Document:

Exhibit 10.2

                                                                  EXECUTION COPY

                          REGISTRATION RIGHTS AGREEMENT

     REGISTRATION RIGHTS AGREEMENT (this "Agreement"),  dated as of November 24,
2004, by and between WALKER FINANCIAL CORPORATION, a Delaware corporation,  (the
"Company"), and FUSION CAPITAL FUND II, LLC (together with it permitted assigns,
the "Buyer").  Capitalized  terms used herein and not otherwise  defined  herein
shall  have the  respective  meanings  set forth in the  Common  Stock  Purchase
Agreement  by and between the  parties  hereto,  dated as of the date hereof (as
amended,  restated,  supplemented  or otherwise  modified from time to time, the
"Purchase Agreement").

                                    WHEREAS:

     A. The Company has agreed,  upon the terms and subject to the conditions of
the  Purchase  Agreement,  to issue to the Buyer (i) up to Six  Million  Dollars
($6,000,000)  of the  Company's  common  stock,  par value  $0.10 per share (the
"Common  Stock")  (the  "Purchase  Shares"),  and (ii) such  number of shares of
Common Stock as is required  pursuant to Section 4(f) of the Purchase  Agreement
(the "Commitment Shares"); and

     B. To induce the Buyer to enter into the  Purchase  Agreement,  the Company
has agreed to provide  certain  registration  rights under the Securities Act of
1933,  as  amended,  and the rules and  regulations  thereunder,  or any similar
successor  statute   (collectively,   the  "1933  Act"),  and  applicable  state
securities laws.

     NOW,  THEREFORE,  in consideration of the premises and the mutual covenants
contained  herein and other good and  valuable  consideration,  the  receipt and
sufficiency of which are hereby  acknowledged,  the Company and the Buyer hereby
agree as follows:

     1. DEFINITIONS.
        -----------

        As used in this Agreement, the following terms shall have the  following
meanings:

        a. "Investor" means the Buyer, any transferee  or  assignee  thereof  to
whom a Buyer  assigns its rights under this  Agreement  and who agrees to become
bound by the provisions of this  Agreement in accordance  with Section 9 and any
transferee  or assignee  thereof to whom a  transferee  or assignee  assigns its
rights under this  Agreement and who agrees to become bound by the provisions of
this Agreement in accordance with Section 9.

        b. "Person" means any person or  entity  including  any  corporation,  a
limited liability company,  an association,  a partnership,  an organization,  a
business,  an individual,  a governmental or political  subdivision thereof or a
governmental agency.

        c. "Register," "registered," and "registration" refer to a  registration
effected by  preparing  and filing one or more  registration  statements  of the
Company in compliance  with the 1933 Act and pursuant to Rule 415 under the 1933
Act or any  successor  rule  providing  for offering  securities on a continuous
basis ("Rule 415"),  and the  declaration or ordering of  effectiveness  of such
registration   statement(s)  by  the  United  States   Securities  and  Exchange
Commission (the "SEC").

<PAGE>

        d. "Registrable Securities" means the Purchase Shares which  have  been,
or which may from time to time be,  issued or  issuable  upon  purchases  of the
Available Amount under the Purchase  Agreement (without regard to any limitation
or  restriction  on  purchases)  the Signing  Shares,  issued or issuable to the
Investor,  and the Commitment  Shares issued or issuable to the Investor and any
shares of capital stock issued or issuable with respect to the Purchase  Shares,
the Commitment Shares,  the Signing Shares,  issued or issuable to the Investor,
or the  Purchase  Agreement  as a result of any  stock  split,  stock  dividend,
recapitalization,  exchange or similar event or otherwise, without regard to any
limitation on purchases under the Purchase Agreement.

        e. "Registration Statement" means  the  registration  statement  of  the
Company covering the sale of the Registrable Securities.

     2. REGISTRATION.
        ------------

        a.  Mandatory Registration. The Company shall within thirty (30) Trading
Days from the date  hereof  file with the SEC the  Registration  Statement.  The
Registration  Statement  shall register only the  Registrable  Securities and no
other  securities  of the Company.  The  Investor  and its counsel  shall have a
reasonable opportunity to review and comment upon such registration statement or
amendment to such registration statement and any related prospectus prior to its
filing with the SEC. Investor shall furnish all information reasonably requested
by the Company for inclusion therein.  The Company shall use its best efforts to
have the Registration  Statement or amendment  declared  effective by the SEC at
the earliest  possible date.  The Company shall use  reasonable  best efforts to
keep the Registration Statement effective pursuant to Rule 415 promulgated under
the 1933 Act and available for sales of all of the Registrable Securities at all
times until the earlier of (i) the date as of which the Investor may sell all of
the  Registrable   Securities  without  restriction   pursuant  to  Rule  144(k)
promulgated under the 1933 Act (or successor  thereto) or (ii) the date on which
(A) the Investor shall have sold all the Registrable Securities and no Available
Amount remains under the Purchase  Agreement (the  "Registration  Period").  The
Registration  Statement  (including any  amendments or  supplements  thereto and
prospectuses  contained  therein)  shall not contain any untrue  statement  of a
material fact or omit to state a material fact required to be stated therein, or
necessary to make the statements therein, in light of the circumstances in which
they were made, not misleading.

        b. Rule 424  Prospectus. The Company shall, as  required  by  applicable
securities  regulations,  from time to time file with the SEC,  pursuant to Rule
424 promulgated  under the 1933 Act, the prospectus and prospectus  supplements,
if any, to be used in connection with sales of the Registrable  Securities under
the Registration Statement. The Investor and its counsel shall have a reasonable
opportunity to review and comment upon such prospectus  prior to its filing with
the SEC. The Investor shall use its reasonable best efforts to comment upon such
prospectus  within two (2) Trading Day from the date the  Investor  receives the
final version of such prospectus.

        c.  Sufficient Number of Shares Registered. In the event the  number  of
shares available under the  Registration  Statement is insufficient to cover all
of  the  Registrable  Securities,  the  Company  shall  amend  the  Registration
Statement or file a new registration statement (a "New Registration Statement"),
so as to cover all of such Registrable Securities as soon as practicable, but in
any event not later  than ten (10)  Trading  Days after the  necessity  therefor
arises. The Company shall use it reasonable best efforts to cause such amendment
and/or New  Registration  Statement to become  effective as soon as  practicable
following the filing thereof.

