Document:

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                                                                    EXHIBIT 10.1

                              STORAGENETWORKS, INC.

                 AMENDED AND RESTATED 1998 STOCK INCENTIVE PLAN
                 ----------------------------------------------
                       As Amended through January 26, 2000

1.   Purpose
     -------

     The purpose of this Amended and Restated 1998 Stock Incentive Plan (the
"Plan") of StorageNetworks, Inc., a Delaware corporation (the "Company"), is to
advance the interests of the Company's stockholders by enhancing the Company's
ability to attract, retain and motivate persons who make (or are expected to
make) important contributions to the Company by providing such persons with
equity ownership opportunities and performance-based incentives and thereby
better aligning the interests of such persons with those of the Company's
stockholders. Except where the context otherwise requires, the term "Company"
shall include any of the Company's present or future subsidiary corporations as
defined in Section 424(f) of the Internal Revenue Code of 1986, as amended, and
any regulations promulgated thereunder (the "Code") and any other business
venture (including, without limitation, joint venture or limited liability
company) in which the Company has a significant interest, as determined by the
Board of Directors of the Company (the "Board"). The Plan amends and restates
the provisions of the 1998 Stock Option Plan (the "1998 Plan"), which was
initially adopted by the Board of Directors on November 27, 1998. The Plan is
intended to cover all stock options granted under the 1998 Plan.

2.   Eligibility
     -----------

     All of the Company's employees, officers, directors, consultants and
advisors (and any individuals who have accepted an offer for employment) are
eligible to be granted options, restricted stock awards, or other stock-based
awards (each, an "Award") under the Plan. Each person who has been granted an
Award under the Plan shall be deemed a "Participant".

3.   Administration, Delegation
     --------------------------

     (a) Administration by Board of Directors. The Plan will be administered by
         ------------------------------------
the Board. The Board shall have authority to grant Awards and to adopt, amend
and repeal such administrative rules, guidelines and practices relating to the
Plan as it shall deem advisable. The Board may correct any defect, supply any
omission or reconcile any inconsistency in the Plan or any Award in the manner
and to the extent it shall deem expedient to carry the Plan into effect and it
shall be the sole and final judge of such expediency. All decisions by the Board
shall be made in the Board's sole discretion and shall be final and binding on
all persons having or claiming any interest in the Plan or in any Award. No
director or person acting pursuant to the authority delegated by the Board shall
be liable for any action or determination relating to or under the Plan made in
good faith.

                                      -1-
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     (b) Delegation to Executive Officers. To the extent permitted by applicable
         --------------------------------
law, the Board may delegate to one or more executive officers of the Company the
power to make Awards and exercise such other powers under the Plan as the Board
may determine, provided that the Board shall fix the maximum number of shares
subject to Awards and the maximum number of shares for any one Participant to be
made by such executive officers.

     (c) Appointment of Committees. To the extent permitted by applicable law,
         -------------------------
the Board may delegate any or all of its powers under the Plan to one or more
committees or subcommittees of the Board (a "Committee"). All references in the
Plan to the "Board" shall mean the Board or a Committee of the Board or the
executive officer referred to in Section 3(b) to the extent that the Board's
powers or authority under the Plan have been delegated to such Committee or
executive officer.

4.   Stock Available for Awards
     --------------------------

     (a) Number of Shares. Subject to adjustment under Section 8, Awards may be
         ----------------
made under the Plan for up to 10,920,000 shares of common stock, $.01 par value
per share, of the Company (the "Common Stock"). If any Award expires or is
terminated, surrendered or canceled without having been fully exercised or is
forfeited in whole or in part or results in any Common Stock not being issued,
the unused Common Stock covered by such Award shall again be available for the
grant of Awards under the Plan, subject, however, in the case of Incentive Stock
Options (as hereinafter defined), to any limitation required under the Code.
Shares issued under the Plan may consist in whole or in part of authorized but
unissued shares or treasury shares.

5.   Stock Options
     -------------

     (a) General. The Board may grant options to purchase Common Stock (each, an
         -------
"Option") and determine the number of shares of Common Stock to be covered by
each Option, the exercise price of each Option and the conditions and
limitations applicable to the exercise of each Option, including conditions
relating to applicable federal or state securities laws, as it considers
necessary or advisable. An Option which is not intended to be an Incentive Stock
Option (as hereinafter defined) shall be designated a "Nonstatutory Stock
Option".

     (b) Incentive Stock Options. An Option that the Board intends to be an
         -----------------------
"incentive stock option" as defined in Section 422 of the Code (an "Incentive
Stock Option") shall only be granted to employees of the Company and shall be
subject to and shall be construed consistently with the requirements of Section
422 of the Code. The Company shall have no liability to a Participant, or any
other party, if an Option (or any part thereof) which is intended to be an
Incentive Stock Option is not an Incentive Stock Option.

     (c) Exercise Price. The Board shall establish the exercise price at the
         --------------
time each Option is granted and specify it in the applicable option agreement.

                                      -2-
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     (d) Duration of Options. Each Option shall be exercisable at such times and
         -------------------
subject to such terms and conditions as the Board may specify in the applicable
option agreement.

     (e) Exercise of Option. Options may be exercised by delivery to the Company
         ------------------
of a written notice of exercise signed by the proper person or by any other form
of notice (including electronic notice) approved by the Board together with
payment in full as specified in Section 5(f) for the number of shares for which
the Option is exercised.

