Document:

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                                                                  EXHIBIT 10.13

[OPTIMARK TECHNOLOGIES, INC. LOGO]     10 Exchange Place, Jersey City, NJ 07302
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BY E-MAIL AND TELEFACSIMILE

PRIVATE & CONFIDENTIAL

November 15, 1999

William F. Adiletta
66 Petty Road
Cranbury, New Jersey  08512

Re:      Separation Agreement and General Release

Dear Bill:

This letter (the "Letter Agreement") confirms the termination of your
employment as Executive Vice President of OptiMark Technologies, Inc.
("OptiMark") and as President of the NASDAQ Business Division of OptiMark,
effective immediately. By signing this Letter Agreement, you agree to the
following terms and conditions:

        A. Subject to the provisions of this Letter Agreement, OptiMark will
provide you with the following separation payments and benefits:

        1. OptiMark will pay you as severance the amount of $450,000.00,
           minus the deductions required by law, which represents the sum
           of (a) twelve (12) months of your current base salary, (b) all
           bonuses you received during the preceding twelve (12) month
           period, and (c) $25,000 (collectively, the "Severance
           Payment"). The Severance Payment will be paid to you according
           to the following schedule:

           (a) One-third of the Severance Payment will be paid to
               you within three (3) business days of the date that
               this Letter Agreement becomes effective in accordance
               with its terms;

           (b) One-third of the Severance Payment will be paid to you on the
               first business day following January 1, 2000; and

           (c) The final one-third of the Severance Payment will be paid to you
               in equal semi-monthly installments, by keeping you on OptiMark's
               payroll for a period of six (6) months, from January 1, 2000
               through June 30, 2000 (the "Severance Period").

Your coverage, and the coverage of your eligible dependents, under OptiMark's
group health plan will continue during the Severance Period with OptiMark and
you making the same percentage of contributions as each did as of November 8,
1999. Thereafter, you may continue your coverage as part of your entitlement
under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA").
(See reference to COBRA in paragraph C.2, below.)

<PAGE>   2

2.    Subject to your continued compliance with the terms and
      conditions of this Letter Agreement, fifty percent (50%) of
      any options granted to you pursuant to OptiMark's Incentive
      Stock Agreement and OptiMark's Non-Qualified Stock Option
      Agreement which were scheduled to vest after November 1, 1999
      shall be treated as vested on the date hereof as if you had
      remained in OptiMark's employ. In addition, you will have
      until November 1, 2002, to exercise all vested options,
      including those otherwise unvested options considered vested
      per the preceding sentence.

3.    You will be provided with a Letter of Reference that is
      mutually satisfactory to you and OptiMark, which shall
      indicate that the termination of your employment was due to
      your voluntary resignation.

4.    Except as provided in paragraph C.1 below, the separation
      payments and benefits described in this Section A represent
      the total amount that will be paid to you and are in lieu of
      any rights to other payments or benefits which you might have
      been eligible to receive as an employee of OptiMark. If you
      breach any of the terms of this Letter Agreement, OptiMark
      will cease making any payments or providing any benefits
      recited herein.

5.    You will have the option of purchasing any OptiMark equipment
      currently in your possession at a price which is reflective of
      OptiMark's book value and which shall be determined in
      OptiMark's sole discretion.

B.    IN CONSIDERATION OF OPTIMARK'S PROVIDING THOSE SEPARATION PAYMENTS AND
BENEFITS DESCRIBED IN SECTION A ABOVE, TO WHICH YOU ARE NOT OTHERWISE ENTITLED,
YOU VOLUNTARILY AGREE TO THE FOLLOWING:

1.    You will sign the General Release attached hereto as Exhibit 1.

2.    You will tender your written resignation from all positions
      you hold with OptiMark or any of its affiliates, which shall
      include your resignation from all Boards of Directors of which
      you are a member and your surrender of all official titles.

