Document:

EXHIBIT 10.5

 

EXHIBIT 10(5)

AGREEMENT

         AGREEMENT dated as of January 1, 2002 (the “Agreement”) between PFIZER
INC., a Delaware corporation (the “Company”), and JEFFREY B. KINDLER (the
“Executive”).

         WHEREAS, the Company wishes to employ the Executive as its Senior Vice
President and General Counsel; and

         WHEREAS, the Company wishes to provide the benefits under this Agreement as
an inducement for the Executive to enter into such employment; and

         WHEREAS, the Executive wishes to enter into such employment on the
condition that the Company provide the benefits under this Agreement;

         NOW, THEREFORE, the Company and the Executive hereby agree as follows:

1.     Benefits Upon a Qualifying Termination. If the Executive’s employment with
the Company is terminated by the Company without Cause (as hereinafter defined)
or by the Executive for Good Reason (as hereinafter defined) at any time prior
to January 1, 2005 (a “Qualifying Termination”), the Executive shall be entitled
to payment of the benefits set forth below:

	 	(i)	 	A lump sum amount equal to the sum of (a) his unpaid base salary,
if any, through the Date of Termination (as hereinafter defined) at
the rate in effect on the Date of Termination; plus (b) a prorated
portion, based on the number of calendar months (either whole or
partial) in the year through the Date of Termination divided by 12, of
his Annual Incentive Compensation. For the purpose of this Agreement,
“Annual Incentive Compensation” shall mean the greater of (x) the
amount of the annual incentive award, if any, paid to the Executive in
respect of the year immediately preceding the year in which the Date
of Termination occurs or (y) the target amount of the annual incentive
award for the Executive for the year in which the Date of Termination
occurs; plus
	 
	 	(ii)	 	A lump sum amount equal to the sum of (a) one full year’s base
salary at the rate in effect on the Date of Termination; plus (b) his
Annual Incentive Compensation.

The amount of base salary and target amount of annual incentive award shall be
determined without regard to any reduction described in Section 6(ii) below. The
benefits provided under this Agreement shall be in addition to any compensation
and benefits to which the Executive may be

 

 

entitled under any other agreement, plan or program of the Company, except as
expressly provided in Section 8 below.

2.     Notice of Termination. The termination by the Company or the Executive of the
Executive’s employment for any reason shall be communicated by a written notice
of termination (a “Notice of Termination”) to the other party in accordance with
Section 10 hereof. The Notice of Termination shall set forth in reasonable
detail the facts and circumstances providing a basis for the termination,
including, if applicable, the facts and circumstances supporting a claim of
termination for Cause by the Company or a claim of termination for Good Reason
by the Executive.

3.     Date of Termination. The termination of the Executive’s employment shall be
effective on the date set forth in the Notice of Termination, which date shall
not be later than 30 days after the date on which the Notice of Termination is
received or deemed received by the other party in accordance with Section 10
hereof, or such other date as the parties hereto may agree upon in writing (the
“Date of Termination”).

4. Date of Payment.

(i)  The benefits provided for in Section 1 hereof in the event of a Qualifying
Termination shall be paid by the Company within 30 days following the Date of
Termination, subject to subsection (ii) of this Section 4.

(ii)  The party receiving the Notice of Termination shall have the right to
notify the other party in accordance with Section 10 hereof, within 5 days
following the date on which the Notice of Termination is received or deemed
received, that a dispute exists concerning the grounds for termination. In such
event, the parties shall proceed to resolve the dispute by written agreement, by
binding arbitration or by a final judgment, order or decree of a court of
competent jurisdiction (which is not appealable or the time for appeal therefrom
shall have expired and no appeal shall have been perfected). If such dispute is
resolved with a final determination that the Executive is entitled to the
benefits provided in Section 1 hereof, such benefits shall be paid, with
interest accumulating from the Date of Termination at the prime rate as
published in The Wall Street Journal, within 15 days following the date on which
such dispute is finally resolved.