     (f) Payment Upon Exercise. Common Stock purchased upon the exercise of an
         ---------------------
Option granted under the Plan shall be paid for as follows:

         (1)  in cash or by check, payable to the order of the Company;

         (2)  except as the Board may, in its sole discretion, otherwise provide
in an option agreement, by (i) delivery of an irrevocable and unconditional
undertaking by a creditworthy broker to deliver promptly to the Company
sufficient funds to pay the exercise price or (ii) delivery by the Participant
to the Company of a copy of irrevocable and unconditional instructions to a
creditworthy broker to deliver promptly to the Company cash or a check
sufficient to pay the exercise price;

         (3)  when the Common Stock is registered under the Exchange Act, by
delivery of shares of Common Stock owned by the Participant valued at their fair
market value as determined by (or in a manner approved by) the Board in good
faith ("Fair Market Value"), provided (i) such method of payment is then
permitted under applicable law and (ii) such Common Stock was owned by the
Participant at least six months prior to such delivery;

         (4)  to the extent permitted by the Board, in its sole discretion by
(i) delivery of a promissory note of the Participant to the Company on terms
determined by the Board, or (ii) payment of such other lawful consideration as
the Board may determine; or

         (5)  by any combination of the above permitted forms of payment.

6.   Restricted Stock
     ----------------

     (a) Grants. The Board may grant Awards entitling recipients to acquire
         ------
shares of Common Stock, subject to the right of the Company to repurchase all or
part of such shares at their issue price or other stated or formula price (or to
require forfeiture of such shares if issued at no cost) from the recipient in
the event that conditions specified by the Board in the applicable Award are not
satisfied prior to the end of the applicable restriction period or periods
established by the Board for such Award (each, a "Restricted Stock Award").

     (b) Terms and Conditions. The Board shall determine the terms and
         --------------------
conditions of any such Restricted Stock Award, including the conditions for
repurchase (or forfeiture) and the issue price, if any. Any stock certificates
issued in respect of a Restricted Stock Award shall be registered

                                      -3-
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in the name of the Participant and, unless otherwise determined by the Board,
deposited by the Participant, together with a stock power endorsed in blank,
with the Company (or its designee). At the expiration of the applicable
restriction periods, the Company (or such designee) shall deliver the
certificates no longer subject to such restrictions to the Participant or if the
Participant has died, to the beneficiary designated, in a manner determined by
the Board, by a Participant to receive amounts due or exercise rights of the
Participant in the event of the Participant's death (the "Designated
Beneficiary"). In the absence of an effective designation by a Participant,
Designated Beneficiary shall mean the Participant's estate.

7.   Other Stock-Based Awards
     ------------------------

     The Board shall have the right to grant other Awards based upon the Common
Stock having such terms and conditions as the Board may determine, including the
grant of shares based upon certain conditions, the grant of securities
convertible into Common Stock and the grant of stock appreciation rights.

8.   Adjustments for Changes in Common Stock and Certain Other Events
     ----------------------------------------------------------------

     (a) Changes in Capitalization. In the event of any stock split, reverse
         -------------------------
stock split, stock dividend, recapitalization, combination of shares,
reclassification of shares, spin-off or other similar change in capitalization
or event, or any distribution to holders of Common Stock other than a normal
cash dividend, (i) the number and class of securities available under this Plan,
(ii) the number and class of securities and exercise price per share subject to
each outstanding Option, (iii) the repurchase price per share subject to each
outstanding Restricted Stock Award, and (iv) the terms of each other outstanding
Award shall be appropriately adjusted by the Company (or substituted Awards may
be made, if applicable) to the extent the Board shall determine, in good faith,
that such an adjustment (or substitution) is necessary and appropriate. If this
Section 8(a) applies and Section 8(c) also applies to any event, Section 8(c)
shall be applicable to such event, and this Section 8(a) shall not be
applicable.

     (b) Liquidation or Dissolution. In the event of a proposed liquidation or
         --------------------------
dissolution of the Company, the Board shall upon written notice to the
Participants provide that all then unexercised Options will (i) become
exercisable in full as of a specified time at least 10 business days prior to
the effective date of such liquidation or dissolution and (ii) terminate
effective upon such liquidation or dissolution, except to the extent exercised
before such effective date. The Board may specify the effect of a liquidation or
dissolution on any Restricted Stock Award or other Award granted under the Plan
at the time of the grant of such Award.

                                      -4-
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     (c)  Acquisition Events
          ------------------

          (1) Definition. An "Acquisition Event" shall mean: (a) any merger or
              ----------
consolidation of the Company with or into another entity as a result of which
the Common Stock is converted into or exchanged for the right to receive cash,
securities or other property or (b) any exchange of shares of the Company for
cash, securities or other property pursuant to a statutory share exchange
transaction.

          (2) Consequences of an Acquisition Event on Options. Upon the
              -----------------------------------------------
occurrence of an Acquisition Event, or the execution by the Company of any
agreement with respect to an Acquisition Event, except to the extent
specifically provided to the contrary in the instrument evidencing any Option or
any other agreement between a Participant and the Company, the Board shall
provide that all outstanding Options shall be assumed, or equivalent options
shall be substituted, by the acquiring or succeeding corporation (or an
affiliate thereof). For purposes hereof, an Option shall be considered to be
assumed if, following consummation of the Acquisition Event, the Option confers
the right to purchase, for each share of Common Stock subject to the Option
immediately prior to the consummation of the Acquisition Event, the
consideration (whether cash, securities or other property) received as a result
of the Acquisition Event by holders of Common Stock for each share of Common
Stock held immediately prior to the consummation of the Acquisition Event (and
if holders were offered a choice of consideration, the type of consideration
chosen by the holders of a majority of the outstanding shares of Common Stock);
provided, however, that if the consideration received as a result of the
Acquisition Event is not solely common stock of the acquiring or succeeding
corporation (or an affiliate thereof), the Company may, with the consent of the
acquiring or succeeding corporation, provide for the consideration to be
received upon the exercise of Options to consist solely of common stock of the
acquiring or succeeding corporation (or an affiliate thereof) equivalent in fair
market value to the per share consideration received by holders of outstanding
shares of Common Stock as a result of the Acquisition Event.

