Document:

Exhibit 10.3

  EXHIBIT 10.3
 EMPLOYMENT AGREEMENT
           THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of the _16th____ day of June, 2002, by and between BRADLEY D. ADAMS
(“Executive”); SAXON MORTGAGE, INC., a Virginia corporation (“SMI”); and SAXON CAPITAL, Inc., a Delaware corporation (the “Company”).
 RECITALS
           WHEREAS, the Company and Executive desire to enter into this Agreement which provides for the
terms and conditions of Executive’s employment with the Company as of the date of this Agreement (the “Effective Date”) 
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            NOW, THEREFORE, in consideration of the mutual agreements set
forth herein, the parties hereto agree as follows:
 AGREEMENT
 ARTICLE I.
 EMPLOYMENT
           1.1.    Term.  This Agreement shall be effective from
the Effective Date and shall remain in effect until midnight on the first anniversary of the Effective Date (the “Initial Term”), and will automatically be renewed for successive one-year terms (each an “Additional Term” and
referred to herein together with the Initial Term as the “Term”), unless either the Company or Executive notifies the other in writing of an intention to terminate the Agreement as of the end of the then current Initial Term or Additional
Term, as applicable, at least ninety (90) days prior to the end thereof.
           1.2.    Position and Duties. 
The Company hereby engages and employs Executive as Executive Vice President and Director of Capital Markets of the Company.  In addition, Executive shall be appointed as Executive Vice President and Director of Capital Markets of SMI. 
The Company’s Board of Directors (the “Board”) may provide such additional designations of title to Executive as the Board, in its discretion, may deem appropriate.  Executive shall perform the executive duties and functions
related to the above positions, subject to the limitations of authority set forth from time to time in any resolution of the Board or applicable law. 
           1.3.    Best Efforts.  Executive agrees to devote his full time and attention to the Company, to use his best efforts to advance the
business and welfare of the Company, to render his services under this Agreement fully, faithfully, diligently, competently and to the best of his ability, and not to engage in any other employment activities.  Notwithstanding anything herein
to the contrary, Executive shall not be precluded from:  (i) engaging in charitable activities and community affairs and managing his personal investments and affairs; provided, that such activities do not materially interfere with the
proper performance of his duties and responsibilities under this Agreement; or (ii) owning up to 1% of a publicly-held company engaged in the same or similar business as the Company.
 ARTICLE II.
 COMPENSATION AND BENEFITS
           2.1.    Base Salary.  For all services to be rendered by Executive under this Agreement, the Company agrees to pay Executive an annual
base salary (“Base Salary”) of $225,000 (subject to adjustment upward as recommended by the Compensation Committee of the Board (the “Compensation Committee”)), less deductions required by law, payable in accordance with the
normal payroll practices of the Company.
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            2.2.    Annual Performance
Bonus.
                     (a)    Payment of Performance
Bonus.  On or before March 1 of each year (provided that the Company’s audited financial statements for the applicable year shall be available prior to such date) or as soon thereafter as practicable following availability of the
Company’s audited financial statements for the applicable year, but no later than April 15 of each year, the Company shall pay to Executive a cash bonus (“Bonus”) of up to 100% of Executive’s Base Salary, as determined by the
Board, or the Compensation Committee, based on Executive’s performance and the performance of the Company during the prior fiscal year. Except as provided in Section 2.2(b), the Company shall not be obligated to pay Executive any Bonus for his
performance or the Company’s performance during any year, unless Executive is employed through December 31 of such year. 
                     (b)    Pro-Rated Bonus Upon Change in Control or Death.  Within
thirty (30) days following the consummation of a Change in Control (as defined below) or Executive’s death, the Company shall pay to Executive or to his estate or heirs a pro-rated cash bonus equal to 100% of Executive’s annual Base
Salary, pro-rated from January 1 of the year in which such Change in Control or death occurs through and including the date of such Change in Control or death (the “Pro-Rated Bonus”).
           2.3.    Other Benefits.  The Company will further provide to Executive, at the Company’s expense, as other benefits (“Other
Benefits”) full participation, on a basis commensurate with his position with the Company, in all plans of life, accident, disability and health insurance that generally are made available to senior executives of the Company.

          2.4.    Expense Reimbursement.  The Company shall promptly reimburse Executive for all reasonable business expenses
incurred by Executive in promoting the business of the Company, including expenditures for entertainment, travel, or other expenses; provided, that (i) such expenditures are of a nature qualifying them as legitimate business expenses and
(ii) Executive furnishes to the Company adequate records and other documentary evidence reasonably required by the Company to substantiate such expenditures in accordance with the Company’s policies and procedures.
 ARTICLE III.
 TERMINATION , SEVERANCE PAY AND CHANGE IN CONTROL
           3.1.    Termination by the Company.
                     (a)    Severance Pay.
                              (i)    In the event that
Executive’s employment with the Company is terminated by the Company for Cause (as defined below), Executive shall not be entitled to any Severance Pay (as defined below) or employee benefits (including Other Benefits).
                              (ii)   In the event
that Executive’s employment with the Company is terminated by the Company other than for Cause, then, subject to Section 3.5 and in
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  consideration of Executive’s compliance with his obligations under Articles IV and V and Executive’s execution
of a general release in favor of the Company and its affiliates, Executive shall be entitled to severance pay in the form of monthly payments to Executive in an amount equal to 1/12th of the sum of (A) Executive’s annual Base Salary plus
(B) 100% of the maximum targeted Bonus for the fiscal year in which termination occurs, less deductions required by law (“Severance Pay”) payable in accordance with the normal payroll practices of the Company, for twelve (12) months
following such termination (the “Severance Payout Period”).  Alternatively, provided that Executive executes and delivers the said general release within fifteen (15) days following such a termination of employment by the Company
other than for Cause, at the Executive’s sole election the Executive’s Severance Pay shall be payable at the time of such delivery of the general release and shall consist of a lump sum equal to the sum of the amounts described in clauses
(A) and (B) of this subsection.  Executive acknowledges and agrees that in the event Executive breaches any provision of Articles IV or V or the general release, his right to receive Severance Pay under this Section 3.1(a)(ii) shall
automatically terminate and Executive shall repay all Severance Pay received.  
                     (b)    Benefits.  Following the effective date of termination, Executive
shall cease to be a Company employee and shall not be entitled to any employee benefits (including Other Benefits), except as set forth in this Section 3.1(b). In the event that the Company terminates Executive’s employment other than for Cause
(or, as provided in Section 3.2(b)(ii), Executive voluntarily terminates his employment for Good Reason (as defined below), for the longer or (A) twelve (12) months after the Executive’s date of termination, or (B) the Severance Payout Period
in the event Executive has not elected a the lump sum payment described in Section 3.1(a)(ii), Company shall continue to provide benefits to Executive and/or Executive’s family at least equal to those which would have been provided to them in
accordance with the plans, programs, practices and policies described in Section 2.3(b) of this Agreement if Executive’s employment had not been terminated or, if  more favorable to Executive, as in effect generally at any time thereafter
with respect to other peer executives of the Company and its affiliated companies, PROVIDED, HOWEVER, that if Executive becomes reemployed with another employer and is eligible to receive medical or other welfare benefits under another
employer-provided plan, the medical and other welfare benefits described herein shall be secondary to those provided under such other plan. Notwithstanding anything herein to the contrary, Executive’s termination shall not preclude Executive
from exercising his rights under COBRA to pay for the continuation of benefits previously provided by the Company.  
                     (c)    Cause.  For purposes of this Agreement, “Cause” shall
mean (i) an act or acts of personal dishonesty by Executive that were intended to result in substantial personal enrichment of Executive at the expense of the Company; (ii) Executive’s conviction of any felony; or
(iii) Executive’s gross negligence, willful insubordination or misconduct, intentional or persistent failure to perform stated duties or abide by the Company’s policies, or material breach of any provision of this Agreement, including
without limitation any representation or covenant contained in Articles IV or V.
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            3.2.    Termination by
Executive.
                     (a)    Notice.  Executive
shall have the right to voluntarily terminate his employment with the Company for whatever reason by providing the Company with at least sixty (60) days prior written notice.
                     (b)    Severance Pay.
                              (i)     In the event
Executive voluntarily terminates his employment with the Company without Good Reason, Executive shall not be entitled to any Severance Pay or employee benefits (including Other Benefits).
                              (ii)    In the event
Executive voluntarily terminates his employment with the Company for Good Reason, Executive shall be entitled, subject to Section 3.5, to Severance Pay; provided, that (i) Executive gives written notice of his resignation within thirty
(30) days of the occurrence of such Good Reason and advises, as part of such resignation, that he is resigning because of the Good Reason, and (ii) the occurrence of the Good Reason was not based on Cause.  Executive acknowledges and agrees
that in the event Executive breaches any provision of Articles IV or V or the general release, his right to receive Severance Pay under this Section 3.2(b)(ii) shall automatically terminate and Executive shall repay all Severance Pay
received.
                              (iii)  For purposes of this
Agreement, a resignation tendered by Executive pursuant to a direct request of the Board or another officer with higher executive status shall, for purposes of this Agreement, be treated as an involuntary termination, entitling Executive to
Severance Pay in accordance with the provisions of Sections 3.1(a) and 3.1(b) so long as the request was not based on Cause.
                     (b)    Good Reason.  For purposes of this Agreement, “Good
Reason” shall include (i) the material reduction or material adverse modification without Executive’s prior written consent of Executive’s authority or duties (i.e., the substantial diminution or adverse modification in
Executive’s title, status, overall position, responsibilities, reporting relationship or general working environment); (ii) any reduction in Executive’s Base Salary or Bonus calculation or any material reduction in employee benefits;
(iii) any requirement to move Executive’s principal place of employment to a location that is more than a 50 mile radius from its current location; or (iv) any material breach of this Agreement by the Company that is not cured within
thirty (30) days following demand for the cure thereof.
           3.3.    Death.  In the event of Executive’s
death, this Agreement shall automatically terminate and shall be of no further force and effect.  Termination of Executive’s employment as a result of his death shall not result in any obligation by the Company to pay to Executive’s
estate or heirs any Severance Pay or employee benefits (including Other Benefits) except as set forth in Section 2.2(b). 
           3.4.    Disability.  In the event of Executive’s Disability (as defined below) during the Term for any period of at least three
(3) consecutive months, the Company shall have the right, which may be exercised in its sole discretion, to terminate this Agreement.  In the event the Company elects to terminate this Agreement due to Executive’s Disability, Executive
shall not be
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  entitled to any Severance Pay or employee benefits (including Other Benefits) at any time, but Executive shall be entitled to
disability benefits to the extent provided in accordance with the policies and plans described in Section 2.3(c) of this Agreement as established from time to time by the Company. For purposes of this Agreement, “Executive’s
Disability” shall mean the inability of Executive to perform his employment services hereunder by reason of physical or mental illness or incapacity as determined by a physician chosen by the Company and reasonably satisfactory to Executive or
his legal representative.
           3.5.    Change in Control; Certain Tax Effects
                     (a)    Upon the consummation of a Change in Control, Executive shall be
entitled to pay in the form of monthly payments to Executive in an amount equal to 1/12th of the sum of (A) Executive’s annual Base Salary plus (B) the maximum Bonus for the fiscal year in which the consummation of a Change in Control
occurs, less deductions required by law, payable in accordance with the normal payroll practices of the Company, for twelve (12) months following consummation of such Change in Control (“Change in Control Payment”). Alternatively, at the
Executive’s sole election, the Executive’s Change in Control Payment shall consist of a lump sum equal to 100 percent (100%) of the sum of the amounts described in clauses (A) and (B) of this subsection.  The Change in Control Payment
shall be in addition to, and not in lieu of, Executive’s Base Salary and Bonus, if any, payable in accordance with the terms of this Agreement.  In addition, upon the consummation of a Change in Control, all of the Options shall become
immediately and fully exercisable.  Following the consummation of a Change in Control, Executive shall not be entitled to receive, and hereby waives all right to, Severance Pay pursuant to Section 3.1 or 3.2 in the event Executive’s
employment with the Company is terminated for any reason.  For purposes of this Section 3.5, “Change in Control” shall mean an acquisition, merger or consolidation of the Company or the sale of voting control or all or
substantially all of the assets of the Company with, by or to any person or entity in which the stockholders of the Company immediately prior to the effective date of such Change in Control do not own a majority of the outstanding shares of the
capital stock of the surviving entity after such Change in Control; provided, however, that “Change in Control” shall not be deemed to have occurred as a result of the consummation of the transactions provided for in the
Company’s Stock Purchase Agreement, dated July, 2001 or the resale of any securities under its Form S-1 Registration Statement.  If Executive’s employment with the Company is terminated by the Company other than for Cause at any time
following the public announcement of a prospective Change in Control, then, notwithstanding such termination, the Company shall pay to Executive, the Change in Control Payment based on Executive’s Base Salary in effect on the date of such
termination; provided, however, that such Change in Control Payment shall be reduced by the total amount of any Severance Pay received by Executive, and Executive thereafter shall not be entitled to any further payments of Severance
Pay.
                     (b)    In the event that any payments,
distributions or benefits provided or to be provided to the Executive, whether pursuant to this Agreement or from other plans or  arrangements maintained by the Company or any of the Consolidated Subsidiaries (excluding the Adjusted Gross Up
Payment and Additional Gross Up Payment (as such terms are hereinafter defined)) (collectively, the “Payment”) would be subject to excise tax under Section 4999
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  of the Code (such excise tax and any penalties and interest collectively, the “Penalty Tax”), the Company shall pay
to the Executive in cash an additional amount equal to the Adjusted Gross Up Payment. The “Adjusted Gross Up Payment” shall be an amount such that after payment by the Executive of all federal, state, local, employment and medicare taxes
thereon (and any penalties and interest with respect thereto), the Executive retains on an after tax basis a portion of such amount equal to the aggregate of 80% of the Penalty Tax imposed upon the Payment and 100% of the Penalty Tax imposed upon
the Adjusted Gross Up Payment.
                              (i)    For purposes of
determining the amount of the Adjusted Gross Up Payment, the value of any non-cash benefits and deferred payments or benefits subject to the Penalty Tax shall be determined by the Company’s independent auditors in accordance with the principles
of Section 280G(d)(3) and (4) of the Code. In the event that, after the Adjusted Gross Up Payment is made, the Executive becomes entitled to receive a refund of any portion of the Penalty Tax, the Executive shall promptly pay to the Company 80% of
such Penalty Tax refund attributable to the Payment (together with 80% of any interest paid or credited thereon by the Internal Revenue Service) and 100% of the Penalty Tax refund attributable to the Adjusted Gross Up Payment (together with 100% of
any interest paid or credited thereon by the Internal Revenue Service).
                              (ii)   As a result of the
uncertainty regarding the application of Section 4999 of the Code, it is possible that the Internal Revenue Service may assert that the Penalty Tax due is in excess of the amount of the anticipated Penalty Tax used in calculating the Adjusted Gross
Up Payment (such excess amount is hereafter referred to as the Underpayment”). In such event, the Company shall pay to the Executive, in immediately available funds, at the time the Underpayment is assessed or otherwise determined, an
additional amount equal to the Additional Gross Up Payment. The “Additional Gross Up Payment” shall be an amount such that after payment by the Executive of all federal, state, local, employment and medicare taxes thereon (and any
penalties and interest with respect thereto), the Executive retains on an after tax basis a portion of such amount equal to the aggregate of (i) 80% of the portion of the Underpayment attributable to the Payment, (ii) 100% of the portion of the
Underpayment attributable to the Adjusted Gross Up Payment and (iii) 100% of the Penalty Tax imposed on the Additional Gross Up Payment.
 ARTICLE IV.
 NONDISCLOSURE OF INFORMATION
           4.1.    Nondisclosure of
Proprietary Information.  At all times during and after Executive’s employment with the Company (whether or not such termination is voluntary or involuntary, with or without Cause or Good Reason or by Executive’s Disability),
Executive agrees to keep in strict confidence and trust all Proprietary Information (as defined below) and not to use or disclose (or induce or assist in the use or disclosure of) any Proprietary Information without the prior express written consent
of the Company, except as may be necessary in the ordinary course of performing Executive’s duties as an officer of the Company.  Executive
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  acknowledges that irreparable injury will result to the Company from Executive’s violation or continued violation of the
terms of this Article IV, and Executive expressly agrees that the Company shall be entitled, in addition to damages and any other remedies provided by law, to an injunction or other equitable remedy respecting such violation or continued
violation.  For purposes of this Agreement, “Proprietary Information” shall mean information generally unavailable to the public that has been created, discovered, developed or otherwise become known to the Company or in which
property rights have been assigned or otherwise conveyed to the Company, including any modifications or enhancements thereto, which information has material economic value or potential material economic value to the Company or the business in which
the Company is or will be engaged.  Proprietary Information shall include, but not be limited to, financial, sales and distribution information; business plans, strategies and forecasts; lists of employees, contractors, customers, agents and
independent brokers; trade secrets; processes; formulas; data; know-how; negative know-how; improvements; discoveries; developments; designs; inventions; techniques; proposals; reports; client information; and software programs and information
(whether or not expressed in written form).  Such restrictions on the use or disclosure of Proprietary Information do not extend to any item of information which (i) is publicly known immediately prior to the time of its disclosure,
(ii)  is lawfully received from a third party not bound in a confidential relationship to the Company or (iii) is published or otherwise made known to the public by the Company.
           4.2.    Return of Proprietary Information and Property.  Upon termination of Executive’s employment for any reason, Executive
will deliver to the Company all Proprietary Information and any equipment, supplies, facilities and other tangible property owned, leased or contracted for by the Company which property is in Executive’s possession as of the date of such
termination.
 ARTICLE V.
 NON-COMPETITION AND NON-SOLICITATION
           5.1     Non-Competition.  Executive agrees that, so long as he is employed by the Company and for a period of one (1) year after
termination of his employment for any reason except termination by the Company for Cause, he shall not, without the prior written consent of the Company, either directly or indirectly, including, without limitation, through a partnership, joint
venture, corporation or other entity or as a consultant, director or employee, engage in any activity which the Company shall determine in good faith to be in competition with the Company, including, without limitation, any business activities
conducted by the Company as of the date hereof within those geographic areas in which the Company conducts active business operations.  The parties hereto agree that both the scope and nature of the covenant and the duration and area for which
the covenant not to compete set forth in this Article V is to be effective are reasonable in light of all facts and circumstances.
           5.2     Non-Solicitation.  Executive agrees that, so long as he is employed by the Company and for a period of one (1) year after
termination of his employment for any reason except termination by the Company for Cause, he shall not (i) directly or indirectly solicit, induce or attempt to solicit or induce any Company employee to discontinue his or her
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  employment with the Company, (ii) usurp any opportunity of the Company that Executive became aware of during his tenure
at the Company or which is made available to him on the basis of the belief that Executive is still employed by the Company, or (iii) directly or indirectly solicit or induce or attempt to influence any person or business that is an account,
customer or client of the Company to restrict or cancel the business of any such account, customer or client with the Company.
           5.3    Specific Performance.  Because of the difficulty of measuring economic losses to the Company as a result of a breach of the
foregoing covenants, and because of the immediate and irreparable damage that could be caused to the Company for which it would have no other adequate remedy, Executive agrees that the foregoing covenants, in addition to and not in limitation of any
other rights, remedies or damages available to the Company at law, in equity or under this Agreement, may be enforced by the Company in the event of the breach or threatened breach by Executive, by injunctions and/or restraining orders.  If the
Company is involved in court or other legal proceedings to enforce the covenants contained in this Article V, then, in the event the Company prevails in such proceedings, Executive shall be liable for the payment of reasonable attorneys’
fees, costs and ancillary expenses incurred by the Company in enforcing its rights hereunder.
 ARTICLE VI.
 MISCELLANEOUS
           6.1.    Successors and Assigns; Binding Agreement.  This
Agreement shall inure to the benefit of and shall be binding upon the Company, its successors and assigns.  The obligations and duties of Executive hereunder are personal and otherwise not assignable.  This Agreement shall inure to the
benefit of and be enforceable by Executive’s legal representatives.  This Agreement shall not be terminated by the voluntary or involuntary dissolution of the Company or by any Change in Control.  In the event of any such Change in
Control, the provisions of this Agreement shall bind and inure to the benefit of the surviving or resulting entity, or the entity to which such assets shall have been transferred, as the case may be; provided, however, that the Company
will require any successor to all or substantially all of the business and/or assets of the Company, by agreement in form and substance satisfactory to Executive, to expressly assume and agree to perform under this Agreement in the same manner and
to the same extent that the Company would be required to perform it if no such succession had taken place.
           6.2.    Arbitration.  Other than with respect to Articles IV and V hereof, any and all disputes arising out of the
interpretation, application or breach of this Agreement shall be subject to arbitration pursuant to the Company’s Mutual Agreement to Arbitrate Claims, a copy of which is attached hereto as Exhibit A and incorporated herein by this
reference.
           6.3.    No Waiver.  The waiver by either party of a breach of any provision of this Agreement
shall not operate as or be construed as a waiver of any subsequent breach thereof.
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            6.4.    Governing Law.  This
Agreement shall be construed and enforced in accordance with the laws and decisions of the Commonwealth of Virginia (regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof).
           6.5.    Notice.  All notices and other communications under this Agreement shall be in writing and shall be given by hand
delivery, or first-class mail, certified or registered with return receipt requested, or by commercial overnight courier or by fax and shall be deemed to have been duly given upon hand delivery, receipt if mailed, the first business day following
delivery to a commercial overnight courier or upon receipt of a fax, and addressed, if to the Company, to its then principal office, attention Chairman of the Board; and if to Executive, at Executive’s address appearing below on the signature
page hereto or at such other address as Executive may designate from time to time in accordance with the terms of this Section 6.5.
           6.6.    Amendments.  No amendment or modification of the terms of this Agreement shall be valid unless made by written agreement
executed by the parties hereto or their respective successors and legal representative.
           6.7.    Severability.  In the event that any provision of this Agreement, including without limitation any provision of Article IV or
Article V, shall to any extent be held invalid, unreasonable or unenforceable, in any circumstances, the parties hereto agree that the remainder of this Agreement and the application of such provision of this Agreement to other circumstances shall
be valid and enforceable to the fullest extent permitted by law, but only to the extent that such enforceability is in accordance with the intent of the parties as evidenced by this Agreement.  If any provision, or any part thereof, is held to
be unenforceable because of the scope or duration of or the area covered by such provision, the parties hereto agree that the court making such determination shall have the power, and is hereby asked by the parties, to reduce the scope, duration
and/or area of such provisions (and to substitute appropriate provisions for any such unenforceable provisions) in order to make such provisions enforceable to the fullest extent permitted by law, and/or to delete specific words and phrases, and
such modified provisions shall then be enforceable and shall be enforced.
           6.8.    Entire Agreement.  This
Agreement constitutes the entire agreement between the parties regarding the subject matter hereof, and supersedes all prior or contemporaneous negotiations, understandings or agreements of the parties, whether written or oral, with respect to such
subject matter.
           6.9.    Counterparts.  This Agreement may be executed in counterparts, each of which
shall be deemed to be an original, but all of which shall constitute one and the same agreement.
           IN WITNESS WHEREOF, the parties hereto
have executed and delivered this Employment Agreement as of the day and year first above written.
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 	 SAXON CAPITAL, INC.:
 	  
