Document:

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                     SUMMARY INSTRUCTION SHEET FOR PURCHASER

                   (to be read in conjunction with the entire
                        Purchase Agreement which follows)

A.       Complete the following items on BOTH copies of the Purchase Agreement:
         1.       Signature Page:
                  (i)      Name of Purchaser
                  (ii)     Signature, Name and Title of Individual representing
                           Purchaser

         2.       Appendix I - Stock Certificate Questionnaire:
                  Provide the information requested by the Stock Certificate
                  Questionnaire.
                  Appendix I - Registration Statement Questionnaire:
                  Provide the information requested by the Registration
                  Statement Questionnaire.

         3.       Return BOTH copies of a properly completed and signed Purchase
                  Agreement including the properly completed Appendix I to:

                                       Rare Medium Group, Inc.
                                    565 Fifth Avenue, 29th Floor
                                         New York, NY  10017
                               Attention: Robert Lewis, Vice President
                                         and General Counsel
                                      Facsimile: (212) 856-9122

B.       Instructions regarding the transfer of funds for the purchase of Shares
         (as defined in the attached Purchase Agreement) will be sent by
         facsimile to the Purchaser.

C.       Upon the resale of the Shares by the Purchaser after the Registration
         Statement covering the Shares is effective, as described in the
         Purchase Agreement, the Purchaser:

                  (i)      must deliver a current prospectus of the Company to
                           the buyer (prospectuses must be obtained from the
                           Company at the Purchaser's request); and

                  (ii)     must send a letter in the form of Appendix II to the
                           Company so that the Shares may be properly
                           transferred.

<PAGE>

                               PURCHASE AGREEMENT

                  THIS AGREEMENT (the "Agreement") is made as of the 14th day of
January, 2000 by and among Rare Medium Group, Inc. (the "Company"), a
corporation organized under the laws of the State of Delaware, with its
principal offices at 565 Fifth Avenue, 29th Floor, New York, New York 10017, and
the purchaser whose name and address is set forth on the signature page hereof
(the "Purchaser").

                  IN CONSIDERATION of the mutual covenants contained in the
Agreement, the Company and the Purchaser agree as follows:

SECTION 1. Authorization of Sale of the Shares. Subject to the terms and
conditions of this Agreement, the Company has authorized the sale of the number
of shares (the "Shares") of the common stock, par value $0.01 per share (the
"Common Stock"), of the Company set forth on the signature page hereof.

SECTION 2. Agreement to Sell and Purchase the Shares. At the Closing (as defined
in Section 3), the Company will, subject to the terms of this Agreement, sell
the Shares to the Purchaser, and the Purchaser will buy the Shares from the
Company, upon the terms and conditions hereinafter set forth, at the purchase
price set forth on the signature page hereof.

                  The Purchaser acknowledges that the Company may issue and sell
additional shares of capital stock from time to time in private placements
and/or public offerings.

SECTION 3. Delivery of the Shares at the Closing. The completion of the
purchase and sale of the Shares (the "Closing") shall occur at a place and time
(the "Closing Date") to be determined by the Company and the Placement Agent (as
defined below), which date shall not be less than three nor more than ten
business days after the date hereof. The term "Placement Agent" means Credit
Suisse First Boston Corporation. The Purchaser will be notified by facsimile
transmission or otherwise of the Closing Date.

                  At the Closing, the Company shall issue to the Purchaser one
or more stock certificates registered in the name of the Purchaser, or in such
nominee name(s) as designated by the Purchaser in writing, representing the
Shares. The name(s) in which the stock certificates are to be registered are set
forth in the Stock Certificate Questionnaire attached hereto as part of Appendix
I. The Company's obligation to complete the purchase and sale of the Shares
being purchased hereunder and deliver such stock certificate(s) to the Purchaser
at the Closing shall be subject to the following conditions, any one or more of
which may be waived by the Company: (a)

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<PAGE>

receipt by the Company of same-day funds in the full amount of the purchase
price for the Shares being purchased hereunder; and (b) the accuracy of the
representations and warranties made by the Purchaser and the fulfillment of
those undertakings of the Purchaser to be fulfilled prior to the Closing. The
Purchaser's obligation to accept delivery of such stock certificate(s) and to
pay for the Shares evidenced thereby shall be subject to the accuracy in all
material respects of the representations and warranties made by the Company
herein and the fulfillment in all material respects of those undertakings of the
Company to be fulfilled prior to Closing.

SECTION 4.        Representations, Warranties and Covenants of the Company.  The
Company hereby represents and warrants to, and covenants with, the Purchaser as
follows:

         4.1 Organization and Qualification. The Company is a corporation duly
organized, validly existing and in good standing under the laws of its
jurisdiction of incorporation and is qualified to do business as a foreign
corporation in each jurisdiction in which qualification is required, except
where failure to so qualify would not have a Material Adverse Effect (as defined
herein) on the Company.

         4.2 Authorized Capital Stock. The authorized capital stock of the
Company consists of (i) 10,000,000 shares of Preferred Stock, $0.01 par value
(the "Preferred Stock"), 2,000,000 of which shares have been designated Series A
Convertible Preferred Stock (the "Series A Preferred Stock") and (ii)
200,000,000 shares of Common Stock. The capitalization of the Company is as set
forth in the Information Documents (as defined below), except that (a) as of the
date hereof, the Company has issued and outstanding options to purchase not more
than an aggregate of 14,000,000 shares of Common Stock with a weighted average
exercise price of not less than $8.33 per share, of which options to purchase an
aggregate of not more than 2,200,000 shares of Common Stock have vested and of
which options to purchase an aggregate of not more than 11,800,000 shares of
Common Stock will vest from time to time through January 29, 2004; (b) since
September 30, 1999 through the date hereof, the Company has issued not more then
1,000,000 shares of Common Stock in connection with acquisitions and the
conversion of certain debt securities of the Company into shares of Common
Stock; and (c) since September 30, 1999 and through December 15, 1999, the
Company has issued 1,580,518 shares of Common Stock upon exercise of options.
Since September 30, 1999 through the date hereof, the Company has not issued any
additional shares of Series A Preferred Stock or any additional Series 1
Warrants to purchase shares of Common Stock. However, as of December 31, 1999
there will be issuable 16,708 shares of Series A Preferred Stock and Series 1
Warrants to purchase 16,708.38 shares of Common Stock in connection with the
pay-in-kind dividend feature of the Series A Preferred Stock. The issued and
outstanding shares of the Company's capital stock have been

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duly authorized and validly issued, are fully paid and nonassessable, have been
issued in compliance with all federal and state securities laws, and were not
issued in violation of or subject to any preemptive rights or other rights to
subscribe for or purchase securities.

         4.3 Issuance, Sale and Delivery of the Shares. The Shares being
purchased hereunder have been duly authorized and, when issued, delivered and
paid for in the manner set forth in this Agreement, will be duly authorized,
validly issued, fully paid and nonassessable. No preemptive rights or other
rights of any stockholder of the Company to subscribe for or purchase exist with
respect to the issuance and sale of the Shares by the Company pursuant to this
Agreement,except those that have been validly waived. No further approval or
authority of the stockholders or the Board of Directors of the Company will be
required for the issuance and sale of the Shares to be sold by the Company as
contemplated herein. The Company's issuance of the Shares shall be in compliance
with all applicable federal, state securities or blue sky laws.

         4.4 Due Execution, Delivery and Performance of the Agreements. The
Company has full legal right, corporate power and authority to enter into this
Agreement and perform the transactions contemplated hereby. This Agreement has
been duly authorized, executed and delivered by the Company. The execution,
delivery and performance of this Agreement by the Company and the consummation
by the Company of the transactions herein contemplated will not violate any
provision of the organizational documents of the Company. The execution,
delivery and performance of this Agreement by the Company and the consummation
by the Company of the transactions herein contemplated will not result in the
creation of any lien, charge, security interest or encumbrance upon any assets
of the Company pursuant to the terms or provisions of, or conflict with, result
in the breach or violation of, or constitute, either by itself or upon notice or
the passage of time or both, a default under any material agreement, mortgage,
deed of trust, lease, franchise, license, indenture, permit or other instrument
to which the Company is a party or by which the Company or any of its properties
may be bound or affected and in each case which individually or in the aggregate
would have a material adverse effect on the condition (financial or otherwise),
properties, business, or results of operations of the Company and its
subsidiaries, taken as a whole (a "Material Adverse Effect"), or, to the
Company's knowledge, any statute or any authorization, judgement, decree, order,
rule or regulation of any court or any regulatory body, administrative agency or
other governmental body applicable to the Company or any of its respec tive
properties. No consent, approval, authorization or other order of any court,
regulatory body, administrative agency or other governmental body is required
for the execution and delivery of this Agreement or the consummation of the
transactions contemplated by this Agreement, except for compliance with the
blue sky laws and federal

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<PAGE>

securities laws applicable to the offering of the Shares. Upon its execution and
delivery, and assuming the valid execution thereof by the Purchaser, this
Agreement will constitute a valid and binding obligation of the Company,
enforceable against the Company in accordance with its terms, except as
enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting creditors' and contracting
parties' rights generally and except as enforceability may be subject to general
principles of equity (regardless of whether such enforceability is considered in
a proceeding in equity or at law) and except as the indemnification agreements
of the Company in Section 7.3 hereof may be limited by applicable law.