          Notwithstanding the foregoing, if the acquiring or succeeding
corporation (or an affiliate thereof) does not agree to assume, or substitute
for, such Options, then the Board shall, upon written notice to the
Participants, provide that all then unexercised Options will become exercisable
in full as of a specified time prior to the Acquisition Event and will terminate
immediately prior to the consummation of such Acquisition Event, except to the
extent exercised by the Participants before the consummation of such Acquisition
Event; provided, however, that in the event of an Acquisition Event under the
terms of which holders of Common Stock will receive upon consummation thereof a
cash payment for each share of Common Stock surrendered pursuant to such
Acquisition Event (the "Acquisition Price"), then the Board may instead provide
that all outstanding Options shall terminate upon consummation of such
Acquisition Event and that each Participant shall receive, in exchange therefor,
a cash payment equal to the amount (if any) by which (A) the Acquisition Price
multiplied by the number of shares of Common Stock subject to such outstanding
Options (whether or not then exercisable), exceeds (B) the aggregate exercise
price of such Options.

                                      -5-
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          (3) Consequences of an Acquisition Event on Restricted Stock Awards.
              ---------------------------------------------------------------
Upon the occurrence of an Acquisition Event, the repurchase and other rights of
the Company under each outstanding Restricted Stock Award shall inure to the
benefit of the Company's successor and shall apply to the cash, securities or
other property which the Common Stock was converted into or exchanged for
pursuant to such Acquisition Event in the same manner and to the same extent as
they applied to the Common Stock subject to such Restricted Stock Award.

          (4) Consequences of an Acquisition Event on Other Awards. The Board
              ----------------------------------------------------
shall specify the effect of an Acquisition Event on any other Award granted
under the Plan at the time of the grant of such Award.

9.   General Provisions Applicable to Awards
     ---------------------------------------

     (a)  Transferability of Awards. Except as the Board may otherwise determine
          -------------------------
or provide in an Award, Awards shall not be sold, assigned, transferred, pledged
or otherwise encumbered by the person to whom they are granted, either
voluntarily or by operation of law, except by will or the laws of descent and
distribution, and, during the life of the Participant, shall be exercisable only
by the Participant. References to a Participant, to the extent relevant in the
context, shall include references to authorized transferees.

     (b)  Documentation. Each Award shall be evidenced by a written instrument
          -------------
in such form as the Board shall determine. Each Award may contain terms and
conditions in addition to those set forth in the Plan.

     (c)  Board Discretion. Except as otherwise provided by the Plan, each Award
          ----------------
may be made alone or in addition or in relation to any other Award. The terms of
each Award need not be identical, and the Board need not treat Participants
uniformly.

     (d)  Continuous Relationship with the Company Required. Except to the
          -------------------------------------------------
extent specifically provided to the contrary in the instrument evidencing any
Option, an Option may not be exercised unless the Participant, at the time he or
she exercises such Option, is, and has been at all times since the date of grant
of such Option, an employee, officer or director of, or consultant or advisor
to, the Company or any parent or subsidiary of the Company as defined in Section
424(e) or (f) of the Code (an "Eligible Participant").

     (e)  Termination of Relationship with the Company. If a Participant ceases
          --------------------------------------------
to be an Eligible Participant for any reason, then, except to the extent
specifically provided to the contrary in the instrument evidencing any Option,
and except as provided in paragraphs (f) and (g) below, the right to exercise
any Option granted to such Participant under the Plan shall terminate three
months after such cessation (but in no event after such Option has expired in
accordance with the terms of the instrument evidencing such Option (the "Final
Exercise Date"), provided that any Option granted to such Participant under the
                 -------- ----
Plan shall be exercisable only to the extent that the Participant was entitled
to exercise such Option on the date of such cessation. Notwithstanding the
foregoing,

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if the Participant, prior to the Final Exercise Date, violates the
non-competition or confidentiality provisions of any employment contract,
confidentiality and nondisclosure agreement or other agreement between the
Participant and the Company, the right to exercise any Option granted to such
Participant under the Plan shall terminate immediately upon such violation.

     (f)  Exercise Period Upon Death or Disability. Except to the extent
          ----------------------------------------
specifically provided to the contrary in the instrument evidencing any Option,
if a Participant dies or becomes disabled (within the meaning of Section
22(e)(3) of the Code) prior to the Final Exercise Date of any Option granted to
such Participant under the Plan while he or she is an Eligible Participant and
the Company has not terminated such relationship for "cause" as specified in
paragraph (g) below, such Option shall be exercisable, within the period of one
year following the date of death or disability of the Participant by the
Participant, provided that such Option shall be exercisable only to the extent
             -------- ----
that it was exercisable by the Participant on the date of his or her death or
disability, and further provided that such Option shall not be exercisable after
its Final Exercise Date.

