Document:

EXHIBIT 10.3
                                                                    ------------

                              EMPLOYMENT AGREEMENT
                              --------------------

         THIS EMPLOYMENT AGREEMENT entered into as of this 24th day of May 1999,
between The Publishing Company of North America, Inc. (the "Company") and Peter
S. Balise (the "Executive").

         WHEREAS, the Company desires to employ Executive and to ensure the
continued availability to the Company of the Executive's services, and the
Executive is willing to accept such employment and render such services, all
upon and subject to the terms and conditions contained in this Agreement and

         WHEREAS, the Company has provided and/or will provide specialized
training in its business to the Executive;

         NOW, THEREFORE, in consideration of the premises and the mutual
covenants set forth in this Agreement, and intending to be legally bound, the
Company and the Executive agree as follows:

         1.  Term of Employment.
             ------------------

                  (a) Term. The Company hereby employs the Executive, and the
         Executive hereby accepts employment with the Company, for a period
         commencing May 24, 1999 and ending three years thereafter.

                  (b) Continuing Effect. Notwithstanding any termination of this
         Agreement except for termination under Section 5(c), at the end of the
         Term or otherwise, the provisions of Sections 6 and 7 shall remain in
         full force and effect and the provisions of Section 7 shall be binding
         upon the legal representatives, successors and assigns of the
         Executive.

         2.  Duties.
             ------

                  (a) General Duties. The Executive shall serve as president and
         chief executive officer of the Company, with duties and
         responsibilities that are consistent with the Executive's duties and
         responsibilities as of the date of this Agreement. The Executive will
         also perform services for such subsidiaries as may be necessary. The
         Executive will use his best efforts to perform his duties and discharge
         his responsibilities pursuant to this Agreement competently, carefully
         and faithfully. In determining whether or not the Executive has used
         his best efforts hereunder, the Executive's and the Company's
         delegation of authority and all surrounding circumstances shall be
         taken into account and the best efforts of the Executive shall not be
         judged solely on the Company's earnings or other results of the
         Executive's performance.

                  (b) Devotion of Time. The Executive shall devote all of his
         time, attention and energies during normal business hours (exclusive of
         periods of sickness and disability and of such normal holiday and
         vacation periods as have been established by the Company) to the
         affairs of the Company.

         3.  Compensation and Expenses.
             -------------------------

                  (a) Salary. For the services of the Executive to be rendered
         under this Agreement, the Company shall pay the Executive a salary as
         follows: (1) For the first year of this Agreement, the Executive shall
         receive $2,500 per week; (2) For the second year of this Agreement, the
         Executive shall receive $3,000 per week; (3) For the third year of this
         Agreement, the Executive shall receive $3,500 weekly.

                  (b) Expenses. In addition to any compensation received
         pursuant to Section 3(a) and (c), the Company will reimburse or advance
         funds to the Executive for all reasonable travel, entertainment and
         miscellaneous expenses incurred in connection with the performance of
         his duties under this Agreement.
<PAGE>

                  (c) Management Bonus. The Executive shall receive an annual
         bonus equal to 5% of the Company's increase in incremental (measured
         from the previous year) year-end pre-tax net income. Bonus calculation
         for fiscal 1999 shall use as a basis, zero dollars profit for fiscal
         year 1998, whereas the Executive shall not be paid a bonus on the
         difference between zero dollars profit and the Company's $885,337.00
         1998 year-end loss.

         4.  Benefits.
             --------

                  (a) Vacation. For each 12-month period during the Term, the
         Executive will be entitled to four weeks of vacation without loss of
         compensation or other benefits to which he is entitled under this
         Agreement, to be taken at such times as the Executive may select and
         the affairs of the Company may permit. Any unused vacation will be paid
         for by the Company in addition to regular salary at the annual rate in
         effect during 12 month period.

                  (b) Options. Upon execution of this Agreement, the Executive
         shall be granted 150,000 non-qualified options to purchase the
         Company's common stock, exercisable at Two Dollars each ($2.00) and
         vesting over a three year period, with one third vesting each December
         31st for the duration of this Agreement, and expiring ten years after.

                  (c) Employee Benefit Programs. The Executive is entitled to
         participate in any pension, 401(k), insurance or other employee benefit
         plan that is maintained by the Company for its executive officers,
         including programs of life and medical insurance and reimbursement of
         membership fees in civic, social and professional organizations.