3.    You will return to Felice Schulaner all records and materials
      you have in your possession, custody or control that are the
      property of OptiMark no later than November 30, 1999, except
      for property that you have elected to purchase in accordance
      with Section A.6 above.

4.    You will comply with all of the terms and conditions of the
      Employee Agreement (Version II) that you executed on or about
      July 16, 1997, which is incorporated herein and made a part of
      this Letter Agreement; provided, however, that you may hire or
      otherwise retain the services of any former employee of
      OptiMark whose employment was involuntarily terminated by
      OptiMark, subject to your and such former employee's continued
      compliance with all applicable restrictions contained in the
      Employee Agreement (Version II) or any similar agreement which
      the former employee may have signed.

5.    You will not disclose the contents or substance of this Letter
      Agreement or the General Release to anyone except your
      immediate family and any tax, or legal counsel you have

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      consulted regarding the meaning or effect hereof, and you will
      instruct each of the foregoing not to disclose the same.

6.    You will not make any disparaging remarks about OptiMark, or
      any of its present and former directors, officers, agents,
      representatives or employees, to any third parties in a
      business context, including current and potential clients of
      OptiMark. Similarly, OptiMark, in its corporate capacity, will
      not make disparaging remarks about you to any third parties in
      a business context, including current and potential clients of
      OptiMark.

7.    You agree to make yourself reasonably available to OptiMark
      and its representatives in connection with the prosecution and
      defense of any legal proceedings involving matters of which
      you may have relevant knowledge. OptiMark will reimburse you
      for such reasonable expenses as you may incur in providing
      such assistance upon your submission of appropriate
      documentation.

8.    Any dispute arising under this Letter Agreement shall be
      resolved through arbitration sponsored by, and in accordance
      with the rules of, the American Arbitration Association, with
      proceedings conducted by a panel of three arbitrators in
      Newark, New Jersey. In any such proceeding, the arbitration
      panel may award costs and expenses (including reasonable
      attorneys' fees) to the prevailing party. Notwithstanding the
      foregoing, OptiMark shall remain entitled to apply to a court
      of competent jurisdiction to obtain injunctive or other
      equitable relief in the event of your alleged violation of
      Section B.4 above, which shall be in addition to any other
      remedies that may be available to OptiMark.

C.    This Letter Agreement does not affect your entitlement to previously
accrued or vested benefits, which are summarized as follows:

1.    You acknowledge that on November 11, 1999, you were paid the
      sum of $36,778.14, minus applicable withholdings, representing
      all vacation accrued but unused as of November 8, 1999.

2.    Your coverage under OptiMark's group health plan will cease at
      the end of the Severance Period. You will be given separate
      information regarding your right to continue your coverage, as
      required by COBRA.

3.    Your participation in OptiMark's 401k Plan will terminate on
      November 30, 1999. Your rights under these plans will be
      determined by law and in accordance with the terms of the
      plan. A statement of your benefits under the plans will be
      provided to you separately.

By entering into this Letter Agreement, OptiMark does not admit, and
specifically denies, any liability, wrongdoing or violation of any law, statute,
regulation or policy, and it is expressly understood and agreed that this Letter
Agreement is being entered into solely for the purpose of amicably resolving all
matters in controversy of any kind whatsoever concerning your employment and the
termination of your employment. Moreover, by signing this Letter Agreement you
acknowledge that you are not currently aware of any wrongdoing on the part of
OptiMark.

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Because by signing this Letter Agreement and the General Release you are
releasing OptiMark from all claims you might have and you are acknowledging that
no other payments or benefits are due and owing to you, you should review both
documents carefully before signing them. You can take up to twenty-one (21) days
from your receipt of this Letter Agreement to consider its meaning and effect
and to determine whether or not you wish to enter into it. During that time, you
are advised to consult with an attorney.

To receive your separation payments and other benefits, you must sign and return
this Letter Agreement and the General Release no later than twenty-one (21) days
after receiving them. In addition, you may take up to seven (7) days after
executing both documents to revoke your signature. No payments will be made
until the revocation period has expired without your revocation. Any revocation
is requested to be in writing and delivered to OptiMark by hand and marked
"Attention: Felice Schulaner."