5.     Definition of Cause. For purposes of this Agreement, “Cause” shall mean the
Executive’s willful breach of duty in the course of his employment or his
willful habitual neglect of his employment duties. For purposes of this Section
5, no act, or failure to act, on the Executive’s part shall be deemed “willful”
unless done, or omitted to be done, by the Executive not in good faith and
without reasonable belief that his action or omission was in the best interests
of the Company. Notwithstanding the

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foregoing, the Executive shall not be deemed to have been terminated for Cause
unless and until there shall have been delivered to the Executive a copy of a
resolution adopted by the affirmative vote of not less than three-fourths of the
entire membership of the Board of Directors of the Company at a meeting of the
Board called and held for such purpose (after reasonable notice to the Executive
and an opportunity for him, together with his counsel, to be heard before the
Board), finding that in the good faith opinion of the Board the Executive had
committed the breach or neglect of duty described above in this Section 5 and
specifying the particulars thereof in detail.

6.     Definition of Good Reason. For purposes of this Agreement, “Good Reason”
shall mean the occurrence, without the Executive’s written consent, of any of
the following circumstances unless, in the case of subsections (i), (iii), (iv),
and (v) of this Section 6, such circumstances are fully corrected within ten
(10) business days after written notice thereof to the Company from the
Executive:

	(i)	 	the assignment to the Executive of any duties inconsistent with his
status as Senior Vice President and General Counsel of the Company, his
removal from that position or a substantial diminution in the nature or
status of his responsibilities;
	 
	(ii)	 	a reduction by the Company of the Executive’s target total annual
compensation (sum of annual base salary plus target annual incentive
award) as in effect on the date hereof or as the same may be increased
from time to time;
	 
	(iii)	 	the failure by the Company to pay or provide to the Executive any
compensation when due;
	 
	(iv)	 	the failure by the Company to continue in effect any incentive
compensation plan in which the Executive participates on the date hereof
or hereafter, unless an equitable alternative compensation arrangement
(embodied in an ongoing substitute or alternative plan) has been provided
for the Executive; or the failure by the Company to continue the
Executive’s participation in any such incentive plan on the same basis,
both in terms of the amount of benefits provided (except if the
Executive’s benefits are reduced as a result of the Company’s reduction
of benefits provided to all participants covered by such plan) and the
level of the Executive’s participation relative to other participants, as
existed immediately prior to such failure;
	 
	(v)	 	except as required by law, the failure by the Company to continue to
provide the Executive with benefits at least as favorable as those
enjoyed by the Executive immediately prior to such failure under the
employee benefit and welfare plans of the Company, including, without
limitation, the pension, life insurance, medical, dental, health and
accident, disability, deferred compensation retirement and savings plans,
in which the Executive was participating immediately prior to such
failure (except if the Executive’s benefits

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	 	 	are reduced as a result of the Company’s reduction of benefits provided
to all participants covered by such plan or plans); the taking of any
action by the Company which would directly or indirectly materially
reduce any of such benefits or deprive the Executive of any material
fringe benefit enjoyed by the Executive immediately prior to the taking
of such action (except if the Executive’s benefits or fringe benefits are
reduced as a result of the Company’s reduction of benefits or fringe
benefits to all employees who receive them); or the failure by the
Company to provide the Executive with the number of paid vacation days to
which he was entitled immediately prior to such failure; or
	 
	(vi)	 	the purported termination of the Executive’s employment which is not
effected pursuant to a Notice of Termination satisfying the requirements
of Section 2 above, and for purposes of this Agreement, no such purported
termination shall be effective.

The Executive’s continued employment shall not constitute consent to, or a
waiver of rights with respect to, any circumstances constituting “Good Reason”
hereunder.

7.     Limited Circumstances in Which Benefits are Payable Hereunder. No benefits
shall be payable under this Agreement in the event that the Executive’s
employment with the Company ceases for any reason other than termination by the
Company without Cause or by the Executive for Good Reason. Without limiting the
generality of the foregoing, no benefits shall be payable hereunder in the event
that the Executive’s employment with the Company ceases as the result of
termination by the Company for Cause, termination by the Executive other than
for Good Reason, or the death or disability of the Executive. In the case of
termination of the Executive’s employment as a result of the death or disability
of the Executive, benefits will be provided in accordance with the Company’s
compensation and benefit plans in which the Executive participated immediately
prior to his termination of employment.