                                       2
<PAGE>

     3. RELATED OBLIGATIONS.
        -------------------

     With respect to the  Registration  Statement  and whenever any  Registrable
Securities  are to be registered  pursuant to Section 2(b)  including on any New
Registration  Statement,  the Company shall use its  reasonable  best efforts to
effect the  registration  of the  Registrable  Securities in accordance with the
intended method of disposition thereof and, pursuant thereto,  the Company shall
have the following obligations:

        a.  The  Company shall prepare and file with  the  SEC  such  amendments
(including  post-effective  amendments)  and  supplements  to  any  registration
statement  and  the  prospectus  used  in  connection  with  such   registration
statement,  which  prospectus  is to be filed  pursuant to Rule 424  promulgated
under the 1933 Act, as may be  necessary to keep the  Registration  Statement or
any New  Registration  Statement  effective at all times during the Registration
Period, and, during such period, comply with the provisions of the 1933 Act with
respect to the disposition of all Registrable  Securities of the Company covered
by the Registration  Statement or any New Registration Statement until such time
as all of such Registrable  Securities shall have been disposed of in accordance
with the intended methods of disposition by the seller or sellers thereof as set
forth in such registration statement.

        b. The Company shall permit the Investor to review and comment upon  the
Registration  Statement or any New Registration Statement and all amendments and
supplements thereto at least two (2) Trading Days prior to their filing with the
SEC, and not file any document in a form to which Investor  reasonably  objects.
The  Investor  shall  use its  reasonable  best  efforts  to  comment  upon  the
Registration  Statement or any New Registration  Statement and any amendments or
supplements  thereto  within  two (2)  Trading  Days from the date the  Investor
receives the final version  thereof.  The Company shall furnish to the Investor,
without  charge any  correspondence  from the SEC or the staff of the SEC to the
Company or its representatives relating to the Registration Statement or any New
Registration Statement.

        c. Upon request of the  Investor,  the  Company  shall  furnish  to  the
Investor,  (i)  promptly  after the same is prepared  and filed with the SEC, at
least one copy of such  registration  statement  and any  amendment(s)  thereto,
including financial statements and schedules, all documents incorporated therein
by reference and all exhibits,  (ii) upon the  effectiveness of any registration
statement,  ten (10)  copies of the  prospectus  included  in such  registration
statement and all  amendments and  supplements  thereto (or such other number of
copies as the Investor may reasonably  request) and (iii) such other  documents,
including  copies of any  preliminary or final  prospectus,  as the Investor may
reasonably  request from time to time in order to facilitate the  disposition of
the Registrable Securities owned by the Investor.

        d. The Company shall use reasonable best efforts  to  (i)  register  and
qualify the  Registrable  Securities  covered by a registration  statement under
such other  securities  or "blue sky" laws of such  jurisdictions  in the United
States as the  Investor  reasonably  requests,  (ii)  prepare  and file in those
jurisdictions,   such  amendments  (including  post-effective   amendments)  and
supplements  to such  registrations  and  qualifications  as may be necessary to
maintain the effectiveness  thereof during the Registration  Period,  (iii) take
such other  actions as may be  necessary  to  maintain  such  registrations  and
qualifications in effect at all times during the Registration  Period,  and (iv)
take all  other  actions  reasonably  necessary  or  advisable  to  qualify  the
Registrable Securities for sale in such jurisdictions;  provided,  however, that
the  Company  shall not be required in  connection  therewith  or as a condition
thereto to (x)  qualify to do business  in any  jurisdiction  where it would not
otherwise be required to qualify but for this Section 3(d),  (y) subject  itself
to general taxation in any such  jurisdiction,  or (z) file a general consent to
service of process in any such  jurisdiction.  The Company shall promptly notify
the Investor who holds  Registrable  Securities of the receipt by the Company of
any  notification  with  respect  to  the  suspension  of  the  registration  or
qualification of any of the Registrable Securities for sale under the securities
or "blue sky" laws of any  jurisdiction  in the United  States or its receipt of
actual  notice of the  initiation  or  threatening  of any  proceeding  for such
purpose.

                                       3
<PAGE>

        e. As promptly as practicable after becoming  aware  of  such  event  or
facts,  the Company shall notify the Investor in writing of the happening of any
event or existence of such facts as a result of which the prospectus included in
any registration statement, as then in effect, includes an untrue statement of a
material fact or omits to state a material fact required to be stated therein or
necessary to make the statements  therein,  in light of the circumstances  under
which they were made,  not  misleading,  and promptly  prepare a  supplement  or
amendment to such  registration  statement  to correct such untrue  statement or
omission,  and deliver ten (10) copies of such  supplement  or  amendment to the
Investor  (or such  other  number  of  copies  as the  Investor  may  reasonably
request).  The Company  shall also  promptly  notify the Investor in writing (i)
when a prospectus or any prospectus  supplement or post-effective  amendment has
been filed, and when a registration  statement or any  post-effective  amendment
has become effective  (notification of such effectiveness  shall be delivered to
the Investor by facsimile on the same day of such effectiveness and by overnight
mail),  (ii) of any  request by the SEC for  amendments  or  supplements  to any
registration  statement or related prospectus or related information,  and (iii)
of the Company's reasonable  determination that a post-effective  amendment to a
registration statement would be appropriate.

        f. The Company shall use its reasonable  best  efforts  to  prevent  the
issuance  of  any  stop  order  or  other  suspension  of  effectiveness  of any
registration   statement,   or  the  suspension  of  the  qualification  of  any
Registrable  Securities  for sale in any  jurisdiction  and, if such an order or
suspension  is issued,  to obtain the  withdrawal of such order or suspension at
the earliest  possible moment and to notify the Investor of the issuance of such
order  and the  resolution  thereof  or its  receipt  of  actual  notice  of the
initiation or threat of any proceeding for such purpose.

        g. The Company shall (i) cause all  the  Registrable  Securities  to  be
listed on each  securities  exchange  on which  securities  of the same class or
series  issued by the  Company are then  listed,  if any, if the listing of such
Registrable  Securities is then permitted  under the rules of such exchange,  or
(ii) secure  designation and quotation of all the Registrable  Securities on the
Principal Market. The Company shall pay all fees and expenses in connection with
satisfying its obligation under this Section.

        h. The Company shall cooperate  with  the  Investor  to  facilitate  the
timely  preparation  and delivery of  certificates  (not bearing any restrictive
legend)  representing  the Registrable  Securities to be offered pursuant to any
registration  statement and enable such certificates to be in such denominations
or amounts as the Investor may  reasonably  request and registered in such names
as the Investor may request.

        i. The Company shall at all times provide a transfer agent and registrar
with respect to its Common Stock.

        j.  If  reasonably requested by the  Investor,  the  Company  shall  (i)
immediately  incorporate in a prospectus supplement or post-effective  amendment
such information as the Investor believes should be included therein relating to
the  sale  and  distribution  of  Registrable  Securities,   including,  without
limitation,  information  with respect to the number of  Registrable  Securities
being sold,  the purchase  price being paid  therefor and any other terms of the
offering of the Registrable  Securities;  (ii) make all required filings of such
prospectus  supplement  or  post-effective  amendment as soon as notified of the
matters to be  incorporated  in such  prospectus  supplement  or  post-effective
amendment;   and  (iii)  supplement  or  make  amendments  to  any  registration
statement.

                                       4
<PAGE>

        k.  The Company shall use its  reasonable  best  efforts  to  cause  the
Registrable   Securities  covered  by  the  any  registration  statement  to  be
registered with or approved by such other  governmental  agencies or authorities
as  may  be  necessary  to  consummate  the  disposition  of  such   Registrable
Securities.

        l.  Within one (1) Trading Day after any  registration  statement  which
includes the Registrable Securities is ordered effective by the SEC, the Company
shall deliver,  and shall cause legal counsel for the Company to deliver, to the
transfer  agent for such  Registrable  Securities  (with copies to the Investor)
confirmation that such registration statement has been declared effective by the
SEC in the form attached hereto as Exhibit A.

        m. The Company shall take all  other  reasonable  actions  necessary  to
expedite and facilitate  disposition  by the Investor of Registrable  Securities
pursuant to any registration statement.