 
	  
 	  
 	  
 
	  
 	  
 	  
 
	  
 	 By:
 	  
 	  
 
	  
 	  
 	 
 	  
 
	  
 	 Name:
 	 Michael L. Sawyer
 	  
 
	  
 	 Its:
 	 Chief Executive Officer
 	  
 
	  
 	  
 	  
 	  
 
	  
 	  
 	  
 	  
 
	  
 	 SAXON MORTGAGE, INC.:
 	  
 
	  
 	  
 	  
 	  
 
	  
 	  
 	  
 	  
 
	  
 	 By:
 	  
 	  
 
	  
 	  
 	 
 	  
 
	  
 	 Name:
 	 Michael L. Sawyer
 	  
 
	  
 	 Its:
 	 President
 	  
 
	  
 	  
 	  
 	  
 
	  
 	 EXECUTIVE:
 	  
 
	  
 	  
 	  
 	  
 
	  
 	  
 	 
 	  
 
	  
 	  
 	 Bradley D. Adams
 	  
 
	  
 	 Address:
 	  
 	  
 
	  
 	  
 	 
 	  
 
	  
 	  
 	 
 	  
 
	  
 	  
 	 
 	  
 

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  EXHIBIT A
 MUTUAL AGREEMENT TO
ARBITRATE CLAIMS
           Executive recognizes that differences may arise between the Company and Executive during or following
Executive’s employment with the Company, and that those differences may or may not be related to Executive’s employment.  Executive understands and agrees that by entering into the Employment Agreement (the “Employment
Agreement”) with the Company into which this Mutual Agreement to Arbitrate Claims is incorporated by reference (this “Arbitration Agreement”), Executive anticipates gaining the benefits of a speedy, impartial dispute-resolution
procedure.
           Executive understands that any capitalized terms used but not defined in this Arbitration Agreement shall have the meanings
ascribed thereto in the Employment Agreement, provided that any reference in this Arbitration Agreement to the Company will also be a reference to all subsidiary and affiliated entities; all benefit plans; the benefit plans’ sponsors,
fiduciaries, administrators, affiliates; and all successors and assigns of any of them.
           Claims Covered by this Arbitration
Agreement
           The Company and Executive mutually consent to the resolution by arbitration of all claims (“claims”), whether or
not arising out of Executive’s employment (or its termination), that the Company may have against Executive or that Executive may have against the Company or against its officers, directors, employees or agents in their capacity as such or
otherwise.  The claims covered by this Arbitration Agreement include, but are not limited to, claims for wages or other compensation due; claims for breach of any contract or covenant (express or implied); tort claims; claims for discrimination
(including, but not limited to, race, sex, religion, national origin, age, marital status, medical condition, or disability); claims for benefits (except where an employee benefit or pension plan specifies that its claims procedure shall culminate
in an arbitration procedure different from this one), and claims for violation of any federal, state, or other governmental law, statute, regulation, or ordinance, except claims excluded in the Claims Not Covered section below.
           Except as otherwise provided in this Arbitration Agreement, both the Company and Executive agree that neither shall initiate or prosecute any lawsuit or
administrative action (other than an administrative charge of discrimination) in any way related to any claim covered by this Arbitration Agreement.
           Claims Not Covered by this Arbitration Agreement
           Claims Executive may have for workers’ compensation or unemployment compensation benefits are not covered by this Arbitration Agreement.
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            Also not covered are claims by the Company for injunctive and/or
other equitable relief for unfair competition and/or the use and/or unauthorized disclosure of trade secrets or confidential information, as to which Executive understands and agrees that the Company may seek and obtain relief from a court of
competent jurisdiction.
           Required Notice of All Claims and Statutes of Limitations
           The Company and Executive agree that the aggrieved party must give written notice of any claim to the other party within one (1) year of the date the aggrieved party
first has knowledge of the event giving rise to the claim; otherwise the claim shall be void and deemed waived even if there is a federal or state statute of limitations which would have given more time to pursue the claim.
           Written notice to the Company, or its officers, directors, employees or agents, shall be sent to its General Counsel at the Company’s then-current
address.  Executive will be given written notice at the last address recorded in Executive’s personnel file.
           The written notice
shall identify and describe the nature of all claims asserted and the facts upon which such claims are based.  The notice shall be sent to the other party by certified or registered mail, return receipt requested.
           Discovery
           Each party shall have the right to
take the deposition of one individual and any expert witness designated by another party.  Each party also shall have the right to propound requests for production of documents to any party.  The subpoena right specified below shall be
applicable to discovery pursuant to this paragraph.  Additional discovery may be had only where the Arbitrator selected pursuant to this Agreement so orders, upon a showing of substantial need.
           Designation of Witnesses
           At least thirty (30)
days before the arbitration, the parties must exchange lists of witnesses, including any expert, and copies of all exhibits intended to be used at the arbitration.
           Subpoenas
           Each party shall have the right to
subpoena witnesses and documents for the arbitration.
           Arbitration Procedures
           The Company and Executive agree that, except as provided in this Arbitration Agreement, any arbitration shall be in accordance with the then-current Model Employment
Arbitration Procedures of the American Arbitration Association (“AAA”) before an Arbitrator who is licensed to practice law in the Commonwealth of Virginia (“Arbitrator”).  The arbitration shall take place at the
Company’s headquarters in Richmond, Virginia.
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            The Arbitrator shall be selected as follows.  The AAA shall
give each party a list of eleven (11) arbitrators drawn from its panel of labor-management dispute arbitrators.  Each party may strike all names on the list it deems unacceptable.  If only one common name remains on the lists of all
parties, that individual shall be designated as the Arbitrator.  If more than one common name remains on the lists of all parties, the parties shall strike names alternately until only one remains.  The party who did not initiate the claim
shall strike first.  If no common name remains on the lists of all parties, the AAA shall furnish an additional list or lists until the Arbitrator is selected.
           The Arbitrator shall apply the substantive law (and the law of remedies, if applicable) of the state in which the claim arose, or federal law, or both, as applicable
to the claim(s) asserted.  The Federal Rules of Evidence shall apply.  The Arbitrator, and not any federal, state, or local court or agency, shall have exclusive authority to resolve any dispute relating to the interpretation,
applicability, enforceability or formation of this Agreement, including but not limited to any claim that all or any part of this Agreement is void or voidable.  The arbitration shall be final and binding upon the parties.
           The Arbitrator shall have jurisdiction to hear and rule on pre-hearing disputes and is authorized to hold pre-hearing conferences by telephone or in person
as the Arbitrator deems necessary.  The Arbitrator shall have the authority to entertain a motion to dismiss and/or a motion for summary judgment by any party and shall apply the standards governing such motions under the Federal Rules of Civil
Procedure.
           Either party, at its expense, may arrange for and pay the cost of a court reporter to provide a stenographic record of
proceedings.
           Either party, upon request at the close of hearing, shall be given leave to file a post-hearing brief.  The time for
filing such a brief shall be set by the Arbitrator.
           The Arbitrator shall render an award and opinion in the form typically rendered in
labor arbitrations.
           Arbitration Fees and Costs
           The Company and Executive shall equally share the fees and costs of the Arbitrator.  Each party will deposit funds or post other appropriate security for its
share of the Arbitrator’s fee, in an amount and manner determined by the Arbitrator, 10 days before the first day of hearing.  Each party shall pay for its own costs and attorneys’ fees, if any.  However, if any party prevails on
a statutory claim which affords the prevailing party attorneys’ fees, or if there is a written agreement providing for fees, the Arbitrator may award reasonable fees to the prevailing party.
           Judicial Review
           Either party may bring an
action in any court of competent jurisdiction to compel arbitration under this Agreement and to enforce an arbitration award.  A party opposing
 82

  
  enforcement of an award may not do so in an enforcement proceeding, but must bring a separate action in any court of
competent jurisdiction to set aside the award, where the standard of review will be the same as that applied by an appellate court reviewing a decision of a trial court sitting without a jury.
           Interstate Commerce
           Executive understands and
agrees that the Company is engaged in transactions involving interstate commerce and that Executive’s employment involves such commerce.
           Requirements for Modification or Revocation
           This Arbitration Agreement shall survive the termination of Executive’s employment.  It can only be revoked or modified by a writing signed by the parties
which specifically states an intent to revoke or modify this Arbitration Agreement.
           Sole and Entire Agreement
           This is the complete agreement of the parties on the subject of arbitration of disputes, except for any arbitration agreement in connection with any pension
or benefit plan.  This Agreement supersedes any prior or contemporaneous oral or written understanding on the subject.  No party is relying on any representations, oral or written, on the subject of the effect, enforceability or meaning of
this Arbitration Agreement, except as specifically set forth in this Arbitration Agreement.
           Construction
           If any provision of this Arbitration Agreement is adjudged to be void or otherwise unenforceable, in whole or in part, such adjudication shall not affect the
validity of the remainder of this Arbitration Agreement.
           Consideration
           The promises by the Company and by Executive to arbitrate differences, rather than litigate them before courts or other bodies, provide consideration for each
other.
           Employment Agreement
           This Arbitration Agreement is not, and shall not be construed to create, any contract of employment, express or implied.
           Voluntary Agreement
           EXECUTIVE ACKNOWLEDGES THAT
EXECUTIVE HAS CAREFULLY READ THIS ARBITRATION AGREEMENT, THAT EXECUTIVE UNDERSTANDS ITS TERMS, THAT ALL UNDERSTANDINGS AND AGREEMENTS BETWEEN THE COMPANY AND
 83

  
  EXECUTIVE RELATING TO THE SUBJECTS COVERED IN THIS ARBITRATION AGREEMENT ARE CONTAINED IN IT, AND THAT EXECUTIVE HAS ENTERED
INTO THIS ARBITRATION AGREEMENT VOLUNTARILY AND NOT IN RELIANCE ON ANY PROMISES OR REPRESENTATIONS BY THE COMPANY OTHER THAN THOSE CONTAINED IN THIS ARBITRATION AGREEMENT ITSELF.
           EXECUTIVE FURTHER ACKNOWLEDGES THAT EXECUTIVE HAS BEEN GIVEN THE OPPORTUNITY TO DISCUSS THIS ARBITRATION AGREEMENT WITH EXECUTIVE’S PRIVATE LEGAL COUNSEL AND HAS
AVAILED HIM/HERSELF OF THAT OPPORTUNITY TO THE EXTENT EXECUTIVE WISHES TO DO SO.
 84<PAGE>

                                                                   Exhibit 10.50

                                 DEED OF LEASE
                                      FOR
                                  OFFICE SPACE

                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
ARTICLE                                                                        PAGE
<S>                                                                            <C>
1.   DEFINITIONS ............................................................     1
2.   TERM ...................................................................     2
3.   TENANT IMPROVEMENTS ....................................................     3
4.   RENT ...................................................................     4
5.   ADDITIONAL RENT ........................................................     4
6.   USE ....................................................................     4
7.   CARE OF PREMISES .......................................................     5
8.   ALTERATIONS BY TENANT ..................................................     5
9.   EQUIPMENT ..............................................................     5
10.  OWNERSHIP AND REMOVAL OF PROPERTY ......................................     6
11.  LANDLORD'S ACCESS TO PREMISES ..........................................     6
12.  SERVICES AND UTILITIES .................................................     6
13.  RULES AND REGULATIONS ..................................................     7
14.  REPAIRS AND MAINTENANCE ................................................     7
15.  LIMITATION ON LANDLORD LIABILITY .......................................     8
16.  FIRE AND OTHER CASUALTY ................................................     8
17.  TENANT INSURANCE .......................................................     9
18.  CONDEMNATION ...........................................................    10
19.  DEFAULT ................................................................    11
20.  NO WAIVER ..............................................................    13
21.  HOLDING OVER ...........................................................    13
22.  SUBORDINATION ..........................................................    13
23.  ASSIGNMENT AND SUBLETTING ..............................................    14
24.  TRANSFER BY LANDLORD ...................................................    14
25.  INABILITY TO PERFORM ...................................................    15
26.  ESTOPPEL CERTIFICATES ..................................................    15
27.  COVENANT OF QUIET ENJOYMENT ............................................    15
28.  WAIVER OF JURY TRIAL ...................................................    15
29.  BROKERS ................................................................    15
30.  CERTAIN RIGHTS RESERVED BY LANDLORD ....................................    15
31.  NOTICES ................................................................    16
32.  MISCELLANEOUS PROVISIONS ...............................................    16
     A.  Benefit and Burden .................................................    16
     B.  Governing Law ......................................................    16
     C.  No Partnership .....................................................    16
     D.  Delegation by Landlord .............................................    16
     E.  Tenant Responsibility for Agents ...................................    17
     F.  Invalidity of Particular Provisions ................................    17
     G.  Counterparts .......................................................    17
     H.  Entire Agreement ...................................................    17
     I.  Amendments .........................................................    17
     J.  Mortgagee's Performance ............................................    17
     K.  Limitation on Interest .............................................    17
     L.  Remedies Cumulative ................................................    17
     M.  Annual Financial Statements ........................................    17
33.  LENDER APPROVAL ........................................................    17
34.  PARKING ................................................................    17
35.  SECURITY DEPOSIT .......................................................    18
36.  HAZARDOUS MATERIALS ....................................................    18
37.  NO RECORDATION .........................................................    18
38.  RENEWAL ................................................................    19
39.  EXPANSION ..............................................................    20
40.  FEES AND EXPENSES ......................................................    20
41.  NO REPRESENTATION BY LANDLORD ..........................................    20
42.  TERMINATION OF EXISTING LEASE ..........................................    21
43.  DE-AMORTIZATION OF THE TENANT ALLOWANCE ................................    21
     SIGNATURES .............................................................    21
</TABLE>

Exhibit A - Premises Plan
Exhibit B - Declaration of Acceptance
Exhibit C - Air-Conditioned Shell
Exhibit D - Rules and Regulations
Exhibit E - Specifications for Office Cleaning

<PAGE>

                                 DEED OF LEASE

     THIS DEED OF LEASE (the "Lease") is made and entered into this 24th day
of September, 2002, by and between TWIN TOWERS II ASSOCIATES LIMITED
PARTNERSHIP, a Virginia Limited Partnership ("Landlord") and MCG CAPITAL
CORPORATION, a Delaware Corporation ("Tenant").

