Document:

Exhibit 10.2

                              VANTAS Incorporated
90 Park Avenue
New York, New York 10016

                                             March 29, 2000

David W. Beale
3230 Hewlett Avenue
Merrick, New York 11566

Dear David:

          This letter agreement (this "Agreement") sets forth the agreement of
the parties hereto with respect to the (i) disposition of the equity holdings
of David W. Beale (the "Employee") in VANTAS Incorporated, a Nevada
corporation (the "Company"), (ii) further amendment of the Employee's
employment agreement with the Company dated November 15, 1996, as amended by
an Agreement dated as of October 29, 1999 (the "October Agreement") among the
Employee, the Company and FrontLine Capital Group (f/k/a Reckson Service
Industries, Inc.), a Delaware corporation ("FrontLine"), and an Agreement
dated December 30, 1999 (the "December Agreement") among the Company,
FrontLine, the Employee and certain other executive officers of the Company
(as so amended by the October Agreement and the December Agreement, the
"Employment Agreement"; the October Agreement and the December Agreement are
hereinafter collectively referred to as the "Exchange Agreement"), (iii)
further amendment of the Fifth Amended and Restated Stockholders' Agreement
dated as of July 29, 1999, as amended by amendments thereto dated as of
November 22, 1999 and January 26, 2000, by and among the Company and the
Securityholders named therein (as so amended, the "Stockholders' Agreement")
and (iv) certain other matters set forth herein.

          The parties hereto, in exchange for good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, hereby agree as
follows:

1.        Disposition of Employee's Equity Securities.

(a)       The Employee hereby represents and warrants to each of the
Company and FrontLine that as of the date hereof he is the sole beneficial (as
such term is defined in Rule 13d-3 promulgated under the Securities Exchange
Act of 1934, as amended, or otherwise) and record owner of the following
equity securities of the Company: (i) Nine Hundred Eighty-Eight Thousand and
Twelve (988,012) shares (the "Employee Shares") of Class A Common Stock, par
value $.01 per share ("Common Stock"), (ii) option granted under the Company's
1996 Stock Option Plan to purchase Two Hundred Ninety-One Thousand and
Forty-Five (291,045) shares of Common Stock at Two Dollars ($2) per share,
(iii) option (the "1999 Plan Option") granted under the Company's 1999 Stock
Option Plan to purchase Two Hundred and Fifty Thousand (250,000) shares of
Common Stock at Six Dollars ($6) per share, (iv) options to purchase an
aggregate of Three Hundred Seventy-Five Thousand (375,000) shares of Common
Stock at Two Dollars ($2) per share and (v) option to purchase Two Hundred
Thousand (200,000) shares of Common Stock at Six Dollars ($6) per share. The
options covered by clauses (ii) through (v) of the immediately preceding
sentence are hereinafter collectively referred to as the "Options".

(b)       The Employee Shares shall be subject to and purchased in
accordance with the terms and provisions of the Merger Agreement (as
hereinafter defined) applicable to shares of Common Stock. For purposes of
this Agreement, the term "Merger Agreement" means that certain Agreement and
Plan of Merger dated as of January 20, 2000 by and among the Company and
FrontLine (solely for purposes of certain sections thereof), on the one hand,
and HQ Global Workplaces, Inc., a Delaware corporation, and CarrAmerica Realty
Corporation, a Maryland corporation (solely for purposes of certain sections
thereof), on the other hand.

(c)       Immediately prior to the Effective Time of the HQ Merger (as
such terms are defined in the Merger Agreement), the Employee shall deliver
the execution originals of the agreements evidencing the Options to the
Company and effect a cashless exercise (the "Cashless Exercise") of all (but
not less than all) of the Options to be calculated based on the price being
paid for each share of Common Stock in the HQ Merger. Assuming that the amount
to be paid for each share of Common Stock pursuant to the Merger Agreement is
Eight Dollars ($8), a Cashless Exercise of all of the Options pursuant to this
Section 1(c) will result in the issuance of 612,034 shares of Common Stock
(the "Cashless Exercise Shares") which will be purchased under the Merger
Agreement for Four Million Eight Hundred Ninety-Six Thousand Two Hundred
Seventy-Two Dollars ($4,896,272). The methodology utilized for calculating the
number of Cashless Exercise Shares and the payment due under the Merger
Agreement on account thereof based on an Eight Dollar ($8) per share purchase
price is set forth on Schedule I attached hereto. The number of and the dollar
amount to be paid for the Cashless Exercise Shares set forth on Schedule I
attached hereto is calculated as follows: First, calculate the amount required
to exercise the Options in their entirety. Second, subtract such exercise
price amount from the amount which would be payable under the Merger Agreement
for the shares of Common Stock underlying all of the Options. Finally, divide
the amount resulting from such subtraction by the amount to be paid for each
share of Common Stock pursuant to the Merger Agreement. The amount resulting
from such division (which if not a whole number shall be rounded up to the
nearest whole number) represents the number of Cashless Exercise Shares the
Employee shall receive as a result of the Cashless Exercise. The Cashless
Exercise Shares shall be subject to and purchased in accordance with the terms
and provisions of the Merger Agreement applicable to shares of Common Stock.

(d)       Concurrently with the Employee's receipt of the cash payment due
under the Merger Agreement on account of the Employee Shares and Cashless
Exercise Shares, the Employee shall repay all unpaid principal and accrued and
unpaid interest due under the following two (2) instruments: (i) Amended and
Restated Promissory Note and Pledge Agreement dated as of August 4, 1998 (the
"1998 Note") in the principal amount of Nine Hundred and Fifty Thousand
Dollars ($950,000) by and between the Employee, as maker, and ALLIANCE
National Incorporated, as payee, and (ii) Secured Term Promissory Note dated
December 30, 1999 (the "1999 Note") in the principal amount of Six Hundred
Sixty-Seven Thousand Nine Hundred and Ten Dollars ($667,910) by and between
the Employee, as maker, and the Company, as payee.

(e)       The Employee hereby represents and warrants to each of the
Company and FrontLine that (i) as of the date of this Agreement, the Employee
Shares and the Options constitute all of the equity securities of, or other
equity in, the Company owned beneficially or of record by the Employee and
(ii) in the event the HQ Merger is effected and the transactions covered by
Sections 1(b), 1(c) and 1(d) of this Agreement are consummated, the Employee,
upon the consummation of such transactions, shall not own beneficially or of
record equity or debt interests in or of the Company (or its successor) of any
kind or nature.

(f)       In the event that the Merger Agreement is terminated, (i)
Sections 1(b), 1(c) and 1(d) of this Agreement shall be of no further force
and effect, (ii) the 1998 Note shall be repaid by the Employee when due in
accordance with its terms and provisions, (iii) the 1999 Note shall be repaid
by the Employee upon the effective date of the termination of his employment
with the Company and (iv) the Employee shall continue to have (A) with respect
to the Employee Shares and the Options, his rights set forth under paragraph 2
of Schedule B (the provisions of such Schedule B being hereinafter referred to
as the "VANTAS Long Term Incentive Plan") to the October Agreement, as such
VANTAS Long Term Incentive Plan has been approved by the Company's senior
lenders or as may in the future be approved by the Company's then existing
senior lenders (as of the date of this Agreement, the Company is permitted by
its senior lenders to spend up to Two Million Dollars ($2,000,000) per quarter
and Eight Million Dollars ($8,000,000) in the aggregate under the VANTAS Long
Term Incentive Plan) and (B) with respect to the 1999 Plan Option, the put
right provided for in Section 2(d)(ii) of the October Agreement and Section
4.7 of the Stockholders' Agreement.