     4. OBLIGATIONS OF THE INVESTOR.
        ---------------------------

        a. The Company shall notify the Investor in writing of  the  information
the  Company  reasonably  requires  from the  Investor  in  connection  with any
registration statement hereunder. The Investor shall furnish to the Company such
information  regarding  itself,  the  Registrable  Securities held by it and the
intended method of disposition of the Registrable Securities held by it as shall
be reasonably required to effect the registration of such Registrable Securities
and shall execute such  documents in connection  with such  registration  as the
Company may reasonably request.

        b. The  Investor agrees to cooperate  with  the  Company  as  reasonably
requested by the Company in connection  with the  preparation  and filing of any
registration statement hereunder.

        c. The Investor agrees that, upon receipt of any notice from the Company
of the  happening of any event or  existence  of facts of the kind  described in
Section  3(f) or the first  sentence  of 3(e),  the  Investor  will  immediately
discontinue  disposition of Registrable  Securities pursuant to any registration
statement(s)  covering such Registrable  Securities until the Investor's receipt
of the copies of the supplemented or amended prospectus  contemplated by Section
3(f) or the first  sentence of 3(e).  Notwithstanding  anything to the contrary,
the Company shall cause its transfer agent to promptly  deliver shares of Common
Stock  without  any  restrictive  legend  in  accordance  with the  terms of the
Purchase  Agreement in connection  with any sale of Registrable  Securities with
respect to which an Investor  has entered  into a contract for sale prior to the
Investor's receipt of a notice from the Company of the happening of any event of
the kind  described in Section 3(f) or the first  sentence of 3(e) and for which
the Investor has not yet settled.

     5. EXPENSES OF REGISTRATION.
        ------------------------

     All  reasonable  expenses,  other  than  sales  or  brokerage  commissions,
incurred in connection with registrations, filings or qualifications pursuant to
Sections 2 and 3, including,  without limitation, all registration,  listing and
qualifications fees, printers and accounting fees, and fees and disbursements of
counsel for the Company, shall be paid by the Company.

                                       5
<PAGE>

     6. INDEMNIFICATION.
        ---------------

        a. To the fullest extent permitted by law, the Company will, and  hereby
does, indemnify, hold harmless and defend the Investor, each Person, if any, who
controls  the  Investor,  the  members,  the  directors,   officers,   partners,
employees, agents,  representatives of the Investor and each Person, if any, who
controls  the  Investor  within the  meaning  of the 1933 Act or the  Securities
Exchange  Act of 1934,  as  amended  (the "1934  Act")  (each,  an  "Indemnified
Person"), against any losses, claims, damages,  liabilities,  judgments,  fines,
penalties,  charges,  costs,  attorneys'  fees,  amounts paid in  settlement  or
expenses, joint or several, (collectively,  "Claims") incurred in investigating,
preparing  or  defending  any  action,   claim,   suit,   inquiry,   proceeding,
investigation  or appeal  taken  from the  foregoing  by or before  any court or
governmental,  administrative  or  other  regulatory  agency,  body or the  SEC,
whether pending or threatened,  whether or not an indemnified party is or may be
a party thereto ("Indemnified Damages"), to which any of them may become subject
insofar  as such  Claims  (or  actions  or  proceedings,  whether  commenced  or
threatened,  in respect  thereof) arise out of or are based upon: (i) any untrue
statement or alleged  untrue  statement of a material  fact in the  Registration
Statement,  any  New  Registration  Statement  or any  post-effective  amendment
thereto  or in any  filing  made in  connection  with the  qualification  of the
offering  under the securities or other "blue sky" laws of any  jurisdiction  in
which Registrable Securities are offered ("Blue Sky Filing"), or the omission or
alleged  omission  to state a material  fact  required  to be stated  therein or
necessary  to make the  statements  therein  not  misleading,  (ii)  any  untrue
statement or alleged untrue  statement of a material fact contained in the final
prospectus  (as  amended or  supplemented,  if the Company  files any  amendment
thereof or supplement  thereto with the SEC) or the omission or alleged omission
to state  therein  any  material  fact  necessary  to make the  statements  made
therein,  in light of the circumstances  under which the statements therein were
made, not misleading, (iii) any violation or alleged violation by the Company of
the 1933 Act, the 1934 Act, any other law, including,  without  limitation,  any
state securities law, or any rule or regulation thereunder relating to the offer
or sale of the Registrable  Securities pursuant to the Registration Statement or
any New Registration  Statement or (iv) any material violation by the Company of
this  Agreement  (the matters in the  foregoing  clauses (i) through (iv) being,
collectively, "Violations"). The Company shall reimburse each Indemnified Person
promptly as such  expenses are  incurred and are due and payable,  for any legal
fees  or  other  reasonable   expenses  incurred  by  them  in  connection  with
investigating  or  defending  any such  Claim.  Notwithstanding  anything to the
contrary  contained  herein,  the  indemnification  agreement  contained in this
Section 6(a):  (i) shall not apply to a Claim by an  Indemnified  Person arising
out of or based upon a Violation which occurs in reliance upon and in conformity
with information  furnished in writing to the Company by such Indemnified Person
expressly  for  use in  connection  with  the  preparation  of the  Registration
Statement,  any New  Registration  Statement  or any such  amendment  thereof or
supplement  thereto, if such prospectus was timely made available by the Company
pursuant to Section 3(c) or Section  3(e);  (ii) with respect to any  superceded
prospectus,  shall not inure to the  benefit  of any such  person  from whom the
person  asserting any such Claim purchased the  Registrable  Securities that are
the subject thereof (or to the benefit of any person controlling such person) if
the untrue  statement or omission of material fact  contained in the  superceded
prospectus  was  corrected  in  the  revised  prospectus,  as  then  amended  or
supplemented,  if such  revised  prospectus  was timely  made  available  by the
Company pursuant to Section 3(c) or Section 3(e), and the Indemnified Person was
promptly advised in writing not to use the incorrect prospectus prior to the use
giving rise to a violation and such  Indemnified  Person,  notwithstanding  such
advice,  used it; (iii) shall not be available to the extent such Claim is based
on a  failure  of the  Investor  to  deliver  or to  cause to be  delivered  the
prospectus  made  available by the Company,  if such  prospectus was timely made
available  by the Company  pursuant to Section  3(c) or Section  3(e);  and (iv)
shall not apply to amounts paid in settlement of any Claim if such settlement is
effected  without the prior written consent of the Company,  which consent shall
not be  unreasonably  withheld.  Such  indemnity  shall remain in full force and
effect regardless of any  investigation  made by or on behalf of the Indemnified
Person and shall  survive the  transfer  of the  Registrable  Securities  by the
Investor pursuant to Section 9.

