Document:

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                                                                   EXHIBIT 10.22

                              EMPLOYMENT AGREEMENT

     THIS EMPLOYMENT AGREEMENT (this "Agreement") is entered into as of March
                                      ---------
11, 2002 between L90, Inc., a Delaware corporation (the "Company"), and Mitchell
                                                         -------
Cannold (the "Employee").
              --------

                                  R E C I T A L

     The Company desires to employ the Employee, and the Employee desires to be
so employed by the Company, on the terms and subject to the conditions set forth
in this Agreement.

                                    AGREEMENT

     NOW, THEREFORE, in consideration of the premises and the mutual promises
set forth in this Agreement, the Company and the Employee hereby agree as
follows:

     1.   Employment.
          ----------

     (a)  Subject to the terms and conditions contained herein, the Company
          hereby agrees to employ the Employee, and the Employee accepts such
          employment, from the date hereof until the earlier of (i) the date
          which is one year from the date hereof, provided that such initial
          term shall be automatically renewed for two successive one-year terms
          unless either party hereto otherwise notifies the other in writing
          within 90 days prior to the end of such initial term or any such
          successive term, or (ii) the date such employment is terminated
          pursuant to Section 4 of this Agreement. During the Employee's
          employment under this Agreement, the Employee shall perform such
          duties for the Company consistent with his position as President and
          CEO as may from time to time be assigned to the Employee by the Board
          of Directors of the Company (the "Board") and Employee shall report to
                                            -----
          the Board. The Employee shall have the title of President and Chief
          Executive Officer and such other title or titles, if any, as from time
          to time may be assigned to the Employee by the Board.

     (b)  The Employee will devote substantially all his business time, energy,
          attention and skill to the services of the Company and its affiliates
          and to the promotion of their interests. So long as the Employee is
          employed by the Company, the Employee shall not, without the written
          consent of the Company:

          (i)       engage in any other activity for compensation, profit or
               other pecuniary advantage, whether received during or after the
               term of this Agreement;

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                    (ii) render or perform services of a business, professional,
               or commercial nature other than to or for the Company, either
               alone or as an employee, consultant, director, officer, or
               partner of another business entity, whether or not for
               compensation, and whether or not such activity, occupation or
               endeavor is similar to, competitive with, or adverse to the
               business or welfare of the Company; or

                    (iii) invest in or become a shareholder of another
               corporation or other entity; provided, that the Employee's
               investment solely as a shareholder in another corporation shall
               not be prohibited hereby so long as such investment is not in
               excess of one percent (1%) of any class of shares that are traded
               on a national securities exchange;

provided, however, that the Employee shall not be precluded from (1)
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participating in, or rendering services to, family-owned enterprises, charitable
organizations or the like for which the Employee is not compensated on a
monetary basis (other than dividends generally paid to equity holders of such
entities) or (2) serving on the board(s) of directors of non-competitive
businesses.

     (c)  Prior to or concurrently with the execution of this Agreement, the
          Employee has executed an Employee Proprietary Information, Trade
          Secret and Confidentiality Agreement (the "Confidentiality
                                                     ---------------
          Agreement").
          ---------

     2.   Location of Employment. The Employee's principal place of employment
          ----------------------
shall be at the executive offices of the Company located at New York, New York,
or, as may be requested by the Board, at any other office of the Company or any
of its affiliates currently or hereinafter located in the metropolitan New York
City area; provided, that at the direction of the Board, the Employee may from
time to time be required to travel to various domestic and foreign locations.
The Company shall provide the Employee with one full-time dedicated
administrative assistant during the term hereof.