THE PAYMENTS AND BENEFITS DESCRIBED IN SECTION A ARE BEING OFFERED FOR THE
PURPOSE OF RESOLVING ALL MATTERS IN DISPUTE BETWEEN YOU AND OPTIMARK WITHOUT
LITIGATION. IF YOU CHOOSE NOT TO SIGN THIS LETTER AGREEMENT AND THE GENERAL
RELEASE, YOU WILL BE PAID THE AMOUNT DUE TO YOU PURSUANT TO THE EMPLOYEE
AGREEMENT (VERSION II) IN EXCHANGE FOR YOUR COMPLIANCE WITH THE TERMS AND
CONDITIONS THEREOF, BUT NO OTHER PAYMENTS OR BENEFITS WILL BE MADE OR PROVIDED
TO YOU. THE REMAINING PAYMENTS AND BENEFITS OFFERED TO YOU, HAVING BEEN OFFERED
ON THE CONDITIONS STATED, MAY NOT BE ENTERED INTO EVIDENCE OR OTHERWISE USED
AGAINST OPTIMARK IN ANY LITIGATION.

This Letter Agreement and the General Release contain the entire agreement
between the parties concerning the subject matter hereof and supersede all
prior agreements, understandings, discussions, negotiations and undertakings,
whether written or oral, express or implied, between the parties with respect
hereto. No representations, inducements, promises or agreements not embodied
herein shall be of any force or effect. This Letter Agreement and the General
Release will be construed in accordance with and governed by the State and
Federal laws applicable in New Jersey. Neither document may be changed or
altered, except in writing signed by OptiMark and you. If any clause of this
Letter Agreement or the General Release is determined to be unenforceable, it
is agreed that this will not affect the enforceability of any other clause or
the remainder of either document.

If you have any questions about your separation benefits, please contact Felice
Schulaner at 201-536-7111.

Very truly yours,

/s/  Phillip Riese
Chief Executive Officer

Agreed to and Accepted By:

/s/  William F. Adiletta

Date:  November 15, 1999

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                                 GENERAL RELEASE
                                       BY
                               WILLIAM F. ADILETTA

         I, WILLIAM F. ADILETTA, in consideration of and subject to the terms
and conditions set out in the letter ("Letter Agreement") to which this General
Release is attached, and other good and valuable consideration, do hereby
release and forever discharge OPTIMARK TECHNOLOGIES, INC. ("OptiMark") and all
of its offices, branches, parents, subsidiaries and affiliates and its present
and former directors, officers, agents, representatives, employees, successors
and assigns, from any and all actions, causes of action, covenants, contracts,
claims and demands whatsoever, which I ever had, now have or which my heirs,
executors, administrators and assigns, or any of them hereafter can, shall or
may have by reason of my employment with or severance of my employment from
OptiMark on or about the 8th day of November, 1999.

         By signing this General Release, I am providing a complete waiver of
all rights and claims that may have arisen, whether known or unknown, up until
the time this General Release is signed. This includes, but is not limited to,
claims based on Title VII of the Civil Rights Act of 1964, the Civil Rights Act
of 1866, the Age Discrimination in Employment Act of 1967 (including the Older
Workers Benefit Protection Act), the Americans with Disabilities Act, the Fair
Labor Standards Act, the Equal Pay Act, the Family and Medical Leave Act, the
Employee Retirement Income Security Act of 1974, the New Jersey Law Against
Discrimination, the New Jersey Labor Laws or any common law, public policy,
contract (whether oral or written, express or implied) or tort law, and any
other local, state or federal law, regulation or ordinance having any bearing
whatsoever on the terms and conditions of my employment and the cessation
thereof. However, I am not releasing any claims I may have that OptiMark
breached the Letter Agreement to which this General Release is attached.

