Document:

<PAGE>   1
                                                                    Exhibit 10.7

                                  MARCH 7, 2001

                           THE FINANCIAL TIMES LIMITED

                          DATA BROADCASTING CORPORATION

================================================================================

                               TRADE MARK LICENSE

================================================================================

<PAGE>   2

                                    CONTENTS

<TABLE>
<CAPTION>
CLAUSE                                                                                                          PAGE

<S>                                                                                                              <C>
1.      DEFINITIONS...............................................................................................1

2.      GRANT OF LICENCE..........................................................................................2

3.      DEFENSE OF THIRD PARTY CLAIMS.............................................................................3

4.      ACKNOWLEDGMENT............................................................................................3

5.      SUBLICENSING..............................................................................................3

6.      CONDITIONS OF USE.........................................................................................4

7.      APPROVALS.................................................................................................5

8.      ACKNOWLEDGEMENT/REGISTRATION OF THE MARKS.................................................................5

9.      INFRINGEMENTS.............................................................................................6

10.     TERM AND TERMINATION......................................................................................7

11.     EFFECTS OF TERMINATION....................................................................................7

12.     SUCCESSORS IN TITLE/ASSIGNMENT/SUB-LICENSING..............................................................8

13.     NOTICES...................................................................................................8

14.     ENTIRE AGREEMENT..........................................................................................9

15.     PRECEDENCE OF AGREEMENTS..................................................................................9

16.     LEGAL RELATIONSHIP........................................................................................9

17.     VARIATION.................................................................................................9

18.     WAIVER....................................................................................................9

19.     COUNTERPARTS.............................................................................................10

20.     SEVERANCE................................................................................................10

21.     FURTHER ASSURANCE........................................................................................10

22.     LAW AND JURISDICTION.....................................................................................10
</TABLE>

<PAGE>   3

TRADE MARK LICENSE AGREEMENT made on March 7, 2001.

BETWEEN

(1)  THE FINANCIAL TIMES LIMITED, a company incorporated under the laws of
England and Wales, whose registered office is at Number One, Southwark Bridge,
London SE1 9HL (THE LICENSOR)

(2)  DATA BROADCASTING CORPORATION, a company incorporated under the laws of the
State of Delaware, whose registered office is at 22 Crosby Drive, Bedford,
Massachusetts 01730 (THE LICENSEE).

WHEREAS

(A)  The Licensor is the owner of the "FINANCIAL TIMES", "FT" and "FT & Devices"
trade marks examples of which are set out in the Schedule hereto.

(The Licensee desires to change its name to "Interactive Data Corporation" and
certain of its Subsidiaries are planning to change their respective names to "FT
Interactive Data Corporation" (and/or local variations thereof(such as `FT
Interactive Data (Europe) Limited), so the Licensor and Licensee desire to enter
into this Licence and the Licensor is willing to grant to the Licensee a licence
(LICENCE) to use the "Financial Times" "FT" and "FT and device" trade marks in
accordance with the terms, and subject to the conditions of this Agreement.

IT IS AGREED AS FOLLOWS

1.   DEFINITIONS

In this Agreement the following terms shall have the respective meanings set
forth below:

BUSINESS means the business of the Licensee and the businesses of its
Subsidiaries as such businesses may exist from time to time

EFFECTIVE DATE means the date hereof;

INTELLECTUAL PROPERTY means trade marks, trade names, rights in domain names,
design rights, patents, copyright (including rights in computer software and
databases, moral rights and rental and lending rights), know-how and other
intellectual property rights, in each case whether registered or unregistered
and including applications for the grant of the foregoing and all rights or
forms of protection having equivalent or similar effect to any of the foregoing
which may subsist anywhere in the world;

LICENSED MARKS means the "FINANCIAL TIMES" word mark, "FT" and "FT and Devices",
including all trade mark registrations or applications therefor, owned by or
made in the name

                                       1
<PAGE>   4

of the Licensor in the Territory during the Term and additional marks as agreed
between the parties from time to time;

LICENSED PRODUCTS means the current and future products and services used by the
Licensee in connection with the Business, including the Promotional Material;

PROMOTIONAL MATERIAL means any promotional and advertising materials in any
media created by (or on behalf of) the Licensee for the purpose of promoting or
advertising the Business, including business stationery of the Licensee;

SUBSIDIARY shall have the meaning set out in s736 of the Companies Act 1985.

TERM means the period from the Effective Date hereof unless terminated pursuant
to Clause 10;

TERRITORY means the world.

