage within such 15-day period,
the other party shall have the right to terminate this Agreement effective at
the end of such fifteen (15) day period without notice or any additional waiting
periods.

9.  TERM AND TERMINATION.

      9.1 Term. This Agreement shall take effect as the Effective Date and shall
remain in effect until the eighteen month anniversary of the Effective Date,
unless sooner terminated in accordance with Section 9.2 or extended in
accordance with this Section 9.1. Thereafter, this Agreement shall automatically
renew for successive 12-month terms unless either party notifies the other party
at least thirty (30) days prior to the expiration of the then current term that
it does not wish to renew this Agreement for an additional term.

      9.2 Termination. Either party may terminate this Agreement at any time
upon thirty (30) days notice to the other party in the event that the other
party shall have breached any of its material obligations hereunder and shall
not have cured such default prior to the expiration of the thirty (30)-day
period. In addition, either party shall have the right to terminate this
Agreement upon thirty (30) days notice if a Force Majeure condition has
prevented performance by the other party for more than one hundred twenty (120)
days. The parties may also terminate this Agreement at any time upon mutual
written agreement of the parties.

      9.3 Effect of Termination. (a) Upon termination (including expiration) of
this Agreement:

      (i) CHR and PEx will terminate all tasks for all effected Customer in an
   orderly manner, as soon as practical or in accordance with a schedule agreed
   to by PEx and CHR to minimize disruption to customers;

      (ii) each party shall return to the other party or certify in writing to
   the other party that it has destroyed all documents and other tangible items
   it or its employees or agents have received or created pertaining, referring
   or relating to the Confidential Information of the other party;

                                       13
<PAGE>

      (iii) each party shall discontinue making any representation regarding its
   status as a "Preferred Provider" for the other party and shall cease
   conducting any activities with respect to the joint marketing, promotion,
   sale or distribution of the PEx Services and CHR Services;

      (iv) Each party will discontinue any and all use of trade names and/or
   trademarks authorized for use under this Agreement, except as necessary to
   fulfill its obligations to customers in accordance with this Section 9.3;

      (v) PEx will discontinue any and all use of the licenses granted under
   Section 5.5, except as necessary to fulfill its obligations to customers in
   accordance with this Section 9.3; and

      (vi) each party will return to the other party or certify in writing to
   the other party that it has destroyed all documents and other tangible items
   it or its employees or agents have received or created pursuant to this
   Agreement pertaining, referring or relating to the Confidential Information
   of the other party, except that each party may retain one (1) complete copy
   of Confidential Information (1) for use in accordance with Sections 9.3(a)(i)
   and 9.3(v) and (2) for archival purposes to assure compliance with this
   Agreement.

      (b) Termination of this Agreement by either party for any reason shall not
affect the rights and obligations of the parties that accrued prior to the
effective date of termination of this Agreement or release either party from
obligations to resell or license CHR Services made prior to the date of
termination, or affect existing licenses or purchase orders for the CHR
Services. Notwithstanding any provision of this Agreement to the contrary, each
party may continue to exercise the rights and licenses granted hereunder to the
extent necessary to allow such party to fulfill its obligations under existing
engagement agreements or included in any proposal to a Customer that was
outstanding at the time of termination. PEx specifically:

      (i) may continue to market and use the CHR Services for a period of not
   more than ninety (90) days following the date of termination to meet any
   obligations or services that PEx has undertaken with respect to customers as
   of the date of termination;

      (ii) shall continue to have the right to use and access the CHR Content
   and CHR Features (including all documentation and related technical
   information and support) to fulfill its obligations to customers for a period
   of not more than ninety (90) days following the date of termination.

      (c) The provisions of Sections 6.1-6.5, 4.6(a), 7, 8, 9 and 10 shall
survive any expiration or termination of this Agreement (except that Sections
6.4-6.5 and 4.6(a) may subsequently terminate in accordance with the provisions
of Section 8.3(a)-(b)). Neither party shall be entitled to damages resulting
from the termination of this Agreement in accordance with this Section 9.
Subject to the provisions of Section 6, in no event shall either party be
precluded from developing for itself, or acquiring from third party(ies),
materials and services that are competitive with the materials and services
provided by the other party upon any expiration or termination of this
Agreement.

10.  General Provisions.

      10.1 Issue Resolution. In the event that any dispute arises relating to
this Agreement, the Representatives shall promptly meet and attempt to resolve
same through good faith discussions. If the Representatives are unable to
resolve any dispute to their mutual satisfaction within thirty (30) days after
they commence discussions regarding same, and do not agree to extend the time
for resolution of the issue at the end of their meeting, then they may by mutual
agreement: (a) escalate the matter to higher levels in their organizations and,
(b) if necessary, resort to a mutually agreed alternative dispute resolution
technique prior to resorting to litigation. In the event that the parties resort
to alternative dispute resolution or litigation to resolve any matter, the
successful or prevailing party shall be entitled to recover its reasonable
attorneys' fees and other costs incurred in connection with such action, suit or
proceeding, in addition to any other relief to which such party may be entitled.

                                       14
<PAGE>

      10.2 Governing Law. This Agreement shall be governed and construed in
accordance with the substantive laws of the Commonwealth of Massachusetts
without regard for any choice or conflict of laws rule or principle that would
result in the application of the substantive law of any other jurisdiction.

      10.4 Amendment and Waiver. No provision of or right under this Agreement
shall be deemed to have been waived by any act or acquiescence on the part of
either party, its agents or employees, but only by an instrument in writing
signed by an authorized officer of each party. No waiver by either party of any
breach of this Agreement by the other party shall be effective as to any other
breach, whether of the same or any other term or condition and whether occurring
before or after the date of such waiver.

      10.5 Independent Contractors. Each party represents that it is acting on
its own behalf as an independent contractor and is not acting as an agent for or
on behalf of any third party. This Agreement and the relations hereby
established by and between CHR and PEx do not constitute a partnership, joint
venture, franchise, agency or contract of employment. Neither party is granted,
and neither party shall exercise, the right or authority to assume or create any
obligation or responsibility on behalf of or in the name of the other party or
its Affiliates.

      10.6 Assignment. Neither party may assign its rights or obligations
hereunder without the prior written consent of the other party, which consent
shall not be unreasonably withheld; provided that the proposed assignee under
this Section 10.6 agrees in writing to assume all of the obligations of the
assignor party under this Agreement.

      10.7 Successors and Assigns. This Agreement shall bind and inure to the
benefit of the parties hereto and their respective successors and permitted
assigns.

      10.8 Notices. Unless otherwise provided herein, any notice, report,
payment or document to be given by one party to the other shall be in writing
and shall be deemed given when delivered personally or mailed by certified or
registered mail, postage prepaid (such mailed notice to be effective on the date
which is three (3) business days after the date of mailing), or sent by
nationally recognized overnight courier (such notice sent by courier to be
effective one business day after it is deposited with such courier), or sent by
telefax (such notice sent by telefax to be effective when sent, if confirmed by
certified or registered mail or overnight courier as aforesaid):

      If to PEx:
            PaperExchange.com, LLC
            545 Boylston Street, 8th Floor
            Boston, MA 02116
            Attn: Chief Executive Officer
            Phone: 617.536.4310
            Fax: 617.536.4097

      If to CHR:
            C.H. Robinson Worldwide, Inc.
            8100 Mitchell Road, Suite 200
            Eden Prairie, MN 55344-2248
            Attn: Corporate Vice President, Transportation
            Phone: 612.937.8500
            Fax: 612.937.7809

or to such other place as any party may designate as to itself by written notice
to the other party.

      10.9 Severability. In the event any provision of this Agreement shall for
any reason be held to be invalid, illegal or unenforceable in any respect, such
invalidity, illegality or unenforceability shall not affect any other term or
provision hereof. The parties agree that they will negotiate in good faith or
will permit a

                                       15
<PAGE>

court or arbitrator to replace any provision hereof so held invalid, illegal or
unenforceable with a valid provision which is as similar as possible in
substance to the invalid, illegal or unenforceable provision.

      10.10 Conflict or Inconsistency. In the event of any conflict or
inconsistency between the terms and conditions hereof and any terms or
conditions set forth in any purchase order or other document relating to the
transactions contemplated by this Agreement, the terms and conditions set forth
in this Agreement shall prevail.

      10.11 Captions. Captions of the sections and subsections of this Agreement
are for reference purposes only and do not constitute terms or conditions of
this Agreement and shall not limit or affect the meaning or construction of the
terms and conditions hereof.

      10.12 Word Meanings. Words such as herein, hereinafter, hereof and
hereunder refer to this Agreement as a whole and not merely to a section or
paragraph in which such words appear, unless the context otherwise requires. The
singular shall include the plural, and each masculine, feminine and neuter
reference shall include and refer also to the others, unless the context
otherwise requires.

      10.13 Entire Agreement. The terms and provisions contained in this
Agreement (including the Attachments) constitute the entire understanding of the
parties with respect to the transactions and matters contemplated hereby and
supersede all previous communications, representations, agreements and
understandings relating to the subject matter hereof. No representations,
inducements, promises or agreements, whether oral or otherwise, between the
parties not contained in this Agreement or incorporated by reference in this
Agreement shall be of any force or effect. No agreement or understanding
extending this Agreement or varying its terms (including any inconsistent terms
in any purchase order, acknowledgment or similar form) shall be binding upon
either party unless it is in a writing specifically referring to this Agreement
and signed by the duly authorized representative of the applicable party.

      10.14 Rules of Construction. The parties agree that they have participated
equally in the formation of this Agreement and that the language and terms of
this Agreement shall not be construed against either party by reason of the
extent to which such party or its professional advisors participated in the
preparation of this Agreement.

      10.15 Counterparts. This Agreement may be executed in multiple
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. In making proof of this
Agreement, it shall not be necessary to produce or account for more than one
such counterpart. A facsimile copy of this Agreement, including the signature
pages hereto, shall be deemed an original.

      10.16 Force Majeure. Except as otherwise provided in this Agreement, in
the event that a delay or failure of a party to comply with any obligation,
other than a payment obligation, created by this Agreement is caused by a Force
Majeure condition, that obligation shall be suspended during the continuance of
the Force Majeure condition.

      10.17 Further Assurances. Each party covenants and agrees that, subsequent
to the execution and delivery of this Agreement and without any additional
consideration, it will execute and deliver any further legal instruments and
perform any acts which are or may become reasonably necessary to effectuate the
purposes of this Agreement.

Both parties represent that they have read this Agreement, understand it, and
agree to be bound by the terms and conditions stated herein.

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
by their respective duly authorized officers, and have duly delivered and
executed this Agreement under seal as of the date first set forth above.

                                       16
<PAGE>

PAPEREXCHANGE.COM, LLC                C.H. ROBINSON WORLDWIDE, INC.