     In consideration of the Rent hereinafter reserved and the agreements
hereinafter set forth, Landlord and Tenant mutually agree as follows:

1.   DEFINITIONS.

     Except as otherwise expressly provided or unless the context otherwise
requires, the following terms shall have the meanings assigned to them in this
Section:

     A. Alterations: Any improvements, alterations, fixed decorations or
modifications, structural or otherwise, to the Premises, the Building or the
Land, as defined below, including but not limited to the installation or
modification of carpeting, partitions, counters, doors, air conditioning ducts,
plumbing, piping, lighting fixtures, wiring, hardware, locks, ceilings and
window and wall coverings.

     B. Building: The building located at 1100 Wilson Boulevard in Arlington,
Virginia 22209, in which the Premises are located. Except as expressly indicated
otherwise, the term "Building" shall include all portions of said building,
including but not limited to the Premises, the Common Areas and the garage which
garage is shared with the garage located in the neighboring building known as
1000 Wilson Boulevard.

     C. Common Areas: Those areas of the Building and/or Land, as the case may
be, made available by Landlord for use by Tenant in common with the Landlord,
other tenants of the Building and the employees, agents and invitees of Landlord
and of such other tenants.

     D. Default Rate: That rate of interest which is two (2) percentage points
above the prime rate of interest per annum as published in the "Money Rates"
section of The Wall Street Journal or, if The Wall Street Journal ceases to
exist, a similar national financial news publication.

     E. Fiscal Year: Each consecutive calendar year during the Term of this
Lease commencing on January 1, 2003.

     F. Ground Leases: All ground and other underlying leases from which
Landlord's title to the Land and/or the Building is or may in the future be
derived. "Ground Lessors" shall denote those persons and entities holding such
ground or underlying leases.

     G. Holidays: New Year's Day, President's Day, Martin Luther King, Jr.'s
Birthday, Memorial Day, Independence Day, Labor Day, Columbus Day, Veteran's
Day, Thanksgiving Day, Christmas Day and any other holidays designated by an
executive order of the President of the United States or by Act of Congress.

     H. Land: The real estate that supports the Building, and all associated
easements.

     I. Lease Commencement Date: The date this Lease commences, as determined
pursuant to Subsection 2.A. below.

     J. Lease Year: That period of twelve (12) consecutive calendar months that
commences on the first day of the calendar month in which the Lease Commencement
Date occurs, and each consecutive twelve (12) month period thereafter. The
earliest such twelve (12) month period shall be referred to as the "first Lease
Year," and each of the following Lease Years shall similarly be numbered for
identification purposes.

     K. Mortgages: All mortgages, deeds of trust and similar security
instruments which may now or in the future encumber or otherwise affect the
Building or the Land, including mortgages related to both construction and
permanent financing. "Mortgagees" shall denote those persons and entities
holding such mortgages, deeds of trust and similar security instruments.

     L. Operating Expenses: All expenses incurred in connection with the
operation of the Building and the Land.

     M. Premises: 30,008 square feet of rentable area consisting of the entire
thirty-first (31/st/) floor comprised of 19,787 rentable square feet and a
portion of the thirtieth (30/th/) floor comprised of 10,221 rentable square feet
of the Building, as shown on the floor plan attached hereto as Exhibit A.
However, the area and plan of the Premises may change in the event of the
exercise of any option to expand the Premises set forth in this Lease. The
rentable area of the Premises has been determined in accordance with the
B.O.M.A. Standard Method of Measurement ANSI 265.1-1996.

     N. Premises' Standard Electrical Capacity: The electrical capacity
sufficient to support Tenant's balanced consumption of five (5) watts per square
foot of rentable area which shall not include Building Standard lighting and the
Base Building's HVAC System.

                                       1

<PAGE>

     O. Real Estate Tax Expenses: All present and future taxes, assessments,
vault rentals, business district or area taxes and other charges and related
expenses, if any, general, special, ordinary or extraordinary, foreseen and
unforeseen, or otherwise, levied or assessed upon or with respect to the
ownership of and/or all other taxable interests in the Building and the Land
that are imposed by any public or quasi-public authority, and personal property
taxes levied or assessed on Landlord's personal property used in connection with
the management, operation, maintenance, replacement, repair, cleaning, safety
and administration of the Building and the Land.

     P. Rent: All Base Rent and Additional Rent.

        (1)  Base Rent: The amount payable by Tenant pursuant to Subsection
             4.A. below.

        (2)  Additional Rent: All sums of money payable by Tenant pursuant to
             this Lease other than Base Rent.

     Q. Tenant's Personal Property: All equipment, improvements, furnishings
and/or other property now or hereafter installed or placed in or on the Premises
by and at the sole expense of Tenant or with Tenant's permission (other than any
property of Landlord), with respect to which Tenant has not been granted any
credit or allowance by Landlord, and which: (i) is removable without damage to
the Premises, the Building or the Land, and (ii) is not a replacement of any
property of Landlord, whether such replacement is made at Tenant's expense or
otherwise. Notwithstanding any other provision of this Lease, Tenant's Personal
Property shall not include any improvements or other property installed or
placed in or on the Premises as part of Landlord's Work, whether or not any such
property was purchased or installed at Tenant's expense, or any of Tenant's
confidential and proprietary property regarding and/or belonging to third
parties such as financial records and customer files, and Landlord hereby
disclaims any right, title or interest in or to Tenant's confidential and
proprietary property.

     R. Unavoidable Delay: Any delays due to strikes, labor disputes, shortages
of material, labor or energy, acts of God, governmental restrictions, enemy
action, civil commotion, fire, unavoidable casualty or any other causes beyond
the control of Landlord or Tenant.

     S. Delivery of Premises: Landlord shall deliver the Premises as an
Air-Conditioned Shell (as defined below) on or before October 1, 2002 (the
"Possession Date"). The Tenant will have the right to use the Premises and all
of the common areas of the Building in accordance with the terms of this Lease
from and after the date of such delivery in connection with the operation of its
business and for all other purposes permitted hereunder. In the event that
Landlord shall fail to deliver the Premises to Tenant as required on the
Possession Date or, due to Landlord Delay (as hereinafter defined) cause delay
in the completion of Tenant's Work (as hereinafter defined), the Commencement
Date hereunder shall be extended by one (1) day for each day of delay by
Landlord in delivering the Premises to Tenant as herein agreed or for each day
that a Landlord Delay causes delay in the construction of Tenant's Work;
provided however, that if the aggregate of all Landlord Delays exceeds ten (10)
days, Tenant shall receive one (1) day of Base Rent abatement for each day of
Landlord Delay in excess of ten (10) days. In the event that Landlord shall fail
to deliver the Premises to Tenant by December 31, 2002, Tenant shall have the
right to terminate this Lease by notice to Landlord given prior to delivery of
possession, whereupon the Landlord shall refund all amounts of Base Rent paid by
Tenant hereunder and this Lease shall terminate and be of no further force and
effect between the parties. The Air-Conditioned Shell shall be provided by
Landlord, at Landlord's sole cost, in accordance with Exhibit C. It is agreed
that portions of the Air-Conditioned Shell will be completed during construction
of Tenant's Work, however, Landlord's completion of said Air-Conditioned Shell
shall in no way interfere with Tenant's ability to complete said Initial
Alterations.

     T. Landlord Delay: "Landlord Delay" shall mean the period of time by which
Landlord actually and directly delays the completion of Tenant's Work beyond the
Lease Commencement Date by reason of delay in the giving of authorizations or
approvals by Landlord beyond the time periods specified herein or the failure of
the Building to comply with all applicable laws. In the event of any Landlord
Delay, the Lease Commencement Date shall be delayed for one (1) day for each day
of Landlord Delay, provided that if the aggregate of all Landlord Delays exceeds
ten (10) days, Tenant shall receive one (1) day of Base Rent abatement for each
day of Landlord Daley in excess of ten (10) days.

2.   TERM.

     A. Term of Lease: The term of this Lease (the "Term") shall commence on a
date (the "Lease Commencement Date"), as defined below, and shall terminate on
February 28, 2013, or such earlier date on which this Lease is terminated
pursuant to the provisions hereof (the "Lease Expiration Date"). The Lease
Commencement Date shall be the earlier of (i) February 17, 2003 or (ii) the date
Tenant commences occupancy of any part of the Premises for the purposes of
conducting business. Landlord hereby leases the Premises to Tenant and Tenant
hereby leases the Premises from Landlord for the Term.

      B. Declarations: Upon the request of Landlord at any time during the Term,
Tenant promptly will execute a declaration in the form attached hereto as
Exhibit B.

      C. Effective Date: The rights and obligations set forth in this Lease,
except for the obligation to pay Rent and as otherwise specifically provided
herein to the contrary, shall become effective on the date of final execution of
this Lease.

                                       2

<PAGE>

3.    TENANT IMPROVEMENTS - TENANT'S WORK.

      A. Landlord, at its sole cost and expense, will deliver the Premises to
Tenant on or before October 1, 2002 as an Air-Conditioned Shell as defined in
Exhibit "C" attached hereto and made a part hereof.

      B. Tenant will accept the Premises in Air-Conditioned Shell condition and
Landlord shall have no obligation to make any other improvements of any kind or
nature whatsoever to the Premises. Tenant shall improve the Premises in
accordance with Tenant's final plans ("Tenant's Plans"), which plans shall be
subject to Landlord's prior written approval which approval shall not be
unreasonably withheld, conditioned or delayed (such improvements being
hereinafter referred to as "Tenant's Work"). Landlord shall notify Tenant in
writing within ten (10) business days of Landlord's receipt of Tenant's Plans of
its approval or its disapproval. In the event Landlord does not approve Tenant's
Plans and Tenant resubmits a revised set of Tenant's Plans, Landlord shall have
five (5) business days from Landlord's receipt of the same to provide Tenant
with its approval or disapproval. Landlord's approval of Tenant's Plans shall
not be unreasonably withheld, conditioned or delayed. Landlord shall approve
Tenant's Plans so long as Tenant's Plans (i) do not adversely affect the
structure of the Building; (ii) do not adversely affect the Building systems or
cause damage to the Building systems; (iii) are not in compliance with
applicable codes; and (iv) do not adversely affect the exterior appearance of
the Building. Landlord's approval of Tenant's Plans shall constitute approval of
Tenant's design concept only and shall in no event be deemed a representation or
warranty by Landlord as to whether Tenant's Plans comply with any and all legal
requirements applicable to Tenant's Plans and Tenant's Work. Tenant or its
designee shall obtain all permits, certificates and other governmental approvals
from all governmental entities having jurisdiction which are necessary for the
prosecution and completion of Tenant's Work. Any improvements or modifications
which Tenant wishes to make to the Premises after completion of Tenant's Work
shall be deemed to be Alterations and shall be subject to the provisions of
Section 8 of this Lease.

      Prior to commencing Tenant's Work, Tenant shall provide to Landlord the
name and address of each contractor and subcontractor (collectively
"Contractor") which Tenant will employ to perform Tenant's Work, the use of
which Contractor shall be subject to Landlord's prior written approval, which
shall not be unreasonably withheld, conditioned or delayed if (i) the Contractor
is properly licensed, and (ii) Landlord has had no prior experience with such
contractor which was unsatisfactory to Landlord. Landlord hereby approves
Tenant's use of any of the following entities as Contractor; James G. Davis
Construction; HITT Construction; Rand Construction; Dietz and DPR Construction.
Landlord's approval of the foregoing list of entities as Contractor does not
preclude Tenant from submitting the names of other entities to Landlord. Prior
to commencement of any of Tenant's Work, Tenant shall deliver to Landlord, with
respect to each Contractor which Tenant will employ to perform any of Tenant's
Work, a certificate of insurance from each such Contractor specifying Landlord
as a named insured (in care of Westfield Realty, Inc. and referring to the
Building by its address) and evidencing that each such Contractor has obtained
the following insurance coverage:

       1.   comprehensive commercial general liability insurance, including
            contractor's liability coverage, contractual liability coverage,
            completed operations coverage, broad form property damage
            endorsement and contractor's protective liability coverage, to
            afford protection, with limits for each occurrence, of not less than
            Two Million Dollars ($2,000,000) with respect to bodily injury or
            death and One Million Dollars ($1,000,000) with respect to property
            damage or equivalent terms, conditions and limits under a commercial
            liability form policy;

       2.   comprehensive automobile liability insurance with limits for each
            occurrence of not less than One Million Dollars ($1,000,000) with
            respect to bodily injury or death and One Million Dollars
            ($1,000,000) with respect to property damage; and

       3.   worker's compensation or similar insurance in form and amounts
            required by law. Said Contractors shall also comply with other
            reasonable industry requirements of Landlord.

     As an inducement to Tenant, Landlord shall provide to Tenant an allowance
(the "Tenant Allowance") of One Million Two Hundred Thousand Three Hundred
Twenty Dollars ($1,200,320.00) (calculated on the basis of $40.00 per rentable
square foot multiplied by the number of rentable square feet contained in the
Premises) to offset expenses (including hard and soft costs) incurred by Tenant
in performing Tenant's Work. Provided that no uncured Default by Tenant shall
have occurred or be continuing, Landlord shall remit payment of the Tenant
Allowance within ten (10) days following Landlord's receipt from Tenant of (i)
invoices reasonably evidencing work or services performed with respect to
Tenant's Work; (ii) receipted bills or other evidence that the aforesaid
invoices have been paid in full; and (iii) waivers or releases of liens from
each of Tenant's Contractors in connection with the work performed or materials
supplied as evidenced by the aforesaid invoices. Notwithstanding the foregoing,
at the request of Tenant, Landlord will pay directly to a Contractor invoices
approved by Tenant, provided the Contractor delivers an appropriate waiver or
release of lien. Any costs of performing Tenant's Work which are in excess of
the Tenant Allowance shall be borne by Tenant at its sole cost and expense and
Tenant shall provide release of liens for said work. In the event that Tenant
does not use all of the Tenant Allowance in the performance of Tenant's Work,
the remainder of the Tenant Allowance shall be applied toward the costs
associated with Tenant's network cabling, security system or audio visual system
or future Alterations or applied to the Rent

                                       3

<PAGE>

installment(s) first due under this Lease. Landlord shall assist Tenant in the
coordination and review of Tenant's Work and Landlord will not be entitled to a
fee or compensation of any type or nature for its review, coordination and
supervision of Tenant's Work.

     C. Certificate of Occupancy Use: Tenant will not at any time use or occupy
the Premises in violation of the certificate of occupancy issued for the
Premises or the Building of which the Premises form a part. Tenant will not use
or permit the Premises or any part thereof to be used for any disorderly,
unlawful or extra hazardous purpose and will not manufacture any commodity
therein. Tenant will not use or permit the Premises to be used for any purposes
that unreasonably interfere with the use and enjoyment by other tenants of the
Building or which in Landlord's reasonable opinion, impair the reputation or
character of the Building. Tenant shall refrain from and discontinue such use
upon receipt of written notice from Landlord no later than three (3) days after
receipt thereof, which written notice shall describe in reasonable detail the
nature of the violation. Tenant shall apply for the Certificate of Occupancy
with Arlington County after occupying the Premises.

4.   RENT.

     From and after the Lease Commencement Date, Tenant shall pay to Landlord
such Base Rent and Additional Rent as is set forth in this Section 4 and in
Section 5 below.

     A. Base Rent: Base Rent shall equal One Million One Hundred Two Thousand
Seven Hundred Ninety Four Dollars ($1,102,794.00) per annum. Effective on the
first annual anniversary date of the Lease Commencement Date and each annual
anniversary date thereafter, the Base Rent shall be increased by three and one
half percent (3.5%) over the prior year's Base Rent. Tenant shall pay Base Rent
to Landlord in equal monthly installments ("Monthly Base Rent") in advance on
the first day of each calendar month during the Term, without notice. If the
Lease Commencement Date occurs on a date other than the first day of a calendar
month, Tenant shall receive a credit equal to the Monthly Base Rent multiplied
by the number of days in said calendar month prior to the Lease Commencement
Date and divided by the number of days in such month, which credit shall be
applied toward the installment of Monthly Base Rent next due hereunder. Tenant
shall pay the first monthly Base Rent upon the execution of this Lease.

     B. Payment: All Base Rent and Additional Rent due and payable to Landlord
under this Lease shall be made payable to Twin Towers II Associates Limited
Partnership and delivered in care of Westfield Realty, Inc., at the address set
forth in Section 31; provided, however, that in the event that Tenant shall fail
to pay an installment of Monthly Rent on or before the second (2nd) business day
following the due date more than twice in any Lease Year, at Landlord's sole
option, following at least thirty (30) days written notice to Tenant, Tenant
shall thereafter make all payments of Base Rent due and payable to Landlord
under this Lease by means of electronic transfers of funds from Tenant's
financial institution to Landlord's designated financial institution. Payments
of Rent (other than in cash), if initially dishonored, shall not be considered
rendered until ultimately honored as cash by Landlord's depository. Except as
expressly set forth otherwise in this Lease, Tenant will pay all Rent to
Landlord without demand, deduction, set-off or counter-claim.

     C. Late Fee: If Tenant fails to make any payment of Rent on or before the
fifth (5th) day after the due date, on more than two (2) occasions during the
Term, then Tenant also shall pay to Landlord a late fee equal to two percent
(2%) of the amount that is past due for each month or part thereof until such
Rent is fully paid. Said late fee shall be deemed reimbursement to Landlord for
its costs of carrying and processing Tenant's delinquent account. Acceptance by
Landlord of said late fee shall not waive or release any other rights or
remedies to which Landlord may be entitled on account of such late payment.

5.   ADDITIONAL RENT.

     All sums of money payable by Tenant pursuant to this Lease other than Base
Rent shall constitute Additional Rent. Additional Rent shall be payable by
Tenant to Landlord as required by the provisions of this Lease. Except as
provided for in this Lease, Landlord and Tenant agree and acknowledge that this
is a full service lease and Tenant shall not be responsible for any Operating
Expenses or any Real Estate Taxes related to the Building or the Land.

6.   USE.

     A. Permitted Use: Tenant shall use and occupy the Premises solely for
general office use, for office and administrative activities directly related
thereto and for no other purpose.

     B. Legal and Other Restrictions of Tenant's Use: In its use of the
Premises, Tenant shall comply with all present and future laws, regulations
(including but not limited to fire and zoning regulations) and ordinances of all
other public and quasi-public agencies having jurisdiction over the Land or the
Building. Tenant shall not use the Land, the Building or use or occupy the
Premises for any unlawful, disorderly or hazardous purposes or in a manner which
will negatively affect the rights of Landlord, other tenants or their invitees.