2.        Employment Agreement.

(a)       The Employment Agreement is hereby further amended as follows:

               (i)  The first, second, third and fourth WHEREAS clauses of the
                    Employment Agreement are deleted in their entirety.

               (ii) Paragraph 1 of the Employment Agreement is amended and
                    restated in its entirety as follows:

          "Employment. The Company hereby agrees to employ the Employee and
          the Employee hereby accepts said employment upon the terms and
          conditions hereinafter set forth."

              (iii) Paragraph 2 of the Employment Agreement is amended and
                    restated in its entirety as follows:

          "Position, Other Activities. The Employee shall report and be
          responsible to the Board of Directors of the Company and the
          Chairman of the Board.

          During the period prior to the HQ Merger (as such term is defined in
          that certain Agreement and Plan of Merger dated as of January 20,
          2000 (the "Merger Agreement") by and among the Company and FrontLine
          Capital Group (f/k/a Reckson Service Industries, Inc.), a Delaware
          corporation ("FrontLine") (solely for purposes of certain sections
          thereof), on the one hand, and HQ Global Workplaces, Inc., a
          Delaware corporation, and CarrAmerica Realty Corporation, a Maryland
          corporation (solely for purposes of certain sections thereof), on
          the other hand), the Employee's primary duties shall consist of
          serving on the Company's Board of Directors and the HQ Merger
          transition team, and assisting in the orderly transition of the
          Company's operations to the corporation surviving the HQ Merger, all
          in such manner as shall be reasonably requested by the Company.
          During the period prior to the HQ Merger, subject to the Employee's
          approval (which shall not be unreasonably withheld, conditioned or
          delayed), the Employee shall also perform such other duties as the
          Board of Directors of the Company or the Chairman of the Board from
          time to time may reasonably request.

          In the event that the Merger Agreement is terminated, subject to the
          Employee's approval (which shall not be unreasonably withheld,
          conditioned or delayed), the Employee shall perform such duties as
          the Board of Directors of the Company or the Chairman of the Board
          from time to time may reasonably request.

          The Employee shall not be required to report to the Company's
          executive offices, except as may reasonably be requested by the
          Company with reasonable advance notice."

               (iv) Paragraph 3 of the Employment Agreement is amended and
                    restated in its entirety as follows:

          "Term of Employment. The Company hereby employs the Employee to
          perform the duties described in Paragraph 2, and the Employee hereby
          accepts employment with the Company, for a term (the "Employment
          Term") continuing until the earliest to occur of the date on which
          the HQ Merger is effected, April 30, 2001 or the date on which the
          Employee's employment is terminated pursuant to either Paragraph 7
          or 10 (the earliest of such dates, the "Termination Date")."

               (v)  Paragraph 4 of the Employment Agreement is amended and
                    restated in its entirety as follows:

          "Performance of Duties. During the period of the Employee's
          employment, he shall perform faithfully the duties required of him.
          Subject to the other terms and provisions of this Agreement
          including, without limitation, Paragraph 19, the Employee shall not
          be precluded from engaging in other business activities prior to the
          Termination Date including, but not limited to, serving on the board
          of directors of other companies, making personal investments and
          providing consulting services, in each case, so long as the Employee
          remains reasonably available to the Company to perform the duties
          described above in Paragraph 2."

               (vi) Paragraph 5(a) of the Employment Agreement is amended and
                    restated in its entirety as follows:

          "Salary. During the period commencing on January 1, 2000 and ending
          on the Termination Date, the Company shall pay to the Employee as
          compensation for his services hereunder salary at the rate of Five
          Hundred Eleven Thousand Seven Hundred and Fifty Dollars ($511,750)
          per annum, payable pursuant to the Company's salary payment
          practices."

              (vii) Paragraph 5(b) of the Employment Agreement is amended and
                    restated in its entirety as follows:

          "Bonus. In addition to the salary set forth in Paragraph 5(a) of
          this Agreement, the Employee shall receive a bonus of Two Hundred
          and Fifty Thousand Dollars ($250,000) on account of the fiscal year
          1999 and a bonus of Twenty Thousand Eight Hundred and Thirty-Three
          Dollars ($20,833) on account of the fiscal year 2000. Such bonus
          amounts shall be paid to the Employee on the Termination Date and
          there shall be no other bonus paid to the Employee."

                  (viii) Paragraph 5(c) of the Employment Agreement is
                         amended and restated in its entirety as follows:

               "Deferred Compensation. The Company shall make a deferred
               compensation payment of Five Hundred Sixty-Nine Thousand Eight
               Hundred Ninety-Six Dollars ($569,896) to the Employee on the
               Termination Date."

                    (ix) Paragraph 5(d) of the Employment Agreement is amended
                         and restated in its entirety as follows:

               "No Further Compensation. Upon the Employee's receipt of the
               payments contemplated by Paragraphs 5(a), 5(b), 5(c) and, if
               applicable, 7(b), the Employee shall not be entitled to any
               further payments from the Company under this Agreement, except
               as may be required under Paragraph 9."

                    (x)  Paragraph 6(a) of the Employment Agreement is amended
                         and restated in its entirety as follows:

               "[Intentionally Omitted.]"

                    (xi) Paragraph 6 of the Employment Agreement is amended by
                         adding the following paragraph after Paragraph 6(e):

               "f. No Further Benefits. From and after the Termination Date,
               the Employee shall not be entitled to benefits provided for in
               Paragraphs 6(b), 6(c), 6(d) and 6(e), other than reimbursement
               for expenses covered by Paragraph 6(b) which were incurred by
               the Employee prior to the Termination Date, and except as may
               be required by law, including COBRA if required by law."

                   (xii) Paragraph 7(b) of the Employment Agreement is
                         amended and restated in its entirety as follows:

               "Termination by the Company. The Company may at any time
               terminate the employment of the Employee. In the event that the
               employment of the Employee is terminated by the Company, other
               than for Cause, or the Employee has remained in the employ of
               the Company through the earliest to occur of the date on which
               the HQ Merger is effected, April 30, 2001 or the date on which
               the Employee resigns for the reason set forth in Paragraph
               7(a), the Company shall pay to the Employee on the Termination
               Date, in addition to the amounts required to be paid under
               Paragraphs 5(b) and 5(c), an amount (without discount for
               present value) equal to the salary (computed at the rate of
               Five Hundred Eleven Thousand Seven Hundred and Fifty Dollars
               ($511,750) per annum) the Employee would have received had he
               continued to be employed by the Company during the period
               commencing on the Termination Date and ending on June 30,
               2002."