         4.5 Accountants. KPMG LLP, who have expressed their opinion with
respect to the Company's financial statements as of and for the year ended
December 31, 1998, to the best of the Company's knowledge, are independent
accountants as required by the Securities Act and the rules and regulations
promulgated thereunder (the "1933 Act Rules and Regulations").

         4.6 No Defaults. Except as to defaults, violations and breaches which
individually or in the aggregate would not have a Material Adverse Effect, the
Company is not in violation of or default under any provision of its certificate
of incorporation or bylaws, or other organizational documents, or in breach of
or default with respect to any provision of any agreement, judgement, decree,
order, mortgage, deed of trust, lease, franchise, license, indenture, permit or
other instrument to which it is a party or by which it or any of its properties
are bound; and there does not exist any state of facts which, with notice or
lapse of time or both, would constitute an event of default as defined in such
documents on the part of the Company, except such defaults which individually or
in the aggregate would not have a Material Adverse Effect.

         4.7 No Actions. There are no legal or governmental actions, suits or
proceedings pending or, to the Company's knowledge, threatened to which the
Company is or may be a party or of which property owned or leased by the Company
is or may be subject, which actions, suits or proceedings, individually or in
the aggregate, would reasonably be expected to materially and adversely affect
the transactions contemplated by this Agreement or result in a Material Adverse
Effect; and no labor disturbance by the employees of the Company exists, or, to
the Company's knowledge, is imminent which would reasonably be expected to have
a Material Adverse Effect. The Company is not a party to or subject to the
provisions of any material injunction, judgement, decree or order of any court,
regulatory body, administrative agency or other governmental body.

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<PAGE>

         4.8 Properties. The Company has, as of the applicable dates referred to
therein, good and marketable title to all the properties and assets reflected as
owned by it in the financial statements included in the Information Documents,
subject to no lien, mortgage, pledge, charge or encumbrance of any kind except
(i) those, if any, reflected in such financial statements, or (ii) those which
are not material in amount and do not adversely affect the use made and promised
to be made of such property by the Company. The Company and its subsidiaries
hold their leased properties under valid and binding leases, with such
exceptions as are not materially significant in relation to their respective
businesses. The Company and its subsidiaries own or lease all such properties as
are necessary to their operations as now conducted.

         4.9 No Material Change. Since September 30, 1999 (i) the Company has
not incurred any material liabilities or obligations, indirect or contingent, or
entered into any material verbal or written agreement or other transaction which
is not in the ordinary course of business or which could reasonably be expected
to result in a material reduction in the future earnings of the Company; (ii)
the Company has not sustained any material loss or interference with its
businesses or properties from fire, flood, windstorm, accident or other calamity
not covered by insurance; (iii) the Company has not paid or declared any
dividends or other distributions with respect to its capital stock, other than
dividends in respect of the Series A Preferred Stock, and the Company is not in
default in the payment of principal or interest on any outstanding debt
obligations, if any; (iv) there has not been any material change in the capital
stock of the Company other than the sale of the Shares hereunder, the issuance
of shares of capital stock in connection with acquisitions and shares or options
issued pursuant to the Company's 1998 Long-Term Incentive Plan and any options
outstanding as of the date hereof, or indebtedness material to the Company
(other than in the ordinary course of business); and (v) there has not been a
material adverse change in the condition (financial or otherwise), properties,
business or results of operations of the Company.

         4.10 Intellectual Property. The Company believes it has the necessary
trademark, trade name rights, patent rights, licenses and trade secret rights to
conduct its business as it is now being conducted; and the Company has no
knowledge of any material infringement by it of the trademark, trade name
rights, patent rights or trade secret rights of others, or of any claim made
against the Company regarding trademark, trade name, patent or trade secret
infringement that would reasonably be expected to have a Material Adverse
Effect. The foregoing is subject to and must be considered in view of the
numerous uncertainties and complexities inherent in seeking intellectual
property protection of sufficient scope to protect the Company's technologies,
in defending intellectual property rights that may be obtained, and in avoiding
or being able to license or defend against intellectual property rights that may
belong to or may be acquired by others.

                                       6
<PAGE>

         4.11 Compliance. The Company has not been advised, or has no reason to
believe, that it is not conducting business in compliance with all applicable
laws, rules and regulations of the jurisdictions in which it is conducting
business, except where failure to be so in compliance would not have a Material
Adverse Effect.

         4.12 Taxes. The Company has filed all necessary federal, state and
foreign income and franchise tax returns and has paid or accrued all taxes shown
as due thereon, and the Company has no knowledge of a tax deficiency which has
been or might be asserted or threatened against it which would have a Material
Adverse Effect.

         4.13 Investment Company. The Company is not regulated or required to be
registered as an "investment company" within the meaning of the Investment
Company Act of 1940, as amended.

         4.14 Integration, etc. The Company has not in the past nor will it
hereafter take any action independent of the Placement Agent to sell, offer for
sale or solicit offers to buy any securities of the Company which would bring
the offer, issuance or sale of the Shares, as contemplated by this Agreement,
within the provisions of Section 5 of the Securities Act. Neither the Company
nor any of its Affiliates (as defined in Rule 501(b) of Regulation D under the
Securities Act) has directly, or through any agent, (i) sold, offered for sale,
solicited offers to buy or otherwise negotiated in respect of, any "security"
(as defined in the Securities Act) which is or could be integrated with the sale
of the Shares in a manner that would require the registration under the
Securities Act of the Shares or (ii) engaged in any form of general solicitation
or general advertising (as those terms are used in Regulation D under the
Securities Act) in connection with the offering of the Shares or in any manner
involving a public offering within the meaning of Section 4(2) of the Act.

         4.15 Insurance. The Company maintains insurance of the types and in the
amounts that the Company reasonably believes is adequate for its business,
including, but not limited to, insurance against theft, damage, destruction,
acts of vandalism and all other risks customarily insured against by similarly
situated companies, all of which insurance is in full force and effect.

         4.16 Reporting Company; Listed Securities. The Company has filed all
reports required to be filed by Sections 13(a) or 15(d) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act") during the preceding
twelve (12) months and has been subject to such filing requirements for the past
twelve (12) months. The Common Stock is quoted on the Nasdaq National Market
System ("Nasdaq"). To the Company's knowledge, there is no stop order suspending
the trading of the

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Common Stock on Nasdaq or any information which would result in the Common Stock
from being delisted from Nasdaq.

         4.17 Additional Information. The Company represents and warrants that
the information contained in the following documents complied in all material
respects with the rules and regulations promulgated pursuant to the Exchange Act
and were true and correct in all material respects as of their respective filing
dates with the Securities and Exchange Commission (the "SEC"):

                  (a) the Company's amended Annual Report on Form 10-K/A for
the fiscal year ended December 31, 1998;

                  (b) the Company's quarterly report on Form 10-Q for the fiscal
quarter ended September 30, 1999;

                  (c) the Company's Proxy Statement for the 1999 Annual Meeting
of Stockholders; and

                  (d) all other documents, if any, filed by the Company with the
SEC since December 31, 1998 pursuant to the reporting requirements of the
Exchange Act.

                  The documents referred to in clause (a) through (d) above are
herein after collectively referred to as the "Information Documents."

         4.20 Legal Opinion. At or prior to the Closing, Skadden, Arps, Slate,
Meagher & Flom LLP, counsel to the Company, will deliver a legal opinion to the
Placement Agent to the effect that the issuance and sale of the Shares being
purchased hereunder have been duly authorized for issuance by the Company and,
when delivered to and paid for by the Purchaser in accordance with this
Agreement, will be validly issued, fully paid and nonassessable. Such opinion
shall also state that of the Purchaser may rely thereon as though it were
addressed directly to the Purchaser.

         4.21 Certificate.  At the Closing, the Company will deliver to
Purchaser a certificate executed by the Chairman of the Board or President and
the chief financial officer of the Company, dated the Closing Date, in form and
substance reasonably satisfactory to the Purchaser, to the effect that the
representations and warranties of the Company set forth in this Section 4 are
true and correct in all material respects as of the date of this Agreement and
as of the Closing Date, and the Company has complied with all the agreements and
satisfied all the conditions herein on its part to be performed or satisfied on
or prior to such Closing Date.