1.1  In this Agreement, unless the context otherwise requires:

(a)  references to persons shall include individuals, bodies corporate (whenever
     incorporated), un-incorporated associations and partnerships;

(b)  the headings are inserted for convenience only and shall not affect the
     construction of the Agreement;

(c)  references to one gender shall include each gender and all genders;

(d)  any reference to an enactment is a reference to it as from time to time
     amended, consolidated or re-enacted (with or without modification) and
     includes all instruments or orders made under such enactments.

2.   GRANT OF LICENCE

In consideration of the payment of the sum of (pound)1 per annum by the Licensee
to the Licensor (receipt of (pound)1 which is hereby acknowledged), the Licensor
hereby grants to the Licensee a nonexclusive, Licence during the Term and only
in the Territory to use the Licensed Marks:

(a)  in connection with the Business;

(b)  on and in the Licensed Products; and

(c)  except that Licensor grants Licensee an exclusive right to use the mark
     "FTID" and to use the mark "FT" in combination with "Interactive Data" as
     the composite mark "FT Interactive Data";

subject to the terms and conditions of this Agreement, provided always that the
Licensee shall not use any Licensed Marks:

                                       2
<PAGE>   5

     (i)   as part of the name of any company listed on any recognised stock
           exchange; or

     (ii)  as part of any ticker symbol; or

     (iii) in connection with its E-Signal retail information business.

3.   DEFENSE OF THIRD PARTY CLAIMS

If any claim, action or proceeding is brought by any third party against the
Licensee as a result of the use of the Licensed Marks by it or with its consent
in the Territory, the Licensor will be entitled (as far as is legally possible
and at the Licensee's cost) to participate in the defense of such claim, action
or proceeding and at its discretion to assume the defense thereof with such
legal advisers as it may select. If the Licensor shall elect to so assume the
defense, the Licensee shall cooperate with and provide such assistance as the
Licensor may reasonably request, at the Licensor's cost. The Licensee shall not
take any step in such proceedings, admit any liability, settle, compromise or
discharge any claim, action or proceeding without the Licensor's prior written
consent.

4.   ACKNOWLEDGMENT

The Licensee acknowledges and accepts that, insofar as the Licence granted in
Clause 2 relates to territories in which the Licensor has not registered the
Licensed Marks, the Licensor can and does Licence only such unregistered right,
title and interest in the Licensed Marks as it may own (if any). All warranties,
representations and undertakings as to the extent of any such rights (whether
express of implied) are hereby excluded. Licensor warrants and represents that,
to the best of its knowledge, it owns legal title and valid rights in the
Licensed Marks and use of the Licensed Marks pursuant to this Agreement does not
infringe the rights of any third parties.

5.   SUBLICENSING

5.1  The Licensee may sublicence its rights under this Agreement to one or more
of its Subsidiaries (EACH, A SUBLICENSEE) provided that:

(a)  the terms and conditions of each such sublicence (THE SUBLICENCE) are the
     same as those contained in this Agreement (except that (i) the Sublicensee
     shall not have the right to sub-sublicence its rights under the Sublicence
     and (ii) the Sublicence shall terminate automatically upon the Sublicensee
     ceasing to be a subsidiary of the Licensee); and

(b)  the Licensee shall procure that the Sublicensee observes and performs its
     obligations under the Sublicence and shall procure that the Sublicensee
     remedies any breach (if remediable) as soon as possible and in any event
     within 30 (thirty) Business Days of the breach; and

                                       3
<PAGE>   6

(c)  the Licensor shall be entitled to treat any breach by the Sublicensee of
     the terms of the Sublicence which cannot be remedied, or which has not been
     remedied within the timescale provided in sub-clause (b) above, as a
     material breach by the Licensee of the terms of this Agreement; and

(d)  the Licensee shall procure that the Sublicence shall terminate immediately
     upon termination or expiry of this Agreement for whatever reason.

5.2  The Licensee may authorise one or more of its third party trading
     affiliates to use the Licensed Marks in the context of indicating the
     affiliate's relationship to the Licensee (for example, "Sales and marketing
     representative of FT Interactive Data, in Switzerland," "Information
     supplied by FT Interactive Data" or "Developed in association with FT
     Interactive Data"). For purposes of this Section 5.2 only, E-Signal shall
     be deemed to be a third party trading affiliate.