                  (d) Insurance. The Company shall provide to Executive and pay
         premiums on the Company's medical insurance policy and any other
         medical, dental or insurance programs offered through the company,
         covering Executive and Executive's dependents.

                  (e) Car Allowance. The Executive is entitled to the use of a
         Company automobile currently consisting of the 1996 Chevrolet Tahoe
         used by him which may be replaced by the Executive once during the term
         of this agreement with a new comparable automobile at his discretion.
         All expenses associated with the use of such automobile including
         insurance, gas, oil and repairs shall be paid by the Company.

         5.  Termination.
             -----------

                  (a) Termination for Cause. The Company may terminate the
         Executive's employment pursuant to the terms of this Agreement at any
         time for cause by giving written notice of termination. Such
         termination will become effective upon the giving of such notice. Upon
         any such termination for cause, the Executive shall have no right to
         compensation, bonus or reimbursement under Section 3, or to participate
         in any employee benefit programs under Section 4, except as provided by
         law, for any period subsequent to the effective date of termination.
         For purposes of this Section 5(a), "cause" shall mean: (i) the
         Executive is convicted of a felony which is directly related to the
         Executive's employment or the business of the Company; (ii) the
         Executive, in carrying out his duties hereunder, has been found in a
         civil action to have committed gross negligence or intentional
         misconduct resulting in either case in direct material harm to the
         Company; (iii) the Executive is found in a civil action to have
         breached his fiduciary duty to the Company resulting in direct profit
         to him; or (iv) the Executive is found in a civil action to have
         materially breached any provision of Section 6 or Section 7. The term
         "found in a civil action" shall not apply until all appeals permissible
         under the applicable rules of procedure or statute have been determined
         and no further appeals are permissible.
<PAGE>

                  (b) Death or Disability. Except as otherwise provided in this
         Agreement, it shall terminate upon the death or disability of the
         Executive. For purposes of this Section 5(b), "disability" shall mean
         that for a period of 12 consecutive months in any 12-month period the
         Executive is incapable of substantially fulfilling the duties set forth
         in Section 2 because of physical, mental or emotional incapacity
         resulting from injury, sickness or disease. In the event of Executive's
         disability, the Executive will be paid compensation, benefits and bonus
         which may accrue during the period of disability up to a total of 18
         months, or for the remainder of this Agreement, whichever time is
         greater.

                  (c) Special Termination. In the event that (i) the Executive,
         with or without change in title or formal corporate action, shall no
         longer exercise all of the duties and responsibilities and shall no
         longer possess substantially all the authority set forth in Section 2;
         or (ii) the Company materially breaches this Agreement or the
         performance of its duties and obligations hereunder; or (iii) any
         entity or person not now an executive officer of the Company becomes
         either individually or as part of a group the beneficial owner of 25%
         or more of the Company's common stock, in any such event the Executive,
         by written notice to the Company, may elect to deem the Executive's
         employment hereunder to have been terminated by the Company without
         cause, in which event the Executive shall be entitled to the
         compensation, reimbursement and benefits payable pursuant to Sections 3
         and 4 herein for the remaining term of this Agreement and all of
         Executive's remaining unvested options shall vest immediately upon such
         termination. In such event, the Executive, by written notice to the
         Company, may elect to refuse all further obligations of the Company
         under Sections 3 and 4 and to release the Company with respect thereto,
         in which event the Company shall release the Executive from the
         provisions of Section 6.

                  (d) Continuing Effect. Notwithstanding any termination of the
         Executive's employment as provided in this Section 5 or otherwise, the
         provisions of Section 6 shall remain in full force and effect, except
         as otherwise provided in Section 5(c).