                                       4

<PAGE>

7.   CARE OF PREMISES.

     Tenant shall at its expense keep the Premises (including all improvements,
fixtures and other property located therein but not including Building systems
or any structural components of the Building) in a neat and clean condition and
in good order and repair, and will suffer no waste or injury thereto. Tenant
shall surrender the Premises at the end of the Term in substantially as good
order and condition as they were in on the Lease Commencement Date, ordinary
wear and tear excepted and Tenant shall not be obligated to remove the existing
internal stairwell located within the Premises serving the thirtieth (30/th/)
and thirty-first (31/st/) floors.

8.   ALTERATIONS BY TENANT.

     A. Tenant shall make no Alterations in or to the Premises without the prior
written consent of Landlord which consent shall not be unreasonably withheld,
conditioned or delayed, except that such consent may be subject to a requirement
of removal pursuant to Section 10 provided; however, Landlord's consent shall
not be required when Tenant performs cosmetic Alterations that are decorative in
nature. Landlord's consent shall not be unreasonably withheld for nonstructural
interior Alterations to the Premises that do not adversely affect the Building.
Notwithstanding anything to the contrary, in no event shall Tenant be required
to remove any of Tenant's Alterations and Tenant's Work which shall be deemed to
be typical office improvements, including but not limited to, partitions and
doors. All Alterations that Tenant is permitted to make to the Premises shall
(1) not harm the structural or the electrical, plumbing, heating or
air-conditioning facilities of the Premises or the Building; (2) comply with all
applicable legal requirements including the American with Disabilities Act and
other laws relating to the use of the Premises by persons with disabilities; (3)
become the property of Landlord, and shall be surrendered with the Premises at
the Lease Expiration Date, to the extent that such Alterations are of a
permanent nature or cannot be removed without structural damage to the Premises
or the Building; and (4) be performed, at Tenant's sole cost and expense, in a
good and workmanlike manner by contractors approved by Landlord which approval
shall not be unreasonably withheld, conditioned or delayed, using materials of
first-class quality.

     B. Tenant shall not permit any materialmen's or mechanic's liens to be
filed against the Premises or the Building in connection with any item of
construction or repair performed by or at the request of Tenant. If any such
lien is filed, Tenant shall, within thirty (30) days after notice, discharge the
lien of record or, if Tenant elects to contest the lien by appropriate
proceedings, bond off the lien and prosecute the proceedings. If Tenant fails to
discharge or bond off the lien, Landlord may do so and any monies expended by
Landlord in doing so, including reasonable attorneys' fees and legal expenses,
shall be reimbursed by Tenant promptly upon Tenant's receipt of a reasonably
detailed statement therefor. Notice is hereby given that Landlord shall not be
liable for any labor or materials furnished to Tenant upon credit, and that no
mechanics or materialmen's lien for any such labor or materials shall attach to
or affect the reversion or other estate or interest of Landlord in and to the
Premises or the Building.

9.   EQUIPMENT.

     A. Permitted Equipment: Tenant shall not install or operate in the Premises
any equipment or other machinery that, in the aggregate, will cause Tenant to
use more than the Premises' Standard Electrical Capacity, without: (i) obtaining
the prior written consent of Landlord, who may condition its consent which shall
not be unreasonably withheld or delayed, upon the payment by Tenant of
Additional Rent for additional consumption of utilities, additional wiring or
other expenses directly resulting therefrom, (ii) securing all necessary permits
from governmental authorities and utility companies and furnishing copies
thereof to Landlord, and (iii) complying with all other reasonable requirements
reasonably imposed by Landlord. Prior to the Lease Commencement Date, Tenant
shall provide Landlord with a list of all equipment that Tenant intends to
install or operate in the Premises which operate on more than one hundred twenty
(120) volts (said 120 volt threshold shall not include Tenant's Building
standard lighting), and Tenant shall provide Landlord with an updated list of
such equipment prior to the installation or use of any additional equipment
which operates on more than one hundred twenty (120) volts. Tenant shall not
install any equipment or machinery which may necessitate any replacements or
additions to or material changes in the use of water, heating, plumbing, air
conditioning or electrical systems of the Building without obtaining the prior
written consent of Landlord, who may withhold its consent in its absolute
discretion.

     B. Payment For Excess Utility Usage: If at any time during the Term,
Tenant's connected electrical load from its use of equipment and fixtures
(including incandescent lighting and power), as reasonably estimated by
Landlord, exceeds the Premises' Standard Electrical Capacity, then Landlord may,
at its option cause a survey to be made by an independent electrical engineer or
consulting firm to determine the amount of electricity consumed by Tenant beyond
the Premises' Standard Electrical Capacity. In the event such survey finds that
Tenant's connected load exceeds the Premises' Standard Electrical Capacity,
Landlord, at its option, may install separate electrical meter(s) for the
Premises and also install additional transformers, distribution panels, wiring
and other applicable equipment. Tenant shall reimburse Landlord for the cost of
the survey and for Landlord's direct cost of the installation of said meter(s),
transformers, distribution panels, wiring and other applicable equipment, and
shall pay as Additional Rent the cost of any electricity in excess of an average
of the Premises Standard Electrical Capacity, at the rate charged by the utility
company providing such electricity within fifteen (15) business days after
receipt of any bill therefor from Landlord.

                                       5

<PAGE>

     C. Noise; Vibration; Floor Load: Business machines and equipment belonging
to Tenant, which cause noise or vibration that may be transmitted to any part of
the Building to such a degree as to be objectionable to Landlord or to any
tenant of the Building, shall be installed and maintained by Tenant at Tenant's
expense on devices that sufficiently reduce the objectionable noise and
vibration. Tenant shall not place any load upon the floor of the Premises which
exceeds 80 pounds per square foot for live load and 20 pounds per square foot
for dead load.

10.  OWNERSHIP AND REMOVAL OF PROPERTY.

     A. Landlord's Property: Any Alterations and other improvements and any
equipment, machinery, furnishings and other property, installed or located in
the Premises, the Building or the Land by or on behalf of Landlord or Tenant,
except for Tenant's Personal Property: (i) shall immediately become the property
of Landlord, and (ii) shall be surrendered to Landlord with the Premises as a
part thereof at the end of the Term; provided, however, that if Landlord
requests Tenant to remove any Alterations installed by or on behalf of Tenant in
accordance with Section 8A, then in that event, Tenant shall cause the same to
be removed at Tenant's expense on or before the Lease Expiration Date, or shall
reimburse Landlord for the reasonable out-of-pocket cost of such removal, as
elected by Landlord (unless Landlord expressly waives in writing the right to
require such removal at the time Landlord give its consent to the making of such
Alterations).

     B. Removal of Property At End of Term: Tenant shall remove all of Tenant's
Personal Property from the Building and the Land on or before the Termination
Date. Any personal property belonging to Tenant or to any other person or entity
which is left in the Building or on the Land after the date this Lease is
terminated for any reason shall be deemed to have been abandoned. In such event,
Landlord shall have the right to store such property at Tenant's sole cost
and/or to dispose of it in whatever manner Landlord considers appropriate,
without waiving its right to claim from Tenant all expenses and damages directly
caused by Tenant's failure to remove such property, and Tenant and any other
person or entity shall have no right to compensation from or any other claim
against Landlord as a result.

11.  LANDLORD'S ACCESS TO PREMISES.

     Tenant shall permit Landlord to erect, use and maintain, pipes and conduits
in and through the Premises, provided such does not impair Tenant's ability to
conduct its business in the normal course, reduce the usable square footage of
the Premises, or materially, adversely affect the functionality or aesthetics of
the Premises. Landlord or Landlord's agents, shall have the right to enter the
Premises at all reasonable times after no less than one (1) business day's prior
notice, except in the event of an emergency, to examine the same, and to show
them to prospective purchasers and mortgagees, to prospective lessees (only in
the last twelve (12) months of the term) and to make such repairs, alterations,
improvements or additions for which Landlord is responsible as Landlord may
reasonably deem necessary or desirable, and Landlord shall be allowed to take
all material into and upon said Premises that may be required therefor without
the same constituting an eviction of Tenant in whole or in part and the Rent
reserved shall in no way abate while said decorations, repairs, alterations,
improvements, or additions are being made by Landlord, by reason of loss or
interruption of business of Tenant, or otherwise. Landlord shall minimize
interference with Tenant's business and comply with Tenant's reasonable
instructions and security requirements. If Tenant shall not be personally
present to open and permit an entry into said Premises, at any time, for an
emergency or for cleaning, Landlord or Landlord's agents may enter the same by a
master key without rendering Landlord or such agents liable therefor (if during
such entry Landlord or Landlord's agents shall accord reasonable care to
Tenant's Personal Property), and without in any manner affecting the obligations
and covenants of this Lease; provided, however, that if Tenant is not present
during the occurrence of the emergency entry, Landlord shall notify Tenant
thereafter of any entry of Landlord or Landlord's agents into the Premises for
emergency purposes. Nothing herein contained, however, shall be deemed or
construed to impose upon Landlord any obligation, responsibility or liability
whatsoever, for the care, supervision or repair, of the Building or any part
thereof, other than as herein provided. In the event Landlord enters the
Premises for any reason set forth in this Section, Landlord shall repair and
restore any damage resulting from Landlord's entry.

12.  SERVICES AND UTILITIES.

     A. Services Provided: Landlord shall provide the following to Tenant,
without additional charge, except as otherwise provided herein:

        (1)  Subject to Unavoidable Delay, elevator service for common use,
subject to call at all times, including Sundays and Holidays, which elevator
service during business hours shall consist of no less than two (2) elevators.

        (2)  Central heating and air  conditioning  from 7:00 a.m. until 7:00
p.m. on weekdays and from 9:00 a.m. until 1:00 p.m. on Saturdays, exclusive of
Holidays, during the seasons of the year and within the temperature ranges
usually furnished in comparable office buildings in the Washington, D.C.
metropolitan area. Landlord shall provide heat and air conditioning at other
times at Tenant's expense, provided that Tenant gives Landlord reasonable notice
of the same. Landlord shall charge Tenant for

                                       6

<PAGE>

such after-hour service at Landlord's actual cost including Landlord's
reasonable overhead for said after hour HVAC usage which costs are currently
$25.00 per hour per zone of each floor. Each floor consists of two (2) zones.

        (3) Cleaning and char services in Landlord's standard manner in
accordance with Exhibit E, attached hereto.

        (4) Electrical facilities to furnish electricity up to the Premises'
Standard Electrical Capacity.

        (5) Rest room facilities which shall include cold and hot water.

        (6) Routine maintenance, painting and electrical lighting service for
all Common Areas of the Building in such manner as is consistent with community
standards for first class office space in Rosslyn, Virginia.

        (7) Reasonable access to the Premises at all times, subject to such
reasonable security procedures, restrictions and other regulations as Landlord
may promulgate.

        (8) Landlord shall provide and maintain at all times, without cost to
Tenant, an electronic security system for the Building, the elevators serving
the Premises and the Premises consistent with the highest standards for
first-class office buildings in Rosslyn, Virginia. Landlord shall provide a
reasonable amount of access cards to Tenant at no cost to Tenant which shall
include one (1) access card for each employee, officer and director of Tenant.
In addition, Tenant shall have the right to tie-in to the Building systems for
additional security within the Premises.

     B. Failure to Provide Services: Except as resulting from the negligence,
failure to act, or willful misconduct of Landlord or Landlord's agents, Landlord
shall have no responsibility or liability for failure to supply heat and/or
air-conditioning, elevator, plumbing and electric service, during the period
required for repairs, alterations, replacements, or improvements or when
prevented from so doing by Unavoidable Delay, or by laws, orders or regulations
of any Federal, State or Municipal Authority, provided, if the Premises or any
part becomes untenantable for the normal conduct of Tenant's business or not
accessible for Tenant's purposes for a continuous period of four (4) business
days as a result of any such service or access not being provided, Tenant shall
be entitled to a proportionate abatement of Base Rent for the period of time and
to the extent to which the Premises are untenantable for the normal conduct of
Tenant's business or not accessible; provided, however, Tenant does not in fact
use the same for its regular business operations. For purposes hereof, business
days are Monday through Friday, excluding Holidays.

     C. Conservation: Tenant hereby agrees to comply with all energy
conservation procedures, controls and requirements instituted by Landlord
pursuant to any government regulations or official governmental requirements,
including but not limited to controls on the permitted range of temperatures,
the volume of energy consumption or the hours of operation of the Building.
Institution by Landlord of such controls and requirements shall not entitle
Tenant to terminate this Lease or to an abatement of any Rent payable hereunder.

     D. Recycling: Without limiting the foregoing, Tenant covenants and agrees,
at its sole cost and expense, to comply with all present and future laws,
orders, and regulations of the Commonwealth of Virginia, federal, municipal, and
local governments, departments, commissions, agencies and boards to the extent
that they or this Lease impose on Tenant duties and responsibilities regarding
the collection, sorting, separation, and recycling of trash. Tenant shall pay
all reasonable costs, actual expenses, fines, penalties, or damages that may be
imposed on Landlord or Tenant as a result of by reason of Tenant's failure to
comply with the provisions of this Section 12, Subsection D, and, at Tenant's
sole cost and expense, shall indemnify, defend and hold Landlord harmless
(including reasonable legal fees and expenses) from and against any actions,
claims, and suits arising from such noncompliance by Tenant.

13.  RULES AND REGULATIONS.

     Tenant shall abide by and observe the rules and regulations attached hereto
as Exhibit D, within a reasonable time of Tenant's receipt of notice thereof,
and such other reasonable rules and regulations as may be made by Landlord from
time to time, provided that such rules and regulations shall not be materially
inconsistent with the provisions of this Lease. Nothing contained in this Lease
or in any rules and regulations shall be interpreted to impose upon Landlord any
obligations to enforce against any tenant its rules and regulations, or the
provisions of any lease with any other Tenant, and Landlord shall not be liable
to Tenant or any other entity for any violation of said rules, regulations or
lease provisions. Landlord will enforce the Rules & Regulations in a uniform and
unbiased manner.

14.  REPAIRS AND MAINTENANCE

     A. Tenant shall take good care of the Premises and the fixtures and
appurtenances therein and at its sole cost and expense make all repairs to
Tenant's Work and Alterations as and when needed to preserve them in good
working order and condition, reasonable wear and tear excepted. All damage or
injury to the Premises and to its fixtures and equipment or to the Building or
to its fixtures and equipment caused by Tenant moving property in or out of the
Building or by installation or removal of furniture, fixtures or other property,
or resulting from air-conditioning unit or systems installed on behalf of
Tenant, short circuits, flow or leakage of water or from any other cause of any
other kind or nature whatsoever shall to the extent same is due to carelessness,

                                       7

<PAGE>

omission, neglect, improper conduct or other cause of Tenant, its servants,
employees, agents, visitors or licensees shall be repaired, restored or replaced
by Landlord at the expense of Tenant and collectible as Additional Rent and
shall be paid by Tenant, to the extent not covered by Landlord's insurance (or
would have been covered by the insurance Landlord is required to maintain under
this Lease), within thirty (30) days after rendition of a bill or statement
therefor.

     B. Tenant shall not move any safe, heavy machinery, heavy equipment,
freight, bulky matter, or fixtures into or out of the Building without
Landlord's prior written consent, which shall not be unreasonably withheld,
conditioned, or delayed. Tenant shall not place a load upon any floor of the
Premises exceeding the floor load per square foot area which such floor was
designed to carry and which is allowed by law. Landlord reserves the right to
prescribe the weight and position of all safes and heavy equipment which must be
placed so as to distribute the weight. Business machines and mechanical
equipment shall be placed and maintained by Tenant at Tenant's expense in
settings sufficient in Landlord's reasonable judgment to absorb and prevent
vibration, noise and annoyance.

     C. Except as otherwise provided for in this Lease, there shall be no
allowance to Tenant for a diminution of rental value and no liability on the
part of Landlord by reason of inconvenience, annoyance or injury to business
arising from Landlord, Tenant or others making any repairs, alterations,
additions or improvements in or to any portion of the Building or Premises, or
in or to fixtures, appurtenances, or equipment thereof, and no liability upon
Landlord for failure of Landlord or others to make any repairs, alterations,
additions or improvements in or to any portion of the Building or of Premises,
or in or to the fixtures, appurtenances or equipment thereof.

     D. Except as otherwise provided for in this Lease, Landlord shall maintain
the roof, structural supports, foundation and exterior of the Building and all
Building standard plumbing, electrical, mechanical, heating, ventilating, and
base building air-conditioning systems and all elevators in a first-class
condition comparable with other first-class buildings in Rosslyn, Virginia, and
shall maintain Common Areas in the Building. Landlord also shall maintain all
parking garage areas, driveways, walkways, lawns and planted areas of the
Building. Throughout the Term, Landlord will maintain the Building, other than
the Premises, but including the elevator to the thirty-first (31st) floor and
the restrooms on the thirtieth (30th) and thirty-first (31st) floors, in
accordance with all applicable laws, orders and regulations of federal, state,
county and municipal authorities (including, without limitation, the Americans
with Disabilities Act) as enforced by Arlington County. Throughout the Term,
Landlord shall be responsible for latent defects in the Building including those
items outlined on Exhibit C except those improvements outlined in Tenant's Work
and Tenant's Alterations.

15.  LIMITATION ON LANDLORD LIABILITY.

     Notwithstanding any other provision of this Lease, it is expressly
understood and agreed that the total liability of Landlord arising out of or in
connection with this Lease, the relationship of Landlord and Tenant hereunder
and/or Tenant's use of the Premises, shall be limited to the estate of Landlord
in the Building and any proceeds from the sale thereof, all rental income
therefrom and all insurance proceeds received in connection therewith. No other
property or assets of Landlord or any partner or owner of Landlord shall be
subject to levy, execution, or other enforcement proceedings or other judicial
process for the satisfaction of any judgment or any other right or remedy of
Tenant arising out of or in connection with this Lease, the relationship of
Landlord and Tenant hereunder and/or Tenant's use of the Premises.

16.  FIRE AND OTHER CASUALTY.

     A. Other than Tenant's Work and Tenant's Alterations, if the Premises or
the Building shall be damaged by fire or other cause, the damages shall be
repaired by and at the expense of Landlord and the Base Rent until such repairs
shall be made shall be apportioned according to the degree to which Tenant's
full use and enjoyment of the Premises has been diminished. But if such partial
damage is due to the willful misconduct of Tenant or Tenant's employees or
agents, without prejudice to any other rights and remedies of Landlord, the
damages shall be repaired by Landlord but there shall be no apportionment or
abatement of Base Rent.

