Document:

<PAGE>

                               THIRD AMENDMENT TO
                             INDUSTRIAL SPACE LEASE

         THIS THIRD AMENDMENT TO INDUSTRIAL SPACE LEASE is dated as of the ___
day of November, 1996 by and between CENTERPOINT PROPERTIES CORPORATION, a
Maryland corporation (the "Landlord") and HALO INDUSTRIES, INC., an Illinois
corporation doing business as HALO ADVERTISING SPECIALTIES (the "Tenant").

                                    RECITALS

         A. LaSalle National Trust, N.A., not personally but solely as Trustee
under a certain Trust Agreement dated August 14,1990 and known as Trust No.
115722 ("Original Landlord") and Tenant entered into that certain Industrial
Space Lease dated as of December 30, 1992 as modified by that certain Amendment
to Industrial Space Lease dated May 1, 1995 and Second Amendment to Industrial
Space Lease dated April ___, 1996 (said Lease and Amendments are herein
collectively referred to as the "Lease") with respect to certain premises
located in the building commonly known as 5990 West Touhy Avenue, Niles,
Illinois as more particularly described in the Lease (the "Project"). All terms
used herein, unless otherwise specified, shall have the meaning ascribed to them
in the Lease. In the event of a conflict between the terms and conditions of the
Lease and the terms and conditions of this Amendment, the terms and conditions
of this Amendment shall prevail.

         B. Landlord is the successor in interest to Original Landlord's
interest in the Lease.

         C. Tenant has requested and Landlord has agreed to expand the "demised
premises" in order to include the space consisting of 48,125 square feet as
depicted in EXHIBIT A attached hereto and by this reference made a part hereof
(the "Expansion Premises"), all on the terms and conditions set forth herein.

         NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Landlord and Tenant hereby agree
as follows:

         1. RECITALS. The Recitals are incorporated into this Amendment as if
fully set forth in this Section 1.

         2. EXPANSION PREMISES. As of December 1, 1996 ("Effective Date"),
Landlord shall lease to Tenant and tenant shall accept the Expansion Premises as
part of the premises for the balance of the Term. After the Effective Date, the
terms "premises" and "demised premises" as used in the Lease shall be deemed to
include the Expansion Premises, provided, however, that the square foot area of
the Expansion Premises shall not be included in the calculation of Rent
Adjustments under the Lease. Rent Adjustments with respect to the Expansion
Premises shall be determined in the manner set forth in Paragraph 4 below.
Tenant hereby acknowledges and agrees the Expansion Premises shall be tendered
to and accepted by Tenant in its "as-is" and "where is" condition.

         3. BASE RENT. All terms and conditions of the Lease shall be deemed to
apply to the Expansion Premises except that Monthly Base Rental for the
Expansion Premises shall be as follows:

<PAGE>

<TABLE>
<CAPTION>

                                                              MONTHLY                            MONTHLY
                                                              BASE RENTAL                        BASE RENTAL
                           PERIOD                       EXPANSION PREMISES                   ENTIRE PREMISES
                           ------                       ------------------                   ---------------
<S>                                               <C>                                    <C>
         December 1, 1996-September 30, 1997                  $12,632.81                         $55,235.17
         October 1, 1997-September 30, 1998                   $13,434.90                         $57,939.84
         October 1, 1998-September 30, 1999                   $14,036.46                         $61,278.69
         October 1, 1999-September 30, 2000                   $14,638.02                         $62,826.28
         October 1, 2000-September 30, 2001                   $15,079.17                         $65,673.57
         October 1, 2001-September 30, 2002                   $15,560.42                         $67,712.89
         October 1, 2002-September 30, 2003                   $16,041.67                         $69,755.26

</TABLE>

         Total Base Rent shall be the sum of all Monthly Base Rental payable by
Tenant under the terms of the Lease and this Amendment.

