Document:

EX-10.32

	10.32	August 7, 2002               

	

Mr. Richard P. Adelson 
C/O Impath Inc.

521 West 57th Street 
New York, NY 10019 

Dear Richard: 

     The
purpose of this letter agreement (the “Agreement”) is to set forth the
terms of the benefits that you will be entitled to receive if IMPATH Inc. (the
“Company”) undergoes a Change of Control (as defined below) and to
supplement and conform that certain letter agreement, dated December 12, 1997
(the “Letter Agreement”), between you and the Company, with this
Agreement. 

     1. As
used in connection with the following definition of Change in Control, “Affiliate” shall
have the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Exchange
Act; “Beneficial Owner” shall have the meaning set forth in Rule 13d-3 under the
Exchange Act; “Exchange Act” shall mean the Securities Exchange Act of 1934, as
amended from time to time; “Parent” shall mean any entity that becomes the
Beneficial Owner of at least 80% of the voting power of the outstanding voting securities
of the Company or of an entity that survives any merger or consolidation of the Company
or any direct or indirect subsidiary of the Company; and “Person” shall have the
meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections
13(d) and 14(d) thereof, except that such term shall not include (i) the Company or any
of its subsidiaries, (ii) a trustee or other fiduciary holding securities under an
employee benefit plan of the Company or any of its Affiliates, (iii) an underwriter
temporarily holding securities pursuant to an offering of such securities, or (iv) a
corporation or entity owned, directly or indirectly, by the stockholders of the Company
in substantially the same proportions as their ownership of stock of the Company.  

     As
used herein, a “Change in Control” shall be deemed to have occurred if an event
set forth in any one of the following paragraphs shall have occurred:  

	 	     (I)
any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of
the Company (excluding securities acquired directly from the Company or its Affiliates)
representing 35% or more of the combined voting power of the Company’s then
outstanding securities; or

	 	     (II)
Individuals who, as of the date hereof, constitute the Board of Directors of the Company
(the “Incumbent Board”) cease for any reason to constitute at least a majority
of the Board of Directors of the Company; provided that any person becoming a director of
the Company subsequent to the date of this letter whose election, or nomination for
election, was approved by a vote of at least a majority of the directors then comprising
the Incumbent Board (other than a director whose initial assumption of office is in
connection with the settlement of an actual or threatened election contest, including but
not limited to a consent solicitation, relating to the election of directors of the
Company) shall be considered a member of the Incumbent Board; or

	 	     (III)
there is consummated a merger or consolidation of the Company or any direct or indirect
subsidiary of the Company with any other corporation or entity; provided, however, that a
Change in Control shall not be deemed to have occurred with respect to (i) a merger or
consolidation which would result in the voting securities of the Company outstanding
immediately prior to such merger or consolidation continuing to represent (either by
remaining outstanding or by being converted into voting securities of the surviving
entity or any Parent thereof) at least 65% of the combined voting power of the securities
of the Company, such surviving entity or any Parent thereof outstanding immediately after
such merger or consolidation or (ii) a merger or consolidation effected solely to
implement a recapitalization of the Company (or similar transaction) in which no Person
is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company
(not including in the securities beneficially owned by such Person any securities
acquired directly from the Company or its Affiliates) representing 35% or more of the
combined voting power of the Company’s then outstanding securities;

	

1 

	 	     (IV)
the stockholders of the Company approve a plan of complete liquidation or dissolution of
the Company, or there is consummated a sale or disposition by the Company or any of its
subsidiaries of any assets which individually or as part of a series of related
transactions constitute all or substantially all of the Company’s consolidated
assets (provided that, for these purposes, a sale of all or substantially all of the
voting securities of the Company or a Parent of the Company shall be deemed to constitute
a sale of substantially all of the Company’s consolidated assets); provided,
however, that a Change in Control shall not be deemed to have occurred with respect to
any such sale or disposition to an entity at least 65% of the combined voting power of
the voting securities of which are owned by stockholders of the Company in substantially
the same proportions as their ownership of the voting securities of the Company
immediately prior to such sale or disposition; or