By: /s/ Rod A. Parsley                By: /s/ James Lanson
    ------------------                   -----------------
Name: Rod A. Parsley                  Name: James Lanson
     ---------------                       ---------------
Title: Vice President,                Title: VP of Transportation
       Business Development                 ---------------------
      ---------------------

Attachment A: Milestone Schedule
Attachment B: Final Specifications: [to be supplied]
Attachment C: CHR logo; PEx logo[to be supplied]
Attachment D: CHR Services Price List; Form of CHR Services Service Agreement
[to be supplied]

                                       17
<PAGE>

                                                               *Attachment A*

<TABLE>
<CAPTION>
                                     *Milestone Schedule*
<S>        <C>                          <C>                      <C>

                                        *****

</TABLE>

* Confidential Treatment Requested: material has been omitted and filed
  separately with the Commission.

                                       18<PAGE>

                                                                    Exhibit 10.4

                              CO-BRANDING AGREEMENT

This Co-Branding Agreement (this "Agreement") dated September 30, 1999 (the
"Effective Date") is entered into between VerticalNet, Inc., a Pennsylvania
corporation having a principal place of business at 700 Dresher Road, Suite 100,
Horsham, Pennsylvania, PA 19044 ("VerticalNet"), and PaperExchange.com, LLC, a
Delaware limited liability company having a principal place of business at 545
Boylston Street, 8th Floor, Boston, MA 02116 ("PaperExchange"). In consideration
of the mutual covenants herein, and intending to be legally bound hereby, the
parties agree as follows:

1. DEFINITIONS

      1.1. Affiliate shall mean, when used with reference to a party, any
individual or entity directly or indirectly controlling, controlled by or under
common control with such party. For purposes of this definition, "control" means
the direct or indirect ownership of at least 50% of the outstanding voting
securities of a party, or the right to control the policy decisions of such
party.

      1.2. Career Center Net Revenue shall have the meaning ascribed thereto in
Section 7.1.1.

      1.3. Co-Branded Career Center shall mean the "Career Center" portion of
Pulp and Paper Online located at:
http://www.pulpandpaperonline.com/Content/CareerCenter/Home/JobScan_Home.asp (or
a successor Site thereto).

      1.4. Co-Branded Equipment Listings shall mean the "Auctions" portion of
Pulp and Paper Online located at:
http://www2.pulpandpaperonline.com/content/auctions/home.asp (or a successor
Site thereto).

      1.5. Co-Branded Sites shall mean the Co-Branded Career Center and the
Co-Branded Equipment Listings.

      1.6. Co-Branded URLs shall mean the mutually agreed-upon URLs which shall
be registered jointly by VerticalNet and PaperExchange and shall route users
through to the Co-Branded Sites.

      1.7. Confidential Information shall mean all proprietary and confidential
information of a party, including, without limitation, trade secrets, technical
information, business information, sales information, customer and potential
customer lists and identities, product sales plans, sublicense agreements,
inventions, developments, discoveries, software, know-how, methods, techniques,
formulae, data, processes and other trade secrets and proprietary ideas, whether
or not protectable under patent, trademark, copyright or other areas of law,
that the other party has access to or receives, but does not include information
that (a) is or becomes publicly available through no fault of receiving party;
(b) was already known to the receiving party at the time it was disclosed to the
receiving party, as evidenced by written records of the receiving party; (c) is
independently developed by employees of the receiving party who had no knowledge
of or

* Confidential Treatment Requested: material has been omitted and filed
  separately with the Commission.

<PAGE>

access to such information, as evidenced by written records of the receiving
party; or (d) is received from a third party who is under no obligation of
confidentiality to the disclosing party.

      1.8. Equipment Listings Net Revenue shall have the meaning ascribed
thereto in Section 7.1.2.

      1.9. Initial Term shall mean the Effective Date through the day prior to
the fourth anniversary of the Effective Date, unless earlier terminated pursuant
to Section 8.

      1.10. Intellectual Property shall mean any and all trade secrets, patents,
copyrights, trademarks, URLs, trade dress, brand features, know-how and similar
rights of any type under the laws of any applicable governmental authority,
including, without limitation, all applications and registrations relating to
any of the foregoing.

      1.11. Intellectual Property Rights shall mean all rights in and to
Intellectual Property.

      1.12. Link shall mean a link (including, but not limited to, a hyperlink,
button or banner) that connects two Sites in a manner so that when a user clicks
on the link, the user is transferred directly from one Site to a second Site. A
"Link from Site A to Site B" indicates that Site A is the Site of origin and
Site B is the Site to which the user is linked.

      1.13. Net Advertising Revenue shall mean the gross amount billed to an
advertiser for the sale of advertising on the Third Party Advertising Allocation
on the PaperExchange Site, less (a) credits for claims, allowances, retroactive
price reductions or returned goods, and (b) sales, excise, use, value-added and
other similar taxes (excluding income taxes) actually paid, if applicable.

      1.14. Packaging Online shall mean the Site located at
www.packagingonline.com (or a successor Site thereto).

      1.15. PaperExchange Career Content shall have the meaning ascribed thereto
in Section 2.2.

      1.16. PaperExchange Competitor shall mean any exchange, auction or reverse
auction for the sale, purchase and/or exchange of pulp, paper and paper
packaging.

      1.17. PaperExchange Equipment Content shall have the meaning ascribed
thereto in Section 2.2.

      1.18. PaperExchange Deliverable shall mean any good, service or other item
to be delivered or made available by PaperExchange.

      1.19. PaperExchange Home Page shall mean the home page located at the
PaperExchange Site.

      1.20. PaperExchange Link shall mean a Link that contains a PaperExchange
Mark and will take users of other Sites to the PaperExchange Home Page.

                                       2
<PAGE>

      1.21. PaperExchange Mark shall mean any trademark, service mark, trade
name, domain name, design or logo of PaperExchange.

      1.22. PaperExchange Revenue shall mean the gross revenue received by
PaperExchange from Transaction Fees less (a) credits for claims, allowances,
retroactive price reductions or returned goods, and (b) sales, excise, use,
value-added and other similar taxes (excluding income taxes) actually paid.

      1.23. PaperExchange Site shall mean the Site located at
www.PaperExchange.com (or a successor Site thereto).

      1.24. Pulp and Paper Online shall mean the Site located at
www.pulpandpaperonline.com (or a successor Site thereto).

      1.25. Pulp and Paper Online Competitor shall mean any online vertical
community portal for professionals in the pulp and paper industry (other than
Pulp and Paper Online and PaperExchange).

      1.26. Renewal Term shall have the meaning ascribed thereto in Section 8.1.

      1.27. Site shall mean an Internet World Wide Web site.

      1.28. Storefront shall mean a Site contained in (and linked to) a
VerticalNet Site that, among other things, provides information regarding an
advertiser and the advertiser's products and/or services, links a visitor to the
advertiser's website, and/or generates sales leads for the advertiser from
interested visitors, but does not include direct e-commerce fulfillment, such as
catalog sales.

      1.29. Term shall mean the Initial Term and any Renewal Terms.

      1.30. Third Party Advertising Allocation shall have the meaning ascribed
thereto in Section 4.1.

      1.31. Transaction Fees shall mean the fees received by PaperExchange from
third parties in consideration for facilitating the purchase and/or sale of pulp
and/or paper through the PaperExchange Site.

      1.32. VerticalNet Archived Content shall have the meaning ascribed thereto
in Section 3.2.

      1.33. VerticalNet Content shall have the meaning ascribed thereto in
Section 3.1.

      1.34. VerticalNet Deliverable shall mean any good, service or other item
to be delivered or made available by VerticalNet.

      1.35. VerticalNet Link shall mean a Link that contains a VerticalNet Mark
and will take users of other Sites to a page of Pulp and Paper Online.

                                       3
<PAGE>

      1.36. VerticalNet Mark shall mean any trademark, service mark, trade name,
domain name, design or logo of VerticalNet.

2. CO-BRANDED CAREER CENTER AND CO-BRANDED EQUIPMENT LISTINGS

      2.1. No later than seven days after the Effective Date, VerticalNet shall,
at VerticalNet's sole cost and expense, design, develop and implement the
Co-Branded Sites with the overall "look and feel" agreed upon by VerticalNet and
PaperExchange, as shown in Exhibit A. After the Co-Branded Sites are
implemented, VerticalNet shall notify PaperExchange in writing at least five
days prior to making any material change to a Co-Branded Site, including,
without limitation, a change in the location, sizing or placement of the
PaperExchange Links. If PaperExchange does not notify VerticalNet of its
rejection of such change within five days, PaperExchange shall be deemed to have
approved such change. VerticalNet shall design, host and maintain the Co-Branded
Sites at its sole cost and expense. Within 30 days after the Effective Date,
VerticalNet and PaperExchange shall agree upon the Co-Branded URLs. The parties
shall register the Co-Branded URLs reasonably promptly after the parties have
agreed upon them.

      2.2. From time to time, PaperExchange shall provide to VerticalNet, at
PaperExchange's sole cost and expense, relevant content provided to it by third
parties consisting of (a) job listings for inclusion, at VerticalNet's
reasonable business discretion and at VerticalNet's then current listing rate,
in the Co-Branded Career Center or on any other VerticalNet Site except a Site
co-branded with a PaperExchange Competitor (the "PaperExchange Career Content")
and (b) equipment listings for inclusion, at VerticalNet's reasonable business
discretion and at VerticalNet's then current listing rate, in the Co-Branded
Equipment Listings or on any other VerticalNet Site except a Site co-branded
with a PaperExchange Competitor (the "PaperExchange Equipment Content", and
together with the PaperExchange Career Content, the "PaperExchange Content").
PaperExchange shall not provide such PaperExchange Content to VerticalNet until
the third party placing the listing has agreed to VerticalNet's then current
terms and conditions, subject to final approval by VerticalNet. PaperExchange
shall provide the PaperExchange Content in the form of the templates attached
hereto as Exhibits B and C. Any listings placed on the Co-Branded Sites (or
other VerticalNet Site as permitted in this Section 2.2) by a user that entered
the Co-Branded Site or permitted VerticalNet Site, as applicable, from a
PaperExchange Site or from a Link to Pulp and Paper Online jointly placed by
VerticalNet and PaperExchange, or placed solely by PaperExchange, on a third
party's Site shall be treated as "PaperExchange Content" for all purposes of
this Agreement. VerticalNet shall be responsible for, and shall have sole
control of, all credit, billing and collection in connection with the
PaperExchange Content. PaperExchange shall have no authority to make collections
on behalf of VerticalNet.

      2.3. PaperExchange hereby grants VerticalNet an exclusive license to use,
modify, enhance, reproduce, display, perform and transmit the PaperExchange
Content, subject to and in accordance with the terms, conditions and provisions
of this Agreement. VerticalNet shall not disclose, transfer or otherwise provide
the PaperExchange Content to any third party, including, but not limited to, any
PaperExchange Competitor, except as otherwise permitted under this Agreement.