8.     Benefits in Event of a Change in Control. The benefits provided under this
Agreement will be reduced by any benefits that may be paid under other
agreements or arrangements as a result of termination of the Executive’s
employment following a change in control of the Company that occurs during the
term of this Agreement.

9.     Legal Fees and Expenses. The Company promptly shall reimburse the Executive
for all legal fees and expenses reasonably incurred by him in contesting or
disputing the nature of any termination of employment for purposes of this
Agreement or in seeking to obtain or enforce any right or benefit provided by
this Agreement.

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10.     Notices. All notices, requests, demands and other communications hereunder
shall be in writing and shall be deemed to have been duly given by the party
giving such notice or other communication and to have been duly received by the
other party (i) on the date on which such notice or other communication shall be
delivered by hand to and receipted for by such other party, or (ii) three New
York business days after the date on which such notice or other communication
shall be mailed by registered or certified mail with postage prepaid:

	 	 	 	 	 	 	 
	 	 	
(i)
	 	If to the Executive, to:
	 	Jeffrey B. Kindler,
Senior Vice President and General
Counsel,
Pfizer Inc.,
235 East 42nd Street,
New York, NY 10017
	
	
	
	

	 	 	 	 	 	 	 
	
	
	
	

	 	 	
(ii)
	 	If to the Company, to:
	 	Pfizer Inc.,
235 East 42nd Street,
New York, NY 10017,
Attention: Corporate Secretary

or such other address as may have been furnished to the Company by the Executive
or to the Executive by the Company, as the case may be.

11. Successors.

(i)  The Company shall require any successor (whether direct or indirect, by
purchase, merger, consolidation or otherwise) to all or substantially all of the
business and/or assets of the Company to agree in writing to assume the
Company’s obligations under this Agreement and to perform such obligations in
the same manner and to the same extent that the Company is required to perform
them. As used in this Agreement, “Company” shall mean the Company as hereinabove
defined and any successor to its business and/or assets as aforesaid which
assumes and agrees to perform the Company’s obligations under this Agreement by
operation of law or otherwise.

(ii)  This Agreement shall inure to the benefit of and be enforceable by the
Executive’s personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees and legatees. If the Executive shall
die while any amounts would still be payable to him in accordance with the terms
of this Agreement if he had continued to live, all such amounts shall be paid to
his devisee, legatee or other designee or, if there is no such designee, to his
estate.

12.     Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York.

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13.     Modification and Waiver. No provision of this Agreement may be amended,
modified, waived or discharged except pursuant to a written agreement signed by
the Company and the Executive.

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

	 	 	 
	 	 	
PFIZER INC.
	 
	 	 	 
	 
	 	 	
By /s/ Henry A. McKinnell

Henry A. McKinnell

Chairman and Chief Executive Officer
	 
	 	 	 
	 
	 	 	
EXECUTIVE
	 
	 	 	
/s/ Jeffrey B. Kindler

Jeffrey B. Kindler

6<PAGE>
                                                                   EXHIBIT 10.35

                              EMPLOYMENT AGREEMENT

     AGREEMENT made as of 30th of June, 2001 (the "Effective Date"), between
EDGAR Online, Inc. with its principal office at 50 Washington Street, Norwalk,
Connecticut ("Company"), and Tom Vos having an address at 106 Grovers Avenue,
Black Rock, Connecticut ("Employee").

                              W I T N E S S E T H:

     WHEREAS, the Company operates an Internet financial information business;
and

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

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

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

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

     2. Term. The term of the Employee's employment shall commence on the
Effective Date and unless terminated earlier or extended as provided below,
shall continue for a period of five years from the Effective Date (the
"Employment Term"). Upon the expiration of the initial employment term and on
each anniversary date
<PAGE>
thereafter, the employment of Employee shall be renewed and extended for an
additional year unless either party provides written notice to the other party,
of his or its, as the case may be, desire to terminate this Agreement at least
thirty (30) days prior to the renewal date.

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

     4. Compensation and Employee Benefits.

                  (a) The Employee's base salary during the initial term of
employment shall be no less than $150,000 per year payable in accordance with
the Company's payroll practices as in effect from time to time. The Employee's
base salary will be reviewed annually by the Company's Board of Directors (the
"Board") to determine whether an increase is warranted or appropriate. The
Employee also will be entitled to be considered for awards each year under the
Company's then existing incentive bonus program, which may take into account
individual and Company-wide
<PAGE>
performance, or such other performance criteria as the Board may from time to
time apply.