	

     2. (a)
If, during the Term (as described in Section 7 below) (i) a Change in Control occurs or
(ii) your employment by the Company is terminated prior to the date a Change of Control
occurs, and it is reasonably demonstrated that such termination (a) was at the request of
a third party who has taken steps reasonably calculated to effect a Change of Control, or
(b) otherwise arose in connection with or in anticipation of a Change of Control, then
the Company shall pay to you, within 90 days after the date of the Change of Control, as
a payment for services previously rendered to the Company, a lump sum equal to three
times your Annual Compensation (as defined below) in effect immediately prior to the date
of the Change of Control (without regard to any decrease in the rate of your Annual
Compensation made after the Change in Control).  

     (b)
For purposes of this Section 2, “Annual Compensation” shall mean, at any time,
an amount equal to the sum of (i) your annual rate of salary at such time, plus (ii) 100%
of the target bonus or other cash incentive that you are eligible to earn in such year
pursuant to each plan or program (whether or not such plan or program has been formalized
or is in written form) of the Company in effect for such year that provides for bonuses
or other cash incentives, or if no such plan or program has been adopted with respect to
such year, 100% of the target bonus or other cash incentive that you were eligible to
earn in the most recent year in which such a plan or program was in effect.  

     3. (a)
If upon the occurrence of a Change of Control entitling you to receive the payment
provided in Section 2 above on account of an event described in Section 1 above, any
payment or other benefit paid or received or to be paid or received or any property
transferred or to be transferred (collectively, a “Payment”) with respect to
one or more calendar years by or on behalf of the Company (or any affiliate of the
Company) to you pursuant to this letter in connection with the Change in Control shall
constitute an “excess parachute payment” within the meaning of Section 280G(b)
of the Internal Revenue Code of 1986, as amended (the “Code”) subject to the
tax imposed by Section 4999 of the Code (the “Excise Tax”), then the Company
shall pay to you an additional amount (the “Gross Up Payment”) such that the
amount paid or transferred to you, after deduction of any Excise Tax on the Payment, and
any federal, state and local income tax, employment tax and Excise Tax upon the Gross Up
Payment, shall be equal to the Payment. References to the Code hereunder shall be to the
Code as presently in effect or to the corresponding provisions of any succeeding law.  

     (b)
For purposes of determining under Section 3(a) whether any portion of a Payment will be
subject to the Excise Tax and the amount of such Excise Tax, (A) the Payment and payments
provided for in Section 3 shall be treated as “parachute payments” within the
meaning of Section 280G(b)(2) of the Code, and all “excess parachute payments” within
the meaning of Section 280(G)(b)(1) of the Code shall be treated as subject to the Excise
Tax, unless and to the extent that tax counsel selected by the Company’s independent
auditors and acceptable to you is of the opinion that the Payment (in whole or in part)
does not constitute a “parachute payment” or such “excess parachute payment” (in
whole or in part) represents reasonable compensation for services actually rendered
within the meaning of Section 280G(b)(4) of the Code in excess of the allocable base
amount within the meaning of Section 280G(b)(3) of the Code, or the Payment is otherwise
not subject to the Excise Tax, (B) the amount of the Payment that is treated as subject
to the Excise Tax shall be equal to the lesser of (X) the total amount of the Payment,
and (Y) the amount of “excess parachute payments” within the meaning of Section
280G(b)(1) of the Code (after applying clause (A) above), (C) any Gross Up Payment
pursuant to Section 3(a) shall be treated as subject to the Excise Tax in its entirety
and (D) the value of any non-cash benefits or any deferred payment or benefit shall be
determined by the Company’s independent auditors in accordance with the principles
of Sections 280G(d)(3) and (4) of the Code.  