                                       4
<PAGE>

      2.4. PaperExchange shall, at PaperExchange's sole cost and expense, place
Links on the PaperExchange Home Page labeled "Career Center" and "Equipment
Listings" (or mutually agreeable substitutes for such terms) in a mutually
agreeable location and size that will directly transfer users to the Co-Branded
Sites.

      2.5. VerticalNet, in its reasonable business discretion, shall market the
Co-Branded Sites on Pulp and Paper Online, at pulp and paper industry trade
shows, in its print advertisement campaigns and through its sales force. Such
marketing activities shall be at VerticalNet's sole cost and expense.

      2.6. PaperExchange, in its reasonable business discretion, shall market
the Co-Branded Sites on the PaperExchange Home Page, at pulp and paper industry
trade shows, in its print advertisement campaigns and through its sales force.
Such marketing activities shall be at PaperExchange's sole cost and expense.

      2.7. VerticalNet will provide, install, repair, maintain and pay for the
communications, computer and peripheral equipment, services and facilities
supporting the Co-Branded Sites. VerticalNet shall maintain the Co-Branded Sites
in a high quality and professional manner consistent with its maintenance of
other VerticalNet Sites. VerticalNet and PaperExchange shall be responsible for
the sale of all advertising on the Co-Branded Sites; provided, however, that
neither party shall sell advertising on the Co-Branded Sites to a competitor (as
defined in 1.16 and 1.25) and provided that each party shall submit any proposed
advertising for the Co-Branded Sites to the other party for its prior written
approval, such approval not to be unreasonably withheld, delayed or conditioned.

      2.8. VerticalNet shall be solely responsible for the development,
operation and maintenance of Pulp and Paper Online and for all materials that
appear on Pulp and Paper Online, except for the PaperExchange Content.

      2.9. PaperExchange shall be solely responsible for the development,
operation and maintenance of the PaperExchange Site and for all materials that
appear on the PaperExchange Site, except for the VerticalNet Content and the
VerticalNet Archived Content.

3. VERTICALNET CONTENT

      3.1. VerticalNet shall provide or make available to PaperExchange, for use
in accordance with the provisions of this Agreement, (a) the full text of all
original content (headlines, feature articles, columns and case studies) created
from time to time by the Managing Editor of Pulp and Paper Online, and (b) the
content created from time to time by guest columnists for Pulp and Paper Online,
to the extent such columnists have approved the provision of such content by
VerticalNet to PaperExchange. VerticalNet shall provide such content (the
"VerticalNet Content") to PaperExchange twice per week, in two "batches" of the
VerticalNet Content created or acquired since the last provision of VerticalNet
Content by VerticalNet to PaperExchange.

      3.2. VerticalNet hereby grants to PaperExchange a non-exclusive,
non-transferable license to use, reproduce, display and transmit the VerticalNet
Content, solely in connection with the development, maintenance and operation of
the PaperExchange Site, subject to and in accordance with the terms, conditions
and provisions of this Agreement. PaperExchange may

                                       5
<PAGE>

reproduce, display and transmit any VerticalNet Content for up to three weeks on
the PaperExchange Site, and after the expiration of such three week period
PaperExchange shall cease to reproduce, display and transmit such VerticalNet
Content and remove such VerticalNet Content from the PaperExchange Site.

      3.3. PaperExchange shall place a VerticalNet Link in a mutually agreeable
location and size on each page of the PaperExchange Site that contains all or a
portion of the VerticalNet Content.

      3.4. PaperExchange shall list on a mutually acceptable page of the
PaperExchange Site headlines and abstracts of the VerticalNet Content then
reproduced, displayed and transmitted on the PaperExchange Site. PaperExchange
shall place two VerticalNet Links in mutually agreeable locations and sizes on
such page of the PaperExchange Site, the first of which will take users to the
Buyer's Guide on Pulp and Paper Online, and the second of which will take users
to the Professional e-Bookstore on Pulp and Paper Online. VerticalNet and
PaperExchange shall mutually agree upon the method of implementing such links.

      3.5. PaperExchange shall not remove any titles or any trademark, copyright
or patent notices, or any proprietary or restricted rights notices that appear
on the VerticalNet Content and/or the VerticalNet Archived Content. All such
titles and notices must be reproduced on all permitted copies of the VerticalNet
Content and/or the VerticalNet Archived Content.

      3.6. During the Term, VerticalNet will not disclose, transfer or otherwise
provide the VerticalNet Content and/or the VerticalNet Archived Content to any
PaperExchange Competitor.

4. ADVERTISING

      4.1. Advertisements on the PaperExchange Site.

            4.1.1. During the Term, VerticalNet shall have the exclusive
right to arrange for the sale of ***** of the third party advertising
inventory (which shall consist of a minimum of one advertisement per page on
each of the "Co-Branded Equipment," "Co-Branded Careers," "Resources" and
"Home Page" sections or successor, replacement or substitute sections) of the
PaperExchange Site and shall be consistent with the amount of advertising on
other business to business vertical sites on the PaperExchange Site (the
"Third Party Advertising Allocation"). PaperExchange shall retain the right
to place advertisements for its own account on the remaining ***** of the
Third Party Advertising Allocation; provided, however, that if any portion of
such Third Party Advertising Allocation remains unsold 45 days after it
becomes available for advertising, VerticalNet shall have the exclusive right
to arrange for third party advertising on such unsold Third Party Advertising
Allocation.

            4.1.2. VerticalNet will use reasonable efforts to sell
advertisements on the PaperExchange Site. The advertising policies (including
rates and procedures) applicable to VerticalNet's sale of advertising for the
PaperExchange Site will be mutually agreed upon by VerticalNet and PaperExchange
(the "PaperExchange Advertising Policies"). Any changes to the agreed upon
PaperExchange Advertising Policies shall be mutually agreed upon by the parties.

* Confidential Treatment Requested: material has been omitted and filed
  separately with the Commission.

                                       6
<PAGE>

            4.1.3. VerticalNet shall provide notice to the Director of Online
Marketing of PaperExchange of each advertiser that agrees to place an
advertisement on a PaperExchange Site on the terms and conditions contained in
the then current PaperExchange Advertising Policies. PaperExchange shall then
have three business days after receipt of such notice to (a) accept or reject
such advertiser, in its reasonable business discretion, and (b) notify
VerticalNet of its decision. If, at the end of such three-day period,
PaperExchange has not responded to such notice, PaperExchange shall be deemed to
have accepted such advertiser. PaperExchange shall then work with the advertiser
to facilitate the Placement of the advertisement and maintain such advertisement
on the agreed-upon page of the PaperExchange Site. PaperExchange shall have the
right to terminate its agreement with any such advertiser in its reasonable
business discretion. To the extent an advertisement of equivalent size and
location appears on both Pulp and Paper Online and the PaperExchange Site, the
parties shall mutually agree upon the CPM, CPC or other use-based advertising
rates, which rate shall be identical for such advertisements. PaperExchange
shall be responsible for, and shall have sole control of, all credit, billing
and collection with the advertisements on the PaperExchange Site. VerticalNet
shall have no authority to make collections on behalf of PaperExchange.

      4.2. Sales Leads. PaperExchange will, in its sole discretion, request that
its Board of Directors and veteran industry sales force use reasonable efforts
to provide pulp and paper industry specific sales strategies and specific sales
leads to VerticalNet. Such strategies and leads shall include segments of the
industry that are currently lacking effective advertising solutions, and how
such industry participants could be marketed to by VerticalNet for the purposes
of this Section 4. VerticalNet may only use the information provided to them
pursuant to this Section 4.2 in connection with its performance under this
Section 4.

      4.3. Non-Competition.

            4.3.1. During the Term, VerticalNet shall not (a) act as an
advertising agent or representative for any PaperExchange Competitor and (b)
place any advertisements on Pulp and Paper Online from any PaperExchange
Competitor.

            4.3.2. During the Term, PaperExchange shall not place any
advertisements on the PaperExchange Site from any Pulp and Paper Online
Competitor.

5. CO-MARKETING ACTIVITIES

      5.1. Trade Shows and Conventions.

            5.1.1. During the Term, PaperExchange shall use commercially
reasonable efforts to expand its presence at major national and international
pulp and paper industry trade shows and conventions, including booth
exhibitions, attendance by industry veteran sales force from all the major paper
grades and industry panel sponsorships, when available. PaperExchange, in its
reasonable business discretion, shall actively engage in co-branded activities
with VerticalNet at PaperExchange's booth exhibitions and shall maintain an open
invitation policy for VerticalNet to send its own sales force to co-locate,
subject to Section 5.1.3, with PaperExchange at its trade show booths.

            5.1.2. VerticalNet, in its reasonable business discretion, shall
offer PaperExchange

                                       7
<PAGE>

exhibit booth space at pulp and paper industry trade shows that VerticalNet is
unable to use on the same terms that VerticalNet accepted for such space.

            5.1.3. When VerticalNet and PaperExchange are both attending pulp
and paper industry trade shows, VerticalNet and PaperExchange shall work
together to share costs of such trade shows and related material.

      5.2. Sales Force Visits. PaperExchange shall use commercially reasonable
efforts to (a) expand its sales force presence on a national and international
basis, in all major paper grades and (b) commit its sales force to promote Pulp
and Paper Online through "on-the-ground" activities including site visits to
mills, converters, printers and brokers.

      5.3. Advertising Campaigns.

            5.3.1. PaperExchange shall, in its reasonable business discretion,
promote the PaperExchange Site through print medium.

            5.3.2. VerticalNet shall, in its reasonable business discretion,
promote Pulp and Paper Online through print medium.

            5.3.3. VerticalNet and PaperExchange shall co-promote the
PaperExchange Home Page and Pulp and Paper Online in mutually agreeable
advertising and collateral marketing material. All co-promotion advertising
materials produced by or on behalf of either party (the "Originating Party")
shall be subject to the written approval of the other party (the "Receiving
Party"), which approval shall not to be unreasonably withheld, delayed or
conditioned. The Receiving Party shall notify the Originating Party of its
approval or disapproval of such advertising materials as soon as practicable,
but in any event within five business days after Receiving Party's receipt
thereof. Any failure of the Receiving Party to respond within such five business
day period shall be deemed disapproval of the advertising materials in question.

      5.4. Pulp and Paper Online Promotion. PaperExchange shall place the
VerticalNet Links in a mutually agreeable location and size on the PaperExchange
Site as soon as practicable and in no event more than 15 days after the
Effective Date. The VerticalNet Links shall remain on the PaperExchange Site
during the Term.