                  (b) The Employee aggress to transfer to the Company his
accrued, but not yet payable, deferred compensation totaling Three Hundred
Twenty Thousand dollars ($320,000.00) in exchange for the Company's agreement to
create the EDGAR Online, Inc. Deferred Compensation Plan, a copy of which is
annexed as Schedule "A: (the "compensations plan") payable for the benefit of
the Employee. The Company further agrees to make payments to such deferred
compensation plan, beginning in this taxable year and continuing for the next
six (6) taxable years. The Company's obligation to transfer such amounts shall
remain in full force and effect even in the event the Employee shall be disabled
during any one of the six (6) plan years following the signing of this
Agreement. Notwithstanding anything to the contrary contained in this Paragraph,
the assets transferred by the Company to the deferred compensation plan shall
remain in the name of the Company, be subject to risk of forfeiture and shall be
subject to the claims of the Company's creditors.

          5. Benefits. During the Employment Term, the Employee shall have the
right to participate in such health and disability insurance plans which the
Company may provide to its senior executive officers and for which the Employee
is eligible, (e.g. long term disability, life insurance and medical insurance
for the Employee and his dependents). During the Employment term, the Employee
will be entitled four weeks of paid vacation in accordance with the Company's
policy. Such vacation may be taken in the Employee's discretion with the prior
approval of the Company, and at such time or times as are not inconsistent with
the reasonable business needs of the Company.
<PAGE>
         6. Business Expenses. All reasonable travel, entertainment and other
expenses incident to the performance of the Employee's duties or the rendering
of services incurred on behalf of the Company by the Employee during the
Employment Term shall be paid by the Company.

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

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

                  (b) In the event of (i) the death of the Employee or (ii) by
action of the Board in the event of the inability of the Employee, by reason of
physical or mental disability, to continue substantially to perform his duties
hereunder for an aggregate period of 180 days during the Employment Term, during
which 180 day period salary and any other benefits hereunder shall not be
suspended or diminished. Upon any termination of the Employee's employment under
this Section 7(b), the Company shall have no further obligations or duties to
the Employee, and the Employee shall have no further obligations or duties to
the Company, except as provided in Sections 4(b) and 8.
<PAGE>
                  (c) In the event that there is a change of control of the
Company (as defined below), and the Agreement is terminated by either the
Employee or the Company for whatever reason within one year of such a change of
control, the Company shall pay to the Employee, in addition to accrued salary
and benefits payable to the Employee through the date of termination of
employment, (i) the cost of outplacement counseling for a period of up to one
year with the maximum cost to the Company not to exceed $25,000 , (ii) a
severance payment from the Company equal to 2.99 times the sum of (x) the
Employee's then applicable base salary and (y) the average of the last two
year's cash bonuses paid by the Company to the Employee, (iii) shall continue
the Employee's medical benefits at Company cost for the severance period or
until Employee obtains full time employment with an employer that provides
comparable heath coverage, and (iv) shall continue payments to the deferred
compensation plan for a period of 2.99 years. In addition, all stock options and
other awards issued to the Employee under any and all of the Company's stock
option plans shall immediately vest and remain exercisable for a period of the
lesser of (i) the original term of the stock option and (ii) five years.

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

                  (e) For purposes of this Agreement, a "change of control of
the Company" shall mean the occurrence of (i) the acquisition by an individual,
entity, or group of the beneficial ownership of 50% or more (other than by Marc
and Susan Strausberg and their affiliates) of (1) the outstanding common stock,
or (2) the combined voting power of the Company's voting securities; provided,
however, that the following acquisitions will not constitute a "change of
control": (x) any acquisition by any employee benefit plan of the Company or any
affiliate or (y) any acquisition by any corporation if, immediately following
such acquisition, more than 50% of the outstanding common stock and the
outstanding voting securities of such corporation is beneficially owned by all
or substantially all of those who, immediately prior to such acquisition, were
the beneficial owners of the common stock and the Company's voting securities
(in substantially similar proportions as their ownership of such Company
securities immediately prior thereto); or (ii) the approval by the Company's
stockholders of a reorganization, merger or consolidation, other than one with
respect to which all or substantially all of those who were the beneficial
owners, immediately prior to such reorganization, merger or consolidation, of
the Common Stock and the Company's voting securities beneficially own,
immediately after such transaction, more than 50% of the outstanding common
stock and voting securities of the corporation resulting from such transaction
(in substantially the same proportions as their ownership, immediately prior
thereto, of the Common Stock and the Company's voting securities); or (iii) the
approval by the
<PAGE>
Company's stockholders of the sale or other disposition of all or substantially
all of the assets of the Company, other than to a subsidiary of the Company.

