Document:

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                                                                    EXHIBIT 10.9

            SECOND AMENDMENT TO ELECTRO-OPTICAL SCIENCES, INC. LEASE

This amendment is made the 19th day of June, 2003. by and between Bridge Street
Properties. LLC, a New York Limited Liability Company having an office at One
Bridge Street, Irvington, New York 10533, and Electro-Optical Sciences, Inc., a
Corporation having an office at One Bridge Street, Irvington, New York 10533.

                                   Witnesseth:

      Whereas. Owner (Bridge Street Properties. LLC) and Tenant (Electro-Optical
Sciences, Inc.) entered into a lease dated December 16th, 1998 of certain
premises located at One Bridge Street, Irvington New York and

      Whereas, the term of the lease set forth therein is three years commencing
upon, December 16, 1998 and ending upon December 15, 2001 and

      Now. Therefore, the parties hereto agree as follows:

      1.    The term set forth herein will be two years, fifteen days and
            commence June 16, 2003, and end on June 30, 2005.

      2.    The rate to be paid monthly / yearly will be as follows:

            See attached Lease Terms Proposal

      3.    Continuation of Lease Provisions: Except as amended herein, all
            other terms and conditions of the Lease shall remain in full force
            and effect for the duration of the Lease.

/s/ William Thompson                     /s/ Marek Elbaum
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Bridge Street Properties, LLC            Electro-Optical Sciences, Inc.

Member                                   Chief Operating Officer
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Title                                    Title<PAGE>

                                                                   EXHIBIT 10.10

AGREEMENT OF LEASE, made as of this 23 day of November, 2004 between

Bridge Street Properties LLC having an address at One Bridge Street, Irvington.
New York 10533, hereinafter referred to as OWNER, and Electro-Optical Sciences,
Inc., having an address at 3 West Main Street, Suite 201, Irvington, New York
10533, hereinafter referred to as TENANT,

WITNESSETH: Owner hereby leases to Tenant and Tenant hereby hires from Owner
certain premises known as Suite 201 (the "Demised Premises" or the "Premises"),
located on the second floor in the building known as 3 West Main Street] (the
"building") in the Village of Irvington, State of New York 10533, for the term
as set forth in Article 39 of the Lease Rider (or until such term shall sooner
cease and expire as hereinafter provided) at an annual rental rate as set forth
in Article 37 of the Lease Rider which Tenant agrees to pay in lawful money of
the United States which shall be legal tender in payment of all debts and dues,
public and private, at the time of payment, in equal monthly installments in
advance on the first day of each month during said term, at the office of Owner
or such other place as Owner may designate, without any set off or deduction
whatsoever, except that Tenant shall pay the first monthly installment on the
execution hereof. Owner and Tenant agree, for the purposes of this Lease, that
the rentable square footage area of the Demised Premises and the building shall
be deemed to be [3,188 square feet subject to verification] and [24,600 square
feet subject to verification], respectively.

      The parties hereto, for themselves, their heirs, distributees, executors,
administrators, legal representatives, successors and assigns, hereby covenant
as follows:

Rent:                         1. Tenant shall pay the rent as above and as
                              hereinafter provided, except as may be set forth
                              in this Lease.

Occupancy:                    2. Tenant shall use and occupy the Demised
                              Premises for general office use and for other uses
                              ancillary thereto and for no other purpose.

Tenant:                       3. Tenant shall make no changes in or to the
                              demised Premises of any nature without Owner's
                              prior written consent, not to be unreasonably
                              withheld, conditioned or delayed. Landlord hereby
                              approves the Plans for Tenant's initial
                              Alterations to the Premises (the "Initial
                              Alterations") set forth in Exhibit I attached
                              hereto and made a part hereof. Notwithstanding
                              anything to the contrary contained in this Lease,
                              Tenant shall have the right to construct the
                              Initial Alterations in accordance the approved
                              Plans. Following the Initial Alterations, subject
                              to the prior written consent of Owner, not to be
                              unreasonably withheld, conditioned or delayed, and
                              to the provisions of this article, Tenant at

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                              Tenant's expense, may make alterations,
                              installations, additions or improvements
                              ("Alterations") which are nonstructural, and which
                              do not adversely affect utility services or
                              plumbing and electrical lines, in the Building by
                              using contractors or mechanics first approved by
                              Owner, which approval shall not be unreasonably
                              withheld or delayed. Except as set forth herein
                              Tenant shall, before making any alterations,
                              additions, installations or improvements, at its
                              expense, obtain all permits, approvals and
                              certificates required by any governmental or
                              quasi-governmental bodies and (upon completion)
                              certificates of final approval thereof and shall
                              deliver promptly duplicates of all such permits,
                              approvals and certificates to Owner and Tenant
                              agrees to carry and will cause Tenant's
                              contractors and sub-contractors to carry such
                              workman's compensation, general ability, personal
                              and property damage insurance as Owner may
                              reasonably require. Landlord represents and
                              warrants that as of the date hereof, the Building
                              has all necessary permits and approvals, including
                              without limitation a Certificate of Occupancy, so
                              that Tenant, upon completion of the Initial
                              Alterations in compliance with applicable law,
                              will be able to obtain all necessary permits and
                              approvals for the Premises, including a
                              certificate of occupancy for the Premises, so that
                              upon completion of the Initial Alterations, Tenant
                              can occupy the Premises for the purposes permitted
                              by this Lease. If any mechanic's lien is filed
                              against the Demised Premises, or the building of
                              which the same forms a part, for work claimed to
                              have been done for, or materials furnished to,
                              Tenant, whether or not done pursuant to this
                              article, the same shall be discharged by Tenant
                              within thirty days after Tenant receives notice
                              thereof, at Tenant's expense, by filing the bond
                              required by law. Tenant shall have the right to
                              cause the Landlord to perform the Initial
                              Alterations [at fixed price of $75,360] pursuant
                              to a separate contract to be mutually agreed upon
                              and executed by Landlord and Tenant (the "Initial
                              Alterations Agreement"). In the event that
                              Landlord or Landlord's contractor performs the
                              Initial Alterations, Landlord, as part of such
                              work, at its sole cost and expense shall be
                              responsible for obtaining all required permits,
                              approvals and certificates, including, without
                              limitation, a certificate of occupancy for the
                              Premises, before the Commencement Date. In
                              addition, in such case Landlord shall be
                              responsible for all mechanics liens. All fixtures
                              and all paneling, partitions, railings and like
                              installations, installed in the premises at any
                              time, either by Tenant or by Owner in Tenant's
                              behalf, shall, upon installation, become the
                              property of Owner and shall remain upon and be
                              surrendered with the Demised Premises. Nothing in
                              this Article shall be construed to give Owner
                              title to or to prevent Tenant's removal of trade

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                              fixtures, but upon removal of any such from the
                              premises, Tenant shall immediately and at its
                              expense, repair and restore the premises to the
                              condition existing prior to installation and]
                              repair any damage to the Demised Premises or the
                              building due to such removal, normal wear and tear
                              and casualty excepted. All property permitted or
                              required to be removed by Tenant at the end of the
                              term remaining in the premises after Tenant's
                              removal shall be deemed abandoned and may, at the
                              election of Owner, either be retained as Owner's
                              property or may be removed from the premises by
                              Owner, at Tenant's expense. Notwithstanding
                              anything to the contrary set forth herein, Tenant
                              shall have the right to make interior
                              non-structural alterations which do not adversely
                              affect the building systems or structure, but only
                              after receiving Owner's written consent, not to be
                              unreasonably withheld or delayed.

Maintenance and
Repairs:                      4. (a) Tenant shall; throughout the term of this
                              lease, take good care of the Demised Premises and
                              the fixtures and appurtenances therein. Subject to
                              the waiver of subrogation provisions, Tenant shall
                              be responsible for all damage or injury to the
                              Demised Premises or any other part of the building
                              and the systems and equipment thereof, whether
                              requiring structural or nonstructural repairs
                              caused by or resulting from the wrongful
                              intentional acts or negligence of Tenant, Tenant's
                              subtenants, agents, employees, or licensees,
                              unless caused by the act or omission or negligence
                              of Owner, its agents, employees or contractors.
                              Tenant shall also repair all damage to the
                              building and the Demised Premises caused by the
                              moving of Tenant's fixtures, furniture and
                              equipment. Tenant shall promptly make, at Tenant's
                              expense, all repairs in and to the Demised
                              Premises for which Tenant is responsible, using
                              contractors reasonably acceptable to Owner. Any
                              other repairs in or to the building or the
                              facilities and systems thereof for which Tenant is
                              responsible, shall be performed by Owner at the
                              Tenant's reasonable expense, following Tenant's
                              receipt of invoice and reasonable backup. Owner
                              shall maintain in good working order and repair
                              the, exterior and the structural portions of the
                              building, including the structural portions of its
                              Demised Premises, and the public portions of the
                              building interior and the building plumbing,
                              mechanical, electrical, heating and ventilating
                              systems serving or passing through the Demised
                              Premises. Tenant agrees to give prompt notice of
                              any defective condition in the Premises for which
                              Owner may be responsible hereunder after Tenant
                              has actual knowledge thereof. Provided Landlord
                              uses reasonable efforts to avoid interfering with
                              Tenant's business, without any obligation to incur
                              overtime, there shall be no allowance to

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                              Tenant for diminution of rental value and no
                              liability on the part of Owner by reason of
                              inconvenience, annoyance or injury to business
                              arising from Owner or others making repairs,
                              alterations, additions or improvements in or to
                              any portion of the building or the Demised
                              Premises or in and to the fixtures, appurtenances
                              or equipment thereof. Except as set forth in this
                              Lease, it is specifically agreed that Tenant shall
                              not be entitled to any set off or reduction of
                              rent by reason of any failure of Owner to comply
                              with the covenants of this or any other article of
                              this Lease. Tenant agrees that Tenant's sole
                              remedy at law in such instance will be by way of
                              an action for damages for breach of contract,
                              except in connection with a major, sustained
                              interruption of services, or to a material,
                              uncorrected, Landlord default in performance of
                              its obligations hereunder. The provisions of this
                              Article 4 shall not apply in the case of fire or
                              other casualty which are dealt with in Article 9
                              hereof. Notwithstanding anything to the contrary
                              set forth herein: (a) Owner shall, at Owner's
                              expense, maintain and keep in good repair the
                              interior and exterior structural portions of the
                              building, the roof, floor slabs, foundation and
                              building systems and (b) Owner shall make all
                              structural or extraordinary alterations and
                              repairs to the building and the Demised Premises
                              that are required to be made by any local, state
                              or federal laws now or hereafter in effect ("Legal
                              Requirements"), unless due to Tenant's particular
                              manner or use of the Demised Premises and not to
                              general office use. Landlord represents and
                              warrants that on the date hereof, the building
                              complies with all applicable Legal Requirements.
                              Owner shall be solely responsible for the cost of
                              any such alterations and repairs unless same are
                              necessitated by Tenant's manner of use of the
                              Demised Premises and by general office use, (b)
                              (1) Owner hereby reserves the right at any time
                              and from time to time to make alterations or
                              additions to the building, the buildings adjoining
                              the same and any other buildings located on Bridge
                              Street owned by Owner (collectively, the "Bridge
                              Street Properties" {"BSP"}). Owner further
                              reserves the right at any time and from time to
                              time to construct, or permit to construct, other
                              buildings or improvements within the BSP. Such
                              rights set forth in two preceding sentences
                              include, without limitation, the right to
                              construct additional stories on any such building
                              or buildings, the right to build adjoining the
                              same, the right to construct multi-level,
                              elevated, underground and other parking facilities
                              within the BSP and the right to erect in
                              connection with any such construction or building
                              temporary scaffolds and other aids to such
                              construction or building. Landlord shall use
                              reasonable efforts to minimize the noise and
                              disturbance to Tenant's business in connection
                              with such work. Owner shall

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                              have the right at any time and from time to time
                              to change the street address of the Demised
                              Premises or to change the name of the building
                              without incurring any liability to Tenant. Tenant
                              acknowledges that the building. may be expanded to
                              include multiple levels (the "Expansion") and that
                              the Expansion may include office, retail and
                              residential uses provided that no such retail use
                              shall increase Tenant's Common Area maintenance
                              charges. (ii) If an excavation shall be made upon
                              land adjacent to the Demised Premises, Tenant
                              shall permit the person(s) authorized to do such
                              excavation to enter the Demised Premises for the
                              purpose of doing such work as such person(s) deems
                              necessary to preserve the building of which the
                              Demised Premises is a part and to support the same
                              by proper foundations without any claim for
                              damages or indemnification from Owner or abatement
                              of rental or other charges hereunder. (iii) There
                              shall be no allowance to Tenant for a diminution
                              in rental value and no liability on the part of
                              Owner by reason of inconvenience, annoyance or
                              injury to business arising from Owner or others
                              making any changes, alterations, additions,
                              improvements, repairs or replacements in or to any
                              portion of the building, the Demised Premises or
                              the BSP, or in or to any fixtures, appurtenances
                              or equipment therein.

Window Cleaning:              5. Tenant will not clean nor require, permit,
                              suffer or allow any window in the Demised Premises
                              to be cleaned from the outside in violation of
                              Section 202 of the Labor Law or any other
                              applicable law or of the Rules of the Board of
                              Standards and Appeals, or of any other Board or
                              body having or asserting jurisdiction.

Requirements
of Law, Fire                  6. Prior to the commencement of the lease term, if
                              Tenant is then in possession (pursuant to an
                              agreement whereby Landlord has made Tenant
                              responsible for the build-out), and at all times
                              thereafter, Insurance, Floor Loads: but subject to
                              the provisions of this Lease, Tenant at Tenant's
                              sole cost and expense, shall promptly comply with
                              all present and future laws, orders and
                              regulations of all state, federal, municipal and
                              local governments, departments, commissions and
                              boards and any direction of any public officer and
                              all regulations of the New York State Board of
                              fire Underwriters, Insurance Service office with
                              respect to the Demised Premises arising out of
                              tenant's unique manner of use thereof (and not to
                              general office use), or with respect to the
                              building if arising out of tenant's manner of use
                              of the premises or the building. Nothing herein
                              shall require Tenant to make structural repairs or
                              alterations unless Tenant has, by its manner of
                              use of the

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                              Demised Premises or method of operation therein,
                              violated any such laws, ordinances, orders, rules,
                              regulations or requirements with respect thereto.
                              Tenant may, after securing Owner to Owner's
                              satisfaction against all damages, interest,
                              penalties and expenses, including, but not limited
                              to, reasonable attorney's fees, by cash deposit or
                              by surety bond in an amount and in a company
                              reasonably satisfactory to Owner, contest and
                              appeal any such laws, ordinances, orders, rules,
                              regulations or requirements provided same is done
                              with all reasonable promptness and provided such
                              appeal shall not subject Owner to prosecution for
                              a criminal offense or constitute a default under
                              any lease or mortgage under which Owner may be
                              obligated, or cause the Demised Premises or any
                              part thereof to be condemned or subject to an
                              official order that it be vacated. Tenant shall
                              not do or permit any act or thing to be done in or
                              to the Demised Premises which is contrary to law,
                              or which will invalidate or be in conflict with
                              public liability, fire or other policies of
                              insurance at any time carried by or for the
                              benefit of Owner with respect to the Demised
                              Premises or the building of which the Demised
                              Premises form a part, or which shall or might
                              subject Owner to any liability or responsibility
                              to any person or for property damage. Tenant shall
                              not keep anything in the Demised Premises except
                              as now or hereafter permitted by the Fire
                              Department, Board of Fire Underwriters, Fire
                              Insurance Rating Organization or other authority
                              having jurisdiction, and then only in such manner
                              and such quantity so as not to increase the rate
                              for fire insurance applicable to the building, nor
                              use the premises in a manner which will increase
                              the insurance rate for the building or any
                              property located therein over that in effect prior
                              to the commencement of Tenant's occupancy. Tenant
                              shall pay all costs, expenses, fines, penalties,
                              or damages, which may be imposed upon Owner by
                              reason of Tenant's failure to comply with the
                              provisions of this article and if by reason of
                              such failure the fire insurance rate shall, at the
                              beginning of this lease, or at any time
                              thereafter, be higher than it Otherwise would be,
                              then Tenant shall reimburse Owner, as additional
                              rent hereunder, for that portion of all fire
                              insurance premiums thereafter paid by Owner which
                              shall have been charged because of such failure by
                              Tenant. Landlord represents and warrants that
                              Tenant's use of the Premises for the permitted use
                              shall not violate the provisions of this Section
                              or cause insurance rates to increase. In any
                              action or proceeding wherein Owner and Tenant are
                              parties, a schedule or "make - up" of rate for the
                              building or Demised Premises issued by the New
                              York Fire Insurance Exchange, or other body making
                              f11'e insurance rates applicable to said premises'
                              shall be conclusive evidence of

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                              the facts therein stated and of the several Items
                              and charges in the fire insurance rates then
                              applicable to said premises. Tenant shall only be
                              liable for such increases if Tenant's use of the
                              Premises for uses other than the permitted use is
                              the sole and direct cause of such increase. Tenant
                              shall not place a load upon any Door of the
                              Demised Premises exceeding the floor load per
                              square foot area which it was designed to carry
                              and which is allowed by law. Owner reserves the
                              right to prescribe the weight and position of' all
                              safes, business machines and mechanical equipment.
                              Such installations shall be placed and maintained
                              by Tenant, at Tenant's expense, in settings
                              sufficient, in Owner's reasonable judgment, to
                              absorb and prevent vibration, noise and annoyance.

