Document:

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                                                                   EXHIBIT 10.29

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR CERTAIN REDACTED PROVISIONS OF
THIS AGREEMENT. THE REDACTED PROVISIONS ARE IDENTIFIED BY THREE ASTERISKS
ENCLOSED BY BRACKETS AND UNDERLINED. THE CONFIDENTIAL PORTION HAS BEEN FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

MASTER SERVICES AGREEMENT

Agreement Number: 23191-001-001

Agreement Date:  November 21, 2000

Initial Agreement Expiration Date:  [***]*

Service Provider Name:  EXULT, INC.

Service Provider Address:  4 Park Plaza, Suite 1000, Irvine CA 92614

Service Provider Telephone:  949-250-8002

This MASTER SERVICES AGREEMENT, consisting of the Core Terms and the Schedules
listed on the following table of schedules (this "Agreement"), is by and between
Exult, Inc. ("Service Provider") and Bank of America Corporation ("Customer").

WHEREAS, Customer has engaged Service Provider to provide human resources
services and accounts payable services and associated processes pursuant to this
Agreement, and Service Provider has agreed to provide such services and
processes in accordance with the terms of this Agreement for an initial term of
10 years; and

WHEREAS, the purpose of this Agreement is to establish the general terms and
conditions applicable to Service Provider's provision of such services and
processes to Customer and Customer's receipt and use of and payment for such
services and processes.

NOW, THEREFORE, for and in consideration of the agreements set forth herein,
Service Provider and Customer hereby agree to enter into this Agreement and to
be bound by the terms and conditions set forth herein.

EXULT, INC.                                      BANK OF AMERICA CORPORATION
("SERVICE PROVIDER")                            ("CUSTOMER")

By:                                              By:
   ---------------------------------                 ---------------------------
Name:                                            Name:
     -------------------------------                   -------------------------
Title:                                           Title:
      ------------------------------                   -------------------------
Date: November 21, 2000                          Date: November 21, 2000

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* Confidential information has been omitted.

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                                TABLE OF CONTENTS

SECTION                                                                  PAGE
  NO.                            SECTION HEADING                          NO.
-------                          ---------------                        ------

1.0   DEFINITIONS; INTERPRETATION..........................................4
2.0   TERM OF AGREEMENT AND RENEWALS......................................10
3.0   TERMINATION.........................................................11
4.0   SCOPE OF AGREEMENT; CUSTOMER SERVICES...............................15
5.0   PRICING, FEES AND RELATED MATTERS...................................18
6.0   CONTRACT ADMINISTRATION.............................................20
7.0   SERVICE LEVELS......................................................21
8.0   CHANGES IN THE CUSTOMER SERVICES....................................22
9.0   TRANSITION PLAN.....................................................23
10.0  NEW SERVICES........................................................24
11.0  RESPONSIBILITIES OF THE PARTIES.....................................24
12.0  SOFTWARE AND PROPRIETARY RIGHTS.....................................25
13.0  MUTUAL REPRESENTATIONS AND WARRANTIES; DISCLAIMERS..................28
14.0  LAWS AND REGULATIONS................................................30
15.0  DATA AND REPORTS....................................................30
16.0  CONFIDENTIALITY AND SECURITY........................................31
17.0  AUDITS..............................................................33
18.0  DISPUTE RESOLUTION..................................................35
19.0  INDEMNITIES.........................................................36
20.0  DAMAGES.............................................................38
21.0  INSURANCE AND FINANCIAL ABILITY.....................................39
22.0  MISCELLANEOUS PROVISIONS............................................40

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                               TABLE OF SCHEDULES

Schedule A  Description of Customer Services
Schedule B  Service Levels
Schedule C  Fees and Charges
Schedule D  Assigned Agreements and Managed Agreements
Schedule E  Service Provider Software and Service Provider Tools
Schedule F  Customer Software and Customer Tools
Schedule G  Transition Plan
Schedule H  In-Flight Projects
Schedule I  Customer Associates
Schedule J  Human Resources Provisions
Schedule K  Change Control Management
Schedule L  Customer Machines
Schedule M  Form of Confidentiality Agreement
Schedule N  Key Positions
Schedule O  N/A
Schedule P  N/A
Schedule Q  N/A
Schedule R  Customer Reports
Schedule S  N/A
Schedule T  Termination Assistance Services
Schedule U  Customer Service Locations
Schedule V  N/A
Schedule W  N/A
Schedule X  N/A
Schedule Y  N/A
Schedule Z  N/A

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DEFINITIONS; INTERPRETATION:

1.1   Definitions: All defined terms in this Agreement not otherwise defined in
      this Section 1.1 shall have the meanings assigned in the part of this
      Agreement where they are defined.

      1.1.1    Adjustment Period - shall have the meaning set forth in Section
               5.10.

      1.1.2    Agreement - shall have the meaning set forth on the signature
               page.

      1.1.3    Agreement Date - shall have the meaning set forth on the
               signature page.

      1.1.4    Approved Auditors - shall have the meaning set forth in Section
               17.2.1.

      1.1.5    Approved Service Provider - shall have the meaning set forth in
               Section 12.4.2(b).

      1.1.6    Assigned Agreements - shall have the meaning set forth in Section
               6.1.

      1.1.7    Assumptions - shall have the meaning set forth in Section 5.10.

      1.1.8    Bankruptcy Code - shall have the meaning set forth in Section
               3.3.1(b).

      1.1.9    Baseline Charges - shall have the meaning set forth in Schedule
               C.

      1.1.10   Baseline Volumes - shall have the meaning set forth in Schedule
               C.

      1.1.11   Call Center Conversion - shall mean the conversion of Customer's
               call center processes as described in the Transition Plan set
               forth in Schedule G and, as of the Agreement Date, scheduled for
               [***]*.

      1.1.12   Change - shall have the meaning set forth in Section 8.1.1.

      1.1.13   Change Control Management - shall mean the written description of
               how Changes or other modifications to the terms and conditions of
               this Agreement shall be implemented under this Agreement as set
               forth in Schedule K.

      1.1.14   Change of Control - shall have the meaning set forth in Section
               3.2.4(b).

      1.1.15   Change Order - shall mean a document agreed upon by the Parties
               (a) implementing a Change or other modification to this Agreement
               or (b) adding a New Service.

      1.1.16   Client Executives - shall mean, collectively, the Customer Client
               Executive and the Service Provider Client Executive.

      1.1.17   Client Service Centers - shall mean Service Provider's locations
               from which Customer Services are provided.

      1.1.18   Confidential Information - shall mean, with respect to each
               Party, all of such Party's technology, know-how, data and/or
               other information relating to such Party's current and/or
               proposed business, Customer Information, research, products,
               services, compilations, techniques, development efforts,
               inventions, processes, designs, drawings, marketing or finances,
               whether disclosed in written or other tangible form, orally or
               visually, and in the case of nontangible information, provided
               such information transmitted verbally or visually by one Party to
               the other is either readily ascertainable as confidential by its
               nature or presentation or is identified as confidential at the
               time of disclosure.

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* Confidential information has been omitted.

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      1.1.19   Consents - shall mean all use licenses, consents, authorizations
               and approvals that are necessary to (a) allow Service Provider
               and Service Provider Representatives to (1) use Customer's owned,
               licensed and leased assets, including the Customer Software,
               Customer Tools and Customer Machines and (2) manage and
               administer the Managed Agreements on Customer's behalf and (b)
               allow Customer to assign the Assigned Agreements to Service
               Provider.

      1.1.20   Control - shall mean, with respect to any entity, the possession,
               directly or indirectly, of the power to direct or cause the
               direction of the management and policies of such entity, whether
               through the ownership of voting securities (or other ownership
               interest), by contract or otherwise.

      1.1.21   Core Terms - shall have the meaning set forth in Section 1.2.3.

      1.1.22   Customer - shall mean Bank of America Corporation, a Delaware
               corporation, having its principal place of business at 100 North
               Tryon Street, Charlotte, North Carolina 28255.

      1.1.23   Customer Affiliate - shall mean any entity that, directly or
               indirectly, Controls, is Controlled by or is under common Control
               with Customer.

      1.1.24   Customer Associate Group - shall mean Customer Associates and any
               other person directly or indirectly receiving the benefit of
               Customer Services, including annuitants, retirees, former
               Customer Associates and other persons that receive the benefit of
               Customer Services through or on behalf of any such persons.

      1.1.25   Customer Associates - shall mean the employees of Customer or
               employees of Customer Affiliates.

      1.1.26   Customer Client Executive - shall have the meaning set forth in
               Section 11.1.

      1.1.27   Customer Data - shall have the meaning set forth in Section 15.1.

      1.1.28   Customer Information - shall mean, with respect to each Party,
               information about such Party's customers and their accounts.

      1.1.29   Customer Machines - shall mean the Machines owned or leased by
               Customer that are listed in Schedule L, as may be modified by
               agreement of the Parties from time to time during the Term.

      1.1.30   Customer Network - shall mean Customer's internal computing
               network.

      1.1.31   Customer Proprietary Software - shall mean (a) the Software
               (including modifications and derivatives thereof developed under
               this Agreement) owned by Customer and used in connection with the
               Customer Services and that is listed in Schedule F, as such
               Schedule may be modified by agreement of the Parties from time to
               time during the Term, and (b) any New Intellectual Property that
               is owned by Customer in accordance with the provisions of Section
               12.3 of this Agreement.

      1.1.32   Customer Representatives - shall mean the Customer Affiliates and
               the Subcontractors, designated suppliers and designated agents of
               Customer and Customer Affiliates, excluding Service Provider.

      1.1.33   Customer's Banking Regulatory Requirements - shall mean any Laws
               or regulations aimed at financial institutions or the financial
               industry, securities or the securities industry, brokers and
               dealers, the insurance industry or any other industry with
               respect to which Customer or Customer Affiliates now or in the
               future provides or offers to provide goods or services, excluding
               any portions thereof to the extent aimed at the Customer
               Services.

      1.1.34   Customer's Record Retention Policy - shall mean Customer's record
               retention policy as in effect and as revised from time to time
               and provided to Service Provider.

      1.1.35   Customer Service Locations - shall mean the service locations set
               forth in Schedule U.

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      1.1.36   Customer Services - shall mean the Services and Processes
               described in Schedule A, and any references in the Schedules to
               Services shall mean the Customer Services.

      1.1.37   Customer Software - shall mean the Customer Proprietary Software
               and the Customer Third Party Software, collectively.

      1.1.38   Customer Third Party Software - shall mean the Software licensed
               or leased by Customer from a third party (including modifications
               and derivatives thereof provided by such third party) that is
               used in connection with the Customer Services and listed in
               Schedule F, as such Schedule may be modified by agreement of the
               Parties from time to time during the Term.

      1.1.39   Customer Tools - shall mean (a) any and all ideas, concepts,
               know-how, development tools, methodologies, processes,
               procedures, technologies or algorithms that are based upon trade
               secrets or proprietary information of Customer and used in
               connection with the Customer Services and listed on Schedule F in
               accordance with Section 5.10, as such Schedule may be modified by
               agreement of the Parties from time to time during the Term, and
               (b) any New Tools that are owned by Customer in accordance with
               the provisions of Section 12.3 of this Agreement.

      1.1.40   Direct Damages Cap - shall have the meaning set forth in Section
               20.1.2.

      1.1.41   Dispute Notice - shall have the meaning set forth in Section
               18.1.

      1.1.42   ECI - shall mean the Employee Cost Index.

      1.1.43   Existing DRPs - shall have the meaning set forth in Section
               4.7.1.

      1.1.44   Fees - shall mean the fees paid by Customer to Service Provider
               as set forth in Schedule C.

      1.1.45   Fees at Risk - shall have the meaning set forth in Schedule C.

      1.1.46   Force Majeure Event - shall have the meaning set forth in Section
               22.8.

      1.1.47   FTEs - shall have the meaning set forth in Schedule C.

      1.1.48   Governmental Authority - shall mean any international, national,
               state, provincial, municipal, local, territorial or other
               governmental department, regulatory authority, judicial or
               administrative body, domestic, international or foreign.

      1.1.49   Indemnified Party - shall have the meaning set forth in Section
               19.4.

      1.1.50   Indemnifying Party - shall have the meaning set forth in Section
               19.4.

      1.1.51   In-Flight Project - shall mean those projects set forth and
               described in Schedule H.

      1.1.52   Initial Agreement Expiration Date - shall have the meaning set
               forth on the signature page.

      1.1.53   IT Migration - shall mean the migration of Customer's IT to the
               environment of Service Provider's current Subcontractor providing
               IT (as of the Agreement Date, [***]*) as described in Schedule G
               and, as of the Agreement Date, scheduled for [***]*.

      1.1.54   Key Performance Indicator - shall mean the performance level that
               must be met to avoid a Customer Associate, financial or business
               impact to Customer as further described in Schedule B.

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      1.1.55   Key Positions - shall mean the employment positions with Service
               Provider listed on Schedule N and referenced in Section 4.3.2.

      1.1.56   Large-Scale Conversion - shall mean a conversion [***]* that
               involves at least 50,000 employees and (c) that relates to
               payroll or call center processes.

      1.1.57   Law - shall mean any declaration, decree, directive, legislative
               enactment, order, ordinance, regulation, rule or other binding
               requirement of or by any Governmental Authority.

      1.1.58   Losses - shall mean any and all damages, fines, penalties,
               deficiencies, losses, liabilities (including settlements and
               judgments) and expenses (including interest, court costs,
               reasonable fees and expenses of attorneys, accountants and other
               experts or other reasonable fees and expenses of litigation or
               other proceedings or of any claim, default or assessment).

      1.1.59   Machines - shall mean computers and related equipment, including
               central processing units and other processors, controllers,
               modems, communications and telecommunications equipment (voice,
               data and video), cables, storage devices, printers, terminals,
               other peripherals and input and output devices, and other
               tangible mechanical and electronic equipment intended for the
               processing, input, output, storage, manipulation, communication,
               transmission and retrieval of information and data.

      1.1.60   Managed Agreements - shall have the meaning set forth in Section
               6.2.

      1.1.61   Minority-Owned Business Enterprise - shall mean a "for-profit"
               enterprise, regardless of size, physically located in the United
               States or its trust territories, which is at least fifty-one
               percent (51%) owned, operated and controlled by one or more
               members of a Minority Group who maintain United States
               citizenship.

      1.1.62   Minority Group - shall mean each of the following groups: Black
               Americans, Hispanic Americans, Native Americans (American
               Indians, Eskimos, Aleuts and native Hawaiians), Asian-Pacific
               Americans and other minorities as recognized by the Unites States
               Small Business Administration Office of Minority Small Business
               and Capital Ownership Development.

      1.1.63   New DRPs - shall have the meaning set forth in Section 4.7.2.

      1.1.64   New Intellectual Property - shall mean any (a) Software and (b)
               literary works or other works of authorship, including
               documentation, reports, drawings, charts, graphics and other
               written documentation, in each instance, that is/are created or
               developed by or with Service Provider for or on behalf of
               Customer pursuant to this Agreement in connection with In-Flight
               Projects or pursuant to Change Control Management.

      1.1.65   New Service(s) - shall mean (a) any service that is not expressly
               included in Schedule A but that Service Provider has the
               capability of performing or (b) Customer Services included in
               Schedule A but that [***]*.

      1.1.66   New Tools - shall mean shall mean any ideas, concepts, know-how,
               development tools, methodologies, processes, procedures,
               technologies or algorithms, in each case, that is/are created or
               developed by or with Service Provider for or on behalf of
               Customer pursuant to this Agreement.

      1.1.67   Parties - shall mean Customer and Service Provider, collectively.

      1.1.68   Party - shall mean either Customer or Service Provider, as the
               case may be.

      1.1.69   [***]* - shall mean the upgrade from [***]* to [***]* as
               described in Schedule G and, as of the Agreement Date, scheduled
               for [***]*.

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      1.1.70   Process - shall mean each of the following general functions
               related to the Customer Services as described in Schedule A: (a)
               "Benefits", (b) "Payroll", (c) "Customer Associate Data and
               Records Management", (d) "Information Technology and Information
               Services", (e) "Policy and Legal Compliance", (f) "Accounts
               Payable", (g) "Travel and Expense Claim Processing" and (h)
               "Asset Management Services".

      1.1.71   Process Effective Date - shall mean, with respect to any Process,
               the date on which Service Provider assumes management of and
               becomes responsible for such Process.

      1.1.72   Project FTEs - shall have the meaning set forth in Schedule C.

      1.1.73   Project Staff - shall mean the employees of Service Provider and
               Service Provider Representatives who provide the Customer
               Services.

      1.1.74   Related Documentation - shall mean, with respect to Software, all
               materials, documentation, specifications, technical manuals, user
               manuals, flow diagrams, file descriptions and other written
               information that describes the function and use of such Software,
               as applicable.

      1.1.75   Renewal Period - shall have the meaning set forth in Section 2.2.

      1.1.76   Reporting Service Levels - shall mean the quantitative and
               qualitative performance levels used to measure Service Provider's
               performance of Customer Services as further described in Schedule
               B.

      1.1.77   Representatives - shall mean Customer Representatives or Service
               Provider Representatives, as the case may be.

      1.1.78   SEC - shall have the meaning set forth in Section 16.3.

      1.1.79   Service Levels - shall mean the Reporting Service Levels and the
               Key Performance Indicators, collectively.

      1.1.80   Service Provider - shall mean Exult, Inc., a Delaware
               corporation, having its principal place of business at 4 Park
               Plaza, Suite 1000, Irvine, California 92614.

      1.1.81   Service Provider Affiliate - shall mean any entity that, directly
               or indirectly, Controls, is Controlled by or is under common
               Control with Service Provider.

      1.1.82   Service Provider Client Executive - shall have the meaning set
               forth in Section 4.3.1.

      1.1.83   Service Provider Proprietary Software - shall mean (a) the
               Software (including modifications and derivatives thereof
               developed under this Agreement) owned by Service Provider and
               used in connection with the Customer Services and that is listed
               in Schedule E, as such Schedule may be modified by agreement of
               the Parties from time to time during the Term, and (b) any New
               Intellectual Property that is owned by Service Provider in
               accordance with the provisions of Section 12.3 of this Agreement.

      1.1.84   Service Provider Representatives - shall mean Service Provider
               Affiliates and the Subcontractors, designated suppliers and
               designated agents of Service Provider and Service Provider
               Affiliates, excluding Customer.

      1.1.85   Service Provider Software - shall mean the Service Provider
               Proprietary Software and the Service Provider Third Party
               Software, collectively.

      1.1.86   Service Provider Third Party Software - shall mean the Software
               licensed or leased by Service Provider from a third party
               (including modifications and derivatives thereof provided by such
               third party) that is used in connection with the Customer
               Services and listed in Schedule E, as such Schedule may be
               modified by agreement of the Parties from time to time during the
               Term.

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      1.1.87   Service Provider Tools - shall mean (a) any and all ideas,
               concepts, know-how, development tools, methodologies, processes,
               procedures, technologies or algorithms that are based upon trade
               secrets or proprietary information of Service Provider and used
               in connection with the Customer Services and listed on Schedule E
               in accordance with Section 5.10, as such Schedule may be modified
               by agreement of the Parties from time to time during the Term,
               and (b) any New Tools that are owned by Service Provider in
               accordance with the provisions of Section 12.3 of this Agreement.

      1.1.88   Services - as used in the Schedules, shall mean the Customer
               Services.

      1.1.89   Software - shall mean the object and source code versions of any
               applications programs, operating system software, computer
               software languages, utilities, other computer programs and
               Related Documentation, in whatever form or media, including the
               tangible media upon which such applications programs, operating
               system software, computer software languages, utilities, other
               computer programs and Related Documentation are recorded or
               printed.

      1.1.90   Steering Committee - shall mean the committee of persons agreed
               to by the Parties' respective Client Executives as described in
               Section 4.6.

      1.1.91   Subcontractors - shall mean (a) with respect to Service Provider
               and Service Provider Affiliates, any entity that is contractually
               obligated to provide or assist Service Provider in the provision
               of Customer Services, other than Customer and Customer
               Affiliates, and (b) with respect to Customer and Customer
               Affiliates, any entity that is contractually obligated to provide
               or assist in the provision of any services to Customer, Customer
               Affiliates or their respective customers, other than Service
               Provider and Service Provider Affiliates.

      1.1.92   Systems - shall mean the Software and the Machines, collectively,
               used to provide the Customer Services.

      1.1.93   Term - shall have the meaning set forth in Section 2.1.

      1.1.94   Termination Assistance Period - shall have the meaning set forth
               in Section 3.5.2.

      1.1.95   Termination Assistance Plan - shall mean a mutually developed and
               agreed to plan pursuant to which Service Provider shall provide
               the Termination Assistance Services in accordance with Section
               3.5 of this Agreement, which plan shall address (a) the
               Termination Assistance Services to be provided during the
               Termination Assistance Period, (b) the duration of the
               Termination Assistance Period, (c) the obligations of each Party
               during the Termination Assistance Period and (d) such other
               matters as the Parties deem appropriate.

      1.1.96   Termination Assistance Services - shall have the meaning set
               forth in Section 3.5.1.

      1.1.97   [***]* Conversion - shall mean the conversion of Customer's
               payroll processes [***]*, as described in Schedule G and, as of
               the Agreement Date, scheduled for [***]*.

      1.1.98   Third Party Contracts - shall mean the Managed Agreements and the
               Assigned Agreements, collectively.

      1.1.99   Threshold Limits - shall mean a change in the aggregate volume of
               Customer Services provided to Customer that is [***]* as
               described in Schedule C.

      1.1.100  Tools - shall mean each and all of the Customer Tools, Service
               Provider Tools and New Tools.

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      1.1.101  Transition Period - shall mean the time period commencing on the
               Agreement Date and ending on the scheduled date of completion of
               the IT Migration [***]**, as such date may be changed by mutual
               agreement of the Parties.

      1.1.102  Transition Plan - shall mean the detailed description of the
               obligations, activities, tasks and associated resources of each
               party in respect of the transition of the Customer Services
               pursuant to this Agreement as set forth in Schedule G, as such
               plan may be modified by mutual agreement of the Parties during
               the Transition Period.

      1.1.103  Use - shall mean the right to load, execute, store, transmit,
               display, copy, maintain, modify, enhance, create derivative
               works, make and have made.

      1.1.104  Women-Owned Business Enterprise - shall mean a "for-profit"
               enterprise, regardless of size, located in the United States or
               its trust territories, which is at least fifty-one percent (51%)
               owned, operated and controlled by a female of United States
               citizenship.

1.2   Interpretation:

      1.2.1    The Schedules to this Agreement shall be incorporated into and
               deemed part of this Agreement and all references to this
               Agreement shall include the Schedules to this Agreement. As used
               in the Schedules, the term "Services" shall mean the Customer
               Services.

      1.2.2    The Section headings, Table of Contents and Table of Schedules
               are for reference and convenience only and shall not be
               considered in the interpretation of this Agreement.

      1.2.3    In the event of a conflict between the terms of Section 1.0
               through Section 22.0 of this Agreement (the "Core Terms") and the
               terms of a Schedule, the Core Terms shall prevail. In addition,
               in the event either Party identifies a conflict between the Core
               Terms and the terms of any Schedule, such Party shall notify the
               other Party, and the Parties shall use Change Control Management
               to address such conflict.

      1.2.4    For purposes of this Agreement, (a) the terms "including" and
               "e.g." shall mean "including, without limitation" and (b)
               references to days or time periods shall be to calendar days or
               calendar time periods unless otherwise expressly stated.

2.0   TERM OF AGREEMENT AND RENEWALS:

2.1   Term of Agreement: The term of this Agreement shall commence on the
      Agreement Date and continue until the Initial Agreement Expiration
      Date, and shall be renewed or expire in accordance with the provisions
      of Section 2.2 or terminated pursuant to Section 3.0 (the "Term").

2.2   Renewal: Upon the Initial Agreement Expiration Date and the expiration
      of each Renewal Period, this Agreement shall automatically renew for a
      one-year renewal period (each a "Renewal Period") or expire in
      accordance with Section 2.2.1 or Section 2.2.2, as applicable.

      2.2.1    Unless this Agreement is terminated earlier, Customer shall
               notify Service Provider at least [***]* prior to the Initial
               Agreement Expiration Date or, if in a Renewal Period, at least
               [***]* prior to the expiration date of such Renewal Period, as to
               whether Customer desires not to renew this Agreement, otherwise,
               this Agreement shall be automatically renewed for one Renewal
               Period on and subject to the same terms and conditions set forth
               herein; provided, however, unless Customer notifies Service
               Provider pursuant to this Section 2.2.1 that it does not desire
               to renew this Agreement, upon notice from Service Provider at
               least [***]* prior to the Initial Agreement Expiration Date or
               expiration of the then-current Renewal Period, as applicable, the
               Parties shall meet to negotiate in good faith the terms and
               conditions that shall be applicable to any upcoming Renewal
               Period.

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      2.2.2    Unless this Agreement is terminated earlier, if Customer provides
               Service Provider with notice pursuant to Section 2.2.1 at least
               [***]* prior to the Initial Agreement Expiration Date or the
               expiration of the then-current Renewal Period, as applicable,
               that it does not desire to renew this Agreement, then this
               Agreement shall expire on the Initial Agreement Expiration Date
               or the expiration of such Renewal Period, as applicable, and
               Service Provider shall provide the Termination Assistance
               Services in accordance with the Termination Assistance Plan and
               Section 3.5.

3.0 TERMINATION:

3.1   Termination By Service Provider:

      3.1.1    Service Provider shall have the right to terminate this Agreement
               for cause if Customer fails to pay any undisputed amounts payable
               under this Agreement when due and does not cure such default
               within [***]* after receipt of notice of default from Service
               Provider, in which case, unless otherwise agreed by the Parties,
               this Agreement shall terminate [***]* after the date of
               expiration of the [***]* cure period, and Service Provider shall
               provide the Termination Assistance Services pursuant to the
               Termination Assistance Plan and Section 3.5.

      3.1.2    Service Provider shall have the right to terminate this Agreement
               for cause if Customer fails to perform any of its material
               non-monetary obligations under this Agreement and does not cure
               such default within [***]* after receipt of notice of default
               from Service Provider; provided, however, that in the event a
               default under this Section 3.1.2 cannot reasonably be cured
               within such [***]* period, the time to cure the default shall
               extend for up to [***]* from the date on which the notice of
               default was received by Customer but only if Customer has
               provided to Service Provider a mutually agreed to plan to cure
               such default and promptly commences to implement such plan. In
               the event Customer does not cure a default under this Section
               3.1.2 within the [***]* cure period, as applicable, unless
               otherwise agreed by the Parties, this Agreement shall terminate
               [***]* after the date of expiration of the [***]* cure period, as
               applicable, and Service Provider shall provide the Termination
               Assistance Services pursuant to the Termination Assistance Plan
               and Section 3.5.

3.2   Termination By Customer:

      3.2.1    Termination of Agreement for Cause. In addition to any other
               express provisions in this Agreement (including, if applicable,
               Schedule B) pursuant to which Customer may terminate this
               Agreement, Customer shall have the right to terminate this
               Agreement in its entirety for cause if Service Provider
               materially fails to perform any of its material obligations under
               this Agreement [including its obligations to perform the Call
               Center Conversion (scheduled for [***]*), the [***]* Conversion
               (scheduled for [***]*), [***]* (scheduled for [***]*), and the
               [***]* (scheduled for [***]*), in each case in accordance with
               Schedule G and by its scheduled date, as such date may be
               adjusted by mutual agreement of the Parties during the Transition
               Period] and does not cure such default within [***]* after
               receipt of notice of default from Customer; provided, however,
               that in the event a default under this Section 3.2.1 cannot
               reasonably be cured within such [***]* period, the time to cure
               the default shall extend for up to [***]* from the date on which
               the notice of default was received by Service Provider but only
               if Service Provider has provided to Customer a mutually agreed to
               plan to cure such default and promptly commences to implement
               such plan. In the event Service Provider does not cure a default
               under this Section 3.2.1 within the [***]* cure period, as
               applicable, and Customer desires to terminate this Agreement
               after the [***]* cure period, as applicable, Customer shall,
               unless otherwise agreed by the Parties, provide Service Provider
               with a notice of termination and this Agreement shall terminate
               on the date set forth in such notice (which date shall not be
               later than the date that is [***]* after the expiration of the
               [***]* cure period, as applicable), and Service Provider shall
               provide the Termination Assistance Services pursuant to the
               Termination Assistance Plan and Section 3.5; provided, however,
               if Customer provides Service Provider with notice of termination
               pursuant to this Section 3.2.1 before completion of the
               Transition Period, unless otherwise agreed by the Parties, this
               Agreement shall terminate on the date of receipt of such notice
               of termination, and Service Provider shall provide the
               Termination Assistance Services pursuant to the Termination
               Assistance Plan and Section 3.5.

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                                       11
<PAGE>   12

      3.2.2    Termination of a Process for Cause. In addition to any other
               express provisions in this Agreement (including, if applicable,
               Schedule B) pursuant to which Customer may terminate this
               Agreement, Customer shall have the right to terminate a Process
               for cause if Service Provider materially fails to perform its
               material obligations with respect to such Process and does not
               cure such default within [***]* after receipt of notice of
               default from Customer; provided, however, that in the event a
               default under this Section 3.2.2 cannot reasonably be cured
               within such [***]* period, the time to cure the default shall
               extend for up to [***]* from the date on which the notice of
               default was received by Service Provider but only if Service
               Provider has provided to Customer a mutually agreed to plan to
               cure such default and promptly commences to implement such plan.
               In the event Service Provider does not cure a default under this
               Section 3.2.2 within the [***]* cure period, as applicable, and
               Customer desires to terminate the Process after the [***]* cure
               period, as applicable, Customer shall, unless otherwise agreed by
               the Parties, provide Service Provider with a notice of
               termination and such Process shall terminate on the date set
               forth in such notice (which date shall not be later than the date
               that is [***]* after the expiration of the [***]* cure period, as
               applicable), and Service Provider shall provide the Termination
               Assistance Services pursuant to the Termination Assistance Plan
               and Section 3.5; provided, however, if Customer provides Service
               Provider with notice of termination pursuant to this Section
               3.2.2 before completion of the Transition Period, unless
               otherwise agreed by the Parties, such Process shall terminate on
               the date of receipt of such notice of termination, and Service
               Provider shall provide the Termination Assistance Services
               pursuant to the Termination Assistance Plan and Section 3.5. If
               Customer terminates a Process in accordance with the provisions
               of this Section 3.2.2, the Parties shall use Change Control
               Management to address the impact of such termination on the other
               Customer Services to be provided under this Agreement.

      3.2.3    Termination for Convenience. Customer shall have the right to
               terminate this Agreement for convenience any time after the date
               that is [***]* after the Agreement Date by giving Service
               Provider notice of the termination at least [***]* prior to the
               effective date of the termination specified in such notice.

               [***]*

3.3   Bankruptcy:

      3.3.1    In the event that either Customer or Service Provider:

               (a) shall admit in writing its inability to, or be generally
                   unable to, pay its debts as such debts become due; or

               (b) shall (1) apply for or consent to the appointment of, or the
                   taking of possession by, a receiver, custodian, trustee,
                   examiner or liquidator of itself or of all or a substantial
                   part of its property or assets, (2) make a general assignment
                   for the benefit of its creditors, (3) commence a voluntary
                   case under Title 11 of the United States Code, 11 U.S.C.
                   Sections 101-1330, as amended from time to time (the
                   "Bankruptcy Code"), (4) file a petition seeking to take
                   advantage of any other law relating to bankruptcy,
                   insolvency, reorganization, liquidation, dissolution,
                   arrangement or winding-up, or composition or readjustment of
                   debts, (5) fail to controvert in a timely and appropriate
                   manner, or acquiesce in writing to, any petition filed
                   against it in an involuntary case under the Bankruptcy Code
                   or (6) take any corporate action for the purpose of effecting
                   any of the foregoing;

      then the other Party may, by giving notice thereof to such Party,
      terminate this Agreement effective as of the date specified in such
      termination notice.

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                                       12
<PAGE>   13

      3.3.2    In the event that:

               (a) a proceeding or case shall be commenced, without the
                   application or consent of either Customer or Service
                   Provider, as applicable, in any court of competent
                   jurisdiction, seeking (1) its reorganization, liquidation,
                   dissolution, arrangement or winding-up, or the composition or
                   readjustment of its debts, (2) the appointment of a receiver,
                   custodian, trustee, examiner, liquidator or the like of such
                   Party or of all or any substantial part of its property or
                   assets or (3) similar relief in respect of such Party under
                   any law relating to bankruptcy, insolvency, reorganization,
                   winding-up, or composition or adjustment of debts, and such
                   proceeding or case shall continue undismissed, or an order,
                   judgment or decree approving or ordering any of the foregoing
                   shall be entered and continue unstayed and in effect, for a
                   period of [***]* days; or

               (b) an order for relief against such Party shall be entered in an
                   involuntary case under the Bankruptcy Code;

      then the other Party may, in its sole discretion by giving notice thereof
      to such Party, terminate this Agreement effective as of the date specified
      in such termination notice.

3.4   Termination Fees:

      3.4.1    Termination Fees for Convenience. In the event Customer
               terminates this Agreement pursuant to Section 3.2.3 and the
               effective date of the termination occurs during [***]*, Customer
               shall pay the termination fees under this Agreement identified in
               Section 7.1 of Schedule C. Such termination fees shall be based
               on the date of termination and shall be due and payable upon the
               effective date of the termination; provided, however, if Customer
               requests additional Termination Assistance Services pursuant to
               Section 3.5.3 because Service Provider failed to comply with its
               obligations set forth in the Termination Assistance Plan, such
               termination fees shall be due and payable on the last day Service
               Provider provides Termination Assistance Services. Customer shall
               not be obligated to pay any termination fees under this Agreement
               in the event Customer terminates this Agreement pursuant to
               Section 3.2.3 and the effective date of the termination occurs
               during [***]*.

      3.4.2    Termination Fees for Change of Control. In the event Customer
               terminates this Agreement pursuant to Section 3.2.4, Customer
               shall pay the termination fees under this Agreement identified in
               Section 7.2 of Schedule C. Such termination fees shall be due and
               payable upon the effective date of the termination; provided,
               however, if Customer requests additional Termination Assistance
               Services pursuant to Section 3.5.3 because Service Provider
               failed to comply with its obligations set forth in the
               Termination Assistance Plan, such termination fees shall be due
               and payable on the last day Service Provider provides Termination
               Assistance Services.

      3.4.3    Termination for Cause or Bankruptcy. Customer shall not be
               obligated to pay any termination fees under this Agreement in the
               event Customer terminates this Agreement pursuant to Section
               3.2.1, Section 3.2.2 or Section 3.3.

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                                       13
<PAGE>   14

3.5   Termination Assistance:

      3.5.1    If (a) all payments due to Service Provider under this Agreement
               have been paid and (b) Customer has requested termination
               assistance (1) [***]* prior to the Initial Agreement Expiration
               Date or the expiration of the then current Renewal Period, as
               applicable, or (2) within [***]* after receiving or giving any
               notice of termination under this Agreement, the Parties shall
               promptly meet after the date on which Customer requests
               termination assistance to mutually develop and agree to a
               Termination Assistance Plan pursuant to which Service Provider
               shall provide to Customer the services set forth in Schedule T
               (the "Termination Assistance Services") in accordance with this
               Section 3.5.

      3.5.2    Unless otherwise agreed by the Parties, Service Provider shall
               provide the Termination Assistance Services for [***]* the
               effective date of the termination or expiration of (a) this
               Agreement, (b) any Process or (c) any Customer Service pursuant
               to Section 19.1.2, and in each case as set forth in the
               Termination Assistance Plan, [***]*; provided, however, in the
               event of any termination of this Agreement or any Process during
               the Transition Period or termination of any Customer Service
               resulting from infringement claims pursuant to Section 19.1.2,
               Service Provider shall provide the Termination Assistance
               Services for [***]* the effective date of such termination as set
               forth in the Termination Assistance Plan, [***]*; provided
               further, however, that to the extent such Termination Assistance
               Services cause Service Provider to use resources beyond those
               otherwise then being provided by Service Provider as part of the
               Customer Services or incur additional costs, such Termination
               Assistance Services shall be provided [***]* as described in
               Schedule C. The period during which the Termination Assistance
               Services are provided shall be referred to as the "Termination
               Assistance Period".

      3.5.3    In addition to the Termination Assistance Services to be provided
               pursuant to Section 3.5.2, above, Service Provider shall, at
               Customer's request, provide the Termination Assistance Services
               for [***]* the date Service Provider ceases providing Termination
               Assistance Services pursuant to Section 3.5.2 in accordance with
               the Termination Assistance Plan [***]*; provided, however, in the
               event and to the extent Customer requests Termination Assistance
               Services pursuant to this Section 3.5.3 because Service Provider
               failed to comply with its obligations set forth in the
               Termination Assistance Plan, such Termination Assistance Services
               shall be provided [***]*.

      3.5.4    Upon commencement of the Termination Assistance Period, Service
               Provider shall be required to comply with the Service Levels as
               may be adjusted pursuant to the mutually developed and agreed to
               Termination Assistance Plan.

3.6   Exit Rights:

      3.6.1    During the Termination Assistance Period:

               (a) Service Provider shall provide the Termination Assistance
                   Services during the Termination Assistance Period in
                   accordance with the Termination Assistance Plan and Section
                   3.5; and

               (b) [***]*

      3.6.2    Upon expiration or termination of this Agreement:

               (a) each Party shall have the rights granted to such Party in
                   Section 12.0; and

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                                       14
<PAGE>   15

               (b) upon Customer's request, with respect to any contracts
                   applicable to the Customer Services being provided to
                   Customer on a dedicated, full-time basis for maintenance,
                   disaster recovery services and other necessary third party
                   services being used by Service Provider to perform the
                   Customer Services as of the date of the expiration or
                   termination of this Agreement, Service Provider shall use
                   commercially reasonable efforts to transfer or assign such
                   agreements to Customer or its designee, on terms and
                   conditions acceptable to both Parties; provided, however,
                   that Customer provided Service Provider with reasonable
                   notice prior to entering into such contracts that Customer
                   may desire such transfer or assignment and Customer pays any
                   costs associated with such transfer or assignment.

4.0   SCOPE OF AGREEMENT; CUSTOMER SERVICES:

4.1   Generally:

      4.1.1    Commencing as of the Agreement Date and continuing throughout the
               Term, [***]* Customer and Customer Affiliates shall purchase from
               Service Provider, the Customer Services described in Schedule A
               as of the Agreement Date, all upon and subject to the terms and
               conditions set forth in this Agreement. Customer may not remarket
               or resell, and shall prevent Customer Affiliates from remarketing
               or reselling, all or any portion of the Customer Services
               provided under this Agreement or make all or any portion of the
               Customer Services available to any party other than Customer and
               Customer Affiliates, without Service Provider's consent.

      4.1.2    The Parties acknowledge that Service Provider is not and, unless
               otherwise agreed by the Parties, shall not be, the exclusive
               provider of (a) any Customer Services terminated in accordance
               with the provisions of this Agreement, [***]*.

      4.1.3    [***]*; provided, however, in the event the such scheduled dates
               for either [***]* are changed by or because of Customer, Service
               Provider shall only be required to obtain Customer's approval
               before performing Large-Scale Conversions during [***]*, as
               applicable, and shall use commercially reasonable efforts to
               otherwise accommodate Customer with respect to [***]*, as the
               case may be, on the rescheduled dates.

4.2   Service Locations:

      4.2.1    Service Provider may maintain Project Staff at the Customer
               Service Locations.

      4.2.2    Each Party, while on the other Party's premises, shall (a)
               comply, and cause its respective Representatives to comply with,
               the reasonable requests, standard rules and regulations of such
               other Party regarding security, safety and health and personal
               and professional conduct generally applicable to such premises
               (and of which such Party has received prior notice) and (b)
               otherwise conduct themselves in a businesslike manner.

4.3   Service Provider Employees:

      4.3.1    During the Term, Service Provider shall maintain an individual
               (the "Service Provider Client Executive") who shall serve as the
               primary representative of Service Provider under this Agreement.
               The Service Provider Client Executive shall be an employee of
               Service Provider and shall (a) have overall responsibility for
               managing and coordinating the performance of Service Provider's
               obligations under this Agreement and (b) be authorized to act for
               and on behalf of Service Provider with respect to all matters
               relating to this Agreement or shall have access to and seek
               authorization from another employee of Service Provider with the
               proper authority to so act. In the event the Service Provider
               Client Executive shall be absent or otherwise unable to perform
               its duties for an extended period of time, then Service Provider
               shall identify an alternate Service Provider Client Executive who
               shall have the same duties and authority to act as the Service
               Provider Client Executive.

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                                       15
<PAGE>   16

      4.3.2    [***]* Notwithstanding the foregoing, nothing herein shall
               prevent Service Provider from [***]* as of the Agreement Date
               [***]* in the event such person (a) [***]* from Service Provider,
               (b) is [***]* by Service Provider [***]* (e.g., [***]*), (c)
               [***]* his or her duties and responsibilities pursuant to this
               Agreement as determined by Service Provider or (d) [***]*;
               provided, however, Service Provider shall provide Customer notice
               prior to [***]* pursuant to clause (c) of this Section 4.3.2.

      4.3.3    If, in the performance of the Customer Services, Service Provider
               in good faith believes that the health or safety of the Project
               Staff is placed at unacceptable risk, Service Provider reserves
               the right, upon prior notice to Customer, to suspend the
               performance of the Customer Services (without incurring
               liability) for as long as such risk continues; provided, however,
               Service Provider shall not be required to provide prior notice of
               such suspension of performance in the event of an emergency, as
               reasonably determined by Service Provider, so long as Service
               Provider provides Customer with notice of such suspension of
               performance as soon as reasonably practicable and cooperates with
               Customer to resolve the problem. [***]*

      4.3.4    Service Provider shall appoint individuals to the Project Staff
               with suitable training and skills to perform the Customer
               Services.

      4.3.5    In the event Customer determines that a particular member of the
               Project Staff is not conducting himself or herself in accordance
               with this Agreement, Customer may notify Service Provider of such
               conduct. Upon receipt of such notice, Service Provider shall
               promptly investigate the matter and take appropriate action which
               may include (a) removing the applicable person from the Project
               Staff and providing Customer with prompt notice of such removal,
               and replacing the applicable person with a similarly qualified
               individual or (b) taking other appropriate disciplinary action to
               prevent a recurrence. In the event there are repeat violations of
               these provisions by a particular member of the Project Staff,
               Service Provider shall promptly remove the individual from the
               Project Staff.

      4.3.6    In the event Customer determines and notifies Service Provider
               that, or Service Provider determines and notifies Customer that,
               a particular member of the Project Staff has engaged in an act of
               fraud, dishonesty or breach of trust, Service Provider shall
               immediately remove such individual from Customer's premises and
               account.

      4.3.7    Service Provider shall notify Customer of any action taken
               pursuant to Section 4.3.6 as soon as reasonably practicable.
               Following such notice, at the request of Customer and to the
               extent permitted by law, Service Provider shall cooperate with
               investigations relating to such action conducted by or on behalf
               of Customer.

      4.3.8    Service Provider shall not knowingly, [***]* permit a Service
               Provider Representative to have access to the Customer Service
               Locations or records or data of Customer that are within Service
               Provider's control if Service Provider knows such Service
               Provider Representative (a) has been convicted of a crime for, or
               has agreed to or entered into a pre-trial diversion or similar
               program with respect to, (1) a dishonest act or breach of trust
               as set forth in Section 19 of the Federal Deposit Insurance Act
               (12 U.S.C. 1829(a)) or (2) a felony, or (b) uses illegal drugs.

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                                       16
<PAGE>   17

4.4   Market Awareness: Service Provider shall periodically meet with Customer
      in accordance with the procedures agreed upon by the Parties to inform
      Customer of any new services related to the Customer Services that Service
      Provider is developing or trends of which Service Provider becomes aware
      that could reasonably be expected to have an impact on Customer's
      business. The acquisition and implementation of any such new service by
      Service Provider at Customer's request shall be through the process set
      forth in Section 10.1.

4.5   Human Resources: The transition of the Customer Associates set forth on
      Schedule I to Service Provider shall be effected in accordance with the
      terms of Schedule J. Neither Party's personnel is eligible to participate
      in any of the employee benefits or similar programs of the other Party.
      Each Party shall inform all of its personnel, in the case of the Service
      Provider providing Customer Services and in the case of Customer receiving
      the Customer Services or assisting Service Provider in the delivery of the
      Customer Services, that they will not be considered employees of the other
      Party for any purpose, and that such other Party shall not be liable to
      any of them as an employer in any amount for any claims or causes of
      action arising out of or relating to their assignment in connection with
      this Agreement or release therefrom.

4.6   Steering Committee Meetings: Within 60 days after the Agreement Date, the
      Parties shall jointly determine a set of Steering Committee meetings to be
      held between representatives of Service Provider and Customer. At a
      minimum, the Steering Committee shall meet on a quarterly basis or as
      otherwise agreed by the Client Executives. For each meeting the Client
      Executives shall agree to and publish an agenda sufficiently in advance of
      the meeting to allow meeting participants a reasonable opportunity to
      prepare for the meeting. The number of members, names of initial members,
      chairman, responsibilities of individual members and mission statement of
      the Steering Committee shall be agreed to by the Client Executives and set
      forth in the Transition Plan.

4.7   Disaster Recovery:

      4.7.1    Commencing on the date Service Provider is responsible for
               providing Customer Services in respect of a Process, Service
               Provider shall follow Customer's existing Disaster Recovery Plans
               ("Existing DRPs"), to the extent relating to Customer Services,
               that have been previously provided to Service Provider in
               writing.

      4.7.2    As part of the Transition Plan, Customer and Service Provider
               agree to use Change Control Management to (a) confirm or modify
               the Existing DRPs and/or (b) develop new Disaster Recovery Plans
               ("New DRPs"), in each case in respect of the Customer Services
               and as agreed to by the Parties. Any fees applicable to any
               disaster recovery services beyond commonly accepted industry
               standards shall be agreed upon in accordance with Change Control
               Management.

4.8   Account Management: Throughout the Term, the Parties' respective Client
      Executives shall meet periodically, at such intervals as they may deem
      advisable and in any event at least monthly or as otherwise agreed by the
      Client Executives and set forth in the Transition Plan, to review their
      respective performances under this Agreement. All such meetings shall take
      place at mutually agreeable locations, or if mutually agreed, by telephone
      conference call or video conference, and the results of such meetings
      shall be communicated to the Steering Committee at its next meeting
      following such meeting.

4.9   Notification of [***]*: Service Provider shall promptly notify Customer
      upon the occurrence of a [***]*.

4.10  [***]* Operating Platform: Service Provider shall not move away from the
      [***]* Operating Platform during [***]* without Customer's prior consent.

4.11  In-Flight Projects:

      4.11.1   In-Flight Projects Generally. In accordance with the Fees set
               forth on Schedule C, Service Provider shall provide the project
               management and related services and In-Flight Project
               deliverables described in Schedule H in connection with the
               In-Flight Projects.

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                                       17
<PAGE>   18

      4.11.2   [***]* Conversion. To the extent the [***]* Conversion cannot be
               completed pursuant to Schedule H with the Project FTEs, Service
               Provider shall provide up to [***]* to work on the [***]*
               Conversion, and Service Provider shall invoice Customer for any
               additional costs incurred by Service Provider in connection with
               completing the [***]* Conversion. In the event the value of the
               FTEs required to complete the [***]* Conversion is less than
               [***]*, Service Provider shall have no obligation to utilize or
               otherwise apply the difference to or in connection with the
               performance of the Customer Services, any In-Flight Project or
               any other project.

4.12  Performance Covenant: Service Provider shall perform its obligations set
      forth in Section 7.1 and agrees to perform such obligations and all other
      Customer Services in a manner that meets Customer's requirements as
      specifically set forth in and in accordance with the provisions of this
      Agreement.

4.13  Internet Portal. Customer shall, at its expense, obtain, maintain and make
      available to Service Provider, and Service Provider shall use, [***]*.

5.0   PRICING, FEES AND RELATED MATTERS:

5.1   Fees: In consideration of Service Provider providing the Customer
      Services, Customer shall pay to Service Provider the Fees set forth in
      Schedule C in accordance with the terms and conditions of this Agreement,
      as may be adjusted from time to time pursuant to the terms of this
      Agreement.

5.2   Time of Payment:

      5.2.1    [***]* Invoices. Service Provider shall deliver an invoice on or
               about [***]* for (a) the Customer Services to be performed during
               [***]* and (b) the Customer Services performed by Service
               Provider during any [***]* and for which Service Provider has not
               invoiced Customer. Each such invoice submitted to Customer
               pursuant to this Section 5.2.1 shall be due within [***]* of
               receipt by Customer.

      5.2.2    Other Invoices. Any sum due Service Provider pursuant to this
               Agreement for which a time of payment is not otherwise specified
               shall be due and payable [***] receipt by Customer of an invoice
               from Service Provider.

      5.2.3    All invoices shall be submitted in duplicate to Customer at 401
               North Tryon Street, NCI-021-02-19, Charlotte, North Carolina
               28255. At least [***]* the delivery of any invoice pursuant to
               this Agreement, the Parties' Client Executives or their designees
               shall meet to discuss any extraordinary items or adjustments
               anticipated by either Party to be included in such invoice.

      5.2.4    All amounts payable under this Agreement shall be paid in U.S.
               dollars.

5.3   Disputed Amounts: If Customer, in good faith, disputes the accuracy of any
      invoice charges, Customer shall pay the invoice in accordance with Section
      5.2 of this Agreement and reserve its rights with respect to the disputed
      amounts. If the Parties have not resolved the dispute within [***]* the
      invoice containing the disputed amount, Service Provider shall [***]* and
      either Party may pursue its rights under Section 18.0 of this Agreement.

5.4   Expenses:

      5.4.1    Customer shall reimburse Service Provider, as a pass-through for
               all travel expenses, living, hotel and transportation allowances
               and other normally reimbursable expenses and allowances for any
               member of the Project Staff, for travel outside the scope of
               travel in connection with the customary and normal provision of
               the Customer Services, all as reasonably incurred and in
               accordance with Service Provider's generally applicable personnel
               practices and procedures. All such expenses in excess of [***]*
               shall be pre-approved by Customer and documented through mutually
               defined account management procedures. Service Provider shall
               comply with Customer's travel policies of which Service Provider
               has been provided reasonable prior notice.

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                                       18
<PAGE>   19

      5.4.2    The Fees and the Service Levels each relate to normal expected
               operation. Customer recognizes that in the event of a single,
               short-term event caused by Customer or Customer Representatives
               occurring outside of normal business hours, Service Provider may
               incur additional costs and expenses to ensure continuation of the
               Customer Services, including by providing the Customer Services
               from the premises of a third party. If such resources or costs
               are reasonable in the light of such an event, [***]*.

5.5   Proration: All periodic charges under this Agreement are to be computed on
      a calendar month basis and shall be prorated on a per diem basis for any
      partial month.

5.6   Extraordinary Changes in Workload: In the event that the volume of
      Customer Services delivered to Customer fall outside the Threshold Limits
      at any time [***]*, or Customer notifies Service Provider of any
      anticipated event or events that Customer believes may result in a
      sustained increase or decrease in the volume of Customer Services
      delivered to Customer, the Parties shall use Change Control Management to
      accommodate the extraordinary increase or decrease of resource
      requirements in a cost-effective manner, which may include (a) a net
      increase or decrease in Service Provider's aggregate costs of and
      applicable Fees relating to performing the Customer Services that are
      caused by the extraordinary change (excluding increases or decreases
      attributable to Service Provider's performance); (b) acquisition or
      disposition of assets and other similar costs of additions to or
      reductions from Customer Services and (c) a reasonable allowance for
      profit upon the net change in costs. Upon completion of Change Control
      Management, the Parties shall make any applicable adjustments to the
      Schedules as set forth in the Change Order signed by the Parties.