     3.   Compensation.
          ------------

     (a)  In exchange for performance of the Employee's obligations and duties
          under this Agreement, the Company shall pay the Employee a base salary
          at an annual rate of $480,000.00, payable in accordance with the
          Company's standard payroll practices, but not less frequently than
          monthly. In any payment period in which the Employee shall be employed
          for less than the entire number of days in such payment period, the
          salary payable under Section 3(a) shall be prorated on the basis of
          the number of days during which the Employee was actually employed
          divided by the number of days in such payment period. The base salary
          provided for in Section 3(a) shall be reviewed not less frequently
          than

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          annually by the Board, or a committee thereof, and may be adjusted in
          their discretion, provided, however, that in no event, without the
          Employee's consent, shall such base salary be increased by an amount
          that is lower than four (4%) per cent of the base salary of the
          immediately preceding year during the term of Employee's employment
          with the Company and in no event shall the Employee's base salary (as
          increased from time to time) be decreased at any point during the term
          of this Agreement. In the event the Employee's salary is decreased,
          the Employee shall have the right to terminate this Agreement.

     (b)  Each year during the term of this Agreement, Employee shall receive a
          bonus (the "Bonus") based on the comparison between (x) the
                      -----
          projections of the Company's operating results, either net loss or net
          income, as the case may be, contained in the Company's business plan
          for such year as approved by the Board (the "Projections") and (y) the
                                                       -----------
          audited financial statements for that year, which shall be conclusive
          (the "Financials"). The Bonus shall be equal to either: (i) if the
                ----------
          Projections project a net loss for such fiscal year, $50,000.00 for
          each full $1,000,000.00 in reduced net losses as reflected in the
          Financials as compared to net losses contained in the Projections,
          plus $50,000.00 for each full $1,000,000.00 in net income reflected in
          the Financials, or (ii) if the Projections project net income for such
          year, $50,000.00 for each full $1,000,000.00 in increased net income
          contained in the Financials as compared to net income contained in the
          Projections. In the event the Company acquires or disposes of any
          business in any year during the term of this Agreement, the Company
          and the employee shall negotiate in good faith to take into account
          such acquisition or disposition and determine the appropriate
          allocation for (i) the reduction in operating losses of any disposed
          business that should be credited to the Employee under the Bonus
          formula and (ii) the increase in earnings from any acquired business
          which should be credited to the Employee under the Bonus formula in
          determining if the Employee has met or surpassed the Projections. The
          Bonus, if any, shall be paid to the Employee no later than 30 days
          following completion by the Company of the Financials for each year.

     (c)  The base salary described in subsection (a) hereof and the bonus
          described in subsection (b) hereof are gross amounts, and the Company
          shall be required to withhold from such amounts deductions with
          respect to Federal, state and local taxes, FICA, unemployment
          compensation taxes and similar taxes, assessments or withholding
          requirements.

     (d)  On or about the commencement of the Employee's employment pursuant to
          this Agreement, and on each of the first and second anniversary
          thereof, the Company shall grant the Employee a stock option pursuant
          to the

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          Company's stock option plan to purchase 500,000 shares of the
          Company's common stock with an exercise price equal to the fair market
          value on the date of grant. Each such option shall vest in one-third
          (1/3) increments on the first, second and third anniversaries of the
          date of grant, so long as the Employee then remains a full-time
          employee of the Company, provided, however, that in the event of a
                                   --------  -------
          Change of Control (as defined below), the next annual increment of
          unvested options shall immediately vest and become exercisable upon
          the effective date of such Change of Control. Each such option shall
          be an incentive stock option to the extent permitted by law, with the
          balance being granted as a non-qualified stock option. Each such
          option shall be subject to all terms of the Company's stock option
          plan and the option agreements between the Employee and the Company
          evidencing such option. The number of shares of the Company's common
          stock to be purchased pursuant to each of the options to be granted on
          the first and second anniversary of the date hereof shall be reviewed
          by the Board, or a committee thereof, and may be adjusted in their
          discretion, provided, however, that in no event shall such number be
                      --------  -------
          reduced below 500,0000. For purposes of this Agreement, a "Change of
                                                                     ---------
          Control" shall mean: (i) the acquisition by any person, entity or
          -------
          group (within the meaning of Section 13(d)(3) of the Securities
          Exchange Act of 1934, as amended (the "Exchange Act")) after the date
                                                 ------------
          hereof of the beneficial ownership of more than fifty percent (50%) of
          the total combined voting power of all outstanding securities of the
          Company; (ii) a merger or consolidation in which the Company is not
          the surviving entity, except for a transaction in which the
          stockholders of the Company immediately prior to such merger or
          consolidation hold, in the aggregate, securities possessing more than
          fifty percent (50%) of the total combined voting power of all
          outstanding voting securities of the surviving entity immediately
          after such merger or consolidation; (iii) a reverse merger in which
          the Company is the surviving entity but in which securities possessing
          more than fifty percent (50%) of the total combined voting power of
          all outstanding voting securities of the Company are transferred to or
          acquired by a person or entity different from the persons or entities
          holding those securities immediately prior to such merger; (iv) the
          sale, transfer or other disposition (in one transaction or a series of
          related transactions) of all or substantially all of the assets of the
          Company; or (v) a change in the composition of the Board which is the
          direct result of a proxy solicitation and contest pursuant to the
          Exchange Act such that the members of the Board immediately prior to
          the commencement of such solicitation and contest no longer constitute
          a majority of the Board after the conclusion of such solicitation and
          contest.