2 

	

     (c) If
in circumstances described in Section 3(a), by reason of the filing by you of an amended
tax return, an audit by the Internal Revenue Service or other taxing authority, or a
final determination by a court of competent jurisdiction, it is determined that “excess
parachute payments” exceeding those previously reported in your tax returns were
received by you and as a result an additional Excise Tax (the “Additional Excise Tax”)
shall become due, the Company shall pay you an additional amount (the “Subsequent
Gross Up Payment”) such that the amount paid or transferred to you, after deduction
of (A) any Additional Excise Tax and (B) on an after tax basis, any interest, additions
and penalties with respect to the Additional Excise Tax and (C) any federal, state and
local income tax, employment tax and Excise Tax upon the Subsequent Gross up Payment and
(D) the payments provided for in Section 3(a), shall be equal to the Payment.  

     (d)
Any Gross Up Payment required hereunder shall be made at least ten days prior to the due
date (without regard to extensions) of your federal income tax return for the year with
respect to which the “excess parachute payment” is deemed made under the Code.
Any Subsequent Gross Up Payment required hereunder shall be made to you within 30 days
after the amount thereof is determined. Notwithstanding the two immediately preceding
sentences, the Company shall pay any federal, state and local tax or taxes and employment
taxes required to be withheld from your wages (within the meaning of Section 3121 and
3402 of the Code) with respect to the “excess parachute payment” and any such
tax or taxes paid by the Company to the Internal Revenue Service or state or local taxing
authority shall constitute payment to you.  

     (e) If
the Excise Tax is finally determined (whether by the filing of an amended tax return by
you by audit of the Internal Revenue Service or other taxing authority, or by a final
determination of a court of competent jurisdiction) to be less than the amount paid to or
on behalf of you under the provisions of Sections 3(a)-(d) and the overpayment is
refunded to you, you shall repay to the Company, promptly following the receipt of the
refund, the portion of the Gross Up Payment (and/or Subsequent Gross Up Payment)
attributable to such reduction of the Excise Tax (plus the portion attributable to
federal, state and local income tax and employment taxes imposed on the portion being
repaid by you but only to the extent that the repayment may result in a tax benefit to
you under Section 1341 of the Code and similar provisions of applicable state and local
law).  

     4. (a)
The first sentence of Section 1 of the Letter Agreement is hereby amended by deletion of
(i) the first ten lines of such section through the word “Company” and substitution of
the phrase “Upon the occurrence of a Change of Control, as defined in the letter
agreement, dated August 7, 2002, between the Company and you,” (ii) the
remainder of such sentence after the phrase “evidencing the Options,”and (iii)
deletion From Section 1 of the Letter Agreement of the phrase “event described in
clause (i) or (ii) of the foregoing sentence”and substitution of the phrase “Change
of Control.” 

     (b)
All stock options for the purchase of common stock of the Company awarded to you on or
subsequent to September 12, 1997 are hereby amended to provide that upon a Change of
Control, as set forth in this Agreement, such stock options shall become exercisable in
full, notwithstanding any provision of the stock option plan of the Company pursuant to
which the options were granted or of the stock option agreements or certificates
evidencing the options.  

     (c)
With respect to any stock options awarded to you which are incentive stock options, the
provisions of this Section 4 shall apply to the extent permitted by Section 422(d) of the
Code, and such options in excess thereof shall, immediately upon A Change of Control, be
treated for all purposes as non-qualified stock options and shall be immediately
exercisable.  

3 

	

     (d)
Except as provided in Section 1 of the Letter Agreement as amended hereby, the provisions
of the Letter Agreement shall have no application to a Change of Control and shall not
result in benefits to you upon or in connection with a Change of Control.  

     5.
Nothing in this Agreement (a) confers upon you the right to continue in the employment of
the Company or the right to hold any particular office or position with the Company, (b)
requires the Company to pay you, or entitles you to receive, any specified annual salary
or interferes with or restricts in any way the right of the Company to decrease your
annual salary at any time, (c) interferes with or restricts in any way the right of the
Company to terminate your employment at any time, with or without cause, or (d) except as
provided herein, limits or amends the provisions of the Letter Agreement.  

