Document:

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THIS NOTE HAS BEEN ACQUIRED FOR INVESTMENT PURPOSES ONLY AND HAS NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"),
OR UNDER ANY APPLICABLE STATE SECURITIES LAWS. THIS NOTE MAY NOT BE SOLD OR
OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR
PURSUANT TO AN EXEMPTION UNDER THE SECURITIES ACT AND SUCH APPLICABLE STATE
SECURITIES LAWS.

THIS NOTE WAS ISSUED WITH ORIGINAL ISSUE DISCOUNT ("OID") WITHIN THE MEANING OF
THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. HOLDERS OF THIS NOTE MAY CONTACT
THE CHIEF FINANCIAL OFFICER OR CONTROLLER OF THE BORROWER AT (203) 221-0411 TO
RECEIVE INFORMATION ABOUT SUCH OID DESCRIBED IN TREASURY REGULATION ss.
1.1275-3(b)(1)(i).

$14,136,452              GREENFIELD ONLINE, INC.                  May 17, 1999
                                                            New York, New York

                            Promissory Note
                            Due May 17, 2009

         FOR VALUE RECEIVED, the undersigned GREENFIELD ONLINE, INC., a
Connecticut corporation (the "Borrower"), hereby promises to pay to Greenfield
Holdings, LLC or its registered assigns ("Holdings"), the principal sum of
FOURTEEN MILLION ONE HUNDRED THIRTY SIX THOUSAND FOUR HUNDRED FIFTY TWO DOLLARS
($14,136,452) or such greater or lesser principal amount which may be
outstanding hereunder (including as a result of the exercise of the PIK Option)
on May 17, 2009 (the "Maturity Date"), with interest (computed on the basis of
the actual number of days elapsed over a 360-day year) on the unpaid balance of
such principal sum from the date hereof at an interest rate equal to the
Applicable Rate (or upon and during the continuance of an Event of Default (as
defined in Section 5), at the Applicable Rate in effect from time to time during
the continuance of such Event of Default plus 2%), payable in cash (unless the
Borrower elects to exercise the PIK Option in the manner set forth below) on
each May 17, (each an "Interest Payment Date"), commencing May 17, 2000, and on
the Maturity Date, until the entire principal amount hereof shall have become
due and payable, whether on the Maturity Date or at a date fixed for prepayment
or by acceleration or declaration or otherwise. As used herein, the term
"Applicable Rate" shall mean (i) during the period commencing on the date hereof
to but excluding May 17, 2001, 7.5%, (ii) during the period commencing on May
17, 2001 to but excluding May 17, 2003, 9.5% and (iii) at any time thereafter,
10.5%. If any payment of interest due hereunder becomes due and payable on a day
which is not a Business Day (as defined below), the due date thereof shall be
the next succeeding day which is a Business Day. Payments of principal and
interest shall be made in lawful money of the United States of America in
immediately available funds by check or wire transfer to the address or account
designated by Holdings. Notwithstanding the foregoing, the Borrower shall have
the option on any Interest Payment Date to pay 70% of the interest due on such
date (the "Scheduled Interest Payment") by electing (the "PIK Option") to
increase the principal amount due under this Note by 70% of the amount of such
Scheduled Interest Payment, whereupon, immediately thereafter, the principal
amount of this Note shall be increased by 70% of such Scheduled Interest Payment
and interest thereafter shall accrue on the principal amount of this Note as so
increased. As used in this Note, the term "Business Day"

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means any day upon which commercial banks in the State of New York are not
required or permitted to be closed.

         Section 1. Issuance of Note. Upon the terms and subject to the
conditions contained herein (i) the Borrower has authorized the issuance to
Holdings of this Promissory Note (this "Note") in an aggregate principal amount
of up to $14,136,452 or such greater or lesser amounts as may be outstanding
hereunder (including as a result of the exercise of the PIK Option).

         Section 2. Mandatory Prepayments. Upon the occurrence of any of the
following events, the principal amount of this Note, together with all accrued
interest thereon, shall become immediately due and payable: (i) the Borrower
winds up, liquidates or dissolves its affairs; (ii) the Borrower enters into any
transaction of merger or consolidation where an aggregate consideration in
excess of $20 million in cash or property shall be paid as the consideration
therefor; (iii) the Borrower conveys, sells, leases or otherwise disposes of all
or substantially all of its assets, or purchases or otherwise acquires (in one
or a series of related transactions) all or substantially all of the property or
assets of any Person (iv) the Borrower effects an initial public offering of its
equity securities or (v) the stockholders of the Borrower on the date of this
Note cease to own at least 40% of the outstanding capital stock of the Borrower
on a fully-diluted basis. As used in this Note, the term "Person" is to be
construed in the broadest sense and means and includes any natural person,
company, partnership, limited liability corporation, joint venture, corporation,
business trust, unincorporated organization or governmental authority.

         Section 3. Representations and Warranties of the Borrower. The Borrower
hereby confirms that all of the representations and warranties (including
related definitions) made by the Borrower to Holdings in Article III of the
Stock Purchase and Redemption Agreement dated as of May 12, 1999 among the
Borrower, Andrew Greenfield and Holdings (as the same may be amended, restated
or otherwise modified from time to time, the "Purchase Agreement") are hereby
true and correct in all material respects. The Borrower further represents and
warrants to Holdings that no Event of Default has occurred and is continuing.

         Section 4. Covenants.

               4.1  Affirmative Convenants.

                     (a) Information. From time to time, the Borrower will
furnish to Holdings such information or documents (financial or otherwise) as
Holdings may request with respect to the Borrower and/or any of its
subsidiaries.

                     (b) Books, Records and Inspections. The Borrower will keep,
and will cause its subsidiaries to keep, proper books of record and account in
which full, true and correct entries in conformity with generally accepted
accounting principles and all material requirements of law shall be made. The
Borrower will, and will cause its subsidiaries to, permit officers and
designated representatives of Holdings to visit and inspect any of the
properties of the Borrower and its subsidiaries, and to examine the books of
records and account of the Borrower and its subsidiaries and discuss the
affairs, finances and accounts of the Borrower and its subsidiaries

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with, and be advised as to the same by, the Borrower's and its subsidiaries'
officers, all at such reasonable times and intervals and to such reasonable
extent as Holdings may request.

                     (c) Maintenance of Property; Insurance. The Borrower will,
and will cause its subsidiaries to, (i) keep all material property used and
necessary in the Borrower's and its subsidiaries' respective businesses in good
working order and condition, (ii) maintain with financially sound and reputable
insurance companies insurance on all the Borrower's and its subsidiaries'
respective properties in at least such amounts and against at least such risks
as maintained by each of them prior to the date of this Note, and (iii) furnish
to Holdings, upon written request, information in reasonable detail as to the
insurance carried with respect to the Borrower and its subsidiaries.

                     (d) Corporate Franchises. The Borrower will, and will cause
its subsidiaries to, do or cause to be done all things necessary to preserve and
keep in full force and effect the Borrower's and its subsidiaries' existence and
all reasonable things necessary to preserve and keep in full force and effect
the Borrower's and its subsidiaries' respective material rights, franchises,
licenses and patents.