      5.5. PaperExchange Home Page Promotion. VerticalNet shall place the
PaperExchange Links on Pulp and Paper Online in a mutually agreeable location
and size as soon as practicable and in no event more than 15 days after the
Effective Date. The PaperExchange Links shall remain on Pulp and Paper Online
during the Term.

      5.6. Newsletter. VerticalNet shall include a PaperExchange Link in a
mutually agreeable location and size in the Pulp and Paper Online weekly online
newsletter sent to VerticalNet's newsletter database.

      5.7. Discussion Groups. VerticalNet, in its reasonable business
discretion, shall provide to PaperExchange co-sponsorship opportunities for
discussion groups and USENET forums.

      5.8. Non-Competition.

                                       8
<PAGE>

            5.8.1. During the Term and for a period of four years after the
termination of this Agreement, VerticalNet shall not, directly or indirectly, by
itself, through its Affiliates or through any type of joint venture or similar
affiliation with a third party, without prior written approval from
PaperExchange, buy, sell or trade (a) paper pulp products through exchanges,
auctions, or reverse auctions or any other e-commerce medium, (b) paper (other
than finished paper-based products, including, but not limited to, books, stamps
and labels) and copy paper (i) through exchanges, auctions or reverse auctions
or (ii) in quantities greater than one ton through any e-commerce medium, (c)
raw materials used to make paper packaging, including, but not limited to,
linerboard, medium, other containerboard grades and corrugated sheet through
exchanges, auctions, reverse auctions or any other e-commerce medium, or (d)
paper rolls and reels weighing more than 50 pounds used by printers through
exchanges, auctions, reverse auctions or any other e-commerce medium; provided,
however, that this Section 5.8.1 shall not apply to advertisements, Storefronts
or similar features on VerticalNet's Sites.

            5.8.2. During the Term, VerticalNet will not, directly or
indirectly, design, host, operate, maintain or otherwise participate in a
co-branded career center or a co-branded equipment listing Site with a
PaperExchange Competitor or license a VerticalNet Link for use or display on any
PaperExchange Competitor's Site.

            5.8.3. During the Term, PaperExchange will not, directly or
indirectly, design, host, operate, maintain or otherwise participate in a
co-branded career center or a co-branded equipment listing Site with a Pulp and
Paper Online Competitor or license a PaperExchange Link for use or display on
any Pulp and Paper Online Competitor's Site.

      5.9. Exchange.

            5.9.1. PaperExchange shall provide to VerticalNet an ID and a
password that will allow VerticalNet to access the "Exchange" portion of the
PaperExchange Site. PaperExchange shall provide reasonable training to
VerticalNet with respect to the creation, operation and marketing of such an
exchange.

            5.9.2. PaperExchange will place a VerticalNet Link in a mutually
agreeable location and size on the "Exchange" portion of the PaperExchange Site.

      5.10. Allocation of Resources. During the Term, each of PaperExchange and
VerticalNet agrees to dedicate reasonable financial, marketing and staffing
resources in order to actively promote the activities contemplated by this
Agreement and will use reasonable efforts to maintain the strategic alliance
described in this Agreement (and its focus on the pulp, paper and packaging
industry generally) as a high priority.

6. INTELLECTUAL PROPERTY

      6.1. Except as set forth in Sections 4.3.1 and 5.8, nothing in this
Agreement shall be construed as preventing VerticalNet from implementing
VerticalNet Links on any other Site.

      6.2. Except as set forth in Sections 4.3 or 5.8.3, nothing in this
Agreement shall be construed as preventing PaperExchange from implementing
PaperExchange Links on any other Site.

                                       9
<PAGE>

      6.3. VerticalNet hereby grants to PaperExchange a non-exclusive,
non-transferable, royalty-free, right and license to link to Pulp and Paper
Online through a VerticalNet Link. VerticalNet shall furnish PaperExchange with
a full color representation of each VerticalNet Link at least two days prior to
its scheduled placement on a page of the PaperExchange Site. If VerticalNet
subsequently modifies any VerticalNet Link or the URL associated with such
VerticalNet Link, it shall furnish a representation of same to PaperExchange,
which PaperExchange shall substitute for the prior version within two days after
receipt thereof. VerticalNet shall have final approval over all VerticalNet
Links on the PaperExchange Site.

      6.4. PaperExchange hereby grants VerticalNet a non-exclusive,
non-transferable, royalty-free, right and license to link to the PaperExchange
Site through a PaperExchange Link. PaperExchange shall furnish VerticalNet with
a full color representation of each PaperExchange Link at least two days prior
to its scheduled placement on Pulp and Paper Online. If PaperExchange
subsequently modifies any PaperExchange Link or the URL associated with such
PaperExchange Link, it shall furnish a representation of same to VerticalNet,
which VerticalNet shall substitute for the prior version within two days after
receipt thereof. PaperExchange shall have final approval over all PaperExchange
Links on Pulp and Paper Online.

      6.5. Except for the express rights granted to PaperExchange under this
Agreement, PaperExchange acknowledges and agrees that the Intellectual Property
of VerticalNet is and shall remain the sole property of VerticalNet and nothing
in this Agreement shall confer in PaperExchange any right of ownership or
license rights in VerticalNet's Intellectual Property. In addition,
PaperExchange shall not now or in the future contest the validity of
VerticalNet's Intellectual Property.

      6.6. Except for the express rights granted to VerticalNet under this
Agreement, VerticalNet acknowledges and agrees that the Intellectual Property of
PaperExchange is and shall remain the sole property of PaperExchange and nothing
in this Agreement shall confer in VerticalNet any right of ownership or license
rights in PaperExchange's Intellectual Property. In addition, VerticalNet shall
not now or in the future contest the validity of PaperExchange's Intellectual
Property.

      6.7. PaperExchange agrees to use the VerticalNet Marks in accordance with
the terms of this Agreement and with good trademark practices including, but not
limited to, protecting the value of the goodwill residing in such Intellectual
Property.

      6.8. VerticalNet agrees to use the PaperExchange Marks in accordance with
the terms of this Agreement and with good trademark practices including, but not
limited to, protecting the value of the goodwill residing in such Intellectual
Property.

      6.9. Except as set forth in Sections 4.3 and 5.8, nothing in this
Agreement shall be construed as preventing either party from developing other
co-branded versions of its materials, data, information and content.

                                       10
<PAGE>

7. COMMERCIAL TERMS

      7.1. Co-Branded Sites.

            7.1.1. Co-Branded Career Center. VerticalNet will pay PaperExchange
***** of the Career Center Net Revenue. ."Career Center Net Revenue" shall mean
the (a) listing fees related to the Co-Branded Career Center and any other
VerticalNet Site on which the listings are posted, (b) Co-Branded Career Center
e-commerce revenue and (c) other Co-Branded Career Center revenue, in each case
under the preceding clauses (a), (b) and (c), to the extent derived during the
Term from PaperExchange or the PaperExchange Content provided to VerticalNet by
PaperExchange pursuant to this Agreement, or as otherwise mutually agreed upon
by the parties, less (i) credits for claims, allowances, retroactive price
reductions or returned goods, and (ii) sales, excise, use, value-added and other
similar taxes (excluding income taxes) actually paid.

            7.1.2. Co-Branded Equipment Listings. VerticalNet will pay
PaperExchange ***** of the Equipment Listings Net Revenue. "Equipment Listings
Net Revenue" shall mean the (a) listing fees related to Co-Branded Equipment
Listings and any other VerticalNet Site on which the listings are posted, (b)
Co-Branded Equipment Listings e-commerce revenue and (c) other Co-Branded
Equipment Listings revenue, in each case under the preceding clauses (a), (b)
and (c), to the extent derived during the Term from PaperExchange or the
PaperExchange Content provided to VerticalNet by PaperExchange pursuant to this
Agreement, or as otherwise mutually agreed upon by the parties, less (i) credits
for claims, allowances, retroactive price reductions or returned goods, and (ii)
sales, excise, use, value-added and other similar taxes (excluding income taxes)
actually paid.

            7.1.3. Review of Payments. VerticalNet and PaperExchange will
conduct a good faith review of the payments generated under Sections 7.1.1 and
7.1.2 no later than six months after the Effective Date and may mutually agree,
subject to Section 13.6, to amend Sections 7.1.1 and/or 7.1.2 at that time. If
VerticalNet and PaperExchange are unable to reasonably agree on whether or how
to amend Section 7.1.2, either party shall have the right to immediately
terminate the rights and obligations of the parties under Sections 2 and 7.1.2
with respect to the Co-Branded Equipment Listings and PaperExchange Equipment
Content; provided, however, that all other rights and obligations under this
Agreement (including the rights and obligations of the parties under Sections
4.3 and 5.8) shall continue in full force and effect unless and until terminated
in accordance with Section 8. The parties understand and agree that termination
of the rights and obligations of the parties under Sections 2 and 7.1.2 in
accordance with this Section 7.1.3 shall not permit either party to terminate
this Agreement pursuant to Section 8.2.

            7.1.4. Professional e-Bookstore Sales. VerticalNet will pay
PaperExchange ***** of the gross sales of the Professional e-Bookstore on Pulp
and Paper Online that originated from the PaperExchange Site.

      7.2. Advertising Revenue.

            7.2.1. During the Term, VerticalNet shall not share any revenue
derived from advertisements hosted on Pulp and Paper Online or any other
VerticalNet Site with PaperExchange; provided, however, that if PaperExchange
brings VerticalNet a Qualified Lead

* Confidential Treatment Requested: material has been omitted and filed
  separately with the Commission

                                       11

<PAGE>

(as defined below) for a new customer that turns into a sale of advertising
on Pulp and Paper. Online or Packaging Online, including, without limitation,
the Co-Branded Sites, VerticalNet shall pay to PaperExchange a commission of
***** of the Net Advertising Revenue resulting from such sale of advertising,
with the exception that if such advertising is on the Co-branded Career
Center, VerticalNet shall pay PaperExchange a commission of ***** of the Net
Advertising Revenue resulting from such sale of advertising. As used in this
Section 7.2.1, a "Qualified Lead" shall mean a customer referred to
VerticalNet by PaperExchange that is not, at the time of referral, a customer
of VerticalNet, and which customer has agreed to place an advertisement on
Pulp and Paper Online or Packaging Online on the terms and conditions
contained in VerticalNet's then current advertising policies.

            7.2.2. PaperExchange shall pay to VerticalNet a commission of
***** of the Net Advertising Revenue received during the Term for
advertisements located on the Third Party Advertising Allocation of the
PaperExchange Site.

