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                                                                    Exhibit 10.2

                                                                  EXECUTION COPY
                                                                  --------------

                                                As of October 1, 2001

Mr. Robert Annunziata
95 Minisink Road
Short Hills, NJ 07078

Dear Bob:

         This letter ("Letter Agreement") will confirm the terms of the profit
participation arrangement between you and Odyssey Investment Partners Fund, LP,
Odyssey Coinvestors, LLC, PF Telecom Holdings, LLC, Koch Telecom Ventures, Inc.,
Cisco Systems, Inc., First Union Capital Partners, LLC and UBS Capital II, LLC
(individually a "Shareholder" and, collectively the "Shareholders"). Each
Shareholder shall be individually liable for its obligation hereunder and in no
event shall there be any joint liability or any liability of Velocita
Corporation (the "Company"). All references to Shareholder(s) (other than with
regard to any payment obligation hereunder) shall mean the Shareholder(s) and
its affiliates.

         Subject to the provisions of this Letter Agreement, you will be
eligible to receive five percent (5%) of the Profit (as defined below) of each
Shareholder upon the completion of a Transaction or series of related
Transactions (as defined below) (the "Payment") provided you are employed by the
Company or as otherwise provided herein.

         Profit shall mean the Proceeds (as defined below) received by a
Shareholder for its equity investment (after repayment of all debt securities or
other debt investments of such Shareholders in the Company (including accrued
interest on debt investments or debt securities, but not on preferred stock
investments) and if any debt is not paid in full for purposes of this Letter
Agreement, a portion of the equity Proceeds shall be deemed repayment of the
unpaid debt and not included in the calculation of Profit) in the Company in
connection with a Transaction minus the Shareholder's original equity investment
("Cost Basis"). If a Shareholder invests additional money in the Company, its
debt or Cost Basis shall be increased as appropriate by the actual dollar amount
invested. The Company will provide you with a letter that provides examples of
the Cost Basis for several of the Shareholders and, each Shareholder's
investment in the Company.

         Transaction means (i) a merger with a bona fide third party (other than
current investors and debt holders and their affiliates) that has been approved
by the Board of Directors of the Company (the "Board"), or (ii) a sale of stock
by the Company or the Shareholders or sale of all or substantially all of the
assets of the Company in one or a series of related transactions to a bona fide
thirty party (other than current investors and debt holders and their
affiliates) that, in either case, has been approved by the Board or (iii) an
initial public offering of the Company that, in any case, results in each
Shareholder receiving value in excess of the Cost Basis. No

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other transaction shall be deemed a Transaction entitling you to Payment
hereunder.

         Proceeds shall mean cash, cash equivalents or equity or debt securities
of any kind (including securities that are retained by the Shareholders after a
Transaction). Proceeds will be valued as follows: (i) cash or cash equivalents
will be valued when received by the Shareholders, (ii) publicly traded
securities will be valued when any blockage on trading of such securities is
removed and (iii) private securities will be valued at the earliest of (x) the
time at which such securities become publicly traded without blockage, or (y)
with regard to the sold securities, when a Shareholder sells such securities or
(z) three (3) years after receipt by the Shareholders of private securities,
provided, however, each Shareholder reserves the right to in lieu of the
foregoing, value the Proceeds when they are received and, if applicable make
Payment to you. In the event of a valuation described in (iii) above where there
is not a public market for the securities and such securities have not been sold
for cash, cash equivalents or publicly traded securities and, your disagreement
with the applicable Shareholder as to the valuation, the applicable Shareholder
shall select, subject to your consent (which consent shall not be unreasonably
withheld), an investment bank or appraiser (such investment bank or appraiser
shall not be a Shareholder) to determine the appropriate valuation. The
applicable Shareholder(s) shall equally bear the cost of the aforementioned
valuation.

         The Payment will be paid to you when the Shareholders receive the
Proceeds from the Transaction and they have been valued as provided in the
preceding paragraph, provided that if you become entitled to a Payment based on
a partial valuation you shall receive a partial Payment. The Payment will be
made to you in the proportionate manner and form of the consideration the
Shareholder receives from the Transaction (other than any demand registration
rights, but including any limitations that apply to the Shareholders with regard
to the applicable Proceeds) or, in the discretion of the Shareholder, cash in
whole or in part.