                     (e) Compliance with Statutes, Etc. The Borrower will, and
will cause its subsidiaries to, comply with all applicable statutes, regulations
and orders of, and all applicable restrictions imposed by, all governmental
bodies, domestic or foreign, in respect of the conduct of the Borrower's and its
subsidiaries' respective businesses and the ownership of the Borrower's and its
subsidiaries' respective properties.

                     (f) Performance of Obligations. The Borrower will, and will
cause its subsidiaries to, perform all of its or their respective obligations
under the terms of each mortgage, indenture, security agreement, debt instrument
and other contract by which the Borrower or its subsidiaries, as the case may
be, is bound, except where the failure to perform would not, in the aggregate,
have a material adverse effect on the business, operations or financial
condition of the Borrower or its subsidiaries, as the case may be.

                     (g) Taxes. The Borrower will, and will cause its
subsidiaries to, pay when due all taxes which, if not paid when due, would
materially and adversely affect the business, operations, or financial condition
of the Borrower or any of its subsidiaries, as the case may be, except as
contested in good faith and by appropriate proceedings for which adequate
reserves have been established in accordance with generally accepted accounting
principles.

                     (h) Use of Proceeds. The Borrower shall use the proceeds of
this Note to consummate the transactions contemplated by the Purchase Agreement
and for general corporate purposes of the Borrower and its subsidiaries.

         4.2 Negative Covenants. The Borrower covenants and agrees (unless
Holdings agrees otherwise) that, until this Note, together with interest and all
other obligations incurred hereunder, are paid in full:

                     (a) Liens. The Borrower will not, and will cause its
subsidiaries not to, create, incur, assume or suffer to exist any Lien (as
defined below) upon or with respect to any property or assets (real or personal,
tangible or intangible) of the Borrower or any of its

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subsidiaries whether now owned or hereafter acquired, or sell any such property
or assets subject to an understanding or agreement, contingent or otherwise, to
repurchase such property or assets (including sales of accounts receivable with
recourse to the Borrower), or assign any right to receive income or permit the
filing of any financing statement under the UCC (as defined below) or any other
similar notice of Lien under any similar recording or notice statute, provided
that the provisions of this Section 4.2(a) shall not prevent the creation,
incurrence, assumption or existence of the following Liens (collectively, the
"Permitted Liens"):

                     (i) inchoate Liens for taxes not yet due and payable, or
Liens for taxes being contested in good faith and by appropriate proceedings for
which adequate reserves have been established in accordance with generally
accepted accounting principles;

                     (ii) Liens in respect of property or assets of the Borrower
or its subsidiaries, as the case may be, which do not in the aggregate
materially detract from the value of such property or assets or materially
impair the use thereof in the operation of the business of the Borrower or any
of its subsidiaries, as the case may be;

                     (iii) Liens in existence on the date hereof;

                     (iv) pledges or deposits in connection with worker's
compensation, unemployment insurance and other social security legislation;

                     (v) Liens on the collateral not otherwise permitted by the
provisions of this Section 4.2(a) to the extent securing Indebtedness permitted
by Section 4.2(c)(ii);

                     (vi) Liens in respect of judgments or awards with respect
to which the Borrower or any of its subsidiaries, as the case may be, shall in
good faith currently be diligently prosecuting an appeal or proceedings for
review with respect to which an appropriate bond or a stay of execution pending
such appeal or proceedings for review shall have been secured; and

                     (vii) Liens on real property existing at the time such real
property is acquired, provided that such Liens attach only on such real
property.

As used in this Note, the term "Lien" shall mean any mortgage, pledge,
hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or
other), preference, priority or other security agreement of any kind or nature
whatsoever (including, without limitation, any conditional sale or other title
retention agreement, any financing or similar statement or notice filed under
the UCC or any other similar recording or notice statute, and any lease having
substantially the same effect as any of the foregoing), and the term "UCC" shall
mean the Uniform Commercial Code, as from time to time in effect in the relevant
jurisdiction.

         (b) Dividends. The Borrower will not declare or pay any dividends, or
return any capital to its stockholders or authorize or make any other
distribution, payment or delivery of property or cash to its stockholders in
their capacity as such, or redeem, retire, purchase or otherwise acquire,
directly or indirectly, for consideration, any shares of any class of

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its capital stock now or hereafter outstanding (or any options or warrants
issued by the Borrower with respect to its capital stock), or set aside any
funds for any of the foregoing purposes; provided, however, that (i) the
Borrower may make such payments to repurchase capital stock (or warrants or
options) from an employee of the Borrower upon termination of such employee's
employment upon terms and conditions (including, without limitation, price)
acceptable to Holdings and (ii) the Borrower may make any payments required or
permitted by the Shareholders Agreement, dated as of the date hereof among the
Borrower and its shareholders.

                     (c) Indebtedness. The Borrower will not, and will cause its
subsidiaries not to, contract, create, incur, assume or suffer to exist any
Indebtedness (as defined below), except: (i) Indebtedness of the Borrower
incurred under this Note; (ii) Indebtedness (including any refinancing thereof)
to Holdings in an aggregate principal amount not to exceed $2,000,000, the
proceeds of which are to be used solely for working capital requirements; (iii)
accrued expenses and current trade accounts payable incurred in the ordinary
course of business; (iv) intercompany Indebtedness between the Borrower and its
subsidiaries; (v) Indebtedness of any of the Borrower's subsidiaries (not
covered under clauses (ii), (iii), (iv) and (vi) of this Section 4.2(c)), not to
exceed $2,000,000 at any time outstanding incurred in the ordinary course of
business, provided such Indebtedness is not secured in any manner by any type of
property (whether tangible or intangible, including, without limitation,
intellectual property) or assets of any Person; and (vi) Indebtedness with
respect to capital leases and other purchase money Indebtedness. As used in this
Note, the term "Indebtedness" shall mean, as to any Person, without duplication,
(i) all indebtedness (including principal, interest, fees and charges) of such
Person for borrowed money or for the deferred purchase price of property or
services, (ii) the face amount of all letters of credit issued for the account
of such Person and all letters of credit issued for the account of such Person
and all drafts drawn thereunder, (iii) all liabilities secured by any Lien on
any property owned by such Person, whether or not such liabilities have been
assumed by such Person, (iv) the aggregate amount required to be capitalized
under leases under which such Person is the lessee and (v) all contingent
obligations of such Person.

                     (d) Advances, Investments and Loans. The Borrower will not,
and will cause its subsidiaries not to, lend money or credit or make obligations
or securities of, or any other interest in, or make any capital contribution to,
any Person, except that (i) the Borrower and its subsidiaries may acquire and
hold receivables owing to it, if created or acquired in the ordinary course of
business and payable or dischargeable in accordance with customary trade terms
and (ii) the Borrower may make loans to employees of the Borrower in an
aggregate amount not to exceed $1,000,000.