     B. If the Building shall be so damaged that Landlord shall decide to
demolish it or not to rebuild it, then in either such events Landlord may,
within ninety (90) days after such fire or other cause, give Tenant a notice in
writing of such decision, and thereupon the Term of this Lease shall expire by
lapse of time upon the thirtieth day after such notice is given, and Tenant
shall vacate the Premises and surrender the same to Landlord.

     C. If during the Term (i) more than forty percent (40%) of the rentable
area of the Premises, or any portion of the Premises or other portions of the
Building materially affecting Tenant's access to the Premises or use thereof,
shall be damaged by casualty and such damage cannot reasonably be expected to be
repaired within six (6) months from the date of the casualty (as reasonably
determined by Landlord and confirmed by an independent architect/engineer by
notice given to Tenant within thirty (30) days after the casualty), then either
Landlord or Tenant shall have the option to terminate this Lease by giving the
other written notice within thirty (30) days after the date of Landlord's notice
to Tenant which termination shall be effective ten (10) days after the receiving
party's receipt of the notice.

                                       8

<PAGE>

     D. If neither party elects or has the right to terminate this Lease as
provided in this Section 16, then Landlord shall restore the Premises and/or the
Building, to substantially its condition immediately prior to the casualty, such
restoration to be completed as promptly as reasonably possible. If Landlord
shall not complete restoration of the Premises and/or Building within six (6)
months from the date of casualty, then Tenant shall have the right to terminate
this Lease by giving Landlord thirty (30) days' prior written notice; provided
however, that if the restoration is not completed within six (6) months due to
Unavoidable Delay, Tenant shall not have the right to terminate this Lease
unless Landlord shall not complete the restoration within nine (9) months of the
date of casualty.

     E. If the casualty is in excess of Two Hundred Thousand Dollars
($200,000.00) and said casualty occurs during the last two (2) Lease Years of
the Term hereof, then, if Tenant does not elect to exercise any remaining
extension rights, Landlord shall have the option to terminate this Lease by
giving written notice within thirty (30) days after the date of the casualty.

     F. Without limiting Tenant's right to terminate under this Section 16, no
penalty shall accrue for reasonable delay which may arise for Unavoidable Delay.

17.  TENANT INSURANCE.

     A. Types of Insurance Required. Tenant, at its expense, shall obtain and
maintain in effect at all times during the Term an insurance policy or policies
providing the following coverage:

        (1)  A fire and extended coverage "all risk" insurance policy covering
all of Tenant's Work, all Tenant's Alterations then existing, and Tenant's
Personal Property within the Premises for not less than the full replacement
value thereof. If this Lease is not terminated pursuant to Section 16 above as a
consequence of a fire or other casualty, proceeds of such insurance shall be
used to the extent necessary to repair or replace the items so insured to the
extent and in such manner, if any, that Tenant elects to repair or replace such
items in Tenant's discretion. Any proceeds of such insurance which are not used
to repair or replace insured items shall be retained by Tenant.

        (2)  A commercial general liability policy on an occurrence basis, with
the following limits:

<TABLE>
               <S>                                                              <C>
               Each occurrence limited bodily injury and property damage        $1,000,000
               General aggregate                                                $2,000,000
               Product/completed operations aggregate                           $2,000,000
               Personal and advertising injury liability                        $1,000,000
               Fire damage legal liability                                      $   50,000
               Medical payments (any one person)                                $    5,000
</TABLE>

     Said insurance shall name Landlord, Westfield Realty, Inc. and any
Mortgagee identified by Landlord as an additional insured. The policy shall
protect Landlord, Westfield Realty, Inc., and the Mortgagee against any
liability for bodily injury, personal injury, death or property damage occurring
upon, in or about the Premises, the Building or the Land arising out of Tenant's
use and occupancy of the Premises. From time to time during the Term, Landlord
may require Tenant to increase said limits of said insurance, if reasonably
available to Tenant, to the limits of liability insurance then customarily
required of tenants leasing a comparable amount of square footage in other
comparable office buildings in the Rosslyn, Virginia area.

     B. Required Provisions of Policies. All insurance policies required to be
maintained by Tenant under this Lease must (i) be issued by insurance companies
with a Best's rating of at least A XII and qualified to do business in the
Commonwealth of Virginia; (ii) be written as primary policy coverage and not
contributing to or in excess of any coverage which Landlord or the Mortgagee may
carry; (iii) contain an express waiver of any right of subrogation by the
insurance company against Landlord, the Mortgagees and the Landlord's and the
Mortgagee's employees and agents; and (iv) provide that the policy may not be
canceled or permitted to lapse unless Landlord shall have received at least ten
(10) days prior written notice of cancellation or non-renewal. Tenant shall
deliver to Landlord certificates of insurance together with evidence of payments
of all applicable premiums of each such policy and any renewal policy, at least
ten (10) days before the Lease Commencement Date and at least thirty (30) days
before the renewal of any policies. Any insurance required of Tenant under this
Section may be carried under a blanket policy, provided that said policy shall
cover the amounts required herein.

     C. Effect of Tenant's Activities on Insurance. Tenant shall not conduct or
permit to be conducted any activity, or place any equipment in or about the
Land, the Building or the Premises which will increase the rate of, or make void
or voidable, any fire or other insurance maintained or required to be maintained
by Landlord or any Mortgagee on the Building, the Land or the property kept
thereon or therein, which will conflict with the provisions of any such
insurance policy or which will make it impracticable for Landlord to obtain
insurance covering any risks against which Landlord reasonably deems it
advisable to obtain insurance. In the event any increases in the rates of such
insurance are due solely to the Tenant's presence in the Building, to any
activity conducted or property installed or placed by Tenant on or about the
Land, the Building or the Premises or to Alterations installed by Tenant or at
Tenant's request, Tenant shall reimburse Landlord for the amount of such
increases within ten (10) business days of Tenant's receipt of a reasonably
detailed statement therefor. Statements by the applicable insurance company or
insurance rating bureau that such

                                       9

<PAGE>

increases are due to any activity, property or improvements of Tenant shall be
conclusive for the purposes of determining Tenant's liability hereunder. Tenant
may contest, at its cost and expense, any insurance premium increase. Landlord
agrees to cooperate with Tenant in good faith if Tenant chooses to contest the
findings regarding the reason for the premium increase, which cooperation shall
be without material costs or expense to Landlord and which cooperation shall
include, without limitation, providing copies of relevant correspondence and
insurance policies. If it is determined that the increase in insurance premium
was not due to Tenant's presence activity, property or improvements in or about
the Premises, Landlord shall promptly reimburse Tenant for any increased
insurance premium payments made by Tenant.

     D. Termination Right. Landlord shall have the right to terminate this Lease
upon thirty (30) days notice to Tenant in the event Landlord receives notice
from any of Landlord's insurance carriers that such carrier intends to cancel
its insurance on the Building due exclusively to the activities of Tenant or the
presence of Tenant in the Building. It is expressly understood that Landlord
shall not have the right to terminate this Lease pursuant to this Subsection D
if any cancellation or rate increase is due to factors generally applicable to
the insurance or rental market, rather than to Tenant's specific activities or
presence in the Building.

     E. Waiver. Landlord and Tenant hereby each waive and release each other
from any and all liabilities, claims and losses for which Landlord or Tenant is
or may be held liable, to the extent either party: (i) receives insurance
proceeds on account thereof or (ii) is required to maintain insurance pursuant
to this Section; regardless of whether the insurance is actually maintained.

     F. Landlord covenants and agrees that during the term of this Lease or any
renewal thereof, Landlord will carry and maintain the following types of
insurance, written as primary policy coverage and not contributing to or in
excess of any coverage which the mortgagee or Tenant may carry, in the amounts
specified and in the form hereinafter provided for:

        (1) Landlord shall keep and maintain in full force and effect Public
Liability Insurance with minimum limits of $1,000,000 per person and $2,000,000
per occurrence on account of bodily injury to or death of one or more persons
and $1,000,000 on account of damage to property; or such greater amount as may
be required by Landlord's Mortgagee.

        (2) Landlord shall, at all times, keep and maintain in full force and
effect All Risk coverage policy or policies of insurance covering the Building
and common areas (excluding Tenant's Work, Tenant Alterations and other
improvements which are the responsibility of the tenants) and equipment
(excluding tenant's fixtures, merchandise, personal property and betterment's
and any other item included in tenant's insurance) in an amount not less than
full replacement cost with agreed amount endorsement (exclusive of the cost of
excavations, foundations and footings) updated from time to time during the term
of this Lease or the amount of such insurance which Landlord's mortgage lender
may require Landlord to maintain, whichever is the greater, providing protection
against any peril generally including within the classification "All Risk
Coverage", together with insurance against sprinkler damage, vandalism and
malicious mischief.

        (3) Landlord's obligation to carry the insurance provided for herein may
be brought within the coverage of a so-called blanket policy or policies of
insurance carried and maintained by Landlord provided that the coverage afforded
will not be reduced or diminished by reason of the use of such blanket policy of
insurance.

        (4) Landlord's insurance policies shall contain an express waiver of any
right of subrogation by the insurance company against Tenant and Tenant's
employees and agents.

18.  CONDEMNATION.

     A. Right to Terminate: If a substantial part of the Premises, the Building
or the Land is taken or condemned by any governmental authority for any purpose
or is granted to any authority in lieu of condemnation such event is hereinafter
referred to as a "taking". If a substantial part of the Premises or a
substantial portion of the Common Areas of the Building are a subject of a
taking with the result that the remaining portions of the Common Areas do not
permit the operation of the Building as a first (1st) class office building,
Landlord and Tenant shall each have the right to terminate this Lease by written
notice to the other, and upon the giving of such notice, the Term shall
terminate as of the date title vests in the authority, and Rent shall be abated
as of that date. If a substantial part of the Building or the Land is the
subject of the taking, Landlord shall have the right in its sole but reasonable
discretion to terminate this Lease by written notice to Tenant, and upon the
giving of such notice, the Term shall terminate as of the date title vests in
the authority, and Rent shall be abated as of that date; provided, however that
Landlord may not terminate this Lease pursuant hereto if Landlord does not
terminate the leases of all other similarly affected tenants of the Building.
For purposes of this Section, a substantial part of the Premises, the Land or
the Building shall be considered to have been taken if the taking shall render
it commercially undesirable for Landlord to continue or to continue operating
the Building.

     B. Adjustment of Rent: If a portion of the Premises is taken and Landlord
does not elect to terminate this Lease pursuant to the preceding section, then
Rent shall be equitably adjusted as of the earlier of (i) the date title vests
in the authority or (ii) the date Tenant is required to vacate by the authority
and this Lease shall otherwise continue in full force and effect.

     C. Division of Award: Tenant shall have no claim against Landlord arising
out of or related to any taking, or for any portion of the amount that may be
awarded as a result, and Tenant hereby assigns to Landlord all its rights, title
and interest in and to any such award; provided, however, that Tenant may assert
any claim it may have against the authority for compensation for Tenant's

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<PAGE>

Personal Property and Alterations and for any relocation expenses compensable by
statute, as long as such awards shall be made in addition to and stated
separately from the award made for the Land, the Building and the Premises.

19.  DEFAULT.

     A. Default of Tenant: The following events shall be a default by Tenant (a
"Default") under this Lease:

        (1) Failure of Tenant to pay Rent as and when due, if the failure
continues for five (5) business days after receipt of notice from Landlord
specifying the failure.

        (2) Failure of Tenant to comply with or perform any covenant or
obligation of Tenant under this Lease, other than those concerning the payment
of Rent, if the failure continues for thirty (30) days after notice from
Landlord to Tenant specifying the failure; provided, however that, if (i) the
default is of such a nature that thirty (30) days is an unreasonably short
period of time in which to cure the default; (ii) Tenant has commenced curing
the default within the thirty (30) day period; and (iii) Tenant is continuing to
diligently pursue a cure of such default, then Tenant shall have such additional
reasonable time as may be necessary within which to complete the cure of said
default.

        (3) If Tenant, any guarantor of Tenant's performance hereunder (a
"Guarantor") or, if Tenant is a partnership, any partner of Tenant ("Partner"),
shall file a voluntary petition in bankruptcy or insolvency, shall be
adjudicated bankrupt or insolvent or shall file a petition or answer seeking any
reorganization, arrangement, composition, readjustment, liquidation, dissolution
or similar relief under any present or future federal, state or other law, or
shall make an assignment for the benefit of creditors, or shall seek or
acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or
of any Guarantor or Partner or of all or any part of the property of Tenant or
of such Guarantor or Partner.

        (4) If, within sixty (60) days after the commencement of any proceeding
against Tenant or a Guarantor or Partner, whether by the filing of a petition or
otherwise, seeking any reorganization, arrangement, composition, readjustment,
liquidation, dissolution or similar relief under any present or future
applicable federal, state or other law, such proceeding shall not have been
dismissed or if, within sixty (60) days after the appointment of any trustee,
receiver or liquidator of Tenant or any Guarantor or Partner, or of all or any
part of the property of Tenant or of any Guarantor or Partner, without the
acquiescence of such individual or entity, such appointment shall not have been
vacated or otherwise discharged, or if any execution or attachment shall have
been issued against the property of Tenant or of any Guarantor or Partner,
pursuant to which the Premises shall be taken or occupied or attempted to be
taken or occupied.

     B. Remedies Upon Default: Upon the occurrence of a Default, Landlord shall
have the right upon providing proper demand and notice as required by law, then
or at any time thereafter:

        (1) Without additional demand or notice, to reenter and take possession
of all or any part of the Premises, to expel Tenant and those claiming through
Tenant and to remove any property therein, either by summary proceedings or by
any other action at law, in equity or otherwise, with or without terminating
this Lease, without being deemed guilty of trespass and without prejudice to any
other remedies of Landlord for breach of this Lease, and/or

        (2) To give Tenant written notice of Landlord's intent to terminate this
Lease, and on the date specified in Landlord's notice, Tenant's right to
possession of the Premises shall cease and this Lease shall terminate.

     If Landlord elects to terminate this Lease, everything contained in this
Lease on the part of Landlord to be done shall cease, without prejudice to
Landlord's right to recover from Tenant all Rent, as set forth in Subsections C.
and D. below. If Landlord elects to reenter pursuant to Subsection B.(1) above,
Landlord may terminate this Lease, or, from time to time without terminating
this Lease, may relet all or any part of the Premises as the agent of Tenant,
for such term, at such rental and upon such other provisions as Landlord
reasonably deems acceptable, with the right to make any alterations and repairs
to the Premises that Landlord reasonably deems appropriate, at Tenant's expense.
No such reentry or taking of possession of the Premises shall be construed as an
election to terminate this Lease, unless notice of such intention is given
pursuant to Subsection B.(2) above, or unless termination be decreed by a court
of competent jurisdiction at the instance of Landlord. Subject to provisions of
the following sentences, Landlord shall in no event be under any obligation to
relet any part of the Premises, except as otherwise provided under the law of
the Commonwealth of Virginia. Notwithstanding anything to the contrary contained
herein, Landlord shall make commercially reasonable efforts to mitigate any
damages it may incur as a result of any default by Tenant hereunder. Provided,
however, nothing herein shall require Landlord to lease the Premises prior to
leasing other comparable space which may become available, from time to time in
the Building.

     C. Liability of Tenant-Indemnity Payment: If Landlord terminates this Lease
or reenters the Premises (with or without terminating this Lease), Tenant shall
remain liable (in addition to all other liabilities of Tenant accrued at the
time of the Default) for the sum of (i) any unpaid Rent accrued prior to the
time of termination and/or reentry, as the case may be, plus interest thereon
from the due date at the Default Rate, (ii) all Base Rent and Additional Rent
provided for in this Lease from the time of termination and/or reentry, as the
case may be, until the date this Lease would have expired had a Default not
occurred, plus interest thereon from the due date at the Default Rate, (iii) any
and all expenses (including but not limited to reasonable attorneys' and
brokerage fees)

                                       11

<PAGE>

incurred by Landlord in reentering and repossessing the Premises, in correcting
any default by Tenant, in painting, altering or repairing the Premises in order
to place the Premises in the condition required by this Lease upon surrender of
the Premises (whether or not the Premises are relet), in protecting and
preserving the Premises and in reletting or attempting to relet the Premises,
and (iv) any other amounts necessary to compensate Landlord for any other injury
or detriment caused by the Default, minus the net proceeds (after deducting any
rental abatements, tenant improvement allowances and other concessions and
inducements) actually received by Landlord, if any, from any reletting to the
extent attributable to the period prior to the date this Lease would have
expired had a Default not occurred, Landlord shall have the option to recover
any damages sustained by Landlord either at the time of reletting, if any, or in
separate actions from time to time as said damages shall have been made more
easily ascertainable by successive relettings or, at Landlord's option, to defer
any such recovery until the date this Lease would have expired in the absence of
a Default, in which event Tenant hereby agrees that the cause of action shall be
deemed to have accrued on the aforesaid date. The provisions of this Section
shall be in addition to, and shall not prevent the enforcement of, any claim
Landlord may have for anticipatory breach of this Lease.

     D. Liability of Tenant-Liquidated Damages: If Landlord terminates this
Lease, Landlord shall have the right at any time within six (6) months of the
date Landlord terminates this Lease or reenters the Premises, at its sole option
and in lieu of any recovery pursuant to Subsection C above, to require Tenant to
pay to Landlord on demand, as liquidated damages, the sum of (i) the total of
the Base Rent, Additional Rent and all other sums which would have been payable
under this Lease from the date of Landlord's demand for liquidated damages
("Landlord's Demand") until the date this Lease would have terminated in the
absence of the Default, discounted to present value at the rate of eight percent
(8%) per annum (the "Discount Rate"), (ii) all unpaid Rent accrued prior to the
time of Landlord's Demand, plus interest thereon from the due date at the
Default Rate, (iii) any and all expenses (including but not limited to
reasonable attorneys' and reasonable brokerage fees) incurred by Landlord in
reentering and repossessing the Premises, in correcting any default, in
painting, altering or repairing the Premises in order to place the Premises in
first-class rentable condition (whether or not the Premises are relet), in
protecting and preserving the Premises and in reletting or attempting to relet
the Premises, and (iv) any other amounts necessary to compensate Landlord for
any other injury or detriment caused by the Default; minus the sum of (a) the
net fair market rental value of the Premises for the period referred to in
Subsection D.(iv) (a) above, discounted to present value at the Discount Rate,
and (b) any sums actually paid by Tenant to Landlord pursuant to Subsection C.
above; provided, however, that if said damages shall be limited by law to a
lesser amount, Landlord shall be entitled to recover the maximum amount
permitted by law. The "net fair market rental value" referred to in Subsection
D.(a) above shall be the fair market rental value of the Premises at the time of
Landlord's Demand, reduced by any rental abatements, tenant improvement
allowances and other concessions and inducements generally provided by landlords
seeking to lease comparable commercial property in the area of the Premises at
the time of Landlord's Demand. If reletting is accomplished within a reasonable
time after Lease termination, the "net fair market rental value" referred to in
Subsection D.(a) above shall be deemed prima facie to be the net rental income
(after deducting any rental abatements, tenant improvement allowances and other
concessions and inducements) realized upon such reletting. In the event Landlord
elects liquidated damages pursuant to this Subsection D, Landlord shall no
longer be entitled to recover any damages pursuant to Subsection C above.