     (e)  During the Employee's employment under this Agreement, the Employee
          shall also be reimbursed by the Company for reasonable business

<PAGE>

     expenses, including entertainment, travel and parking, actually incurred or
     paid by the Employee, consistent with the policies established by the
     Board, in rendering to the Company the services provided for in this
     Agreement, upon presentation of expense statements or such other supporting
     information as is consistent with the policies of the Company. The Employee
     at all times shall be entitled to travel in business class seating when the
     Employee travels by air in connection with the Company's business and to
     private car service when required to travel in connection with the
     Company's business, including attending business meetings, or working or
     attending functions outside of normal business hours or on weekends or
     holidays.

(f)  The Company shall reimburse to the Employee during the term of this
     Agreement: (i) on a monthly basis, the gross amount of $780.00 in
     connection with the Employee's acquisition and maintenance of an automobile
     suitable for the Employee's use in connection with the Company's business;
     (ii) on an annual basis, the gross amount of $2,500.00 in connection with
     the Employee's membership, for his personal use, in one health club; (iii)
     on a one time basis, $2,500.00 in connection with the Employee's purchase
     of a personal computer, a dedicated phone line in the Employee's home for
     the use of such personal computer, a cellular telephone and a Blackberry
     personal digital assistant; and (iv) on a periodic basis, the reasonable
     maintenance costs of the items set forth in subsection (iii) hereof.

(g)  The Employee shall be entitled to 15 business days vacation for each full
     year of employment under this Agreement, which vacation time will accrue in
     accordance with the vacation policy of the Company.

(h)  The Employee shall be entitled to participate in all benefit plans
     (including deferred compensation plans and any medical, dental or life
     insurance plans) which shall be available from time to time to the domestic
     management employees of the Company generally, except to the extent such
     participation in any plan would, in the opinion of the Board, alter the
     intended tax treatment of such plan; provided, however, that the Employee
                                          --------  -------
     shall have no right under this Agreement, except as set forth in Section
     3(d) hereof, to participate in any stock option, stock purchase or other
     plan relating to shares of capital stock of the Company or its affiliates,
     which participation, if any, shall be governed by separate agreement. The
     Employee acknowledges and agrees that the Board may in its discretion
     terminate at any time or modify from time to time any such benefit plans.

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     (i)  Other than as expressly set forth in this Section 3, the Employee
          shall not receive any other compensation or benefits except to the
          extent determined by the Board.

     4.   Termination.
          -----------

     (a)  The employment of the Employee under this Agreement may be terminated
          by the Company upon giving the Employee notice if the Employee has
          been unable to substantially discharge his essential job duties by
          reason of illness or injury for either (A) a period of two consecutive
          months or (B) twelve weeks in any twelve-month period. A termination
          of the Employee's employment by the Company pursuant to this Section
          4(a) shall be communicated to the Employee by written notice and shall
          be effective on the tenth (10) day after receipt of such notice by the
          Employee.

     (b)  The employment of the Employee under this Agreement shall terminate on
          the date of the Employee's death.