                                       6
<PAGE>

        b. In connection with the Registration Statement or any New Registration
Statement,  the Investor  agrees to severally  and not jointly  indemnify,  hold
harmless  and defend,  to the same extent and in the same manner as is set forth
in Section 6(a), the Company,  each of its  directors,  each of its officers who
signs the Registration Statement or any New Registration Statement, each Person,
if any, who controls the Company  within the meaning of the 1933 Act or the 1934
Act  (collectively  and together with an  Indemnified  Person,  an  "Indemnified
Party"),  against  any  Claim or  Indemnified  Damages  to which any of them may
become subject,  under the 1933 Act, the 1934 Act or otherwise,  insofar as such
Claim or Indemnified  Damages arise out of or are based upon any  Violation,  in
each case to the extent,  and only to the extent,  that such Violation occurs in
reliance upon and in conformity with written  information about the Investor set
forth on Exhibit B attached  hereto and furnished to the Company by the Investor
expressly for use in connection with such registration  statement;  and, subject
to  Section  6(d),  the  Investor  will  reimburse  any legal or other  expenses
reasonably  incurred by them in connection with  investigating  or defending any
such Claim;  provided,  however,  that the indemnity agreement contained in this
Section 6(b) and the agreement with respect to contribution contained in Section
7 shall not apply to amounts paid in settlement of any Claim if such  settlement
is effected  without the prior written  consent of the  Investor,  which consent
shall  not be  unreasonably  withheld;  provided,  further,  however,  that  the
Investor shall be liable under this Section 6(b) for only that amount of a Claim
or Indemnified  Damages as does not exceed the net proceeds to the Investor as a
result  of the sale of  Registrable  Securities  pursuant  to such  registration
statement.  Such indemnity  shall remain in full force and effect  regardless of
any  investigation  made by or on  behalf  of such  Indemnified  Party and shall
survive the transfer of the Registrable  Securities by the Investor  pursuant to
Section 9.

        c. Promptly after receipt by an Indemnified Person or Indemnified  Party
under this Section 6 of notice of the  commencement  of any action or proceeding
(including  any  governmental  action or  proceeding)  involving  a Claim,  such
Indemnified  Person or Indemnified Party shall, if a Claim in respect thereof is
to be made against any  indemnifying  party under this Section 6, deliver to the
indemnifying  party  a  written  notice  of the  commencement  thereof,  and the
indemnifying  party shall have the right to  participate  in, and, to the extent
the indemnifying  party so desires,  jointly with any other  indemnifying  party
similarly  noticed,  to assume  control  of the  defense  thereof  with  counsel
mutually  satisfactory to the indemnifying  party and the Indemnified  Person or
the  Indemnified  Party,  as  the  case  may  be;  provided,  however,  that  an
Indemnified  Person or Indemnified  Party shall have the right to retain its own
counsel with the fees and expenses to be paid by the indemnifying  party, if, in
the  reasonable  opinion of counsel  retained  by the  indemnifying  party,  the
representation  by such counsel of the Indemnified  Person or Indemnified  Party
and the  indemnifying  party would be  inappropriate  due to actual or potential
differing interests between such Indemnified Person or Indemnified Party and any
other party  represented  by such counsel in such  proceeding.  The  Indemnified
Party or Indemnified Person shall cooperate fully with the indemnifying party in
connection  with any  negotiation  or defense of any such action or claim by the
indemnifying  party and shall furnish to the indemnifying  party all information
reasonably  available  to the  Indemnified  Party or  Indemnified  Person  which
relates  to such  action  or  claim.  The  indemnifying  party  shall  keep  the
Indemnified  Party or  Indemnified  Person fully apprised at all times as to the
status of the defense or any settlement  negotiations  with respect thereto.  No
indemnifying  party shall be liable for any  settlement of any action,  claim or
proceeding  effected without its written consent,  provided,  however,  that the
indemnifying  party shall not  unreasonably  withhold,  delay or  condition  its
consent.  No  indemnifying  party shall,  without the consent of the Indemnified
Party or Indemnified Person,  consent to entry of any judgment or enter into any
settlement or other compromise  which does not include as an unconditional  term
thereof the giving by the  claimant or plaintiff  to such  Indemnified  Party or
Indemnified  Person of a release from all  liability in respect to such claim or
litigation.   Following   indemnification   as  provided  for   hereunder,   the
indemnifying party shall be subrogated to all rights of the Indemnified Party or
Indemnified  Person with  respect to all third  parties,  firms or  corporations
relating to the matter for which  indemnification  has been made. The failure to
deliver written notice to the indemnifying party within a reasonable time of the
commencement of any such action shall not relieve such indemnifying party of any
liability to the Indemnified  Person or Indemnified  Party under this Section 6,
except to the extent that the indemnifying party is prejudiced in its ability to
defend such action.

                                       7
<PAGE>

        d. The indemnification required by this  Section  6  shall  be  made  by
periodic  payments of the amount thereof during the course of the  investigation
or defense, as and when bills are received or Indemnified Damages are incurred.

        e. The indemnity agreements contained herein shall be in addition to (i)
any cause of action or similar  right of the  Indemnified  Party or  Indemnified
Person against the  indemnifying  party or others,  and (ii) any liabilities the
indemnifying party may be subject to pursuant to the law.

     7. CONTRIBUTION.
        ------------

     To the extent any indemnification by an indemnifying party is prohibited or
limited by law, the indemnifying  party agrees to make the maximum  contribution
with respect to any amounts for which it would otherwise be liable under Section
6 to the fullest extent permitted by law; provided, however, that: (i) no seller
of Registrable  Securities  guilty of fraudulent  misrepresentation  (within the
meaning of Section 11(f) of the 1933 Act) shall be entitled to contribution from
any  seller  of  Registrable   Securities  who  was  not  guilty  of  fraudulent
misrepresentation; and (ii) contribution by any seller of Registrable Securities
shall be limited in amount to the net amount of proceeds received by such seller
from the sale of such Registrable Securities.

     8. REPORTS AND DISCLOSURE UNDER THE SECURITIES ACTS.
        ------------------------------------------------

     With a view to making  available  to the  Investor the benefits of Rule 144
promulgated  under the 1933 Act or any other  similar rule or  regulation of the
SEC that may at any time permit the Investor to sell  securities  of the Company
to the public without  registration  ("Rule 144"),  the Company  agrees,  at the
Company's sole expense, to:

        a.  make and keep public  information  available,  as  those  terms  are
understood and defined in Rule 144;

        b. file with the SEC in a timely manner all reports and other  documents
required  of the  Company  under  the  1933  Act and the 1934 Act so long as the
Company remains subject to such  requirements and the filing of such reports and
other documents is required for the applicable provisions of Rule 144; and

        c.  furnish to the Investor so long as  the  Investor  owns  Registrable
Securities,  promptly upon request,  (i) a written statement by the Company that
it has complied with the reporting and or disclosure provisions of Rule 144, the
1933 Act and the 1934 Act,  (ii) a copy of the most recent  annual or  quarterly
report of the  Company  and such other  reports  and  documents  so filed by the
Company,  and (iii) such other  information  as may be  reasonably  requested to
permit  the  Investor  to sell  such  securities  pursuant  to Rule 144  without
registration.