Subordination:                7. Subject to the provisions below, this lease is
                              subject and subordinate to all ground or
                              underlying leases and to all mortgages which may
                              now or hereafter affect such leases or the real
                              property of which Demised Premises are a part and
                              to all renewals, modifications, consolidations,
                              replacements and extensions of any such underlying
                              leases and mortgages. Landlord shall make
                              reasonable efforts to provide Tenant with an SNDA
                              reasonably satisfactory to Tenant. This clause
                              shall be self. operative and no further instrument
                              of subordination shall be required by any ground
                              or underlying lessor or by any mortgagee,
                              affecting any lease or the real property of which
                              the Demised Premises are a part. In confirmation
                              of such subordination, Tenant shall execute any
                              certificate that Owner may reasonably request that
                              is reasonably satisfactory to Tenant within five
                              (5) days after written demand.

Property Loss Damage
Reimbursement
Indemnity:                    8. Owner or its agents shall not be liable for any
                              damage to property of Tenant or of others
                              entrusted to, employees of the building, nor for
                              loss of or damage to any property of Tenant by
                              theft or otherwise, nor for any injury or damage
                              to persons or property resulting from any cause of
                              whatsoever nature, unless caused by or due to the
                              omissions or negligence of Owner, its agents,
                              servants contractors or employees. Unless due to
                              their omissions or negligence, Owner or its agents
                              will not be liable for any such damage caused by
                              other tenants or persons in, upon or about said
                              building or caused by operations in construction
                              of any private, public or quasi public work. If at
                              any time any windows of the Demised Premises are
                              temporarily closed, darkened or bricked up (or
                              permanently closed, darkened or bricked up, if
                              required by law) for any reason whatsoever
                              including, but not limited to Owner's own acts,
                              Owner shall not be liable for any damage

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                              Tenant may sustain thereby and Tenant shall not be
                              entitled to any compensation therefor nor
                              abatement or diminution of rent nor shall the same
                              release Tenant from its obligations hereunder nor
                              constitute an eviction. Tenant shall indemnify and
                              save harmless Owner against and from all
                              liabilities, obligations, damages, penalties,
                              claims, costs and expenses for which Owner shall
                              not be reimbursed by insurance, including
                              reasonable attorneys fees, paid, suffered or
                              incurred as a result of any breach by Tenant,
                              Tenant's agents, contractors, employees, or
                              licensees, of any covenant or condition of this
                              lease, or the negligence or wrongful acts of the
                              Tenant, Tenant's agents, contractors, employees,
                              or licensees; provided, however, that Tenant shall
                              not be responsible for claims and the like not
                              covered by insurance if Owner has not maintained
                              in force insurance with limits at least equal to
                              the amount of insurance the Owner is required to
                              carry under any mortgage or the amount that a
                              reasonably prudent landlord of a class a bonding
                              in the greater New York suburban area should have
                              carried. Tenant's liability under this lease
                              extends to the acts and omissions of any
                              sub-tenant, and any agent, contractor, employee,
                              or licensee of any sub-tenant. In case any action
                              or proceeding is brought against Owner by reason
                              of any such claim, Tenant, upon written notice
                              from Owner, will, at Tenant's expense, resist or
                              defend such action or proceeding by counsel
                              approved by Owner in writing, such approval not to
                              be unreasonably withheld, conditioned or delayed.
                              The attorney that Tenant is required to use by its
                              insurer shall be deemed reasonably acceptable to
                              the Owner. Tenant shall be entitled, at its
                              expense, to defend its interest in any such
                              litigation, and Owner shall not compromise the
                              action without Tenant's prior written consent.
                              Owner shall indemnify and save harmless Tenant
                              against and from all liabilities, obligations,
                              damages, penalties, claims, costs and expenses for
                              which Tenant shall not be reimbursed by insurance,
                              including reasonable attorneys fees, paid,
                              suffered or incurred as a result of any breach by
                              Owner, Owner's agents, contractors, employees, or
                              licensees, of any covenant or condition of this
                              lease, or the negligence or wrongful acts of the
                              Owner, Owner's agents, contractors, employees, or
                              licensees. The waiver of subrogation provided in
                              Article 9, below, shall be applicable as
                              appropriate in order to carry out the intent of
                              the provisions of this Article.

Destruction, Fire
and Other Casualty:           9. (a) If the Demised Premises or any part thereof
                              shall be damaged by fire or other casualty, Tenant
                              shall give prompt notice except thereof to Owner
                              and this lease shall continue in foil as
                              hereinafter set forth. (b) If the Demised Premises
                              are

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                              partially damaged or rendered partially unusable
                              by fire or other casualty, the damages thereto
                              shall be repaired by and at the expense of Owner
                              and the rent, until such repair shall be
                              substantially completed, shall be apportioned from
                              the day following the casualty according to the
                              part of the premises which is usable. (c) If the
                              Demised Premises are totally damaged or rendered
                              wholly unusable by fire or other casualty, then
                              the rent shall be proportionately paid up to the
                              time of the casualty and thenceforth shall cease
                              until the date when the premises shall have been
                              repaired and restored by Owner, subject to Owner's
                              right to elect not to restore the same as
                              hereinafter provided. (d) If the Demised Premises
                              are rendered wholly unusable or (whether or not
                              the Demised Premises are damaged in whole or in
                              part) if the building shall be so damaged that
                              Owner shall decide to demolish it or to rebuild
                              it, then, in any of such events, Owner may elect
                              to terminate this lease by written notice to
                              Tenant, given within 90 days after such fire or
                              casualty, specifying a date for the expiration of
                              the lease, which date shall not be more than 60
                              days after the giving of such notice, and upon the
                              date specified in such notice the term of this
                              lease shall expire as fully and completely as if
                              such date were the date set forth above for the
                              termination of this lease and Tenant shall
                              forthwith quit, surrender and vacate the premises
                              without prejudice however, to Owner's rights and
                              remedies against Tenant under the lease provisions
                              in effect prior to such termination, and any rent
                              owing shall be paid up to the date of such
                              casualty, and any payments of rent made by Tenant
                              which were on account of any period subsequent to
                              the date of such casualty shall be returned to
                              Tenant. Unless Owner shall serve a termination
                              notice as provided for herein, Owner shall make
                              the repairs and restorations under the conditions
                              of (b) and (c) hereof, with all reasonable
                              expedition, subject to delays due to adjustment of
                              insurance claims, labor troubles and causes beyond
                              Owner's control. After any such casualty, Tenant
                              shall cooperate with Owner's restoration by
                              removing from the premises as promptly as
                              reasonably possible, all of Tenant's salvageable
                              inventory and movable equipment, furniture, and
                              other property. Tenant's liability for rent shall
                              resume [fifteen (15) days] after written notice
                              from Owner that the premises are substantially
                              ready for Tenant's occupancy. Notwithstanding the
                              foregoing, if the Premises are not fully restored
                              within 360 days, at Tenant's election this lease
                              may immediately be terminated. (e) Nothing
                              contained hereinabove shall relieve Tenant from
                              liability that may exist as a result of damage
                              from fare or other casualty. Notwithstanding the
                              foregoing, each party shall look first to any
                              insurance in its favor before making any claim
                              against the

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                              other party for recovery for loss or damage
                              resulting from fire or other casualty, and to the
                              extent permitted by law, Owner and Tenant each
                              hereby releases and waives all right of recovery
                              against the other or anyone claiming through or
                              under each of them by way of subrogation or
                              otherwise. The foregoing release and waiver shall
                              be in force only if both releasers' insurance
                              policies contain a clause providing that such a
                              release or waiver shall not invalidate the
                              insurance. If, and to the extent, that such waiver
                              can be obtained only by the payment of additional
                              premiums, then the party benefiting from the
                              waiver shall pay such premium within ten days
                              after written demand or shall be deemed to have
                              agreed that the party obtaining insurance coverage
                              shall be free of any further obligation under the
                              provisions hereof with respect to waiver of
                              subrogation. Tenant acknowledges that Owner will
                              not carry insurance on Tenant's furniture and/or
                              furnishings or any fixtures or equipment,
                              improvements, or appurtenances removable by Tenant
                              and agrees that Owner will not be obligated to
                              repair any damage thereto or replace the same. (f)
                              Tenant hereby waives the provisions of Section 227
                              of the Real Property Law and agrees that the
                              provisions of this article shall govern and
                              control in lieu thereof.

Eminent Premises
Domain:                       10. If the whole or any part of the Demised
                              Premises shall be acquired or condemned by Eminent
                              Domain for any public or quasi public use or
                              purpose, then and in that event, the term of this
                              lease shall cease and terminate from the date of
                              title vesting in such proceeding and Tenant shall
                              have no claim for the value of any unexpired term
                              of said lease and assigns to Owner, Tenant's
                              entire interest in any such award. Tenant shall
                              have the right to make an independent claim to the
                              condemning authority for the value of Tenant's
                              moving expenses and personal property, trade
                              fixtures and equipment, provided Tenant is
                              entitled pursuant to the terms of this lease to
                              remove such property, trade fixtures and equipment
                              at the end of the term, and provided further such
                              claim does not reduce Owner's award.

Assignment Mortgage,
and Etc.:                     11. Tenant, for itself, its heirs, distributees,
                              executors, administrators, legal representatives,
                              successors assigns, expressly covenants that it
                              shall not assign, mortgage or encumber this
                              agreement, nor underlet, or suffer or permit the
                              Demised Premises or any part thereof to be used by
                              others, without the prior written consent of Owner
                              in each instance, which consent shall not be
                              unreasonably withheld conditioned or delayed. If
                              this lease be assigned, or if the Demised

                                       10
<PAGE>

                              Premises or any part thereof be underlet or
                              occupied by anybody other than Tenant, Owner may,
                              after default by Tenant, collect rent from the
                              assignee, under-tenant or occupant, and apply the
                              net amount collected to the rent herein reserved,
                              but no such assignment, underletting, occupancy or
                              collection shall be deemed a waiver of this
                              covenant, or the acceptance of the assignee,
                              under-tenant or occupant as tenant, or a release
                              of Tenant from the further performance by Tenant
                              of covenants on the part of Tenant herein
                              contained. The consent by Owner to an assignment
                              or underletting shall not in any wise be construed
                              to relieve Tenant from obtaining the express
                              consent in writing of Owner to any further
                              assignment or underletting.

Electric Current:             12. Rates and conditions in respect to submetering
                              or rent inclusion, as the case may be, to be added
                              in RIDER attached hereto. Tenant covenants and
                              agrees that at all times its use of electric
                              current shall not exceed the amounts set forth in
                              this Lease for Tenant's use and Tenant may not use
                              any electrical equipment which, in Owner's
                              opinion, reasonably exercised, will exceed the
                              amounts set forth in this Lease for Tenant's use
                              Unless due to Landlord's omissions or negligence,
                              the change at any time of the character of
                              electric service shall in no wise make Owner
                              liable or responsible to Tenant, for any loss,
                              damages or expenses which Tenant may sustain.

Access to
Right Premises:               13. (a) Owner or Owner's agents shall have the
                              right (but shall not be obligated) to enter the
                              Demised Premises in any emergency at any time,
                              and, at other reasonable times upon reasonable
                              prior notice and without interfering with Tenant's
                              business, to examine the same and to make such
                              repairs, replacements and improvements as Owner
                              may deem necessary and reasonably desirable to the
                              Demised Premises or to any other portion of the
                              building or which Owner may elect to perform.
                              Provided Owner does not interfere with Tenant's
                              business and ensures that the confidentiality of
                              Tenant's business is maintained, and provided that
                              Tenant receives reasonable prior notice and has
                              the right to have a representative of Tenant
                              present, Tenant shall permit Owner to show same to
                              prospective purchasers or mortgagees of the
                              building, and during the last six months of the
                              term for the purpose of showing the same to
                              prospective tenants. If Tenant is not present to
                              open and permit an entry into the premises, during
                              an emergency, Owner or Owner's agents may enter
                              the same whenever such entry may be necessary [or
                              permissible by master key or forcibly and provided
                              reasonable care is exercised to safeguard Tenant's
                              property and the

                                       11
<PAGE>

                              confidentiality of Tenant's business, such entry
                              shall not render Owner or its agents liable
                              therefor, nor in any event shall the obligations
                              of Tenant hereunder be affected. If during the
                              last month of the term Tenant shall have removed
                              all or substantially all of Tenant's property
                              therefrom, Owner may immediately enter, alter,
                              renovate or redecorate the Demised Premises
                              without limitation or abatement of rent, or
                              incurring liability to Tenant for any compensation
                              and such act shall have no effect on this lease or
                              Tenant's obligations hereunder. (b) (i) Owner
                              shall have the exclusive right to use and obtain
                              access to all or any part of the roof, provided
                              that Tenant shall be entitled to erect one or two
                              small satellite antennas or antennas for wireless
                              telecom or similar communication with other space
                              leased by Tenant within BSP (in a location of
                              Owner's choosing, and provided that no roof
                              penetration shall be required, exterior side and
                              rear walls of the Demised Premises for any
                              purpose, including but not limited to, erecting
                              signs or other structures on or over all or any
                              part of the same, erecting scaffolds and other
                              aids to the construction and installation of the
                              same, and installing, maintaining, using,
                              repairing, and replacing pipes, ducts, conduits
                              and wires leading through, to or from the Demised
                              Premises and serving other parts of the BSP in
                              locations which do not materially interfere with
                              Tenant's use of the Demised Premises. Tenant shall
                              have no right whatsoever in the exterior of
                              exterior walls or the roof (excepting satellite
                              telecom as set forth above) of the Demised
                              Premises. (ii) Tenant shall permit Owner to
                              install, use and maintain pipes, ducts and
                              conduits within or through the Demised Premises,
                              or through the walls, columns and ceilings
                              therein, provided that the installation work is
                              performed at such times and by such methods as
                              will not materially interfere with Tenant's use
                              and occupancy of the Demised Premises. Where
                              access doors are required for [mechanical trades
                              in or adjacent to the Demised Premises, Owner
                              shall furnish and install such access doors and
                              confine their location, wherever practical, .to
                              closets, coat rooms, toilet rooms, corridors and
                              kitchen or pantry rooms. Notwithstanding the
                              foregoing, in performing any work in or about the
                              Demised Premises, Owner shall use all reasonable
                              efforts not to disturb Tenant's business
                              operations, including performing work after hours
                              if practicable. In no event shall any work or
                              renovations by Owner result in a reduction of the
                              size of the Demised Premises. Landlord shall
                              repair any damage to the Demised Premises,
                              including any finish work resulting from any such
                              work or renovations.

Vault, Vault

                                       12
<PAGE>

en-Space Area:                14. No Vaults, vault space or area, whether or,
                              not closed or covered, not within the property
                              line of the building is leased hereunder, anything
                              contained in or indicated on any sketch, blueprint
                              or plan, or anything contained elsewhere in this
                              lease to the contrary notwithstanding. Owner makes
                              no representation as to the location of the
                              property line of the building. All vaults and
                              vault space and all such areas not within the
                              property line of the building, which Tenant may be
                              permitted to use and/or occupy, is to be used
                              and/or occupied under a revocable license, and if
                              any such license be revoked, or if the amount of
                              such space or area be diminished or required by
                              any federal, state or municipal authority or
                              public utility, Owner shall not be subject to any
                              liability nor shall Tenant be entitled to any
                              compensation or diminution or abatement of rent,
                              nor shall such revocation, diminution or
                              requisition be deemed constructive or actual
                              eviction. Any tax, fee or charge of municipal
                              authorities for such vault or area shall be paid
                              by Tenant.

Occupancy:                    15. Tenant will not at any time use or occupy the
                              Demised Premises in violation of the certificate
                              of occupancy issued for the building of which the
                              Demised Premises are a part , it being understood
                              and agreed that the use of the Premises for the
                              permitted use will not violate the certificate of
                              occupancy. Tenant has inspected the premises and
                              accepts them as is, subject to the riders annexed
                              hereto with respect to Owner's work, if any, and
                              subject to the provisions of this Lease (including
                              the provisions that relate to Legal Requirements
                              and Hazardous Substances) and subject to latent
                              defects. Notwithstanding the foregoing, Owner
                              represents that (i) there is a valid Certificate
                              of Occupancy covering the building, including the
                              Demised Premises, which permits the Permitted Use
                              in the Demised P remises (subject to the
                              requirement that any new construction may require
                              its own new certificate of occupancy or
                              completion) and (ii) there are no violations of
                              Legal Requirements affecting the Demised Premises
                              as of the date hereof.