                     (e) Transactions with Affiliates. The Borrower will not,
and will cause its subsidiaries not to, enter into any transaction or series of
related transactions, whether or not in the ordinary course of business, with
any Affiliate of the Borrower or any of its subsidiaries, as the case may be,
other than on terms and conditions substantially as favorable to the Borrower or
any of its subsidiaries, as the case may be, as would be obtainable by the
Borrower or any of its subsidiaries, as the case may be, at the time in a
comparable arm's-length transaction with a Person other than an Affiliate.
Notwithstanding the foregoing, the Borrower shall not, and shall cause its
subsidiaries not to, enter into any management agreement, services agreement or
any other similar agreement; provided, that, so long as there does not exist an
Event of Default, the Borrower and its subsidiaries may make payments to their
Affiliates pursuant to a management

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agreement, services agreement or other similar agreement in an aggregate amount
not to exceed $500,000 per calendar year. In addition, the Borrower may issue
stock or options pursuant to its 1999 Stock Option Plan. As used in this Note,
the term "Affiliate" means, with respect to any Person, any other Person that
directly or indirectly through one or more intermediaries, controls, is
controlled by, or is under common control with such Person. For the purpose of
the above definition, the term "control" (including, with correlative meaning,
the terms "controlling", "controlled by" and "under common control with"), as
used with respect to any Person, means the possession, directly or indirectly,
of the power to direct or cause the direction of the management and policies of
such Person, whether through the ownership of voting securities, by contract or
otherwise.

                     (f) Limitation on Voluntary Payments and Modifications of
Indebtedness; Modification of Certificate of Incorporation, By-Laws; Etc. The
Borrower will not, and will cause its subsidiaries not to, (i) make any
voluntary or optional payment or repayment on or redemption or acquisition for
value of (including, without limitation, by way of depositing with the trustee
with respect thereto money or securities before due for the purpose of paying
when due) any Indebtedness (other than Indebtedness under this Note) or (ii)
amend or modify, or permit the amendment or modification of, any provision of
any Indebtedness (other than Indebtedness under this Note and Indebtedness
permitted under Section 4.2(c) of this Note) or of any agreement, indenture,
loan agreement or security agreement) relating to any of the foregoing or (iii)
amend, modify or change the certificate of incorporation or by-laws of the
Borrower or any of its subsidiaries without the prior written consent of
Holdings, which consent shall not be unreasonably withheld.

        Section 5. Events of Default. Upon the occurrence of any of the
following specified events (each an "Event of Default"):

                     5.1 Payments. The Borrower shall (i) default in the payment
when due of any principal on this Note or (ii) default, and such default shall
continue unremedied for 5 or more days, in the payment when due of any interest
on this Note or other amounts owing hereunder; or

                     5.2 Representations, Etc. Any representation, warranty or
statement made by the Borrower or any of its subsidiaries in this Note, the
Purchase Agreement, or in any certificate delivered pursuant hereto or thereto
shall prove to be untrue in any material respect on the date as of which made or
deemed made; or

                     5.3 Covenants. The Borrower shall (i) default in the due
performance or observance by it of any term, convenant or agreement contained in
Section 4 of this Note or (ii) default in the due performance or observance by
it of any term, convenant or agreement (other than those referred to in Sections
5.1 and 5.2 and clause (i) of this Section 5.3) contained in this Note and such
default shall continue unremedied for a period of 30 days after written notice
to the Borrower by Holdings; or

                     5.4 Default Under Other Agreements. The Borrower or any of
its subsidiaries shall (i) default in any payment of any Indebtedness (other
than this Note) beyond the period of grace, if any, provided in the instrument
or agreement under which such Indebtedness was created or (ii) default in the
observance or performance of any agreement or condition relating to

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any Indebtedness (other than this Note) or contained in any instrument or
agreement evidencing, securing or relating thereto, the effect of which default
is to cause, or to permit the holder or holders of such Indebtedness (or a
trustee or agent on behalf of such holder or holders) to cause (determined
without regard to whether any notice is required), any such Indebtedness to
become due prior to its stated maturity; or any Indebtedness of the Borrower or
its subsidiaries shall be declared to be due and payable, or required to be
prepaid other than by a scheduled required prepayment, prior to the stated
maturity thereof; or

                     5.5 Bankruptcy, Etc. (i) The Borrower or any of its
subsidiaries shall commence a voluntary case concerning the Borrower or any of
its subsidiaries, as the case may be, under Title 11 of the United States Code
entitled "Bankruptcy," as now or hereafter in effect, or any successor thereto
(the "Bankruptcy Code"); (ii) or an involuntary case is commenced against the
Borrower or any of its subsidiaries, and the petition is not controverted within
10 days, or is not dismissed within 60 days, after commencement of the case;
(iii) or a custodian (as defined in the Bankruptcy Code) is appointed for, or
takes charge of, all or substantially all of the property of the Borrower or any
of its subsidiaries, or the Borrower or its subsidiaries commences any other
proceeding under any reorganization, arrangement, adjustment of debt, relief of
debtors, dissolution, insolvency or liquidation or similar law of any
jurisdiction whether now or hereafter in effect relating to the Borrower or any
of its subsidiaries, as the case may be, or there is commenced against the
Borrower or any of its subsidiaries any such proceeding which remains
undismissed for a period of 60 days, or the Borrower or any of its subsidiaries
is adjudicated insolvent or bankrupt; (iv) or any order of relief or other order
approving any such case or proceeding is entered; (v) or the Borrower or any of
its subsidiaries suffers any appointment of any custodian or the like for it or
any substantial part of its respective property to continue undischarged or
unstayed for a period of 60 days; (vi) or the Borrower or its subsidiaries makes
a general assignment for the benefit of creditors; (vii) or any action is taken
by the board of directors or stockholders of the Borrowers or any of its
subsidiaries for the purpose of effecting any of the foregoing; or

                     5.6 Judgments. One or more judgments or decrees shall be
entered against the Borrower or any of its subsidiaries involving in the
aggregate a liability (not paid by the Borrower or its subsidiaries, as the case
may be, and/or not fully covered by insurance and/or not covered by
indemnification under the Purchase Agreement) of $500,000 or more, and all such
judgments or decrees shall not have been vacated, discharged or stayed or bonded
pending appeal within 60 days after the entry thereof;

then, and in any such event, and at any time thereafter if any Event of Default
shall then be continuing, Holdings may take any or all of the following actions,
without prejudice to the rights of Holdings or the holder of the Note to enforce
its claims against the Borrower (provided, that, if an Event of Default
specified in Section 5.5 shall occur, the result which would occur upon the
giving of written notice by Holdings to the Borrower as specified below shall
occur automatically without the giving any such notice) (a) declare the
principal of and any accrued interest in respect of the Note and all other
obligations owing hereunder to be, whereupon the same shall become, forthwith
due and payable without presentment, demand, protest or other notice of any
kind, all of which are hereby waived by the Borrower; or (b) take any and all
other remedial action that may be available at law, in equity or otherwise.

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         Section 6. Optional Redemption. The Borrower may prepay this Note
(together with all accrued interest), in full or in part, at any time at a price
equal to the principal amount of the Note to be prepaid plus all accrued and
unpaid interest thereon.