5.7   Cost of Living Adjustment: Commencing with Fees payable on [***]* and for
      Fees payable thereafter, the portion of the Fees attributable to [***]*
      shall be subject to a cost of living adjustment based on [***]*. Payment
      of such cost of living adustment shall be allocated between the Parties in
      accordance with Section 8 of Schedule C. Notwithstanding the foregoing, if
      there is no increase in the ECI for any period measured, there shall be no
      cost of living adjustment with respect to the Fees.

5.8   No Rights of Set-Off: Customer shall not have the right to deduct any
      amounts owed by Service Provider to Customer from the Fees or the expenses
      owed by Customer to Service Provider under this Agreement. Notwithstanding
      the immediately preceding sentence, Customer shall have the right to
      deduct from the Fees or the expenses owed by Customer to Service Provider
      under this Agreement the following amounts, so long as (a) such amounts
      have been finally and fully determined to be owed by Service Provider to
      Customer in accordance with this Agreement and (b) Service Provider fails
      to credit or refund such amounts to Customer in accordance with this
      Agreement or as otherwise agreed by the Parties: (1) [***]* not properly
      refunded to Customer or, if mutually agreed by the Parties, credited to
      Customer, in accordance with Section 5.3; (2) amounts owed by Service
      Provider to Customer as a result of the resolution of any dispute in
      accordance with Section 18.0; (3) amounts owed by Service Provider to
      Customer with respect to Service Provider's indemnification obligations
      under Section 19.1 or Section 19.2; and (4) any damages determined to be
      due to Customer in accordance with Section 20.0 of this Agreement.

5.9   Taxes:

      5.9.1    The Fees paid to Service Provider are [***]*

      5.9.2    Service Provider shall be responsible for the payment of all
               interest and/or penalties related to any taxes assessed or levied
               as contemplated by Section 5.9.1 to the extent Service Provider
               fails to accurately and timely invoice Customer for such taxes
               and remit such taxes directly to the applicable taxing authority;
               provided, however, in no event shall Service Provider be
               responsible for the payment of the underlying tax liability,
               which tax liability shall always be a liability of Customer.

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                                       19
<PAGE>   20

      5.9.3    Customer and Service Provider shall each bear sole responsibility
               for all taxes, assessments and other real property-related levies
               on its owned or leased real property.

      5.9.4    Customer and Service Provider shall cooperate to segregate the
               Fees into the following separate payment streams: [***]* In
               addition, each of Customer and Service Provider shall reasonably
               cooperate with the other to more accurately determine a Party's
               tax liability and to minimize such liability, to the extent
               legally permissible. Each of Customer and Service Provider shall
               provide and make available to the other any resale certificates,
               information regarding out-of-state sales or use of equipment,
               materials or services, and any other exemption certificates or
               information requested by a Party.

5.10  Verification of Information: The Customer Services, Fees and Service
      Levels are based on circumstances, estimates, metrics, principles,
      financial data, standards and general information disclosed by either
      Party or used by either Party as more fully described in Schedule A,
      Schedule B and Schedule C, as applicable (collectively, the
      "Assumptions"). Each Party shall be responsible for the accuracy of any
      representation it made as part of the due diligence and negotiation
      process and on which the Assumptions are based. [***]* In addition, during
      the Adjustment Period the Parties shall specifically (a) identify and/or
      confirm the Customer Software and Customer Tools applicable to the
      Customer Services and set forth or update the description of such Customer
      Software and Customer Tools on Schedule F, (b) identify and/or confirm the
      Service Provider Software and Service Provider Tools applicable to the
      Customer Services and set forth or update the description of such Service
      Provider Software and Service Provider Tools on Schedule E, (c) identify
      and/or confirm the Managed Agreements and Assigned Agreements set forth in
      Schedule D, (d) document in accordance with Section 16.1.1 the information
      security procedures to be followed by Service Provider, (e) mutually agree
      on certain types and amounts of insurance coverage set forth in Section
      20.1.1 and (f) any other items mutually agreed by the Parties.

5.11  [***]*

5.12  Record Retention:

      5.12.1   Service Provider shall maintain at no additional cost to
               Customer, in a reasonably accessible location, all material
               records pertaining to its charges and costs paid or payable by
               Customer to Service Provider under this Agreement. Throughout the
               Term and thereafter for the longer of [***]* such Service
               Provider records referenced above may be inspected, audited and
               copied by Customer or by federal or state agencies having
               jurisdiction over Customer and requesting or requiring such
               access, during normal business hours and at such reasonable times
               as the Parties may determine, as described in Section 17 of this
               Agreement.

      5.12.2   During the Transition Period and with respect to each Process,
               the Parties shall determine what original documents (in written
               and electronic form) as defined in Customer's Record Retention
               policy are currently retained by Customer. The Parties shall then
               determine whether, and to what extent, Service Provider and
               Customer shall have possession of original documents following
               the Process Effective Date relating to such Process. To the
               extent the Parties determine that Service Provider shall have
               physical originals, Service Provider shall perform in accordance
               with Customer's Record Retention policy and either deliver such
               documents to Customer directly or make such documents available
               for pick-up by Customer's then current third party record
               retention firm (e.g., Iron Mountain), as applicable.

6.0  CONTRACT ADMINISTRATION:

6.1   Assigned Agreements: Subject to Customer's obtaining, maintaining and
      complying with the Consents, Customer shall assign the agreements
      designated in Schedule D as Assigned Agreements (and any other agreements
      mutually agreed upon by the Parties during the Adjustment Period and
      during the Term) (collectively, the "Assigned Agreements") to Service
      Provider and thereafter Service Provider shall [***]* under the Assigned
      Agreements ([***]* within the scope of the Customer Services), and Service
      Provider shall have [***]*. Service Provider shall [***]* under the
      Assigned Agreements, including, with respect to each Assigned Agreement,
      (a) [***]*

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                                       20
<PAGE>   21

      all related [***]* attributable to the period commencing on or after the
      Process Effective Date for the Process to which such Assigned Agreement
      relates and (b) [***]* under such Assigned Agreement, in each case [***]*
      to Service Provider on or before such Process Effective Date through
      receipt by Service Provider of a copy of the relevant documents, including
      the applicable Assigned Agreement. Service Provider shall notify Customer
      prior to (i) [***]* of any Assigned Agreement and (ii) [***]* Assigned
      Agreement that Service Provider [***]*.

6.2   Managed Agreements: Subject to Customer's obtaining, maintaining and
      complying with the Consents, Service Provider shall [***]* designated in
      Schedule D as Managed Agreements (and any other agreements mutually agreed
      upon by the Parties during the Adjustment Period and during the Term)
      (collectively, the "Managed Agreements") and Service Provider shall [***]*
      Managed Agreements during the Term. Customer shall provide Service
      Provider with reasonable notice of any [***]* with respect to the Managed
      Agreements. Customer shall not [***]* Managed Agreement without providing
      reasonable notice to Service Provider. Any fees or charges imposed upon
      Customer in connection with any [***]* Managed Agreements, shall be paid
      or discharged, as applicable, by Customer.

6.3   Customer Obligations: Commencing as of the Agreement Date, Customer shall
      not (a) [***]*, written or oral, affecting or impacting the Third Party
      Contracts (except for Third Party Contracts with respect to which Customer
      has provided Service Provider notice prior to the Agreement Date or as
      otherwise mutually agreed by the Parties during the Adjustment Period) or
      (b) [***]* without first using Change Control Management to assess the
      impact [***]* any such Managed Agreement or Assigned Agreement on the
      Customer Services. Customer shall satisfy all its obligations with respect
      to each Third Party Contract accruing or attributable to periods prior to
      the Process Effective Date for the Process to which such Third Party
      Contract relates.

7.0   SERVICE LEVELS:

7.1   Service Levels: Service Provider shall report on and provide such data as
      is necessary to support the Reporting Service Levels set forth in Schedule
      B. Service Provider shall comply with the Key Performance Indicators set
      forth in Schedule B. Service Provider shall report on or comply with, as
      applicable, the Service Levels for which Customer is able to provide
      documented and substantiated performance history confirming that Customer
      had previously reported on or complied with such Service Level; provided,
      however, Customer shall, wherever possible with respect to each such
      Service Level, provide performance history for the most recent [***]*

7.2   Reporting: Service Provider shall provide to Customer performance reports
      on a monthly basis in the format and otherwise in accordance with the
      standards to be mutually agreed upon during the Transition Period and set
      forth in Schedule R.

7.3   Remedies:

      7.3.1    Customer agrees that the remedies available to it in the event of
               a failure by Service Provider to provide the Customer Services in
               accordance with the Key Performance Indicators should be
               addressed to correcting problems that resulted in such failure,
               [***]*.

      7.3.2    If Service Provider fails to meet a Key Performance Indicator for
               any Customer Service, then Service Provider shall [***]*

7.4   Exclusions: Degradations of performance shall not constitute Service
      Provider's failure to meet applicable Service Levels to the extent that
      any such failure is attributable to any one or more of the following
      causes:

      (a) Force Majeure Events;

      (b) failure of another Service Level (provided, however, that Service
          Provider (1) completes performance of the applicable Customer Service
          and all other Customer Services as near as commercially reasonably
          possible to the applicable Service Levels and (2) uses commercially
          reasonable efforts to remedy the problem that caused it to fail to
          meet such Service Level and other related Service Levels);

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                                       21
<PAGE>   22

      (c) Customer's acts or omissions (including violations of Law, willful
          misconduct, negligent acts or breaches of this Agreement or matters
          subject to indemnification hereunder);

      (d) acts or omissions of Customer's Subcontractors and Customer Affiliates
          (including violations of Law, willful misconduct, negligent acts or
          breaches of applicable agreements or matters subject to
          indemnification thereunder);

      (e) infringements of third party proprietary rights by Customer,
          Customer's Affiliates or Customer's Subcontractors;

      (f) deficiencies in assets acquired solely from Customer, or in resources,
          systems or processes provided or established solely by Customer or
          Customer Representatives in connection with the Customer Services,
          whether maintained by Customer or transitioned in whole or in part to
          Service Provider, provided that, (1) with respect to assets acquired
          from Customer, such deficiencies are identified to Customer [***]*
          after all such assets are acquired by Service Provider, and (2) with
          respect to resources, systems or processes, such deficiencies are
          identified [***]*, or such other time period as mutually agreed by the
          Parties, after such resources, systems or processes, as the case may
          be, are provided to Service Provider (provided that in the event
          Customer or any Customer Representative at any time modifies or
          otherwise changes the resources, systems or processes provided or
          established by Customer or Customer Representatives, as applicable,
          Service Provider shall have an [***]* or other time period mutually
          agreed to by the Parties to identify such deficiencies), and in each
          case Service Provider demonstrates that such deficiencies caused such
          degradation in performance;

      (g) service or resource reductions requested or approved by Customer and
          agreed by the Parties through the use of Change Control Management,
          provided that Service Provider notified Customer of such possible
          degradation of performance during Change Control Management;

      (h) Customer's failure to take corrective action within Customer's
          responsibility reasonably requested and identified by Service Provider
          to Customer as essential to maintain Service Levels; or

      (i) failures to meet Service Levels while operating under a disaster
          recovery plan.

      Service Provider shall take commercially reasonable efforts to mitigate
      the effects of the foregoing circumstances. Notwithstanding the foregoing,
      in the event Service Provider's failure to meet a Service Level results
      from the occurrence of a sudden and unexpected Force Majeure Event as
      described in Section 22.8 of this Agreement, Service Provider shall use
      reasonable and prudent efforts to resume providing Customer Services in
      accordance with the Service Levels.

8.0   CHANGES IN THE CUSTOMER SERVICES:

8.1   Right To Make Changes:

      8.1.1    Service Provider reserves the right to designate and make changes
               to [***]* (each, a "Change"); provided, however, that (a)
               Customer shall have the right to review and approve material
               Changes and (b) no Change shall (1) [***]*, (2) [***]*, (3)
               [***]* or interaction with Service Provider or other third
               parties or (4) [***]*.

      8.1.2    Except as set forth in subsection 8.1.1, above, in the event a
               Party wishes to make a Change or other modification to this
               Agreement, such Party shall, in accordance with Change Control
               Management, submit a proposal to the other Party describing such
               desired Change. The other Party shall, in accordance with Change
               Control Management, reject or accept the proposal within a
               reasonable period of time, but in no event more than [***]* after
               receipt of the proposal. In the event the proposal is rejected,
               the rejection shall include the reason for the rejection. In the
               event the proposal is accepted, the Parties shall, in accordance
               with

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                                       22
<PAGE>   23

               Change Control Management, determine the additions or
               modifications to be made to this Agreement (including the Fees).
               Any such addition or modification shall be set forth in a Change
               Order signed by the Parties. Neither Party shall be obligated to
               accept a proposal submitted by the other Party pursuant to this
               subsection. Service Provider shall have no obligation to provide
               any service or otherwise act pursuant to any proposal submitted
               by Customer pursuant to this subsection, except to the extent
               such proposal is set forth in an executed Change Order.

8.2   Changes in Law:

      8.2.1    Changes in Law Relating to Customer's Responsibilities:

               Customer shall be responsible for promptly identifying and
               notifying Service Provider of any changes in Law relating to
               Customer's Banking Regulatory Requirements that may relate to
               Service Provider's delivery or Customer's receipt of or use of
               the Customer Services. In accordance with Change Control
               Management initiated by Customer, the Parties shall work together
               to identify the impact of such changes on how Customer receives
               and uses, and Service Provider delivers, the Customer Services.
               Customer shall be responsible for any fines and penalties arising
               from any noncompliance by Customer or Service Provider with any
               such changes in Law relating to the Customer Services, provided,
               however, that Service Provider shall be responsible for any fines
               and penalties arising from any noncompliance by Service Provider
               to the extent Customer has notified Service Provider of a change
               in Law and either (1) Service Provider does not comply with any
               Change Order signed by the Parties or (2) if the Parties did not
               have sufficient time to use Change Control Management, Service
               Provider failed to comply with such change in Law even though it
               had a reasonable period of time after notification from Customer
               in which to comply with such change in Law. Notwithstanding the
               foregoing, in addition to Service Provider's obligations set
               forth in Section 8.2.2, below, Service Provider agrees to notify
               Customer of any changes in Law relating to Customer's Banking
               Regulatory Requirements of which Service Provider becomes aware.

      8.2.2    Changes in Law Relating to Service Provider's Responsibilities:

               Service Provider shall be responsible for promptly identifying
               and notifying Customer of any changes in Law, other than changes
               in Law relating to Customer's Banking Regulatory Requirements
               (including state and federal tax and labor laws), that may relate
               to Service Provider's delivery or Customer's receipt of or use of
               the Customer Services. In accordance with Change Control
               Management, the Parties shall work together to identify the
               impact of such changes on how Customer receives and uses, and
               Service Provider delivers, the Customer Services. Service
               Provider shall be responsible for any fines and penalties arising
               from any noncompliance by Customer or Service Provider with any
               such changes in Law relating to the Customer Services, provided,
               however, that Customer shall be responsible for any fines and
               penalties arising from any noncompliance by Customer to the
               extent Service Provider has notified Customer of a change in Law
               and either (1) Customer does not comply with any Change Order
               signed by the Parties or (2) if the Parties did not have
               sufficient time to use Change Control Management, Customer failed
               to comply with such change in Law even though it had a reasonable
               period of time after notification from Service Provider in which
               to comply with such change in Law. Notwithstanding the foregoing,
               in addition to Customer's obligations set forth in Section 8.2.1,
               above, Customer agrees to notify Service Provider of any other
               changes in Law related to the Customer Services of which Customer
               becomes aware.

9.0   TRANSITION PLAN:

9.1   Each of the Parties shall be responsible for the transition obligations
      and milestones described in the Transition Plan as mutually agreed and as
      set forth in Schedule G, as such Schedule may be modified by mutual
      agreement of the Parties.

                                       23
<PAGE>   24

10.0  NEW SERVICES:

10.1  Service Provider Opportunity: With respect to any New Service for which
      Service Provider has been selected to provide to Customer, Service
      Provider shall not be responsible for providing such New Service until
      Service Provider and Customer have executed a Change Order. [***]*

10.2  Cooperation with Third Party Service Providers: In the event Customer
      selects a third party to provide a New Service, upon Customer's request
      and reasonable notice, Service Provider shall, as a New Service and in
      accordance with Change Control Management, cooperate with any independent
      third party service providers of Customer; provided, however, that (a)
      such cooperation does not impact the Customer Services or Service
      Provider's ability to meet the Service Levels and (b) Service Provider
      shall not be required to disclose any of Service Provider's Confidential
      Information to such third party service provider unless such third party
      executes a confidentiality agreement in the form attached as Schedule M
      and such third party's use of such Confidential Information is solely for
      the benefit of Customer.

11.   RESPONSIBILITIES OF THE PARTIES:

11.1  Customer Managers: During the Term, Customer shall maintain an individual
      (the "Customer Client Executive") who shall serve as the primary Customer
      representative under this Agreement. The Customer Client Executive shall
      be a Customer Associate and shall (a) have overall responsibility for
      managing and coordinating the performance of Customer's obligations under
      this Agreement and (b) be authorized to act for and on behalf of Customer
      with respect to all matters relating to this Agreement or shall have
      access to and seek authorization from another Customer Associate with the
      proper authority to so act. In the event the Customer Client Executive
      shall be absent or otherwise unable to perform its duties for an extended
      period of time, then Customer shall identify an alternate Customer Client
      Executive who shall have the same duties and authority to act as the
      Customer Client Executive.

11.2  Customer Responsibilities: During the Term and in connection with Service
      Provider's performance of the Customer Services, Customer shall, at its
      expense: (a) be responsible for the obligations and responsibilities set
      forth as Customer's responsibility in Schedule A; (b) [***]*; (c) provide
      to Service Provider complete and accurate information regarding Customer's
      business requirements in respect of any Customer Services to be performed
      by Service Provider under this Agreement; (d) [***]*; (e) provide
      reasonable cooperation to Service Provider; (f) promptly notify Service
      Provider of any (1) third party claims that may have an impact on this
      Agreement and (2) invalid, expired or terminated licenses that may have an
      impact on this Agreement; and (g) perform all other obligations of
      Customer described in this Agreement. In addition to the foregoing, during
      the Term and in connection with Service Provider's performance of the
      Customer Services, Customer shall use commercially reasonable efforts to
      obtain, maintain and comply with the Consents; provided, however, Service
      Provider shall reimburse Customer for [***]*, and such amount shall be
      reimbursed to Customer [***]* after receipt by Service Provider of notice
      of the amount to be paid by Customer pursuant to this Section 11.2 or, if
      agreed to by Customer, credited to Customer on the next quarterly invoice
      to be delivered to Customer.

11.3  Resources: Commencing on the Agreement Date and continuing for so long as
      either Party requires the same for the performance of the Customer
      Services, each Party shall provide to the other Party, [***]* but subject
      to the other Party's compliance with the provisions of Section 4.2.2 of
      this Agreement:

      (a) with regard to a reasonable number of members of the Project Staff or
          Customer Associates, as agreed by the Parties, that are directly
          related to the provision or coordination of Customer Services at the
          Customer Service Locations or such other premises of either Party as
          agreed by the Parties, the use of the space in the Customer Service
          Locations or such other premises that either Party may require from
          time to time in connection with the performance of the Customer
          Services, together with office furnishings, telephone equipment and
          services, janitorial services, utilities and office-related equipment,
          supplies and duplicating services reasonably required in connection
          with the performance of the Customer Services;

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                                       24
<PAGE>   25

      (b) as mutually agreed by the Parties, full access to, and use of, the
          Machines owned or leased by either Party, the networks of either
          Party, the Software owned or licensed by either Party, and the Tools
          owned by either Party, in each case to the extent necessary to perform
          the Customer Services in accordance with this Agreement; and

      (c) such other resources specified as Customer's responsibility in
          Schedule A.

12.0  SOFTWARE AND PROPRIETARY RIGHTS:

12.1  Customer Software:

      12.1.1   All Customer Software shall be and shall remain the exclusive
               property of Customer or its licensor, and Service Provider shall
               have no rights or interests in the Customer Software except as
               described in this Agreement. [***]* In addition to the
               verification of the Assigned Agreements and the Managed
               Agreements during the Adjustment Period, [***]* and upon mutual
               agreement of the Parties to reflect this in the [***]*, as
               necessary, Service Provider shall [***]* Managed Agreements.
               [***]* Notwithstanding the foregoing, Customer shall use
               commercially reasonable efforts to obtain the Consents with
               respect to Customer Third Party Software and, to the extent
               Customer is unable to obtain such Consents, the Parties shall use
               Change Control Management to address the impact on Service
               Provider's ability to provide the Customer Services.

      12.1.2   In the event Customer does not comply with any of its obligations
               set forth in this Section 12.1, Service Provider shall be excused
               from its obligation to perform the Customer Services, including
               Service Provider's obligation to meet the Service Levels, to the
               extent that its inability to perform the Customer Services or
               meet the Service Levels is caused by Customer's failure to comply
               with such obligations. Service Provider hereby irrevocably
               assigns to Customer any and all rights or interests in the
               Customer Software. Customer makes no representations or
               warranties hereby with respect to the Customer Software.

12.2  Service Provider Software:

      12.2.1   All Service Provider Software shall be and shall remain the
               exclusive property of Service Provider or its licensor, and
               Customer shall have no rights or interests in the Service
               Provider Software except as expressly set forth in this
               Agreement. Customer hereby irrevocably assigns to Service
               Provider any and all rights or interests in the Service Provider
               Software. Service Provider makes no representations or warranties
               hereby with respect to the Service Provider Software.

      12.2.2   Service Provider shall (a) use commercially reasonable efforts to
               include provisions in its licenses with licensors of Service
               Provider Third Party Software that allow Customer to access and
               Use such Service Provider Third Party Software after the
               expiration or termination of this Agreement [***]* or, (b) if
               Service Provider is unable to cause such a provision to be
               included in the applicable licenses, Service Provider shall (1)
               notify Customer and (2) use commercially reasonable efforts to
               cause licensors of the applicable Service Provider Third Party
               Software to negotiate directly with Customer with respect to the
               terms, conditions and prices of licensing arrangements, if any,
               to be entered into directly between Customer and such licensors.

12.3  New Intellectual Property and New Tools:

      12.3.1   [***]*

      12.3.2   If the Parties determine that Customer shall have all right,
               title and interest, including worldwide rights of copyright,
               patent, trade secret or other proprietary rights in and to any
               New Intellectual Property or New Tools, as applicable, and, all
               copies made from any such New Intellectual Property or New Tools,
               then

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                                       25
<PAGE>   26

               Service Provider hereby irrevocably assigns, transfers and
               conveys, and shall cause Service Provider Representatives to
               assign, transfer and convey, to Customer without further
               consideration all of its right, title and interest in and to such
               New Intellectual Property or New Tools, as applicable, including
               all worldwide rights of patent, copyright, trade secret or other
               proprietary rights in such materials. Service Provider
               acknowledges that Customer and its successors and permitted
               assigns shall have the right to obtain and hold in their own
               names any intellectual property rights in and to such New
               Intellectual Property or New Tools, as applicable. Service
               Provider agrees to execute any documents or take any other
               actions as may reasonably be necessary, or as Customer may
               reasonably request, to perfect Customer's ownership of any such
               New Intellectual Property or New Tools, as applicable, and the
               Parties shall update Schedule F as appropriate.

      12.3.3   If the Parties determine that Service Provider shall have all
               right, title and interest, including worldwide rights of
               copyright, patent, trade secret or other proprietary rights in
               and to any New Intellectual Property or New Tools as applicable,
               and, all copies made from any such New Intellectual Property or
               New Tools, then Customer hereby irrevocably assigns, transfers
               and conveys, and shall cause Customer Representatives to assign,
               transfer and convey, to Service Provider without further
               consideration all of its right, title and interest in and to such
               New Intellectual Property or New Tools, as applicable, including
               all worldwide rights of patent, copyright, trade secret or other
               proprietary rights in such materials. Customer acknowledges that
               Service Provider and its successors and permitted assigns shall
               have the right to obtain and hold in their own names any
               intellectual property rights in and to such New Intellectual
               Property or New Tools, as applicable. Customer agrees to execute
               any documents or take any other actions as may reasonably be
               necessary, or as Service Provider may reasonably request, to
               perfect Service Provider's ownership of any such New Intellectual
               Property or New Tools, as applicable, and the Parties shall
               update Schedule E as appropriate.

      12.3.4   If the Parties determine that they shall each have ownership
               and/or license rights in any New Intellectual Property or New
               Tools, as applicable, then the ownership and license rights with
               respect to such New Intellectual Property or New Tools, as
               applicable, shall be determined through the use of Change Control
               Management and documented in the agreement executed by the
               Parties relating to such New Intellectual Property or New Tools,
               as applicable, and the Parties shall update Schedule F and
               Schedule E as appropriate.

      12.3.5   Notwithstanding anything in this Agreement to the contrary,
               [***]*.

12.4  License Rights Upon Termination:

      12.4.1   Except in the event of a termination pursuant to Section 3.1, or
               as otherwise agreed by the Parties through the use of Change
               Control Management with respect to New Intellectual Property and
               New Tools owned by Service Provider, Service Provider hereby
               grants to Customer [***]* to the extent permissible under the
               applicable third party agreements, the Service Provider Third
               Party Software [***]*, in each case being used to provide the
               Customer Services as of the date of expiration or termination of
               this Agreement and reasonably necessary for Customer to maintain
               substitute services after the termination or expiration of this
               Agreement.

      12.4.2   Customer's Use of the Service Provider Software and Service
               Provider Tools granted to Customer pursuant to Section 12.4.1,
               above, shall be subject to, and Customer shall comply with, the
               following terms and conditions:

               (a) The licenses granted to Customer pursuant to Section 12.4.1
                   with respect to Service Provider Software and Service
                   Provider Tools are "AS IS," and Service Provider shall have
                   no obligation to fix, maintain, enhance or update such
                   Software or Tools or provide Customer with any fixes,
                   maintenance, enhancements or updates thereto. Such licenses
                   are without representations or warranties of any kind and are
                   subject to the disclaimer set forth in Section 13.2.

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                                       26
<PAGE>   27

               (b) Service Provider Software and Service Provider Tools shall
                   (1) not be operated directly or indirectly by persons other
                   than Customer Associates or an Approved Service Provider, (2)
                   only be operated on equipment (i) owned or leased by Customer
                   or (ii) owned or leased by an Approved Service Provider, and
                   (3) only be Used in connection with the internal work of
                   Customer and solely for the benefit of Customer. "Approved
                   Service Provider" shall mean a third party providing services
                   to Customer that (A) has entered into a confidentiality
                   agreement in the form attached as Schedule M and (B) does not
                   compete directly with Service Provider.

               (c) Except as set forth in Section 12.4.2(b), above, at no time
                   shall Service Provider Software or Service Provider Tools or
                   its components or any modifications thereto be disclosed to
                   or used by third parties or sold, assigned, licensed, leased
                   or otherwise disposed of or commercially exploited or
                   marketed in any way, with or without charge. Except as may be
                   necessary for archival purposes, Customer shall not copy, and
                   shall not permit the copying by a third party of, such
                   Service Provider Software or Service Provider Tools in whole
                   or in part.

               (d) Upon Service Provider's request, Customer shall affix to all
                   copies of such Service Provider Software and Service Provider
                   Tools in Customer's possession any form of copyright or other
                   proprietary notice specified by Service Provider.

      12.4.3   The licenses granted to Customer and Service Provider pursuant to
               this Section 12.0 in respect of a component of Service Provider
               Software, Service Provider Tools, Customer Software and Customer
               Tools, as applicable, shall terminate (a) with respect to
               Customer, if Customer breaches the terms of such licenses or an
               Approved Service Provider breaches the terms of such license or
               the confidentiality agreement in the form of Schedule M executed
               by such Approved Service Provider pursuant to Section 12.4.2(b),
               and (b) with respect to Service Provider, if Service Provider or
               Service Provider Representatives breaches the terms of such
               licenses. Upon request after termination of such licenses, the
               Party whose licenses were terminated shall (1) deliver to the
               other Party a current copy of such component in the form in use
               as of such date and (2) destroy or erase all other copies of such
               component in such Party's possession.

12.5  Service Provider Tools: All Service Provider Tools shall be and shall
      remain the exclusive property of Service Provider, and Customer shall have
      no rights or interests in the Service Provider Tools except as expressly
      set forth in this Agreement. Customer hereby irrevocably assigns to
      Service Provider any and all rights or interests in the Service Provider
      Tools. Service Provider makes no representations or warranties hereby with
      respect to the Service Provider Tools. Nothing contained in this Agreement
      shall restrict Service Provider from the use of any Tools that Service
      Provider owns, develops for Customer or has access to under this
      Agreement.

1.56  Customer Tools:

      12.6.1   Notwithstanding anything to the contrary in this Agreement,
               Customer shall retain all right, title and interest in and to any
               and all Customer Tools. Nothing contained in this Agreement shall
               restrict Customer from the use of any Customer Tools.

      12.6.2   All Customer Tools shall be and shall remain the exclusive
               property of Customer, and Service Provider shall have no rights
               or interests in the Customer Tools except as described in this
               Agreement. Customer hereby grants to Service Provider, at no cost
               to Service Provider, a nonexclusive right to access and Use
               solely in connection with the provision of the Customer Services
               the Customer Tools. Notwithstanding the foregoing, Service
               Provider shall use Change Control Management to make any material
               changes to Customer Tools.

      12.6.3   In the event Customer does not comply with any of its obligations
               set forth in this Section 12.6, Service Provider shall be excused
               from its obligation to perform the Customer Services, including
               Service Provider's obligation to meet the Service Levels, to the
               extent that its inability to perform the Customer Services or
               meet the Service Levels is caused by Customer's failure to comply
               with such obligations. Service Provider hereby irrevocably
               assigns to Customer any and all rights or interests in the
               Customer Tools.

                                       27
<PAGE>   28

12.7  Rights in Residuals: Nothing contained in this Agreement shall restrict
      either Party from the use of any ideas, concepts, know-how, methodologies,
      processes, technologies, algorithms or techniques relating to the Customer
      Services that such Party, individually or jointly, owns prior to the
      Agreement Date, or develops or discloses under this Agreement, or develops
      or obtains independently during the Term, provided that in doing so such
      Party does not breach its obligations of confidentiality or infringe the
      intellectual property rights of the other Party or third parties who have
      licensed or provided materials to the other Party. Except for the license
      rights contained in this Section 12.0, neither this Agreement nor any
      disclosure made hereunder grants any license to either Party under any
      patents or copyrights of the other Party. Each Party reserves all rights
      in its ideas, concepts, know-how, methodologies, processes, technologies,
      algorithms, techniques and other intellectual property of every kind and
      description (except as otherwise expressly agreed) and no provision of
      this Agreement shall be construed to transfer any of such Party's rights
      in such intellectual property.

12.8  License to Service Provider for Customer Proprietary Software and Customer
      Tools:

      12.8.1   In addition to Service Provider's rights under Section 12.1.1,
               Customer hereby grants to Service Provider [***]* (either now or
               in the future), including the provision of services to any
               customer of Customer and any other use or commercialization.
               Service Provider shall only transfer the license referred to in
               this Section 12.8 to the following transferees: (a) any Service
               Provider Affiliate, (b) [***]* and (e) any entity to which any of
               the licenses to the Customer Proprietary Software, Customer Tools
               or New Intellectual Property owned by Customer is transferred in
               connection with a business relationship between Service Provider
               and such transferee that will survive the transfer, provided that
               the license granted by this Section 12.8 will terminate with
               respect to any Customer Proprietary Software, Customer Tools or
               New Intellectual Property owned by Customer that is transferred
               to a transferee that satisfies only the requirements of this
               clause (e) at the time the business relationship between Service
               Provider and such transferee terminates. To the extent Customer
               cannot grant a [***]* as provided above, the Parties will use
               Change Control Management to address acquiring such a [***]* for
               Service Provider.

      12.8.2   During the Term, neither Customer nor Customer Affiliates shall:

               (a) access or Use the Customer Proprietary Software, the Customer
                   Tools or New Intellectual Property owned by Customer, except
                   as may be necessary to perform its internal processes or
                   functions;

               (b) [***]*

               (c) [***]*

13.0  MUTUAL REPRESENTATIONS AND WARRANTIES; DISCLAIMERS:

13.1  Mutual Representations and Warranties: Each Party hereby represents and
      warrants that:

      (a) it has all requisite corporate power and authority to enter into this
          Agreement and to carry out the transactions contemplated hereby;

      (b) the execution, delivery and performance of this Agreement and the
          consummation of the transactions contemplated hereby and thereby by
          the Party (1) have been duly authorized by all requisite corporate
          action on the part of such Party and (2) do not violate the terms of
          any law, regulation, or court order to which such Party is subject or
          the terms of any material agreement to which the Party or any of its
          assets may be subject;

      (c) this Agreement has been duly executed and delivered by such Party and
          (assuming the due authorization, execution and delivery hereof by the
          other Party) is a valid and binding obligation of such Party,
          enforceable against it in accordance with its terms;

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                                       28
<PAGE>   29

      (d) it shall perform its responsibilities under this Agreement in a manner
          that does not, to the knowledge of the applicable Party, infringe, or
          constitute an infringement or misappropriation of, any patent, trade
          secret, copyright or other intellectual property right of any third
          party;

      (e) it shall engage in business continuity planning with the other Party
          to, and use reasonable efforts to, avoid disruptions to each Party's
          respective business;

      (f) it is not subject to any pending or threatened litigation or
          governmental action which could interfere with such Party's
          performance of its obligations hereunder;

      (g) it is in good standing under the laws of its state of formation, and
          is, or will be, qualified to do business as a foreign corporation in
          each other states where such qualification is necessary in order for
          it to comply with its obligations under this Agreement;

      (h) it is either the owner of its Machines, its Software and its Tools, or
          is authorized by the owner to include such Machines, Software and
          Tools under this Agreement, subject to obtaining the Consents; and

      (i) it is authorized to permit the other Party to access and use the
          locations used in connection with performing the Customer Services.

13.2  Disclaimers:

      13.2.1   Service Provider Disclaimers: SERVICE PROVIDER DOES NOT WARRANT
               THE ACCURACY OF ANY ADVICE, REPORT, DATA OR OTHER PRODUCT
               DELIVERED TO CUSTOMER THAT IS PRODUCED WITH OR FROM CUSTOMER DATA
               OR SOFTWARE PROVIDED BY CUSTOMER; SUCH PRODUCTS ARE DELIVERED "AS
               IS", AND SERVICE PROVIDER SHALL NOT BE LIABLE FOR ANY INACCURACY
               THEREOF IN EACH CASE EXCEPT FOR ANY INACCURACIES CAUSED BY
               SERVICE PROVIDER OR SERVICE PROVIDER REPRESENTATIVES. EXCEPT AS
               EXPRESSLY SET FORTH IN SECTION 13.1, SERVICE PROVIDER DOES NOT
               MAKE ANY OTHER WARRANTIES OR REPRESENTATIONS WITH RESPECT TO THE
               CUSTOMER SERVICES OR MATERIAL LICENSED BY SERVICE PROVIDER TO
               CUSTOMER AND EXPRESSLY DISCLAIMS ALL OTHER REPRESENTATIONS AND
               WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY IMPLIED WARRANTIES
               OF MERCHANTABILITY AND FITNESS FOR A SPECIFIC PURPOSE. SERVICE
               PROVIDER DOES NOT WARRANT THAT PERFORMANCE OF THE CUSTOMER
               SERVICES OR THE MATERIAL LICENSED BY SERVICE PROVIDER TO CUSTOMER
               SHALL BE UNINTERRUPTED OR ERROR-FREE, OR THAT ALL ERRORS IN THE
               CUSTOMER SERVICES SHALL BE CORRECTED. EXCEPT AS EXPRESSLY SET
               FORTH IN THIS AGREEMENT, SERVICE PROVIDER IS NOT ASSUMING ANY
               OBLIGATIONS OR LIABILITIES, INCLUDING ANY OBLIGATION OR LIABILITY
               FOR ANY FIDUCIARY RESPONSIBILITIES OR LENDER LIABILITIES.
               NOTWITHSTANDING THE FOREGOING, TO THE EXTENT SERVICE PROVIDER
               MANAGES THIRD PARTY CONTRACTS THAT ADMINISTER CUSTOMER'S LENDING
               POLICIES AND PROCEDURES, SERVICE PROVIDER SHALL MANAGE EACH SUCH
               THIRD PARTY CONTRACT IN ACCORDANCE WITH THE SERVICE REQUIREMENTS
               OF SUCH THIRD PARTY CONTRACT. FAILURES BY SERVICE PROVIDER TO
               MANAGE THIRD PARTY CONTRACTS IN ACCORDANCE WITH THE PRECEDING
               SENTENCE SHALL BE CONSIDERED VENDOR MANAGEMENT PERFORMANCE
               FAILURES IN ACCORDANCE WITH SCHEDULE B.

      13.2.2   Customer Disclaimers: CUSTOMER DOES NOT WARRANT THE ACCURACY OF
               ANY ADVICE, REPORT, DATA OR OTHER PRODUCT DELIVERED TO SERVICE
               PROVIDER THAT IS PRODUCED WITH OR FROM SOFTWARE PROVIDED BY
               SERVICE PROVIDER; SUCH PRODUCTS ARE DELIVERED "AS IS", AND
               CUSTOMER SHALL NOT BE LIABLE FOR ANY INACCURACY THEREOF IN EACH
               CASE EXCEPT FOR ANY INACCURACIES CAUSED BY CUSTOMER OR CUSTOMER
               REPRESENTATIVES; PROVIDED, HOWEVER, TO THE EXTENT OF ANY FAILURES
               OR INACCURACIES OF THE FOREGOING, SERVICE PROVIDER SHALL BE
               RELIEVED OF ITS OBLIGATIONS UNDER THIS AGREEMENT. EXCEPT AS
               EXPRESSLY SET FORTH IN SECTION 13.1, CUSTOMER DOES NOT MAKE ANY
               OTHER WARRANTIES OR REPRESENTATIONS WITH RESPECT TO THE MATERIAL
               LICENSED BY CUSTOMER TO SERVICE PROVIDER AND EXPRESSLY DISCLAIMS
               ALL OTHER REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED,
               INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS
               FOR A SPECIFIC PURPOSE.

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<PAGE>   30

14.0  LAWS AND REGULATIONS:

14.1  Each Party shall obtain, maintain and comply with all consents,
      permissions, permits, approvals and assurances of whatever nature,
      including governmental approvals, applicable in the case of Service
      Provider to the performance of, and, in the case of Customer, the receipt
      and use, of the Customer Services and such Party's payment obligations.

14.2  Each Party covenants and agrees that it shall comply with all Laws
      applicable to such Party.

15.0  DATA AND REPORTS:

15.1  Provision of Data: Customer shall supply to Service Provider, in
      connection with the Customer Services, required data in the form and on
      such time schedules as may be agreed upon by Service Provider and Customer
      ("Customer Data") in order to permit Service Provider to perform the
      Customer Services in accordance with the terms of this Agreement,
      including the Service Levels. All Customer Data is, or shall be, and shall
      remain the property of Customer.

15.2  Production of Reports:

      15.2.1   Production of Reports During and After the Transition Period.
               With respect to each Process and commencing on the related
               Process Effective Date, Service Provider shall provide to
               Customer the same reports being generated by Customer immediately
               prior to such Process Effective Date. During the Transition
               Period, the Parties shall use Change Control Management to
               mutually agree to any adjustments with respect to such reports or
               to add any additional reports, and shall document such
               adjustments and additions in Schedule R, including the content,
               frequency and delivery dates for such reports. Failure by Service
               Provider to deliver all reports mutually agreed upon pursuant to
               the Transition Plan, but in no event later than [***]*, shall be
               considered a failure to meet the Key Performance Indicator
               relating to reports as set forth on Schedule B, with applicable
               Fees at Risk.

      15.2.2   Production of Reports Generally. Service Provider shall produce
               reports in accordance with Schedule R that are substantially
               accurate and substantially free of errors and omissions, to the
               extent the Customer Data and other information used to produce
               such reports was substantially accurate and substantially free of
               errors and omissions. Unless specified otherwise in Schedule R,
               any reports listed in Schedule R shall be due no later than ten
               business days after the end of the reporting period.

15.3  Inspection of Reports:

      15.3.1   Operational Reports. Customer shall use reasonable efforts to
               inspect and review the operational reports produced by Service
               Provider and supplied to Customer pursuant to Section 15.2, and
               shall provide Service Provider with notice of any errors or
               inaccuracies (a) in daily or weekly reports, [***]* of receipt of
               such reports, and (b) in monthly or other reports, [***]* after
               receipt of such reports. Service Provider shall provide Customer
               with such documentation and information as may be requested by
               Customer in order to verify the accuracy of the reports. If
               Customer fails to reject any such report within the applicable
               period, Customer shall be deemed to have accepted such reports.

      15.3.2   Performance Reports. In addition to the foregoing, the Service
               Provider Client Executive shall notify Customer through the
               account management procedures of any single material performance
               deviation or performance deviation trend documented in a
               performance report that is provided to Customer pursuant to
               Section 15.2 and of which the Service Provider Client Executive
               is aware.

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                                       30
<PAGE>   31

15.4  Correction of Errors:

      15.4.1   Service Provider shall work with Customer to, and Service
               Provider shall use commercially reasonable efforts to, promptly
               correct any material errors or inaccuracies in Customer Data and
               reports prepared by Service Provider as part of the Customer
               Services that have material impact, including fiduciary, Customer
               Associate or supplier impact. The Party responsible for any such
               errors shall pay for all mutually agreed upon costs associated
               with such correction.

      15.4.2   Upon request from Customer, Service Provider shall work with
               Customer to correct any errors or inaccuracies in Customer Data
               and reports prepared by Service Provider as part of the Customer
               Services that are not subject to Section 15.4.1. The Party
               responsible for any such errors shall pay for all mutually agreed
               upon costs associated with such correction.

15.5  Use of Reports: Subject to the terms of this Agreement (including Section
      16.0) and solely for Customer's uses, Customer may reproduce any
      documentation and reports prepared by Service Provider as part of the
      Customer Services.

16.0  CONFIDENTIALITY AND SECURITY:

16.1  General Obligations:

      16.1.1   To the extent applicable, commencing as of the Agreement Date,
               Service Provider shall comply with such information security and
               privacy standards and guidelines as being complied with by
               Customer as of the Agreement Date. In addition, prior to the
               first Process Effective Date, the Parties shall mutually agree to
               and document (not through Change Control Management) the detailed
               standards and guidelines (no less stringent than those in place
               as of the Agreement Date) with which Service Provider shall
               comply. Any changes from Customer practices as of the Agreement
               Date shall be addressed through Change Control Management.

      16.1.2   All Confidential Information relating to or obtained from
               Customer or Service Provider shall be held in confidence by the
               recipient to the same extent and in at least the same manner as
               the recipient protects its own confidential or proprietary
               information.

      16.1.3   Neither Customer nor Service Provider shall, and Customer and
               Service Provider shall cause their respective Representatives not
               to, Use, disclose, publish, release, transfer or otherwise make
               available Confidential Information of, or obtained from, the
               other in any form to, or for the use or benefit of, any person or
               entity without the disclosing Party's consent. In addition,
               Service Provider agrees to comply with and support enforcement of
               Customer's security standards governing information security of
               which Service Provider has notice. Subject to the provisions of
               Section 16.2, each of Customer and Service Provider shall,
               however, be permitted to disclose relevant aspects of the other's
               Confidential Information to its officers, directors, employees
               and Representatives, to the extent that such disclosure is not
               restricted under this Agreement, or any governmental approvals
               and only to the extent that such disclosure is reasonably
               necessary for the performance of its duties and obligations under
               this Agreement; provided, however, that the recipient shall be
               responsible for ensuring that such officers, directors, employees
               and Representatives abide by the provisions of this Agreement.

      16.1.4   Each Party acknowledges and agrees that title to and ownership of
               Confidential Information shall remain with the Party who
               disclosed such information, and that the Confidential Information
               disclosed pursuant to this Agreement is confidential and
               proprietary and constitutes valuable trade secret information of
               the disclosing Party. Upon the termination or expiration of this
               Agreement, or at any time upon the request of either Party
               (subject to the other Party being relieved of any of its
               obligations affected thereby), the other Party shall return all
               Confidential Information in its possession that exists in
               tangible form to the requesting Party or its Representatives.

16.2  Customer Information: Service Provider acknowledges that Customer has a
      responsibility to its customers to keep its Customer Information strictly
      confidential. Service Provider and Service Provider Representatives shall
      keep strictly confidential any customer records that Customer discloses or
      of which Service Provider or Service Provider

                                       31
<PAGE>   32

      Representatives become aware. In addition to the other requirements set
      forth in this Agreement regarding Confidential Information, Customer's
      Customer Information shall also be subject to the additional restrictions
      set forth in this Section 16.2.

      16.2.1   Neither Service Provider nor Service Provider's Representatives
               shall disclose or use Customer's Customer Information other than
               to carry out the purposes for which Customer or any Customer
               Affiliate disclosed such Customer Information to Service
               Provider.

      16.2.2   Neither Service Provider nor Service Provider's Representatives
               shall disclose any of Customer's Customer Information other than
               on a "need to know" basis and then only:

               (a) to Customer Affiliates;

               (b) to the Project Staff, provided that any member of the Project
                   Staff that is a nonaffiliated third party shall be subject to
                   (d) below;

               (c) to Service Provider Affiliates, provided that such Affiliates
                   shall be restricted in use and re-disclosure of such Customer
                   Information to the same extent as Service Proivider;

               (d) to Subcontractors of Service Provider, provided that such
                   Subcontractors shall have entered into a confidentiality
                   agreement in the form attached hereto as Schedule M;

               (e) to independent contractors, agents, and consultants
                   designated by Customer; or

               (f) pursuant to the exceptions set forth in 15 U.S.C. 6802(e) and
                   accompanying regulations, which disclosures are made in the
                   ordinary course of business.

16.3  Exclusions: The obligations in Section 16.1 and Section 16.2 shall not
      restrict any disclosure pursuant to any applicable Law or by order of any
      court or Governmental Authority (provided that the recipient shall (a)
      notify the disclosing Party of any, actual or threatened disclosure of
      which it has knowledge of legal compulsion of disclosure, and any actual
      legal obligation of disclosure immediately upon becoming so obligated and
      (b) cooperate with the disclosing Party's reasonable, lawful efforts to
      resist, limit or delay disclosure at the disclosing Party's expense) and,
      except to the extent that applicable Law provides otherwise, shall not
      apply with respect to information that (1) is independently developed by
      the recipient without violating the disclosing Party's proprietary rights
      as shown by the recipient's written records, (2) is or becomes publicly
      known (other than through unauthorized disclosure), (3) is disclosed (i)
      by the owner of such information to a third party free of any obligation
      of confidentiality or (ii) is disclosed to the receiving party without
      restriction on disclosure by a third party who has the lawful right to
      make such disclosure, (4) is already known by the recipient at the time of
      disclosure, as shown by the recipient's written records, and the recipient
      has no obligation of confidentiality other than pursuant to this Agreement
      or any confidentiality agreements entered into before the Agreement Date
      between Customer and Service Provider or (5) is rightfully received by a
      Party free of any obligation of confidentiality. [***]*

16.4  Independent Development and Acquisition: This Section 16.0 shall not be
      construed to limit either Party's right to independently develop or
      acquire products without use of the other Party's Confidential
      Information. The disclosing Party acknowledges that the receiving Party
      may currently or in the future be developing information internally, or
      receiving information from other parties, that is similar to the
      Confidential Information provided by the disclosing Party. Accordingly,
      nothing in this Section 16.0 will be construed as a representation or
      agreement that the receiving Party will not develop or have developed
      products, concepts, systems or techniques that are similar to or compete
      with the products, concepts, systems or techniques contemplated by or
      embodied in the Confidential Information of the disclosing Party, provided
      that the receiving Party does not violate any of its obligations under
      this Section 16.0 in connection with such development.

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                                       32
<PAGE>   33

16.5  Unauthorized Acts: Without limiting either Party's rights in respect of a
      breach of this Section 16.0, each Party shall:

      (a) promptly notify the other Party of any unauthorized possession, use or
          knowledge, or attempt thereof, of the other Party's Confidential
          Information by any person or entity that may become known to such
          Party, including any incidents involving a breach of security and any
          incidents that might indicate or lead to a threat to, or weakness in,
          security and any attempt to make unauthorized use of the Customer
          Services or the Systems;

      (b) promptly furnish to the other Party full details of the unauthorized
          possession, use or knowledge, or attempt thereof, and assist the other
          Party in investigating or preventing the recurrence of any
          unauthorized possession, use or knowledge, or attempt thereof, of
          Confidential Information;

      (c) cooperate with the other Party in any litigation and investigation
          against third parties deemed necessary by the other Party to protect
          its proprietary rights at the other Party's expense; and

      (d) promptly use commercially reasonable efforts to prevent a recurrence
          of any such unauthorized possession, use or knowledge, or attempt
          thereof, of Confidential Information.

      [***]*

16.6  Injunctive Relief: Each Party recognizes that its inappropriate disclosure
      or use of Confidential Information of the other Party may give rise to
      irreparable injury to such Party and acknowledges that remedies other than
      injunctive relief may not be adequate. Accordingly, each Party has the
      right to equitable and injunctive relief to prevent the unauthorized
      possession, use, disclosure or knowledge of any Confidential Information,
      as well as to such damages or other relief as is occasioned by such
      unauthorized possession, use, disclosure or knowledge.

16.7  Data Protection: In addition to any requirements set forth in this
      Agreement, in the event the Customer Services require the access to or use
      of personal data, each Party shall be responsible for taking all necessary
      steps required by applicable Law to ensure the protection of the privacy
      of such personal data to be accessed or used. In the event that applicable
      Law requires registration with or consents of a Governmental Authority,
      Customer shall register, or cause such registration, with such
      Governmental Authority, or obtain such consents, unless applicable Law
      otherwise requires

16.8  Publicity: [***]* neither Party shall use the other Party's logo,
      trademarks, name or refer to the other Party directly or indirectly,
      without such Party's consent in any media release, public announcement or
      public disclosure, except that such consent shall not be required for the
      listing of a Party's name in promotional or marketing materials, customer
      lists or business presentations and except for any disclosure required by
      Law.

17.0  AUDITS:

17.1  Audits Generally: Service Provider shall assist Customer in meeting its
      audit and regulatory requirements, as they relate to Service Provider and
      the Customer Services, to enable Customer, Government Authorities and
      Customer's Approved Auditors to conduct appropriate audits under this
      Agreement.

17.2  Audit Procedures:

      17.2.1   Upon request, at reasonable times during business hours, and upon
               at least five business days' prior notice to Service Provider,
               Customer and its external auditors that execute confidentiality
               agreements in the form of Schedule M ("Approved Auditors") shall
               have access to Customer's data and records, and to Service
               Provider records, in order to audit the accuracy of Service
               Provider's invoices and Service Provider's Systems, internal
               controls, security and Service Level performance. Customer and
               its Approved Auditors shall have no access to other Service
               Provider data and Systems, data of other

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* Confidential information has been omitted.