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SECTION 5.        Representations, Warranties and Covenants of the Purchaser.

                  (a) The Purchaser represents and warrants to, and covenants
with, the Company that: (i) the Purchaser is knowledgeable, sophisticated and
experienced in making, and is qualified to make, decisions with respect to
investments in shares representing an investment decision like that involved in
the purchase of the Shares, including investments in securities issued by the
Company, and has requested, received, reviewed and understood all information it
deems relevant in making an informed decision to purchase the Shares, including,
without limitation, the information contained in the Information Documents;
(ii) it acknowledges that the offering of the Shares pursuant to this Agreement
has not been reviewed by the SEC or any state regulatory authority; (iii) the
Purchaser is acquiring the number of Shares set forth in the signature page
hereto, for its own account for investment only and with no present intention of
distributing any of such Shares or any arrangement or understanding with any
other persons regarding the distribution of such Shares; (iv) the Purchaser will
not, directly or indirectly, offer, sell, pledge, transfer or otherwise dispose
of (or solicit any offers to buy, purchase or otherwise acquire or take a pledge
of) any of the Shares except in compliance with the Securities Act, the 1933 Act
Rules and Regulations and any applicable state securities or blue sky laws; (v)
the Purchaser has completed or caused to be completed the Registration Statement
Questionnaire and the Stock Certificate Questionnaire, both attached hereto as
Appendix I, for use in preparation of the Registration Statement, and the
answers thereto are true and correct as of the date hereof and will be true and
correct as of the effective date of the Registration Statement; (vi) the
Purchaser has, in connection with its decision to purchase the number of Shares
set forth on the signature page hereof, not relied upon any representations or
other information (whether oral or written) other than as set forth in the
Information Documents and the representations and warranties of the Company
contained herein; (vii) the Purchaser has had an opportunity to discuss this
investment with representatives of the Company and ask questions of them and
such questions have been answered to the full satisfaction of the Purchaser; and
(viii) the Purchaser is both (x) an "accredited investor" within the meaning of
Rule 501 of Regulation D promulgated under the Securities Act and (y) a
"qualified institutional buyer" as defined in Rule 144A under the Securities
Act.

                  (b) The Purchaser hereby covenants with the Company not to
make any sale of the Shares without satisfying the prospectus delivery
requirements under the Securities Act, and the Purchaser acknowledges and agrees
that such Shares are not transferable on the books of the Company unless the
certificate submitted to the transfer agent evidencing the Shares is accompanied
by a separate officer's certificate: (i) in the form of Appendix II hereto, (ii)
executed by an officer of, or other authorized person designated by, the
Purchaser, and (iii) to the effect that (A) the Shares have been sold in
accordance with the Registration Statement, the

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Securities Act and the 1933 Act Rules and Regulations and any applicable state
securities or blue sky laws and (B) the requirement of delivering a current
prospectus has been satisfied. The Purchaser acknowledges that there may
occasionally be times when the Company must suspend the use of the prospectus
forming a part of the Registration Statement until such time as an amendment to
the Registration Statement has been filed by the Company and declared effective
by the SEC, or until such time as the Company has filed an appropriate report
with the SEC pursuant to the Exchange Act or until the facts giving rise to the
need to suspend such use no longer exist. The Purchaser hereby covenants that it
will not sell any Shares pursuant to said prospectus during the period
commencing at the time at which the Company gives the Purchaser written notice
of the suspension of the use of said prospectus and ending at the time the
Company gives the Purchaser written notice that the Purchaser may thereafter
effect sales pursuant to said prospectus. The Purchaser further covenants to
notify the Company promptly of the sale of all of the Shares purchased by it
hereunder.

                  (c) The Purchaser further represents and warrants to, and cove
nants with, the Company that (i) the Purchaser has full right, power, authority
and capacity to enter into this Agreement and to consummate the transactions
contem plated hereby and has taken all necessary action to authorize the
execution, delivery and performance of this Agreement, (ii) the Purchaser is
duly organized, validly existing and in good standing under the laws of its
jurisdiction of organization, (iii) the execution, delivery and performance of
this Agreement by Purchaser and the consummation by the Purchaser of the
transactions contemplated by this Agreement will not violate any provision of
the organizational documents of Purchaser or conflict with, result in the breach
or violation of, or constitute, either by itself or upon notice or the passage
of time or both, a default under any material agreement, mortgage, deed of
trust, lease, franchise, license, indenture, permit or other instrument to
which the Purchaser is a party or, any statute or any authorization, judge ment,
decree, order, rule or regulation of any court or any regulatory body, adminis
trative agency or other governmental body applicable to the Purchaser, (iv) no
consent, approval, authorization or other order of any court, regulatory body,
administrative agency or other governmental body is required on the part of the
Purchaser for the execution and delivery of this Agreement or the consummation
of the transactions contemplated by this Agreement, and (v) upon the execution
and delivery of this Agreement, this Agreement shall constitute a valid and
binding obligation of the Purchaser enforceable in accordance with its terms,
except as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting creditors' and contracting
parties' rights generally and except as enforceability may be subject to general
principles of equity (regardless of whether such enforceability is considered in
a proceeding in equity or at law) and except as the indemnification agreements
of the Purchaser in Section 7.3

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<PAGE>

hereof may be limited by applicable law and (vi) there is not in effect any
order enjoining or restraining the Purchaser from entering into or engaging in
any of the transactions contemplated by this Agreement.

                  (d) The Purchaser recognizes that an investment in the Shares
is speculative and involves a high degree of risk, including a risk of total
loss of the Purchaser's investment, and the Purchaser has full cognizance of and
understands all of the risks related to the Purchaser's purchase of the Shares.

                  (e) All of the information provided to the Company or its
agents or representatives concerning the Purchaser's suitability to invest in
the Company and the representations and warranties contained herein, are
complete, true and correct as of the date hereof. The Purchaser understands that
the Company is relying on the statements contained herein to establish an
exemption from registration under federal and state securities laws.

                  (f) The address set forth in the signature page hereto is the
Purchaser's true and correct domicile and the Purchaser has no present intention
of becoming a domiciliary of any other state or jurisdiction.

                  (g) The Purchaser covenants to provide the Company an updated,
accurate and complete plan of distribution at all times during which the Company
is required to keep the Registration Statement in effect.

                  (h) The Purchaser understands and agrees that each certificate
or other document evidencing any of the Shares shall be endorsed with the legend
in substantially the form set forth below as well as any other legends required
by applicable law and the Purchaser covenants that the Purchaser shall not
transfer the Shares represented by any such certificate without complying with
the restrictions on transfer described in the legends endorsed on such
certificate and understands that the Company shall refuse to register any
transfer of the Shares not complying with the following legend:

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED ("SECURITIES ACT"), OR REGISTERED OR
QUALIFIED UNDER ANY APPLICABLE STATE SECURITIES LAWS. THESE SECURITIES MAY NOT
BE TRANSFERRED UNLESS (A) COVERED BY AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE SECURITIES ACT AND REGISTERED OR QUALIFIED UNDER APPLICABLE STATE SECURITIES
LAWS OR (B) EXEMPTIONS FROM SUCH REGISTRATION OR QUALIFICATION REQUIREMENTS ARE
AVAILABLE. AS A CONDITION TO

                                       11
<PAGE>

PERMITTING ANY TRANSFER OF THESE SECURITIES, THE COMPANY MAY REQUIRE THAT IT BE
FURNISHED WITH AN OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY TO THE EFFECT
THAT NO REGISTRATION OR QUALIFICATION IS LEGALLY REQUIRED FOR SUCH TRANSFER.

SECTION 6. Survival of Representatives, Warranties and Agreements. Notwith
standing any investigation made by any party to this Agreement or by the
Placement Agent, all covenants, agreements, representations and warranties made
by the Company and the Purchaser herein and in the certificates for the Shares
delivered pursuant hereto shall survive for a period of one (1) year following
the delivery to the Purchaser of the Shares being purchased and the payment
therefor.

SECTION 7.       Registration of the Shares: Compliance with the Securities Act.