         Section 7. Registrar. So long as this Note is outstanding, the Borrower
shall maintain an office or agency where this Note (i) may be presented for
registration or transfer or for exchange (the "Registrar") and (ii) may be
presented for payment. The Registrar shall keep a register of the Note and its
transfer and exchange.

         Section 8. Successors and Assigns. This Note shall bind and inure to
the benefit of the Borrower and Holdings and their respective successors and
assigns, provided, however, that the rights under this Note shall not be
assignable by the Borrower without the prior written consent of Holdings.
Holdings shall have the right to sell, assign, transfer or grant participations
in this Note (or any portion thereof) to any Person without the consent of any
Borrower and, upon effecting such a transaction, the Borrower agrees to amend
this Note to provide for the ability of Holdings and such other Persons to act
by a majority vote for the purpose of granting consents, amendments, or waivers
or taking any other action hereunder.

         Section 9. Amendment; Supplement. This Note, except for Section 8, may
be amended or supplemented and any past default or compliance with any provision
(including any Event of Default) may be waived only upon the written consent of
the holder.

         Section 10. Waiver. The Borrower hereby waives notice of acceptance
hereof as well as presentment, demand, protest and notice of non-payment and
protest as to this Note and any other document, instrument or agreement to which
the other may be a party in connection with this Note. The Borrower waives any
and all defenses based on suretyship, guaranty or any other applicable law,
including, without limitation, all rights and defenses arising out of (i) an
election of remedies by Holdings even though that election of remedies may have
destroyed rights of subrogation and reimbursement which Borrower may have, by
operation of law or otherwise, (ii) protections afforded to Borrower with
respect to antideficiency or similar laws limiting or discharging Borrower's
obligations to Holdings, (iii) the invalidity or unenforceability of Borrower's
obligations to Holdings, (iv) the failure to notify Borrower of the disposition
of collateral security granted by Borrower, (v) the commercial reasonableness of
any disposition or the impairment, however caused, of the value of collateral
security granted by the Borrower, and (vi) any duty on Holding's part (should
such duty exist) to disclose to Borrower any matter, fact or thing related to
the business operations or condition (financial or otherwise) of the other or
its Affiliates or property, whether now or hereafter known by Holdings. Holdings
may at any time, in accordance with the terms of this Note, without consent of
the Borrower, without notice to the Borrower and without affecting or impairing
the obligations of the Borrower hereunder and any other documents, instrument,
or agreement to which the Borrower may be a party in connection with this Note,
do any of the following: (i) renew, extend (including extensions beyond the
original term of the contract), modify (including changes in interest rates),
release or discharge the Borrower or any other persons obligated with respect to
the obligations hereunder; (ii) accept partial payments of the obligations
hereunder from the Borrower; (iii) accept substituted, new or additional
documents, instruments or agreements relating to the obligations hereunder from
the Borrower; (iv) settle, release (by operation of law or otherwise), compound,
compromise, collect or liquidate any of the obligations hereunder and collateral
security of the Borrower in any

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manner; (v) consent to the transfer or return of collateral security and take
and hold additional collateral security or guaranties for the obligations
hereunder; (vi) amend, exchange, release or waive any collateral security or
guaranty granted by the Borrower; or (vii) bid and purchase at any sale of the
obligations hereunder collateral security of the Borrower and apply any proceeds
and collateral security granted by the Borrower and direct the order and manner
of such sale.

         Section 11. Remedies on Default, Etc. In case an Event of Default shall
occur and be continuing, Holdings may, inter alia, proceed to protect and
enforce its rights by an action at law, suit in equity or other appropriate
proceeding, whether for the specific performance of any agreement contained in
this Note or for an injunction against a violation of any of the terms hereof or
thereof or in the exercise of any power granted hereby or thereby or by law. No
right conferred upon Holdings by this Note shall be exclusive of any other right
referred to herein or now or hereafter available at law, in equity, by statute
or otherwise.

         Section 12. Indemnification. In addition to all rights and remedies
available to Holdings at law or in equity, the Borrower shall indemnify Holdings
and each subsequent holder of this Note, and their respective Affiliates,
stockholders, officers, directors, employees, agents, representatives,
successors and permitted assigns (collectively, the "Indemnified Persons") and
save and hold each of them harmless against and pay on behalf of or reimburse
such party as and when incurred for any loss (excluding consequential damages),
liability, demand, claim, action, cause of action, cost, damage, deficiency,
tax, penalty, fine or expense, whether or not arising out of any claims by or on
behalf of the Borrower or any third party, including interest, penalties,
reasonable attorneys' fees and expenses and all amounts paid in investigation,
defense or settlement of any of the foregoing (collectively, "Losses") which any
such party may suffer, sustain or become subject to, as a result of, in
connection with, relating or incidental to or by virtue of:

                     (a) any misrepresentation or breach of warranty on the part
of the Borrower under this Note;

                     (b) without duplication of subsection (a) above, any
misrepresentation in or omission from any of the representations, warranties,
statements, schedules and exhibits hereto, certificates or other instruments or
documents furnished to Holdings by the Borrower made in or pursuant to this
Note;

                     (c) any Event of Default or nonfulfillment or breach of any
covenant or agreement on the part of the Borrower under this Note;

                     (d) any action, demand, proceeding, investigation or claim
by any third party (including, without limitation, governmental agencies); or

                     (e) any claim (whenever made) relating in any way to the
Borrower and any claim (whenever made) arising out of, relating to, resulting
from or caused by any transaction, status, event, condition, occurrence or
situation relating to, arising out of or in connection with (1) the status or
conduct of the Borrower, or (2) any actions taken by or omitted to be taken by
any of the Indemnified Persons in connection with this Note or any of the
agreements contemplated herein.

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         The Borrower agrees, whether or not the transactions herein
contemplated are consummated, to pay all out-of-pocket costs and expenses of
Holdings in connection with the negotiation, preparation, execution and delivery
of the this Note and the documents and instruments referred to herein and any
amendment, waiver or consent relating thereto and in connection with the
enforcement thereof.

         Section 13. Survival. All indemnification rights hereunder shall
survive the execution and delivery of this Note and the consummation of the
transactions contemplated hereby indefinitely, regardless of any investigation,
inquiry or examination made for or on behalf of, or any knowledge of Holdings
and/or any of the Indemnified Persons or the acceptance by Holdings of any
certificate or opinion.