                                       33
<PAGE>   34

               Service Provider customers, or Service Provider internal or third
               party costs or cost structure (except to the extent necessary to
               audit the mutually agreed upon savings to Customer described in
               Schedule C). Approved Auditors shall observe such procedures as
               Service Provider may reasonably require to protect Service
               Provider Confidential Information, and that of its customers.
               Customer agrees that Approved Auditors shall perform entry and
               exit interviews, and Customer agrees to provide Service Provider
               with copies of applicable portions of audit reports. If requested
               by either Party, the Parties shall discuss the results of any
               audit performed pursuant to this Agreement and, if mutually
               agreed by the Parties use Change Control Management to address
               any Changes to the Customer Services. Notwithstanding the
               foregoing, (a) if Customer seeks to exercise its audit rights in
               the case of malfeasance, Customer shall immediately notify the
               Service Provider Client Executive who shall arrange for immediate
               access for Customer, Governmental Authorities and Customer's
               Approved Auditors, and (b) in the case of an audit to be
               performed by a Governmental Authority, Service Provider shall
               provide such Governmental Authority with access to all records
               and data required by Law, with or without prior notice, and such
               Governmental Authority shall not be required to execute a
               confidentiality agreement pursuant to this Agreement, but shall
               be bound by any confidentiality obligations imposed by Law. The
               Customer shall provide prior notice of audits by any Governmental
               Authority whenever and to the extent possible.

      17.2.2   Service Provider shall provide Customer and its Approved Auditors
               access to portions of Service Provider third party contracts that
               are directly related to the Customer Services (to the extent that
               such access is not prohibited under the applicable third party
               contract and provided that Service Provider may redact all
               financial information and any other information not directly
               related to the Customer Services, except to the extent necessary
               to audit the mutually agreed upon savings to Customer described
               in Schedule C). In addition, Customer and its Approved Auditors
               may request Service Provider to provide access to Service
               Provider Representatives, and, to the extent mutually agreed by
               Parties, such access shall be provided to the extent agreed to by
               such Service Provider Representatives, except as required by Law.

      17.2.3   Service Provider shall provide Customer with a copy of the
               portions of any SAS 70 audit of Service Provider as such audits
               are implemented in accordance with the Transition Plan and to the
               extent such portions are directly related to the Customer
               Services (provided Service Provider may redact all financial
               information and any other information not directly related to the
               Customer Services, except to the extent necessary to audit the
               mutually agreed upon savings to Customer described in Schedule
               C).

17.3  Audit Costs: If Service Provider's provision of services related to an
      audit or other review under this Section 17.0 requires use of additional
      resources which Service Provider would not otherwise use in the
      performance of the Customer Services (including support of audits of
      Customer's Services and third party benefit plans) then the Parties shall
      use Change Control Management to address any additional resources needed
      by Service Provider.

17.4  Financial Information: Service Provider shall, promptly upon Customer's
      request, furnish its publicly disclosed financial statements as required
      to be prepared by or for Service Provider in the ordinary course of its
      business for the purpose of determining Service Provider's ability to
      perform its duties hereunder. Furthermore, to the extent required by Law
      as indicated to Service Provider by Customer (and as not prohibited by SEC
      regulations) Service Provider shall notify Customer immediately [***]*,
      and Customer agrees not to acquire or dispose of (or otherwise take
      actions regarding) securities of Service Provider while in possession of
      such information, unless such information has been publicly disclosed.

17.5  Survival of Audit Rights: Customer's audit rights shall survive expiration
      or termination of this Agreement for the longer of (a) a period of [***]*
      and (b) the period required by applicable Law.

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<PAGE>   35

18.0  DISPUTE RESOLUTION:

18.1  Disputes: Any dispute arising under this Agreement shall be considered by
      [***]* of receipt of a notice from either Party specifying the nature of
      the dispute (a "Dispute Notice"); provided, however, it is not mandatory
      that a dispute relating to Section 16.0 be resolved in accordance with
      this Section.

18.2  Executive Review: Any dispute arising under this Agreement that cannot be
      resolved in accordance with Section 18.1 shall be considered in person or
      by telephone by the executives of each Party specified in the immediately
      succeeding sentence [***]* of receipt of Dispute Notice from either Party
      pursuant to Section 18.1; provided, however, it is not mandatory that a
      dispute relating to Section 16.0 be resolved in accordance with this
      Section. The executives considering any dispute pursuant to this Section
      18.2 shall be (a) with respect to Customer, (1) [***]* and (2) [***]* and
      (b) with respect to Service Provider, [***]*. Unless such executives of
      the Parties otherwise agree, either Party may pursue its rights and
      remedies under Section 18.3 after the occurrence of such meeting or
      telephone conversation or the passage of [***]* after the receipt of a
      Dispute Notice from either Party (as confirmed by the Party that sent such
      Dispute Notice).

18.3  Mediation: If the Parties are unable to resolve a dispute pursuant to
      Section 18.1 or Section 18.2, then either Party may refer the dispute to
      non-binding mediation before a mediator reasonably acceptable to both
      sides; provided, however, it is not mandatory that a dispute relating to
      Section 16.0 be resolved in accordance with this Section. Unless the
      Parties otherwise agree, either Party may pursue its rights and remedies
      under Section 18.4 if any dispute subject to mediation in accordance with
      this Section 18.3 is not resolved after the passage of [***]* after the
      receipt of a Dispute Notice from either Party (as confirmed by the Party
      that sent such Dispute Notice).

18.4  Arbitration: Any dispute not resolved pursuant to Section 18.1, Section
      18.2 or Section 18.3 shall be finally and exclusively resolved through
      binding arbitration; provided, however, it is not mandatory that a dispute
      relating solely to Section 16.0 be resolved in accordance with this
      Section 18.4. Unless otherwise agreed by the Parties, a dispute submitted
      to binding arbitration pursuant to this Section 18.4 shall be resolved
      using the following procedure:

      (a) the arbitration shall be conducted in accordance with [***]* and
          judgment upon the award rendered by the arbitrator may be entered in
          any court having jurisdiction thereof;

      (b) the arbitration shall be conducted in [***]*;

      (c) the arbitrator shall have a background in, and knowledge of, the
          information technology services industry and shall be an appropriate
          person based on the nature of the dispute;

      (d) each Party shall appoint [***]* perform the arbitration and resolve
          the dispute; and

      (e) [***]*

18.5  Equitable Relief: Notwithstanding anything to the contrary in this
      Agreement, but subject to the provisions of Section 22.6 and Section 22.7,
      either Party may, without inconsistency with this Agreement, seek from a
      court any interim or provisional relief that may be necessary to protect
      the rights or property of that Party pending the resolution of the claim.

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                                       35
<PAGE>   36

19.0  INDEMNITIES:

19.1  Indemnification for Infringement by Service Provider:

      19.1.1   Except for Customer's responsibilities under Section 19.3,
               Service Provider agrees to indemnify, defend and hold Customer
               harmless from and against any and all Losses incurred by Customer
               arising from any third party claim of United States, trade
               secret, copyright or patent infringement asserted against
               Customer and caused by Customer's use of the Service Provider
               Proprietary Software, Service Provider Tools or the New
               Intellectual Property. Service Provider shall have no liability
               for any claim of infringement that results from or relates to (a)
               any modification or enhancement to the Service Provider
               Proprietary Software, Service Provider Tools or the New
               Intellectual Property by Customer or any third party by or
               through Customer unless such modification or enhancement was
               specifically directed by or specifically approved by Service
               Provider, (b) any failure by Customer to implement or install the
               Service Provider Proprietary Software, Service Provider Tools or
               the New Intellectual Property as directed by Service Provider, or
               (c) the combination, operation or use of the Service Provider
               Proprietary Software, Service Provider Tools or New Intellectual
               Property with any other Software, Machines, materials, items,
               services or resources that the Service Provider Proprietary
               Software, Service Provider Tools or New Intellectual Property
               were not designed or intended to be used in combination with
               (unless such combination, operation or use was specifically
               directed by or specifically approved by Service Provider), if
               such actual or alleged infringement would not have arisen absent
               such combination, operation or use. Service Provider shall also
               pass through to Customer all warranties that Service Provider is
               entitled to pass through in respect of Service Provider Third
               Party Software.

      19.1.2   During the Term, in the event the Service Provider Software, the
               Service Provider Tools or the New Intellectual Property, in
               Service Provider's opinion, are likely to or do become the
               subject of a claim of infringement, Service Provider shall, as
               applicable and as agreed by the Parties, (a) modify, to the
               extent allowed, the Service Provider Software, the Service
               Provider Tools or the New Intellectual Property to be
               non-infringing and/or (b) obtain for Customer a license to
               continue using Service Provider Software, the Service Provider
               Tools or the New Intellectual Property. Notwithstanding the
               foregoing, but during the Term, in the event Service Provider is
               unable to effectuate the solutions referred to in clauses (a) and
               (b) of this Section 19.1.2 in a commercially reasonable manner,
               and Customer and Service Provider, after input from and
               discussion with Customer, are unable to agree on a commercially
               reasonable workaround, then Service Provider shall have the right
               at its sole option, and upon notice to Customer, to terminate any
               Customer Services that Service Provider cannot reasonably perform
               without using the Service Provider Software, the Service Provider
               Tools or the New Intellectual Property that Service Provider has
               determined is or is likely to be the subject of a claim of
               infringement. In the event any Customer Service is terminated
               pursuant to this Section 19.1.2, (1) the license granted pursuant
               to this Agreement with respect to the Service Provider Software,
               the Service Provider Tools or the New Intellectual Property that
               Service Provider has determined is or is likely to be the subject
               of a claim of infringement shall terminate, (2) Customer shall
               return such Service Provider Software, the Service Provider Tools
               or New Intellectual Property to Service Provider and (3) Service
               Provider shall refund to Customer a pro rata portion of the fee
               paid to Service Provider hereunder for such Service Provider
               Software, the Service Provider Tools or New Intellectual Property
               based on a straight line depreciation over a five-year term
               beginning on the delivery of such Service Provider Software, the
               Service Provider Tools or New Intellectual Property to Customer.
               In addition, in connection with any termination of Customer
               Services pursuant to this Section 19.1.2, (i) the Parties shall
               use Change Control Management to assess the overall impact on the
               Parties' respective obligations under this Agreement resulting
               from such termination, (ii) Service Provider shall provide
               Termination Assistance Services pursuant to Section 3.5 with
               respect to such Customer Services and to the extent such
               Termination Assistance Services can be provided without
               infringement (iii) Service Provider shall cooperate with (A)
               Customer, if Customer shall perform such terminated Customer
               Service, or (B) any new provider of such terminated Customer
               Service that executes a confidentiality agreement in the form
               attached hereto as Schedule M.

19.2  Other Indemnification By Service Provider: Service Provider agrees to
      indemnify, defend and hold Customer and Customer Representatives harmless,
      from and against any and all Losses solely to the extent arising from any
      third party claim (a) for bodily injuries to, including fatal injury or
      disease to, Service Provider employees, (b) for damage to tangible real or
      personal property of Service Provider and Service Provider employees
      arising from or in connection with this Agreement, (c) for any products or
      services provided by Service Provider to third parties,

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<PAGE>   37

      (d) for any breach or default by Service Provider in the performance of
      Service Provider's obligations under agreements with third parties, (e)
      for any interest and penalties resulting from a breach by Service Provider
      of [***]* and (f) resulting from the acts or omissions of Service Provider
      in fulfilling its obligations under this Agreement.

19.3  Indemnification By Customer: Customer agrees to indemnify, defend and hold
      Service Provider and Service Provider Representatives harmless, from and
      against any and all Losses solely to the extent arising from any third
      party claim (a) for bodily injuries to, including fatal injury or disease
      to, Customer Associates, (b) for damage to tangible real or personal
      property of Customer and Customer Associates arising from or in connection
      with this Agreement, (c) of United States trade secret, copyright or
      patent infringement asserted against Service Provider caused by Service
      Provider's Use of the Customer Proprietary Software (excluding any
      modifications or derivative works or New Intellectual Property developed
      by Service Provider under this Agreement, except to the extent based on
      specific specifications or resources provided by or specifically directed
      by Customer or Customer Representatives), the Customer Machines and any
      other resources or items provided to Service Provider or Service Provider
      Representatives by Customer or Customer Representatives, (d) for any
      amounts, including taxes, interest and penalties resulting from a breach
      by Customer of [***]*, (e) for any products or services provided by
      Customer or Customer Representatives to third parties, (f) any breach or
      default by Customer in the performance of Customer's obligations under
      agreements with third parties and (g) resulting from the acts or omissions
      of Customer in fulfilling its obligations under this Agreement.

19.4  Indemnification Procedures: Subject to the provisions of Section 19.5,
      below, if any third party claim is commenced against a Party entitled to
      indemnification under Section 19.1, Section 19.2 or Section 19.3 (the
      "Indemnified Party"), notice thereof shall be given to the Party that is
      obligated to provide indemnification (the "Indemnifying Party") as
      promptly as practicable. If, after such notice, the Indemnifying Party
      shall acknowledge that this Section applies with respect to such claim,
      then the Indemnifying Party shall be entitled, if it so elects, in a
      notice promptly delivered to the Indemnified Party, to immediately take
      control of the defense and investigation of such claim and to employ and
      engage attorneys reasonably acceptable to the Indemnified Party to handle
      and defend the same, at the Indemnifying Party's sole cost and expense.
      The Indemnified Party shall cooperate, at the cost of the Indemnifying
      Party, in all reasonable respects with the Indemnifying Party and its
      attorneys in the investigation, trial and defense of such claim and any
      appeal arising therefrom; provided, however, that the Indemnified Party
      may, at its own cost and expense, participate, through its attorneys or
      otherwise, in such investigation, trial and defense of such claim and any
      appeal arising therefrom. No settlement of a claim pursuant to this
      Section that involves a remedy other than the payment of money by the
      Indemnifying Party shall be entered into without the consent of the
      Indemnified Party. After notice by the Indemnifying Party to the
      Indemnified Party of its election to assume full control of the defense of
      any such claim, the Indemnifying Party shall not be liable to the
      Indemnified Party for any legal expenses incurred thereafter by such
      Indemnified Party in connection with the defense of that claim. If the
      Indemnifying Party does not assume full control over the defense of a
      claim subject to such defense as provided in this Section, the
      Indemnifying Party may participate in such defense, at its sole cost and
      expense, and the Indemnified Party shall have the right to defend the
      claim in such manner as it may deem appropriate, at the cost and expense
      of the Indemnifying Party.

19.5  Subrogation: With respect to any claim for which a Party is entitled to
      indemnification from the other Party pursuant to Section 19.1, Section
      19.2 or Section 19.3 (such Parties being the Indemnified Party and the
      Indemnifying Party, as set forth in Section 19.4), the Indemnified Party
      shall only be entitled to seek, or actually seek, indemnification from the
      Indemnified Party if, prior to seeking such indemnification, the
      Indemnified Party agrees that the Indemnifying Party shall be subrogated
      to the rights of the Indemnified Party with respect to the claims and
      defenses to which such indemnification relates.

19.6  Exclusive Remedy: THE INDEMNIFICATION RIGHTS OF EACH PARTY PURSUANT TO
      SECTION 19.1, SECTION 19.2 AND SECTION 19.3, INCLUDING INDEMNIFICATION
      WITH RESPECT TO ANY INFRINGEMENT OR CLAIMS OF INFRINGEMENT, SHALL BE THE
      SOLE AND EXCLUSIVE REMEDY OF SUCH INDEMNIFIED PARTY WITH RESPECT TO THE
      CLAIMS TO WHICH SUCH INDEMNIFICATION RELATES.

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20.0  DAMAGES:

20.1  Direct Damages:

      20.1.1   Assertion of Claims. ALL CLAIMS AND ACTIONS BETWEEN THE PARTIES
               RELATING TO, DIRECTLY OR INDIRECTLY, OR ARISING FROM THIS
               AGREEMENT (INCLUDING THE CUSTOMER SERVICES), HOWEVER CAUSED,
               REGARDLESS OF THE FORM OF ACTION AND ON ANY THEORY OF LIABILITY,
               INCLUDING CONTRACT, STRICT LIABILITY, NEGLIGENCE OR OTHER TORT,
               SHALL BE BROUGHT UNDER THIS AGREEMENT AND SHALL BE SUBJECT TO THE
               TERMS OF THIS AGREEMENT.

      20.1.2   Aggregate Limitation of Liability. EXCEPT AS SET FORTH IN SECTION
               20.3.1, SECTION 20.3.2 AND SECTION 20.3.3, THE ENTIRE LIABILITY
               OF A PARTY TO THE OTHER, IN EACH CASE ARISING FROM OR IN
               CONNECTION WITH THIS AGREEMENT, HOWEVER CAUSED, REGARDLESS OF THE
               FORM OF ACTION AND ON ANY THEORY OF LIABILITY, INCLUDING
               CONTRACT, STRICT LIABILITY, NEGLIGENCE OR OTHER TORT, SHALL BE
               LIMITED TO DIRECT DAMAGES NOT TO EXCEED, IN THE AGGREGATE FOR ALL
               CLAIMS AND ACTIONS AGAINST A PARTY, [***]* (WITH RESPECT TO EACH
               PARTY AND SUBJECT TO INCREASE PURSUANT TO THE NEXT SENTENCE, A
               PARTY'S "DIRECT DAMAGES CAP"). FOR EACH RENEWAL PERIOD, BUT ONLY
               IN THE EVENT A PARTY'S DIRECT DAMAGES CAP HAS BEEN REDUCED BY A
               CLAIM, SUCH PARTY'S DIRECT DAMAGES CAP SHALL BE [***]*; PROVIDED,
               HOWEVER, IN NO EVENT SHALL A PARTY'S DIRECT DAMAGES CAP EXCEED
               THE AMOUNT [***]*

      20.1.3   Claim Minimums. NOTWITHSTANDING SECTION 20.1.1, SECTION 20.1.2 OR
               ANY OTHER PROVISION OF THIS AGREEMENT, NEITHER PARTY SHALL BE
               LIABLE FOR OR SEEK RECOVERY FOR ANY DAMAGES FROM THE OTHER PARTY,
               ARISING FROM OR IN CONNECTION WITH ANY PARTICULAR CLAIM UNDER
               THIS AGREEMENT, TO THE EXTENT SUCH DAMAGES ARE LESS THAN [***]*;
               PROVIDED, THAT ONCE THE AMOUNT OF ALL SUCH CLAIMS OF ANY PARTY
               EXCEEDS [***]* IN ANY CALENDAR YEAR, THEN SUCH PARTY MAY SEEK
               RECOVERY FOR DAMAGES IN ACCORDANCE WITH THIS AGREEMENT AND THE
               OTHER PARTY SHALL BE LIABLE THEREFOR. THE PARTIES SHALL USE
               CHANGE CONTROL MANAGEMENT TO ADDRESS THE UNDERLYING CAUSES, IN
               THE EVENT (1) A SINGLE CLAIM FOR SUCH DAMAGES IS EQUAL TO OR
               GREATER THAN [***]* OR (2) THE AGGREGATE AMOUNT OF ALL CLAIMS FOR
               SUCH DAMAGES IS EQUAL TO OR GREATER THAN [***]* DURING ANY
               CALENDAR YEAR. IN CONNECTION WITH THE USE OF CHANGE CONTROL
               MANAGEMENT IN ACCORDANCE WITH THIS SECTION 20.1.3, THE PARTIES
               SHALL DISCUSS THE UNDERLYING CAUSES OF SUCH CLAIMS AND CONSIDER
               ANY APPROPRIATE MEASURES THAT CAN BE TAKEN TO MINIMIZE FUTURE
               CLAIMS.

20.2  Exclusion of Consequential Damages: EXCEPT AS SET FORTH IN SECTION 20.3.1,
      SECTION 20.3.2 AND SECTION 20.3.3, IN NO EVENT SHALL EITHER PARTY HAVE ANY
      LIABILITY, REGARDLESS OF THE FORM OF ACTION AND ON ANY THEORY OF
      LIABILITY, INCLUDING CONTRACT, STRICT LIABILITY, NEGLIGENCE OR OTHER TORT,
      FOR ANY LOSS OF INTEREST, PROFIT OR REVENUE BY THE OTHER PARTY OR FOR ANY
      CONSEQUENTIAL, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR EXEMPLARY
      DAMAGES SUFFERED BY THE OTHER PARTY, ARISING FROM OR RELATED TO THIS
      AGREEMENT, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH
      LOSSES OR DAMAGES.

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<PAGE>   39

20.3  Exclusions to Limitations:

      20.3.1   Uncapped Claims: THE LIMITATIONS AND EXCLUSIONS OF LIABILITY SET
               FORTH IN SECTION 20.1.2 AND SECTION 20.2 ARE NOT APPLICABLE TO
               THIRD PARTY CLAIMS TO THE EXTENT A PARTY IS ENTITLED TO
               INDEMNIFICATION UNDER (A) SECTIONS 19.1 AND SECTION 19.2, BUT,
               WITH RESPECT TO 19.2(F), ONLY TO THE EXTENT ARISING FROM SERVICE
               PROVIDER'S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, AND (B)
               SECTION 19.3, BUT, WITH RESPECT TO 19.3(G), ONLY TO THE EXTENT
               ARISING FROM CUSTOMER'S GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.

      20.3.2   Certain Third Party Claims Subject to Double Cap: TO THE EXTENT A
               PARTY IS ENTITLED TO INDEMNIFICATION FOR A THIRD PARTY CLAIM
               UNDER SECTION 19.2(F) OR 19.3(G) NOT COVERED BY SECTION 20.3.1
               [***]*.

      20.3.3   Claims of [***]*: NOTWITHSTANDING ANYTHING TO THE CONTRARY IN
               THIS AGREEMENT, TO THE EXTENT CUSTOMER IS ENTITLED TO
               INDEMNIFICATION UNDER THIS AGREEMENT RELATING TO A THIRD PARTY
               CLAIM BY [***]*, THE LIMITATIONS AND EXCLUSIONS SET FORTH IN
               SECTION 20.1.2 AND SECTION 20.2 SHALL NOT APPLY, BUT CUSTOMER
               SHALL ONLY BE ENTITLED TO RECOVER, IN THE AGGREGATE, DIRECT
               DAMAGES AND CONSEQUENTIAL DAMAGES UP TO [***]*.

      20.3.4   NOTWITHSTANDING ANYTHING IN THIS AGREEMENT TO THE CONTRARY, IN NO
               EVENT SHALL ONE PARTY BE LIABLE TO THE OTHER PARTY FOR ANY
               DAMAGES IF, AND TO THE EXTENT, CAUSED BY THE FIRST PARTY'S
               FAILURE TO PERFORM ITS RESPONSIBILITIES, AS SET FORTH IN THIS
               AGREEMENT. SUBJECT TO SECTION 20.3.1, SECTION 20.3.2 AND SECTION
               20.3.3, THE LIMITATIONS, IF ANY, AND EXCLUSIONS, IF ANY, SET
               FORTH IN THIS AGREEMENT APPLY TO EACH PARTY AND ITS
               REPRESENTATIVES AND REPRESENT THE MAXIMUM, IF ANY, AGGREGATE
               AMOUNT FOR WHICH EACH PARTY AND ITS REPRESENTATIVES ARE
               COLLECTIVELY RESPONSIBLE, AND ALL REFERENCES IN THIS SECTION 20.0
               SHALL INCLUDE SUCH PARTY'S REPRESENTATIVES.

      20.3.5   Except as set forth in Section 15.4, in no event shall Service
               Provider or Service Provider Representatives be responsible or
               liable for (a) any corruption, damage, loss or mistransmission of
               data, (b) the security of data during transmission via public
               telecommunications facilities or (c) the content of any data
               provided by Customer or Customer Representatives.

20.4  Acknowledgment: Service Provider and Customer each acknowledge that the
      limitations and exclusions set forth in this Agreement have been the
      subject of active and complete negotiations between the Parties and
      represent the Parties' agreement based upon the level of risk to Service
      Provider and Customer associated with their respective obligations under
      this Agreement and the payments made to Service Provider pursuant to this
      Agreement.

21.0  INSURANCE AND FINANCIAL ABILITY:

21.1  Service Provider Insurance: Service Provider shall at its own expense
      secure and maintain throughout the Term, the following insurance with
      companies satisfactory and acceptable to Customer acting reasonably and
      shall furnish to Customer certificates evidencing such insurance on or
      prior to the first Process Effective Date and naming Customer as an
      additional insured on the policies. Said certificates shall contain a
      provision whereby the policy and/or policies shall not be canceled or
      altered without at least 30 days prior notice to Customer. The insurance
      coverages and limits required to be maintained by Service Provider shall
      be primary to insurance coverage, if any, maintained by Customer.

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<PAGE>   40

      (a) Worker's Compensation Insurance which shall fully comply with the
          statutory requirements of all applicable state and federal laws and
          Employers' Liability Insurance which limit shall be [***]* per
          accident for Bodily Injury and [***]* per employee/aggregate for
          disease. Service Provider and its underwriter shall waive subrogation
          against Customer.

      (b) Commercial General Liability Insurance with a minimum combined single
          limit of liability of [***]* per occurrence per location and [***]*
          aggregate for bodily injury and/or death and/or property damage and/or
          personal injury. This shall include products/completed operations
          coverage and shall also include Broad Form Contractual coverage
          specifically for this Agreement.

      (c) Business Automobile Liability Insurance covering all owned, hired and
          non-owned vehicles and equipment used by Service Provider with a
          minimum combined single limit of liability of [***]* for injury and/or
          death and/or property damage.

      (d) Excess coverage with respect to the coverages referred to in clauses
          (a), (b) and (c) of this Section 21.1 with a minimum combined single
          limit of [***]* per occurrence. Notwithstanding the foregoing, Service
          Provider and Customer shall mutually agree on the type and amount of
          insurance coverage during the Adjustment Period.

      (e) Service Provider shall be responsible for Losses to Customer property
          and property of Customer's customers, directly or indirectly, and
          shall maintain Fidelity Bond coverage for the dishonest acts of its
          employees(1) in a minimum amount of [***]* during years one through
          three of the Term and (2) in a minimum amount of [***]* during years
          four through the remainder of the Term. Customer shall be named as
          "Loss Payee, As Their Interest May Appear," on such Fidelity Bond.
          Notwithstanding the foregoing, Service Provider and Customer shall
          mutually agree on the type and amount of insurance coverage during the
          Adjustment Period.

      (f) Errors and Omissions insurance covering Losses due to errors and
          omission of the Project Staff (1) in a minimum amount of [***]* in
          aggregate during years one through three of the Term and (2) in a
          minimum amount of [***]* in aggregate during years four through the
          remainder of the Term. Notwithstanding the foregoing, Service Provider
          and Customer shall mutually agree on the type and amount of insurance
          coverage during the Adjustment Period.

21.2  Financial Ability: Customer shall provide Service Provider access to a
      copy of the Annual Report provided to its stockholders [***]*.

21.3  Insurance Documentation: To the extent Service Provider obtains or
      maintains third party insurance pursuant to Section 21.1, Service Provider
      shall, furnish to Customer certificates of insurance or other appropriate
      documentation (including evidence of renewal of insurance) evidencing all
      coverages referenced in Section 21.1.

22.0  MISCELLANEOUS PROVISIONS:

22.1  Notices: Except as otherwise specified in this Agreement, all notices,
      requests, consents, approvals, agreements, authorizations,
      acknowledgements, waivers, proposals, amendments and other communications
      required or permitted under this Agreement shall be in writing and shall
      be deemed given when sent by facsimile to the facsimile numbers specified
      below and receipt is verified, or delivered by hand to the addresses
      specified below. A copy of any such notice sent by facsimile shall also be
      sent by express air mail on the date such notice is transmitted by
      facsimile to the addresses specified below. Either Party may change its
      address or facsimile number for notification purposes by giving the other
      Party 10 days' notice of the new address or facsimile number and the date
      upon which it shall become effective.

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<PAGE>   41

      Address for Notices: Service Provider      Address for Notices: Customer

      Exult, Inc.                                Bank of America Procurement
      401 North Tryon Street                     Services
      Charlotte, North Carolina  28255           _______________________________
      [***]*                                     _______________________________
      Telephone:_________________________        ATTN: _________________________
      Facsimile:_________________________        Agreement No.: 23191-001-001
                                                 Telephone:_____________________
                                                 Facsimile:_____________________

      With a copy to:                            With a copy to:
      Exult, Inc.                                [CUSTOMER CLIENT EXECUTIVE]
      4 Park Plaza, Suite 1000                   _______________________________
      Irvine, California  92614                  _______________________________
      [***]*                                     _______________________________
      [***]*                                     ATTN: _________________________
      [***]*                                     Telephone:_____________________
                                                 Facsimile:_____________________

22.2  Assignment and Third Party Beneficiaries: Neither Party may, without the
      consent of the other, assign this Agreement or any of its rights under
      this Agreement, in whole or in part, and may not delegate its obligations
      under this Agreement. Any such purported assignment or delegation in
      contravention of this Section shall be null and void. [***]* (c) assign
      its right to receive Fees under this Agreement as security or collateral
      for its obligations or the obligations of its affiliates and provide
      Customer with notice thereof. Each Party intends that this Agreement shall
      not benefit, or create any right or cause of action in or on behalf of,
      any person or entity other than the Parties.

22.3  Relationship: The Parties intend to create an independent contractor
      relationship and nothing contained in this Agreement shall be construed to
      make either Customer or Service Provider (or their respective
      Representatives) partners, joint venturers, principals, Representatives or
      employees of the other. No officer, director, employee or Service Provider
      Representative retained by Service Provider to perform work on Customer's
      behalf under this Agreement shall be deemed to be an employee of Customer
      or a Customer Representative. Neither Party shall have any right, power or
      authority, express or implied, to bind the other. Service Provider shall
      have the sole right to supervise, manage, contract, direct, procure,
      perform or cause to be performed, all work to be performed by Service
      Provider under this Agreement.

22.4  Severability and Waivers: If any provision of this Agreement is held by a
      court of competent jurisdiction to be contrary to Law, then the remaining
      provisions of this Agreement, if capable of substantial performance, shall
      remain in full force and effect. No delay or omission by either Party to
      exercise any right or power it has under this Agreement shall impair or be
      construed as a waiver of such right or power. A waiver by any Party of any
      breach or covenant shall not be construed to be a waiver of any succeeding
      breach or any other covenant. All waivers must be signed by the Party
      waiving its rights.

22.5  Survival: The terms of Section 3.4, Section 3.5, Section 3.6, Section 4.7,
      Section 5.1 through Section 5.5, Section 5.7 through Section 5.9, Section
      5.12, Section 11.3, Section 12.0, Section 13.2, Section 16.0, Section
      17.0, Section 18.0, Section 19.0, Section 20.0, Section 22.6, Section
      22.7, Section 22.9 and Section 22.13, and such other provisions that by
      their nature are necessary, shall survive the expiration or termination of
      this Agreement.

22.6  Governing Law: This Agreement and the rights and obligations of the
      Parties under this Agreement shall be governed by and construed in
      accordance with the Laws of California, without giving effect to the
      principles thereof relating to the conflicts of Laws.

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22.7  Sole and Exclusive Venue: Subject to the provisions of Section 16.0 and
      Section 18.0, each Party irrevocably agrees that any legal action, suit or
      proceeding brought by it in any way arising out of this Agreement must be
      brought solely and exclusively in United States District Court for the
      Central District of California or in the state courts of the State of
      California and irrevocably accepts and submits to the sole and exclusive
      jurisdiction of each of the aforesaid courts in personam, generally and
      unconditionally with respect to any action, suit or proceeding brought by
      it or against it by the other Party; provided, however, that this Section
      shall not prevent a Party against whom any legal action, suit or
      proceeding is brought by the other Party from seeking to remove such legal
      action, suit or proceeding, pursuant to applicable federal law, to the
      district court of the United States of America for the district and
      division embracing the place where the action is pending in the state
      courts of California, and in the event an action is so removed each Party
      irrevocably accepts and submits to the jurisdiction of the aforesaid
      district court. Each Party hereto further irrevocably consents to the
      service of process from any of the aforesaid courts by mailing copies
      thereof by registered or certified mail, postage prepaid, to such Party at
      its address designated pursuant to Section 22.1 of this Agreement, with
      such service of process to become effective 30 days after receipt of such
      mailing.

22.8  Force Majeure: If and to the extent that a Party's performance of any of
      its obligations pursuant to this Agreement is prevented, hindered or
      delayed by fire, flood, earthquake, elements of nature or acts of God,
      acts of war, terrorism, riots, civil disorders, rebellions, action or
      inaction of any governmental entity, revolutions, strikes, labor disputes,
      any acts or omissions by a third party, any third party products or any
      other cause beyond the reasonable control and without negligence of such
      Party, including material failures or fluctuations in electrical power,
      heat, light, air conditioning, telecommunications equipment, data
      processing systems, or ACH or other systems maintained by third parties or
      Governmental Authorities and utilized in the performance of the Customer
      Services, (each, a "Force Majeure Event"), then the non-performing,
      hindered or delayed Party shall be excused for such non-performance,
      hindrance or delay, as applicable, of those obligations affected by the
      Force Majeure Event for as long as such Force Majeure Event continues and
      such Party continues to use commercially reasonable efforts to recommence
      performance whenever and to whatever extent possible without delay,
      including through the use of alternate sources, workaround plans or other
      means. Upon the occurrence of a Force Majeure Event, each Party shall
      comply with its obligations under the Existing DRPs or any New DRPs, as
      applicable. The Party whose performance is prevented, hindered or delayed
      by a Force Majeure Event shall immediately notify the other Party of the
      occurrence of the Force Majeure Event and describe in reasonable detail
      the nature of the Force Majeure Event and discuss with the other Party the
      availability and feasibility of alternate sources, workaround plans and
      other means of restoring the affected Customer Services. If any Force
      Majeure Event prevents, hinders or delays performance of the Customer
      Services (even after resorting to the Existing DRPs or New DRPs, as
      applicable) for more than [***]*, Customer may procure such Customer
      Services from an alternate source agreed upon by the Parties, and,
      commencing on the [***]* after the commencement of a Force Majeure Event,
      Service Provider shall reimburse Customer for the costs and expenses
      incurred by Customer in procuring such alternate services, to the extent
      that those costs and expenses exceed the Fees for such Customer Services.
      If after [***]* after the commencement of a Force Majeure Event, Service
      Provider is not able to perform the Customer Services in accordance with
      this Agreement (including performance of its obligations under Section
      7.1) without material increased cost to Customer, then Customer may
      terminate the affected Process for cause and the Parties shall use Change
      Control Management to address the impact of such termination on the other
      Customer Services and the Fees covered under this Agreement.

22.9  Nonperformance: In the event either Party's performance of its obligations
      under this Agreement requires or is contingent upon the other Party's
      performance of an obligation under this Agreement, and such other Party,
      after receiving notice that it has not performed such obligation, delays
      or withholds such performance beyond the agreed-upon time period (or
      beyond [***]*, if a time period is not specified), the time for the
      performance of the notifying Party's obligations shall be extended for the
      period of such delay in, or withholding of, performance.

22.10 Environmental Initiative: Service Provider acknowledges that Customer
      encourages each vendor with which it enters into an agreement for the
      provision of goods or services to use, consistent with the efficient
      performance of such agreements, recycled paper goods and to implement and
      adhere to other environmentally beneficial policies and practices.

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22.11 Minority Business Development Initiative:

      22.11.1  Service Provider recognizes Customer's Business Development
               Initiative supporting Minority-Owned Business Enterprises and
               Women-Owned Business Enterprises and is committed to
               participation of Minority-Owned Business Enterprises and
               Women-Owned Business Enterprises in its procurement and
               professional services programs.

      22.11.2  To qualify as a Minority-Owned Business Enterprise or a
               Woman-Owned Business Enterprise under this Agreement, such
               business enterprise must be certified by an agency acceptable to
               Customer.

      22.11.3  Service Provider is not a Minority-Owned Business Enterprise or a
               Woman-Owned Business Enterprise. Within 90 days after the
               Agreement Date, the Parties shall meet to discuss a plan pursuant
               to which the Parties will work together to enable Service
               Provider to contribute to Customer's Minority Development
               Initiative in accordance with this Section 22.11.

      22.11.4  As part of the plan referred to in Section 22.11.3, as mutually
               agreed by the Parties, Service Provider shall either (a) use
               Minority-Owned Business Enterprises in connection with its
               provisions of the Customer Services in an amount to be mutually
               agreed upon by the Parties; (b) use Women-Owned Business
               Enterprises in connection with its provision of the Customer
               Services in an amount to be mutually agreed upon by the Parties;
               or (c) undertake such other activities as mutually agreed by the
               Parties that will enable Service Provider to contribute to
               Customer's Minority Development Initiative.

22.12 Right to Provide Customer Services: Except as provided in Section 4.1.3
      and Section 4.3.2, each Party recognizes that Service Provider personnel
      providing services to Customer under this Agreement, including the Project
      Staff, may perform similar services for others, and this Agreement shall
      not prevent Service Provider from using such personnel and any equipment
      used to provide Customer Services to Customer under this Agreement for
      such purposes.

22.13 Right to Subcontract:

      22.13.1  Each Party recognizes that Service Provider may subcontract, in
               its sole discretion, any of its obligations or responsibilities
               under this Agreement; provided, however, with respect to any
               subcontract (other than the Assigned Agreements) that [***]*,
               Service Provider shall obtain Customer's consent prior to
               subcontracting such Customer Services. Notwithstanding the
               immediately preceding sentence and except for the Subcontractors
               already being used by Service Provider as of the Agreement Date,
               Service Provider shall not permit any Subcontractor of Service
               Provider to perform any Customer Services unless and until
               Service Provider has entered into a subcontract with such
               Subcontractor containing provisions at least as favorable to
               Customer as those in this Agreement with respect to security,
               transitional assistance services, Confidential Information,
               Customer Data, intellectual property and other proprietary
               rights, and audit/inspection rights.

      22.13.2  Unless and to the extent otherwise agreed by the Parties, Service
               Provider shall be responsible for any failure by any
               Subcontractor of Service Provider or personnel of such
               Subcontractor to perform Customer Services in accordance with
               this Agreement or to comply with any duties or obligations
               imposed on Service Provider under this Agreement to the same
               extent as if such failure to perform or comply was committed by
               Service Provider.

      22.13.3  Service Provider shall comply with and shall cause all Service
               Provider Representatives to comply with all personnel, facility,
               safety and security rules and regulations and other reasonable
               instructions of Customer of which Service Provider has been given
               notice by Customer, when performing work at a Customer Service
               Location, and shall perform the Customer Services at the Customer
               Service Locations in such a manner as to avoid endangering the
               safety, or materially interfering with the convenience of,
               Customer, Customer Representatives and their respective
               customers.

------------------
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                                       43
<PAGE>   44

      22.13.4  Customer shall provide Service Provider with copies of such
               applicable safety and security rules and regulations as such
               safety and security rules and regulations are revised. Service
               Provider understands that Customer operates under various Laws
               that are unique to the security-sensitive banking industry. As
               such, persons engaged by Service Provider to provide Customer
               Services under this Agreement are held to a higher standard of
               conduct and scrutiny than in other industries or business
               enterprises. Service Provider understands and acknowledges that
               the Service Provider Representatives shall possess appropriate
               character, disposition and honesty conducive to the environment
               where Services are provided under this Agreement. Service
               Provider shall, to the extent permitted by Law, exercise
               reasonable and prudent efforts to comply with the security
               provisions of this Agreement.

22.14 Further Assurances: Each of the Parties acknowledges and agrees that,
      subsequent to the execution and delivery of this Agreement and without any
      additional consideration, each of the Parties shall execute and deliver
      any further legal instruments and perform any actions which are or may
      become necessary to effectuate the purposes of this Agreement.

22.15 Solicitation: Except as otherwise provided in Section 2.8 of Schedule T
      and in Schedule J, during the Term and for [***]* after the expiration or
      termination of this Agreement, neither Party shall directly solicit any
      employees of the other Party without such Party's consent; this shall not
      preclude the indirect solicitation of employees through general
      advertisements or recruiting efforts intended for the general public.

22.16 Negotiated Terms: The Parties agree that the terms and conditions of this
      Agreement are the result of negotiations between the Parties and that this
      Agreement shall not be construed in favor of or against any Party by
      reason of the extent to which any Party or its professional advisors
      participated in the preparation of this Agreement.

22.17 Consents, Approvals and Requests: Except as specifically set forth in this
      Agreement, all consents, approvals, notices, requests and similar actions
      to be given by either Party under this Agreement shall not be unreasonably
      withheld or delayed and each party shall make only reasonable requests
      under this Agreement.

22.18 Entire Agreement; Amendments; Counterparts: This Agreement represents the
      entire agreement between the Parties with respect to their subject matter,
      and there are no other representations, understandings or agreements
      between the Parties relative to such subject matter. No amendment to, or
      change, waiver or discharge of, any provision of this Agreement shall be
      valid unless signed by an authorized representative of each of the
      Parties. This Agreement may be executed in any number of counterparts,
      each of which shall be deemed an original, but all of which taken together
      shall constitute one single agreement between the Parties.

------------------
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                                       44
<PAGE>   45
PROPRIETARY AND CONFIDENTIAL                               BANK OF AMERICA/EXULT
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                               SERVICES AGREEMENT

                                   SCHEDULE A

                             DESCRIPTION OF SERVICES

                                      FINAL

<PAGE>   46

PROPRIETARY AND CONFIDENTIAL                               BANK OF AMERICA/EXULT
--------------------------------------------------------------------------------

                                TABLE OF CONTENTS

1 INTRODUCTION.............................................................1

2 HUMAN RESOURCES SERVICES.................................................2

  2.1 TOTAL COMPENSATION...................................................2
      2.1.1  Benefits......................................................2
      2.1.2  Payroll.......................................................2

  2.2 CUSTOMER ASSOCIATE DATA MANAGEMENT...................................2
      2.2.1  Customer Associate Data and Records Management................2
      2.2.2  Information Technology and Information Services ("IT")........3

  2.3 ORGANIZATION AND PEOPLE DEVELOPMENT..................................3
      2.3.1 Policy and Legal Compliance....................................3

3 FINANCE AND ACCOUNTING SERVICES..........................................3

  3.1 TRANSACTION PROCESSING...............................................3
      3.1.1  Accounts Payable ("AP").......................................3
      3.1.2  Travel and Expense (T&E) Claim Processing.....................4
      3.1.3  Asset Management Services.....................................4

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                                   SCHEDULE A

                             DESCRIPTION OF SERVICES

1   INTRODUCTION

    This Schedule describes certain duties, obligations and responsibilities of
    Service Provider and of Customer in performing the Services.

    Except where specifically set out in the Transition Plan, from the
    applicable Process Effective Date, Service Provider shall provide each
    Process included in the Services, (defined as Benefits, Payroll, Customer
    Associate Data and Records Management, Information Technology and
    Information Services, Policy and Legal Compliance, Accounts Payable, Travel
    and Expense Claim Processing and Asset Management Services) [***]*.

    1.1 "Client Service Centers" or "CSC" - as used in the Schedules, Client
    Service Centers means Service Providers locations from which Customer
    Services are provided.

    1.2 "Customer IT Domain" - shall mean the data processing infrastructure,
    servers, data communications equipment, local area networks, desktop
    equipment and support, common office environment, and wide area network
    facilities (including the link between the Service Provider IT Domain and
    the Customer IT Domain) operated and maintained by Customer and/or operated
    and maintained by third parties under third party contracts managed by
    Customer.

    1.3 "Service Provider IT Domain" - shall mean the CSC infrastructure, data
    processing infrastructure, servers, data communications equipment, local
    area networks, desktop equipment and support, common office environment, and
    wide area network facilities, operated and maintained by Service Provider
    and/or operated and maintained by Service Provider Subcontractors.

    Service Provider shall assume responsibility for each of the Processes set
    out in this Schedule on the applicable Process Effective Date. The following
    legend applies for all tables in this Schedule A.

                                  Table Legend

                         X    Performs Responsibility

                         A           Approves

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2   HUMAN RESOURCES SERVICES

    Service Provider and Customer will perform the Human Resources (HR) services
    as described in this Section 2.

    2.1 TOTAL COMPENSATION

        2.1.1 Benefits

              Benefits include [***]* and [***]* to Customer Associates. The
              function determines the appropriate competitive level and mix of
              benefits for Customer, including [***]*.

              [***]*

              [***]*

        2.1.2 Payroll

              Payroll processes include the collection of time and attendance
              data, management of Customer Associate earning and deductions,
              calculation of gross and net pay, processing Customer Associate
              payments, and responding to and resolving Customer Associate
              payroll issues and inquiries. Additionally, the payroll function
              will compute and file payroll related taxes, manage mandated
              deductions and perform the accounting transactions necessary to
              accumulate labor expenses at the detailed level including all
              general ledger interfaces.

              [***]*

              [***]*

    2.2 CUSTOMER ASSOCIATE DATA MANAGEMENT

        2.2.1 Customer Associate Data and Records Management

              Customer Associate Data and Records Management responsibilities
              include all activities necessary to capture, track, modify and
              report Customer Associate related electronic and physical data.
              Customer Associate Data includes data on active Customer
              Associates, inactive Customer Associates such as terminated, term
              vested, deceased, and annuitants, and appropriate non-Customer
              Associate populations.

              [***]*

              [***]*

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

        2.2.2 Information Technology and Information Services (IT)

              IT refers to the information technology environment within which
              the Processes operate. This section specifically refers to the
              hardware, software, and networks that enable the Processes
              addressed elsewhere within this document.

                  [***]*

                  [***]*

    2.3 ORGANIZATION AND PEOPLE DEVELOPMENT

        2.3.1 Policy and Legal Compliance

              Policy and Legal Compliance is the management of Customer's legal
              requirements and internal business policies across all HR
              processes.

              [***]*

              [***]*

3   FINANCE AND ACCOUNTING SERVICES

    3.1 TRANSACTION PROCESSING

        3.1.1 Accounts Payable (AP)

              Accounts Payable responsibilities include the set of activities
              that must be performed to ensure that Customer's legitimate
              financial obligations to its suppliers and vendors are fulfilled
              in a timely and accurate manner.

              [***]*

              [***]*

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        3.1.2 Travel and Expense (T&E) Claim Processing

              Travel and Expense Claim responsibilities include the set of
              activities that must be performed to ensure that Customer's
              legitimate financial obligations to reimburse its Customer
              Associates for business expenses incurred are fulfilled in a
              timely and accurate manner.

              [***]*

              [***]*

        3.1.3 Asset Management Services

              Asset management responsibilities include the set of activities
              that must be performed to ensure that Customer's assets are
              accurately reflected in the assets register and on the balance
              sheet, and that information regarding those assets is accurate and
              accessible to support decision making.

              [***]*

              [***]*

----------------
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                                       4

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PROPRIETARY AND CONFIDENTIAL                               BANK OF AMERICA/EXULT
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                               SERVICES AGREEMENT

                                   SCHEDULE B

                                 SERVICE LEVELS

                                      FINAL

<PAGE>   52

PROPRIETARY AND CONFIDENTIAL                               BANK OF AMERICA/EXULT
--------------------------------------------------------------------------------

                                TABLE OF CONTENTS

1  INTRODUCTION.............................................................1

2  PRINCIPLES GOVERNING SERVICE LEVELS......................................1

3  PROCESS..................................................................1

4  FEES AT RISKS............................................................2

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                                   SCHEDULE B

                                 SERVICE LEVELS

1   INTRODUCTION

    This Schedule describes the principles and parameters governing the Service
    Levels that will be measured. This Schedule also describes how such Service
    Levels shall be established.

    There are two types of Service Levels that shall be defined, measured and
    reported:

    1.1 Key Performance Indicators (KPIs) - Service Levels that must be met to
        avoid a significant financial or business impact to Customer; and

    1.2 Reporting Service Levels (RSLs) - These measure Service Provider's
        performance of the Services using a range of quantitative and
        qualitative Service Levels.

    The process for initially establishing these Service Levels is described in
    Section 3 of this Schedule.

2   PRINCIPLES GOVERNING SERVICE LEVELS

    2.1 Service Levels shall be used to measure Service Provider's performance
        of the Services set out in Schedule A of this Agreement.

    2.2 Service Levels shall be based on objective and clearly defined
        measurable criteria.

    2.3 A limited number of Service Levels shall be designated as KPIs as
        mutually agreed by the Parties.

    2.4 Service Levels are designed to measure quality and cost issues that are
        clearly identifiable by Customer business users.

    2.5 Service Provider's performance of the Services at the Service Levels is
        subject to Customer performing its obligations and responsibilities
        under this Agreement.

3   PROCESS

    Prior to the Agreement Date, the parties have agreed on the KPI Service
    Level measurements, target metrics and process weightings, as well as a
    representative list of RSL measurements identified below. Service Level
    metrics shall be determined following the Agreement Date in accordance with
    the process identified below.

    3.1 KPIs

        3.1.1 [***]*

----------------
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        3.1.2 KPI Process Weightings

              Customer shall assign each KPI a weighting of no less than [***]*
              and no greater than [***]*. The total KPI process weighting for
              all KPI Service Levels shall equal [***]*.

        3.1.3 Key Performance Indicator Table

              [***]*

              Service Provider shall have no liability [***]* those systems,
              hardware or other technical infrastructure supplied or controlled
              by Service Provider under this Agreement.

    3.2 RSLs

        Below is a representative list of RSLs that will be adjusted and agreed
        between the Parties during the [***]* validation period following each
        Process Effective Date. After the [***]* validation period, the revised
        RSL measurements and metrics shall be implemented and reported on an
        on-going basis.

        [***]*

        3.2.1 Reporting Service Level Table

        Any requests for additional RSLs following the [***]* validation period
        shall be subject to Change Control Management and the Parties recognize
        that an appropriate equitable adjustment to the Fees may be necessary to
        implement such RSLs.

   3.3  ANNUAL SERVICE LEVELS REVIEW

        The steering committee (1) shall review the Service Levels annually, (2)
        use Change Control with respect to any Service Levels that require
        periodic adjustment pursuant to this Agreement or are no longer
        appropriate because of an increase, decrease or change to the Services,
        shall adjust the Service Levels and (3) with respect to all other
        Service Levels, may adjust the Service Levels for the subsequent
        contract year. In addition, either Party may, at any time upon notice to
        the other Party, initiate negotiations to review and, upon agreement,
        adjust any Service Level which such Party in good faith believes is
        inappropriate. [***]*

4   FEES AT RISK

    4.1 RSLs shall not be subject to Fees At Risks.

    4.2 [***]* the applicable Fees At Risks as set out in Schedule C or [***]*
        available as outlined in Section 7.3.1.

    4.3 Failure by Service Provider to meet the KPIs resulting from a single
        event shall constitute a single failure by Service Provider to meet the
        KPIs. If a single event causes multiple failures to meet the KPIs,
        Service Provider's liability [***]* for a single failure by Service
        Provider to meet the KPIs [***]* as outlined in Section 7.4.(b) of the
        Agreement.

    4.4 Applicable Fees At Risks for missed KPIs, except for Vendor Management
        KPIs, shall be calculated on a [***]* and [***]*. Applicable Fees At
        Risks for the Vendor Management KPI shall be calculated on an [***]*.