6.   CONDITIONS OF USE

The Licensee hereby undertakes that:

(a)  it will use the Licensed Marks only as licensed herein and not otherwise;

(b)  the Licensed Products bearing the Licensed Marks will conform to such
     standards of quality as the Licensor may from time to time reasonably
     require, and without limitation shall be of a quality at least equal to
     that generally achieved by the Licensor in providing similar goods and
     services in the course of its business as at the date of this Agreement;

(c)  the Licensed Marks shall be used in a layout, form, size, printing style,
     colour and type face as appears at Exhibit A, and representative samples
     of, any use of the Licensed Marks in a new layout, form, size, printing
     style, colour or type face shall be approved by the Licensor in advance of
     use;

(d)  it will not use the Licensed Marks together or in combination with any
     other marks, names, logos, symbols or devices without the prior written
     consent of the Licensor; PROVIDED, HOWEVER, that it may use the Licensed
     Marks together or in combination with "Interactive Data" or any other
     marks, names, logos, symbols or devices of the Licensee or its
     Subsidiaries;

(e)  other than marks approved by the Licensor, it will not use any device mark,
     logo, or symbol which is substantially similar to or so nearly resembles
     the Licensed Marks as to be likely to cause deception or confusion;

(f)  it will meet, no more than quarterly, if so required by the Licensor, to
     discuss the maintenance of the above standards of quality and presentation.

                                       4
<PAGE>   7

7.   APPROVALS

Licensee shall provide Licensor with representative samples of articles bearing
the Licensed Marks, for the Licensor's disapproval or approval. Licensor shall
not unreasonably withhold approval, and Licensor's failure to provide
disapproval or approval of such samples within 10 business days of submission of
such samples shall constitute approval of those samples. If it is found that any
of the Licensed Products bearing or intended to bear the Licensed Marks (THE
MATERIALS) is not in conformity to any material extent with any of the
Licensee's obligations under this Agreement, the Licensor shall give the
Licensee written notice of that fact setting out the reasons for the lack of
conformity in reasonable detail. The Licensee undertakes that it will not print,
publish, distribute, issue to the public, sell or offer for sale any
non-conforming Materials under the Licensed Marks without the prior written
consent of the Licensor.

8.   ACKNOWLEDGEMENT/REGISTRATION OF THE MARKS

8.1. The Licensee acknowledges and agrees that:

(a)  as between the parties, all rights in and to the Licensed Marks belong to
     the Licensor;

(b)  it shall not in the Territory acquire or claim any interest in or title to
     the Licensed Marks or the goodwill attaching thereto by virtue of the
     rights granted to it under this Agreement or through its use of the
     Licensed Marks under this Agreement; and

(c)  all goodwill in the Licensed Marks arising through use of the Licensed
     Marks by the Licensee in the Territory shall at all times be deemed to have
     accrued to the Licensor.

8.2. Further, the Licensee undertakes that:

(a)  it shall not, in any jurisdiction, apply to register, register or seek to
     register any trade marks, copyright or analogous right which is identical
     with or substantially similar to or includes any of the Licensed Marks
     except that Licensor consents to Licensee's registration in Licensee's own
     name of the following domain names:
     `ftinteractivedata.com'

     `ftid.com'

     `ftiap.com'

     `ftsinfo.com'

     and also local and other variations thereof (such as `ftid.ja' or
     `ftinteractivedata.biz')

(b)  it shall use its best endeavours not to do anything that is reasonably
     likely to prejudice the Licensor's rights in and to the Licensed Marks;

                                       5
<PAGE>   8

(c)  at the Licensor's request and reasonable expense, it shall execute or
     procure the execution of any document which may be necessary to allow the
     recordal of the rights granted to the Licensee under this Agreement and the
     corresponding cancellation of such recordal on the termination or expiry of
     this Agreement, for whatever reason;

(d)  at the Licensor's request and reasonable expense, it shall provide the
     Licensor with such reasonable assistance as the Licensor considers
     necessary for the purpose of pursuing any application or obtaining or
     maintaining any registration of the Licensed Marks in the Territory.

9.   INFRINGEMENTS

9.1. The Licensee shall forthwith give written notice to the Licensor of any of
the following matters which may at any time during the continuance of this
Agreement come to its knowledge, giving full particulars thereof

(a)  any unauthorized use or suspected or threatened unauthorized use of the
     Licensed Marks, or any confusingly similar marks whether by reason of
     imitation of style or otherwise;

(b)  any allegation or complaint made by any third party that the use by the
     Licensee of the Licensed Marks in accordance with this Agreement may be
     liable to cause deception or confusion to the public;

(c)  any other form of attack, charge or claim to which the Licensed Marks may
     be subject;

provided always that the Licensee shall not make any admissions in respect of
such matters other than to the Licensor and provided further that the Licensee
shall in every case furnish the Licensor with all information in its possession
relating thereto which may be reasonably required by the Licensor.

9.2  The Licensor shall have the exclusive right in its sole and absolute
discretion, and at its own expense, to assume the conduct of all actions and
proceedings relating to the Licensed Marks in any country in the world and the
Licensee agrees to provide to the Licensor at the Licensor's reasonable expense
all assistance which the Licensor may reasonably require in connection
therewith. Any costs incurred by the Licensee or damages recovered as a result
of any such actions or proceedings shall be for the account of the Licensor.