                  (xiii) Paragraph 7(c) of the Employment Agreement is
                         amended and restated in its entirety as follows:

               "Termination for Cause; Resignation Without Good Reason. If the
               Company terminates the Employee's employment for Cause, as
               defined in Paragraph 7(c) hereof, or if the Employee resigns
               from his employment hereunder, other than for the reason set
               out in Paragraph 7(a) hereof, the Employee shall be entitled to
               no compensation in any form after the date of his termination,
               except for those amounts specified in Paragraphs 5(b) and
               5(c)."

                   (xiv) Paragraph 8 of the Employment Agreement is deleted
                         in its entirety.

                    (xv) Paragraph 10(c) of the Employment Agreement is
                         amended and restated in its entirety as follows:

               "All unpaid amounts covered by Paragraphs 5(b) and 5(c) shall
               immediately be payable to the Employee's estate or the disabled
               Employee as applicable."

                   (xvi) The second sentence of Paragraph 11 of the
                         Employment Agreement is amended and restated in its
                         entirety as follows:

               "The Company may assign this Agreement only to its successors
               and assigns, and in the event this Agreement is so assigned,
               the Employee shall be entitled to enforce the provisions of
               this Agreement."

                  (xvii) The first sentence of Paragraph 13 of the
                         Employment Agreement is amended and restated in its
                         entirety as follows:

               "This Agreement, the Agreement dated as of October 29, 1999
               among the Employee, the Company and FrontLine, the Agreement
               dated December 30, 1999 among the Company, FrontLine, the
               Employee and certain other executive officers of the Company
               and the letter agreement dated March 29, 2000 among the
               Employee, the Company and FrontLine, sets forth the entire
               understanding of the parties with respect to the employment of
               the Employee by the Company and supersede any and all other
               agreements, arrangements and understandings relating to the
               subject matter hereof, including, without limitation, that
               certain Employment Agreement dated April 1, 1994 by and between
               the Employee and Executive Office Group, Inc."

                 (xviii) Paragraph 18(a) of the Employment Agreement is
                         amended and restated in its entirety as follows:

               "a. If to the Company:

                         VANTAS Incorporated
                         90 Park Avenue
                         New York, New York 10016
                         Attn: David J. Rupert

                         with a copy to:

                         Herrick, Feinstein LLP
                         2 Park Avenue
                         New York, New York 10016
                         Attn: Irwin A. Kishner"

                   (xix) Paragraph 18(b) of the Employment Agreement is
                         amended and restated in its entirety as follows:

               "b. If to the Employee:

                         David W. Beale
                         3230 Hewlett Avenue
                         Merrick, New York 11566

                         with a copy to:

                         Willkie Farr & Gallagher
                         787 Seventh Avenue
                         New York, New York 10019
                         Attn: Frank A. Daniele"

                    (xx) The first sentence of Paragraph 19(f) of the
                         Employment Agreement is deleted in its entirety.

                   (xxi) The last sentence of Paragraph 19(f) of the
                         Employment Agreement is amended and restated in its
                         entirety as follows:

               "This Paragraph 19(f) shall be construed and interpreted in
               light of the duration of the applicable restrictive covenants."

                  (xxii) Appendix I of the Employment Agreement is deleted
                         in its entirety.

(b)       Except as expressly modified by Section 2(a) of this Agreement,
all of the terms and provisions of the Employment Agreement shall remain in
full force and effect. In the event of any inconsistency or conflict between
the terms and provisions of this Agreement and the Employment Agreement, this
Agreement shall prevail.

(c)       Notwithstanding the terms and provisions of the Exchange
Agreement to the contrary, but subject to Section 5 of this Agreement, in the
event that the employment of the Employee is terminated by the Company, other
than for "cause" (as such term is defined in the Company's 1999 Stock Option
Plan), or if the Employee has remained in the employ of the Company through
the earlier to occur of the date on which the HQ Merger is effected or April
30, 2001, the Employee shall be relieved of his contingent obligation under
the Exchange Agreement to repay the Additional Compensation (as such term is
defined in the October Agreement).

(d)       Upon the termination of the Employee's employment with the
Company or the corporation surviving the HQ Merger, the Employee shall be
provided with a Drake Beam package as shall be reasonably agreed upon by the
Employee and the Company or the corporation surviving the HQ Merger.

(e)       In the event that the HQ Merger is effected, the Employee hereby
covenants that he shall not thereafter cause any third party (including,
without limitation any governmental authority) to bring, or assist (except
where such assistance is required by law) any such third party in bringing,
any legal proceeding of any kind or nature (whether by means of litigation,
arbitration, governmental proceeding or otherwise) against the corporation
surviving the HQ Merger, the Company, FrontLine and/or their respective
affiliates for any reason (other than the Company's breach of this Agreement
or the Employment Agreement (as amended by this Agreement)). In the event that
the Employee shall breach such covenant, he shall indemnify and hold harmless
each of the corporation surviving the HQ Merger, FrontLine and their
respective affiliates from and against any and all losses, liabilities,
damages and expenses (including, without limitation, reasonable attorneys'
fees and disbursements) incurred as a result of the claim brought by such
third party.

(f)       The Employee hereby acknowledges that, upon the termination of
his employment with the Company and the receipt of all payments to which he is
entitled pursuant to this Agreement, he shall, except as provided in Section
1(f) of the Agreement, have no further rights under the VANTAS Long Term
Incentive Plan or to any other compensation or benefits from the Company
(other than those he is entitled to under the Company's health, disability,
life insurance and pension plans which are payable by the providers of such
plans and not the Company).

(g)       To the extent that the Company and/or the corporation surviving
the HQ Merger is or are required to withhold any income or employment taxes
from any payment made to the Employee under this Agreement or the Employment
Agreement (as amended by this Agreement), such taxes shall be withheld at the
minimum rate required by law.

3.        Stockholders' Agreement. Subject to the last sentence of this
Section 3, the Employee hereby relinquishes all of his rights existing under
the Stockholders' Agreement and the terms and provisions of the Stockholders'
Agreement as they pertain to the Employee shall be deemed terminated and of no
further force and effect. The Employee shall execute all documents and take
such other action as may be requested by FrontLine, VANTAS and/or the
corporation surviving the HQ Merger in order to further evidence his agreement
to the terms and provisions of the immediately preceding sentence.
Notwithstanding the foregoing, in the event that the Merger Agreement is
terminated, all rights under the Stockholders' Agreement so relinquished by
the Employee shall be reinstated thereunder retroactively to the date of this
Agreement as if such relinquishment had not occurred insofar as concerns any
rights under the Stockholders' Agreement on a going forward basis from and
after the date of the termination of the Merger Agreement.

4.        Releases. In the event that the HQ Merger is effected, then on
the effective date of the HQ Merger (i) the Employee shall execute and deliver
to FrontLine and the corporation surviving the HQ Merger the general release
attached hereto as Exhibit A-1, (ii) the Employee shall deliver the Age
Discrimination in Employment Act release attached hereto as Exhibit B-1, which
release shall be executed with a date of April 19, 2000 and delivered in
escrow to the Employee's attorney no later than April 20, 2000 and (iii)
FrontLine and the corporation surviving the HQ Merger shall execute and
deliver to the Employee the general release attached hereto as Exhibit C-1. In
the event that the Merger Agreement is terminated, then on the effective date
of the termination of the Employee's employment with the Company under
circumstances which entitle him to the payments described in Paragraph 7(b) of
the Employment Agreement (as amended by this Agreement), (a) the Employee, in
consideration for such payments, shall execute and deliver to FrontLine and
the Company the general release attached hereto as Exhibit A-2, (b) the
Employee, in consideration for such payments, shall deliver the Age
Discrimination in Employment Act release attached hereto as Exhibit B-2, which
release shall be executed with a date of April 19, 2000 and delivered in
escrow to the Employee's attorney no later than April 20, 2000 and (c)
FrontLine and the Company shall execute and deliver to the Employee the
general release attached hereto as Exhibit C-2.