            7.2.3. If PaperExchange sells advertising to a third party on the
PaperExchange Site independently from VerticalNet, PaperExchange shall pay to
VerticalNet a commission of ***** of the Net Advertising Revenue resulting
from such advertising during the Term; provided, however, that if
PaperExchange previously rejected advertising by such party when proposed by
VerticalNet pursuant to Section 4.1, or terminated without cause a prior
agreement with such third party that had resulted from such a proposal by
VerticalNet, then PaperExchange shall pay ***** of the Net Advertising Revenue
resulting from such advertising during the Term to VerticalNet. PaperExchange
shall provide prompt notice to VerticalNet of each advertiser that has agreed
with PaperExchange to place an advertisement on a page of the PaperExchange
Site.

      7.3. Fees. In consideration of VerticalNet's agreement to enter into an
exclusivity and non-competition agreement herein, in conjunction with the other
obligations under this Agreement, PaperExchange shall make the following
payments to VerticalNet upon the earlier of (a) December 31, 1999 and (b) the
receipt by PaperExchange of an aggregate of ***** in additional funding:

            7.3.1. a ***** one-time, non-refundable fee in consideration of
the execution of this Agreement;

            7.3.2. a ***** one-time, non-refundable fee in consideration of
the design, development and implementation of the Co-Branded Career Center as
described in Section 2; and

            7.3.3. ***** in consideration of the design, development and
implementation of the Co-Branded Equipment Listings Site as described in Section
2.

      7.4. Revenue Sharing. After PaperExchange has generated PaperExchange
Revenue equal to *****, PaperExchange shall pay an amount equal to ***** of
the PaperExchange Revenue to VerticalNet; provided, however, that if, in any
given calendar year, VerticalNet receives ***** pursuant to this Section 7.4,
the percentage of PaperExchange Revenue that PaperExchange shall pay to
VerticalNet for the remainder of such calendar year shall be reduced to
*****; and provided further, however, that if, in any given calendar year,
VerticalNet receives

* Confidential Treatment Requested: material has been omitted and filed
  separately with the Commission.

                                       12

<PAGE>

***** in the aggregate pursuant to this Section 7.4, the percentage of
PaperExchange Revenue that PaperExchange shall pay to VerticalNet for the
remainder of such calendar year shall be reduced to *****.

      7.5. Payment Terms. Each party shall provide the other party with all
amounts due under this Agreement for the prior calendar quarter within 30 days
after the end of each calendar quarter during the Term. Each payment shall be
accompanied by a statement detailing the amount of applicable gross revenue
received, the calculation of the amount due to the other party and the amount of
the payment accompanying such statement. All payments due to either party
hereunder shall be made in immediately available U.S. funds, without set-off or
counterclaim, free and clear of (and without deduction for or grossed up for, as
applicable), any taxes, duties, charges, withholdings, restrictions or
conditions of any nature imposed or levied by any governmental taxing or other
authority.

      7.6. Taxes. All payments required under this Agreement are exclusive of
federal, state, local and foreign taxes, duties, tariffs, levies and similar
assessments. When applicable, such taxes shall appear as separate items on a
party's invoice or statement of the other party. Payment of such taxes or
charges shall be the responsibility of the party whose obligation it is under
this Agreement to make the payment in respect of which such taxes are assessed,
excluding any taxes based upon the other party's net income. In lieu thereof, a
party shall provide the other party with a tax or levy exemption certificate
acceptable to the taxing or levying authority.

      7.7. Audits. During the 18-month period following the payment by one party
of any amount due under this Agreement to the other party, the party receiving
payment (the "Auditing Party") shall have the right to have an independent third
party (the "Auditor") audit the financial records of the other party (the
"Audited Party") relating to such payment to verify the accuracy of the Audited
Party's financial records in order to verify the amount of the payments owed
and/or paid. The Auditing Party may cause the Auditor to perform such an audit
not more than once in any 12-month period, unless a prior audit within the past
two years revealed that the amount owed by the Audited Party to the Auditing
Party was underpaid in excess of 5% of the amount owed, in which case an audit
may be performed no more frequently than once in any three month period. If the
amount owed by the Audited Party to the Auditing Party was underpaid, the
Audited Party shall pay the additional amount owed and all accrued interest
thereon to the Auditing Party within 15 days of notice of such underpayment to
the Audited Party. If the amount owed by' the Audited Party to the Auditing
Party was underpaid in excess of 10% of the amount owed, the fees of such audit
shall also be paid to the Auditing Party within 15 days of notice of such to the
Audited Party. If the amount owed by the Audited Party to the Auditing Party was
overpaid, the Auditing Party shall return the excess amount paid to the Auditing
Party within 15 days of notice of such underpayment to the Auditing Party. The
Auditing Party shall give reasonable advance written notice to the Audited
Party, and each audit shall be conducted during normal business hours and in a
manner that does not cause unreasonable disruption to the conduct of business by
the Audited Party.

      7.8. Interest. All payments not paid by the date such payments are due
shall bear interest from the due date to the date payments are actually paid at
the rate of the lower of (a) 1% per month or (b) the maximum rate permitted by
law.

* Confidential Treatment Requested: material has been omitted and filed
  separately with the Commission.

                                       13

<PAGE>

8. TERM AND TERMINATION

      8.1. Automatic Renewal. This Agreement will automatically renew at the end
of the Initial Term or a subsequent renewal term on a year to year basis (each,
a "Renewal Term"), unless either party notifies the other at least 30 days prior
to the end of the Initial Term or then current Renewal Term, as applicable, of
its intention not to renew this Agreement.

      8.2. Termination for Cause. Either party may terminate this Agreement
immediately upon written notice to the other party in the event any material
breach of a material term of this Agreement by such other party that remains
uncured 30 days in the case of a breach of a payment obligation, or 45 days for
all other breaches, after notice of such breach was received by such other
party; provided, however that if such breach is not reasonably capable of cure
within the applicable cure period, the breaching party shall have an additional
180 days to cure such breach so long as the cure is commenced within the
applicable cure period and thereafter is diligently prosecuted to completion as
soon as possible.

      8.3. Upon Termination. Upon termination of this Agreement, (a) each
party's liability for any charges, payments or expenses due to the other party
that accrued prior to the date of termination shall not be extinguished by
termination, and such amounts (if not otherwise due on an earlier date) shall be
immediately due and payable on the termination date; (b) VerticalNet shall be
responsible for all charges, payments or expenses incurred by it in connection
with the removal of the PaperExchange Links from Co-Branded Sites and the
modification of the Co-Branded Sites, including, but not limited to, the removal
of PaperExchange Content; (c) PaperExchange shall be responsible for all
charges, payments or expenses incurred by it in connection with the removal of
the VerticalNet Links, VerticalNet Content and VerticalNet Archived Content from
the PaperExchange Site; (d) all rights of PaperExchange to use, display,
reproduce or publish the VerticalNet Marks shall immediately cease. (e) all
rights of PaperExchange to use, reproduce, display and transmit the VerticalNet
Content and VerticalNet Archived Content shall immediately cease and
PaperExchange shall destroy all copies of such content, (f) all rights of
VerticalNet to use, display, reproduce or publish the PaperExchange Marks shall
immediately cease, (g) all rights of VerticalNet to use, create derivative works
of, reproduce, display, perform and transmit the PaperExchange Content shall
immediately cease and VerticalNet shall, at PaperExchange's cost, return one
copy of the PaperExchange Content displayed on the Co-Branded Sites to
PaperExchange in electronic format and destroy all other copies of such content,
(h) all rights of VerticalNet to arrange for the sale of advertising on the
Third Party Advertising Allocation on the PaperExchange Site shall immediately
cease, (i) VerticalNet shall retain ownership of the URLs at which the
Co-Branded Sites are located, (I) the Co-Branded URLs shall be owned by the
party that offers to pay the highest amount to the other for the ownership of
such URLs upon payment of such amount to the other party (k) if the agreement is
terminated during the Initial Term by VerticalNet pursuant to Section 8.2, (x)
VerticalNet shall be released from its obligations under Section 5.8.1 and (y)
PaperExchange's obligations under Sections 7.2 and 7.4 shall be extended for one
year after the date of such termination, and (I) if the agreement is terminated
during the Initial Term by PaperExchange pursuant to Section 8.2, VerticalNet
shall pay to PaperExchange, as liquidated damages, an amount equal to the
product determined by multiplying (1) a fraction, the numerator of which shall
be the number of days between the effective date of termination and the
scheduled expiration date of the Initial Term, and the denominator of which
shall be the number of days

                                       14
<PAGE>

between the Effective Date and the scheduled expiration date of the Initial
Term, by (2) *****

9. DISPUTE RESOLUTION

      9.1. Negotiation and Escalation. If any controversy or claim arises
relating to this Agreement, the parties will attempt in good faith to negotiate
a solution to their differences, including progressively escalating any
controversy or claim through senior levels of management. If negotiation does
not result in a resolution within 30 days of when one party first notifies the
other of the controversy or claim, either party may resort to arbitration under
Section 9.2.

      9.2. Arbitration. Any controversy or claim between the parties concerning
any breach or alleged breach of this Agreement or performance or nonperformance
of any obligation under this Agreement which cannot be resolved by negotiation
will be resolved by binding arbitration under this Section 9.2 and the
then-current Commercial Rules and supervision of the American Arbitration
Association (the "AAA"). If any part of this Section 9.2 is held to be
unenforceable, it will be severed and will not affect either the duty to
arbitrate or any other part of this Section 9.2. The arbitration will be held in
New York, New York, before a sole disinterested arbitrator who is knowledgeable
in business information and the Internet and experienced in handling commercial
disputes. The arbitrator shall be appointed jointly by the parties hereto within
30 days following the date on which the arbitration is instituted. If the
parties are unable to agree upon the arbitrator within such 30-day period, the
AAA shall be instructed to select such arbitrator within 15 days thereafter. The
arbitrator's award will be final and binding and may be entered in any court
having jurisdiction. The arbitrator will not have the power to award punitive or
exemplary damages, or any damages excluded by, or in excess of, any damage
limitations expressed in this Agreement. Issues of arbitrability will be
determined in accordance solely with the federal substantive and procedural laws
relating to arbitration; in all other respects, the arbitrator will be obligated
to apply and follow the substantive law of the Commonwealth of Pennsylvania.

      9.3. Equitable Relief. Notwithstanding anything to the contrary in this
Agreement, in the event of an alleged violation of Article 10 of this Agreement
by either party, the party alleging such a violation may seek temporary
injunctive or other appropriate equitable relief from any court of competent
jurisdiction pending appointment of an arbitrator. The party requesting such
relief shall simultaneously file a demand for arbitration of the dispute, and
shall request that the American Arbitration Association proceed under its rules
for an expedited hearing.

      9.4. Costs. Unless the arbitrator, if any, determines otherwise, each
party will bear its own attorneys' fees and other costs associated with the
negotiation and arbitration provided for by this Article 9, except that costs
and expenses of the arbitrators shall be shared equally. If court proceedings to
stay litigation or compel arbitration are necessary, the party who
unsuccessfully opposes such proceedings will pay all associated costs, expenses
and attorneys' fees that are reasonably incurred by the other party.