     E. Waiver: Tenant, on its own behalf and on behalf of all persons and
entities claiming through Tenant hereby waives any and all rights and privileges
which Tenant and such other persons and entities might otherwise have under any
present or future law: (i) to redeem the Premises, (ii) to reenter or repossess
the Premises, or (iii) to restore the operation of this Lease, with respect to
any dispossession of Tenant by judgment or warrant of any court, any reentry by
Landlord or any expiration or termination of this Lease, whether by operation of
law or pursuant to the provisions of this Lease. Tenant hereby expressly waives
receipt of a Notice to Quit.

     F. Right of Distress: Landlord shall, to the extent permitted by law, have
a right of distress for Rent.

     G. Right of Landlord to Cure: If Tenant defaults in the making of any
payment or in the performance of any act required to be made or performed by
Tenant under this Lease and the default continues beyond all applicable notice
and cure periods, then Landlord may, at its option, make such payment or perform
such act, and the amounts actually paid or reasonable costs and expenses
incurred, with interest thereon at the Default Rate, from the date paid by
Landlord, shall constitute Additional Rent hereunder due and payable by Tenant
within ten (10) days after Tenant's receipt of a reasonably detailed invoice.

     H. Attorneys' Fees: If either party to this Lease materially defaults in
the performance of any of the covenants of this Lease and by reason thereof the
other party engages the services of an attorney or attorneys to enforce the
performance due under this Lease or pursue remedies in connection with a default
under this Lease by the other party, or to perform any service based upon said
default, then the defaulting party shall pay a reasonable attorney's fee and all
reasonable expenses and costs incurred by the non-defaulting party pertaining
thereto.

     I. Survival: Tenant's liability pursuant to this Section 19 and Landlord's
liability pursuant to Paragraph H of this Section 19 shall survive the
termination of this Lease, the institution of summary proceedings and/or the
issuance of a warrant thereunder.

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<PAGE>

20.  NO WAIVER.

     No act or thing done by Landlord or Landlord's agents during the Term shall
be deemed an acceptance of a surrender of said Premises, and no agreement to
accept such surrender shall be valid unless in writing signed by Landlord. No
employee of Landlord or of Landlord's agents shall have any power to accept the
keys of said Premises prior to the termination of the Lease. The delivery of
keys to any employee of Landlord or of Landlord's agents shall not operate as a
termination of the Lease or a surrender of the Premises. In the event of Tenant
at any time providing notice it desires to have Landlord sublet the Premises for
Tenant's account, Landlord or Landlord's agents are authorized to receive said
keys for such purposes without releasing Tenant from any of the obligations
under this Lease, and Tenant hereby relieves Landlord of any liability for loss
of or damage to any of Tenant's effects in connection with such subletting. The
failure of Landlord to seek redress for violation of, or to insist upon the
strict performance of, any covenant or condition of this Lease, or any of the
Rules and Regulations set forth or hereafter adopted by Landlord, shall not
prevent a subsequent act, which would have originally constituted a violation,
from having all the force and effect of an original violation. The receipt by
Landlord of Rent with knowledge of the breach of any covenant of this Lease
shall not be deemed a waiver of such breach. The failure of Landlord to enforce
any of the Rules and Regulations set forth, or hereafter adopted, against Tenant
and/or any other tenant in the Building shall not be deemed a waiver of any such
Rules and Regulations. No provision of this Lease shall be deemed to have been
waived by Landlord, unless such waiver is in writing signed by Landlord. No
payment by Tenant or receipt by Landlord of a lesser amount than the Rent herein
stipulated shall be deemed to be other than on account of the earliest
stipulated rent, nor shall any endorsement or statement on any check or any
letter accompanying any check or payment as rent be deemed an accord and
satisfaction, and Landlord may accept such check or payment without prejudice to
Landlord's right to recover the balance of such Rent or pursue any other remedy
in this Lease provided. This Lease contains the entire agreement between the
parties, and any executory agreement hereafter made shall be ineffective to
change, modify, discharge or effect an abandonment of it in whole or in part
unless such executory agreement is in writing and signed by the party against
whom enforcement of the change, modification, discharge or abandonment is
sought.

21.  HOLDING OVER.

     A. If Tenant does not immediately surrender the Premises upon the
expiration or earlier termination of the Lease, and holds over with Landlord's
express written consent, then Tenant shall become a Tenant from month to month
and it is agreed that the tenancy thus created can be terminated by either party
giving the other not less than thirty (30) days written notice to expire on the
day of the month from which the tenancy commenced to run. Tenant agrees to pay
during the holdover period Monthly Base Rent as agreed upon by Landlord and
Tenant and all Additional Rent and to keep and fulfill all the other covenants,
conditions and agreements herein, and in case of default in the payment of rent
or breach of any said covenants, conditions and agreements, which default
continues beyond all applicable notice and cure periods, Tenant hereby waives
Tenant's right to a notice to quit.

     B. If Tenant does not immediately surrender the Premises upon the
expiration or earlier termination of the Lease, and holds over without
Landlord's express written consent, then Tenant shall become a Tenant at
sufferance and the rent shall be increased to one hundred fifty percent (150%)
of the then escalated Base Rent that would have been payable pursuant to this
Lease if the Lease had continued during such holdover period. In addition, if
Tenant is in holdover without Landlord's express written consent for more than
sixty (60) days, then Tenant shall be liable for any and all damages sustained
by Landlord solely as a result of Tenant's holding over.

     C. All amounts payable to Landlord during the holdover period shall be paid
on the first day of each calendar month during the holdover period until the
Premises have been vacated. Landlord's acceptance of such rent shall not in any
manner adversely affect Landlord's other rights and remedies including
Landlord's right to evict Tenant and to recover damages pursuant to Section 19B
of this Lease.

22.  SUBORDINATION.

     This Lease is subject and subordinate to the lien of any mortgage, or deed
of trust encumbrance or encumbrances, which may now or hereafter affect the real
property of which the Premises form a part, and to all renewals, modifications,
consolidations, replacements and extensions thereof. Landlord represents that
the only mortgage or deed of trust currently encumbering such real property is
held by Prudential Life Insurance Company of America ("Prudential"). Landlord
agrees to obtain a Subordination Non-Disturbance and Attornment Agreement from
Prudential within thirty (30) days of the date hereof, failing which Tenant may
terminate this Lease by giving notice to Landlord within forty (40) days of the
date hereof. Within ten (10) business days after request by Landlord, the Tenant
will execute such instruments in recordable form as may reasonably be requested
by Landlord to evidence the subordination of this Lease to any present or future
mortgage or deed of trust encumbrance affecting the Building. Notwithstanding
the foregoing, the subordination under the terms of this Section 22 to a new
deed of trust or mortgage shall be subject to the holder of record of any
existing or future mortgages or deeds of trust or landlord (referred to as a
"holder") entering into an agreement with

                                       13

<PAGE>

Tenant, in substance reasonably satisfactory to Tenant and the holder, by the
terms of which such holder will agree to (a) recognize the rights of Tenant
under this Lease, (b) perform Landlord's obligations hereunder arising after the
date of such holder's acquisition of Landlord's interest in the Property, and
(c) not disturb Tenant's possession of the Premises and to accept Tenant as
tenant under the terms and conditions of this Lease in the event of acquisition
of title by such holder through foreclosure proceedings and Tenant will agree to
recognize the holder of such mortgage as landlord in such event, which agreement
shall be made expressly to bind and inure to the benefit of the successors and
assigns of Tenant and of such holder, and upon anyone purchasing the Building at
any foreclosure sale.

23.  ASSIGNMENT AND SUBLETTING.

     A. No Transfer Without Consent: Tenant shall not, without the prior written
consent of Landlord in each instance (which consent shall not be unreasonably
withheld, conditioned or delayed) (i) assign, mortgage or otherwise encumber
this Lease or any of its rights hereunder to any persons or entities other than
affiliates or subsidiaries of Tenant; (ii) sublet the Premises or any part
thereof or permit the occupancy or use of the Premises or any part thereof by
any persons or entities other than Tenant; or (iii) permit the assignment of
this Lease or any of Tenant's rights hereunder by operation of law. Any
attempted assignment, mortgaging or encumbering of this Lease or any of Tenant's
rights hereunder and any attempted subletting or grant of a right to use or
occupy all or a portion of the Premises in violation of the foregoing sentence
shall be void. Notwithstanding the provisions hereof, Landlord shall consent to
an assignment or subletting of the Premises, or any portion thereof, by Tenant
to any entity which controls, is controlled by or is under common control with
Tenant, or to any corporation resulting from a merger or consolidation with
Tenant, or to any person or entity which acquires all or substantially all of
the assets of Tenant, provided that the transferee assumes the obligations of
Tenant under this Lease.

     B. Transfer of Stock: If Tenant and/or any Guarantor is a corporation, then
the sale, issuance or transfer of any voting capital stock of Tenant or any
Guarantor, by the person, persons or entities owning a controlling interest
therein as of the date of this Lease, which results in a change in the voting
control of Tenant or the Guarantor, shall be deemed an assignment within the
meaning of this Section 23. If Tenant and/or any Guarantor are a partnership,
the sale or transfer of the partnership share, or any portion thereof, of any
general partner shall be deemed an assignment of this Lease. Notwithstanding the
foregoing or anything herein to the contrary, the trading, sale or transfer of
the stock or other equity interest or Tenant shall not be deemed an assignment
or the Lease so long as the stock of Tenant is publicly traded or is or becomes
listed on a nationally recognized security exchange.

     C. Expenses and Profits; Effect of Consent:

        (1) In the event Landlord permits Tenant to assign or sublet all or a
portion of the Premises greater than 7,500 rentable square feet to a third party
(not including affiliates or subsidiaries of Tenant), 50% of any net sums that
are paid by such third party for the right to occupy the Premises, in excess of
the Rent then in effect, less any reasonable expenses directly associated
therewith, shall be paid by Tenant to Landlord on a monthly basis as Additional
Rent.

        (2) Tenant shall be responsible for all costs and expenses, including
reasonable attorneys' fees, incurred by Landlord in connection with any proposed
or purported assignment or sublease and an administrative fee equal to Seven
Hundred Fifty Dollars ($750.00).

        (3) The consent by Landlord to any assignment or subletting shall
neither be construed as a waiver or release of Tenant from any covenant or
obligation of Tenant under this Lease, nor as relieving Tenant from giving
Landlord the aforesaid thirty (30) days notice of, or from obtaining the consent
of Landlord to, any further assignment or subletting. The collection or
acceptance of Rent from any such assignee or subtenant shall not constitute a
waiver or release of Tenant from any covenant or obligation of Tenant under this
Lease, except as expressly agreed by Landlord in writing.

     D. Sharing of the Premises: Notwithstanding the foregoing or anything in
this Lease to the contrary, the sharing or utilization of the Premises by
Tenant's affiliates or subsidiaries shall in no event constitute an unauthorized
sublet or assignment under this Lease and no additional payments shall be due to
Landlord as a result thereof.

24.  TRANSFER BY LANDLORD.

     Landlord (and any successor or affiliate of Landlord) may freely sell,
assign or transfer all or any portion of its interest in this Lease or the
Premises, the Building or the Land. Landlord will notify Tenant of any transfer
of its interest in the Building within a reasonable time after the occurrence
thereof. In the event of any such sale, assignment or transfer, Landlord shall
be relieved of any and all obligations under this Lease from and after the date
of the sale, assignment or transfer. From and after said date, Tenant shall be
bound to such purchaser, assignee or other transferee, as the case may be, as
though the latter had been the original Landlord hereunder, provided that the
purchaser, assignee or transferee agrees to assume the obligations of Landlord
hereunder.

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<PAGE>

25.  INABILITY TO PERFORM.

     This Lease and Tenant's obligation hereunder shall in no way be affected,
impaired or excused, nor shall Tenant have any claim against Landlord for
damages, because Landlord, due to Unavoidable Delays, is unable to fulfill any
of its obligations under this Lease, including, but not limited to, any
obligations to provide any services, repairs, replacements, alterations or
decorations or to supply any improvements, equipment or fixtures.

26.  ESTOPPEL CERTIFICATES.

     Tenant shall, without charge, within ten (10) business days after receipt
of any written request therefor, execute and deliver to Landlord a certificate
stating: (i) whether this Lease is unmodified and in full force and effect (or
if there have been modifications, whether the Lease is in full force and effect
and setting forth all such modifications); (ii) whether, to the actual knowledge
of Tenant, whether there then exist any defenses against the enforcement of any
right of Landlord hereunder (and, if so, specifying the same in detail); (iii)
the dates to which rent and any other charges hereunder have been paid by
Tenant; (iv) whether Tenant has any knowledge of any then uncured defaults under
this Lease (or, if Tenant has knowledge of any such defaults, specifying the
same in detail); (v) whether Tenant has any knowledge of any event that will or
may result in the termination of this Lease (or if Tenant has such knowledge,
specifying the same in detail); (vi) the address to which notices to Tenant are
to be sent; and (vii) such other information as may be reasonably requested. It
is understood that any such certificate may be relied upon by Landlord, any
Mortgagee, prospective Mortgagee, Ground Lessor, prospective Ground Lessor, or
purchaser or prospective purchaser of the Land or the Building.

     Landlord hereby agrees to provide to Tenant an Estoppel certificate signed
by Landlord containing the same type of information and written within the same
periods of time as are set forth in this Lease with respect to an Estoppel
certificate from Tenant, except for such changes as are reasonably necessary to
reflect that the Estoppel certificate is being granted and signed by Landlord to
Tenant or Tenant's lender, assignee or subtenant, rather than from Tenant to
Landlord or to Landlord's or purchaser's lender or to a purchaser.
Notwithstanding anything to the contrary set forth in this Lease, neither
Landlord nor Tenant will be given a power of attorney to execute an Estoppel
certificate for the other.

27.  COVENANT OF QUIET ENJOYMENT.

     Landlord covenants that it has the right to make this Lease and that, if
Tenant shall pay all Rent and perform all of Tenant's other obligations under
this Lease, Tenant shall have the right, during the Term and subject to the
provisions of this Lease, to quietly occupy and enjoy the Premises without
hindrance by Landlord or its successors and assigns or anyone claiming through
Landlord.

28.  WAIVER OF JURY TRIAL.

     It is mutually agreed by and between Landlord and Tenant freely and
knowingly, and with the advice of counsel that the respective parties hereto
shall and they hereby do waive trial by jury in any action, proceeding or
counterclaim brought by either of the parties hereto against the other on any
matters whatsoever arising out of or in any way connected with this Lease, the
relationship of Landlord and Tenant, Tenant's use or occupancy of said Premises,
and/or any claim of injury or damage, and any emergency statutory or any other
statutory remedy. It is further mutually agreed that in the event Landlord
commences any summary proceeding for non-payment of Rent, Tenant will not
interpose any counterclaim of whatever nature or description in any such
proceeding.

29.  BROKERS.

     Landlord and Tenant each represents and warrants to the other that, except
as hereinafter set forth, neither of them has employed any broker in procuring
or carrying on any negotiations relating to this Lease. Landlord and Tenant
shall indemnify and hold each other harmless from any loss, claim or damage
relating to the breach of the foregoing representation and warranty. Landlord
recognizes only The Staubach Company-Northeast, Inc. and CB Richard Ellis as
broker(s) with respect to this Lease and agrees to be responsible for the
payment of any leasing commissions owed to said broker(s).

30.  CERTAIN RIGHTS RESERVED BY LANDLORD.

     Landlord shall have the following rights, exercisable without notice,
without liability for damage or injury to property, person or business and
without effecting an eviction, constructive or actual, or disturbance of
Tenant's use or possession of the Premises or giving rise to any claim for
set-off, abatement of Rent or otherwise:

     A. To affix, maintain and remove any and all signs on the exterior and
interior of the Building other than Tenant's approved signs; provided, however
if Landlord removes any such signs Landlord will reinstall said signs in a
reasonably comparable location.

                                       15

<PAGE>

     B. To designate and approve, prior to installation, all window shades,
blinds, drapes, awnings, window ventilators, lighting and other similar
equipment to be installed by Tenant that may be visible from the exterior of the
Premises or the Building which approval shall not be unreasonably withheld,
conditioned or delayed.

     C. To decorate and make repairs, alterations, additions and improvements,
whether structural or otherwise, in, to and about the Building and any part
thereof, and for such purposes with prior reasonable notice except in the event
of an emergency, to enter the Premises, and, during the continuance of any such
work, to close temporarily doors, entry ways, Common Areas in the Building and
to interrupt or temporarily suspend Building services and facilities, all
without affecting Tenant's obligations hereunder, as long as the Premises remain
reasonably accessible to Tenant and suitable for ordinary conduct of Tenant's
business.

     D. To grant to anyone the exclusive right to conduct any business or render
any service in the Building, provided Tenant is not thereby excluded from uses
expressly permitted herein.

     E. To alter, relocate, reconfigure and reduce the Common Areas of the
Building, as long as the Premises remain reasonably accessible and the Building
remains operable as a "first-class" office building.

     F. To alter, relocate, reconfigure, reduce and withdraw the Common Areas
located outside the Building, including parking and access roads, as long as the
Premises remain reasonably accessible and the Building remains operable as a
"first-class" building.

     G. To erect, use and maintain pipes and conduits in and through the
Premises so long as the usable square footage of the Premises is not reduced
thereby or the functionality or aesthetics of the Premises are not materially
adversely affected thereby.

31.  NOTICES.

     No notice, request, approval, waiver or other communication which may be or
is required or permitted to be given under this Lease shall be effective unless
the same is in writing and hand-delivered, sent by registered or certified mail,
return receipt requested, first-class postage prepaid, or sent prepaid by a
reputable air courier service that provides written notice of delivery,
addressed as follows:

     If to Landlord:

                      c/o Westfield Realty, Inc.
                      1000 Wilson Boulevard
                      Suite 700
                      Arlington, VA 22209
                      Attention: Timothy H. Helmig

     If to Tenant:

     Prior to the Lease Commencement Date:    After the Lease Commencement Date:

     1100 Wilson Boulevard, Suite 800         at the Premises
     Arlington, VA  22209                     Attn:  President
     Attn: President

     With a copy to General Counsel           With a copy to General Counsel

or at any other address of which either party shall notify the other in
accordance with this Section. Such communications, if sent by air courier or
registered or certified mail, shall be deemed to have been given two (2) days
after the date of mailing. If any Mortgagee shall notify Tenant that it is the
holder of a Mortgage affecting the Premises, no notice, request or demand
thereafter sent by Tenant to Landlord shall be effective until a copy of same
shall be sent to such Mortgagee in the manner prescribed in this Section at such
address as such Mortgagee shall designate.

