Document:

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                                                                  Exhibit 10.47
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                                                                  EXECUTION COPY

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               Exchange Commission. Asterisks denote omissions.

         DIRECTORY AND LOCAL ADVERTISING PLATFORM SERVICES AGREEMENT
          -----------------------------------------------------------

     This Directory and Local Advertising Platform Services Agreement (the
"Agreement"), dated as of December 11, 2000 (the "Effective Date"), is between
America Online, Inc. ("AOL"), a Delaware corporation, with offices at 22000 AOL
Way, Dulles, Virginia 20166, and Switchboard Incorporated ("SB"), a Delaware
corporation, with offices at 115 Flanders Road, Westboro, MA  01581.  AOL and SB
may be referred to individually as a "Party" and collectively as the "Parties."

                                 INTRODUCTION
                                 -------------

AOL and SB each desires to enter into a strategic technology development,
marketing and services agreement designed to create new interactive local
merchant directory advertisement opportunities on the AOL Properties (as defined
herein).  As a key component of this effort, AOL will create a new yellow pages
product powered by SB that will be integrated throughout the AOL Properties in
the manner provided in this Agreement.  SB will develop, host, operate and
support the core database and platform for the yellow pages product as set forth
herein and other products as may be developed from time to time.  AOL will
develop, control, host, design and maintain the user interface for the yellow
pages product, and will provide to SB platform exclusivity and distribution, as
expressly set forth herein.  As provided herein, AOL will actively market and
sell Directory Advertisements, directly and/or through third party channels, and
will share revenue with SB from such sales efforts in order for both Parties to
enjoy the benefits of the Parties' collaborative focus on the interactive local
merchant advertising market.  Capitalized terms used but not otherwise defined
herein shall have the meanings ascribed to such terms on Exhibit A hereto.

                                     TERMS
                                     -----

1.   LOCAL BUSINESS DIRECTORY PRODUCT. AOL intends to develop a suite of online,
     wireless, voice, PDA, AOLTV, or other media (electronic or otherwise) for
     interactive local business directory products ("Local Business Directory
     Products") (and other products that may utilize components of the Local
     Business Directory Products).  As part of this initiative, AOL will create
     a comprehensive, interactive yellow pages business listings product ("YP
     Product"), which AOL will distribute on the AOL Properties in accordance
     with this Agreement. The YP Product, and other mutually agreed upon Local
     Business Directory Products, will utilize the DLA Platform (as defined in
     Section 2), as further described in Section 2 hereof, and will also
     incorporate features and functionality, tools and APIs to be provided by
     both Parties as set forth herein.  AOL will create and maintain a user
     interface for the YP Product (the "AOL YP User Interface"), as well as
     other user interfaces for other Local Business Directory Products as deemed
     appropriate by AOL in its sole discretion. AOL shall design, develop,
     control, host, operate and maintain the AOLYP User Interface, (a) which
     shall include, without limitation, a color scheme, branding, permanent
     navigational features, shortcut searches, rotating links and add-on
     functionality (e.g., upsells) determined by AOL in its sole discretion, and
     (b) all pages of which (including without limitation, the Search Screen,
     related Results Pages and other pages such as the Help Screen) shall be
     hosted on AOL servers and be served by AOL under AOL-designated URLs. SB
     and AOL shall work together to enable the interoperability of APIs
     developed by the Parties hereunder with the AOL YP User Interface.

  CONFIDENTIAL - AOL - SWITCHBOARD DIRECTORY AND LOCAL ADVERTISING PLATFORM
                              SERVICES AGREEMENT

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2.   DLA PLATFORM.  The directory and local advertising platform which shall
     support the YP Product shall be comprised of the following components: (1)
     the [**] Database (each as defined in Section 3 hereof), (2) AOL Features
     or Functionality and SB Features and Functionality, and (3) other tools and
     APIs as further described in Section 5 (collectively referred to herein as
     the "DLA Platform").  Each Party shall have certain responsibilities with
     respect to the management, maintenance and development of the DLA Platform,
     as further set forth in Sections 4 and 5 hereof and Exhibit C hereto. AOL
     shall have the right to use the DLA Platform in connection with any of its
     Local Business Directory Products in accordance with the licensing
     provisions set forth in Section 8 hereof.

3.   [**]. The DLA Platform shall include [**] of local business information:
     the [**] Database ([**] as defined below, [**].

     3.1     [**] DATABASE. The [**] Database" shall include the following data:
             (i) Directory Advertisements, (ii) Self-Pub Ads, (iii) SB Data,
             (iv) Corrected Data, (v) Third-Party Licensed Data, and (vi) Level
             I Data Enhancements. 3.1.1 SB Obligations. Subject to Sections 3.3
             and 7.1.1, SB shall create, develop, operate, support, update and
             maintain the [**] Database in accordance with the terms and
             conditions of this Agreement (including without limitation,
             Exhibits C and F hereto), solely for use by AOL and AOL Users;
             provided that AOL acknowledges that SB may also use SB Data and SB-
             Licensed Data for any other purpose. The [**] Database shall be a
             stand-alone database (i.e., [**] SB YP Database) and shall be
             hosted and maintained on dedicated SB servers; provided, however,
             that the pages accessing the [**] Database will be served by AOL
             under an AOL URL (e.g., www.aolyp.com, www.yellowpages.aol.com,
             etc.) to be determined by AOL in its reasonable discretion;
             provided, further, that AOL shall use commercially reasonable
             efforts to encourage Media Metrix and other third party media
             ratings services to equally or secondarily credit SB with traffic
             related pages with substantial content that has the [**] Database
             as its primary source. SB shall bear the incremental cost of
             hardware (e.g., servers) and facilities (e.g., rack or floor space)
             associated with the [**] Database. SB shall have the primary
             responsibility to enable the interoperability of the [**] Database
             in a [**] with the [**] Database (as defined below) and the AOL YP
             User Interface. AOL shall have the right (subject to any third-
             party data licensing restrictions) to require that SB organize and
             present to AOL Users the information contained in the [**] Database
             in any format reasonably deemed appropriate by AOL, and SB shall
             customize the [**] Database to allow for such formatting. In
             addition, SB shall have the primary responsibility for ensuring
             that AOL Users shall have the ability to search the [**] Database
             and view the results of such searches (including any Level I Data
             Enhancements) through the AOLYP User Interface.