* Confidential Treatment Requested: material has been omitted and filed
  separately with the Commission.

                                       15
<PAGE>

      9.5. Two Year Limitation. Except for claims under Sections 12.4 and 12.5
hereof, neither party may bring a claim or action regardless of form, arising
out of or related to this Agreement, including any claim of fraud or
misrepresentation, more than two years after the cause of action accrues or
becomes known, whichever is later.

      9.6. Confidentiality. In order to facilitate the resolution of
controversies or claims between the parties with respect to each party hereto,
such controversies or claims, including details regarding negotiations,
arbitration and settlement terms, shall be treated as Confidential Information
of the other party hereto in accordance with Article 10.

      9.7. Remedial Measures. In the event of (a) any material remediable breach
of this Agreement by the other party which remains uncured 30 days after notice
of such breach (other than a breach of a payment obligation) was received by the
other party or (b) any material breach which cannot be cured, the non-breaching
party may take reasonable remediable measures at the cost of the breaching party
without prejudice and in addition to any other rights arising from such breach.
In addition, the non-breaching party shall take reasonable steps to mitigate
damages arising out of such breach.

10. CONFIDENTIALITY

      10.1. Confidentiality Obligations. Except as permitted elsewhere under
this Agreement, each party agrees to take Reasonable Steps (as defined below)
(a) to receive and maintain the Confidential Information of the other party in
confidence, (b) not to disclose such Confidential Information to any third
parties and (c) to promptly notify the disclosing party upon learning of any
law, rule, regulation or court order that purports to compel disclosure of any
Confidential Information of the disclosing party and to reasonably cooperate
with the disclosing party in the exercise of the disclosing party's right to
protect the confidentiality of such Confidential Information. Neither party
hereto shall use all or any part of the Confidential Information of the other
party for any purpose other than to perform its obligations under this
Agreement. The parties will take Reasonable Steps (as defined below) to ensure
that their employees, representatives and agents comply with this provision. As
used herein, "Reasonable Steps" means at least the same degree of care that the
receiving party uses to protect its own Confidential Information, and, in no
event, no less than reasonable care.

      10.2. Exclusions. Nothing contained herein shall prevent a party from
disclosing Confidential Information pursuant to any applicable law, rule,
regulation or court order; provided, however, that such party complies with the
notice provisions of Section 10.1(c) to the extent permissible under applicable
laws, rules, regulations or court orders. Such disclosure shall not alter the
status of such information hereunder for all other purposes as Confidential
Information.

      10.3. Termination. Subject to Section 13.10, upon termination of this
Agreement, all Confidential Information shall be returned to the disclosing
party or destroyed unless otherwise specified or permitted elsewhere under this
Agreement. The confidentiality obligations contained in this Article 10 shall
survive termination of this Agreement for a period of three years.

                                       16
<PAGE>

      10.4. Injunction. Each party acknowledges and agrees that the provisions
of this Article 10 are reasonable and necessary to protect the other party's
interests in its Confidential Information, that any breach of the provisions of
this Article 10 may result in irreparable harm to such other party, and that the
remedy at law for such breach may be inadequate. Accordingly, in the event of
any breach or threatened breach of the provisions of this Article 10 by a party
hereto, the other party, in addition to any other relief available to it at law,
in equity or otherwise, shall be entitled to seek temporary and permanent
injunctive relief restraining the breaching party from engaging in and/or
continuing any conduct that would constitute a breach of this Article 10,
without the necessity of proving actual damages or posting a bond or other
security.

      10.5. Publicity. Except as may be required by applicable laws, rules or
regulations (including those arising under any securities laws), neither party
will originate any publicity, news release or other public announcement, written
or oral, whether to the public press or otherwise, concerning the relationship
between the parties or the transactions described in this Agreement without the
prior written consent of the other party, which consent shall not be
unreasonably withheld or delayed. In the event disclosure is required by
applicable law, rules or regulations, then the party required to so disclose
such information shall, to the extent possible, provide to the other party for
its approval (such approval not to be unreasonably withheld) a written copy of
such public announcement at least five business days prior to disclosure.
Notwithstanding the foregoing, either party shall have the right to make a press
release with respect to its entering into this Agreement; provided that such
party provides to the other party a copy of the proposed press release no less
than five business days prior to its proposed release and that the contents of
such press release shall be subject to the other party's consent, which consent
shall not be unreasonably delayed or withheld.

11. REPRESENTATIONS AND WARRANTIES. Each party hereby represents, covenants and
warrants to the other party that:

      11.1. It has the corporate power to enter into this Agreement and to grant
the rights and licenses granted herein and otherwise perform this Agreement;

      11.2. It is not a party to any agreement or understanding and knows of no
law or regulation that would prohibit it from entering into and performing this
Agreement or that would conflict with this Agreement; and

      11.3. When executed and delivered by it, this Agreement will constitute a
legal, valid and binding obligation of it, enforceable against it in accordance
with this Agreement's terms.

12. DISCLAIMER OF WARRANTY, LIMITATION OF LIABILITY AND INDEMNIFICATION.

      12.1. Disclaimer of Warranties. EXCEPT AS EXPRESSELY SET FORTH IN THIS
AGREEMENT, VERTICALNET HEREBY DISCLAIMS ALL WARRANTIES, EXPRESS, IMPLIED OR
STATUTORY, WITH RESPECT TO ANY AND ALL VERTICALNET DELIVERABLES, INCLUDING BUT
NOT LIMITED TO ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A
PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT.

                                       17
<PAGE>

      12.2. Disclaimer of Warranties. EXCEPT AS EXPRESSLY SET FORTH IN THIS
AGREEMENT, PAPEREXCHANGE HEREBY DISCLAIMS ALL WARRANTIES, EXPRESS, IMPLIED OR
STATUTORY, WITH RESPECT TO ANY AND ALL PAPEREXCHANGE DELIVERABLES, INCLUDING BUT
NOT LIMITED TO ANY IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A
PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT.

      12.3. Limitation of Liability. EXCEPT IN CONNECTION WITH A BREACH BY
EITHER PARTY OF ARTICLE 10, THE INDEMNIFICATION OBLIGATIONS OF PAPEREXCHANGE
UNDER SECTIONS 12.4(c) AND THE INDEMNIFICATION OBLIGATIONS OF VERTICALNET UNDER
SECTION 12.5(c), NEITHER PARTY WILL BE LIABLE FOR ANY SPECIAL, INDIRECT,
CONSEQUENTIAL, EXEMPLARY OR INCIDENTAL DAMAGES ARISING OUT OF OR RELATED TO THIS
AGREEMENT, HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY (INCLUDING
NEGLIGENCE), EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH
DAMAGES. EXCEPT IN CONNECTION WITH A BREACH BY EITHER PARTY OF ARTICLE 10, THE
INDEMNIFICATION OBLIGATIONS OF PAPEREXCHANGE UNDER SECTION 12.4(c) AND THE
INDEMNIFICATION OBLIGATIONS OF VERTICALNET UNDER SECTION 12.5(c), EACH PARTY'S
LIABILITY FOR DAMAGES HEREUNDER SHALL NOT EXCEED $1,000,000.

      12.4. Indemnification by PaperExchange. PaperExchange shall indemnify and
hold harmless VerticalNet and its officers, directors, employees and agents from
and against any and all losses, claims, damages, liabilities, obligations,
penalties, judgments, awards, costs, expenses and disbursements, including
without limitation, the costs, expenses and disbursements, as and when incurred,
of investigating, preparing or defending any action, suit, proceeding or
investigation asserted by a third party, caused by, relating to, based upon,
arising out of or in connection with (a) any breach by PaperExchange of the
representations, warranties or agreements made by it under this Agreement, (b)
negligence, recklessness or intentional misconduct on the part of PaperExchange
or its officers, directors, employees, agents or consultants, (c) any claim that
the PaperExchange Content infringes or misappropriates any Intellectual Property
Rights or any other right of any third party or (d) the promotion, advertisement
or marketing of the VerticalNet Content or VerticalNet Archived Content by or on
behalf of PaperExchange.

      12.5. Indemnification by VerticalNet. VerticalNet shall indemnify and hold
harmless PaperExchange and its officers, directors, employees and agents from
and against any and all losses, claims, damages, liabilities, obligations,
penalties, judgments, awards, costs, expenses and disbursements, including
without limitation, the costs, expenses and disbursements, as and when incurred,
of investigating, preparing or defending any action, suit, proceeding or
investigation asserted by a third party, caused by, relating to, based upon,
arising out of or in connection with (a) any breach by VerticalNet of the
representations, warranties or agreements made by it under this Agreement, (b)
negligence, recklessness or intentional misconduct on the part of VerticalNet or
its officers, directors, employees, agents or consultants, (c) any claim that
the VerticalNet Content infringes or misappropriates any Intellectual Property
Rights or any other right of any third party; or (d) the promotion,
advertisement or marketing of the PaperExchange Content by or on behalf of
VerticalNet.

                                       18
<PAGE>

      12.6. Each person seeking to be reimbursed, indemnified, defended and/or
held harmless under Sections 12.4 or 12.5 (each, an "Indemnitee") shall (a)
provide the party obliged to indemnify such Indemnitee with prompt written
notice of any claim, suit, demand or other action for which such Indemnitee
seeks to be reimbursed, indemnified, defended or held harmless (each, a
"Claim"), which notice shall include a reasonable identification of the alleged
facts giving rise to such Claim; (b) grant such party reasonable authority and
control over the defense and settlement of any such Claim; and (c) reasonably
cooperate with such party and its agents in defense of any such Claim. Each
Indemnitee shall have the right to participate in the defense of any Claim for
which such Indemnitee seeks to be reimbursed, indemnified, defended or held
harmless, by using attorneys of such Indemnitee's choice, at such Indemnitee's
expense. Any settlement of a Claim for which any Indemnitee seeks to be
reimbursed, indemnified, defended or held harmless under this Article shall be
subject to the prior written approval of such Indemnitee, such approval not to
be unreasonably withheld, conditioned or delayed.

      12.7. Essential Part of Bargain. The parties acknowledge that the
disclaimers and limitations set forth in this Article 12 are an essential
element of this Agreement between the parties and that the parties would not
have entered into this Agreement without such disclaimers and limitations.

13. MISCELLANEOUS

      13.1. Governing Law. This Agreement shall be governed by and interpreted
under the laws of the Commonwealth of Pennsylvania without regard to its
conflicts of law provisions. Subject to the provisions of Section 9, both
parties consent and submit to the exclusive personal jurisdiction of the United
States and the state courts of the Commonwealth of Pennsylvania in and for
Horsham, PA.