9.3  The Licensee shall stop using the Licensed Marks in the Territory as soon
as reasonably practicable after receipt of written notice from the Licensor (or
the Licensor's trade mark agents or legal advisers from time to time) which
reasonably demonstrates that such use infringes the intellectual property rights
of any third party.

                                       6
<PAGE>   9

10.   TERM AND TERMINATION

10.1. This Agreement shall commence on the Effective Date and shall continue for
a period of 5 (five) years, automatically renewed thereafter annually unless
terminated in accordance with the other provisions of this Clause 10.

10.2. The Licensor may terminate this Agreement by giving written notice to the
Licensee effective forthwith:

(a)   if the Licensee challenges the validity of the Licensed Marks or the
      Licensor's right to use or Licence the Licensed Marks; or

(b)   if the Licensee commits a material breach of any term or condition of this
      Agreement and such breach (if capable of remedy) continues unremedied for
      more than 30 days after the Licensor has served a notice in writing on the
      Licensee giving details of the breach and requiring its remedy by the
      Licensee; or

(c)   if (save for the purposes of a voluntary reorganization, reconstruction or
      amalgamation) an order is made or a resolution is passed for the
      winding-up of the Licensee or if a provisional liquidator is appointed in
      respect of the Licensee, or if an administration order is made in respect
      of the Licensee, or if a receiver (which expression shall include an
      administrative receiver) is appointed in respect of the Licensee or all or
      any of its assets and is not discharged within a period of 30 days, or if
      the Licensee is unable to pay its debts within the meaning of Section 123
      of the Insolvency Act 1986 or any analogous or equivalent legislation in
      any country of the world, or if any voluntary arrangement is proposed in
      respect of the Licensee under Section 1 of the Insolvency Act 1986 or any
      analogous or equivalent legislation in any country of the world; or

(d)   if Pearson plc ceases to own, directly or indirectly, at least 50% of the
      Licensee.

10.3. The parties may terminate this Agreement upon mutual agreement.

The Licensor will terminate this agreement on 3 months prior written notice if
the Licensee fails to use substantially the Licensed Marks as described in the
recital.

11.   EFFECTS OF TERMINATION

11.1. Upon termination or expiry of this Agreement for any reason:

(a)   the rights and license granted hereunder to the Licensee shall cease and
      determine and the Licensee shall as soon as reasonably practicable
      thereafter, but not less than 3 months thereafter, discontinue any and all
      use of the Licensed Marks; and

(b)   the Licensor may request that, 3 or more months after termination of this
      Agreement, the Licensee delete or remove the Licensed Marks from or (where
      such deletion or removal is not reasonably practicable) destroy and
      provide to the Licensor

                                       7
<PAGE>   10

      satisfactory evidence of destruction, deletion or removal or if the
      Licensor shall so elect deliver to the Licensor, at the Licensor's cost,
      for destruction all materials in the possession or control of the Licensee
      to which the Licensed Marks are affixed; and

the Licensee shall otherwise cease all use of the Licensed Marks.

11.2. Termination of this Agreement shall be without prejudice to the rights of
either party which may have accrued up to the date of such termination.

12.  SUCCESSORS IN TITLE/ASSIGNMENT/SUB-LICENSING

Subject to Clause 5, the rights and obligations of the Licensee under this
Agreement are personal to the Licensee and the Licensee may not (and may not
purport to) assign, transfer, charge, sublicense, or otherwise part with all or
any of its rights and/or obligations under this Agreement.

13.  NOTICES

13.1. Any notice or other communication to be given by one party to the other
under, or in connection with the matters contemplated by, this Agreement shall
be in writing and signed by or on behalf of the party giving it and may be
served by leaving it or sending it by fax, pre-paid recorded delivery or
registered post to the address and for the attention of the relevant party set
out in clause 13.2 (or as otherwise notified from time to time hereunder). Any
notice so served by hand, fax or post shall be deemed to have been received:

(a)  in the case of delivery by hand, when delivered;

(b)  in the case of fax, twelve (12) hours after the time of dispatch;

(c)  in the case of prepaid recorded delivery or registered post, 48 hours from
     the date of posting.

13.2. The addresses of the parties for the purposes of Clause 13.1 are as
follows

(a)  Address for notices to the Licensor:

          The Financial Times Limited
          Number One Southwark Bridge
          London SE1 9HL
          UK

          Attention: Company Secretary

                                       8
<PAGE>   11

(b)  Address for notices to the Licensee:

          Data Broadcasting Corporation
          22 Crosby Drive
          Bedford, Massachusetts 01730
          USA

          Attention: General Counsel

14.  ENTIRE AGREEMENT

This Agreement represents the entire agreement and understanding between the
Licensor and the Licensee in relation to the use of the Licensed Marks by the
Licensee and shall supersede all arrangements or agreements relating to the
Licensed Marks previously entered into or made between the parties, including
but not limited to the Trade Mark Licence Agreement between the parties, dated
29 February, 2000, and all such arrangements or agreements are hereby
terminated.