     6. Any
payments due you hereunder shall be reduced by all applicable withholding and other
taxes.  

     7. The
provisions set forth in this Agreement shall continue in effect throughout its Term. For
these purposes, the Term hereunder shall commence as of August 1, 2002 and continue until
July 31, 2005. The Term shall be extended and renewed automatically for one additional
year on August 1, 2005, and on each August 1 thereafter, unless (a) you give
notice of your intent to terminate your employment, or otherwise terminate your
employment, before such date, or (b) the Company gives contrary written notice to you at
least 90 days prior to any such renewal date. Notwithstanding the foregoing, the Company
shall not terminate or fail to renew this Agreement (a) at the request of a third party
who has taken steps reasonably calculated to effect a Change of Control or (b) otherwise
in connection with or in anticipation of a Change of Control. Any such notice shall be
deemed null and void and of no force or effect.  

     This
Agreement is intended to be binding upon the Company, its successors in interest and
assigns and shall supersede and replace all other agreements (written or oral) with you
relating to benefits upon a Change of Control, except as expressly provided herein.  

     Notwithstanding
anything to the contrary contained elsewhere in this Agreement, the Compensation
Committee (the “Committee”) of the Board of Directors of the Company shall have
the authority to interpret, on behalf of the Company, the provisions of this Agreement.
The decisions of the Committee shall govern the interpretation of this Agreement,
notwithstanding any authority otherwise provided under this Agreement to another
individual, group of individuals or entity herein, including, but not limited to, the
authority to determine the eligibility for, amount, form and timing of payments
hereunder, and the calculation of “excess parachute payments” and the underlying
elements used in their determination under Code Section 280G.  

     8.
This Agreement shall be subject to, and governed by, the laws of the State of New York
applicable to contracts made and to be performed in the State of New York, regardless of
where you are in fact required to work and without reference to the conflict of law
provisions thereof.  

			Very truly
      yours, 

      

      IMPATH Inc.

      

      

      By: /s/ Richard C. Rosenzweig

             ——————————————

             Name: Richard C. Rosenzweig

             Title: Vice President and General Counsel

	

Agreed and Accepted:  

By: /s/ Richard P. Adelson 
       ———————————

       Name:
Richard P. Adelson 

Date: 8/7/02
          —————————— 

4EXECUTION COPY

               WAIVER, CONSENT AND AMENDMENT TO CREDIT AGREEMENT

                                        August 13, 2002

Cross Media Marketing Corporation
461 Fifth Avenue, 19 th Floor
New York, New York 10017

Gentlemen:

      Reference is made to the Credit Agreement among Cross Media Marketing
Corporation ("Cross Media"), Media Outsourcing, Inc. ("Media"), National
Syndications, Inc. and Preferred Consumer Marketing, Inc. (together with their
successors or assigns, the "Borrowers"), each of the lenders which is a
signatory thereto or which shall become a party thereto from time to time
(together with their respective successors and assigns, the "Lenders") and Fleet
National Bank, as agent for the Lenders (in such capacity, together with its
successors and assigns, the "Agent"), and as Issuing Agent, dated as of March
19, 2002 (as amended through the date hereof, the "Credit Agreement") and each
of the other Facility Documents referred to therein. All capitalized terms used
herein shall have the meanings assigned thereto in the Credit Agreement, unless
otherwise defined herein.

      The Borrowers have advised the Agent and the Lenders that they are in
violation with certain provisions of the Credit Agreement. In addition, Cross
Media has requested permission to borrow up to $3,000,000 in additional
subordinated indebtedness and to secure such indebtedness with a security
interest in Borrowers' assets, which will be subordinated to the Agent's
security interest therein.

      Therefore, the Borrowers have requested the Agent and the Lenders to
permit the borrowing of up to $3,000,000 as described above and to waive its
noncompliance with certain provisions of the Credit Agreement.

      In consideration of granting such waivers and consent and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, each of the undersigned hereby agrees as follows:

      1. Consent to Borrowing. Subject to the terms and conditions contained
herein, the Agent and the Lenders hereby agree that, notwithstanding anything to
the contrary contained in Sections 8.01 and 8.03 of the Credit Agreement, the
Borrowers may incur subordinated indebtedness in an amount not to exceed
$3,000,000 (the "New Subordinated Indebtedness"), and may secure such

<PAGE>

indebtedness with a Lien on its assets, provided that (a) the form and substance
of the promissory note representing such indebtedness and the security agreement
relating thereto are acceptable to the Agent and its counsel and (b) the
subordinated lenders and the Borrowers enter into a Subordination Agreement in
form and substance acceptable to the Agent and the Lenders.