                                       8
<PAGE>

        d. take such additional action as is requested by the Investor to enable
the  Investor  to  sell  the  Registerable  Securities  pursuant  to  Rule  144,
including,  without  limitation,  delivering all such legal opinions,  consents,
certificates,  resolutions and  instructions to the Company's  Transfer Agent as
may be requested from time to time by the Investor and otherwise fully cooperate
with Investor and Investor's  broker to effect such sale of securities  pursuant
to Rule 144.

        The Company agrees that damages may be  an  inadequate  remedy  for  any
breach of the terms and  provisions of this Section 8 and that  Investor  shall,
whether or not it is pursuing  any  remedies  at law,  be entitled to  equitable
relief in the form of a preliminary or permanent injunctions,  without having to
post any bond or other  security,  upon any breach or  threatened  breach of any
such terms or provisions.

     9. ASSIGNMENT OF REGISTRATION RIGHTS.
        ---------------------------------

     The Company  shall not assign this  Agreement or any rights or  obligations
hereunder without the prior written consent of the Investor, including by merger
or  consolidation.  The Investor may not assign its rights under this  Agreement
without the written  consent of the  Company,  other than to an affiliate of the
Investor controlled by Steven G. Martin or Joshua B. Scheinfeld.

     10. AMENDMENT OF REGISTRATION RIGHTS.
         --------------------------------

     Provisions of this Agreement may be amended and the observance  thereof may
be waived (either generally or in a particular instance and either retroactively
or  prospectively),  only  with  the  written  consent  of the  Company  and the
Investor.

     11. MISCELLANEOUS.
         -------------

        a. A Person is deemed to be a holder of Registrable Securities  whenever
such Person owns or is deemed to own of record such Registrable  Securities.  If
the Company receives conflicting instructions,  notices or elections from two or
more Persons with respect to the same Registrable Securities,  the Company shall
act upon  the  basis of  instructions,  notice  or  election  received  from the
registered owner of such Registrable Securities.

        b. Any  notices, consents, waivers or other communications  required  or
permitted to be given under the terms of this  Agreement  must be in writing and
will be  deemed  to have  been  delivered:  (i)  upon  receipt,  when  delivered
personally;  (ii) upon receipt, when sent by facsimile (provided confirmation of
transmission is mechanically or electronically generated and kept on file by the
sending  party);  or (iii) one (1) Trading Day after  deposit  with a nationally
recognized  overnight  delivery service,  in each case properly addressed to the
party to  receive  the  same.  The  addresses  and  facsimile  numbers  for such
communications shall be:

     If to the Company:
              Walker Financial Corporation
              990 Stewart Avenue, Suite 60A
              Garden City, NY 11530
              Telephone:     516-832-7000
              Facsimile:     516-832-7979
              Attention:     Chief Executive Officer

                                       9
<PAGE>

     With a copy to:
              Sichenzia, Ross, Friedman Ference LLP
              1065 Avenue of the Americas
              21st Floor New York, New York 10018
              Telephone:     212-930-9700
              Facsimile:     212-930-9725
              Attention:     Greg Sichenzia

     If to the Investor:
              Fusion Capital Fund II, LLC
              222 Merchandise Mart Plaza, Suite 9-112
              Chicago, IL 60654
              Telephone:     312-644-6644
              Facsimile:     312-644-6244
              Attention:     Steven G. Martin

or at such other address and/or facsimile number and/or to the attention of such
other person as the  recipient  party has  specified by written  notice given to
each other  party  three (3)  Trading  Days prior to the  effectiveness  of such
change.  Written  confirmation  of receipt  (A) given by the  recipient  of such
notice,   consent,   waiver  or  other   communication,   (B)   mechanically  or
electronically  generated by the sender's facsimile machine containing the time,
date,  recipient  facsimile  number  and an  image  of the  first  page  of such
transmission  or (C)  provided by a  nationally  recognized  overnight  delivery
service, shall be rebuttable evidence of personal service,  receipt by facsimile
or receipt from a nationally recognized overnight delivery service in accordance
with clause (i), (ii) or (iii) above, respectively.

        c.  Failure of any party to exercise any  right  or  remedy  under  this
Agreement or otherwise,  or delay by a party in exercising such right or remedy,
shall not operate as a waiver thereof.

        d. The corporate laws of the State of Delaware shall govern  all  issues
concerning the relative  rights of the Company and its  stockholders.  All other
questions concerning the construction,  validity, enforcement and interpretation
of this  Agreement  shall  be  governed  by the  internal  laws of the  State of
Illinois,  without  giving  effect  to any  choice  of law  or  conflict  of law
provision or rule (whether of the State of Illinois or any other  jurisdictions)
that would cause the application of the laws of any jurisdictions other than the
State of  Illinois.  Each party  hereby  irrevocably  submits  to the  exclusive
jurisdiction  of the state and federal courts  sitting the City of Chicago,  for
the adjudication of any dispute hereunder or in connection  herewith or with any
transaction  contemplated  hereby or discussed  herein,  and hereby  irrevocably
waives,  and agrees not to assert in any suit,  action or proceeding,  any claim
that it is not personally  subject to the  jurisdiction of any such court,  that
such suit, action or proceeding is brought in an inconvenient  forum or that the
venue of such  suit,  action  or  proceeding  is  improper.  Each  party  hereby
irrevocably  waives  personal  service of process and consents to process  being
served in any such suit,  action or proceeding by mailing a copy thereof to such
party at the address for such notices to it under this Agreement and agrees that
such service shall constitute good and sufficient  service of process and notice
thereof.  Nothing contained herein shall be deemed to limit in any way any right
to serve  process in any  manner  permitted  by law.  If any  provision  of this
Agreement shall be invalid or unenforceable in any jurisdiction, such invalidity
or  unenforceability  shall not affect the  validity  or  enforceability  of the
remainder  of  this   Agreement  in  that   jurisdiction   or  the  validity  or
enforceability  of any  provision of this  Agreement in any other  jurisdiction.
EACH PARTY HEREBY  IRREVOCABLY  WAIVES ANY RIGHT IT MAY HAVE,  AND AGREES NOT TO
REQUEST,  A JURY  TRIAL FOR THE  ADJUDICATION  OF ANY  DISPUTE  HEREUNDER  OR IN
CONNECTION  HEREWITH  OR  ARISING  OUT OF  THIS  AGREEMENT  OR  ANY  TRANSACTION
CONTEMPLATED HEREBY.