5.        Termination. Notwithstanding any other term or provision of this
Agreement to the contrary, in the event that (i) the employment of the
Employee is terminated for "cause" (as such term is defined in the Company's
1999 Stock Option Plan) or (ii) the Employee and/or Alan M. Langer seek(s)
appraisal rights in connection with the HQ Merger or otherwise oppose,
challenge, initiate or affirmatively join in or assist (except where such
assistance is required by law) any shareholder or other person in bringing any
action opposing, or seeking to alter any of the terms and provisions of, the
HQ Merger, then, in either case, (a) this Agreement shall automatically
terminate and become null and void for all purposes, (b) any amounts paid to
the Employee pursuant to this Agreement shall be repaid to the Company
immediately upon demand and (c) the Employee shall repay the Additional
Compensation to FrontLine immediately upon demand; provided, however, that if
another shareholder of the Company perfects appraisal rights and obtains a
higher per share price (the "Appraisal Price") for his shares of Common Stock
than the per share price to be paid for Common Stock under the Merger
Agreement, then the price to be paid to the Employee for his shares of Common
Stock shall be increased to the Appraisal Price.

6.        Resignation. The Employee hereby irrevocably and unconditionally
agrees for the benefit of FrontLine to resign from his position as a director
of the corporation surviving the HQ Merger immediately upon the written
request of FrontLine. In connection with the foregoing, the Employee,
concurrently with his execution and delivery of this Agreement, shall execute
and deliver to FrontLine the undated resignation letter (the "Resignation
Letter"), in the form attached hereto as Exhibit D, which provides for the
Employee's resignation from his position as a director of the corporation
surviving the HQ Merger. FrontLine shall have the right to deliver the
Resignation Letter concurrently with or at any time after the Effective Time
of the HQ Merger. If FrontLine shall have the right and elects to deliver the
Resignation Letter, (i) the Employee hereby irrevocably and unconditionally
authorizes FrontLine to date the Resignation Letter the date on which it is
delivered by FrontLine to the corporation surviving the HQ Merger and (ii)
FrontLine shall promptly provide the Employee with written notice that the
Resignation Letter has been so delivered. In the event the Merger Agreement is
terminated, the Resignation Letter shall immediately become null and void.

7.        Fees and Expenses. Each of the parties hereto shall pay his or
its own (and his or its representatives') fees and advances incurred in
connection with the negotiation, preparation, execution and delivery of this
Agreement and any other agreements or documents contemplated hereby or
thereby.

8.        Binding Agreement. This Agreement constitutes a binding agreement
among the parties hereto and supercedes all prior agreements or
understandings, written or oral, concerning the subject matter of this
Agreement. In connection with the execution and delivery of this Agreement,
none of the parties hereto has relied on any promise, statement,
understanding, representation, warranty, undertaking or other inducement of
any kind or nature, except as expressly set forth in this Agreement.

9.        Remedies. The parties hereto agree that damages may not be an
adequate remedy in the event of a breach or threatened breach of Section 3,
Section 4 or Section 5 of this Agreement. In the event of any such breach or
threatened breach by any party hereto, the other parties hereto shall be
entitled to equitable relief, including injunction and specific performance in
addition to all other remedies available at law or in equity.

10.       Severability. Wherever possible, each term and provision of this
Agreement shall be interpreted in such a manner as to be effective and valid
under applicable law, but if any term or provision of this Agreement shall be
prohibited by or invalid under such law, such term or provision shall be
ineffective to the extent of such prohibition or invalidity without
invalidating the remainder of such term or provision or the remaining terms
and provisions of this Agreement.

11.       Further Assurances. At any time, and from time to time after the
date hereof, each party shall, without further consideration and at its own
cost and expense, execute and deliver such additional agreements, instruments,
documents or certificates and take such further action as shall reasonably be
requested by any other party to this Agreement in order to carry out the
provisions of this Agreement.

12.       Assigns. Neither this Agreement nor any of the rights or
obligations of any party shall be assignable or transferable by such party
without the prior written consent of the other parties hereto. Subject to the
foregoing, this Agreement shall be binding upon and inure to the benefit of
the successors and permitted assigns of each party.

13.       Governing Law. This Agreement shall be governed by and construed
in accordance with the laws of the State of New York applicable to contracts
made and to be performed entirely in the State of New York.

14.       Amendments and Waivers. The provisions of this Agreement may not
be amended, modified or supplemented, and waivers or consents to departures
from the provisions of this Agreement may not be given without the written
consent of the parties hereto.

15.       Sophistication of Parties. Each of the parties to this Agreement
hereby represents and warrants to the other parties hereto that it has (i)
such knowledge and experience in financial and business matters such that it
is capable of evaluating the terms and provisions of this Agreement and (ii)
been represented by counsel of its choosing in connection with the negotiation
and execution of this Agreement.

16.       Construction. The parties hereto acknowledge that each party and
its counsel have reviewed and revised this Agreement and that the normal rule
of construction to the effect that any ambiguities are to be resolved against
the drafting party shall not be employed in the interpretation of this
Agreement.

17.       Notices. All notices, requests, demands and other communications
which are required to be given under this Agreement shall be in writing and
shall be deemed to have been duly given: (i) upon receipt if personally
delivered; (ii) one business day after being transmitted with confirmation of
transmission, if transmitted by telecopy or facsimile; (iii) one business day
after it is sent, if sent for next day delivery by a recognized overnight
courier service with signed receipt; and (iv) upon receipt, if sent by
certified or registered mail, return receipt requested. In each case notice
shall be sent to the address set forth on the signature page of this Agreement
or to such other address provided by a party by delivering appropriate notice.

18.       Counterparts. This Agreement may be executed in one or more
counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same agreement.
This Agreement may be executed and delivered via facsimile machine by the
parties, which shall be deemed for all purposes as original.

                           [SIGNATURE PAGE FOLLOWS]

          If the foregoing terms and conditions are satisfactory to you,
please signify your agreement thereto by signing and returning the enclosed
copy of this Agreement.