Bankruptcy:                   16. (a) Anything elsewhere in this lease to the
                              contrary not withstanding, this lease may be
                              canceled by Owner by the sending of a written
                              notice to Tenant within a reasonable time after
                              the happening of anyone or more of the following
                              events: (i) the commencement of a case in
                              bankruptcy or under the laws of any state naming
                              Tenant as the debtor; or (ii) the making by Tenant
                              of an assignment or any other arrangement for the
                              benefit of creditors under any state statute.
                              Neither Tenant nor any person claiming through or
                              under Tenant, or by reason of any statute or order
                              of court, shall thereafter be

                                       13
<PAGE>

                        entitled to possession of the premises demised but shall
                        forthwith quit and surrender the premises. If this lease
                        shall be assigned in accordance with its terms, the
                        provisions of this Article 16 shall be applicable only
                        to the party then owning Tenant's interest in this
                        lease. (b) it is stipulated and agreed that in the event
                        of the termination of this lease pursuant to (a) hereof,
                        Owner shall forthwith, notwithstanding any other
                        provisions of this lease to the contrary, be entitled to
                        recover from Tenant as and for liquidated damages an
                        amount equal to the difference between the rent reserved
                        hereunder for the unexpired portion of the term demised
                        and the fair and reasonable rental value of the Demised
                        Premises for the same period. In the computation of such
                        damages the difference between any installment of rent
                        becoming due hereunder after the date of termination and
                        the fair and reasonable rental value of the Demised
                        Premises for the period for which such installment was
                        payable shall be discounted to the date of termination
                        at the rate of four percent (4%) per annum. If such
                        premises or any part thereof be relet by the Owner for
                        the unexpired term of said lease, or any part thereof,
                        before presentation of proof of such liquidated damages
                        to any court, commission or tribunal, the amount of rent
                        reserved upon such reletting shall be deemed to be the
                        fair and reasonable rental value for the part or the
                        whole of the premises so re-let during the term of the
                        re -letting. Nothing herein contained shall limit or
                        prejudice the right of the Owner to prove for and obtain
                        as liquidated damages by reason of such termination, an
                        amount equal to the maximum allowed by any statute or
                        role of law in effect at the time when, and governing
                        the proceedings in which, such damages are to be proved,
                        whether or not such amount be greater, equal to, or less
                        than the amount of the difference referred to above.

Default:                17. (a) If Tenant defaults in fulfilling any of the
                        covenants of this lease other than the covenants for the
                        payment of rent or additional rent; or If any execution
                        or attachment shall be issued against Tenant or any of
                        Tenant's property whereupon the Demised Premises shall
                        be taken or occupied by someone other than Tenant; or if
                        this lease be rejected under Section 235 of Title II of
                        the U.S. Code (bankruptcy code); in anyone or more of
                        such events, upon Owner serving a written five (5) days
                        notice in the case of monetary defaults, and a written
                        ten (10) day notice in the case of non-monetary
                        defaults, and upon the expiration of said five (5) days
                        or ten (10) days, as the case may be, if Tenant shall
                        have failed to comply with or remedy such default, or if
                        the said default or omission complained of shall be of a
                        nature that the same cannot be completely cured or
                        remedied within said five (5) day or ten (10) day
                        period,

                                       14

<PAGE>

                        and if Tenant shall not have diligently commenced curing
                        such default within such five (5) day or ten (10) day
                        period, and shall not thereafter with reasonable
                        diligence and in good faith, provided. (b) If the notice
                        provided for in (a) hereof shall have been given, and
                        the term shall expire as aforesaid; or If Tenant shall
                        make default in the payment of the rent reserved herein
                        or any item of additional rent herein mentioned or any
                        part of either or in making any other payment herein
                        required which default shall not be cured within ten
                        (10) days after notice; then and in any of such events
                        Owner may with notice, re-enter the Demised Premises
                        either by legal means, and dispossess Tenant by summary
                        proceedings or otherwise, and the legal representative
                        of Tenant or other occupant of Demised Premises and
                        remove their effects and hold the premises as if this
                        lease had not been made

Remedies of Owner
and otherwise Waiver
of paid Redemption:     18. In case of any default, reentry, and expiration
                        and/or dispossess summary, proceedings or by (a) the
                        rent shall become due thereupon and be up to the time of
                        such reentry, and/or expiration, (b) Owner may re-let
                        the premises or any part or parts thereof, either in the
                        name of Owner or otherwise, for a term or terms, which
                        may at Owner's option be less than or exceed the period
                        which would otherwise have constituted the balance of
                        the term of this lease and may grant concessions or free
                        rent or charge a higher rental than that in this lease
                        (provided Tenant shall not be liable for any rental
                        obligations in excess of its obligations under this
                        Lease), and/or (c) Tenant or the legal representatives
                        of Tenant shall also pay Owner as liquidated damages for
                        the failure of Tenant to observe and perform said
                        Tenant's covenants herein contained, any deficiency
                        between the rent hereby reserved and/or covenanted to be
                        paid and the net amount, if any, of the rents collected
                        on account of the lease or leases of the Demised
                        Premises for each month of the period which would
                        otherwise have constituted the balance of the term of
                        this lease. The failure of Owner to re-let the premises
                        or any part or parts thereof shall not release or affect
                        Tenant's liability for damages. In computing such
                        liquidated damages there shall be added to the said
                        deficiency such reasonable expenses as Owner may pay in
                        connection with re-letting, such as reasonable legal
                        expenses and attorneys' fees, brokerage, advertising and
                        for keeping the Demised Premises in good order or for
                        preparing the same for re-letting. Any such liquidated
                        damages shall be paid in monthly installments by Tenant
                        on the rent day specified in this lease and any suit

                                       15

<PAGE>

                        brought to collect the amount of the deficiency for any
                        month shall not prejudice in any way the rights of Owner
                        to collect the deficiency for any subsequent month by a
                        similar proceeding. Owner, in putting the Demised
                        Premises in good order or preparing the same for
                        re-rental may, at Owner's option, make such reasonable
                        alterations, repairs, replacements, and/or decorations
                        in the Demised Premises as Owner, in Owner's sole
                        reasonable judgment, considers advisable and necessary
                        for the purpose of re-letting the Demised Premises, and
                        the making of such reasonable alterations, repairs,
                        replacements, and/or decorations shall not operate or be
                        construed to release Tenant from liability hereunder as
                        aforesaid. Owner shall in no event be liable in any way
                        whatsoever for failure to re-let the Demised Premises,
                        or in the event that the Demised Premises are re-let,
                        for failure to collect the rent thereof under such
                        re-letting, and in no event shall Tenant be entitled to
                        receive any excess, if any, of such net rents collected
                        over the sums payable by Tenant to Owner hereunder.
                        Notwithstanding the preceding, Landlord shall use
                        reasonable efforts to relet the Premises and mitigate
                        the damages. In the event of a breach or threatened
                        breach by Tenant of any of the covenants or provisions
                        hereof, Owner shall have the right of injunction and the
                        right to invoke any remedy allowed at-law or in equity
                        as if re-entry, summary proceedings and other remedies
                        were not herein provided for. Mention in this lease of
                        any particular remedy, shall not preclude the person
                        entitled to that remedy from any other remedy, in law or
                        in equity. Tenant hereby expressly waives any and all
                        rights of redemption granted by or under any present or
                        future laws in the event of Tenant being evicted or
                        dispossessed for any cause, or in the event of Owner
                        obtaining possession of Demised Premises, by reason of
                        the default beyond any applicable grace or notice
                        periods by Tenant of any of the covenants and conditions
                        of this lease.

Fees and Expenses:      19. If Tenant shall default, beyond any applicable grace
                        and cure period in the observance or performance of any
                        term or covenant on Tenant's part to be observed or
                        performed under this Lease, then, unless otherwise
                        provided elsewhere in this lease, Owner may immediately
                        or at any time thereafter and with notice perform the
                        obligation of Tenant thereunder. If either party, in
                        connection with the foregoing or in connection with any
                        default beyond any applicable grace or notice period by
                        the other party in the covenant to pay rent hereunder,
                        makes any expenditures or incurs any obligations for the
                        payment of money, including but not limited to
                        reasonable attorney's fees, in instituting, prosecuting
                        or defending any action or proceeding, then the
                        prevailing party

                                       16

<PAGE>

                        will be reimbursed by the other party for such sums so
                        paid or obligations incurred with Interest and costs.
                        The foregoing expenses incurred by reason of Tenant's
                        default shall be deemed to be additional rent hereunder
                        and shall be paid by Tenant to Owner within rendition
                        thirty (30) days after notice thereof to Tenant (with
                        reasonable backup) of any bill or statement to Tenant
                        therefor. [If Tenant's lease term shall have expired at
                        the time of making of such expenditures or incurring of
                        such obligations, such sums shall be recoverable by the
                        prevailing party as damages.

Building Alterations
and Management:         20. 0wner shall have the right at any time without the
                        same constituting an eviction and without incurring
                        liability to Tenant therefor to change the arrangement
                        and/or location of public entrances, passageways, doors,
                        doorways, corridors, elevators, stairs, toilets or other
                        public parts of the building and to change the name,
                        number or designation by which the building may be
                        known, provided any such changes described in this
                        Article 20 shall not adversely affect Tenant's access or
                        the rights and privileges granted under this Lease.
                        Owner shall use reasonable efforts to avoid interfering
                        with Tenant's business, and shall give reasonable prior
                        notice to Tenant, prior to making building alterations
                        that may affect Tenant. There shall be no allowance to
                        Tenant for diminution of rental value and no liability
                        on the part of Owner by reason of Inconvenience,
                        annoyance or injury to business arising from Owner or
                        other Tenants making any repairs in the building or any
                        such alterations, additions and improvements that are
                        completed within a reasonably short period of time.
                        Furthermore, Tenant shall not have any claim against
                        Owner by reason of Owner's imposition of such reasonable
                        controls of the manner of access to the building by
                        Tenant's social or business visitors as the Owner may
                        deem reasonably necessary for the security of the
                        building and its occupants.

No Representations
by Owner:               21. Neither Owner nor Owner's agents have by any
                        representations or promises with respect to physical
                        condition of the building, the land upon which It is
                        erected or the Demised Premises, the rents, leases,
                        expenses of operation, the actual dimensions of the
                        Demised Premises or the building or any other matter or
                        thing affecting or related to 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 the
                        provisions of this lease. Tenant has inspected the
                        Demised Premises and is thoroughly acquainted with its
                        condition and, subject to the provisions of

                                       17

<PAGE>

                        this Lease, agrees to take the same "as is" as of the
                        date hereof and subject to the Landlord's compliance
                        with its obligations as set forth in this Lease, and the
                        Premises being in the condition required by this Lease,
                        acknowledges that the taking of possession of the
                        Demised Premises by Tenant shall be conclusive evidence
                        that the said premises were in good and satisfactory
                        condition at the time such possession was so taken,
                        except as to latent defects. All understandings and
                        agreements heretofore made between the parties hereto
                        are merged in this contract, which alone fully and
                        completely expresses the agreement between Owner and
                        Tenant 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.

End of Term:            22. Upon the expiration or other termination of the term
                        of this lease, Tenant shall quit and surrender to Owner
                        the Demised Premises, broom clean, in good order and
                        condition, ordinary wear and damages and casualty
                        accepted and Tenant shall remove all its property.
                        Tenant's obligation to observe or perform this covenant
                        shall survive the expiration or other termination of
                        this lease. If the last day of the term of this Lease or
                        any renewal thereof, falls on Sunday, this lease shall
                        expire at noon on the preceding Saturday unless it be a
                        legal holiday in which case it shall expire at noon on
                        the preceding business day.

Quiet Enjoyment:        23. Owner covenants and agrees with Tenant that upon
                        provided Tenant is not in default beyond any applicable
                        grace or notice periods, Tenant may peaceably and
                        quietly enjoy the premises hereby demised, subject,
                        nevertheless, to the terms and conditions of this lease
                        and to the ground leases, underlying leases and
                        mortgages hereinbefore mentioned.

Failure to Give
Possession:             24. If Owner is unable to give possession of the Demised
                        Premises on the date of the commencement of the term
                        hereof, because of the holding over or retention of
                        possession of any tenant, undertenant or occupants or if
                        the Demised Premises are located in a building being
                        constructed, because such building has not been
                        sufficiently completed to make the premises ready for
                        occupancy or because of the fact that a certificate of
                        occupancy has not been procured or for any other reason,
                        Owner shall not be subject to any liability for failure
                        to give possession on said date and the validity of the
                        lease shall not be impaired under such circumstances,
                        nor shall the same

                                       18

<PAGE>

                        be construed in any wise to extend the term of this
                        lease, but the rent payable hereunder shall be abated
                        (provided Tenant is not responsible for Owner's
                        inability to obtain possession) until after Owner shall
                        have given Tenant written notice that the premises are
                        substantially ready for Tenant's occupancy.
                        Notwithstanding the foregoing, if Owner is unable to
                        deliver possession of the premises by April 1, 2005,
                        Tenant shall have the right to terminate this lease. If
                        Permission is given to Tenant to enter into the
                        possession of the Demised Premises or to occupy premises
                        other than the Demised Premises prior to the date
                        specified as the commencement of the term of this lease,
                        Tenant covenants and agrees that such occupancy shall be
                        deemed to be under all the terms, covenants, conditions
                        and provisions of this lease, except as to the covenant
                        to pay rent and additional rent. The provisions of this
                        article are intended to constitute "an express provision
                        to the contrary" within the meaning of Section 223 -a of
                        the New York Real Property Law. Notwithstanding the
                        foregoing, Owner shall give possession within 90 days
                        after a fully executed copy of this lease is exchanged
                        between the parties, subject, however, to the obligation
                        of the Tenant to perform any work it is to perform in a
                        timely manner.

No Waiver:              25. The failure of Owner or Tenant to seek redress for
                        violation of, or to insist upon the strict performance
                        of any covenant or condition of this lease or of any of
                        the Rules or Regulations, set forth or hereafter adopted
                        by Owner, shall not prevent a subsequent act which would
                        have originally constituted a violation from having all
                        the force and effect of an original violation. Owner
                        shall enforce all such Rules and Regulations in a
                        uniform and non-discriminatory manner. The receipt by
                        Owner and the payment by Tenant of rent with knowledge
                        of the breach of any covenant of this lease shall not be
                        deemed a waiver of such breach and no provision of this
                        lease shall be deemed to have been waived by Owner or
                        Tenant unless such waiver be in writing signed by the
                        party granting the waiver. No payment by Tenant or
                        receipt by Owner of a lesser amount than the monthly
                        rent herein stipulated shall be deemed to be other than
                        on account of the earliest stipulated rent, nor shall
                        any endorsement or statement of any check or any letter
                        accompanying any check or payment as rent be deemed an
                        accord and satisfaction, and Owner may accept such check
                        or payment without prejudice to Owner's right to recover
                        the balance of such rent or pursue any other remedy in
                        this lease provided. No act or thing done by Owner or
                        Owner's agents during the term hereby demised shall be
                        deemed an acceptance of a surrender of said premises,
                        and no agreement to accept such surrender shall be valid

                                       19

<PAGE>

                        unless in writing signed by Owner. No employee of Owner
                        or Owner's agent shall have any power to accept the keys
                        of said premises prior to the termination of the lease
                        and the delivery of keys to any such agent or employee
                        shall not operate as a termination of the lease or a
                        surrender of the premises.

Waiver of
Trial by Jury:          26. It is mutually agreed by and between and Owner and
                        Tenant 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 (except for personal injury or
                        property damage) on any matters whatsoever arising out
                        of or in any way connected with this lease, the
                        relationship of Owner and Tenant, Tenant's use of or
                        occupancy of said premises, and any emergency statutory
                        or any other statutory remedy. It is further mutually an
                        summary proceeding for possession of the premises,
                        Tenant will not interpose any counterclaim of whatever
                        nature or description in any such proceeding including a
                        counterclaim under Article 4.

Inability to
Perform:                27. Except as otherwise set forth to the contrary
                        elsewhere in this Lease, this Lease and the obligation
                        of Tenant to pay rent here under, and both parties'
                        obligations to perform all of the other covenants and
                        agreements here under on their respective parts to be
                        performed shall in no wise be affected, impaired or
                        excused because the other party is unable to fulfill any
                        of its obligations under this lease or to supply or is
                        delayed in supplying any service expressly or implied to
                        be supplied or is unable to make, or is delayed in
                        making any repair, additions, alterations or decorations
                        or is unable to supply or is delayed in supplying any
                        equipment or fixtures if Owner is prevented or delayed
                        from so doing by reason of strike or labor troubles or
                        any cause whatsoever including, but not limited to,
                        government preemption in connection with a National
                        Emergency or by reason of any rule, order or regulation
                        of any department or subdivision thereof of any
                        government agency or by reason of the conditions of
                        supply and demand which have been or are affected by war
                        or other emergency.