         You will only receive the Payment if:

         (a) you are employed by the Company at the time of execution of the
contract for the Transaction or, you incurred within one (1) year prior to the
execution of such contract, a termination of employment by the Company without
Cause, you voluntarily resigned for Good Reason or your employment was
terminated on December 31, 2002 as a result of non-renewal of the Employment
Term (as each such term is defined in the employment letter entered into between
you and the Company dated as of October 1, 2001 (the "Employment Letter")) by
the Company (i.e., while you were willing to continue to work on the same basis
as provided in the Employment Letter (other than your right to the sign-on bonus
and any other provision not applicable by its terms));

         (b) you fulfill your obligations under the Employment Letter,
including, without limitation, the required employment period; and

         (c) the Transaction thereafter closes.

         Notwithstanding the foregoing, if your employment is terminated by the
Company without Cause, by you for Good Reason or as a result of any non-renewal
of the Employment

                                       2
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Term, you will receive forty percent (40%) of the Payment if a contract is
executed during the period commencing (x) in the case of a termination covered
by (a) above, one (1) year after termination and (y) in the case of a
non-renewal of the Employment Term not covered by (a), upon your termination of
employment and ending on the five (5) year anniversary of the date hereof,
provided that the Transaction closes.

         Notwithstanding the execution of any contract, no Payment shall be paid
to you unless and until the closing of a Transaction. If you do not satisfy the
above provisions, you shall in no event be entitled to any Payment hereunder
whatsoever.

         You acknowledge and agree that if you violate any of the
Confidentiality Provisions or Non-Solicitation Provisions (as each term is
defined in the Employment Letter) you will forfeit your right to any Payment.

         This Letter Agreement may be amended only by a written document signed
by all parties hereto. The Company may withhold from any and all amounts payable
to you such federal, state and local taxes as may be required to be withheld
pursuant to any applicable laws or regulations.

         This Letter Agreement shall be governed by the laws of the state of New
York, without reference to rules relating to conflict of laws. Any dispute shall
be settled by arbitration under the rules of the American Arbitration
Association in New York City, New York. The decision of the arbitrator shall be
final and binding and may be entered in any court of competent jurisdiction. All
of your reasonable fees and expenses in such arbitration will be paid by the
Company if the arbitrator determines that you have prevailed on substantially
all items. Otherwise each party shall bear its own costs and expenses and
equally share the charges of the AAA and the arbitrator.

         Whether or not to enter into, or close, a Transaction shall be the sole
discretion of the Company and the Shareholders and, you shall have no claim
against the Company or the Shareholders as a result of any business decision
whether or not to enter into a Transaction, the terms of a Transaction, cancel a
Transaction before it is completed or, to pursue, not pursue or settle any claim
against any person or entity who fails to complete a prospective Transaction nor
as a result of any decision to hold or sell securities or to agree on any
transfer or blockage limitations.

         As of the date of execution of this Letter Agreement, the Company
hereby represents that it, in its good faith belief, the requisite seventy-five
percent (75%) shareholder approval pursuant to Section 280G of the Internal
Revenue Code of 1986, as amended, has been obtained with regard to this Letter
Agreement in accordance with the methodology described in proposed Treasury
Regulation Section 1.280G-1.

         This Letter Agreement may be signed in counterparts, each of which will
be an original, with the same effect as if the signatures thereto and hereto
were upon the same instrument.

         Please indicate your agreement to the foregoing by signing this Letter
Agreement in the space provided below.

                                       3
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                            [CONTINUED ON NEXT PAGE]

                                       4
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         IN WITNESS WHEREOF, the parties hereto have duly executed this Letter
Agreement as of the 1st day of October, 2001.

                                           Odyssey Investment Partners Fund, LP

                                           By: /s/ Brian Kwait
                                               --------------------------

                                           Odyssey Coinvestors, LLC

                                           By: /s/ Brian Kwait
                                               --------------------------

                                           PF Telecom Holdings, LLC

                                           By: /s/ Steven Irwin
                                               --------------------------

                                           Koch Telecom Ventures, Inc.

                                           By: /s/ John C. Pittenger
                                               --------------------------

                                           Cisco Systems, Inc.

                                           By: /s/ Daniel Scheinman
                                               --------------------------

                                           UBS Capital II, LLC

                                           By: /s/ Charles Moore
                                               --------------------------

                                           First Union Capital Partners, LLC

                                           By: /s/ Steven Columbaro
                                               --------------------------

                                       5
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                                           Agreed To:

                                           /s/ Robert Annunziata
                                           --------------------------
                                           Robert Annunziata

                                       6Prepared by MERRILL CORPORATION

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Exhibit 10.1  

 
 

TENTH AMENDMENT TO
  FIRST AMENDED AND RESTATED
  WAREHOUSING CREDIT AND SECURITY AGREEMENT    
  

THIS
TENTH AMENDMENT TO FIRST AMENDED AND RESTATED WAREHOUSING CREDIT AND SECURITY AGREEMENT (this "Amendment") is entered into as of this 1 st day of August, 2001, by and between MONUMENT MORTGAGE,
INC., a California corporation ("Borrower") and RESIDENTIAL FUNDING CORPORATION, a Delaware corporation ("Lender"). 