         Section 14. Notices. All notices, requests, consents and other
communications hereunder to any party shall be deemed to be sufficient if
contained in a written instrument delivered in person or sent by telecopy,
nationally-recognized overnight courier or first class registered or certified
mail, return receipt requested, postage prepaid, addressed to such party at the
address set forth below or such other address as may hereafter be designated in
writing by such party to the other parties:

                      if to the Borrower, to:

                              Greenfield Online, Inc.
                              274 Riverside Avenue
                              Westport, CT 06880-4807
                              Attention: Chief Executive Officer
                              Telephone: (203) 221-0411
                              Facsimile: (203) 221-0791;

                      with a copy to:

                              Preston Gates & Ellis LLP
                              701 Fifth Avenue
                              Suite 5000
                              Seattle, Washington 98104
                              Attention: Robert Jaffe, Esq.
                              Telephone: (206) 623-7580
                              Facsimile: (206) 623-7022;

                      if to Holdings, to:

                              Greenfield Holdings, LLC
                              c/o Insight Capital Partners III, L.P.
                              122 East 42nd Street, Suite 2400
                              New York, New York  10168
                              Attention:  Jeffrey Horing
                              Telephone:  (212) 681-8181
                              Facsimile:   (212) 661-0972;

                                       10

<PAGE>

                      with a copy to:

                              O'Sullivan Graev & Karabell, LLP
                              30 Rockefeller Plaza, 41st Floor
                              New York, New York 10112
                              Attention:  Ilan S. Nissan, Esq.
                              Telephone: (212) 408-2400
                              Facsimile: (212) 408-2420;

or to such other address as t he party to whom notice is to be given may have
furnished to the other party in writing in accordance herewith. If mailed, as
aforesaid, any such communication shall be deemed to have been given on the
third Business Day following the day on which the piece of mail containing such
communication is posted.

        Section 15. GOVERNING LAW. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO
PRINCIPLES OF CONFLICTS OF LAW.

                                     * * * *

                                       11

<PAGE>

         IN WITNESS WHEREOF, the Borrower has caused this Note to be dated and
to be executed, delivered and issued on its behalf by its duly authorized
officers.

                                            GREENFIELD ONLINE, INC.

                                            By: /s/  Rudy Nadilo
                                               --------------------------
                                                Rudy Nadilo
                                                President<PAGE>

                       NOTE AND WARRANT PURCHASE AGREEMENT

                                      AMONG

                             GREENFIELD ONLINE, INC.

                                       AND

                            GREENFIELD HOLDINGS, LLC

                            Dated as of March 3, 2000

<PAGE>

                                TABLE OF CONTENTS
                                -----------------

                                                                     Page
                                                                     ----

Section 1.  Issuance of the Notes and the Warrants.....................1

Section 2.  Reservation of Class A Common Shares.......................1

Section 3.  Sale and Purchase of Notes and Warrants....................1

Section 4.  The Closings; The Initial Closing..........................2

Section 5.  Representations and Warranties of the Corporation..........2

Section 6.  Investment Representations of the Purchaser................5

Section 7.  Certain Definitions........................................5

Section 8.  Stockholders' Agreement....................................6

Section 9.  Parties in Interest........................................6

Section 10. Entire Agreement...........................................6

Section 11. Notices....................................................6

Section 12. Amendments.................................................7

Section 13. Counterparts...............................................8

Section 14. Headings...................................................8

Section 15. Governing Law..............................................8

Section 16. Expenses...................................................8

                                        i

<PAGE>

                                             NOTE AND WARRANT PURCHASE
                                    AGREEMENT, dated as of March 3, 2000, among
                                    GREENFIELD ONLINE, INC., a Delaware
                                    corporation (the "Corporation"), and
                                    GREENFIELD HOLDINGS, LLC, a Delaware limited
                                    liability company (the "Purchaser").

      WHEREAS, the Corporation desires to sell to the Purchaser and the
Purchaser desires to purchase from the Corporation (i) up to an aggregate of
$5,000,000 in principal amount of the Corporation's 10% subordinated promissory
notes and (ii) warrants to purchase shares of the Corporation's Class A Common
Stock, $0.01 par value per share (the "Class A Common Shares"), on the terms and
subject to the conditions set forth in this Agreement.

      NOW, THEREFORE, the parties hereto hereby agree as follows:

      Section 1.  Issuance of the Notes and the Warrants.

      Upon the terms and subject to the conditions contained in this Agreement,
the Corporation has authorized the issuance to the Purchaser of, and the
Purchaser has committed to purchase from the Corporation, (a) up to $5,000,000
(the "Total Commitment") in aggregate principal amount of its 10% subordinated
promissory notes (the "10% Notes") due on the date (the "Maturity Date") which
is the earlier to occur of (i) any Fundamental Change, Change of Control or
Liquidity Event and (ii) June 30, 2000, each such 10% Note to be substantially
in the form of Exhibit A attached hereto, and (b) warrants (the "Warrants") to
purchase up to 69,930 Class A Common Shares (the "Warrant Shares"), each such
Warrant to be substantially in the form of Exhibit B attached hereto.

      Section 2.  Reservation of Class A Common Shares.

      Upon the terms and subject to the conditions contained in this Agreement,
the Corporation shall reserve up to 69,930 Class A Common Shares for issuance
upon exercise of the Warrants.

      Section 3.  Sale and Purchase of Notes and Warrants.

      At each Closing (as defined herein), the Corporation shall sell to the
Purchaser, and the Purchaser shall purchase from the Corporation, upon the terms
and subject to the conditions set forth herein 10% Notes in the aggregate
principal amount to be funded at such Closing as requested by the Corporation in
a written request for funding pursuant to Section 4(a). At the Initial Closing
(as defined herein), the Corporation shall sell to the Purchaser, and the
Purchaser shall purchase from the Corporation, a Warrant to purchase that number
of Warrant Shares as may be determined by dividing $500,000 by the Exercise
Price. Anything contained in the Financing Documents to the contrary
notwithstanding, in no event shall the Purchaser be obligated to purchase an
aggregate principal amount of 10% Notes in excess of the Total Commitment. The
Corporation and the Purchaser agree that 99.5% of the aggregate purchase price
to be paid by the Purchaser for the 10% Notes and the Warrants shall be
allocated to the

<PAGE>

sale and purchase of the 10% Notes. No party hereto shall take a position
inconsistent with this allocation unless otherwise required by law.

      Section 4. The Closings; The Initial Closing.

         (a) The sale of the 10% Notes and the Warrants to be purchased
hereunder shall take place at the offices of Wake, See, Dimes & Bryniczka, 27
Imperial Avenue, Westport, Connecticut 06880, at a closing occurring
simultaneously with the execution and delivery hereof (the "Initial Closing")
and on not more than one other date subsequent to the date hereof as may be
agreed upon by the Corporation and the Purchaser, but in any event not less than
10 business days following receipt by the Purchaser from the Corporation of a
written request for funding pursuant hereto (the "Second Closing", together with
the Initial Closing, are collectively referred to as the "Closings" and each a
"Closing"). At each Closing, the Purchaser shall purchase and the Corporation
shall sell an aggregate principal amount of 10% Notes equal to $2,500,000 of the
Total Commitment.

         (b) At the Initial Closing, the Corporation shall deliver to the
Purchaser: (i) a 10% Note registered in the name of the Purchaser in the
aggregate principal amount equal to $2,500,000, (ii) a warrant certificate
representing the Warrant to be purchased by the Purchaser pursuant to Section 3,
(iii) an opinion of Wake, See, Dimes & Bryniczka, counsel to the Corporation,
dated as of the Initial Closing date with respect to the matters set forth in
Exhibit C and in form and substance satisfactory to the Purchaser and (iv) a
certificate signed by the chief financial officer or treasurer of the
Corporation to the effect that, both before and immediately after the
consummation of the Initial Closing and the other transactions contemplated to
take place on the Initial Closing date, (a) no Event of Default shall have
occurred and be continuing under the 10% Notes, and (b) the representations and
warranties of the Corporation made in or pursuant to the Financing Documents are
true in all respects (or in all material respects in the case of any such
representation or warranty that is not by its terms already qualified as to
materiality).