Bills and Bill Notices: 28. Except as otherwise in this lease provided, a
                        statement, notice or communication which Owner may
                        desire or be required to give to Tenant, shall be deemed
                        sufficiently given or rendered if, in writing, delivered
                        to Tenant personally or sent by registered or certified
                        man addressed to Tenant at the building of which the
                        Demised Premises form a part or at the

                                       20

<PAGE>

                        last known residence address or business address of
                        Tenant addressed to Tenant, and the time of the
                        rendition of such bill or statement and of the giving of
                        such notice or communication shall be deemed to be the
                        time when the same is delivered to Tenant by receipted
                        delivery, or if sent by courier, one business day after
                        delivery to such courier or if mailed, upon receipt or
                        rejection of such notice as herein provided. Any notice
                        by Tenant to Owner must be given to Owner personally or
                        served by registered or certified mail addressed to
                        Owner at the address first hereinabove given or at such
                        other address as Owner shall designate by written
                        notice. Notwithstanding the foregoing: (i) notices shall
                        be deemed given on the day of delivery, or, if delivery
                        is refused, on the first business day on which delivery
                        is attempted, and (ii) in addition to the notice methods
                        specified above, notices given to or by Owner or Tenant
                        may be given by hand or by courier service (such as
                        Federal Express or Airborne) that provides a signed
                        receipt. Notices shall be given to Owner and Tenant at
                        their addresses set forth in Rider Paragraph 67.

Services Expenses:      29. Owner shall provide at Owners sole cost and expense:
                        (a) heat to the Demised Premises when and as required by
                        law, on business days from 8 a.m. to 6 p.m. and on
                        Saturdays from 8 a.m. to 1 p.m.; (b) water for ordinary,
                        drinking and kitchen/pantry and lavatory purposes, but
                        if Tenant uses or consumes water for any other purposes
                        (of which fact Owner in its reasonable discretion shall
                        be the judge), Owner may install a water meter at
                        Owner's expense which Tenant shall thereafter maintain
                        at Tenant's expense in good working order and repair to
                        register such water consumption and Tenant shall pay for
                        water consumed for other purposes only, as shown on said
                        meter as additional rent thirty days after bills and
                        reasonable backup are rendered; (d) Air
                        conditioning/cooling will be furnished to tenant from
                        May 15th through September 30th or otherwise as the
                        design of the Building and its unique heating/cooling
                        system requires, on business days (Mondays through
                        Fridays, holidays excepted) from 8:00 a.m. to 6:00 p.m.,
                        and Saturdays from 8 a.m. to 1 p.m., and ventilation
                        will be furnished on business days during the aforesaid
                        hours except when air conditioning/cooling is being
                        furnished as aforesaid. If Tenant requires air
                        conditioning/cooling or ventilation for more extended
                        hours or on Sundays or on holidays, as defined under
                        Owner's contract with Operating Engineers Local 94-94A,
                        Owner will furnish the same at Tenant's expense. (e)
                        Owner reserves the right to stop services of the
                        heating, elevators, plumbing, air-conditioning, power
                        systems or cleaning or other services, if any, when
                        necessary by reason of accident or for repairs,
                        alterations, replacements

                                       21

<PAGE>

                        or improvements necessary or desirable in the judgment
                        of Owner for as long as may be reasonably required by
                        reason thereof, provided, however, that Owner shall
                        provide Tenant with' reasonable notice of any such
                        cessation of utilities to the extent reasonably
                        possible, and provided that this provision is not
                        intended to authorize a major, sustained interruption of
                        services. If the building of which the Demised Premises
                        are a part supplies manually operated elevator service,
                        Owner at, any time may substitute automatic control
                        elevator service and upon ten days' written notice to
                        Tenant, proceed with alterations necessary therefor
                        without in any wise affecting this lease or the
                        obligation of Tenant hereunder. The same shall be done
                        with a minimum of inconvenience to Tenant and Owner
                        shall pursue the alteration with due diligence. At least
                        one elevator shall be available at all times.

Captions:               30. The Captions are inserted only as a matter of
                        convenience and for reference and in no way define,
                        limit or describe the scope of this lease nor the intent
                        of any provisions thereof.

Definitions:            31. The term "office", or "offices", wherever used in
                        this lease, shall not be construed to mean premises used
                        as a store or stores, for the sale or display, at any
                        time, of goods, wares or merchandise, of any kind, or as
                        a restaurant, shop, booth, bootblack or other stand,
                        barber shop, or for other similar purposes. The term
                        "Owner" means a landlord or lessor, and as used in this
                        lease means only the owner, or the mortgagee in
                        possession, for the time being of the land and building
                        (or the owner of a lease of the building or of the land
                        and building) of which the Demised Premises form a part,
                        so that in the event of any sale or sales of said land
                        and building or of said lease, or in the event of a
                        lease of said building, or of the land and building, the
                        said Owner shall be and hereby is entirely freed and
                        relieved of all covenants and obligations of Owner
                        hereunder, and it shall be deemed and construed without
                        further agreement between the parties or their
                        successors in interest, or between the parties and the
                        purchaser, at any such sale, or the said lessee of the
                        building, or of the land and building, that the
                        purchaser or the lessee of the building has assumed and
                        agreed to carry out any and all covenants and
                        obligations of Owner, hereunder for obligations arising
                        both before and after the transfer. The words "re-enter"
                        and "re-entry" as used in this lease are not restricted
                        to their technical legal meaning. The term "business
                        days" as

                                       22

<PAGE>

                        used in this lease shall exclude Saturdays (except
                        such portion thereof as is covered by specific hours in
                        Article 29 hereof), Sundays and all days observed by the
                        State or Federal Government as legal holidays and those
                        designated as holidays by the applicable building
                        service union employees service contract or by the
                        applicable Operating Engineers contract with respect to
                        HVAC service.

Adjacent Excavation
Shoring:                32. If an excavation shall be made upon land adjacent to
                        the Demised Premises, or shall be authorized to be made,
                        Tenant shall afford to the person causing or authorized
                        to cause such excavation, license an opportunity at
                        reasonable times on reasonable notice to enter upon the
                        Demised Premises for the purpose of doing such work as
                        said person shall deem necessary to preserve the wall or
                        the building of which Demised Premises form a part from
                        injury or damage and to support the same by proper
                        foundations without any claim for damages or indemnity
                        against Owner, or diminution or abatement of rent.

Rules and Regulations:  33. Tenant and Tenant's servants, employees, agents,
                        visitors, and licensees shall observe faithfully, and
                        comply strictly with, the Roles and Regulations and such
                        other and further reasonable Roles and Regulations as
                        Owner or Owner's agents may from time to time adopt.
                        Notice of any additional rules or regulations shall be
                        given in [elect] the manner set forth in Article 28 and
                        Rider Paragraph 67. In case Tenant disputes the
                        reasonableness of any additional Rule or Regulation
                        hereafter made or adopted by Owner or Owner's agents,
                        the parties hereto agree to submit the question of the
                        reasonableness of such Rule or Regulation for decision
                        to the New York office of the American Arbitration
                        Association, whose determination shall be final and
                        conclusive upon the parties hereto. The right to dispute
                        the reasonableness of any additional Rule or Regulation
                        upon Tenant's part shall be deemed waived unless the
                        same shall be asserted by service of a notice, in
                        writing upon Owner within [ten (10) days] after the
                        giving of notice thereof. Nothing in this lease
                        contained shall be construed to impose upon Owner any
                        duty or obligation to enforce the Rules and Regulations
                        or terms, covenants or conditions in any other lease, as
                        against any other tenant and Owner shall not be liable
                        to Tenant for violation of the same by any other tenant,
                        its servants, employees, agents, visitors or licensees.
                        Landlord shall not enforce the Rules and Regulations in
                        a discriminatory manner. In case of a conflict between
                        the Rules and Regulations and the other provisions of
                        this Lease, the other provisions shall control.

                                       23

<PAGE>

Security:               34. Tenant has deposited with Owner the sum of
                        $17,002.67 as security for the faithful performance and
                        observance by Tenant of the terms, provisions and
                        conditions of this lease; it is agreed that in the event
                        Tenant defaults in respect of any of the terms,
                        provisions and conditions of this lease, including, but
                        not limited to, the payment of rent and additional rent,
                        Owner may use, apply or retain the whole or any part of
                        the security so deposited to the extent required for the
                        payment of any rent and additional rent or any other sum
                        as to which Tenant is in default or for any sum which
                        Owner may expend or may be required to expend by reason
                        of Tenant's default in respect of any of the terms,
                        covenants and conditions of this lease, including but
                        not limited to, any damages or deficiency in the
                        re-letting of the premises, whether such damages or
                        deficiency accrued before or after summary proceedings
                        or other re-entry by Owner. In the event that Tenant
                        shall fully and faithfully comply with all of the terms,
                        provisions, covenants and conditions of this lease, the
                        security shall be returned to Tenant after the date
                        fixed as the end of the Lease and after delivery of
                        entire possession of the Demised Premises to Owner. In
                        the event of a sale of the land and building or leasing
                        of the building, of which the Demised Premises form a
                        part, Owner shall have the right to transfer the
                        security to the vendee or lessee and Owner shall
                        thereupon be released by Tenant from all liability for
                        the return of such security; and Tenant agrees to look
                        to the new Owner solely for the return of said security,
                        and it is agreed that the provisions hereof shall apply
                        to every transfer or assignment made of the security to
                        a new Owner. Tenant further covenants that it will not
                        assign or encumber or attempt to assign or encumber the
                        monies deposited herein as security and that neither
                        Owner nor its successors or assigns shall be bound by
                        any such assignment, encumbrance, attempted assignment
                        or attempted encumbrance.

Estoppel
upon Certificate:       35. Tenant, at any time, and from time to time, at least
                        10 days prior notice by Owner, shall execute,
                        acknowledge and deliver to Owner, and/or to any other
                        person, firm or corporation specified by Owner, a
                        statement certifying that this Lease is unmodified and
                        in full force and effect (or, if there have been
                        modifications, that the same is in full force and effect
                        as modified and stating the modifications), stating the
                        dates to which the rent and additional rent have been
                        paid, and stating whether or not there exists any
                        default by Owner under this Lease, and, if so,
                        specifying each such default.

                                       24

<PAGE>

Successors and Assigns: 36. The covenants, conditions and agreements contained
                        in this lease shall bind and inure to the benefit of
                        Owner and Tenant and their respective heirs,
                        distributees, executors, administrators, successors, and
                        except as otherwise provided in this lease, their
                        assigns.

                                       25

<PAGE>

SEE RIDER ATTACHED HERETO AND INCORPORATED HEREIN

In Witness Whereof. Owner and Tenant have respectively signed and sealed this
lease as of the day and year first above written.

Witness for Owner:                       BRIDGE STREET PROPERTIES, LLC

                                         By: /s/
                                             ---------------------------------
--------------------------------------       Managing Manager

Witness for Tenant:                      Electro-Optical Sciences, Inc.

By:                                      By: /s/ William R. Bronner
   ------------------------------------      ---------------------------------

CORPORATE OWNER                              CORPORATE OWNER
STATE OF NEW YORK, SS.:                      STATE OF NEW YORK, SS.:
County of                                    County of

On this day   of    , 19   , before me      On this day   of   , 19  , before me

Personal came                                Personal came
to me known, who being by me duly sworn,     to me known, who being by me duly
did depose and say that he resides           sworn, did depose and say that
                                             he resides

in                                           in

that he is the      of                       that he is the      of

the corporation described in and which       the corporation described in and
executed the foregoing instrument, as        which executed the foregoing
OWNER;, and that he signed his name          instrument, as OWNER;, and that
thereto by order of the board of             he signed his name thereto by
directors of the corporation.                order of the board of directors.

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

INDIVIDUAL OWNER                             INDIVIDUAL OWNER
STATE OF NEW YORK, SS.:                      STATE OF NEW YORK, SS.:
County of                                    County of

      On this     day of   19  , before          On this   day of    19   ,
me personally came                           before me personally came

to me known and known to me to be the        to me known and known to me to be
individual described in and who, as          the individual described in and
Owner, executed the foregoing                who, as Tenant, executed the
instrument and acknowledged to me that       foregoing instrument and
he executed same.                            acknowledged to me that he
                                             executed same.

                                       26

<PAGE>

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

                                       27

<PAGE>

                                       28

<PAGE>

IMPORTANT PLEASE READ

RULES AND REGULATIONS ATTACHED TO AND MADE A PART OF THIS LEASE IN ACCORDANCE
WITH ARTICLE 33.

1. The sidewalks, entrances, driveways, passages, courts, elevators, vestibules,
stairways, corridors or halls shall not be obstructed or encumbered by any
Tenant or other used for any purpose other than for ingress or egress from the
Demised Premises and for delivery of merchandise and equipment in a prompt and
efficient manner using elevators and passageways designated for such delivery by
Owner. There shall not be used in any space, or in the public ball of the
building, either by any Tenant or by jobbers or others in the delivery or
receipt of merchandise, any band trucks, except those equipped with rubber tires
and side guards. If said premises are situated on the ground floor of the
building, Tenant thereof shall further, at Tenant's expense, keep the sidewalk
and curb in front of said premises clean and free from ice, snow, dirt and
rubbish.

2. The water and wash closets and plumbing fixtures shall not be used for any
purpose other than those for which they were designed or constructed and no
sweepings, rubbish, rags, acids or other substances shall be deposited therein,
and the expense of any breakage, stoppage, or damage resulting from the
violation of this rule shall be borne by Tenant who, or whose clerks, agents,
employees or visitors, shall have caused it.

3. No carpet, rug or other article shall be bung or shaken out of any window of
the building; and no Tenant shall sweep or throw or permit to be swept or thrown
from the Demised Premises any dirt or other substances into any of the corridors
or halls, elevators, or out of the doors or windows or stairways of the building
and Tenant shall not use, keep or permit to be used or kept any foul or noxious
gas or substance in the Demised Premises, or permit or suffer the Demised
Premises to be occupied or used in a manner offensive or objectionable to Owner
or other occupants of the building by reason of noise, odors, and/or vibrations,
or interfere in any way with other Tenants or those having business therein. nor
shall any animals or birds be kept in or about the building. Smoking or carrying
lighted cigars or cigarettes in the elevators of the building is prohibited.

4. No Awnings or other projections will be attached to the outside walls of the
building without prior written consent of Owner.

5. No sign, advertisement, notice or other lettering shall he exhibited,
inscribed, painted or affixed by any Tenant on any part of the outside of the
Demised Premises or the building or on the inside of the Demised Premises if the
same is visible from the outside of the premises without the prior written
consent of Owner, except that the name of Tenant may appear on the entrance door
of the premises. In the event of the violation of the foregoing by any Tenant,
Owner may remove same without any liability, and may charge the expense incurred
by such removal to Tenant or Tenants violating this rule. Interior signs on
doors and directory tablet shall be inscribed, painted or affixed for each
Tenant by Owner at the expense of such Tenant, and shall be of a size, color and
style acceptable to Owner.

6. No Tenant shall mark, paint, drill into, or in any way deface any part of the
Demised Premises or the building of which they form a part. Except as the
parties may agree as part

                                       29

<PAGE>

of the construction agreement, no boring, cutting or stringing of wires shall be
permitted, except with the prior written consent of Owner, and as Owner may
direct. No Tenant shall lay linoleum, or other similar floor covering, so that
the same shall come in direct contact with the floor of the Demised Premises,
and, if linoleum or other similar floor covering is desired to be used an
interlining of builder's deadening felt shall be first affixed to the floor, by
a paste or other material, soluble in water, the use of cement or other similar
adhesive material being expressly prohibited.

7. 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 mechanism thereof. Each Tenant must, upon the termination of his/her Tenancy,
restore to Owner all keys of stores, offices and toilet rooms, either furnished
to, or otherwise procured by, such Tenant, and in the event of the loss of any
keys, so furnished, such Tenant shall pay to Owner the cost thereof.

8. Freight, furniture, business equipment, merchandise and bulky matter of any
description shall be delivered to and removed from the premises only on the
freight elevators and through the service entrances and corridors, and only
during hours and in a manner approved by Owner. Owner reserves the right to
inspect all freight to be brought into the building and to exclude from the
building all freight which violates any of these Rules and Regulations of the
lease or which these Rules and Regulations are a part.

9. Canvassing, soliciting and peddling in the building is prohibited and each
Tenant shall cooperate to prevent the same.

10. Owner reserves the right to exclude from the building between the hours of 6
P.M. and 8 A.M. and at all hours on Sundays, and legal holidays all persons who
do not present a pass to the building signed by the Owner. Owner will furnish
passes to persons for whom any Tenant requests such pass and shall be liable to
Owner for all acts of such persons.

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

12. Tenant shall not bring or permit to be brought or kept in or on the Demised
Premises, any inflammable, combustible or explosive fluid, material, chemical or
substance, or cause or permit any odors to permeate in or emanate from the
Demised Premises.

13. If the building contains central air conditioning and ventilation, Tenant
agrees to abide by all rules and regulations issued by the Owner with respect to
such services. If Tenant requires air conditioning or ventilation after the
usual hours, Tenant shall give notice in writing to the building superintendent
prior to 3:00 P.M. in the case of services required on week days, and prior to
3:00 P.M. on the day prior in the case of after hours service required on
weekends or on holidays.