      13.2. No Assignment. Except as otherwise set forth herein, neither party
shall transfer, assign or cede any rights or delegate any obligations hereunder,
in whole or in part, whether voluntarily or by operation of law, without the
prior written consent of the other party, which consent may be withheld at the
other party's reasonable business discretion; provided, however, that either
party may transfer this Agreement without prior written consent of the other
party to an Affiliate or in connection with a merger or sale of all or
substantially all of the stock or assets of such party.

      13.3. Good Faith. The parties undertake to display to each other the
utmost good faith, consistent with their respective rights and obligations set
forth in this Agreement.

      13.4. Independent Contractors. In connection with this Agreement, each
party is an independent contractor. This Agreement does not, and shall not be
construed to, create an employer-employee, agency, joint venture or partnership
relationship between the parties. Neither party shall have any authority to act
for or to bind the other party in any way, to alter any of the terms or
conditions of any of the other party's standard forms of invoices, sales
agreements, warranties or otherwise, or to warrant or to execute agreements on
behalf of the other or to represent that it is in any way responsible for the
acts, debts, liabilities or omissions of the other party.

                                       19
<PAGE>

      13.5. Notices. All notices, reports, payments and other communications
required or permitted to be given under this Agreement (each, a "Notice") shall
be in writing and shall be given either by personal delivery against a signed
receipt, by express delivery using a nationally recognized overnight courier, or
by facsimile. All Notices shall be properly addressed as follows, or to such
other addresses as may be specified in a Notice given hereunder:

If to VerticalNet:                                 with a copy to:

Attn: General Counsel                              Michael J. Hagan
VerticalNet, Inc.                                  VerticalNet, Inc.
700 Dresher Road, Suite 100                        700 Dresher Road, Suite 100
Horsham, Pennsylvania 19044                        Horsham, Pennsylvania 19044
Fax No.: (215) 443-3336                            Fax No.: (215) 443-3336

If to PaperExchange:                               with a copy to:

Attn: Chief Executive Officer                      Attn: Jonathan K. Bernstein
PaperExchange.com, LLC                             Bingham Dana LLP
545 Boylston Street, 8th Floor                     150 Federal Street
Boston, MA 02116                                   Boston, MA 02110
Fax No.: (617) 536-4097                            Fax No.: (617) 951-8736

A Notice shall be deemed to be effective upon personal delivery or, if sent via
overnight delivery, upon receipt thereof. A Notice sent via facsimile is deemed
effective on the same day (or if such day is not a business day, then on the
next succeeding business day) if such facsimile is sent before 3:00 p.m.
Philadelphia time and on the next day (or if such day is not a business day,
then on the next succeeding business day) if such Notice is sent after 3:00 p.m.
Philadelphia time.

      13.6. Amendment or Modification. No subsequent amendment, modification or
waiver of any of the provisions of this Agreement shall be effective unless in
writing and signed by the parties.

      13.7. Entire Agreement. This Agreement sets out the entire agreement
between the parties with respect to the subject matter of this Agreement and
supersedes all prior agreements, proposals, arrangements and communications,
whether oral or written, with respect to the subject matter hereof, including,
but not limited to, the letter of intent between the parties dated July 23,
1999.

      13.8. Severability. If any provision of this Agreement is held by a
tribunal of competent jurisdiction to be illegal, invalid, or otherwise
unenforceable in any jurisdiction, then to the fullest extent permitted by law
(a) the same shall not effect the other terms or provisions of this Agreement,
(b) such term or provision shall be deemed modified to the extent necessary in
the tribunal's opinion to render such term or provision enforceable, and the
rights and obligations of the parties shall be construed and enforced
accordingly, preserving to the fullest extent the intent and agreements of the
parties set forth herein and (c) such finding of invalidity, illegality or

                                       20
<PAGE>

unenforceability shall not affect the validity, legality or enforceability of
such term or provision in any other jurisdiction.

      13.9. No Waiver. Failure to enforce any term of this Agreement is not a
waiver of future enforcement of that or any other term. No term or provision of
this Agreement will be deemed waived and no breach excused unless such waiver or
excuse is in writing and signed by the party against whom enforcement of such
waiver or excuse is sought.

      13.10. Survival. Sections 5.8.1 (subject to Section 8.3(k)), 6.1-6.2, 6.5,
6.6, 6.9, 7.5-7.8, 8, 9, 10, 11, 12 and 13, any payment obligations of the
parties hereunder accruing prior to the date of termination; and any other
provision herein expressly surviving termination or necessary to interpret the
rights and obligations of the parties in connection with the termination of the
term of this Agreement will survive the termination or expiration of this
Agreement.

      13.11. No Third Party Beneficiaries. Nothing in this Agreement is intended
to confer benefits, rights or remedies unto any person or entity other than the
parties and their permitted successors and assigns.

      13.12. Waiver of Jury Trial. Each party hereby irrevocably waives all
rights a party may have to a trial by jury in any legal action or proceeding
arising out of or in connection with this Agreement or the transactions
contemplated hereby.

      13.13. Titles. The headings appearing at the beginning of the Sections
contained in this Agreement have been inserted for identification and reference
purposes only and shall not be used to determine the construction or
interpretation of this Agreement. The nomenclature of the defined terms in this
Agreement shall only be used for the construction of this Agreement, and are not
to be used for any other purpose, including, but not limited to, interpretation
for accounting purposes.

      13.14. Force Majeure. Neither party shall be held to be in breach of this
Agreement by reason of a force majeure event, including, but not limited to, act
of God, delay in transportation, fire, flood, earthquake, storm, war, act of a
public enemy, civil commotion or any law, rule, regulation, order or other
action by any public authority or any other matter reasonably beyond a party's
control. To the extent failure to perform is caused by such a force majeure
event, such party shall be excused from performance hereunder so long as such
event continues to prevent such performance, and provided the non-performing
party takes all reasonable steps to resume full performance.

      13.15. Compliance with Laws. Each party shall comply with all prevailing
laws, rules and regulations and obtain all necessary approvals, consents and
permits required by the applicable agencies of the government of the
jurisdictions that apply to its activities or obligations under this Agreement.

      13.16. Execution in Counterparts, Facsimiles. This Agreement may be
executed in one or more counterparts, each of which shall be deemed an original
and all of which together shall constitute one and the same instrument. This
Agreement shall become binding when any one or more counterparts hereof,
individually or taken together, bear the signatures of both parties

                                       21
<PAGE>

hereto. For the purposes hereof, a facsimile copy of this Agreement, including
the signature pages hereto, shall be deemed an original.

            [The remainder of this page is intentionally left blank.]

                                       22
<PAGE>

IN WITNESS WHEREOF, the parties to the Agreement by their duly authorized
representative have executed this Agreement as of the date first written above.

VERTICALNET, INC.                           PAPEREXCHANGE.COM, LLC

By: /s/ [ILLEGIBLE]                         By: /s/ Jason Weiss
    ---------------------------------           --------------------------------
Title: BVI                                  Title: CEO
       ------------------------------              -----------------------------

VERTICALNET, INC.                           PAPEREXCHANGE.COM, LLC

By: /s/ [ILLEGIBLE]                         By: /s/ Rod A. Parsley
    ---------------------------------           --------------------------------
Title: V.P. E-Commerce Products Group       Title: Vice President Business Devel
       ------------------------------              -----------------------------

<PAGE>

                                   Exhibit A

Auction Home                                                         Page 1 of 2

[GRAPHIC OMITTED]

pulp and paper online PaperExchange.com

[GRAPHIC OMITTED]

REGISTER

Free Gift...
to first time Buyers and Sellers on Online Auction

Search: Buyer's Guide by Product/Service [GRAPHIC OMITTED] Go!

Home | Products | Careers | Marketplace | News/Analysis | Community | Resources
| About Us | Related Sites

Auctions

     Home

     Registration

     How to Start

     Buying
     My Auction Watch
     Buyer's Toolkit
     Buyer's Help
     Additional Industries

     Selling
     Seller's Toolkit
     Seller's Help

Books, Software,
Videos

Shopping

Also On This Site

Online Homepage

Product Center

Career Center

News & Analysis

Community

Resources

Site Information

Related Sites

--------------------------------------------------------------------------------
                                   Click Here

                              Highlights, Products
                                     & More
--------------------------------------------------------------------------------

                                     powdex

                          Incorporating InterFlow Expo

                          Oct. 27-28, 1999 Atlanta, GA
                              Cobb Galleria Centre

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

                                 LAB BLAST '99

                                Lab equipment at
                               Rock Bottom Prices

                                   CLICK HERE

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

[GRAPHIC OMITTED]

Online Auctions

Purchase and Liquidate New and Used Products

Find An Item

                Select a category below, or use Advanced Search.

                          |X| Auctions |_| Fixed Price

                           Analytical Instrumentation

                                   View Items

Welcome

Pulp & Paper Online and PaperExchange.com have partnered to become the leading
e-commerce solution for buying and selling new, surplus and used paper products
and equipment.

Sell an Item: Register Now as an Online Auctions seller and Sell an Item here.

Find an Item: Begin using the auction by selecting a category from the box above
or choose a Featured or New Item below. Or click here for an Advanced search

Customized Auction features

          Buyers Area                                  Sellers Area

       Choose One ...  Go!                          Choose One ...  Go!

*Hot items are from all industries          *Hot items are from all industries

First Time Users: Personalize your Online Auction experience and learn about our
                          Customized Auction Features.

Featured Item

Dynasty Tool Kit No. 9422
Item #: 500607

[GRAPHIC OMITTED]

Dynasty Tool Kit No. 9422. 120 tools. For the customer service engineer who
carries a full array of tools and spare parts during extended air travel. Molded
of tough linear polyethylene. Ribs for extra strength and rigidity. Rugged
aluminum valance. M

Price: $348
Auction Period: 5/11/99 - 6/10/99

Techne Thermal Cycler 0.5ML 117V
Item #: 500863

[GRAPHIC OMITTED]

Techne Gene E Thermal Cycler (for 0.5 mL tubes). Suitable for DNA sequencing,
gene manipulation, DNA hybridization, and other techniques. Uses a refrigerated
coolant for maximal cooling efficiency (cooling rates up to 2.7(degrees)C per
sec.). Operates from 10

Price: $1,000
Auction Period: 5/7/99 - 6/6/99
Dynasty Tool Kit No. 9422
Item #: 500607

[GRAPHIC OMITTED]

Dynasty Tool Kit No. 9422. 120 tools. For the customer service engineer
<PAGE>

                                  Exhibit A(2)

Auction Home                                                         Page 2 of 2

[GRAPHIC OMITTED]

engineer who carries a full array of tools and spare parts during extended air
travel. Molded of tough linear polyethylene. Ribs for extra strength and
rigidity. Rugged aluminum valance. M

Price: $348
Auction Period: 5/11/99 - 6/10/99
Leader LFC-944B Level Meter
Item #: 500608

[GRAPHIC OMITTED]

Leader LFC-944B Level Meter is a portable battery-operated field level meter
designed for testing and measuring the performance of CATV and MATV systems. It
provides for measuring levels of -40 to +60 dBmv on VHF channels and -30 to +40
dBmv on UHF c

Price: $220
Auction Period: 5/11/99 - 6/10/99

Find An Item

                Select a category below, or use Advanced Search.