                                        Very truly yours,

                                        VANTAS Incorporated
                                        90 Park Avenue
                                        New York, New York 10016
                                        Tel:  212.907.6400
                                        Fax:  212.907.6533

                                        By:________________________________
                                           Name:
                                           Title:

Accepted and agreed to this
29th day of March 2000:

David W. Beale
3230 Hewlett Avenue
Merrick, New York 11566
Tel:  516.862.6240
Fax:  516.867.3613

By:________________________________

Agreed and accepted to solely for purposes
of Sections 3, 4 and 6 hereof this
29th day of March 2000:

FrontLine Capital Group
1350 Avenue of the Americas
New York, New York  10019
Tel:  212.931.8000
Fax:  212.931.8001

By:_______________________________
   Name:
   Title:Exhibit 10.3

                              VANTAS Incorporated

90 Park Avenue
New York, New York 10016

                                        March 29, 2000

Alan M. Langer
Strawberry Lane
Irvington, New York 10533

Dear Alan:

          This letter agreement (this "Agreement") sets forth the agreement of
the parties hereto with respect to the (i) disposition of the equity holdings
of Alan M. Langer (the "Employee") in VANTAS Incorporated, a Nevada
corporation (the "Company"), (ii) further amendment of the Employee's
employment agreement with the Company dated as of October 29, 1999, as amended
by an Agreement dated as of October 29, 1999 (the "October Agreement") among
the Employee, the Company and FrontLine Capital Group (f/k/a Reckson Service
Industries, Inc.), a Delaware corporation ("FrontLine"), and an Agreement
dated December 30, 1999 (the "December Agreement") among the Company,
FrontLine, the Employee and certain other executive officers of the Company
(as so amended by the October Agreement and the December Agreement, the
"Employment Agreement"; the October Agreement and the December Agreement are
hereinafter collectively referred to as the "Exchange Agreement"), (iii)
further amendment of the Fifth Amended and Restated Stockholders' Agreement
dated as of July 29, 1999, as amended by amendments thereto dated as of
November 22, 1999 and January 26, 2000, by and among the Company and the
Securityholders named therein (as so amended, the "Stockholders' Agreement")
and (iv) certain other matters set forth herein.

          The parties hereto, in exchange for good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, hereby agree as
follows:

1.        Disposition of Employee's Equity Securities.

(a)       The Employee hereby represents and warrants to each of the
Company and FrontLine that as of the date hereof he is the sole beneficial (as
such term is defined in Rule 13d-3 promulgated under the Securities Exchange
Act of 1934, as amended, or otherwise) and record owner of the following
equity securities of the Company: (i) Eighty Thousand (80,000) shares of Class
A Common Stock, par value $.01 per share ("Common Stock"), (ii) Seventy-Six
Thousand Two Hundred and Eighty-Seven (76,287) shares of Series A Convertible
Preferred Stock, par value $.01 per share ("Series A Stock"), (iii)
Twenty-Eight Thousand One Hundred and Fifty-Nine (28,159) shares of Series B
Convertible Preferred Stock, par value $.01 per share ("Series B Stock" and
collectively with the shares of Common Stock covered by clause (i) and the
shares of Series A Stock covered by clause (ii), the "Employee Shares"), (iv)
warrants (the "Warrants") to purchase in the aggregate Seven Thousand Six
Hundred and Twenty-Eight (7,628) shares of Common Stock at $1.7014 per share,
(v) options granted under the Company's 1996 Stock Option Plan to purchase in
the aggregate One Hundred Thirty-Three Thousand Two Hundred and Forty-Four
(133,244) shares of Common Stock at Two Dollars ($2) per share and (vi) option
granted under the Company's 1999 Stock Option Plan to purchase One Hundred
Thousand (100,000) shares of Common Stock at Six Dollars ($6) per share
(collectively with the options covered by clause (v), the "Options").

(b)       The Employee shall take all necessary action prior to the
Effective Time of the HQ Merger (as such terms are defined in the Merger
Agreement (as hereinafter defined)) to fully convert the shares of Series A
Stock and Series B Stock included within the Employee Shares into shares of
Common Stock. The Employee Shares, after giving effect to the conversion
contemplated by the immediately preceding sentence, shall be subject to and
purchased in accordance with the terms and provisions of the Merger Agreement
applicable to shares of Common Stock. For purposes of this Agreement, the term
"Merger Agreement" means that certain Agreement and Plan of Merger dated as of
January 20, 2000 by and among the Company and FrontLine (solely for purposes
of certain sections thereof), on the one hand, and HQ Global Workplaces, Inc.,
a Delaware corporation, and CarrAmerica Realty Corporation, a Maryland
corporation (solely for purposes of certain sections thereof), on the other
hand.

(c)       Immediately prior to the Effective Time of the HQ Merger, the
Employee shall deliver the execution originals of the agreements evidencing
the Warrants and Options to the Company and effect a cashless exercise (the
"Cashless Exercise") of all (but not less than all) of the Warrants and
Options to be calculated based on the price being paid for each share of
Common Stock in the HQ Merger. Assuming that the amount to be paid for each
share of Common Stock pursuant to the Merger Agreement is Eight Dollars ($8),
a Cashless Exercise of all of the Warrants and Options pursuant to this
Section 1(c) will result in the issuance of 130,937 shares of Common Stock
(the "Cashless Exercise Shares") which will be purchased under the Merger
Agreement for One Million Forty-Seven Thousand Four Hundred Ninety-Six Dollars
($1,047,496). The methodology utilized for calculating the number of Cashless
Exercise Shares and the payment due under the Merger Agreement on account
thereof based on an Eight Dollar ($8) per share purchase price is set forth on
Schedule I attached hereto. The number of and dollar amount to be paid for the
Cashless Exercise Shares set forth on Schedule I attached hereto is calculated
as follows: First, calculate the amount required to exercise the Warrants and
the Options in their entirety. Second, subtract such exercise price amount
from the amount which would be payable under the Merger Agreement for the
shares of Common Stock underlying all of the Warrants and the Options.
Finally, divide the amount resulting from such subtraction by the amount to be
paid for each share of Common Stock pursuant to the Merger Agreement. The
amount resulting from such division (which if not a whole number shall be
rounded up to the nearest whole number) represents the number of Cashless
Exercise Shares the Employee shall receive as a result of the Cashless
Exercise. The Cashless Exercise Shares shall be subject to and purchased in
accordance with the terms and provisions of the Merger Agreement applicable to
shares of Common Stock.

(d)       Concurrently with the Employee's receipt of the cash payment due
under the Merger Agreement on account of the Employee Shares and Cashless
Exercise Shares, the Employee shall repay all unpaid principal and accrued and
unpaid interest due under the Secured Term Promissory Note dated December 30,
1999 (the "1999 Note") in the principal amount of One Hundred Forty-Three
Thousand Five Hundred and Twelve Dollars ($143,512) by and between the
Employee, as maker, and the Company, as payee.

(e)       The Employee hereby represents and warrants to each of the
Company and FrontLine that (i) as of the date of this Agreement, the Employee
Shares, the Warrants and the Options constitute all of the equity securities
of, or other equity in, the Company owned beneficially or of record by the
Employee and (ii) in the event the HQ Merger is effected and the transactions
covered by Sections 1(b), 1(c) and 1(d) of this Agreement are consummated, the
Employee, upon the consummation of such transactions, shall not own
beneficially or of record equity or debt interests in or of the Company (or
its successor) of any kind or nature.

