Document:

EXHIBIT 10.30

                              SENIOR VICE PRESIDENT
                              EMPLOYMENT AGREEMENT

         THE EMPLOYMENT AGREEMENT made and entered into as of the first day of
January 2000, among Bally Total Fitness Holding Corporation, a Delaware
corporation ("BTFHC") and Paul Toback ("Employee").

         NOW, THEREFORE, in consideration of the premises and of the covenants
and agreements herein contained, the parties agree as follows:

         1. EMPLOYMENT.

         (a) BTFHC hereby employs Employee in the capacity of Senior Vice
President. BTFHC may employ Employee in such other capacities of equal status
and responsibility as the Chief Executive Officer of BTFHC, or his designated
representative, shall reasonably determine, and Employee hereby accepts such
employment upon the terms and conditions herein set forth.

         (b) During the term of his employment, Employee will devote his best
efforts to his employment and perform such duties consistent with his status as
a Senior Vice President and in such capacities as the Chief Executive Officer of
BTFHC shall reasonably assign to him. Employee will devote his entire working
time and attention to the business and related interests of, and will be loyal
to, BTFHC, and Employee agrees to render service on behalf of BTFHC and its
subsidiaries or affiliates.

         (c) Employee shall not, without prior written consent of BTFHC,
directly or indirectly, during the term of this Employment Agreement:

                  (i) Other than in the performance of duties naturally inherent
         to BTFHC's business and in furtherance thereof, render services of a
         business, professional or commercial nature to any other person or
         firm, whether for compensation or otherwise, but this shall not be
         construed as preventing the Employee from investing his assets in such
         form or manner as will not require any services on the part of the
         Employee in the operation of the affairs of the companies in which such
         investments are made and which are not in violation of subparagraph
         (ii) below or from engaging in boards of directors (subject to the
         approval of BTFHC's Chief Executive Officer) or charitable activities
         so long as such activities do not interfere with the performance of
         Employee's duties hereunder;

                  (ii) Engage in any activity competitive with or adverse to
         BTFHC's business or welfare, whether alone, as a partner, or as an
         officer, director, employee or shareholder of any other corporation, or
         otherwise, directly or indirectly, except that the ownership of not
         more than one percent (1%) of the stock of any publicly traded
         corporation shall not be deemed violative of this subparagraph (ii);

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                  (iii) Be engaged by any entity which conducts business with or
         acts as consultant or advisor to BTFHC, whether alone, as a partner, or
         as an officer, director, employee or shareholder, or otherwise,
         directly or indirectly, except that ownership of not more than one
         percent (1%) of the stock of any publicly traded corporation shall not
         be deemed violative of this subparagraph (iii).

         2. TERM. The term of this Employment Agreement shall begin on the
effective date stated above ("commencement date") and shall continue for three
(3) years through December 31, 2002, unless terminated by either party pursuant
to paragraphs 7 or 8.

         3. COMPENSATION.

         (a) In consideration of the services to be rendered by the Employee
hereunder, BTFHC agrees to pay to the Employee, and the Employee agrees to
accept, as compensation, the sum of Two Hundred Sixty Thousand Dollars and
No/100 Cents Dollars ($260,000.00) (the "Base Salary") for each twelve month
period following the effective date of this Employment Agreement, which shall be
paid on the regularly recurring pay periods established by BTFHC. The Base
Salary shall be subject to periodic review for consideration of increase by
BTFHC.

         (b) It is further understood by the parties that, pursuant to the
policies of BTFHC, discretionary bonus payments may be made in addition to the
Base Salary above provided.

         4. VACATION AND OTHER BENEFITS. Employee shall be entitled to a
reasonable vacation each year of his employment with BTFHC as well as other
employment benefits, including hospitalization, life insurance, death and
retirement plans, an automobile allowance or the use of an automobile, and the
like, afforded to senior executives of BTFHC of comparable status and tenure and
consistent with that afforded under BTFHC's policies.

         5. EXPENSES. BTFHC shall pay all reasonable expenses incurred by
Employee in the performance of his responsibilities and duties for BTFHC.
Employee shall submit to BTFHC periodic statements of all expenses so incurred.
Subject to such audits BTFHC may deem necessary, BTFHC shall reimburse Employee
the full amount of any such expenses advanced by Employee promptly in the
ordinary course.

         6. COVENANTS AND CONFIDENTIAL INFORMATION.

         (a) Employee agrees that for the applicable period specified below, he
will not, directly or indirectly, do any of the following:

                  (i) Be engaged as a partner, officer, director, employee,
         shareholder or consultant by any entity which is engaged in the
         operation of health or fitness clubs within five (5) miles of any
         facility which (on the date Employee ceases to be employed hereunder)
         is owned, managed or under development to be owned or managed by BTFHC,
         its subsidiaries, affiliates and/or its successors and assigns, or is
         owned by a franchisee of BTFHC, its subsidiaries, affiliates and/or its
         successor and assigns ("Facility"); provided, however, that

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         the ownership of not more than one percent (1%) of the stock in a
         publicly-traded corporation shall not be deemed violative of this
         subparagraph 6(a)(i);

                  (ii) Induce any person who is an employee, officer, or agent
         of BTFHC, to terminate said relationship or employ, assist in employing
         or otherwise associate in business with any present, former or future
         employee or officer of BTFHC;

                  (iii) Disclose, divulge, discuss, copy or otherwise use or
         suffer to be used in any manner, in competition with, or contrary to
         the interests of BTFHC, the customer lists, inventions, ideas,
         discoveries, manufacturing methods, product research or engineering
         data or other trade secrets of BTFHC, it being acknowledged by Employee
         that all such information regarding the business of BTFHC compiled or
         obtained by, or furnished to, Employee while he shall have been
         employed by or associated with BTFHC is confidential information and
         the exclusive property of BTFHC.

         (b) The provisions of subparagraphs 6(a)(i), 6(a)(ii) and 6(a)(iii)
shall be operative during the Term hereof and as hereafter provided in this
subparagraph 6(b).

                  (i) In the event of a "Change in Control" (as defined in
         subparagraph 9(c)), the provisions of subparagraphs 6(a)(i) and
         6(a)(ii) shall be operative only so long as the Employee remains an
         employee of BTFHC.

                  (ii) In all events, including a Change in Control or in the
         event Employee is terminated for illness or incapacity (as provided in
         subparagraph 7(a)) or for "Cause" (as defined in subparagraph 8(a)),
         the provisions of subparagraph 6(a)(iii) shall be operative until such
         time as the information becomes public knowledge other than through the
         act of Employee.

                  (iii) In the event Employee is terminated for Cause or for
         illness or incapacity (as provided in subparagraph 7(a)), the
         provisions of subparagraphs 6(a)(i) and 6(a)(ii) shall be operative
         during the Term of this Agreement and for one (1) additional year.

         (c) Employee expressly agrees and understands that the remedy at law
for any breach by him of this paragraph 6 will be inadequate and that the
damages flowing from such breach are not readily susceptible to being measured
in monetary terms. Accordingly, it is acknowledged that BTFHC shall be entitled
to immediate injunctive relief and if the court so permits, may obtain a
temporary order restraining any threatened or further breach. Nothing contained
in this paragraph 6 shall be deemed to limit BTFHC's remedies at law or in
equity for any breach by Employee of the provisions of this paragraph 6 which
may be pursued or availed of by BTFHC. Any covenant on Employee's part contained
hereinabove, which may not be specifically enforceable, shall nevertheless, if
breached, give rise to a cause of action for monetary damages.

         (d) Employee has carefully considered the nature and extent of the
restrictions upon him and the rights and remedies conferred upon BTFHC under
this paragraph 6, and hereby acknowledges and agrees that the same are
reasonable in time and territory, are designed to eliminate

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competition which otherwise would be unfair to BTFHC, do not stifle the inherent
skill and experience of Employee, would not operate as a bar to Employee's sole
means of support, are fully required to protect the legitimate interests of
BTFHC and do not confer a benefit upon BTFHC disproportionate to the detriment
to Employee.

         (e) For the purposes of this paragraph 6, the term "BTFHC" shall be
deemed to include BTFHC and its subsidiaries and affiliates and the successors
and assigns of it and its subsidiaries and affiliates, involved in the operation
or management of a fitness center.

         (f) The covenants contained in this paragraph 6 shall be construed to
extend to separate counties and adjacent counties, if applicable, of the states
of the United States in which BTFHC and its subsidiaries, affiliates and its and
their successors and assigns has a fitness center, and to the extent that any
such covenant shall be illegal and/or unenforceable with respect to any one of
said counties, said covenants shall not be affected thereby with respect to each
other county, such covenants with respect to each county being construed as
severable and independent.

         7. ILLNESS, INCAPACITY OR DEATH DURING EMPLOYMENT.

         (a) If the Employee is unable to perform his services by reason of
illness or incapacity resulting in a failure to discharge his duties under this
Employment Agreement for six (6) or more consecutive months or for 180 days in
any 365-day period, then upon three (3) days notice, BTFHC may terminate the
employment of Employee under this Employment Agreement and Employee, upon such
termination, shall be (i) paid his Base Salary on a pro-rata basis to the date
of termination through the three (3) day notice period; plus (ii) any previously
declared but unpaid bonuses; plus (iii) reimbursement of all expenses reasonably
incurred by Employee in performing his responsibilities and duties for BTFHC
through and including such three (3) day notice period; plus (iv) any other
payment or benefit which Employee is then entitled to receive under any
employment benefit plan, retirement plan or similar arrangement then maintained
by BTFHC, in the amount and to the extent determined under the terms and
conditions of any such plan.

         In the event of such termination, the Employee shall have the right, at
his option, to the assignment of any and all insurance policies or health
protection plans if said policies and plans permit assignment out of the group
to the Employee.

         (b) In the event that BTFHC elects to terminate this Employment
Agreement pursuant to Section 7(a) by reason of illness or incapacity, then
Employee shall be entitled to the long-term disability (LTD) benefits provided
to senior officers by BTFHC but in any event at no less than sixty percent (60%)
of Base Salary as of the date of termination, without reference to set-off or
caps existing in any LTD plan.

         (c) In the event of Employee's death, all obligations of BTFHC under
this Employment Agreement shall terminate other than the payment of that portion
of his Base Salary on a pro-rata basis accrued to the date of death, any
previously declared but unpaid bonuses, plus reimbursement of all expenses
reasonably incurred by Employee in performing his responsibilities and duties
for BTFHC prior to and including such date.

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         8. TERMINATION.

         (a) The employment of Employee under this Employment Agreement, and the
term hereof, may be terminated by BTFHC for cause at any time. For purposes
hereof, the term "cause" means:

                  (i) Employee's fraud or dishonesty;

                  (ii) Employee's willful misconduct or gross negligence in the
         performance of his duties hereunder, including willful failure to
         perform such duties as may properly be assigned him hereunder; or

                  (iii) Employee's material breach of any material provision of
         this Employment Agreement.

         (b) Any termination shall not be in limitation of any other right or
remedy BTFHC or Employee may have under this Employment Agreement or otherwise.

         9. OPTIONAL TERMINATION UPON CHANGE OF CONTROL.

         (a) In the event that there is a "Change in Control" (as defined in
this paragraph 9) of BTFHC and the successor in control, without cause,
terminates this Employment Agreement, Employee shall be paid, subject to the
limits set forth in paragraph 10 a lump sum equal to twenty-four (24) months of
his then Base Salary or an amount equal to his then Base Salary for the balance
of the three year term, whichever is greater. The Employee shall also be paid an
amount equal to the greatest bonus awarded for an individual calendar year after
1997 (regardless of when paid) but prior to the Change of Control. If the
successor in control changes Employee's title or substantially changes his
duties or functions from those which he previously performed hereunder or
requires Employee to perform the majority of his duties at a location outside of
the metropolitan area of Chicago, Illinois, the successor in control shall be
deemed to have constructively terminated Employee's services without cause and
Employee shall be entitled to payments set forth in this paragraph.

         In the event that there is a Change in Control (as defined in this
paragraph 9) of BTFHC, Employee may, at his option, terminate this Employment
Agreement at any time thereafter upon thirty (30) days written notice to BTFHC.
If Employee exercises this right to terminate, he shall be paid the following
amounts: (i) a lump sum amount equal to one-half (1/2) of his annual Base Salary
as in effect at the time of exercise (or, if greater, at the time of the Change
in Control); plus, (ii) his Base Salary on a pro-rata basis through and
including the date of his employment termination; plus (iii) any previously
declared but unpaid bonuses; plus (iv) reimbursement of all expenses reasonably
incurred by Employee in performing his responsibilities and duties for BTFHC
through and including the date of his employment termination; plus (v) any other
payment or benefit which Employee is then entitled to receive under any
employment benefit plan, retirement plan or similar arrangement then maintained
by BTFHC, in the amount and to the extent determined under the terms

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and conditions of any such plan. All such payments shall be made no later than
thirty (30) days after the last day of Employee's employment. In addition,
Employee shall have the right, at his election, to the assignment of any and all
insurance policies and/or health protection plans if said policies and plans
permit assignment to Employee.

         A "Change in Control" shall, except as provided below, mean a change in
control of BTFHC of a nature that would be required to be reported in response
to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities
Exchange Act of 1934 (as in effect on the effective date of this Employment
Agreement, the "Exchange Act"), whether or not BTFHC is then subject to such
reporting requirement; provided that, without limitation, such a Change in
Control shall be deemed to have occurred if:

                  (i) any "person" (as defined in subsections 13(d) and 14(d) of
         the Exchange Act), other than a person with which Arthur M. Goldberg or
         Lee S. Hillman is affiliated or of which he is a part, is or becomes
         the "beneficial owner" (as defined in Rule 13d-3 under the Exchange
         Act), of securities of BTFHC representing twenty percent (20%) or more
         of the combined voting power of BTFHC's then outstanding securities;

                  (ii) during any period of two (2) consecutive years or less
         (not including any period prior to the effective date of this
         Employment Agreement) there shall cease to be a majority of the Board
         of Directors of BTFHC comprised of Continuing Directors (as defined
         below); or

                  (iii) the stockholders of BTFHC approve (1) a merger or
         consolidation of BTFHC with any other corporation, other than a merger
         or consolidation that would result in the voting securities of BTFHC
         outstanding immediately prior thereto continuing to represent (either
         by remaining outstanding or by being converted into voting securities
         of the surviving entity) at least 80% of the combined voting power of
         the voting securities of BTFHC or such surviving entity outstanding
         immediately after such merger or consolidation, or (2) a plan of
         complete liquidation of BTFHC or an agreement for the sale or
         disposition by BTFHC of all or substantially all of its assets.

         Notwithstanding anything else contained herein to the contrary, the
acquisition of BTFHC securities from BTFHC which issuance was approved by the
Continuing Directors (as defined below) shall not, either on its own or in
connection with any other acquisition of BTFHC securities prior thereto, be
deemed to be a Change in Control for purposes of this Agreement.

         The term "Continuing Directors" shall mean individuals who constitute
the Board of Directors of BTFHC as of the effective date of this Employment
Agreement and any new director(s) whose election by such Board or nomination for
election by BTFHC's stockholders was approved by a vote of at least two-thirds
of the directors then in office who either were directors as of the effective
date of this Employment Agreement or whose election or nomination for election
was previously so approved.

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         10. LIMIT ON PAYMENTS. Notwithstanding anything in this Agreement to
the contrary, in the event of a Change in Control, the total compensation (other
than compensation relating to the vesting of restricted stock due to a change in
control) to Employee under this Agreement and any other agreements between the
Employee and Company or its subsidiaries relating to a Change in Control shall
not exceed an amount equal to (i) an amount equal to 2.99 times the Employee's
"annualized includible compensation for the base period" (as defined in Section
280G of the Internal Revenue Code of 1986, as amended (the "Code"), over (ii)
the present value of any and all "payments in the nature of compensation"
(within the meaning of Section 280G of the Code and any proposed, temporary or
final Treasury Regulations promulgated thereunder) to the Employee under this
Agreement or any other agreement or arrangement between the Company and the
Employee treated as "parachute payment(s)" under Section 280G of the Code and
any proposed, temporary or final Treasury Regulations promulgated thereunder,
such that no "payment in the nature of compensation" to the Employee pursuant to
this Agreement or any other agreement between the Employee and the Company or
its subsidiaries will constitute an "excess parachute payment" within the
meaning of Section 280G of the Code. Notwithstanding the foregoing, if as a
result of the vesting of any restricted stock due to a Change of Control, it is
determined that any payment, distribution, acceleration or benefit received or
to be received by Employee from BTFHC pursuant to this Agreement or any option
plan or other plan maintained by BTFHC or its affiliates ("Payments") would be
subject to the excise tax imposed by Section 4999 of the Internal Revenue Code
of 1986, as amended ("Code") (such tax referred to as the "Excise Tax"), then
Employee shall be entitled to receive an additional payment from BTFHC ("Excise
Tax Payment") in the amount of the Excise Tax. All determinations under this
paragraph 10 shall be made by the Company based on the advice or counsel of its
tax professional and shall be binding and conclusive on the Company and the
Employee.

In the event that the IRS, on audit, asserts that the Excise Tax Payment was not
sufficient to cover Employee's liability for the excise tax imposed by Section
4999 of the Code, BTFHC shall make a payment to Employee equal to the additional
tax determined to be due pursuant to Section 4999 of the Code and any penalties
or interest assessed against Employee as a result of the insufficiency of the
Excise Tax Payment.

         11. SEVERABLE. PROVISIONS. The provisions of this Employment Agreement
are severable, and if any one or more provisions may be determined to be illegal
or otherwise unenforceable, in whole or in part, the remaining provisions, and
any partially unenforceable provision to the extent enforceable in any
jurisdiction, shall nevertheless be binding and enforceable.

         12. BINDING AGREEMENT. The rights and obligations of BTFHC under this
Employment Agreement shall inure to the benefit of and shall be binding upon the
respective successors and assigns of BTFHC.

         13. ATTORNEYS' FEES. In the event Employee is required to commence an
arbitration action to enforce the provisions of this Employment Agreement and
Employee prevails in such action, BTFHC shall pay Employee's reasonable costs
and expenses, including reasonable attorneys'

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fees, incurred in such arbitration and in any subsequent legal action brought to
enforce the arbitration decision.

         14. NOTICES. Any notice to be given to BTFHC under the terms of this
Employment Agreement shall be addressed to BTFHC at the address of its principal
places of business, and any notice to be given to Employee shall be addressed to
him at his home address last shown on the records of BTFHC, or at such other
address as the parties may hereafter designate in writing to the other. Any such
notice shall have been duly given when enclosed in a properly sealed envelope
addressed as aforesaid, postage prepaid, registered or certified, return receipt
requested, and deposited in a post office or branch post office regularly
maintained by the United States Government.

         15. WAIVER. Either party's failure to enforce any provision or
provisions of this Employment Agreement shall not in any way be construed as a
waiver of any such provision or provisions as to any future violations thereof,
nor prevent that party thereafter from enforcing each and every other provision
of this Employment Agreement. The rights granted the parties herein are
cumulative and the waiver by a party of any single remedy shall not constitute a
waiver of such party's right to assert all other legal remedies available to him
or it under the circumstances.

         16. GOVERNING LAW. This Employment Agreement shall be governed by and
construed and interpreted according to the internal laws of the State of
Illinois without reference to principles of conflict of laws.

         17. MISCELLANEOUS. Captions and headings used herein are for
convenience only and are not a part of this Employment Agreement and shall not
be used in construing it. This Employment Agreement constitutes the entire
agreement between BTFHC and Employee with respect to the subject matter hereof
and may not be modified or terminated orally. No modification, termination or
attempted waiver of this Employment Agreement shall be valid unless in writing
and signed by the party against whom the same is sought to be enforced.

         18. ARBITRATION. Any controversy or claim arising out of or relating to
this Agreement, or the breach thereof, shall be settled by arbitration in
accordance with the Rules of the American Arbitration Association then
pertaining in Chicago, Illinois and judgment upon the award rendered by the
arbitrator or arbitrators may be entered in any court having jurisdiction
thereof. The arbitrator or arbitrators shall be deemed to possess the powers to
issue mandatory orders and restraining orders in connection with such
arbitration; provided, however, that nothing in this paragraph 18 shall be
construed so as to deny BTFHC's right and power to seek and obtain injunctive
relief in a court of equity for any breach or threatened breach of Employee of
any of his covenants contained in subparagraph 6(a) hereof.

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         IN WITNESS WHEREOF, the parties hereto have caused this Employment
Agreement to be duly elected as of the day and year first above written.

                                BALLY TOTAL FITNESS HOLDING
                                CORPORATION

ATTEST:
       ----------------         ----------------------------------------------
                                Harold Morgan                          "BTFHC"

                                ----------------------------------------------
                                Paul Toback                         "Employee"

Approved by the Compensation Committee of Bally Total Fitness Holding
Corporation on ____________________, 2000.

                                ----------------------------------------------
                                Liza Walsh
                                Chairman, Compensation Committee - Bally Total
                                Fitness Holding CorporationExhibit 10.13

         Lease between Lefrak SBN LP and Westwood One, Inc. (5th floor) and
sublease between Infinity and Westwood One, Inc. (15th floor)

Tenant  hereby  acknowledges  and agrees that Owner shall have no  obligation to
furnish  Tenant  and/or  the  demised  premises  with  any  cleaning   services.
Accordingly,  Tenant shall promptly, after execution and delivery of this Lease,
arrange  directly with and pay directly to the Owner's  cleaning  contractor for
the Building, for the provisions of all cleaning services required by Tenant for
the demised premises (including,  all lavatories and common areas located on and
within such floor),  and shall hold Owner  harmless from and against  payment of
all  cleaning  costs and expenses for the demised  premises.  All such  cleaning
services shall be provided  and/or  performed in compliance  with the applicable
provisions  of (1)  all  rules,  regulations  and  statutes  promulgated  by any
governmental  or  quasi-governmental  authority  having  jurisdiction  over  the
Building, (2) all rules and regulations of Owner and the company furnishing such
cleaning service, and (3) this Lease, including, without limitation, Articles 3,
4 and 38 hereof.

Tenant  further  agrees that  Tenant  shall  obtain,  and keep in full force and
effect  during the term of this Lease,  a service  contract  with such  cleaning
contractor  to provide  such  cleaning  services  to the demised  premises  (the
"Cleaning  Contract").  Tenant  shall  deliver  to Owner a copy of the  Cleaning
Contract (and all renewals,  modifications,  amendments or supplements  thereto)
within  ten  (10)  days of the  Commencement  Date  and/or  the date of any such
renewal,  modification,  amendment  or  supplement  to such  Cleaning  Contract,
respectively, as the case may be. If Tenant shall fail to obtain or maintain the
Cleaning  Contract required  hereunder,  Owner may obtain and maintain the same,
and the  cost  thereof  shall be  collectible  by Owner  and paid by  Tenant  as
additional  rent,  within five (5) days after  submission  by Owner to Tenant of
Owner's statement or invoice therefor.