         In addition to waiving my right to file any charge or complaint on my
own behalf, I am waiving my right to participate in any charge or complaint
which may be made by any other person or organization on my behalf before any
federal, state or local court or administrative agency against OptiMark, except
as such waiver is prohibited by law and except to the extent that such
participation is ordered by subpoena or by a court of competent jurisdiction.
Should any charge be filed, I agree that I will not accept any relief or
recovery therefrom.

         I hereby represent that neither I nor anyone acting on my behalf has
filed or will file any action, complaint, charge, grievance or arbitration or
commenced any proceeding, administrative or judicial, against OptiMark or any of
its past or present offices, branches, parents, subsidiaries and affiliates or
its past or present directors, officers, agents, representatives, employees,
successors or assigns.

         I have been given twenty-one (21) days to review the Letter Agreement
and this General Release and to consult with legal counsel, and I am signing
this General Release knowingly, voluntarily and with full understanding of its
terms and effects, and I voluntarily accept the amounts provided for in the
Letter Agreement for the purpose of making full and final settlement of all
claims referred to above. I also understand that this General Release will not
become effective if I revoke my signature within seven (7) days of execution.

         The Letter Agreement and this General Release will be governed by and
construed in accordance with the State and Federal laws applicable in the State
of New Jersey. If any provision in the Letter Agreement or this General Release
is held invalid or unenforceable for any reason, the

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remaining provisions shall be construed as if the invalid or unenforceable
provision had not been included.

In witness hereof, I have executed this General Release this 15th day of
November, 1999.

/s/  William F. Adiletta

State of New York      )
                       ) ss.:
County of New York     )

On this 15th day of November, 1999, before me, a Notary Public of the State of
New York, personally appeared William F. Adiletta to me known and known to me
to be the person described and who executed the foregoing Letter Agreement and
General Release and did then and there acknowledge to me that he voluntarily
executed the same.

/s/  Muriel B. Finkelstein
Notary Public, State of New York
No. 31-4735274
Qualified in New York County
Commission Expires April 30, 2001<PAGE>   1
                                                                   EXHIBIT 10.14
                          OPTIMARK TECHNOLOGIES, INC.

                      RESTRICTED STOCK PURCHASE AGREEMENT

         THIS AGREEMENT is made as of December 1, 1998, between OptiMark
Technologies, Inc., a Delaware corporation (the "Company"), and Phillip J.
Riese (the "Purchaser").

         WHEREAS in order to give the Purchaser an opportunity to acquire an
equity interest in the Company as an incentive for the Purchaser to participate
in the affairs of the Company, the Company is willing to sell to the Purchaser
and the Purchaser desires to purchase shares of Common Stock according to the
terms and conditions contained in the Employment Agreement between the
Purchaser and the Company effective as of November 1, 1998 (the "Employment
Agreement") and the Amended and Restated Stockholders Agreement dated April 23,
1998, as amended, among the Company and the signatories to such Agreement (the
"Stockholders Agreement") and herein.

         THEREFORE, the parties agree as follows:

         1.      Sale of Stock.  The Company hereby agrees to sell to the
Purchaser and the Purchaser hereby agrees to purchase an aggregate of 100,000
shares of the Company's Common Stock, par value $.01 per share (the "Shares"),
at the price of $10.00 per share for an aggregate purchase price of $1,000,000.

         2.      Payment of Purchase Price.

                 (a)      The purchase price for the Shares may be paid by
delivery to the Company at the time of execution of this Agreement of cash,
check, duly executed full recourse promissory note in the form attached hereto
as Exhibit A (the "Note"), or any combination thereof.

                 (b)      With respect to the Note, the parties agree to the
following:

                          (i)     The Note shall become payable in full upon
the earlier of (i) November 1, 1999 or (ii) fifteen (15) days following
termination of Purchaser's employment with the Company for any reason.

                          (ii)    The Purchaser shall deliver to the Company
(the "Escrow Holder") all certificates representing the Shares and two executed
blank stock assignments, in the form attached hereto as Exhibit B, for use in
transferring all or a portion of said Shares to the Company, as required under
this Section 2(b) or under any other provision of this Agreement including
Section 3.