     (g)  Discharge for Cause. Except to the extent specifically provided to the
          -------------------
contrary in the instrument evidencing any Option, if a Participant, prior to the
Final Exercise Date of any Option granted to such Participant under the Plan, is
discharged by the Company for "Cause" (as defined below), the right to exercise
such Option shall terminate immediately upon the effective date of such
discharge. "Cause" shall mean only (i) the willful or reckless failure by the
Participant to perform his or her duties to the Company (other than a failure
resulting from the Participant's death or disability) or the violation of any
written employment or consulting agreement, which violation shall not have been
cured within the cure period, if any, provided in such agreement; (ii) the
commission by the Participant of an act of fraud or theft against the Company or
any of its subsidiaries; or (iii) the conviction of the Participant of (or the
plea by the Participant of nolo contendere to) any felony. The Participant shall
                           ---- ----------
be considered to have been discharged for "Cause" if the Company determines,
within 30 days after the Participant's resignation, that discharge for cause was
warranted.

     (h)  Withholding. Each Participant shall pay to the Company, or make
          -----------
provision satisfactory to the Board for payment of, any taxes required by law to
be withheld in connection with Awards to such Participant no later than the date
of the event creating the tax liability. Except as the Board may otherwise
provide in an Award, when the Common Stock is registered under the Exchange Act,
Participants may, to the extent then permitted under applicable law, satisfy
such tax obligations in whole or in part by delivery of shares of Common Stock,
including shares retained from the Award creating the tax obligation, valued at
their Fair Market Value. The Company may, to the extent permitted by law, deduct
any such tax obligations from any payment of any kind otherwise due to a
Participant.

     (i)  Amendment of Award. The Board may amend, modify or terminate any
          ------------------
outstanding Award, including but not limited to, substituting therefor another
Award of the same or a different type, changing the date of exercise or
realization, and converting an Incentive Stock Option to a Nonstatutory Stock
Option, provided that the Participant's consent to such action shall be required

                                      -7-
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unless the Board determines that the action, taking into account any related
action, would not materially and adversely affect the Participant.

     (j)  Conditions on Delivery of Stock. The Company will not be obligated to
          -------------------------------
deliver any shares of Common Stock pursuant to the Plan or to remove
restrictions from shares previously delivered under the Plan until (i) all
conditions of the Award have been met or removed to the satisfaction of the
Company, (ii) in the opinion of the Company's counsel, all other legal matters
in connection with the issuance and delivery of such shares have been satisfied,
including any applicable securities laws and any applicable stock exchange or
stock market rules and regulations, and (iii) the Participant has executed and
delivered to the Company such representations or agreements as the Company may
consider appropriate to satisfy the requirements of any applicable laws, rules
or regulations.

     (k)  Acceleration. The Board may at any time provide that any Options shall
          ------------
become immediately exercisable in full or in part, that any Restricted Stock
Awards shall be free of restrictions in full or in part or that any other Awards
may become exercisable in full or in part or free of some or all restrictions or
conditions, or otherwise realizable in full or in part, as the case may be.

10.  Miscellaneous
     -------------

     (a)  No Right To Employment or Other Status. No person shall have any claim
          --------------------------------------
or right to be granted an Award, and the grant of an Award shall not be
construed as giving a Participant the right to continued employment or any other
relationship with the Company. The Company expressly reserves the right at any
time to dismiss or otherwise terminate its relationship with a Participant free
from any liability or claim under the Plan, except as expressly provided in the
applicable Award.

     (b)  No Rights As Stockholder. Subject to the provisions of the applicable
          ------------------------
Award, no Participant or Designated Beneficiary shall have any rights as a
stockholder with respect to any shares of Common Stock to be distributed with
respect to an Award until becoming the record holder of such shares.
Notwithstanding the foregoing, in the event the Company effects a split of the
Common Stock by means of a stock dividend and the exercise price of and the
number of shares subject to such Option are adjusted as of the date of the
distribution of the dividend (rather than as of the record date for such
dividend), then an optionee who exercises an Option between the record date and
the distribution date for such stock dividend shall be entitled to receive, on
the distribution date, the stock dividend with respect to the shares of Common
Stock acquired upon such Option exercise, notwithstanding the fact that such
shares were not outstanding as of the close of business on the record date for
such stock dividend.

     (c)  Term of Plan. No Awards shall be granted under the Plan after the
          ------------
completion of ten years from the date on which the 1998 Plan was originally
adopted by the Board, but Awards previously granted may extend beyond that date.

                                      -8-
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     (d) Amendment of Plan. The Board may amend, suspend or terminate the Plan
         -----------------
or any portion thereof at any time.

     (e) Governing Law. The provisions of the Plan and all Awards made hereunder
         -------------
shall be governed by and interpreted in accordance with the laws of the State of
Delaware, without regard to any applicable conflicts of law.

     The 1998 Stock Option Plan was originally adopted and approved by the Board
of Directors and Stockholders on November 27, 1998.

     The Amended and Restated 1998 Stock Incentive Plan, which amends and
restates the 1998 Stock Option Plan, was adopted and approved by the Board of
Directors and Stockholders on July 1, 1999 and amended by the Board of Directors
on August 4, September 15, 1999, January 7, 2000 and January 26, 2000.