         7.1 Registration Procedures and Expenses. Except for such times as the
Company may be required to suspend the use of a prospectus forming a part of the
Registration Statement, as further described in Section 5(b) hereof, the Company
shall use diligent efforts to:

                  (a) as soon as practicable, but in no event later than 30 days
following the date hereof, to prepare and file with the SEC the Registration
State ment on Form S-3 relating to the resale pursuant to Rule 415 under the
Securities Act of the Shares by the Purchaser from time to time through the
automated quotation system of Nasdaq or the facilities of any national
securities exchange on which the Common Stock is then traded or in
privately-negotiated transactions;

                  (b) subject to receipt of necessary information from the
Purchaser, to cause the Registration Statement to be declared effective by the
SEC within 90 days after the Registration Statement is filed with the SEC;

                  (c) prepare and file with the SEC such amendments and supple
ments to the Registration Statement and the prospectus used in connection
therewith as may be necessary to keep the Registration Statement effective until
the earlier of (i) the second anniversary of the Closing Date, (ii) the date on
which the Purchaser may sell all the Shares then held by the Purchaser within a
three-month period in accordance with Rule 144 under the Securities Act ("Rule
144") or any other rule of similar effect, or (iii) such time as all the Shares
purchased by the Purchaser have been sold pursuant to a registration statement;

                                       12
<PAGE>

                  (d) so long as the Registration Statement is effective
covering the resale of the Shares owned by the Purchaser, furnish to the
Purchaser with respect to the Shares registered under the Registration Statement
such reasonable number of copies of prospectuses and such other documents as the
Purchaser may reasonably request, in order to facilitate the public sale or
other disposition of all or any of the Shares by the Purchaser; provided,
however, that the obligation of the Company to deliver copies of prospectuses to
the Purchaser shall be subject to the receipt by the Company of reasonable
assurances from the Purchaser that the Purchaser will comply with the applicable
provisions of the Securities Act and of such other securities or blue sky laws
as may be applicable in connection with any use of such prospectuses;

                  (e) file documents required of the Company for normal blue sky
clearance in states specified in writing by the Purchaser; provided, however,
that the Company shall not be required to qualify to do business or consent to
service of process in any jurisdiction in which it is not so qualified or has
not so consented;

                  (f) bear all expenses in connection with the procedures in
paragraphs (a) through (e) of this Section 7.1 and the registration of the
Shares pursuant to the Registration Statement, other than fees and expenses, if
any, of counsel or other advisers to the Purchaser or underwriting discounts,
brokerage fees and commissions incurred by the Purchaser, if any; and

                  (g) with a view to making available to the Purchaser the
benefits of Rule 144 (or its successor rule) and any other rule or regulation of
the SEC that may at any time permit the Purchaser to sell the Shares to the
public without registration, the Company covenants and agrees to: (i) make and
keep public information available, as those terms are understood and defined in
Rule 144, until the earlier of (A) such date as all of the Purchaser's Shares
may be resold within a given three-month period pursuant to Rule 144 or any
other rule of similar effect or (B) such date as all of the Purchaser's Shares
shall have been resold and (ii) file with the SEC in a timely manner all reports
and other documents required of the Company under the Securities Act and under
the Exchange Act.

         7.2 Transfer of Shares After Registration. The Purchaser agrees that it
will not effect any disposition of the Shares or its right to purchase the
Shares that would constitute a sale within the meaning of the Securities Act or
pursuant to any applicable state securities or blue sky laws, except as
contemplated in the Registration Statement referred to in Section 7.1 and that
it will promptly notify the Company of any changes in the information set forth
in the Registration Statement regarding the Purchaser or its plan of
distribution.

                                       13
<PAGE>

         7.3      Indemnification.  For the purpose of this Section 7.3:

                           (i)      the term "Purchaser" shall include the
Purchaser and any affiliate of such Purchaser; and

                           (ii)     the term "Registration Statement" shall
include any final prospectus, exhibit, supplement or amendment included in or
relating to the Registration Statement referred to in Section 7.1.

                  (a) The Company agrees to indemnify and hold harmless the
Purchaser and each person, if any, who controls the Purchaser within the meaning
of the Securities Act, against any losses, claims, damages, liabilities or
expenses, joint or several, to which the Purchaser or such controlling person
may become subject, under the Securities Act, the Exchange Act, or any other
federal or state statutory law or regulation, or at common law or otherwise
(including in settlement of any litigation, if such settlement is effected with
the written consent of the Company), insofar as such losses, claims, damages,
liabilities or expenses (or actions in respect thereof as contemplated below)
arise out of or are based upon any untrue statement or alleged untrue statement
of any material fact contained in the Registration Statement, including the
prospectus, financial statements and schedules, and all other documents filed as
a part thereof, as amended at the time of effectiveness of the Registration
Statement, including any information deemed to be a part thereof as of the time
of effectiveness pursuant to paragraph (b) of Rule 430A, or pursuant to Rule
434, of the 1933 Act Rules and Regulations, or the prospectus, in the form first
filed with the SEC pursuant to Rule 424(b) of the 1933 Act Rules and
Regulations, or filed as part of the Registration Statement at the time of
effectiveness if no Rule 424(b) filing is required (the "Prospectus"), or any
amendment or supplement thereto, or (in the case of the Registration Statement
or any amendment thereof) arise out of or are based upon the omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, or (in the
case of the Prospectus and any amendment thereof or supplement thereto) arise
out of or are based upon the omission or alleged omission to state a material
fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances in which they were made, not misleading, and will
reimburse the Purchaser and each such controlling person for any legal and other
expenses reason ably incurred as such expenses are reasonably incurred by the
Purchaser or such controlling person in connection with investigating,
defending, settling, compromis ing or paying any such loss, claim,
damage, liability, expense or action; provided, however, that the Company will
not be liable in any such case to the extent that any such loss, claim, damage,
liability or expense arises out of or is based upon (i) an untrue statement or
alleged untrue statement or omission or alleged omission made in the
Registration Statement, the

                                       14
<PAGE>

Prospectus or any amendment or supplement thereto in reliance upon and in
conformity with written information furnished to the Com pany by or on behalf of
the Purchaser expressly for use therein, or (ii) the failure of the Purchaser to
comply with the covenants and agreements contained in Sections 5(b) or 7.2
hereof respecting sale of the Shares, or (iii) the inaccuracy of any
representations made by the Purchaser herein or (iv) any statement or omission
in any Prospectus that is corrected in any subsequent Prospectus that was
delivered to the Purchaser prior to the pertinent sale or sales by the
Purchaser.

                  (b) The Purchaser will severally indemnify and hold harmless
the Company, each of its directors, each of its officers who signed the
Registration Statement and each person, if any, who controls the Company within
the meaning of the Securities Act, against any losses, claims, damages,
liabilities or expenses to which the Company, each of its directors, each of its
officers who signed the Registration Statement or controlling person may become
subject, under the Securities Act, the Exchange Act, or any other federal or
state statutory law or regulation, or at common law or otherwise (including in
settlement of any litigation, if such settlement is effected with the written
consent of the Purchaser) insofar as such losses, claims, damages, liabilities
or expenses (or actions in respect thereof as contemplated below) arise out of
or are based upon (i) any failure by the Purchaser to comply with the covenants
and agreements contained in Sections 5(b) or 7.2 hereof respecting the sale of
the Shares or (ii) the inaccuracy of any representation made by the Purchaser
herein or (iii) any untrue or alleged untrue statement of any material fact
contained in the Registration Statement, the Prospectus, or any amendment or
supplement thereto, or (in the case of the Registration Statement or any
amendment thereof) the omission or alleged omission to state therein a material
fact required to be stated therein or necessary to make the statements therein
not misleading, or (in the case of the Prospectus and any amendment thereof or
supplement thereto) the omission or alleged omission to state a material fact
required to be stated therein or necessary to make the statements therein, in
light of the circumstances in which they were made, not misleading, in each case
to the extent, but only to the extent, that such untrue statement or alleged
untrue statement or omission or alleged omission was made in the Registration
Statement, the Prospectus, or any amendment or supplement thereto, in reliance
upon and in conformity with written information furnished to the Company by or
on behalf of the Purchaser expressly for use therein, and will reimburse the
Company, each of its directors, each of its officers who signed the Registration
Statement or controlling person for any legal and other expense reasonably
incurred, as such expenses are reasonably incurred by the Company, each of its
directors, each of its officers who signed the Registration Statement or
controlling person in connection with investigating, defending, settling,
compromising or paying any such loss, claim, damage, liability, expense or
action.