      2. Waivers.

            (a) The failure to pay trade payables to Grant Thornton LLP and
Blank Rome Tenzer Greenblatt, as required by Section 7.16 of the Credit
Agreement and the continued failure not to pay amounts due and payable to such
trade creditors, and the resulting Event of Default created under Section
10.01(c) of the Credit Agreement, are hereby waived.

            (b) The Events of Default under Section 10.01 (d) of the Credit
Agreement resulting from the failure of the Borrowers to make note payments with
respect to the Seller Debt on June 30, 2002 ($175,000) and July 31, 2006
($175,000) are hereby waived, provided that such payments are made within 30
days from the date hereof.

            (c) The Event of Default under Section 10.01(d) of the Credit
Agreement, resulting from the Borrowers' failure to make lease payments of
$59,951 to ePlus Group, is hereby waived, provided that payments with respect to
such lease are made current within 45 days of the date hereof.

      3. Subordinated Debt. Notwithstanding anything to the contrary contained
herein or in the Credit Agreement, the Borrowers may not make any borrowings and
the Lenders shall not be obligated to make any Loans or issue any Letters of
Credit under the Credit Agreement until the full $3,000,000 of the New
Subordinated Indebtedness has been received by the Borrowers and the conditions
set forth in Section 1 above have been satisfied and the fee payable to the
Agent pursuant to paragraph 9 hereof shall have been paid; provided, however, if
Borrowers fail to receive the full $3,000,000 of the New Subordinated
Indebtedness as provided herein, within twenty (20) days from the date hereof,
an Event of Default shall be deemed to have occurred and the Agent and the
Lenders shall have all of the remedies set forth in Section 10.2 of the Credit
Agreement.

      4. Amendments to Credit Agreement. The Credit Agreement is hereby amended
as follows:

            (a) The first preamble of the Credit Agreement is amended to delete
the figure "$35,000,000" therefrom and to substitute "$30,700,000" in lieu
thereof. In connection therewith, Schedule 1.1A to the Credit Agreement is
hereby amended in its entirety to read as follows:

                                     - 2 -
<PAGE>

                "Schedule 1.1A
                Revolving Credit Commitments

Lender                                   Revolving Credit Commitment
------                                   ---------------------------
Fleet National Bank                             $12,280,000
Key Bank National Association                     6,578,570
First Union Bank                                  6,578,570
Signature Bank                                    5,262,860
                                                -----------
                                                $30,700,000"

            (b) The definition of "Applicable Margin" in Section 1.1 of the
Credit Agreement is amended in its entirety to read as follows:

                  'Applicable Margin' means a percentage equal to 0.50% with
            respect to Revolving Credit Loans that are Prime Rate Loans, 3.25%
            with respect to Revolving Credit Loans that are LIBOR Loans and
            .375% with respect to the Commitment Fee."

            (c) Article II to the Credit Agreement is hereby amended by adding a
new Section 2.13, which shall read as follows:

            "The Revolving Credit Commitments shall automatically be reduced at
            the end of each Fiscal Quarter, commencing with the Fiscal Quarter
            ending September 30, 2002, consistent with the automatic reduction
            of outstanding L/C Obligations in accordance with the terms of the
            outstanding Standby Letters of Credit issued under the Credit
            Agreement as set forth on Schedule A attached hereto. Each such
            reduction shall reduce each Lender's Revolving Credit Commitment,
            pro rata.

            (d) Section 9.01 of the Credit Agreement, effective as of June 30,
2002, is hereby amended in its entirety to read as follows:

                  "Section 9.01 Leverage Ratio. The Borrowers shall maintain, as
            determined at the end of each Fiscal Quarter, a Leverage Ratio of
            not greater than (a) 3.00 to 1.00 for the Fiscal Quarter ending June
            30, 2002, (b) 4.75 to 1.00 for the Fiscal Quarter ending September
            30, 2002, (c) 4.25 to 1.00 for the Fiscal Quarter ending December
            31, 2002, and (d) 2.00 to 1.00 for each Fiscal Quarter thereafter."