                  (f) If the Company terminates this Agreement prior to the
fifth anniversary of the effective date for any reason other than that covered
by Section 7(d), the Company will pay the Employee (v) 2.99 times the sum of (x)
the Employee's then applicable base salary and (w) the average of the last two
cash bonuses paid to employee. In addition the Company shall provide Employee
with the benefits listed in Sections 7(c)(i), 7(c)(iii) and 7(c)(iv), all stock
options issued to the Employee under any and all of the Company's stock option
plans shall immediately vest and remain exercisable for the period of the lesser
of (x) the original term of the stock option or (y) five years.

         8. Confidentiality; Noncompetition.

                  (a) The Company and the Employee acknowledge that the services
to be performed by the Employee under this Agreement are unique and
extraordinary and, as a result of such employment, the Employee will be in
possession of confidential information relating to the business practices of the
Company. The term "confidential information" shall mean any and all information
(oral or written) relating to the Company or any of its affiliates, or any of
their respective activities, other than such information which can be shown by
the Employee to be in the public domain (such information not being deemed to be
in the public domain merely because it is embraced by more general information
which is in the public domain) other than as the result of breach of the
provisions of this Section 8(a), including, but not limited to, information
relating to: trade secrets, proprietary information, personnel lists, financial
information, research projects, services used, pricing, customers, customer
lists and prospects, product
<PAGE>
sourcing, marketing and selling and servicing. The Employee agrees that he will
not, during his employment or subsequent to the termination of employment,
directly or indirectly, use, communicate, disclose or disseminate to any person,
firm or corporation any confidential information regarding the clients,
customers or business practices of the Company acquired by the Employee during
his employment by Company, without the prior written consent of Company;
provided, however, that the Employee understands that Employee will be
prohibited from misappropriating any trade secret at any time during or after
the termination of employment. At no time during the Employment Term, or
thereafter shall the Employee directly or indirectly, disparage the commercial,
business or financial reputation of the Company.

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

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

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

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

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

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

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

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

                  (g) If any provision contained in this Section 8 is hereafter
construed to be invalid or unenforceable, the same shall not affect the
remainder of the covenant or covenants, which shall be given full effect,
without regard to the invalid portions.

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

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

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

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

         11. Assignability and Binding Effect. This Agreement shall inure to the
benefit of and shall be binding upon the executors, administrators, successors
and legal representatives of Employee and shall inure to the benefit of and be
binding upon the Company and its successors and assigns. The Employee may not
delegate or assign his duties or rights under this Agreement.
<PAGE>
         12. Waiver. Waiver by either party hereto of any breach or default by
the other party in respect of any of the terms and conditions of this Agreement
shall not operate as a waiver of any other breach or default, whether similar to
or different from the breach or default waived.

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

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

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

         16. Paragraph Headings. The paragraph headings contained in this
Agreement are for reference purposes only and shall not affect in any way the
meaning or interpretation of this Agreement.

         17. Execution of Agreement. Employee shall execute this Agreement no
later than June 30, 2001. In the event Employee does not execute this Agreement
by said date,
<PAGE>
the non-signing of the Agreement constitutes Employee's choice to terminate his
employment with the Company.

         18. Consideration. Employee hereby acknowledges and agrees that the
employment opportunity encompassed in this Agreement is contingent upon the
execution of this Agreement and that such employment, in addition to the mutual
promises herein, constitutes adequate consideration for this Agreement.

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

EDGAR ONLINE, INC.

By:________________________
Its:_______________________
Date:______________________

___________________________
Tom Vos
Date:______________________
<PAGE>
                                   Schedule A

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