                          (iii)   Upon full payment by the Purchaser of all
amounts due on Purchaser's Note, the Escrow Holder shall deliver to the
Purchaser the certificate or certificates representing the Shares in the Escrow
Holder's possession belonging to the Purchaser, the blank stock assignment and
the executed original of the Note marked "canceled" by the Company, and the
Escrow Holder shall be

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discharged of all further obligations hereunder; provided, however, that the
Escrow Holder shall nevertheless retain said certificate or certificates and
stock assignment as escrow agent if so required pursuant to other restrictions
imposed pursuant to this Agreement.

         3.      Repurchase Requirement.  If, prior to November 1, 1999 (i) the
Company terminates the Purchaser's employment for "Cause," or (ii) the
Purchaser terminates his employment voluntarily other than for "Good Reason"
(as those terms are defined in the Employment Agreement), the Company shall,
within 90 days from such termination date, repurchase all (but not less than
all) of the Shares that shall constitute the Unreleased Shares (as defined in
Section 4) at such time, at the original purchase price of $10.00 per share
(the "Repurchase Price").  Such repurchase shall be effected by the Company by
written notice to the Purchaser (with a copy to the Escrow Holder) and, at the
Company's option, (i) by delivery to the Purchaser with such notice of a check
in the amount of the purchase price for the Shares being repurchased, or (ii)
by cancellation by the Company of an amount of the Purchaser's indebtedness to
the Company equal to the purchase price for the Shares being repurchased, or
(iii) by a combination of (i) and (ii) so that the combined payment and
cancellation of indebtedness equals the aggregate Repurchase Price.  Upon
delivery of such notice and the payment of the purchase price in any of the
ways described above, the Company shall become the legal and beneficial owner
of the Shares being repurchased and all rights and interests therein or
relating thereto, and the Company shall have the right to retain and transfer
to its own name the number of Shares being repurchased by the Company.

         4.      Release of Shares From Repurchase Requirement.

                 (a)      Shares shall be released from the Company's
repurchase requirement on November 1, 1999, provided the Purchaser is employed
by the Company on such date, or, if earlier, upon termination of the
Purchaser's employment with the Company (i) by the Company for any reason other
than "Cause," (ii) by the Purchaser for "Good Reason," or (iii) as a result of
Purchaser's death or "Disability" (as such terms are defined in the Employment
Agreement).

                 (b)      Any of the Shares that have not yet been released
from the Company's repurchase requirement are referred to herein as "Unreleased
Shares."

                 (c)      The Shares that (i) have been released from the
Company's repurchase requirement and (ii) have been paid for in full, shall be
delivered to the Purchaser at the Purchaser's request.

         5.      Restriction on Transfer.  None of the Shares or any beneficial
interest therein shall be transferred, encumbered or otherwise disposed of in
any manner, except for the deposit of the Shares with the Company pursuant to
Section 2 hereof or the release of the Shares to the Company pursuant to
Section 3 hereof, until the release of such Shares from the Company's
repurchase requirement in accordance with the provisions of this Agreement.

         6.      Stock Adjustments.  If after the date of issuance of the
Shares to the Purchaser under this Agreement the Company shall issue any
additional shares of its Common Stock to holders of such Common Stock, by way
of dividend or stock split or other distribution, or if any shares of capital
stock

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or other securities or other consideration of the Company or of any other
corporation are issued in exchange for, or with respect to, the Shares issued
hereunder pursuant to any recapitalization, merger, sale of assets, liquidation
or other reorganization (collectively, "Reorganization"), regardless of whether
the Company shall survive such Reorganization, all of such Shares , capital
stock and other securities or other consideration shall be treated as if they
were Shares acquired by the Purchaser under this Agreement and shall be ratably
subject to all provisions of this Agreement (including, without limitation, the
Company's Repurchase Requirement) as if they were Shares issued to the
Purchaser hereunder.