14. Tenant shall not move any safe, heavy machinery, heavy equipment, bulky
matter, or fixtures into or out of the building without Owner's prior written
consent. If such safe,

                                       30

<PAGE>

machinery, equipment; bulky matter or fixtures requires special handling, all
work in connection therewith shall comply with all laws and regulations
applicable thereto and shall be done during such hours as Owner may designate.

                                       31

<PAGE>

                                 RIDER TO LEASE
                                     Between
                      BRIDGE STREET PROPERTIES, LLC, Owner
                                       and
                     'ELECTRO-OPTICAL SCIENCES, INC., Tenant

      In the event any conflict between any of the provisions of this Rider and
any of the terms of the appended lease (including the Rules and Regulations),
such conflict will be resolved in every instance in favor of this Rider.

37.   BASE RENT

      Commencing as of the Lease Commencement Date, Tenant shall pay to Owner
the annual base rent, In equal monthly installments on the first day of each
month, as follows:

<TABLE>
<CAPTION>
                   Annual         Monthly
                   ------         -------
<S>              <C>            <C>
Years 1 and 2    $102,016.00    $  8,501.33
Years 3 and 4    $108,392.00    $  9,032.67
Years 5 and 6    $114,768.00    $  9,564.00
</TABLE>

38.   CONSTRUCTION

      A.    OWNER'S WORK - EXHIBIT B

            i.    As soon as practicable, but in any case within 15 days after
                  execution of this lease, Owner will commence and within 60
                  days thereafter will use reasonable efforts to complete the
                  work set forth in Exhibit B annexed hereto and made a part
                  hereof ("Owner's Work"). The scope and detail of Owner's Work
                  shall be limited solely to terms set forth in Exhibit B.
                  Owner's Work shall be performed in a good, safe and
                  workman-like manner and in accordance with all Legal
                  Requirements, subject to the provisions of Paragraph #78
                  (Force Majeure) and any of Tenant's Work interfering with
                  Owner's Work. However, Owner shall not be liable to Tenant for
                  damages of any kind resulting from Owner's delay in delivering
                  possession of the premises to Tenant, for whatever reason,
                  provided that Owner is able to deliver possession by or before
                  April 1, 2004.

            ii.   The term "Substantial Completion" or "Substantially Complete"
                  shall mean that, with the exception of minor punch list items
                  that do not interfere with Tenant's Work or with the use and
                  occupancy of the Premises, Owner's Work shall have been
                  completed in accordance with the specifications set forth
                  herein and Owner shall have obtained a temporary or permanent
                  certificate of occupancy with respect thereto, if required.
                  OWNER WILL GIVE TENANT AT LEAST FIVE DAYS NOTICE OF
                  SUBSTANTIAL COMPLETION OF OWNER'S WORK AND THE PARTIES SHALL
                  SCHEDULE A WALK-THROUGH UPON ISSUANCE OF OWNER'S

                                       32

<PAGE>

                  NOTICE. IMMEDIATELY FOLLOWING THE WALK-THROUGH, THE PARTIES
                  SHALL AGREE UPON AND EXECUTE A "PUNCH LIST" OF ITEMS NECESSARY
                  OR DESIRABLE TO COMPLETE OWNER'S WORK, ALONG WITH A SCHEDULE
                  OF TIME WITHIN WHICH TO COMPLETE SUCH "PUNCH LIST" ITEMS,
                  WHICH SCHEDULE SHALL NOT EXCEED 30 DAYS EXCEPT TO THE EXTENT
                  ANY SUCH PUNCH LIST ITEM REQUIRES MATERIALS THAT WILL NOT BE
                  AVAILABLE WITHIN SUCH TIME.

            iii.  Except for the completion of the aforementioned punch list
                  items, Tenant's occupancy of the premises shall be deemed to
                  be its acknowledgment that it has examined and accepts the
                  Demised Premises in "as is" condition on the Lease
                  Commencement Date, latent defects, hazardous substances, and
                  Owner's obligations under the lease excepted. Further, Tenant
                  agrees that Owner shall have no obligation to perform any
                  additional work, supply any materials, incur any expense or
                  make any additional improvements, installations or alterations
                  to the Demised Premises, beyond Owner's Work, in order to
                  prepare the Demised Premises for Tenant's occupancy and use.

      B.    TENANT'S WORK

            i.    Subject to the provisions of Articles 3, 6l and 64 hereof,
      Tenant shall perform or cause the performance of Alterations in and to the
      Demised Premises to prepare same for Tenant's occupancy thereof including,
      but not limited to, installation of all interior plumbing, and lighting
      fixtures, ceiling treatments, interior partitions, window treatments,
      floor and wall coverings, distribution of electric (Owner shall provide 6
      watts per rentable square foot connected load exclusive of HVAC) and
      distribution of HVAC (Owner shall provide perimeter HVAC) ("Tenant's
      Initial Alteration") and all furniture, furnishings and equipment to adapt
      the Premises for the Permitted Use. All materials used in connection with
      Tenant's Initial Alteration shall be new and first quality. Tenant shall
      submit to Owner detailed architectural, mechanical and engineering plans
      and specifications showing Tenant's Initial Alteration, which shall be
      prepared by Tenant, at Tenant's expense, and to the extent not
      pre-approved shall be submitted to Owner on or before ten days after the
      date hereof for Owner's approval. The plans and specifications, as
      approved by Owner, are hereinafter referred to as the "Final Plans", and
      shall be deemed an authorization by Owner for Tenant to proceed after the
      Commencement Date or such earlier date as Owner may permit Tenant to have
      access to the Premises for Tenant's Initial Alteration, which shall be
      performed by Owner (pursuant to Paragraph ii below) or by contractors
      reasonably approved by Owner and otherwise in accordance with the terms of
      this Lease. The approval of the Final Plans by Owner shall not be deemed
      to create any liability on the part of Owner with respect to the design or
      specifications set forth in the Final Plans or an acknowledgment on the
      part of the Owner that the Final Plans are in compliance with all
      applicable governmental laws, rules and regulations.

            ii.   Within 30 days after approval by Owner of the Final Plans, and
      providing that Tenant has not already engaged Owner to perform the work,
      Tenant

                                       33

<PAGE>

      shall deliver to Owner a proposal by one or more contractors reasonably
      approved by Owner. Owner shall have the right, by notice given to Tenant
      within 30 days after receipt of such proposal, to elect to perform
      Tenant's Initial Alteration upon the terms set forth in Contractor's
      Proposal. Upon such election, Owner and Tenant shall enter into an
      agreement for the performance of Tenant's Initial Alteration upon such
      terms.

            iii.  In the event that Owner elects to perform Tenant's Initial
      Alteration, Owner shall pay a portion of the total construction cost
      thereof (including only hard construction costs, materials incorporated in
      Tenant's Initial Alteration, filing and other government al fees and
      charges, but not including costs of furniture, furnishings and decorative
      items) (the "Initial Alteration Cost") equal to Owner's Contribution (as
      defined below), as verified by Tenant through provision of receipted
      invoices (or such other proof of payment as Tenant sha1l reasonably
      require).

            iv.   In the event that Owner does not elect to perform Tenant's
      Initial Alteration, Owner shall reimburse Tenant for a portion of the cost
      of Tenant's Initial Alteration, as approved by Owner and made by Tenant,
      in the amount of Owner's Contribution. Provided this Lease is then in full
      force and effect and Tenant is not in default hereunder beyond any
      applicable notice and grace period and Tenant has opened the Premises for
      business to the public, Owner shall pay Owner's Contribution to Tenant,
      less any amounts deducted therefrom pursuant to Subsection (v), within
      thirty (30) days after satisfactory completion of Tenant's Initial
      Alteration and submission by Tenant of (i) "as-built" drawings showing
      Tenant's Initial Alteration, (ii) a detailed breakdown of Tenant's final
      and total construction costs, together with receipted invoices (or such
      other proof of payment as Owner shall reasonably require) showing payment
      thereof, (iii) a written statement from Tenant's architect or engineer
      that the work described on any such invoices has been completed in
      accordance with the Pinal Plans, (iv) all required AIA forms, supporting
      final lien waivers and releases executed by the general contractor and all
      major subcontractors employed by Tenant in connection with Tenant's
      Initial Alteration, (v) a copy of a certificate of occupancy or amended
      certificate of occupancy required in respect of the Premises.

            v.    Tenant shall pay all of Owner's reasonable out-of-pocket costs
      incurred in connection with Tenant's Initial Alteration, consisting of up
      to $500 for each engineering, or other outside consulting fee incurred by
      or on behalf of Owner for the review and approval of Tenant's Final Plans
      and for approval of construction of Tenant's Initial Alteration. Owner, at
      its option, may deduct such costs from Owner's Contribution.

            vi.   For the purposes of this Lease, "Owner's Contribution" shall
      mean $63,760 [$20.00 per square foot] [subject to verification of square
      footage], at Tenant's election to be applied against the cost of
      construction (if performed by Owner) or against Rent otherwise owing.

39.   COMMENCEMENT DATE AND TERM OF LEASE

                                       34

<PAGE>

      A.    THE COMMENCEMENT DATE OF THIS LEASE (THE "LEASE COMMENCEMENT DATE")
SHALL BE THE DATE ON WHICH THE DEMISED PREMISES IS DELIVERED TO TENANT IN
CONDITION FOR OCCUPANCY, WITH OWNER'S WORK SUBSTANTIALLY COMPLETE, WITH ONLY
PUNCH LIST ITEMS REMAINING TO BE COMPLETED. WITHIN TEN (10) DAYS AFTER OWNER'S
AND TENANT'S DETERMINATION OF THE LEASE COMMENCEMENT DATE, AND AFTER AGREEMENT
ON THE FINAL PUNCH LIST AFTER THE FINAL WALK-THROUGH, TENANT SHA1L EXECUTE A
NOTICE CONFIRMING SUCH DATE, BUT THE FAILURE OF OWNER OR TENANT TO EXECUTE SUCH
INSTRUMENT SHALL NOT AFFECT THE MUTUALLY-AGREED-UPON DETERMINATION OF THE LEASE
COMMENCEMENT DATE. THE TERM OF THIS LEASE SHALL EXPIRE ON THE LAST DAY OF THE
MONTH WHICH OCCURS SIX YEAR(s) AFTER THE LEASE COMMENCEMENT DATE (THE "LEASE
EXPIRATION DATE"), UNLESS SUCH TERM SHALL SOONER EXPIRE OR BE EXTENDED AS IN
THIS LEASE PROVIDED.

      B.    THE TENANT'S OBLIGATION TO PAY THE ANNUAL BASE RENT PROVIDED FOR
HEREIN SHALL COMMENCE ON THE LEASE COMMENCEMENT DATE AND END ON THE LEASE
EXPIRATION DATE.

40.   REAL ESTATE TAX ESCALATIONS

      A.    FOR THE PURPOSES OF THIS SECTION 40, OWNER AND TENANT AGREE AS
FOLLOWS:

            1.    "Base Tax Amount" shall mean the Village Taxes for the Village
      of Irvington for the 2004/05 Tax Year, the Town/County Tax for the Town of
      Greenburgh and Westchester County for the 2004 Tax Year and the School
      Taxes for the Irvington School District for the fiscal year 2004/05 Tax
      Year, adjusted as appropriate for full assessment.

            2.    "Taxes" shall mean the amount of all real estate taxes, fees
      and any assessments and governmental charges levied, whether by federal,
      state, county, municipal, or other taxing districts or authorities
      presently or hereafter created, assessed against BSP (Tax Lots Sec. 4,
      Sheet 3, Lots PI02. P105, PI07, P109 and P4B) and any other taxes, fees,
      charges or assessments attributable to the Property. If and to the extent
      that due to a change in the method of taxation, any other tax or charge
      shall be a substitute for or supplement to any of the foregoing, then all
      such items shall be included within the term Taxes for the purposes of
      this Lease. All actual expenses reasonably paid in contesting the validity
      or amount of any Taxes or in obtaining a refund of Taxes shall be
      considered as part of the Taxes for the year in which paid, but not to
      exceed the amount saved thereby.

            3.    "Tax Year" shall mean the period(s) adopted by any applicable
      governmental authorities as its fiscal year for real estate tax purposes.

            4.    "Owner's Tax Statement" shall mean an instrument or invoice
      setting forth or adjusting Tenant's Tax Contribution (as defined in
      Subparagraph C hereof) or any installment thereof for a specified Tax Year
      pursuant to this Paragraph 39.

            5.    "Tenant's Share" shall mean 1.55%.

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<PAGE>

      B.    Tenant agrees to pay in addition to base rent as additional rent
during the term of this lease and any and all renewals, extensions, and
modifications hereof an amount ("Tenant's Tax Contribution") equal to Tenant's
Share of the amount by which the Taxes in any Tax Year exceed the Base Tax
Amount. All such payments shall be appropriately pro-rated for any partial tax
year occurring during the term hereof.

      C.    Tenant shall pay Owner on the first day of each calendar month
during the term and amount equal to one-twelfth (1/12th) of the amount Owner
reasonably estimates from time to time as necessary to pay Tenant's Tax
Contribution. Such estimates shall be based upon actual tax bills to the extent
available and Owner's reasonable estimate of projected increases in the amount
of the. Any such estimate shall be subject to adjustment when the actual amount
of Real Estate Taxes shall be determined, and payment by Tenant to Owner of any
deficiency, or payment by Owner to Tenant for any overpayment, shall be made
within 20 days after delivery by Owner to Tenant of Owner's Tax Statement. Only
Owner shall be eligible to institute or prosecute a tax certiorari proceedings
to reduce the assessed valuation of the premises.

41.   COMMON AREA MAINTENANCE ESCALATIONS.

      A.    For the purposes of this Section 41, Owner and Tenant agree as
follows:

            (1)   "Common Area Maintenance Expenses" shall mean any or all
      reasonable, actual, and competitive expenses paid by Owner in connection
      with the operation, management, maintenance, cleaning, and repair in, of
      and to the buildings and grounds included in BSP including, without
      limitation the following: (i) costs of repairing, operating, lighting,
      cleaning painting, decorating all exterior and common areas of the BSP
      (including, without limitation, all floors, roofs, elevators, walls,
      stairs, signs, landscaping and shrubbery, parking areas and sidewalks,
      (ii) salaries, wages (including all vacation and disability payments,
      insurance, retirement benefits and other benefits and similar expenses) of
      employees which Owner may engage in the on-site operation and maintenance
      of BSP up to the level of Building Manager; (iii) payroll taxes, workmen's
      compensation; (iv) water waste line maintenance (including sewer rental)
      furnished to BSP, together with any taxes on any such utilities .provided
      that such taxes are not payable under any other provision of this lease;
      (v) the cost of all insurance carried by Owner applicable to BSP
      (including, without limitation, primary and excess liability, and further
      including vehicle insurance (only for vehicles dedicated to BSP), fire and
      extended coverage, vandalism and all broad form coverage including,
      without limitation, riot, strike, and war risk insurance, flood insurance,
      boiler insurance, plate glass insurance and sign insurance); (vi) the cost
      of all building and cleaning supplies; (vii) the cost of all reasonable
      and customary charges for service contracts with independent contractors
      for all areas of the BSP; (viii) the cost of landscaping, site maintenance
      and snow removal; (viii) sales and use taxes not payable under another
      provision of this lease; (ix) security systems, security personnel; and
      any other costs and expenses in connection with the operation, maintenance
      and repair of BSP.

            (2)   "Base Expense Year" shall mean calendar year 2005, adjusted
      for full occupancy and for any extra costs of start up and systems under
      warranty.

                                       36

<PAGE>

            (3)   "Owner's Expense Statement" shall mean an instrument showing
      in reasonable detail Tenant's Expense Payment for the previous Lease Year,
      along with a reconciliation of estimated payments made by Tenant as
      compared to the actual Tenant's Expense Contribution for such Lease Year,
      plus reasonable backup.

            (4)   "Tenant's Expense Share" shall mean 1.55 % [PLEASE EXPLAIN].

      B.    Tenant agrees to pay in addition to base rent as additional rent
during the term of this lease and any and all renewals, extensions, and
modifications hereof an amount, an amount equal to Tenant's Expense Share of the
amount by which the Common Area Maintenance Expenses in any Lease Year exceed
the Common Area Maintenance Expenses for the Base Expense Year ("Tenant's
Expense Contribution").

      C.    Tenant shall pay Owner on the first day of each calendar month
during the term hereof, together with the monthly installment of Base Rent, the
amount estimated by Owner to be one-twelfth (l/12th) of Tenant's Expense
Contribution, as such estimate may be adjusted from time to time upon written
notice to Tenant. Any such adjusted estimates shall become effective as of the
next monthly payment of Tenant's Expense Contribution.