    4.5 Service Provider shall be allowed [***]* KPI within each [***]*
        reconciliation period.

----------------
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                                       2
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                               SERVICES AGREEMENT

                                   SCHEDULE C

                                      FINAL

                                FEES AND CHARGES

<PAGE>   56

PROPRIETARY AND CONFIDENTIAL                           CUSTOMER/SERVICE PROVIDER
--------------------------------------------------------------------------------

1.  INTRODUCTION.............................................................1

2.  DEFINITIONS..............................................................1

3.  CUSTOMER BASELINE SPEND VERIFICATION.....................................2

4.  CHARGING METHODOLOGY.....................................................3

    4.1    BASELINE CHARGES..................................................3
    4.2    ARCS/RRCS.........................................................5
    4.3    FEES AT RISK......................................................6

5.  PASS THROUGH EXPENSES AND OTHER CHARGES..................................7

    5.1    PASS THROUGH EXPENSES.............................................7

6.  INVOICING................................................................7

7.  TERMINATION..............................................................8

    7.1    TERMINATION FOR CONVENIENCE.......................................8
    7.2    TERMINATION FOR CHANGE OF CONTROL.................................8
    7.3    TERMINATION FOR CAUSE.............................................8
    7.4    OTHER TERMINATION FEES............................................8

8.  COST OF LIVING ADJUSTMENT................................................8

9.  CONTRACT MINIMUMS........................................................8

10. NON-LABOR RELATED SYSTEMS AND OTHER CHARGES..............................8

    10.1 NON-LABOR RELATED SYSTEMS AND OTHER CHARGES TO SERVICE PROVIDER.....9

11. ASSUMPTIONS..............................................................9

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1.  INTRODUCTION

This Schedule describes the methodology for determining the charges to be paid
by Customer to Service Provider for the performance by Service Provider of its
obligations under this Agreement as well as the associated processes for
invoicing Customer for such charges. In addition, this Schedule identifies
charges to be paid by Service Provider for other services provided by Customer
in support of the Services.

2.  DEFINITIONS

Unless otherwise specified, any capitalized terms that are not defined in this
Schedule shall have the meanings assigned to them in this Agreement. The
following terms shall have the meanings set out below:

"Actual Resource Units" means the actual volumes of Services delivered with
respect to a Resource Unit Category, calculated in accordance with Section
4.2.1. of this Schedule.

"Additional Resource Charge" or "ARC" means the incremental charges payable by
Customer in addition to the Baseline Charges when Service Provider delivers
volumes Services with respect to Resource Unit Categories that exceeds the upper
limit for the applicable Baseline Volumes.

"Associates Served" means any Customer Associates(or, where appropriate, retiree
or temporaryemployee) supported by Service Provider or eligible to receive
Services from Service Provider, measured monthly on the last business day of the
month from the applicable database.

"Band" means, with respect to each Resource Unit Category, the range of volumes
of Service that Service Provider will deliver that are greater than or less than
the Baseline Volume related to such Resource Unit Category as set forth Table
4.2.1 of this Schedule and subject to adjustment by verification.

"Baseline Charges" means the amounts, [***]* to Service Provider, consisting of
the sum of [***]*, plus [***]*, in each case determined for each Process as of
the Process Effective Date related to such Process and subject to adjustment by
verification.

"Baseline Volume" means with respect to [***]* and (b) for all other Resource
Unit Categories, the [***]*, as set forth in Table 4.2.1.1 of this Schedule and
subject to adjustment by verification.

"Contract Year" means each 12-month period commencing on the Agreement Date and
each anniversary of the Agreement Date.

"Customer Baseline Spend" means [***]*.

"Electronic Invoices" means Associates Served electronically processed invoices
including recurring invoices and automated travel and expense reports.

"Fees at Risk" means an amount to be credited or paid to Customer, at the
Customer's option, in the event of an unexcused failure by Service Provider to
achieve a Key Performance Indicator as specified in Schedule B.

"Full-Time Equivalent" or "FTE" means [***]*.

"HR, AP, and IT Costs" means [***]*.

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"HR, AP, and IT Labor Costs" means [***]* as identified in Table 4.1.1.1.

"HR, AP and IT Other Costs" means [***]* as identified in Table 4.1.3.1 ("HR, AP
and IT Non-Labor-Related Other Costs").

"IT" means the Information Technology and Information Services specified in
Section [2.2.2] of Schedule A of this Agreement.

"Manual Checks" means payment requests requiring special processing, handling,
and payments sent by couriers.

"Major Enhancement" means application changes with an estimated effort of more
than [***]*.

"Minimum Payment" means the minimum annual payments described by Section 9 of
this Schedule.

"Minor Enhancement" means application changes with an estimated effort of
[***]*."Payroll Advises" means any paycheck, direct deposit and other electronic
form of payment caused to be issued by Service Provider in the performance of
its payroll responsibilities as defined in Section 2.1.2 of Schedule A.

"Person-Day" means [***]*.

"Payroll Advises" means any paycheck, direct deposit and other electronic form
of payment caused to be issued by Service Provider in the performance of its
payroll responsibilities as defined in Section 2.1.2 of Schedule A.

"Process Effective Date" means, with respect to any Process, the date on which
Service Provider assumes management of and becomes responsible for such Process.

"Project FTEs" means the number of FTEs included in the Baseline Charges that
are assigned to complete and support the In-Flight Projects described in
Schedule H. The number of Project FTEs as of the Agreement Date is [***]*;
provided, however, that the Parties may use Change Control Management to adjust
the number of Project FTEs.

"Reduced Resource Charge" or "RRC" means the incremental credits to Customer
that apply when Service Provider delivers volumes of Service with respect to a
Resource Unit Category that are the lower limits for the related Baseline
Volume.

"Resource Unit Category" means each Service for which (i) there is a Baseline
Volume and (ii) Actual Resource Units are measured, as identified in Table
4.2.1.1

"Significant Event" means any event or series of events that results in a net
increase or decrease in the number of Customer Associates of [***]*

3.  CUSTOMER BASELINE SPEND VERIFICATION

During the [***]* period following the Agreement Date, the Parties shall verify
Customer Baseline Spend, including all categories of HR, AP and IT Costs. This
shall include (i) verification of salaries of staff transferred to Service
Provider, (ii) discussions with or otherwise questioning knowledgeable members
of Customer's HR and AP staff concerning Customer operations and
responsibilities, (iii) review of Third Party Contracts to confirm assignability
and cost, (iv) validation of rates and associated charges from Customer, (v)
confirmation of the numbers of FTEs engaged in the performance of the Services
and (vi)

------------------------
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PROPRIETARY AND CONFIDENTIAL                           CUSTOMER/SERVICE PROVIDER
--------------------------------------------------------------------------------

confirmation of baseline volumes Upon completion of verification, this
Schedule will be amended by mutual agreement to adjust Customer Baseline Spend,
HR, AP, and IT Costs, and termination fees associated with termination for
convenience pursuant to Section 3.2.3 of the Agreement, as appropriate, and the
Parties shall use Change Control Management to assess the impact on any other
Schedule of any such adjustment. Any disputes between the Parties concerning
verification shall be resolved in accordance with Section 18.0. of this
Agreement. Adjustments determined from verification shall be retroactive to the
Agreement Date.

4.  CHARGING METHODOLOGY

4.1 BASELINE CHARGES

Service Provider's Baseline Charges payable by Customer and are based on [***]*.
During the first Contract Year, Baseline Charges shall commence by Process based
on the Process Effective Date as identified in Section 4.1.7 of this Schedule.
Once the Process Effective Date has occurred, Baseline Charges will be invoiced
[***]*. Service Provider's Baseline Charges for each calendar quarter shall
equal:

    [***]*

    [***]*

    4.1.1 Allocation of HR, AP and IT Labor Costs Baseline Charges Among
          Processes

    HR, AP and IT Labor Costs are allocated among Processes as follows:

                            HR, AP AND IT LABOR COSTS

                                  TABLE 4.1.1.1

    [***]*

    * Commencing during the first month of the second Contract Year

    4.1.2 Allocation of HR, AP, and IT Labor Related Other Costs

    HR, AP and IT Labor Related Other Costs are allocated among Processes as
    follows:

                    HR, AP, AND IT LABOR RELATED OTHER COSTS

                                  TABLE 4.1.2.1

    [***]*

    * Commencing during the first month of the second Contract Year

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    4.1.3 HR, AP and IT Non-Labor Related Other Costs

    HR, AP and IT Non-Labor Related Other Costs are allocated among Processes as
    follows:

                  HR, AP, AND IT NON-LABOR RELATED OTHER COSTS

                                  TABLE 4.1.3.1

    [***]*

    4.1.4 Projects

          4.1.4.1  In-Flight Projects

    With exception to the upgrade of [***]* to a higher version, if (i) the
    number of FTEs required to complete or support the In-Flight Projects is
    greater than the total number of Project FTEs designated in Schedule H for
    all In-Flight Projects or (ii) the completion or support of the In-Flight
    Projects requires skills not included within the Project FTEs, then the
    Parties shall use Change Control Management to discuss the use and cost of
    additional FTEs or FTEs that posses the skills necessary to complete and/or
    support the In-Flight Projects, as applicable. Table 4.1.4.2 sets forth the
    standard FTE fees and consulting fees, which may be adjusted [***]* based on
    the then current Service Provider rates.

    For the upgrade of [***]* to a higher version, use of staff greater than the
    number of Project FTEs designated by Customer for the [***]* upgrade shall
    be included up to a charge of [***]* based on the standard FTE fees shown in
    Table 4.1.4.2, will be based on the then current Service Provider rates. Any
    charges above the [***]* will be determined through Change Control and be
    the responsibility of the Customer.

          4.1.4.2  New Projects

    The FTE fees, consulting fees and resources required to complete or support
    any new project that is not an In-Flight Project will be determined in
    accordance with Change Control Management. Table 4.1.4.2 sets forth standard
    FTE fees and consulting fees, which may be adjusted by Service Provider
    [***]* based on the then current Service Provider rates, that may be
    incurred. [***]*

                              PROJECT BILLING RATES

                                  TABLE 4.1.4.2

    [***]*

    4.1.5 Non-Supported Software

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    Upgrades to versions of [***]* or other Software that are not currently
    supported by the respective vendors that are (i) requested by Customer or
    (ii) necessary to enable Service Provider to perform the Services in
    accordance Section 12.1.1 of this Agreement until such time as [***]*. as
    applicable.. Such upgrades, and the costs and resources to accomplish such
    upgrades, must be approved through Change Control Management.

    4.1.6 Changes to Service Levels

    Should Customer request the support of Service Levels solely for Customers
    benefit that are higher than Service Levels currently supported, the
    equipment, tools and resources required to support such enhanced Service
    Levels must be approved through Change Control Management.

    4.1.7 Baseline Charges During Transition

    The Baseline Charges for each Process in the calendar quarter in which the
    Process Effective Date for such Process and recurring and predictable costs
    for Third Party Contracts in the calendar quarter is scheduled to occur
    shall reflect a pro rata amount based on the number of days in such calendar
    quarter from and after such Process Effective Date. Service Provider shall
    submit the invoice for such pro rata amount on the [***]* in which the
    Process Effective Date is scheduled to occur; provided, however, in the
    event the actual Process Effective Date with respect to any Process is
    different than the scheduled Process Effective Date, Service Provider shall
    make an appropriate adjustment to the invoice submitted to Customer for the
    following [***]*.

4.2 ARCS/RRCS

    4.2.1 Baseline Volumes and Actual Resource Units

    Baseline Volumes identify the expected volumes of Services to be provided by
    Service Provider to Customer with respect to each Resource Unit Category.
    Actual Resource Units are calculated as follows: (i) with respect to the
    Resource Unit Category related to Associates Served, [***]* totaled for each
    Contract Year and divided by twelve; (ii) with respect to all other Resource
    Unit Categories, [***]* As of the Agreement Date, the upper limit and lower
    limit volumes for the Band relating to each Resource Unit Category are
    identified on Table 4.2.1.1. IT services deemed to be Major Enhancements
    shall be approved through Change Control Management.

        RESOURCE UNIT CATEGORIES, BASELINE VOLUMES AND ARC/RRC UNIT RATES

                                   TABLE 4.2.1

    [***]*

    4.2.2 Calculation of ARCs and RRCs

    Customer [***]* for the applicable Resource Unit Category, and Service
    Provider [***]* for the applicable Resource Unit Category . The Resource
    Unit Categories, Band limits, ARC unit rates and RRC unit rates are
    identified in Table 4.2.1.

------------------------
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        [***]*

        [***]*

        4.2.2.3. Addressing Sustained Deviations

        Notwithstanding the foregoing, in the event either Party becomes aware
        or anticipates that Actual Resource Units with respect to any Resource
        Unit Category are or will be materially greater than or less than the
        applicable Baseline volume for a sustained period of time, the Parties
        shall use Change Control Management to address the impact of such
        deviation and mutually agree as to what action, if any, should be taken
        with respect to such deviation.

    4.2.3 Periods Reconcilliation and Adjustments

    Service Provider will calculate ARCs and RRCs annually, within [***]* after
    the end of the Contract Year. Service Provider will prepare a detailed
    supplementary invoice for the net amount to be paid by or credited to
    Customer, including calculations of all ARCs and RRCs, which shall be paid
    by Customer within [***]*. Service Provider will deliver regular reports
    relating to reconciliation and adjustment activities as agreed upon by the
    parties. If, following the final Contract Year, a net credit is owed to
    Customer, it shall be paid in cash or deducted from any other amounts owed
    by Customer.

                          SAMPLE ARC/RRC CALCULATION-HR

                                  TABLE 4.2.3.1

    [***]*

                          SAMPLE ARC/RRC CALCULATION-AP

                                  TABLE 4.2.3.2

    [***]*

4.3 FEES AT RISK

    4.3.1 Service Provider Fees at Risk

If Service Provider is required to award Fees at Risk, such Fees at Risk shall
be calculated and paid as follows.

------------------------
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In the event of [***]*, Service Provider shall be liable for Fees at Risk as
follows:

    o   Fees at Risk will be reported and calculated [***]*.

    o   The Fees at Risk shall be [***]*.

    o   The Fees at Risk for the General KPI relating to the Service Levels to
        be agreed upon as described in Schedule B and the reports being
        delivered in accordance with Schedule R is [***]*.

The Parties understand and intend that Fees at Risk are liquidated damages and
agree that the amounts of the Fees at Risk are reasonable under the
circumstances existing on the Agreement Date.

    4.3.2 Service Provider Fees at Risk

In the event Service Provider is awarded Fees at Risk under any Managed
Agreement, Service Provider shall pass-through such Fees at Risk to Customer.

5.  PASS THROUGH EXPENSES AND OTHER CHARGES

    5.1 PASS THROUGH EXPENSES

Customer shall assist in the assignment of applicable Third Party Contracts to
Service Provider and Service Provider and Customer shall each be [***]* in
accordance with Section 11.2 of the Agreement. Service Provider will review and
pay third party invoices for costs related to the Third Party Contracts.
Recurring Third Party Contract which are predictable, shall be invoiced
quarterly in accordance with Section 6.of this Schedule. The remaining Third
Party Contracts shall be invoiced as received by the Service Provider

[***]* related to Third Party Contracts identified as of the Effective Date are
listed in Table 5.1.1, which may be amended through the verification process in
Section 3 of this Schedule or as agreed through Change Control Management.

                     NON LABOR RELATED OTHER 3RD PARTY COSTS

                                   TABLE 5.1.1

    [***]*

6.  INVOICING

In accordance with Section 5.2.1 of the Agreement, Service Provider shall
deliver invoices for Baseline Charges and recurring Third Party Contracts which
are predictable [***]*. Service Provider shall invoice Customer for other
amounts payable under this Agreement as necessary and Customer shall pay such
amounts within [***]* in accordance with Section 5.2.2 of this Agreement. Fees
at Risk shall be calculated in accordance with Section 4.3 of this Schedule C
and [***]*.

If periodic computation and reconciliation of ARCs and RRCs yield net [***]* for
reasons other than unique or non-recurring events, then, in order to minimize
the net payment or credit following periodic reconciliation, subsequent
quarterly invoices for Baseline Charges shall be adjusted up or down, as
appropriate, by an amount equal to the net adjustment for the immediately
preceding period.

------------------------
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    [***]*

7.  TERMINATION

    7.1 TERMINATION FOR CONVENIENCE

As described in Section 3.2.3 of this Agreement, in the event of a termination
for convenience, Customer will pay Service Provider the full amount set forth in
Table 7.1 for the month within which the effective date of the termination
occurs.

                           TERMINATION FOR CONVENIENCE

                                    TABLE 7.1

    [***]*

7.2 [***]*

7.3 TERMINATION FOR CAUSE

As described in Section 3.2.1 and Section 3.2.2 of this Agreement, in the event
of a termination for cause [***]*

7.4 OTHER TERMINATION FEES

    [***]*

8.  COST OF LIVING ADJUSTMENT

Beginning [***]*, Baseline Charges and ARC's and RRC's shall be adjusted in
accordance to Section 5.7 of this Agreement on an [***]* basis as appropriate.
In the event an adjustment calculated pursuant the first sentence of Section
5.7.1 of this Agreement is greater than [***]*.

9.  CONTRACT MINIMUMS

If total payments of Baseline Charges in any Contract Year (including any net
increase or decrease related to ARCs or RRCs, but excluding any allowance for
Fees at Risk) [***]*, then Service Provider shall deliver to Customer an invoice
for the shortfall, which, unless otherwise agreed by the Parties, Customer shall
pay within thirty (30) days after receiving such invoice. Upon the occurrence of
Extraordinary Changes in Workload as described in Section 5.6 of the Agreement,
the Parties shall use Change Control Management to address any adjustments to
the Baseline Charges

10. NON-LABOR RELATED SYSTEMS AND OTHER CHARGES

Prior to the Agreement Date, Customer received non-labor related systems and
other support services from various corporate groups. With the transition to
this Agreement, Customer will retain the responsibility and staff to perform
these systems and other support services. [***]*

------------------------
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10.1     NON-LABOR RELATED SYSTEMS AND OTHER CHARGES TO SERVICE PROVIDER

[***]* These charges shall commence following the Process Effective Date .
Non-Labor related systems and other charges to Service Provider shall be
adjusted at the end of each Contract Year for inflation as specified in Section
5.7 of this Agreement. Any change to the IT charges will be pre-approved by
Customer and Service Provider in accordance with Change Control Management.

         NON-LABOR RELATED SYSTEMS AND OTHER CHARGES TO SERVICE PROVIDER

                                  TABLE 10.1.1

[***]*

[***]*

    10.1.1 [***]* in Non-Labor Related Systems and Other Charges to Service
           Provider

    [***]*

    10.1.2 Billing of Non-Labor Related Systems and Other Charges to Service
           Provider

    Customer will invoice Service Provider [***]* for the agreed charges based
    on actual usage for the provision of Non-Labor Related Systems and Other
    services to Service Provider. Table 11.1.1 identifies the items, metrics and
    charges to be incurred based on actual usage following the Agreement Date.
    Any change to the number of Non-Labor Related Systems and Other Charges
    and/or unit charges will be pre-approved by Customer and Service Provider
    through Change Control Management.

11. ASSUMPTIONS

This Schedule has been prepared based on the Assumptions, as set forth in
Section 5.10 of this Agreement. In the event of any deviation from the above
listed assumptions, charges will be equitably adjusted to reflect the net change
in the cost of performing the relevant Services in accordance with such Section
5.10 and through the use of Change Control Management.

------------------------
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                                      -9-
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                               SERVICES AGREEMENT

                                   SCHEDULE D

                              THIRD PARTY CONTRACTS

                                      FINAL

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                                TABLE OF CONTENTS

A. INTRODUCTION.............................................................1

B. THIRD PARTY AGREEMENTS...................................................1

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A.  INTRODUCTION

This Schedule D sets forth the Third Party Contracts and designates whether each
such agreement is intended to be an "Assigned Agreement", "Managed Agreement" or
an agreement "Retained" by Customer.

B.  THIRD PARTY CONTRACTS

[***]*

----------------------
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                               SERVICES AGREEMENT

                                   SCHEDULE E

              SERVICE PROVIDER SOFTWARE AND SERVICE PROVIDER TOOLS

                                      FINAL

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This schedule sets forth the Software and Tools, or similar Software and Tools,
which may be used by Service Provider to provide the Services and will be
validated during the 90 day Adjustment Period. This Schedule E shall be updated
by the Parties from time to time to incorporate any Service Provider Software
and Service Provider Tools not listed on Schedule E that Service Provider uses
to provide the Customer Services.

[***]*

--------

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                               SERVICES AGREEMENT

                                   SCHEDULE F

                      CUSTOMER SOFTWARE AND CUSTOMER TOOLS

                                      FINAL

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                                   SCHEDULE F
                      CUSTOMER SOFTWARE AND CUSTOMER TOOLS

This Schedule F sets forth the Customer Software and Customer Tools, which may
be used by or managed, or assigned to Service Provider, to provide the Services
and will be validated during the 90 day Adjustment Period. This Schedule F shall
be updated by the Parties from time to time to incorporate any Customer Software
and Customer Tools not listed on this Schedule F that the Customer used to
provide accounts payable services, internal human resources administration,
payroll processing and call center operations immediately prior to the Service
Provider taking over the responsibility to provide such services,
administration, processing and operations.

Each line item of Software includes an indicator showing its ownership status.
These indicators are:

         C:       Customer Proprietary
         R:       Third-party - Retained by Bank of America
         A:       Third-party - Assigned to Exult
         M:       Third-party - Managed by Exult
         TBD:     Status to be determined during the [***]* Adjustment Period

[***]*

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                               SERVICES AGREEMENT

                                   SCHEDULE G

                               TRANSITION PLANNING

                                      FINAL

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                                TABLE OF CONTENTS

1  INTRODUCTION.............................................................1

2  TRANSITION PLANNING PRINCIPLES...........................................1

3  CONTRACTING/HIGH LEVEL DUE DILIGENCE.....................................1

4  TRANSITION APPROACH......................................................2

5  OVERALL TRANSITION ACTIVITIES............................................2

6  FIRST 90 DAYS PLAN TEMPLATE..............................................3

7  HIGH-LEVEL TRANSITION SCHEDULE...........................................3

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                                   SCHEDULE G

                               TRANSITION PLANNING

1   INTRODUCTION

    This Schedule sets forth the Transition approach and initial Transition Plan
    for conducting the transfer of services, people and facilities from Customer
    to Service Provider and the transition approach that shall be followed. The
    specific deliverables and milestones for the transition approach, subject to
    ongoing review and revision by both parties, shall be agreed within [***]*.

2   TRANSITION PLANNING PRINCIPLES

    2.1   Transition is a joint responsibility. Service Provider is responsible
          for management of the overall transition program and Customer has
          responsibility for ensuring the appropriate level of participation in
          data gathering and requirements definition and of commitment and
          involvement for their team.

    2.2   The Transition Plan shall be primarily determined based on the
          in-scope Processes and people, and certain dependencies for
          transferring Customer facilities.

3   CONTRACTING/HIGH LEVEL DUE DILIGENCE

    A contracting/high level due diligence phase has been completed prior to the
    Agreement Date, pertaining to the in-scope Processes, people, and
    facilities. This included:

    3.1   Agreement development, negotiation and signing

    3.2   Input for in-scope Processes ( Schedule A) and other Schedules

    3.3   Volumetrics data collection (to indicate number of occurrences or
          counts as applied to Process activities).

    3.4   Budget/financial data collection

    3.5   Headcount information

    3.6   Service Level measurements

------------------
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4   TRANSITION APPROACH

    The Transition shall be conducted in two phases:

    4.1   Phase I shall focus on:

          4.1.1  The transfer of in-scope Customer Associates from Customer to
                 Service Provider and the establishment of an Service Provider
                 organization structure for in-scope Processes.

          4.1.2  The transfer of facilities and other assets from Customer to
                 Service Provider.

          4.1.3  The design and implementation of overall governance and
                 management processes to support the provision of Customer
                 Services through Transition and beyond.

          4.1.4  The development of mutually agreed upon Transition Plans for
                 Phase 2.

          Customer and Service Provider shall agree upon to the overall approach
          and schedule for the Transition, the detailed work plan to complete
          the work, and the staffing levels and commitments from both
          organizations. The project reporting and governance shall also be
          agreed upon and put in place.

    4.2   Phase 2, shall commence for each Process once Customer Associates and
          facilities have been transferred to Service Provider and shall focus
          on:

          4.2.1  The general approach for all Processes is to transfer the
                 current Process and people in place today from Customer to
                 Service Provider ("in-situ transition"). Once under Service
                 Provider management, the Processes will be improved through a
                 combination of changes to the procedures, underlying
                 technologies, organization design, and deployment of employees.
                 Some of these changes relate to In-Flight Projects, which are
                 documented in Schedule H, In-Flight Projects. Others will be
                 identified during the Transition Period, and will be undertaken
                 in a manner consistent with Schedule K, Change Control
                 Management.

          4.2.2  The establishment of a service management infrastructure within
                 the delivery organization will provide appropriate activity and
                 lines of communication between Customer and Service Provider to
                 manage the delivery of Services according to Service Levels and
                 contractual requirements, while at the same time introducing an
                 effective commercial framework for the delivery of Processes.

5   OVERALL TRANSITION ACTIVITIES

    Overall Transition activities are project wide and not specific to a
    Process. The activities are:

    [***]*

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6   FIRST 90 DAYS APPROACH

    The initial 90 day approach is focused upon [***]*. The key activities to be
    covered over the time include:

    [***]*

7   SAMPLE HIGH-LEVEL TRANSITION PLAN

    See attached Sample Transition Plan

    [***]*

---------------------
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                               SERVICES AGREEMENT

                                   SCHEDULE H

                               IN-FLIGHT PROJECTS

                                      FINAL

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                                TABLE OF CONTENTS

1  PROJECTS IDENTIFIED AS IN-SCOPE............................................1

2  PROCESS FOR AGREEING NEW PROJECTS AND CHANGES TO AGREED PROJECTS...........1

3  PROPOSED PROJECTS..........................................................1

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                                   SCHEDULE H

                               IN-FLIGHT PROJECTS

1   PROJECTS IDENTIFIED AS IN-SCOPE

As of the Agreement Date, Service Provider and Customer have identified the
following In-Flight Projects.

[***]*

    1.1 In-Flight Projects Table Assumptions

        1.1.1   These are the In-Flight Projects that are anticipated for [***]*
                that will need resources that are currently in Baseline Charges
                in Schedule C.

        1.1.2   The In-Flight Project completion dates will be validated during
                Transition.

        1.1.3   The number of FTEs assigned to each project is approx -- will
                fluctuate month-to-month and may change over time.

        [***]*

    1.2 For any In-Flight Projects identified in the table above that do not
        have a complete and agreed project statement, including the information
        identified in Section 2.2 of this Schedule, Customer and Service
        Provider shall complete and agree to a project statement within [***]*
        after the Agreement Date.

2   PROPOSED IN-FLIGHT PROJECTS

    2.1 The terms applicable to a project shall be set out in a project
        statement to be signed by both Parties. Once signed a project statement
        will form part of this Agreement, unless agreed otherwise in writing by
        the Parties.

    2.2 Content of Project statement

        - Scope of work

        - Service Level impact

        - Impact analysis including priority

        - Deliverables (as applicable)

--------------------
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        - IP Ownership

        - Acceptance criteria, timeframe & process [as applicable]

        - Project timetable (including start and end dates, activity duration
          and critical dependencies

        - Responsibilities

        - Staffing (implementation and ongoing)

        - Assumptions

        - Charges and payment terms

        - Project manager contacts

        - Other terms and conditions, to detail variations and/or additions to
          this Agreement, and/or Schedules applicable in relation to the
          In-Flight Project.

                                       2

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                               SERVICES AGREEMENT

                                   SCHEDULE I

                               CUSTOMER ASSOCIATES

                                      FINAL

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         This schedule sets forth the Customer Associates to be transferred from
         Customer to Service Provider in accordance with Schedule J.

         [***]*

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                                   SCHEDULE J

        For the purposes of this Schedule J, "Customer Associate" means any
employee employed by Customer and Customer Affiliates (collectively, "Customer")
who has been identified by Customer and listed on Schedule I, including without
limitation, those employees on any approved leave under Customer's policies.

        (a) Service Provider shall offer employment to all Customer Associates
prior to the date each Customer Associate's employment with the Customer is
terminated in order for him or her to become an employee of Service Provider
(the Customer Associate's "Separation Date"). Such offers of employment must be
made by Service Provider at least five (5) working days prior to each Customer
Associate's Separation Date, for employment to become effective immediately
after the Separation Date (the "Service Provider Employment Date"). Service
Provider will promptly notify Customer of each offer it plans to make prior to
extending the offer and of every acceptance or rejection of any such offer by
any Customer Associate. Customer Associates to whom an offer of employment is
extended by Service Provider will be asked to provide Service Provider with
personal/employment history information, but will not be required to submit to a
background check. [***]* Except as specifically set forth herein, employment by
Service Provider of Transferred Customer Associates will be pursuant to Service
Provider's policies and procedures.

        (b) Customer will put each Customer Associate on a January salary review
schedule, commencing in January 2001. [***]*. Thereafter, all Transferred
Customer Associates will receive their first full salary review with Service
Provider in January 2002. [***]*

        (c) Certain key Transferred Customer Associates will be considered for
[***]* as mutually agreed upon by Customer and Service Provider. All [***]*
provided in accordance with this paragraph (c) will be funded by Customer and
paid directly to the eligible Transferred Customer Associates by Service
Provider.

        (d) [***]*

        (e) Customer is responsible for timely payment, as required by law, of
all wages and salaries and other compensation payable with respect to service
provided by a Customer Associate on or prior to his or her Separation Date.
[***]*.

        (f) Customer shall also be responsible for [***]*. For purposes of this
paragraph (f), [***]*

        As of a Transferred Customer Associate's Service Provider Employment
Date, the Transferred Customer Associate will begin accruing vacation according
to [***]*.

        (g) Customer shall retain the responsibility for payment of all health
insurance (medical, dental, vision) claims and disability claims incurred by any
Customer Associate prior to and including his or her Separation Date, and
Service Provider does not assume any liability with respect to such claims.
Effective as of each Transferred Customer Associate's Service Provider
Employment Date, all health insurance (medical, dental, vision) claims and
disability claims incurred by the Transferred Customer Associate will be
determined under Service Provider's benefit plans (subject to the Transferred
Customer Associate's election of Continuation Coverage under Customer's

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

health plans). [***]* Each Transferred Customer Associate must provide Service
Provider with an Explanation (EOB) Statement in order to receive such credits.
The domestic partner of any Transferred Customer Associate will be eligible to
participate in Service Provider's medical, dental, vision and dependent life
plans to the same extent as a Transferred Customer Associate's spouse, except as
prohibited by applicable laws or the terms of a policy covering an insured
benefit.

        (h) To the extent required by law, Customer will be responsible for
providing Customer Associates (and Customer Associates' "qualified
beneficiaries") who experience a "qualifying event" on or prior to the Customer
Associates' Separation Date, with "Continuation Coverage" (as each term is
defined in Section 4980B(f) or (g) of the Code) under the terms of the health
plans maintained by Customer. Service Provider will be responsible for providing
Continuation Coverage to any Transferred Customer Associate in Service
Provider's employ (and such Transferred Customer Associate's qualified
beneficiaries) who experiences a qualifying event on or after his or her Service
Provider Employment Date.

        (i) [***]*

        (j) Service Provider shall assume liability for severance pay and
similar obligations payable to any Transferred Customer Associate whose
employment is terminated by Service Provider. Such payment shall be made
pursuant to the severance policy of Service Provider applicable at the time of
termination, if any, [***]*. Notwithstanding the foregoing, Service Provider
shall pay any Transferred Customer Associate whose position with Service
Provider is eliminated within [***]* of his or her Service Provider Employment
Date at least the amount of severance pay such Transferred Customer Associate
would receive under the applicable Customer severance policy in effect on the
date his or her job elimination is officially communicated by Service Provider,
and the difference, if any, between this payment and the amount of severance pay
received by such Transferred Customer Associate under Service Provider's
severance policy shall be funded by Customer. Any severance payable to a
Transferred Customer Associate whose position is eliminated more than [***]*
after his or her Service Provider Employment Date shall be determined solely
under Service Provider's applicable severance policy.

        (k) The Separation Date of a Customer Associate who accepts employment
with Service Provider, but who is absent from work due to a Customer-approved
leave of absence on the Customer Associate's original proposed Separation Date,
will be the date the Customer Associate returns to work, [***]*. If a Customer
Associate is absent from work for more than six (6) months from his or her
original proposed Separation Date, the Customer Associate will not become a
Service Provider employee, unless mutually agreed upon by Customer and Service
Provider.

        (l) Service Provider will provide each Transferred Customer Associate
who is participating in [***]* a Transferred Customer Associate [***]* in the
[***]* prior to his or her Separation Date, [***]* in which the Transferred
Customer Associate's Service Provider Employment Date occurs and, thereafter, in
the [***]*, provided that the Transferred Customer Associate [***]* would
continue to satisfy the [***]*. Customer will [***]* described in this
paragraph.

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        (m) Customer will pay Service Provider the [***]* under [***]* and (ii)
the outstanding [***]* described in (i), above, multiplied by the applicable
Transferred Customer Associate's [***]*. Service Provider will pay the [***]*
the sum of the [***]* described in (i) to [***]* as of the Customer Associate's
Separation date and will provide each Transferred Customer Associate with his or
her [***]*.

        (n) Service Provider is responsible for advising Customer Associates of
the details of any offers and terms of employment with Service Provider, and
answering any questions relating thereto, but Customer will be allowed to review
and approve, prior to its distribution (i) any communication with Customer
Associates prior to the applicable Separation Date, and (ii) any communication
with such Customer Associates after the applicable Separation Date that
describes or refers to any of Customer's benefits or policies to the extent they
apply to Customer Associates.

        (o) Nothing herein is intended to create any right or cause of action in
or on behalf of any person or entity other than Customer and Service Provider.

        (p) Customer shall indemnify Service Provider from, and defend and hold
Service Provider harmless from and against, any losses suffered, incurred or
sustained by Service Provider or to which Service Provider becomes subject,
resulting from, arising out of or relating to any claim asserted by any Customer
Associate or former Customer Associate of Customer, including any Customer
Associate who becomes an employee of Service Provider, that is attributable to
any period during which such Customer Associate was employed by Customer and
arising out of Customer's employment of that Customer Associate, including
claims relating to (i) any violation of laws for the protection of persons or
category of persons of a protected class by Customer or Customer Agents,
including unlawful discrimination, (ii) any work-related injury or death caused
by Customer or Customer Agents, except to the extent the claim is covered by any
applicable workers' compensation plan, (iii) accrued employee benefits not
expressly assumed or provided for by Service Provider, (iv) any representations,
oral or written, made by Customer or Customer Agents to such Customer Associate,
and (v) any other aspect of such Customer Associates' employment relationship
with Customer or termination of such employment relationship with Customer
(including claims for breach of an express or implied contract of employment).

        Service Provider shall indemnify Customer from, and defend and hold
Customer harmless from and against, any losses suffered, incurred or sustained
by Customer or to which Customer becomes subject, resulting from, arising out of
or relating to any claim asserted by any Customer Associate or former Customer
Associate of Customer, including any Customer Associate who becomes an employee
of Service Provider, attributable to any period during which such employee is
employed by Service Provider and arising out of Service Provider's employment of
that employee, including claims relating to (i) a violation of law for the
protection of persons or categories of persons of a protected class by Service
Provider or Service Provider Agents, including unlawful discrimination, (ii) any
work-related injury or death caused by Service Provider or Service Provider
Agents, except to the extent the claim is covered by any workers' compensation
plan, (iii) accrued employee benefits expressly assumed by or provided by
Service Provider, (iv) any representations, oral or written, made by Service
Provider or Service Provider Agents to such employees, and (v) any other aspect
of such employees' employment relationship with Service Provider or termination
of such employment relationship with Service Provider (including claims for
breach of an express or implied contract of employment).

-----------------
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                               SERVICES AGREEMENT

                                   SCHEDULE K

                            CHANGE CONTROL MANAGEMENT

                                      FINAL

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                                TABLE OF CONTENTS

1  CHANGE REQUESTS...........................................................1

2  CLASSIFICATION OF THE CHANGE REQUEST......................................1

3  EVALUATION OF THE PROPOSED CHANGE.........................................1

4  IMPACT ANALYSIS...........................................................2

5  APPROVAL..................................................................2

6  REPORTING.................................................................3

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                                   SCHEDULE K

                            CHANGE CONTROL MANAGEMENT

This Schedule sets out the procedure to be followed for any proposed change to
this Agreement.

1   CHANGE REQUESTS

    Either Party may request, orally or in writing, a change to this Agreement.
    Except for proposed changes that will not have a material impact on the
    Services, the Services Fees or the operations of either Party, upon either
    Party's receipt of request for a change, the Parties shall (a) work together
    to prepare a written change request containing the general information
    regarding the proposed change (a "Change Request") and (b) classify the
    proposed change pursuant to Section 2 of this Schedule.

2   CLASSIFICATION OF THE CHANGE REQUEST

    The Service Provider and Customer designee shall agree to the classification
    of proposed change as follows:

    2.1   Where it is determined by the Parties that the proposed change is an
          operational change, the proposed change shall be evaluated as set out
          in Section 3.1 of this Schedule.

    2.2   Where it is determined by the Parties that the proposed change is a
          project or New Service, the proposed change shall be evaluated and
          processed as set out in Section 3.2 of this Schedule.

    2.3   Where it is determined by the Parties that the proposed change is a
          change to the terms and conditions of this Agreement or a change
          related to the Schedules to this Agreement and not related to a
          specific project or New Service, the proposed change shall be
          evaluated and processed as set out in Section 3.2 of this Schedule.

    2.4   Where it is determined that the proposed change should not proceed,
          the change request shall be rejected and returned to the Party
          requesting such change in accordance with Section 8.1.2 of this
          Agreement.

    If Service Provider and Customer cannot agree to the classification of a
    proposed change, then such change shall be handled in accordance with
    Section 18.0 of this Agreement.

3   EVALUATION OF THE PROPOSED CHANGE

    The proposed change shall be evaluated and classified, as described below:

    3.1   Operational Changes

          3.1.1  In the event the Parties agree that a proposed change is an
                 operational change, such change shall be implemented in
                 accordance with Service Provider's internal operational change
                 control procedures and be subject to approval as provided in
                 Section 5 of this Schedule. Service Provider's internal
                 operational control procedures are substantially similar to the
                 procedures described in this Schedule.

                                       1

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    3.2  Projects and New Services

          In the event the Parties agree that a proposed change is a project or
          New Service, the Parties shall comply with the following procedures.

          3.2.1  An impact analysis shall be performed in accordance with
                 Section 4 of this Schedule.

          3.2.2  Service Provider shall prepare a project statement or New
                 Service statement, as applicable, that incorporates the results
                 of the impact analysis.

          3.2.3  Service Provider shall submit materials related to the proposed
                 change, including the Change Request, the project statement or
                 New Service Statement, as applicable, and the impact analysis,
                 to Customer.

          3.2.4  Based on the materials prepared and submitted to Customer
                 pursuant to Section 3.2.3 of this Schedule, Customer and
                 Service Provider account management shall, within a reasonable
                 period of time, but in no event more than [***]* after receipt
                 of such materials;

                 (i)   approve the proposed change and the project statement and
                       proceed to its implementation, subject to approval as
                       provided in Section 5 of this Schedule; or

                 (ii)  identify which items of information either Party is
                       dissatisfied with, and request that the other Party
                       modify and re-submit the proposed change, impact analysis
                       or project statement, as applicable, within a reasonable
                       timeframe; or

                 (iii) reject the proposed change, in which case Service
                       Provider will not implement the project or New Service,
                       as applicable.

4   IMPACT ANALYSIS

    4.1 Upon determination of the classification of the proposed change, within
        [***]* or within the timeframe otherwise agreed to by the Parties,
        Service Provider and Customer shall agree to an estimate of the time and
        cost necessary to complete the impact analysis and the manner in which
        the impact analysis should be conducted. If Customer determines that the
        impact analysis should not proceed, the proposed change shall be
        rejected.

    4.2 If the Parties agree to proceed, Service Provider and, to the extent
        applicable, Customer shall as soon as reasonably practicable and acting
        in good faith, conduct an impact analysis to assess and evaluate the
        impact of the proposed change having regard to relevant factors
        including the following:

        [***]*

5   APPROVAL

    Approval for Change Requests shall be handled through account management.

    Neither Party shall be obliged to comply with any proposed changes unless
    and until approval has been given in accordance with this Change Control
    Management process and, pending approval, no Change shall be made to any
    Services or to this Agreement.

6   REPORTING

    A consolidated report, including status updates with respect to all approved
    changes and Change Requests, shall be included in the monthly report.

-------------
* Confidential information has been omitted.

                                       2
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                               SERVICES AGREEMENT

                                   SCHEDULE M

                        FORM OF CONFIDENTIALITY AGREEMENT

                                      FINAL

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                                     FORM OF

                            CONFIDENTIALITY AGREEMENT

This Confidentiality Agreement (this "Agreement") is made as of the ___ day of
______, 20__, by and among Bank of America Corporation ("Bank of America"),
having its principal place of business located at 100 North Tryon Street,
Charlotte, NC 28255, Exult, Inc. ("Exult"), having its principal place of
business located at 4 Park Plaza, Suite 1000, Irvine, Ca 92614 and
___________________________ ("Recipient"), having its principal place of
business located at _______________________________________.

                                    RECITALS

WHEREAS, Exult and Bank of America have entered into a Master Services Agreement
(the "MSA"), dated as of ________, 2000, relating to the provision by Exult to
Bank of America of certain business process services;

[USE THE FOLLOWING IF EXECUTED BY A PROVIDER OF NEW SERVICES]
[WHEREAS, Bank of America has selected Recipient to provide certain New Services
(as defined in the MSA) to Bank of America;

WHEREAS, Recipient and Bank of America desire that Exult cooperate with
Recipient in connection with its provision of such New Services by disclosing
certain of its Confidential Information (hereinafter defined); and

WHEREAS, the MSA provides that Exult shall not be required to disclose such
Confidential Information unless Recipient executes a confidentiality agreement
in the form attached thereto as Schedule M;]

[USE THE FOLLOWING IF EXECUTED BY PROVIDER OF SUBCONTRACTED SERVICES]
[WHEREAS, Exult desires to enter into a subcontract with Recipient pursuant to
which Recipient shall provide certain services (the "Subcontracted Services") to
Bank of America;

WHEREAS, in connection with Recipient's provision of the Subcontracted Services,
Exult may disclose, among other things, certain of Bank of America's Customer
Information (hereinafter defined) to Recipient; and

WHEREAS, the MSA provides that Exult shall not disclose Bank of America's
Confidential Information to any subcontractor (as defined in the MSA) unless
such subcontractor shall have entered into a confidentiality agreement in the
form attached thereto as Schedule M;]

[USE THE FOLLOWING IF EXECUTED BY PROVIDER OF AUDIT SERVICES]
[WHEREAS, Recipient is providing certain audit services (the "Audit Services")
to Bank of America pursuant to the MSA; and

WHEREAS, the MSA provides that Exult shall only be required to provide access to
Bank of America's auditors that have entered a confidentiality agreement in the
form attached thereto as Schedule M, to Bank of America's auditors that have
entered a confidentiality agreement in the form attached thereto as Schedule M,
to Bank of America's data and records and Exult's records in order to audit the
accuracy of Service Provider's Invoices and Service Provider's Systems, internal
controls, security and Service Level (as defined in the MSA) performance;]

                                       i

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NOW THEREFORE, in consideration of the mutual covenants and agreements herein
contained, and for other good and valuable consideration, the receipt of which
is hereby acknowledged, Exult, Bank of America and Recipient covenant and agree
as follows:

1.  In connection with Recipient's provision of the [New Services]
    [Subcontracted Services] [Audit Services], Exult may disclose to Recipient
    confidential and proprietary data and information for the sole purpose of
    assisting Recipient in its performance of the [New Services] [Subcontracted
    Services] [Audit Services]. The parties hereby agree that the following
    terms and conditions shall apply to the delivery, disclosure and use of all
    Confidential Information provided by Exult or Bank of America, as
    applicable, to Recipient any time before or after execution and delivery of
    this Agreement. For purposes hereof, "Confidential Information" of Exult or
    Bank of America, as applicable, means either such party's software
    (including applications and web-based software) technology, know-how, data
    and/or other information relating to its current and/or proposed business,
    customers, research, products, services, compilations, techniques,
    development efforts, inventions, processes, designs, drawings, marketing or
    finances, whether disclosed in written or other tangible form, orally or
    visually, and in the case of non-tangible information, provided such
    Confidential Information transmitted verbally or visually is either readily
    ascertainable as confidential by its nature or presentation or is identified
    as confidential at the time of disclosure. Notwithstanding the foregoing, in
    the case of information relating to the other customers of Exult or
    customers of Bank of America or, if applicable, their accounts, the parties
    agree that such information shall be kept strictly confidential regardless
    of whether such information is in writing or tangible form or whether marked
    or otherwise identified as proprietary or confidential. [USE THE FOLLOWING
    SENTENCE WITH RESPECT TO DISCLOSURES TO PROVIDERS OF SUBCONTRACTING
    SERVICES] [The Confidential Information shall be disclosed at the sole
    discretion of Exult.] [USE THE FOLLOWING SENTENCE WITH RESPECT TO
    DISCLOSURES TO PROVIDERS OF NEW SERVICES] [Upon Bank of America's written
    request, Exult will disclose to Recipient such Confidential Information as
    Exult is required to disclose pursuant to the MSA.] [USE THE FOLLOWING WITH
    RESPECT TO DISCLOSURES TO PROVIDERS AND AUDIT SERVICES] [Upon notice from
    Bank of America in accordance with Section 17.0 of the MSA, Exult will
    disclose to Recipient such Confidential information as Exult is required to
    disclose pursuant to the MSA.] THE CONFIDENTIAL INFORMATION PROVIDED BY
    EXULT OR BANK OF AMERICA, AS APPLICABLE, UNDER THIS AGREEMENT IS PROVIDED
    "AS IS." NO OTHER WARRANTIES WITH RESPECT TO SUCH CONFIDENTIAL INFORMATION,
    EITHER EXPRESS OR IMPLIED, ARE MADE BY EXULT OR BANK OF AMERICA.

2.  Recipient acknowledges that Bank of America has a responsibility to its
    customers to keep information about its customers and their accounts
    ("Customer Information") strictly confidential. Confidential Information
    includes Customer Information hereunder. In addition to the other
    requirements set forth in this Agreement regarding Confidential Information,
    Customer Information shall also be subject to the additional restrictions
    set forth in this paragraph. Recipient shall not disclose or use Customer
    Information other than solely to carry out the purposes for which Bank of
    America or its affiliates disclosed such Customer Information to Recipient.
    Recipient shall not disclose any Customer Information other than on a "need
    to know" basis and then only to: (a) affiliates of Bank of America; (b)
    Recipient's representatives provided that any such representatives which
    constitute nonaffiliated third parties shall be subject to subsection (d)
    below; (c) affiliates of Recipient, provided that such affiliates shall be
    restricted in use and re-disclosure of the Customer Information to the same
    extent as Recipient; (d) to carefully selected subcontractors provided that
    such subcontractors shall have entered into a confidentiality agreement no
    less restrictive than the terms hereof; (e) to independent contractors,
    agents, and consultants designated by Bank of America; or (f) pursuant to
    the exceptions set forth in 15 USC 6802(e) and accompanying regulations
    which disclosures are made in the ordinary course of business. The
    restrictions set forth herein shall apply during the term and after the
    termination of this Agreement.

                                       ii

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

3.  Recipient acknowledges that Exult has a responsibility to its customers to
    keep information about its customers and, as applicable, its accounts
    ("Exult Customer Information") strictly confidential. Confidential
    Information includes Exult Customer Information hereunder. In addition to
    the other requirements set forth in this Agreement regarding Confidential
    Information, Exult Customer Information shall also be subject to the
    additional restrictions set forth in this paragraph. Recipient shall not
    disclose or use Exult Customer Information other than solely to carry out
    the purposes for which Exult or Bank of America or the affiliates of either
    of them, as applicable, disclosed such Exult Customer Information to
    Recipient. Recipient shall not disclose any Customer Information other than
    on a "need to know" basis and then only to: (a) affiliates of Exult; (b)
    Recipient's representatives and affiliates who need to know such Exult
    Customer Information to facilitate performance by Recipient of the duties in
    connection with which it has received Confidential Information, provided
    that such representatives and affiliates shall be restricted in sue and
    re-disclosure of the Exult Customer Information to the same extent as
    Recipient; and (c) independent contractors, agents, and consultants
    designated by Exult. The restrictions set forth herein shall apply during
    the term and after the termination of this Agreement.

4.  Recipient acknowledges and agrees that title to and ownership of the
    Confidential Information shall remain with Exult or Bank of America, as
    applicable, and that the Confidential Information disclosed under this
    Agreement is confidential and proprietary and constitutes valuable trade
    secret information of Exult or Bank of America, as applicable. Recipient
    agrees not to use the Confidential Information of Exult or Bank of America
    for its own use or for any other purpose except solely to perform the [New
    Services] [Subcontracted Services] [Audit Services]. Recipient shall not
    copy or reproduce, in any manner, any Confidential Information disclosed by
    Exult or Bank of America, as applicable, beyond that necessary for the use
    of the Confidential Information as expressly permitted under this Agreement.
    Recipient agrees that it will hold the Confidential Information in
    confidence and will not disclose the Confidential Information to any third
    party, and will limit disclosure of the Confidential Information only to
    those of its bona fide employees, agents or consultants who will be directly
    involved with the provision of the [New Services] [Subcontracted Services]
    [Audit Services]. Further, Recipient agrees it will take all appropriate
    action and use no less than reasonable care to satisfy its obligations under
    this Agreement. Without limiting the foregoing, Recipient shall refrain from
    trading in securities of Exult of Bank of America while in possession of
    material nonpublic information related to Exult or Bank of America, as the
    case may be, and provided hereunder.

5.  Recipient agrees that it shall have no rights in or to the Service Provider
    Software, Service Provider Tools and New Intellectual Property, and agrees
    not to Use (as such term is defined in the MSA) the Service Provider
    Software, Service Provider Tools or New Intellectual Property for any
    purpose or in any manner (including internal purposes, for Bank of America
    or for any marketing or commercial purposes, in each case with or without
    any consideration of any type), except to the extent necessary to perform
    the [New Services] [Subcontracted Services] [Audit Services].

6.  The provisions of this Agreement shall not apply to any Confidential
    Information that:

    (a) Recipient can establish by competent documentation was known to it
        without restriction prior to disclosure by Exult or Bank of America, as
        applicable, or was independently developed by Recipient;

    (b) is now or hereafter comes into the public domain through no fault of
        Recipient;

    (c) is disclosed to Recipient without restriction on disclosure by a third
        party who has the lawful right to make such disclosure to Recipient; or

    (d) is required by operation of law to be disclosed by Recipient, provided,
        however, that Exult and Bank of America are given reasonable advance
        notice of the intended disclosure and reasonable opportunity to
        challenge such legal requirement(s).

                                      iii

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7.  This Agreement shall be effective as of the date and year first cited and
    the term shall extend through and until a period of [_______] year[s]
    thereafter unless the term of this Agreement is extended, in writing, by the
    mutual agreement of the parties hereto. Within ten (10) days after the
    termination or expiration of this Agreement, Recipient shall return to Exult
    and Bank of America, as applicable, or, at the direction of Exult or Bank of
    America, as applicable, destroy any and all Confidential Information
    disclosed hereunder.