(f)       In the event that the Merger Agreement is terminated, (i)
Sections 1(b), 1(c) and 1(d) of this Agreement shall be of no further force
and effect, (ii) the 1999 Note shall be repaid by the Employee upon the
effective date of the termination of his employment with the Company and (iii)
the Employee shall continue to have, with respect to the Employee Shares,
Warrants and Options, his rights set forth under paragraph 2 of Schedule B
(the provisions of such Schedule B being hereinafter referred to as the
"VANTAS Long Term Incentive Plan") to the October Agreement, as such VANTAS
Long Term Incentive Plan has been approved by the Company's senior lenders or
as may in the future be approved by the Company's then existing senior lenders
(as of the date of this Agreement, the Company is permitted by its senior
lenders to spend up to Two Million Dollars ($2,000,000) per quarter and Eight
Million Dollars ($8,000,000) in the aggregate under the VANTAS Long Term
Incentive Plan).

2.        Employment Agreement.

(a)       The Employment Agreement is hereby amended as follows:

               (i)  Paragraph 1 of the Employment Agreement is amended and
                    restated in its entirety as follows:

          "Term of Employment. The Company hereby employs Executive, and
          Executive hereby accepts employment with the Company on the terms
          and conditions set forth in this Agreement for a term (the "Term")
          continuing until the earliest to occur of (i) the date on which the
          HQ Merger (as such term is defined in that certain Agreement and
          Plan of Merger dated as of January 20, 2000 (the "Merger Agreement")
          by and among the Company and FrontLine Capital Group (f/k/a Reckson
          Service Industries, Inc., a Delaware corporation ("FrontLine")
          (solely for purposes of certain sections thereof), on the one hand,
          and HQ Global Workplaces, Inc., a Delaware corporation, and
          CarrAmerica Realty Corporation, a Maryland corporation (solely for
          purposes of certain sections thereof), on the other hand) is
          effected, (ii) the termination of the Merger Agreement, (iii) June
          30, 2000 or (iv) the date on which Executive's employment is
          terminated pursuant to Paragraph 6 (the earliest of such dates, the
          "Termination Date")."

               (ii) Paragraph 2(a) of the Employment Agreement is amended and
                    restated in its entirety as follows:

          "Position. Executive shall report and be responsible to the Board of
          Directors of the Company, the Chairman of the Board and the Chief
          Executive Officer. During the Term, Executive's primary duties shall
          consist of serving on the HQ Merger transition team and assisting in
          the orderly transition of the Company's operations to the
          corporation surviving the HQ Merger in such manner as shall be
          reasonably requested by the Company. During the period prior to the
          HQ Merger, subject to the Employee's approval (which shall not be
          unreasonably withheld or delayed), the Employee shall also perform
          such other duties as the Board of Directors of the Company, the
          Chairman of the Board or the Chief Executive Officer from time to
          time may reasonably request. The Employee shall not be required to
          report to the Company's executive offices, except as may reasonably
          be requested by the Company with reasonable advance notice."

              (iii) Paragraph 2(b) of the Employment Agreement is amended and
                    restated in its entirety as follows:

          "No Other Employment. Subject to the other terms and provisions of
          this Agreement, including, without limitation, Paragraph 7,
          Executive shall not be precluded from engaging in other business
          activities prior to the Termination Date including, but not limited
          to, serving on the board of directors of other companies and on
          civic and charitable boards, managing his and his immediate family's
          investments and providing consulting services, in each case, so long
          as Executive remains reasonably available to the Company to perform
          the duties described in Paragraph 2(a)."

               (iv) Paragraph 3 of the Employment Agreement is amended and
                    restated in its entirety as follows:

          "Annual Payment. During the period commencing on January 1, 2000 and
          ending on the Termination Date, the Company shall, as compensation
          for Executive's services hereunder and as consideration for his
          covenants and agreements contained in Paragraph 7, make payments
          (the "Annual Payment") to Executive at the rate of Two Hundred Four
          Thousand Seven Hundred Dollars ($204,700) per annum. The Annual
          Payment shall be payable in such installments as is customary for
          executives of the Company."

               (v)  The language in Paragraph 4 of the Employment Agreement
                    preceding Paragraph 4(a) of the Employment Agreement is
                    deleted in its entirety.

               (vi) Paragraph 4(a) of the Employment Agreement is amended and
                    restated in its entirety as follows:

          "Performance Bonus. Executive shall receive a bonus of Seventy-Five
          Thousand Dollars ($75,000) on account of the fiscal year 1999 and a
          bonus of Six Thousand Five Hundred and Sixty-Three Dollars ($6,563)
          on account of the fiscal year 2000 (each a "Performance Bonus").
          Each Performance Bonus shall be paid to Executive on the Termination
          Date. In addition, Executive shall be entitled to receive a further
          bonus (the "Contingent Bonus") of Seventy-Five Thousand Dollars
          ($75,000) on account of the fiscal year 1999 in the event that the
          penalty of approximately Three Hundred Seventy-Seven Thousand
          Dollars ($377,000) assessed against the Company by the Internal
          Revenue Service during the first calendar quarter of the year 2000
          is reversed to an amount no greater than Seventy-Five Thousand
          Dollars ($75,000). If such a reversal occurs, the Contingent Bonus
          shall be paid to Executive within five (5) business days after the
          effective date of such reversal."

              (vii) Paragraph 4(b) of the Employment Agreement is amended and
                    restated in its entirety as follows:

          "No Further Compensation. Upon Executive's receipt of the payments
          contemplated by Paragraphs 3, 4(a), and, if applicable, 5(d) and 6,
          Executive shall not be entitled to any further payments from the
          Company under this Agreement."

             (viii) Paragraph 4(c) of the Employment Agreement is deleted in
                    its entirety.

               (ix) Paragraph 5(b) of the Employment Agreement is amended and
                    restated in its entirety as follows:

               "[Intentionally Omitted.]"

               (x)  Paragraph 6(a)(iii) of the Employment Agreement is amended
                    and restated in its entirety as follows:

               "'Good Reason' means either of the following: (A) the failure
               to pay in a timely manner any Annual Payment or Performance
               Bonus due to Executive hereunder that the Company fails to
               remedy within thirty (30) days after notice thereof by
               Executive, (B) a material breach by the Company of any
               provision of this Agreement that the Company fails to remedy or
               cease within thirty (30) days after notice thereof by Executive
               or (C) a reduction in the amount of the Annual Payment."

               (xi) Paragraph 6(b)(iv) of the Employment Agreement is amended
                    and restated in its entirety as follows:

               "by the Company at any time without Cause; or"

              (xii) Paragraph 6(b)(vi) of the Employment Agreement is deleted
                    in its entirety.

             (xiii) Paragraph 6(c)(i) of the Employment Agreement is amended
                    and restated in its entirety as follows:

               "If Executive's employment is terminated by reason of death or
               Disability, Executive (or his legal representative) shall be
               entitled (A) to receive any Annual Payment, Performance Bonus
               and Car Allowance accrued up to the date of termination which
               remains unpaid, (B) in the case of Disability, to continue to
               receive payments of Annual Payments for a period of 90 days
               following the effective date of termination by reason of
               Disability, but in no event beyond the date that payments under
               the Company's long-term disability policy commence, and (C) to
               be paid such disability or death benefits as are provided under
               any Company benefit plans in which Executive is a participant.
               Except as set forth in Paragraph 6(d), Executive shall not be
               entitled to any other or further compensation after the date of
               any such termination of employment."