                                       15
<PAGE>

                  (c) Promptly after receipt by an indemnified party under this
Section 7.3 of notice of the threat or commencement of any action, such
indemnified party will, if a claim in respect thereof is to be made against an
indemnifying party under this Section 7.3, promptly notify the indemnifying
party in writing thereof, but the omission so to notify the indemnifying party
will not relieve it from any liability which it may have to any indemnified
party for contribution or otherwise to the extent it is not prejudiced as a
result of such failure. In case any such action is brought against any
indemnified party and such indemnified party seeks or intends to seek indemnity
from an indemnifying party, the indemnifying party will be entitled to
participate in, and, to the extent that it may wish, jointly with all other
indemnifying parties similarly notified, to assume the defense thereof with
counsel reasonably satisfactory to such indemnified party; provided, however, if
the defendants in any such action include both the indemnified party and the
indemnifying party and the indemnified party shall have reasonably concluded
that there may be a conflict between the positions of the indemnifying party and
the indemnified party in conducting the defense of any such action or that there
may be legal defenses available to it and/or other indemnified parties which are
different from or additional to those available to the indemnifying party, the
indemnified party or parties shall have the right to select separate counsel to
assume such legal defenses and to otherwise participate in the defense of such
action on behalf of such indemnified party or parties. Upon receipt of notice
from the indemnifying party to such indemnified party of its election so to
assume the defense of such action and approval by the indemnified party of
counsel, the indemnifying party will not be liable to such indemnified party
under this Section 7.3 for any legal or other expenses subsequently incurred by
such indemnified party in connection with the defense thereof unless (i) the
indemnified party shall have employed such counsel in connection with the
assumption of legal defenses in accordance with the proviso to the preceding
sentence (it being understood, however, that the indemnifying party shall not be
liable for the expenses of more than one separate counsel, reasonably
satisfactory to the indemnifying party, representing the indemnified parties who
are parties to such action) or (ii) the indemnified party shall not have
employed counsel reasonably satisfactory to the indemnified party to represent
the indemnified party within a reasonable time after notice of commencement of
action, in each of which cases the reasonable fees and expenses of counsel shall
be at the expense of the indemnifying party.

                  (d) If the indemnification provided for in this Section 7.3 is
required by its terms but is for any reason held to be unavailable to or
otherwise insufficient to hold harmless an indemnified party under paragraphs
(a), (b) or (c) of this Section 7.3 in respect to any losses, claims, damages,
liabilities or expenses referred to herein, then each applicable indemnifying
party shall contribute to the amount paid or payable by such indemnified party
as a result of any losses, claims,

                                       16
<PAGE>

damages, liabilities or expenses referred to herein (i) in such proportion as is
appropriate to reflect the relative benefits received by the Company and the
Purchaser from the placement of the Shares or (ii) if the allocation provided by
clause (i) above is not permitted by applicable law, in such proportion as is
appropriate to reflect not only the relative benefits referred to in clause (i)
above but the relative fault of the Company and the Purchaser in connection with
the statements or omissions or inaccuracies in the representations and
warranties in this Agreement which resulted in such losses, claims, damages,
liabilities or expenses, as well as any other relevant equitable considerations.
The respective relative benefits received by the Company on the one hand and the
Purchaser on the other shall be deemed to be in the same proportion as the
amount paid by the Purchaser to the Company pursuant to this Agreement for the
Shares purchased by the Purchaser that were sold pursuant to the Registration
Statement bears to the difference (the "Difference") between the amount the
Purchaser paid for the Shares that were sold pursuant to the Registration State
ment and the amount received by the Purchaser from such sale. The relative fault
of the Purchaser shall be determined by reference to, among other things,
whether the untrue or alleged statement of a material fact or the omission or
alleged omission to state a material fact or the inaccurate or the alleged
inaccurate representation and/or warranty relates to information supplied by the
Company or by the Purchaser and the parties' relative intent, knowledge, access
to information and opportunity to correct or prevent such statement or omission.
The amount paid or payable by a party as a result of the losses, claims,
damages, liabilities and expenses referred to above shall be deemed to include,
subject to the limitations set forth in paragraph (c) of this Section 7.3, any
legal or other fees or expenses reasonably incurred by such party in connection
with investigating or defending any action or claim. The provisions set forth in
paragraph (c) of this Section 7.3 with respect to the notice of the threat or
commencement of any threat or action shall apply if a claim for contribution is
to be made under this paragraph (d); provided, however, that no additional
notice shall be required with respect to any threat or action for which notice
has been given under paragraph (c) for purposes of indemnification. The Company
and the Purchaser agree that it would not be just and equitable if contribution
pursuant to this Section 7.3 were determined solely by pro rata allocation (even
if the Purchaser were treated as one entity for such purpose) or by any other
method of allocation which does not take account of the equitable considerations
referred to in this paragraph. Notwithstanding the provisions of this Section
7.3, the Purchaser shall not be required to contribute any amount in excess of
the amount by which the Difference exceeds the amount of any damages that the
Purchaser has otherwise been required to pay by reason of such untrue or alleged
untrue statement or omission or alleged omission. No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation.

                                       17
<PAGE>

SECTION 8. Broker's Fee. Except as otherwise agreed to between the Purchaser and
the Placement Agent, the Purchaser acknowledges that the Company intends to pay
to the Placement Agent a fee in respect of the sale of the Shares to the
Purchaser. Each of the parties hereto hereby represents that, on the basis of
any actions and agreements by it, there are no other brokers or finders entitled
to compensation from the other party in connection with the sale of Shares to
the Purchaser.

SECTION 9. Notices. All notices, requests, consents and other communications
hereunder shall be in writing, shall be mailed by first-class registered or
certified airmail, confirmed facsimile or nationally recognized overnight
express courier postage prepaid, and shall be deemed given when so mailed and
shall be delivered as addressed as follows:

                  (a)   if to the Company, to:
                        Rare Medium Group, Inc.
                        65 Fifth Avenue, 29th Floor
                        New York, NY 10017
                        ATTN.:  Robert Lewis, Vice President and General Counsel

                        with a copy to:

                        Skadden, Arps, Slate, Meagher & Flom LLP
                        919 Third Avenue
                        New York, NY  10022
                        ATTN.:  Gregory A. Fernicola, Esq.

or to such other person at such other place as the Company shall designate to
the Purchaser in writing; and

                  (b) if to the Purchaser, at its address as set forth at the
end of this Agreement, or at such other address or addresses as may have been
furnished to the Company in writing.

SECTION 10. Changes.  This Agreement may not be modified or amended except
pursuant to an instrument in writing, signed by the Company and the Purchaser.

SECTION 11. Headings.  The headings of the various sections of this Agreement
have been inserted for convenience of reference only and shall not be deemed to
be part of this Agreement.

SECTION 12. Severability. In case any provision contained in this Agreement
should be invalid, illegal or unenforceable in any respect, the validity,
legality and

                                       18
<PAGE>

enforceability of the remaining provisions contained herein shall
not in any way be affected or impaired thereby.

SECTION 13. Governing Law.  This Agreement shall be governed by and construed
in accordance with the laws of the State of New York, without giving effect to
any choice of law provisions thereof.

SECTION 14. Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall constitute an original, but both of which,
when taken together, shall constitute but one instrument, and shall become
effective when one or more counterparts have been signed by each party hereto
and delivered to the other party.

SECTION 15. Entire Agreement. This Agreement (including the attachments hereto)
contains the entire agreement of the parties with respect to the subject matter
hereof and supersedes and is in full substitution for any and all prior oral or
written agreements and understandings between them related to such subject
matter, and neither party hereto shall be liable or bound to the other party
hereto in any manner with respect to such subject matter by any representations,
indemnities, covenants or agreements except as specifically set forth herein.

                                       19
<PAGE>

                  IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be executed by their duly authorized representatives shown below:

                   NAME OF PURCHASER:

                                            By:
                                                --------------------------------
                                                Name:
                                                Title:

                                            Address:   _________________________
                                            Telephone: _________________________
                                            Fax: _______________________________

                                            Date: ______________________________

                                     Price Per
Number of Shares                     Share In                  Aggregate
to Be Purchased                      Dollars                   Price
--------------------                 -------------------       -----------------

Accepted and Agreed to by:
                                            RARE MEDIUM GROUP, INC.
                                            By:
                                                   -----------------------------
                                            Name
                                                   -----------------------------
                                            Title:
                                                   -----------------------------
                                            Date:
                                                   -----------------------------

                                       20
<PAGE>

                                                                      Appendix I
                                                                    (one of two)

                             RARE MEDIUM GROUP, INC.

                         STOCK CERTIFICATE QUESTIONNAIRE

Pursuant to Section 3 of the Agreement, please provide us with the following
information:

1.       The exact name that your Shares are to be registered in (this is the
         name that will appear on your stock certificate(s)). You may use a
         nominee name if appropriate:

         ___________________________________

2.       The relationship between the Purchaser of the Shares and the Registered
         Holder listed in response to item 1 above:

         ___________________________________

3.       The mailing address of the Registered Holder listed in response to item
         1 above:

         ___________________________________
         ___________________________________
         ___________________________________

4.       The Social Security Number or Tax Identification Number of the
         Registered Holder listed in response to item 1 above:

         ___________________________________

                                       21
<PAGE>

                                                                      Appendix I
                                                                    (two of two)

                             RARE MEDIUM GROUP, INC.