         6.  Non-competition Agreement.
             -------------------------

                  (a) Competition with the Company. Until termination of his
         employment and for a period of 12 months commencing on the date of
         termination, the Executive, directly or indirectly, in association with
         or as a shareholder, director, officer, consultant, employee, partner,
         joint venturer, member or otherwise of or through any person, firm,
         corporation, partnership, association or other entity, will not compete
         with the Company or any of its affiliates in the offer, sale or
         marketing of products or services that are competitive with any of the
         products or services offered by the Company, within any metropolitan
         area in the United States or elsewhere in which the Company is then
         engaged in the offer and sale of competitive products or services;
         provided, however, the foregoing shall not prevent Executive from
         accepting employment with an enterprise engaged in two or more lines of
         business, one of which is the same or similar to a portion of the
         Company's business (the "Prohibited Business") if Executive's
         employment is totally unrelated to the Prohibited Business; provided,
         further, the foregoing shall not prohibit Executive from owning up to
         5% of the securities of any publicly-traded enterprise provided
         Executive is not an employee, director, officer, consultant to such
         enterprise or otherwise reimbursed for services rendered to such
         enterprise.

                  (b) Solicitation of Customers. During the periods in which the
         provisions of Section 6(a) shall be in effect, the Executive, will not
         seek Prohibited Business from any Customer (as defined below) on behalf
         of any enterprise or business that is in direct competition with the
         Company's bar association print directory programs, refer Prohibited
         Business from any Customer to any enterprise or business that is in
         direct competition with the Company's bar association print directory
         programs or receive commissions based on sales or otherwise relating to
         the Prohibited Business from any Customer, or any enterprise that is in
         direct
<PAGE>

         competition with the Company's bar association print directory
         programs. For purposes of this Section 6(b), the term "Customer" means
         any person, firm, corporation, partnership, association or other entity
         to which the Company or any of its affiliates sold or provided goods or
         services during the 6-month period prior to the time at which any
         determination is required to be made as to whether any such person,
         firm, corporation, partnership, association or other entity is a
         Customer.

                  (c) No Payment. The Executive acknowledges and agrees that no
         separate or additional payment will be required to be made to him in
         consideration of his undertakings in this Section 6.

         7.  Nondisclosure of Confidential Information. The Executive
         acknowledges that during his employment he will learn and will have
         access to confidential information regarding the Company and its
         affiliates, including without limitation (i) confidential or secret
         plans, programs, documents, agreements or other material relating to
         the business, services or activities of the Company and its affiliates
         and (ii) trade secrets, market reports, customer investigations,
         customer lists and other similar information that is proprietary
         information of the Company or its affiliates (collectively referred to
         as "Confidential Information"). The Executive acknowledges that such
         Confidential Information as is acquired and used by the Company or its
         affiliates is a special, valuable and unique asset. All records, files,
         materials and Confidential Information obtained by the Executive in the
         course of his employment with the Company are confidential and
         proprietary and shall remain the exclusive property of the Company or
         its affiliates, as the case may be. The Executive will not, except in
         connection with and as required by his performance of his duties under
         this Agreement, for any reason use for his own benefit or the benefit
         of any person or entity with which he may be associated or disclose any
         such Confidential Information to any person, firm, corporation,
         association or other entity for any reason or purpose whatsoever
         without the prior written consent of the Board unless such Confidential
         Information previously shall have become public knowledge through no
         action by or omission of the Executive.

         8.  Equitable Relief.
             ----------------

                  (a) The Company and the Executive recognize that the services
         to be rendered under this Agreement by the Executive are special,
         unique and of extraordinary character, and that in the event of the
         breach by the Executive of the terms and conditions of this Agreement
         or if the Executive, without the prior consent of the Board shall leave
         his employment for any reason and take any action in violation of
         Section 6 or Section 7, the Company will be entitled to institute and
         prosecute proceedings in any court of competent jurisdiction referred
         to in Section 8(b) below, to enjoin the Executive from breaching the
         provisions of Section 6 or Section 7. In such action, the Company will
         not be required to plead or prove irreparable harm or lack of an
         adequate remedy at law. Nothing contained in this Section 8 shall be
         construed to prevent the Company from seeking such other remedy in
         arbitration in case of any breach of this Agreement by the Executive,
         as the Company may elect.