         (c) In the event of a Second Closing, the Corporation shall deliver to
the Purchaser: (i) a 10% Note registered in the name of the Purchaser in the
aggregate principal amount equal to $2,500,000, (ii) an opinion of Wake, See,
Dimes & Bryniczka, counsel to the Corporation, dated as of the Second Closing
date with respect to the matters set forth in Exhibit C and in form and
substance satisfactory to the Purchaser and (iii) a certificate signed by the
chief financial officer or treasurer of the Corporation to the effect that, both
before and immediately after the consummation of the Second Closing and the
other transactions contemplated to take place on the Second Closing date, (a) no
Event of Default shall have occurred and be continuing under the 10% Notes, and
(b) the representations and warranties of the Corporation made in or pursuant to
the Financing Documents are true in all respects (or in all material respects in
the case of any such representation or warranty that is not by its terms already
qualified as to materiality).

         (d) It being understood that this Agreement does not constitute a
revolving loan commitment, any amounts repaid or prepaid on 10% Notes purchased
hereunder may not be reborrowed.

                                       2
<PAGE>

      Section 5. Representations and Warranties of the Corporation.

      The Corporation hereby represents and warrants to the Purchaser as
follows:

      5.1. Organization.

      Each of the Corporation and its subsidiaries is duly organized, validly
existing and in good standing under the laws of the jurisdiction of its
incorporation or formation, as listed on Schedule 5.1, and has all requisite
corporate or other power and authority to own, lease and operate its properties
and other assets and to carry on its business as presently conducted and as a
foreign Person in those jurisdictions listed on Schedule 5.1, which constitute
all the jurisdictions in which the character of the property owned or leased by
the Corporation or such subsidiary or the nature of the activities conducted by
the Corporation or such subsidiary makes such qualification necessary. Attached
hereto as Exhibit D is a correct and complete copy of the Certificate of
Incorporation of the Corporation (the "Charter") and attached hereto as Exhibit
E is a correct and complete copy of the By-Laws of the Corporation (the
"By-Laws"), in each case as currently in effect.

      5.2. Capitalization.

         (a) The authorized capital stock of the Corporation as of the date of
the Initial Closing shall consist of:

              (i) 4,000,000 duly authorized shares of Class A Common Stock, of
     which:

                   (A) 1,900,750 shares of Class A Common Stock shall be validly
         issued and outstanding, fully paid and nonassessable, with no personal
         liability attaching to the ownership thereof; and

                   (B) 2,210,179 shares of Class A Common Stock shall be duly
         reserved for issuance upon the exercise of the Warrants and outstanding
         options and other warrants listed on Schedule 5.2 (whether or not
         presently exercisable);

              (ii) 15,000,000 duly authorized shares of Class B Common Stock, of
     which 10,927,575 shares shall have been validly issued and outstanding,
     fully paid and nonassessable, with no personal liability attaching to the
     ownership thereof.

All of such outstanding shares in each case are owned of record and beneficially
by the Persons identified on Schedule I attached hereto, without Encumbrance, in
the amounts set forth thereon.

         (b) Schedule 5.2 hereto contains a list, as of the date hereof and
assuming the consummation at each Closing of all the transactions contemplated
by the Financing Documents (as defined in Section 5.3), of all outstanding
warrants, options, agreements, convertible securities or other commitments
pursuant to which the Corporation or any stockholder thereof is or may become
obligated to issue, sell or otherwise transfer any capital stock or other
securities of the Corporation, which list (i) names all parties entitled to
receive such shares of capital stock or other securities, (ii) indicates whether
or not such shares of capital stock or other securities are entitled to any
anti-dilution or similar adjustments upon the issuance of additional securities
of

                                       3
<PAGE>

the Corporation or otherwise and (iii) sets forth the capital stock or other
securities required to be issued thereunder. Except as contemplated hereby,
there are, and immediately upon consummation at each Closing of the transactions
contemplated hereby, there will be, no preemptive or similar rights to purchase
or otherwise acquire the capital stock of the Corporation pursuant to any
provision of law, the Charter, the By-Laws or any agreement to which the
Corporation or any shareholder thereof is a party other than as set forth in the
Stockholders' Agreement dated as of May 17, 1999 by and among the parties
thereto (the "Stockholders' Agreement"). Except as set forth on Schedule 5.2,
there is, and immediately upon the consummation at each Closing of the
transactions contemplated hereby, there will be, no agreement, restriction or
encumbrance (such as a right of first refusal, right of first offer, proxy,
voting trust, voting agreement, etc.) with respect to the sale or voting of any
capital stock of the Corporation (whether outstanding or issuable upon
conversion or exercise of outstanding securities) other than as set forth in the
Stockholders' Agreement.

         (c) All of the outstanding shares of capital stock of the Corporation
have been issued in accordance with applicable foreign, state and federal laws
and regulations governing the sale and purchase of securities.

5.3.  Authorization of Agreement, Etc.

      The execution, delivery and performance by the Corporation of this
Agreement, the 10% Notes, the Warrants and each other document or instrument
contemplated hereby (collectively, the "Financing Documents") have been duly
authorized by all requisite action (corporate or otherwise) by the Corporation;
and this Agreement and each other Financing Document has been duly executed and
delivered by the Corporation. Each of the Financing Documents is or, in the case
of the 10% Notes and the Warrants, will be, the valid and binding obligation of
the Corporation, enforceable against the Corporation in accordance with its
terms.

5.4.  No Conflicts.

      The execution, delivery and performance by the Corporation of this
Agreement or the other Financing Documents, the issuance, sale and delivery of
the 10% Notes and the Warrants (and the issuance of any Class A Common Shares
issuable upon the exercise of the Warrants), and compliance with the provisions
hereof by the Corporation, will not (a) violate any provision of law, statute,
rule or regulation (whether foreign or domestic) applicable to the Corporation
or any ruling, writ, injunction, order, judgment or decree of any court,
arbitrator, administrative agency or other governmental body (whether foreign or
domestic) applicable to the Corporation or any of its properties or assets or
(b) conflict with or result in any breach of any of the terms, conditions or
provisions of, or constitute (with notice or lapse of time or both) a default
(or give rise to any right of termination, cancellation or acceleration) under,
or result in the creation of, any Encumbrance upon any of the properties or
assets of the Corporation under, the Charter or By-Laws of the Corporation or
any material contract to which it is a party.

5.5.  Approvals.

      Except for (a) the filing of any notice subsequent to any Closing which
may be required under applicable foreign, federal or state securities law
(which, if required, will be filed on a

                                       4
<PAGE>

timely basis as may be so required) and (b) obtaining the approval of existing
holders of the Corporation's outstanding capital stock, no permit,
authorization, consent or approval of or by, or any notification of or filing
with, any person (governmental or private) is required in connection with the
execution, delivery or performance of the Financing Documents by the
Corporation.