         4. ADDITIONAL RENT Commencing on the Effective Date and on the first
day of each month thereafter until the earlier of (1) the Termination Date of
the Lease; or (ii) the Expansion Termination Date as set forth in Paragraph 5
below, Tenant shall pay Landlord as an additional Rent Adjustment with respect
to the Expansion Premises, without offset or deduction and in addition to the
Base Rent set forth hereinabove, the amounts set forth below:

                  (a) The sum of $802.08 per month for the payment of Tenant's
         Proportion of Expenses with respect to the Expansion Premises;

                  (b) An amount equal to the sum of (i) $5,855.21 plus (ii) the
         amount by which Taxes for the Project exceed $1.46 per square foot area
         of the Project, multiplied by the square foot area of the Expansion
         Premises divided by twelve, which sum shall be deemed to be Tenant's
         Proportion of Taxes with respect to the Expansion Premises. By way of
         example only, in the event Taxes paid during calendar year 1998 for
         1997 Taxes equal $1.50 per square foot area of the Project, Tenant
         shall pay to Landlord the sum of

                           $5,855.21 + {[($1.50 - $1.46) x 48,125]/12} =
                           $5,855.21 + {[$.04 x 48,125]/12} =
                           $5,855.21 + {$1,925/12} =
                           $5,855.21 + $160.42 = $6,015.63 per month

         Such amounts shall be payable by Tenant to Landlord in addition to any
sums payable to Landlord as Rent Adjustments in the Lease for the balance of the
premises.

         5. TERMINATION OPTION. Tenant shall have the option ("Termination
Option") to terminate the Lease with respect to the Expansion Premises only upon
the following terms and provisions:

                  (a) Tenant gives Landlord prior written notice ("Termination
         Notice") of Tenant's exercise of the Termination Option specifying an
         effective date for such termination ("Expansion Termination Date") as a
         date not less than nine (9) months subsequent to Landlord's receipt of
         the Termination Notice. The Termination Notice shall not be effective
         unless accompanied by a termination fee ("Termination Fee") in
         certified funds in the amount set forth below:

                                       2
<PAGE>

<TABLE>
<CAPTION>

                  EXPANSION TERMINATION DATE                           TERMINATION FEE
                  --------------------------                           ---------------
<S>                                                               <C>
                  December 1, 1996-September 30, 1997                   None
                  October 1, 1997-September 30, 1998                    $222,091.00
                  October 1, 1998-September 30, 1999                    $202,735.00
                  October 1, 1999-September 30, 2000                    $178,033.00
                  October 1, 2000-September 30, 2001                    $151,240.00
                  October 1. 2001-September 30, 2002                    $122,063.00
                  October 1, 2002-September 30, 2003                    $90,070.00

</TABLE>

         The Termination Fee shall be earned by Landlord upon receipt and shall
not be refundable under any circumstances.

                  (b) Tenant is not in default under the Lease either on the
         date Tenant delivers the Termination Notice of at any time prior to the
         Expansion Termination Date.

                  (c) The Termination Option herein granted shall automatically
         terminate upon the earliest to occur of (i) the expiration or
         termination of the Lease, (ii) the termination of Tenant's right to
         possession of the premises or the Expansion Premises, (iii) any
         assignment or subletting by Tenant, or (iv) the failure of Tenant to
         timely or properly exercise the Termination Option.

                  (d) Tenant shall remain obligated to perform each and every
         term, covenant, condition and agreement to be performed by Tenant under
         the Lease, including, without limitation, the obligation of the Tenant
         to pay all Rent and other payments which are the obligation of the
         Tenant under the Lease with respect to the Expansion Premises through
         and including the Expansion Termination Date. Tenant's exercise of the
         Termination Option shall in no manner affect Tenant's obligations under
         the Lease with respect to the remaining premises.

         6. NO OTHER MODIFICATION. The Lease is only modified as set forth
herein and in all other respects remains in full force and effect.

         7. SUCCESSORS AND ASSIGNS. This Amendment shall be binding upon and
shall inure to the benefit of the parties hereto and their respective successors
and assigns.

         8. MODIFICATION. This Amendment may not be modified or amended except
by written agreement executed by the parties hereto.