                  (b) Any proceeding or action must be commenced in Volusia
         County, Florida where the Company maintains its principal offices. The
         Executive and the Company irrevocably and unconditionally submit to the
         exclusive jurisdiction of such courts and agree to take any and all
         future action necessary to submit to the jurisdiction of such courts.
         The Executive and the Company irrevocably waive any objection that they
         now have or hereafter irrevocably waive any objection that they now
         have or hereafter may have to the laying of venue of any suit, action
         or proceeding brought in any such court and further irrevocably waive
         any claim that any such suit, action or proceeding brought in any such
         court has been brought in an inconvenient forum. Final judgment against
         the Executive or the Company in any such suit shall be conclusive and
         may be enforced in other jurisdictions by suit on the judgment, a
         certified or true copy of
<PAGE>

         which shall be conclusive evidence of the fact and the amount of any
         liability of the Executive or the Company therein described, or by
         appropriate proceedings under any applicable law or otherwise.

         9.  Assignability. The rights and obligations of the Company under this
         Agreement shall inure to the benefit of and be binding upon the
         successors and assigns of the Company, provided that such successor or
         assign shall acquire all or substantially all of the securities or
         assets of the Company. The Executive's obligations hereunder may not be
         assigned or alienated and any attempt to do so by the Executive will be
         void.

         10. Severability.
             ------------

                  (a) The Executive expressly agrees that the character,
         duration and geographical scope of the provisions set forth in this
         Agreement are reasonable in light of the circumstances as they exist on
         the date hereof. Should a decision, however, be made at a later date by
         a court of competent jurisdiction that the character, duration or
         geographical scope of such provisions is unreasonable, then it is the
         intention and the agreement of the Executive and the Company that this
         Agreement shall be construed by the court in such a manner as to impose
         only those restrictions on the Executive's conduct that are reasonable
         in the light of the circumstances and as are necessary to assure to the
         Company the benefits of this Agreement. If, in any judicial proceeding,
         a court shall refuse to enforce all of the separate covenants deemed
         included herein because taken together they are more extensive than
         necessary to assure to the Company the intended benefits of this
         Agreement, it is expressly understood and agreed by the parties hereto
         that the provisions of this Agreement that, if eliminated, would permit
         the remaining separate provisions to be enforced in such proceeding
         shall be deemed eliminated, for the purposes of such proceeding, from
         this Agreement.

                  (b) If any provision of this Agreement otherwise is deemed to
         be invalid or unenforceable or is prohibited by the laws of the state
         or jurisdiction where it is to be performed, this Agreement shall be
         considered divisible as to such provision and such provision shall be
         inoperative in such state or jurisdiction and shall not be part of the
         consideration moving from either of the parties to the other. The
         remaining provisions of this Agreement shall be valid and binding and
         of like effect as though such provision were not included.

         11. Notices and Addresses. All notices, offers, acceptance and any
         other acts under this Agreement (except payment) shall be in writing,
         and shall be sufficiently given if delivered to the addressees in
         person, by Federal Express or similar receipted delivery, by facsimile
         delivery or, if mailed, postage prepaid, by certified mail, return
         receipt requested, as follows:

         To the Company:           The Publishing Company of
                                   North America, Inc.
                                   186 PCNA Parkway
                                   Lake Helen, Florida 32744

         With a Copy to:           Michael D. Harris,  Esq.
                                   Michael Harris, P.A.
                                   1645 Palm Beach Lakes Blvd., Ste. 550
                                   West Palm Beach, FL 33401
<PAGE>

         To the Executive:         Mr. Peter S. Balise
                                   2394 River Tree Circle
                                   Sanford, Florida 32771

         or to such other address as either of them, by notice to the other may
         designate from time to time. The transmission confirmation receipt from
         the sender's facsimile machine shall be conclusive evidence of
         successful facsimile delivery. Time shall be counted to, or from, as
         the case may be, the delivery in person or by mailing.

         12.  Counterparts. This Agreement may be executed in one or more
         counterparts, each of which shall be deemed an original but all of
         which together shall constitute one and the same instrument. The
         execution of this Agreement may be by actual or facsimile signature.

         13.  Attorney's Fees. In the event that there is any controversy or
         claim arising out of or relating to this Agreement, or to the
         interpretation, breach or enforcement thereof, and any action or
         proceeding is commenced to enforce the provisions of this Agreement,
         the prevailing party shall be entitled to a reasonable attorney's fee,
         costs and expenses.

         14.  Governing Law. This Agreement and any dispute, disagreement, or
         issue of construction or interpretation arising hereunder whether
         relating to its execution, its validity, the obligations provided
         therein or performance shall be governed or interpreted according to
         the internal laws of the State of Florida without regard to choice of
         law considerations.