15.  PRECEDENCE OF AGREEMENTS

15.1. In the event of any inconsistency between the provisions of this Agreement
and any agreement entered into pursuant to Clause 8.2(c) of this Agreement, the
provisions of this Agreement shall prevail and in particular (but without
limitation) nothing contained in any such agreement shall be deemed to extend
vary, modify or abrogate any of the rights or obligations of the parties under
this Agreement.

15.2. In the event of any inconsistency between the provisions of this Agreement
and the Agreement and Plan of Merger, the provisions of this Agreement shall
prevail.

16.  LEGAL RELATIONSHIP

Nothing in this Agreement shall be construed to constitute either party the
partner, joint venturer, agent or employee of the other party and, except as
expressly provided in this Agreement, neither party by virtue of this Agreement
has authority to transact any business in the name of the other party or on its
behalf or incur any liability for or on behalf of the other party.

17.  VARIATION

Any right, power, privilege or remedy of a party under or pursuant to this
Agreement shall not be capable of being varied or waived, otherwise than by an
express waiver or variation in writing.

18.  WAIVER

No failure or delay by any party in exercising any right, power, privilege or
remedy under this Agreement shall impair such right, power, privilege or remedy,
or operate or be

                                       9
<PAGE>   12

construed as a waiver or variation thereof or preclude its exercise at any
subsequent time or on any subsequent occasion and no single or partial exercise
of any such right, power, privilege or remedy shall preclude any other or
further exercise thereof or the exercise of any other right, power, privilege or
remedy.

19.  COUNTERPARTS

This Agreement may be executed in counterparts, each of which shall be
considered an original, with the same effect as if the parties or their
representatives signed the same instrument.

20.  SEVERANCE

If any provision of this Agreement is held to be invalid or unenforceable, then
such provision shall (so far as invalid or unenforceable) be given no effect and
shall be deemed not to be included in this Agreement but without invalidating
any of the remaining provisions of this Agreement. The parties shall then use
all reasonable endeavours to replace the invalid or unenforceable provisions by
a valid and enforceable substitute provision the effect of which is as close as
possible to the intended effect of the invalid or unenforceable provision.

21.  FURTHER ASSURANCE

Each party agrees to execute such documents and waivers and generally do
everything further that may be necessary to fulfill its obligations under this
Agreement.

22.  LAW AND JURISDICTION

This Agreement shall be governed by and construed in accordance with English law
and the parties irrevocably agree that the English Courts shall have exclusive
jurisdiction to settle any disputes which may arise out of or in connection with
this Agreement.

IN WITNESS WHEREOF the parties have executed this Agreement on the date
hereinbefore mentioned:

SIGNED by                                    )
                                             )
Duly authorized for and on behalf of         )
THE FINANCIAL TIMES LIMITED in               )
the presence of

SIGNED by                                    )
                                             )
Duly authorised for and on behalf of DATA    )
BROADCASTING CORPORATION in                  )
the presence of

                                       10<PAGE>   1

                                                                   EXHIBIT 10.13

                              EMPLOYMENT AGREEMENT

     THIS AGREEMENT (the Agreement) is being made as of the 15th day of October
1999 between DATA BROADCASTING CORPORATION, a Delaware corporation (the
Company), having its principal offices at 3490 Clubhouse Drive, Jackson, Wyoming
83001, and STEVEN G. CRANE (the Executive), an individual residing at 191 West
End Avenue, Ridgewood, New Jersey 07450.

                                  WITNESSETH:

     WHEREAS, the Company desires to employ the Executive and the Executive
desires to be employed by the Company as its Executive Vice President and Chief
Financial Officer upon the terms and conditions contained herein.

     NOW, THEREFORE, in consideration of the mutual premises and agreements
contained herein, and intending to be legally bound hereby, the parties hereto
agree as follows:

          1. Nature of Employment; Term of Employment.  The Company hereby
     employs the Executive and the executive agrees to serve the Company, upon
     the terms and conditions contained herein, for a term commencing no later
     than November 30, 1999 (the Effective Date) and continuing until June 30,
     2002 (the Employment Term); provided, however, that the Employment Term
     shall be extended to June 30, 2003, if, prior to December 31, 2000, a
     Change in Control (as defined in Section 8 of this Agreement) shall occur.