                                     - 3 -
<PAGE>

            (e) Section 9.04 of the Credit Agreement, effective as of June 30,
2002, is hereby amended in its entirety to read as follows:

            "Section 9.04. Minimum EBITDA. The Borrowers shall maintain, as
            determined as at the end of each Fiscal Quarter, for the four Fiscal
            Quarter period ending on such date of determination, Consolidated
            EBITDA of not less than (a) $12,000,000 at the end of the Fiscal
            Quarter ending June 30, 2002, (b) $8,700,000 at the end of the
            Fiscal Quarter ending September 30, 2002, (c) $9,300,000 at the end
            of the Fiscal Quarter ending December 31, 2002, and (d) $15,000,000
            at the end of each Fiscal Quarter thereafter; each such amount shall
            be increased by an amount equal to 75% of the EBITDA of any entity
            that is the subject of an Acquisition during such four Fiscal
            Quarter measurement period (provided that, with respect to an
            Acquisition of a joint venture, such joint venture becomes, upon
            consummation of the Acquisition, a Consolidated Entity) for the same
            four Fiscal Quarter period during which the Acquisition of such
            entity occurred, including the EBITDA of such entity for the
            portions of such four Fiscal Quarter period occurring both before
            and after the consummation of the Acquisition."

            (f) Section 10.01 of the Credit Agreement is hereby amended by
deleting the "or" after subsection 10.01(l) and by adding new subsections (n)
and (o) thereto, which shall read as follows:

            "(n) if the Action commenced by the Federal Trade Commission against
            Cross Media and Media, and certain of their officers, alleging that
            their magazine division was violating the Telemarketing Sales Rules,
            the Federal Trade Commission Act and a 1997 FTC order entered into
            by Direct Sales International, Inc., a predecessor company, is
            settled by the Borrowers on terms that would require the Borrowers
            to make a payment of damages, penalties, fines or similar payment in
            excess of $1,000,000; or

            (o) if the Borrowers fail (i) to pay the Obligations in full and the
            Lenders' obligation to make Loans pursuant to the Credit Agreement
            has not been terminated or (ii) to enter into a binding commitment
            with one or more financial institutions reasonably acceptable to the
            Agent (a "Binding Commitment"), which will enable the Borrowers to
            pay in full all of the Obligations and terminate the Credit
            Agreement, on or before November 1, 2002; provided, however, that if
            Borrowers have obtained a binding commitment in satisfaction of

                                     - 4 -
<PAGE>

            subclause (ii) hereof, but if the Obligations are not paid in full
            and the Lenders' obligation to make Loans has not been terminated on
            or before November 30, 2002, then an Event of Default hereunder
            shall be deemed to have occurred; provided, however, that no Event
            of Default shall be deemed to have occurred if the Borrowers pay to
            the Agent, for the pro-rata benefit of the Lenders, a non-refundable
            extension fee in the amount of $50,000, on or before November 1,
            2002 or November 30, 2002, whichever is applicable (the "Extension
            Fee"); provided, however, if the Extension Fee is paid, an Event of
            Default shall nonetheless be deemed to have occurred (x) if the
            Borrowers have not obtained a Binding Commitment on or before
            November 30, 2002 or, (y) if such Binding Commitment is obtained by
            such date, if the Borrowers fail to pay the Obligations in full and
            the Lenders' obligation to make Loans under the Credit Agreement has
            not been terminated on or before December 31, 2002."

            (g) Except as amended herein, the Credit Agreement shall remain in
full force and effect.