         15.  Entire Agreement. This Agreement constitutes the entire Agreement
         between the parties and supersedes all prior oral and written
         agreements between the parties hereto with respect to the subject
         matter hereof. Neither this Agreement nor any provision hereof may be
         changed, waived, discharged or terminated orally, except by a statement
         in writing signed by the party or parties against which enforcement or
         the change, waiver discharge or termination is sought.

         16.  Section and Paragraph Headings. The section and paragraph headings
         in this Agreement are for reference purposes only and shall not affect
         the meaning or interpretation of this Agreement.

         IN WITNESS WHEREOF, the Company and the Executive have executed this
Agreement as of the date and year first above written.

                                                 THE PUBLISHING COMPANY OF
                                                 NORTH AMERICA, INC.

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

------------------                               By:
                                                    --------------------------
                                                    William Wrigley, Chief
                                                    Operating Officer

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

------------------                               By:
                                                    --------------------------
                                                    Peter S. BaliseEXHIBIT 10.6
                                                                    ------------

                              CONSULTING AGREEMENT

         This Consulting Agreement (the "Agreement") is dated as of February 29,
2000 (the "Effective Date"), and is made by and between McKinsey & Company, Inc.
United States, a Delaware corporation ("McKinsey"), and The Publishing Company
of North America, Inc., a Florida corporation ("Client") with respect to certain
services provided by McKinsey as described herein. The parties hereby agree to
the following terms and conditions in connection with such services.

         1. Services. McKinsey agrees to assist the Client in connection with
its development of a business plan, launch program and financing negotiations
for Attorneys.com, as more fully described in Exhibit A (the "Project"). In the
event the Client requests additional services related to the Project, the scope
of such additional services shall be as agreed by the parties and shall be
governed by this agreement.

         2. Compensation. The parties agree that McKinsey will be compensated by
Client for its professional fees in connection with the Project as provided on
Exhibit B. In addition, Client will reimburse McKinsey for expenses incurred,
which expenses will include external costs such as travel and courier, and other
costs such as administrative support, report reproduction and computer support
as provided in Exhibit B. Compensation for any additional services provided by
McKinsey relating to the Project shall be as agreed by the parties.

         3. Term. McKinsey's services in connection with the Project shall begin
on or about March 6, 2000, and are expected to be completed approximately by
April 28, 2000. This agreement shall govern all services provided by McKinsey in
connection with the Project and any additional services related to the Project
as agreed by the parties. Either party may terminate the Project by giving ten
(10) days' prior written notice to the other. In the event of any such
termination, McKinsey shall be compensated pro rata for professional fees and
expenses incurred with respect to services performed through the effective date
of termination in accordance with Section 2, but will not be entitled to any
additional compensation.

         4. Confidentiality. McKinsey recognizes that certain confidential
information concerning the Client will be furnished by the Client to McKinsey in
connection with the Project ("Confidential Information").

         McKinsey agrees that it will disclose Confidential Information only to
those of its directors, officers, employees, advisors or agents who have a need
to know such information, or to advisors to the Client. Confidential Information
shall not include information that (i) is in the possession of McKinsey prior to
its receipt of such information from the Client, (ii) is or becomes publicly
available other than as a result of a breach of this agreement by McKinsey, or
(iii) is or can be independently acquired or developed by McKinsey without
violating any of its obligations under this agreement.

         The Client recognizes and confirms that McKinsey (a) will use and rely
primarily on the Confidential Information and on information available from
public sources in performing the services

<PAGE>

contemplated by this agreement without having independently verified the same,
and (b) does not assume responsibility for the accuracy or completeness of the
Confidential Information or such other publicly available information.

         In the event that McKinsey receives a request to disclose all or any
part of any Confidential Information under the terms of a valid and effective
subpoena or order issued by a court of competent jurisdiction, judicial or
administrative agency or by a legislative body or committee, such disclosure by
McKinsey shall not constitute a violation of this Agreement provided that
McKinsey (a) promptly notifies Client of the existence, terms and circumstances
surrounding such request, (b) consults with Client on the advisability of taking
available legal steps to resist or narrow such request, and (c) if disclosure of
such Confidential Information is required or deemed advisable, exercises its
best efforts to obtain an order or other reliable assurance that confidential
treatment will be accorded to such portion of the Confidential Information to be
disclosed which Client designates.