                          |X| Auctions |_| Fixed Price

                           Analytical Instrumentation

                                   View Items

Send This Page To A Friend

Share The Knowledge

See something for a friend or associate? You can forward this page by just
Clicking Here!

Home | Help | Feedback | Advertising Info
VerticalNet | Disclaimer | TechSupport                       www.wateronline.com
<PAGE>

                                  Exhibit A(3)

Online Jobscan                                                       Page 1 of 2

[GRAPHIC OMITTED]

pulp and paper online PaperExchange.com

[GRAPHIC OMITTED]

shop & compare

For the Best Prices on the Web

Search: Buyer's Guide by Product/Service [GRAPHIC OMITTED] Go!

Home | Products | Careers | Marketplace | News/Analysis | Community | Resources
| About Us | Related Sites

Career Center [GRAPHIC OMITTED] Online Jobscan

Online Jobscan

   Job Search

   Post Resume

   Update Resume

   New Jobs Area

   Employer Spotlight

Career Resources

Salary Survey

Recruiter Center

Also On This Site

Product Center

Career Center

News & Analysis

Community

Resources

Site Information

Related Sites

--------------------------------------------------------------------------------
                                   Click Here

                              Highlights, Products
                                     & More
--------------------------------------------------------------------------------

                                     powdex

                          Incorporating InterFlow Expo

                          Oct. 27-28, 1999 Atlanta, GA
                              Cobb Galleria Centre

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

                                 LAB BLAST '99

                                Lab equipment at
                               Rock Bottom Prices

                                   CLICK HERE

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

[GRAPHIC OMITTED]

Online Jobscan

[GRAPHIC OMITTED]

Online JobCenter

Job Search
Post/Update Resumes
Employer Spotlights

Use this page to search for job openings, and view the most recent Open House
announcements from businesses within the industry

Job Search

Pulp & Paper Online and PaperExchange.com have combined resources to provide you
with the most comprehensive source for careers in the pulp and paper industry.

Search for a position by making selections from the below drop down menus. The
more selections you make the more fined tuned the results. For the broadest
results, use the menu defaults.

Multiple categories can be chosen within menus by holding down the "Shift" key
when making selections.

Select Keywords
Separate keywords using AND, OR, or 'a phrase in quotes'

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

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

Type Company Name
(Full or Partial)

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

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

|_| Full Time            |_| Part Time

|_| Contract             |_| Permanent

Location
Choose the State, Region or Country to include in your search

State                                 Region

All                                   All
Alabama                               Alaska/Hawaii
Alaska                                Mid-Atlantic - U.S.
Arizona                               North Central - U.S.

Country

United States
Antigua and Arbuda
Antarctica
Argentina

Position

All Job Types
Aerospace Engineer
Biological Scientist
Biologist

Jobscan Sponsors

--------------------------------------------------------------------------------
                                   Click Here

                              Highlights, Products
                                     & More
--------------------------------------------------------------------------------

                                     powdex

                          Incorporating InterFlow Expo

                          Oct. 27-28, 1999 Atlanta, GA
                              Cobb Galleria Centre

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

                                 LAB BLAST '99

                                Lab equipment at
                               Rock Bottom Prices

                                   CLICK HERE

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

Durlano Pumps embrace new valve technology for greater efficiency...

CHEMPRO introduces new treatment for water purification...
<PAGE>

                                  Exhibit A(4)

Online Jobscan                                                       Page 2 of 2

Duties

All Job Functions
Academia
Choose One
Consulting

Scan Jobs                Reset

Open House Announcements

Virtual Company Tours

In an effort to better inform the job seeker and satisfy the needs for industry
recruiting of premium positions, Water Online provides Online Open House. These
pages represent a virtual open house for each of the participating companies
that are actively seeking new recruites. Below is a list of the most recent Open
House pages.

- Chromatography Ltd. Santa Monica CA

- Mass Spectral Interpretator Austin TX

- Contemporary Wastewater and Design Phoenix AZ

- Mass Spectral Incorporated Chicago IL

- Activated Carbon Inc. Bethesda MD

More...

Send This Page To A Friend

Share The Knowledge
See something for a friend or associate? You can forward this page by just
Clicking Here!

Home | Help | Feedback | Advertising Info
VerticalNet | Disclaimer | TechSupport                       www.wateronline.com
<PAGE>

                                                                       Exhibit B

                     CAREER CENTER REQUEST FORM

Please take the time to fill out this form so that we may collect the
information needed to process your Career Center Request. Please note that text
of any length may be typed or pasted into the fields below.

Billing Information (Will not be displayed online unless it is the same as
Employer Information, below.)

      Company Name:

      Address:

      Address 2:

      City:

      State:

      Zip:

      Country:

      Foreign Address:

      Phone:                         Extension:

      Fax:

      e-mail:

      Website Address (URL):

      Contact Name:

Employer Information (Please enter all information as it should appear online.)

      |_| Check here if same as above.

      Company Name:

      Address:

      Address 2:

      City:

      State:

      Zip:

<PAGE>

      Country:

      Foreign Address:

      Phone:                         Extension:

      Fax:

      e-mail:

      Division Name:

      Number of Employees:

      Company Job Website (URL):

      Contact Person / Department:

      Job Code/Requisition Number:

      How do you wish to be contacted?

      |_| e-mail |_| Fax |_| Phone |_| Regular Mail

Job Information (Please enter all information as it should appear online.)

      Job Title:

      Job Location:

          City:          State:

              or

                US Region:           Select Region

                Country:

      Type of Position:   Full Time    Permanent

      Required Skills:

      Brief Job Description:

      Salary Range:

      Additional Compensation:

      Full Job Description:

<PAGE>

Exhibit C

A Microsoft Excel Spreadsheet containing the following columns:

<TABLE>
<S>      <C>         <C>          <C>          <C>                     <C>         <C>
-----------------------------------------------------------------------------------------------
Name*    Category*   Mfg/Brand    Model #      Original Item Price     Height      Weight
-----------------------------------------------------------------------------------------------
NAME     CATG        FLDA         FLDB         FLDC                    FLDD        FLDE
-----------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<S>              <C>               <C>               <C>               <C>         <C>
-----------------------------------------------------------------------------------------------
Starting Bid*    Reserve Price     Bid Increments    Start date/time   Duration*   Item #
-----------------------------------------------------------------------------------------------
MINB             RSRV              INCR              STRT              DAYE        FLD1
-----------------------------------------------------------------------------------------------
                 default is $5.00  default is today  default is 7
                 --------------------------------------------------
</TABLE>

--------------------------------------------------------------------
Approx. Age   SKU    Description      Seller ID#   Image Location
--------------------------------------------------------------------
FLD2          FLDF   DESC             SELL         IMAG
--------------------------------------------------------------------

---------------------------------------------
                Sales
Location**      Person**        Capacity**
---------------------------------------------
  To Be          To Be             To Be
Determined     Determined       Determined
---------------------------------------------

<PAGE>

This page describes each of the fields used in the Excel spreadsheet for bulk
uploads. Please put details in the spreadsheet named Bulk Upload Spreadsheet. It
is very important that you do not change the field names or their order on the
spreadsheet.

--------------------------------------------------------------------------------
  Name*               The title by which you want the item called. i.e.
                      Sartorius Microbalance. This field is 60 characters long
                      but more details will fit in the description section. The
                      name needs to be descriptive and distinct. There cannot be
                      two items with the same name. Add a delineating feature
                      such as model number or size to the name.
--------------------------------------------------------------------------------
Category*             This field requires a number not word. See the enclosed
                      list. If you do not find a category that fits your
                      product, please contact us. We can add categories.
--------------------------------------------------------------------------------
Mfg/Brand             Manufacturer or brand name
--------------------------------------------------------------------------------
Model #               Model number
--------------------------------------------------------------------------------
Original Item         If known, this can be an incentive to buyers who then see
price                 your lower price.
--------------------------------------------------------------------------------
Height                Include feet or inches.
--------------------------------------------------------------------------------
Weight                Include pounds or ounces.
--------------------------------------------------------------------------------
Quantity*             This field requires only a number not each, case, etc.
--------------------------------------------------------------------------------
Starting Bid*         This is the amount at which the bidding will start. It
                      should be lower than your reserve price, if you set one.
                      Please use whole dollars.
--------------------------------------------------------------------------------
Reserve Price         This is the amount you wish to receive for your product.
                      If you set a reserve price, your item cannot be sold for
                      less than the reserve. Please use whole dollars.
--------------------------------------------------------------------------------
Bid Increments*       $5 is the default, but feel free to change this to reflect
                      your product's price using whole dollars.
--------------------------------------------------------------------------------
Start date/time*      This field must be filled out like the following example:
                      04/08/99 15:00 (MM/DD/YY 24:mm) A start time must be
                      included.
--------------------------------------------------------------------------------
Duration*             The default for this field is 7 days. The options are 1,
                      3, 5, 7, 21, and 30.
--------------------------------------------------------------------------------
Item #                Catalog number if the product came from a manufacturer's
                      or distributor's catalog
--------------------------------------------------------------------------------
Approx. Age           New, used, demo, reconditioned
--------------------------------------------------------------------------------
SKU                   Each, box, case
--------------------------------------------------------------------------------
Description           This field is only 1250 characters long. Use basic writing
                      format here. Complete sentences are desired rather than a
                      list of features. If you copy and paste from an outside
                      source, please check to see that there are no tabs or
                      returns in the paragraph.
--------------------------------------------------------------------------------
Seller ID#*           This is your six-digit ID number you received when you
                      registered.
--------------------------------------------------------------------------------
Image location        A picture of your item is very helpful in selling your
                      item and will greatly enhance its listing appearance. The
                      picture needs to be in JPEG or GIF format. You can send
                      these on a separate disk or email if desired. Please
                      enclose a list delineating which picture goes with which
                      item.
--------------------------------------------------------------------------------
Location              Where the equipment is currently located/resides.
--------------------------------------------------------------------------------
Sales Person          For PaperExchange.com internal tracking.
--------------------------------------------------------------------------------
Capacity              Specific information about the equipment i.e. "x"
                      gallons/hr, "y" sheets/minute, etc.
--------------------------------------------------------------------------------
                      *  indicates required fields
                      ** indicates fields with fieldnames to be determined and
                      whose position within the columns is to be determined

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00004-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00004-of-00352.parquet"}]]