      D.    Following the end of each Lease Year, Owner will submit to Tenant
Owner's Expense Statement for such Lease Year. Within thirty (30) days after
receipt of Owner's Expense Statement, Tenant shall pay to Owner any additional
amounts owed to Owner as shown on Owner's Expense Statement. Every Owner's
Expense Statement given by Owner to Tenant as set forth herein shall be
conclusive and binding upon Tenant unless (a) within 30 days after the receipt
of such statement, Tenant shall notify Owner that it disputes the correctness
thereof, specifying the particular respects in which such statement is claimed
to be incorrect. and (b) if such dispute shall not have been settled by
agreement, Tenant shall have the right to conduct an audit using an outside
auditor reasonably acceptable to Owner. If the result of such audit fails to
resolve the dispute, either party may submit the dispute to arbitration before a
panel of three accountants, one chosen by the Owner, who may by the Owner's
regular accountants, one by the Tenant and a third chosen by the two previously
appointed accountants. Pending the determination of such dispute by agreement or
arbitration as aforesaid, Tenant shall, within fifteen (15) days after receipt
of the Owner's Expense Statement, pay additional rent in accordance with such
statement and such payment shall be without prejudice to Tenant's position. If
the dispute shall be determined in Tenant's favor, Owner shall forthwith credit
against future payments of Tenant's Expense Contribution (or if no further
payments are due from Tenant, shall pay to Tenant) the amount of Tenant's
overpayment of rents resulting from compliance with the Common Area Maintenance
Expense Statement. If the dispute shall be determined in Owner's favor, Tenant
shall pay all amounts owed to Owner within twenty (20) days after such
determination.

      E.    If during all or part of any Lease Year, including the base year,
less than ninety-five (95%) percent of the BSP is occupied or leased, then, for
the purpose of computing the additional rent payable hereunder, the amount of
the Common Area Maintenance Expenses for such Lease Year shall be deemed to be
an amount (as reasonably determined by Owner) equal to the Common Area
Maintenance Expenses which would have

                                       37

<PAGE>

been incurred during such period by Owner had such occupancy been ninety-five
(95%) percent throughout such Lease Year.

42.   ADDITIONAL RENT

      A.    All of the rent and additional rent hereunder shall he payable
directly to the Owner unless the Owner notifies Tenant otherwise.

      B.    All sums whatsoever payable by Tenant under this Lease and not
otherwise included within rent or additional rent shall constitute additional
rent and shall be payable without set-off or deduction, except as so specified
elsewhere in this Lease.

      C.    Tenant shall have fifteen (15) days from the service of any
additional rent statement to notify Owner, by certified mail, return receipt
requested, that it disputes the correctness of such statement. After the
expiration of such fifteen (15) day period, such statement shall be binding and
conclusive upon Tenant. Any such dispute shall be settled by audit and
arbitration as set forth in Paragraph 41 above. If such dispute is finally
determined in Tenant's favor, Owner shall credit against future payments owed by
Tenant (or if no further payments are due from Tenant, shall pay to Tenant) the
amount of Tenant's overpayment. If such dispute is finally determined in Owner's
favor, Tenant shall pay all amounts owed to Owner within twenty (20) days after
such determination.

43.   HOLDOVER

      A.    Tenant hereby indemnifies and agrees to hold Owner harmless from and
against any loss, cost, liability, claim, damage, fine, penalty and expense,
including reasonable attorney's fees and disbursements, resulting from delay
greater than 90 days by Tenant in surrendering the Demised Premises upon the
termination or expiration of this lease as provided herein. Tenant shall in such
case be responsible for the cost of necessary temporary quarters of a successor
tenant but not damages from business interruption.

      B.    In the event Tenant remains in possession of the Demised Premises
after termination or expiration of this lease without the execution of a new
lease and without Owner's permission, Tenant, at the option of Owner, shall be
deemed to be occupying the Demised Premises as a tenant from month to month, at
a monthly rental equal to 1.25 times the base rent and additional rent payable
during the last month of the term of this lease, subject to all the other terms
of this lease insofar as the same are applicable to a month to month tenancy.

44.   GLASS ENTRANCE AND DOORS: PLATE GLASS INSURANCE.

      Tenant shall replace, at Tenant's expense, any and all plate glass or
doors or windows including front and rear building entrance doors damaged or
broken by Tenant or its employees, agents or invitees by any cause whatsoever in
and about the Demised Premises. At Owner's written request, Tenant shall provide
to Owner a paid up policy of plate glass insurance, which policy names the Owner
as an additional insured to the extent of its interest and which covers the
glass windows and doors on the premises.

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<PAGE>

45.   UTILITIES. ETC.

      A.    Except as otherwise provided in this Article 45, electric current
shall be supplied by Owner on a submetering basis. Tenant covenants and agrees
to purchase the same from Owner or Owner's designated agent, at the charges,
taxes, terms and rates paid by Owner from time to time in connection with the
supply of electric current to the Building plus ten percent (10%) (?). The
amount payable by Tenant shall increase in the same proportion as any increases
after the date hereof in the charges, taxes, terms or rates to Owner in
connection with the supply of electric current to the Building. All payments
shall be due within thirty (30) days after receipt of an invoice therefor from
Owner plus reasonable backup.

      B.    Owner may elect at any time during the Term to discontinue supplying
electric current to the Demised Premises. In such event, this Lease shall
continue in full force and effect and Tenant shall, at its sole cost and
expense, make its own arrangements with the utility company servicing the
Building for obtaining gas and electricity for the and for the payment of all
charges relating thereto. Should Owner elect thus to discontinue submetering
service, Owner shall not discontinue electricity until Tenant has completed
arrangements for direct supply of the same. Owner shall be responsible for the
cost of installation of the meter and any required additional risers required
for Tenant to obtain such electric current directly from the public utility
supplying same. Tenant agrees to pay for electricity and gas consumed, as shown
on said meter as and when bills are rendered, directly to the utility providing
such service, and on default in making such payment Owner may pay such charges
and collect the same from Tenant as additional rent. In the event that at any
time during the term hereof there is no meter measuring Tenant's consumption of
electricity or gas, Tenant's pro-rata portion of such expenses shall be based
upon square footage and actual use, as determined by Owner.

      C.    Owner shall not be responsible for service and/or charges for
electricity in or to the Demised Premises. Owner shall not in any way be liable
or responsible to Tenant for any loss or damage or expense which Tenant may
sustain or incur if either the quantity or character of electric service is
changed or is no longer available or suitable for Tenant's requirements, except
insofar as such deficiency is caused by Owner's negligence or intentional acts.
Except for such negligence or intentional acts, interruption or curtailment of
such service shall not constitute a constructive or partial eviction nor entitle
Tenant to any compensation or abatement of rent, unless due to the act or
omission of Owner, its employees, agents or contractors. Tenant shall keep the
sub-meter or meter measuring Tenant's utility consumption and any related
equipment in good working order and repair at Tenant's own cost and expense in
default of which Owner may cause such sub-meter or meter and equipment to be
replaced or repaired and collect the cost thereof from Tenant as additional
rent.

47.   WATER CHARGES

      If Tenant requires, uses or consumes water for any purpose in addition to
ordinary lavatory and kitchenette purposes (as determined by Owner in Owner's
reasonable discretion), Owner may install a water meter and thereby measure
Tenant's water consumption for all purposes. Throughout the duration of Tenant's
occupancy Tenant shall

                                       39

<PAGE>

keep said meter and installation equipment in good working order and repair at
Tenant's own cost and expense in default of which Owners may cause such meter
and equipment to be replaced or repaired and collect the cost thereof from
Tenant, as additional rent. Tenant agrees to pay for water consumed in excess of
the "base" amount required for lavatory and kitchenette use , as shown on said
meter and when bills are rendered, and on default in making such payment Owner
may pay such charges and collect the same from Tenant, as additional rent.
Tenant covenants and agrees to pay, as additional rent, the sewer rent, charge
or any other tax, rent, levy or charge which now or thereafter is assessed,
imposed or a lien upon the Demised Premises or the realty of which they are part
pursuant to law, order or regulation made or issued in connection with the use,
consumption, maintenance or supply of water, water system or sewage or sewage
connection or system.

48.   SIENS

      Tenant shall not install or maintain any sign, symbol or advertisement on
the exterior of the Demised Premises, except on the main directory. All signs
are subject to Owners reasonable prior written consent and shall comply with
appropriate building codes and municipal requirements and shall be commercially
manufactured (no paper or hand -written signs). Tenant shall be entitled to
include its logo in its sign.

49.   BROKER

      Tenant and Owner mutually acknowledge and represent that they have dealt
with no person or corporation with respect to the negotiation of this Lease.
Each party agrees to indemnify and hold the other harmless from and against any
claims for brokerage commissions or other compensation from any person or
corporations with whom it has dealt.

50.   INDEMNITY

      (b)   Tenant shall indemnify, defend and hold harmless Owner and its
members, managers, officers, directors, employees, attorneys and agents
(collectively, the "Indemnitees") from and against any and all claims, demands,
causes of action, judgments, damages, losses, costs and expenses (including
without limitation reasonable attorneys' fees and disbursements) for any damage
to any property or injury, illness or death of any person (a) occurring in, on,
or about the Demised Premises, or any part thereof, arising at any time and from
any cause whatsoever other than Owner's own actions; (b) occurring in, on or
about any part of BSP other than the Demised Premises, when such damage, injury,
illness or death shall be caused in whole or in part by any act or omission or
negligence or willful or criminal misconduct of Tenant, its agents, servants,
employees, or licensees; (c) arising out of or in any way related to claims for
work or labor performed or materials or supplies furnished to, or at the request
of, Tenant or in connection with the performance of any work done by or for the
account of Tenant, whether or not Tenant obtained. Owner's permission to have
such work done, labor performed or materials or supplies furnished; or (d)
arising out of or in any way related to any breach of a covenant or condition in
this Lease to be performed by Tenant. The provisions of this Paragraph shall
survive the expiration or sooner termination of this Lease.

                                       40

<PAGE>

      (c)   Owner shall indemnify, defend and hold harmless Tenant and its
officers, directors, employees, attorneys and agents (collectively, the
"Indemnitees") from and against any and all claims, demands, causes of action,
judgments, damages, losses, costs and expenses (including without limitation
reasonable attorneys' fees and disbursements) for any damage to any property or
injury, illness or death of any person (a) occurring in, on, or about the
Demised Premises, or any part thereof, arising at any time and from Owner's own
actions; (b) occurring in, on or about any part of BSP other than the Demised
Premises, when such damage, injury, illness or death shall be caused in whole or
in part by any act or omission or negligence or willful or criminal misconduct
of Owner, its -agents, servants, employees, or licensees; (c) arising out of or
in any way related to claims for work or labor performed or materials or
supplies furnished to, or at the request of, Owner or in connection with the
performance of any work done by or for the account of Owner; or (d) arising out
of or in any way related to any breach of a covenant or condition in this Lease
to be performed by Owner. The provisions of this Paragraph shall survive the
expiration or sooner termination of this Lease.

51.   Insurance

      A.    Tenant shall obtain and keep in full force at all times commencing
with Tenant's occupancy, and continuing throughout the term, at its own cost and
expense, comprehensive general liability insurance, such insurance to afford
protection initially in an amount of not less than $1,000,000 for injury or
death to anyone person, $1,000,000 for injury or death arising out of anyone
occurrence, and $500,000 for damage to property, protecting the Owner as
additional insured to the extent of its interest, and Tenant as insured against
any and all claims for personal injury, death or property damage occurring in,
upon, adjacent to, or in connection with the Demised Premises and any part
thereof and from time to time during the term for such higher limits, if any, as
are currently carried with respect to similar properties in the area where the
building is located. There shall be added to or included within such
comprehensive general liability insurance all other coverage's as may be usual
to Tenant's use of the Demised Premises, including without limitation, products
and completed operations liability, independent contractors liability, broad
form comprehensive general liability endorsements, and broad form property
damage liability, as appropriate in light of Tenant's use. Tenant shall carry at
all times:

            1.    Worker's compensation and employer's liability as required by
      law, if applicable.

            2.    New York State disability benefits liability as required by
      law, if applicable.

            3.    "All Risk" property insurance upon Tenant's Property,
      including contents and trade fixtures; such coverage is to be written on a
      replacement cost basis and in an amount of not less than 100% of the full
      replacement value thereof.

      B.    All required insurance is to be written by insurance companies
licensed to do business in the State of New York which shall be reasonably
satisfactory to the Owner. The original insurance policies or appropriate
certificates shall be deposited with Owner together with any renewals,
replacements or endorsements to the end that said insurance shall be in

                                       41

<PAGE>

full force and effect for the benefit of Owner during the term. In the event
Tenant shall fail to procure and place such insurance, the Owner may on
reasonable prior notice to Tenant, but shall not be obligated to, procure and
place same, in which event the amount of the premium paid shall be remitted by
Tenant to Owner upon demand and shall in each instance be collectible on the
first day of the month or any subsequent month following the date of payment by
Owner, as additional rent.

      C.    All required policies shall Include provisions insuring Tenant's
property and business interest in the Demised Premises (business interruption
insurance) against loss, damage or destruction by fire or other casualty, and a
waiver of the insurer's right of subrogation against the Owner, only if
obtainable without additional charge. If such waiver is not available without
additional charge or at all, the Tenant shall so notify the Owner promptly after
learning thereof. In such case, if the Owner shall so elect and shall pay the
insurer's additional charge therefor, such waiver shall be included in the
policy. Each policy which shall contain agreements by the insurer that the
policy will not be materially changed, amended or canceled without at least
twenty (20) days prior notice to Owner, and that the act or omission of one
insured will not invalidate the policy as to the other insured.

      D.    There shall be maintained deductibles in such amounts as Tenant
shall reasonably determine but in no event in excess of $5,000.00 with respect
to a property insurance policy and in no event in excess of $5,000.00 with
respect to a liability insurance policy.

      E.    At least 10 days prior to commencement of construction of any work
in the Demised Premises, Tenant and Tenant's contractor shall deliver to Owner
(and Owner's mortgagees, if required by them) certificates of insurance or
policies required by evidencing all insurance coverages provided in this
Article. Tenant's contractor shall be required to comply with all of such
insurance obligations only through final completion of all such work.

      F.    Except for insurance for Tenant's trade fixtures and personal
property at the premises, all property insurance policies shall cover the
interest of Tenant, Owner, and/or Owner's mortgagees, as their interest may
appear, and the policies therefor shall provide that adjustment of any losses
thereunder shall include in the negotiation, not be settled or finalized
without, and be payable to, Owner and Owner's mortgagees. All such property
insurance policies shall contain a provision allowing other insurance that is
provided to or for Owner.

      G.    All policies of insurance maintained by Tenant under this Article
shall be written as primary policies not contributing with, nor in excess of,
insurance coverage that Owner and its mortgagees may have. Tenant shall not
carry separate or additional insurance which, in the event of any loss or
damage, is concurrent in form or would contribute with the insurance required to
be maintained by Tenant under this Lease.

      H.    If Tenant shall not insure for business interruption, or, to the
extent that Tenant shall be a self insurer (including, without any limitation,
any deductible under any insurance policy) Tenant agrees that Owner shall be
released, and Tenant hereby releases Owner, from business interruption loss
which could have been covered by an insurance

                                       42

<PAGE>

policy if Tenant had chosen to purchase one, except insofar as is otherwise
provided for in this lease.

52.   MAINTENANCE

      A.    Other than as elsewhere provided herein, Tenant is responsible for
all costs associated with the maintenance of the non-structural portions of the
Demised Premises and in keeping the Demised Premises in a proper manner and in a
general state of cleanliness and repair.

      B.    Tenant shall, at its own sole cost and expense, maintain and keep in
good order, condition and repair, all mechanical items, the use of which is
included herein or is required for the permitted use of the Demised Premises by
the health and building codes of the Village of Irvington, Town of Greenburgh or
Westchester County, as well as hot water heater, pumps, vents, ducts and
fixtures located within the Demised Premises, provided, however, that
notwithstanding anything else set forth in this paragraph, Owner shall have sole
responsibility for maintenance and repair or replacement of the HVAC system and
any components thereof.

      C.    Owner shall be responsible for all structural repairs to the
building, unless such repairs are necessitated by Tenant's wrongful acts or
negligence, including the acts or negligence of its agents or employees.

53.   OWNER'S COSTS TO APPROVE OR CONSENT

      If Tenant requests Owner's approval or consent to alterations, additions,
improvements, or assignment or any other matter or thing requiring Owner's
consent or approval under this Lease, and if in connection with such request
Owner seeks the advice of it s attorneys, architect and/or engineer, then Owner,
as conditions precedent to granting its consent or approval, may require that
the Tenant pay the reasonable fee of Owner's attorneys, architect and/or
engineer in connection with the consideration of such request and/or the
preparation of any documents pertaining thereto; provided however that in anyone
alteration or other matter requiring Owner review, Tenant's liability for such
costs shall not exceed $500 per professional (attorney, architect or
engineer's).

54.   USE AND OPERATION

      A.    The Demised Premises shall be used for general office use, uses
ancillary thereto, and no other purposes.

      B.    Any change from substantially the use as described herein shall
constitute a default under this Lease.

      C.    The Tenant shall not suffer or permit the Demised Premises to be
used in any manner, or anything to be done therein, or suffer or permit anything
to be brought into or kept therein, which would in any way (i) result in the
Demised Premises not being operated in a manner consistent with a first-class,
high quality office or which would be inconsistent

                                       43

<PAGE>

with the nature and the operation of the building, or (ii) constitute a public
or private nuisance.