         5. Use of McKinsey Name and Work Products. In connection with the
Project, McKinsey may furnish the Client with reports, analyses or other such
materials (the "Materials"). The Client understands and agrees that any such
Materials will be furnished solely for its internal use and may not be furnished
in whole or in part to any other person other than its directors, officers and
employees without the prior written consent of McKinsey.

         The Client may furnish Materials to its legal counsel, accountants or
investment bankers who have been retained by the Client to provide services in
connection with the Project and who need to know such information in the
performance of such services if (i) the Client informs each such person of the
confidential nature of the Materials, (ii) each such person agrees not to
disclose the Materials to any other person and to use the Materials solely in
connection with the performance of its services to the Client, and (iii) each
such person agrees that in connection with discussions with or disclosures to
other third parties, it will not attribute any information contained in the
Materials to McKinsey.

         The Client further agrees not to refer to McKinsey or attribute any
information to McKinsey (i) in the press, (ii) for advertising or promotional
purposes, or (iii) for the purpose of informing or influencing any third party,
including the investment community, without the prior written consent of
McKinsey.

         In the event that the Client receives a request to disclose all or any
part of any Materials under the terms of a valid and effective subpoena or order
issued by a court of competent jurisdiction, judicial or administrative agency
or by a legislative body or committee, such disclosure by the Client shall not
constitute a violation of this Agreement provided that the Client (a) promptly
notifies McKinsey of the existence, terms and circumstances surrounding such
request, (b) consults with McKinsey on the advisability of taking available
legal steps to resist or narrow such request, and (c) if disclosure of such
Materials is required or deemed advisable, exercises its best efforts to obtain
an order or other reliable assurance that confidential treatment will be
accorded to such portion of the Materials to be disclosed which McKinsey
designates.

<PAGE>

         6. Work Product. Client shall have a perpetual, irrevocable,
nontransferable, paid-up right and license to use and copy the Materials and
prepare derivative works based on the Materials for its internal use, subject to
the terms of Section 5. All other rights in the Materials, subject to the terms
of Section 4, remain in and/or are assigned to McKinsey. The parties will
cooperate with each other and execute such other documents as may be appropriate
to achieve the objectives of this Section.

         Client acknowledges that McKinsey may develop for itself, or for
others, problem solving approaches, frameworks or other tools or information
similar to the Materials and processes developed in performing the Project and
any additional Services, and nothing contained herein precludes McKinsey from
developing or disclosing such materials and information provided that the same
do not contain or reflect Confidential Information.

         7. Indemnification. The Client hereby agrees to indemnify and hold
harmless (i) McKinsey, (ii) any entity directly or indirectly controlling,
controlled by, or under common control with, McKinsey, or any other affiliates
of McKinsey or such entities (collectively "McKinsey Affiliates"), and (iii) the
respective directors, officers, stockholders, agents and employees of McKinsey
and such entities (collectively, "Indemnified Persons"), from and against all
claims, liabilities, losses, damages, and expenses as incurred (including
reasonable legal fees and disbursements of counsel and the costs of McKinsey
professional time), joint or several (including actions or proceedings in
respect thereof) (collectively "Losses"), relating to or arising out of: (i) the
Project (including without limitation the provision of consulting services), or
(ii) any transaction or matter which is related to the subject matter of the
Project. The Client shall not, however, be liable under the foregoing indemnity
agreement to the extent that any such Losses are determined by an arbitration
pursuant to Section 14 or are otherwise finally determined, as the case may be,
to have resulted primarily from the gross negligence, willful misconduct or bad
faith of any Indemnified Person in connection with the Project. The Client also
agrees that no Indemnified Person shall have any liability (whether direct or
indirect, in contract or in tort or otherwise) to the Client or any person
claiming through the Client, including without limitation its owners, parents,
affiliates, security holders or creditors, for any Losses suffered by the Client
or any such other person relating to or arising out of (i) the Project
(including without limitation the provision of consulting services), or (ii) any
transaction or matter which is related to the subject matter of the Project, and
further agrees that McKinsey shall be reimbursed for any expenses as incurred by
any Indemnified Persons relating to the foregoing (including reasonable legal
fees and disbursements of counsel and the costs of McKinsey professional time),
except to the extent that any such Losses are determined by an arbitration
pursuant to Section 14 or are otherwise finally determined, as the case may be,
to have resulted primarily from the gross negligence, willful misconduct or bad
faith of any Indemnified Person in connection with the Project.