      5.6. Authorization of the Class A Common Shares, Etc.

      The issuance, sale and delivery by the Corporation of the 10% Notes, the
Warrants and the Warrant Shares have been duly authorized by all requisite
corporate action of the Corporation, and, when issued as contemplated by the
Warrants, the Warrant Shares will be validly issued and outstanding, fully paid
and nonassessable and not subject to preemptive or any other similar rights of
the stockholders of the Corporation or others.

      5.7. Brokers and Finders.

      The Corporation has not employed any broker or finder in connection with
the transactions contemplated by this Agreement.

      Section 6. Investment Representations of the Purchaser.

      The Purchaser hereby represents and warrants to the Corporation as
follows:

           (a) The Purchaser is acquiring the Notes and Warrants to be purchased
by the Purchaser hereunder and, in the event that the Purchaser should acquire
any Class A Common Shares, will be acquiring such Class A Common Shares, for its
own account, for investment and not with a view to the distribution thereof in
violation of the Securities Act or applicable foreign or state securities laws.

           (b) The Purchaser understands that (i) the 10% Notes and the Warrants
have not been, and that the Class A Common Shares will not be, registered under
the Securities Act or applicable foreign or state securities laws, by reason of
their issuance by the Corporation in a transaction exempt from the registration
requirements of the Securities Act and applicable foreign and state securities
laws and (ii) the Notes and Warrants and the Class A Common Shares must be held
by the Purchaser indefinitely unless a subsequent disposition thereof is
registered under the Securities Act and applicable foreign and state securities
Laws or is exempt from registration thereof. The Purchaser is an "accredited
investor" (as defined in Rule 501(a) of Regulation D promulgated under the
Securities Act).

           (c) The Purchaser has not employed any broker or finder in connection
with the transactions contemplated by this Agreement.

      Section 7. Certain Definitions.

      "Bankruptcy Code" shall mean the United States Bankruptcy Code, 11
U.S.C.ss.101 et seq., as amended from time to time.

      "Change of Control" shall be deemed to have occurred at such time as a
"person" or "group" (within the meaning of Section 13(d) and 14(d)(2) of the
Securities Exchange Act of

                                       5
<PAGE>

1934) becomes the "beneficial owner" (as defined in Rule 13d-3 under the
Securities Exchange Act of 1934), directly or indirectly, of more than 20% of
the total voting power of all classes of stock then outstanding of the
Corporation normally entitled to vote in the election of directors.

      "Encumbrance" shall mean any liens, charges, encumbrances, equities,
claims, options, proxies, pledges, security interests, or other similar rights
of any nature.

      "Exercise Price" shall mean $7.15, as adjusted pursuant to the Warrants.

      "Fundamental Change" shall mean any acquisition, merger, consolidation,
reorganization, or recapitalization, or reclassification of the Corporation's
capital stock, or liquidation, winding up, or dissolution of the Corporation, or
conveyance, sale, assignment, lease, transfer, or other disposition of, in one
transaction or a series of transactions, all or any substantial part of the
Corporation's business, property, or assets, or the acquisition by purchase or
otherwise of all or substantially all of the properties, assets, stock, or other
evidence of beneficial ownership of the Corporation; provided, however, that any
conversion of existing securities by the holders of Class B Common Stock,
including mandatory conversion pursuant to the terms of the Charter pursuant to
an offering by the Corporation of its securities to the general public pursuant
to a registration statement filed under the Securities Act, shall not be deemed
to be a Fundamental Change.

      "Liquidity Event" shall mean any transaction (or series of related
transactions) in which the Corporation receives more than $10,000,000 in gross
proceeds from the sale of its capital stock or other securities that are
directly or indirectly convertible or exchangeable into or exercisable for
shares of the Corporation's capital stock.

      Section 8. Stockholders' Agreement.

      The Warrants and the Warrant Shares shall be subject to the provisions of
the Stockholders' Agreement, including, but not limited to, the registration
rights set forth therein, as if the same were Investor Shares.

      Section 9. Parties in Interest.

      This Agreement shall bind and inure to the benefit of the Corporation, the
Purchasers and their respective successors and assigns.

      Section 10. Entire Agreement.

      This Agreement and the other writings and agreements referred to herein or
delivered pursuant hereto contain the entire understanding of the parties with
respect to the subject matter hereof and supersede all prior agreements and
understandings among the parties with respect thereto.

      Section 11. Notices.

      All notices, demands and requests of any kind to be delivered to any party
in connection with this Agreement shall be in writing and shall be deemed to
have been duly given if

                                       6
<PAGE>

personally delivered or if sent by nationally-recognized overnight courier or by
registered or certified mail, return receipt requested and postage prepaid,
addressed as follows:

      (a) if to the Corporation, to:

                        Greenfield Online, Inc.
                        15 River Road
                        Wilton, Connecticut  06897
                        Tel:  (203) 846-5700
                        Fax:  (203) 834-2283
                        Attention: Jonathan Flatow, Esq.;

                        with a copy to:

                        Wake, See, Dimes & Bryniczka
                        27 Imperial Avenue
                        Westport, CT  06880
                        Tel:  (203) 227-9545
                        Fax:  (203) 226-1641
                        Attention:  Jacob P. Bryniczka, Esq.

      (b) if to the Purchaser, to:

                        Greenfield Holdings, LLC
                        c/o InSight Capital Partners
                        527 Madison Avenue
                        10th Floor
                        New York, New York  10022
                        Attention:  Jeffrey Horing
                        Tel:  (212) 230-9200
                        Fax:  (212) 230-9222

      (c) with a copy to:

                        O'Sullivan Graev & Karabell, LLP
                        30 Rockefeller Plaza
                        New York, New York  10112
                        Tel:  (212) 408-2400
                        Fax:  (212) 408-2420
                        Attention:  Ilan S. Nissan, Esq.;

or to such other address as the party to whom notice is to be given may have
furnished to the other parties hereto in writing in accordance with the
provisions of this Section 11. Any such notice or communication shall be deemed
to have been received (i) in the case of personal delivery, on the date of such
delivery, (ii) in the case of nationally-recognized overnight courier, on the
next business day after the date when sent and (iii) in the case of mailing, on
the third business day following that on which the piece of mail containing such
communication is posted.

                                       7
<PAGE>

      Section 12. Amendments.

      This Agreement may not be modified or amended, or any of the provisions
hereof waived, except by written agreement of the Corporation and the Purchaser.

      Section 13. Counterparts.

      This Agreement may be executed in any number of counterparts, and each
such counterpart hereof shall be deemed to be an original instrument, but all
such counterparts together shall constitute but one agreement.

      Section 14. Headings.

      The section and paragraph headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement.

      Section 15. Governing Law.

      This Agreement shall be governed by and construed in accordance with the
laws of the State of New York (without giving effect to principles of conflicts
of laws).

      Section 16. Expenses.