     3.1.2   AOL Advertisement Rejection Right. AOL may refuse (in its sole
             discretion) to allow any data (including without limitation any SB
             Data, Directory Advertisements, Corrected Data, Third-Party
             Licensed Data, etc.) to be placed in the [**] Database that
             violates, in the reasonable discretion of AOL (i) the AOL Standard
             Policies, or (ii) any exclusive or premier arrangement to which AOL
             or any AOL Affiliate is a party (collectively, the "AOL
             Advertisement Rejection Right"), and, upon notice by AOL, SB shall
             prevent the inclusion of (or promptly remove) (and in no event less
             than [**] following notice by AOL) any such listing in the [**]r
             Database that is rejected by AOL. Upon execution of this Agreement,

  CONFIDENTIAL - AOL - SWITCHBOARD DIRECTORY AND LOCAL ADVERTISING PLATFORM
                              SERVICES AGREEMENT

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             AOL shall provide to SB a list of product categories in which AOL
             maintains exclusive or premier relationships as of the Effective
             Date.

             Notwithstanding the foregoing, to the extent that AOL enters into
             exclusive or premier arrangements with third parties following the
             Effective Date, the entrance by AOL into such exclusive or premier
             relationship shall not require the removal of any pre-existing SB
             Data from the [**] Database and shall be subject to Section 12
             hereof.

     3.1.3   Subject to Section 3.1.1, the AOL Advertisement Rejection Right and
             the remainder of this Section 3.1.3, AOL hereby grants SB the right
             to include in the [**] Database (at no charge and to the extent
             consistent with the collective objectives of the Parties as set
             forth in Section 13 (iii)) [**] [**] for advertisers that are
             displayed through the yellow pages database and user interface of
             the Standard SB Site ("SB Directory Ads"). The SB Directory Ads
             will be displayed in the YP Product in accordance with the AOL YP
             User Interface, as the same is displayed on the AOL Properties.

             (a)  Notwithstanding the foregoing, AOL will only accept SB
                  Directory Ads that are for [**] with [**] (i.e., no SB
                  national or regional advertisers). In addition, such SB
                  Directory Ads shall only be permitted to appear in up to 3
                  heading categories within the [**] Database, (2) shall follow
                  the reach parameters set forth in Exhibit C (e.g., no SB
                  Directory Ad will receive greater than a [**] mile radius
                  reach), and (3) shall otherwise comply with other requirements
                  reasonably requested by AOL from time to time.

             (b)  Any SB Directory Ads submitted by SB but rejected by AOL will
                  not count toward the [**] to be afforded to SB. For such
                  advertisements to be included in the [**] Database (as agreed
                  upon by AOL in writing) in excess of the foregoing number, the
                  Parties shall negotiate in good faith to agree upon the
                  economic compensation and allocation related thereto.

     3.1.4   AOL Right to Include Existing SB Data. Notwithstanding the
             foregoing, subject to the AOL Advertisement Rejection Right (as
             defined above in Section 3.1.2), AOL shall have the right to
             include in the YP Databases any Existing SB Data (excluding any
             Third-Party Licensed Data and other data, if any, that SB is
             contractually precluded as of the Effective Date from providing to
             AOL, a list of which SB shall make available to AOL no later than
             [**] days following the Effective Date), which Existing SB Data
             shall be no less current, as of the Effective Date, in any material
             respect than data provided in any other SB YP Database (other than
             data excluded as provided above).

3.2  [**]DATABASE. The "[**] Database" shall include the following data: (i)
     Level II Data Enhancements, and (ii) any applicable portions of the [**]
     Database as AOL desires to include in the [**] Database from time to time,
     in its sole discretion.

     3.2.1   AOL Obligations. AOL shall host the [**] Database and related
             software on AOL servers. AOL, in its sole discretion, shall have
             the right to structure the [**] Database [**]. AOL shall create,
             develop, operate, support, update and maintain the [**] Database in
             a manner to be determined by AOL from time to time in its
             reasonable discretion. AOL shall bear the incremental cost of
             hardware (e.g., servers) and facilities (e.g., rack or floor space)
             associated with the [**] Database.

  CONFIDENTIAL - AOL - SWITCHBOARD DIRECTORY AND LOCAL ADVERTISING PLATFORM
                              SERVICES AGREEMENT

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     3.2.2  Transition of Level II Data Enhancements to [**] Database. AOL shall
            have the right to require SB (from time to time) to transition
            certain Level II Data Enhancements for inclusion in the [**]
            Database ("[**] Enhancements"); provided that such [**] Enhancements
            shall be subject to the terms and conditions of this Agreement that
            apply generally to the [**] Database (including, without limitation,
            Level I Data Enhancements) and to SB's obligations with respect to
            the DLA Platform (including, without limitation, Sections 5.3 and
            Section 7 hereof).

     3.2.3  Synchronization of YP Databases; Access to Non-Synchronized Data. SB
            shall be primarily responsible for (a) the synchronization of the YP
            Databases and (b) continuous AOL and AOL User access to the non-
            synchronized data contained in the[**] Database (i.e., the data [**]
            by AOL for inclusion in the [**] Database), in each case as further
            described in Exhibit C hereto. AOL shall assist SB as reasonably
            necessary in connection with the foregoing obligations, and with
            respect to SB's primary responsibility to ensure interoperability
            between the YP Databases as set forth in Section 3.1.1.

3.3  USE OF THIRD-PARTY-LICENSED DATA. AOL shall have no obligation to use any
     SB-Licensed Data in the YP Databases or otherwise as part of the DLA
     Platform or YP Product. AOL shall have the right to use any SB-Licensed
     Data as the exclusive or non-exclusive source of listings data for the YP
     Databases, subject to applicable third-party license restrictions. To the
     extent that current licenses do not permit the Parties to include listings
     data in the DLA Platform, the Parties will work together to secure
     applicable licenses for such inclusion (the licensing fees for which shall
     be borne by AOL unless otherwise agreed upon by the Parties in writing).
     Each Party shall [**] at any time [**] hereunder.

3.4  UTILIZATION OF MULTIPLE DATA PROVIDERS. Nothing in this Agreement shall
     prohibit AOL from utilizing multiple or varying data providers to provide
     information for use in connection with the YP Databases and to present such
     data to AOL Users. The Parties will work together in good faith to utilize
     consistent data providers for like data in the YP Databases.

3.5  NO RESALE OF DATA.
     -----------------

     3.5.1   SB Data. AOL shall not resell or sublicense any SB Data provided to
             AOL by SB during the License Period for use with the DLA Platform;
             provided that, the use and distribution of such data by AOL or its
             Affiliates, consistent with this Agreement, as part of a Local
             Business Directory Product shall not constitute the resale or
             sublicense of such data for purposes of this Section 3.5. AOL shall
             have the right to require SB to merge the SB Data with other data
             in the [**] Database (subject to applicable third-party licensing
             restrictions) for access on or through the DLA Platform.