         7.      Investment Representations.  In connection with the purchase
of the Shares, the Purchaser represents to the Company the following:

                 (a)      The Purchaser is aware of the Company's business
affairs and financial condition and has acquired sufficient information about
the Company to reach an informed and knowledgeable decision to acquire the
securities.  The Purchaser is purchasing these securities for investment for
the Purchaser's own account only and not with a view to, or for resale in
connection with, any "distribution" thereof within the meaning of the
Securities Act of 1933, as amended (the "Securities Act").

                 (b)      Purchaser acknowledges and understands that the
Securities constitute "restricted securities" under the Securities Act and have
not been registered under the Securities Act in reliance upon a specific
exemption therefrom, which exemption depends upon, among other things, the bona
fide nature of Purchaser's investment intent as expressed herein.  Purchaser
further understands that the Securities must be held indefinitely unless they
are subsequently registered under the Securities Act or an exemption from such
registration is available.  Purchaser further acknowledges and understands that
the Company is under no obligation to register the Securities.

         8.      Stock Certificate Legends.

                 (a)      Purchaser understands and agrees that the Company
shall cause the legends set forth below or legends substantially equivalent
thereto, to be placed upon any certificate(s) evidencing ownership of the
Shares together with any other legends that may be required by the Company or
by applicable state or federal securities laws:

                 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED
                 UNDER THE SECURITIES ACT OF 1933 (THE "ACT") OR THE SECURITIES
                 LAWS OF ANY STATE.  THE SECURITIES MAY NOT BE TRANSFERRED
                 EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER
                 THE ACT AND APPLICABLE SECURITIES LAWS OR PURSUANT TO A
                 WRITTEN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE
                 COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

                 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
                 CERTAIN RESTRICTIONS ON TRANSFER AND A

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                 REPURCHASE REQUIREMENT HELD BY THE ISSUER OR ITS ASSIGNEE(S)
                 AS SET FORTH IN THE RESTRICTED STOCK PURCHASE AGREEMENT
                 BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A
                 COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE
                 ISSUER.  SUCH TRANSFER RESTRICTIONS AND REPURCHASE REQUIREMENT
                 ARE BINDING ON TRANSFEREES OF THESE SHARES.

                 (b)      Stop-Transfer Notices.  Purchaser agrees that, in
order to ensure compliance with the restrictions referred to herein, the
Company may issue appropriate "stop transfer" instructions to its transfer
agent, if any, and that, if the Company transfers its own securities, it may
make appropriate notations to the same effect in its own records.

                 (c)      Refusal to Transfer.  The Company shall not be
required (i) to transfer on its books any Shares that have been sold or
otherwise transferred in violation of any of the provisions of this Agreement
or (ii) to treat as owner of such Shares or to accord the right to vote or pay
dividends to any purchaser or other transferee to whom such Shares shall have
been so transferred.

         9.      Tax Consequences.  The Purchaser has reviewed with the
Purchaser's own tax advisors the federal, state, local and foreign tax
consequences of this investment and the transactions contemplated by this
Agreement. The Purchaser is relying solely on such advisors and not on any
statements or representations of the Company or any of its agents.  The
Purchaser understands that the Purchaser (and not the Company) shall be
responsible for the Purchaser's own tax liability that may arise as a result of
this investment or the transactions contemplated by this Agreement.  The
Purchaser understands that Section 83 of the Internal Revenue Code of 1986, as
amended (the "Code"), taxes as ordinary income the difference between the
amount paid for the Shares and the fair market value of the Shares as of the
date any restrictions on the Shares lapse.  In this context, "restriction"
includes the obligation of the Company to buy back the Shares pursuant to its
repurchase requirement.  The Purchaser understands that the Purchaser may elect
to be taxed at the time the Shares are purchased rather than when and as the
Company's repurchase requirement lapses by filing an election under Section
83(b) of the Code with the I.R.S. within 30 days from the date of purchase.