55.   BREACH BY TENANT

      A.    In the event of a breach or threatened breach by Tenant of any of
the covenants or provisions of this Lease, Owner shall have the right to enjoin
any such breach or threatened breach.

      B.    Any and all rights and remedies which Owner may have under this
Lease and at law or in equity, shall be cumulative and shall not be deemed
inconsistent with each other, and any two or more or all of said rights and
remedies may be exercised at the same time or at different times and from time
to time. If any of the aforesaid provisions or any other provision of this lease
shall be unenforceable or void, said provision shall be deemed eliminated and of
no force and effect and the balance of this Lease shall continue in full force
and effect. If any notice is required by law to be given, such notice shall be
given.

      C.    The Tenant covenants and agrees to pay on demand Owner's expenses,
including reasonable attorneys' fees and disbursements, incurred in successfully
enforcing any obligation of the Tenant under the Lease or in curing any default
by Tenant under this Lease.

      D.    The Owner shall have a lien on Tenant's interest in this Lease to
secure the payment and performance of Tenant's obligations hereunder.
Furthermore, to secure: (i) the payment of all base rent and additional rent;
and (ii) Tenant's performance of all of its obligations under this Lease, Tenant
grants to Owner an express first and prior lien and security interest in all
fixtures and similar personal property which are and may be placed In the
Demised Premises after the date hereof, and the proceeds thereof, and upon all
proceeds of any insurance which may accrue to Tenant by reason of the
destruction or damage of any such property. Tenant will not remove such property
in which Owner has an interest as provided herein (except Tenant may remove
fixtures and similar personal property if same is replaced at the premises by
property of like quality and equivalent value) without the prior written consent
of Owner until Owner sha1l have released its lien, or this Lease is terminated
for reasons of Owner's default as determined by a court of competent
jurisdiction, or the termination of such security interest as provided in this
Lease, whichever first occurs. Tenant waives the benefit of all exemption laws
in favor of such lien and security interest. This lien and security interest is
given in addition to Owner's statutory lien and is cumulative with it. Upon the
occurrence of a default, which default is not cured within the applicable cure
period, these liens may be foreclosed with or without court proceedings by
public or private sale, so long as Owner gives Tenant at least fifteen (15) days
written notice of the time and place of the sale. Owner will have the right to
become the purchaser if it is the highest bidder at such sale. By executing this
Lease, Tenant is authorizing Owner to file Uniform Commercial Code Financing
statements in form and substance sufficient (upon proper filing) to perfect the
security interest granted in this section and any Uniform Commercial Code
continuation on statements as may be required in the future to reflect any
proper amendment of, modification in, or extension of the security interest
granted in this section. This section shall constitute a "security agreement" as
said term is defined in the New York Uniform Commercial Code. The security
interest

                                       44

<PAGE>

and lien created by this subparagraph shall terminate, and Owner shall deliver
to Tenant one or more UCC-3 termination statements terminating such lien, upon
the earlier of: (i) The termination of this Lease by reason of Owner's default
as determined by a court of competent jurisdiction or (ii) the termination or
other expiration of this Lease pursuant to its terms.

      E.    Additionally, should the Premises not be occupied for a period of in
excess of 240 consecutive days absent Owner's consent, it shall be a non-curable
default hereunder. Notwithstanding foregoing, if the Premises are closed by
reason of a fire or other casualty, then the provisions herein shall not apply,
unless the same would result in the loss of the present use for the Premises.

56.   ADDITIONAL SERVICES

      Tenant covenants and agrees that, in the event any law, rule regulation or
judicial determination has the effect of increasing any of the services to be
furnished by Owner hereunder, Tenant agrees to pay to Owner, as additional rent,
the reasonable cost incurred or to be incurred by Owner to provide such
additional service to Tenant or Tenant's pro-rata share if provided to other
Tenants.

57.   REFUSE

      A.    Tenant shall at all times keep the areas used by Tenant for ingress
and egress to the Demised Premises free and clear of all dirt, garbage, rubbish,
refuse (which such term "refuse" as used in the Lease shall mean and include
crates, boxes, merchandise, containers, bottles, paper, food and similar items),
snow and ice.

      B.    Tenant shall accumulate all garbage, rubbish and refuse for disposal
only within the interior of the Demised Premises and not in the common or
services area and in areas therein kept closed by a door and in well -covered
sanitary containers designed to prevent odors from emanating therefrom. No such
garbage, rubbish or refuse shall be removed, or be permitted to be removed, from
the interior of the Demised Premises, except in accordance with local law and
Building Rules and Regulations. Tenant shall be responsible for all costs and
expenses in connection with Tenant's garbage removal. Tenant shall also comply
with all laws and ordinances with regard to its garbage removal and be
responsible for any breach thereof.

58.   EXTERMINATOR

      Tenant shall, at its sole cost and expense, keep the Premises free from
vermin, rodents, or anything of like, objectionable nature which emanates from
the Premises or is caused by Tenant's use of the Premises, and shall employ only
a licensed exterminator at the request of Owner. In the event of Tenant's
failure to keep the Premises free from vermin, rodents or anything else of like
nature, Owner shall have the right, at Tenant's expense, to take all necessary
steps or measures to eradicate any and all vermin and rodents and other things
of like nature from the Demised Premises and the cost thereof shall be added as
additional rent to the installment of fixed minimum rent payable on the next
monthly rental payment date and Tenant shall pay on that date such additional
rent.

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59.   OWNER'S LIMITED LIABILITY

      Anything in this lease to the contrary notwithstanding, Tenant for itself,
its successors and assigns, covenants and agrees that the liability of the Owner
shall be limited so that only the assets and interest of the Owner in and to
One-Two Bridge Street, and the Bridge Street Property, Irvington, New York,
shall be available and/or liable for the satisfaction, or security for payment
of any judgment or claim against Owner or any indebtedness of Owner arising from
any default by Owner. Tenant for itself, its successors and assigns, covenants
and agrees that no other assets of any of the principals of Owner whether owned
by them jointly or severally, directly or indirectly, shall be liable to payor
satisfy any such judgment, claim, demand or indebtedness arising from any
default by Owner.

60.   LATE PAYMENT

      If Tenant shall fail to pay any installment of base rent or any amount of
additional rent for more than ten (10) days after the same shall have become due
and payable, and shall have received five days written notice without having
complied, Tenant shall pay Owner a late charge of five cents for each dollar of
the amount of such base rent or additional rent as shall not have been paid to
Owner within such ten (10) days after becoming due and payable. Such late
charges shall be without prejudice to any of Owner's rights and remedies
hereunder or at law or in equity for nonpayment or late payment of rent and
shall be in addition thereto.

61.   ALTERATION

      A.    Prior to the commencement of any changes, improvements or
alterations to the Demised Premises, Tenant shall submit to Owner, for Owner's
approval, plans and specifications (to be prepared by and at the expense of
Tenant) for any proposed changes, improvements or alterations, in detail
reasonably satisfactory to Owner. Owner's approval of any plans and
specifications shall not indicate that such plans and specifications comply with
applicable laws, rules and regulations; Tenant shall have sole responsibility
for ensuring such compliance. Owner's consent shall not unreasonably be withheld
conditioned or delayed. If Owner shall give its approval to any such changes,
improvements and/or alterations as provided herein, the same shall be performed
by Tenant, at Tenant's sole cost and expense, in accordance with the approved
plans and in a good and workmanlike manner. Tenant shall, before making any
alterations, additions, installations or improvements, at its expense, obtain
all permits, approvals and certificates required by any governmental or
quasi-governmental bodies and (upon completion) certificates of final approval
thereof and shall deliver promptly duplicates of all such permits, approvals and
certificates to Owner. Tenant agrees to carry and will cause Tenant's
contractors and sub-contractors to carry such worker's compensation, general
liability, personal and property damage insurance as Owner may reasonably
require. No amendments or additions to the approved plans and specifications
shall be made without the prior written consent of Owner. The standards of
quality, utility and appearance of the proposed changes, improvements or
alterations shall conform to the reasonable standards specified and/or to be
specified by Owner, and Tenant agrees that Tenant will conform to such
standards. Notwithstanding the foregoing, Tenant

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<PAGE>

shall be able to perform nonstructural alterations not costing more than one
hundred dollars ($100), of suitable quality, and not affecting the structure or
systems, without the necessity of prior consent of Owner.

      B.    Tenant covenants and agrees that all changes, improvements, and
alterations will be made with the least possible disturbance to the occupants of
other parts of the building. Tenant, in making such changes, improvements or
alterations, shall and will, at Tenant's own cost and expense, promptly comply
with all laws, rules and regulations, whether now or hereafter enacted
(including, without limitation, The Americans with Disabilities Act of 1990, all
regulations issued thereunder and the Accessibility Guidelines for Buildings and
Facilities issued pursuant thereto, as all of the foregoing may be amended from
time to time) of all public authorities having jurisdiction in the building
and/or the Demised Premises with reference to such changes, improvements or
alterations, whether ordinary or extraordinary, structural or otherwise,
foreseen or unforeseen, as applicable at the time of each such change,
improvement or alteration, and will not call up on Owner for any expenses
connected therewith, and will reimburse Owner for any expenses incurred on
account of failure by Tenant to comply with any requirement of law, rules and
regulations, and of any public authority, whether involving structural changes
or not.

      C.    Tenant shall promptly pay and discharge all costs and expenses of
such changes, improvements or alterations, and shall not do or fail to do any
act which shall or may render the building or BSP liable to any mechanic's lien
or other lien or charge or chattel mortgage or security interest or conditional
bill of sale or title retention agreement. If any such lien or liens or other
charge or chattel mortgage or security interest or conditional bill of sale or
title retention agreement is filed against the building or BSP, or against such
changes, improvements or alterations, or any part thereof, Tenant will, at
Tenant's sole cost and expense, promptly remove the same of record within thirty
(30) days after the filing of any such lien or liens or other charge or chattel
mortgage or security interest or conditional bill of sale or title retention
agreement and notice of such filing to Tenant by Owner or otherwise. In default
thereof, Owner may cause such lien or liens or other charge or chattel mortgage
or security interest or conditional bill of sale or title retention agreement to
be removed of record by payment or bond or otherwise, as Owner may elect, and
Tenant will reimburse Owner for all reasonable costs and expenses incidental to
the removal of any such lien or liens or other charge or chattel mortgage or
security interest or conditional bill of sale or title retention agreement
incurred by Owner. Tenant covenants and agrees to indemnify and save harmless
Owner of and from all claims, counsel fees, loss, damage and expenses whatsoever
by reason of any liens, charges, chattel mortgages, security interests,
conditional bills of sale, title retention agreements or payments of any kind
whatsoever that may be incurred or become chargeable against Owner, the building
or BSP, or said changes, improvements or alterations, or any part thereof, by
reason of any work done or to be done or materials furnished or to be furnished
to or upon the Demised Premises in connection with such changes, improvements or
alterations, except insofar as any of the same result from work performed by or
for Owner .

      D.    Subject to the provisions of Article 3 hereof dealing with Initial
Alterations, and provided that Owner is not performing or causing the
performance of the Work, Tenant hereby covenants and agrees to indemnify and
save harmless Owner of and from all claims, reasonable counsel fees, loss,
damage and expenses whatsoever by reason of any injury or

                                       47

<PAGE>

damage, howsoever caused, to any person or property occurring prior to the
completion of such changes, improvements or alterations or occurring after such
completion, as a result of anything done or omitted in connection therewith or
arising out of any fine, penalty or imposition or out of any other matter or
thing connected with any work done or to be done or materials furnished or to be
furnished in connection with such changes, improvements or alterations performed
by Tenant or at the request of Tenant. At any and all times during the period of
such changes, improvements or alterations, Owner shall be entitled to have a
representative or representatives on the site to inspect such changes,
improvements or alterations, and such representative or representatives shall
have free and unrestricted access to any and every part of the Demised Premises.

      E.    Tenant agrees that it will not, either directly or indirectly, use
any contractors, labor and/or materials if the use of such contractors, labor
and/or materials would or will create any difficulty with other contractors,
subcontractors and/or labor then engaged by Tenant or Owner or others in the
construction, maintenance and operation of the building or any part thereof.
Tenant and its contractors and mechanics may, prior to the commencement of the
term hereof, enter upon the Premises at all reasonable hours, at the sole risk
of Tenant, for the purpose of making such changes, improvements or alterations,
provided that Tenant and its contractors and mechanics do not interfere with
Owner, its contractors, or with the occupants of other parts of the building.
Such entry shall be upon all of the terms and conditions of this lease other
than Owner's obligation to provide services and Tenant's obligation to pay rent.
Any changes, improvements or alterations shall comply with all laws and
ordinances, and all rules, orders and regulations of all governmental and
quasi-governmental agencies, authorities, bureaus, departments and officials,
and of all insurance bodies, at any time duly issued or in force, applicable to
the building, the Demised Premises, or any part thereof.

62.   TENANT'S ADDITIONAL COVENANTS

      A.    Tenant shall not make any exterior architecture change (whether by
alteration, replacement, rebuilding .or otherwise) or change the exterior color
and/or architectural treatment of the Demised Premises or of the building or any
part thereof.

      B.    Tenant shall not use the plumbing facilities for any purpose other
than that for which they were constructed, or dispose of any garbage or other
foreign substance therein, whether through the utilization of so called
"disposal" or similar units, or otherwise. The plumbing facilities shall not be
used for refrigeration purposes or for any other purposes other than that for
which they are constructed, no foreign substance of any kind shall be thrown
therein, and the expense of any breakage, stoppage, or damage resulting from a
violation of this provision shall be borne by Tenant;

      C.    Tenant shall not subject any fixtures or equipment in or on the
Demised Premises which are affixed to the realty, to any mortgage, liens,
conditional sales agreements, security interest or encumbrances, except as is
otherwise permitted hereunder; Notwithstanding the foregoing, Tenant shall have
the right to lease office equipment and supplies in the ordinary course of
Tenant's business, and shall have the right to grant liens and to enter security
agreements and conditional sales agreements in connection therewith.

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<PAGE>

      D.    Tenant shall not suffer, allow or permit any odor or any noise,
vibration or other effect to constitute a nuisance or otherwise interfere with
the safety, comfort or convenience of Owner or other Tenants in the building.

63.   SECURITY

      Supplementing the provisions of Article 34, Tenant has deposited with
Owner the sum of $17,002.67 as security hereunder, with a cash deposit. Tenant
shall increase the security in accordance with and at the same time base rent
increases are effective hereunder so that one (1) month's base rent shall be on
deposit at all times. If at any time Tenant shall be in default in the payment
of rent or in the keeping, observance or performance of any other covenant,
agreement, term, provision or condition, Owner may at its election apply the
security so on deposit with Owner, to the payment of any such rent or to the
payment of the costs incurred or to be incurred by Owner in curing such default,
as the case may be. If, as a result of any such application of all or any part
of such security, the amount of security so on deposit with Owner shall be less
than required, Tenant shall forthwith deposit with Owner an amount equal to the
deficiency. If at the expiration of the term of this lease Tenants shall not be
in default in the keeping, observance or performance of any such other covenant,
agreement, term, provision or condition, then Owner shall, within a reasonable
time after the expiration of said term, return to Tenant said security, if any,
then on deposit with Owner.

64.   IMPROVEMENTS

      All improvements, changes and alterations made by or on behalf of Tenant
in and/or to the Demised Premises (including work done by Owner at the request
of Tenant, but excluding items of personally not affixed to the real property
and Tenant's trade fixtures) shall, upon installation, become the property of
Owner and shall be surrendered by Tenant to Owner at the expiration or sooner
termination of the term of this Lease. If any security interest, chattel
mortgage or other lien or encumbrance shall attach to the Tenant's Initial
Improvements or any change, improvement or alteration thereto, Tenant will, at
Tenant's sole cost and expense, promptly cause same to be released of record
within ten (10) days after notice of the attachment thereof, failing which Owner
may cause same to be released by payment, bond or otherwise, as Owner may elect,
and Tenant will reimburse Owner for all reasonable costs and expenses incidental
to the removal of any such lien, security interest, chattel mortgage or other
lien or encumbrance, incurred by Owner. Upon failure of Tenant to so reimburse
Owner at its option shall become Owner thereof. Tenant further covenants and
agrees that, prior to opening for business at the Demised Premises, the entire
cost of all changes, improvements and alterations made by or on behalf of Tenant
at Tenant's expense (other than punch list items still to be completed,
reasonable hold-backs to ensure completion, or items reasonably in dispute) will
be fully paid for.

65.   MISCELLANEOUS

      A.    If any of the provisions of this Lease, or the application thereof
to any person or circumstances, shall, to any extent, be invalid or
unenforceable, the remainder of this Lease, or the application of such provision
or provisions to persons or circumstances other than those as to whom or which
it is held invalid or unenforceable, shall not be affected thereby, and every
provision of this Lease shall be valid and enforceable to the fullest extent

                                       49

<PAGE>

permitted by law. Each covenant, agreement, obligation or other provision of
this Lease on Tenant's part to be performed, shall be deemed and construed as a
separate and independent covenant of Tenant, not dependent on any other
provision of this Lease.