     3.5.2   SB-Licensed Data. AOL shall not resell or sublicense any SB-
             Licensed Data provided to AOL by SB during the License Period for
             use with the DLA Platform; provided that, the use and distribution
             of such data by AOL or its Affiliates, consistent with this
             Agreement and any relevant third-party licenses, as part of a Local
             Business Directory Product shall not constitute the resale or
             sublicense of such data for purposes of this Section 3.5. AOL shall
             have the right to require SB to merge the SB-Licensed Data with
             other data in the [**]Database (subject to

  CONFIDENTIAL - AOL - SWITCHBOARD DIRECTORY AND LOCAL ADVERTISING PLATFORM
                              SERVICES AGREEMENT

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             applicable third-party licensing restrictions) for access on or
             through the DLA Platform

3.6  SB INTERACTIVE DIRECTORY OF BUSINESS LISTINGS. As SB develops, creates,
     acquires, or extensively participates in (as a publisher) an interactive
     directory of business listings other than the [**]Database during the Term
     ("Additional SB YP Data"), AOL shall have the option to require that SB use
     and/or integrate such Additional SB YP Data for or into the [**] Database
     in its sole discretion, except to the extent that SB may be precluded from
     doing so by contracts with third parties [**]

4.   AVAILABILITY OF SB FEATURES AND FUNCTIONALITY. As part of the Included SB
     Services, SB shall (subject to restrictions in agreements between SB and
     third parties in full force and effect on the Effective Date) make all SB
     Features and Functionality available to AOL for use in connection with the
     DLA Platform.  In addition, at AOL's request, SB shall (subject to
     restrictions in agreements between SB and third parties in full force and
     effect on the Effective Date) make available to AOL for use in connection
     with the DLA Platform any other tools or applications which are generally
     available through or on  SB Interactive Sites, on commercially reasonable
     terms to be mutually agreed upon by the Parties.  SB shall be responsible
     for updating and maintaining SB Features and Functionality during the Term
     of the Agreement and shall be primarily responsible for enabling the
     interoperability of SB Features or Functionality with the DLA Platform
     (including, without limitation, the YP Databases). In the event  [**]
     related to SB's Features or Functionality that [**] shall be responsible
     for [**] in the event that [**] to use such SB Features and Functionality
     [**] provided that (i) SB shall [**], and (ii) AOL shall [**] as the case
     may be) for [**] such SB Features and Functionality.

5.  API AND TOOLS DEVELOPMENT
    -------------------------

     5.1  SB.
          --

          5.1.1  API Development. Subject to the terms of this Agreement, SB
                 shall develop and provide: (i) a suite of APIs to query, the
                 [**] Database (collectively, "SB APIs") and a series of tools
                 to insert, edit and update the [**]Database, in each case as
                 further described in Exhibit C, and (ii) other methods of data
                 access as set forth in Exhibit C. To the extent reasonably
                 requested by AOL, SB shall develop appropriate APIs and tools
                 for use with the [**] Database in accordance with the terms of
                 this Agreement.

          5.1.2  API Support. As part of SB's obligations under this Agreement,
                 (i) the SB API's shall contain all functionality reasonably
                 necessary to support, use, and interoperate with (including,
                 without limitation, to use the principal functions of) the [**]
                 Database in accordance with this Agreement; provided, however,
                 that, to the extent that such SB APIs are insufficient to
                 enable such interoperability, SB shall modify such APIs, as
                 promptly as commercially reasonable, to enable such
                 interoperability; (ii) SB will provide AOL with all APIs
                 reasonably necessary to allow the AOLYP User Interface to
                 interoperate with the YP Databases and the DLA Platform and to
                 afford AOL (and AOL Users) with access to the [**] Database and
                 the DLA Platform in accordance with this Agreement, as further
                 set forth in Exhibit C; and (iii) no modifications by SB to the
                 DLA Platform or the YP Databases shall materially impair or
                 degrade any of the foregoing functionality, provided that such
                 obligation in this clause (iii) shall not apply to
                 modifications requested by AOL outside the scope of the All-In
                 Services. During the License Period, to the extent reasonably
                 necessary for AOL to modify, develop, add, delete or use any
                 Level II Data Enhancements in connection with the functionality
                 or features of the DLA Platform, the [**] Database, the AOL YP

  CONFIDENTIAL - AOL - SWITCHBOARD DIRECTORY AND LOCAL ADVERTISING PLATFORM
                              SERVICES AGREEMENT

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                 User Interface and/or the YP Product, upon AOL's request, SB
                 shall develop and provide to AOL APIs to the DLA Platform, the
                 YP Databases and/or AOL YP Product (as applicable) so that such
                 Level II Data Enhancements can interoperate with (including,
                 without limitation, use the principal functions of) the DLA
                 Platform, the YP Databases and/or the YP Product.

          5.1.3  Self-Pub Tools.  SB shall provide the Self-Pub Tools, and (if
                 applicable) Next-Generation Self-Pub Tool, each as defined in
                 Exhibit D attached hereto.

     5.2  AOL.

          5.2.1  API Development. Subject to the terms of this Agreement, AOL
                 shall develop and provide a suite of APIs to query, insert,
                 edit and update the [**] Database to access AOL Features or
                 Functionality and to interoperate with the AOL YP User
                 Interface.

          5.2.2  API Support. As part of AOL's obligations under this Agreement,
                 the AOL API's shall contain all functionality reasonably
                 necessary to support, use, and interoperate with (including,
                 without limitation, to use the principal functions of) the [**]
                 Database, AOL YP User Interface, AOL Features or Functionality
                 and aspects of the [**] Database as incorporated therein in
                 accordance with this Agreement.

     5.3  AOL REQUESTED DLA PLATFORM MODIFICATIONS.

          5.3.1  AOL shall have the right, from time to time, to request that SB
                 integrate certain features or functionalities (beyond those
                 that fall within the scope of the Included SB Services),
                 including AOL Features or Functionality, into the DLA Platform
                 (collectively "AOL Modifications"). Each AOL Modification shall
                 be documented in a statement of work executed by the Parties (a
                 "Statement of Work"), which shall (i) identify the technical
                 requirements relating to the requested features and
                 functionalities, (ii) set forth the implementation plan for
                 such features and functionalities, and (iii) set forth which
                 one of the three "AOL Modification Categories" described below
                 the AOL Modification falls within, as mutually agreed by the
                 Parties (any such agreement not to be unreasonably withheld by
                 either Party). For the avoidance of doubt, where integration of
                 any requested AOL Modification (in the Modification Category
                 requested by AOL) would be commercially reasonable in view of
                 all relevant technical constraints, and subject to Section
                 11.2.2(b), SB shall [**].