                                      -9-<PAGE>
                                                                    EXHIBIT 10.4

                               100 FIFTH AVENUE
                            WALTHAM, MASSACHUSETTS

                         AMENDED AND RESTATED SUBLEASE
                               BASIC INFORMATION

DATE:                   July 6, 1999

SUBLESSOR:              Innovation Associates, Inc., a
                        Massachusetts corporation

SUBLESSEE:              StorageNetworks, Inc., a
                        Delaware corporation

SUBLEASED               Sixth (6th) floor

PREMISES:               100 Fifth Avenue
                        Waltham, Massachusetts

NET RENTABLE
AREA OF SUBLEASED
PREMISES:               21,000 square feet

TERM COMMENCEMENT:      August 1, 1999; existing Sublease and License
                        Agreement will remain in effect until August 1,
                        1999

TERM EXPIRATION:        January 14, 2001

BASE RENT:              $40,250 per month

SECURITY DEPOSIT:       $120,750

SUBLESSEE'S AND
SUBLESSOR'S ADDRESS
FOR NOTICES:            See Section 15

EXHIBITS:               Exhibit A - Copy of Master Lease
                        Exhibit B - Diagram of Subleased Premises
                        Exhibit C - Form of Letter of Credit
                        Exhibit D - Letter from Sublessee to Arthur D. Little,
                        Inc.
<PAGE>

                         AMENDED AND RESTATED SUBLEASE
                         -----------------------------

     This Amended and Restated Sublease (this "Sublease") is entered into as of
the 6th day of July, 1999, by and between Innovation Associates, Inc.
("Sublessor") and StorageNetworks, Inc. ("Sublessee") as a sublease under that
certain Lease (the "Master Lease") dated December 1995, between Prospect Hill
Acquisition Trust ("Master Lessor"), as Lessor, and Innovation Associates, Inc.,
as Lessee. A copy of the Master Lease is attached hereto as Exhibit A.
                                                            ----------

     WHEREAS, pursuant to that certain Sublease and License Agreement (the
"Agreement") dated as of April 9, 1999, Sublessee subleased from Sublessor 9,036
net rentable square feet on the 6th floor of the premises at 100 Fifth Avenue,
Waltham, Massachusetts, and licensed from Sublessor the use of 2,274 net
rentable square feet on the 6th floor of such premises;

     WHEREAS, Sublessee and Sublessor desire to amend and restate the Agreement
in order that Sublessee shall sublease from Sublessor the entire premises leased
by Sublessor at 100 Fifth Avenue, Waltham, Massachusetts pursuant to the Master
Lease, on the terms and conditions set forth below:

                                  WITNESSETH
                                  ----------

     Sublessor hereby subleases to Sublessee and Sublessee hereby subleases from
Sublessor the area and space described in Section I below as the Subleased
Premises for the term and subject to the terms, covenants, agreements, and
conditions hereinafter set forth, to each and all of which Sublessor and
Sublessee hereby mutually agree, and further subject to the written approval of
Master Lessor.

1. The "Subleased Premises" consist of 21,000 square feet of net rentable area
   on the 6th floor of 100 Fifth Avenue, Waltham, Massachusetts, as shown on
   Exhibit B. Such square footage has been computed in the same manner as
   ---------
   provided in the Master Lease.

2. All of the terms, covenants, and conditions of the Master Lease, insofar as
   they relate to the Subleased Premises, are hereby incorporated by reference
   in this Sublease and made a part hereof as if the same were set forth in full
   in this Sublease, except: (a) the basic lease provisions applicable to this
   Sublease shall be as set forth on the first page hereof; (b) the base rent
   and additional rent payable by Sublessee to Sublessor in respect of the
   Subleased Premises shall be in the amount and shall be payable as provided in
   Section 4 hereof; (c) for defaults in the payment of rent, additional rent
   (including Sublessee's share of Operating Expenses and Real Property Taxes
   (each as defined in the Master Lease) increases), or any other amounts due
   under this Sublease, the grace period shall be five (5) days after the due
   date of such payment (without any requirement of notice); (d) for defaults
   other than payment defaults, the grace period shall be five (5) days less
   than that provided for Sublessor, as lessee, under the Master Lease; (e)
   Sublessor's Extension Option (as described in Exhibit D of the Master Lease)
   shall not operate for the benefit of Sublessee and may not be enforced by
   Sublessee; and (f) the term "Landlord" as used in the Master Lease shall
<PAGE>

   mean Sublessor hereunder and the term "Tenant" under the Master Lease shall
   mean Sublessee hereunder.

   In the event of any default on the part of Sublessee under any of the terms,
   covenants, and conditions of this Sublease (including those terms, covenants,
   and conditions of the Master Lease incorporated by reference herein),
   Sublessor shall have the same rights and remedies against Sublessee under
   this Sublease as are available to Master Lessor against Sublessor, as lessee,
   under the Master Lease.

   Sublessee represents to Sublessor that it has read the Master Lease and that
   it is familiar with the contents thereof. Sublessee covenants and agrees that
   it will perform, comply with, and observe all of the terms, covenants, and
   conditions contained in the Master Lease insofar as they relate to the use
   and occupancy of the Subleased Premises, except for those provisions made
   inapplicable by the express provisions of this Sublease or superseded by the
   context of the specific provisions hereof.

   Sublessor acknowledges that Sublessee is negotiating with Master Lessor to
   extend the term of Sublessor's tenancy in the Subleased Premises. To that
   end, Sublessor will cooperate with Sublessee and Master Lessor by executing
   relevant documents provided, however, that Sublessor will not assume any
   obligations, financial or otherwise, other than those that Sublessor is
   otherwise obligated to perform pursuant to the Master Lease and the Sublease.