8.  Recipient's non-disclosure and non-use obligations applicable to the
    Confidential Information under this Agreement shall survive any termination
    or expiration of this Agreement for as long as the Confidential Information
    is not within any of the categories described in Section 4 above, except in
    the case of Customer Information which confidentiality survives perpetually
    and irrevocably.

9.  All Confidential Information disclosed under this Agreement shall remain the
    sole and exclusive property of Exult or Bank of America, as applicable, and
    this Agreement shall not be construed as granting or conferring any rights
    by license or otherwise in or to any Confidential Information to Recipient.

10. The validity, terms, performance and enforcement of this Agreement shall be
    governed and construed by its provisions and in accordance with the laws of
    the State of California and of the United States of America.

11. Should any provision of this Agreement be deemed illegal or otherwise
    unenforceable, that provision shall be severed and the remainder of this
    Agreement shall remain in full force and effect. The waiver of any right or
    election of any remedy in one instance shall not affect any rights or
    remedies in another instance. A waiver shall be effective only if made in
    writing and signed by an authorized representative of each of the parties
    hereto.

12. All notices that any party is required or may desire to give the another
    party under this Agreement shall be given by addressing the communication to
    the address set forth on the first page of this Agreement, and may be given
    by certified or registered mail, overnight carrier, telex or cable. Such
    notices shall be deemed given on the date of receipt (or refusal) of
    delivery of said notice. Any party may designate a different address for
    receipt of notices upon written notice to the other parties.

13. Recipient may not transfer or otherwise assign its rights, duties or
    obligations under this Agreement to any other person or entity, in whole or
    in part, without the prior written consent of Exult and Bank of America. Any
    such prohibited assignment shall be void. However, notwithstanding the
    foregoing or anything else in this Agreement to the contrary, each party
    will cause all of its subsidiaries, its direct and indirect parent entities,
    and the subsidiaries of its direct and indirect parent entities, and other
    third parties to which it transfers Confidential Information pursuant to
    this Agreement, to comply with this Agreement.

14. Except for the obligations and responsibilities of Exult and Bank of America
    set forth in the MSA, this Agreement supersedes in full all prior
    discussions and agreements between the parties relating to the Confidential
    Information, constitutes the entire agreement between the parties relating
    to the Confidential Information, and may be modified or supplemented only by
    a written document signed by an authorized representative of each party.

15. The signatories hereto warrant and represent that they are duly authorized
    to bind Exult, Bank of America and Recipient, respectively, and to execute
    this Agreement.

                                       iv

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16. Recipient agrees that its obligations under this Agreement are necessary and
    reasonable in order to protect Exult and Bank of America, as applicable, and
    their respective businesses, and Recipient expressly agrees that monetary
    damages would be inadequate to compensate Exult and Bank of America, as
    applicable, for any breach by Recipient of its covenants and agreements set
    forth in this Agreement. Accordingly, Recipient agrees and acknowledges that
    any such violation or threatened violation could cause irreparable injury to
    Exult and Bank of America, as applicable, and that, in addition to any other
    remedies that may be available, in law, in equity or otherwise, Exult and
    Bank of America shall be entitled to obtain injunctive relief against the
    threatened breach of this Agreement or the continuation of any such breach
    by Recipient, without the necessity of proving actual damages.

[USE SECTION 17 IF EXECUTED BY PROVIDER OF AUDIT SERVICES - RENUMBER IF
APPROPRIATE]

17. Notwithstanding anything herein to the contrary,

    (a) In consideration of access to the Confidential Information, Recipient
        shall keep the Confidential Information confidential and refrain from
        using such Confidential Information for any purpose other than
        performance of the Audit Services by Recipient's employees actually
        performing such Audit Services (the "Auditors"). For theses purposes,
        use of Confidential Information for purposes of the Audit Services by
        the Auditors includes review of the Confidential Information by the
        Auditors, preparation by the Auditors of summaries and analyses
        ("Auditor Reports"), delivery of such Auditor Reports, including the
        Confidential Information, to representatives of Bank of America who have
        a need to know such information in connection Audit Services, and
        discussion of the Confidential Information with such persons, but no
        other uses.

    (b) Without limiting the foregoing, Recipient shall advise the Auditors that
        they shall be permitted to provide the Confidential Information only to
        Recipient's employees and, if applicable, partners involved in the
        performance of the Audit Services.

    (c) Recipient shall inform Exult in writing of the names of all persons
        involved in the performance of the Audit Services on behalf of
        Recipient, and shall inform all such persons of their obligations as
        employees or, if applicable, partners of Recipient, to abide by this
        Agreement. If applicable, Recipient shall not permit any persons
        employed or engaged in Recipient's human resources business process
        outsourcing line of service, to participate in the performance of Audit
        Services or to have access to any of the Confidential Information.
        Recipient shall at all times cause the Auditors to abide by this
        Agreement, and shall not permit any of its employees, partners, if
        applicable, contractors, advisors or other representatives, other than
        the Auditors, to have access to any Confidential Information.

    (d) Bank of America shall treat all Confidential Information it receives
        from the Auditors as though it were received from Exult and subject to
        confidentiality agreements between Bank of America and Exult.

18. For a period of two years from the date of this Agreement, Recipient will
    not, directly or indirectly, solicit for employment any employee of Exult or
    Bank of America or any of their respective affiliates, provided that this
    will not prohibit Recipient from employing persons who approach Recipient on
    their own initiative or in response to public advertising by Recipient
    without any direct or indirect solicitation or encouragement from Recipient.

19. If there is any dispute between the parties regarding this agreement, the
    prevailing party parties will be entitled to recover its or their costs,
    including without limitation its attorneys' fees and costs, from the
    nonprevailing party or parties.

                                       v

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IN WITNESS WHEREOF, the parties have hereto caused this Agreement to be executed
by their duly authorized representatives as of the day and year above stated.

EXULT, INC.                                 BANK OF AMERICA ENTITY

By: _____________________________           By: ______________________________
Name: ___________________________           Name: ____________________________
Title: __________________________           Title: ___________________________

[RECIPIENT]

By: _____________________________
Name: ___________________________
Title:___________________________

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                               SERVICES AGREEMENT

                                   SCHEDULE N

                                  KEY POSITIONS

                                      FINAL

                                       2.0

<PAGE>   99

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                                TABLE OF CONTENTS

A.  INTRODUCTION............................................................1

1   KEY POSITIONS...........................................................1

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A.  INTRODUCTION

    This schedule sets forth the Key Positions which shall be governed by
    Section 4.3.2 of the Agreement. Key Positions

    [***]*

------------------
* Confidential information has been omitted.

                                       1

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                               SERVICES AGREEMENT

                                   SCHEDULE R

                                     REPORTS

                                      FINAL

<PAGE>   102

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                                TABLE OF CONTENTS

1  INTRODUCTION.............................................................1

2  PRINCIPLES GOVERNING REPORTS.............................................1

3  TABLE OF REPORTS.........................................................1

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                                   SCHEDULE R

                                     REPORTS

1   INTRODUCTION

    The Parties shall update this Schedule during the Transition Period as
    described in Section 15.2 of this Agreement.

    This Schedule identifies the Reports that the Service Provider shall provide
    to the Customer.

2   PRINCIPLES GOVERNING REPORTS

    2.1 Reporting shall remain consistent with currently provided reports as of
        the Agreement Date.

    2.2 Following the Agreement Effective Date, the existing reports shall be
        reviewed and agreed by the Parties to determine if applicable, and
        included in the table below.

    2.3 Any new requests for reports shall be reviewed and agreed by the Parties
        through Change Control Management.

3   TABLE OF REPORTS

    REPORT NAME       REPORT TYPE        DELIVERY DATE        DELIVERY FREQUENCY
    ----------------------------------------------------------------------------

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

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

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

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

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

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

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

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

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

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

                                       1

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                               SERVICES AGREEMENT

                                   SCHEDULE T

                         TERMINATION ASSISTANCE SERVICES

                                      FINAL

<PAGE>   105

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

                                TABLE OF CONTENTS

1   INTRODUCTION.............................................................1

2   SERVICE PROVIDER TERMINATION ASSISTANCE PLAN SERVICES....................1

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                                   SCHEDULE T

                         TERMINATION ASSISTANCE SERVICES

1   INTRODUCTION

    Subject to Section 3.5 of this Agreement, upon expiration or any termination
    of this Agreement, Service Provider will take all reasonable action
    requested by Customer to enable the Services to continue without
    interruption or material disruption..

2   SERVICE PROVIDER TERMINATION ASSISTANCE PLAN SERVICES

    Subject to Section 3.5 of this Agreement, Service Provider shall provide the
    following Termination Assistance Plan Services in accordance with the
    Termination Assistance Plan:

    2.1   Service Provider shall deliver all tangible Customer data to Customer,
          or Customer designee ("Designee") in Service Provider's existing data
          formats which shall meet accepted industry standards, when reasonably
          requested by Customer or Designee. Service Provider may not retain any
          Customer data, apart from authorized archival copies.

    2.2   Service Provider shall provide or make available technical information
          reasonably requested by Customer or Designee concerning software
          configurations, production operation of Customer applications,
          environment, operations and procedures.

    2.3   Service Provider shall make knowledgeable members of Service
          Provider's account management, technical and operations staff
          available in person at Service Provider facilities or by telephone to
          answer questions concerning Services to Customer, as performed by
          Service Provider, including the matters referred in Section 2.1 and
          2.3 above.

    2.4   Service Provider shall cooperate with Customer and Designee in
          preparation and Approved Service Provider in preparation and
          implementation of a migration or Termination Assistance Plan,
          including reasonable testing. Customer and its successor shall have
          primary responsibility for preparation, delivery and performance of
          any such plan.

    2.5   Service Provider shall remove Service Provider assets located on
          Customer premises.

    2.6   Service Provider shall certify to Customer that all Customer data and
          files have been removed from equipment managed by Service Provider.

    2.7   Service Provider shall cooperate with Customer, Approved Service
          Provider and other third parties to take action reasonably necessary
          to effect an orderly transition of telecommunications, data center and
          other third party services.

    2.8   [***]*

    2.9   Service Provider shall, in accordance with Sections 3.6, 12.2.2, 12.4
          and the other applicable provisions of this Agreement, cooperate with
          Customer to transfer software licenses to applicable parties to the
          extent permitted by applicable licenses.

    2.10  Service Provider shall certify to Customer that it has complied with
          its obligations set forth in Section 2.1 and Section 2.2 of this
          Schedule.

-------------------
* Confidential information has been omitted.

                                       1

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                               SERVICES AGREEMENT

                                   SCHEDULE U

                           CUSTOMER SERVICE LOCATIONS

                                      FINAL

<PAGE>   108

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                                TABLE OF CONTENTS

1   INTRODUCTION............................................................2

2   EMPLOYEE LOCATIONS AND COUNTS...........................................2

                                       1

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

1   INTRODUCTION

    This schedule sets forth the Customer Service Locations and the number of
    Service Provider employees to be situated at each of those locations.

2   EMPLOYEE LOCATIONS  AND COUNTS

    The table below lists the cities where Customer Associates that shall be
    transferred to Service Provider are situated and the respective employee
    counts.

    [***]*

---------------
* Confidential information has been omitted.

                                       2<PAGE>   1

                                                                   EXHIBIT 10.30

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR CERTAIN REDACTED PROVISIONS OF
THIS AGREEMENT. THE REDACTED PORTIONS ARE IDENTIFIED BY THREE ASTERISKS ENCLOSED
BY BRACKETS. THE CONFIDENTIAL PORTION HAS BEEN FILED SEPARATELY WITH THE
SECURITIES AND EXCHANGE COMMISSION.

                       LEASE AGREEMENT FOR 401 NORTH TRYON

                     BANK OF AMERICA, NATIONAL ASSOCIATION,

                  A NATIONAL BANKING ASSOCIATION, AS LANDLORD,

                                       AND

                                  EXULT, INC.,

                        A DELAWARE CORPORATION, AS TENANT

                                NOVEMBER 21, 2000

<PAGE>   2

                                TABLE OF CONTENTS

                                                                          PAGE
                                                                          ----
LEASE DEFINITIONS.........................................................  1

CONSIDERATION.............................................................  4

I.    LEASE OF PREMISES...................................................  4
        1.1  PREMISES.....................................................  4
        1.2  OPTION TO EXPAND.............................................  4
        1.3  INTENTIONALLY OMITTED........................................  4
        1.4  DELIVERY OF SPACE............................................  4
        1.5  COMMON AREAS.................................................  4

II.   TERM; RENT..........................................................  5
        2.1  TERM.........................................................  5
        2.2  USE..........................................................  5
        2.3  BASE RENT....................................................  5
        2.4  INTENTIONALLY OMITTED........................................  5
        2.5  ADDITIONAL SERVICES..........................................  5
        2.6  HOLDING OVER.................................................  5
        2.7  LATE CHARGES.................................................  6

III.  GENERAL MATTERS.....................................................  6
        3.1  CONDITION OF PREMISES........................................  6
        3.2  SERVICES TO BE FURNISHED BY LANDLORD.........................  6
        3.3  KEYS.........................................................  6
        3.4  GRAPHICS.....................................................  6
        3.5  REPAIRS BY LANDLORD..........................................  6
        3.6  PEACEFUL ENJOYMENT...........................................  7
        3.7  LANDLORD'S ADDITIONAL REPRESENTATIONS AND WARRANTIES.........  7

IV.   TENANT'S OCCUPANCY OF PREMISES......................................  8
        4.1  CARE AND SURRENDER OF THE PREMISES...........................  8
        4.2  LEGAL USE AND VIOLATION OF INSURANCE COVERAGE................  8
        4.3  HAZARDOUS MATERIALS..........................................  8
        4.4  NUISANCE.....................................................  9
        4.5  RULES OF THE BUILDING........................................  9
        4.6  REPAIRS BY TENANT............................................  9
        4.7  ALTERATIONS, ADDITIONS, IMPROVEMENTS.........................  9
        4.8  ENTRY FOR REPAIRS AND INSPECTION............................. 10
        4.9  ASSIGNMENT OR SUBLEASE....................................... 10
        4.10 SUBORDINATION TO MORTGAGE.................................... 12
        4.11 ESTOPPEL CERTIFICATE......................................... 12
        4.12 DEFAULTS BY LANDLORD......................................... 12

V.    INSURANCE........................................................... 13
        5.1  CASUALTY INSURANCE........................................... 13
        5.2  LIABILITY INSURANCE.......................................... 13
        5.3  INSURANCE STANDARDS; WAIVER OF SUBROGATION................... 13
        5.4  OTHER TENANTS; PARKING GARAGE................................ 13
        5.5  NON-LIABILITY FOR CERTAIN CONDITIONS AND OCCURRENCES......... 14
        5.6  NO RELEASE................................................... 14
        5.7  CASUALTY DAMAGE.............................................. 14
        5.8  SELF-INSURANCE. ............................................. 14

VI.   CONDEMNATION........................................................ 15
        6.1  EFFECT OF CONDEMNATION....................................... 15
        6.2  PROCEEDINGS IN CONDEMNATION.................................. 15
        6.3  NOTICE OF EXECUTION.......................................... 15

VII.  TENANT'S DEFAULT.................................................... 15
        7.1  DEFAULT BY TENANT............................................ 15
        7.2  LANDLORD'S REMEDIES.......................................... 16
        7.3  REMEDIES CUMULATIVE.......................................... 16
        7.4  CURE RIGHTS.................................................. 16
        7.5  RIGHTS UPON POSSESSION....................................... 17
        7.6  PREVAILING PARTY; VENUE...................................... 17

                                       i
<PAGE>   3
                         TABLE OF CONTENTS (Continued)

                                                                          PAGE
                                                                          ----
VIII. MISCELLANEOUS PROVISIONS............................................ 17
        8.1  FORCE MAJEURE................................................ 17
        8.2  SALE OF THE BUILDING......................................... 17
        8.3  NAME OF BUILDING............................................. 17
        8.4  NOTICES...................................................... 18
        8.5  NO WAIVER.................................................... 18
        8.6  COMMISSIONS.................................................. 18
        8.7  RIGHTS OF LIGHT, VIEW OR AIR................................. 18
        8.8  SEVERABILITY................................................. 18
        8.9  RECORDATION.................................................. 18
        8.10 BINDING EFFECT............................................... 18
        8.11 ENTIRE AGREEMENT............................................. 19
        8.12 AMENDMENTS................................................... 19
        8.13 COUNTERPARTS................................................. 19
        8.14 GOVERNING LAW................................................ 19
        8.15 INITIAL REPOSITIONING OF EMPLOYEES; SUBSEQUENT MOVES......... 19
        8.16 INTENTIONALLY OMITTED........................................ 19
        8.17 SHARED USE OF COMPUTER ROOM.................................. 19
        8.18 EQUIPMENT ACCESS............................................. 20
        8.19 LIMITS ON CERTAIN LIABILITIES................................ 20
        8.20 STATUS AS SUBLEASE........................................... 20
        8.21 RELOCATION................................................... 20
        8.22 SURVIVAL..................................................... 21
        8.23 DRAFTING..................................................... 21
        8.24 RIGHT OF EARLY TERMINATION................................... 21
        8.25 NEW LEASE.................................................... 21
        8.26 BASE BUILDING PLANS AND SPECIFICATIONS....................... 21
        8.27 TENANT'S TERMINATION FEE..................................... 22

LIST OF EXHIBITS

Exhibit A - Floor Plan of the Premises

Exhibit B - Work Letter Agreement

            Schedule 1 - Tenant's Plans

Exhibit C - Cleaning Specifications

Exhibit D - Rules and Regulations

Exhibit E - Option to Expand

Exhibit F - Services to be Provided by Landlord

Exhibit G - Tenant's Parking Rights and Charges

Exhibit H - Memorandum of Sublease

Exhibit I - Extension of Term

                                       ii
<PAGE>   4

                                 LEASE AGREEMENT

         THIS LEASE AGREEMENT (the "Lease") is made and entered into on this the
21st day of November, 2000 between BANK OF AMERICA, NATIONAL ASSOCIATION, a
national banking association ("Landlord"), whose address for purposes hereof is,
c/o Corporate Real Estate, Attn: Headquarters Real Estate Asset Manager,
NC1-023-04-03, 525 North Tryon Street, Charlotte, North Carolina, 28255, and
EXULT, INC., a Delaware corporation ("Tenant"). Tenant's address is as set forth
in Section 8.4.

                                LEASE DEFINITIONS

         As used in this Lease, the following specified terms shall have the
meanings ascribed below, unless the context clearly requires otherwise:

                  ADA. The Americans With Disabilities Act Of 1990.

                  Additional Rent.  As set forth in Section 2.5.

                  Alterations.  As defined in Section 4.7.

                  Bank of America Corporate Center. The sixty (60) story office
         tower located on the northeastern corner of North Tryon Street and East
         Trade Street, having an address of 100 North Tryon Street, Charlotte,
         North Carolina.

                  Base Building. The Building as constructed by Landlord
         pursuant to the Base Building Plans as defined in Section 8.26.

                  Base Rent.  As defined in Section 2.3.

                  Block. The city block located in Charlotte, North Carolina and
         bounded by North Tryon Street, East Sixth Street, North Church Street
         and East Seventh Street.

                  Building. The office building located at 401 North Tryon
         Street, Charlotte, North Carolina, as more particularly described in
         the Memorandum of Sublease attached hereto as Exhibit H.

                  Building Complex. Any adjacent property belonging to or under
         control of Landlord which has been affirmatively integrated into the
         Building including but not limited to the adjoining parking facility,
         office space and plaza areas (but not including the adjoining
         residential condominium or parking areas dedicated exclusively to the
         residential condominium building).

                  Certificate of Occupancy. A certificate of occupancy or a
         temporary certificate of occupancy issued by the Building Standards
         Department or other appropriate Governmental Authority of Mecklenburg
         County, North Carolina.

                  Commencement Date.  As set forth in Section 2.1.

                  Common Areas. Common Areas shall be located on the Block and
         shall include the lobby of the Building, outdoor plazas within the
         Building Complex (including outdoor plazas owned by any other third
         party but shared in whole or in part, for one or any number of
         purposes, with the owner of the Building), driveways, loading docks,
         corridors, communication shafts, building manager's offices,
         escalators, elevators, elevator shafts and elevator foyers, stairwells,
         entrances, lobbies, public restrooms, mechanical rooms, water holding
         areas, janitorial closets, vending rooms, telephone rooms, mail rooms,
         electrical rooms, elevator mechanical rooms located above the elevator
         shafts, and other similar areas of the Building provided for Building
         systems or for the common use or benefit of all tenants primarily or
         the public generally; provided, however, that the identity and location
         of such Common Areas is subject to the terms of Section 1.5.

                  Comparable Space. Comparable office space of similar floor
         height, and located in first-class, mid-rise office buildings
         (including, without limitation, the Building) with similar attendant
         parking facilities, with consummated leases achieved in the central
         business district of Uptown Charlotte, North Carolina. Comparable space
         shall include space with comparable amenities, build-out, floor plan,
         computer room and available parking and, to the extent Tenant has not
         already exercised its right to Expansion Space, Comparable Space shall
         also include available expansion space. For purposes of any provisions
         in this Lease relating to a Relocation (as defined in Section 8.21) of
         Tenant, Comparable Space shall be contained within a single building
         but is not required to be located on contiguous floors within such
         single building, however Landlord shall attempt to provide space within
         the same elevator bank or reasonably proximate by stair access.

                                       1

<PAGE>   5

                  Contract Rate. A rate of interest equal to two percent (2%)
         above the rate of interest announced from time to time as the "prime
         rate" by Bank of America, N.A. or its successors at its home office in
         Charlotte, North Carolina or the maximum rate permitted by applicable
         law, whichever shall be less.

                  Delivery Date.  As set forth in Section 2.1.1.

                  Environmental Laws. Any applicable current or future federal,
         state, or local law, regulation, ordinance, order, guidance document,
         policy document, or ruling applicable to health or environmental
         conditions on, under or about the Building, including, without
         limitation, the Comprehensive Environmental Response, Compensation and
         Liability Act, the Hazardous Materials Transportation Act, the Resource
         Conservation and Recovery Act, the Toxic Substances Control Act, the
         Water Pollution Control Act, the Clean Air Act, the Federal
         Insecticide, Fungicide and Rodenticide Act, and analogous state and
         local laws.

                  Expansion Space. Any additions to the Premises pursuant to the
         provisions of Exhibit E.

                  Force Majeure.  As defined in Section 8.1.

                  Governmental Authority. The government of the United States of
         America, the State of North Carolina and any political subdivision
         thereof, or any local, state or national public authority, agency,
         department, commission, board, bureau or instrumentality with authority
         over the Building or the Building Complex. With respect to matters
         pertaining to insurance, boards of fire underwriters shall be a
         Governmental Authority to the extent they have power to impose
         conditions on the issuance of policies or the coverage thereof.

                  Hazardous Materials. Polychlorinated biphenyls, petroleum and
         any fraction thereof, radioactive materials, urea formaldehyde,
         asbestos, and any waste, pollutant, contaminate, chemical compound,
         substance or material defined or regulated as "hazardous" "extremely
         hazardous" or "toxic" under any Environmental Law or by any federal,
         state, or local governmental agency or authority.

                  Holidays. New Year's Day, Memorial Day (observed),
         Independence Day (observed), Labor Day, Thanksgiving Day and Christmas
         Day, and such other holidays, not to exceed eight (8) days per Calendar
         Year, that are recognized by national banks.

                  HVAC. As defined in Exhibit F.

                  Initial Premises. The premises described in Section 1.1.1
         hereof.

                  Intent Notice. As defined in Section 4.9.

                  Landlord. As defined on Page 1.

                  Landlord's Architect. Any reputable architectural firm
         licensed in the State of North Carolina as shall be selected by
         Landlord from time to time.

                  Lease. As defined on Page 1.

                  Market Rate. As defined and determined in Exhibit E.

                  Master Lease. A special purpose entity has been formed to own
         the Building and the entire Building is subject to a lease between
         Landlord and such special purpose entity, said lease being deemed the
         "Master Lease" for purposes hereunder.

                  Master Services Agreement. That certain agreement of even date
         herewith between Bank of America Corporation and Exult, Inc., relating
         to provision of certain payroll and accounting services by Exult, Inc.
         to Bank of America Corporation.

                  New Lease. As defined in Section 8.25.

                  Normal Business Hours. As defined in Exhibit F.

                  Owner. That entity which owns the Building as of the
         Commencement Date of this Lease.

                                       2
<PAGE>   6

                  Parking Garage. The parking areas associated with the Building
         Complex on the Block, including, without limitation, any walkway
         connecting the Parking Garage to the Building, stairways, elevators and
         mechanical systems. The Parking Garage and the Building may be owned or
         managed separately.

                  Parking Rights and Charges. If Tenant is granted any rights to
         parking in the Parking Garage, such rights and all charges to Tenant
         for same are described in Exhibit G attached hereto and incorporated
         herein by this reference.

                  Premises. That portion of the Building shown or described in
         Exhibit A and further designated in Section 1.1.1 together with any
         changes made thereto in accordance with this Lease.

                  Rent. The Base Rent payable under Section 2.3 plus all
         Additional Rent described in Section 2.5, parking charges, if any,
         described in Exhibit G, and any other sums owed by Tenant to Landlord
         under this Lease including but not limited to Base Rent which may
         become payable pursuant to Section 8.27 or Exhibit E.

                  Rentable Area. The rentable portion of any leasable premises
         in the Building expressed in square feet or fractions thereof, whether
         or not such premises are to be used for office, retail or
         service-related uses.

                  Rentable Area in the Building. The aggregate Rentable Area in
         the Building irrespective of the designated use of such Rentable Area
         for office, retail or service related uses. Landlord and Tenant agree
         that as of the Commencement Date of this Lease, the Rentable Area in
         the Building is stipulated to be Four Hundred Thirty-Two Thousand Six
         Hundred Fifty-Nine (432,659) square feet.

                  Rules and Regulations. Attached as Exhibit D.

                  Standard Building Capacity. As defined in Exhibit F.

                  Stated Expiration Date. The date which is ten (10) years
         following the Commencement Date.

                  Tenant. As defined on Page 1.

                  Tenant Affiliate. As set forth in Section 4.9.

                  Tenant's Architect. Any reputable architectural firm licensed
         in the State of North Carolina as selected by Tenant.

                  Term. As set forth in Section 2.1.2.

                  Third Party Development. Any office, retail or condominium
         development (other than the Building, the Plaza, and the Parking
         Garage) which may be located from time to time on the Block and which
         is not owned by Landlord.

                  Transamerica Square. The name by which the Building Complex is
         known on the date of this Lease.

                  Year, Calendar Year, Lease Year. A year shall be any period of
         365/366 consecutive days. Calendar year shall mean the period from
         January 1 to December 31. Lease Year shall refer to each year beginning
         on the Commencement Date.

                                       3
<PAGE>   7

                                  CONSIDERATION

         In consideration of the mutual promises and agreements set forth
herein, the legal sufficiency of which the parties hereto expressly acknowledge,
Landlord and Tenant agree as follows:

                                       I.

                                LEASE OF PREMISES

         1.1 PREMISES.

                  1.1.1 DEMISE OF PREMISES. Subject to and upon the terms,
provisions and conditions hereinafter set forth, and each in consideration of
and conditioned upon the duties, covenants and obligations of the other
hereunder, Landlord does hereby lease, demise and let to Tenant, and Tenant does
hereby lease from Landlord, the Premises more particularly described as the
third (3rd) floor of the Building, consisting of approximately forty-six
thousand five hundred seven (46,507) square feet of Rentable Area and the fifth
(5th) floor of the Building, consisting of approximately forty-nine thousand,
six hundred seventy (49,670) square feet of Rentable Area (sometimes referred to
herein as the "Initial Premises"), containing in the aggregate approximately
ninety-six thousand one hundred seventy-seven (96,177) square feet of Rentable
Area as reflected on the floor plans attached hereto as Exhibit A and
incorporated herein by reference.

                  1.1.2 WARRANTY OF TITLE. Landlord warrants and represents to
Tenant that Landlord has the right, power, authority and ability to lease all of
the Premises and to undertake all other obligations of Landlord set forth
herein.

         1.2 OPTION TO EXPAND. The option to expand, if any, to be granted by
Landlord to Tenant under this Lease shall be set forth in Exhibit E hereto.

         1.3 INTENTIONALLY OMITTED.

         1.4 DELIVERY OF SPACE. Landlord shall deliver the Initial Premises and
any Expansion Space to Tenant in its "as is" condition and shall not be
obligated to perform any demolition or improvements.

         1.5 COMMON AREAS. Tenant, its employees and invitees shall have the
non-exclusive right to use the Common Areas as constituted for general use of
the occupants of the Building from time to time (except for mechanical rooms and
janitorial closets), such use to be in common with Landlord, other tenants of
the Building Complex and other persons and subject to the Rules and Regulations
set forth in Exhibit D attached hereto and by this reference made a part hereof,
as such Rules and Regulations may be amended from time to time provided such
amendments are nondiscriminatory in nature. Subject to the limitations set forth
in the next sentence, Landlord reserves the right from time to time to undertake
any or all of the activities described below, provided such reservation of
rights shall not: (i) materially affect Tenant's use or enjoyment of or access
to the Premises, the Parking Garage or Tenant's other rights under this Lease,
or increase or materially decrease the amount of Rentable Area in the Premises;
(ii) increase Tenant's Rent; or (iii) reduce the number of Tenant's parking
privileges set forth herein. In connection therewith, Landlord reserves the
following rights: to add to, or subtract from, or change from time to time, the
dimensions and location of the Common Areas, it being understood that Landlord
may, at its option, add any areas located within the Block to the Common Areas;
to create any additional improvements in the Common Areas or to alter or remove
any improvements in the Common Areas; to convert areas previously designated by
Landlord as part of the Common Areas to an area leased to one or more tenants or
to designate previously leased space as part of the Common Areas provided
equitable adjustments are made to the Rentable Area in the Building and the
Rentable Area in the Premises; to make alterations or additions to the Building
and to any other buildings or improvements within the Building Complex; to
operate and/or maintain such Common Areas in conjunction with other parties; and
to construct, or permit others to construct, other buildings or improvements
within the Building Complex. Landlord is not obligated to construct or provide
for Tenant any improvements outside the Building except as expressly provided in
this Lease.

                                       4
<PAGE>   8

                                       II.

                                   TERM; RENT

         2.1 TERM.

                  2.1.1 DELIVERY OF PREMISES. Landlord shall deliver the Initial
Premises to Tenant on the effective date of the Master Services Agreement (the
"Delivery Date"), subject to the provisions of Sections 8.15, 8.16 and 8.17
hereof.

                  2.1.2 COMMENCEMENT DATE. Subject to and upon the terms and
conditions set forth herein, or in any exhibit or addendum hereto, this Lease
shall continue in force for a Term commencing on the Delivery Date and ending
September 28, 2007, subject to Landlord's obligation to extend the Term of this
Lease upon relocation as set forth in Section 8.21 or enter into a New Lease as
set forth in Section 8.25.

         2.2 USE. The Premises are to be used and occupied by Tenant solely for
general office purposes and such other lawful purposes as are consistent with
uses of office space in first class office buildings in Uptown Charlotte, North
Carolina, and for no other purposes, except that Tenant may install and/or
maintain a telephone call center provided that the maximum density of the
Premises shall not exceed the structural load capacity of the Building or the
capacity of the Building systems. No use by Tenant shall, in Landlord's opinion
reasonably exercised (i) be in conflict with any exclusive use clauses which
Landlord has granted to other tenants of the Building Complex prior to the date
Tenant first notifies Landlord in writing of its intent to conduct such use in
the Premises; (ii) be in direct competition with Landlord in any of its core
banking, securities, trust or insurance businesses; or (iii) tend to damage or
injure the reputation of the Building or the Building Complex.

         2.3 BASE RENT. Landlord acknowledges that, with respect to the Initial
Premises only, Tenant's Base Rent for the initial Term of this Lease and any
extended term or term under the New Lease (pursuant to Section 8.21) to bring
the full term of Tenant's occupancy to one hundred twenty (120) months from the
Delivery Date, has been prepaid at market rates. Base Rent for the Expansion
Space, if exercised, shall be at the rates determined by application of Exhibit
E hereto.

         2.4 INTENTIONALLY OMITTED.

         2.5 ADDITIONAL SERVICES. Any services provided to Tenant including,
without limitation, utilities in excess of the Standard Building Capacity, or
furnished after Normal Business Hours, as such terms are defined in Exhibit F
hereto, shall be billed to Tenant on a monthly basis as additional rent (the
"Additional Rent") at Landlord's then standard hourly rates, if applicable, or
otherwise, at the actual cost incurred by Landlord, including third party
management services, to provide such services to Tenant. If Tenant requests
services other than utilities ("Other Services") in excess of the Other Services
enumerated in Exhibit F, Landlord shall also provide such Other Services to
Tenant, which shall be billed to Tenant as Additional Rent at Landlord's actual
cost plus an administrative fee equal to ten percent (10%) of the actual cost
thereof. Provided, however, that Other Services which are regularly or
repetitively incurred (as, for example, Other Services which are incurred on a
daily basis because Tenant has elected to add a second shift of employees) shall
be billed at Landlord's actual cost without an additional administrative fee.
All Additional Rent shall be payable on or before the fifteenth (15th) day
following receipt of Landlord's invoice therefore.

         2.6 HOLDING OVER. In the event of holding over by Tenant after
expiration or termination of this Lease without the written consent of Landlord,
Tenant shall (i) pay Landlord, within thirty (30) days after Landlord's written
demand therefor, all damages caused by Tenant's holding over (including, without
limitation, all claims for damages by any other tenant to whom Landlord may have
leased all or any part of the Premises and all losses suffered by Landlord
arising out of other agreements concerning the Premises which Landlord is unable
to honor, in whole or in part, as a result of Tenant's holding over) and all
attorneys' fees incurred by Landlord as a result of Tenant's holding over and
(ii) pay to Landlord one hundred and fifty percent (150%) of the fair market
rental value of the Premises during such holdover period, such fair market
rental value to be equal to the rent at which Comparable Space is then being
offered as determined in accordance with Exhibit E hereto. Any holding over with
Landlord's written consent shall constitute a lease from month to month under
all the terms and provisions of this Lease, and unless otherwise agreed in
writing, either Landlord or Tenant may terminate such month-to-month lease upon
at least thirty (30) days prior written notice to the other. If Tenant elects to
holdover for a period not to exceed six (6) months in accordance with Section
8.24 hereof, such holdover shall be treated as a holdover with the written
consent of Landlord pursuant to this paragraph and, in such event only the
holdover beyond the initial six (6) month period shall be subject to the
aforestated penalties.

                                       5
<PAGE>   9

         2.7 LATE CHARGES. If at any time any Rent is not received by the fifth
(5th) day following the date on which or period within which any monetary
obligation of Tenant under this Lease becomes due (including dishonored checks),
then in addition to the amount owed, Tenant shall pay to Landlord a late charge
equal to five percent (5%) of the past due obligation. This provision shall not
be deemed to condone the late payment of any monetary obligation, and shall not
be construed as giving Tenant an option to pay late by paying the late charge.
Instead, all funds are due at the times specified in this Lease without any
grace period. Failure to pay shall subject Tenant to all applicable default
provisions provided hereunder or by law, and Landlord's remedies shall not be
abridged by claiming or collecting a late charge.

                                      III.

                                 GENERAL MATTERS

         3.1 CONDITION OF THE PREMISES. Landlord shall deliver the Initial
Premises to Tenant in its "as is" condition and shall not be obligated to
perform any demolition or improvements therein. Provided, however, that the
Building systems which serve the Premises including sewer, water, electrical and
HVAC shall be in good working order.

         3.2 SERVICES TO BE FURNISHED BY LANDLORD. During the Term, as the same
may be extended, Landlord shall manage the Building Complex, operate the
Building, and provide supervision, janitorial and other services comparable in
service and quality to those provided for Comparable Space. Landlord shall cause
public utilities to furnish electricity and water to the Building and the
Premises and shall furnish Tenant with the other services described in Exhibit F
during the Term.

         3.3 KEYS. Landlord shall furnish Tenant at no cost up to one (1) key
(or the functional equivalent thereof) for each one hundred and fifty (150)
square feet of Rentable Area in the Initial Premises and in the Premises as it
may be expanded from time to time for entering the Building and the Premises,
and additional keys at a charge not to exceed Landlord's cost for each such key
without markup on an order signed by Tenant. All keys shall remain the property
of Landlord. No additional locks shall be allowed on any door of the Premises
without Landlord's written permission. If Tenant receives Landlord's permission
and installs locks requiring keys other than the keys provided by Landlord,
Tenant shall immediately provide Landlord with copies of such keys. Tenant shall
not make, or permit to be made, any duplicate keys except those furnished by
Landlord. Landlord shall have the right to maintain master keys and pass keys to
all doors to and within the Premises. Upon termination of this Lease, Tenant
shall surrender to Landlord all keys related to the Premises, and give to
Landlord the combination of all locks for safes, safe cabinets and vault doors,
if any, to remain in the Premises.

         3.4 GRAPHICS. Landlord shall provide and install Tenant's name and
suite numerals of the Premises in Building standard graphics at the main
entrance doors to the Premises. All graphics of Tenant visible in or from public
corridors or the exterior of the Premises shall be subject to Landlord's
approval; provided, however, Tenant may not display any signs or graphics of
Tenant visible from the exterior of the Building, except that Tenant shall be
allowed, for so long as the Premises are in Transamerica Square, one sign, of a
font size and appearance (i.e., stainless steel lettering with no larger font
size than existing, and color to be silver, gold or bronze) as the sign
currently displayed by Landlord above the exterior entrance doors in the arcade
on the south side of the Building, such sign to be centered in a panel above one
of the exterior entrance doors. The size and color of the sign shall be subject
to Landlord's reasonable approval. Landlord, at Landlord's expense, will also
identify Tenant in the directory located in the main lobby of the Building and
on any other appropriate directory which may be part of the Building Complex.
The space to be made available to Tenant in such directories shall be reasonably
proportionate to the space allotted other tenants with similar size Rentable
Area in the Building. If Landlord relocates Tenant to Comparable Space, Tenant
shall be entitled to comparable exterior signage, which may differ from the
exterior signage description set forth above based upon Landlord's signage
criteria for such Comparable Space and any restrictions contained in existing
leases or title documents for the Building in which the Comparable Space is
located.

         3.5 REPAIRS BY LANDLORD. Landlord shall make all repairs necessary to
maintain the Building, the Common Areas, the plumbing, HVAC and electrical
systems installed or furnished by Landlord (excluding any special electrical
equipment or other fixtures installed or furnished by Landlord at Tenant's
request and not as part of the Base Building unless the maintenance and repair
was necessitated by the misrepresentation, negligence or misconduct of Landlord
or caused by the act, omission, accident or negligence of Landlord, its agents,
employees, invitees, licensees, subtenants or contractors, in which case such
maintenance or repairs shall be made at Landlord's sole cost and expense if not
otherwise reimbursed to Tenant by insurance carried by Landlord or Tenant), the
glass curtain walls, windows, flooring installed or furnished by Landlord, and
all other structural elements of

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<PAGE>   10

the Premises installed or furnished by Landlord. Tenant shall promptly notify
Landlord of any condition which requires repair. Landlord shall undertake such
repairs with due diligence within a reasonable time after written notice from
Tenant that such repair is needed. In no event shall Landlord be obligated to
repair any nonstructural system damage or any damage to systems not provided in
Base Building plans unless such damage is caused by the act, omission, accident
or negligence of Landlord or its employees, agents, invitees, licensees,
tenants, subtenants or contractors in such capacity. Tenant shall not be
required to make structural repairs or repairs to the systems of the Building,
but such repairs shall be made by Landlord, and the costs of such repairs shall
be Expenses to the extent permitted in this Lease, unless the repairs were
necessitated by the act, omission, accident, negligence or misconduct of Tenant
or its employees, agents, invitees, licensees, subtenants or contractors, in
which case such repairs shall be at Tenant's sole cost and expense. Tenant shall
not be required to maintain or repair Building standard finishes within
restrooms, drinking fountains and other Building systems, all of which shall be
maintained by Landlord and the cost thereof shall be included in Expenses to the
extent permitted in this Lease. Any special leasehold improvements may, at
Tenant's written request and at Landlord's option, be maintained by Landlord at
Tenant's expense which shall be an amount equal to Landlord's actual cost plus
an additional charge of ten percent (10%) of such cost. Landlord shall not be
liable to Tenant, except as expressly provided in this Lease, for any damage or
inconvenience, and Tenant shall not be entitled to any damages nor to any
abatement or reduction of Rent by reason of any maintenance, repairs,
replacements, alterations or additions made by Landlord under this Lease.

         3.6 PEACEFUL ENJOYMENT. Landlord warrants and represents to Tenant that
Tenant shall and may peacefully have, hold and enjoy the Premises, subject to
the other terms hereof. The parties hereto agree that said letting and hiring is
upon and subject to the terms, covenants and conditions herein set forth, and
each party covenants as a material part of the consideration for this Lease to
keep and perform each and all of the terms, covenants and conditions required to
be kept and performed by it, and that this Lease is made upon the condition of
such performance.

         3.7 LANDLORD'S ADDITIONAL REPRESENTATIONS AND WARRANTIES. In addition
to Landlord's other representations and warranties set forth in this Lease,
Landlord hereby represents, warrants and covenants to Tenant as follows:

                  (a) Landlord has full and lawful authority to enter into this
         Lease.

                  (b) The Building Complex has been constructed in accordance
         with all applicable laws, codes, ordinances, rules and regulations in
         effect as of the time of obtaining the applicable building permits.
         Landlord shall be responsible for correcting any violation of the
         foregoing, at Landlord's expense (which expense shall not be included
         in Expenses as defined in Exhibit E hereto).

                  (c) On the date of delivery of possession of the Premises to
         Tenant and throughout the Term of this Lease, the Building (excluding
         any Alterations in the Premises) will be in substantial compliance with
         all applicable federal, state and local laws, ordinances, orders,
         rules, regulations and other requirements of Governmental Authorities
         relating to the use, condition and occupancy of the Building and all
         applicable rules, orders, regulations and requirements of any board of
         fire underwriters or insurance service office or any similar body
         having jurisdiction over the Building; provided, however, Landlord has
         informed Tenant that the Building may not comply in some immaterial
         respects with ADA or other applicable laws, but not to the extent which
         would materially impair Tenant's use and occupancy of the Premises or
         the health or safety of Tenant's employees or invitees.

                  (d) Landlord shall maintain, repair, operate, manage and lease
         the Building at a standard consistent with the maintenance, repair,
         operation, management and leasing of Comparable Space.

                  (e) Landlord represents that the current configuration of the
         Initial Premises, as depicted in the floor plans attached hereto as
         Exhibit A, complies with the load-bearing capacity requirements of
         Section 4.1.1. To the extent that a review of the current
         configuration, which is currently underway, reveals any inconsistency
         with such load-bearing requirements, Landlord shall correct the same at
         Landlord's cost.

                                       7
<PAGE>   11

                                       IV.

                         TENANT'S OCCUPANCY OF PREMISES

         4.1 CARE AND SURRENDER OF THE PREMISES.

                  4.1.1 DAMAGE; LOAD CAPACITY. Tenant shall not commit any waste
or damage, or allow any waste or damage, on any portion of the Premises or the
Building Complex. Tenant also agrees that Tenant will not place upon or load any
floor of the Building with a load exceeding its design capacity. Landlord
certifies that the floors of the Initial Premises are each designed generally to
bear fifty (50) pounds live load and fifty (50) pounds for partitions, per
square foot of floor space, or such other loads as may be specified on the floor
plans attached hereto as Exhibit A. Tenant shall take into account such
load-bearing capacities when locating all safes and heavy installations which
Tenant wishes to place in the Premises.

                  4.1.2 CONDITION OF PREMISES AT END OF TERM. At the end of the
Term, by lapse of time or otherwise, Tenant shall deliver the Premises to
Landlord in its Base Building condition except for those alterations, additions
and improvements thereto which Landlord agrees to accept, normal wear and tear,
insured casualty losses and acts of God. Tenant shall deliver the Premises to
Landlord broom clean and in good order and repair except for ordinary wear and
tear. If Tenant does not so deliver the Premises, Landlord may restore the
Premises to such condition following Tenant's surrender of possession and Tenant
shall pay the cost thereof, plus an administrative fee equal to fifteen percent
(15%) of the cost thereof. Unless the same may be removed by Tenant without
damage to the Premises (in which event Tenant may, at its option, so remove
them), all installations, alterations, additions and improvements, including
partitions which may have been installed by either Landlord or Tenant, shall
remain upon the Premises and shall become Landlord's property, all without
compensation, allowance or credit. Tenant's movable office equipment, furniture,
furnishings and artwork shall remain Tenant's property, and Tenant shall have
the right prior to the end of the Term to remove the same, if no uncured event
of default then exists. Tenant's goods, effects, personal property, business and
trade fixtures, machinery and equipment not removed at the end of the Term (or
within one (1) week after entry of a final unappealable order of possession of
the Premises to Landlord by a court of competent jurisdiction, and provided that
during such time Landlord has not hindered or impeded Tenant's efforts to remove
such property from the Premises by reason of Tenant's default) shall be
considered abandoned, and Landlord may dispose of the same in such commercially
reasonable manner as Landlord deems expedient after ten (10) days' prior written
notice to Tenant.

         4.2 LEGAL USE AND VIOLATION OF INSURANCE COVERAGE. Tenant shall comply
with all applicable laws, ordinances, orders, rules and regulations of any
Governmental Authority relating to the use, condition or occupancy of the
Premises. Landlord shall comply with all applicable laws, ordinances, rules and
regulations of any Governmental Authority relating to the construction,
ownership, leasing and management of the Building; provided, however, Tenant
agrees that the scope of Landlord's compliance with laws, ordinances, orders,
rules and regulations of any Governmental Authority applicable to construction
of the Building is limited to those in effect when approvals, permits and
licenses for construction of the Building were obtained or issued or to the
extent needed to not materially impair Tenant's use and occupancy of the
Premises or the health or safety of Tenant's employees or invitees. Tenant shall
not occupy or use, or permit any portion of the Premises to be occupied or used,
for any business or purpose which is unlawful, disreputable or deemed to be
extra-hazardous on account of fire. Tenant shall not permit anything to be done
in the Premises which would increase the rate of fire insurance coverage on the
Building.

         4.3 HAZARDOUS MATERIALS.

                  4.3.1 NO STORAGE. For the purposes of this Section 4.3,
"Premises" shall include the Premises and all space over which Tenant has the
right to exclusive use and control. Except for general office and cleaning
supplies typically used in the ordinary course of Tenant's business, without
Landlord's prior written consent, Tenant shall not knowingly use, release,
generate, store or dispose of on, under or about the Building Complex or
transport to or from the same any Hazardous Materials or permit or allow any
third party to do so.

                  4.3.2 COMPLIANCE; CITATION. All of Tenant's activities on the
Building Complex shall comply with Environmental Laws. As soon as practical
after receipt of same, Tenant shall furnish Landlord with a copy of any and all
citations, orders, notices, reports, subpoenas or requests concerning or having
an impact on the environmental condition of the Premises from any federal, state
or local governmental authority and a copy of any and all information, documents
or reports submitted to any Governmental Authority by or on behalf of Tenant
regarding the environmental condition of the Premises. Tenant shall provide
Landlord with written notice of any environmental

                                       8
<PAGE>   12

condition affecting the Premises which must be reported to any Governmental
Authority no later than twenty-four (24) hours after occurrence of the event
which triggers the reporting obligation.

         4.4 NUISANCE. Tenant shall conduct its business and shall use its best
efforts to control its officers, managers, agents, employees, invitees and
visitors in such manner as not to create any nuisance, or interfere with any
other tenant of the Building or with Landlord in its operation of the Building
Complex.

         4.5 RULES OF THE BUILDING. Tenant and its officers, managers,
employees, agents, visitors, contractors, assigns and licensees shall comply
with the Rules and Regulations of the Building Complex attached as Exhibit D, as
the same may be reasonably amended from time to time.

         4.6 REPAIRS BY TENANT. At Tenant's own cost and expense, Tenant shall
repair or replace any damage or injury done to the Building Complex or any part
thereof caused by Tenant or its contractors, subcontractors, officers, managers,
agents, employees, invitees or visitors (other than Landlord or its contractors,
subcontractors, agents, employees, invitees or visitors) to the extent such
damage or injury is not covered by insurance. If Tenant has not undertaken such
repairs or otherwise diligently pursued all actions preparatory to such repairs
within thirty (30) days after notice from Landlord of Tenant's obligation to do
so or if Tenant is not diligently pursuing completion of any repair undertaken
within the thirty (30) day period, Landlord may, at its option, make such
repairs or replacements, and Tenant shall repay to Landlord the cost thereof,
plus an administrative cost of ten percent (10%) to Landlord on demand.

         4.7 ALTERATIONS, ADDITIONS, IMPROVEMENTS.

                  4.7.1 RIGHT TO MAKE ALTERATIONS. Tenant shall have no right to
make changes, additions, material repairs, improvements or other alterations
(collectively, "Alterations") in or to the Premises without the prior written
consent of Landlord. For Alterations that would reasonably be expected to cost
Twenty Five Thousand Dollars ($25,000) or more, such consent shall be
conditioned upon Tenant entering into a Work Letter Agreement with Landlord in
the form attached hereto as Exhibit B. Notwithstanding the foregoing, Landlord's
prior written consent shall not be required for Alterations of a purely
decorative nature (such as painting or wallpapering), provided such Alterations
do not affect the structure, safety, efficiency or security of the Premises or
Building or the appearance of the Premises from any common or public areas or
the exterior of the Building, or place additional loads on Building systems, and
so long as prior written notice of such Alterations is given to Landlord. If
Tenant elects to make Alterations without first obtaining Landlord's prior
written consent, or if Landlord's written consent so specifies, Tenant shall
restore the portions of the Premises affected by such Alterations to Building
standard if Landlord so requests upon the termination or expiration of this
Lease.

                  4.7.2 AGREEMENTS; PERMITS. Tenant shall enter into an
agreement for the performance of such approved Alterations with such contractors
and subcontractors selected by Tenant and approved by Landlord. Tenant's
contractors shall obtain, on behalf of Tenant and at Tenant's sole cost and
expense, all necessary governmental permits and approvals for the commencement
and completion of such Alterations and Tenant shall provide true copies of same
to Landlord prior to commencement of such Alterations.

                  4.7.3 REVIEW BY LANDLORD; COMPLETION. Tenant shall pay to
Landlord, as Additional Rent, the reasonable actual costs of Landlord's review
of Tenant's proposed Alterations, except for those Alterations for which
Landlord's consent is not required as provided in Section 4.7.1. Such payment
shall be made within thirty (30) days after Tenant's receipt of invoices from
Landlord, or at Landlord's option, prior to the commencement of the Alterations.
All Alterations shall be performed: (i) in accordance with the approved plans,
specifications and working drawings; (ii) lien-free and in a good and
workmanlike manner; (iii) in compliance with all laws, ordinances, rules and
regulations of all Governmental Authorities; and (iv) in such a manner so as not
to materially interfere with the use or occupancy of the Building by any other
tenant in the Building or its employees or invitees, nor impose any additional
expenses upon, nor delay Landlord in, the maintenance and operation of the
Building, nor endanger the health or safety of any party in the Building.