                 (a)   Modification Category 1: Designed-For-Segregation
                       Feature. Any such AOL Modifications shall be integrated
                       by SB into the DLA Platform in a manner such that the AOL
                       Modification is exclusively available to AOL Users (a
                       "Designed For-Segregation Feature"). Each such Designed
                       for Segregation Feature shall be a separate module
                       integrated into the DLA Platform through a stand-alone
                       API and shall not be threaded throughout the SB YP
                       Platform source code.

                 (b)   Modification Category 2: [**] Feature. Any such AOL
                       Modifications shall be integrated by SB into the DLA
                       Platform such that the AOL Modification will be [**] any
                       SB Interactive Site or any other third party Interactive
                       Site (even if such AOL Modifications may form part of the
                       SB YP Platform source code) (collectively, [**]

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                       Features"). The applicable Statement of Work shall
                       specifically identify what it means [**] and the [**]

                 (c)   Modification Category 3: Threaded AOL Modification. AOL
                       Modifications that are not implemented as Designed-For-
                       Segregation Features or [**] Features shall be integrated
                       with the DLA Platform in a threaded fashion upon the
                       prior written approval by AOL consistent with the
                       Statement of Work requirements of this Section 5.3.1 (a
                       "Threaded AOL Modification").

          5.3.2  For a period of [**] days following the development and
                 implementation thereof, SB will make available to AOL, upon
                 AOL's request (or requirement by the relevant Statement of
                 Work), copies of any source code developed or otherwise created
                 by SB or any third party for any AOL Modifications that (a) are
                 segmented or segmentable and (b) can be duplicated in
                 segmentable form or otherwise capable of duplication
                 ("Segmentable Source Code"), which Segmentable Source Code AOL
                 shall have the right to use in a manner determined by AOL both
                 during and after the License Period, in its sole discretion.

          5.3.3  Furthermore, the Parties acknowledge and agree that (x) it is
                 the intent of the Parties that no AOL Features or Functionality
                 shall be integrated into the DLA Platform as a Threaded AOL
                 Modification without the prior, written approval of AOL
                 (consistent with the requirements of Section 5.3.1 above),
                 which approval shall include applicable licensing terms for
                 such AOL Features or Functionality as mutually agreed upon by
                 the Parties, and (y) that the restrictions set forth in
                 Sections 5.3.1(a), (b) and (c) above shall survive the
                 termination or expiration of this Agreement. To the extent that
                 any features or functionalities are not AOL Features or
                 Functionalities or are not contained in a Statement of Work, SB
                 shall own such features or functionalities as SB Platform
                 Components under Section 7.1.1 and subject to SB's
                 confidentiality obligations hereunder.

          5.3.4  During the Initial Term, senior technical representatives of
                 each Party shall conduct a development review meeting
                 ("Development Review Meeting") once per quarter to review the
                 status of all changes to the DLA Platform that have been made
                 during the previous quarter.

                 (a)  If such technical representatives have a bona fide
                      disagreement about whether or not a particular
                      modification integrated into the DLA Platform is an AOL
                      Feature or Functionality, then the Parties shall submit
                      such dispute to the Steering Committee for resolution in
                      accordance with Section 13 hereof.

                 (b)  In the event that the Steering Committee fails to resolve
                      such dispute within the time period set forth in Section
                      13, then the Parties shall submit such dispute to the
                      Management Committee for resolution in accordance with
                      Section 1.1 of Exhibit I.

                 (c)  Notwithstanding the provisions of Exhibit I, if the
                      Management Committee fails to resolve the dispute within
                      the time period provided therein, such dispute as to
                      whether the modification at issue is an AOL Feature or
                      Functionality shall be resolved exclusively and finally by
                      arbitration in accordance with Section 1.2 of Exhibit I.
                      In the interest of expeditious

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                      resolution, the Parties agree that (in accordance with
                      Section 1.2 of Exhibit I) such arbitration shall take
                      place as quickly as reasonably practicable and the Complex
                      Procedures shall not apply.

                 (d)  If the modification at issue is determined to be an AOL
                      Feature or Functionality, then as soon as reasonably
                      practicable, but in no event later than [**] days
                      following resolution of the dispute by any of the
                      foregoing means, SB shall stop making any such AOL Feature
                      or Functionality available to any third party (including
                      without limitation, users of any SB Interactive Site or
                      any third party interactive site). In addition, following
                      resolution of any such dispute, SB shall provide AOL with
                      a copy of any Segmentable Source Code associated with such
                      AOL Features or Functionality.

6.  OTHER SB SUPPORT OBLIGATIONS.

     6.1  INFRASTRUCTURE SERVICES; MERGE/PURGE. SB shall provide the
          infrastructure services (including related hardware and/or software,
          merge/purge services) reasonably necessary to support and maintain the
          DLA Platform as set forth in this Agreement (including, without
          limitation, Exhibit C) and as otherwise reasonably requested by AOL
          from time to time.  SB shall update and maintain the DLA Platform and
          [**] Database on a regular and consistent basis in accordance with
          Exhibit C, and in no event less frequently than SB updates and
          maintains the SB YP Platform and/or the SB YP Database for the
          Standard SB Site.

     6.2  BEST OF BREED. The DLA Platform shall be within the top [**]  then-
          current interactive business directories, in terms of the categories
          set forth below (the "Best-of-Breed Obligation"):

          (1)  features and functionality (except to the extent that AOL elects
          not to include same in the DLA Platform); and

          (2)  technology platform (including any relevant SB APIs and tools).

          SB's compliance with the Best-of-Breed Obligation set forth above
          shall be determined  by an independent third party, whose selection
          and methodology shall be mutually agreed upon by AOL and SB within
          [**]  days following execution of this Agreement (such agreement not
          to be unreasonably withheld by either Party).  Such independent third
          party will consider the above factors in the aggregate, excluding
          aspects of the DLA Platform substantially controlled by AOL.  To the
          extent AOL and SB cannot agree on the selection of such independent
          third party and methodology, AOL and SB shall refer the matter to the
          Steering Committee for resolution thereof, the determination of which
          shall be binding upon both Parties.  SB shall have [**]  days to cure
          any breach of the Best of Breed Obligation.