      5. Representations, Warranties and Covenants. In addition to the
continuing representations, warranties and covenants heretofore or hereafter
made by Borrowers to the Agent and the Lenders pursuant to the Facility
Documents, the Borrowers represent, warrant and covenant with and to the Agent
and the Lenders as follows (which representations, warranties and covenants are
continuing and shall survive the execution hereof):

            (a) the representations and warranties contained in the Credit
Agreement and each other Facility Document are true and correct in all material
respects on and as of the date hereof (after giving effect hereto) as though
made on and as of the date hereof, except to the extent (i) that any such
representation or warranty was made as of a specific date, and (ii) the Agent
and the Lenders have been previously notified of amendments thereto, as
indicated on Schedule B attached hereto;

            (b) this Waiver, Consent and Amendment to Credit Agreement has been
duly executed and delivered by Borrower and is in full force and effect as of
the date hereof, and the agreements and obligations of Borrower contained herein
constitute the legal, valid and binding obligations of Borrower, enforceable
against each of them in accordance with its terms;

            (c) no Default or Event of Default (after giving effect hereto)
exists on the date hereof; and

            (d) the failure of Borrower to comply with the covenants, conditions
and agreements contained herein, or if any representation, warranty or statement
in effect by Borrower

                                     - 5 -
<PAGE>

to the Agent or the Lenders contained herein is false or misleading in any
material respect, it shall constitute an Event of Default.

      6. Defaults and Events of Default. The parties hereto acknowledge, confirm
and agree that the execution and delivery of this Waiver, Consent and Amendment
to Credit Agreement by the Agent, the Lenders and the Issuing Lender shall not
be construed to constitute a waiver (except as provided in paragraph 2 hereof)
or release by the Agent, the Lenders or the Issuing Lender of any Default or
Event of Default which has occurred prior to the date hereof, or which exists as
of the date hereof or may exist or occur at any time after the date hereof, or
of any rights or remedies of the Agent, the Lenders or the Issuing Lender as a
result thereof, under any of the Facility Documents, applicable law or
otherwise.

      7. Conditions Precedent. This Waiver, Consent and Amendment to Credit
Agreement shall become effective upon delivery to the Agent of original
counterpart signature pages to this Waiver, Consent and Amendment to Credit
Agreement, duly executed and delivered by the Borrowers.

      8. Release. In consideration of, among other things, the execution and
delivery of this Waiver, Consent and Amendment to Credit Agreement by the Agent,
the Lenders and the Issuing Lender, each of the Borrowers, on behalf of itself
and its successors and assigns (collectively, "Releasors"), hereby forever
waives, releases and discharges to the fullest extent permitted by law any and
all claims (including without limitation, crossclaims, counterclaims, rights of
set off and recoupment, causes of action, demands, suits, costs, expenses and
damages (collectively, the "Claims")), that any Releasor now has or hereafter
may have, of whatsoever nature and kind, whether known or unknown, whether now
existing or hereafter arising, whether arising at law or in equity, against any
or all of the Agent, the Lenders and the Issuing Lender and their respective
affiliates, shareholders and "controlling persons" (within the meaning of the
federal securities laws), and their respective successors and assigns and each
and all of the officers, directors, employees, agents, attorneys, consultants
and other representatives of each of the foregoing (collectively, the
"Releasees"), based in whole or in part on facts, whether or not now known,
existing on or before the execution of this Waiver, Consent and Amendment to
Credit Agreement. In entering into this Waiver, Consent and Amendment to Credit
Agreement, the Borrowers have consulted with, and been represented by, legal
counsel and expressly disclaim any reliance on any representations, acts or
omissions by any of the Releasees and hereby agree and acknowledge that the
validity and effectiveness of the release set forth above do not depend in any
way on any such representations, acts and/or omissions or the accuracy,
completeness or validity hereof. The provisions of this paragraph 7 shall
survive the termination of the Credit Agreement and the other Facility Documents
and payment in full of the Obligations.

      9. Fees. In consideration of providing the waivers and consent in
accordance herewith, the Borrowers agree to pay to the Agent for the pro-rata
benefit of the Lenders a non-refundable fee of $75,000, which shall be payable
at the earlier of (a) receipt by the Borrowers of the proceeds of

                                     - 6 -
<PAGE>

the $3,000,000 of the New Subordinated Indebtedness or (b) twenty (20) days from
the date hereof . The Borrowers also acknowledge and agree that, pursuant to the
Credit Agreement, it is obligated to pay the Agent, upon demand, all reasonable
costs and expenses incurred in connection with the preparation, execution and
enforcement of this Waiver, Consent and Amendment to Credit Agreement.