Tenant  also  agrees,  at  Tenant's  sole  cost and  expense  and as part of its
Cleaning  Contract (a) keep all portions of the demised  premises in good order,
(b) cause Tenant's  refuse and rubbish to be kept completely out of view (except
when the same is being taken to the location of  collection)  and removed  daily
from the demised  premises and the Building in accordance  with  schedule,  from
time to time of the Owner's cleaning  contractor,  and (c) cause any portions of
the demised  premises used for storage,  preparation,  service on consumption of
food or beverages to be exterminated  against infestation by vermin,  roaches or
rodents on a regular basis.

                                      -4a-
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          TEXT OF NUMBERED INSERTS TO PRINTED PORTION OF LEASE BETWEEN
                  LEFRAK SBN LIMITED PARTNERSHIP, AS OWNER AND
                          WESTWOOD ONE, INC., AS TENANT
                               DATED AS OF , 1999

         1-     attached or built into

         2-     permanent

         3-     except as otherwise provided in Article 45

         4-     (a) Tenant's use or manner of use of the demised  premises other
                than for general office  purposes,  (b) any condition  which has
                been created by, or at the instance of Tenant (c) any  condition
                resulting from a breach of Tenant's obligations hereunder or (d)
                any condition  occasioned in whole or part by the  negligence or
                Tenant or any of its employees, agents, contractors, invitees or
                licensees.

         5-     Owner hereby represents that as of the date hereof, the premises
                complies  with  all  laws,   rules,   orders,   regulations  and
                requirements  concerning  the use of the  premises  for  general
                office  purposes.  At all times  during  the term of the  Lease,
                Owner shall comply with all laws, rules, orders, regulations and
                requirements  with which Tenant is not  obligated to comply,  as
                set  forth  above,  but  Owner  may  contest,  appeal  and defer
                compliance with the same.

         6-     for a period in excess of six (6) months

         7-     In the event that Owner shall not have elected to terminate this
                Lease as provided in the foregoing provisions of this Article 9,
                then Owner agrees to promptly commence "substantially complete"
                (as such term is hereinafter defined in this Insert 7) the
                restoration and repair work at the demised premises within nine
                (9) months from the date on which Owner shall obtain the
                insurance proceeds for the damage caused by such fire and/or
                other casualty and a permit from the New York City Department of
                Buildings or any other applicable legal governmental authority
                for the commencement and performance of such restoration and
                repair work (written notice of which date Owner herby agrees to
                promptly furnish to Tenant), and which date of "substantial
                completion" shall be subject to extension for an additional
                period of time which, in no event shall exceed three (3) months,
                for circumstances as set forth in Article 27 and 45 of this
                Lease.  If Owner fails to "substantially complete the repair or
                restoration", or cause the "substantial completion of the repair
                or restoration" (as such terms are hereinafter defined in this
                Insert 7) of the demised premises to occur within the time
                period set forth above, then Tenant shall have the right, within
                thirty (30) days after the expiration of such time period, to
                terminate this Lease (TIME BEING DEEMED OF THE ESSENCE) by a
                written notice given to Owner, such termination to be effective
                as of a date specified in such notice, which termination date
                shall be no earlier than thirty (30) days nor later then forty-
                five (45) days from the date of such termination notice, and
                unless Owner shall have "substantially completed" or caused the
                "substantial completion of the repair and/or restoration" of the
                premises and/or the Building, if required, by the termination
                date specified in such Tenant's notice, the term of this shall
                terminate on such termination date as if such termination date
                were the "Expiration Date" of this Lease (as such term is
                hereinafter defined). If Tenant does not terminate this Lease as
                in this Article 9 provided, Tenant shall have no further right

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                to  terminate  this Lease  pursuant to this Article 9, and Owner
                shall thereafter complete (to the extent as previously provided)
                such repair and restoration of the Building, if required, and/or
                the premises with due diligence. For purposes of this Article 9,
                the term "substantially complete" or "substantially complete the
                repair  and/or  restoration"  or words to such effect shall mean
                repairs  or  restoration  to  the  premises  and  areas  of  the
                Building,  if required,  and to Building  services which existed
                prior to the  occurrence of such fire or other  casualty,  which
                are  sufficiently  complete  so that Tenant can  recommence  the
                carrying  on the  operation  of  its  business  in  the  demised
                premises  without  material  interference.  In  the  event  of a
                termination of this Lease pursuant to this Article 9, whether by
                Owner or by Tenant, this Lease shall terminate on the applicable
                termination  date in question  with the same force and effect as
                if said date were  originally  provided herein as the Expiration
                Date of the term of this Lease.

         8-     Tenant  shall  have the  right to make a claim  for the value of
                Tenant's  Property (as hereinafter  defined) and for the expense
                of  relocating  Tenant's  business  conducted  at the  premises,
                provided  that such  claims do not reduce,  adversely  affect or
                impair the amount of the award payable to Owner.

         9-     provided  that  Owner  uses   reasonable   efforts  to  minimize
                interference  with  the  conduct  of  Tenant's  business  at the
                demised premises.

         10-    provided  that (i) Owner uses  reasonable  efforts  to  minimize
                interference  with  the  conduct  of  Tenant's  business  at the
                demised premises and (ii) Owner will not materially diminish the
                usable space in the demised premises,

         11-    provided that such changes do not materially or adversely affect
                Tenant's access to, or use of the demised premises.

         12-    provided  that Owner uses  reasonable  efforts to  minimize  any
                disturbance to Tenant's business.

         13-    or by nationally recognized overnight courier service

         14-    or by nationally recognized overnight courier service

         15-    is in full force and effect

         16-    Owner  shall   insure  that   Tenant's   employees   shall  have
                twenty-four  (24) hour access to the  premises,  but after hours
                elevator  service  shall be limited  as set forth  above in this
                Article  29 and  access to the lobby may be by means  reasonably
                satisfactory  to  Landlord  and  Tenant.  Tenant  shall  not  be
                required  to pay  for  the use of the  freight  elevator  during
                construction or Tenant's initial move-in at the beginning of the
                Term or for other uses thereof during business hours.

         17-    Owner  agrees  not  to   discriminate   against  Tenant  in  its
                enforcement or failure to enforce the Rules and Regulations.

                                       -2-

<PAGE>

  072799

                       R I D E R  T O  O F F I C E  L E A S E

                                TABLE OF CONTENTS

          ARTICLE                                                           PAGE

           36.   Fixed Rent, Additional Rent................................. 1
           37.   Term........................................................ 2
           38.   Alterations................................................. 2
           39.   Attornment; Modifications; Subordination, Attornment and
                Non-Disturbance Agreement.................................... 4
           40.   Indemnity................................................... 7
           4l.   Insurance................................................... 7
           42.   Assignment, Subletting, Mortgage, Etc....................... 10
           43.   Electricity................................................. 16
           44.   End of Term................................................. 18
           45.   Inability to Perform........................................ 19
           46.   Air Conditioning............................................ 19
           47.   Additional Charges.......................................... 20
           48.   Broker...................................................... 23
           49.   Consents.................................................... 23
           50.   Partnership Tenant.......................................... 24
           5l.   Parties Bound............................................... 24
           52.   Tenant's and Owner's Certificate............................ 24
           53.   Exculpation and Non-Liability............................... 25
           54.   Arbitration................................................. 25
           55.   Miscellaneous............................................... 27
           56.   Building's Electronic Directory............................. 27
           57.   Changes In Building Facilities, Name........................ 28
           58.   Local Law 5 Compliance...................................... 28
           59.   Restrictions on Use......................................... 28
           60.   Condition of the Demised Premises........................... 29

          Exhibit  A  - Floor Plan for the Premises

          Exhibit  B  - Fixed Rent Schedule

          Exhibit  C  - Existing Mortgagee's Form of Subordination,
                         Attornment and Non-Disturbance Agreement

          Exhibit  D  - Existing Mortgagee's Form of Tenant Estoppel Certificate

<PAGE>

                 RIDER TO THE LEASE DATED , 1999, BY AND BETWEEN
                  LEFRAK SBN LIMITED PARTNERSHIP, AS OWNER AND
                          WESTWOOD ONE INC., AS TENANT.
                            IN THE EVENT OF ANY  CONFLICT  BETWEEN  THE  PRINTED
                          PORTION OF THE LEASE AND THE PROVISIONS OF THIS RIDER,
                          THE  PROVISIONS  OF  THIS  RIDER  SHALL  CONTROL.  THE
                          PRINTED  PORTION  OF THE LEASE AND THIS RIDER TO LEASE
                          ARE COLLECTIVELY CALLED THE "LEASE".

     36. FIXED RENT;  ADDITIONAL RENT. A. All sums other than Fixed Rent due and
payable by Tenant to Owner  under this  Lease are  called  "additional  rent" or
"Additional Rent". Fixed Rent and Additional Rent are collectively called "rent"
or "Rent".

             B. The failure of Tenant to make any payment of additional  rent in
this Lease shall entitle Owner to all rights and remedies provided hereunder for
the  non-payment of Fixed Rent, and the acceptance of all or any portion of such
additional  rent or Fixed  Rent  shall not be  deemed a waiver of the  rights of
Owner with respect to any additional rent or Fixed Rent payable  pursuant to the
terms of this Lease.

             C. All  payments  of Fixed  Rent and  Additional  Rent,  including,
without limitation, Tenant's payment of its initial monthly installment of Fixed
Rent, shall be made to Owner promptly without notice or demand,  in lawful money
of the  United  States of  America,  by good and  sufficient  check  subject  to
collection  and drawn on a New York City bank or trust company which is a member
of the New York  Clearinghouse  Association,  at the  office of Owner or at such
other place as Owner may, at any time and from time to time, by notice to Tenant
designate, at the times and in the manner as set forth in this Lease.

             D. There shall be no abatement of,  deduction from or  counterclaim
or  set-off  against,  Fixed  Rent  or  Additional  Rent,  except  as  otherwise
specifically provided by this Lease.

             E. No payment by Tenant or receipt of  acceptance  by Landlord of a
lesser amount than the correct amount of Fixed Rent or Additional  Rent shall be
deemed to be other  than a payment  on  account,  nor shall any  endorsement  or
statement on any check or any letter accompanying any check or payment be deemed
an accord and  satisfaction,  and  Landlord  may,  accept  such check or payment
without prejudice to Landlord's right to recover the balance or pursue any other
remedy in this Lease or at law provided.

             F. If at the  commencement  of, or at any time or times  during the
term of this Lease, the Fixed Rent, additional rent or any other charge reserved
in this Lease shall not be fully collectible by reason of any legal requirement,
Tenant  shall  enter into such  agreements  and take such other  steps  (without
additional  expense  to  Tenant)  as Owner  may  request  and as may be  legally
permissible  to permit Owner to collect the maximum rents which may from time to
time  during  the  continuance  of  such  legal  rent   restriction  be  legally
permissible  (and not in excess of the  amounts  reserved  therefor  under  this
Lease).  Upon  the  termination  of such  legal  rent  restriction  prior to the
expiration of the term hereof, (1) the Fixed Rent, additional rent and all other
charges shall become and thereafter be payable  hereunder in accordance with the
amounts reserved in this Lease for the periods following such  termination,  and
(2) Tenant shall pay to Owner, if legally  permissible,  and amount equal to (a)
the Fixed Rent, additional rent and any other charges which would have been paid
pursuant to this Lease but for such legal rent  restriction,  less (b) the rents
paid by Tenant to Owner during the period or periods such legal rent restriction
was in effect.

             G. Any payment of Fixed Rent or additional  rent due from Tenant to
Owner not paid within ten (10) days of the due date specified  herein shall bear
interest from such due date to the date of actual  payment at the rate of twelve
(12%) per annum or the highest lawful rate of interest  permitted by the laws of
the State in which the premises are located, whichever rate of interest is lower
(the "Interest Rate").  Notwithstanding the interest charge,  non-payment of any
Fixed Rent,  additional rent or other charges due hereunder  shall  constitute a
default of this Lease.

                                       -1-

<PAGE>

     37. TERM. A. The term of this Lease (the "term of this Lease", or the "Term
of this Lease",  or the "Term") shall (a) commence on a date (the  "Commencement
Date")  which is one (1)  business day after the  occurrence  of the  "Effective
Date" (as such term is hereinafter  defined in Section 39 E of this Lease),  and
(b) end at noon of December  31,  2009,  or on such earlier date upon which said
term may expire or be  cancelled  or  terminated  pursuant  to any of the terms,
conditions  or  covenants  of this  Lease or  pursuant  to law (the  "Expiration
Date").

                B. For  purposes of this Lease,  including  this Article 37, the
term  "Rent  Commence-ment  Date"  shall be deemed to be, and shall be deemed to
occur on the "Commencement Date."

                C. If the  Commencement  Date  and the  Rent  Commencement  Date
occurs on a day other than the first day of a calendar month, the Fixed Rent for
such  calendar  month  shall be pro rated and any  balance of the first  month's
Fixed  Rent  theretofore  paid  shall  be  credited  against  the  next  monthly
installment of Fixed Rent.

                D. After the determination of the Commencement Date and the Rent
Commencement  Date, Owner and Tenant,  upon demand of either party,  shall enter
into  a  written  agreement  setting  forth  the  Commencement  Date,  the  Rent
Commencement Date and the Expiration Date, respectively, as the case may be, but
the failure to execute  such an  agreement  shall not affect the validity of the
Commencement  Date,  the Rent  Commencement  Date and the  Expiration  Date,  as
finally determined.

         38.  ALTERATIONS.  A. (1) Owner  shall not  unreasonably  withhold  its
consent  to any  non-structural  "Alterations"  (as  such  term  is  hereinafter
defined),  provided  such  Alterations  are  performed  only by  contractors  or
mechanics  approved  by  Owner  and  (a) in  the  sole  opinion  of  Owner,  the
Alterations will not adversely  effect the proper  functioning of the Building's
mechanical,   electrical,   sanitary,   plumbing,   heating,   air-conditioning,
ventilating,  utility or any other service systems, (b) the Alterations will not
result in a violation of, or require a change in, any  certificate  of occupancy
applicable to the demised premises or the Building,  (c) the character,  outside
appearance,  usefulness or  rentability of the Building or any part thereof will
not be affected in any way, and such  Alterations  will not, in the sole opinion
of Owner,  weaken or impair (temporarily or permanently) the structure or lessen
the value or utility  of the  demised  premises  or the  Building  either in the
course of the making of such  Alterations or upon their  completion,  and (d) no
part  of the  Building  outside  of the  demised  premises  will  be  physically
affected.  Tenant  shall  perform  all  Alterations  at  Tenant's  sole cost and
expense,  with due  diligence,  and shall  complete  such  Alterations  within a
reasonable  time after  undertaking the performance of the same. All Alterations
shall be done at such times as Owner may from time to time reasonably designate.

                    (2) For the  purpose of this  Lease,  the term  "Alteration"
shall mean any alteration,  installation,  addition or improvement  which Tenant
shall make or perform to the demised premises at any time during the Lease Term,
including  all initial  alterations,  installations,  additions or  improvements
proposed to be made by Tenant to adapt the demised  premises for those  business
purposes   permitted  by  this  Lease   (collectively,   the  "Tenant's  Initial
Alterations").

                    (3) Notwithstanding the foregoing provisions of this Section
38 A, Owner hereby agrees that Tenant shall have the right,  upon giving written
notice  to  Owner,  but  without  Owner's  prior  written  consent,  to  perform
non-structural  Alteration  work in the demised  premises solely of a decorative
nature,  such as painting or carpeting,  provided the cost of such work does not
exceed (as to a particular  item of work or aggregate of like items of work) the
sum of Fifty Thousand and 00/100 ($50,000.00)  Dollars,  and provided,  further,
that such  non-structural  Alteration work is of first quality and is in keeping
with the character and dignity of the demised premises and the Building.  In the
event that Owner deems, in its sole  discretion,  that such work violates any of
the foregoing  conditions of this subsection 38 (A) (3), and is objectionable to
Owner, Owner shall advise Tenant of the objection(s)  thereto,  and Tenant shall
promptly cease such work.

                B. (1)  Prior to  making  any  Alterations,  including,  but not
limited to,  Tenant's  Initial  Alterations to prepare the demised  premises for
occupancy,  Tenant shall (a) submit to Owner detailed  plans and  specifications
(including drawings for layout, architectural,  mechanical, structural, interior
design, fixturing and finishing work) for each proposed Alteration and shall not
commence any such Alteration  without first obtaining  Owner's  approval of such
plans and  specifi-cations,  and (b) obtain worker's  compensation  and New York
State Temporary  Disability  Income  insurance in statutory limits (covering all
persons employed and to be employed by Tenant,  including  Tenant's  contractors
and subcontractors engaged in connection with any such Alteration), builder's

                                       -2-

<PAGE>

risk  insurance  covering all physical loss and other risks covered by the usual
extended  coverage  and  "all  risk"  endorsements,   and  comprehensive  public
liability  (including  property  damage  coverage),  which  builder's  risk  and
comprehensive  public liability  insurance  policies shall be in such form, with
such  companies,  for such periods and such  amounts as Owner may  require,  and
shall name,  as additional  insureds,  Owner,  its agents,  any lessee under any
ground or underlying  lease now or hereafter  affecting the Building or the plot
of land on which the Building  stands (the "Real  Property")  (any such lease is
called a  "Superior  Lease"),  and any holder of any  mortgage  which may now or
hereafter affect any Superior Lease, the Building or the Real Property (any such
mortgage is called a  "Mortgage"),  including the Existing  Mortgagee  under the
Existing Mortgage.

                    (2)  Tenant  hereby  acknowledges  and agrees  that  Owner's
review of, and Owner's granting of its approval to, any plans and specifications
submitted to it under this Lease shall not constitute or be deemed to constitute
a judgment, acknowledgment, representation or agreement by Owner that such plans
and  specifications  comply  with any laws and  requirements  of any  public  or
governmental authorities and/or the requirements of any insurance bodies, and/or
that  such  plans  and  specifications  will be  approved  by the New York  City
Department of Buildings or any other legal or governmental  authorities.  Tenant
further   acknowledges   and  agrees  that  all  such  compliance  and  approval
requirements  and the  obtaining of any approvals and permits for such plans and
specifi-cations shall be Tenant's sole obligation, as required by the provisions
of Article 3 and this  Article 38. Owner  covenants to cooperate  with Tenant in
connection with obtaining  permits or other  governmental  consents required for
Alterations permitted hereunder.

                C. All  Alterations  shall be made and  performed in  accordance
with the plans and  specifications  therefor,  as approved by Owner, and also in
accordance  with the rules and  regulations  established by Owner  governing the
manner in which work may be  performed in the Building and in effect at the time
such  Alterations  are  undertaken.  Owner agrees that it will not  discriminate
against Tenant in enforcing or failing to enforce such rules and regulations. No
amendments or additions to the aforesaid plans and specifications  shall be made
without the prior consent of Owner. All materials,  equipment and fixtures to be
incorporated in the demised  premises as a result of such  Alterations  shall be
new and first quality. No such materials, equipment or fixtures shall be subject
to any liens,  encumbrances,  chattel  mortgages or security  interests (as such
terms are  defined in the Uniform  Commercial  Code as in effect in the State of
New York on the date hereof) or any other title retention or security agreement.

                D. Tenant  shall not, at any time prior to or during the term of
this Lease,  directly or indirectly  employ,  or permit the  employment  of, any
contractor,  mechanic or laborer,  whether in connection  with any Alteration or
otherwise,  if in Owner's opinion such  employment  would  interfere,  cause any
conflict, or create any difficulty,  strike or jurisdictional dispute with other
contractors, mechanics, or laborers engaged in the construction,  maintenance or
operation of the Building by Owner,  Tenant or others.  In the event of any such
interference,  conflict,  difficulty, strike, or jurisdictional dispute, Tenant,
upon demand of Owner, shall cause all contractors, mechanics or laborers causing
the same to leave the Building immediately.

                E. Tenant hereby  indemnifies  and saves harmless Owner from and
against any liability,  loss, cost,  damage and expense of every kind and nature
incurred by reason of, or arising out of, any and all mechanic's and other liens
filed in  connection  with any  Alterations  or  repairs  undertaken  by  Tenant
hereunder, including, without limitation, the liens of any conditional sales of,
or  chattel  mortgages,  title  retention  agreements,  security  agreements  or
financing  statements  upon any  materials,  fixtures,  furniture  or  equipment
installed in and constituting a part of the demised  premises.  Tenant shall pay
promptly,  in cash, the cost of all Alterations  and repairs.  Any mechanic's or
other lien filed against the demised premises, the Building or the Real Property
for work claimed to have been performed  for, or materials  claimed to have been
furnished  to,  Tenant,  shall be  discharged  by Tenant by bonding,  payment or
otherwise,  within  thirty  (30) days after the  filing of such lien.  If Tenant
shall fail to cause any such lien to be discharged  within the aforesaid period,
then in addition to any other  available  right or remedy,  Owner may, but shall
not be obligated to,  discharge same,  either by paying the amount claimed to be
due, by deposit, bonding proceedings or otherwise, and in such event Owner shall
be  entitled,  if it  elects,  to compel  the  prosecution  of an action for the
foreclosure  of such lien and to pay the amount of the  judgment in favor of the
lienor, with interest,  costs and allowances.  Any amount so paid, and all costs
and  expenses so incurred by Owner in  connection  therewith,  shall  constitute
additional rent hereunder.

                                       -3-

                F. (1) All personal property, furniture, furnishings,  equipment
and moveable fixtures and movable  partitions  supplied by or installed by or on
behalf of Tenant,  at  Tenant's  sole cost and  expense  and without any cost or
expense by, or contribution from Owner (collectively,  the "Tenant's Property"),
and all  Alterations in and to the premises which may be made by or on behalf of
Tenant,  at Tenant's sole cost and expense,  and without any cost or expense by,
or  contribution   from  Owner  (Tenant's   Property  and  all  Alterations  are
collectively called "Tenant's Work"),  prior to and during the Lease term, shall
remain the  property  of Tenant  and Tenant  may,  upon the  Expiration  Date or
earlier termination of the Lease term, remove Tenant's Work from the premises to
the  extent  that  Tenant's  Work (or any  portion  thereof)  is not  affixed or
attached to, or built into the  premises or any of the Building  systems and can
be removed without  structural  damage to the Building;  and provided,  however,
that Tenant shall  repair any damage to the Premises and the Building  caused by
such removal, in a good and workmanlike manner.