     6.3  TAXONOMY. AOL and SB shall use commercially reasonable efforts to work
          together and to notify each other and the Alternative Sales Forces of:
          (i) any differences in taxonomy between the SB YP Platform (or any SB
          YP Database) and the DLA Platform (or the YP Databases) as such may
          exist prior to the creation and implementation of the Initial DLA
          Platform (as defined in Section 11.5.1 hereof); and (ii) any
          differences, changes or modifications in taxonomy between any SB YP
          Platform (or any SB YP Database) and the DLA Platform (or YP
          Databases), as such may exist during the License Period.  In addition
          to the foregoing, for the Initial DLA Platform and the YP Databases
          (and as part of the Included SB Services), SB shall assign stable
          identifiers to all categories and shall make the following types of
          changes to the taxonomy as reasonably requested by AOL:

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               Exchange Commission. Asterisks denote omissions.

          (i) text changes to categories; and (ii) additions or deletions of
          categories. Following the development of the Initial DLA Platform, AOL
          shall have the right to require SB to make additional changes (of the
          type described in (i) and (ii) above) to the taxonomy as reasonably
          requested by AOL for the DLA Platform and the YP Databases.

     6.4  SOURCE CODE ESCROW. SB and AOL will enter into an escrow agreement
          (the "Source Code Escrow Agreement"), containing terms and conditions
          subject to the mutual agreement of the Parties, for the limited use by
          AOL of the SB Platform Components (as defined below in Section 7.1.1)
          (and any other aspects of the DLA Platform controlled by SB) and [**]
          Database, in source code form (the "Source Code"), solely for the
          purposes of undertaking activities which SB is obligated to perform or
          undertake hereunder and fails to perform or undertake as required
          hereunder.  The Source Code Escrow Agreement shall provide that AOL
          shall be entitled to a copy of the Source Code, which SB shall
          regularly update (no less frequently than on a quarterly basis,
          subject to the remainder of this Section 6.4), only upon the
          occurrence of all of the following three (3) events (collectively, the
          "Release Conditions"): (i) SB's material breach of its material
          obligations hereunder to provide, maintain or support the DLA Platform
          and/or YP Databases, which breach materially adversely affects the AOL
          YP Product; (ii) AOL's written notice to SB detailing such material
          breach; and (iii) SB's failure to cure such material breach within
          [**]  days of receipt of such notice.  Upon notice by AOL to SB of
          material breach and/or termination of this Agreement, SB shall update
          the Source Code within [**]  of receipt of such notice ("[**]  Update
          Period").  In the event SB fails to update the Source Code either on a
          quarterly basis (as required above) or within any [**]  Update Period,
          AOL shall have the right to seek any remedies hereunder, at law or in
          equity (including, without limitation, specific performance), to
          enforce such obligation.  The Source Code Escrow Agreement will not
          include any right to sublicense, transfer, assign, disclose or
          distribute the Source Code to any third party without SB's prior
          written consent, and the Source Code Escrow Agreement will contain
          provisions, reflective of the sensitivity of the Source Code, to
          preclude the unauthorized use or disclosure of the Source Code or
          information derived therefrom.  Promptly after execution of this
          Agreement, and in any event within [**]  days, SB and AOL shall
          negotiate and enter into the Source Code Escrow Agreement with Data
          Securities International or another escrow holder acceptable to each
          Party.  The Source Code Escrow Agreement will contain provisions for
          SB to provide AOL with reasonable assistance in understanding and
          using the Source Code upon occurrence of the Release Conditions, as
          well as provisions providing for the return of the Source Code to SB
          upon cure (to the reasonable satisfaction of AOL) of the
          aforementioned material breach by SB.  AOL's use of the Source Code
          shall not exceed the narrow purpose set forth in this Section 6.4.
          Each of the Parties shall be responsible for its own costs and
          expenses associated with establishing the escrow account as set forth
          in this Section. The Parties shall share equally any third party
          escrow account maintenance costs related to the Source Code Escrow
          Agreement.

7.  OWNERSHIP.

     7.1  DLA Platform, Features and Functionality, APIs and AOL Modifications.

          7.1.1  SB. As between the Parties, except as otherwise provided in
                 this Agreement, SB shall own (i) all aspects of the DLA
                 Platform (x) developed by SB prior to the Effective Date and
                 integrated into the DLA Platform, and/or (y) developed by SB
                 outside the scope of this Agreement, (ii) all SB Features or
                 Functionality and all SB APIs and tools which are owned or
                 licensed by SB or were developed by SB outside the scope of
                 this Agreement, (iii) all SB Data, and (iv) (consistent with
                 and subject to the restrictions set forth in Section 5.3 with
                 respect to [**] Features and/or Threaded AOL Modifications as
                 the case may be) any

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                 [**] Features and any Threaded AOL Modifications
                 (collectively, the "SB Platform Components").

          7.1.2  AOL. As between the Parties, except as otherwise provided in
                 this Agreement, AOL shall own the [**] Database and the DLA
                 Platform, all AOL Features or Functionality, and all Level II
                 Data Enhancements (including Designed-For-Segregation
                 Features); provided that AOL shall not own SB Platform
                 Components as defined in Section 7.1.1 above. AOL also shall
                 own and control the name of the YP Product and any AOL APIs,
                 the AOLYP Look and Feel, and all aspects of the AOLYP User
                 Interface, in each case excluding any SB trademarks or generic
                 terms contained therein. AOL hereby grants SB a non-exclusive,
                 royalty-free license to use the name of the YP Product, the
                 AOLYP Look and Feel, and the AOLYP User Interface during the
                 License Period, solely for the purposes of this Agreement and
                 only as expressly permitted hereunder. AOL hereby grants SB the
                 right to use the Designed-For-Segregation Features during the
                 License Period solely to perform its obligations under this
                 Agreement and only with respect to the DLA Platform and the YP
                 Databases.

          7.1.3  AOL and SB.

                 (a)  The Parties shall jointly own all SB APIs created or
                      otherwise developed under this Agreement (specifically
                      excluding SB API's developed pursuant to Section
                      7.1.1(ii)).

                 (b)  To the extent any works are jointly owned under this
                      Agreement, each Party may independently exploit such
                      jointly owned work, but neither Party shall be entitled to
                      an accounting of profits from the other Party in
                      connection therewith. Each Party shall bear its own cost
                      to provide reasonable assistance to the other Party, at
                      such Party's request, in connection with protecting,
                      maintaining and enforcing any patent, copyright or other
                      proprietary right in the jointly owned work. In the event
                      any jointly owned work embodies any jointly developed
                      invention, AOL shall have the right to control the
                      prosecution, maintenance and enforcement of any patent
                      rights therein.