     (c)  The employment of the Employee under this Agreement may be terminated
          by the Company for cause. The Company may terminate the Employee for
          cause only after a Cause Event (as hereinafter defined) has occurred.
          If a Cause Event occurs, the Board of Directors shall have promptly
          thereafter provided Employee, in writing and in reasonable detail, the
          facts and circumstances giving rise to its determination that a Cause
          Event has occurred (each, a "Cause Notice"), and, with respect to any
                                       ------------
          Cause Event other than that specified in clauses (iv), (v) or (viii)
          in the definition of Cause Event below, shall have provided Employee
          in such Cause Notice a suggested course of action to cure such
          default, and with a cure period (if capable of cure) of not less than
          thirty (30) days. As used herein, a "Cause Event" shall mean the
                                               -----------
          following circumstances: (i) repeated refusal or failure to perform
          any duties assigned to the Employee by the Board as are appropriate to
          be performed by CEO or President and are commensurate with such title
          and position, (ii) committed a breach of the terms of this Agreement
          or any other legal obligation to the Company, (iii) failed to perform
          any of the Employee's material obligations under the Confidentiality
          Agreement, (iv) demonstrated gross negligence or willful misconduct in
          the execution of the Employee's assigned duties, (v) been convicted of
          or pleaded nolo contendere to (a) a felony or (b) any other serious
          crime involving fraud, dishonesty, theft, misappropriation or
          embezzlement or which, in the reasonable business judgment of the
          Board, results in a material adverse effect on the Company, (vi)
          continual use of illegal drugs or of alcohol where such use of alcohol
          interferes with the performance of Employee's

<PAGE>

     duties under this Agreement, (vii) engaged in business practices which, in
     the opinion of the Board, are unethical or reflect materially adversely on
     the Company, (viii) misappropriated assets of the Company or (ix) been
     repeatedly absent from work during normal business hours for reasons other
     than disability or vacation.

(d)  The employment of the Employee under this Agreement shall terminate upon
     receipt by the Board of a written notice of resignation signed by the
     Employee or, if no notice is given, on the date on which the Employee
     voluntarily terminates his employment relationship with the Company.

(e)  Within six months following the effective date of a Change of Control, the
     employment of the Employee under this Agreement may be terminated by the
     Employee upon delivery by the Employee to the Board of a written notice of
     termination signed by the Employee stating that Employee is terminating his
     employment hereunder as a result of such Change of Control, if and only to
     the extent that, following such Change of Control, any of the following
     occurs without Employee's consent: (i) Employee's job title or
     responsibilities are materially reduced, or (ii) Employee's base salary
     then in effect is reduced.

(f)  In addition to the circumstances described in subsections (a), (b), (c),
     (d) and (e) above, the Company may terminate the Employee's employment for
     any reason or no reason and with or without cause or prior notice. The
     Employee understands that, subject to subsection (g)(iii) below, he is an
     at-will employee and may be terminated by the Company without cause or
     prior notice pursuant to this subsection (f) notwithstanding any other
     provision contained in this Agreement. This at-will relationship will
     remain in effect during the term of this Agreement and so long thereafter
     provided that the Employee remains employed by the Company, unless such
     at-will employment relationship is modified by a specific, express written
     agreement signed by the Company.

(g)  If the Employee's employment is terminated pursuant to this Section 4 or
     for any other reason, the Employee shall not be entitled to any
     compensation or benefits from the Company, under Section 3 of this
     Agreement or otherwise, except for the following:

     (i)  base salary and vacation pay accrued, and reasonable business expenses
          incurred, under Section 3 of this Agreement through the date of such
          termination;

     (ii) such benefits, if any, as may be required to be provided by the
          Company under the Comprehensive Omnibus Budget Reconciliation Act
          (COBRA) or as required by under the terms of

<PAGE>

                any death, insurance or retirement plan, program or agreement
                provided by the Company and to which the Employee is a party or
                in which the Employee is a participant, including, but not
                limited to, any short-term or long-term disability plan or
                program, if applicable; and

          (iii) if the Employee's employment is terminated without cause
                pursuant to subsection (f) above or by the Employee pursuant to
                subsection (e) above, the Company shall continue to pay to the
                Employee the base salary described in Section 3(a)(i)above until
                the earlier to occur of (i) one (1) year from the date of
                termination, or (ii) the third anniversary of the date of this
                Agreement. In the event of termination of Employee's employment
                hereunder, Employee shall be under no obligation to seek other
                employment and there shall be no offset against any amounts due
                to Employee under this Agreement on account of any renumeration
                attributable to any subsequent employment that Employee may
                obtain.