3. The Sublease term shall commence on August 1, 1999 and shall end on January
   14, 2001, or on such earlier date upon which said term may expire or be
   terminated pursuant to a termination of the Master Lease or any of the
   conditions or limitations or other provisions of this Sublease or pursuant
   to law. Notwithstanding the foregoing or any other provision of this Sublease
   to the contrary, until such August 1 commencement date, the terms and
   provisions of the Agreement shall remain in full force and effect. Provided
   that the Master Lessor has approved this Sublease, Sublessee shall be allowed
   access to the Subleased Premises on and after July 15, 1999, for the purpose
   of installing Sublessee's telephone systems and performing related work,
   provided that such work shall not disrupt Sublessor's business and Sublessee
   shall provide at least 24 hours' prior notice to Sublessor of Sublessee's
   desire to enter into the Subleased Premises for such purposes.

4. Sublessee shall pay to Sublessor during the term base rent for the Subleased
   Premises in the amount of $40,250 per month, payable in advance on the
   fifteenth day of each month. Payments of base rent shall not commence until
   the date that this Sublease has been signed by both parties and approved by
   the Master Lessor. The base rent payable hereunder shall be increased by the
   amount, if any, of any increase in Operating Expenses and Real Property Taxes
   (as such terms are defined in the Master Lease) allocable to the Subleased
   Premises over the Base Year. Sublessee and Sublessor agree that the
   proportionate share of Operating Expenses and Real Estate Taxes allocable to
   the Subleased Premises is 14.0%. The term "Base Year" shall mean calendar
   year 1999 for purposes of computing Operating Expenses, and fiscal year 1999
   for purposes of computing Real Property Taxes. Sublessor shall notify
   Sublessee in writing as to any such increase, and the base rent payable under
   this Sublease shall be deemed to be amended to reflect any such increase.
   Sublessor and Sublessee agree that the base rent, as the same may be
   increased pursuant to the foregoing sentence, shall be

                                       3
<PAGE>

    deemed to include a pro rata share based on the square footage of the
    Subleased Premises of any amounts payable by Sublessor to Master Lessor for
    Operating Expenses or Real Property Taxes in respect of the Subleased
    Premises pursuant to the Master Lease, and that Sublessee shall not be
    obligated to pay to Sublessor a pro rata portion of Operating Expenses or
    Real Property Taxes, or any escalations thereof, except in accordance with
    this Section 4. Notwithstanding the foregoing, Sublessee shall be
    responsible for paying all charges for electricity related to the Subleased
    Premises. Such electricity shall be separately metered at Sublessor's sole
    cost and expense.

5.  Upon the execution of this Sublease, Sublessee shall pay and Sublessor shall
    hold one hundred twenty thousand seven hundred fifty dollars ($120,750) as
    security (the "Security Deposit) for the payment of all rent and other sums
    of money payable under the terms of this Sublease and for the faithful
    performance by Sublessee of each of its other obligations hereunder. Sixty
    thousand dollars ($60,000) (of which Sublessor currently is holding $51,957)
    of the Security Deposit shall be paid to Sublessor by check, subject to
    collection. At Sublessee's option, the balance of the Security Deposit
    ($60,750) shall be paid to Sublessor by check, subject to collection, or
    shall be secured by an irrevocable Letter of Credit from a Massachusetts
    bank or other financial institution reasonably acceptable to Sublessor, of
    even date and execution herewith, in the form of Exhibit C attached hereto
                                                     ---------
    and made a part hereof (together with any additional or replacement letter
    of credit, the "Letter of Credit"). Sublessee shall pay any and all fees
                    ----------------
    charged by the issuing bank in respect of the Letter of Credit. If the bank
    on which the Letter of Credit is drawn elects not to renew the Letter of
    Credit or is declared insolvent or placed into conservatorship or
    receivership, Sublessee shall, within ten (10) days after such election or
    event, replace the Letter of Credit with a like Letter of Credit from
    another bank or financial institution reasonably acceptable to Sublessor. In
    the event of an Event of Default (as defined in the Master Lease, subject to
    the terms hereof), Sublessee hereby authorizes Sublessor, at Sublessor's
    election and with or without terminating this Sublease and without prejudice
    to any other right or remedy Sublessor may have, to apply all or any portion
    of the Security Deposit necessary to remedy such default, including by
    drawing on the Letter of Credit. The order in which Sublessor applies the
    proceeds of the cash portion of the Security Deposit and the proceeds of the
    Letter of Credit shall be determined by Sublessor from time to time in its
    sole discretion. If all or any of the cash portion of the Security Deposit
    is so applied, Sublessee, upon demand by Sublessor, shall immediately
    deposit with Sublessor an amount equal to the amount of the cash portion of
    the Security Deposit so applied. If all or any of the proceeds of the Letter
    of Credit is so applied, Sublessee, upon demand by Sublessor, shall
    immediately arrange for the issuance of an additional or replacement Letter
    of Credit in an amount equal to the amount of the proceeds of the then-
    outstanding, Letter of Credit so applied. The cash portion of the Security
    Deposit or any portion thereof not previously applied by Sublessor shall be
    returned to Sublessee within thirty (30) days after the expiration or
    earlier termination (other than a termination resulting from Sublessee's
    default) of the term of this Sublease, provided that Sublessee shall have
    fully vacated the Subleased Premises and such premises are left in the same
    condition as on the term commencement date, reasonable wear and tear
    excepted. Notwithstanding any provision of this Sublease to the contrary,
    for purposes of the foregoing sentence, the term commencement date with
    respect to the 11,310 square feet of the Subleased Premises occupied by
    Sublessee on the date hereof shall be April 15, 1999. The intention of the
    parties is that the Security Deposit shall secure Sublessor not only as to
    default by Sublessee, but also shall secure Sublessor from any deficiency in
    rent or other charges payable to Sublessor by Sublessee during the term of
    this Sublease.