              (xiv) Paragraph 6(c)(iii) of the Employment Agreement is
                    amended and restated in its entirety as follows:

               "If the employment of Executive is terminated by the Company
               without Cause, voluntarily terminated by Executive for Good
               Reason or Executive has remained in the employ of the Company
               through the earlier to occur of the date on which the HQ Merger
               is effected and June 30, 2000, Executive shall be entitled to
               receive (A) any Annual Payment, Performance Bonus and Car
               Allowance accrued up to the date of termination which remains
               unpaid and (B) on the Termination Date, an amount (without
               discount for present value) equal to the Annual Payment
               Executive would be entitled to receive had he continued to be
               employed by the Company during the period commencing on the
               effective date of the termination of Executive's employment
               without Cause or for Good Reason, or the Termination Date, as
               the case may be, and ending on December 31, 2001. Except as set
               forth in Paragraphs 6(d) and 6(e), Executive shall not be
               entitled to any other or further compensation after the date of
               any such termination of employment."

               (xv) Paragraph 6(c)(iv) of the Employment Agreement is deleted
                    in its entirety.

              (xvi) The penultimate and last paragraphs of Paragraph 8(a) of
                    the Employment Agreement are amended and restated in their
                    entirety as follows:

               "If to the Company:

                    VANTAS Incorporated
                    90 Park Avenue
                    New York, New York 10016
                    Attn: David J. Rupert
                    Fax: 212.907.6533

                    with a copy to:

                    Herrick, Feinstein LLP
                    2 Park Avenue
                    New York, New York 10016
                    Attn: Irwin A. Kishner
                    Fax: 212.889.7577

                    If to Executive:

                    Alan M. Langer
                    Strawberry Lane
                    Irvington, New York 10533
                    Fax: 914.591.8347

                    with a copy to:

                    Willkie Farr & Gallagher
                    787 Seventh Avenue
                    New York, New York 10019
                    Attn: Frank A. Daniele
                    Fax: 212.728.8111"

             (xvii) Paragraph 8(d) of the Employment Agreement is amended
                    and restated in its entirety as follows:

               "This Agreement, the Agreement dated as of October 29, 1999
               among the Employee, the Company and FrontLine, the Agreement
               dated December 30, 1999 among the Company, FrontLine, the
               Employee and certain other executive officers of the Company
               and the letter agreement dated March 29, 2000 among Executive,
               the Company and FrontLine constitutes the entire agreement
               between the parties with respect to the subject matter hereof,
               and supersedes all other written or oral negotiations or
               agreements with respect thereto."

(b)       Except as expressly modified by Section 2(a) of this Agreement,
all of the terms and provisions of the Employment Agreement shall remain in
full force and effect. In the event of any inconsistency or conflict between
the terms and provisions of this Agreement and the Employment Agreement, this
Agreement shall prevail.

(c)       Notwithstanding the terms and provisions of the Exchange
Agreement to the contrary, but subject to Section 5 of this Agreement, in the
event that the employment of the Employee is terminated by the Company, other
than for "cause" (as such term is defined in the Company's 1999 Stock Option
Plan), or if the Employee has remained in the employ of the Company through
the earlier to occur of the date on which the HQ Merger is effected or June
30, 2000, the Employee shall be relieved of his contingent obligation under
the Exchange Agreement to repay the Additional Compensation (as such term is
defined in the October Agreement).

(d)       The Company hereby confirms that the Employee, following the
termination of his employment with the Company, shall have (i) the
indemnification rights provided for in the Company's Amended and Restated
Articles of Incorporation and By-Laws and (ii) coverage under the Company's
Executive Protection Policy, in each case to the same extent as provided to
former officers of the Company.

(e)       Upon the termination of the Employee's employment with the
Company or the corporation surviving the HQ Merger, the Employee shall be
provided with a Drake Beam package as shall reasonably be agreed upon by the
Employee and the Company or the corporation surviving the HQ Merger.

(f)       In the event that the HQ Merger is effected, the Employee hereby
covenants that he shall not thereafter cause any third party (including,
without limitation any governmental authority) to bring, or assist (except
where such assistance is required by law) any such third party in bringing,
any legal proceeding of any kind or nature (whether by means of litigation,
arbitration, governmental proceeding or otherwise) against the corporation
surviving the HQ Merger, the Company, FrontLine and/or their respective
affiliates for any reason (other than the Company's breach of this Agreement
or the Employment Agreement (as amended by this Agreement)). In the event that
the Employee shall breach such covenant, he shall indemnify and hold harmless
each of the corporation surviving the HQ Merger, FrontLine and their
respective affiliates from and against any and all losses, liabilities,
damages and expenses (including, without limitation, reasonable attorneys'
fees and disbursements) incurred as a result of the claim brought by such
third party.

(g)       The Employee hereby acknowledges that, upon the termination of
his employment with the Company and the receipt of all payments to which he is
entitled pursuant to this Agreement, he shall, except as provided in Section
1(f) of this Agreement, have no further rights under the VANTAS Long Term
Incentive Plan or to any other compensation or benefits from the Company
(other than of those he is entitled to under the Company's health, disability,
life insurance and pension plans which are payable by the providers of such
plans and not the Company).

(h)       In the event that the employment of the Employee has been
terminated under Paragraph 6(c)(iii) of Employment Agreement (as amended by
this Agreement), the Company shall pay on the effective date of the
termination of the Employee's employment (i) an amount not to exceed Eleven
Thousand Two Hundred Sixty-One Dollars ($11,261) per calendar year (pro rated
to the effective date of the termination of the Employee's employment for the
calendar year 2000) relating to health insurance coverage through December 31,
2001 for the Employee and his immediate family and (ii) Seven Thousand Dollars
($7,000) in respect of premiums due under the Employee's Four Million Dollar
($4,000,000) individual life insurance policy for the calendar year 2001.

(i)       From and after the earlier to occur of (i) the date on which the
HQ Merger is effected or (ii) June 30, 2000, the Employee shall have the
right, at his sole cost and expense, to remove from his office the furniture
that was historically located therein during the course of the Employee's
employment.

(j)       To the extent that the Company and/or the corporation surviving
the HQ Merger is or are required to withhold any income or employment taxes
from any payment made to the Employee under this Agreement or the Employment
Agreement (as amended by this Agreement), such taxes shall be withheld at the
minimum rate required by law.

3.        Stockholders' Agreement. Subject to the last sentence of this
Section 3, the Employee hereby relinquishes all of his rights existing under
the Stockholders' Agreement and the terms and provisions of the Stockholders'
Agreement as they pertain to the Employee shall be deemed terminated and of no
further force and effect. The Employee shall execute all documents and take
such other action as may be requested by FrontLine, VANTAS and/or the
corporation surviving the HQ Merger in order to further evidence his agreement
to the terms and provisions of the immediately preceding sentence.
Notwithstanding the foregoing, in the event that the Merger Agreement is
terminated, all rights under the Stockholders' Agreement so relinquished by
the Employee shall be reinstated thereunder retroactively to the date of this
Agreement as if such relinquishment had not occurred insofar as concerns any
rights under the Stockholders' Agreement on a going forward basis from and
after the date of the termination of the Merger Agreement.