     5.   Employee's Representations.
          --------------------------

     (a)  The Employee represents that he has full authority to enter into this
          Agreement and that he is free to enter into this Agreement and not
          under any contractual restraint which would prohibit the Employee from
          satisfactorily performing his duties to the Company under this
          Agreement.

     (b)  The Employee acknowledges that he is free to seek advice from
          independent counsel with respect to this Agreement. The Employee has
          either obtained such advice or, after carefully reviewing this
          Agreement, has decided to forego such advice. The Employee is not
          relying on any representation or advice from the Company or any of its
          officers, directors, attorneys or other representatives regarding this
          Agreement, its content or effect.

     6.   Arbitration. Any controversy or claim arising out of or relating to
          -----------
this Agreement or any breach hereof or the Employee's employment by the Company
or termination thereof, shall be settled by arbitration by one arbitrator in
accordance with the rules of the American Arbitration Association, and judgment
upon such award rendered by the arbitrator may be entered in any court having
jurisdiction thereof. The arbitration shall be held in the City of New York or
such other place as may be agreed upon at the time by the parties to the
arbitration.

     7.   Equitable Relief. The Employee acknowledges that the Company is
          ----------------
relying for its protection upon the existence and validity of the provisions of
this Agreement, that the services to be rendered by the Employee are of a
special, unique and extraordinary character, and that irreparable injury will
result to the Company from any

<PAGE>

violation or continuing violation of the provisions of this Agreement for which
damages may not be an adequate remedy. Accordingly, the Employee hereby agrees
that in addition to the remedies available to the Company by law or under this
Agreement, the Company shall be entitled to obtain such equitable relief as may
be permitted by law in a court of competent jurisdiction including, without
limitation, injunctive relief from any violation or continuing violation by the
Employee of any term or provision of this Agreement.

     8. Governing Law. This Agreement shall be governed by and construed and
        -------------
enforced in accordance with the internal substantive laws (without regard to
choice of law principles) of the State of New York.

     9. Entire Agreement. This Agreement constitutes the whole agreement of the
        ----------------
parties hereto in reference to any employment of the Employee by the Company and
in reference to any of the matters or things herein provided for or hereinabove
discussed or mentioned in reference to such employment; all prior agreements,
promises, representations and understandings relative thereto being herein
merged.

     10.  Assignability.
          -------------

     (a)  In the event the Company shall merge or consolidate with any other
          corporation, partnership or business entity, or all or substantially
          all of the Company's business or assets shall be transferred in any
          manner to any other corporation, partnership or business entity, then
          such successor to the Company shall thereupon succeed to, and be
          subject to, all rights, interests, duties and obligations of, and
          shall thereafter be deemed for all purposes hereof to be, the
          "Company" under this Agreement.

     (b)  This Agreement is personal in nature and the Employee shall not,
          without the written consent of the Company, assign or transfer this
          Agreement or any rights or obligations hereunder.

     (c)  Except as set forth in subsection (a) above, nothing expressed or
          implied in this Agreement is intended or shall be construed to confer
          upon or give to any person, other than the parties to this Agreement,
          any right, remedy or claim under or by reason of this Agreement or of
          any term, covenant or condition of this Agreement.

     11.  Amendments; Waivers. This Agreement may be amended, modified,
          -------------------
superseded, canceled, renewed or extended and the terms or covenants of this
Agreement may be waived only by a written instrument executed by the parties to
this Agreement or, in the case of a waiver, by the party waiving compliance. Any
such written instrument must be approved by the Board to be effective as against
the Company. The failure of any party at any time or times to require
performance of any provision of this Agreement shall in no manner affect the
right at a later time to enforce the same. No waiver by any

<PAGE>

party of the breach of any term or provision contained in this Agreement,
whether by conduct or otherwise, in any one or more instances, shall be deemed
to be, or construed as, a further or continuing waiver of any such breach, or a
waiver of the breach of any other term or covenant contained in this Agreement.