          2. Duties and Powers as Employee.  During the Employment Term, the
     Executive shall be employed by the Company as its Executive Vice President
     and Chief Financial Officer. The Executive shall be responsible for finance
     and administration. The Executive shall be based in the New York
     Metropolitan Area. The Executive agrees to devote his full time and efforts
     to the performance of his duties under this Agreement. In the performance
     of his duties, the Executive shall be subject to the direction of and shall
     report to the Chief Executive Officer of the Company. The Executive shall
     be available to travel as the needs of the business require.

          3. Compensation.

          (a) As compensation for his services hereunder, the Company shall pay
     the Executive, during the Employment Terms, a base salary (the Base Salary)
     payable in equal semi-monthly installments at the minimum annual rate of
     $300,000 through June 30, 2001 and $325,000 for the period July 1, 2001
     through the expiration of the Employment Term. Such payments shall be
     subject to withholding of all taxes payable

<PAGE>   2
     with respect thereto and deductions for insurance contributions and the
     like. Additionally, the Executive shall participate in the present or
     future employee benefit plans of the Company provided that he meets the
     eligibility requirements therefor.

          (b) In addition to the Base Salary provided herein Executive is
     eligible for a performance bonus payment (the Bonus), on an annual basis,
     in a sum equal to up to 100% of the Executive's Base Salary paid for the
     fiscal year then ended. The Company and Executive acknowledge that the
     expected Bonus in each fiscal year is 50% of Base Salary paid (the Target
     Bonus). One half of the Bonus shall be determined in the absolute and sole
     discretion of the Compensation Committee of the Board of Directors of the
     Company based upon an evaluation of the performance of the Executive and
     the Company during the previous fiscal year. One half of such Bonus shall
     be based upon financial criteria established at the commencement of each
     fiscal year during the Employment Term. For the Company's fiscal year ended
     June 30, 2000, such Bonus shall be no less than 50% of the Base Salary paid
     to the Executive during such fiscal year. To the extent that the Company
     determines to pay the Bonus to the Executive, the Bonus shall be paid to
     the Executive within ninety (90) days after the end of the Company's fiscal
     year notwithstanding that such date may be after the expiration of the
     Employment Term.

          (c) Effective as of the date of this Agreement, the Company shall
     issue to the Executive a non-qualified stock option to acquire 120,000
     shares of common stock of the Company. In addition, effective upon the
     first anniversary of the date of this Agreement, the Company shall issue to
     the Executive a non-qualified stock option to acquire 60,000 shares of
     common stock of the Company. Each such option shall vest over a period of
     three years and shall have an exercise price equal to the market price on
     the date of grant.

          (d) In the event the Executive's present employer requests him to
     repay a loan given to him in connection with his relocation to the New York
     Metropolitan Area, the Company shall pay the Executive a one time starting
     bonus equal to the amount of such loan, but no greater than $25,000.

          4. Expenses; Vacations.  The Executive shall be entitled to
     reimbursement for reasonable travel and other out-of-pocket expenses
     necessarily incurred in the performance of his duties hereunder, upon
     submission and approval of written statements and bills in accordance with
     the then regular procedures of the Company. The Executive shall be entitled
     to reasonable vacation time in accordance with then regular procedures of
     the Company governing executives as determined form time to time by the
     Company's Board of Directors but in no event less than twenty days per
     year.

          5. Representations and Warranties of Employee.  The Executive
     represents and warrants to the Company that (a) he is under no contractual
     or other restriction or obligation which is inconsistent with the execution
     of this Agreement, the performance of his duties hereunder, or the other
     rights of the Company hereunder; and (b) he is under no physical or mental
     disability that, with or without reasonable accommodation, would hinder his
<PAGE>   3
     performance of duties under this Agreement.

          6. Non-Competition. The Executive agrees that he will not (a) during
     the period he is employed under this Agreement engage in, or otherwise
     directly or indirectly be employed by, or act as a consultant or lender to,
     be a director, officer, employee, owner, or partner of, any other business
     or organization that is or shall then be competing with the Company, and
     (b) for a period of two (2) years after he ceases to be employed by the
     Company under this Agreement, directly or indirectly compete with or be
     engaged in the same business as the Company, or be employed by, or act as
     consultant or lender to, or be a director, officer, employee, owner, or
     partner of, any business or organization which at the time of such
     cessation, competes with or is engages in the same business as the Company,
     except that in each case the provisions of this Section 6 will not be
     deemed breached merely because the Executive owns not more than five
     percent (5.0%) of the outstanding common stock of a corporation, if, at the
     time of its acquisition by the Executive, such stock is listed on a
     national securities exchange, is reported on NASDAQ, or is regularly traded
     in the over-the-counter market by a member of national securities exchange.