                    (2) Any of such Tenant's Work not so removed by Tenant at or
prior to the Expiration  Date or earlier  termination of the Term,  shall become
the property of Owner and shall remain upon and be surrendered with the premises
as part thereof at the end of the Term,  provided,  however,  that if this Lease
should terminate prior to the Expiration Date by reason of default, Tenant shall
have a  period  of time not to  exceed  fifteen  (15)  days to  remove  Tenant's
Property from the premises.

                    (3)  Notwithstanding the foregoing  provisions,  upon notice
given to Tenant no later than twenty (20) days prior to the  Expiration  Date or
earlier  termination  of the term of this  Lease,  Owner may  require  Tenant to
remove all or part of Tenant's Property.  In such event, Tenant shall remove all
such Tenant's Property from the Premises prior to the Expiration Date or earlier
termination of the term of this Lease, at Tenant's  expense,  in compliance with
the provisions of Article 3 and subsection 38 F (1) hereof.

                G. The terms and  provisions  of this Article 38 shall not apply
to  Owner's  performance  of  the  Initial  Construction  Work,  the  terms  and
provisions of which performance are more particularly described in Article 60 of
this Lease.

         39. ATTORNMENT; MODIFICATIONS; SUBORDINATION,
               ATTORNMENT AND NON-DISTURBANCE AGREEMENT.

                A. This Lease shall not  terminate or be terminable by Tenant by
reason of any  termination  of any Superior  Lease,  by summary  proceedings  or
otherwise. Subject to receipt of a Non-Disturbance Agreement (as defined below),
Tenant  agrees,  without  further  instruments of attornment in case of any such
termination, to attorn to such lessor, to waive the provisions of any statute or
rule of law now or  hereafter in effect which may give or purport to give Tenant
any right of election to terminate this Lease or to surrender  possession of the
demised premises in the event such Superior Lease is terminated.

Tenant shall take no steps to terminate this Lease, whether or not such Superior
Lease  be  terminated,  without  giving  written  notice  to such  lessor  and a
reasonable opportunity to cure (without such lessor being obligated to cure) any
default on the part of Owner under this Lease.

                B. If,  in  connection  with the  procurement,  continuation  or
renewal of any  financing  for which the Real  Property  or the  Building or the
interest of the lessee therein under a Superior Lease  represents  collateral in
whole  or  in  part,   an   institutional   lender  shall   request   reasonable
modifi-cations  of this Lease as a condition of such financing,  Tenant will not
withhold its consent thereto provided that such  modifications do not materially
increase the  obligations of Tenant under this Lease or materially and adversely
affect any rights of Tenant under this Lease.

             C.   If   the    landlord   of   a   Superior    Lease,    or   its
successors-in-interest,  or the holder of a  Mortgage,  including  the  Existing
Mortgagee under the Existing Mortgage and its respective successors-in-interest,
respectively,  as the case may be,  shall  succeed to the rights of Owner  under
this Lease,  whether through  possession or foreclosure  action or delivery of a
new lease or deed, and shall have the right to enforce its  respective  remedies
under  such  Superior  Lease  or  Mortgage,  including  the  Existing  Mortgage,
respectively,  then at the  request of such party so  succeeding  to the Owner's
rights (herein called a "Successor Landlord"),  subject to Tenant's receipt of a
Non-Disturbance  Agreement (as defined  below),  and upon  Successor  Landlord's
written  agreement to accept  Tenant's  attornment,  Tenant shall  automatically
attorn to and recognize such Successor

                                       -4-

<PAGE>

Landlord as Tenant's  landlord under this Lease,  shall become the direct tenant
of such Successor Landlord and shall promptly execute and deliver any instrument
that such Successor Landlord may request to evidence such attornment.  Upon such
attornment,  this Lease shall  continue  unmodified and in full force and effect
as, or as if it were a direct lease  between the  Successor  Landlord and Tenant
upon all of the terms,  conditions  and covenants as are set forth in this Lease
and shall be applicable after such attornment except that the Successor Landlord
shall not be:

                    (1)  liable for any previous act or omission or any
warranties of Owner (or its predecessors-in-interest) under this  Lease; or

                    (2)  subject to any  credit,  claim,  counterclaim,  demand,
defense or offset  which  Tenant may have or shall have  theretofore  accrued to
Tenant against Owner (or its predecessors- in-interest); or

                    (3) bound by any previous  amendment to, or  modification of
this  Lease,  not  expressly  provided  for in this  Lease,  or by any  previous
prepayment  of more than one (1) month's  Fixed Rent,  Additional  Rent or other
sums or monies  paid to Owner  (or its  predecessors-in-interest),  unless  such
modification or prepayment(s)  shall have been expressly  approved in writing by
the lessor of the Superior Lease or its successors-  in-interest,  or the holder
of the Mortgage,  including the Existing  Mortgagee under the Existing  Mortgage
and its  respective  successors-in-interest,  respectively,  as the case may be,
through or by reason of which the Successor Landlord shall have succeeded to the
rights of Owner under this Lease; or

                    (4)  obligated to perform any alteration or improvements of
the demised premises not expressly required under this Lease; or

                    (5)  responsible for any monies owing by Owner to the credit
of Tenant,  including,  but not limited to, the return to Tenant of any security
deposit paid to Owner (or its predecessors- in-interest) under this Lease unless
actually paid to and received by such Successor Landlord; or

                    (6) bound by any  obligation  to make any payment to Tenant,
or grant or be subject to any credits, except for services, repairs, maintenance
and restoration  provided for under this Lease to be performed after the date of
attornment and which landlords of like properties  would  ordinarily be expected
to perform at such  landlord's  expense;  it being  expressly  agreed and under-
stood, however, that the Successor Landlord shall not be bound by either (a) any
obligation to make payment to Tenant with respect to construction work installed
and/or performed by or on behalf of Tenant at the demised premises including the
installation and/or performance of any Initial Construction Work at the Premises
by or on behalf of Tenant,  and/or (b) the breach of any  warranties,  promises,
undertakings and/or obligations relating to the installation and/or construction
of (i) any  betterments  or  improvements  made or  performed by or on behalf of
Owner (or its  predecessors-in-interest)  and their respective  contractor(s) to
the Real  Property,  the Building  and/or the Premises,  and/or (ii) any Initial
Construction Work or other Tenant  improvement work made or performed for Tenant
by or on behalf of Owner (or its  predecessors-in-interest) and their respective
contractor(s) in or to the Premises; or

                    (7)  required to remove any person occupying the demised
premises, or any part thereof.

                D.   Notwithstanding   the   aforedescribed   subordination  and
attornment by Tenant hereunder,  Tenant hereby  acknowledges and agrees that any
Successor Landlord,  having succeeded to Owner's rights and interests hereunder,
shall have the right to sell the Building,  the Real Property  and/or the "Total
Property"  (as such term is used and defined in Section 47A of this  Lease),  in
the manner as  provided  in such  Successor  Landlord's  Superior  Lease  and/or
Mortgage,  including the Existing  Mortgage,  respectively,  as the case may be.
Tenant further  acknowledges  and agrees that such Successor  Landlord shall, at
its option,  have the right to sell the Building,  the Real Property  and/or the
Total Property, respectively, subject to this Lease.

                E. (1) Owner has advised  Tenant and Tenant hereby  acknowledges
having  been so  advised  by Owner  that the Total  Property  is  subject to and
encumbered by a certain Mortgage, Consolidation Agreement and Security Agreement
dated  December 20, 1995 (said  Mortgage,  Consolidation  Agreement and Security
Agreement, as the same may be modified, amended, extended, renewed, consolidated
and replaced,  from time to time, together with all ancillary loan documentation
related thereto, are collectively called the "Existing Mortgage"), between Owner
and  Providian  Life and Health  Insurance  Company  and Peoples  Security  Life
Insurance  Company  (collectively,  the  "Existing  Mortgagee").  As of the date
hereof,  Owner  represents that except for the Existing  Mortgage,  there are no
Superior Leases or Mortgages affecting the property.

                                       -5-

<PAGE>

                    (2) Owner has  further  advised  Tenant  and  Tenant  hereby
acknowledges  having been so advised by Owner that the terms and  provisions  of
the Existing Mortgage require that (a) the Existing Mortgagee provide Owner with
its written  consent to the terms and provisions of this Lease to the extent the
same  materially  deviate  from  the  standard  form of lease  for the  Building
previously  approved  by the  Existing  Mortgagee,  after  this  Lease  has been
executed and delivered by Owner and Tenant,  and (b) Tenant,  concurrently  with
the  execution  and delivery of this Lease,  execute and deliver in favor of the
Existing Mortgagee (for the Existing  Mortgagee's  execution),  a Subordination,
Attornment  and  Non-Disturbance  Agreement  regarding  this  Lease  in the form
annexed to this Lease as Exhibit C and made a part hereof (the "SNDA").

                    (3) Promptly  following  the  execution and delivery of this
Lease by Owner and Tenant and the execution by Tenant of the SNDA, respectively,
as the case may be, Owner shall forward to the Existing Mortgagee a copy of this
Lease and all execution  originals of the SNDA which have been signed by Tenant,
for the Existing Mortgagee's review, and, if required,  written approval (in the
case of this Lease), and Mortgagee's countersignature (in the case of the SNDA),
respectively, as the case may be.

                    (4) The date on which (1) the  Existing  Mortgagee  provides
Owner with its written  consent to the terms and  provisions  of this Lease,  if
required as hereinabove  provided,  and (2) the SNDA has been fully executed and
delivered by Tenant and the Existing  Mortgagee,  respectively,  as the case may
be, shall be deemed to be the "Effective Date" for all purposes of this Lease.

                    (5) Owner and Tenant  hereby  acknowledge  and agree that if
the Effective Date shall not occur within thirty (30) days from the date of this
Lease,  either Owner or Tenant shall have the right and option to terminate this
Lease by giving the other written notice of such termination  within thirty (30)
days after the expiration of such thirty (30) day period, such termination to be
effective as of the date specified in such termination notice,  which date shall
not be earlier  than thirty (30) nor later than  forty-five  (45) days after the
date of such termination  notice.  Unless the Effective Date shall have occurred
by the termination date specified in such termination  notice,  this Lease shall
be deemed null and void and the Term hereof  shall  expire and  terminate  as of
such  termination  date, as if such termination date were the Expiration Date of
this Lease.

                    (6) Tenant hereby acknowledges and agrees that the inability
of Owner to obtain either the Existing Mortgagee's written consent to this Lease
and/or the Existing  Mortgagee's  countersignature and delivery to Tenant of the
SNDA, respectively, as the case may be, shall not be deemed a default on Owner's
part of its obligations  under this Lease, or impose any right or claim in favor
of Tenant  against Owner by reason  thereof,  or affect in any way or manner the
validity or enforceability of this Lease, or give Tenant any right to cancel the
same, except as expressly provided in clause five (5) above.

                    (7) Tenant hereby agrees to cooperate  with Owner's  efforts
to obtain the written consent of the Existing Mortgagee to this Lease and/or the
Existing Mortgagee's execution and delivery to Tenant of the SNDA, respectively,
as the case  may be,  including  the  furnishing  of such  financial  and  other
information as the Existing Mortgagee may request.  Owner shall request that the
Existing  Mortgagee  maintain  the   confidentiality  of  any  such  information
furnished  to it by  Tenant.  Tenant  also  agrees  to  reimburse  Owner for all
reasonable  fees,  costs  and  expenses  incurred  by Owner in  connection  with
obtaining  the  Existing  Mortgagee's  consent  to this  Lease and the  Existing
Mortgagee's execution and delivery to Tenant of the SNDA,  respectively,  as the
case may be. Such reimbursement shall be paid by Tenant to Owner within five (5)
days after  receipt of Owner's  statement  or invoice  detailing  in  reasonable
specificity such fees, costs and expenses.

                F. (1) Notwithstanding the foregoing provisions of Article 7 and
this  Article  39, the  subordination  of this Lease to any future  Mortgage  or
future Superior Lease hereafter created during the term of this Lease,  pursuant
to Article 7 hereof,  is subject to Owner's obtaining on Tenant's behalf and for
Tenant's benefit, as hereinafter  provided,  from the holders and lessors of all
future Mortgages and Superior Leases  hereafter  created during the term of this
Lease, a non-disturbance  and attornment  agreement more particularly  described
below,  which shall be in recordable  form,  and shall contain the provisions as
are hereinbelow set forth (each, a "Non-Disturbance Agreement").

                    (2) Each Non-Disturbance Agreement shall, if required by the
holder or lessor in question,  be on the form  approved by such holder or lessor
and shall contain such  modifications of this Lease as such holder or lessor may
reasonably  request,  and shall contain such holder's or lessor's agreement with
Tenant,  in  substance,  that (i) to the extent  necessary  or  required by such
Superior Lease or Mortgage,  such lessor or holder thereof,  as the case may be,
consents to this Lease,  and (ii) so long as no Event of Default shall then have
occurred hereunder and be continuing beyond the

                                       -6-

<PAGE>

expiration of any applicable  notice and grace periods  provided for the cure of
such Event of  Default,  and Owner would not at the time be  entitled,  if it so
elects,  to give notice  pursuant to this Lease of Owner's  intention to end the
term of this Lease,  (X) this Lease and the term and estate hereby granted shall
not be terminated,  and Tenant's possession of the demised premises shall not be
interfered  with, in any  foreclosure  or other action or proceeding  instituted
under or in connection  with such mortgage or Superior Lease or by reason of any
sale pursuant to any such action or proceeding,  and (Y) further, that upon said
holder or lessor succeeding to the rights and interests of Owner hereunder, as a
superior landlord,  in its capacity as Owner hereunder,  such Successor Landlord
shall  recognize  Tenant's  estate and all of  Tenant's  rights  and  privileges
hereunder,  and shall be obligated  to perform  Owner's  obligations  under this
Lease, arising after the date of such succession,  subject, however, to Tenant's
compliance  with the terms and  provisions  of Section 39 C hereof and  Tenant's
agreement to attorn to such Successor  Landlord as provided in Section 39 C, and
further  subject to the  limitations  set forth in Section 39 C above, as to the
obligations and liabilities to Tenant of any such Successor Landlord.

                    (3)  In  the  event  that  Owner  shall  fail  to  obtain  a
Non-Disturbance  Agreement in compliance with the aforesaid terms and provisions
of subsections (1) and (2) of this section 39 F, Tenant  acknowledges and agrees
that  such  failure  shall  not be  deemed  a  default  on  Owner's  part of its
obligations hereunder,  provided that Owner has used reasonably diligent efforts
to obtain any such  Non-Disturbance  Agreement,  nor permit Tenant to impose any
claims or assert any right in favor of Tenant  against Owner by reason  thereof,
nor affect or impair the  validity or  enforceability  of this  Lease,  nor give
Tenant the right to cancel the same, but Owner acknowledges and agrees that this
Lease shall not be subject or subordinate to such Mortgage or Superior Lease.

         40. INDEMNITY.  A. Tenant shall not do or permit any act or thing to be
done upon the demised  premises  which may  subject  Owner to any  liability  or
responsibility for injury,  damages to persons or property,  or to any liability
by reason of any  violation  of law or of any legal  requirement  of any  public
authority  or  otherwise,  but shall  exercise  such  control  over the  demised
premises as to fully protect Owner against any such liability.  Tenant agrees to
indemnify  and save  harmless  Owner  from and  against  any and all  claims  of
whatever  nature against Owner arising from (A) any act,  omission or negligence
of Tenant, its contractors,  licensees, agents, servants, invitees or employees,
(B) any  accident,  injury or damage  whatsoever  caused to any person or to the
property of any person and  occurring  during the term of this Lease in or about
the demised premises,  and (C) any breach,  violation or  non-performance of any
term,  covenant,  condition  or agreement in this Lease set forth on the part of
Tenant to be fulfilled,  kept,  observed or performed.  This  indemnity and hold
harmless  agreement  shall  include  indemnity  from  and  against  any  and all
liability,  loss, cost,  damage and expense of any kind or nature incurred in or
in connection with any such claim or proceeding  brought thereon and the defense
thereof  including,   without   limitation,   reasonable   attorneys'  fees  and
disbursements.  Owner, from time to time, may submit to Tenant copies of Owner's
legal bills in connection with the foregoing,  and Tenant,  upon receipt of such
bills,  shall promptly pay to Owner the amount shown thereon as additional rent.
This  indemnity and hold  harmless  agreement  shall  survive the  expiration or
earlier termination of this Lease.

                B. Owner agrees to indemnify and save  harmless  Tenant from and
against any and all liability, loss, cost, damage or expense, including, without
limitation,  reasonable attorneys' fees and disbursements,  arising from (1) any
act, omission or negligence of Owner, its agents, servants, and employees in the
operation and/or  management of the Building,  and (2) any breach,  violation of
non-performance of any term, covenant,  condition or agreement in this Lease set
forth on the  part of  Owner  to be  fulfilled,  kept,  observed  or  performed;
provided, however, in no event shall Owner be liable to Tenant for consequential
damages or lost profits under this Section 40 B or under any other  provision of
this  Lease.  This  indemnity  and hold  harmless  agreement  shall  survive the
expiration or earlier termination of this Lease.

         4l. INSURANCE.  A.  Tenant shall obtain and keep in full force and
effect during the term of this

Lease:

                    (1) a policy of  commercial  general  liability and property
damage (1973 occurrence or successor form) insurance with a broad form liability
endorsement  including a contractual  liability  endorsement and personal injury
liability  coverage,  against claims for personal injury,  death and/or property
damage occurring in or about the premises, the Building and/or the Real Property
and under which the insurer agrees to indemnify and hold Owner harmless from and
against,  among other things,  all cost, expense and/or liability arising out of
or based upon any and all claims,  accidents,  injuries and  damages,  and which
policy  shall also  contain a provision  that no act or omission of Tenant shall
affect or limit the obligation of the insurance company to pay the amount of

                                       -7-

<PAGE>

any loss sustained,  and minimum limits of liability under such policy including
products  liability and completed  operations  shall be a combined  single limit
with respect to each  occurrence in an amount of not less than Three Million and
00/000 ($3,000,000.00)  Dollars for injury (or death) and damage to property (or
in any increased amount reasonably required by Owner);

                    (2) insurance  against loss or damage by fire and such other
risks and hazards (including,  during the period of construction of any Tenant's
Work,  casualty  insurance in the  so-called  "Builder's  Risk  Completed  Value
Non-Reporting Form", burglary,  theft and breakage of glass within the premises)
as are insurable  under the  available  standard  forms of "all risk"  insurance
policies,  to  Tenant's  Property  and  Alterations,  Tenant's  Work  and all of
Tenant's  improvements  and  betterments  for the full  replacement  cost  value
thereof (including an "agreed amount" endorsement); and

                    (3) worker's  compensation and New York Temporary Disability
Benefits  insurance,  in such  amounts as shall be  required,  from time to time
during the Lease term, by statute or the  requirements  of any applicable  legal
authority.

                B. For purposes of this Lease,  Tenant hereby agrees that Owner,
Owner's Building managing agent, if any, the lessor under any Superior Lease and
the holder of any Mortgage,  including the Existing Mortgagee under the Existing
Mortgage,  respectively,  shall be  designated  as  additional  insureds and the
beneficiaries of the  indemnification  furnished by Tenant  hereunder,  and that
each policy of insurance  shall  contain a provision  that no act or omission of
Tenant shall affect or limit the obligation of the insurance  company to pay the
amount of any loss sustained,  and shall provide that it will be non-cancellable
with respect to the additional  insureds without thirty (30) days written notice
to such insureds by certified mail, return receipt requested, which notice shall
contain the policy number and names of the insureds and certificate  holders.  A
certificate  of each of the required  policies shall be delivered to Owner on or
prior to the Commencement Date.

                C.  Notwithstanding  the limits of  insurance  specified in this
Article,  Tenant agrees to indemnify Owner and the parties  designated  above in
Section 41 B as  additional  insureds  against all  damages,  loss or  liability
resulting   from  any  of  the  risks   referred  to  in  this   Article.   Such
indemnification  shall operate  whether or not Tenant has placed and  maintained
the  insurance  specified  in this  Article and whether or not,  such  insurance
having been placed and maintained,  proceeds from such insurance shall have been
received  from  any  or all of the  respective  insurance  companies;  provided,
however, that Tenant shall be relieved of its obligation of indemnity herein pro
tanto  of the  amount  actually  recovered  from  one or more  of the  insurance
companies by reason of injury or damage to or loss sustained on the premises.

                D. All  insurance  required to be carried by Tenant  pursuant to
the terms of this Lease shall be effected under valid and  enforceable  policies
issued by  reputable  and  independent  insurers  licensed to do business in the
State of New York, and rated in Best's Insurance Guide or any successor  thereto
(or if there be none, an equivalent  organization having a national  reputation)
as having a general policyholder rating of "A" and either (1) a financial rating
of at least  "l3",  or (2) a policy  holder  surplus of at least  Fifty  Million
($50,000,000.00) and 00/00 Dollars.

                E.  Tenant  shall pay all  premiums  and charges for all of said
policies,  and if Tenant  shall fail to make any  payment  when due or carry any
such  policy,  Owner may but,  shall not be  obligated  to, make such payment or
carry such policy and the amount  paid by Owner,  with  interest  thereon at the
Interest  Rate,  set  forth in  Section  36 G of this  Lease  shall be repaid to
Landlord by Tenant or demand,  and all such amounts so repayable,  together with
such interest at the Interest  Rate,  shall be  considered  as  additional  rent
hereunder.  Payment by Owner of any such premium or the carrying by Owner of any
such policy shall not be deemed to waive or release  Tenant with respect to such
default.

                F.   Tenant's   failure  to  provide   and  keep  in  force  the
aforementioned insurance shall be a material default hereunder,  entitling Owner
to exercise  any or all of the  remedies  provided in this Lease in the event of
Tenant's default.

                G. (1) Owner and  Tenant  shall each use  reasonable  efforts to
procure an  appropriate  clause in, or  endorsement  to,  each of its  insurance
policies  (insuring the Building and Real Property,  in the, case of Owner,  and
insuring Tenant's Work and Tenant's improvements and betterments, in

                                       -8-

<PAGE>

the case of Tenant), pursuant to which each insurance company waives subrogation
or consent to waiver of right of recover by the insured  prior to any loss.  The
waiver of subrogation or permission for waiver of the right of recovery in favor
or Tenant shall also extend to all other persons or entities  occupying or using
the Premises in accordance with the terms of this Lease.

                    (2) If the payment of any additional premium is required for
the  inclusion  in  the  insurance  policy,  in  question,  of  such  waiver  of
subrogation  provisions or consent to a waiver of right of recovery,  each party
shall advise the other of the amount of any such  additional  premium by written
notice and the other  party shall pay the same or shall be deemed to have agreed
that the party obtaining the insurance coverage in question shall be free of any
further  obligations  under the provisions hereof relating to the obtaining such
waiver or consent.