     12.  Notice. All notices, requests or consents required or permitted under
          ------
this Agreement shall be made in writing and shall be given to the other party by
personal delivery, overnight air courier (with receipt signature) or facsimile
transmission (with "answerback" confirmation of transmission), if to the
Company, sent to such party's addresses or telecopy number as are set forth
below such party's signature to this Agreement, and if to the Employee, to his
address as set forth in the records of the Company, with a copy to Frankfurt,
Garbus, Kurnit, Klein and Selz, A.P.C., 488 Madison Avenue, New York, NY 10022
attn: Gary Schonwald, Esq., or such other addresses or telecopy numbers of which
the parties have given notice pursuant to this Section 12. Each such notice,
request or consent shall be deemed effective upon the date of actual receipt,
receipt signature or confirmation of transmission, as applicable.

     13.  Severability. Any provision of this Agreement that is prohibited or
          ------------
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction.

     14.  Survival. The representations and agreements of the Employee set forth
          --------
in Sections 5, 6 and 7 of this Agreement shall survive the expiration or
termination of this Agreement (irrespective of the reason for such expiration of
termination).

     15.  Attorney's Fees. If any party to this Agreement seeks to enforce his
          ---------------
or its rights under this Agreement, the prevailing party shall be entitled to
recover reasonable fees, costs and expenses incurred in connection therewith
including, without limitation, the fees, costs and expenses of attorneys,
accountants and experts, whether or not litigation is instituted, and including
such fees, costs and expenses of appeals.

                            [Signature Page Follows]

<PAGE>

                    [Signature Page to Employment Agreement]

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

                                          L90, INC.,
                                          a Delaware corporation

                                          By  /s/ William Apfelbaum
                                             --------------------------------
                                          An Authorized Officer

                                          Address for Notices:

                                          4499 Glencoe Avenue
                                          Marina del Rey, California  90292
                                          Attention:  Chairman of the Board
                                          Telecopy: (310) 578-9942

                                          EMPLOYEE:

                                           /s/ Mitchell Cannold
                                          -----------------------------------
                                          Mitchell Cannold<PAGE>
                                                                   EXHIBIT 10.23

                              CONSULTING AGREEMENT

     THIS CONSULTING AGREEMENT is entered into as of March ___, 2002 by and
between L90, INC., a Delaware corporation (the "Corporation"), and LOS ALTOS
                                                -----------
GROUP, INC. (the "Consultant").
                  ----------

                                 R E C I T A L S
                                 - - - - - - - -

     A. Corporation is currently engaged in the business of providing marketing
and sales services.

     B. Consultant provides management consulting services.

     C. Corporation desires to have Consultant render consultation and services
to it in connection with its current and future businesses (the "Business"), and
                                                                 --------
Consultant desires to render such consultation and services to Corporation.

     D. Corporation desires to retain and engage Consultant as a consultant, and
Consultant is desirous of rendering consulting services to Corporation, all upon
the terms and conditions set forth herein.

     NOW, THEREFORE, in consideration of the premises and the covenants of the
parties contained herein, the parties hereto agree as follows:

     1. Engagement. Corporation hereby engages Consultant and Consultant hereby
        ----------
agrees to perform consulting services to Corporation upon the terms and
conditions provided herein below. Consultant is and shall be an independent
contractor which, subject to the terms hereof, shall have sole control of the
manner and means of performing its obligations under this Agreement. Except as
provided for in other agreements between Consultant and Corporation, Consultant
shall not have, nor shall Consultant claim, suggest or imply that Consultant
has, any right, power or authority to enter into any contract or obligation on
behalf of, or binding upon, Corporation or any of its representatives.
Consultant shall pay, when and as due, any and all taxes as a result of
Consultant's receipt of compensation pursuant to this Agreement, including
estimated taxes, and shall provide Corporation with proof of such payments upon
Corporation's request. Consultant shall be responsible for providing, at
Consultant's expense and in Consultant's name, such disability, worker's
compensation and other insurance as is necessary or appropriate for Consultant
to provide the services hereunder.