     7.2  DATA.

          7.2.1  SB. SB shall own all SB Data, provided, however, that during
                 the License Period, AOL shall have the right to use the SB Data
                 and any SB-Licensed Data (to the extent permitted by the
                 applicable third party licenses) in accordance with the terms
                 of this Agreement, provided, further, that upon termination or
                 expiration of the License Period, (1) SB shall have the right
                 to remove all SB Data and any SB-Licensed Data from the [**]
                 Database (and to cause AOL to remove all SB Data and SB-
                 Licensed Data from the [**] Database), and (2) AOL shall have
                 no right to use any SB Data and/or SB-Licensed Data in any
                 manner whatsoever upon termination or expiration of the License
                 Period.

          7.2.2  AOL. AOL shall own any Existing AOL Data, and all data in the
                 [**] Database (other than any SB Data and any Third-Party
                 Licensed Data). During the License Period, SB shall have the
                 right to use such data (solely for the purposes of carrying out
                 its obligations under this Agreement) included within the [**]
                 Database as permitted by the terms of this Agreement; provided,
                 further, that SB shall have no right to use any such data
                 (other than the SB Data and

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                 SB-Licensed Data) in any manner whatsoever upon termination or
                 expiration of the License Period.

          7.2.3  Corrected Data. Notwithstanding the provisions of Sections
                 7.1.1 and 7.1.2 above, the Parties shall have the right to use
                 Corrected Data without restriction both during and after the
                 License Period, subject to applicable law.

8.  LICENSE.

    8.1  During the Term and any Wind-Down Period (collectively, the "License
         Period") and subject to restrictions in third party agreements as
         described in Section 8.2 below, SB hereby grants AOL a non-exclusive,
         non-transferable, worldwide, royalty-free, right and license to
         promote, market, advertise, reproduce, display, distribute, perform,
         communicate, transmit, use, modify and adapt, the SB Platform
         Components as part of the Local Business Directory Products, (i) on or
         through any platform (e.g., wireless, voice portal, PDA, AOLTV, etc.)
         or media (electronic or otherwise) on or off line (other than print
         directories), and (ii) on any area of the AOL Network (and/or on any
         third party web sites linking thereto), subject to the terms this
         Agreement (collectively, the "License"). Notwithstanding the foregoing,
         the License shall not include the right by AOL to: (i) promote, market,
         advertise, reproduce, display, distribute, perform, communicate,
         transmit, use, modify or adapt SB Data except in connection with any
         Local Business Directory Product in accordance with this Agreement; or
         (ii) promote, market, advertise, reproduce, display, distribute,
         perform, communicate, transmit, use, modify, access, adapt or reverse
         engineer computer code owned by SB, in source code form or otherwise,
         except as may be permitted in accordance with Sections 5, 6.4, or 11.3
         of this Agreement. SB further covenants not to assert against AOL or
         its Affiliates any patents obtained by SB that are based upon the work
         performed by SB for AOL under this Agreement.

    8.2  The License shall include the right (i) to permit AOL Users to search
         for, locate and subsequently view, download, and print the [**]
         Database (or any portions thereof), subject to any applicable
         provisions or restrictions set forth in this Agreement or any other
         applicable third party licensing restrictions and (ii) to use, in
         connection with the DLA Platform, the YP Databases and the YP Product
         on the AOL Network, the SB APIs (including the right to make such APIs
         available to third parties, which disclosure shall be subject to the
         confidentiality restrictions contained herein, for purposes of
         development of the DLA Platform and the YP Databases), and software and
         tools (in the form currently provided by SB or as reasonably requested
         by AOL subject to the terms of this Agreement) owned by SB or provided
         by SB to AOL pursuant to this Agreement. The foregoing License further
         includes any other express rights granted by SB to AOL herein, subject
         to any restrictions set forth in the Agreement.

9.  PROMOTION AND DISTRIBUTION OF THE YP PRODUCTS.

     9.1  AOL PROMOTION OF THE YP PRODUCT.

          9.1.1  Promotions. During the Initial Term, AOL, or its Affiliates (as
                 applicable), shall promote the YP Product as set forth below.
                 To the extent such promotions apply to the AOL Service, AOL.com
                 and/or Digital City, such promotions shall be delivered to SB
                 following the [**] (as defined in Section 9.3 of this
                 Agreement). The aforementioned promotions of the YP Product
                 shall include:

                 (a)  a yellow pages link on the home page of AOL.com;

                 (b)  an above-the-fold, yellow pages link on the home pages of
                      AOL Search and AOL.com Search, and the "Yellow Pages"
                      keyword search term;

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                 (c)  run of service banner advertisements as determined by AOL
                      in its sole discretion;

                 (d)  a yellow pages link on (i) the home page of Netcenter,
                      (ii) the "Net Search" page of Netcenter; (iii) Netcenter
                      Search query pages, results pages and category pages; and
                      (iv) search panels of My Netscape;

                 (e)  a yellow pages bookmark in the Netcenter "Personal
                      Toolbar" (or similar toolbar);

                 (f)  other promotions to be determined by Netcenter, in its
                      reasonable discretion (e.g., e-mail, newsletters, pop-ups,
                      sidebars, etc.);

                 (g)  a yellow pages link on the CompuServe "Main Menu" and/or
                      on the Compuserve.com home page;

                 (h)  a yellow pages link on CompuServe's "People and Lifestyle"
                      page and "Research" Page;

                 (i)  the "Yellow Pages" search term on CompuServe; and

                 (j)  yellow pages links on the city main pages of DCI and other
                      promotions threaded across DCI at DCI's discretion.

                 In addition to the foregoing, the Steering Committee shall
                 discuss from time to time other promotional opportunities
                 designed to increase pageview traffic. SB acknowledges and
                 agrees that AOL (or any AOL Affiliate) shall have the right to
                 redesign any area of the AOL Network, and if such redesign
                 eliminates or otherwise recharacterizes the area in which any
                 of the foregoing promotions are to appear, AOL (or such AOL
                 affiliate, as applicable) shall provide a comparable
                 promotional placement to SB (as the sole remedy) with such
                 comparable promotional placement to be determined by AOL in its
                 reasonable discretion.

          9.1.2  Design of Promotions.

                 (a)  The specific form, placement and nature of any promotions
                      provided by AOL hereunder of the YP Product will be
                      determined by AOL in its reasonable discretion in
                      accordance with this Agreement.

                 (b)  Any use of SB intellectual property in such promotions
                      shall be in accordance with this Agreement.