         9. GOVERNING LAW. The validity, meaning and effect of this Amendment
shall be determined in accordance with the laws of the State of Illinois.

         10. COUNTERPARTS. This Amendment may be executed in two counterparts,
each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

                                       3
<PAGE>

         11. SEVERABILITY. Landlord and Tenant intend and believe that each
provision in this Amendment comports with all applicable local, state and
federal laws and judicial decisions. However, if any provision in this Amendment
is found by a court of law to be in violation of any applicable ordinance,
statute, law, administrative or judicial decision, or public policy, and if such
court should declare such provision to be illegal, void or unenforceable as
written, then such provision shall be given force to the fullest possible extent
that the same is legal, valid and enforceable and the remainder of this
Amendment shall be construed as if such provision was not contained therein.

         IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the date first above written.

CENTERPOINT PROPERTIES                       HALO INDUSTRIES, INC., an
CORPORATION, a Maryland                      Illinois corporation
corporation

By                                           By:
  --------------------------------              -------------------------------
  Its:                                          Its:
      ----------------------------                  ---------------------------

By                                           By:
  --------------------------------              -------------------------------
  Its:                                          Its:
      ----------------------------                  ---------------------------

                                       4<PAGE>

                               FOURTH AMENDMENT TO
                             INDUSTRIAL SPACE LEASE

         THIS FOURTH AMENDMENT TO INDUSTRIAL SPACE LEASE (hereinafter referred
to as this "Amendment") is dated as of the ___ day of April, 1997 by and between
CENTERPOINT PROPERTIES CORPORATION, a Maryland corporation (the "Landlord") and
HALO INDUSTRIES, INC., an Illinois corporation doing business as HALO
ADVERTISING SPECIALTIES (the "Tenant").

                                    RECITALS

         A. LaSalle National Trust, N.A., not personally but solely as Trustee
under a certain Trust Agreement dated August 14, 1990 and known as Trust No.
115722 ("Original Landlord") and Tenant entered into that certain Industrial
Space Lease dated as of December 30, 1992 as modified by that certain Amendment
to Industrial Space Lease dated May 1, 1995, Second Amendment to Industrial
Space Lease dated April ___, 1996, and Third Amendment to Industrial Space Lease
dated November ___, 1996 (the "Third Amendment") (said Lease and Amendments are
herein collectively referred to as the "Lease") with respect to certain premises
located in the building commonly known as 5990 West Touhy Avenue, Niles,
Illinois as more particularly described in the Lease (the "Project").

         B. Landlord is the successor in interest to Original Landlord's
interest in the Lease.

         C. Pursuant to the Third Amendment, Tenant leased the Expansion
Premises (as defined in the Third Amendment) from Landlord, and Landlord leased
the Expansion Premises to Tenant.

         D. Tenant desires to alter a portion of the Expansion Premises
comprising 11,760 square feet of space as depicted in EXHIBIT A attached hereto
and by this reference made a part hereof (the "Office Space") for use as office
space, and Landlord has agreed to pay a tenant improvement allowance to Tenant
in connection with the tenant improvement work to be performed in the Office
Space.

         NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, Landlord and Tenant hereby agree as
follows:

         1. INCORPORATION OF RECITALS AND DEFINITIONS. The foregoing Recitals
are incorporated into this Amendment as if fully set forth herein. All
capitalized terms used in this Amendment, unless otherwise defined, shall have
the meanings ascribed to them in the Lease. In the event of a conflict between
the terms and conditions of the Lease and the terms and conditions of this
Amendment, the terms and conditions of this Amendment shall prevail.