                      REGISTRATION STATEMENT QUESTIONNAIRE

                  In connection with the preparation of the Registration
Statement, please provide us with the following information:

                  1. Pursuant to the "Selling Shareholder" section of the
Registration Statement, please state your or your organization's address and
name exactly as it should appear in the Registration Statement:

                       ___________________________________

                       ___________________________________

                       ___________________________________

                  2. Please provide the number of shares of Common Stock that
you or your organization will own immediately after Closing, including those
Shares purchased by you or your organization pursuant to this Purchase Agreement
and those shares of Common Stock purchased by you or your organization through
other transactions:

                  3. Have you or your organization had any position, office or
other material relationship within the past three years with the Company or its
affiliates?

                         Yes                       No

                  If yes, please indicate the nature of any such relationships
below:

                       ___________________________________

                       ___________________________________

                       ___________________________________

                  4. Does the plan of distribution in the draft form of
Registration Statement provided to you reflect your current plan of
distribution?

                         Yes                       No

                  If no, please attach a copy of your current plan of
distribution.

                                       22
<PAGE>

                                                                     Appendix II

Attention:

                             PURCHASER'S CERTIFICATE OF SUBSEQUENT SALE

      The undersigned (an officer of, or other person duly authorized by),

________________________________________________________________________________

              [fill in official name of individual or institution]

hereby certifies that he/she [said institution] is the Purchaser of the shares
evidenced by the attached certificate, and as such, sold such shares on       in
accordance with Registration Statement number _____________, dated _________ ,
and the requirement of delivering a current prospectus by the Company has been
complied with in connection with such sale.

                   NAME OF PURCHASER:

                                            By:
                                                --------------------------------
                                                Name:
                                                Title:

                                            Address:
                                                       -------------------------
                                            Telephone:
                                                       -------------------------
                                            Fax:
                                                       -------------------------

                                            Date:
                                                       -------------------------

                                       23EXHIBIT 10.1

                              AMENDED AND RESTATED
                         OCEANEERING INTERNATIONAL, INC.
                    SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

                                    ARTICLE I
                                     Purpose

      1.1 Purpose of Plan. The purpose of the Amended and Restated Oceaneering
International, Inc. Supplemental Executive Retirement Plan (the "Plan") is to
advance the interests of Oceaneering International, Inc. and its subsidiaries
and affiliates (hereinafter sometimes collectively or individually referred to
as the "Company") and of its owners by attracting and retaining in its employ
highly qualified individuals for the successful conduct of its business. The
Company hopes to accomplish these objectives by helping to provide for the
retirement of its key employees selected to participate in the Plan.

      1.2 ERISA Status. The Plan is intended to qualify for certain exemptions
under Title I of the Employee Retirement Income Security Act of 1974, as amended
("ERISA"), provided for plans that are unfunded and maintained primarily for the
purpose of providing deferred compensation for a select group of management or
highly compensated employees.

                                   ARTICLE II
                                   Definitions

      2.1   "Account" means collectively the Participant's Company Account
and the Participant's Deferral Account.

      2.2 "Account Value" means, at any given time, the sum of all amounts
credited to the Participant's Account, adjusted for any income, gain or loss and
any payments attributable to such account.

      2.3 "Active Participant" means a Participant who qualifies as an Active
Participant under Section 3.1.

      2.4 "Beneficiary" means the person designated by each Participant, on a
form provided by the Company for this purpose, to receive the Participant's
distribution under Article V in the event of the Participant's death prior to
receiving complete payment of his Account. In order to be effective under this
Plan, any form designating a Beneficiary must be delivered to the Committee
before the Participant's death. In the absence of such an effective designation
of a Beneficiary, "Beneficiary" means the Participant's spouse or, if there is
no spouse on the date of Participant's death, the Participant's estate.

      2.5 "Board" means the Board of Directors of the Company or the board of
directors of a company that is a successor to the Company.

      2.6 "Bonus" means any bonus paid to a Participant under any plan, policy
or program of the Company providing for the payment of annual bonuses to
employees.

      2.7 "Change of Control" means if (i) a third person, including a "group"
as defined in Section 13(d)(5) of the Securities Exchange Act of 1934, becomes
the beneficial owner of shares

                                     Page 1
<PAGE>
of Oceaneering International, Inc. having 30% or more of the total number of
votes that may be cast for the election of directors of Oceaneering
International, Inc. or (ii) as a result of, or in connection with, any cash
tender or exchange offer, merger or other business combination, sale of assets
or contested election or any combination of the foregoing transactions (a
"Transaction"), the persons who were directors of Oceaneering International,
Inc. before the Transaction shall cease to constitute a majority of the Board of
Oceaneering International, Inc. or any successor to Oceaneering International,
Inc. Without limiting the foregoing, no "Change of Control" shall be deemed to
have taken place for purposes of this Plan, if a person or persons is appointed
or elected as a member(s) of the Board as a result of or in connection with a
Transaction or other event unless item (i) or (ii) above shall also have
occurred.

      2.8 "Company Account" means the account maintained by the Committee
reflecting each Participant's Company Contributions, together with any income,
gain or loss and any payments attributable to such account.

      2.9 "Company Contribution" means the total contributions credited to a
Participant's Company Account for any one Plan Year pursuant to the provisions
of Section 3.2.

      2.10 "Company Contribution Value" means, at any given time with respect to
a particular Company Contribution, the amount of the Company Contribution,
adjusted by any income, gain or loss and any payments attributable to such
account.

      2.11  "Compensation" means monthly base salary before any reductions.

      2.12  "Committee" means the committee appointed by the Board to
administer the Plan.

      2.13 "Deferral Account" means the account maintained by the Committee
reflecting each Participant's Deferral Contributions, together with any income,
gain or loss and any payments attributable to such account.

      2.14 "Deferral Account Value" means, at any given time, 100% of the total
amount of Deferral Contributions credited to the Participant's Deferral Account,
adjusted by any income, gain or loss and any payments attributable to such
account.

      2.15 "Deferral Contribution" means Compensation or Bonus that is credited
to a Participant's Deferral Account pursuant to the provisions of Sections 3.3
and 3.4.

      2.16 "Effective Date" means July 1, 1997 as to the original Plan, and
January 1, 2000 as to this Amended and Restated Plan.

      2.17 "Eligible Employee" means a highly compensated or management employee
of the Company who meets the criteria established by the Committee to determine
eligibility for the Plan.

      2.18 "Fiscal Year" means the twelve-month period commencing each April 1.

      2.19 "Participant" means an individual who is or was an Eligible Employee
and has an Account balance under the Plan, including an Active Participant.

      2.20  "Plan" means this Amended and Restated Oceaneering International,
Inc. Supplemental Executive Retirement Plan and any amendments hereto.

      2.21 "Plan Obligations" means, on any given date, the sum of the Account
Values of all Participants. With respect to each Participant, "Plan Obligations"
means such Participant's Account Value on the applicable date.

      2.22 "Plan Year" means the 12-month period beginning July 1 and ending
June 30.

                                     Page 2
<PAGE>
      2.23 "Selected Index" means, with respect to any Account, the investment
vehicle with reference to which the value of such Account is determined.

      2.24  "Vested Account Value" means the sum of the Participant's Vested
Company Contribution Values and the Participant's Deferral Account Value.

      2.25 "Vested Company Contribution Value" means, with respect to a
particular Company Contribution, the applicable Company Contribution Value
multiplied by the applicable Vested Percentage.

      2.26 "Vested Percentage" means the percentage as to which a Participant is
vested in a particular contribution, as determined under Section 4.5.

      2.27 "Year[s] of Participation" means each 12 consecutive months of
employment after the individual first becomes a Participant.

                                   ARTICLE III
                                  Contributions

      3.1 Selection of Active Participants. With respect to each Plan Year or
portion thereof, the Committee shall select, in its discretion, those Eligible
Employees approved to participate in the Plan, or participation may be
determined in any other manner authorized by the Company. The selected
individuals shall be the Active Participants for that Plan Year. Active
Participant status shall terminate upon a Participant's termination of
employment, and no contributions shall be made with respect to periods
thereafter unless the Participant resumes employment and is again selected as an
Active Participant in the Plan.

      3.2 Company Contributions. With respect to each Plan Year or portion
thereof, the Committee shall declare a contribution percentage for each Active
Participant's Company Account. The Committee has the right to change the
contribution percentage for a Participant during the Plan Year. The contribution
percentage declared for a Participant may, but need not be, the same as the
contribution percentage declared for other Participants. Company Contributions
shall be credited as of the last day of each month of the Plan Year or at such
other times as determined by the Committee to each Active Participant's Company
Account, in an amount equal to the contribution percentage declared for the
Participant multiplied by the Participant's Compensation.