4.        Releases. In the event that the HQ Merger is effected, then on
the effective date of the HQ Merger (i) the Employee shall execute and deliver
to FrontLine and the corporation surviving the HQ Merger the general release
attached hereto as Exhibit A-1, (ii) the Employee shall deliver the Age
Discrimination in Employment Act release attached hereto as Exhibit B-1, which
release shall be executed with a date of April 19, 2000 and delivered in
escrow to the Employee's attorney no later than April 20, 2000 and (iii)
FrontLine and the corporation surviving the HQ Merger shall execute and
deliver to the Employee the general release attached hereto as Exhibit C-1. In
the event that the Merger Agreement is terminated, then on the effective date
of the termination of the Employee's employment with the Company under
circumstances which entitle him to the payments described in Paragraph
6(c)(iii) of the Employment Agreement (as amended by this Agreement) (a) the
Employee, in consideration for such payments, shall execute and deliver to
FrontLine and the Company the general release attached hereto as Exhibit A-2,
(b) the Employee, in consideration for such payments, shall deliver the Age
Discrimination in Employment Act release attached hereto as Exhibit B-2, which
release shall be executed with a date of April 19, 2000 and delivered in
escrow to the Employee's attorney no later than April 20, 2000 and (c)
FrontLine and the Company shall execute and deliver to the Employee the
general release attached hereto as Exhibit C-2.

5.        Termination. Notwithstanding any other term or provision of this
Agreement to the contrary, in the event that (i) the employment of the
Employee is terminated for "cause" (as such term is defined in the Company's
1999 Stock Option Plan) or (ii) the Employee and/or David W. Beale seek(s)
appraisal rights in connection with the HQ Merger or otherwise oppose,
challenge, initiate or affirmatively join in or assist (except where such
assistance is required by law) any shareholder or other person in bringing any
action opposing, or seeking to alter any of the terms and provisions of, the
HQ Merger, then, in either case, (a) this Agreement shall automatically
terminate and become null and void for all purposes, (b) any amounts paid to
the Employee pursuant to this Agreement shall be repaid to the Company
immediately upon demand and (c) the Employee shall repay the Additional
Compensation to FrontLine immediately upon demand; provided, however, that if
another shareholder of the Company perfects appraisal rights and obtains a
higher per share price (the "Appraisal Price") for his shares of Common Stock
than the per share price to be paid for Common Stock under the Merger
Agreement, then the price to be paid to the Employee for his shares of Common
Stock, Series A Stock and Series B Stock shall be increased to the Appraisal
Price.

6.        Fees and Expenses. Each of the parties hereto shall pay his or
its own (and his or its representatives') fees and advances incurred in
connection with the negotiation, preparation, execution and delivery of this
Agreement and any other agreements or documents contemplated hereby or
thereby.

7.        Binding Agreement. This Agreement constitutes a binding agreement
among the parties hereto and supercedes all prior agreements or
understandings, written or oral, concerning the subject matter of this
Agreement. In connection with the execution and delivery of this Agreement,
none of the parties hereto has relied on any promise, statement,
understanding, representation, warranty, undertaking or other inducement of
any kind or nature, except as expressly set forth in this Agreement.

8.        Remedies. The parties hereto agree that damages may not be an
adequate remedy in the event of a breach or threatened breach of Section 3,
Section 4 or Section 5 of this Agreement. In the event of any such breach or
threatened breach by any party hereto, the other parties hereto shall be
entitled to equitable relief, including injunction and specific performance in
addition to all other remedies available at law or in equity.

9.        Severability. Wherever possible, each term and provision of this
Agreement shall be interpreted in such a manner as to be effective and valid
under applicable law, but if any term or provision of this Agreement shall be
prohibited by or invalid under such law, such term or provision shall be
ineffective to the extent of such prohibition or invalidity without
invalidating the remainder of such term or provision or the remaining terms
and provisions of this Agreement.

10.       Further Assurances. At any time, and from time to time after the
date hereof, each party shall, without further consideration and at its own
cost and expense, execute and deliver such additional agreements, instruments,
documents or certificates and take such further action as shall reasonably be
requested by any other party to this Agreement in order to carry out the
provisions of this Agreement.

11.       Assigns. Neither this Agreement nor any of the rights or
obligations of any party shall be assignable or transferable by such party
without the prior written consent of the other parties hereto. Subject to the
foregoing, this Agreement shall be binding upon and inure to the benefit of
the successors and permitted assigns of each party.

12.       Governing Law. This Agreement shall be governed by and construed
in accordance with the laws of the State of New York applicable to contracts
made and to be performed entirely in the State of New York.

13.       Amendments and Waivers. The provisions of this Agreement may not
be amended, modified or supplemented, and waivers or consents to departures
from the provisions of this Agreement may not be given without the written
consent of the parties hereto.

14.       Sophistication of Parties. Each of the parties to this Agreement
hereby represents and warrants to the other parties hereto that it has (i)
such knowledge and experience in financial and business matters such that it
is capable of evaluating the terms and provisions of this Agreement and (ii)
been represented by counsel of its choosing in connection with the negotiation
and execution of this Agreement.

15.       Construction. The parties hereto acknowledge that each party and
its counsel have reviewed and revised this Agreement and that the normal rule
of construction to the effect that any ambiguities are to be resolved against
the drafting party shall not be employed in the interpretation of this
Agreement.

16.       Notices. All notices, requests, demands and other communications
which are required to be given under this Agreement shall be in writing and
shall be deemed to have been duly given: (i) upon receipt if personally
delivered; (ii) one business day after being transmitted with confirmation of
transmission, if transmitted by telecopy or facsimile; (iii) one business day
after it is sent, if sent for next day delivery by a recognized overnight
courier service with signed receipt; and (iv) upon receipt, if sent by
certified or registered mail, return receipt requested. In each case notice
shall be sent to the address set forth on the signature page of this Agreement
or to such other address provided by a party by delivering appropriate notice.

17.       Counterparts. This Agreement may be executed in one or more
counterparts, each of which when so executed shall be deemed to be an original
and all of which taken together shall constitute one and the same agreement.
This Agreement may be executed and delivered via facsimile machine by the
parties, which shall be deemed for all purposes as original.

                           [SIGNATURE PAGE FOLLOWS]

          If the foregoing terms and conditions are satisfactory to you,
please signify your agreement thereto by signing and returning the enclosed
copy of this Agreement.

                                   Very truly yours,

                                   VANTAS Incorporated

                                   90 Park Avenue
                                   New York, New York  10016
                                   Tel:  212.907.6400
                                   Fax:  212.907.6533

                                   By:____________________________
                                      Name:
                                      Title:

Accepted and agreed to this
29th day of March 2000:

Alan M. Langer
Strawberry Lane
Irvington, New York 10533
Tel:  914.591.8325
Fax:  914.591.8347

By:_____________________________

Agreed and accepted to solely for purposes
of Section 3 and 4 hereof this 29th
day of March 2000:

FrontLine Capital Group
230 Park Avenue
New York, New York  10169
Tel:  212.931.8000
Fax:  212.931.8001

By:_____________________________
      Name:
      Title:

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