      B.    This Lease shall be governed in all respects by the laws of the
State of New York.

      C.    Without incurring any liability to Tenant, Owner may permit access
to the Demised Premises and open the same, whether or not Tenant shall be
present, upon demand of any receiver, trustee, assignee for the benefit of
creditors, sheriff, Marshall or court officer entitled to, or reasonably
purporting to be entitled to, such access for the purpose of taking possession
of, or removing, Tenant's property or for any other lawful purpose (but this
provision and any action by Owner hereunder shall not be deemed a recognition by
Owner that the person or official making such demand has any right or in or to
this Lease, or in or to the Demised Premises), or upon demand of any
representative of the fire, police, building, sanitation or other department of
the city, state or federal governments, in each case presenting appropriate
identification. Owner shall in such cases take reasonable steps to secure the
confidentiality of Tenant's business secrets.

      D.    Tenant agrees that its sole remedies in cases where Owner's
reasonableness in exercising its judgment or withholding its consent or approval
is applicable pursuant to a specific provision of this Lease, or any rider or
separate agreement relating to this Lease, If any, shall be those in the nature
of an injunction, declaratory judgment, or specific performance, the rights to
money damages or other remedies being hereby specifically waived in cases of
assignment, sublet, and construction, provided that the parties submit to
arbitration as provided above on an expedited basis , unless Owner has acted in
bad faith.

      E.    This Lease shall not be binding upon Owner or Tenant unless and
until it is signed by Owner or Tenant and a fully executed copy thereof is
delivered to the other party.

      F.    This Lease shall be construed without regard to any presumption or
other role requiring construction against the party causing this Lease, or any
part thereof to be drafted.

66.   CONDITION OF DEMISED PREMISES

      A.    Supplementing the provisions of Article 15 hereof Owner makes no
representations as to the size of the Demised Premises. Tenant shall give proper
notice to Owner of any notice it receives of the violation of any law or
requirement of any public authority with respect to the Demised Premises or the
use or occupation thereof. If any governmental authority having jurisdiction
over the Demised Premises shall require additional fire fighting equipment,
Tenant agrees to install and maintain such equipment at its sole cost and
expense.

      B.    Tenant covenants and agrees to conduct its business at the Demised
Premises so as to prevent any noxious or offensive odors from said Demised
Premises and Tenant further covenants and agrees to install, operate and
maintain proper and sufficient flue, ventilating and exhaust systems and any
other equipment, electrical and/or mechanical or any kind, all at Tenant's sole
cost and expense, as deemed necessary or desirable to prevent

                                       50

<PAGE>

or abate such odors, and in full compliance with all laws, codes, resolution,
rules, regulations of the premises and otherwise, requirements and
recommendations of all governmental and quasi-governmental agencies or
authorities.

67.   NOTICE

      Any bill, notice or other communication which either party may desire or
be required to give to the other under this lease shall be deemed sufficiently
given or rendered if in writing and delivered by registered or certified mail,
return receipt requested, as follows:

      1.  From Owner to Tenant at:             2.  From Tenant to Owner at:

          Electro-Optical Sciences, Inc.           Bridge Street Properties, LLC
          3 West Main Street                       One Bridge Street
          Irvington, New York 10533                Irvington, New York 10533
          Attn: President
          With a copy to: William Bronner          Attn:  William Thompson

After the Commencement Date, either party shall have the right to substitute
addresses for such notices upon prior written notice to the other given in the
manner hereinabove set forth.

68.   ASSIGNMENT AND SUBLETTING

      A.    Each time Tenant desires to assign this Lease or sublease its
interest in the Demised Premises, it shall submit in writing to Owner (i) the
name and address of the proposed assignee or sublessee, (ii) a counterpart of
the proposed agreement or sublease, (iii) information satisfactory to Owner as
to the nature and character of the business of the proposed assignee or
sublessee, and (iv) biographical, banking, financial, credit and other
information relating to the proposed assignee or sublessee reasonably sufficient
to enable Owner to determine the character and financial responsibility of the
proposed assignee or sublessee. Any such consent of Owner shall be subject to
the terms of this paragraph and conditioned upon (i) there being no default by
Tenant beyond any applicable grace or notice period under any of the terms,
covenants and conditions of this Lease at the time that Owner's consent is
requested and on the date of the commencement of the term of any sublease or the
effective date of any such proposed assignment, (ii) delivery to Owner of a
written statement duly executed by Tenant acknowledging that Tenant shall
continue to remain directly and primarily liable to Owner under this lease for
the remaining term notwithstanding such sublease or assignment, (iii) the
proposed use by such assignee or sublessee being in compliance with Articles 2
and 15 of the printed form of this lease, (iv) Tenant paying Owner the
reasonable out of pocket costs and expenses, including architect's engineer's
and attorneys' and brokerage fees, paid by Owner with respect to such
subletting. Further, and as an additional condition to Owner's approval of any
sublease, Tenant shall remit to Owner fifty (50%) percent of any and all rent
and additional rent Tenant receives, as and when received, pursuant to the
sublease, in excess of the rent and additional rent provided for in this lease
after deducting all reasonable costs and expenses including brokerage,
advertising, market concessions, fitup, legal and other professional fees.

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<PAGE>

      C.    Upon receiving Owner's written consent, Tenant shall deliver to
Owner within ten (10) days after execution thereof a true copy of the duly
executed sublease or assignment agreement. Any such sublease shall provide that
the sublessee shall be subject to and shall comply with all applicable terms and
conditions of this lease to be performed by Tenant hereunder.

69.   NO RECORDING

      Tenant expressly warrants and represents that it will not record this
lease.

70.   ATTORNEYS FEES & REIMBURSEMENT

      Notwithstanding anything to the contrary contained in this lease, Tenant
shall reimburse Owner as additional rent for the reasonable expenses of
attorney's fees, and disbursements Owner incurs which arise out of or are caused
by (a) Tenant's default or threatened default under the terms of this lease,
whether an action, suit or proceeding is commenced based upon such default,
providing that Owner has substantially prevailed in such dispute, or (b)
Tenant's request of Owner to review or execute documents, including without
limitation, assignment, sublease, or occupancy documents in connection with this
lease.

71.   ATTORNMENT

      If the Demised Premises, building or land where the building is located is
or will be encumbered by a mortgage, and the mortgage is foreclosed, or if the
Demised Premises, building or property is sold pursuant to a foreclosure or by
reason of a default under a mortgage, the following shall apply notwithstanding
the foreclosure, the sale, or the default: (i) Tenant shall not disaffirm this
lease or any of its obligations under this lease; (ii) at the request of the
applicable mortgagee or purchaser at a foreclosure or sale, Tenant shall attorn
to the mortgagee or purchaser, and at the option of such mortgagee or purchaser
execute a new lease for the Demised Premises setting forth all the provisions of
this lease except that the term of the new lease shall be for the balance of
this lease. In confirmation of this attornment, Tenant shall promptly execute
and deliver at Its own cost and expense, any instrument, in recordable form, if
required, that Owner or any mortgagee may request to evidence such attornment,
and Tenant hereby constitutes and appoints Owner attorney-in-fact for Tenant to
executed any such instrument for and on behalf of Tenant.

72.   ADDITIONAL REMEDIES

      In the event that Owner shall pay any sum of money or do any act which
shall require the expenditure of any sums by reason of the failure of Tenant to
perform any of the covenants, terms or conditions contained in this lease,
Tenant covenants to repay immediately such sums to Owner within 20 days after
demand, together with interest thereon at the rate of twelve (12%) percent per
annum shall be added as additional rent to the next monthly installment of base
rent becoming due. Nothing contained herein shall be construed to postpone the
right of Owner immediately upon expending such sums, to collect such sums, with
interest at the aforesaid rate, by action or otherwise.

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73.   MORTGAGES

      If, in connection with obtaining, continuing or renewing financing for
which the Demised Premises, building or land or any interest therein represents
collateral in whole or in part, a lender or other mortgagee shall request
modifications of this lease as a condition of financing, Tenant will not
unreasonably withhold or delay its consent thereto, provided that such
modifications do not increase the obligations of Tenant hereunder or adversely
affect the Tenant's leasehold interest created hereunder or decrease the size of
the Demised Premises.

74.   DEMISED PREMISES

      If the general location, size and layout of the Demised Premises are
outlined in Exhibit A, such Exhibit A shall not be deemed to be a warranty,
representation or agreement on the part of Owner that the Demised Premises and
the building are as indicated thereon. Nothing in this lease shall be construed
as a grant or demise by Owner to Tenant of the roof or exterior walls of the
building, of the space above and/or below the Demised Premises, of the parcel of
land on which the Demised Premises is located, and/or any parking or other areas
adjacent to the building.

75.   OWNER'S CONSENT

      If in this lease it is provided that Owner's consent or approval as to any
matter will not be unreasonably withheld, and it is established by a court or
body having final jurisdiction thereof that Owner has been unreasonable, the
only effect of such finding shall be that Owner shall be deemed to have given
its consent or approval, but Owner shall not be liable to Tenant or any third
party in any respect for money damages by reason of withholding its consent,
unless Owner's refusal to grant consent or approval was done in bad faith.

76.   NO LIENS

      Notwithstanding anything contained in this lease to the contrary, Tenant
covenants and warrants that it shall not directly or indirectly create or permit
or suffer to be created or to remain, and will promptly after notice thereof
discharge or cause to be discharged, any mortgage, lien, encumbrance or charge
on pledge of, security interest in or conditional sale or other title retention
agreement with respect to the Demised Premises, except as expressly permitted
elsewhere in this lease.

77.   PARKING

      A.    Owner shall provide Tenant, at no cost to Tenant, for the
convenience of its employees and invitees during regular business hours ten (10)
nonspecified parking space(s) located in area or areas adjacent to 1 Bridge
Street or 2 Bridge Street, Irvington, New York, designated by notice sent by
Owner from time to time throughout the term of this lease. Owner reserves the
express right to change the location of these parking spaces as in its sole
discretion it deems appropriate from time to time. Tenant's privilege and use of
these parking spaces are subject to the Owner's rules and regulations as set
forth herein or as

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<PAGE>

otherwise established by Owner and in conformity with all local rules,
regulations and ordinances of the Village of Irvington and any other government
entity having jurisdiction over the premises.

      B.    Tenant covenants and agrees that its employees and invitees shall
not at any time cause any vehicle to be parked, placed or remain within and
along the perimeter of the building, including any and all fire lanes, parking
spaces and areas, roadway and driveways or any other area controlled by Owner,
except in areas designated by Owner for Tenant's use.

      C.    Use of all parking spaces and any other parking areas, roadways and
driveways by Tenant, its employees or invitees will be at their own risk, and
Owner shall not be liable for any injury to person or property, or for loss of
damage to any automobile or its contents, resulting from theft, collision,
vandalism or any other cause whatsoever. Owner shall have no obligation
whatsoever to provide a security guard or any other personnel or device to
patrol, illuminate, monitor, guard or secure any parking area. If, however,
Owner does so provide such guard, personnel or device, it shall be solely for
Owner's convenience, and Owner shall not be liable for any act or omission of
such guard, personnel or device in failing to prevent any such theft, vandalism,
loss injury or damage.

      D.    There shall be no overnight parking. Tenant shall cause its
employees and invitees to remove their automobiles from all parking areas at the
end of the working day. If any vehicle owned or used by Tenant, its employees or
invitees remains in any parking area, all costs, expenses and liabilities
incurred by Owner in removing said vehicle, or any damages resulting to such
vehicle or to Tenant's property or property of others by reason of the presence
or removal of such vehicle shall be paid by Tenant to Owner as additional rent
as and when billed by Owner.

      E.    If space is available, Owner agrees to provide Tenant with an
unspecified number of additional parking spaces in consideration of Tenant's
payment of additional rent at the rate of $100 per space per month ("Parking
rent") upon the same terms and conditions as set forth in this Paragraph.
Notwithstanding the foregoing, at the end of the first year of the term of this
lease, the number of parking spaces and parking rent may be increases or
decreased at the discretion of the Owner. Each such installment of additional
rent shall be remitted at the same time and in the same manner as installments
of base annual rent.

78.   FORCE MAIEURE

      Time for performance by Owner and Tenant of any term, provision or
covenant of this lease shall be deemed extended by time lost. due to delays
resulting from acts of God, strikes, unavailability of materials, civil riots,
floods, material or labor restrictions, by government authority, and any other
cause not within the reasonable control of Owner. Financial inability of either
party shall not constitute a cause for delay hereunder.

79.   RELOCATION

      Notwithstanding anything to the contrary contained herein, provided Tenant
and Owner (or a company which controls, is controlled by or under common control
with

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<PAGE>

Owner) have entered into a lease or other commitment whereby Tenant will occupy
approximately 8700 gross rentable square feet, more or less, of space in 2
Bridge Street, within BSP (the "Other Lease"), Tenant shall have a one-time
option to surrender the Premises ("Termination Option") and relocate to such
other premises in accordance with the following terms and conditions:

      a.    If Tenant desires to exercise the Termination Option, Tenant shall
            give Owner irrevocable written notice ("Termination Notice") of
            Tenant's exercise of this Termination Option, which shall be
            delivered by Federal Express or similar overnight courier, by hand
            or by certified mail which Termination Notice must be received by
            Owner no later than four months before the effective date. TIME IS
            OF THE ESSENCE with respect to Landlord's receipt of the Termination
            Notice and all other deadlines in this Article.

      b.    If Tenant gives the Termination Notice and complies with all the
            provisions in this Article, the Lease as it applies to the Premises
            only shall terminate at 11:59 p.m. on that date which shall be the
            rent commencement date under a lease amendment or separate lease
            between the parties or their affiliates for the occupancy by Tenant
            of approximately 8,700 square feet of rentable space (or such other
            amount as the parties may subsequently agree upon) in BSP located in
            Two Bridge Street (the "Termination Date").

      c.    Tenant's obligations to pay Basic Rent, Additional Rent, and any
            other costs or charges under this Lease, and to perform all other
            Lease obligations for the period up to and including the Termination
            Date, shall survive the termination of this Lease. Owner's
            obligation to repay Tenant any overcharges shall survive the
            termination of this Lease.

      d.    [Notwithstanding the foregoing, if at any time during the period on
            or after the date on which Tenant shall exercise its Termination
            Option, up to and including the Termination Date, Tenant shall be in
            default of this Lease beyond any applicable notice and. cure period,
            then Owner may elect, but is not obligated, to cancel and declare
            null and void Tenant's exercise of the Termination Option and this
            Lease shall continue in full force and effect for the full Term
            hereof unaffected by Tenant's exercise of the Termination. If Owner
            does not cancel Tenant's exercise of the Termination option after
            Tenant's default, Tenant shall cure any default within the period of
            time specified in this Lease and this obligation shall survive the
            Termination Date.

      e.    In the event Tenant exercises the Termination Option, Tenant
            covenants and agrees to surrender full and complete possession of
            the Premises to Owner on or before the Termination Date vacant,
            room-clean, in good . order and condition, and in accordance with
            the provisions of this Lease, and, subject to any contrary provision
            in the lease amendment or new lease referred to above, to reimburse
            the Owner for the cost of tenant improvements in the Demised
            Premises, and thereafter the Premises shall be free and clear of all

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<PAGE>

            leases, tenancies, and rights of occupancy of any entity claiming by
            or through Tenant.

      f.    If Tenant shall fail to deliver possession of the Premises on or
            before the Termination Date in accordance with the terms hereof,
            Tenant shall be deemed to be a holdover Tenant from and after the
            Termination Date, and in such event all covenants and terms of the
            holdover provisions of the original lease shall apply.

      g.    Tenant timely exercises the Termination Option in accordance with
            this Agreement the Lease as it applies to the Premises shall cease
            and expire on the Termination Date with the same force and effect as
            if said Termination Date were the date originally provided in this
            Lease as the Expiration Date of the Term hereof.

      h.    If this Lease has been assigned or all or a portion of the Premises
            has been sublet, this Termination Option shall be deemed null and
            void and neither Tenant nor any assignee or sublessee shall have the
            right to exercise such option during the term of such assignment or
            sublease.

80.   RENEWAL OPTION

      Provided that Tenant is then in compliance with all of the terms of this
lease, Tenant shall be allowed to extend this lease for an additional period of
six years commencing on the day following the last day of the term of this
lease. Such extended term shall be pursuant to all the terms and provisions of
this Lease, as the same may have been amended to that date, with the exception
of the amount of rent and determination of base year. The rental rate shall be
market rate or such other rate as the parties may agree upon.

81.   ENVIRONMENTAL REPRESENTATION

      Owner represents and warrants that Owner has taken no action to pollute or
to create any environmental contamination within the building or on or under the
land adjacent to it, and that Owner has no knowledge of the presence of any
pollution or contamination, including asbestos, within the Demised Premises.

Owner

BRIDGE STREET PROPERTIES LLC

By /s/ William Thompson
   ----------------------------------
   William Thompson, Managing Member

Tenant

ELECTRO-OPTICAL SCIENCES, INC.

                                       56

<PAGE>

By: /s/ William R. Bronner, V.P.
   ----------------------------------
Name and Title

                                       57

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