          7. Confidential Information.  All confidential information which the
     Executive may now possess, may obtain during the Employment Term, or may
     create prior to the end of the period he is employed by the Company under
     this Agreement, relating to the business of the Company or of any customer
     or supplier of the Company shall not be published, disclosed, or made
     accessible by him to any other person, form, or corporation during the
     Employment Term or any time thereafter without the prior written consent of
     the Company. The Executive shall return all tangible evidence of such
     confidential information to the Company prior to or at the termination of
     his employment.

          8. Termination; Change in Control.

          (a) Termination for Cause.  Notwithstanding anything herein contained,
     if on or after the date hereof and prior to the end of the Employment Term,
     the Executive is terminated For Cause (as defined below), then the Company
     shall have the right to give notice of termination of Executive's services
     hereunder as of a date to be specified in such notice, and this Agreement
     shall terminate on the date so specified. Termination For Cause shall mean
     the Executive shall (i) be convicted of a felony crime, (ii) commit any act
     or omit to take any action in bad faith and to the detriment of the
     Company, (iii) commit an act or moral turpitude, (iv) commit an act of
     fraud against the Company, or (v) materially breach any term of this
     Agreement and fail to correct such breach within thirty (30) days after
     commission thereof.

          (b) Disability.  In the event that the Executive shall be physically
     or mentally incapacitated or disabled or otherwise unable fully to
     discharge his duties hereunder, with or without reasonable accommodation,
     for a period of six months, then this Agreement shall terminate upon 90
     days written notice to the Executive.

<PAGE>   4
             (c) Death.  In the event that the Executive shall die, then this
        Agreement shall terminate on the date of the Executive's death.

             (d) Change in Control.

          (i) For purposes of this Agreement, a Change in Control shall be
     deemed to have occurred if:

               (A) any person, as such term is used in Section 13(d) and 14(d)
     of the Securities Exchange Act of 1934, as amended (the Exchange Act)
     (other than (1) the Executive or Allan R. Tessler or Alan J. Hirschfield;
     (2) any trustee or other fiduciary holding securities under an employee
     benefit plan of the Company or (3) any corporation owned, directly or
     indirectly, by the stockholders of the Company in substantially the same
     proportion as their ownership of Shares), is or becomes the beneficial
     owner (as defined in Rule 13d-3 under the Exchange Act), directly or
     indirectly, of securities of the Company representing 50% or more of the
     combines voting power of the Company's then outstanding voting securities;

               (B) individuals who at the Effective Date constitute the Board,
     and any new director whole election by the Board or nomination for election
     by the Board or nomination for election by the Company's stockholders was
     approved by a vote of at least two-thirds (2/3) of the directors then still
     in office who either were directors at the beginning of the period or whose
     election or nomination for election was previously so approved, cease for
     any reason to constitute at least a majority thereof;

               (C) the stockholders of the Company approve a merger or
     consolidation of the company with any other corporation, other than (1) a
     merger or consolidation that would result in the voting securities of the
     Company outstanding immediately prior thereto continuing to represent
     (either by remaining outstanding or by being converted into voting
     securities of the surviving or parent entity outstanding immediately after
     such merger or consolidation of (2) a merger or consolidation effect to
     implement a re-capitalization of the Company (or similar transaction) in
     which no person as hereinabove defined) acquires 50% or more of the
     combined voting power of the Company's then outstanding securities;

               (D) the stockholders of the Company approve a plan of complete
     liquidation of the Company or an agreement for the sale or disposition by
     the Company of all or substantially all of the Company's assets (or any
     transaction having a similar effect).

          (e) Effect of Termination or Change in Control.

                (i) In the event that this Agreement is terminated pursuant to
           Section 8(a), then the Executive shall be entitled to receive only
           his Base Salary at the rate provided in Section 3 to the date on
           which termination shall take effect.

<PAGE>   5
                (ii) In the event that this Agreement is terminated by the
     Company pursuant to Section 8(b) or 8(c), then the Executive, or the
     Executive's beneficiary (as the case may be), shall be entitled to receive
     his Base Salary at the rate provided in Section 3 to the date on which
     termination shall take together with a lump sum distribution (with no
     present value adjustment) equal to the Base Salary at the rate provided in
     Section 3 for a period of six months. In such event then the Executive's
     issued but unvested options shall vent immediately upon such termination.
     The Executive, or the Executive's beneficiary (as the case may be), shall
     have the right to exercise any stock option for a period of one year
     following the date of termination, but in no event beyond the expiration
     date of any such option.