                    (3) If such waiver of subrogation  shall be  unattainable or
unenforceable,  each party shall  instead have included in each of its insurance
policies (a) an express  agreement  that such policy shall not be invalidated if
the assured  waives the right of recovery  against any party  responsible  for a
casualty  covered by the policy before the  causality,  or (b) any other form of
permission or release of the party.

                    (4) If such waiver,  agreement or permission  shall, not be,
or shall cease to be,  obtainable  from either  party's then  current  insurance
company,  the  insured  party  shall so notify the other  party  promptly  after
learning thereof, and shall use its best efforts to obtain the same from another
insurance company described in this Article 41.

                    (5)  Owner  will  not  carry   insurance   of  any  kind  on
Alterations,  Tenant's Work or any of Tenant's  betterments and improvements and
shall  not be  obligated  to  repair,  any  damage to or,  replace  Alterations,
Tenant's Work or Tenant's betterments and improvement;  provided,  however, that
if Tenant shall fail to maintain such insurance,  Owner shall have the right, to
obtain  insurance  on  such  Alterations,  Tenant's  Work  and  any of  Tenant's
betterments and improvements and the cost thereof,  with interest thereon at the
Interest Rate, shall be payable by Tenant to Owner as additional rent on demand.

                H. (1) Each  party  hereby  releases  the other  (its  servants,
agents, employees and invitees) with respect to any claim (including a claim for
negligence)  which it might  otherwise  have  against  the other party for loss,
damage or  destruction  with respect to this property by fire or other  casualty
i.e., in the case of Owner,  as to the Building and Real  Property,  and, in the
case of Tenant,  as to  Alterations,  Tenant's  Work and any of  Tenant's  other
improvements and betterments  (including rental value or business  interruption,
as the case may be) occurring during the term of this Lease.

                    (2) Tenant shall cooperate with Owner in connection with the
collection  of any  insurance  monies  that may be due in the  event of loss and
Tenant  shall  execute  and  deliver  to Owner  such  proofs  of loss and  other
instruments which may be required to recover any such insurance monies.

                I. Owner may, at any time and from time to time during the term,
require that the amount of the  insurance to be  maintained by Tenant under this
Article 41 be increased,  so that the amount thereof adequately protects Owner's
interest;  provided, however, that the owners of properties which are comparable
to the Building have similarly  increased the amount of insurance required to be
obtained by tenants  under leases for such  properties,  but in no event greater
than  the  replacement   cost  of  the  Building   (exclusive  of  footings  and
foundations).

                J.  Notwithstanding the foregoing provisions of this Article 41,
Owner hereby  agrees that Tenant  shall have the right to provide the  insurance
which is required hereunder as part of so-called  "blanket  insurance  policies"
which insure other properties of Tenant,  provided,  however, that such "blanket
insurance"  policies provide for an adequate  reserve,  in Owner's  opinion,  to
cover any  casualty,  damage or injury at the  Building  or  premises  for which
Tenant is required to obtain insurance coverage hereunder.

                K.  Owner  hereby  agrees to obtain  and keep in full  force and
effect, at all times during the Term of this Lease, all risk property  insurance
coverage and commercial general liability  insurance coverage as required by the
Existing Mortgage or any subsequent Mortgage encumbering the Building and/or the
Real Property.

                                       -9-

<PAGE>

         42. ASSIGNMENT,  SUBLETTING, MORTGAGE, ETC. A. (1)(a) Tenant shall not,
without the prior written consent of Owner, transfer, assign, sublet, enter into
any license or concession  agreement,  or mortgage or hypothecate  this Lease or
Tenant's  interest  in and to the  Premises  or any part  thereof,  except as is
otherwise  expressly  set forth below in this  Article 42. In the event  Owner's
written  consent  is  given  to  an  assignment  or  subletting,   Tenant  shall
nevertheless  remain liable for the  performance of all covenants and conditions
of  this  Lease.  Any  attempted  transfer,  assignment,   subletting,  license,
concession agreement or hypothecation,  as aforesaid,  without the prior written
consent of Owner shall constitute a default hereunder.

                             (b)  As long as Tenant is not in default under any
of the terms,  covenants  or  conditions  of this Lease on  Tenant's  part to be
observed or performed,  Owner agrees not to unreasonably withhold its consent to
an assignment of this Lease or Tenant's  subletting of all or substantially all,
or a portion or portions of the demised premises,  provided Tenant complies with
the requirements of this Article 42. No subletting shall be for a term less than
two (2) years  (unless  the  unexpired  term of this Lease shall be less two (2)
years,  in which  event no  subletting  shall  be for a term of less  than  such
unexpired  portion of the term,  less one day).  Tenant may not sublet less than
five-thousand  (5,000)  square feet of the demised  premises under any sublease,
and as the result of any subletting  there may not be more than four (4) tenants
or subtenants, including Tenant, on the fifth (5th) floor.

                         (c)  At least forty-five (45) days prior to any
proposed assignment or subletting, Tenant shall submit to Owner a statement (the
"Tenant's  Assignment/Subletting Notice") containing the name and address of the
proposed  assignee or subtenant and all of the principal terms and conditions of
the  proposed  assignment  or  subletting  including,  but not  limited  to, the
proposed  commencement  and expiration  dates of the term of the sublease or the
effective date of any proposed assignment, the nature of the proposed assignee's
or subtenant's  business,  and such financial and other information with respect
to the proposed assignee or subtenant as Owner may request.

                    (2)  The  Tenant's  Assignment/Subletting  Notice  shall  be
deemed an offer from Tenant to Owner whereby Owner (or Owner's designee) may, at
its option (the  "Owner's  Option"),  (a)  sublease  such space (the  "Leaseback
Space") from Tenant upon the terms and conditions  hereinafter set forth (if the
proposed  transaction is a sublease of all or substantially  all or a portion of
the demised  premises),  (b) terminate this Lease as provided in subsection 42 A
(4) and  Section  42 C hereof  or have  this  Lease  assigned  to Owner  (or its
designee) as provided in subsection 42 A (3) hereof (if the proposed transaction
is an  assignment  or a  sublease  of all or  substantially  all of the  demised
premises or a sublease  which will leave Tenant or its  successors in possession
of less than twenty-five  (25%) percent of the demised premises or (c) terminate
the Lease with respect to the Leaseback  Space as provided in  subsections  42 A
(4) (b) and (c) only if the proposed  transaction is a sublease for a portion of
the demised premises and either (X) (i) the term of the proposed sublease is for
all or substantially all of the remaining term of this Lease or (ii) a period of
at least five (5) years, or (Y) the proposed sublease term shall commence during
the final five (5) years of the term of this  Lease.  An  Owner's  Option may be
exercised by notice to Tenant,  given at any time within  thirty (30) days after
Tenant  has  given  the  Tenant's  Assignment/Subletting  Notice  to Owner  (the
"Owner's Response Period"),  and during the Owner's Response Period Tenant shall
not assign this Lease nor sublet any such space to any person or entity.

                    (3) If Owner exercises its Owner's Option to have this Lease
assigned to it (or its  designee)  in the case where  Tenant  desires  either to
assign  this  Lease or sublet all or  substantially  all of the  premises,  then
Tenant  shall  (a)  assign  this  Lease to Owner  (or  Owner's  designee)  by an
assignment in form and substance  satisfactory  to Owner,  and (b) surrender the
entire  demised  premises to Owner on or prior to the date on which the proposed
assignment  was to occur or the proposed  sublease was to commence,  as the case
may be, in the same manner and  condition  as is  required by this Lease,  as if
such date were the  Expiration  Date of this  Lease.  Such  assignment  shall be
effective  on the date the proposed  assignment  was to be effective or the date
the proposed  sublease was to commence,  as the case may be. Tenant shall not be
entitled  to  consideration  or payment  from  Owner (or  Owner's  designee)  in
connection with any such assignment.  If the proposed  assignee or sublessee was
to receive any  consideration  or concessions from Tenant in connection with the
proposed assignment or sublease, then Tenant shall pay such consideration and/or
grant any such  concessions  to Owner (or Owner's  designee)  on the date Tenant
assigns this Lease to Owner (or Owner's designee).

                    (4) (a) If Owner  exercises its Owner's  Option to terminate
this Lease in its  entirety in the case where  Tenant  desires to either  assign
this  Lease,  sublet all or  substantially  all of the  premises or enter into a
sublease  which will leave Tenant or its  successors  in possession of less than
twenty-five (25%) percent of the demised premises, then (i) this Lease shall end
and expire with respect to the entire demised  premises on the date on which the
proposed assignment was to occur or

                                      -10-

<PAGE>

the proposed  sublease  was to  commence,  as the case may be, (ii) Tenant shall
surrender the entire demised  premises to Owner on or prior to the date on which
the proposed  assignment was to occur or the proposed  sublease was to commence,
as the case may be, in the same manner and  condition as required by this Lease,
as if such date were the Expiration Date of this Lease, and (iii) from and after
such  date any  Fixed  Rent and  additional  rent  paid to such  date,  shall be
apportioned and adjusted if required.

                         (b)  If Owner exercises its Owner's Option to terminate
this Lease, in part, in any case where Tenant desires to sublet a portion of the
demised  premises (the "Portion  Premises") for a term as provided in clause (c)
of subsection 42 A (2), (i) this Lease shall end and expire in its entirety with
respect to the Portion  Premises,  for the remaining Term of this Lease,  on the
date that the proposed sublease was to commence; (ii) Tenant shall surrender the
Portion Premises to Owner on or prior to the date on which the proposed sublease
was to commence in the same manner and condition as required by this Lease as if
such date were the Expiration Date of this Lease, for the remaining Term of this
Lease;  (iii) from and after such date, the Fixed Rent, all additional  rent and
the  Tenant's  Proportionate  Share as set forth in this Lease shall be adjusted
and reduced,  based upon the  proportion  that the rentable  area of the demised
premises  remaining after such surrender of the Portion  Premises to Owner bears
to the total  rentable  area of the  demised  premises  including  an  equitable
portion  of  any  corridor  area(s)  constructed  by  Owner  as  hereinafter  in
subdivision  (iv) of this  subsection  42 A (4) (b)  provided;  (iv)  Owner,  at
Owner's expense may, and, if required by any legal requirements, shall: (A) make
such  alterations as may be required or deemed  necessary by Owner to physically
separate the Portion Premises from the balance of the demised premises; (B) make
any alterations and installations in the Portion  Premises,  required in Owner's
reasonable judgement,  to make the Portion Premises a self-contained rental unit
with access  through  corridors  to the  Building's  elevators  and core toilets
serving the Portion Premises and the demised premises, respectively, as the case
may be,  and if the  demised  premises  shall  contain  any core  toilets or any
corridors  (including any corridors proposed to be constructed by Owner pursuant
to this subdivision (iv), providing access from the Portion Premises to the core
area(s)),  Owner and any tenant or other occupant of the Portion  Premises shall
have the right to use such  toilets and  corridors in common with Tenant and any
other permitted occupant(s) of the demised premises,  respectively,  as the case
may be; (C) install signs and directional  indicators in or about such corridors
indicating  the name and  location  of such tenant or other  occupant(s)  of the
Portion Premises and the demised premises, respectively, as the case may be; and
(D) comply with any laws and requirements of any public authorities  relating to
such separation,  alterations,  installations and/or construction  including any
construction  of such corridors,  respectively,  as the case may be (unless such
costs are to be paid by the  sublessee  under the  proposed  sublease);  and (v)
Owner shall have the unqualified  and  unrestricted  right,  from and after such
date, without Tenant's  permission,  to assign its interest in, and/or to sublet
the Portion  Premises or any portion or portions of the Portion  Premises to any
person or entity  for the  remaining  term of this Lease and to make any and all
changes,  alterations  and  improvements  in  and  to the  Portion  Premises  as
required.

                         (c)  At the request of Owner, Tenant shall execute and
deliver an instrument or instruments,  in form  satisfactory  to Owner,  setting
forth any  modifications  of this Lease  contemplated  in or resulting  from the
operation of the  foregoing  provisions of this  subsection 42 A (4);  provided,
however,  neither  Owner's failure to request any such instrument or instruments
nor Tenant's  failure to execute or deliver any such  instrument or  instruments
shall vitiate or nullify the foregoing provisions of this subsection 42 A (4).

                    (5) If Owner  exercises its Owner's  Option to sublet all or
substantially all of the demised premises or the portion of the demised premises
which Tenant  desires to sublet,  as the case may be, as Leaseback  Space,  such
sublease to Owner or its  designee (as  subtenant)  shall be at the lower of (X)
the rental rate per rentable  square foot of Fixed Rent and additional rent then
payable  pursuant  to this Lease,  or (Y) the rentals set forth in the  proposed
sublease,  as the case  may be,  and  shall be for the same  term as that of the
proposed subletting, and such sublease:

                             (i)   shall be expressly subject to all of the
covenants,  agreements,  terms,  provisions  and conditions of this Lease except
such as are irrelevant or  inapplicable,  and except as otherwise  expressly set
forth to the contrary in this Section;

                                 (ii)   shall be upon the same terms and
conditions  as those  contained  in the  proposed  sublease,  except such as are
irrelevant or  inapplicable  and except as otherwise  expressly set forth to the
contrary in this Section;

                                 (iii)   shall give the sublessee the
unqualified and unrestricted right, without Tenant's permission,  to assign such
sublease or any interest  therein  and/or to sublet the  Leaseback  Space or any
portion or portions of the Leaseback Space and to make any and all changes,

                                      -11-

<PAGE>

alterations,  and  improvements in the space covered by such sublease and if the
proposed  sublease  will  result  in all  or  substantially  all of the  demised
premises being sublet, grant Owner or its designee the option to extend the term
of such sublease for the balance of the term of this Lease less one (1) day;

                             (iv)  shall provide that any assignee or further
subtenant, of Owner or its designee, may, at the election of Owner, be permitted
to make alterations, decorations and installations in the Leaseback Space or any
portion  thereof and shall also provide in substance that any such  alterations,
decorations  and  installations  in the Leaseback  Space or any portion  thereof
therein  made by any  assignee  or  subtenant  of Owner or its  designee  may be
removed,  in whole or in part,  by such  assignee or  subtenant,  at its option,
prior to or upon the expiration or other term-ination of such sublease, provided
that such  assignee or  subtenant,  at its expense,  shall repair any damage and
injury to that portion of the Leaseback  Space so sublet caused by such removal;
and

                             (v)   shall also provide that: (A) the parties to
such sublease  expressly negate any intention that any estate created under such
sublease be merged with any other estate held by either of said parties; (B) any
assignment or subletting by Owner or its designee (as the  subtenant) may be for
any purpose or purposes that Owner, in Owner's  discretion,  shall deem suitable
or appropriate; (C) Tenant, at Tenant's sole cost and expense, shall and will at
all times  provide  and permit  reasonably  appropriate  means of ingress to and
egress from the  Leaseback  Space so sublet by Tenant to Owner or its  designee;
(D) Owner, at Tenant's expense,  may and, if required by any legal requirements,
shall: (I) make such alterations as may be required or deemed necessary by Owner
to  physically  separate  the  Leaseback  Space from the  balance of the demised
premises;  (II) make any alterations and  installations  in the Leaseback Space,
required in Owner's  judgement,  to make the  Leaseback  Space a  self-contained
rental unit with access through  corridors to the Building's  elevators and core
toilets serving the Leaseback Space and the demised premises,  respectively,  as
the case may be, and if the demised  premises  shall contain any core toilets or
any corridors  (including  any  corridors  proposed to be  constructed  by Owner
pursuant to this subdivision  (v),  providing access from the Leaseback Space to
such core  area(s)),  Owner and any tenant or other  occupant  of the  Leaseback
Space  shall have the right to use such  toilets  and  corridors  in common with
Tenant  and  any  other   permitted   occupant(s)   of  the  demised   premises,
respectively, as the case may be; (III) install signs and directional indicators
in or about such  corridors  indicating  the name and location of such tenant or
other occupant(s) of the Leaseback Space and the demised premises, respectively,
as the case may be; and (IV) comply with any laws and requirements of any public
authorities and insurance requirements relating to such separation, alterations,
installations and/or construction  including any construction of such corridors,
respectively,  as the  case  may be  (unless  such  costs  are to be paid by the
sublessee  under the proposed  sublease);  and (E) that at the expiration of the
term of such sublease,  Tenant will accept the space covered by such sublease in
its then existing condition, subject to the obligations of the sublessee to make
such repairs  thereto as may be  necessary  to preserve the premises  demised by
such sublease in good order and condition, provided, however, Owner shall return
the space  covered by such  sublease to Tenant at the  expiration of the term of
such sublease,  in at least  substantially the same condition than that required
of the sublessee under the terms of the proposed sublease that Tenant desired to
enter into of which Owner shall have been given  notice by Tenant  precipitating
the exercise of Owner's Option.

                    (6) (a) If Owner  exercises its Owner's Option to sublet the
Leaseback  Space,  Owner  shall  indemnify  and save  Tenant  harmless  from all
obligations under this Lease as to the Leaseback Space during the period of time
it is so sublet to Owner.

                         (b)  Performance by Owner (or its designee), under a
sublease of the  Leaseback  Space shall be deemed  performance  by Tenant of any
similar  obligation  under this Lease and any  default  under any such  sublease
shall not give rise to a default  under a similar  obligation  contained in this
Lease,  nor shall Tenant be liable for any default under this Lease or deemed to
be in default  hereunder if such default is occasioned by or arises from any act
or omission of the tenant under such sublease or is occasioned by or arises from
any act or  omission  of any  occupant  holding  under or  pursuant  to any such
sublease.

                         (c)  Tenant shall have no obligation, at the expiration
or earlier  termination  of the term of this  Lease,  to remove any  alteration,
installation  or  improvement  made in the  Leaseback  Space  by  Owner  (or its
designee).

                    (7) In the event Owner does not  exercise an Owner's  Option
provided to it pursuant to the provisions of this Section 42 A and provided that
Tenant is not in  default  of any of  Tenant's  obligations  under  this  Lease,
Owner's  consent (which must be in writing and form  reasonably  satisfactory to
Owner) to the proposed assignment or sublease shall not be unreasonably

                                      -12-

<PAGE>

withheld or delayed provided,  however,  Owner, shall not be deemed unreasonable
in withholding its consent to any sublease or assignment if:

                                 (a)  the proposed subtenant or assignee, as the
case may be, is not of a character or does not have  financial  worth such as is
in keeping with the standards for the Building,  or does not have sufficient net
worth  given  the  responsibilities  involved,  or the  nature  of the  proposed
subtenant's or assignee's  business or its reputation is not in keeping with the
character of the Building and its tenancies;

                                    (b)  a purpose for which the proposed
subtenant or assignee  intends to use the demised premises is a use which is not
a  Permitted  Use under  this  Lease or is a  "Restricted  Use" (as such term is
hereinafter defined) under this Lease or is prohibited by any other lease in the
Building;

                                    (c)  Tenant shall have (i) advertised or
publicized in any way the  availability  of all or part of the demised  premises
without  Owner's  consent,  or (ii)  listed or publicly  advertised  the demised
premises  for  subletting  or  assignment,  whether  through  a  broker,  agent,
representative  or otherwise,  at a rental rate less than the greater of (y) the
Fixed Rent and additional rent then payable hereunder,  or (z) the rent at which
Owner is then offering to lease comparable space in the Building  (provided that
nothing contained in this Subsection (c) shall be deemed to prohibit Tenant from
negotiating and consummating a sublease at a lesser rental rate);

                                    (d)  the proposed occupancy shall impose an
extra  burden upon the  Building's  mechanical,  electric,  sanitary,  plumbing,
heating, air conditioning, ventilating, utility or other systems or the Building
services;

                                    (e)  the proposed sublease or assignment
shall not prohibit any further  assignment or  subletting,  except in accordance
with this Article 42;

                                    (f)  Tenant shall be in default in the
performance  of any of its  obligations  under  this  Lease,  either at the time
Owner's  consent  to  such  subletting  or  assignment  is  requested  or at the
commencement  of the term of any proposed  sublease or on the effective  date of
any such assignment;

                                    (g)  Tenant shall fail to reimburse Owner
for any reasonable  costs that may be incurred by Owner in connection  with said
sublease or assignment,  including the costs of making  investigations as to the
acceptability of a proposed subtenant or assignee;

                                    (h)  the proposed subtenant or assignee
shall then be a tenant of any space in the  Building or a related  entity of any
other tenant in the Building and there is comparable  space available or soon to
be available in the Building for such assignee's or subtenant's needs;

                                      (i)  the proposed subtenant or assignee
shall be entitled,  directly or indirectly,  to diplomatic or sovereign immunity
or shall not be subject to the  service of process in, and the  jurisdiction  of
the courts of, New York State; or

                                     (j)  the proposed subtenant or assignee
shall be a person then negotiating with Owner for the rental of any space in the
Building or in any other building owned by Owner or its affiliates. Tenant shall
pay to Owner a reasonable  processing fee and the reasonable attorneys' fees and
disbursements  incurred  in  connection  with  Owner's  review  of any  proposed
assignment or subletting.

                B. If there is a  dispute  between  Owner  and  Tenant as to the
reasonableness  of Owner's  refusal to consent to any  assignment or subletting,
such  dispute  shall  be  determined  by  arbitration  in  accordance  with  the
provisions of Article 54. Any such determination shall be final and binding upon
the  parties,  whether or not a judgment  shall be entered in any court.  If the
determination  of any such  arbitration  proceeding  shall be  adverse to Owner,
Owner  shall  not be  liable to Tenant  for a breach  of  Owner's  covenant  not
unreasonably  to withhold such  consent,  and Tenant's sole remedy in such event
shall be to enter into the proposed assignment or subletting.

                C.  Anything  contained  in the  foregoing  provisions  of  this
Article 42 to the contrary notwithstanding,  if Tenant proposes to sublet all or
substantially  all of the demised  premises or assign this Lease,  and Owner has
exercised its Owner's  Option,  as provided in subsection 42 A (4) hereof,  this
Lease shall terminate on the date (hereinafter  called the "Earlier  Termination
Date")

                                      -13-

<PAGE>

immediately  prior  to the  effective  date of the  assignment  or the  proposed
commencement  date of the term of the proposed  subletting,  as the case may be,
and, if such notice is given,  (1) this Lease and the term hereof  shall come to
an end and expire on the Earlier  Termination Date with the same effect as if it
were the  Expiration  Date,  (2) the Fixed  Rent and  additional  rent  shall be
apportioned as of said Earlier  Termination Date, and (3) any prepaid portion of
Fixed Rent or  additional  rent for any period after such date shall be refunded
by Owner  to  Tenant.  Anything  contained  in this  Section  C to the  contrary
notwithstanding,  provided  Tenant  complies with all of the  provisions of this
Article 42 (including,  without limitation, Section A), a proposed assignment by
Tenant of this Lease in connection  with a sale of all or  substantially  all of
the assets of Tenant to the  proposed  assignee  shall not be subject to Owner's
right to terminate this Lease in accordance with this Section C or to cause this
Lease to be assigned to Owner (or its  designee) as herein  provided;  provided,
however,  that the aforesaid limitation on Owner's right to terminate this Lease
or to cause  this  Lease to be  assigned  to Owner (or its  designee)  as herein
provided  shall not apply,  and Owner shall be free to  terminate  this Lease in
accordance  with this  Section C, or to cause this Lease to be assigned to Owner
(or its  designee)  as herein  provided,  under  circumstances  where one of the
principal  reasons  prompting such asset sale has been to enable Tenant to sell,
and  such  purchaser  to  acquire,  Tenant's  interest  in this  Lease,  thereby
circumventing the provisions of this Section C.