32.  MISCELLANEOUS PROVISIONS.

     A. Benefit and Burden: The provisions of this Lease shall be binding upon,
and shall inure to the benefit of, the parties hereto and each of their
respective successors and permitted assigns.

     B. Governing Law: This Lease shall be construed and enforced in accordance
with the laws of the Commonwealth of Virginia.

     C. No Partnership: Nothing contained in this Lease shall be deemed to
create a partnership or joint venture between Landlord and Tenant, or to create
any other relationship between the parties other than that of Landlord and
Tenant.

     D. Delegation by Landlord: Wherever Landlord has the authority to take any
action under this Lease, Landlord shall have

                                       16

<PAGE>

the right to delegate such authority to others, and Landlord shall be
responsible for the authorized actions of such agents, employees and others, to
the same extent as if Landlord had taken such action itself.

     E. Tenant Responsibility for Agents: In any case where Tenant is
responsible for performing or refraining from an act or for preventing an action
or result from occurring, Tenant shall also be responsible for any actions taken
or omitted by Tenant's agents, employees, business or other invitees, licensees,
contractors, subtenants, guests and any other individuals or entities present in
the Building or on the Land at Tenant's invitation.

     F. Invalidity of Particular Provisions: If any provision of this Lease or
the application thereof to any person, entity or circumstance shall, to any
extent, be held invalid or unenforceable, the remaining provisions and the
application of such invalid or unenforceable provisions to persons, entities and
circumstances other than those as to which it is held invalid or unenforceable,
shall not be affected thereby. Each provision of this Lease shall be valid and
enforced to the fullest extent permitted by law.

     G. Counterparts: This Lease may be executed in several counterparts, all of
which shall constitute one and the same document.

     H. Entire Agreement: This Lease, and any exhibits and addenda attached
hereto, embody the entire agreement of the parties hereto, and no
representations, inducements or agreements, oral or otherwise, between the
parties not contained in this Lease or in the exhibits or addenda shall be of
any force or effect. No rights, privileges, easements or licenses are granted to
Tenant hereby, except as expressly set forth herein.

     I. Amendments: This Lease may not be modified in whole or in part in any
manner other than by an agreement in writing signed by both parties.

     J. Mortgagee's Performance: Tenant shall accept performance of any of
Landlord's obligations hereunder by any Mortgagee.

     K. Limitation on Interest: In any case where this Lease provides for a rate
of interest that is higher than the maximum rate permitted by law, the rate
specified herein shall be deemed to equal, and the party designated as recipient
of such interest shall be entitled to receive, the maximum rate of interest
permitted by law.

     L. Remedies Cumulative: All rights and remedies of Landlord shall be
cumulative and shall not be exclusive of any other rights or remedies of
Landlord hereunder or now or hereafter existing at law or in equity.

     M. Annual Financial Statements: Not later than ninety (90) days after the
end of each of Tenant's financial reporting year during the Term, Tenant shall
submit to Landlord a financial statement covering the preceding Fiscal Year,
which has been prepared in accordance with generally accepted accounting
principles and which has been certified by an independent certified public
accountant to be complete and accurate in all material respects.

     N. Signage: Landlord shall provide to Tenant an adequate allocation of
directory strips on the directory boards of the Building and Landlord, at
Landlord's sole cost, shall place Tenant's name on all of the directory boards
in the Building.

33.  LENDER APPROVAL.

     Intentionally deleted.

34.  PARKING.

     Landlord agrees that it will provide Tenant with the right to purchase up
to sixty three (63) unreserved parking permits in the garage of the Building
("Parking Permits"). For each month during the Term and any extensions and
renewals thereof, Tenant shall pay, as Additional Rent for the use of such
Parking Permits, an amount equal to the then current monthly rate for the
Parking Permits which is currently One Hundred Thirty Four Dollars ($134.00) per
month per unreserved permit. At Tenant's option up to four (4) of the Parking
Permits shall be on a reserved basis at the then current monthly rate which is
currently Two Hundred Seventy Five Dollars ($275.00) per reserved permit per
month. In addition, five (5) of the unreserved Parking Permits shall be at no
charge to Tenant throughout the Term. Except for reserved parking permits, no
specific parking spaces will be allocated for use by Tenant. Tenant's reserved
parking spaces will be specifically designated as reserved for Tenant and will
be located as mutually agreed upon. Landlord reserves the right to institute
either a valet or self-parking system; provided, however, that if at any time
during the Term of the Lease Landlord provides to Tenant any additional spaces,
Landlord shall at all times have the right to reclaim such spaces upon thirty
(30) days notice to Tenant. In addition, Landlord reserves the right to allocate
up to twenty-four (24) of the Parking Permits to the 1101 Wilson Boulevard
parking garage which is owned and operated by Westfield Realty, Inc. Subject to
repairs and maintenance, parking will be available for Tenant's use 24 hours a
day, 7 days a week, every day of the year.

     Tenant and its employees, agents and invitees shall observe reasonable
safety precautions in the use of the garage and, upon reasonable prior notice,
shall at all times abide by all rules and regulations promulgated by Landlord
and/or the garage operator governing use of the garage. Landlord does not assume
any responsibility for, and shall not be held liable for, any damage or loss to
any automobiles parked in the garage or to any personal property located
therein, or for any injury sustained by any person in or

                                       17

<PAGE>

about the garage.

35.  SECURITY DEPOSIT.

     Intentionally deleted.

36.  HAZARDOUS MATERIALS.

     A. Definition. As used in this Lease, the term "Hazardous Material" means
any flammable items, explosives, radioactive materials, hazardous or toxic
substances, material or waste or related materials, including any substances
defined as or included in the definition of "hazardous substances", "hazardous
wastes", "infectious wastes", "hazardous materials" or "toxic substances" now or
subsequently regulated under any federal, state or local laws, regulations or
ordinances including, without limitation, oil, petroleum-based products, paints,
solvents, lead, cyanide, DDT, printing inks, acids, pesticides, ammonia
compounds and other chemical products, asbestos, PCBs and similar compounds, and
including any different products and materials which are subsequently found to
have adverse effects on the environment or the health and safety of persons.

     B. General Prohibition. Tenant shall not cause or permit any Hazardous
Material to be generated, produced, brought upon, used, stored, treated,
discharged, released, spilled or disposed of on, in under or about the Premises,
the Building, or the Land (hereinafter referred to collectively as the
"Property") by Tenant, its affiliates, agents, employees, contractors,
subtenants, assignees or invitees, except customary office and cleaning supplies
kept in small quantities and used in compliance with applicable laws. Tenant
shall indemnify, defend and hold Landlord harmless from and against any and all
actions (including, without limitation, remedial or enforcement actions of any
kind, administrative or judicial proceedings, and orders or judgments arising
out of or resulting therefrom), costs, claims, damages (including without
limitation, reasonable attorneys', consultants', and experts' fees, court costs
and amount paid in settlement of any claims or actions), fines, forfeitures or
other civil, administrative or criminal penalties, injunctive or other relief
(whether or not based upon personal injury, property damage, or contamination
of, or adverse effects upon, the environment, water tables or natural
resources), liabilities or losses arising from a breach of this prohibition by
Tenant, its affiliates, agents, employees, contractors, subtenants, assignees or
invitees.

     C. Notice. In the event that Hazardous Materials are discovered upon, in,
or under the Property, and any governmental agency or entity having jurisdiction
over the Property requires the removal of such Hazardous Materials, Tenant shall
be responsible for removing those Hazardous Materials arising out of or related
to the use or occupancy of the Property by Tenant or its affiliates, agents,
employees, contractors, subtenants, assignees or invitees but not those of its
predecessors. Notwithstanding the foregoing, Tenant shall not take any remedial
action in or about the Property or any portion thereof without first notifying
Landlord of Tenant's intention to do so and affording Landlord the opportunity
to protect Landlord's interest with respect thereto. Tenant immediately shall
notify Landlord in writing of: (i) any spill, release, discharge or disposal of
any Hazardous Material in, on or under the Property or any portion thereof; (ii)
any enforcement, cleanup, removal or other governmental or regulatory action
instituted, contemplated, or threatened (if Tenant has notice thereof) pursuant
to any laws respecting Hazardous Materials; (iii) any claim made or threatened
by any person against Tenant or the Property or any portion thereof relating to
damage, contribution, cost recovery, compensation, loss or injury resulting from
or claimed to result from any Hazardous Materials; and (iv) any reports made to
any governmental agency or entity arising out of or in connection with any
Hazardous Materials in, on under or about or removed from the Property or any
portion thereof, including any complaints, notices, warnings, reports or
asserted violations in connection therewith. Tenant also shall supply to
Landlord as promptly as possible, and in any event within five (5) business days
after Tenant first receives or sends the same, copies of all claims, reports,
complaints, notices, warnings or asserted violations relating in any way to the
Premises, the Property or Tenant's use or occupancy thereof.

     D. Warranty: To the best of Landlord's knowledge, Landlord hereby warrants
and represents that the Building is free of all asbestos containing materials
and is currently in compliance with all laws and regulations pertaining to
Hazardous Materials.

     E. Survival. The respective rights and obligations of Landlord and Tenant
under this Section 36 shall survive the expiration or earlier termination of
this Lease.

37.  NO RECORDATION.

     Tenant shall not record or attempt to record this Lease or any memorandum
hereof in any public records without the prior written approval of Landlord,
which may be denied in Landlord's sole and absolute discretion. In the event
that Landlord grants its approval to record this Lease or a memorandum hereof,
Tenant shall pay all recordation fees, taxes and charges in connection with such
recordation.

                                       18

<PAGE>

38.  RENEWAL.

     A. If no Default then exists and is continuing hereunder, Tenant or its
approved successors and assigns shall have the right, upon twelve (12) months
prior written notice, to renew and extend the Term of the Lease for the entire
Premises for one (1) five (5) year period (the "First Extension Period")
commencing upon expiration of the initial Term. The Base Rent for the First
Extension Period shall be negotiated in good faith between both parties to the
then Fair Market Rental (as defined below) for comparable renewal transactions.

     B. Second Renewal Option. If the Term has been extended through the First
Extension Period and if no Default then exists and is continuing hereunder,
Tenant shall have the right, upon twelve (12) months prior written notice, to
further renew and extend the Term of the Lease for the entire Premises for one
(1) additional five (5) year period (the "Second Extension Period") commencing
upon expiration of the First Extension Period. The Base Rent for the Second
Extension Period shall be negotiated in good faith between both parties to the
then Fair Market Rental for comparable renewal transactions.

     C. Determination of Base Rent of the First and Second Extension Periods:
After timely receipt by Landlord of Tenant's notice of exercise of an option to
extend the Lease Term, Landlord and Tenant shall have a period of thirty (30)
days in which to agree on the Fair Market Rental Rate of the Premises. If
Landlord and Tenant agree on the Fair Market Rental Rate for the Premises, then
they shall immediately execute an amendment of this Lease stating and
incorporating such agreed-upon Fair Market Rental Rate as the Base Rent for the
applicable Extension Period.

     D. Arbitration.

        (1) If Landlord and Tenant are unable to agree upon the Fair Market
Rental Rate within thirty (30) days following Tenant's exercise of the option,
Tenant shall have ten (10) days to terminate its exercise of its right of
renewal, however, if Tenant shall fail to terminate its right of renewal the
dispute shall proceed to arbitration. The arbitration procedure shall commence
when either party submits the matter to arbitration. Not later than ten (10)
days after the arbitration procedure has commenced, each party shall appoint an
arbitrator and notify the other party of such appointment by identifying the
appointee. Each party hereto agrees to select as its respective appointee a
licensed real estate broker, who is an individual of not less than ten (10)
years of experience with respect to office building ownership, management and
leasing in Arlington, Virginia, which person shall not be regularly employed or
have been retained during the prior two (2) years as a consultant or otherwise
by the party selecting such person. Neither party may consult directly or
indirectly with any arbitrator regarding the Fair Market Rental Rate prior to
appointment, or after appointment, outside the presence of the other party. The
arbitration shall be conducted in Arlington, Virginia, under the provisions of
the commercial arbitration rules of the American Arbitration Association.

        (2) Not later than ten (10) days after both arbitrators are appointed,
each party shall separately, but simultaneously, submit in a sealed envelope to
each arbitrator their separate suggested Fair Market Rental Rate and shall
provide a copy of such submission to the other party. The two (2) selected
arbitrators, after reviewing such submissions, shall endeavor to agree on the
Fair Market Rental Rate. If the two (2) selected arbitrators do agree on the
Fair Market Rental Rate, they shall determine whether Landlord's or Tenant's
estimate of the Fair Market Rental Rate is closer to the Fair Market Rental Rate
for the Premises which has been agreed upon by the two (2) selected arbitrators.
If both arbitrators agree that one of said estimates is closer to the Fair
Market Rental Rate agreed upon by the arbitrators, they shall declare that
estimate to be the Fair Market Rental Rate, and their decision shall be final
and binding upon the parties.

        (3) If the two (2) selected arbitrators are unable to agree on the Fair
Market Rental Rate or are unable to agree as to which one of the Landlord's or
Tenant's estimates is closer to the Fair Market Rental Rate within thirty (30)
days after receipt of Landlord's and Tenant's submitted estimates, then the
arbitrators shall inform the parties. Unless the parties shall both otherwise
then direct, said arbitrators shall select a third arbitrator, not later than
ten (10) days after the expiration of said thirty (30) day period. If no
arbitrator is selected within such ten (10) day period, either party may
immediately petition the judge of a court with general jurisdiction sitting in
Arlington, Virginia, to appoint such third arbitrator. The third arbitrator
shall have the qualifications and restrictions set forth in Subsection D (1)
above, and shall conduct arbitration pursuant to the commercial arbitration
rules of the American Arbitration Association. The third arbitrator's decision
shall be final and binding as to which estimate (as between Landlord's and
Tenant's) of the Fair Market Rental Rate is closer to the Fair Market Rental
Rate as determined by such third arbitrator; and the estimate thus determined by
the third arbitrator to be closer to the Fair Market Rental Rate as determined
by such third arbitrator shall be declared by the third arbitrator to be the
Fair Market Rental Rate. The third arbitrator shall make a decision not later
than thirty (30) days after appointment.

        (4) Each party shall be responsible for the costs, charges and/or fees
or its respective appointee, and the parties shall share equally in the costs,
charges and/or fees of the third arbitrator. The decision of the arbitrator(s)
shall be binding on both Landlord and Tenant and may be entered in any court
having jurisdiction thereof.

     E. Appraisal Standards. For purposes of this Lease, the term "Fair Market
Rental Rate" means the annual fair market rental rate per square foot of
rentable area of the Premises that would be agreed upon to establish the fixed
amount of the "Base Rent" (subject to escalation during the second and each
succeeding year of the Extension Term by application of the Escalation

                                       19

<PAGE>

Factor as described hereinafter) between a landlord and a tenant entering into a
renewal lease in a comparable building in Arlington, Virginia of comparable age,
comparable space, assuming the following: (a) the landlord and tenant are well
informed and well advised and each is acting in what it considers its own best
interests; (b) the rental is unaffected by concessions (other than those
concessions that are typical of comparable renewal transactions), special
financing amounts or terms, or unusual services, fees, costs, or credits in
connection with the leasing transaction, (c) the Premises are fit for immediate
occupancy and use "as is" and no work is required to be done by the landlord;
(d) the Premises are to be let with immediate possession upon commencement of
the Extension Period and subject to the provisions of this Lease (other than the
provisions as to the amount of the Base Rent) for the term of the Extension
Period (taking into account the provisions of this Lease, including, without
limitation, the provisions concerning Additional Rent payable hereunder); and
(e) the rental determined as the fair market rental rate as of the commencement
of the Extension Term will be subject to adjustment during the second and each
succeeding year of the Extension Term by application of the Escalation Factor
described below. Likewise, for purposes of this Lease, the term "Escalation
Factor" shall mean whatever periodic adjustment or factor, if any, that would be
agreed upon by a landlord and a tenant entering into a renewal lease in a
comparable building of comparable age, assuming the same assumptions set forth
in this Subsection.

39.  EXPANSION.

     A. Prior to December 31, 2003, Tenant or its approved successors or assigns
shall have the first right of refusal to lease the balance of the thirtieth
(30/th/) floor. In the event Landlord receives a serious written expression of
interest (as evidenced by a Letter of Intent) by an unrelated third party to
lease any portion of the thirtieth (30/th/) floor, Landlord shall notify Tenant
in writing and Tenant shall have seven (7) business days to accept or reject
leasing the balance of the thirtieth (30/th/) floor. If Tenant elects to lease
the balance of the thirtieth (30/th/) floor, the Base Rent for said space shall
be at Tenant's then escalated Base Rent and Tenant shall be granted the pro-rata
amount of the Tenant Allowance for said space the term of any such expansion
space shall expire at the end of the Term. In the event Tenant does not exercise
its right to the balance of the thirtieth (30/th/) floor by December 31, 2003,
then Landlord is free to lease said space to a third party.

     B. Right to Offer. In the event Tenant does not lease the balance of the
thirtieth (30/th/) floor as referenced in subsection A above and said space is
leased to a third party, and so long as Tenant is not then in Default of the
Lease and subject to the existing rights of other tenants in the Building,
Tenant or its approved successors or assigns shall have the right to negotiate
to lease any office suite on the thirtieth (30/th/) floor in the Building which
becomes available. Landlord shall give Tenant written notice that the suite
shall become available and Tenant shall have the option, which it may exercise
by written notice to Landlord within fifteen (15) days after the date of
Tenant's receipt of such notice, to lease the entire space then being offered.
Said suite shall be offered to Tenant at the then current market rate and terms
for a term to expire at the end of Tenant's Term or extension option as the case
may be. Provided, however, on the first (1/st/) day of the twelfth (12/th/)
month prior to the end of the Term, the rights under this Section 39 shall
terminate if Tenant has not exercised its renewal option.

        1. Landlord and Tenant shall negotiate in good faith the terms of Tenant
leasing additional space under this Section 39 to the then market rate and terms
for factoring in the duration of the remaining Term of the Lease. Unless
Landlord and Tenant reach an agreement with respect to said rental terms within
fifteen (15) days after the date of Landlord's receipt of Tenant's notice to
lease said suite, then Landlord is free to lease said suite to a third party at
the same rental rate offered to Tenant.