      10. Governing Law. This Waiver, Consent and Amendment to Credit Agreement
and the rights and obligations hereunder of each of the parties hereto shall be
governed by and interpreted and determined in accordance with the laws of the
State of New York.

      11. Binding Effect. This Waiver, Consent and Amendment to Credit Agreement
shall be binding upon and inure to the benefit of each of the parties hereto and
their respective successors and assigns.

      12. Severability. Any provision of this Waiver, Consent and Amendment to
Credit Agreement held by a court of competent jurisdiction to be invalid or
unenforceable shall not impair or invalidate the remainder of this Waiver,
Consent and Amendment to Credit Agreement and the effect thereof shall be
confirmed to the provision so held to be invalid or unenforceable.

      13. Counterparts. This Waiver, Consent and Amendment to Credit Agreement
may be executed in any number of counterparts, but all of such counterparts
shall together constitute but one and the same agreement. In making proof of
this Waiver, Consent and Amendment to Credit Agreement, it shall not be
necessary to produce or account for more than one counterpart thereof signed by
each of the parties hereto.

                           [Signature page to follow]

                                     - 7 -
<PAGE>

      If you are in agreement with the foregoing, please sign the enclosed
counterparts of this Agreement in the spaces provided below, whereupon this
Agreement, as so accepted, shall become a binding agreement between the parties
hereof.

                                          FLEET NATIONAL BANK, As Agent
                                          By : /s/ Paul Krische
                                               ---------------------------------
                                          Name: Paul Krische
                                                --------------------------------
                                          Title: Vice President
                                                 -------------------------------

                                          LENDERS:

                                          FLEET NATIONAL BANK

                                          By : /s/ Paul Krische
                                               ---------------------------------
                                          Name: Paul Krische
                                                --------------------------------
                                          Title: Vice President
                                                 -------------------------------

                                          KEYBANK NATIONAL ASSOCIATION

                                          By : /s/ Ronald W. Gale
                                               ---------------------------------
                                          Name: Ronald W. Gale
                                                --------------------------------
                                          Title: District SVP
                                                 -------------------------------

                                          FIRST UNION NATIONAL BANK

                                          By : /s/ Patricia Guadreau
                                               ---------------------------------
                                          Name: Patricia Guadreau
                                                --------------------------------
                                          Title: Vice President
                                                 -------------------------------

                                          SIGNATURE BANK

                                          By : /s/ Maria Hegi
                                               ---------------------------------
                                          Name: Maria Hegi
                                                --------------------------------
                                          Title: Vice President
                                                 -------------------------------

                                          ISSUING LENDER:

                                          FLEET NATIONAL BANK, as Issuing Lender

                                          By : /s/ Paul Krische
                                               ---------------------------------
                                          Name: Paul Krische
                                                --------------------------------
                                          Title: Vice President
                                                 -------------------------------

<PAGE>

READ AND AGREED TO:

BORROWERS:

CROSS MEDIA MARKETING CORPORATION

By: /s/ Chet Borgida
    ---------------------------------
Name: Chet Borgida
     --------------------------------
Title: SVP & CFO
      -------------------------------

MEDIA OUTSOURCING, INC.

By: /s/ Chet Borgida
    ---------------------------------
Name: Chet Borgida
     --------------------------------
Title: SVP & CFO
      -------------------------------

NATIONAL SYNDICATIONS, INC.

By: /s/ Chet Borgida
    ---------------------------------
Name: Chet Borgida
     --------------------------------
Title: SVP & CFO
      -------------------------------

PREFERRED CONSUMER MARKETING, INC.

By: /s/ Chet Borgida
    ---------------------------------
Name: Chet Borgida
     --------------------------------
Title: SVP & CFO
      -------------------------------

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00042-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00042-of-00352.parquet"}]]