                D. If Tenant obtains  Owner's  consent to the assignment of this
Lease or the  subletting of the demised  premises,  then within ten (l0) days of
the  execution  thereof,  Tenant  shall  deliver  to Owner (1) in the case of an
assignment  (a) a  duplicate  original  instrument  of  assignment  in form  and
substance  theretofore  approved by Owner,  duly executed by Tenant,  and (b) an
instrument in form and substance theretofore approved by Owner, duly executed by
the assignee,  in which such assignee assumes the observance and performance of,
and agrees to be bound by, all of the terms,  covenants  and  conditions of this
Lease on Tenant's  part to be observed and  performed,  and (2) in the case of a
subletting, an executed duplicate original of the sublease in form and substance
theretofore approved by Owner.

                E. (1) For  purposes of this  Article 42, the term  "assignment"
shall be deemed to include,  but shall not be limited to the following,  whether
occurring  at any  one  time or  over a  period  of time  through  a  series  of
transfers:  (a) the sale or transfer of all or  substantially  all of the assets
of, or the sale, assignment or transfer of any issued or outstanding stock which
results  in a  change  in the  controlling  interest  of any  corporation  which
directly or indirectly is Tenant under this Lease or is a general partner of any
partnership  or joint venturer of any joint venture which directly or indirectly
is Tenant under this Lease,  (b) the issuance of any  additional  stock,  if the
issuance of such  additional  stock will  result in a change of the  controlling
stock  ownership of such  corporation as held by the  shareholders  thereof when
such corporation became Tenant under this Lease, and (c) the sale, assignment or
transfer of a general partner's or joint venturer's  interest in the partnership
or joint  venture,  as the case may be, which is Tenant under this Lease,  or in
the  distributions  of profits and losses of such  partnership or joint venture,
which results in a change of control of such  partnership or joint  venture,  as
the case may be.

                    (2) The foregoing  provisions of this Section 42 E shall not
apply to transactions  with a corporation into or with which Tenant is merged or
consolidated  or to  transactions  with a corporation  or  partnership  to which
substantially all of Tenant's assets are transferred or to any corporation which
"controls"  or is  "controlled  by  Tenant"  or is "under  common  control  with
Tenant",  provided  that in any of such events (a) the  successor to Tenant is a
reputable  entity of good  character and has a net worth  computed in accordance
with generally accepted  accounting  principles  consistently  applied, at least
equal to the  greater of (i) the net worth of Tenant  immediately  prior to such
merger,  consolidation  or transfer,  or (ii) the net worth of the Tenant herein
named on the date of this  Lease,  (b) proof  satisfactory  to Owner of such net
worth  shall  have been  delivered  to Owner at least ten (10) days prior to the
effective date of any such transaction,  (c) a duplicate original  instrument of
assignment in form and substance  satisfactory to Owner duly executed by Tenant,
shall have been delivered to Owner at least ten (10) days prior to the effective
date of any  such  transaction,  and (d) an  instrument  in form  and  substance
satisfactory  to Owner,  duly executed by the  assignee,  in which such assignee
assumes (as of the Commencement  Date) observance and performance of, and agrees
to be personally  bound by, all of the terms,  covenants and  conditions of this
Lease on Tenant's part to be performed and observed shall have been delivered to
Owner  at  least  ten  (10)  days  prior  to the  effective  date  of  any  such
transaction.  Further,  any  agreement  pursuant to which (x) Tenant is relieved
from the  obligation to pay, or a third party agrees to pay on Tenant's  behalf,
all or a part of Fixed Rent or  additional  rent under this lease,  and (y) such
third  party  undertakes  or is granted any right to assign or attempt to assign
this Lease or sublet or attempt  to sublet all or any  portion of the  premises,
shall be deemed an  assignment  of this Lease and subject to the  provisions  of
this Article 42.

                                      -14-

<PAGE>

                    (3) For purposes of this  Section 42 E, the term  "control",
"controlled  by Tenant" or "under common  control with Tenant" shall mean (a) in
the case of a corporation,  ownership by Tenant, whether directly or indirectly,
of at least fifty-one (51%) percent of all of the voting stock thereof,  and (b)
in the case of a partnership,  joint venture or other legal entity, ownership by
Tenant whether directly or indirectly of at least fifty-one (51%) percent of all
of the legal or beneficial interests thereof.

                F.  (1) If  Tenant  shall  receive  any  consideration  from its
assignee for or in connection  with the assignment of Tenant's  interest in this
Lease  (including,  but not  limited  to,  sums  paid for the sale or  rental of
Tenant's  Property,  Tenant's  Work and any  other  Tenant  fixtures,  leasehold
improvements, equipment, furniture or other personal property, less, in the case
of a sale  thereof,  the then net  unamortized  or  undepreciated  cost  thereof
determined on the basis of Tenant's  federal  income tax returns),  Tenant shall
account to Owner therefor and shall pay to Owner,  as additional rent hereunder,
fifty  (50%)  percent  of such  consideration  as and  when the same are paid to
Tenant by the assignee,  less any brokerage commissions,  to the extent the same
are reasonable and are actually paid by Tenant.

                    (2) If Tenant  shall  sublet the demised  premises to anyone
for rents or other  consideration  which for any period  shall  exceed the Fixed
Rent and  additional  rent payable under this Lease for the same period,  Tenant
shall  account to Owner  therefor  and shall pay to Owner,  as  additional  rent
hereunder,  fifty (50%) percent of such excess rents or other  consideration  as
and  when  the same are paid to  Tenant  by the  subtenant,  less any  brokerage
commissions,  to the extent the same are  reasonable  and are  actually  paid by
Tenant.

                G.  In the  event  that  Owner  consents  to any  assignment  or
subletting  pursuant to this  Article 42 and Tenant fails to execute and deliver
the assignment or sublease to which Owner shall have consented within forty-five
(45) days after the giving of consent,  then Tenant  shall again comply with all
of the  requirements  of this Article 42 before  assigning  its interest in this
Lease or subletting the demised premises.

                H. (1) If Tenant  assumes  this Lease and proposes to assign the
same  pursuant  to  the  provisions  of ll  U.S.C.  Section  l0l  et.  seq  (the
"Bankruptcy Code") to any person or entity who shall have made a bona fide offer
to accept an assignment of this Lease on terms acceptable to Tenant, then notice
of such  proposed  assignment  shall be given to Owner by Tenant  no later  than
twenty  (20) days after  receipt  by Tenant,  but in any event no later than ten
(l0) days prior to the date that  Tenant  shall make  application  to a court of
competent  jurisdiction for authority and approval to enter into such assignment
and  assumption.  Such  notice  shall set forth (a) the name and address of such
person,  (b) all of the terms and  conditions  of such offer,  and (c)  adequate
assurance  of future  performance  by such person  under this Lease,  including,
without  limitation,  the  assurance  referred  to in Section  365 (b)(3) of the
Bankruptcy Code. Owner shall have the prior right and option, to be exercised by
notice to Tenant given at an time prior to the  effective  date of such proposed
assignment,  to accept  an  assignment  of this  Lease  upon the same  terms and
conditions and for the same  consideration,  if any, as the bona fide offer made
by such person, less any brokerage  commissions which would otherwise be payable
by Tenant out of the  consideration to be paid by such person in connection with
the assignment of this Lease.

                    (2) The term "adequate  assurance of future  performance" as
used in this Lease  shall mean that any  proposed  assignee  shall,  among other
things (a) deposit with Owner on the assumption of this Lease an amount equal to
the then annual  Fixed Rent and  additional  rent as security  for the  faithful
performance and observance by such assignee of the terms and obligations of this
Lease,  which sum shall be held in accordance  with the provisions of Article 34
hereof,  (b) furnish  Owner with  financial  statements of such assignee for the
prior three (3) fiscal years, as finally determined after an audit and certified
as correct be a certified public  accountant,  which financial  statements shall
show a net  worth of at least  two (2)  times  the net worth of Tenant as of the
date of this  Lease  for each of such  three  (3)  years,  (c)  grant to Owner a
security  interest in such property of the proposed assignee as Owner shall deem
necessary to secure such assignee's future performance under this Lease, and (d)
provide such other  information or take such action as Owner,  in its reasonable
judgement,  shall  determine is necessary to provide  adequate  assurance of the
performance by such assignee of its obligations under this Lease.

                                      -15-

<PAGE>

         43.  ELECTRICITY.  A. (l) (a) The  Building  is equipped  with  risers,
feeders and wiring so as to supply electrical service to the demised premises. A
submetering  system shall be installed,  at Tenant's  expense,  by Owner (or its
affiliate(s)  and/or  contractor(s)),  as hereinafter  provided,  to measure the
amount of  "Usage"  (as  defined in  Section  43 C (1)  hereof)  to the  demised
premises  and all  equipment  and  facilities  servicing  the demised  premises,
including,  but not limited to, the heating and air conditioning units servicing
the demised premises (whether or not located therein). Where more than one meter
measures  the amount of Usage,  Usage  through  each meter shall be computed and
billed separately in accordance with the provisions of this Article 43.

                         (b)  Owner hereby agrees that Owner shall furnish
Tenant with electric current with an average  connected load of six (6) watts of
electricity per rentable square foot to the demised premises (exclusive of usage
for the Building's  centrally  provided air conditioning) for Tenant's lighting,
office equipment and business machinery,  and for Tenant's  broadcasting studios
and kitchen and dining facilities.

                    (2) (a) Owner  agrees  that Owner shall be  responsible,  at
Owner's  sole cost and  expense,  to install the  submetering  system to measure
Tenant's consumption of electric energy at and within the demised premises.

                         (b)  Owner shall install the aforedescribed submetering
system as part of the Initial  Construction  Work to be performed at the demised
premises by Owner and/or Owner's affiliate(s) and/or contractor(s) in accordance
with the terms and provisions of Article 60 of this Lease.

                         (c)  The aforedescribed installation of the submetering
system is called the  "Electric  Meter System  Installation".  The date on which
Owner and/or its  affiliate(s)  and/or  contractor(s)  shall have  completed the
Electric  Meter  System  Installation,  is called  the  "Electric  Meter  System
Installation Date". Tenant acknowledges and agrees that on the Commencement Date
Tenant  shall  be  obligated  to  commence   payment  for  its  electric  energy
consumption at the demised  premises  based on the  measurement of such electric
consumption by such submetering system as is hereinbelow  provided in Sections C
and D of this  Article  43, and  except as is  otherwise  hereinafter  expressly
provided in Sections I and J of this Article 43.

                B. Any additional risers,  feeders or other equipment or service
proper or necessary  to supply  Tenant's  electrical  requirements,  will,  upon
written  request of Tenant,  be installed by Owner, at the sole cost and expense
of Tenant,  if in Owner's sole  judgement,  the same are  necessary and will not
cause  permanent  damage or injury to the  Building or the  demised  premises or
cause or create a dangerous  or  hazardous  conditions  or entail  excessive  or
unreasonable alterations,  repairs or expense or interfere with or disturb other
tenants or occupants. Rigid conduit only will be allowed.

                C.  For purposes of Sections D and E of this Article 43:

                    (1)  "Usage"  shall  mean  actual  usage of  electricity  as
measured by the aforesaid  submetering  system for each  calendar  month or such
other  period as Owner shall  determine  during the term of this Lease and shall
include the  quantity and peak demand  (kilowatt  hours and  kilowatts)  and all
applicable taxes,  surcharges,  demand charges,  energy charges, fuel adjustment
charges,  time of day charges,  seasonal rate  adjustment  charges and all other
sums and  adjustments  made  from  time to time by the  public  utility  company
supplying electric current to the Building or any governmental  authority having
jurisdiction thereover;

                    (2)  "Owner's  Rate" shall mean the public  utility  service
classification  (including all surcharges,  demand charges, energy charges, fuel
adjustment  charges,  time of day charges,  seasonal rate adjustment charges and
all applicable  taxes regularly passed on to consumers by the public utility and
all other sums and  adjustments  payable in respect  thereof)  pursuant to which
Owner  purchases  electric  energy for the  Building as if Owner were  supplying
electric energy solely for the demised premises;

                    (3)      "Basic Cost" shall mean the product of (a) Usage,
multiplied by (b) the Owner's Rate; and

                    (4) "Tenant's Cost" shall mean an amount equal to the sum of
(a) the Basic  Cost,  plus (b) five (5%)  percent of the Basic Cost for  Owner's
overhead and expenses  incurred in connection with the costs and  administration
of such submetering.

                                      -16-

<PAGE>

                D.  Owner  shall,  from time to time but not more than  monthly,
furnish Tenant with an invoice  indicating the period during which the Usage was
measured and the amount of the Tenant's Cost payable by Tenant to Owner for such
period.  Within ten (10) days after receipt of each such  invoice,  Tenant shall
pay the amount of Tenant's Cost set forth  thereon to Owner as additional  rent.
In addition, if any tax is imposed upon Owner by any municipal, state or federal
agency or subdivision with respect to the purchase, sale or resale of electrical
energy supplied to Tenant  hereunder,  Tenant  covenants and agrees that,  where
permitted by law, Tenant's  Proportionate Share of such taxes shall be passed on
to,  included in the bill to, and paid by Tenant to Owner,  as  additional  rent
hereunder.

                E. Owner shall not in anywise be liable or responsible to Tenant
for any loss or damage or expense  which  Tenant may  sustain or incur if either
the  quantity  or  character  of  electric  service  is  changed or is no longer
available or suitable for Tenant's  requirements  due to matters  beyond Owner's
control.

                F.  Owner   reserves   the  right  to   discontinue   furnishing
electricity to Tenant in the demised  premises on not less than sixty (60) days'
notice to Tenant,  provided  either such  dis-continuance  is required by law or
Owner  has  elected  to  discontinue  furnishing  electric  energy  to all other
similarly  situated  tenants in the Building.  If Owner  exercises such right to
discontinue  furnishing electricity to Tenant, this Lease shall continue in full
force and  effect  and shall be  unaffected  thereby.  If Owner so  discontinues
furnishing  electricity to Tenant,  Tenant shall obtain electric energy directly
from the public utility company furnishing electric service to the Building. The
costs of such service  shall be paid by Tenant  directly to such public  utility
company furnishing electric service to the Building,  but a default by Tenant in
the timely payment of any bill or charge of such public utility company shall be
deemed a default  by Tenant  under  this  Lease.  Such  electric  energy  may be
furnished to Tenant by means of the then existing systems to the extent that the
same are available,  suitable and safe for such purposes as determined by Owner,
which existing systems Owner agrees to continue to make available to the demised
premises to such extent. All meters,  submeters and all additional panel boards,
feeders,  risers,  wiring,  and other conductors and equipment which do not then
exist to  service  the  demised  premises  and which may be  required  to obtain
electric  energy,  shall  (i) if Owner has  elected  to  discontinue  furnishing
electricity  to Tenant  because  Owner has  elected  to  discontinue  furnishing
electric energy to all office tenants in the Building,  be installed by Owner at
Owner's  sole coast and expense,  and (ii) if Owner has been  required by law to
discontinue  furnishing  electric energy to Tenant,  be installed by Tenant,  at
Tenant's sole cost and expense, and the installation thereof shall be subject to
Owner's  approval  and shall be performed  in  accordance  herewith and with the
applicable provisions of Articles 3 and 38 of this lease.

                G. Tenant agrees that,  regardless  of which method  governs the
supply of  electricity  to the  demised  premises,  it will  make no  electrical
installations,  alterations,  additions  or charges to  electrical  equipment or
appliances  without  prior  written  consent of Owner in each  instance.  Tenant
covenants  and agrees that, at all times,  its use of electric  current will not
exceed the capacity of existing  feeders to the Building or the risers or wiring
installation,  and  Tenant  will not use any  electrical  equipment  which  will
overload such  installations  or interfere with the use thereof by other tenants
or occupants of the  Building.  If, in Owner's  judgement,  Tenant's  electrical
requirements  necessitate  installation or an additional riser,  risers or other
proper and  necessary  equipment,  the same may be  installed by Owner (if Owner
determines such  installation is practicable) at Tenant's sole cost and expense,
which shall be chargeable and  collectible as additional  rent and paid with ten
(10) days after the rendition of a bill to Tenant therefor.

                H. At Owner's  option,  Tenant shall  purchase from Owner or its
designee  all lighting  tubes,  lamps,  bulbs and  ballasts  used in the demised
premises and Tenant shall pay, on demand, as additional rent, Owner's reasonable
charges for providing and installing the same.

                I. (1) In the event the  submetering  system  installed  for the
measurement  of  electricity   consumption  at  the  demised  premises,  or  any
alternative  submetering  system  installed  by Owner at a later  date,  becomes
prohibited by law from use, then Owner, at its expense, may cause an independent
electrical engineer chosen by Owner or an electrical consulting firm selected by
Owner (hereinafter  called the "Electrical  Consultant") to survey and determine
Usage in, and Basic Cost for, the demised  premises  from time to time, at least
once per twelve (12) month period, and the Electrical Consultant shall make such
determination using criteria generally accepted in the

                                      -17-

<PAGE>

metropolitan  New York City area and the Owner's Rate in effect at the time, and
shall  include the  quantity and peak demand,  for all  electricity  consumed by
Tenant  plus five  (5%)  percent  of the Basic  Cost for  Owner's  expenses  and
administration  fees. The determination made by the Electrical  Consultant shall
be binding on both Owner and Tenant, except as provided in subsection (2) below,
and such  amount  shall be deemed the  Tenant's  Cost for all  purposes  of this
Article 43.

                    (2)  The  Owner's  Determination  given  by  the  Electrical
Consultant  to Owner and Tenant  above  shall be  conclusive  and  binding  upon
Tenant,   unless   within   sixty  (60)  days  after  the   receipt  of  Owner's
Determination,  Tenant shall notify  Owner that it disputes the  correctness  of
Owner's Determination.  If such dispute is based on Tenant's Usage, Tenant shall
submit with its  dispute  notice a survey and  determination  of such demand and
consumption made at its sole expense, by a reputable and independent  electrical
engineer  or  electrical  consulting  firm  selected  by Tenant  and  reasonably
acceptable  to Owner (the  "Tenant's  Engineer"),  within  sixty (60) days after
receipt  by Tenant of Owner's  Determination.  If Owner and Tenant are unable to
resolve the differences  between them by agreement within thirty (30) days after
receipt  by Owner of a copy of  Tenant's  Determination,  the  dispute  shall be
decided by a third reputable and independent  electrical  engineer or electrical
consulting firm (the "Additional Engineer").  If the parties shall fail to agree
upon the designation of the Additional Engineer within forty (40) days after the
rendering of Tenant's Determination, then either party may apply to the American
Arbitration  Association  or any successor  thereto for the  designation  of the
Additional  Engineer.  The Additional Engineer shall conduct such hearings as he
deems appropriate and, within thirty (30) days after his designation, render his
determination (the "Additional Engineer's  Determination"),  and such Additional
Engineer's  Determination  shall be  conclusive  and  binding  upon the  parties
whether  or not a  judgement  shall be  entered  in any  court.  The fees of the
Additional  Engineer and the costs of  arbitration  shall be paid equally by the
parties,  except that each party shall pay its own counsel fees and expenses, if
any, in  connection  with the  arbitration.  Pending the  resolution  of such by
agreement or arbitration as aforesaid,  Tenant shall pay the amount as set forth
on Owner's Determination in accordance with the Owner's  Determination,  without
prejudice to Tenant's  position,  as herein  provided.  If the dispute  shall be
resolved in Tenant's  favor,  Owner shall  forthwith pay to Tenant the amount of
Tenant's  overpayment of such amount as indicated by the  Additional  Engineer's
Determination.

                J. In the  event  that  Owner  and/or  its  affiliate(s)  and/or
contractor(s)  shall not have timely  installed the  aforementioned  submetering
system  as of  the  Commencement  Date,  all  for  reasons  beyond  the  Owner's
reasonable control, Tenant shall pay to Owner the sum of $6,812.50 (the "Interim
Electric  Period"),  for  each  month  from  the  Commencement  Date  until  the
occurrence of the Electric Meter System  Installation Date. The Interim Electric
Payment  shall be paid by Tenant,  as additional  rent,  but in advance prior to
Tenant's taking  possession of the demised premises,  respectively,  as the case
may be, as  aforesaid,  and  thereafter  on the first (1st) day of each calendar
month until the occurrence of the Electric Meter System  Installation  Date. The
Interim  Electric  Payment  shall be pro-rated to reflect any period less than a
full calendar month.

                K.  Owner's  failure  during  the term of this  Lease to prepare
and/or deliver any invoice,  and/or Owner's  failure to make a demand under this
Article 43 or any other provisions of this Lease, respectively,  as the case may
be,  shall not in any way be deemed to be a waiver of, or cause Owner to forfeit
or  surrender,  its  rights to  collect  any  amount  which may have  become due
pursuant to this Article 43.  Tenant's  liability for the amounts due under this
Article  43 shall be paid by Tenant  to Owner,  as  additional  rent,  and shall
survive the expiration or sooner termination of this Lease.

         44.   END OF TERM.  A.  Tenant's obligation to pay Fixed Rent,
additional  rent and any other  charges  accruing  hereunder  shall  survive the
expiration  or earlier  termination  of this Lease,  to the extent  necessary to
carry out the  provisions  of this Lease with  respect to  Tenant's  obligations
accrued prior to such expiration or earlier termination.