     2. Term. The term of this Consulting Agreement shall commence on the date
        ----
hereof and shall continue until terminated as provided in Paragraph 8 below.
Nothing provided herein, however, shall be construed to obligate Corporation to
any commitments or compensation beyond that provided for during such term.

<PAGE>

     3. Compensation. Subject to the provisions of Paragraph 8, in consideration
        ------------
of Consultant's obligations hereunder, Corporation agrees to pay to Consultant a
monthly fee equal to $16,000 (the "Consulting Fee"), such fee to be paid in
                                   --------------
semi-monthly installments of $8,000. In any month in which Consultant shall be
engaged for less than the entire number of days in such month, the compensation
payable under this Section 3 shall be prorated on the basis of the number of
days during which Consultant was actually engaged by Corporation divided by the
number of days in such month.

     4. Expenses. Corporation will reimburse Consultant for all expenses that
        --------
are approved in advance by an officer of Corporation as reasonably incurred by
Consultant in connection with the performance of its duties hereunder, upon the
presentation by Consultant, from time to time, of itemized accounts of such
expenditures.

     5. Duties and Responsibilities. During the term of this Consulting
        ---------------------------
Agreement, Consultant shall devote such time and effort to the Business and
render such advice and counsel and perform such services not inconsistent with
its position as are, from time to time, assigned to it by Corporation. Without
limiting the foregoing, Consultant hereby agrees:

     (a) to be available to Corporation to render such advice and consultation
as Corporation may deem reasonable and necessary in connection with the
Business; and

     (b) to deliver to Corporation upon termination or expiration of this
Consulting Agreement for any reason, all documents, materials, working papers
and data of any nature pertaining to Consultant's work with Corporation and not
take with it any documents, materials, working papers and data of any nature
pertaining to Consultant's work with Corporation or pertaining to any Business
Proprietary Information (as defined below).

     6. Working Facilities. Corporation shall furnish Consultant with office
        ------------------
and/or work space and such other facilities, supplies and services as are deemed
appropriate by Corporation to be necessary for the performance of Consultant's
duties hereunder.

     7. Confidentiality and Proprietary Information.
        -------------------------------------------

     (a) Consultant understands that (i) in connection with its engagement by
Corporation it will be privy to and has and will continue to assist in the
development of new information and inventions of value to Corporation, (ii) that
it is expected to render advise and counsel to Corporation and/or its designees
with respect to the Business, and to communicate freely with Corporation and its
designees regarding the Business in a relationship of confidence and trust, and
(iii) Corporation possesses and

<PAGE>

will accumulate, in part as a result of Consultant's activities in the Business
and the activities of its staff and others employed or engaged by it,
significant "Business Proprietary Information" (defined herein to include, but
not be limited to trade secrets, processes, formulas, data, know-how,
discoveries, inventions, improvements, techniques, marketing plans, forecasts
and any other information developed by or on behalf of Corporation that is not
in the public domain or owned by others).

     (b) Consultant hereby agrees that all Business Proprietary Information
shall be the sole property of Corporation and its successors and assigns, and
Corporation and its successors and assigns shall be the sole and exclusive owner
of all patents, copyrights, trademarks, trade secrets, trade names and other
rights relating to all such Business Proprietary Information. In furtherance of
the foregoing, Consultant hereby assigns to Corporation any rights that it may
have or acquire in such Business Proprietary Information.

     (c) At all times, both during the period of its engagement by Corporation
and after termination of such engagement, Consultant shall keep in strict
confidence and trust all Business Proprietary Information, and not use or
disclose any Business Proprietary Information in any way related to Corporation,
its engagement by Corporation, or any research and development activities now or
hereafter engaged in or undertaken by Corporation, without the express prior
written consent of Corporation, except as may be necessary in the ordinary
course of performing its duties as a Consultant to Corporation. The obligations
of Consultant under this Paragraph 7(c) shall survive the termination or
expiration of this Consulting Agreement for a period of five years after said
termination or expiration date.