         2. ADDITIONAL BASE RENTAL FOR OFFICE SPACE. From and after June 1, 1997
(the "Effective Date"), Tenant shall pay additional Base Rental ("Additional
Office Space Base Rental") to Landlord with respect only to the Office Space,
which Additional Office Space Base Rental shall be in addition to and not in
lieu of the Base Rental provided for in the Third Amendment, as follows:

<PAGE>

<TABLE>
<CAPTION>

                                                                           ANNUAL ADDITIONAL
                           PERIOD                                      OFFICE SPACE BASE RENTAL
                           ------                                      ------------------------
<S>                                                               <C>
                  June 1, 1997-September 30, 1998                            $ 89,622.80
                  October 1, 1998-September 30, 1999                         $ 92,311.48
                  October 1, 1999-September 30, 2000                         $ 95,080.82
                  October 1, 2000-September 30, 2001                         $ 97,933.25
                  October 1, 2001-September 30, 2002                         $100,871.25
                  October 1, 2002-September 30, 2003                         $103,897.38

</TABLE>

         3. TERMINATION OPTION. If Tenant exercises the Termination Option
pursuant to Section 5 of the Third Amendment, then Tenant shall pay to Landlord,
in addition to and not in lieu of the Termination Fee set forth in the Third
Amendment, an additional Termination Fee ("Additional Termination Fee") with
respect to the Office Space as follows:

<TABLE>
<CAPTION>

                           EXPANSION PREMISES                                    ADDITIONAL
                           TERMINATION DATE                                   TERMINATION FEE
                           ----------------                                   ---------------
<S>                                                                       <C>
                  June 1, 1997-September 30, 1998                               $372,320.62
                  October 1, 1998-September 30, 1999                            $314,688.96
                  October 1, 1999-September 30, 2000                            $251,963.19
                  October 1, 2000-September 30, 2001                            $183,693.02
                  October 1, 2001 -September 30, 2002                           $109,388.40
                  October 1, 2002-September 30, 2003                            $ 28,515.92

</TABLE>

         The Additional Termination Fee shall be payable at the same time and in
the same manner as the Termination Fee and shall not be refundable under any
circumstances.

         4. TENANT IMPROVEMENTS AND TENANT IMPROVEMENT ALLOWANCE.

                  (a) Tenant shall, at Tenant's sole cost and expense, cause to
         be prepared and submitted to Landlord for Landlord's prior approval,
         plans and specifications (the "Plans"), including, but not limited to,
         all space plans, working drawings, mechanical and engineering drawings,
         disclosing all construction to be performed by Tenant in the Office
         Space (collectively, the "Work"). Landlord's approval of the Plans
         shall not be unreasonably withheld or denied. In the event the Plans
         are disapproved, Tenant shall revise and resubmit the Plans and
         Landlord shall review the same and notify Tenant of its approval or
         disapproval in the same manner as required for the initial submittal.

                  (b) Tenant shall enter into a contract with Executive
         Construction ("Tenant's Contractor") to perform the Work. Prior to
         commencing the Work, Tenant shall submit all written contracts with
         Tenant's Contractor for Landlord's approval. All installations,
         alterations and additions which comprise the Work shall be constructed
         in a good and workmanlike manner and only new and good grades of
         material shall be used. The Work performed by Tenant's Contractor shall
         comply with all applicable insurance requirements, all laws, statutes,
         ordinances and regulations of the Village of Niles, the State of
         Illinois and the United States of America. Tenant shall permit Landlord
         to observe all construction operations within the Office Space
         performed by Tenant's Contractor. No silence or statement by Landlord's
         supervisor shall be deemed or

                                       2
<PAGE>

         construed as an assumption by said supervisor or Landlord of any
         responsibility for or in relation to the construction of the Office
         Space or any guarantee that the Work complies with laws, complies with
         the Plans, or is suitable or acceptable to Tenant for Tenant's intended
         business purposes.

                  (c) Tenant, at its sole cost and expense, shall file all
         necessary plans with the appropriate governmental authorities having
         jurisdiction over the Work. Tenant shall be responsible for obtaining
         all permits, authorizations and approvals necessary to perform and
         complete the Work. Tenant shall not commence the Work until the
         required permits authorizations and approvals for such work are
         obtained and delivered to Landlord.