     9.2  Branding of the YP Product. Each of the YP Product pages (including,
          without limitation, each page of the AOL YP User Interface that links
          into any YP Databases) shall be primarily branded with one or more AOL
          or AOL Affiliate trademarks, or (to the extent not prohibited by the
          provisions of Section 4 hereof) the marks of any AOL-designated third
          party, in each case to be determined by AOL in its sole discretion.
          Subject to Section 12, AOL, in its sole discretion, shall have the
          right to provide ingredient or other branding to other third parties
          providing sales and/or content services for the YP Product or any
          component or area thereof (including, without limitation, on any
          Results Page).  Notwithstanding the foregoing, on all Results Pages:
          (a) SB shall receive non-clickable, non-linking textual attribution of
          at least a font size of HTML font size = [**]  (i.e. approximately the
          equivalent of [**]) (the "SB Attribution"); and (b) AOL shall include,
          if required by any applicable third party licensing requirements,

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          third party data supplier attribution ("Data Supplier Attribution").
          In the event [**] to the [**] shall [**] with [**] to [**] [**] but
          shall [**] to [**].

     9.3  [**]Regarding Certain AOL Interactive Properties. AOL hereby
          represents and warrants that: (a) as of the Effective Date, AOL
          believes in good faith that [**] which [**]. As soon as reasonably
          possible upon the [**] of such [**], AOL shall distribute the DLA
          Platform [**] in accordance with the terms of this Agreement as they
          relate to distribution of the DLA Platform in AOL Properties generally
          (the "[**]"), provided that SB is in compliance with its material
          obligations set forth in Exhibit C hereto.  In the event that the DLA
          Platform is [**] (or the [**]) due to the [**] (or due to [**]), SB
          shall have the right, provided that SB is in compliance with its
          material obligations set forth in Exhibit C hereto, to terminate this
          Agreement upon [**] prior written notice to AOL, and this Agreement
          will [**] transition to the Wind-Down Period set forth in Section
          20.7; provided further, that upon the [**] SB's termination and
          reimbursement rights set forth in this section 9.3 shall terminate.
          Upon any such termination by SB, (i) AOL shall refund to SB [**] prior
          to such date (and subject to [**] under this Agreement at such time),
          and (ii) SB shall have no further obligation to make [**] (not then
          due and owing) hereunder during the remainder of the Initial Term.

10.  SALES OF DIRECTORY ADVERTISEMENTS AND SELF-PUBLISHED ADS WITHIN THE YP
     PRODUCT

     10.1  DIRECTORY ADVERTISEMENTS.

           10.1.1  AOL Sales Channel Exclusivity. AOL shall have the exclusive
                   right to sell all Directory Advertisements and/or Self-Pub
                   Ads including, without limitation through any AOL Alternative
                   Sales Forces. AOL shall use good faith efforts to maintain a
                   sales force (or designate someone to manage third-party sales
                   forces efforts) designed to sell Directory Advertisements
                   hereunder in a manner consistent with the purposes of Section
                   13(iii). In addition, the Steering Committee will discuss on
                   a periodic basis ways to maximize the effectiveness of the
                   Alternative Sales Forces, the involvement of SB on sales
                   pitches and SB input into the Directory Advertisement sales
                   process generally.

           10.1.2  Sales by Alternative Sales Forces. AOL shall have the
                   exclusive right to select, direct and use any internal or
                   third party sales force ("AOL Alternative Sales Forces") to
                   sell Directory Advertisements or any other items for
                   inclusion in the YP Databases and distribution through the YP
                   Product. Subject to the terms of this Agreement, SB shall
                   maintain and otherwise support data input and transfer
                   methods employed by AOL or any AOL Alternative Sales Force
                   (including, without limitation, different taxonomies of such
                   AOL Alternative Sales Forces subject to Section 6.3). In
                   addition to the foregoing, the Parties shall be responsible
                   for communication and management of all related sales input
                   and reporting to sales channels as set forth in Exhibit C. In
                   addition to the foregoing, AOL shall use good faith efforts
                   to: (1) develop and share with SB regular (no less than [**])
                   sales plans with respect to the YP Product, (2) consider SB
                   input on AOL sales strategy related to the YP Product, and
                   (3) include SB in Directory Advertisement sales pitches to
                   prospective advertisers and sales channels in the YP Product.
                   Upon the prior written approval of AOL and upon terms to be
                   mutually agreed upon by the Parties in writing, SB shall have
                   the right to select, direct and use any internal or third
                   party sales force to sell Directory Advertisements for
                   inclusion in the [**] Database and distribution through the
                   YP Product (any such AOL-approved sales force, "SB
                   Alternative Sales Forces," and together with the AOL
                   Alternative Sales Forces, collectively referred to herein as

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                   the "Alternative Sales Forces"). The Parties acknowledge that
                   the common goals for the development of Alternative Sales
                   Forces are to optimize sales coverage, productivity, and
                   Directory Advertisement Revenues. The sale of Directory
                   Advertisements or Self-Pub Ads hereunder shall not require
                   badges unless otherwise agreed upon in writing by AOL, and
                   the Management Software Tool shall not require such badges
                   unless otherwise agreed upon by AOL.

          10.1.3   [**]Directories.

                   (a)  To the extent that AOL enters into contractual
                        arrangements with third parties who provide Directory
                        Advertisements in category-limited, category-specific
                        [**] for the AOL Properties, (i) AOL shall use
                        commercially reasonable efforts to include in the [**]
                        Database, in accordance with AOL's customary terms and
                        pricing for such [**] enhanced listings, the businesses
                        represented in such third-party's [**], and (ii) if any
                        such business listings are to be included in the [**]
                        Database, the Parties will use commercially reasonable
                        efforts to work together to integrate such business
                        listings into the [**] Database. Any Directory
                        Advertisement Revenues generated from the inclusion of
                        any such business listings as Directory Advertisements
                        in the [**] Database shall be shared between AOL and SB
                        in accordance with Section 18.2.

                   (b)  AOL shall have the right to reference in any promotion
                        on any Results Page (without sharing revenue relating to
                        any such promotion) any third party who offers [**] one
                        of its products or services, provided that (in the case
                        that such Results Pages display [**] Database data) such
                        third party's principal business is not the compilation
                        of such [**] and, provided, further, that (in the case
                        that such Results Pages display [**] Database data) such
                        reference is to such third party and not to such third
                        party's [**]. Notwithstanding the foregoing, AOL shall
                        have the right to reference specific [**] in promotions
                        on any Results Pages displaying [**] Database data if
                        AOL shares with SB the revenue directly related to such
                        promotions (in a manner to be mutually agreed upon by
                        the Steering Committee).