     (d) Consultant hereby represents and warrants to Corporation that its
performance of all of the terms of this Consulting Agreement do not and will not
breach any agreement to keep in confidence proprietary information acquired by
Consultant in confidence or in trust. Consultant has not entered into, and
hereby agrees not to enter into, any agreement, either written or oral, in
conflict with this Consulting Agreement without the prior written consent of
Corporation.

     (e) Consultant acknowledges and agrees that upon a breach of any of the
provisions set forth in Paragraph 7 hereof, Corporation shall be entitled to
injunctive relief as a remedy at law would be inadequate and insufficient.
Nothing in this Paragraph 7 shall be construed as limiting in any way
Corporation's right to recover such damages as it can show it has sustained by
reason of such breach.

     8. Early Termination. This Consulting Agreement may be terminated at any
        -----------------
time by Corporation or Consultant in its sole discretion upon
at least 30 days prior written notice to the other party.

     9. Arbitration and Choice of Law. Any controversy or claim arising out of,
        -----------------------------
or relating to this Consulting Agreement, or the breach thereof, shall be
settled by

<PAGE>

arbitration in Los Angeles, California, in accordance with the rules of the
American Arbitration Association then obtaining, and judgment upon any award so
rendered may be entered into any court having jurisdiction thereof. This
Agreement shall be governed by and construed and interpreted in accordance with
the laws of the State of California, without regard to that state's conflicts of
laws principles.

     10. Notices. Any notice or other communication required or permitted to be
         -------
transmitted under this Consulting Agreement shall be in writing, and personally
delivered or mailed, return receipt requested, postage prepaid, addressed to the
parties hereto at their addresses indicated below, or at such other addresses as
may be hereafter designated by a party by a notice delivered in accordance
herewith.

     11. Waiver of Breach. The waiver of Corporation of a breach of any
         ----------------
provision of this Consulting Agreement by Consultant shall not operate or be
construed as a waiver of any subsequent breach by Consultant.

     12. Assignment. The rights and obligations of Corporation under this
         ----------
Consulting Agreement shall inure to the benefit of and shall be binding upon
Corporation and its successors and assigns. The ownership and confidentiality
provisions of this Consulting Agreement shall be binding upon Consultant and its
successors and assigns. Consultant may not assign, transfer or delegate its
rights or obligations hereunder and any attempt to do so shall be void.

     13. Entire Agreement and Severability. This instrument contains the entire
         ---------------------------------
agreement between the parties with respect to the subject matter hereof. It may
not be changed orally but only by agreement in writing signed by the party
against whom enforcement of any waiver, change, modification or discharge is
sought. If any provision of this Agreement, or the application of such provision
to any person or circumstance, shall be held by a court of competent
jurisdiction to be invalid or unenforceable, the remainder of this Agreement, or
the application of such provision to persons or circumstances other than those
to which it is held to be invalid or unenforceable, shall not be affected
thereby.

                  [Remainder of Page Intentionally Left Blank]

<PAGE>

     IN WITNESS WHEREOF, this Consulting Agreement is executed the day and year
first written above.

                             CORPORATION:

                             L90, INC.,
                             a Delaware corporation

                             By: /s/ Mitchell Cannold
                                -----------------------------
                             Name: Mitchell Cannold
                                  ---------------------------
                             Title: President and CEO
                                   --------------------------

                             Address:
                             4499 Glencoe Avenue
                             Marina del Rey, California 90292
                             Facsimile: (310) 578-9942
                             Attention: President

                             CONSULTANT:

                             LOS ALTOS GROUP, INC.

                             By: /s/ Peter Sealey
                                -----------------------------
                             Name: Peter Sealey
                             Title: _________________________
                             Address:
                             P.O. Box 1360
                             Los Altos, California 94023-1360
                             Facsimile: (650) 947-9438

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