                  (d) Tenant shall at all times keep the Office Space and the
         balance of the Premises and adjacent areas free from accumulations of
         waste materials or rubbish caused by its suppliers, contractors or
         workmen. Landlord reserves the right to do clean-up at the expense of
         Tenant if Tenant fails to comply with Landlord's reasonable cleanup
         requirements. At the completion of the Work, Tenant's Contractor shall
         forthwith remove all rubbish and all tools, equipment and surplus
         materials from and about the Office Space and Building. Any damage
         caused by Tenant's Contractor to any portion of the Building or to any
         property of Landlord shall be repaired forthwith by Tenant at its
         expense to its condition prior to such damage.

                  (e) Tenant and Tenant's Contractor shall assume responsibility
         for the prevention of accidents and shall take all reasonable safety
         precautions with respect to the Work and shall comply with all
         reasonable safety measures initiated by Landlord and with all
         applicable laws, ordinances, rules, regulations and orders applicable
         to the Work including those of any public authority for the safety of
         persons or property. Tenant shall advise Tenant's Contractor to report
         to Landlord any injury to any of its agents or employees and shall
         furnish Landlord a copy of the accident report filed with its insurance
         carrier within three (3) days of its occurrence.

                  (f) Provided no default exists under this Lease, Landlord
         shall pay, as Landlord's contribution to the costs of construction of
         the Work, a sum equal to THREE HUNDRED NINETY THOUSAND AND NO/100
         ($390,000.00) DOLLARS ("Tenant Improvement Allowance"). Tenant shall
         pay for the entire cost of the Work including, but not limited to, all
         labor, material, permits, architectural and engineering fees, and
         permit fees, in excess of the Tenant Improvement Allowance. The Tenant
         Improvement Allowance shall be paid to Tenant's Contractor in
         installments by the Landlord as the Work progresses within ten (10)
         days of presentation by Tenant and Tenant's Contractor of reasonable
         documentation evidencing (i) the amounts due, in relation to the Work,
         to the Tenant's Contractor and any subcontractors and materialmen,
         including, but not limited to, general contractor's statement and
         partial and final lien waivers, as the case may be, covering all Work
         for which the Tenant's Contractor is requesting payment; (ii) the
         percentage of the Work completed; (iii) a sworn statement from Tenant
         setting forth in detail all contractors and material suppliers with
         whom Tenant has contracted, their addresses, work or materials to be
         furnished, amounts of contracts, amounts paid to date, amounts of
         current payments and balances due; and (iv) a report by the architect
         that prepared the Plans certifying that the Work has been completed and
         materials are in place