               (iii) In the event that this Agreement is terminated by the
     Company for any reason other than pursuant to Section 8(a), (b) or (c),
     then the Executive, or the Executive's beneficiary (as the case may be),
     shall be entitled to receive his Base Salary at the rate provided in
     Section 3 to the date on which termination shall take effect together with
     a lump sum distribution (with no present value adjustment) equal to the
     Base Salary and Target Bonus at the rate provided in Section 3 for a period
     of the greater of one year or the balance of the Employment Term. In the
     case of a Change in Control, any of the Executive's issued but unvested
     options shall vest immediately upon such Change in Control. The Executive,
     or the Executive's beneficiary (as the case may be), shall have the right
     to exercise any stock option for a period of one year following the date of
     termination, but in no event beyond the expiration date of any such option.
     In addition, in such case the two (2) year period described in Section 6(b)
     of this Agreement shall be reduced to one (1) year.

               (f) Nothing contained in this Section 8 shall be deemed to limit
     any other right the Company may have to terminate Employee's employment
     hereunder upon any ground permitted by law.

          9. Change of Control.

          In the event of a future disposition of (or including) the properties
     and business of the Company, substantially as an entirety, by merger,
     consolidation, sale of assets, or otherwise, the Company shall assign this
     letter and all of its rights and obligations hereunder to the acquiring or
     surviving corporation, such corporation shall assume in writing all of the
     obligations of the Company, and the Company (in the event and so long as it
     remains in business as an independent going enterprise) shall remain liable
     for the performance of its obligations hereunder in the vent of an
     unjustified failure of the acquiring corporation to perform its obligations
     under this letter.

          10. Survival.  The covenants, agreements, representations, and
     warranties contained in or made pursuant to this Agreement shall survive
     the Executive's
<PAGE>   6

     termination of employment, irrespective of any investigation made by or on
     behalf of any party.

          11. Modification.  This Agreement sets forth the entire understanding
     of the parties with respect to the subject matter hereof, terminates and
     supersedes all existing agreements (written, oral or otherwise) between
     them concerning such subject matter, and may be modified only by a written
     instrument duly executive by each party. The Executive acknowledges that no
     other representations, oral or written, have been made regarding the
     subject matter hereof, other than those explicitly provided herein. The
     Executive further acknowledges that he has not relied on any oral or
     written representations not explicitly contained herein in executing this
     Agreement.

          12. Notices.  Any notice or other communication required or permitted
     to be given hereunder shall be in writing and shall be mailed by certified
     mail, return receipt requested, or delivered against receipt to the party
     to whom it is to be given at the address of such party set forth in the
     preamble to this Agreement (or to such other address as the party shall
     have furnished in writing in accordance with the provisions of this Section
     12). In the case of a notice to the Company, a copy of such notice (which
     copy shall not constitute notice) shall be delivered to Camhy Karlinsky &
     Stein LLP, 1740 Broadway, New York, New York 10019-4315, Attn. Alan I.
     Annex, Esq. Notice to the estate of the Executive shall be sufficient if
     addressed to the Executive as provided in this Section 12. Any notice or
     other communication given by certified mail shall be deemed given at the
     time of certification thereof, except for a notice changing a party's
     address which shall be deemed given at the time of receipt thereof.

          13. Waiver.  Any waiver by either party of a breach of any provision
     of this Agreement shall not operate as or be construed to be a waiver of
     any other breach of such provision or of any breach of any other provision
     of this Agreement. The failure of a party to insist upon strict adherence
     to any term of this Agreement on one or more occasions shall not be
     considered a waiver or deprive that party of the right thereafter to insist
     upon strict adherence to that term or any other term of this Agreement. Any
     waiver must be in writing.

          14. Binding Effect.  The Executive's rights and obligations under this
     Agreement shall not be transferable by assignment or otherwise, such rights
     shall not be subject to encumbrance or the claims of the Executive's
     creditors, an any attempt to do any of the foregoing shall be void. The
     provisions of this Agreement shall be binding upon and inure to the benefit
     of the Executive and his heirs and personal representatives, shall be
     binding upon and inure to the benefit of the Company and its successors and
     those who are its assigns under Section 9.

          15. Headings.  The headings in this Agreement are solely for the
     convenience of reference and shall be given no effect in the construction
     or interpretations of this Agreement.

<PAGE>   7
     16. Counterparts: Governing Law.  This Agreement may be executed in any
number of counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. It shall be
governed by, and construed in accordance with, the laws of the State of Wyoming,
without giving effect to the rules governing the conflicts of laws.

     IN WITNESS WHEREOF, the parties have duly executed this Agreement as of the
date first written above.

                                          DATA BROADCASTING CORPORATION

                                          BY:/s/ Mark F. Imperiale
                                            ------------------------------------
                                            NAME: MARK F. IMPERIALE
                                            TITLE: PRESIDENT

                                            /s/ Steven G. Crane
                                            ------------------------------------
                                            STEVEN G. CRANE

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00022-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00022-of-00352.parquet"}]]