                B. Tenant  acknowledges  that possession of the demised premises
must be surrendered to Owner on the Expiration Date.  Tenant agrees to indemnify
and save harmless Owner from and against any and all cost, damage, expense, loss
or liability  (including,  without  limitation,  reasonable  attorneys' fees and
disbursements and any claims made by any succeeding tenant) resulting from delay
by Tenant in so surrendering  the demised  premises.  The parties  recognize and
agree that the damage to Owner  resulting  from any  failure by Tenant to timely
surrender  possession of the demised  premises as aforesaid  will be substantial
and will be impossible to accurately  measure.  Tenant  therefore agrees that if
possession of the demised premises is not surrendered to Owner within

                                      -18-

<PAGE>

twenty-four (24) hours after the Expiration Date, then Tenant shall pay to Owner
for each month and for each  portion of any month during which Tenant holds over
in the demised  premises after the  Expiration  Date, a sum equal to one and one
half (1 1/2)  times  the  aggregate  of  that  portion  of the  Fixed  Rent  and
additional  rent which was payable under this Lease during the last month of the
term hereof (or a pro rata  portion  thereof,  if  applicable).  Nothing  herein
contained  shall be deemed to permit Tenant to retain  possession of the demised
premises  after the Expiration  Date.  The  pro-visions of this Article 44 shall
survive the expiration or sooner termination of this Lease.

         45.  INABILITY TO PERFORM.  A.  It is expressly understood that no
inability or delay in either the  performance  of  obligations  or the supply of
services  on the part of Owner to be  performed  and/or  supplied  in this Lease
provided,  as the case may be,  which is due to any of the  reasons set forth in
Article 27 hereof or any other reason beyond Owner's reasonable  control,  shall
constitute a constructive eviction, and that Owner shall not be liable to Tenant
in damages,  nor shall  Tenant be entitled to make any claims for or be entitled
to any abatement in the payment of Fixed Rent or additional rent  hereunder,  in
the event of such inability or delay.

                B.  Notwithstanding the foregoing provisions of this Article 45,
if (1) Owner shall make repairs, alterations, additions or improvements in or to
the Building (or any portion thereof)  including those referred to in Articles 4
and  20 of  this  Lease,  or to  the  demised  premises,  or  to  the  fixtures,
appurtenances or equipment  thereof,  or if Owner shall be required to interrupt
the  furnishing or supply of services to Tenant  hereunder (a) when necessary by
reason  of  accident,   emergency,  or  for  repairs,  or  by  reason  of  legal
requirements or insurance requirements or any compliance therewith,  or (b) as a
result of additions, alterations,  replacements,  decorations or improvements to
the  Building or to the demised  premises  which in the  judgement  of Owner are
desirable or necessary to be made,  and/or (2) Owner shall fail to perform or to
make those  necessary  repairs or  alterations  to the Building,  the Building's
Systems, or to the demised premises,  which Owner is obligated to perform,  make
or maintain as in Articles 4 and 13 of this Lease provided,  and which Tenant is
not obligated to perform,  maintain and/or make as in this Lease  provided,  and
such repairs, alterations, additions, improvements, or such interruption of such
services  to  Tenant,  or  failure  on the part of Owner to perform or make such
necessary repairs or alterations, as aforesaid, as the case may be, shall result
in a substantial and material  interruption of Tenant's  business at the demised
premises,  as provided  herein,  Owner hereby  agrees that if the  circumstances
described in either  subdivisions (1) or (2) of this Section B shall result in a
substantial  and  material  interruption  of Tenant's  business  (as  reasonably
determined by Owner and Tenant) for a period in excess of ten (10) business days
from and  after the  giving  of notice by Tenant to Owner of such  interruption,
then,  from and after said ten (10) business day period,  Fixed Rent shall abate
in proportion to the  substantiality  and  materiality of the  interruption  (as
reasonably  determined by Owner and Tenant) until such time as Tenant's business
is no  longer  substantially  and  materially  interrupted  as a result  of such
circumstances (as reasonably  determined by Owner and Tenant). In the event that
Owner and Tenant are unable to mutually agree within a reasonable period of time
on their reasonable  determination as to the  substantiality  and materiality of
any of the foregoing  matters referred to above in this Section 45 B (where such
mutual  reasonable  determination  shall be required as  hereinabove  provided),
either party shall have the right to refer their dispute or disagreement,  as to
the matter in question,  to resolution  by  arbitration  in accordance  with the
provisions of Article 54 of this Lease.

         46. AIR  CONDITIONING.  A. Owner, at Owner's expense,  shall furnish to
and distribute in the demised premises,  through the air conditioning  equipment
of the Building, cool air at reasonable  temperatures,  pressures and degrees of
humidity,  and in reasonable volume and velocities at suitable  locations,  from
8:30 a.m. to 6:00 p.m. on business  days from May l5th through  September  30th,
both dates inclusive.  Owner shall furnish mechanical ventilation of the demised
premises  through said air conditioning  system,  from 8:30 a.m. to 6:00 p.m. on
business days from October lst through May l4th, both dates inclusive. If Tenant
desires such air conditioning or mechanical  ventilation services at times other
than those  hereinabove  specified,  Owner will furnish the same upon reasonable
advance  notice and Tenant  shall pay for such  additional  services  at Owner's
established Building standard rates, or if no standard rates are established, at
reasonable rates to be agreed upon before the services are rendered.

                B. Tenant shall keep all windows in the demised  premises closed
whenever the air  conditioning  system is in  operation,  and at all times shall
cooperate fully with Owner and comply with all Rules and Regulations which Owner
may prescribe for the proper functioning and protection of said air conditioning
and ventilating system.

                                      -19-

<PAGE>

                C. Owner,  throughout the term of this Lease shall have free and
unrestricted  access to any air conditioning  room located within or adjacent to
the demised premises.

                D. No diminution or abatement of Fixed Rent,  additional rent or
other  compensation  shall be claimed by Tenant,  nor shall this Lease or any of
the   obligations  of  Tenant   hereunder  be  affected  or  reduced  by  reason
interruption,  curtailment,  stoppage, or suspension of such air conditioning or
mechanical  ventilation  when the same  shall be due to any of the  reasons  set
forth in Article 27 hereof or any other reason beyond Owner's control.

                E.  (1) In  addition  to  Owner's  furnishing  of  cool  air and
mechanical  ventilation to the demised premises,  as hereinabove in this Article
46 provided, Owner is making available to Tenant for Tenant's use in the demised
premises, the "Supplemental A/C Unit" (as such terms are herein-after defined in
this Section 46 E).

                    (2) Tenant may elect to utilize the Supplemental A/C Unit at
any time during the Lease term, for the provision of such extra air conditioning
capacity as Tenant deems  necessary or desirable to  supplement  the  building's
ventilating and air  conditioning  system servicing the demised premises and the
Additional Space, as described above in this Article 46.

                    (3) Owner makes no representation or warranty with regard to
the  Supplemental  A/C Unit and/or its  condition  or fitness for use and Tenant
agrees to accept the Supplemental  A/C Unit on the Commencement  Date in its "as
is" condition as of that date. Owner shall connect the A/C Supplemental  Unit to
the metering system to be installed at the premises by Owner to measure Tenant's
consumption of electricity required to use and operate the Supplemental A/C Unit
and Tenant shall pay for all electricity  used to operate the  Supplemental  A/C
Unit, as provided in Section 43 B of this Lease.

                    (4) Tenant shall, at Tenant's sole cost and expense, perform
all necessary  repairs,  maintenance  and/or replacement of the Supplemental A/C
Unit,  throughout  the term of this Lease.  Owner shall have no obligation  with
respect to the proper functioning, repair, maintenance and/or replacement of the
Supplemental  A/C  Unit,  and the same  shall  not  constitute  or be  deemed to
constitute part of the Building's  plumbing,  electrical,  mechanical,  heating,
ventilating or any other systems.

                    (5) On the  Expiration  Date or earlier  termination of this
Lease,  Tenant shall surrender the  Supplemental  A/C Unit, or any  replacements
thereof to Owner, and Owner shall accept the same in its then "as is" condition.

                    (6) For purpose of this Section 46 E, the term "Supplemental
A/C Unit" shall mean a Building-standard three (3) ton capacity supplemental air
conditioning   unit  and  related   machinery  and   equipment,   including  air
conditioning  piping,  ductwork and/or other means of  distributing  the cool or
conditioned  air from said  supplemental  air  conditioning  unit throughout the
demised premises.

         47.  ADDITIONAL CHARGES.  A.  For purposes of this Article 47:
              ------------------

                    (l) "Taxes" shall mean the  aggregate  amount of real estate
taxes and any  general  or  special  assessments  (exclusive  of  penalties  and
interest thereon) imposed upon the Real Property, and the Building and all other
improvements located on the Real Property (collectively,  the "Total Property"),
including without  limitation,  (a) any City, Town, County,  Village,  School or
other  local tax,  (b)  assessments  made upon or with  respect to any "air" and
"development"  rights now or hereafter  appurtenant  to or  affecting  the Total
Property,  (c) any fee, tax or charge imposed by any governmental  authority for
any vaults,  vault space or other space within or outside the  boundaries of the
Real Property,  and (d) any assessments  levied after the date of this Lease for
public benefits to the Total Property; provided, however, that if because of any
change in the  taxation of real  estate,  any other tax or  assessment,  however
denominated  (including,  without  limitation,  any franchise,  income,  profit,
sales, use,  occupancy,  gross receipts or rental tax), is imposed upon Owner or
the owner of the Total Property,  or the occupancy,  rents or income  therefrom,
whether in substitution for or in addition to any of the foregoing  Taxes,  such
other tax or assessment shall be deemed part of Taxes.  With respect to any "Tax
Year" (as such term is hereinafter defined), all expenses,  including attorney's
fees,  court costs and  disbursement  and  experts'  and other  witnesses'  fees
incurred in  contesting  the  validity  or amount of any Taxes or the  "Assessed
Valuation" (as such term is hereinafter  defined) of the Total  Property,  or in
obtaining a refund of Taxes,  shall be  considered as part of Taxes for such Tax
Year.

                                      -20-

<PAGE>

                    (2) "Assessed Valuation" shall mean the amount for which the
Total  Property is assessed  pursuant to  applicable  provisions of the New York
City  Charter  and of the  Administrative  Code of The  City of New York for the
purpose of imposition of Taxes.

                    (3) "Tax Year"  shall mean the twelve  (12) month  period of
July l through June 30 (or such other period as may hereafter be duly adopted by
The City of New York as its fiscal year for real estate tax purposes).

                    (4) "Base Tax Year"  shall mean the Tax Year  consisting  of
the twelve (12) month period of July l, l995 through June 30, l996.

                    (5)  "Tenant's  Proportionate  Share"  shall  mean three and
three tenths (3.3%) percent.

                    (6) "Comparison  Year" shall mean (a) with respect to Taxes,
any Tax Year subsequent to the Base Tax Year, and (b) with respect to "Operating
Costs" (as such term is hereinafter  defined),  any calendar year  subsequent to
1996  calendar  year,  ie.  the twelve  (12) month  period of January 1, 1996 to
December 31, 1996,  for any part or all of which there are  Additional  Charges,
payable as additional rent, pursuant to Sections B and C of this Article 47.

                    (7) "Operating Costs" shall mean:

                         (a)  all costs and expenses incurred or payable by
Owner in connection  with the operation,  maintenance,  repair and management of
the Real Property and/or the Building  and/or the Total Property,  respectively,
including,  without limitation, all maintenance costs, management fees (provided
the same are reasonably comparable to the fees charged for managing other office
buildings located in Mid-town Manhattan of similar size and quality),  costs for
steam,  electricity (other than electricity  furnished to and paid for by Tenant
and other tenants in the Building),  water, water rates, frontage charges, sewer
rents,  insurance,  fuel,  air-conditioning,  labor,  window and other cleaning,
sales tax and taxes of like import and other expenses of operation, maintenance,
repair and management of the Real Property  and/or the Building and/or the Total
Property,   respectively,   (including  the  equipment  located  therein),   but
specifically  excluding (i) leasing  commissions  to agents of Owner or to other
persons or  brokers,  (ii)  salaries  of  personnel  above the grade of Building
manager, (iii) the cost of capital improvements (except as specifically provided
in clause (b) hereof),  (iv) Taxes,  (v) interest and penalties for late payment
of water and sewer rents,  (vi) any expenses for which the Owner is  compensated
through  proceeds  of  insurance,  (vii)  the  cost  of any  tenant  changes  or
alterations,  (viii)  the cost of repair or  rebuilding  caused by fire or other
casualty or  condemnation,  (ix) advertising and promotional  expenditures,  (x)
legal  and  auditing  fees  other  than  reasonable   legal  and  auditing  fees
necessarily  incurred in connection with the operation of management of the Real
Property and/or the Building,  (xi) expenses of relocating or moving tenants and
of leasing to and processing new tenants,  including  lease  concessions,  (xii)
expenses resulting from any violations by the Owner of the terms of any lease in
the Building,  (xiii) depreciation  (except for the cost of capital improvements
as  specifically  provided  in clause (b)  hereof),  (xiv)  debt  service on any
mortgage,  including without  limitation,  the Existing Mortgage,  and (xv) rent
payable under any Superior Lease.

                         (b) If Owner shall purchase or lease any item of
capital equipment or make any capital  expenditure,  which is (i) required after
the  date  hereof  by law or  any  other  requirement  of  any  governmental  or
quasi-governmental  department,  authority  or  agency,  or by the Board of Fire
Underwriters or any successor or similar  organization  or by Owner's  insurance
carrier, or (ii) for the purpose of reducing Operating Costs (as, for example, a
labor-saving  improvement),  as the case may be,  then the cost of such  capital
equipment or expenditure shall be included in Operating Costs for the Comparison
Year in which  such cost was  incurred;  provided,  however,  that if and to the
extent such cost is required to be capitalized or amortized, as the case may be,
for federal income tax purposes, such cost shall be treated for purposes of this
Article 47 as if the same had been  capitalized  or amortized  over the shortest
useful life permitted pursuant to the Internal Revenue Code of 1986, as amended,
and the annual deduction, as if so capitalized or amortized, as the case may be,
together with interest thereon at the prime rate, as announced by Citibank, N.A.
from time to time,  shall be deemed an Operating  Cost in each of the Comparison
Years during which such cost would be amortized.

                         (c)  If, during all or part of any Year, Owner shall
not furnish any particular  item(s) of work or service which would constitute an
Operating  Cost  hereunder  to premises in the  Building as a result of the fact
that (i) such  premises  are not  occupied or leased,  (ii) such item of work or
service is not required or desired by the tenant occupying such premises,  (iii)
such tenant is itself  obtaining and providing such item or work or service,  or
(iv) for any other reason,  then Operating Costs for such period shall be deemed
to include an amount  equal to the  additional  costs and  expenses  which would
reasonably  have been incurred  during such period by Owner if it had at its own
expense  furnished such item of work or services to such portion of the Building
or to such tenant.

                                      -21-

<PAGE>

                    (8) "Base  Operating  Amount" shall mean the Operating Costs
for the 1996 calendar  year, ie. the twelve (12) month period of January 1, 1996
to December 31, 1996.

                    (9)  "Operating  Statement"  shall  mean  an  instrument  or
instruments  containing  a statement  of the  Additional  Charges,  constituting
additional rent, due and owing with respect to Operating Costs for the preceding
Comparison Year.

                    (l0) "Tax Statement" shall mean a statement  setting forth a
comparison of Taxes and the "Tax Payment" (as such term is hereinafter  defined)
due for a Tax Year.

                B. (l) If Taxes payable for any Comparison Year (any part or all
of which falls within the term of this Lease) shall increase above Taxes payable
for the Base Tax Year,  then  Tenant  shall  pay,  as  additional  rent for such
Comparison  Year,  an  amount  equal  to  Tenant's  Proportionate  Share of such
increase (such amount being is called the "Tax Payment"),  which amount shall be
payable as hereinafter provided.

                    (2) The Tax  Payment  shall be  payable  by  Tenant,  in its
entirety,  as  additional  rent,  within five (5) days after  Tenant  shall have
received a Tax Statement from Owner.  The Tax Payment shall be pro rated for any
portion of a Tax Year occurring  during the term of this Lease.  Owner's failure
to deliver a Tax  Statement to Tenant  during or with respect to any  Comparison
Year shall not prejudice Owner's right to demand such Tax Payment during or with
respect to any  subse-quent  Comparison  Year and shall not  eliminate or reduce
Tenant's  obligation to pay Additional  Charges, as additional rent, pursuant to
this Article 47 for such Comparison Year.

                    (3) If Owner shall  receive a refund of Taxes  applicable to
any  Comparison  Year for which a Tax  Payment  shall  have been made by Tenant,
Owner, at its option, shall either repay to Tenant, or credit against subsequent
payments of Additional Charges hereunder,  Tenant's  Proportionate Share of such
refund,  after deducting from the refund the costs and expenses of obtaining the
same (to the extent such costs and  expenses  were not  theretofore  included in
Taxes).

                    (4) If, after a Tax Statement  has been sent to Tenant,  the
Assessed  Valuation  which had been utilized in computing  Taxes during the Base
Tax Year is reduced (as a result of  settlement,  final  determination  of legal
proceedings  or otherwise)  then, in such event:  (a) the Taxes for the Base Tax
Year shall be  retroactively  adjusted to reflect  such  reduction,  and (b) all
retroactive  increases  in  additional  rent  resulting  from  such  retroactive
adjustment  shall be due and payable when billed by Owner.  Owner promptly shall
send to  Tenant a  statement  setting  forth  the  basis  for  such  retroactive
adjustment and additional rent payments.

                C. (1) If the Operating  Costs for any Comparison Year (any part
or all of which falls  within the term of this Lease) shall  increase  above the
Base  Operating  Amount,  then  Tenant  shall  pay as  additional  rent for such
Comparison Year an amount equal to Tenant's Proportionate Share of such increase
(such amount is called the "Operating  Payment"),  which amount shall be payable
as hereinafter provided.

                    (2) At any time  prior to or  during  any  Comparison  Year,
Owner may furnish to Tenant Owner's reasonable estimate (the "Owner's Estimate")
of the Operating Payment for such Comparison Year. If Owner furnishes an Owner's
Estimate to Tenant prior to the  commencement of a Comparison  Year, then on the
first day of each month during such  Comparison  Year Tenant shall pay to Owner,
as additional rent,  one-twelfth  (l/12th) of the amount of the Owner's Estimate
in equal monthly installments  together with payments of Fixed Rent. If, however
Owner furnishes a Owner's Estimate to Tenant subsequent to the commencement of a
Comparison  Year,  then (a) until the first day of the month following the month
in which Owner's Estimate is furnished to Tenant, Tenant shall pay as additional
rent  hereunder the amount which was payable  pursuant to this Section C for the
last month of the preceding  Comparison  Year,  (b) promptly  after such Owner's
Estimate is furnished to Tenant or together therewith, Owner shall notify Tenant
as to whether the installments of Tenant's Operating Payment previously made for
such Comparison were greater or less than the  installments  required to be made
in  accordance  with such Owner's  Estimate,  and (i) if there shall have been a
deficiency,  Tenant  shall pay the  amount  thereof  within  ten (10) days after
receipt of such notice,  or (ii) if there shall have been an overpayment,  Owner
shall  credit the amount  thereof  against  subsequent  payments  of  Additional
Charges hereunder,  and (c) on the first day of the month following the month in
which such Owner's  Estimate is furnished and continuing  monthly until the next
rendition to Tenant of Owner's  Estimate,  Tenant shall pay, as additional  rent
hereunder,  one-twelfth  (1/12th) of the amount of such Owner's Estimate.  Owner
may at any  time and from  time to time  furnish  to  Tenant a  revised  Owner's
Estimate for any Comparison Year, and in such case, Tenant's installments of the
Operating  Payment shall be adjusted and paid in the same manner as  hereinabove
provided.

                                      -22-

<PAGE>

                    (3) Within one hundred and  eighty-two  (182) days after the
end of each  Comparison  Year,  Owner  shall  furnish  to  Tenant  an  Operating
Statement for such Comparison  Year,  setting forth the Operating Costs for such
Comparison  Year.  If the Operating  Statement  shall show that the sums paid by
Tenant under subsection C (2) exceeded the Operating Payment required to be paid
by Tenant for such  Comparison  Year,  Owner shall  either  refund to Tenant the
amount of such excess forthwith after such Operating  Statement is furnished or,
at  Owner's  election,  credit  the  amount of such  excess  against  subsequent
payments of Additional  Charges  payable  hereunder.  Comparison Year shall show
that the sums so paid by Tenant were less than the Operating Payment required to
be paid by Tenant for such Comparison Year,  Tenant shall pay the amount of such
deficiency within ten (10) days after receipt of such Operating Statement.

                D.  Each  Tax  Statement  and  Operating   Statement   shall  be
conclusive  and binding  upon  Tenant  unless  within  sixty (60) days after the
receipt of such Tax Statement or Operating Statement, as the case may be, Tenant
shall notify  Owner that it disputes the  correctness  thereof,  specifying  the
particular  respects in which the Tax Statement or Operating  Statement,  as the
case may be, is  claimed to be  incorrect.  If such  dispute  is not  settled by
agreement,  either party may submit the dispute to  arbitration,  as provided in
Article 54 hereof,  within  ninety (90) days after receipt of said Tax Statement
or Operating  Statement.  Pending the determination of such dispute by agreement
or  arbitration  as  aforesaid,  Tenant  shall pay the  Additional  Charges,  as
additional rent, in accordance with Sections B and/or C, above, and such payment
shall be  without  prejudice  to  Tenant's  position.  If the  dispute  shall be
determined in Tenant's favor,  Owner shall forthwith pay to Tenant the amount of
Tenant's  overpayment of Additional  Charges  resulting from compliance with the
Operating  Statement.  Owner agrees to grant Tenant reasonable access to Owner's
books and records  for the  purpose of  verifying  Operating  Costs  incurred by
Owner.

                E. The  failure  of Tenant  to make any  payment  of  Additional
Charges,  as  additional  rent  pursuant  to this  Article  47,  or  payment  of
additional rent as elsewhere in this Lease provided,  shall entitle Owner to all
rights and remedies  provided  hereunder for the  non-payment of Fixed Rent, and
the acceptance of all or any portion of such additional rent or Fixed Rent shall
not be deemed a waiver of the  rights of Owner with  respect  to any  additional
rent or Fixed Rent payable pursuant to the terms of this Lease.

         48.  BROKER.  Tenant  represents  and  warrants  that  Tenant has dealt
directly  with (and only with) EDWARD S. GORDON  COMPANY  (the  "Broker") as the
sole broker and finder in  connection  with this Lease,  and that to the best of
Tenant's knowledge, no broker or finder, other than the Broker,  negotiated this
Lease or is entitled  to any  commission  in  connection  therewith  or with the
execution and delivery hereof. The execution and delivery of this Lease by Owner
shall  be  conclusive   evidence  that  Owner  has  relied  upon  the  foregoing
representation  and warranty of Tenant.  Tenant  hereby  agrees to indemnify and
hold  Owner  harmless  of and from any and all loss,  cost,  damage  of  expense
(including, without limitation, attorneys' fees, court costs and disburse-ments)
incurred  by Owner by reason of any claim of, or  liability  to,  any  broker or
finder,  other  than the  Broker,  resulting  from or caused by any  breach  (or
actions  constituting a breach) of the aforesaid  representation and warranty is
untrue.  Owner  shall  pay the  Broker  any  compensation  due and  owing  it in
accordance with the terms and provisions of a separate  agreement  between Owner
and Broker.  This provision shall survive the cancellation or expiration of this
Lease.