WHEREAS,
Borrower and Lender have entered into a single family revolving warehouse facility with a present Commitment Amount of $25,000,000, to finance Mortgage Loans as evidenced by a First Amended
and Restated Promissory Note in the principal sum of $85,000,000 dated as of August 22, 2000 (the "Note"), and by a First Amended and Restated Warehousing Credit and Security Agreement dated as of
August 9, 1999, as the same may have been amended or supplemented (the "Agreement"); and 

WHEREAS,
Borrower has requested that Lender extend the period for which the Commitment under the Agreement has been made and amend certain other terms of the Agreement, and Lender has agreed to such
extension of the Agreement and amendment of the Agreement, subject to the terms and conditions of this Amendment. 

NOW,
THEREFORE, for and in consideration of the foregoing and of the mutual covenants, agreements and conditions hereinafter set forth and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

    1.
The effective date ("Effective Date") of this Amendment is August 1, 2001. 

    2.
All capitalized terms used herein and not otherwise defined have their respective meanings set forth in the Agreement. 

    3.
Section 1.1 of the Agreement is amended to delete the following definitions in their entirety, replacing them with the following definitions: 

"Commitment Amount" means $15,000,000. 

"Maturity Date" means the earlier of: (a) the close of business on November 30, 2001, as such date may be extended from time to time in writing by
Lender, in its sole discretion, on which date the Commitment will expire of its own term, and without the necessity of action by Lender, and (b) the date the Advances become due and payable pursuant
to Section 8.2 below. 

    4.
Section 2.1(a) of the Agreement is deleted in its entirety and replaced with the following: 

    2.1(a)
Subject to the terms of this Agreement and provided no Default or Event of Default has occurred and is continuing, the Lender agrees from time to time during the period from
the Closing Date to, and including October 31, 2001, to make Advances to the Borrower, provided the total aggregate principal amount outstanding at any one time of all such Advances shall not exceed
the Commitment Amount. The obligation of the Lender to make Advances hereunder up to the Commitment Amount is hereinafter referred to as the "Commitment." Within the Commitment, the Borrower may
borrow, repay and reborrow. All Advances under this Agreement shall constitute a single indebtedness, and all of the Collateral shall be security for the Note and for the performance of all the
Obligations. 

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    5.
Section 2.5(j) of the Agreement is deleted in its entirety and the following is substituted in lieu thereof: 

    2.5(j)
Borrower shall prepay a portion of the Advances outstanding under this Agreement in an amount not less than $1,000,000 (a
"Buydown"). The Buydown is a reduction in the aggregate amount of the Advances outstanding under this Agreement, but does not represent the prepayment
of any particular
Advance, and does not entitle Borrower to the release of any Collateral. If Lender receives a payment of Advances that would, as a result of the Buydown by Borrower, reduce the outstanding principal
balance of the Advances to an amount less than zero, the Buydown, or a portion of the Buydown equal to such excess will be re-advanced to Borrower. Lender may apply Buydowns to reduce interest payable
by Borrower on outstanding Advances in any order that Lender determines in its sole discretion. 

    6.
Section 7.9 of the Agreement is deleted in its entirety and the following is substituted in lieu thereof: 

    Section
7.9.  Minimum Cash and Cash Equivalents.  Permit the Cash and Cash Equivalents of Borrower
(including the Buydown) at any time to be less than $3,500,000. 

    7.
Section 8.1(n) of the Agreement is deleted in its entirety and replaced with the following: 

    8.1(n)
Diogo Abreu shall cease to be the Vice Chairman of Borrower; or 

    8.
Borrower is in Default under Section 8.1(r) of the Agreement as a result of Guarantor's failure to comply with the Permitted Cumulative Loss requirement. A breach of Section 8.1(r)
is an immediate Event of Default entitling the Lender to exercise all rights it has under the Agreement and the Loan Documents delivered in connection with the Agreement, including the right to cease
making Advances to Borrower and the right to accelerate the Obligations. Borrower has requested and Lender hereby agrees to forbear from exercising its rights with respect to the Event of Default
described above or any subsequent breach of Section 8.1(r), subject to the following: 

	a.
	Guarantor's
monthly net loss, on a non-cumulative basis, does not exceed $500,000; and

	b.
	No
additional Default or Event of Default occurs. 