      3.3 Participant Deferrals. For any Fiscal Year, the Committee may, in its
sole discretion, allow an Active Participant to elect to defer each month the
present payment by the Company of any whole percentage (or dollar amount) of his
Compensation that would otherwise be paid during such Fiscal Year, and instead
have that amount credited to his Deferral Account. The Compensation otherwise
currently payable to the Participant shall be reduced by the amount the
Participant elected to have contributed to the Participant's Deferral Account,
which shall be a Deferral Contribution. In addition, for any Fiscal Year, the
Committee may, in its sole discretion, allow an Active Participant to elect to
defer the present payment by the Company of any whole percentage (or dollar
amount) of his Bonus earned during such Fiscal Year, and instead have that
amount credited to his Deferral Account. The Bonus otherwise payable to the
Participant shall be reduced by the amount the Participant elected to have
contributed to the Participant's Deferral Account, which shall be a Deferral
Contribution.

                                     Page 3
<PAGE>
      3.4 Manner of Deferral Election. The Committee shall prescribe, in its
sole discretion, the procedures and limitations for Deferral Contributions, if
any. Elections to make Deferral Contributions shall be in writing, signed by the
Participant, in a form supplied by the Company. Unless the Committee otherwise
provides in its sole discretion, the form must be completed, signed and returned
to the Committee prior to the beginning of the Fiscal Year for which the
election is to be effective and a Participant's election shall be irrevocable
for the applicable period(s) for which it was filed. The Committee may provide
that a Participant's election shall be effective until it is revoked. An
election may be revoked prospectively by notice to the Participant from the
Committee that the election is terminated.

                                   ARTICLE IV
                                    Accounts

      4.1 Company Accounts. The Committee shall establish and maintain an
individual bookkeeping account for each Participant, which shall be the
Participant's Company Account. The Committee shall credit the amount of each
Company Contribution made on behalf of a Participant to such Participant's
Company Account as of the last day of each month of the Plan Year for which the
Company Contribution was made or at such other times as determined by the
Committee. The Committee shall further debit and/or credit the Participant's
Company Account with any income, gain or loss and any payments attributable to
such Account on a daily basis, or at such other times as it shall determine
appropriate. The sole purpose of the Participant's Company Account is to record
and reflect the Company's Plan Obligations related to Company Contributions to
each Participant under the Plan. The Company shall not be required to segregate
any of its assets with respect to Plan Obligations, nor shall any provision of
the Plan be construed as constituting such segregation.

      4.2 Deferral Accounts. The Committee shall establish and maintain an
individual bookkeeping account for each Participant, which shall be the
Participant's Deferral Account. The Committee shall credit the amount of each
Deferral Contribution made on behalf of a Participant to such Participant's
Deferral Account as soon as administratively feasible following the applicable
deferral. The Committee shall further debit and/or credit the Participant's
Deferral Account with any income, gain or loss and any payments attributable to
such Account on a daily basis, or at such other times as it shall determine
appropriate. The sole purpose of the Participant's Deferral Account is to record
and reflect the Company's Plan Obligations related to Deferral Contributions to
each Participant under the Plan. The Company shall not be required to segregate
any of its assets with respect to Plan Obligations, nor shall any provision of
the Plan be construed as constituting such segregation.

      4.3   Accruals to the Accounts.
            (a) The Committee shall designate one or more investment vehicles to
      serve as an index or indices for the purpose of determining amounts to be
      debited and/or credited to the Participant's Account. On a form supplied
      by the Company, a Participant may choose to allocate Company Contributions
      and his Deferral Contributions to the designated investment vehicles, and
      may change such allocation with respect to future Company Contributions
      and Deferral Contributions, such change in allocation to be

                                     Page 4
<PAGE>
      effective immediately. On a form supplied by the Company, a Participant
      may also exchange amounts already in the Participant's Company Account and
      Deferral Account between and among the designated investment vehicles as
      frequently as daily, or at other times as shall be determined by the
      Committee. A copy of any available Prospectus or other disclosure
      materials for each investment vehicle shall be made available to each
      Participant upon request. The investment vehicle pursuant to which
      investment gains/losses to any Account thereof are to be determined shall
      be referred to as the "Selected Index." The Committee shall select from
      time to time the Selected Index a Participant shall be deemed to have
      elected for purposes of all or any portion of his Account as to which he
      has not actually made an allocation election. The Committee may change at
      any time the Selected Indexes available under the Plan.

           (b)    Any "Selected Index" is solely for the purpose of determining
                  investment gains/losses to an Account, and nothing herein
                  shall obligate the Company to invest any part of its assets in
                  any investment vehicle serving as a Selected Index or in any
                  other investments.

      4.4 Nature and Source of Payments. The obligation to make distributions
under this Plan with respect to each Participant shall constitute a liability of
the Company to the Participant and any Beneficiary in accordance with the terms
of this Plan. All distributions payable hereunder shall be made from the general
assets of the Company, and nothing herein shall be deemed to create a trust of
any kind between the Company and any Participant or other person. No special or
separate fund need be established nor need any other segregation of assets be
made to assure that distributions will be made under this Plan. No Participant
or Beneficiary shall have any interest in any particular asset of the Company by
virtue of the existence of this Plan. Each Participant and Beneficiary shall be
an unsecured creditor of the Company.

      4.5   Vesting.
            (a) Normal Vesting: A Participant's Vested Percentage of each Plan
      Year's Company Contribution, adjusted by any income, gain or loss and any
      payments attributable thereto, shall be determined at the end of each Plan
      Year by the number of full Plan Years that the Participant remains as a
      Participant in the continuous employment of the Company from and after the
      first day of the Plan Year with respect to which the Company Contribution
      is made, as set forth in the following schedule:

---------------------------------------- -------------------------------------
     FULL PLAN YEARS OF CONTINUOUS
 EMPLOYMENT AS A PARTICIPANT BEGINNING
        WITH CONTRIBUTION YEAR                    VESTING PERCENTAGE
---------------------------------------- -------------------------------------
Less than 1                                               0%
---------------------------------------- -------------------------------------
At least 1 but less than 2                               33%
---------------------------------------- -------------------------------------
At least 2 but less than 3                               66%
---------------------------------------- -------------------------------------
At least 3                                               100%
---------------------------------------- -------------------------------------

                                     Page 5
<PAGE>
                  A Participant's Vested Percentage with regard to the
      Participant's Deferral Account will always be 100%.

            (b) Forfeiture: Upon termination of employment other than as
      described in Section 4.5(c), a Participant shall forfeit all amounts
      credited to his Account other than his Vested Account Value determined as
      of the close of business coincident with or next following the date on
      which the Participant terminated employment; provided, however, that
      amounts not so forfeited shall continue to be debited and credited in
      accordance with Section 5.4 from and after termination of employment.

            (c) Accelerated Vesting: The schedule above notwithstanding, the
      Participant shall have a Vested Percentage of 100% for his entire Account
      upon the soonest of the following to occur during the Participant's
      employment with the Company: (i) the date that the Participant has
      completed 10 Years of Participation, (ii) the date that the sum of the
      Participant's attained age and Years of Participation equals 65, (iii) the
      date of termination of the Participant's employment as a result of the
      Participant's death or disability, or (iv) the date of termination of the
      Participant's employment within 24 months following a Change of Control.
      In the event the Company terminates the Plan, all Participants will be
      100% vested in Accounts not theretofore forfeited. Cessation of Company
      Contributions under the Plan shall not be deemed a termination of the
      Plan.

                                    ARTICLE V
                                  Distributions

      5.1 Occasions for Distributions. The Company shall distribute a
Participant's Vested Account Value following the events and in the manner set
forth in this Article V. A Participant's Account shall be debited in the amount
of any distribution made from the Account as of the date of the distribution.

      5.2 Distribution Elections. Subject to rules established by the Committee,
a Participant may file a distribution election directing how his Vested Account
Value shall be distributed following his termination of employment for any
reason. Such distribution election must be made on a form supplied by the
Company for that purpose. To be effective, such distribution election must be
filed at least 12 months prior to the date the Participant's Vested Account
Balance is to be distributed. In the event the Participant files more than one
distribution election, the last distribution election shall control. Anything to
the contrary notwithstanding, the Committee, in its sole discretion, has the
right to substitute a lump-sum payment to the Participant equal to the
Participant's Vested Account Value

      5.3 Distribution on Account of Termination of Employment. If a Participant
terminates employment with the Company for any reason, including by reason of
death or disability, the Company shall distribute, or begin distributing to the
Participant (or the Participant's Beneficiary) within 45 days, the full amount
of the Participant's Vested Account Value. Such distributions shall be in the
form specified on the most recently filed distribution election form (unless the
Committee elects to substitute a lump-sum payment as described in

                                     Page 6
<PAGE>
Section 5.2). If no election form exists, the distribution will be distributed
as soon as practicable in the form of a lump-sum payment equal to the
Participant's Vested Account Value.