6.  The Subleased Premises shall be delivered to Sublessee in "as is" condition,
    provided that Sublessor shall vacate the Subleased Premises in broom-clean
    condition and remove its personal property and signs from the Subleased
    Premises prior to Sublessee's occupancy thereof. Any improvements, changes,
    or additions made by Sublessee shall be subject to the prior written consent
    of Sublessor and Master Lessor in accordance with the provisions of the
    Master Lease and shall be made at Sublessee's expense. Sublessor hereby
    consents to any work proposed to be performed by Sublessee provided that
    Master Lessor consents thereto. Master Lessor's consent to this Sublease
    shall not be or be deemed a consent to such work in the Subleased Premises.
    Any such work by Sublessee in the Subleased Premises and Master Lessor's
    consent thereto shall be in accordance with Section 7.3 of the Master Lease,
    except that Section 7.3(a) with respect to Permitted Alterations (as defined
    in the Master Lease) shall not be applicable to Sublessee. Sublessor
    acknowledges that there are no alterations or improvements in the Subleased
    Premises as of the date hereof that must be removed upon the expiration of
    the Master Lease, other than alterations or improvements made by Sublessee
    (including, without limitation, the alterations and improvements described
    in that certain letter dated June 7, 1999 from Sublessee to Arthur D.
    Little, Inc., a copy of which is attached hereto as Exhibit D and made a
                                                        ---------
    part hereof).

                                       4
<PAGE>

7.  Sublessee shall not voluntarily, involuntarily, or by operation of law,
    assign, transfer, sublease, mortgage, pledge, or encumber (hereinafter
    referred to as transfer) this Sublease or any interest herein without the
    prior written consent of Sublessor, which shall not be unreasonably
    withheld, and without the prior written consent of Master Lessor. A consent
    to a transfer shall not release Sublessee of any of its obligations
    hereunder or be deemed to be a consent to any subsequent transfer. Any
    transfer without written consent will be null and void. Any dissolution,
    merger, consolidation, or other reorganization of Sublessee or the sale or
    other transfer or disposition (in a single transaction or a series of
    transactions) of a controlling percentage of the stock of Sublessee shall
    constitute a transfer of this Sublease.

8.  Sublessee shall maintain insurance in accordance with the Master Lease. Such
    policies of insurance shall name Sublessor and Master Lessor and its
    property manager (currently, The Nelson Companies, Ltd.) as an additional
    insured, shall contain a cross liability endorsement, and shall provide that
    the same may not be cancelled except upon 30 days prior written notice to
    Sublessor and Master Lessor and its property manager. Sublessee shall
    provide Sublessor and Master Lessor and its property manager with a
    certificate or certificates of said policies. Sublessee agrees that such
    insurance shall not be deemed to limit its liability under this Sublease.

9.  To the fullest extent permitted by law, Sublessee hereby agrees to indemnify
    and hold harmless and defend Sublessor from and against any and all actions,
    claims, demands, damages, losses, liabilities, costs, and expenses
    (including reasonable attorneys' fees) asserted against, imposed upon, or
    incurred by Sublessor by reason of (a) any violation of any of the terms,
    covenants, or conditions of the Master Lease or this Sublease caused,
    suffered, or permitted by Sublessee, its agents, servants, employees, or
    invitees, and (b) any damage or injury to persons or property occurring upon
    or in connection with the use or occupancy of the Subleased Premises, except
    to the extent caused by the negligence or willful misconduct of Sublessor,
    its agents, servants, employees, or invitees. Notwithstanding anything in
    this Sublease to the contrary, including but not limited to this Section 9,
    Sublessee will indemnify Master Lessor to the same extent as Sublessor is
    obligated to indemnify Master Lessor under the Master Lease.

10. As between the parties hereto, Sublessor agrees to observe and perform the
    terms, covenants and conditions on its part to be observed and performed
    hereunder and to use diligent efforts to cause Master Lessor to observe and
    perform those applicable terms, covenants and conditions to be observed and
    performed by Master Lessor under the Master Lease with respect to the
    Subleased Premises. Sublessee covenants and agrees that Sublessee will not
    do anything which would constitute a default under the Master Lease or omit
    to do anything which Sublessee is obligated to do under the terms of this
    Sublease and which would constitute a default under the Master Lease.
    Sublessor covenants and agrees to pay the rent and any additional rent
    payable as required under the Master Lease and will not do anything or omit
    to do anything which Sublessor is obligated to do under the terms of the
    Master Lease and which would constitute a default under the Master Lease.

    Sublessor shall not be liable to Sublessee for Master Lessor's negligence or
    misconduct or breach of the Master Lease. If Master Lessor shall default in
    any of its obligations to Sublessor with respect to the Subleased Premises,
    Sublessee shall be entitled to participate with Sublessor in the enforcement
    of Sublessor's rights against Master Lessor with respect to the Subleased
    Premises, but except as hereinafter expressly provided, Sublessor shall have
    no obligation to bring any action or proceeding or to take any steps to
    enforce Sublessor's rights against Master Lessor. If, after written request
    from Sublessee, Sublessor shall unreasonably fail or refuse to take
    appropriate action for the enforcement of Sublessor's rights against Master
    Lessor with respect to the Subleased Premises, Sublessee shall have the
    right to take such action in its own name and at its own expense, and for
    that purpose, and only to such extent, all of the rights of Sublessor under
    the Master Lease shall be and hereby are conferred upon and assigned to
    Sublessee and Sublessee shall be and is hereby subrogated to such rights to
    the extent that the same shall apply to the Subleased Premises, provided and
    to the extent that such action against Master Lessor in Sublessee's name
    shall be barred by reason of lack of privity of contract. If Sublessor shall
    take, or participate in, or shall be requested to participate or assist in
    any action in the enforcement of Sublessee's rights against Master Lessor,
    Sublessee agrees to reimburse Sublessor for all expenses reasonably incurred
    by Sublessor, including without limitation, the attorney's fees of
    Sublessor. Sublessee hereby agrees to indemnify and hold harmless and defend
    Sublessor from and against any and all damages, claims, and liabilities to
    others resulting or allegedly resulting from any action or proceeding taken
    or instituted by Sublessee (or by Sublessor at Sublessee's request) pursuant
    to this section whether or not Sublessor joins in the same.