                  4.7.4 COMPLIANCE WITH LAWS. All work and materials installed
in the Premises by Tenant or at Tenant's request shall comply with all Rules and
Regulations of the Building Complex, all insurance requirements, and with all
laws, ordinances, rules and regulations of all Governmental Authorities. Tenant
agrees to hold Landlord forever harmless from any and all claims and liabilities
of every kind and description which may arise out of or be connected in any way
with Alterations to the extent such claims and liabilities are not covered by
insurance, including Landlord's attorneys' fees.

                                       9
<PAGE>   13

                  4.7.5 INSURANCE REQUIREMENTS. In the event Tenant shall employ
any contractor to do any work in the Premises, Tenant shall provide Landlord
with certificates naming Landlord and such other parties as Landlord may
designate as additional insured under policies of builder's risk and general
liability insurance in amounts and with insurers reasonably satisfactory to
Landlord. Tenant shall also provide evidence of satisfactory worker's
compensation coverage in accordance with statutory requirements.

                  4.7.6 LIEN WAIVERS; LIENS. Upon completion of such
Alterations, Tenant shall arrange to have its contractor deliver to Landlord a
lien waiver sufficient to assure Landlord that no statutory lien could be filed
against the Building relating to such Alterations. Notwithstanding the
foregoing, if any statutory lien shall be filed against the Premises or the
Building Complex purporting to be for labor or materials furnished or to be
furnished at the request of Tenant, then Tenant shall at its expense cause such
lien to be discharged by payment, by posting of a cash or surety bond reasonably
satisfactory to Landlord or by other assurances reasonably satisfactory to
Landlord, within ten (10) days after the filing thereof. If Tenant shall fail to
take such action within such ten (10) day period, upon written notice to Tenant,
Landlord may cause such lien to be discharged by payment, bond or otherwise.
Tenant shall indemnify and hold harmless Landlord against any and all claims,
costs, damages, liabilities and expenses (including attorneys' fees) incurred by
Landlord by reason of any such lien or its discharge, and all such sums properly
paid by Landlord as permitted in this Section 4.7 shall be deemed to be
Additional Rent due and payable upon demand. No part of this Lease shall be
deemed or construed in any way as constituting the consent of or request by
Landlord to any contractor, subcontractor, laborer or materialman for the
performance of any labor or the furnishing of any materials to the Premises or
the Building Complex, or any part thereof, or against the estates of Landlord or
Tenant.

         4.8 ENTRY FOR REPAIRS AND INSPECTION. Tenant shall permit Landlord or
Landlord's agents or representatives to enter into and upon any part of the
Premises at all reasonable hours with such advance notice (oral or written) to
Tenant as is reasonable under the circumstances to inspect same, make repairs,
alterations or additions thereto in accordance with the terms of this Lease or
to exhibit the Premises to (a) prospective tenants during the last six (6)
months of the Term or (b) upon reasonable advance notice, to prospective
purchasers or to others, or for other reasonable purposes. In the event of
emergencies, Landlord shall use commercially reasonable efforts to provide
Tenant notice (oral or written) thereof prior to entering the Premises. Except
as otherwise expressly provided in this Lease, Tenant shall not be entitled to
any abatement or reduction of Rent or any other sums due under this Lease by
reason of such access afforded to Landlord. If representatives of Tenant shall
not be present to open and permit entry into the Premises at any time when such
entry by Landlord is necessary or permitted hereunder, Landlord, its employees,
contractors and agents may enter by means of a master key or key card (or
forcibly in the event of an emergency) without such entry constituting an
eviction of Tenant or termination of this Lease. No advance notice shall be
required for Landlord, its agents and employees providing routine services to
the Premises such as but not limited to janitorial services, routine maintenance
during Normal Business Hours, and security services.

         4.9 ASSIGNMENT OR SUBLEASE.

                  4.9.1 RIGHTS OF ASSIGNMENT AND SUBLEASE. Except with respect
to an assignment to a Tenant Affiliate as hereinafter provided, which shall not
require Landlord's consent, and except with the prior notice of at least ten
(10) business days and the written consent of Landlord, which consent Landlord
shall not unreasonably or arbitrarily withhold, condition or delay, Tenant shall
not voluntarily (i) assign or in any manner transfer this Lease or any estate or
interest therein, (ii) permit any assignment of this Lease or any estate or
interest therein by operation of law or otherwise, (iii) sublet the Premises or
any part thereof, (iv) grant any license, concession or other right of occupancy
of any portion of the Premises other than for services which are incidental to
office work (e.g., copying, vending machines, etc.), or (v) permit the use of
the Premises by any parties other than Tenant, its managers, agents, employees,
officers, licensees or invitees. Tenant shall not mortgage, pledge or otherwise
encumber its interest in this Lease or in the Premises. Consent by Landlord to
one or more assignments or sublettings shall not be a waiver of Landlord's
rights as to any subsequent assignments and sublettings. Tenant shall have the
right to assign this Lease to any parent, subsidiary or affiliated corporation
of Tenant or to a corporation or other entity acquiring all or substantially all
of Tenant's assets or stock whether by merger, consolidation or purchase between
Tenant and any other entity (each such permissible assignee to be referred to
herein as a "Tenant Affiliate") for any of the then remaining portion of the
unexpired Term, including the extension thereof as provided in this Lease, at
any time. Assignment of this Lease or subletting of all or any part of the
Premises to a Tenant Affiliate will require that at least ten (10) business days
notice, as hereinafter described, be given to Landlord, but consent or approval
of Landlord shall not be required.

                                       10
<PAGE>   14

                  4.9.2 MATTERS AFFECTING TRANSFER. Any approved transfer shall
be expressly subject to the terms and conditions of this Lease. In the event of
an assignment or subletting, Tenant shall remain fully responsible and liable
for the payment of Additional Rent and for compliance with all of Tenant's other
obligations under this Lease. If an event of default occurs following any
approved transfer, Landlord, in addition to any other available remedies, may
collect directly from Tenant's assignee or sublessee all rents becoming due to
Tenant and apply such amount against any sums due to Landlord by Tenant. Tenant
authorizes and directs any assignee or sublessee to pay rent directly to
Landlord upon receipt of notice of default from Landlord. No direct collection
by Landlord from any assignee or sublessee shall constitute a novation or a
release of Tenant from the further performance of its remaining obligations
under this Lease, nor shall receipt by Landlord of Rent from any assignee,
sublessee or occupant of the Premises be a waiver of the covenant in this Lease
prohibiting assignment and subletting.

                  4.9.3 CONSENT TO ASSIGNMENT OR SUBLEASE. If Tenant requests
Landlord's consent to an assignment of this Lease or subletting of all or a part
of the Premises, Tenant shall submit to Landlord, in writing, (i) the name of
the proposed assignee or sublessee, (ii) current financial statements, if any,
available to Tenant disclosing the financial condition of the proposed assignee
or subtenant, (iii) the nature of the business of the proposed assignee or
sublessee, and its proposed use of the Premises (any assignment or subletting
being subject to restrictions on use contained in this Lease or in other leases
of space served by the same elevator bank in the Building as the Premises,
violation of such restrictions by the proposed assignee or sublessee
constituting absolute grounds for Landlord's denial of the requested assignment
or subletting, such grounds not being the exclusive grounds for denial under
clause (iii)), and (iv) the proposed commencement date of the assignment or
subletting, together with a copy of the proposed assignment or sublease. Within
fifteen (15) days after its receipt of such notice, Landlord shall either
approve or disapprove such proposed assignment or sublease in writing.

                  4.9.4 ADDITIONAL LIMITATIONS RELATIVE TO ASSIGNMENT AND
SUBLETTING. Notwithstanding anything in this Lease to the contrary, Tenant
further agrees that any assignment or sublet shall be subject to the following
additional limitations: (i) In no event may Tenant assign this Lease or sublet
all or any portion of the Premises to an existing tenant of the Building, the
IJL Financial Center, the Odell Building, the Hearst Tower or the Bank of
America Corporate Center (collectively, the "Landlord Controlled Buildings"), or
any subtenant or assignee of such existing tenant; (ii) In no event shall the
proposed subtenant or assignee be a person or entity with whom Landlord or its
agent is negotiating and to or from whom Landlord, or its agent, has given or
received any written or oral proposal within the past six (6) months regarding a
lease of space in the Landlord Controlled Buildings; and (iii) Tenant shall not
publicly advertise the rate for which Tenant is willing to sublet the space; and
all public advertisements of the assignment of the Lease or sublet of the
Premises, or any portion thereof, shall be subject to prior approval in writing
by Landlord, such approval not to be unreasonably withheld or delayed. Said
public advertisements shall include, but not be limited to, the placement or
display of any signs or lettering on the exterior of the Premises, or on the
glass or any window or door of the Premises, or in the interior of the Premises
if it is visible from the exterior. The above and foregoing restrictions
relative to tenants of the Landlord Controlled Buildings shall apply to the
tenants of each such building (by whatever name such building is then known)
only for so long as Landlord maintains a controlling interest in each such
building, whether as owner or as tenant .

                  4.9.5 EFFECT OF ASSIGNMENT OR SUBLEASE. If Landlord consents
to any subletting by Tenant and subsequently any rents received by Tenant under
such sublease are in excess of the Rent payable by Tenant under this Lease (or,
in the case of the Initial Premises at any time prior to the Stated Expiration
Date), in excess of [***]* per square foot of Rentable Area), or any additional
consideration is paid to Tenant by the assignee under the assignment, then
Landlord and Tenant shall each be entitled to fifty percent (50%) of such
excess.

                  4.9.6 ASSUMPTION BY ASSIGNEE. Each permitted assignee shall
assume, and be deemed to have assumed, this Lease and be and remain liable
jointly and severally with Tenant for all payments and for the due performance
of all its terms, covenants and conditions. No approved assignment shall be
binding upon Landlord unless Landlord shall receive an instrument in recordable
form containing a covenant of assumption by the assignee, but the failure or
refusal of an assignee to execute the same shall not release it from its
liability as set forth herein. In the event that the proposed assignee or
sublessee is an existing tenant of the Building, Landlord, at its option and its
sole discretion, shall have the right to cancel this Lease and lease the
Premises or any portion of the Premises to be assigned or sublet to the proposed
assignee or sublessee under the terms of its existing lease with Landlord.

                  4.9.7 TERMINATION OF RIGHTS. At all times during the Term,
Landlord shall have a right of recapture of the Premises, or any portion thereof
which Tenant proposes to offer for sublease

--------------
* Confidential information has been omitted.

                                       11
<PAGE>   15

or assignment to parties other than Tenant Affiliates. Landlord shall have a
period of thirty (30) days following receipt of a written notice (the "Intent
Notice") from Tenant of its intent to sublet or assign the Premises or portion
thereof, to exercise its right of recapture as to the Premises or such portion
of the Premises, for the entire length of time that Tenant proposes to sublet or
assign same. The Intent Notice shall contain at a minimum the following proposed
terms: length of lease term, size and location of proposed premises, and
proposed alterations to the premises. Such exercise shall be effective as of the
date, not less than thirty (30) days following Landlord's receipt of the Intent
Notice, which Tenant's Intent Notice proposes to be the effective date of the
sublease or assignment. In the event Landlord does not elect to exercise such
rights within the notice period, Tenant may offer same to any other party on
such terms and conditions as Tenant shall elect, but only as to the portion of
the Premises and the term proposed in its notice to Landlord (subject to
Landlord's consent and other requirements of this Section 4.9). However, if the
material terms and conditions are subsequently altered (e.g., the effective
rental rate [taking into consideration any concessions which might be offered],
the portion of the Premises to be assigned or sublet, or the term of the
proposed sublet, is different from that originally proposed to Landlord),
Landlord shall again have a right of recapture, but Landlord's time to respond
shall be reduced to ten (10) days following receipt of the Intent Notice. Upon
Landlord's exercise of its recapture right hereunder, the Lease shall be amended
such that the Rentable Area of the Premises for the remainder of the Term, or
such portion thereof as Tenant has proposed to sublet, shall be deleted from the
Rentable Area of the Premises, effective as of the effective date of such
recapture. If the Term for which any sublet is proposed is less than the
remaining Term of this Lease, then immediately upon the expiration of the
proposed sublet term, the Rentable Area of the Premises shall again be adjusted
to reflect that the sublet portion has been reincorporated into the Premises,
and such adjustment shall occur automatically without need for a formal Lease
amendment.

         4.10 SUBORDINATION TO MORTGAGE. This Lease shall be subject and
subordinate to any mortgage or deed of trust which may now or hereafter encumber
the Building and to all renewals, modifications, consolidations, replacements
and extensions thereof. In confirmation of such subordination, however, Tenant
shall at Landlord's request execute and deliver promptly any appropriate and
commercially reasonable certificate or instrument that Landlord may request,
including a Subordination Agreement. In the event of the enforcement by the
mortgagee, trustee or the beneficiary under any such mortgage or deed of trust
of the remedies provided by law or by such mortgage or deed of trust, Landlord
shall, at Landlord's sole cost and expense, relocate Tenant to Comparable Space
as provided in Section 8.21.

         4.11 ESTOPPEL CERTIFICATE. Tenant shall, at any time and from time to
time, within ten (10) days following written request from Landlord, execute,
acknowledge and deliver a written statement certifying, if true, that this Lease
is in full force and effect and unmodified (or, if modified, stating the nature
of such modification), certifying the date to which Rent has been paid,
certifying whether or not, to Tenant's best knowledge, there are any uncured
defaults by Landlord or specifying such defaults if any are claimed, and
certifying such other matters as Landlord may reasonably request. Any such
statement may be relied upon by a prospective purchaser or mortgagee of all or
any part of the Building. Tenant's failure to deliver such statement within said
ten (10) day period shall constitute Tenant's certification that this Lease is
in full force and effect and unmodified, and that there are no uncured defaults
by Landlord.

         4.12 DEFAULTS BY LANDLORD.

                  4.12.1 LANDLORD'S DEFAULT. Breach of any covenant or agreement
or undertaking to be performed by Landlord under this Lease shall constitute a
default by Landlord hereunder. Notwithstanding the foregoing, Landlord shall not
be in default hereunder with respect to: (i) any obligation of Landlord to pay
money to Tenant hereunder unless Landlord has failed to pay such money to Tenant
within the applicable time period specified herein, and such failure continues
for a period of thirty (30) days after written notice from Tenant to Landlord;
and (ii) any other obligation of Landlord under this Lease, unless Landlord
fails to perform the obligation within thirty (30) days after Tenant has
delivered written notice thereof to Landlord; provided, however, that if the
nature of Landlord's obligation is such that more than thirty (30) days are
reasonably required for its performance, then Landlord shall not be in default
if Landlord commences performance within such thirty (30) day period and
thereafter diligently prosecutes the same to completion. Said thirty (30) day
period shall be extended by the period of time during which Landlord is actually
prevented from performing such obligation as a result of Tenant delays or Force
Majeure delays, provided that Landlord is at all times diligently prosecuting
such performance to completion.

                                       12
<PAGE>   16

                                       V.

                                    INSURANCE

         5.1 CASUALTY INSURANCE. During the Term, Landlord shall insure the
Building and the Building Complex against loss or damage by fire, or other
insurable hazards and contingencies through all risk insurance (which sometimes
may be referenced in the insurance industry as special cause of loss insurance),
including fire and extended coverage, in amounts, coverages and with deductibles
as are commercially reasonable and as are in effect for comparable Buildings.
Landlord shall not be obligated to insure any furniture, equipment, machinery,
goods or supplies which Tenant may bring or obtain upon the Premises or any
leasehold improvements which exceed in value or quantity the Building standards
for doors, lighting, partition walls and floor covering which Tenant may
construct, except that Landlord shall insure all furniture, fixtures and
equipment on behalf of Tenant from the Commencement Date through January 14,
2001. If the premiums for any casualty insurance exceed the standard rates
because Tenant's operations result in increased premiums, then Tenant shall,
promptly upon receipt of appropriate invoices, reimburse Landlord for same.
Tenant shall maintain at its expense, in an amount equal to full replacement
cost, fire and extended coverage insurance on all leasehold improvements
installed by or on behalf of Tenant and on all of its personal property,
including removable trade fixtures, located in the Premises plus such additional
insurance as may be required to meet Tenant's obligations under Section 5.2.2.

         5.2 LIABILITY INSURANCE.

                  5.2.1 LANDLORD'S OBLIGATION. During the Term, Landlord shall
obtain and keep in force commercial general liability insurance in amounts,
coverages and with deductibles as are commercially reasonable and as are in
effect for comparable Buildings. Landlord shall also provide the insurance
required pursuant to Paragraph 5.2.2 below from the Commencement Date through
January 14, 2001.

                  5.2.2 TENANT'S OBLIGATION. From and after January 15, 2001,
Tenant shall procure, and shall maintain during the Term, at Tenant's sole cost
and expense, commercial general liability insurance against claims for personal
and bodily injury, death or property damage occurring upon, in or about the
Premises with carriers and in amounts reasonably satisfactory to Landlord (but
not less than Three Million Dollars ($3,000,000.00) combined single limit for
bodily injury and property damage).

         5.3 INSURANCE STANDARDS; WAIVER OF SUBROGATION.

                  5.3.1 All such policies and renewals thereof as are required
in Sections 5.1 through 5.2 shall name Landlord and Tenant as additional
insureds. All policies of insurance shall provide (i) that no material change or
cancellation of said policies shall be made without thirty (30) days' prior
written notice to Landlord and Tenant, and (ii) with respect to property
insurance, that the insurance company issuing the same shall have waived any
right of subrogation against Landlord or Tenant. All policies of insurance which
are secured by Landlord and Tenant as required by this Lease shall include
appropriate deductible amounts so that insurance premiums therefor are
commercially reasonable. Before Tenant's initial entry into the Premises and
thereafter at least thirty (30) days prior to the expiration dates of said
policy or policies, both Landlord and Tenant shall provide each to the other
copies of policies or certificates of insurance evidencing all coverages
required of Landlord or Tenant or either of them by this Lease. All the
insurance required under this Lease shall be primary and non-contributory,
issued by companies which are rated at least A/X in Best's Insurance Reports and
authorized to do business in North Carolina. Insurance requirements may be
reasonably increased from time to time by Landlord in order to protect its
interest.

                  5.3.2 Except for Landlord's obligation to insure furniture,
fixtures and equipment of Tenant from the Commencement Date through January 14,
2001, neither Landlord nor Tenant shall be liable to the other or to any
insurance company (by way of subrogation or otherwise) insuring the other party
for any loss or damage to the Premises, the Building or other tangible property
of Landlord or Tenant, or any resulting loss of income, or losses under worker's
compensation laws and benefits, even though such loss or damage might have been
occasioned by the negligence of such party, its agents, employees, invitees or
contractors, if and to the extent that any such loss or damage is covered by
insurance benefiting the party suffering such loss or damage or was covered by
insurance pursuant to this Lease and proceeds from insurance are collectible.

         5.4 OTHER TENANTS; PARKING GARAGE. Landlord shall exercise commercially
reasonable efforts to assure that other tenants in the Building and the operator
of the Parking Garage will carry comprehensive general liability insurance at
commercially reasonable levels.

                                       13
<PAGE>   17

         5.5 NON-LIABILITY FOR CERTAIN CONDITIONS AND OCCURRENCES.

                  5.5.1 Landlord and Landlord's partners, agents, employees,
officers and directors shall not be liable to Tenant, Tenant's employees, or any
other person or entity whomsoever claiming through or under Tenant for any
injury to person or damage to property caused by the Premises or other portions
of the Building or Building Complex becoming out of repair or damaged, or by
defect in or failure of equipment, pipes or wiring, or broken glass, or by the
backing up of drains or by gas, water, steam, electricity or oil leaking,
escaping or flowing into the Premises.

                  5.5.2 Landlord and Landlord's partners, agents, employees,
officers and directors shall not be liable to Tenant or to Tenant's employees,
agents or visitors, or to any person or entity whomsoever, for injury to person
or damage to or loss of property (i) occurring in, on or about the Premises,
regardless of the cause, (ii) occurring within the Common Area, if caused by the
negligence or misconduct of Tenant, its officers, partners, employees, agents,
subtenants, licensees or concessionaires, (iii) arising out of the use of the
Premises by Tenant and the conduct of its business therein, (iv) arising out of
any breach or default by Tenant in the performance of its obligations hereunder,
(v) occasioned by or through the acts or omissions of other tenants or owners of
the Building and/or Building Complex or of any other persons or entities
whomsoever, excepting only the negligence or willful misconduct of duly
authorized employees and agents of Landlord, or (vi) resulting from any other
cause except Landlord's negligence or willful misconduct; and, in any of such
events, Tenant hereby agrees to indemnify Landlord and Landlord's partners,
agents, employees, officers and/or directors and hold each of them harmless from
any and all liability, loss, damage, claim, action or expense (including,
without limitation, all court costs and attorneys' fees) arising out of such
damage or injury due to any of the causes described above (other than those
described in clauses (v) and (vi) above). The provisions of this Article V shall
survive the termination of this Lease with respect to any claims or liability
attributable to acts, omissions, occurrences and/or conditions existing or
occurring prior to such termination.

         5.6 NO RELEASE. Tenant's and Landlord's indemnification obligations in
this Article V shall survive the expiration or earlier termination of this
Lease. Tenant's and Landlord's covenants, agreements and indemnity obligations
in this Lease are not intended to and shall not relieve any insurance carrier of
its obligations under policies required to be carried by Landlord or Tenant,
respectively, pursuant to the provisions of this Lease.

         5.7 CASUALTY DAMAGE. If the Premises shall be damaged by fire or other
casualty, Tenant shall give prompt written notice to Landlord. If the Building
or any part thereof or access thereto shall be so damaged or destroyed by fire
or other casualty that substantial alteration or reconstruction of the Building
and access thereto shall, in the good faith and reasonable determination of
Landlord's Architect, be required with such repair taking longer than ninety
(90) days (whether or not the Premises shall have been damaged by such
casualty), or in the event any Mortgagee should require that the insurance
proceeds be applied to the payment of the mortgage debt, or in the event of any
material uninsured loss to the Building, then this Lease shall not terminate,
but Landlord may, at its option, relocate Tenant to similar premises within the
Uptown Charlotte Area within ninety (90) days after the date of such damage, at
Landlord's cost, instead of restoring the Building and/or the Premises for
Tenant's use; provided, however that Landlord shall use reasonable efforts to
relocate Tenant's critical operations as soon as possible after such damage or
destruction. In order to relocate Tenant within the aforesaid ninety (90) day
period, Landlord shall have the right to temporarily place Tenant in separate
buildings within the greater Charlotte Area if necessary to accommodate the size
of Tenant's Premises. As soon as reasonably practicable thereafter, Landlord
shall relocate all of the Premises to one (1) building in the Uptown Charlotte
Area, however, the Premises shall not be required to be located on contiguous
floors within such building. Landlord shall not be liable for any inconvenience
or annoyance to Tenant or injury to the business of Tenant resulting in any way
from such damage, repair, or relocation. Upon restoration of the Premises or
relocation of Tenant, Tenant shall proceed to restore Tenant's furniture,
fixtures and equipment and any leasehold improvements installed by Tenant.
Landlord shall pay all relocation costs, as set forth in Section 8.21, unless
the casualty results from the fault or negligence of Tenant or any of Tenant's
agents, employees or invitees, in which case Tenant shall be liable to Landlord
for the cost of the repair and restoration of the Building to the extent such
cost and expense is not covered by insurance proceeds and for the cost of
relocation of Tenant.

         5.8 SELF-INSURANCE. Notwithstanding anything herein to the contrary,
Landlord reserves the right for itself, its successors and assigns to
self-insure against any risk required herein to be insured or otherwise assumed
by Landlord.

                                       14
<PAGE>   18

                                       VI.

                                  CONDEMNATION

         6.1 EFFECT OF CONDEMNATION. If the whole or substantially the whole of
the Premises or access thereto should be taken for any public or quasi-public
use, under any statute or by right of eminent domain or otherwise or should
title to the Building or access thereto be taken or be sold by private purchase
in lieu of condemnation, then Landlord shall, at its cost, and as of the date
when physical possession of the Premises is taken or access thereto is
substantially impaired by the condemning authority, relocate Tenant to
Comparable Space. Landlord shall locate and pay for Comparable Space, as well as
reinstall any of Tenant's leasehold improvements and move Tenant's furniture,
fixtures and equipment, as provided in Section 8.21.

         6.2 PROCEEDINGS IN CONDEMNATION. Landlord shall be entitled to receive
the entire amount of any compensation awarded or paid upon any taking described
in or governed by Section 6.1, except that Tenant shall be entitled to the
portions of such compensation or award that corresponds to the value of Tenant's
trade fixtures taken.

         6.3 NOTICE OF EXECUTION. Immediately upon service of process or other
notice upon either party in connection with any appropriation, taking or
temporary taking relating to the Building Complex, the Building, the Premises,
or access thereto, such party shall give written notice thereof to the other.
Each party agrees to execute and deliver to the other all instruments that may
be required to effectuate the provisions of this Article VI. Each party reserves
the right to appear in any proceedings in connection with any taking or
temporary taking.

                                      VII.

                                TENANT'S DEFAULT

         7.1 DEFAULT BY TENANT. Each of the following events shall be deemed to
be an event of default by Tenant under this Lease, if such event continues for a
period of (i) ten business (10) days for a monetary default or (ii) thirty (30)
days for a non-monetary default or any other default described in subparagraph
(a) hereof, after written notice thereof is delivered to Tenant (or such longer
cure period as may be specifically permitted by the applicable subparagraph);
provided, however, that no notice need be provided to Tenant if Tenant has
received a notice of default or noncompliance more than twice in the immediately
preceding twelve (12) month period:

                  (a)      If Tenant shall fail (i) to pay any installment of
                           Additional Rent or any other amount payable to
                           Landlord hereunder as and when herein provided, (ii)
                           to obtain the insurance coverage required hereunder
                           or (iii) to comply with the provisions of Section 4.3
                           regarding Hazardous Materials.

                  (b)      If Tenant shall become insolvent, or shall make a
                           transfer in fraud of creditors, or shall make an
                           assignment for the benefit of creditors.

                  (c)      If Tenant or any permitted sublessee or assignee,
                           shall (i) make an assignment for the benefit of
                           creditors, (ii) file or acquiesce in a petition in
                           any court (whether or not pursuant to any statute of
                           the United States or of any State) in any bankruptcy,
                           reorganization, composition, extension, arrangement
                           or insolvency proceedings, (iii) make an application
                           in any such proceedings for or acquiesce in the
                           appointment of a trustee, receiver or similar officer
                           for it or all or any portion of its property, or (iv)
                           have been a "debtor" in any voluntary or involuntary
                           bankruptcy proceeding on the date of execution of
                           this Lease without having disclosed the same to
                           Landlord in writing prior to such date.

                  (d)      If any petition shall be filed against Tenant or any
                           permitted sublessee or assignee (whether or not
                           pursuant to any statute of the United States or any
                           State) in any bankruptcy, reorganization,
                           composition, extension, arrangement or insolvency
                           proceedings and such proceedings shall not be
                           dismissed, discontinued, or vacated within thirty
                           (30) days after such petition is filed.

                  (e)      If in any proceedings, pursuant to the application of
                           any party other than Tenant in which it does not
                           acquiesce, a receiver, trustee or other similar
                           officer shall be appointed for Tenant or for all or
                           any portion of Tenant's property and such
                           receivership or trusteeship shall not be set aside
                           within thirty (30) days after such appointment.

                                       15
<PAGE>   19

                  (f)      If a receiver or Trustee shall be appointed for all
                           of the Premises or for all or substantially all of
                           the assets of Tenant.

                  (g)      If Tenant shall create or suffer the creation of a
                           lien upon the Premises in violation of the provisions
                           of this Lease.

                  (h)      If Tenant shall refuse to take possession of the
                           Premises on the Commencement Date.

                  (i)      If Tenant shall be a corporation and shall fail to
                           remain in good standing in the State in which the
                           Building is located or the State of its
                           incorporation, or shall, if a foreign corporation,
                           fail to qualify to transact business and/or maintain
                           a duly registered agent in the State in which the
                           Building is located.

                  (j)      If any execution, levy, attachment, or other process
                           of law shall occur upon Tenant's goods, fixtures or
                           interest in the Premises.

                  (k)      If Tenant shall at any time be in breach or default
                           in the observance or performance of any of the other
                           covenants and/or agreements required to be performed
                           and/or observed by Tenant hereunder.

                  Provided, however, that if any default by Tenant for which a
time to cure is not specifically addressed in the preceding subparagraphs (b)
through (j), which default is curable but shall reasonably require more than
thirty (30) days to cure, Tenant shall be afforded an additional time period to
effect such cure, provided Tenant commences to cure the default within the
initial thirty (30) day period and diligently prosecutes the same to completion.
Provided, further, that any default described in subparagraph (k) hereof, the
nature of which may impair Building security or Building systems, shall be
subject to Landlord's right to cure under Paragraph 7.2 hereof, regardless of
whether the applicable Tenant notice and cure periods have expired, provided
that Landlord shall have furnished written notice to Tenant of Landlord's intent
to cure prior to Landlord effecting a cure during the pendency of Tenant's
notice and cure periods.

         7.2 LANDLORD'S REMEDIES. Upon the occurrence of any event of default
and the lapse of any grace or cure periods without cure thereof, Landlord shall
have the option to pursue any one or more of the following remedies upon notice
to Tenant:

                  7.2.1 TERMINATION. Terminate this Lease or terminate Tenant's
right to possession, and in either event, accelerate all obligations of Tenant
owed Landlord under the Lease and force Tenant to immediately surrender the
Premises to Landlord. Tenant agrees to pay to Landlord on demand the costs which
Landlord may reasonably suffer by reason of such termination. Immediately upon
any termination Landlord shall be entitled to recover from Tenant all
outstanding and unpaid Rent as of the date of such termination and all future
Rent due.

                  7.2.2 POSSESSION. Enter upon and take possession of the
Premises and expel or remove Tenant and any other person who may be present, by
force if necessary (to the extent allowed by law), without terminating the Lease
or being liable for prosecution or any claim for damages, and, if Landlord so
elects, relet the Premises on such terms as Landlord may determine shall best
mitigate its damages and receive the rent therefor. Tenant agrees to pay to
Landlord on demand any deficiency that may arise by reason of such reletting.

                  7.2.3 ENTRY. Enter upon the Premises, by force if necessary
(to the extent allowed by law), without being liable for prosecution or any
claim for damages, and do whatever Tenant is obligated to do under the terms of
this Lease. Tenant agrees to reimburse Landlord on demand for any expenses which
Landlord may incur in effecting compliance with Tenant's obligations.

         7.3 REMEDIES CUMULATIVE. Pursuit of any one or more of the remedies
provided in this Lease shall not preclude pursuit of any other remedies provided
hereunder or by law, which shall be cumulative, nor shall pursuit of any remedy
constitute a forfeiture or waiver of any Rent due or of any damages accruing to
Landlord by reason of the breach. Actions to collect amounts due Landlord may be
brought from time to time, on one or more occasions without the necessity of
Landlord's waiting until the expiration of the Term.

         7.4 CURE RIGHTS. Landlord may cure, at any time, without notice except
as otherwise herein provided, any default by Tenant under this Lease. Whenever
Landlord so elects, all unrecovered costs and expenses incurred by Landlord in
curing a default, including, without limitation,

                                       16
<PAGE>   20

reasonable attorneys' fees, together with interest on the amount of costs and
expenses so incurred at the Contract Rate, shall be paid by Tenant to Landlord
on demand, and shall be recoverable as Rent.

         7.5 RIGHTS UPON POSSESSION. Upon the occurrence of an uncured event of
default by Tenant and exercise of Landlord's remedies hereunder, Landlord may
make such alterations, repairs, replacements and/or decorations in the Premises
as Landlord, in its commercially reasonable judgment, considers advisable and
necessary for reletting the Premises. Such undertakings shall not operate or be
construed to release Tenant from its liability. Except as may be required to
mitigate damages, Landlord shall in no event be liable in any way whatsoever for
failure in good faith to relet the Premises, or in the event that the Premises
are relet, for failure to collect the rent under such reletting. Subject to
Landlord's obligation to mitigate damages, the failure of Landlord to relet the
Premises or any part or parts thereof shall not release or affect Tenant's
liability for damages. In no event shall Tenant be entitled to any excess rent
obtained by reletting. In determining the amount of loss or damage which
Landlord may suffer by reason of termination of this Lease or the deficiency
arising by reason of any reletting of the Premises, Landlord shall be entitled
to recover, in addition to any other damages elsewhere provided in this Lease,
at law or in equity, such unrecovered reasonable expenses as Landlord may incur
in connection with reletting of the Premises (including, without limitation,
court costs, attorneys' fees and disbursements, brokerage expenses and expenses
for putting and keeping the Premises in good order or for preparing the same for
reletting as herein provided).

         7.6 PREVAILING PARTY; VENUE. If either party places in the hands of an
attorney the enforcement of this Lease, or any part thereof, or the collection
of any Rent or Additional Rent due or to become due hereunder, or recovery of
the possession of the Premises, or files suit upon the same, the non-prevailing
(or defaulting) party shall pay the other party's reasonable attorneys' fees and
court costs. If Tenant is entitled to receive reasonable attorneys' fees,
recovery of such fees shall not be affected if Tenant represents itself rather
than engaging independent counsel. The parties agree that any litigation
concerning this Lease may be brought before the Superior Court of North Carolina
and that Mecklenburg County, North Carolina shall be the proper venue for any
such action.

                                      VIII.

                            MISCELLANEOUS PROVISIONS

         8.1 FORCE MAJEURE. Whenever a period of time is prescribed for the
taking of any action by Landlord or by Tenant, neither Landlord nor Tenant shall
be liable or responsible for, and there shall be excluded from the computation
of such period of time, any delays due to strikes, fire, earthquakes, floods,
acts of God, governmental regulations, shortages or delay of labor or materials,
war, governmental laws, regulations or restrictions, or any other cause
whatsoever beyond the control of Landlord or Tenant, as applicable (all of which
are sometimes referenced collectively in this Agreement as "Force Majeure")
excluding however the financial condition or the unavailability or cost of funds
of either party.

         8.2 SALE OF THE BUILDING. Landlord shall have the right to transfer and
assign, in whole or in part, all its rights and obligations hereunder, and in
the Building and leasehold improvements, and upon the transferee's assumption of
Landlord's obligations hereunder, no further liability or obligations shall
accrue against Landlord. Any and all covenants of Landlord contained in this
Lease shall be binding upon Landlord and its successors only with respect to
breaches occurring during its and their respective ownerships of Landlord's
interest hereunder.

         8.3 NAME OF BUILDING. As of the Commencement Date, the name of the
Building is Transamerica Square. Landlord shall have the right and privilege at
its cost at any time to change the name of the Building. Subject to the sign
provisions set out elsewhere in this Lease, Landlord shall have exclusive
control over all signs, graphics or other wall ornamentation or displays in the
entrance lobby to the Building and in all Common Areas.

                                       17
<PAGE>   21
         8.4 NOTICES. All notices required under this Lease shall be in writing
unless expressly permitted otherwise. Any notice by either party to the other
shall be deemed to be duly given if either personally delivered with written
receipt to the respective addresses set forth below for each party or sent by
first-class mail, postage prepaid, return receipt requested, or by a nationally
recognized overnight courier service addressed as set forth below:

             If to Tenant        Exult, Inc.
                                 401 N. Tryon Street, 2nd Floor
                                 Charlotte, North Carolina  28202
                                 Attn: Client Executive

             with a copy to:     Exult, Inc.
                                 4 Park Plaza, Suite 1000
                                 Irvine, California  92641
                                 Attn: General Counsel

             If to Landlord:     c/o Corporate Real Estate
                                 525 N. Tryon Street
                                 NC1-023-04-03
                                 Charlotte, North Carolina 28255
                                 Attn: Headquarters Real Estate Asset Manager

Either party which desires to change the address as set forth above shall do so
by notice to the other party which complies with the requirements of this
Section 8.4.

         8.5 NO WAIVER. Neither Landlord's nor Tenant's failure to enforce or
delay in exercising any of the provisions, rights or remedies in this Lease
shall be a waiver, nor in any way affect the validity of this Lease or any part
hereof, or their respective right thereafter to enforce each and every such
provision, right or remedy. No waiver of any breach of this Lease shall be held
to be a waiver of any other or subsequent breach. The receipt by Landlord of
Rent, or any other payment by or to Tenant at a time when the Rent or the
payment of any other sum due hereunder is in default shall not be construed as a
waiver of such default. The receipt by Landlord of a lesser amount than the
Rent, or by Landlord or Tenant of any other sum due, shall not be construed to
be other than a payment on account which may be applied in such manner as such
party deems appropriate. Either Landlord or Tenant may accept any such payment
without prejudice to its right to recover the balance due or to pursue any other
remedies. No act or thing done by Landlord or its agents or employees during the
Term, including acceptance of keys or card keys, shall be deemed an acceptance
of a surrender of the Premises, and no agreement to accept such a surrender
shall be valid unless signed by Landlord.

         8.6 COMMISSIONS. Landlord and Tenant each represents and warrants to
the other that it has contacted no broker in connection with this Lease or the
Premises. Landlord and Tenant hereby indemnify and hold each other harmless
against any loss, claim, expense or liability with respect to any commissions or
brokerage fees claimed on account of the execution, expansion and/or renewal of
this Lease and the execution of the New Lease due to any action of the
indemnifying party.

         8.7 RIGHTS OF LIGHT, VIEW OR AIR. This Lease does not grant any rights
to light, view or air over adjacent property, and any diminution or shutting off
of light, view or air by any structure that may be erected adjacent to the
Building shall not affect this Lease or impose any obligation or liability upon
Landlord.

         8.8 SEVERABILITY. If any term or provision of this Lease, or the
application thereof to any person or circumstances shall to any extent be
invalid or unenforceable, the remainder of this Lease, or the application of
such provisions to persons or circumstances other than those as to which it is
invalid or unenforceable, shall not be affected thereby, and each provision of
this Lease shall be valid and shall be enforceable to the extent permitted by
law.

         8.9 RECORDATION. Landlord and Tenant agree not to record this Lease. At
Tenant's sole cost and expense, the parties shall execute and record the
Memorandum of Sublease attached hereto as Exhibit H.

         8.10 BINDING EFFECT. This Lease, including all exhibits attached
hereto, shall be binding upon and shall inure to the benefit of Landlord, its
successors and assigns, and Tenant, its successors, and to the extent assignment
and subletting may be approved by Landlord hereunder, Tenant's assigns and
sublessees. Each individual executing this Lease on behalf of the respective
parties represents and warrants that he or she is duly authorized to execute and
deliver this Lease on behalf of said party in accordance with the duly adopted
resolution of the Board of Directors of said corporation or in accordance with
the pertinent partnership agreements and that this Lease is binding upon said
party in accordance with its terms.

                                       18
<PAGE>   22
         8.11 ENTIRE AGREEMENT. The following lettered exhibits are attached
hereto and incorporated herein and made a part of this Lease for all purposes:

         Exhibit A - Description of the Premises

         Exhibit B - Work Letter Agreement
                     Schedule 1 Tenant's Plans

         Exhibit C - Cleaning Specifications

         Exhibit D - Rules and Regulations

         Exhibit E - Option to Expand

         Exhibit F - Services to be Provided by Landlord

         Exhibit G - Tenant's Parking Rights and Charges

         Exhibit H - Memorandum of Sublease

         Exhibit I - Extension of Term

         This Lease and the attached exhibits set forth all the covenants,
promises, agreements, conditions and understandings between Landlord and Tenant
concerning the Premises. Tenant agrees that Landlord and its agents made no
representations or promises with respect to the Premises, the Building, the
Building Complex or property of which the same are part except as herein
expressly set forth. Tenant shall make no claim on account of any
representations, whether made by any renting agent, broker, officer or other
representative of Landlord or which may be contained in a circular, prospectus
or advertisement related to the Building Complex or otherwise, unless the same
is specifically set forth in this Lease.

         8.12 AMENDMENTS. Except as expressly provided herein, no subsequent
alteration, amendment, change or addition to this Lease shall be binding upon
Landlord or Tenant unless reduced to writing and signed by them.

         8.13 COUNTERPARTS. This Lease may be executed in counterparts. Each
fully executed counterpart shall be an original and it shall not be necessary in
making proof of this Lease to produce or account for more than one such
counterpart.

         8.14 GOVERNING LAW. This Lease is declared to be a North Carolina
contract, and all of the terms hereof shall be governed by, construed and
enforced according to the laws and judicial decisions of the State of North
Carolina.

         8.15 INITIAL REPOSITIONING OF EMPLOYEES; SUBSEQUENT MOVES. Landlord and
Tenant acknowledge that, because Tenant will be assuming certain of Landlord's
employees and certain of Landlord's equipment and workstations as of the
Commencement Date pursuant to the Master Services Agreement to be executed by
the parties of even date herewith, some repositioning of employees of Landlord,
including workstations and equipment assigned to those employees, from the
Initial Premises will occur later than the Commencement Date. Additionally, some
repositioning of Tenant's employees, including workstations and equipment
assigned to those employees, from other areas of the Building to the Initial
Premises (such repositioning of Landlord's and Tenant's employees and their
workstations shall be referred to as the "Initial Moves") will also occur later
than the Commencement Date. All such Initial Moves shall occur on a schedule to
be mutually agreed to by Landlord and Tenant prior to the Commencement Date or
by such later date as is mutually agreed to by both parties within thirty (30)
days of the Commencement Date. Nevertheless, Tenant shall accept possession of
the Initial Premises on the Commencement Date and all provisions of this Lease,
including but not limited to the provisions related to insurance coverage, shall
apply as of such date. Landlord and Tenant agree that portions of each party's
respective premises shall be occupied by employees of the other party until such
time as all of the Initial Moves occur, and neither party shall have a claim for
rent or abatement of rent solely because of the failure to reposition employees
prior to the Commencement Date. Landlord's contract vendor shall be responsible
for the work relating to the Initial Moves (as defined below), including
relocating employees and moving and reinstalling computers and
telecommunications equipment, and all costs associated with moving, and
reinstalling computers and telecommunications equipment in the Initial Moves for
each party's respective employees shall be paid by such party. Any subsequent
relocation of the Tenant's employees and movement and reinstallation of
computers and telecommunications equipment ("Subsequent Moves") shall be paid by
the party that has caused such Subsequent Moves. Tenant shall have the right to
select its own vendor to accomplish any reconfiguration or re-wiring of the
Premises during the Initial Moves and any Subsequent Moves. All such work shall
be done in accordance with Section 4.7 of this Lease and at Tenant's sole cost.

         8.16 INTENTIONALLY DELETED.

         8.17 SHARED USE OF COMPUTER ROOM. Landlord shall construct a computer
room on the third (3rd) floor of the Building for the exclusive use of Tenant.
Tenant acknowledges that the

                                       19
<PAGE>   23

computer room will not be available as of the Commencement Date. Until such time
as the third (3rd) floor computer room is complete, Landlord and Tenant agree
that they shall share the existing computer room located on the second (2nd)
floor of the Building. Landlord and Tenant acknowledge that relocation of
computer equipment to separate the equipment of each party into its own computer
room may occur over a period of time which extends beyond the Commencement Date
of the Initial Premises and that there shall be no additional cost to either
party for the shared use of the existing computer room in the interim; provided,
however, that each party's property insurance shall be in force and effect with
respect to coverage of such party's equipment and neither party shall have
responsibility for loss or damage of the other party's equipment, unless such
loss or damage is due to the gross negligence or willful misconduct of such
party, its employees, agents, contractors and invitees. Landlord and Tenant
shall mutually agree upon the schedule for construction and completion of the
new computer room and movement of equipment within fifteen (15) days following
the Commencement Date. The cost of the new computer room and any costs
associated with the relocation of Tenant's equipment to such new computer room
shall be paid by Landlord.

         8.18 EQUIPMENT ACCESS. Tenant shall be provided with reasonable access
to the equipment rooms (including the second floor computer room for such time
as it is jointly shared by Landlord and Tenant), telephone rooms, condensers and
other areas on the floors of the Premises in which Tenant's equipment may be
placed. Tenant agrees that Tenant shall not be given access to the roof of the
Building except in accordance with the terms and conditions of Landlord's
standard rooftop license agreement, and site plans approved by Landlord in
writing. Provided, however, that there shall be no additional charge to Tenant
for a single, receive-only satellite dish or a single antenna of a size
reasonably acceptable to Landlord for Tenant's sole purposes, so long as such
communications equipment is intended solely for the Tenant's uses in the
Premises, does not increase the fire and hazard insurance premiums for the
Building, does not present any structural or aesthetic concerns (it being
acknowledged by Landlord that aesthetic concerns may be addressed by appropriate
screening) and does not interfere with rooftop rights already granted to other
tenants of the Building or with Landlord's own existing rooftop uses. No such
rooftop use shall be permitted to the extent it is intended to provide services
to users other than Tenant or to premises other than the Premises.

         8.19 LIMITS ON CERTAIN LIABILITIES. Notwithstanding any other provision
of this Lease, neither Landlord nor Tenant nor any partner (including those
holding a partnership interest in Landlord or Tenant), director, officer, agent
or employee of Landlord or Tenant shall be liable for any indemnified claims
caused by or arising from the actions or omissions of other tenants in or about
the Building or Building Complex, or caused by any public work. Tenant
specifically agrees to look solely to Landlord's equity in the Building for the
recovery of any judgment against Landlord and shall not be entitled to deduct
the amount of any such judgment from Rent. Landlord, or if Landlord is a
partnership, its partners, whether general or limited, or if Landlord is a
corporation, its directors, officers or shareholders, shall never be personally
liable for any such judgment. The terms and provisions of this Section 8.19
shall survive the expiration or earlier termination of this Lease.

         8.20 STATUS AS SUBLEASE. Both Landlord and Tenant hereby recognize and
acknowledge that Owner owns the Building Complex of which the Building is a part
and that Landlord's interest in the Building is that of a sub-tenant under a
master sublease between Owner and Bank of America Corporation, and this Lease
is, in fact, a sub-sublease, under which Landlord is a sub-sublessor and Tenant
is a sub-sublessee. For purposes of identification and to facilitate the reading
and preparation of the instrument, the parties are referred to as "Landlord" and
"Tenant" and the instrument as "Lease".

         Any rights or remedies provided to Tenant under this Lease can be
exercised only against Landlord and Tenant shall have no claim, right or remedy
against Owner or Bank of America Corporation.

         8.21 RELOCATION. Landlord, at its expense and at any time during the
Term of this Lease, shall be entitled to cause Tenant to relocate from the
Premises only if: (i) the term of the Master Lease shall have expired and shall
not have been extended; (ii) the Premises shall have been damaged by fire or
other casualty, as provided in Section 5.7; (iii) the whole or substantially the
whole of the Premises shall have been taken by condemnation or otherwise, as
provided in Section 6.1; (iv) other tenants of the Building with prior expansion
rights shall have exercised such rights with respect to all or a portion of the
Premises; (v) there shall have been an enforcement of the remedies provided to a
mortgagee, trustee or beneficiary, as provided in Section 4.10; or (vi) Tenant
shall have consented to such relocation. Such permissible relocations (each, a
"Relocation") shall be to alternative space within Uptown Charlotte containing
approximately the same Rentable Area as the Premises (the "Relocation Space") at
any time upon prior written notice to Tenant as soon as reasonably possible
after Landlord's knowledge that such Relocation would be necessary or advisable,
but in no event less than two hundred seventy (270) days' prior to such proposed
relocation, except in an event of casualty or condemnation, when the notice
provided may be shorter due to the circumstances.

                                       20
<PAGE>   24

Such Relocation Space shall be Comparable Space. Landlord shall pay for all
reasonable costs of such Relocation, including but not limited to any necessary
cabling, phone switches, reinstallation of fixtures and furniture and all such
other expenses necessary to provide a turn key environment similar to the
existing environment. Landlord shall endeavor to provide Relocation Space with a
floor plate of at least twenty-five thousand (25,000) square feet. Such
Relocation shall not affect this Lease except that from and after the date of
such Relocation, "Premises" shall refer to the Relocation Space into which
Tenant has been moved rather than the original Premises. In the event Landlord
exercises its right to relocate Tenant as set forth in this Section 8.21,
Landlord and Tenant agree to enter into an amendment to this Lease substituting
the Relocation Space for the original Premises, extending the Term as more
particularly set forth in Section 8.25 below, and designating the space within
such Building which will be available for Tenant's Expansion Space (if not
already exercised). Notwithstanding any statement to the contrary contained in
the foregoing paragraph, if Tenant elects pursuant to Exhibit E to expand onto
the sixth (6th) floor of Transamerica Square, Tenant shall bear full
responsibility for the cost of later relocating Tenant from the sixth (6th)
floor if due to the election of Transamerica as tenant to expand into the sixth
(6th) floor.

         8.22 SURVIVAL. The provisions of this Lease shall survive the
expiration or termination of this Lease.

         8.23 DRAFTING. Landlord and Tenant acknowledge that this Lease was
negotiated at arms length and that no presumptions in favor of or against the
drafter shall apply to the interpretation of this Lease.

         8.24 RIGHT OF EARLY TERMINATION. If Landlord cancels or terminates the
Master Services Agreement (or if Tenant terminates pursuant to a right of Tenant
to terminate because Landlord is in default beyond applicable cure periods) and
such cancellation or termination is effective prior to the Stated Expiration
Date, then Tenant may elect either to (i) terminate this Lease; or (ii) remain
in the Premises for the remainder of the initial Term. If Tenant elects to
terminate, such election shall be exercised by written notice provided to
Landlord not later than thirty (30) days following the date of such cancellation
or termination of the Master Services Agreement. If Tenant elects to terminate
this Lease, Tenant may also elect, within the same written notice, to holdover
for a period not to exceed six (6) calendar months following the date of such
termination. Upon such early termination, Landlord shall reimburse Tenant for
the Base Rent allocable to the Initial Premises only for the portion of the
initial Term of this Lease (up to the Stated Expiration Date) which remains
following the date Tenant vacates the entire Premises, at the annual rate of
[***]* per square foot discounted to net present value at the ninety (90) day
LIBOR rate as of the date Tenant vacates the entire Premises. Such reimbursement
of Base Rent shall be payable within ninety (90) days after (i) this Lease has
terminated, or (ii) Tenant has vacated the Premises, whichever shall be later.
If Tenant elects to holdover as provided above, and the holdover period extends
beyond the Stated Expiration Date, then Tenant shall pay Base Rent during such
extended period equal to the Market Rate determined in accordance with the
provisions of Exhibit E only for the portion of such holdover period which
extends beyond the Stated Expiration Date.

         8.25 NEW LEASE. Landlord and Tenant acknowledge that the Term set forth
in Section 2.1.1 of this Lease is co-terminous with the Master Lease. In the
event of a Relocation pursuant to Section 8.21 above, the Term of this Lease
shall automatically extend to the Stated Expiration Date. In the event Landlord
does not exercise its right to relocate Tenant to alternative space and Tenant
continues to occupy the Premises, then Landlord shall enter into a new lease
with Tenant for the Premises, upon the same terms and conditions set forth in
this Lease, except that the term thereof shall commence on September 29, 2007
and shall end on the Stated Expiration Date (the "New Lease"). Landlord may
cause the New Lease to be executed for successive one year periods until the
Stated Expiration Date in lieu of a single lease term if the Master Lease is
extended in one year increments and, in such event, Section 8.21 shall remain in
effect during such extended periods. Landlord and Tenant agree to enter into the
New Lease no later than sixty (60) days prior to the expiration of this Lease.
Landlord shall be responsible for all costs associated with relocating Tenant to
the new premises covered under the New Lease. In the event Landlord extends the
Term of the Master Lease or obtains ownership of the Building during the Term of
this Lease, at Landlord's sole discretion, Tenant shall continue to occupy the
Premises and the New Lease shall cover the Premises rather than Comparable
Space.