This
is not an agreement to forbear any other Defaults or Events of Default. The Lender expressly reserves all rights and remedies available to it under the Loan Documents. 

    9.
The Borrower is in Default under Section 8.1(n) of the Agreement as a result of the resignation of Rick Cossano as the Chief Executive Officer of the Guarantor. Borrower has
requested, and Lender hereby agrees, to waive its Default rights with respect to the requirement that Rick Cossano remain as the Chief Executive Officer of Guarantor as set forth in Section 8.1(n) of
the Agreement. The foregoing waiver applies only to the specific instance described herein. It is not a waiver of any
subsequent breach of Section 8.1(n), as amended hereby, or any breach of any other provisions of the Agreement. 

    10.  Exhibit I-SF to the Agreement is hereby deleted in its entirety and replaced with the new  Exhibit I-SF attached to this Amendment. All references in the Agreement to Exhibit
I-SF shall be deemed to refer to the new Exhibit I-SF. 

    11.
Exhibit M to the Agreement is hereby deleted in its entirety and replaced with the new  Exhibit M attached to this Amendment. All references in
the Agreement to Exhibit
M shall be deemed to refer to the new Exhibit M

2

 

    12. Borrower must deliver to Lender (a) an executed original of this Amendment; (b) an executed Certificate of Secretary with corporate resolutions; (c) a $7,500
extension fee; and (d) a $350 document production fee. 

    13.
Borrower represents, warrants and agrees that (a) except as stated above, there exists no Default or Event of Default under the Loan Documents, (b) the Loan Documents
continue to be the legal, valid and binding agreements and obligations of Borrower enforceable in accordance with their terms, as modified herein, (c) Lender is not in default under any of the Loan
Documents and Borrower has no offset or defense to its performance or obligations under any of the Loan Documents, (d) the representations contained in the Loan Documents remain true and accurate in
all material respects, and (e) there has been no material adverse change in the financial condition of Borrower from the date of the Agreement to the date of this Amendment. 

    14.
Except as hereby expressly modified, the Agreement is otherwise unchanged and remains in full force and effect, and Borrower ratifies and reaffirms all of its obligations
thereunder. 

    15.
This Amendment may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which when so executed and delivered will be an
original, but all of which will together constitute one and the same instrument. 

IN
WITNESS WHEREOF, Borrower and Lender have caused this Amendment to be duly executed on their behalf by their duly authorized officers as of the day and year above written. 

	 	 	MONUMENT MORTGAGE, INC.,

a California corporation
	

 	
 	

By:	
 	

 
	 	 	 	 	

	

 	
 	

Its:	
 	

 
	 	 	 	 	

	

 	
 	

RESIDENTIAL FUNDING CORPORATION,

a Delaware corporation
	

 	
 	

By:	
 	

 
	 	 	 	 	

	

 	
 	

Its:	
 	

 
	 	 	 	 	

3

 
 
 

CONSENT OF GUARANTOR    
  

    The undersigned, being the Guarantor under the Guaranty dated as of August 9, 1999, hereby consents to the foregoing Amendment and the transactions
contemplated thereby and hereby modifies and reaffirms its obligations under its Guaranty so as to include within the term "Guaranteed Debt" the indebtedness, obligations and liabilities of Borrower
under this Amendment and the Note. The Guarantor hereby reaffirms that its obligations under its Guaranty are separate and distinct from Borrower's obligations to Lender, and that its obligations
under the Guaranty are in full force and effect, and hereby waives and agrees not to assert any anti-deficiency protections or other rights as a defense to its obligations under the Guaranty, all as
more fully set forth in the Guaranty, the terms of which are incorporated herein as if fully set forth herein. 

	Dated:	 	 	 	 	 	 
	 	 	
	 	 	 	 
	

 	
 	

 	
 	

FiNET.COM, INC.,

a Delaware corporation
	

 	
 	

 	
 	

By:	
 	

 
	 	 	 	 	 	 	

	

 	
 	

 	
 	

Its:	
 	

 
	 	 	 	 	 	 	

4

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TENTH AMENDMENT TO FIRST AMENDED AND RESTATED WAREHOUSING CREDIT AND SECURITY AGREEMENT

CONSENT OF GUARANTOR

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