         The Client further agrees that it will not settle or compromise or
consent to the entry of any judgment in any pending or threatened claim, action
or proceeding in respect of which indemnification may be sought hereunder
(whether or not any Indemnified Person is an actual or potential party to such
claim, action or proceeding) unless the Client has given McKinsey reasonable
prior written notice thereof and obtained an unconditional release of each
Indemnified Person from all liability arising therefrom, which unconditional
release shall not place any non-financial obligations on any Indemnified Person.

<PAGE>

         The Client acknowledges and agrees that its obligations hereunder shall
be in addition to any rights that any Indemnified Person may have at law or
otherwise.

         Upon receipt by McKinsey of notice of a claim, action or proceeding in
respect of which indemnity may be sought hereunder, McKinsey shall promptly
notify the Client with respect thereto. If in McKinsey's reasonable judgment
there is no conflict of interest between McKinsey (or any Indemnified Person)
and the Client, the Client may at its option assume and control the defense of
any litigation or proceeding in respect of which indemnity is sought hereunder
with counsel reasonably acceptable to McKinsey. If in McKinsey's reasonable
judgment there is a conflict of interest between McKinsey (or any Indemnified
Person) and the Client, McKinsey shall assume and control the defense of any
litigation or proceeding (as it relates to McKinsey or any such Indemnified
Person) in respect of which indemnity is sought hereunder with counsel
reasonably acceptable to the Client. The Client shall not be liable hereunder or
otherwise for any settlement of any claim, action or proceeding effected without
its written consent, which shall not be unreasonably withheld. Nothing contained
herein shall prevent McKinsey from retaining, at its own expense, legal counsel
of its choice.

         8. Client Acknowledgment. It is the long-standing practice of McKinsey
to serve multiple clients within industries, including those with opposing
economic interests, as well as counter-parties in potential and actual merger,
acquisition and alliance transactions. McKinsey is committed to maintaining the
confidentiality of each client's information (generally as described in this
agreement) in all such situations. Accordingly, the Client acknowledges the
possibility and agrees that McKinsey may have served, may currently be serving
or may in the future serve other companies whose interests are adverse to those
of the Client, including parties with whom the Client (i) competes; (ii) has a
commercial relationship or potential commercial relationship (e.g., suppliers,
distributors); (iii) enters into competitive bidding situations; and (iv) enters
into or considers entering into merger, acquisition, divestiture, alliance or
joint venture transactions.

         9. Independent Contractor. The parties agree that McKinsey is an
independent contractor to Client and will not be deemed an employee of Client
for any purpose whatsoever. Without limiting the foregoing, all income taxes
arising from or in connection with professional fees paid by Client to McKinsey
for the services provided under this Agreement shall be borne by McKinsey.
Neither party nor such party's directors, officers, employees or agents, shall
bind or make any commitment on behalf of the other party.

         10. Survival and Succession. This agreement shall survive the
completion or termination of the Project and any related services provided by
McKinsey. Further, this agreement, in its entirety, shall inure to the benefit
of and be binding on the successors and assigns of the Client and McKinsey.

<PAGE>

         11. Assignment. Neither of the parties hereto shall assign or transfer
its interest in this Agreement or any portion thereof without the prior written
consent of the other party except that (i) Client may assign or transfer its
rights and obligations under this Agreement to a subsidiary or entity
controlling, controlled by or under common control with Client (an "Affiliate")
or to any entity that acquires all or substantially all of the assets of Client
or more than 50% of the current outstanding voting stock of Client and (ii)
McKinsey shall be entitled to assign the right to receive any compensation
received hereunder to a third party without the prior written consent of Client,
subject to restrictions of applicable law.

         12. Severability. The various provisions and subprovisions of this
Agreement are severable and if any provision or subprovision or part thereof is
held to be unenforceable by any court of competent jurisdiction, then such
enforceability shall not affect the validity or enforceability of the remaining
provisions or subprovisions or parts thereof in this Agreement.