         8.26 BASE BUILDING PLANS AND SPECIFICATIONS. Tenant has reviewed and
accepted Landlord's Base Building plans and specifications affecting the
Premises prior to execution of this Lease. Landlord represents and warrants to
Tenant that, as of the Commencement Date, the Building, to the extent
constructed by Landlord or Landlord's contractor, has been constructed
substantially in compliance with the applicable requirements of the Base
Building plans reviewed by Tenant pursuant to this Section 8.26.

--------------
* Confidential information has been omitted.

                                       21
<PAGE>   25

         8.27 TENANT'S TERMINATION FEE. If Tenant elects not to exercise any
further renewal rights upon the Stated Expiration date of the Master Services
Agreement, then Tenant shall be obligated to pay to Landlord a termination fee
equal to Base Rent at the Market Rate on the Premises for a [***]* month period,
unless Tenant elects to remain in the Premises and pay Base Rent during such
holdover period.

         IN TESTIMONY WHEREOF, the parties, by authority duly given, have
executed this Lease as of the date set forth on the first page of this Lease.

ATTEST:                                    LANDLORD:

                                           BANK OF AMERICA, NATIONAL ASSOCIATION
By:                                        a national banking association
    ---------------------------------
    its                     Secretary
        -------------------
                                           By:
                                               ---------------------------------
                                           Name:    John G. Saclarides
                                           Title:   Senior Vice President

ATTEST:                                    TENANT:

                                           EXULT, INC.,
                                           a Delaware corporation

By:                                        By:
    ---------------------------------          ---------------------------------
    its                     Secretary      Name:
        -------------------                      -------------------------------
                                           Title:                  President
                                                  ----------------

--------------
* Confidential information has been omitted.

                                       22
<PAGE>   26

                              SCHEDULE OF EXHIBITS

Exhibit A - Description of the Premises

Exhibit B - Work Letter Agreement

            Schedule 1 - Tenant's Plans

Exhibit C - Cleaning Specifications

Exhibit D - Rules and Regulations

Exhibit E - Option to Expand

Exhibit F - Services to be Provided by Landlord

Exhibit G - Tenant's Parking Rights and Charges

Exhibit H - Memorandum of Sublease

Exhibit I - Extension of Term

                                       23
<PAGE>   27

                                    EXHIBIT A

                           FLOOR PLAN OF THE PREMISES

            Original document includes a floor plan of the premises.

                                       24
<PAGE>   28

                                    EXHIBIT B

                              WORK LETTER AGREEMENT

                         A. CONSTRUCTION OF THE PREMISES

         (1) Any Alterations to the Premises shall be the responsibility of
Tenant ("Tenant's Work"), including, without limitation, all items required by
applicable building and occupancy codes.

         (2) Tenant, at its sole cost and expense, shall cause to be prepared by
Tenant's Architect and, if required by Landlord, an engineering firm reasonably
qualified to address structural and MEP components, final working plans and
specifications of Tenant's Work suitable for construction containing, without
limitation, at least the information requested on Schedule 1 of this Exhibit B.
Tenant shall provide such plans and specifications to Landlord for Landlord's
approval. As approved by Landlord, such final working plans and specifications
are referred to as "Tenant's Plans." Any changes to such final plans and
specifications during construction shall be subject to the reasonable approval
of Landlord.

         (3) Workmanship and materials used in construction of Tenant's Work
shall be of the highest quality. Landlord approves _____________________________
_________________________ as Tenant's general contractor. If Tenant wishes to
use a different general contractor, Tenant shall submit the name of the proposed
contractor and its project manager for Landlord's prior approval, along with
information on at least three (3) comparable projects completed by the
contractor, if requested by Landlord and if the contractor has not previously
worked in the Building. Any contractors and/or subcontractors engaged by Tenant
shall comply with all reasonable, nondiscriminatory rules and regulations
established by Landlord to promote safety and quality of construction in the
Building. All design, construction and installation for Tenant's Work shall
conform to the requirements of the National Board of Fire Underwriters, all
applicable building, plumbing and electrical codes and the requirements of all
Governmental Authorities having jurisdiction over or with respect to Tenant's
Work. Tenant or its contractors shall secure all necessary building and
occupancy permits and/or approvals from all Governmental Authorities to allow
Tenant to complete the Alterations and to use and occupy the Premises, and shall
provide Landlord with copies of such permits.

         (4) Entry of Tenant, its employees, agents and contractors upon the
Premises and completion of Tenant's Work shall be subject to all the provisions
of this Lease, including, without limitation, the provisions of Sections 4.7 and
5.2. Tenant agrees to indemnify Landlord, its agents, employees and contractors
and to hold them harmless from and against any and all losses, costs, claims and
liabilities of every kind and description which may arise out of or be connected
in any way with the performance of Tenant's Work and not caused or contributed
to by the negligence or wrongdoing of Landlord, its employees, agents and
contractors.

         (5) Landlord shall permit Tenant and Tenant's duly authorized agents
and Tenant's approved contractors and subcontractors to enter the Premises and
to use designated elevators in the Building, in order that Tenant may install
Tenant's Work, and otherwise adapt the Premises for Tenant's use. The foregoing
license is conditioned upon Tenant's duly authorized agents and contractors not
interfering with the rights of other tenants, including employees of Landlord,
to quiet enjoyment, and complying with all rules and regulations established by
Landlord and/or Landlord's Building Manager to promote safety and quality of
construction; failure of such compliance shall entitle Landlord to compel Tenant
to use its best efforts to discharge the contractors or subcontractors who fail
so to comply but shall not constitute revocation of the license granted herein.
This license is further conditioned upon the employment by the contractors or
subcontractors engaged by Tenant of workers and means to insure the progress of
the work without interruption on account of strikes, work stoppage or similar
causes for delay. Such license is further conditioned upon worker's compensation
and public liability insurance, in the minimum amounts required by law,
commercial general liability insurance with not less than Five Million Dollars
($5,000,000.00) coverage per occurrence and Five Million Dollars ($5,000,000.00)
in the aggregate, and property damage insurance, including builders risk in
amounts acceptable to Landlord, naming Landlord as loss payee as its interest
may appear, all with companies and on forms as required pursuant to Article V of
this Lease, being provided and at all times maintained by Tenant's duly
authorized agents and contractors engaged in the performance of such work, and
certificates of such insurance being furnished to Landlord prior to proceeding
with such work. The parking for Tenant's general contractor and its
subcontractors and their employees shall not be the responsibility of Landlord.

         (6) Tenant shall not start any construction in the Premises until all
of the following have been accomplished: (a) Landlord has approved Tenant's
plans and specifications, (b) Landlord has approved Tenant's contractor and
subcontractors, (c) Tenant has secured and furnished Landlord with copies of all
building permits from the appropriate Governmental Authorities, (d) Tenant has
furnished

                                       25
<PAGE>   29

Landlord with certificates of insurance evidencing the policies of insurance
required under Sections 4.7 and 5.2 of this Lease and in the foregoing paragraph
(5) and (e) Tenant's general contractor has acknowledged receipt of the Rules
and Regulations. Tenant shall provide Landlord with copies of all building
permits within ten (10) days of Tenant's receipt thereof.

         (7) Tenant's Work shall proceed strictly in accordance with Tenant's
Plans and the rules and regulations established by Landlord and/or Landlord's
general contractor to promote safety and quality of construction in the
Building. Upon completion of Tenant's Work, Tenant shall deliver to Landlord one
set of as-built plans for the Premises.

         (8) The actual cost of utilities consumed in the Premises and the cost
of elevator service to and from the Premises during construction of Tenant's
Work, without any markup, shall be paid for or reimbursed to Landlord by Tenant.

         (9) Tenant shall be charged a supervisory fee by Landlord equal to the
actual, third party cost to Landlord of review of Tenant's construction plans
and periodic review of the progress of Tenant's construction.

         (10) Tenant may store its construction materials in the Premises during
the construction period. Tenant shall not use other floors in the Building for
the storage of materials.

                              B. TENANT ALLOWANCES
                (Optional Section with regard to Expansion Space)

         (1) (a) Provided Tenant is not then in default under this Lease,
Landlord will provide to Tenant an allowance for reimbursement of the costs of
the construction of Tenant's Work in the amount of ________________ Dollars
($_______) per square foot of Rentable Area in the Premises (the "Construction
Allowance"). Tenant may use the Construction Allowance for any leasehold
improvements in the Premises, including furniture, fixtures and telephone
equipment and for relocation expenses. As soon as reasonably possible after
completion of Tenant's Work, Landlord shall audit disbursements of the
Construction Allowance to determine whether any portion of the Construction
Allowance remains. Any unused portion of the Construction Allowance shall be
applied by Landlord to monetary obligations owed by Tenant to Landlord;
thereafter, if there is any balance of the Construction Allowance remaining,
such balance shall be retained by Landlord without credit to Tenant.

         (2) Landlord shall not be obligated to make any disbursements of
Tenant's Construction Allowance prior to the actual commencement of Tenant's
Work nor shall Landlord be obligated to make more than one disbursement in any
thirty (30) day period. Disbursements of the Construction Allowance shall be
made in accordance with pay applications provided by Tenant's general
contractor, as certified by Tenant's Architect and approved by Tenant, all in
accordance with the following guidelines. Ninety percent (90%) of the
Construction Allowance shall be disbursed to Tenant's contractor as Tenant's
Work is installed within the Premises and Tenant incurs the obligation of such
installations, and the remaining ten percent (10%) of the Construction Allowance
shall be payable upon completion of Tenant's Work as provided in paragraph B(4)
below. Each request for a disbursement shall be accompanied by the Supporting
Documents described in paragraph B(3) below, and the amount of each such
disbursement shall not exceed the lesser of: (a) the amounts then due to
Tenant's contractors, laborers and suppliers with respect to Tenant's Work, as
certified pursuant to subparagraph 3(a) below, or (b) ninety percent (90%) of
the total Construction Allowance, less the aggregate of all previous
disbursements. Provided Landlord shall receive a valid request for such
disbursement and all appropriate Supporting Documents on or before the first day
of a month, Landlord shall pay such disbursement to Tenant's general contractor
or subcontractors before the end of such month. The obligation of Landlord to
make each disbursement is subject to the condition precedent that on the date of
such disbursement no event has occurred and is continuing which constitutes a
default by Tenant under this Lease or would constitute an event of default but
for the requirement that notice be given or time elapse, or both. After such
disbursement by Landlord of the Construction Allowance as provided above, Tenant
shall be solely responsible for disbursement to Tenant's general contractor or
subcontractors of payments of the cost of construction of Tenant's Work.

         (3) The term "Supporting Documents" shall mean with respect to each
disbursement:

                  (a) written certification reasonably satisfactory to Landlord
         by Tenant's [insert title of authorized officer] or his or her designee
         (i) certifying an itemized statement of the actual costs and expenses
         incurred by Tenant with respect to the work performed and material
         provided in connection with Tenant's Work, together with the invoices
         therefor, and (ii) approving payment by Landlord of Tenant's
         contractor's request for payment;

                                       26
<PAGE>   30

                  (b) the affidavit of Tenant's general contractor that all
         subcontractors, laborers, artisans, mechanics and material suppliers
         engaged in or supplying labor or materials for Tenant's Work have been
         paid in full with respect to labor and materials the cost of which was
         covered by any prior disbursement;

                  (c) waivers of lien and releases executed by Tenant's general
         contractor and, if requested by Landlord, any major subcontractor,
         laborer, artisan, mechanic or materials supplier engaged in or
         supplying labor or materials for Tenant's Work to date;

                  (d) written certification by Tenant's Architect to the effect
         that Tenant's Work to date has been completed in accordance with
         Tenant's Plans and the other provisions of this Lease; and

                  (e) such other documents or statements that Landlord may
         reasonably request.

         (4) Prior to or upon occupancy of any portion of the Premises for the
conduct of its business, Tenant shall deliver to Landlord the following (the
"Final Documents"):

                  (a) a copy of any temporary and, when issued, the permanent
         Certificate of Occupancy for the Premises;

                  (b) written certification reasonably satisfactory to Landlord
         by Tenant's [insert title of authorized officer] or his or her designee
         certifying an itemized statement of the actual final costs and expenses
         incurred by Tenant with respect to the work performed and materials
         provided in connection with Tenant's Work and certifying that all such
         costs and expenses have been paid in full, together with evidence
         reasonably satisfactory to Landlord to such effect;

                  (c) the affidavit of Tenant's general contractor that all
         subcontractors, laborers, artisans, mechanics and material suppliers
         engaged in or supplying labor or materials for Tenant's Work have been
         paid in full;

                  (d) a waiver of lien with respect to the Premises executed by
         Tenant's general contractor and, if requested by Landlord, waivers of
         lien executed by any major subcontractor, laborer, artisan, mechanic or
         material supplier engaged in or supplying labor or materials for
         Tenant's Work;

                  (e) written certification by Tenant's Architect to the effect
         that Tenant's Work has been completed in accordance with Tenant's Plans
         and the other provisions of this Lease; and

                  (f) such other documents or statements that Landlord may
         reasonably request.

Within ten (10) days after receipt by Landlord of the Final Documents, together
with a valid request for disbursement, Landlord shall make the final
disbursement of the Construction Allowance (anticipated to be only the ten
percent (10%) of disbursements retained under paragraph B(2) above), provided
that such final disbursement shall in no event exceed the amount of the actual
final costs and expenses incurred by Tenant's general contractor with respect to
Tenant's Work as certified pursuant to subparagraph 4(b) above, less the
aggregate of all the previous disbursements.

                                       27
<PAGE>   31

                                    EXHIBIT B

                           SCHEDULE 1 - TENANT'S PLANS

Tenant's Plans shall contain, without limitation, the following:

         (a)      Location and type of all partitions and doors (specify
                  hardware and provide keying schedule), glass partitions,
                  windows and glass doors (indicate framing sections if not
                  building standard).

         (b)      Indicate all critical dimensions necessary for construction.

         (c)      Location of telephone equipment room accompanied by an
                  approval of the telephone company.

         (d)      Location of all Building standard and above Building standard
                  electrical items including outlets, switches, telephone
                  outlets and lighting.

         (e)      Location and type of equipment having special electrical
                  requirements with manufacturer's specifications for use and
                  operations.

         (f)      Location, weight per square foot and description of any
                  equipment or filing system exceeding 50 pounds per square foot
                  live load, including 20 pounds per square foot for partitions.

         (g)      Requirements for special air conditioning or ventilation,
                  including occupancy information of each room and space.

         (h)      Type and color of floor covering, wall covering and paint or
                  finishes.

         (i)      Requirements for special plumbing including all line sizes,
                  fixtures and specifications.

         (j)      Location and type of kitchen equipment including
                  specifications.

         (k)      Details showing:

                  (1)      Construction of all partition types.

                  (2)      Head, jam and sill sections with elevations for all
                           door types.

                  (3)      All shelving, cabinet work and architectural millwork
                           with dimensions and dimensions of all equipment to be
                           built in.

                  (4)      Any special corridor entrance with framing and
                           support requirements.

                  (5)      Bracing or support of special walls, glass
                           partitions, drapery track, etc.

         (l)      All mechanical and electrical information and detail as
                  required.

                                       28
<PAGE>   32

                                    EXHIBIT C

                             CLEANING SPECIFICATIONS

<TABLE>
<CAPTION>
GENERAL CLEANING                                                      DA     WE       MO       TN      S/C
<S>                                                                   <C>    <C>      <C>      <C>     <C>
Empty all waste baskets and trash containers                           X

Replace soiled trash liners (as needed)                                X

Empty and damp wipe all ash trays                                      X

Dust all horizontal surfaces (where clear of objects/materials)        X

Dust all high ledges, shelves, picture frames, etc.                                    X

Dust all baseboards and all low dusting not performed daily                            X

Clean and sanitize all drinking fountains                              X

Upon completion of cleaning, turn off lights & lock doors              X

FLOOR WORK-VINYL COMPOSITE TILE                                       DA     WE       MO       TN      S/C

Dust mop or sweep                                                      X

Spot mop and remove spillage                                           X

Damp mop or wet mop                                                           X

Buff or spray buff                                                                             4X

CARPET CARE                                                           DA     WE       MO       TN      S/C

Vacuum traffic lanes                                                   X

Remove all spots and stains when possible                              X

Completely vacuum all carpet including edges                                  X

Pile lift carpeted areas                                                                               X

Machine clean                                                                                          X

RESTROOMS                                                             DA     WE       MO       TN      S/C

Clean mirrors and all metal surfaces                                   X

Clean and disinfect all toilets and urinals                            X

Clean all wash basins                                                  X

Mop floors using disinfectant                                          X

Fill soap dispensers, towel and tissue holders                         X

Clean partitions and ledges                                                   X

Scrub bathroom floors                                                                 1X

Report all stopped commodes and leak to building manager               X

WALLS, WOODWORK AND OVERHEAD                                          DA     WE       MO       TN      S/C

Dust light fixtures                                                                                     X

Dust ceiling vents                                                                                      X

STAIRWELLS                                                            DA     WE       MO       TN      S/C

Police for debris                                                      X

Sweep or vacuum                                                                                 8

Damp mop and dust handrails                                                                     8

ELEVATORS                                                             DA     WE       MO       TN      S/C

Vacuum or mop floors                                                   X

Polish all metal surfaces                                              X

Vacuum elevator tracks                                                 X

Polish elevator tracks                                                        X
</TABLE>

                                       29
<PAGE>   33

<TABLE>
<CAPTION>
OTHER REQUESTED OPERATIONS                                            DA     WE       MO       TN      S/C
<S>                                                                   <C>    <C>      <C>      <C>     <C>

Spot clean entrance door glass                                         X

Spot clean partition glass                                             X

Clean partition glass                                                                  X

Clean perimeter windows inside (exterior facade)                                               1X

Clean perimeter windows outside (exterior facade)                                              2X

CODES:
DA:      Daily (business days)
WE:      Weekly
MO:      Monthly
TN:      Times Per Year
S/C:     Separate Charge
</TABLE>

                                       30
<PAGE>   34

                                    EXHIBIT D

                              RULES AND REGULATIONS

1.       Sidewalks, doorways, vestibules, halls, stairways and similar areas
         shall not be obstructed nor shall refuse, furniture, boxes or other
         items be placed therein by Tenant or its officers, agents, servants or
         employees, or used for any purpose other than ingress or egress to and
         from the Premises, or for going from one part of the Building to
         another part of the Building. Canvassing, soliciting and peddling in
         the Building are prohibited.

2.       Plumbing, fixtures and appliances shall be used only for the purposes
         for which constructed, and no unsuitable material shall be placed
         therein.

3.       No signs, directories, posters, advertisements, or notices shall be
         painted or affixed on or to any of the windows or doors, or in
         corridors or other parts of the Building, except in such color, size,
         and style, and in such places, as shall be first approved in writing by
         Landlord in its discretion. Building standard suite identification
         signs will be prepared by Landlord in accordance with the terms of the
         Lease.

4.       Tenant shall not do, or permit anything to be done in or about the
         Building, or bring or keep anything therein, that will in any way
         increase the rate of fire or other insurance on the Building, or on
         property kept therein or otherwise increase the possibility of fire or
         other casualty.

5.       Landlord shall have the right to prescribe the weight and position of
         heavy equipment or objects which may overstress any portion of the
         floors of the Premises. All damage done to the Building by the improper
         placing of such heavy items will be repaired at the sole expense of
         Tenant.

6.       Tenant shall notify the Building Manager when safes or other heavy
         equipment are to be taken in or out of the Building, and such moving
         shall only be done after written permission is obtained from Landlord
         on such conditions as Landlord shall require.

7.       Corridor doors, when not in use, shall be kept closed. Stairwell doors
         shall remain closed at all times. Tenant shall use reasonable efforts
         to ensure that all office doors leading to corridors are locked and all
         lights are turned out at the close of the working day.

8.       All deliveries must be made via the loading dock and service elevators
         during Normal Business Hours. Landlord's written approval must be
         obtained for any delivery after Normal Business Hours. Passenger
         elevators are to be used only for the movement of persons.

9.       Tenant shall cooperate with Landlord's employees in keeping the
         Premises neat and clean.

10.      Tenant shall not cause or permit any improper noises in the Building,
         or allow any unpleasant odors to emanate from the Premises, or
         otherwise interfere with, injure or annoy in any way other tenants, or
         persons having business with them.

11.      No animals (other than seeing eye dogs) shall be brought into or kept
         in or about the Building.

12.      No machinery of any kind, other than that which is subject to normal
         business practices, such as typewriters, calculators, vending machines,
         kitchen appliances and business computers, shall be operated on the
         Premises without the prior written consent of Landlord, nor shall
         Tenant use or keep in the Building any inflammable or explosive fluid
         or substance, or any illuminating materials. No space heaters or fans
         shall be operated in the Building.

13.      No bicycles, motorcycles or similar vehicles will be allowed in the
         Building.

14.      No nails, hook or screws shall be driven into or inserted in any
         perimeter wall of the Building except as approved by the Building
         Manager.

15.      Landlord has the right to evacuate the Building in the event of an
         emergency or catastrophe.

16.      Except for normal office vending machine services, and routine business
         lunch meetings, business receptions or events in the Premises, no food
         and/or beverages shall be distributed from the Premises without prior
         written approval of the Building manager.

                                       31
<PAGE>   35

17.      No additional locks shall be placed upon any doors without the prior
         written consent of Landlord. All necessary keys shall be furnished by
         Landlord, and the same shall be surrendered upon termination of the
         Lease. Tenant shall then give Landlord or its agent all relevant
         information regarding any Tenant security system, including, but not
         limited to, an explanation of the combination or access code to all
         locks, keypads and all other security or locking devices on the doors
         or vaults. No duplicates of such keys shall be made by Tenant or its
         employees. Additional keys shall be obtained only from Landlord, for a
         fee equal to Landlord's cost.

18.      Tenant will not locate furnishings or cabinets adjacent to mechanical
         or electrical access panels or over air conditioning outlets so as to
         prevent operating personnel from servicing such units as routine or
         emergency access may require. Cost of moving such furnishings for
         Landlord's access will be for Tenant's account. Only personnel
         designated by Landlord may work on the lighting and air conditioning
         equipment of the Building.

19.      Tenant shall comply with reasonable parking rules and regulations as
         may be posted and distributed from time to time.

20.      No portion of the Building shall be used as an overnight sleeping
         accommodation.

21.      Prior written approval, which shall be at Landlord's sole discretion,
         must be obtained for installation of window shades, blinds, drapes, or
         any other window treatment whatsoever. Landlord will control all
         internal lighting that may be visible from the exterior of the Building
         and shall have the right to change any unapproved lighting, without
         notice to Tenant, at Tenant's expense.

22.      Tenant shall not waste heat or air conditioning and agrees to cooperate
         fully with Landlord to assure that there is an effective and energy
         efficient operation of such heating and cooling systems.

23.      Smoking is not permitted in any of the Building's public or open areas
         (e.g., lobbies, elevators, corridors or restrooms) at any time.
         Individual full-floor tenants may provide smoking areas within their
         leased premises for their employees, clients and/or customers provided
         that Tenant is in full compliance with all applicable city and state
         code provisions and standards which regulate such smoking, and provided
         further that a separate air filtration system specifically designed to
         filtrate second hand cigarette smoke is installed by Tenant in the
         Premises. In the event Tenant chooses to provide smoking areas as
         aforesaid, Tenant agrees to indemnify and hold Landlord harmless from
         and against any liability, loss, expense or claim (including, but not
         limited to reasonable attorneys' fees) arising therefrom.

24.      Tenant shall not materially alter the location of file cabinets, office
         furniture, computer equipment, partitions, safes or other heavy
         equipment or furnishings within the Premises, from Tenant's approved
         plans, without first obtaining Landlord's written approval.

                                       32
<PAGE>   36

                                    EXHIBIT E

                                OPTION TO EXPAND

         1. NOTICE AND EXERCISE. Provided no default by Tenant shall have
occurred and be continuing under this Lease and subject to Sections 4.9.7 and
8.21 and the terms hereinafter set forth, Tenant shall have the option, upon
written notice (the "Expansion Notice") given to Landlord no later than
forty-eight (48) months before the Stated Expiration Date, to expand the
Premises by one additional full floor (or between forty thousand and forty-nine
thousand square feet of Rentable Area), as selected by Tenant within the
Expansion Envelope (the "Expansion Space"). The "Expansion Envelope" shall be
defined as Floors 2 (subject to Sections 8 and 9 of this Exhibit E), 4 and 6 of
Transamerica Square or, if Landlord has relocated, or notified Tenant that it
will relocate, Tenant to Comparable Space, then the Expansion Envelope shall be
space within the new building which has been pre-selected pursuant to Section
8.21. Landlord shall deliver the Expansion Space to Tenant as soon as reasonably
possible after Landlord's receipt of Tenant's notice of exercise of Tenant's
option, but not later than twelve (12) months after Landlord's receipt of the
Expansion Notice. If Tenant's Expansion Notice so requests, and Landlord has the
ability to deliver without incurring substantial additional expense, then
Landlord shall deliver the Expansion Space to Tenant within six (6) months
following receipt of the Expansion Notice, or as soon thereafter as reasonably
possible. The Base Rent for the Expansion Space shall be the fair market value
rental rate for Comparable Space leased by non-renewal, nonequity tenants with
creditworthiness similar to Tenant's (the "Market Rate") taking into
consideration factors such as lease commissions, construction allowances, lease
term, square footage, and creditworthiness of Tenant. Tenant's occupancy of the
Expansion Premises shall be subject to all other terms and conditions of this
Lease and shall, in addition, be subject to Tenant's obligation to pay Tenant's
proportionate share of operating expenses of the Building.

         2. ARBITRATION OF BASE RENT. If the parties are unable to agree as to
the Market Rate for determination of the Base Rent for the Expansion Space
within thirty (30) days after receipt by Landlord of the Expansion Notice, the
dispute shall be referred to a panel of arbitrators to be conducted in
accordance with the rules and procedures of the American Arbitration
Association, but only to the extent such rules and procedures are not
inconsistent with or different from the procedures set forth in this Section 2
of Exhibit E. Within forty-five (45) days after receipt by Landlord of the
Expansion Notice, Landlord and Tenant shall each select and notify the other of
the identity of an MAI-designated appraiser with at least five (5) years
experience in first-class office building appraisals as arbitrator, and, within
sixty (60) days after receipt by Landlord of the Expansion Notice, the two (2)
arbitrators so selected shall then select and notify Landlord and Tenant of the
identity of a third (3rd) MAI appraiser with similar experience to serve on such
panel. The determination of the arbitrators shall be limited solely to the issue
of the amount which most accurately reflects the Market Rate (the actual fair
market value rental rate for Comparable Space) over the remaining Term of the
Lease (up to the Stated Expiration Date). Within fifteen (15) days after
selection of the last arbitrator, Landlord and Tenant shall each deliver to the
arbitrators their final written opinions of the Market Rate. After receipt by
the three (3) arbitrators of the statements from Landlord and Tenant specifying
their final respective opinions of the Market Rate, the three (3) arbitrators
shall make a determination of the Market Rate by majority vote. In making their
determination, the three (3) arbitrators should consider, but not be limited to,
allowances, concessions or any other similar inducements offered by landlords to
tenants negotiating leases of Comparable Space. The three (3) arbitrators shall
make their determination within thirty (30) days after receipt of Landlord's and
Tenant's respective opinions of the Market Rate. The decision of the majority of
the three (3) arbitrators shall be binding upon Landlord and Tenant and shall be
the Market Rate for purposes of calculating the gross rental rate for the
Expansion Space.

         3. CHANGES EFFECTED BY EXERCISE. If Tenant elects to expand the
Premises as provided in this Exhibit E, the following shall apply as of the date
of delivery by Landlord of the Expansion Space to Tenant for construction of
Tenant's improvements in the Expansion Space: (1) Exhibit A attached to the
Lease and the definition of the Premises shall be modified to include the
Expansion Space (or, at Landlord's option, a separate but substantially similar
Lease shall be prepared to incorporate the Expansion Space); (ii) the Rentable
Area of the Premises shall be increased to include the Expansion Space; (iii)
Base Rent shall be increased by an amount which is equal to the Rentable Area of
the Expansion Space multiplied by the per square foot Market Rate as determined
in accordance with Section 2 above; (vi) commencing on the date of delivery of
the Expansion Space, Tenant shall pay Tenant's proportionate share of Building
operating expenses for the Expansion Space in accordance with the provisions of
Sections 6 and 7 below; and (v) the Term of this Lease for the Expansion Space
added to the Premises shall end on the same date as the Term ends for the
Premises (including any extended term or the term of the New Lease pursuant to
Section 8.25 of the Lease).

                                       33
<PAGE>   37

         Tenant shall pay annual Base Rent for the Expansion Space, as
determined in accordance with Section 2 above, to Landlord in twelve (12) equal
monthly installments on the first day of each calendar month during the Term,
commencing on the date of delivery as set forth above. Except as otherwise set
forth in this Lease, Base Rent for the Expansion Space shall be paid monthly in
advance without demand, reduction, abatement, counterclaim or setoff at
Landlord's designated address. If the delivery date of the Exansion Space occurs
on a day other than the first day of a month or terminates on a day other than
the last day of a month, then the Base Rent for such month or months shall be
prorated in accordance with the actual number of days in the relevant month and
the installment or installments so prorated shall be paid in advance.

         4. CONTINUING APPLICATION OF LEASE. Except as set forth above, all
terms and conditions of this Lease shall apply to the Expansion Space.

         5. EFFECT OF ASSIGNMENT OR SUBLETTING. Upon the assignment or
subletting of all of the Premises by Tenant to any party other than a Tenant
Affiliate, and whether or not such assignment is approved or permitted by
Landlord, the rights granted by this Exhibit E shall automatically terminate and
shall be of no further force or effect.

         6. DEFINITIONS. Any term not defined herein shall have the meaning
given it in the body of this Lease.

                  Actual Expenses. With respect to each Calendar Year during the
         Term, the actual Expenses for such year.

                  Actual Expense Rate. The Actual Expenses for each Calendar
         Year during the Term divided by the Rentable Area in the Building.

                  Additional Rent. As set forth in Section 7 hereof. For any
         partial Calendar Year after the first Lease Year or in which this Lease
         is in force and effect, actual Additional Rent shall be determined and
         Tenant shall pay its proportionate share thereof.

                  Base Expense Rate. The Actual Expenses, for the Calendar Year
         in which the Expansion Space is delivered to Tenant, determined on a
         modified cash basis in accordance with generally accepted accounting
         principles in order to account for Expenses as required in subparagraph
         m. of the definition of Expenses set forth below, during such Calendar
         Year divided by the Rentable Area in the Building.

                  Exclusions. As defined in the definition of Expenses.

                  Expenses. Except as otherwise limited by the terms of this
         Lease, all costs and expenses directly and reasonably incurred by
         Landlord (the nature, character and extent of which are customarily
         incurred by landlords of Comparable Space) in the operation and
         maintenance of the Building. Such costs include, without limitation,
         the following items:

                  a. All ad valorem or real property taxes and assessments,
         general or special, which are levied, assessed or imposed by any
         Governmental Authority upon any legal or equitable interest of Landlord
         in this Lease, Landlord as the landlord of the Building, the Building,
         or the underlying real estate (whether or not owned by Landlord), or
         any improvements, fixtures, equipment or other property of Landlord,
         real or personal, located in or on the Building and used in the
         operation or maintenance of the Building. Taxes shall also include any
         levy, assessment or imposition in addition to or in lieu of such real
         or personal property taxes; license fees; sales taxes imposed on
         supplies purchased for the operation of the Building; business
         privilege taxes; and ad valorem taxes measured by or imposed upon
         rents, but shall not include: (i) any federal, state or local income
         taxes, (ii) franchise, estate, or inheritance taxes, and (iii) real
         estate transfer taxes imposed by reason of the sale of the Building
         Complex or any portion thereof or any interest therein. Tenant shall
         only be responsible for its share of taxes accruing during the Term of
         this Lease, including any extensions thereof, notwithstanding the date
         of payment or collection. Any "tax year" shall mean a Calendar Year,
         notwithstanding the use of any different period for assessment or
         collection. Notwithstanding the foregoing definition, Expenses for
         taxes shall not include any penalties or interest for Landlord's
         failure to comply with the obligation for the payment thereof;

                  b. The cost (without markup or profit to Landlord) of
         electricity (up to three and one-half (3 1/2) watts per square foot of
         Rentable Area in the Building), gas, water, sewer, power, heating,
         lighting, air conditioning, ventilating and all similar services, which
         are or will be consumed by the Building, but excluding special
         requirements of tenants above those

                                       34
<PAGE>   38

         general requirements set forth in Section 3.2 and Exhibit F, whether or
         not Landlord is being or has the right to be separately reimbursed
         therefor. Any use of electricity by any tenant (including Tenant) in
         excess of three and one-half (3 1/2) watts per square foot of Rentable
         Area and, except as otherwise provided in this Lease, any use of HVAC
         by any tenant in the Building outside Normal Business Hours shall be
         considered as special requirements of tenants which are excluded from
         Expenses;

                  c. All wages, salaries, benefits, fees and other costs,
         including, without limitation, uniforms, payroll and social security
         taxes, and insurance directly borne by Landlord (or on its behalf) for
         all of its employees engaged in the management, operation, repair,
         replacement (other than capital replacement), maintenance and
         supervision of the Building;

                  d. All supplies, materials, noncapital tools and equipment
         used in the management, operation, repair, replacement (other than
         capital replacement), cleaning, painting, maintenance and supervision
         of the Building;

                  e. All commercially reasonable maintenance and service
         agreements on equipment in the Building, including, without limitation,
         alarm service and elevator maintenance;

                  f. To the extent required of Landlord under Article V hereof,
         all premiums for hazard insurance (including, without limitation,
         premiums for fire and extended coverage and other casualty insurance),
         public liability insurance for the Building and such insurance
         identified in Article V of the Lease which Landlord actually obtains,
         or in the event of self-insurance, would otherwise be in force. In the
         event Landlord decides to self-insure, the amount which would have been
         paid as premiums by Landlord but for the self-insurance;

                  g. All repairs, noncapital replacements and general
         maintenance of the Building;

                  h. All commercially reasonable service or maintenance
         contracts with independent contractors for the operation, repair,
         maintenance, servicing or supervision of the Building not included
         under subparagraph e. of this definition of Expenses;

                  i. All janitorial services for the Building other than those
         of any retail tenant in the Building; provided, however, special
         janitorial services for other tenants above the Building's standard
         janitorial services as set forth in Exhibit C shall not be included
         herein;

                  j. The proportionate, amortized cost of any capital
         improvements to the Building or the Common Areas (which are classified
         as capital expenditures under generally accepted accounting principles
         consistently applied) which (i) are made for the purpose of reducing
         operating expenses, or (ii) are mandated by Governmental Authority
         under any law or regulation relating to life safety systems that was
         not applicable to the Building as of the Commencement Date; provided,
         however, if any portion of the cost of capital improvements for life
         safety systems results from the inadequacy of life safety systems
         required by any Governmental Authority under any law or regulation that
         was in effect as of the date of Certificate of Occupancy for the
         Building, such portion of the capital expenditure shall not be included
         in Expenses; and provided further, that the requirement to comply with
         any such law or regulation is not necessitated by any request or
         application for any permit, license, approval, variance or
         authorization from any such Governmental Authority; and provided
         further, Expenses shall not include the costs of compliance with The
         Americans With Disabilities Act Of 1990 (the "ADA"), and any rules and
         regulations promulgated thereto and currently in effect to the extent
         such act and rules and regulations affect the Building and the Common
         Areas but excluding any improvements within the Premises designed or
         constructed by Tenant, its agents or contractors. This cost shall be
         amortized over the useful or economic life of the capital improvements
         as determined in accordance with generally accepted accounting
         principles consistently applied, together with interest on the
         unamortized balance at the actual rate incurred by Landlord which shall
         not, however, exceed the Contract Rate at the time the expense is
         incurred;

                  k. All reasonable management fees;

                  l. All reasonable legal, accounting and other professional
         fees, professional trade association memberships dues for the Building
         personnel, including managers and organizers; costs and other expenses
         for the Building incurred by Landlord in the ordinary course of the
         management, operation, maintenance and promotion of an office building
         containing Comparable Space;

                                       35
<PAGE>   39

                  m. For purposes only of determining Expenses in the Base
         Expense Rate, all additional expenses (the "Variable Operating Costs")
         which Landlord reasonably determines Landlord would have incurred had
         the Building been ninety-five percent (95%) leased and occupied with
         all tenant improvements constructed, and without regard to any
         abatements, curtailments or reductions in any form of rent allowed
         under any lease of any portion of the Building, for purposes of
         determining operating expenses or fees related to Building management;
         provided, however, that (i) Variable Operating Costs shall specifically
         include, but shall not be limited to, Landlord's direct costs in
         supplying gas, electricity, heating, ventilating, air conditioning,
         water, and any other utilities, waste disposal, supervision and
         janitorial services to the Building, all of which vary based upon
         occupancy; (ii) no adjustment under this subparagraph m. shall result
         in profit to Landlord and no cost allocable to construction of any
         portion of the Common Areas and construction of any portion of the
         Building shall be included in determining Variable Operating Costs; and
         (iii) such costs shall specifically include all costs which Landlord
         would have incurred but for the existence of warranties on any portion
         of the Building Complex, including, without limitation, any equipment
         or machinery used therein.

         In addition to any items excluded from Expenses as set forth above, the
following items (collectively, "Exclusions") also shall be excluded from
Expenses: (1) expenses for any capital improvements except as provided elsewhere
herein; (2) expenses incurred in leasing space or procuring new tenants (e.g.,
lease commissions, advertising expenses, marketing studies, advertising and
promotional funds (except as permitted elsewhere herein) and expenses of
preparing, upfitting or renovating space for new tenants); (3) legal or
accounting expenses in negotiating or enforcing the terms of any space lease or
related to the sale of the Building or to any ground lease related to all or any
portion of the Building; (4) interest, amortization payments, late charges, fees
and other charges on any mortgage or other evidence of indebtedness, whether or
not secured by all or any portion of the Building Complex except as provided in
subparagraph j. above; (5) any expenses for which Landlord has been or has the
right to be reimbursed by a specific tenant or a third party on behalf of such
tenant; (6) extraordinary costs arising from the use by others of the Common
Areas for shows, promotions and other public or special events; (7) costs of
utilities not otherwise reimbursable, including, without limitation, costs of
chilled water and HVAC, and costs of electricity in excess of three and one-half
(3 1/2) watts per square foot of Rentable Area in any portion of the Building,
either directly billed, or directly billable, to, or specifically requested by,
any tenant of the Building, and/or any HVAC outside of Normal Business Hours
provided to any tenant of the Building or any other services provided to any
other tenant that exceed services to be furnished by Landlord pursuant to
Section 3.2 or Exhibit F; (8) Landlord's local, state or federal income or gross
receipts taxes or gift, succession, franchise, inheritance or estate taxes; (9)
wages, salaries and benefits of executives or employees above the level of
Senior Building Manager of the Building; (10) costs incurred by Landlord for
repairs or other work caused by fire, windstorm or other casualty for which
Landlord is required to maintain insurance pursuant to this Lease, except costs
incurred by Landlord in restoring the Building in accordance with this Lease
resulting from commercially reasonable deductibles as provided in Article V of
the Lease; (11) the costs of contract services provided by Landlord or its
subsidiaries or affiliates, together with overhead and profit increments paid to
subsidiaries or affiliates of Landlord for services on or to the Building
Complex, to the extent the costs, overhead or profit related to such services to
the Building Complex exceeds the costs of such services rendered on a
competitive basis for Comparable Space by unaffiliated parties of similar skill,
competence and experience who are capable of providing such services; (12) any
rental or other payments due under any ground or underlying lease or leases;
(13) any syndication, financing or refinancing costs and expenses (including
interest on debt or amortization payments on debt) incurred in connection with
any mortgage or mortgages or any other debt instrument encumbering all or any
portion of the Building Complex; (14) depreciation and amortization, except as
otherwise expressly provided in subparagraph j. of this definition of Expenses;
(15) rentals and other related operating expenses, if any, incurred in leasing
air conditioning systems, elevators or other equipment ordinarily considered to
be of a capital nature, except: (a) to the extent capital costs are permitted to
be included in Expenses pursuant to subparagraph j. of the definition of
Expenses, and (b) temporary rentals and related expenses for a reasonable period
to keep permanent systems in operation while Landlord procures necessary
repairs; (16) costs of initially constructing the base Building work and the
Common Areas of the Building Complex; (17) costs of correcting any defects in
(a) the base Building work, (b) any tenant improvements, (c) Common Areas and
(d) other improvements installed by Landlord, Tenant's contractor or Landlord's
contractor; (18) except for necessary repair and maintenance expenses of the
Common Areas that are expressly included as Expenses herein, costs incurred in
renovating or otherwise altering, improving, decorating or redecorating space in
the Common Areas, or incurred in renovating or otherwise altering, improving,
decorating or redecorating vacant rentable space; (19) any bad debts loss, rent
loss or reserves for bad debts or rent loss; (20) costs associated with the
operation of the business of the legal entity which constitutes Landlord or of
persons or entities which constitute or are affiliated with Landlord or its
partners, as such costs are separate and apart from costs associated with the
operation of the Building, including legal entity formation, internal entity

                                       36
<PAGE>   40

accounting and internal legal matters; (21) attorneys' fees and other costs and
expenses incurred in connection with negotiations or disputes with present or
prospective tenants or other occupants of the Building Complex or incurred by
negotiating or enforcing any lease at the Building Complex or attorneys' fees
awarded to any tenant pursuant to any lease, or incurred as a result of
Landlord's failure to maintain any insurance required of Landlord under this
Lease or any other lease; (22) costs of repair, abatement, removal or clean-up
of any Hazardous Materials under laws currently in effect; (23) expenses for
which Landlord has received a credit, refund or rebate from any party; and (24)
unless such management results in cost savings to Tenant, management fees and
all other costs associated with any building within the Building Complex other
than the Building.

         In addition to the Exclusions set forth above, Expenses shall be
reduced by the amount of any insurance reimbursement and other reimbursement,
recoupment, payment, discount, credit, reduction, allowance or the like not
enumerated above but received by Landlord in connection with such Expenses that
are allocable to any Expenses payable in whole or in part by Tenant.

         The following matters shall be taken into account when determining
Expenses: (1) The Parking Garage will be economically and operationally
independent from the remainder of the Building Complex, although there will be
cross-easements for construction, for operation and repair of utilities, for
access and for other purposes between each part of the Building Complex and the
Parking Garage; (2) any Expenses associated with usage of the Parking Garage or
the Common Areas by any third party, including but not limited to the owners,
managers, employees, tenants, contractors, agents, or visitors of or to any
Third Party Development, will be borne by such third party; (3) any Expenses
associated with the joint use of the Common Areas or the Parking Garage by the
owners, managers, employees, tenants, contractors, agents or visitors of or to
the Building Complex, on the one hand, and the owners, managers, employees,
tenants, contractors, agents or visitors of or to any Third Party Development,
on the other hand, will be shared ratably between the Building Complex and such
Third Party Development (the portion of such Expenses attributable to the
Building Complex being considered to be "Expenses" for all purposes hereunder,
including, without limitation, allocation thereof to the tenants of the Building
Complex); (4) the Building, Parking Garage and, to the extent applicable,
various Third Party Developments, may or will share the Building's central
plant, but each such area will be separately metered or submetered and the
tenant in each such area shall be solely responsible for its pro rata costs of
utilities (including chilled water) which it uses; (5) third parties, including,
without limitation, Third Party Developments, will be charged for any usage of
the Building Complex which creates incremental costs attributable to such usage
by such third parties. Each of the Third Party Developments otherwise is created
as a separate entity which, except for the obligation to pay costs as set forth
in the preceding sentence, has no obligation to share any costs related to the
Expenses of the Building and, conversely, no tenant of the Building shall have
any obligation to pay any expenses of any Third Party Development except as
otherwise provided herein; (6) the outdoor plazas will be operated as integral
portions of the Building; (7) retail tenants in the Building shall be
responsible for the costs of cleaning and maintaining their space and other
costs directly related to or arising out of use of the retail areas of the
Building after Normal Business Hours or attributable to services in excess of
those provided to office tenants (except as otherwise provided herein) or
attributable to any janitorial or related services associated with the sale or
consumption of food or other food handling activities in the Building during
Normal Business Hours; and (8) total Expenses will be reduced by payments
towards Expenses (as set forth in item (5) above) that are or should be received
from other tenants or from any Third Party Development.

         Additional Rent and Expenses shall be determined on a modified cash
basis consistently applied. "Modified cash basis" shall mean including all cash
basis accounting transactions for the year as they relate to Expenses and
modifying those balances to include twelve (12) months of activity. Modified
cash basis accounting differs from accrual basis accounting in that it attempts
to account for one (1) year's activity as opposed to analyzing exact work dates
and invoice dates to determine inclusion in a given year.

                  Projected Expense Rate. As defined in Section 7 hereof.

                  Third Party Development. Any office, retail or condominium
         development (other than the Building, the Plaza, and the Parking
         Garage) which may be located from time to time on the Block and which
         is not owned by Landlord.

                  Variable Operating Costs. As defined in subparagraph m. of the
         definition of Expenses.

         7. Additional Rent. Additional Rent shall be due during any Calendar
Year, beginning with the Calendar Year immediately following delivery of the
Expansion Space to Tenant, during which the Actual Expense Rate is greater than
the Base Expense Rate. Prior to January 1 of each Calendar Year (or as soon
thereafter as reasonably possible), Landlord shall provide to Tenant a

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<PAGE>   41

statement of Landlord's reasonable estimate of the Expense Rate (calculated by
dividing Landlord's reasonable estimate of Expenses for the ensuing Calendar
Year by the Rentable Area in the Building) projected by Landlord for the ensuing
Calendar Year (the "Projected Expense Rate"). Beginning with the first month of
the Calendar Year immediately following delivery of the Expansion Space by
Landlord to Tenant, Tenant shall pay to Landlord on the first day of each month
one-twelfth (1/12th) of the product of (a) the positive difference (if any)
obtained by subtracting the Base Expense Rate from the Projected Expense Rate
for such Calendar Year, and (b) the Rentable Area in the Premises. Until Tenant
has received the statement of the Projected Expense Rate from Landlord, Tenant
shall pay or continue to pay Additional Rent to Landlord in the same amount (if
any) as required for the last month of the prior Calendar Year. After Tenant
receives the statement, on the next date when Base Rent is due, Tenant shall pay
to Landlord, or Landlord shall credit to Tenant (whichever is appropriate), the
difference between the amount paid by Tenant and the amount payable by Tenant as
set forth in such statement. Not more than twice during any Calendar Year,
Landlord may in good faith revise the Projected Expense Rate and provide Tenant
with a revised statement, and thereafter Tenant shall pay Additional Rent on the
basis of the revised statement. Landlord shall provide to Tenant, within one
hundred fifty (150) days after the end of each Calendar Year, a statement of the
Actual Expenses, the Actual Expense Rate and the Additional Rent for such year.
Tenant shall pay to Landlord, within thirty (30) days after Tenant's receipt of
such statement, the uncollected Additional Rent for such Calendar Year. If the
actual Additional Rent payable by Tenant for any Calendar Year is less than the
aggregate of the actual Additional Rent collected by Landlord for such Calendar
Year, Landlord shall promptly refund the amount of such excess (or, at
Landlord's option, apply such excess against the next ensuing payments of Rent
due or to become due hereunder). Failure of Landlord to provide the statement
called for hereunder shall not relieve Tenant from its obligations under this
Section 7 or elsewhere in this Lease.

         8. Shared Space. Tenant acknowledges that a portion of the second (2nd)
floor of Transamerica Square, consisting of approximately 1,253 square feet of
Rentable Area, is currently occupied by Landlord's contract vendor, Lincoln
Harris. In the event Tenant elects to expand into the second (2nd) floor of
Transamerica Square, Tenant agrees that Landlord shall not be required to
relocate Lincoln Harris (or such other contract vendor which Landlord may
contract to manage the Building in place of Lincoln Harris) from the second
(2nd) floor and there shall be no cost to Landlord or its contract vendor for
the use of such space on the second (2nd) floor; provided, however, that
Landlord shall cause Lincoln Harris (or such replacement contract vendor) to
procure its own commercial general liability insurance and personal property
insurance applicable to such space. Provided, further, that the square feet of
Rentable Area occupied by Lincoln Harris (or any replacement contract vendor)
shall not be included in the Rentable Area of Tenant's Premises for purposes of
calculating Rent or otherwise.

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<PAGE>   42

         9. Computer Room. Tenant acknowledges that Landlord's computer room is
located on the second (2nd) floor of Transamerica Square. In the event Tenant
elects to expand into the second (2nd) floor of Transamerica Square, Tenant
agrees that Landlord's computer room shall remain and Landlord shall have full
access thereto. Landlord shall not be required to share the computer room with
Tenant and Tenant shall be solely responsible for constructing its own computer
room on the second (2nd) floor of the Building, if necessary. Landlord agrees
that so long as Landlord has exclusive use of the computer room on the second
(2nd) floor, the Rentable Area thereof shall not be included in the Rentable
Area of Tenant's Premises for purposes of calculating Rent or otherwise.

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<PAGE>   43

                                    EXHIBIT F

                       SERVICES TO BE PROVIDED BY LANDLORD

         1. UTILITIES. Hot and cold water to the restrooms on each floor in the
Premises; cold water (with cold water risers provided by Landlord to the
designated portions of the core of each floor of the Premises) twenty-four (24)
hours a day, seven (7) days a week; and central heat, ventilation and air
conditioning ("HVAC") in season from seven (7) o'clock a.m. to seven (7) o'clock
p.m. Monday through Friday and eight (8) o'clock a.m. to two (2) o'clock p.m. on
Saturday ("Normal Business Hours"). During Normal Business Hours, Landlord shall
provide to the Premises, the cost (without Landlord's profit or mark-up) of
which shall be included in Expenses, central HVAC in season at such temperatures
and in such amounts as are reasonably considered by Landlord to be standard for
Comparable Space or as may be permitted, controlled or regulated by applicable
laws, ordinances, rules and regulations; provided that Landlord agrees to cause
the HVAC system which services the Premises to be designed, installed and
maintained in a manner which shall maximize its efficiency and shall, during
Normal Business Hours, maintain the temperature of the Premises within the
following range of temperatures, subject to unusual heat loads caused by
Tenant's extraordinary use of the Premises or alteration of the Premises made
contrary to the provisions of this Lease:

         Summer:           93 De. F. DB-74 De. F.W.B  - OUTSIDE
                           75 De. F. DB-50% RH        - INSIDE

         Winter:           22 De. F. DB               - OUTSIDE
                           72 De. F. DB-50% RH.       - INSIDE

Shell HVAC internal heat loads shall be based upon two (2) watts per rentable
square foot (RSF) for lighting, two (2) watts per square foot for power and one
(1) person per one hundred and fifty (150) RSF.

Landlord shall make HVAC available to the Premises outside of Normal Business
Hours in accordance with Section 2.5 and all other applicable provisions of this
Lease. Service during weekdays and weekends at other than Normal Business Hours
for the Building and on Saturday afternoons, Sundays and Holidays shall be
furnished only upon request of Tenant, who shall bear the entire actual costs to
Landlord to provide same to the Premises. Tenant may request such HVAC service
for one or more floors constituting the Premises. At Tenant's cost, Tenant may
tap condenser water supply lines for supplemental HVAC services to Tenant's word
processing and computer room units.