         49.  CONSENTS.  A. Wherever it is  specifically  provided in this Lease
that a party's  consent is not to be  unreasonably  withheld,  a  response  to a
request for such consent shall also not be unreasonably delayed. If either Owner
or Tenant  considers  that the  other has  unreasonably  withheld  or  delayed a
response,  it shall so notify the other party within ten (l0) days after receipt
of such response, or, in case such response is not received,  within twenty (20)
days after making its request for the response.

                B.  Tenant  hereby  waives any claim for damages  against  Owner
which it may have based upon any assertion that Owner has unreasonably  withheld
or unreasonably delayed any such consent.  Tenant agrees that its sole remedy in
any such case shall be an action or proceeding to enforce the relevant provision
of this Lease by specific performance, injunction or declaratory judgment.

                                      -23-

<PAGE>

                C.  Notwithstanding  anything to the  contrary  provided in this
Lease,  in any instance  where the consent of the lessor under a Superior  Lease
and/or the holder of a Mortgage,  including  the  Existing  Mortgagee  under the
Existing  Mortgage,  respectively,  is required,  Owner shall not be required to
give its consent until and unless such lessee or holder,  including the Existing
Mortgagee,  has given its  consent.  Owner  agrees to seek the  consent  of such
lessor and/or holder, including the Existing Mortgagee, if Owner would otherwise
consent in such instance.

         50. PARTNERSHIP  TENANT. If Tenant is a partnership (or is comprised of
two (2) or more persons, individually and as co-partners of a partnership) or if
Tenant's  interest in this Lease shall be assigned to a  partnership  (or to two
(2) or more persons,  individually and as co-partners of a partnership) pursuant
to Article 42 (any such partnership and such persons are called, in this Article
50, the  "Partnership  Tenant"),  the following  provisions  shall apply to such
Partnership  Tenant:  (A)  the  liability  of  each  of the  parties  comprising
Partnership  Tenant  shall  be  joint  and  several,  (B)  each  of the  parties
comprising  Partnership  Tenant hereby  consents in advance to, and agrees to be
bound by (1) any written  instrument which may hereafter be executed,  changing,
modifying or discharging this Lease, in whole or in part, or surrendering all or
any part of the demised premises to Owner, (2) any notices, demands, requests or
other  communications  which may hereafter be given by Partner-ship Tenant or by
any of the parties comprising Partnership Tenant, and (3) any bills, statements,
notices,  demands,  requests  or  other  communications  given  or  rendered  to
Partnership Tenant or any of the parties comprising  Partnership  Tenant, (C) if
Partnership Tenant shall admit new partners,  all of such new partners shall, by
their admission to Partnership  Tenant, be deemed to have assumed performance of
all of the terms,  covenants and conditions of this Lease on Tenant's part to be
observed and performed,  and (D) Partnership  Tenant shall give prompt notice to
Owner of the  admission of any such new partners,  and upon demand Owner,  shall
cause each such new  partner to execute and  deliver to Owner an  agreement,  in
form  satisfactory  to  Owner,  wherein  each  such  new  partner  shall  assume
performance of all the terms, covenants and conditions of this Lease on Tenant's
part to be observed and performed  (but neither  Owner's  failure to request any
such agreement nor the failure of any such new partner to execute or deliver any
such  agreement to Owner shall vitiate the provisions of Sections A, B, and C of
this Article 50).

         5l.  PARTIES BOUND.  A. This Lease is offered for signature by Tenant
and it is understood  that this Lease shall not be (1) binding upon Owner unless
and until Owner shall have executed and delivered a fully  executed copy of this
Lease to Tenant, and (2) deemed in full force and in effect unless and until the
Effective Date shall have occurred.

                B. If more than one person  executes this Lease as Tenant,  each
of them understands and hereby agrees that the obligations of each of them under
this Lease are and shall be joint and several, that the term "Tenant" as used in
this Lease shall mean and include each of them jointly and  severally,  and that
the act of or notice from,  or notice or refund to, or the signature of, any one
or more of them,  with respect to the tenancy of this Lease  (including  without
limitation, any renewal, extension,  expiration,  termination or modification of
this Lease)  shall be binding  upon each and all of the persons  executing  this
Lease as  Tenant,  with the same force and effect as if each and all of them had
so acted or so given or received such notice or refund or so signed.

         52. TENANT'S AND OWNER'S  CERTIFICATE.  A. From time to time during the
Term,  within  seven (7) days  following  receipt by Tenant of  Owner's  request
therefor, Tenant shall: (1) deliver to Owner or its designee, which may include,
but not be limited to, a purchaser of the Building and/or the Real Property, the
holder of a Mortgage or the lessor  under a Superior  Lease  encumbering  and/or
covering any or all of the above,  respectively,  as the case may be, at no cost
or expense to Owner, a written statement executed and acknowledged by Tenant, in
form  satisfactory  to Owner:  (a) stating that this Lease is then in full force
and effect and has not been  modified  (or if modified,  setting  forth all such
modifications);  (b) setting forth the date to which the Fixed Rent,  additional
rent and other charges hereunder have been paid, together with the amount of the
monthly  Fixed  Rent then  payable;  (c)  stating  whether  or not,  to the best
knowledge  of  Tenant,  Owner is in default  hereunder,  and  setting  forth the
specific  nature of all such  defaults,  if any;  (d)  stating the amount of the
security  deposit,  if any, under this Lease;  (e) stating whether there are any
subleases  affecting the Premises;  (f) stating the address to which all notices
and  communications  to Tenant  under the Lease are to be sent;  (g) stating the
Commencement Date, Rent Commencement Date and the Expiration Date of this Lease,
respectively,  as the case may be; and (h) any other matters requested by Owner;
and (2) complete, as required, execute and deliver to the Existing Mortgagee, an
estoppel  certificate  in the form annexed to this Lease as Exhibit D and made a
part hereof.

                                      -24-

<PAGE>

                B. From time to time, within seven (7) days following receipt by
Owner of Tenant's request  therefor,  Owner shall delivery to Tenant, at no cost
or expense to Tenant, a written statement executed and acknowledged by Owner, in
form reasonably  satisfactory to Tenant,  (1) stating that this Lease is then in
full force and effect and has not been  modified (or if modified,  setting forth
all such  modifications,  (2)  setting  forth the date to which the Fixed  Rent,
Additional Rent and the charges hereunder have been paid, (3) stating whether or
not, to the best knowledge of Owner, Tenant is in default hereunder, and setting
forth the  specific  nature  of all such  defaults,  and (4) any  other  matters
reasonably requested by Tenant.

                C.  Tenant  acknowledges  that  any  statement  and/or  estoppel
certificate delivered pursuant to this Article 52, respectively, as the case may
be,  may be relied  upon by any  purchaser  or owner of the Real  Property,  the
Building  and/or the Total Property,  or Owner's  interest in the Real Property,
the Building  and/or the Total Property  and/or any Superior  Lease  encumbering
and/or  covering  any or  all of the  above,  or by any  holder  of a  Mortgage,
including the Existing Mortgagee under the Existing  Mortgage,  or by any lessor
under any Superior Lease encumbering and/or covering any or all of the above, or
by any assignee of any holder of a Mortgage, respectively, as the case may be.

         53. EXCULPATION AND  NON-LIABILITY.  A. No recourse shall be had on any
of Owner's obligations hereunder against any incorporator, subscriber of capital
stock,  stockholder,  officer or  director,  past,  present  or  future,  of any
corporation,  or against any general or limited  partner of any  partnership  or
joint  venture  which shall be Owner  hereunder,  or other holders of any equity
interest in such corporation, partnership or joint venture, or the shareholders,
directors  or  officers  of  such  partners,  or the  partners  comprising  such
partners,  or of any  successor of any such  corporation,  partnership  or joint
venture,  or  against  any  principal  of  any of the  foregoing,  disclosed  or
undisclosed,  or any  affiliate of any party which shall be Owner or included in
the term  "Owner",  whether  directly or through  Owner or through any receiver,
assignee, trustee in bankruptcy or through any other person, firm or corporation
(collectively, the "Parties") whether by virtue or any constitution,  statute or
rule of law or by enforcement of any assessment or penalty  otherwise,  it being
expressly  understood  and agreed  that  Tenant  shall  look  solely to Owner to
enforce Owner's obligations hereunder and shall not seek any damages against any
of the Parties.  The liability of Owner for Owner's obligations under this Lease
shall not exceed and shall be limited to Owner's  interest in the Real  Property
and Tenant shall not look to other  property or assets of Owner or of any of the
Parties in seeking either to enforce Owner's  obligations under this Lease or to
satisfy a judgment for Owner's failure to perform such obligations.

                B.  Further,  neither  Owner,  nor any of the  Parties,  nor any
lessor  under a  Superior  Lease nor any  holder of a  Mortgage,  including  the
Existing  Mortgagee  under the Existing  Mortgage,  nor any  partner,  director,
officer, shareholder, principal, agent, servant or employee of such lessor under
a  Superior  Lease  or any  holder  of such  Mortgage,  including  the  Existing
Mortgagee  under the  Existing  Mortgage  (in any  case,  whether  disclosed  or
undisclosed), shall be liable to Tenant for any loss, injury or damage to Tenant
or to any  other  person,  or to its or  their  property,  irrespective  of such
injury,  damage  loss,  nor shall any of the  aforesaid  entities  or Parties be
liable for any damage to property of Tenant or of others entrusted Owner nor for
loss of or damage to any such  property  by theft or  negligence  of Owner,  its
agents,  servants  or  employees,  or any of the  Parties  in the  operation  or
maintenance of the premises,  the Building,  the Real Property  and/or the Total
Property,  respectively,  without contributory negligence of the party of Tenant
or any of its  subtenants  or  licensees  or  its or  their  respective  agents,
contractors or employees.

                C. In addition,  neither  Owner nor any of the Parties,  nor any
lessor  under a  Superior  Lease nor any  holder of a  Mortgage,  including  the
Existing  Mortgagee  under the Existing  Mortgage,  nor any  partner,  director,
officer,  agent,  servant  or  employee  of Owner or any such  lessor or holder,
including  the Existing  Mortgagee,  respectively,  shall be liable for any such
damage caused by other  tenant's or persons in, upon or about the Building,  the
Real Property and/or the Total Property,  respectively,  or caused by operations
in  construction  of any  private,  public  or  quasi-public  work;  or  even if
negligent,  for  consequential  damages  arising  out of any  loss of use of the
premises or any equipment or facilities therein by Tenant or any person claiming
by, through or under Tenant.

         54.  ARBITRATION.  A. Either party may request arbitration in
accordance  with this  Article  54 of any  provision  of this  Lease in  dispute
wherein  arbitration is expressly  stated in such  provision as the  appropriate
remedy for such dispute. The party requesting arbitration shall do so

                                      -25-

<PAGE>

by giving  notice to that effect to the other party,  specifying  in said notice
the name and address of the person  designated  to act as an  arbitrator  on its
behalf.  Within  fifteen (l5) days after the service of such  notice,  the other
party shall give notice to the first  party  specifying  the name and address of
the person designated to act as an arbitrator on its behalf. If the second party
fails to notify the first party of the appointment of its arbitrator  within the
aforesaid  time  period,  then  subject to the  provisions  of Section B of this
Article 54, the appointment of the second  arbitrator  shall be made in the same
manner as hereinafter  provided for the  appointment of a third  arbitrator in a
case where the two arbitrators appointed hereunder and the parties are unable to
agree upon such appointment. The two arbitrators so chosen shall meet within ten
(l0) days after the second  arbitrator  is  appointed,  and shall  conduct  such
hearings and investigations as they may deem appropriate.  If within thirty (30)
days after the second  arbitrator is appointed,  the two  arbitrators  shall not
agree  upon the  question  in  dispute,  they  shall  together  appoint  a third
arbitrator.  In the  event the two  arbitrators  are  unable to agree  upon such
appointment  within  forty  (40)  days  after  the  appointment  of  the  second
arbitrator,  the third arbitrator shall be selected by the parties themselves if
they can agree to such  selection  within a further  period of ten (l0) days. If
the parties do not so agree,  then either party, on behalf of both and on notice
to  the  other,  may  request  such  appointment  by  the  American  Arbitration
Association  (or any  successor  organization  thereto) in  accordance  with its
commercial  arbitration  rules then prevailing,  or if the American  Arbitration
Association  (or such successor  organization)  shall fail to appoint said third
arbitrator  within  fifteen  (l5) days after such  request is made,  then either
party may apply,  on notice to the other,  to the Supreme  Court of the State of
New York (or any  other  court  having  jurisdiction  and  exercising  functions
similar to those now exercised by said court) for the  appointment of such third
arbitrator.  The third arbitrator shall conduct such hearings and investigations
as he may deem  appropriate  and,  within thirty (30) days of this  designation,
render an independent decision of the matter in dispute, which decision shall be
con-clusive and binding upon the parties.  Each  arbitrator  chosen or appointed
pursuant to this Article 54 shall be a disinterested  person having at least ten
(l0) years experience as an arbitrator in the City of New York.

                B. If Tenant gives notice requesting  arbitration,  Tenant shall
simultaneously  serve a  duplicate  of the first  notice  on the  holder of each
Mortgage  (including the Existing Mortgagee under the Existing Mortgage,  at its
address as set forth in Section 39 F of this  Lease),  and each lessor under any
Superior Lease. If Owner fails to appoint an arbitrator within fifteen (l5) days
after the  giving of the first  notice by Tenant,  such  holder,  including  the
Existing  Mortgagee,  or lessor shall have an additional period of ten (l0) days
within which to appoint the second arbitrator, who shall thereupon be recognized
in all respects as if he had been appointed by Owner.

                C. The arbitration shall be conducted,  to the extent consistent
with this Article 54, in the City and County of New York in accordance  with the
commercial  arbitration  rules  then  prevailing  of  the  American  Arbitration
Association (or any successor organization  thereto).  Such decision shall be in
writing  and  counterpart  copies  thereof  shall  be  delivered  to each of the
parties.  In rendering such decision and award, the arbitrator(s)  shall not add
to, subtract from, or otherwise modify the provisions of this Lease.

                D. If for any reason  whatsoever the written  decision and award
of the arbitrator(s)  shall not be rendered within the time periods specified in
this  Article 54,  then at any time  thereafter,  either  party may apply to the
Supreme  Court  of  the  State  of  New  York,  or to  any  other  court  having
jurisdiction and exercising the functions similar to those now exercised by such
Court,  by  action,  proceeding,  or  otherwise  (but  not by a new  arbitration
proceeding)  as may be proper to determine the question in dispute  consistently
with the provisions of this Lease.

                E. Each party shall pay the fees and expenses of the  arbitrator
appointed by or for such party.  The fees and  expenses of the third  arbitrator
(if appointed),  and all other expenses of the arbitration shall be borne by the
parties equally.

                F.  Notwithstanding  anything to the contrary  contained in this
Lease,  wherever  submission to the New York office of the American  Arbitration
Association is designated as the method of resolving disputes arising hereunder,
the  method  for  the  resolution  of  such  dispute  shall  be  deemed  to mean
arbitration in accordance with the provisions of this Article 54.

                                      -26-

<PAGE>

         55.  MISCELLANEOUS.  A. On the date of execution of this Lease and from
time to time,  either  within  seven (7) days  next  following  Owner's  request
therefor, or immediately after any change or modification thereof,  Tenant shall
deliver to Owner a written statement, executed and acknowledged by Tenant and in
form satisfactory to Owner, setting forth (1) the names, percentage of ownership
interest and residence and business address of (a) any incorporator,  subscriber
of capital stock,  shareholder,  officer and director of any  corporation  which
shall be Tenant  hereunder or a general or limited partner of Tenant  hereunder,
and/or (b) any general or limited  partner of any  partnership  or joint venture
which  shall be  Tenant  hereunder,  and (c) any  other  holders  of any  equity
interest in such corporation,  partnership or joint venture,  and (2) such other
information as Owner may reasonably request; provided,  however, in satisfaction
of this Paragraph, as long as Tenant continues to be a corporation, the stock of
which is publicly traded through any recognized  national securities exchange or
the "over the counter  market",  Tenant may delivery to Owner its most  recently
filed proxy statement with the United Sates Securities and Exchange  Commissions
and a statement,  executed and acknowledged by Tenant as to any material changes
in the information sought hereunder from that contained in the proxy statement.

                B. As a further  inducement  to Owner to enter  into this  Lease
with Tenant,  Tenant  hereby agrees that with respect to the service of a notice
of petition or petition  upon  Tenant by Owner in any  proceeding  commenced  by
Owner against Tenant under the Real Property  Actions and Proceedings Law of the
State of New York,  service of such  notice of  petition or petition in any such
proceeding  shall be  effective  if made upon  Tenant at the  demised  premises,
irrespective  of the fact that Tenant's  principal  office or principal place of
business,  or any other  office or place of  business  of Tenant is located at a
place other than the demised premises.

                C. This Lease shall be deemed to have been  jointly  prepared by
both of the parties hereto,  and any ambiguities or  uncertainties  herein shall
not be construed for or against either of them.

                D. In and to the extent  that there is a  conflict  between  the
provisions  contained in the printed portion of the Lease to which this Rider is
attached  and the  provisions  contained  in this  Rider,  then  the  provisions
contained in this Rider shall govern and be controlling to the extent  necessary
to resolve such conflict.

                E.  All references to "Owner" shall mean "Owner", as such term
is defined in Article 31 hereof.

                F. In no event  may  Tenant  record  this  Lease  or  memorandum
thereof, and any such recordation shall be deemed a material breach of the terms
and provisions hereof.

                G. If any  provisions of this Lease or portion of such provision
or the application  thereof to any person or circumstance is for any reason held
invalid or unenforceable, the remainder of the Lease (including the remainder of
such  provisions)  and the application  thereof to the persons or  circumstances
shall not be affected thereby.

                H. This Lease shall be governed and construed in accordance with
the laws of the State of New York,  without  giving effect to the  principles of
conflicts of laws.

                I. If Tenant is a corporation,  each person executing this Lease
on behalf of Tenant hereby  covenants,  represents  and warrant that Tenant is a
duly incorporated or duly qualified corporation and is authorized to do business
in the State of New York, and that each person executing this Lease on behalf of
Tenant  is an  officer  of Tenant  and that he is duly  authorized  to  execute,
acknowledge and deliver this Lease to Owner.

         56.  BUILDING'S  ELECTRONIC  DIRECTORY.  Owner,  at its  expense and at
Tenant's written request,  shall maintain listings on the Building's  electronic
directory  of the names of Tenant  and any  others  in lawful  occupancy  of the
demised  premises,  and the names of their  respective  officers and  employees,
provided that the names so listed shall not take up more than Tenant's

                                      -27-

<PAGE>

Proportionate Share of the space on the Building's  electronic  directory.  Such
quantity of listing lines shall initially be at Owner's expense,  but any excess
listings,  if permitted by Owner, or any subsequent changes of listings,  as the
case may be,  shall be at Tenant's  expense,  at Owner's  then  standard  charge
therefor.  All  listings  requested  shall be  generally  consistent  with  then
Building standard practice.

         57.  CHANGES IN BUILDING FACILITIES, NAME:  A.  Owner reserves the
right, without incurring any liability to Tenant therefore, to make such changes
in or to the Building and the fixtures and equipment  thereof,  as well as in or
to the street entrances,  halls, passages,  elevators,  escalators and stairways
thereof,  as it may deem  necessary or desirable;  provided,  however,  that the
changes do not materially or adversely  affect  Tenant's access to or use of the
demised premises.

                B.  Owner may adopt any name for the Building.  Owner reserves
the right to change the name or address of the Building at any time during the
term of this Lease.

         58.  LOCAL  LAW 5  COMPLIANCE.  A. (1) In the  event  Tenant's  use and
occupancy of the demised premises requires that certain Building personnel be on
duty in compliance  with the  requirements of Local Law 5, after normal Building
hours,  which for this  purpose  shall be deemed to be 8:00 A.M. to 6:00 P.M. on
business days (as defined in Article 31) only,  Tenant  agrees,  at its own cost
and expense,  to reimburse Owner for Owner's fees,  costs and expenses in having
such Building personnel  available to Tenant so that Tenant can comply with such
requirements of Local Law 5, provided,  however, Tenant shall not be required to
reimburse  Owner unless at least fifty (50) persons are in the demised  premises
after normal Building hours.

                    (2) If, at the time that Tenant  requires that the aforesaid
Building  personnel  be  available  to Tenant so that Tenant can comply with the
requirements  of Local Law 5, other  tenant(s) in the Building also require that
such  Building  personnel be available to them so that they can likewise  comply
with such Local 5 requirements,  Owner hereby agrees that the costs and expenses
of having such personnel available to Tenant and such other tenant(s),  in order
for  each  of  them  to  meet  the   requirements  of  Local  Law  5,  shall  be
proportionately and equitably pro-rated, apportioned and shared among Tenant and
such other tenant(s).

                B. It is understood that in connection with compartmentalization
or  other  provisions  of  Local  Law 5, or New York  City  Building  Department
regulations,  Owner may find it  necessary to make  certain  alterations  in the
ducting above, or in the  configuration  thickness of the demising walls.  Owner
shall have the right to enter upon the  premises for this purpose if, in Owner's
sole judgement,  it may become necessary and Tenant shall cooperate with Owner's
reasonably  expeditious  completion of such work by permitting  Owner's  workmen
access to the area immediately  contiguous to such ducting and/or demising wall.
Owner shall take reasonable steps to minimize  interference  with the conduct of
Tenant's business at the demised premises during any work conducted  pursuant to
this Section.

         59.    RESTRICTIONS ON USE.  A.  Tenant shall not use or occupy or
permit or suffer the premises to be used or occupied for any purposes other than
the Permitted Uses set forth in Article 2 of this Lease.

In addition,  Tenant shall not use the Premises,  or any portion thereof, in any
manner which, in Owner's judgment, will: (1) materially adversely affect (a) the
appearance,  character, reputation or first-class nature of the Building, or (b)
the proper or economic  condition of services to other  tenants in the Building,
or (c) the use and  enjoyment of any other  portion of the Building by any other
tenant(s),  or (d) the proper and economic functioning of any Building services,
facilities,  systems  or  equipment,  or (e)  Owner's  ability  to  obtain  from
reputable  insurance  companies  authorized to do business in New York, all risk
property insurance or liability, elevator, boiler or other insurance at standard
rates  required to be furnished  by Owner under the terms of any Superior  Lease
and/or  Mortgage  covering the Real Property;  (2) violate any  requirements  of
legal  authorities or insurance  bodies or the  certificate of occupancy for the
Building  and/or the Premises;  and (3) be in violation of any of the Restricted
Uses as are set forth and defined below.