         13. Entire Agreement/Governing Law. This Agreement (including Exhibit
A) constitutes the entire agreement between the parties and supersedes all prior
agreements and understandings, oral and written, and may not be modified or
amended except in writing signed by both parties. The laws of the State of New
York, excluding that body of law controlling conflicts of law, will govern all
disputes arising out of or relating to this Agreement.

         14. Arbitration. Any dispute, controversy or claim arising out of or in
connection with, or relating to, this agreement, or the breach, termination or
validity thereof, shall be finally settled by arbitration. The arbitration shall
be conducted in accordance with the commercial arbitration rules of the American
Arbitration Association (the "AAA") in effect at the time of the arbitration,
except as they may be modified by mutual agreement of the parties. The seat of
the arbitration shall be New York, New York, and the arbitration shall be
conducted in English.

         The arbitration shall be conducted by three arbitrators. The party
initiating arbitration (the "Claimant") shall appoint an arbitrator in its
request for arbitration (the "Request"). The other party (the "Respondent")
shall appoint an arbitrator within 30 days of receipt of the Request. If by that
date either party has not appointed an arbitrator, then that arbitrator shall be
appointed promptly by the AAA. The first two arbitrators appointed shall appoint
a third arbitrator within 30 days after the Respondent has notified Claimant of
the appointment of Respondent's arbitrator or, in the event of a failure by a
party to appoint, within 30 days after the AAA has notified the parties of its
appointment of an arbitrator on behalf of the party failing to appoint. If the
first two arbitrators appointed fail to appoint a third arbitrator within the
time period prescribed above, then the AAA shall appoint the third arbitrator.

         The arbitral award shall be in writing, state the reasons for the
award, and be final and binding on the parties. The award may include an award
of costs, including reasonable attorneys' fees and disbursements. Judgment upon
the award may be entered by any court having jurisdiction thereof or having
jurisdiction over the relevant party or its assets.

         15. Notices. Any notices under this Agreement will be sent by certified
or registered mail, return receipt requested, or by facsimile (provided that the
sender received electronic confirmation of

<PAGE>

receipt by recipient) to the address specified below or such other address as
the party specifies in writing. Such notice will be effective upon being sent as
specified in this Section.

                                          The Publishing Company of
                                          North America, Inc.

                                          By: /s/ Peter S. Balise
                                              ---------------------

                                          Title: President
                                                 ------------------

                                          Date:  March 6, 2000
                                                 ------------------

                                          McKinsey & Company, Inc. United States

                                          By: /s/ Joachim Heel
                                              ---------------------

                                          Title: Principal
                                                 ------------------

                                          Date: March 6, 2000
                                                -------------------
<PAGE>

                                    EXHIBIT A

                                SCOPE OF SERVICES

The scope of McKinsey's services shall be as described in McKinsey's letter of
proposal to the Client dated February 2000, attached hereto and incorporated
herein by reference, subject to any changes as mutually agreed by the parties.

<PAGE>

                                    EXHIBIT B

                         PROFESSIONAL FEES AND EXPENSES

McKinsey's professional fees for the Project shall be $300,000 per month, 40% of
which shall be paid by the Client in cash and 60% of which shall accrue and be
paid in restricted common stock of The Publishing Company of North America,
Inc., ("PCNA") as described further below. The cash and equity portions of the
professional fees shall be earned on a weekly basis; the cash portions shall be
billed and paid monthly and the equity shall be issued as described below. In
addition, the Client agrees to reimburse McKinsey in cash on a monthly basis for
expenses incurred in connection with the Project.

The common stock shall be valued at the end of each week at a 20% discount to
the average closing price of PCNA common stock for such week.

         o        The Client shall grant to McKinsey piggy-back registration
                  rights relating to the shares of common stock issued to
                  McKinsey in connection herewith.

         o        The Client shall issue the common stock payable to McKinsey
                  hereunder in 2 tranches as follows: on 3/31/00 the Client
                  shall issue all equity earned by McKinsey prior to such date,
                  and on 4/28/00 the Client shall issue to McKinsey all equity
                  earned after 3/31/00, unless otherwise agreed by the parties.

         o        The shares shall be issued to and held in the name of 52nd
                  Street Associates, Inc., which is a Delaware corporation and a
                  McKinsey affiliate.

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