         2. JANITORIAL SERVICES. Janitorial service (as set forth in Exhibit C)
on the evening before each weekday except for Holidays. Such service shall equal
or exceed the janitorial services provided to tenants in Comparable Space. If
Tenant requests special or additional attention other than routine janitorial
service (which shall include periodic carpet cleaning and waxing of floors, as
appropriate, among such routine services), Tenant shall pay the extra cleaning
cost as additional Rent.

         3. ELECTRICAL FACILITIES. Electrical facilities to provide electrical
capacity up to seven (7) watts for each square foot of Rentable Area in the
Premises (five (5) at 208/120 volts single phase and two (2) watts at 277
volts), determined on a connected load in accordance with the National Electric
Code 1993 ("Standard Building Capacity"). For the purposes of computing Tenant's
access to electrical capacity, Tenant shall continuously have the right to
demand, and simultaneously use, twenty-four (24) hours per day, every day of the
year, electrical facilities which provide electrical power of seven (7) watts
per of square foot of Rentable Area, all costs of providing electrical capacity
to the Premises in excess of seven (7) watts per square foot of Rentable Area to
be borne by Tenant. Tenant's use of electricity shall not, without Landlord's
prior written consent, exceed in times and duration of consumption an overall
load of seven (7) watts per square foot of Rentable Area in the Premises.
Tenant's usage initially will be determined by a survey by Landlord of Tenant's
final construction documents. Tenant shall notify Landlord in writing of any
equipment in the Premises that has a rated electrical load greater than 500
watts and/or that requires a service voltage other than 120 volts, and
Landlord's written approval (which shall not be unreasonably or arbitrarily
withheld, conditioned or delayed) shall be required with respect to the
installation of any such high electrical consumption equipment in the Premises.
To the extent Tenant adds equipment that is not in the Premises as of the date
the Initial Moves are completed, or elects to operate more than one shift of
employees, and Landlord reasonably believes such additions may cause Tenant to
consume electricity in excess of Standard Building Capacity, Landlord shall
notify Tenant of such belief and Tenant shall, at Tenant's cost, install
submeters in the Premises to measure such additional consumption. If Tenant
disagrees with Landlord, and elects not to install the submeters, Landlord may
install same at Landlord's cost. If such submeters show that Tenant's
consumption of electricity in the Premises is in excess of a connected load of
seven (7) watts per square foot of Rentable Area in the Premises, then Tenant
shall pay to Landlord within thirty (30) days of Landlord's demand the

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<PAGE>   44

actual cost (without Landlord's profit or markup) charged by the utility company
for such excess consumption of electricity and Tenant shall reimburse Landlord
for the cost of installing submeters. In no event shall the cost of electrical
consumption by any other tenant which exceeds a connected load of seven (7)
watts per square foot of Rentable Area be included in the computation of
Expenses, Actual or Base Expense Rates or Additional Rent for Tenant. If the
installation of any electrical equipment in Tenant's Premises requires air
conditioning capacity above seven (7) watts per square foot of Rentable Area in
the Premises, then the additional air conditioning installation and operating
costs will be the obligation of Tenant at such time as Tenant actually requires
more than such capacity. Tenant shall install and pay for all costs of meters
and submeters to measure or accommodate Tenant's use of electricity or Tenant's
design loads and capacities that exceed seven (7) watts per square foot of
Rentable Area in the Premises. Landlord shall provide and pay for all costs of
wiring, risers, transformer and electrical panels to accommodate Tenant's
connected loads and capacities up to seven (7) watts per square foot of Rentable
Area in the Premises, including, without limitation, the installation and
maintenance thereof. Notwithstanding the foregoing, Landlord may refuse to
install and withhold consent for Tenant's installation of any wiring, risers,
transformers, electrical panels, or air conditioning in connection with
providing electricity in excess of seven (7) watts per square foot of Rentable
Area in the Premises if, in Landlord's sole judgment, the same are not necessary
or would cause damage or injury to the Building or the Premises or cause or
create a dangerous or hazardous condition or entail excessive or unreasonable
alterations or repairs to the Building or the Premises, or would materially
interfere with or create or constitute a disturbance to other tenants or
occupants of the Building. In no event shall Landlord incur any liability for
Landlord's refusal to install any such electrical facility or equipment in
excess of electrical facilities or equipment to provide seven (7) watts per
square foot of Rentable Area in the Premises.

         4. ELECTRICAL SUPPLIES. All lamps, bulbs, starters and ballasts for all
light fixtures in Common Areas and initial lamps, bulbs, starters and ballasts
for Building standard light fixtures in the Premises and replacement bulbs for
Building standard fixtures or Tenant's light fixtures in the Premises that can
accommodate Building standard bulbs (including, without limitation, those
Building standard 2' x 4' fluorescent light fixtures which are supplied by
Tenant in addition to those supplied by Landlord).

         5. SUPERVISION. Appropriate levels of supervision for the Building and
the Parking Garage during Normal Business Hours, the weekends and outside Normal
Business Hours during the week. Tenant, its employees, visitors and guests shall
have access to the Building and the Parking Garage at all times, subject to the
supervision specifications and the Rules and Regulations attached hereto as
Exhibit D as the same may be amended from time to time with Tenant's consent,
which consent shall not be unreasonably or arbitrarily withheld, conditioned or
delayed. Access to the Building outside Normal Business Hours shall be regulated
in such form as Landlord deems appropriate; provided, however, that Tenant, its
employees, invitees and guests shall have access to the Premises twenty-four
(24) hours a day, seven (7) days a week. Provided Landlord has secured and
maintained appropriate insurance as required by the next sentence, and to the
extent Tenant is covered hereunder, Landlord shall not be liable for losses due
to theft or burglary, damages done by unauthorized persons, or injuries to
persons or damages to property as a result of any failure to supply supervision
services. Landlord shall be required to insure against such damages, losses or
injuries only to the extent the same are directly attributable to Landlord, its
agents or employees. Tenant shall cooperate fully in Landlord's efforts to
maintain supervision in the Building or the Parking Garage and shall follow all
Rules and Regulations set forth in Exhibit D.

         6. COMMON AREA MAINTENANCE. Routine maintenance, painting and electric
lighting service for all Common Areas in the manner and to the extent necessary
to be consistent with the operation of Comparable Space.

         7. ELEVATOR SERVICE. Elevator service during Normal Business Hours
(except during periods of routine service and repairs if such service and
repairs cannot be scheduled outside Normal Business Hours, power failures, and
emergencies) and reduced elevator service at all time other than Normal Business
Hours will be provided to the Premises.

         8. COMMUNICATIONS. Landlord shall, at its expense, install telephone
cables and, if available, television cable service in the central core of the
Building providing service to each floor of the Building. Tenant shall be solely
responsible for arranging and paying for telephone and television cable services
to the Premises.

         9. MAIL ROOM SERVICES. Mail room services during Normal Business Hours
by accommodation of the United States Postal Services at a designated area in
the loading dock level of the Building.

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<PAGE>   45

         10. INTERRUPTION OF SERVICES. Landlord reserves the right to interrupt
any services when, in Landlord's reasonable judgment, such interruption is
necessary by reason of accident or emergency or for repairs, alterations,
replacements or improvements. Except in the case of an emergency, Landlord will
notify Tenant in advance, if possible, of any interruption and its estimated
duration. Landlord will undertake repairs with reasonable diligence to restore
such service as promptly as reasonably possible and will conduct ordinary
repairs in a manner and at times, including outside Normal Business Hours, so as
not unduly to interfere with or impair Tenant's use and enjoyment of the
Premises.

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<PAGE>   46

                                    EXHIBIT G

                       TENANT'S PARKING RIGHTS AND CHARGES

         A. GENERAL PARKING. Landlord and Tenant acknowledge that because
Tenant's employees are using certain of the parking spaces in the Parking Garage
as of the Commencement Date of the Initial Premises in their current roles as
employees of Landlord, no reallocation of parking spaces shall occur merely as a
result of the commencement of this Lease. However, it is the intent of Landlord
and Tenant that parking spaces in the Building's Parking Garage that are not
allocated to visitor spaces, residential or church uses or committed, as of the
Commencement Date, to existing third party tenants (including any parking spaces
which may be committed pursuant to existing but currently unexercised expansion
or renewal rights under existing leases) shall be made available, on a
proportionate basis, to employees of Landlord and Tenant in accordance with each
party's relative amount of rentable square feet in the Building. Therefore, as
additional parking spaces become available for lease, they shall be allocated to
the employees of Landlord and Tenant in such a manner as to bring the parking
space count of each party to the desired proportionate share level. Once
sufficient parking spaces have been reallocated to cause Landlord and Tenant
each to reach their proportionate share of parking spaces within the Parking
Garage, any new spaces that become available (i.e., not committed to other
building occupants) will be allotted on a first come, first served basis to the
employees of Landlord and Tenant. Provided, however, that if Tenant's employees
do not apply for sufficient parking spaces to reach Tenant's proportionate
share, Landlord does not guarantee the continued availability of any unused or
unrequested spaces. The charge for the spaces in the Parking Garage to be made
available to Tenant, its officers, managers, agents and employees shall be set
in accordance with the market rate for comparable parking garages, subject to
change from time to time, unless discounted rates are offered to employees of
Landlord, in which case the same discounted rates shall be offered to Tenant's
employees, but only for so long as the Master Services Agreement is in effect.
Tenant's employees must also take a proportionate share of the tandem and
discounted parking spaces in the Parking Garage.

         Tenant's employees shall work directly with Landlord's parking manager
to obtain and pay for parking spaces used by Tenant's employees. Tenant's
employees shall be charged the same parking rates as those rates charged to
Landlord's employees. Tenant shall not bear any obligation for such spaces,
although as an accommodation of convenience Tenant may pay the monthly fee for
its officers, managers, agents and employees who contract for such Parking
Garage spaces. Landlord is not required to mark, designate or reserve any
specific parking spaces or areas in the Parking Garage for Tenant's exclusive
use. Tenant, and its authorized users, visitors and guests, shall have access to
the Parking Garage twenty-four (24) hours per day, seven (7) days per week,
three hundred sixty-five (365) days per year.

         B. ALTERNATE PARKING. If, during temporary periods of construction or
repair after the Commencement Date, Landlord is unable to provide sufficient
parking spaces in the Parking Garage, Landlord shall use diligent efforts to
locate suitable alternative parking facilities at Tenant's cost within twenty
(20) days after use of the Parking Garage has been interrupted. Any obligation
of Tenant to pay for the unavailable parking spaces in the Parking Garage shall
cease for so long as Tenant and its employees do not have the use of such
parking spaces.

         C. RISK. All motor vehicles (including all contents thereof) shall be
parked in the spaces at the sole risk of Tenant, its employees, agents,
customers, invitees and licensees, it being expressly agreed and understood that
Landlord has no duty to insure any of said motor vehicles (including the
contents thereof) and that Landlord is not responsible for the protection and
security of such vehicles. Landlord shall have no liability whatsoever for any
property damage and/or personal injury which might occur as a result of or in
connection with the parking and use of said motor vehicles in any of the spaces,
and Tenant hereby agrees to indemnify and hold Landlord harmless from and
against any and all costs, claims, expenses, and/or causes of action which
Landlord may incur in connection with or arising out of Tenant's misuse of the
spaces pursuant to this Lease. Tenant agrees that its policies of commercial
general liability insurance shall have endorsements or riders covering Tenant's
use of the Parking Garage.

         D. NO BAILMENT. It is further agreed that this Exhibit G shall not be
deemed to create a bailment between the parties hereto, it being expressly
agreed and understood that the only relationship created between Landlord and
Tenant hereby is that of licensor and licensee, respectively.

         E. RULES AND REGULATIONS. In its use of the spaces, Tenant shall follow
all of the Rules and Regulations of the Building (attached to the Lease as
Exhibit D) and the Parking Garage applicable thereto, and any additional or
further rules and regulations promulgated by Landlord, as applicable, as the
same may be amended from time to time. Upon the occurrence of any breach of such
rules,

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<PAGE>   47

failure to make parking rental payments or reimburse expenses as required hereby
or default by Tenant under the Lease, Landlord shall be entitled to terminate
Tenant's rights pursuant to this Exhibit G, in which event Tenant's right to
utilize the spaces shall thereupon automatically cease.

         F. LANDLORD RESERVATIONS. Landlord reserves the absolute right from
time to time to make changes, additions and eliminations in and to the parking
areas, provided same do not permanently and unreasonably interfere with Tenant's
use of the Parking Garage.

         G. ACCESS. Landlord shall be entitled to charge a deposit for each
Parking Garage access key provided to employees of Tenant at Landlord's standard
rates per access key which shall be refunded to Tenant upon the return of each
such access key to Landlord. In the event Tenant, its officers, managers, agents
and employees wrongfully park in any of the Parking Garages reserved spaces,
Landlord shall be entitled and is hereby authorized to have any such vehicle
towed away, at Tenant's sole risk and expense. Landlord reserves the right to
limit access to certain garage areas during hours other than Normal Business
Hours to accommodate special functions or events, and to charge its normal
hourly or daily parking rates.

         H. RELOCATION. In the event Landlord relocates the Premises in
accordance with any of the provisions of this Lease, Tenant's rights to the
spaces within the Parking Garage shall automatically terminate as of the date of
such relocation. Upon relocation of the Premises, Landlord shall make available
to Tenant parking spaces within a reasonable proximity of the relocated
Premises. The charge for the spaces to be made available to Tenant, its
officers, managers, agents and employees shall be the rate (including any
discounted rates offered to employees of Landlord) in existence at the time of
such relocation for the parking garage or lot in which the parking spaces are
located, subject to change from time to time.

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<PAGE>   48

                                    EXHIBIT H

                             MEMORANDUM OF SUBLEASE

THE STATE OF NORTH CAROLINA          Section
                                     Section
COUNTY OF MECKLENBURG                Section

         This Memorandum of Sublease is made as of ___________________________,
2000, between BANK OF AMERICA, NATIONAL ASSOCIATION, a national banking
association, whose mailing address is Corporate Real Estate, 525 N. Tryon
Street, NC1-023-04-03, Charlotte, North Carolina 28255, Attn: Headquarters Real
Estate Asset Manager, as Landlord, and Exult, Inc., a Delaware corporation whose
mailing address is 401 N. Tryon Street, Suite ______, Attn: ______________,
Charlotte, North Carolina 28202, as Tenant.

         1. Landlord, in consideration of the rent reserved and the other terms
and conditions contained in that certain Standard Form Office Lease Agreement
(the "Lease") between the parties, dated November ___, 2000, hereby leases to
Tenant the premises described as the third (3rd) and fifth (5th) floors of the
building commonly known as Transamerica Square, located at 401 North Tryon
Street, Charlotte, North Carolina.

         2. The term of the Lease shall commence on January 15, 2001 and shall
terminate September 28, 2007 unless earlier terminated in accordance with the
provisions of the Lease.

         3. This Memorandum of Sublease is subject to all of the terms and
conditions set forth in the Lease, which agreement is incorporated herein by
reference and made a part hereof, as fully as though copied verbatim herein. In
the event of a conflict between this Memorandum of Sublease and the actual
Lease, the Lease shall prevail.

         IN WITNESS WHEREOF, Landlord and Tenant have caused the within
Memorandum of Sublease to be executed as of the date first above written.

Attest/Witness:                           TENANT:

Name:    ____________________________
                                          EXULT, INC.,
Title:   ____________________________     a Delaware corporation

[CORPORATE SEAL]                          By: __________________________________
                                          Name: ________________________________
                                          Title: _______________________________

Attest/Witness:                           LANDLORD:

Name:    ____________________________
                                          BANK OF AMERICA, NATIONAL ASSOCIATION,
Title:   ____________________________     a national banking association

[CORPORATE SEAL]                          By: __________________________________
                                          Name: ________________________________
                                          Title: _______________________________

                                       45
<PAGE>   49

STATE OF _________________________  )
                                    )
COUNTY OF ______________________    )

         I, a Notary Public of the County and State aforesaid, do certify that
__________________________ personally came before me this day and acknowledged
that (s)he is _________________________ Secretary of Exult, Inc., a Delaware
corporation, and that by authority duly given and as the act of Exult, Inc., the
foregoing instrument was signed in its name by its ___________________________,
sealed with its corporate and attested by __________________ as its ____________
Secretary.

[Notarial Seal]                   ______________________________________________
                                  Notary Public

My commission expires: ________________

STATE OF NORTH CAROLINA             )
                                    )
COUNTY OF MECKLENBURG               )

         I, a Notary Public of the County and State aforesaid, do certify that
__________________________ personally came before me this day and acknowledged
that (s)he is _________________________ Secretary of Bank of America, National
Association, a national banking association, and that by authority duly given
and as the act of Bank of America, National Association, the foregoing
instrument was signed in its name by its Senior Vice President, sealed with the
bank's seal and attested by __________________ as its ____________ Secretary.

[Notarial Seal]                   ______________________________________________
                                  Notary Public

My commission expires: ________________

                                       46
<PAGE>   50

                       EXHIBIT A TO MEMORANDUM OF SUBLEASE

                                LEGAL DESCRIPTION

         All that certain tract or parcel of land lying in the City of
Charlotte, Mecklenburg County, North Carolina and being more particularly
described as follows:

         BEGINNING at an existing iron pipe located at the intersection of the
northwesterly margin of the right-of-way of North Tryon Street and the
southwesterly margin of the right-of-way of West 8th Street; thence from said
point of BEGINNING and continuing with the southwesterly margin of the
right-of-way of West 8th Street, N. 43-03-20 W. 207.41 feet to a point in the
southwesterly margin of the right-of-way of West 8th Street; thence S. 49-23-45
W. 56.95 feet to a point; thence S. 04-24-27 W. 127.30 feet to a point; thence
S. 49-23-45 W. 80.00 feet to a point; thence N. 85-37-05 W. 127.31 feet to a
point; thence S. 49-23-45 W. 66.28 feet to a point located in the northeasterly
margin of the right-of-way of West 7th Street; thence continuing with the
northeasterly margin of the right-of-way of West 7th Street S. 43-12-00 E.
203.42 feet to the point formed by the intersection of the northeasterly margin
of the right-of-way of West 7th Street and the northwesterly margin of the
right-of-way of North Tryon Street; thence continuing with the northwesterly
margin of the right-of-way of North Tryon Street, N. 49-59-45 E. 382.98 feet to
the point and place of BEGINNING, containing 1.453 acres, more or less, all as
shown on that survey dated August 31, 1995 and prepared by R.B. Pharr &
Associates, P.A. and last revised September 19, 1995.

                                       47
<PAGE>   51

                                    EXHIBIT I

                                EXTENSION OF TERM

         1. Renewal Term(s). Provided no default by Tenant shall have occurred
and be continuing under this Lease and subject to Sections 4.9.7 and 8.21 and
the terms hereinafter set forth, Tenant is hereby granted the option to extend
the Term of this Lease, commencing on the Stated Expiration Date in Comparable
Space (a) for consecutive, additional terms of one (1) year each, for so long as
the Master Services Agreement is in effect; provided, however, that Tenant shall
have the right to renew this Lease for a maximum of five (5) consecutive terms
of one (1) year each; or (b) for such term as Landlord and Tenant may mutually
agree upon in order to cause this Lease to run concurrently with the Master
Services Agreement; or (c) if the Master Services Agreement is no longer in
effect, for one (1) additional, consecutive term of up to five (5) years;
provided, however that such renewal term(s) shall be for a maximum of five (5)
years in the aggregate (each successive one year renewal or any term agreed upon
by Landlord and Tenant as aforesaid shall hereinafter be referred to as a
"Renewal Term"). The Premises shall be leased by Landlord to Tenant during the
Renewal Term(s) upon the same terms and conditions as set forth in the Lease,
except as modified by this Exhibit I.

         2. Notice of Exercise. A Renewal Term shall be exercised only by
delivery of written notice (the "Renewal Notice") to Landlord no later than the
earlier to occur of (a) one hundred fifty (150) days prior to the scheduled
expiration date of the initial Term (as extended pursuant to Section 8.25) or
any Renewal Term, as applicable; or (b) thirty (30) days following the date
Tenant has received effective notice of the renewal or non-renewal of the Master
Services Agreement.

         3. Rent. The Base Rent for each Renewal Term exercised by Tenant
hereunder shall be the fair market value rental rate for Comparable Space leased
by non-renewal, non-equity tenants with creditworthiness similar to Tenant's
(the "Market Rate"); provided, however, that it is the intent of the parties
that Market Rate be determined on the basis of a five (5) year term, even though
each Renewal Term exercised may be one (1) year in duration rather than
determining the Market Rate at the beginning of each one (1) year Renewal Term.
At the beginning of such five (5) year period, the Market Rate shall be
determined in accordance with the above and thereafter the Market Rate shall
apply to each successive Renewal Term for a period of five (5) years. Such
Market Rate may provide for escalations for each successive Renewal Term within
the five (5) year period.

         Annual Base Rent during a Renewal Term shall be due and payable by
Tenant to Landlord in twelve (12) equal monthly installments on the first day of
each calendar month during the Renewal Term. Except as otherwise set forth in
the Lease, Base Rent shall be paid monthly in advance without demand, reduction,
abatement, counterclaim or setoff at Landlord's designated address. If the
commencement date of a Renewal Term occurs on a day other than the first day of
a month or terminates on a day other than the last day of a month, then the Base
Rent for such month or months shall be prorated in accordance with the actual
number of days in the relevant month and the installment or installments so
prorated shall be paid in advance. In additional to Base Rent, Tenant shall pay
Additional Rent as set forth in Section 6 below during any Renewal Term
exercised by Tenant hereunder.

         4. Arbitration for Renewal Term. If the parties are unable to agree as
to the Market Rate for determination of the Base Rent for any Renewal Term
within thirty (30) days after receipt by Landlord of the Renewal Notice, the
dispute shall be referred to a panel of arbitrators to be conducted in
accordance with the rules and procedures of The American Arbitration Association
but only to the extent such rules and regulations are not inconsistent with or
different from the procedures set forth in this Section 4 of Exhibit I. Within
forty-five (45) days after receipt by Landlord of the Renewal Notice, Landlord
and Tenant shall each select and notify the other of the identity of a
MAI-designated appraiser with at least five (5) years experience in first-class
office building appraisals as arbitrator, and, within sixty (60) days after
receipt by Landlord of the Renewal Notice, the two (2) arbitrators so selected
shall then select and notify Landlord and Tenant of the identify of a third
(3rd) MAI appraiser with similar experience to serve on such panel. The
determination of the arbitrators shall be limited solely to the issue of the
amount which most accurately reflects the Market Rate (the actual fair market
value rental rate for Comparable Space). Within fifteen (15) days after
selection of the last arbitrator, Landlord and Tenant shall each deliver to the
arbitrators their final written opinions of the Market Rate. After receipt by
the three (3) arbitrators of the statements from Landlord and Tenant specifying
their final respective opinions of the Market Rate, the three (3) arbitrators
shall make a determination of the Market Rate by majority vote. In making their
determination, the three (3) arbitrators should consider, but not be limited to,
allowances, concessions or any other similar inducements offered by landlords to
tenants renewing, or negotiating extensions for leases of Comparable Space in
buildings where said tenants are currently in occupancy (as opposed to

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<PAGE>   52

inducements offered by landlords of Comparable Space to prospective tenants who
are not then in occupancy of space in said building). The three (3) arbitrators
shall make their determination within thirty (30) days after receipt of
Landlord's and Tenant's respective opinions of the Market Rate. The decision of
the majority of the three (3) arbitrators shall be binding upon Landlord and
Tenant and shall be the Market Rate for purposes of calculating the Base Rent
for any Renewal Term. From such Base Rent for any Renewal Term as is established
pursuant to this Section 4 of Exhibit I, the parties shall calculate the Base
Expense Rate for the first Lease Year of such Renewal Term; all other
calculations of Additional Rent due after such year shall be based upon such
newly established Base Expense Rate. Except as otherwise specified in this
Lease, all other obligations of Tenant and concessions of Landlord (other than
Tenant Improvement Allowances specified in this Lease for any Renewal Term)
related to such Renewal Term, shall be based upon market rates in effect at the
commencement of such Renewal Term as agreed by Landlord and Tenant. If such
parties cannot agree as to such market rates for such other obligations or
concessions, the parties shall submit such determinations to the panel of
arbitrators specified in this Section 4 of Exhibit I, which shall determine such
matters in the same manner as is established to determine the Base Rent for each
Renewal Term.

         5. Definitions. For purposes of calculating Additional Rent as set
forth in Section 6 below, the following terms shall have the definitions set
forth in this Section 5.

                  Actual Expenses. With respect to each Calendar Year during a
         Renewal Term, the actual Expenses for such year.

                  Actual Expense Rate. The Actual Expenses for each Calendar
         Year during a Renewal Term divided by the Rentable Area in the
         Building.

                  Additional Rent. As set forth in Section 6 hereof. For any
         partial Calendar Year after a Renewal Term commences, actual Additional
         Rent shall be determined and Tenant shall pay its proportionate share
         thereof.

                  Base Expense Rate. The Actual Expenses, for the Calendar Year
         in which a Renewal Term commences, determined on a modified cash basis
         in accordance with generally accepted accounting principles in order to
         account for Expenses as required in subparagraph m. of the definition
         of Expenses set forth below, during such Calendar Year divided by the
         Rentable Area in the Building.

                  Exclusions. As defined in the definition of Expenses.

                  Expenses. Except as otherwise limited by the terms of the
         Lease, all costs and expenses directly and reasonably incurred by
         Landlord (the nature, character and extent of which are customarily
         incurred by landlords of Comparable Space) in the operation and
         maintenance of the Building. Such costs include, without limitation,
         the following items:

                  a. All ad valorem or real property taxes and assessments,
         general or special, which are levied, assessed or imposed by any
         Governmental Authority upon any legal or equitable interest of Landlord
         in the Lease, Landlord as the landlord of the Building, the Building,
         or the underlying real estate (whether or not owned by Landlord), or
         any improvements, fixtures, equipment or other property of Landlord,
         real or personal, located in or on the Building and used in the
         operation or maintenance of the Building. Taxes shall also include any
         levy, assessment or imposition in addition to or in lieu of such real
         or personal property taxes; license fees; sales taxes imposed on
         supplies purchased for the operation of the Building; business
         privilege taxes; and ad valorem taxes measured by or imposed upon
         rents, but shall not include: (i) any federal, state or local income
         taxes, (ii) franchise, estate, or inheritance taxes, and (iii) real
         estate transfer taxes imposed by reason of the sale of the Building
         Complex or any portion thereof or any interest therein. Tenant shall
         only be responsible for its share of taxes accruing during any Renewal
         Term exercised by Tenant, notwithstanding the date of payment or
         collection. Any "tax year" shall mean a Calendar Year, notwithstanding
         the use of any different period for assessment or collection.
         Notwithstanding the foregoing definition, Expenses for taxes shall not
         include any penalties or interest for Landlord's failure to comply with
         the obligation for the payment thereof;

                  b. The cost (without markup or profit to Landlord) of
         electricity (up to three and one-half (3 1/2) watts per square foot of
         Rentable Area in the Building), gas, water, sewer, power, heating,
         lighting, air conditioning, ventilating and all similar services, which
         are or will be consumed by the Building, but excluding special
         requirements of tenants above those general requirements set forth in
         Section 3.2 and Exhibit F of the Lease, whether or not Landlord is
         being or has the right to be separately reimbursed therefor. Any use of
         electricity

                                       49
<PAGE>   53

         by any tenant (including Tenant) in excess of three and one-half (3
         1/2) watts per square foot of Rentable Area and, except as otherwise
         provided in the Lease, any use of HVAC by any tenant in the Building
         outside Normal Business Hours shall be considered as special
         requirements of tenants which are excluded from Expenses;

                  c. All wages, salaries, benefits, fees and other costs,
         including, without limitation, uniforms, payroll and social security
         taxes, and insurance directly borne by Landlord (or on its behalf) for
         all of its employees engaged in the management, operation, repair,
         replacement (other than capital replacement), maintenance and
         supervision of the Building;

                  d. All supplies, materials, noncapital tools and equipment
         used in the management, operation, repair, replacement (other than
         capital replacement), cleaning, painting, maintenance and supervision
         of the Building;

                  e. All commercially reasonable maintenance and service
         agreements on equipment in the Building, including, without limitation,
         alarm service and elevator maintenance;

                  f. To the extent required of Landlord under Article V of the
         Lease, all premiums for hazard insurance (including, without
         limitation, premiums for fire and extended coverage and other casualty
         insurance), public liability insurance for the Building and such
         insurance identified in Article V of the Lease which Landlord actually
         obtains, or in the event of self-insurance, would otherwise be in
         force. In the event Landlord decides to self-insure, the amount which
         would have been paid as premiums by Landlord but for the
         self-insurance;

                  g. All repairs, noncapital replacements and general
         maintenance of the Building;

                  h. All commercially reasonable service or maintenance
         contracts with independent contractors for the operation, repair,
         maintenance, servicing or supervision of the Building not included
         under subparagraph e. of this definition of Expenses;

                  i. All janitorial services for the Building other than those
         of any retail tenant in the Building; provided, however, special
         janitorial services for other tenants above the Building's standard
         janitorial services as set forth in Exhibit C to the Lease shall not be
         included herein;

                  j. The proportionate, amortized cost of any capital
         improvements to the Building or the Common Areas (which are classified
         as capital expenditures under generally accepted accounting principles
         consistently applied) which (i) are made for the purpose of reducing
         operating expenses, or (ii) are mandated by Governmental Authority
         under any law or regulation relating to life safety systems that was
         not applicable to the Building as of the Commencement Date of the
         Lease; provided, however, if any portion of the cost of capital
         improvements for life safety systems results from the inadequacy of
         life safety systems required by any Governmental Authority under any
         law or regulation that was in effect as of the date of Certificate of
         Occupancy for the Building, such portion of the capital expenditure
         shall not be included in Expenses; and provided further, that the
         requirement to comply with any such law or regulation is not
         necessitated by any request or application for any permit, license,
         approval, variance or authorization from any such Governmental
         Authority; and provided further, Expenses shall not include the costs
         of compliance with The Americans With Disabilities Act Of 1990 (the
         "ADA"), and any rules and regulations promulgated thereto and currently
         in effect to the extent such act and rules and regulations affect the
         Building and the Common Areas but excluding any improvements within the
         Premises designed or constructed by Tenant, its agents or contractors.
         This cost shall be amortized over the useful or economic life of the
         capital improvements as determined in accordance with generally
         accepted accounting principles consistently applied, together with
         interest on the unamortized balance at the actual rate incurred by
         Landlord which shall not, however, exceed the Contract Rate at the time
         the expense is incurred;

                  k. All reasonable management fees;

                  l. All reasonable legal, accounting and other professional
         fees, professional trade association memberships dues for the Building
         personnel, including managers and organizers; costs and other expenses
         for the Building incurred by Landlord in the ordinary course of the
         management, operation, maintenance and promotion of an office building
         containing Comparable Space;

                                       50
<PAGE>   54

                  m. For purposes only of determining Expenses in the Base
         Expense Rate, all additional expenses (the "Variable Operating Costs")
         which Landlord reasonably determines Landlord would have incurred had
         the Building been ninety-five percent (95%) leased and occupied with
         all tenant improvements constructed, and without regard to any
         abatements, curtailments or reductions in any form of rent allowed
         under any lease of any portion of the Building, for purposes of
         determining operating expenses or fees related to Building management;
         provided, however, that (i) Variable Operating Costs shall specifically
         include, but shall not be limited to, Landlord's direct costs in
         supplying gas, electricity, heating, ventilating, air conditioning,
         water, and any other utilities, waste disposal, supervision and
         janitorial services to the Building, all of which vary based upon
         occupancy; (ii) no adjustment under this subparagraph m. shall result
         in profit to Landlord and no cost allocable to construction of any
         portion of the Common Areas and construction of any portion of the
         Building shall be included in determining Variable Operating Costs; and
         (iii) such costs shall specifically include all costs which Landlord
         would have incurred but for the existence of warranties on any portion
         of the Building Complex, including, without limitation, any equipment
         or machinery used therein.

         In addition to any items excluded from Expenses as set forth above, the
following items (collectively, "Exclusions") also shall be excluded from
Expenses: (1) expenses for any capital improvements except as provided elsewhere
herein; (2) expenses incurred in leasing space or procuring new tenants (e.g.,
lease commissions, advertising expenses, marketing studies, advertising and
promotional funds (except as permitted elsewhere herein) and expenses of
preparing, upfitting or renovating space for new tenants); (3) legal or
accounting expenses in negotiating or enforcing the terms of any space lease or
related to the sale of the Building or to any ground lease related to all or any
portion of the Building; (4) interest, amortization payments, late charges, fees
and other charges on any mortgage or other evidence of indebtedness, whether or
not secured by all or any portion of the Building Complex except as provided in
subparagraph j. above; (5) any expenses for which Landlord has been or has the
right to be reimbursed by a specific tenant or a third party on behalf of such
tenant; (6) extraordinary costs arising from the use by others of the Common
Areas for shows, promotions and other public or special events; (7) costs of
utilities not otherwise reimbursable, including, without limitation, costs of
chilled water and HVAC, and costs of electricity in excess of three and one-half
(3 1/2) watts per square foot of Rentable Area in any portion of the Building,
either directly billed, or directly billable, to, or specifically requested by,
any tenant of the Building, and/or any HVAC outside of Normal Business Hours
provided to any tenant of the Building or any other services provided to any
other tenant that exceed services to be furnished by Landlord pursuant to
Section 3.2 or Exhibit F of the Lease; (8) Landlord's local, state or federal
income or gross receipts taxes or gift, succession, franchise, inheritance or
estate taxes; (9) wages, salaries and benefits of executives or employees above
the level of Senior Building Manager of the Building; (10) costs incurred by
Landlord for repairs or other work caused by fire, windstorm or other casualty
for which Landlord is required to maintain insurance pursuant to the Lease,
except costs incurred by Landlord in restoring the Building in accordance with
the Lease resulting from commercially reasonable deductibles as provided in
Article V of the Lease; (11) the costs of contract services provided by Landlord
or its subsidiaries or affiliates, together with overhead and profit increments
paid to subsidiaries or affiliates of Landlord for services on or to the
Building Complex, to the extent the costs, overhead or profit related to such
services to the Building Complex exceeds the costs of such services rendered on
a competitive basis for Comparable Space by unaffiliated parties of similar
skill, competence and experience who are capable of providing such services;
(12) any rental or other payments due under any ground or underlying lease or
leases; (13) any syndication, financing or refinancing costs and expenses
(including interest on debt or amortization payments on debt) incurred in
connection with any mortgage or mortgages or any other debt instrument
encumbering all or any portion of the Building Complex; (14) depreciation and
amortization, except as otherwise expressly provided in subparagraph j. of this
definition of Expenses; (15) rentals and other related operating expenses, if
any, incurred in leasing air conditioning systems, elevators or other equipment
ordinarily considered to be of a capital nature, except: (a) to the extent
capital costs are permitted to be included in Expenses pursuant to subparagraph
j. of the definition of Expenses, and (b) temporary rentals and related expenses
for a reasonable period to keep permanent systems in operation while Landlord
procures necessary repairs; (16) costs of initially constructing the base
Building work and the Common Areas of the Building Complex; (17) costs of
correcting any defects in (a) the base Building work, (b) any tenant
improvements, (c) Common Areas and (d) other improvements installed by Landlord,
Tenant's contractor or Landlord's contractor; (18) except for necessary repair
and maintenance expenses of the Common Areas that are expressly included as
Expenses herein, costs incurred in renovating or otherwise altering, improving,
decorating or redecorating space in the Common Areas, or incurred in renovating
or otherwise altering, improving, decorating or redecorating vacant rentable
space; (19) any bad debts loss, rent loss or reserves for bad debts or rent
loss; (20) costs associated with the operation of the business of the legal
entity which constitutes Landlord or of persons or entities which constitute or
are affiliated with Landlord or its partners, as such costs are separate and
apart from costs associated with the operation of the Building, including legal
entity

                                       51
<PAGE>   55

formation, internal entity accounting and internal legal matters; (21)
attorneys' fees and other costs and expenses incurred in connection with
negotiations or disputes with present or prospective tenants or other occupants
of the Building Complex or incurred by negotiating or enforcing any lease at the
Building Complex or attorneys' fees awarded to any tenant pursuant to any lease,
or incurred as a result of Landlord's failure to maintain any insurance required
of Landlord under the Lease or any other lease; (22) costs of repair, abatement,
removal or clean-up of any Hazardous Materials under laws currently in effect;
(23) expenses for which Landlord has received a credit, refund or rebate from
any party; and (24) unless such management results in cost savings to Tenant,
management fees and all other costs associated with any building within the
Building Complex other than the Building.

         In addition to the Exclusions set forth above, Expenses shall be
reduced by the amount of any insurance reimbursement and other reimbursement,
recoupment, payment, discount, credit, reduction, allowance or the like not
enumerated above but received by Landlord in connection with such Expenses that
are allocable to any Expenses payable in whole or in part by Tenant.

         The following matters shall be taken into account when determining
Expenses: (1) The Parking Garage will be economically and operationally
independent from the remainder of the Building Complex, although there will be
cross-easements for construction, for operation and repair of utilities, for
access and for other purposes between each part of the Building Complex and the
Parking Garage; (2) any Expenses associated with usage of the Parking Garage or
the Common Areas by any third party, including but not limited to the owners,
managers, employees, tenants, contractors, agents, or visitors of or to any
Third Party Development, will be borne by such third party; (3) any Expenses
associated with the joint use of the Common Areas or the Parking Garage by the
owners, managers, employees, tenants, contractors, agents or visitors of or to
the Building Complex, on the one hand, and the owners, managers, employees,
tenants, contractors, agents or visitors of or to any Third Party Development,
on the other hand, will be shared ratably between the Building Complex and such
Third Party Development (the portion of such Expenses attributable to the
Building Complex being considered to be "Expenses" for all purposes hereunder,
including, without limitation, allocation thereof to the tenants of the Building
Complex); (4) the Building, Parking Garage and, to the extent applicable,
various Third Party Developments, may or will share the Building's central
plant, but each such area will be separately metered or submetered and the
tenant in each such area shall be solely responsible for its pro rata costs of
utilities (including chilled water) which it uses; (5) third parties, including,
without limitation, Third Party Developments, will be charged for any usage of
the Building Complex which creates incremental costs attributable to such usage
by such third parties. Each of the Third Party Developments otherwise is created
as a separate entity which, except for the obligation to pay costs as set forth
in the preceding sentence, has no obligation to share any costs related to the
Expenses of the Building and, conversely, no tenant of the Building shall have
any obligation to pay any expenses of any Third Party Development except as
otherwise provided herein; (6) the outdoor plazas will be operated as integral
portions of the Building; (7) retail tenants in the Building shall be
responsible for the costs of cleaning and maintaining their space and other
costs directly related to or arising out of use of the retail areas of the
Building after Normal Business Hours or attributable to services in excess of
those provided to office tenants (except as otherwise provided herein) or
attributable to any janitorial or related services associated with the sale or
consumption of food or other food handling activities in the Building during
Normal Business Hours; and (8) total Expenses will be reduced by payments
towards Expenses (as set forth in item (5) above) that are or should be received
from other tenants or from any Third Party Development.

         Additional Rent and Expenses shall be determined on a modified cash
basis consistently applied. "Modified cash basis" shall mean including all cash
basis accounting transactions for the year as they relate to Expenses and
modifying those balances to include twelve (12) months of activity. Modified
cash basis accounting differs from accrual basis accounting in that it attempts
to account for one (1) year's activity as opposed to analyzing exact work dates
and invoice dates to determine inclusion in a given year.

                  Projected Expense Rate. As defined in Section 6 hereof.

                  Third Party Development. Any office, retail or condominium
         development (other than the Building, the Plaza, and the Parking
         Garage) which may be located from time to time on the Block and which
         is not owned by Landlord.

                  Variable Operating Costs. As defined in subparagraph m. of the
         definition of Expenses.

         6. Additional Rent. Additional Rent shall be due during any Calendar
Year, beginning with the Calendar Year immediately following the commencement of
a Renewal Term, during which the Actual Expense Rate is greater than the Base
Expense Rate. Prior to January 1 of each Calendar Year (or as soon thereafter as
reasonably possible), Landlord shall provide to Tenant a statement of

                                       52
<PAGE>   56

Landlord's reasonable estimate of the Expense Rate (calculated by dividing
Landlord's reasonable estimate of Expenses for the ensuing Calendar Year by the
Rentable Area in the Building) projected by Landlord for the ensuing Calendar
Year (the "Projected Expense Rate"). Beginning with the first month of the
Calendar Year immediately following the commencement of a Renewal Term, Tenant
shall pay to Landlord on the first day of each month one-twelfth (1/12th) of the
product of (a) the positive difference (if any) obtained by subtracting the Base
Expense Rate from the Projected Expense Rate for such Calendar Year, and (b) the
Rentable Area in the Premises. Until Tenant has received the statement of the
Projected Expense Rate from Landlord, Tenant shall pay or continue to pay
Additional Rent to Landlord in the same amount (if any) as required for the last
month of the prior Calendar Year. After Tenant receives the statement, on the
next date when Base Rent is due, Tenant shall pay to Landlord, or Landlord shall
credit to Tenant (whichever is appropriate), the difference between the amount
paid by Tenant and the amount payable by Tenant as set forth in such statement.
Not more than twice during any Calendar Year, Landlord may in good faith revise
the Projected Expense Rate and provide Tenant with a revised statement, and
thereafter Tenant shall pay Additional Rent on the basis of the revised
statement. Landlord shall provide to Tenant, within one hundred fifty (150) days
after the end of each Calendar Year, a statement of the Actual Expenses, the
Actual Expense Rate and the Additional Rent for such year. Tenant shall pay to
Landlord, within thirty (30) days after Tenant's receipt of such statement, the
uncollected Additional Rent for such Calendar Year. If the actual Additional
Rent payable by Tenant for any Calendar Year is less than the aggregate of the
actual Additional Rent collected by Landlord for such Calendar Year, Landlord
shall promptly refund the amount of such excess (or, at Landlord's option, apply
such excess against the next ensuing payments of Rent due or to become due
hereunder). Failure of Landlord to provide the statement called for hereunder
shall not relieve Tenant from its obligations under this Section 6 or elsewhere
in this Lease.

         7. Effect of Assignment or Subletting. Upon the assignment or
subletting of all or a portion of the Premises by Tenant to any party other than
a Tenant Affiliate, and whether or not such assignment is approved or permitted
by Landlord, the rights granted by this Exhibit I shall automatically terminate
and shall be of no further force or effect.

         8. Effect of Termination/Expiration of Master Services Agreement.
Immediately upon expiration or termination of the Master Services Agreement, the
following shall apply:

                  (a) Section 5.7 of the Lease shall automatically delete and
the following shall be placed in lieu thereof:

                  5.7 CASUALTY DAMAGE. If the Premises shall be damaged by fire
         or other casualty, Tenant shall give prompt written notice to Landlord.
         If the Building or any part thereof or access thereto shall be so
         damaged or destroyed by fire or other casualty that substantial
         alteration or reconstruction of the Building and access thereto shall,
         in the good faith and reasonable determination of Landlord's Architect,
         be required with such repair taking longer than two hundred seventy
         (270) days (whether or not the Premises shall have been damaged by such
         casualty), or in the event any mortgagee should require that the
         insurance proceeds be applied to the payment of the mortgage debt, or
         in the event of any material uninsured loss to the Building, or in the
         event of any substantial damage to the Building within the final two
         (2) years of the Term (as the same may have been extended), Landlord
         may, at its option, terminate the Lease by notifying Tenant in writing
         within thirty (30) days after the date of such damage. In case the
         Premises shall be so damaged by fire or other casualty that substantial
         alteration or reconstruction of the Building shall, in the mutual good
         faith and reasonable determination of Landlord's Architect, be
         required, Tenant shall have the right to terminate this Lease upon
         thirty (30) days prior written notice to Landlord if Landlord (i) has
         not completed, (ii) cannot complete or (iii) in the opinion of
         Landlord's Architect, cannot reasonably be expected to complete
         substantially the making of any required repairs and restorations
         within two hundred seventy (270) days from the date of such damage or
         destruction. In addition, if any such damage or destruction shall occur
         during the last two (2) Lease Years of the Term, Tenant, at its option,
         may terminate this Lease by giving prior written notice to Landlord
         within thirty (30) days after the events specified in clauses (i),
         (ii), or (iii) above occur or become determinable. Rent shall abate and
         be prorated as of the date such damage occurs and during any period of
         repair and restoration to the extent the Premises or any material part
         thereof are rendered unusable or access thereto is denied Tenant. If
         Landlord or Tenant does not thus elect to terminate this Lease,
         Landlord shall commence and diligently proceed to restore and repair
         the Building or the Project and the Premises to substantially the same
         condition in which it was immediately prior to the happening of the
         casualty except that Landlord's obligation to restore shall not exceed
         the scope of Landlord's work and the applicable Construction Allowance,
         both adjusted for inflation, in originally constructing the Base
         Building and the Premises. When the Landlord's work with respect to
         such reconstruction or restoration has been completed, Tenant shall
         complete the restoration

                                       53
<PAGE>   57

         of the Premises, including the reconstruction of all remaining
         leasehold improvements and the restoration of Tenant's furniture and
         equipment. Landlord shall not be liable for any inconvenience or
         annoyance to Tenant or injury to the business of Tenant resulting in
         any way from such damage or repair, except that Landlord shall allow
         Tenant a fair diminution of Rent during the time and to the extent the
         Premises or any material portion thereof are unfit for occupancy. If
         the casualty results from the fault or negligence of Tenant or any of
         Tenant's agents, employees or invitees, Rent shall not be diminished
         during the repair of such damage and Tenant shall be liable to Landlord
         for the cost of the repair and restoration of the Building to the
         extent such cost and expense is not covered by insurance proceeds.

                  (b) Section 6.1 of the Lease shall automatically delete and
the following shall be placed in lieu thereof:

                  6.1 EFFECT OF CONDEMNATION. If the whole or substantially the
         whole of the Premises or access thereto should be taken for any public
         or quasi-public use, under any statute or by right of eminent domain or
         otherwise or should title to the Building or access thereto be taken or
         be sold by private purchase in lieu of condemnation, then this Lease
         shall terminate as of (i) the date when physical possession of the
         Premises is taken or access thereto is substantially impaired by the
         condemning authority; or (ii) the date that the Premises, or access
         thereto is adversely affected by the taking and Tenant's use or
         enjoyment of the Premises is substantially impaired. If less than the
         whole Building or Premises is thus taken or sold, or in the event of a
         temporary taking of less than two hundred seventy (270) days, Landlord
         (whether or not the Premises are affected thereby) may not terminate
         this Lease but Tenant's Rent shall be abated during the period of such
         partial taking and Landlord shall proceed with due diligence to make
         all necessary repairs and alterations. If this Lease is not so
         terminated upon any such taking or sale, Rent shall be reduced by an
         equitable amount. Landlord shall restore the Building and the Premises
         to substantially their former condition, and except to the extent
         Landlord is required to insure Tenant's improvements to the Premises,
         such work shall not exceed the scope of Landlord's work and the
         applicable Construction Allowance, both adjusted for inflation, in
         originally constructing the Base Building and the Premises.

                  (c) Tenant, its officers, managers, agents and employees shall
no longer be offered the discounted parking rates available to Landlord's
employees.

                  (d) Section 8.24 of the Lease, Right of Early Termination,
shall automatically be deleted and the following substituted therefore:

                  8.24 RIGHT OF EARLY TERMINATION. If Landlord cancels or
         terminates the Master Services Agreement (or if Tenant terminates
         pursuant to a right of Tenant to terminate because Landlord is in
         default beyond applicable cure periods) and such cancellation or
         termination is effective prior to the expiration date of the then
         current Renewal Term, then Tenant may elect either to (i) terminate
         this Lease; or (ii) remain in the Premises for the remainder of the
         initial Term. If Tenant elects to terminate, such election shall be
         exercised by written notice provided to Landlord not later than thirty
         (30) days following the date of such cancellation or termination of the
         Master Services Agreement. If Tenant elects to terminate this Lease,
         Tenant may also elect, within the same written notice, to holdover for
         a period not to exceed six (6) calendar months following the date of
         such termination. Tenant shall pay Base Rent during such extended
         period equal to the Market Rate determined in accordance with the
         provisions of Exhibit I.

                  (e) Exhibit E to the Lease, Option to Expand, shall
automatically delete.

                  (f) Upon the expiration or termination of the Master Services
Agreement, Section 8.21 of the Lease shall be deleted and the following
substituted therefore:

                  6.21 RELOCATION. Landlord, at Landlord's expense at any time
         during any Renewal Term of this Lease, shall be entitled to cause
         Tenant to relocate from the Premises only if: (i) the term of the
         Master Lease shall have expired and shall not have been extended; (ii)
         the Premises shall have been damaged by fire or other casualty, as
         provided in Section 5.7; (iii) the whole or substantially the whole of
         the Premises shall have been taken by condemnation or otherwise, as
         provided in Section 6.1; (iv) other tenants of the Building with prior
         expansion rights shall have exercised such rights with respect to all
         or a portion of the Premises; or (v) there shall have been an
         enforcement of the remedies provided to a mortgagee, trustee or
         beneficiary, as provided in Section 4.10. Such permissible relocations
         (each, a "Relocation") shall be to alternative space within Uptown
         Charlotte containing approximately the same Rentable Area as the
         Premises (the "Relocation Space") at any time

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<PAGE>   58

         upon prior written notice to Tenant as soon as reasonably possible
         after Landlord's knowledge that such Relocation would be necessary or
         advisable, but in no event less than two hundred seventy (270) days'
         prior to such proposed relocation, except in an event of casualty or
         condemnation, when the notice provided may be shorter due to the
         circumstances. Such Relocation Space shall be Comparable Space. Except
         in the event of a Relocation to accommodate a Renewal Term after the
         Master Services Agreement has terminated, Landlord shall pay for all
         reasonable costs of such Relocation, including but not limited to any
         necessary cabling, phone switches, reinstallation of fixtures and
         furniture and all such other expenses necessary to provide a turn key
         environment similar to the existing environment. Landlord shall
         endeavor to provide Relocation Space with a floor plate of at least
         twenty-five thousand (25,000) square feet. Such Relocation shall not
         affect this Lease except that from and after the date of such
         Relocation, "Premises" shall refer to the Relocation Space into which
         Tenant has been moved rather than the original Premises. In the event
         Landlord exercises its right to relocate Tenant as set forth in this
         Section 8.21, Landlord and Tenant agree to enter into an amendment to
         this Lease substituting the Relocation Space for the original Premises,
         and designating the space within such Building which will be available
         for Tenant's Expansion Space (if not already exercised).
         Notwithstanding any statement to the contrary contained in the
         foregoing paragraph, if Tenant elects pursuant to Exhibit E to expand
         onto the sixth (6th) floor of Transamerica Square, Tenant shall bear
         full responsibility for the cost of later relocating Tenant from the
         sixth (6th) floor if due to the election of Transamerica as tenant to
         expand into the sixth (6th) floor.

         9. Tenant's Termination Fee. If Tenant elects not to exercise any
renewal rights after the expiration or termination of the Master Services
Agreement, then Tenant shall be obligated to pay to Landlord a termination fee
equal to Base Rent at the Market Rate on the Premises for a [***]* month period,
unless Tenant elects to remain in the Premises and pay Base Rent during such
holdover period.

--------------
* Confidential information has been omitted.

                                       55

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