                                       3
<PAGE>

         as indicated by the request for payment of Tenant's Contractor. Tenant
         shall be responsible for obtaining and submitting to Landlord all
         documentation reasonably required by the Landlord in relation to draw
         requests. Payments of the Tenant Improvement Allowance shall never
         exceed, in the aggregate, the lesser of (i) the remaining unpaid amount
         of the Tenant Improvement Allowance, or (ii) that amount equal to
         ninety percent (90%) of the cost of all Work completed in accordance
         with the Plans, as evidenced by the documentation furnished with such
         request (including lien waivers). The ten percent (10%) of the cost of
         the Work not disbursed (the "Holdback") shall be disbursed to Tenant's
         Contractor with the final payment for the Work. The disbursement of the
         Tenant Improvement Allowance and any additional funds due from Tenant
         shall be made through a construction escrow ("Construction Escrow")
         established with Chicago Title Insurance Company ("Escrowee"), or such
         other title company selected by Landlord. The parties shall execute a
         standard form of construction escrow agreement utilized by the Escrowee
         with such revisions thereto as may be necessary to conform to the
         provisions hereof. The parties and any contractor employed by Tenant
         and all subcontractors thereof shall furnish to the Escrowee such other
         documents, information and undertakings as may be reasonably requested
         by the Escrowee to enable it to advise Landlord and Tenant, with
         respect to the periodic disbursement made through the construction
         escrow and lien waivers are in proper form for the purpose of releasing
         and waiving any and all rights to file mechanics lien claims against
         the Office Space and the Premises or any portion thereof and that there
         are no liens of public record. Landlord shall fund the Tenant
         Improvement Allowance into the Construction Escrow periodically by the
         transfer of funds upon approval of documents submitted in connection
         with each construction draw and upon the Escrowee's determination, with
         respect to the periodic disbursements made through the construction
         escrow, that it is prepared to advise Landlord that all statements and
         lien waivers are in proper form for the purpose of releasing and
         waiving any and all rights to file mechanics lien claims against the
         Office Space or any portion thereof and that there are no liens of
         public record through the date of disbursement of funds.
         Notwithstanding the foregoing, if at any time during the course of
         performance of the Work the total unpaid cost of completing the Work as
         indicated by any of the sworn statements provided hereunder exceeds the
         balance of the Tenant Improvement Allowance, Landlord need not make
         further disbursements of Tenant Improvement Allowance until Tenant has
         deposited in the Construction Escrow the sum necessary, along with the
         balance of the Tenant Improvement Allowance, to make all available
         funds equal to the unpaid cost of construction or has paid such excess
         costs directly. The final payment for the Work (inclusive of the entire
         Holdback) shall not be made until the architect who prepared the Plans
         shall have certified to Landlord and Tenant that the Work is
         substantially complete in accordance with the Plans, any applicable
         certificate of occupancy or other governmental license or permit has
         been issued, all final waivers of lien have been deposited with the
         Escrowee and the Escrowee is prepared to advise Landlord that there are
         no liens of public record resulting from the Tenant's Work and is
         prepared to issue a date-down endorsement

                                       4
<PAGE>

         to Landlord's then existing Title Insurance Policy issued by Chicago
         Title Insurance Company free of any exceptions relating to Work. The
         payment for expenses incurred in connection with the Construction
         Escrow and issuance of the Title Insurance Policy date-down endorsement
         shall be paid from the Tenant Improvement Allowance as an element of
         the cost of the Work.

         5. BROKERS. Landlord and Tenant hereby represent and warrant to one
another that it has not dealt with any broker, salesperson, finder or other
party who is or might be entitled to a commission, fee or other compensation in
connection with the transaction contemplated by this Amendment except for Grubb
& Ellis and P.M. Realty Group/Ecker (collectively, the "Brokers"). Landlord and
Tenant each hereby agree to indemnify, defend and hold the other harmless from
and against all loss, cost and expense (including, without limitation, attorneys
fees) arising out of the breach by the other party of the foregoing
representation and warranty.

         6. NO OTHER MODIFICATION. The Lease is only modified as set forth
herein and in all other respects remains in full force and effect.

         7. SUCCESSORS AND ASSIGNS. This Amendment shall be binding upon and
shall inure to the benefit of the parties hereto and their respective successors
and assigns.

         8. MODIFICATION. This Amendment may not be modified or amended except
by written agreement executed by the parties hereto.

         9. GOVERNING LAW. The validity, meaning and effect of this Amendment
shall be determined in accordance with the laws of the State of Illinois.

         10. COUNTERPARTS. This Amendment may be executed in two counterparts,
each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

         11. SEVERABILITY. Landlord and Tenant intend and believe that each
provision in this Amendment comports with all applicable local, state and
federal laws and judicial decisions. However, if any provision in this Amendment
is found by a court of law to be in violation of any applicable ordinance,
statute, law, administrative or judicial decision, or public policy, and if such
court should declare such provision to be illegal, void or unenforceable as
written, then such provision shall be given force to the fullest possible extent
that the same is legal, valid and enforceable and the remainder of this
Amendment shall be construed as if such provision was not contained therein.

                                       5

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have executed this Amendment as
of the date first above written.

LANDLORD:                                       TENANT:

CENTERPOINT PROPERTIES                          HALO INDUSTRIES, INC., an
CORPORATION, a Maryland                         Illinois corporation
corporation

By                                              By:
  -------------------------                        ----------------------------
  Its:                                             Its:
      ---------------------                            ------------------------
By
  -------------------------
  Its:

                                        6

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