                                      -28-

<PAGE>

                B. Tenant  shall not use or permit the use of the  Premises,  or
any part  thereof for the  following  uses and/or  purposes  (collectively,  the
"Restricted  Uses"):  (1)  for  the  business  of  photographic,   multilith  or
multigraph  reproductions or offset printing; (2) for manufacturing of any kind;
(3) as a  restaurant  or  bar  or for  the  sale  of  confectionery,  beverages,
sandwiches,  ice  cream or baked  goods or for the  preparation,  dispensing  or
consumption of food or beverages in any manner whatsoever except, however, as is
expressly  permitted as part of Permitted Uses; (4) as a bank or other financial
services  office;  (5) as an  employment or travel  agency,  labor union office,
physician's,  dentist's,  medical  or  psychiatric  office,  medical  or  dental
laboratory,  dance or  music  studio,  or  health  club or  sports  or  exercise
facility;  (6) as a barber shop or beauty  salon;  (7) for the direct  sale,  at
retail or  otherwise,  of any  goods or  products  of any sort or kind,  except,
however,  for those goods and products which are included  within and as part of
Permitted   Uses;  (8)  by  any   governmental   body,   agency,   authority  or
instrumentality,    or   by   any   foreign   or   domestic    governmental   or
quasi-governmental  entity  entitled,  directly or indirectly,  to diplomatic or
sovereign  immunity  or not  subject  to the  service  of  process  in,  and the
jurisdiction  of the  courts  of the  State  of New  York;  (9) for the  sale of
traveler's checks and/or foreign  exchange;  (10) for the conduct of an auction;
(11) for  gambling  activities;  (12) for the conduct of obscene,  pornographic,
similar  or any  other  disreputable  activities  or for the  sale  of  obscene,
pornographic  or similar books,  magazines,  periodicals or other  literature or
materials, as determined by Landlord in its sole judgment; or (13) by or for any
charitable,   religious  or  other  not-for-profit   organization's  activities.
Notwithstanding  anything  contained herein to the contrary,  Owner acknowledges
that Tenant is using the premises for the  broadcast of WXRK,  and that Tenant's
use for that purpose or any similar  radio  broadcasting  purposes  shall not be
deemed a violation of this Paragraph 59 B.

                C.  Notwithstanding  anything to the contrary  contained in this
Lease,  Tenant agrees that if, in its  stationery,  correspondence,  literature,
brochure, publicity,  advertising,  reports or listings, Tenant uses the name of
the Building along or in conjunction with the street number of the Building,  it
will use the following  designation,  "SQUIBB  BEECH-NUT  BUILDING",  or "SQUIBB
BUILDING" and will not use any abbreviation or contraction thereof.  Further, if
Tenant is engaged in a business which is in competition with "Squibb  Beech-Nut,
Inc.", or the  "Bristol-Meyers  Squibb  Company",  Tenant shall not use the name
"SQUIBB  BEECH-NUT  BUILDING",  or "SQUIBB  BUILDING",  or any  abbreviation  or
contraction  thereof  in  any  of its  stationery,  correspondence,  literature,
brochure, publicity, advertising, reports or listings.

         60.  CONDITION OF THE DEMISED  PREMISES.  A. Tenant  acknowledges  that
Tenant accepts the demised premises "As Is" without any requirements, liability,
covenants,  agreements or  obligations on the part of Landlord to do, perform or
pay for any  construction,  installation,  repair,  replacement or other work in
connection with Tenant's initial occupancy of the demised  premises.  The taking
of possession of the demised premises by Tenant shall be conclusive evidence, as
against  Tenant,  that  Tenant  accepts  the same  "As Is" and that the  demised
premises  was in good and  satisfactory  condition  at the time  possession  was
taken.

                B. Tenant agrees that in executing this Lease, it has not relied
upon  any  statements,  representations,  covenants  or  warranties  made by the
Landlord or any person acting on or behalf of Landlord other than those, if any,
expressly set forth in this Lease and on such  investigations,  examinations and
inspections as Tenant has chosen to make or has made.

                                      -29-

<PAGE>

                                 E X H I B I T A

                           FLOOR PLAN FOR THE PREMISES

<PAGE>

                                 E X H I B I T B

                               FIXED RENT SCHEDULE

         RENTAL PERIOD                                      FIXED RENTAL AMOUNT

For the period commencing on the Commencement        $616,000.00 per annum,
Date to and including December 31, 1999              payable $51,333.33 monthly;

For the period commencing on January 1, 2000         $660,000.00 per annum,
to and including December 31, 2004               payable $55,000.00 monthly; and

For the period commencing on January 1, 2005              $748,000.00 per annum,
to and including the Expiration Date of the Lease.   payable $62,333.33 monthly.

<PAGE>

                                 E X H I B I T C

                   EXISTING MORTGAGEE'S FORM OF SUBORDINATION,
                    ATTORNMENT AND NON-DISTURBANCE AGREEMENT

<PAGE>

                                 E X H I B I T D

                            EXISTING MORTGAGEE'S FORM
                         OF TENANT ESTOPPEL CERTIFICATE

<PAGE>

<PAGE>

20808176.5

                  AGREEMENT  OF  SUBLEASE,  dated  as of the 9th day of  August,
1999, by and between Infinity Broadcasting  Corporation,  having an office at 40
West 57th  Street,  New York,  New York 10019  (hereinafter  referred  to as the
"Landlord")  and Westwood  One Radio  Networks,  Inc.,  having an office at 1675
Broadway,  17th  Floor,  New York,  New York,  (hereinafter  referred  to as the
"Tenant").

                               W I T N E S S E T H

                  WHEREAS,  Lefrak-SBN  Associates,  predecessor  to Lefrak  SBN
Limited  Partnership  (hereinafter "Prime Landlord") and Landlord entered into a
Lease dated March 15, 1996, (as  subsequently  amended,  the "Prime Lease") with
respect to certain  premises,  including  a portion  of the 15th  floor,  in the
building located at 40 West 57th Street, New York, New York.

                  WHEREAS,  Prime  Landlord  and  CBS,  Inc.,then  successor  to
Landlord,  entered into a Second  Amendment  of Lease dated as of September  30,
1998 demising additional space on the 15th floor;

                  WHEREAS,  a copy of the  Prime  Lease  has been  delivered  to
Tenant and Tenant,  by its execution hereof,  acknowledges  receipt of the Prime
Lease.

                  WHEREAS,  Landlord,  as  successor  to CBS,  Inc.,  desires to
sublet to Tenant,  and Tenant  desires to sublet from  Landlord,  the 15th floor
portion  (hereinafter,  the "Demised  Premises") more particularly  described on
Exhibit A attached  hereto and made a part hereof under the terms and conditions
hereinafter set forth.

                  NOW,  THEREFORE,  for and in consideration of the premises and
other valuable consideration,  rental payments to be made hereunder by Tenant as
hereinafter set forth, Landlord and Tenant agree as follows:

                  1.  Subleasing  of  the  Demised  Premises.   Landlord  hereby
subleases  and demises to Tenant,  and Tenant  hereby  subleases  and hires from
Landlord,  the Demised  Premises,  which for purposes of this Sublease  shall be
deemed to consist of 16,922  rentable square feet, upon and subject to the terms
and conditions hereinafter set forth.

<PAGE>

                  2. Term. The term (the "Term") of this Sublease shall commence
on the date hereof  (the  "Commencement  Date") and shall  expire at midnight on
February 28, 2012,  which is one day prior to the  expiration of the term of the
Prime Lease, unless sooner terminated as provided herein or pursuant to law (the
"Expiration Date").

                  3.  Base  Rent.  Tenant  hereby  covenants  and  agrees to pay
Landlord  during the Term base rent (the "Base Rent") as set forth on Schedule A
attached hereto, in equal monthly  installments payable on the first day of each
month during the term of the Lease, commencing on the Commencement Date, without
notice or demand  and  without  abatement,  set-off or  deduction  of any amount
whatsoever.  If the Commencement  Date occurs or this Sublease  terminates other
than on the first day of a month,  the Base Rent and Additional Rent, if any (as
defined below) payable hereunder shall be appropriately prorated for such month.

                  4.  Electricity.  Tenant  shall pay to Landlord  the same
amount paid by Landlord to Prime  Landlord for  electricity  consumption  in the
Demised Premises in accordance with the Prime Lease.

                  5.  Additional   Rent.  In  addition  to  the  Base  Rent  and
electricity  charges  specified  above,  Tenant shall pay Landlord as additional
rent (the "Additional Rent") all sums which Landlord is required to pay to Prime
Landlord  with  respect to the Demised  Premises by reason of all  increases  in
Taxes and Operating  Costs (as such terms are defined in Article 47 of the Prime
Lease).

                  After receipt from Prime  Landlord of an Escalation  Statement
(the  "Statement"),  Landlord  shall send to Tenant a copy of the  Statement and
prepare  a  voucher  indicating  the  escalated  amounts  due  pursuant  to  the
provisions hereof. So long as Tenant has received the Statement and voucher in a
timely manner, then Additional Rent payments shall be made by Tenant to Landlord
not less than three days prior to the date upon which  Landlord  is  required to
make such  payments  to Prime  Landlord.  Payments of  Additional  Rent shall be
prorated  equitably  for any period of less than one full year  occurring at the
respective commencement and expiration or termination of the Term.

<PAGE>

                  6.  Subordination  to and  Incorporation of the Prime Lease a.
This  Sublease  shall be expressly  subject and  subordinate  to and does hereby
incorporate  all of the terms,  covenants and conditions  contained in the Prime
Lease,  except for any term, covenant or condition to the extent relating to the
14th floor, the Fixed Rent and such other terms, covenants and conditions as are
not  relevant or  applicable  or are  specifically  inconsistent  with the terms
hereof.  Tenant covenants and agrees not to violate any of the terms,  covenants
and conditions  contained in the Prime Lease.  Wherever the term "Tenant" occurs
in the Prime Lease the same shall be deemed to refer to Tenant  herein,  and the
term  "Landlord"  as used  therein  shall  refer to Landlord  herein,  except as
otherwise provided in this document.

                  b.  Landlord  does not assume any  obligation  to perform  the
terms,  covenants  and  conditions  contained  in the Prime Lease on the part of
Prime Landlord to be performed,  and in the event that the Prime Landlord should
fail to perform any of the terms,  covenants  and  conditions  contained  in the
Prime  Lease,  Landlord  shall,  if so requested by Tenant and at the expense of
Tenant,  use its  reasonable  efforts to cause the Prime Landlord to perform its
obligations  under the Prime Lease,  provided that in no event shall Landlord be
required to commence a lawsuit  against  Prime  Landlord.  Tenant shall have the
right,  in its own name, to request  performance of obligations  required of the
Prime  Landlord  and to conduct  such  proceedings  as may be required to obtain
performance  of  such  obligations.   Copies  of  all  such  requests  shall  be
simultaneously  delivered to Landlord  together with responses  thereto of Prime
Landlord.  Landlord  agrees to  reasonably  cooperate  with Tenant in connection
therewith.  In any event,  except as otherwise  provided in the Prime Lease (and
then only to the extent that  Landlord  receives the same from Prime  Landlord),
Tenant  shall not be allowed  any  abatement  or  diminution  of rent under this
Sublease  because  of the  failure  of  Prime  Landlord  to  perform  any of its
obligations.

                  c. (1) Tenant and Landlord  covenant and agree with each other
that each shall not do anything that would  constitute a default under the Prime
Lease or omit to do  anything  that each is  obligated  to do under the terms of
this Sublease so as to cause there to be a default under the Prime Lease.

<PAGE>

                      (2) The time  limits set forth in the Prime  Lease for the
giving of notices or the  performance  of any act by Tenant are  changed for the
purpose of this Sublease, by shortening the same in each instance by three days,
so that  notices  may be given or any act  performed  by Tenant  within the time
limit relating thereto  contained in the Prime Lease,  provided,  however,  that
Tenant shall have at least one business day to comply or perform unless Landlord
has less than one business day to comply or perform.  Landlord  shall,  no later
than three business days after receipt thereof,  deliver to Tenant copies of all
notices, requests or demands or other communications which relate to the Demised
Premises  or the use or  occupancy  thereof  after  receipt  of same from  Prime
Landlord. Tenant shall, no later than three business days after receipt thereof,
deliver to  Landlord  copies of all  notices,  requests  or demands  received by
Tenant from Prime Landlord.

                  d. In any  case  where  Prime  Landlord  reserves  a right  or
disclaims any  liability  under the Prime Lease,  the right or disclaimer  shall
inure to the benefit of Landlord as well as to Prime Landlord,  and any right or
disclaimer  inuring to Landlord as tenant  under the Prime Lease shall  likewise
inure to the benefit of Tenant.

                  e. Tenant shall make its own arrangements  with Prime Landlord
for additional  services  under the terms of the Prime Lease,  and Tenant agrees
that it shall  have the sole  obligation  to pay for such  additional  services.
Landlord shall  cooperate  with Tenant as reasonably  required in obtaining such
additional services, at no cost to Landlord.

                  7.       Use.  Tenant shall use and occupy the Demised
Premises  for the same  purposes as Landlord is permitted to do pursuant to the
Prime Lease.

                  8.  Condition of Demised  Premises.  Tenant has  inspected the
Demised  Premises  and agrees to accept the same in "as is"  condition as of the
date hereof.  Landlord shall not now or at any time in the future be required to
make any expenditures  whatsoever with respect to the Demised  Premises.  Tenant
shall remove  Tenant's own personal  property at the  expiration  of the Term in
accordance with the requirements of the Prime Lease and shall be responsible for
complying  with the  provisions of the Prime Lease at the expiration of the Term
of this Sublease.

<PAGE>

                  9. Tenant  Alterations.  Tenant has  submitted to Landlord and
Prime Landlord for their respective  approval its plans and  specifications  for
improvements to be made to prepare for Tenant's occupancy.  Prior to engaging in
any additional improvements or work to the Demised Premises, Tenant shall comply
with the  requirements  of the Prime  Lease  with  respect  to  alterations  and
improvements,  and shall seek the consent of both  Landlord and Prime  Landlord,
and Tenant shall not engage in such work until it has received  written  consent
from Landlord,  which consent of Landlord shall not be unreasonably  withheld or
delayed  following  Landlord's  receipt of the  consent of Prime  Landlord.  Any
permanent improvements shall become the property of Landlord (or Prime Landlord)
and shall remain on the Demised  Premises at the  termination  of the  Sublease;
provided,  however, that Tenant shall, at its sole cost and expense, if Landlord
is  so  required  pursuant  to  the  terms  of  the  Prime  Lease,  remove  such
improvements  installed by Tenant prior to or concurrently  with the termination
of the  Sublease  and  restore the Demised  Premises to their  condition  on the
Commencement  Date.  Tenant's  failure to comply with  Landlord's  request shall
entitle Landlord to remove the improvements installed by Tenant at Tenant's cost
and expense.

                  10.  Indemnification;  Insurance.  (a) Tenant shall  indemnify
Landlord  against,  and hold Landlord  harmless  from,  any and all loss,  cost,
damage, expense or liability (including but not limited to reasonable attorney's
fees and  disbursements)  incurred by Landlord by reason of (i) any  injuries to
persons or damage to property  occurring  in, on or about the Demised  Premises,
(ii) any breach or default  hereunder on Tenant's part,  (iii) any work or thing
whatsoever done, or any condition created,  in, on or about the Demised Premises
during the term of this Sublease by Tenant,  (iv) any act or omission of Tenant,
its agents, contractors,  servants,  employees, invitees or licensees or (v) any
breach of its representations, warranties and agreements hereunder. Tenant shall
obtain and keep in full force and effect  during the term of this  Sublease,  at
its sole cost and expense, a policy of Comprehensive Public Liability Insurance,
such  insurance to afford  protection  in an amount not less than  $3,000,000 in
respect  of  bodily  injury  or death to any one  person,  and of not less  than
$3,000,000  in respect of any one  occurrence  or accident  and of not less than
$500,000 for property  damage.  All such  policies  shall name  Landlord,  Prime
Landlord,  Prime Landlord's  Lender and Tenant as insureds  thereunder and shall
conform in all respects with insurance  requirements  under the Prime Lease. The
certificates of insurance  shall conform to the  requirements of the Prime Lease
and be with insurers authorized to issue insurance in the State of New York. (b)
Landlord shall indemnify Tenant against,  and hold Tenant harmless from, any and
all loss,  cost,  damage,  expense or  liability  (including  but not limited to
reasonable  attorney's fees, and disbursements)  incurred by Tenant by reason of
Landlord's breach of its representations, warranties and agreements hereunder.

                  11.      Assignment  and  Subleasing.  Tenant  shall not
assign this Sublease or sublet the Demised  Premises or any part thereof without
first obtaining the written consent of Prime Landlord and Landlord.

<PAGE>

                  12. Default; Remedies. Tenant covenants and agrees that in the
event that it shall default in the  performance  of any of the terms,  covenants
and  conditions  of this  Sublease  after  notice and grace  period,  if any, as
provided in the Prime Lease,  Landlord shall be entitled to exercise any and all
of the rights and  remedies to which it is entitled by law,  including,  without
limitation, the remedy of summary proceeding, and also any and all of the rights
and remedies  specifically  provided  for in the Prime  Lease,  which are hereby
incorporated herein and made a part hereof, with the same force and effect as if
herein  specifically  set forth in full,  and that  wherever  in the Prime Lease
rights and  remedies  are given to Prime  Landlord,  the same shall be deemed to
refer to  Landlord.  Landlord  shall have the same  remedies  for default in the
payment of  Additional  Rent as for default in the payment of Base Rent.  If the
terms of the Prime  Lease  permit a time period in which a default can be cured,
that provision is incorporated herein.

                  13. Termination.  On the date upon which the term hereof shall
expire and come to an end, whether by expiration, by lapse of time or otherwise,
Tenant at Tenant's  sole cost and expense,  shall quit and surrender the Demised
Premises  to  Landlord  in as  good  order  and  condition  as  existed  on  the
Commencement  Date,  normal  wear and tear  excepted,  and shall  remove  all of
Tenant's personal property. Tenant's failure to vacate or to remove its personal
property or to leave the Demised Premises in the condition required hereby shall
subject  Tenant to the remedies  provided to Prime  Landlord in the Prime Lease,
including the penalty for holdover included in the Prime Lease, and any delay by
Tenant  in  vacating  the  premises  shall be  deemed  to  create a delay of the
equivalent  number of days by Landlord  for which  Tenant shall be liable to the
extent Landlord shall be held liable,  including all damages,  if any, for which
Landlord shall be held as a result thereof.

                  14. Broker. Each party represents that it has had no dealings,
either  direct or indirect,  with any real estate agent or broker in  connection
with this  transaction.  Each party hereby agrees to indemnify and hold harmless
the other  from and  against  any loss or  damage,  including  attorney's  fees,
resulting from a misrepresentation in this Article.

                  15.      Authority.  Each party  represents  that it has full
power and authority to enter into and perform this Sublease. Landlord represents
that it has not entered into any other  inconsistent  commitments  or agreements
with respect to the Demised Premises.

<PAGE>

                  16.   Notices.   Any   notice,   demand,   request   or  other
communication  which is  required or may be given  pursuant to or in  connection
with this  Sublease  shall be in writing and, any law or statute to the contrary
notwithstanding,  shall be  effective  for any  purpose  if given or  served  by
personal  delivery  or  overnight  courier to its  address  in the  introductory
paragraph of this Sublease.

                  17.  Termination of the Prime Lease.  If, for any reason,  the
term of the Prime Lease shall  terminate  prior to the  Expiration  Date of this
Sublease,  this Sublease shall  thereupon  terminate,  and Landlord shall not be
liable to Tenant by reason  thereof  unless  such  termination  resulted  from a
default by Landlord  under the Prime Lease and (a) such  default by Landlord was
not due to default by Tenant of its obligations  hereunder,  including,  without
limitation,  the  obligations  under the Prime Lease  incorporated  by reference
herein  or (b)  Tenant  is not in  default  of any of its  monetary  obligations
hereunder beyond any applicable grace period.

                  18.      Governing  Law.  The laws of the State of New York
shall govern the rights,  duties and  remedies of the parties  hereto and of the
construction and interpretation of the terms and provisions hereof.

                  19.  Successors  and Assigns.  All of the terms and
provisions  of this  Sublease  shall inure to the benefit of and be binding upon
the successors and permitted assigns of the respective parties hereto.

                  20.      Separability.  In the  event  that  any  provisions
of this Sublease  shall be held to be invalid or  unenforceable  in any respect,
the validity,  legality or  enforceability  of the remaining  provisions of this
Sublease shall be unaffected thereby.

                  21.  Headings.  The headings  contained in this Sublease are
for convenience only and are not to be deemed a part hereof.

                  22.      Execution of  Sublease.  This  Sublease  may be
executed by the parties hereto in separate  counterparts,  each of which when so
executed and delivered shall be an original,  but all of such counterparts shall
together constitute but one and the same instrument.

                  IN  WITNESS  WHEREOF,  Landlord  and Tenant  herein  have duly
executed this instrument the day and year first above written.

<PAGE>

                                              LANDLORD:

                       Infinity Broadcasting Corporation, successor to CBS, Inc.
                                                    By:_________________________
                                                    Title:______________________

                                            TENANT:

                                               WESTWOOD ONE RADIO NETWORKS, INC.

                                                    By:_________________________
                                                    Title:______________________

                                            GUARANTOR:
                                                     The    undersignd    hereby
                                                     guarantees     to     Prime
                                                     Landlord and Landlord  full
                                                     performance  by  Tenant  of
                                                     all  obligations  of Tenant
                                                     required to be performed by
                                                     Tenant   pursuant  to  this
                                                     Sublease.

                                                     WESTWOOD ONE, INC.

                                                    By:_________________________
                                                    Title:______________________

                                            PRIME LANDLORD:
                                                     The undersigned
                                                     acknowledges receipt of and
                                                     consents to this Sublease.

                                                  LEFRAK SBN LIMITED PARTNERSHIP

                                                  By:___________________________
                                                  Title:________________________

<PAGE>

                                   SCHEDULE A
                                   ----------

                       Years                      Rent per rentable square foot
                       -----                      -----------------------------

                       1999-2000                  $34.00

                       2001                       $34.17

                       2002-2003                  $35.00

                       2004                       $33.08

                       2005                       $29.25

                       2006                       $29.63

                       2007-2/2012                $32.25

                                  EXHIBIT 10.13

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}]]