      5.4 Continuation of Accounts after Commencement of Distributions. If a
Participant's Vested Account Value is to be distributed in a form other than a
lump sum, then the Account shall continue to be credited (or debited) with
earnings or losses as described in Section 4.3, until the entire Vested Account
Value has been distributed.

                                   ARTICLE VI
                                    Committee

      6.1 Authority. The Committee shall have the authority, subject to the
provisions of the Plan, to establish, adopt and revise such rules and
regulations and to make all such determinations relating to the Plan as it may
deem necessary or appropriate for the administration of the Plan. The Committee
may correct any defect or supply any omission or reconcile any inconsistency in
this Plan or any agreement or document related to this Plan in the manner and to
the extent the Committee deems necessary or appropriate to carry this Plan into
effect. The Committee's interpretation of the Plan, and all decisions and
determinations by the Committee with respect to the Plan, shall be final and
binding on all parties.

      6.2 Delegation of Authority. The Committee may delegate any of its powers
or responsibilities to one or more members of the Committee or any other person
or entity.

      6.3   Procedures.  The Committee may establish procedures to conduct
its operations and to carry out its rights and duties under the Plan.

      6.4 Compensation and Expenses. The members of the Committee shall serve
without compensation for their services, but all expenses of the Committee and
all other expenses incurred in administering the Plan shall be paid by the
Company.

      6.5 Statements to Participants. Periodically, with the frequency
determined by the Committee in its sole discretion, but not less frequently than
annually, the Committee shall transmit to each Participant a written statement
regarding the Participant's Account activity for the period beginning on the
date following the effective date of the preceding statement and ending on the
effective date of the current statement.

      6.6 Indemnification. The Company shall indemnify the members of the
Committee and/or any of their delegates against the reasonable expenses,
including attorneys' fees, actually and appropriately incurred by them in
connection with the defense of any action, suit or proceeding, or in connection
with any appeal thereto, to which they or any of them may be a party by reason
of any action taken or failure to act under or in connection with the Plan and
against all amounts paid by them in settlement thereof (provided such settlement
is approved by independent legal counsel selected by the Company) and against
all amounts paid by them in satisfaction of a judgment in any such action, suit
or proceeding, except in relation to matters as to which it shall be adjudged in
a suit of final adjudication that such Committee member is liable for fraud,
deliberate dishonesty or willful misconduct in the performance of his duties;
provided that within 60 days after the institution of any such action, suit or
proceeding a Committee member has offered in writing to allow the Company, at
its own expense, to handle and defend any such action, suit or proceeding.

                                     Page 7
<PAGE>
                                   ARTICLE VII
                            Amendment and Termination

      Power to Amend and/or Terminate Reserved. The Company retains the
unilateral power to amend the Plan, or to terminate the Plan at any time.
Without the consent of affected Participants or Beneficiaries, no such amendment
or termination shall adversely affect any Participants or Beneficiaries with
respect to their right to receive the applicable Vested Account Value,
determined as of the later of the date that the Plan amendment or termination is
adopted or by its terms to be effective.

                                  ARTICLE VIII
                                  Miscellaneous

      8.1 Plan Does Not Affect the Rights of Employee. Nothing contained in this
Plan shall be deemed to give any Participant the right to be retained in the
employment of the Company, to interfere with the rights of the Company to
discharge any Participant at any time or to interfere with a Participant's right
to terminate his employment at any time.

      8.2 Nonalienation and Nonassignment. Except for debts owed the Company by
a Participant or Beneficiary, no amounts payable or to become payable under the
Plan to a Participant or Beneficiary shall be subject in any manner to
anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or
charge, whether voluntary, involuntary, by operation of law or otherwise, and
any attempt to so anticipate, alienate, sell, transfer, assign, pledge, encumber
or charge the same by a Participant or Beneficiary prior to distribution as
herein provided shall be null and void.

      8.3 Tax Withholding. The Company shall have the right to deduct from any
payments to a Participant or Beneficiary under the Plan any taxes required by
law to be withheld with respect to such payments. In addition, the Company shall
have the right to deduct from any Participant Deferrals or Company Contributions
any applicable employment taxes or other required withholdings with respect to a
Participant.

      8.4 Setoffs. To the fullest extent permitted by law, any amounts owed by a
Participant or Beneficiary to the Company may be deducted by the Company from
such Participant's Vested Account Value at the time and to the extent that such
Vested Account Value is otherwise payable hereunder.

      8.5 Construction. Unless the context clearly indicates to the contrary,
the masculine gender shall include the feminine and neuter, and the singular
shall include the plural and vice versa.

      8.6   Applicable Law.  The terms and provisions of the Plan shall be
construed in accordance with the laws of the State of Texas.

      8.7   Successors.  The Plan shall be binding upon the Company and its
successors and assigns, in accordance with its terms.

      8.8 Claims Procedure. A Participant or Beneficiary may make a claim for
Plan benefits by filing a written application for benefits with the Committee.
Such application shall

                                     Page 8
<PAGE>
set forth the nature of the claim and any other information that the Committee
may reasonably request. The Committee shall notify the applicant of the benefits
determination within a reasonable time after receipt of the claim, which shall
not exceed 90 days unless special circumstances require an extension of time for
processing the claim. If such an extension is required, written notice of the
extension shall be furnished to the applicant prior to the end of the initial
90-day period. In no event shall such an extension exceed a period of 90 days
from the end of the initial period. The extension notice shall indicate the
special circumstances requiring an extension of time, and the date by which a
final decision is expected to be rendered.

      Notice of a claim denial, in whole or in part, shall be set forth in a
manner calculated to be understood by the applicant and shall contain the
following:

            (a)   the specific reason or reasons for the denial; and
            (b)   a specific reference to the pertinent Plan provisions on
      which the denial is based; and
            (c)   a description of any additional material or information
      necessary for the applicant to perfect the claim and an explanation of
      why such material or information is necessary; and
            (d)   an explanation of the Plan's claims review procedure.

      Participants shall be given timely written notice of the time limits
set forth herein for determinations on claims, appeal of claim denial and
decisions on appeal. If notice of a claim determination is not provided within
the applicable time frame described above, the claim shall be deemed denied and
the applicant may appeal the denial as set forth below.

      If a written claim results in a claim denial, either in whole or in part,
the applicant has the right to appeal. The appeal must be in writing. The
administrative process for appealing a claim is:

      Upon receipt of a claim denial, a Participant may file a written request,
      including any additional information supporting the claim, for
      reconsideration to the Committee within 60 days of receiving notification
      that the claim is denied.

      The Committee normally shall render a decision no later than 60 days
      following receipt of the request for review. The Participant may request a
      formal hearing before the Committee which the Committee may grant in its
      discretion. Under special circumstances which require an extension of time
      for rendering a decision (including but not limited to the need to hold a
      hearing), the decision may be delayed up to 120 days following receipt of
      the request for review. If such an extension is required, the Participant
      will be advised in writing before the extension begins.

      The Committee will provide written notice of its final determination. The
      notice will include specific reasons for the decision, be written in a
      manner calculated to be understood by the Participant and make specific
      reference to the Plan provisions on which it is based.

                                     Page 9
<PAGE>
      An appeal will not be considered if it is not filed within the applicable
period of time. If a decision on an appeal is not provided within any applicable
time frame described above, the claim shall be deemed denied on appeal.

      At any stage in the appeals process, the applicant or his or her
designated representative may review pertinent documents, including copies of
the Plan document and information relating to the applicant's entitlement to
such benefit, and submit issues and comments in writing.

      8.9 Arbitration. Any dispute or claim arising out of this Plan or the
breach thereof shall be settled by arbitration in accordance with the rules of
the American Arbitration Association, to be conducted in Houston, Texas before
an arbitrator selected in accordance with such rules. Judgment upon the award
rendered by the Arbitrator may be entered in any court having jurisdiction
thereof.

      IN WITNESS WHEREOF, Oceaneering International, Inc. has caused this Plan
to be executed by its duly authorized officer, effective as provided herein.

                                    OCEANEERING INTERNATIONAL, INC.

                                    By:   //s//  MARVIN J. MIGURA
                                    Title:      Sr. Vice President
                                    Date: December 29, 1999

ATTEST:

By:    //s//  GEORGE R. HAUBENREICH, JR.
Title: Secretary

                                    Page 10

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