                                       10
<PAGE>

        e.  This Agreement, and the Purchase  Agreement  constitute  the  entire
agreement among the parties hereto with respect to the subject matter hereof and
thereof. There are no restrictions,  promises, warranties or undertakings, other
than those set forth or referred to herein and therein.  This  Agreement and the
Purchase Agreement  supersede all prior agreements and understandings  among the
parties hereto with respect to the subject matter hereof and thereof.

        f. Subject to the requirements of Section 9, this Agreement shall  inure
to the benefit of and be binding upon the  permitted  successors  and assigns of
each of the parties hereto.

        g. The headings in this Agreement are for convenience of reference  only
and shall not limit or otherwise affect the meaning hereof.

        h. This Agreement may be executed in  identical  counterparts,  each  of
which shall be deemed an original but all of which shall  constitute one and the
same agreement.  This Agreement,  once executed by a party,  may be delivered to
the other party hereto by  facsimile  transmission  of a copy of this  Agreement
bearing the signature of the party so delivering this Agreement.

        i. Each party shall do and perform, or cause to be done  and  performed,
all such further acts and things,  and shall  execute and deliver all such other
agreements,  certificates,  instruments  and  documents,  as the other party may
reasonably  request in order to carry out the intent and accomplish the purposes
of this Agreement and the consummation of the transactions contemplated hereby.

        j. The language  used in  this  Agreement  will  be  deemed  to  be  the
language  chosen by the parties to express  their mutual  intent and no rules of
strict construction will be applied against any party.

        k. This Agreement is intended for the benefit of the parties hereto  and
their respective  permitted  successors and assigns,  and is not for the benefit
of, nor may any provision hereof be enforced by, any other Person.

                                   * * * * * *

                                       11
<PAGE>

     IN WITNESS  WHEREOF,  the  parties  have caused  this  Registration  Rights
Agreement to be duly executed as of day and year first above written.

                                               THE COMPANY:
                                               -----------

                                               WALKER FINANCIAL CORPORATION

                                               By: /s/ Mitchell Segal
                                                   -----------------------------
                                               Name: Mitchell Segal
                                               Title: President

                                               BUYER:
                                               -----

                                               FUSION CAPITAL FUND II, LLC
                                               BY: FUSION CAPITAL PARTNERS, LLC
                                               BY: ROCKLEDGE CAPITAL CORPORATION

                                               By: /s/ Joshua B. Scheinfeld
                                                   -----------------------------
                                               Name: Joshua B. Scheinfeld
                                               Title: President

                                       12
<PAGE>

                                    EXHIBIT A
                                    ---------

                        TO REGISTRATION RIGHTS AGREEMENT
                        --------------------------------

                         FORM OF NOTICE OF EFFECTIVENESS
                            OF REGISTRATION STATEMENT

[Date]

[TRANSFER AGENT]
___________________
___________________

Re: [__________]

Ladies and Gentlemen:

     We are counsel to WALKER FINANCIAL CORPORATION, a Delaware corporation (the
"Company"),  and have  represented  the Company in connection  with that certain
Common  Stock  Purchase  Agreement,  dated as of  _______,  2004 (the  "Purchase
Agreement"), entered into by and between the Company and Fusion Capital Fund II,
LLC (the  "Buyer")  pursuant  to which the  Company  has  agreed to issue to the
Holder  shares of the  Company's  Common  Stock,  par value $0.10 per share (the
"Common  Stock"),  in an  amount up to Six  Million  Dollars  ($6,000,000)  (the
"Purchase Shares"),  in accordance with the terms of the Purchase Agreement.  In
addition,  pursuant to the Stock Purchase  Agreement,  the Company issued to the
Buyer 794,702 shares of Common Stock (the "Commitment Shares").  Pursuant to the
Purchase  Agreement,  the Company  also has entered into a  Registration  Rights
Agreement,  dated as of ______,  2004, with the Buyer (the "Registration  Rights
Agreement")  pursuant  to which the  Company  agreed,  among  other  things,  to
register  the  Purchase  Shares,  Signing  Shares (as  defined  in the  Purchase
Agreement),  and the  Commitment  Shares under the  Securities  Act of 1933,  as
amended (the "1933 Act"). In connection with the Company's obligations under the
Purchase Agreement and the Registration Rights Agreement,  on _______, 2004, the
Company  filed  a  Registration   Statement   (File  No.   333-_________)   (the
"Registration  Statement")  with the  Securities  and Exchange  Commission  (the
"SEC")  relating to the sale of the Purchase  Shares,  Signing  Shares,  and the
Commitment Shares.

     In connection with the foregoing,  we advise you that a member of the SEC's
staff has advised us by  telephone  that the SEC has entered an order  declaring
the  Registration  Statement  effective  under  the  1933  Act at 5:00  P.M.  on
__________,  200_ and we have no knowledge, after telephonic inquiry of a member
of the SEC's staff,  that any stop order suspending its  effectiveness  has been
issued  or that  any  proceedings  for  that  purpose  are  pending  before,  or
threatened  by,  the  SEC and  the  Purchase  Shares,  Signing  Shares,  and the
Commitment  Shares are  available  for sale under the 1933 Act  pursuant  to the
Registration Statement.

     The  Buyer has  confirmed  it shall  comply  with all  securities  laws and
regulations   applicable  to  it  including   applicable   prospectus   delivery
requirements  upon  sale  of  the  Purchase  Shares,  Signing  Shares,  and  the
Commitment Shares.

                                                 Very truly yours,
                                                 [Company Counsel]
                                                 By:
                                                     ---------------------------
CC: Fusion Capital Fund II, LLC

<PAGE>

                                    EXHIBIT B
                                    ---------

                        TO REGISTRATION RIGHTS AGREEMENT
                        --------------------------------

     Information About The Investor Furnished To The Company By The Investor
         Expressly For Use In Connection With The Registration Statement

As of the date of the Purchase  Agreement,  Fusion  Capital  beneficially  owned
_______  shares of common stock of the  Company.  Steven G. Martin and Joshua B.
Scheinfeld, the principals of Fusion Capital, are deemed to be beneficial owners
of all of the shares of common stock owned by Fusion Capital. Messrs. Martin and
Scheinfeld have shared voting and investment power over the shares being offered
under the  prospectus  filed with the SEC in  connection  with the  transactions
contemplated under the Purchase Agreement.EXHIBIT 10.43

                              EMPLOYMENT AGREEMENT
                              --------------------

     AGREEMENT made as of the 29th day of November, 2004 (the "Effective Date"),
by and between  EDGAR Online,  Inc.  with its principal  office at 50 Washington
Street, Norwalk, Connecticut ("Company"), and Morton Mackof having an address at
407 East 91st Street, New York, NY 10128 ("Employee").

                              W I T N E S S E T H:

     WHEREAS, the Company operates a financial information business; and

     WHEREAS,  the  Company  desires to employ the  Employee as  Executive  Vice
President  of Sales and to be assured of his  services  as such on the terms and
conditions set forth herein; and

     WHEREAS,  the Employee is willing to accept such  employment  on such terms
and conditions.

     NOW, THEREFORE, in consideration of the foregoing and the mutual agreements
hereinafter set forth, the parties agree as follows:

     1. Employment. The Company shall employ the Employee and the Employee shall
serve the Company, upon the terms and conditions hereinafter set forth.

     2.  Term.  The term of the  Employee's  employment  shall  commence  on the
Effective  Date and unless  terminated  earlier or extended  as provided  below,
shall  continue for a period of two years from the Effective  Date (the "Initial
Term").  On each  anniversary date after the expiration of the Initial Term, the
employment  of Employee  shall be renewed and extended for  additional  one year
periods unless either party provides  written notice to the other party,  of his
or its, as the case may be, desire to terminate  this  Agreement at least thirty
(30) days prior to the  renewal  date (such  period,  together  with the Initial
Term, shall be known hereinafter as the "Employment Term").