      The Corporation agrees to pay, and hold the Purchaser and all holders of
10% Notes and Warrants or Warrant Shares harmless against liability for the
payment of: (i) the reasonable out-of-pocket expenses (including attorneys' fees
and expenses) of the Purchaser arising in connection with its due diligence and
the negotiation and execution of the Financing Documents and the consummation of
the transactions contemplated by the Financing Documents which shall be payable
at each Closing and with respect to any amendments or waivers (whether or not
the same become effective) under or in respect of the Financing Documents, or
the other agreements contemplated thereby, including the Charter, (ii) stamp and
other taxes which may be payable in respect of the execution and delivery of the
Financing Documents or the issuance, delivery or acquisition of the 10% Notes,
the Warrants or any Warrant Shares and (iii) the reasonable fees and expenses
incurred with respect to the enforcement of the rights granted under the
Financing Documents, the agreements contemplated thereby and the Charter.

                                  * * * * *

                                       8
<PAGE>

      IN WITNESS WHEREOF, each of the undersigned has duly executed this Note
and Warrant Purchase Agreement as of the date first written above.

                                    GREENFIELD ONLINE, INC.

                                       By: /s/
                                          ---------------------
                                       Name:  Rudy Nadilo
                                       Title:  President + CEO

                                    GREENFIELD HOLDINGS, LLC

                                       By: /s/
                                          ---------------------
                                       Name:  Jeffrey Horing
                                       Title:  President

                                       9
<PAGE>

                                                                       EXHIBIT A
                                                                       ---------

                                Form of 10% Note
                                ----------------

                                  See attached.

                                       10
<PAGE>

                                                                       EXHIBIT B
                                                                       ---------

                                 Form of Warrant
                                 ---------------

                                  See attached.

                                       11
<PAGE>

                                                                       EXHIBIT C
                                                                       ---------

                                 Form of Opinion

                                  See attached.

                                       12
<PAGE>

                                                                       EXHIBIT C
                                                                       ---------

                                          March 3, 2000
Greenfield Holdings, LLC
C/o InSight Capital Partners
122 East 42nd Street, Suite 2300
New York, NY  10168

Ladies and Gentlemen:

      We have acted as counsel to Greenfield Online, Inc. (the "Company") in
connection with the execution and delivery of the Note and Warrant Purchase
Agreement (the "Purchase Agreement") by and among Greenfield Holdings, LLC (the
"Purchaser") and the Company, and the other agreements and instruments listed on
Schedule A attached hereto (together with the Purchase Agreement, the
"Documents"), dated as of the date hereof. This Opinion is being delivered
pursuant to Section 4(b) of the Purchase Agreement. Capitalized terms used but
not defined herein shall have the respective meanings given to such terms in the
Purchase Agreement.

      Based upon and subject to the foregoing, we are of the opinion that:

      1. The Company is a corporation duly organized, validly existing and in
      good standing under, and by virtue of, the laws of the State of Delaware.
      The Company has requisite corporate power and authority to execute and
      deliver the Purchase Agreement and the Documents, to own and operate its
      properties and assets, and to carry on its business as presently
      conducted. The Company is either presently qualified or has submitted
      applications to be qualified to do business as a foreign corporation in
      the States of Washington, California, Missouri, New Jersey, Illinois and
      Connecticut.

      2. The Company has all requisite legal and corporate power to carry out
      and perform its obligations under the terms of the Purchase Agreement and
      the Documents.

      3. As of March 2, 2000, the authorized capital stock of the Company
      consists of 4,000,000 duly authorized shares of Class A Common Stock of
      which 1,900,750 shares of Class A Common Stock are validly issued and
      outstanding, fully paid and nonassessable, with no personal liability
      attaching to the ownership thereof and 2,210,179 shares of Class A Common
      Stock are duly reserved for issuance upon the exercise of the Warrants and
      outstanding options and other warrants (whether or not presently
      exercisable); and 15,000,000 duly authorized shares of Class B Common
      Stock, of which 10,927,575 shares shall have been validly issued and
      outstanding, fully paid and nonassessable, with no personal liability
      attaching to the ownership thereof. There are a sufficient number of
      shares of authorized but unissued Class A Common Stock to effect the
      exercise of the Warrants.

      The Class A Common Stock issuable upon exercise of the Warrants shall be
      duly and validly reserved, and when issued in accordance with the
      Company's Certificate of Incorporation will be validly issued, fully paid
      and non-assessable, and free of any liens or encumbrances. Except for such
      rights previously granted to the Purchasers, no holders of the Company's
      securities have registration rights and there are no other options, other
      than those granted to employees, warrants, conversion privileges, or other
      rights presently outstanding to purchase or otherwise acquire any
      authorized but unissued shares of capital stock or other securities of the
      Company, or any agreements to issue such securities or rights.

                                       13
<PAGE>

      4. The execution, delivery and performance of and compliance with the
      Purchase Agreement and the Documents by the Company will not violate or
      constitute a default under the Certificate of Incorporation or Bylaws of
      the Company.

      5. All corporate action on the part of the Company, its directors and
      stockholders necessary for the authorization, execution and delivery of
      the Purchase Agreement and the Documents by the Company, the performance
      of the Company's obligations under the Purchase Agreement and the
      Documents has been taken. The Purchase Agreement and the Documents have
      been duly and validly executed and delivered by the Company and constitute
      valid and binding obligations of the Company, enforceable against the
      Company in accordance with their terms.

      6. There are no actions, suits, proceedings or investigations pending
      against the Company, any of its officers, directors, employees or its
      properties, before any court or governmental agency (nor has the Company
      received any actual threat thereof) except as provided in Schedule A,
      attached hereto.

      7. No consent, approval or authorization of or designation, declaration or
      filing with any governmental authority on the part of the Company is
      required in connection with the valid execution and delivery of the
      Purchase Agreement and the Documents, or the consummation of any other
      transaction contemplated by the Purchase Agreement and the Documents.

      This opinion is for the Purchaser alone and may not be disclosed, quoted
or relied upon by any other person or entity without our prior written
permission. No opinion is implied, or may be inferred, beyond the opinions
expressly stated herein.

      We do not purport to be experts in the laws of any jurisdiction other than
the laws of the State of Connecticut, Delaware General Corporation Law (the
"DGCL") and United States federal law insofar as such laws apply, and we express
no opinion as to conflicts of law, rules or the laws of any states or
jurisdictions other than Connecticut, the DGCL, United States federal law, to
the extent those laws are relevant to the transactions contemplated by the
Documents. To the extent that matters expressed in our opinion below are
governed by laws other than the laws of the State of Connecticut, the DGCL or
the federal laws of the United States, we have assumed, with your permission and
without independent investigation, for the purposes of such opinions that such
laws are identical in all respects to the laws of Connecticut and we express no
opinion as to whether such assumption is reasonable or correct. We note in
particular that the Documents purport to be governed by the laws of the State of
New York.

                                    Very truly yours,
                                    Wake, See, Dimes & Bryniczka

                                    By_________________________
                                         Jacob P. Bryniczka,
                                         Its Partner

                                       14
<PAGE>

                                                                       EXHIBIT D
                                                                       ---------

                                     Charter
                                     -------

                                  See attached

                                       15
<PAGE>

                                                                       EXHIBIT E
                                                                       ---------

                                     By-Laws
                                     -------

                                  See attached.

                                       16

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