                 THE PURCHASER ACKNOWLEDGES THAT IT IS THE PURCHASER'S SOLE
RESPONSIBILITY AND NOT THE COMPANY'S TO FILE TIMELY THE ELECTION UNDER SECTION
83(b), EVEN IF THE PURCHASER REQUESTS THE COMPANY OR ITS REPRESENTATIVES TO
MAKE THIS FILING ON THE PURCHASER'S BEHALF.

         10.     General Provisions.

                 (a)      This Agreement shall be governed by the laws of the
State of New York as they apply to contracts entered into and wholly to be
performed in such state.  This Agreement, together with the Employment
Agreement and the Stockholders Agreement,  represent the entire agreement
between

<PAGE>   5
the parties with respect to the purchase of Common Stock by the Purchaser and
may only be modified or amended in writing signed by both parties.

                 (b)      Any dispute, claim or controversy of any kind
(including but not limited to tort, contract and statute) arising on or before
November 1, 1999 under, in connection with, or relating to this Agreement,
shall at the request of either party be resolved exclusively by arbitration in
accordance with Section 20 of the Employment Agreement.

                 (c)      All notices, demands or other communications provided
for or permitted hereunder shall be made in writing and shall be registered or
certified first class mail, return receipt requested, courier service, outright
mail or personal delivery:

                          If to the Company:
                          ------------------

                          OptiMark Technologies, Inc.
                          530 Main Avenue
                          Durango, CO  81301
                          Attention:  William A. Lupien

                          If to the Purchaser:
                          --------------------

                          Phillip J. Riese
                          141 Prince Street, Apt. 4
                          New York, NY  10012

                 (d)      The rights and benefits of the Company under this
Agreement shall be transferable in the case of a sale of substantially all of
the assets of the Company to any one or more persons or entities, and all
covenants and agreements hereunder shall inure to the benefit of, and be
enforceable by the Company's successors and assigns.  The rights and
obligations of the Purchaser under this Agreement may only be assigned with the
prior written consent of  the Company.

                 (e)      Either party's failure to enforce any provision or
provisions of this Agreement shall not in any way be construed as a waiver of
any such provision or provisions, nor prevent that party thereafter from
enforcing each and every other provision of this Agreement.  The rights granted
both parties herein are cumulative and shall not constitute a waiver of either
party's right to assert all other legal remedies available to it under the
circumstances.

                 (f)      The Purchaser agrees upon request to execute any
further documents or instruments necessary or desirable to carry out the
purposes or intent of this Agreement.

                 (g)      Purchaser acknowledges and agrees that this Agreement
and the transactions contemplated hereunder do not constitute an express or
implied promise of continued engagement as an employee or consultant for any
period, or at all, and shall not interfere with Purchaser's right or the

<PAGE>   6
Company's right to terminate Purchaser's employment or consulting relationship
at any time, with or without cause.

                 (h)      Purchaser has reviewed this Agreement in its
entirety, has had an opportunity to obtain the advice of counsel prior to
executing this Agreement and fully understands all provisions of this
Agreement.

                 (i)      This Agreement may be executed by either of the
parties hereto in one or more counterparts, none of which need contain the
signature of more than one party hereto, and each of which shall be deemed an
original, and all of which together shall constitute a single agreement.

         IN WITNESS WHEREOF, the parties have duly executed this Agreement as
of the day and year first set forth above.

<TABLE>
<S>                                                         <C>
OPTIMARK TECHNOLOGIES, INC.                                 PURCHASER:  Phillip J. Riese
a Delaware corporation

By: /s/  William A. Lupien                                  By:  /s/  Phillip J. Riese
         ------------------------------------------                   -----------------------------------------
                                                                     (Signature)

Title: Chairman
       --------------------------------------------
         (Type or Print Name)                               141 Prince Street
                                                            ---------------------------------------------------

                                                            New York
                                                            ---------------------------------------------------
                                                            (Address)
</TABLE>

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