                                       1
<PAGE>

     3. Duties. During the Employment Term, the Employee shall have such duties,
functions,  authority and responsibilities normally associated with the position
of Executive Vice President of Sales.  During the Employment  Term, the Employee
shall devote his full attention and business time to the business and affairs of
the Company and the Employee will use his best efforts to perform faithfully and
efficiently,  and to discharge the Employee's  responsibilities and duties under
this Agreement. Notwithstanding the foregoing, the Employee may devote such time
to manage his  personal  affairs and to serve on  community,  corporate,  civic,
professional or charitable  boards or committees,  so long as such activities do
not  unreasonably  interfere with the  performance of the Employee's  duties and
responsibilities under this Agreement.

     4.  Compensation and Employee  Benefits.  The Employee's base salary during
the  Employment  Term shall be no less than  $195,000  per year unless  mutually
agreed upon by the parties,  payable in accordance  with the  Company's  payroll
practices  as in effect from time to time.  The  Employee's  base salary will be
reviewed annually by the Company's Board of Directors (the "Board") to determine
whether an increase is warranted or appropriate. The Employee shall also receive
75,000 stock options to purchase the Company's Common Stock at an exercise price
equal to the closing  price of the  Company's  Common Stock on the date that the
Company files a Form 8-K announcing the Employee's  appointment  pursuant to the
terms and  conditions of the Company's 1999 Stock Option Plan. The Employee also
will be entitled to be considered  for awards each year under the Company's then
existing  incentive  bonus program,  which may take into account  individual and
Company-wide  performance,  or such other performance  criteria as the Board may
from time to time apply.

                                       2
<PAGE>

     5. Benefits.  During the Employment Term, the Employee shall have the right
to participate in such health and disability  insurance  plans which the Company
may  provide to its senior  executive  officers  and for which the  Employee  is
eligible (e.g. long term  disability,  life insurance and medical  insurance for
the Employee and his dependents).  During the Employment Term, the Employee will
be entitled  to four weeks of paid  vacation in  accordance  with the  Company's
policy.  Such vacation may be taken in the Employee's  discretion with the prior
approval of the Company,  and at such time or times as are not inconsistent with
the reasonable business needs of the Company.

     6. Business  Expenses.  All  reasonable  travel,  entertainment,  and other
expenses  incident to the performance of the Employee's  duties or the rendering
of  services  incurred  on behalf of the  Company  by the  Employee  during  the
Employment Term shall be paid by the Company.

     7.  Termination.  Notwithstanding  the provisions of Section 2 hereof,  the
Employee's employment with the Company may be earlier terminated as follows:

                                       3
<PAGE>

        (a) By action taken by the Board, the Employee  may  be  discharged  for
cause  (as  defined  below),  effective  as of  such  time  as the  Board  shall
determine.  Upon  discharge of the Employee  pursuant to this Section 7(a),  the
Company shall have no further  obligation or duties to the Employee,  except for
payment of base salary through the effective date of  termination.  The Employee
shall have no further  obligations or duties to the Company,  except as provided
in Section 8.

        (b) In the event of (i) the death of the Employee or (ii) by  action  of
the Board in the event of the inability of the  Employee,  by reason of physical
or mental disability,  to continue substantially to perform his duties hereunder
for an aggregate period of 180 days during the Employment Term, during which 180
day period  salary and any other  benefits  hereunder  shall not be suspended or
diminished. Upon any termination of the Employee's employment under this Section
7(b),  the Company shall have no further  obligations or duties to the Employee,
and the  Employee  shall have no further  obligations  or duties to the Company,
except as provided in Section 8.

        (c) In the event that the Employee's employment  is  terminated  by  the
Company for whatever  reason  (other than pursuant to Items (a) and (b) hereof),
or if the  Company  decides  not to renew the  Agreement  pursuant  to Section 2
hereof,  or if the Company elects not to employ  Employee under any other terms,
the  Company  shall pay to the  Employee,  in  addition  to  accrued  salary and
benefits  payable to the Employee through the date of termination of employment,
a severance  payment equal to the sum of (x) the Employee's then applicable base
salary  and (y) the  average  of the last two year's  cash  bonuses  paid by the
Company to the Employee, if applicable.

                                       4
<PAGE>

        (d) For purposes of this Agreement, the Company shall  have  "cause"  to
terminate the Employee's employment under this Agreement upon (i) the failure by
the Employee to substantially perform his duties under this Agreement except for
those reasons  covered by Section 7(b),  (ii) the  conviction of the Employee in
criminal  misconduct  (including  embezzlement  and  criminal  fraud)  which  is
materially  injurious  to  the  Company,  monetarily  or  otherwise,  (iii)  the
conviction of the Employee of a felony,  or (iv) gross negligence on the part of
the  Employee.  The Company  shall give written  notice to the  Employee,  which
notice shall specify the grounds for the proposed  termination  and the Employee
shall be given thirty (30) days to cure if the grounds  arise under  clauses (i)
or (iv) above.

     8. Confidentiality; Noncompetition; Inventions.

        (a) The Company and the Employee acknowledge that  the  services  to  be
performed by the Employee under this Agreement are unique and extraordinary and,
as a  result  of  such  employment,  the  Employee  will  be  in  possession  of
confidential  information relating to the business practices of the Company. The
term  "confidential  information"  shall mean any and all  information  (oral or
written)  relating  to the  Company  or any of its  affiliates,  or any of their
respective  activities,  other than such  information  which can be shown by the
Employee to be in the public domain (such  information not being deemed to be in

                                       5
<PAGE>

the public  domain  merely  because it is embraced by more  general  information
which is in the  public  domain)  other  than as the  result  of  breach  of the
provisions  of this  Section  8,  including,  but not  limited  to,  information
relating to: trade secrets, proprietary information,  personnel lists, financial
information,  research projects,  services used,  pricing,  customers,  customer
lists and prospects,  product sourcing, marketing and selling and servicing. The
Employee  agrees that he will not,  during his  employment  or subsequent to the
termination of employment, directly or indirectly, use, communicate, disclose or
disseminate  to  any  person,  firm  or  company  any  confidential  information
regarding the clients,  customers or business  practices of the Company acquired
by the Employee  during his  employment  by Company,  without the prior  written
consent of  Company;  provided,  however,  that the  Employee  understands  that
Employee will be prohibited from  misappropriating  any trade secret at any time
during or after the termination of employment.  At no time during the Employment
Term, or thereafter  shall the Employee  directly or  indirectly,  disparage the
commercial, business or financial reputation of the Company.

        (b) In consideration of Company's hiring Employee, the  payment  by  the
Company to the  Employee  as  described  herein and for other good and  valuable
consideration,  the  Employee  hereby  agrees  that he  shall  not,  during  the
Employment  Term and for a period of one (1) year following such employment (the
"Restrictive Period"), directly or indirectly, take any action which constitutes
an  interference  with  or  a  disruption  of  any  of  the  Company's  business
activities.