        2. If Tenant does not exercise its option pursuant to subsection A
above, Tenant's Right to Offer shall not terminate and if such space becomes
available again, Tenant shall have its Right of Offer in accordance with this
Section 39.

40.  FEES AND EXPENSES.

     If Tenant shall default in the observance or performance of any term or
covenant on Tenant's part to be observed or performed under or by virtue of any
of the terms of this Lease and the default continues beyond all applicable
notice and cure periods, Landlord may immediately, after the expiration of the
applicable notice and cure periods, or at any time thereafter and without
further notice perform the same for the account of Tenant, and if Landlord makes
any expenditures or incurs any obligations for payment of money in connection
therewith including, but not limited to, reasonable attorneys' fees in
instituting, prosecuting or defending any action or proceeding, such reasonable
sums paid or obligations incurred with interest and costs shall be deemed to be
Additional Rent hereunder and Landlord shall deliver to Tenant a reasonably
detailed accounting of Landlord's expenditures in connection therewith.

41.  NO REPRESENTATIONS BY LANDLORD.

     Landlord or Landlord's agents have made no representations or promises with
respect to the said Building or the Land, upon which it is erected or the
Premises except as herein expressly set forth and no rights, easements or
licenses are acquired by Tenant by implication or otherwise except as expressly
set forth in this Lease. The taking possession of the Premises by Tenant shall
be conclusive evidence, as against Tenant, that Tenant accepts the Premises as
an Air Conditioned Shell and that said Premises and

                                       20

<PAGE>

the Building were in good and satisfactory condition at the time such possession
was so taken, subject to the existence of latent defects in the base Building or
Building systems.

42.  TERMINATION OF THE EXISTING LEASE.

     Upon execution of this Lease by both Landlord and Tenant, Landlord shall
provide Tenant with a lease termination agreement in a form reasonably
acceptable to Tenant terminating Tenant's existing lease dated March 13, 2000
for a portion of the eighth (8/th/) floor in the Building which termination
shall be effective upon Tenant's vacating the same in its entirety.

43.  DE-AMORTIZATION OF THE TENANT ALLOWANCE.

     Provided Tenant provides written notice to Landlord on or before October 1,
2002, Tenant shall have the option to reduce the Base Rent by forfeiting its
right to the entire Tenant Allowance referenced in Section 3 hereof
("Deamortization"). In the event Tenant elects to exercise its right to the
Deamortization, then the Base Rent outlined in Section 4 shall be reduced to
$31.66 per rentable square feet per annum for the first Lease Year. Further, in
the event Tenant elects its right to the Deamortization, Landlord and Tenant
shall promptly execute an addendum to the Lease reflecting the modifications to
the Lease as a result of the Deamortization.

     IN WITNESS WHEREOF, Landlord and Tenant have executed this Deed of Lease
under seal as of the day and year first above written.

WITNESS:                                LANDLORD:  TWIN TOWERS II ASSOCIATES
                                                   LIMITED PARTNERSHIP

/s/  Lisa A Story                       By:  /s/  Timothy H. Helmig
-----------------                          ------------------------

WITNESS/ATTEST:                         TENANT:    MCG CAPITAL CORPORATION

/s/  Samuel G. Rubenstein               By:  /s/  Bryan J. Mitchell
-------------------------                  ------------------------

                                       21

<PAGE>

                                    EXHIBIT A

                          [Description To Be Provided]

                                       22

<PAGE>

                                    EXHIBIT B

                       DECLARATION BY LANDLORD AND TENANT
                    AS TO DATE OF DELIVERY AND ACCEPTANCE OF
                    POSSESSION, LEASE COMMENCEMENT DATE, ETC.

     THIS DECLARATION is hereby attached to and made a part of the Lease dated
the ____ day of ________________, 2002, entered into by and between
__________________________, as Landlord and __________________________, as
Tenant. All terms used in this Declaration have the same meaning as they have in
the Lease.

     (i)   Landlord and Tenant do hereby declare that possession of the Premises
was accepted by Tenant on the day of ____________, 20__;

     (ii)  As of the date hereof, the Lease is in full force and effect, and
Landlord has fulfilled all of its obligations under the Lease required to be
fulfilled by Landlord on or prior to said date;

     (iii) The Lease Commencement Date is hereby established to be ___________,
20__; and

     (iv)  The Lease Expiration Date is hereby established to be ______________,
unless the Lease is sooner terminated pursuant to any provision thereof.

                                         LANDLORD: ____________________________

                                         By: __________________________________

                                         TENANT: ______________________________

                                         By: __________________________________

                                         Its: _________________________________

                                      B-1

<PAGE>

                                    EXHIBIT C

                              AIR-CONDITIONED SHELL

The Demised Premises shall be demolished to the Base Building shell condition
and Landlord shall deliver the Demised Premises in an air-conditioned shell
which shall be defined as the following:

  1.  Core: The elevator lobby and core walls (including all mechanical and
      electrical rooms) will be spackled, taped and ready to receive Tenant's
      finishes and the common area on the thirtieth (30th) floor along with the
      demising walls shall be constructed in a Building Standard manner. Lessor
      will enclose the mechanical rooms on each floor. The enclosures shall be
      drywall, taped, spackled and readied for painting to 6" above the finished
      ceiling line. The Lessor is responsible for renovation of the elevator
      lobby on the 30th floor to building standard lobby finishes.

  2.  Core Restrooms: All core restrooms will be 100% complete, and the uni-sex
      handicap bathroom on the 30th and 31st floors shall be renovated to the
      new building standard condition within the past 16 months and in
      compliance with ADA requirements as enforced by Arlington County and
      building code requirements. The existing base Building men's and ladies
      room will include new ceiling grid, tiles and lights as well as new sink
      bowls along with its associated hardware. This includes installation of
      all necessary plumbing fixtures, mechanical and electrical systems and all
      surfaces will be completed, including floor, ceiling and walls in a
      Building Standard manner.

  3.  Floor: All concrete floors of the Demised Premises to be level in a
      Building Standard manner.

  4.  HVAC: The main HVAC trunk lines will be installed and connected to the
      Base Building air handlers in accordance with the Base Building design.
      Landlord shall provide new fan powered variable air volume units stacked
      on each floor in quantities sufficient for typical office use. These VAV
      units shall have the following minimum specification:

      VAV terminals:

      .  Fan powered series

      .  Reheat on perimeter, cooling only interior. Reheat for all terminals
         directly below a roof or above a non-conditioned space.

      .  Minimum one fan powered VAV per column bay for perimeter zones in
         office areas (considered to be within 15 feet of perimeter wall).
         Minimum one per 1,000 s.f. for interior zones for offices and general
         office use. Total quantity of VAV terminals shall be no less than 1 per
         700 rentable square feet for office areas.

      .  Landlord will make available a sufficient amount of the Building's
         condensers water supply to enable Tenant to tie into a reasonable
         amount of such supplemental system for areas such as large conference
         rooms or LAN rooms.

  5.  Electric: Main service to the Building and to each electrical closet on
      each floor will be completed per the Building Standard design. Typical
      electrical closets shall be designed to accommodate the following:

      .  5 watts per square foot available for tenant lighting and power, said 5
         watts excludes the base Building HVAC and standard Building lighting.

      .  Two (2) electrical closets per floor.

      .  Harmonic filter to be installed in the 2 electrical closets on each
         floor serving the premises.

  6.  Sprinkler: Main sprinkler loop system shall be installed per Base Building
      design.

  7.  Fire and Life Safety: Base Building fire and life safety system will be
      ready for tie in from Tenant's Work.

      Note: Portions of the air-conditioned shell shall be completed during
      Tenant's Work, including, but not limited to, completion of the upgraded
      electrical and mechanical systems and the Base Building restrooms. In no
      event shall Landlord's effort to substantially complete the
      air-conditioned shell delay Tenant's occupancy of the Demised Premises.
      Electrical and mechanical service will be provided to Tenant's contractor
      in a manner sufficient enough to allow said contractor to complete
      Tenant's Work.

                                      C-1

<PAGE>

                                    EXHIBIT D

                              RULES AND REGULATIONS

     The following rules and regulations have been formulated for the safety and
well-being of all the tenants of the Building. Adherence to these rules and
regulations by each and every tenant contributes to safe occupancy and quiet
enjoyment of the Building. Any violation of these rules and regulations by any
tenant which continues after notice from Landlord and a reasonable opportunity
to comply with or conform to the applicable rules and regulations shall be a
Default under such tenant's lease, at the option of Landlord. To the extent that
the rules and regulations promulgated by Landlord conflict with the terms of the
Lease, the Lease shall prevail.

     Landlord may, upon request by any tenant, waive compliance by such tenant
of any of the following rules and regulations, provided that (a) no waiver shall
be effective unless signed by Landlord or Landlord's authorized agent, (b) no
such waiver shall relieve any tenant from the obligation to comply with such
rule or regulation in the future, unless expressly consented to by Landlord, and
(c) no such waiver granted to any tenant shall relieve any other tenant from the
obligation of complying with said rule or regulation unless such other tenant
has received a similar waiver in writing from Landlord.

     1. The sidewalks, entrances, passages, courtyards, elevators, vestibules,
stairways, corridors, halls and other parts of the Building not occupied by any
tenant (hereinafter "Common Areas") shall not be obstructed or encumbered by any
tenant or used for any purposes other than ingress and egress to and from the
tenant's premises. No tenant shall permit the visit to its premises of persons
in such numbers or under such conditions as to interfere unreasonably with the
use and enjoyment of the Common Areas by other tenants.

     2. No awnings or other projections shall be attached to the outside walls
of the Building without the prior written consent of Landlord. No drapes,
blinds, shades or screens shall be attached to or hung in, or used in connection
with, any window or door of a tenant's premises, without the prior written
consent of Landlord. Such awnings, projections, curtains, blinds, screens and
other fixtures shall be of a quality, type, design and color reasonably
acceptable to Landlord and shall be attached in a manner approved by Landlord.

     3. No sign, advertisement, notice or other lettering shall be exhibited,
inscribed, painted or affixed by any tenant on any part of the outside or inside
of the tenant's premises or in the Building without the prior written consent of
Landlord. In the event of any violation of the foregoing by any tenant, Landlord
may remove the same without any liability and may charge the expense incurred by
such removal to the tenant or tenants responsible for violating this rule. All
interior signs on the doors and directory tablet of the Building shall be
inscribed, painted or affixed by Landlord at the expense of each tenant except
as otherwise provided in this Lease, and shall be of a size, color and style
reasonably acceptable to Landlord.

     4. No show cases or other articles shall be put in front of or affixed to
any part of the exterior of the Building, nor placed in the Common Areas without
the prior written consent of Landlord.

     5. The water and wash closets and other plumbing fixtures shall not be used
for any purposes other than those for which they were constructed, and no
sweepings, rubbish, rags or other substances shall be thrown therein. No tenant
shall throw anything out of the doors or windows or down any corridors of
stairs.

     6. Except as permitted by this Lease, there shall be no marking, painting,
drilling into or other form of defacing of or damage to any part of a tenant's
premises or the Building. No boring, cutting or stringing of wires shall be
permitted. No tenant shall construct, maintain, use of operate within its
premises or elsewhere within or on the outside of the Building, any electrical
device, wiring or apparatus in connection with a loud speaker system or other
sound system. Upon prior written approval by Landlord, a tenant may install
muzak or other internal music/paging system within the tenant's premises if the
music system cannot be heard outside of the premises.

     7. No tenant shall make or permit to be made any disturbing noises or
disturb or interfere with the occupants of the Building or neighboring buildings
or premises or those having business with them, whether by the use of any
musical instrument, radio, tape recorder, whistling, singing or any other way.

     8. No bicycles, vehicles, animals, birds or pets of any kind shall be
brought into or kept in or about a tenant's premises or in the Building accept
for those animals which assist handicap individuals. The foregoing rule is not
meant to and does not prohibit Tenant from keeping fish tanks in the Premises.

     9. No cooking shall be done or permitted by any tenant on its premises,
except that, with Landlord's prior written approval (including approval of plans
and specifications therefore), a tenant may install and operate for convenience
of its employees a lounge or coffee room with stove, sink and refrigerator;
provided that in so doing the tenant shall comply with all applicable building
code requirements and any insurance or other requirements specified by Landlord.
No tenant shall cause or permit any unusual or objectionable odors to originate
from its premises.

                                      D-1

<PAGE>

     10. No space in or about the Building shall be used for the manufacture,
storage, sale or auction of merchandise goods or property of any kind.

     11. No tenant shall buy or keep in the Building or its premises any
inflammable, combustible or explosive fluid, chemical or substance except for
ordinary cleaning materials and office supplies.

     12. No additional locks or bolts of any kind shall be placed upon any of
the doors or windows by any tenant, nor shall any changes be made in existing
locks or the mechanisms thereof. The doors leading to the corridors or main
halls shall be kept closed during business hours except as they may be used for
ingress and egress. Each tenant shall, upon the termination of its tenancy,
return to Landlord all keys used in connection with its premises, including any
keys to the premises, to rooms and offices within the premises, to storage rooms
and closets, to cabinets and other built-in furniture, and to toilet rooms,
whether or not such keys were furnished by Landlord or procured by the tenant,
and in the event of the loss of such keys, such tenant shall pay to Landlord the
cost of replacing the locks. On termination of a tenant's lease, the tenant
shall disclose to Landlord the combination of all locks for safes, safe cabinets
and vault doors, if any, remaining in the premises.

     13. All removals, or the carrying in or out of any safes, freight,
furniture or bulky matter of any description, must take place in such manner and
during such hours as Landlord may reasonably require. Landlord reserves the
right (but shall not have the obligation) to inspect all freight brought into
the Building and to exclude from the Building all freight which violates any of
these rules and regulations or any provision of any tenant's lease.

     14. Any person employed by any tenant to do janitorial work within the
tenant's premises must obtain Landlord's approval prior to commencing such work,
and such person shall comply with all instructions issued by the superintendent
of the Building while in the Building. No tenant shall engage or pay any
employees on the tenant's premises or in the Building, except those actually
working for such tenant on said premises.

     15. No tenant shall purchase spring water, ice, coffee, soft drinks, towels
or other like merchandise or service from any company or person who has, in
Landlord's opinion committed violations of Building regulations or caused a
hazard or nuisance to the Building and/or its occupants.

     16. Landlord shall have the right to prohibit any advertising by any tenant
which, in Landlord's opinion, tends to impair the reputation or desirability of
the Building as a building for offices and, upon written notice from Landlord,
such tenant shall refrain from and discontinue such advertising.

     17. Landlord reserves the right to exclude from the Building at all times
any person who is not known or does not properly identify himself to the
Building's management or its agents. Landlord may at its option require all
persons admitted to or leaving the Building to register between the hours of 6
p.m. and 8 a.m., Monday through Friday, and all times on Saturdays, Sundays and
holidays. Each tenant shall be responsible for all persons for whom it
authorized entry into the Building, and shall be liable to Landlord for all acts
of such persons.

     18. Each tenant shall see that all lights are turned off before closing and
leaving its premises at any time.

     19. The requirements of tenants will be attended to only upon application
at the office of the Building. Building employees have been instructed not to
perform any work or do anything outside of their regular duties, except with
special instructions from the management of the Building.

     20. Canvassing, soliciting and peddling in the Building is prohibited, and
each tenant shall cooperate to prevent the same.

     21. No water cooler, plumbing or electrical fixture shall be installed by
tenant without Landlord's prior written consent.

     22. No hand trucks, except those equipped with rubber tires and side
guards, shall be used to deliver or receive any merchandise in any space or in
the Common Areas of the Building, either by tenant or its agents or contractors.

     23. Access plates to under floor conduits shall be left exposed. Where
carpet is installed, carpet shall be cut around the access plates.

     24. Mats, trash and other objects shall not be placed in the public
corridors.

     25. At least once a year, each tenant at its own expense shall clean all
drapes installed by Landlord for the use of the tenant and any drapes installed
by the tenant which are visible from the exterior of the Building.

     26. Landlord shall not maintain suite finishes which are non-standard such
as kitchens, bathrooms, wallpaper, special lights, etc. However, should the need
for repairs arise, Landlord shall arrange for the work to be done at tenant's
expense.

     27. Landlord's employees are prohibited from receiving articles delivered
to the Building and, if any such employee receives any article for any tenant,
such employee shall be acting as the agent of such tenant for such purposes.

                                      D-2

<PAGE>

                                    EXHIBIT E

                       SPECIFICATIONS FOR OFFICE CLEANING

I.   PREMISES: (Includes office areas, kitchen, stock rooms, photocopying rooms
and conference rooms.)

      Daily
         1.  Collect trash.
         2.  Empty ash trays; damp wipe clean.
         3.  Dust furniture, desks, machines, phones, file cabinets, window
             ledges, etc. (Papers left on desk will not be disturbed).
         4.  Vacuum carpet; dry sweep resilient tile and wood floors, spot
             clean.
         5.  Spot clean walls, carpet, doors, and partitions.
      Weekly
         1.  Vacuum upholstered furniture.
      Monthly
         1.   Recondition resilient tile floors.
         2.   Dust picture frames, charts, graphs, etc.
         3.   Vacuum air vents.
      Quarterly
         1.   Clean partitions.
         2.   Dust vertical surfaces; walls, etc.

II.  WINDOWS

         1.  Dust and clean Venetian blinds as needed.
         2.  All exterior and interior windows will be washed at least twice a
             year or more often if it becomes the custom in the area.

III. DOORS AND LIGHTS

      Daily
         1.  Turn off lights and check all doors on completion of work.

IV.  TRASH

      Daily
         1.  Deposit all trash in the designated area.
             (Note: Only trash placed in waste containers, or clearly marked
             "TRASH" will be removed.

V.   PRIVATE LAVATORIES AND KITCHENS

      Daily
         1.  Remove all trash, garbage and refuse.
         2.  Clean and disinfect all toilet bowls, wash bowls and urinals.
      As needed
         1.  Wash or wipe all surfaces in rest rooms.

VI.  PUBLIC AREAS

  (a) Lavatories
      Daily
         1.  Clean and disinfect all toilet bowls, wash bowls and urinals.
         2.  Re-supply all dispensers.
      As needed
         1.  Wash or wipe all surfaces in rest rooms.

  (b) Corridors
      Daily
         1.  Collect trash.
         2.  Empty ash trays; damp wipe clean.
         3.  Vacuum carpet, dry sweep resilient tile and wood floor spot clean.
         4.  Spot clean walls and doors.
         5.  Spot clean carpet.

(Note: where possible, spots and spills that are soluble and respond to standard
spotting procedures will be removed.)

                                      E-1

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