                                       5
<PAGE>

11. Sublessor shall promptly request any necessary consents and approvals from
    Master Lessor for the parties to enter into this Sublease and shall provide
    reasonable written evidence thereof to Sublessee as a condition precedent to
    the commencement of this Sublease.

12. Sublessee hereby represents and warrants to Sublessor that it has not dealt
    with any broker or agent in connection with this Sublease other than The
    Nelson Companies, whose fee shall be paid in full by Sublessor. Sublessor
    hereby represents and warrants to Sublessee that it has not dealt with any
    broker or agent in connection with this Sublease other than The Nelson
    Companies, whose fee shall be paid in full by Sublessor. Each of Sublessee
    and Sublessor agrees to indemnify and hold harmless the other against any
    claim by any broker or agent arising out of a breach of their respective
    representations and warranties in this Section 12.

13. This Sublease, together with those provisions of the Master Lease applicable
    hereto, contains all of the covenants, agreements, terms, provisions,
    conditions, warranties and understandings relating to the leasing of the
    Subleased Premises and Sublessor's obligations in connection therewith, and
    neither Sublessor nor any agent or representative of Sublessor has made or
    is making, and Sublessee in executing and delivering this Sublease is not
    relying upon, any warranties, representations, promises or statements
    whatsoever, except to the extent expressly set forth in this Sublease. The
    failure of Sublessee or Sublessor to insist in any instance upon the strict
    keeping, observance or performance of any covenant, agreement, term,
    provision or condition of this Sublease or to exercise any election herein
    contained shall not be construed as a waiver or relinquishment for the
    future of such covenant, agreement, term, provision, condition or election,
    but the same shall continue and remain in full force and effect. Except as
    expressly provided in Section 4 hereof, no waiver or modification of any
    covenant, agreement, term provision or condition of this Sublease shall be
    deemed to have been made unless expressed in writing and signed by Master
    Lessor, Sublessee and Sublessor. No surrender of possession of the Subleased
    Premises or of any part thereof or of any remainder of the term of this
    Sublease shall release Sublessee from any of its obligations hereunder
    unless accepted by Sublessor in writing. The receipt and retention by
    Sublessor of monthly base rent or additional rent from anyone other than
    Sublessee shall not be deemed a waiver of the breach by Sublessee of any
    covenant, agreement, term or provision of this Sublease, or as the
    acceptance of such other person as a tenant, or as a release of Sublessee
    from the further keeping, observance or performance by Sublessee of the
    covenants, agreements, terms, provisions and conditions herein contained.
    The receipt and retention by Sublessor of monthly base rent or additional
    rent with knowledge of the breach of any covenant, agreement, term,
    provision or condition herein contained shall not be deemed a waiver of such
    breach.

14. The obligations of this Sublease shall bind and benefit the successors and
    permitted assigns of the parties with the same effect as if mentioned in
    each instance where a party hereto is named or referred to.

15. All notices to Sublessor shall be sent to Innovation Associates, c/o Arthur
    D. Little, Inc., 35 Acorn Park, Cambridge, MA 02140, Attn: Charles F.
    Kiefer, with a copy to Arthur D. Little, Inc., 20 Acorn Park, Cambridge, MA
    02140, Attn: Jose Bairos; all notices to Sublessee shall be sent to
    StorageNetworks, Inc., 100 Fifth Avenue, Waltham, MA 02451, Attn: Paul C.
    Flanagan, with a copy to Pamela Coravos, Esq., Hale and Dorr LLP, 60 State
    Street, Boston, MA 02109, or to such other address and attention as either
    party shall notify the other in writing.

                                       6
<PAGE>

16. Sublessee will have access to the Subleased Premises 24 hours per day, seven
    days a week via a card reader access system. Nightly janitorial service, on-
    site property management, elevator service and card key access are all
    included in the base rent. Sublessee shall have the non-exclusive right to
    use 63 parking spaces in the parking area serving the Subleased Premises at
    no extra charge. Signage for Sublessee, at Sublessee's sole cost and
    expense, shall be approved in advance by Sublessor and Master Lessor in
    accordance with the Master Lease.

                          [Intentionally left blank]

                                       7
<PAGE>

     1N WITNESS WHEREOF, the parties have executed this Sublease as of the date
first set forth above.

                                             Sublessor:

                                             INNOVATION ASSOCIATES, INC.

                                             By: /s/ John F. Burns
                                                ----------------------------
                                                John F. Burns
                                                Vice President

                                             Sublessee:

                                             STORAGENETWORKS, INC.

                                             By: /s/ Paul C. Flanagan
                                                ------------------------------
                                             Print Name: Paul C. Flanagan
                                                        ----------------------
                                             Title: CFO
                                                   ---------------------------

                                       8

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