                                       6
<PAGE>

        (c) For purposes of clarification, but not of limitation,  the  Employee
hereby  acknowledges  and agrees that the provisions of subparagraph  8(b) above
shall serve as a prohibition against him, during the Restrictive Period, from:

        (1) Directly or indirectly,  contacting,  soliciting  or  directing  any
person,  firm, or company to contact or solicit, any of the Company's customers,
prospective  customers,  or  business  partners  for the  purpose  of selling or
attempting to sell, any products and/or services that are the same as or similar
to the products and services provided by the Company to its customers during the
Restrictive Period. In addition,  the Employee will not disclose the identity of
any such business partners,  customers,  or prospective  customers,  or any part
thereof,  to any person,  firm,  company,  association,  or other entity for any
reason or purpose whatsoever; and

        (2) Directly or indirectly,  engaging  or  carrying  on  in  any  manner
(including,  without limitation,  as principal,  shareholder,  partner,  lender,
agent,  employee,  consultant,  or investor (other than a passive  investor with
less than a five  percent  (5%)  interest)  trustee or through the agency of any
company, partnership, limited liability company, or association) in any business
that is in competition with the business of the Company; and

        (3)  Soliciting on his own behalf or on behalf of any other person,  the
services of any person who is an employee of the Company,  and soliciting any of
the Company's employees to terminate employment with the Company.

                                       7
<PAGE>

        (d)  Upon the termination of the Employee's employment  for  any  reason
whatsoever,  all  documents,   records,   notebooks,   equipment,  price  lists,
specifications,  programs,  customer and  prospective  customer  lists and other
materials  which  refer or relate to any aspect of the  business  of the Company
which are in the  possession or under the control of the Employee  including all
copies thereof, shall be promptly returned to the Company.

        (e) Any and all inventions, discoveries, improvements, ideas  and  works
of authorship  (herein referred to as "Intellectual  Property"),  whether or not
patentable,  copyrightable  or  subject  to  other  forms of  protection,  made,
developed,  or created by Employee related to Employee's  employment (whether at
the request or  suggestion  of the  Company or  otherwise,  whether  alone or in
conjunction with others,  and whether during regular hours of work or otherwise)
during the Employment Term shall be the Company's  exclusive property and, after
the termination of Employee's employment,  Employee shall promptly deliver to an
appropriate   representative  of  the  Company  all  electronic  data,  computer
programs,   papers,  drawings,   models  and  other  material  relating  to  any
Intellectual Property made, developed or created by Employee. Employee shall, at
the  request  of the  Company,  whether  during  or after  Employee's  period of
employment,  and  without  pay,  execute a specific  assignment  of title to the
Company and do  anything  else  reasonably  necessary  to protect the  Company's
interests in such  Intellectual  Property and/or to vest in the Company title to
such  Intellectual  Property  anywhere in the world. The expense of securing any
such protection shall be borne by the Company.

                                       8
<PAGE>

        (f) The parties hereto hereby acknowledge and agree that (i) the Company
would be irreparably  injured in the event of a breach by the Employee of any of
his  obligations  under this Section 8, (ii)  monetary  damages  would not be an
adequate remedy for any such breach,  and (iii) the Company shall be entitled to
injunctive  relief,  in addition to any other remedy  which it may have,  in the
event of any such breach. In addition,  the parties agree that the provisions of
this Section 8 shall survive the termination of this Agreement.

        (g) The rights and remedies enumerated in Section 8 shall be independent
of the other,  and shall be  enforceable,  and all of such  rights and  remedies
shall be in  addition  to,  and not in lieu of, any other  rights  and  remedies
available to the Company under law or in equity.

        (h)  If any provision contained  in  this  Section  8  is  found  to  be
unenforceable by reason of the extent,  duration or scope thereof, or otherwise,
then the court  making  such  determination  shall have the right to reduce such
extent,  duration,  scope or other  provision  and in its reduced  form any such
restriction shall thereafter be enforceable as contemplated hereby.

        (i) It is the intent of the parties hereto that the covenants  contained
in this Section 8 shall be enforced to the fullest extent  permissible under the
laws and public  policies of each  jurisdiction  in which  enforcement is sought
(the  Employee  hereby  acknowledging  that  said  restrictions  are  reasonably
necessary for the protection of the Company).  Accordingly,  it is hereby agreed
that if any of the  provisions  of this  Section  8 shall be  adjudicated  to be
invalid or  unenforceable  for any reason  whatsoever,  said provision  shall be
(only with respect to the operation  thereof in the particular  jurisdiction  in
which such  adjudication is made) construed by limiting and reducing it so as to
be enforceable to the extent  permissible,  without  invalidating  the remaining
provisions of this Agreement or affecting the validity or enforceability of said
provision in any other jurisdiction.

                                       9
<PAGE>

     9. Prior  Agreements.  This  Agreement  cancels and  supersedes any and all
prior agreements and  understandings  between the parties hereto  respecting the
employment of Employee by the Company.

     10.  Notices.  All  notices,  requests,  demands  and other  communications
hereunder  shall be in  writing  and shall be  delivered  personally  or sent by
registered  or certified  mail,  return  receipt  requested,  to the other party
hereto at his or its address as set forth in the  beginning  of this  Agreement.
Either  party may change the  address to which  notices,  requests,  demands and
other  communications  hereunder shall be sent by sending written notice of such
change of address to the other party in the manner above provided.

     11.  Assignability  and Binding  Effect.  This Agreement shall inure to the
benefit of and shall be binding upon the executors,  administrators,  successors
and legal  representatives  of Employee and shall inure to the benefit of and be
binding upon the Company and its  successors  and assigns.  The Employee may not
delegate or assign his duties or rights under this Agreement.

                                       10
<PAGE>

     12.  Waiver.  Waiver by either party hereto of any breach or default by the
other  party in respect  of any of the terms and  conditions  of this  Agreement
shall not operate as a waiver of any other breach or default, whether similar to
or different from the breach or default waived.

     13.  Complete  Understanding:  Amendment and  Termination.  This  Agreement
constitutes the complete  understanding  between the parties with respect to the
employment of Employee hereunder and no statement,  representation,  warranty or
covenant has been made by either party with respect  thereto except as expressly
set forth herein.  This  Agreement  shall not be altered,  modified,  amended or
terminated  except by written  instrument  signed by each of the parties  hereto
provided, however, that the waiver by either party hereto of compliance with any
provision  hereof or of any breach or default by the other party  hereto need be
signed only by the party waiving such provision, breach or default.

     14.  Counterparts.  This  Agreement  may  be  executed  in  any  number  of
counterparts, each of which shall be an original but all of which taken together
shall constitute one and the same Agreement.

     15.  Governing  Law. This  Agreement  shall be governed by and construed in
accordance with the laws of the State of Connecticut.

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

     EDGAR ONLINE, INC.

     By: /s/ Susan Strausberg
             ----------------
     Its: Chief Executive Officer and President
     Date: November 29, 2004

     /s/ Morton Mackof
         -------------
     Morton Mackof
     Date: November 29, 2004

                                       11

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