                   (c)  AOL shall have the right to create [**] containing
                        Standard Business Listings, Directory Advertisements,
                        Self-Published Ads and other [**] Database data;
                        provided, however, that AOL shall reasonably consider
                        using the DLA Platform [**](d) For the avoidance of
                        doubt, none of the foregoing restrictions set forth in
                        this Section 10.1.3 shall apply to Results Pages
                        constructed without the use of the DLA Platform.

           10.1.4  Billing, Customer Service and Production.

                   (a)  AOL, the AOL Alternative Sales Forces, or any other
                        party designated by AOL will perform (a) all billing,
                        collection and First Level Customer Service functions
                        related to Directory Advertisements or Self-Published
                        Ads sold by AOL or any AOL Alternative Sales Force
                        and/or (b) all First Level Customer Service functions
                        related to any other AOL Data. SB, any SB Alternative
                        Sales Force, or its agents will perform (a) all billing,
                        collection and First Level Customer Service functions
                        related to Directory Advertisements or Self-Published
                        Ads sold by SB or any SB Alternative Sales Force and/or
                        (b) all Second Level Customer Service functions related
                        to any other SB Data.

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                   (b)  AOL shall have the right to use software tools described
                        in this Agreement (or other software tool provided by
                        SB), which shall comply with the criteria set forth in
                        Exhibit C, to insert the Directory Advertisements into
                        the [**]Database (in accordance with mutually agreed
                        upon procedures and Exhibit C).

                   (c)  In the event that the sale of Directory Advertisements
                        becomes subject to state or federal taxation during the
                        Term, the selling party shall be responsible for
                        collecting and remitting such taxes.

                   (d)  SB will use good faith efforts to regularly spot check,
                        validate and/or screen Directory Advertisements prior to
                        injection or insertion into the [**] Database, and in
                        accordance both with applicable law and policies and
                        procedures to be established by the Steering Committee.
                        Upon notification by AOL or any third party to SB of any
                        violation of such spot checking, validation and/or
                        screening policies (or upon SB's knowledge of any such
                        violation), SB shall remove any such business listing(s)
                        that violate any such policies.

     10.1.5  Training. SB shall provide to AOL and the Alternative Sales Forces
             (as part of the Included SB Services) reasonable training necessary
             to enable AOL and the Alternative Sales Forces to sell Directory
             Advertisements and submit Directory Advertisements for insertion
             into the YP Databases. Any such training period provided by SB
             shall consist of the lesser of (i) [**] per year, or (ii) [**] days
             per Alternative Sales Force (the "Training Minimums"); provided,
             however, that any training beyond the Training Minimums (as
             requested by AOL (on its own behalf or on behalf of any AOL
             Alternative Sales Force)) shall not constitute part of the Included
             SB Services.

11.  ALL-IN SERVICES; CONSULTING AND MARKETING FEES; TECHNOLOGY DEVELOPMENT AND
     SUPPORT; ACCEPTANCE TESTING.

     11.1 ALL-IN SERVICES.  As part of this Agreement, SB shall perform (at no
          cost to AOL): (i) the Included SB Services, and (ii) [**] Hours per
          month of Engineering Hours work during each Year of the License Period
          (the "Monthly [**]-Hour Threshold" and together with the Included SB
          Services, collectively referred to herein as the "All-In Services").

     11.2 CONSULTING AND MARKETING FEES. During the Term, AOL shall pay SB
          consulting and marketing fees for technical, marketing, engineering
          and other services (other than the All-In Services) required to be
          performed by SB hereunder or otherwise mutually agreed upon by the
          Parties from time to time during the Initial Term (including without
          limitation, any Incremental Engineering Hours (as defined in Section
          11.2.2(a) below)) (collectively, the "Consulting and Marketing Fees").

          11.2.1  Consulting and Marketing Fee Hurdle. During the Initial Term,
                  AOL shall pay SB a minimum of Two Million Dollars ($2,000,000)
                  in the aggregate Consulting and Marketing Fees (the
                  "Consulting and Marketing Fee Hurdle"), as follows: (a) [**]
                  within [**] days after the Effective Date and (b) [**] to be
                  paid on each of the six, nine, twelve, fifteen, eighteen and
                  twenty-one month anniversaries of the Effective Date.

          11.2.2  Incremental Engineering Hours; Hourly Caps.

                  (a)  AOL shall pay SB the hourly rates set forth on Exhibit K
                       for any Engineering Hours work carried out by SB above
                       the Monthly [**]-Hour Threshold ("Incremental Engineering

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                       Hours"), as required by this Agreement or otherwise
                       requested by AOL. Such engineering fee hourly rate may be
                       increased by written notice to AOL no more frequently
                       than once per year in accordance with the Engineering Fee
                       Percentage Increase.

                  (b)  SB shall have the right to elect not to perform any
                       Engineering Hours over [**]hours in any month during the
                       License Period (the "[**]-Hour Cap").

                  (c)  AOL and SB shall work together in good faith to
                       prioritize engineering work to be performed by SB
                       pursuant to this Agreement.

                  (d)  All fees paid by AOL to SB for Incremental Engineering
                       Hours shall be credited towards the Consulting and
                       Marketing Fee Hurdle.

                  (e)  Except as otherwise expressly provided in this Agreement,
                       (1) all Engineering Hours work required to be performed
                       by SB pursuant to this Agreement shall be subject to the
                       hourly caps set forth in this Section and (2) SB shall be
                       compensated for all work (other than the All-In Services)
                       required to performed by SB under this Agreement or
                       requested by AOL through the payment by AOL of Consulting
                       and Marketing Fees.

          11.2.3  Marketing and Distribution Services. Notwithstanding the
                  foregoing, any fees (other than any Required Third Party
                  Licensing Fees, to the extent applicable) paid by AOL to SB
                  for marketing and/or distribution activities (or any other
                  activities as may be performed by SB upon AOL's reasonable
                  request, subject to the [**]-Hour Cap) shall be deemed
                  Consulting and Marketing Fees under this Agreement and shall
                  count towards the Consulting and Marketing Fees Hurdle.

     11.3  EXCESS SUPPORT. In the event that SB elects not to perform any
           Engineering Hours work over the [**]-Hour Cap in any month, AOL may
           elect to appoint its own engineers to perform such work, subject to
           the following requirements:

           11.3.1  SB confidential information accessed by AOL-appointed
                   engineers shall be subject to the confidentiality
                   restrictions set forth in this Agreement.

           11.3.2  Prior to such AOL-appointed engineers' commencement of any
                   such work or access to any SB source code, AOL shall provide
                   SB for its prior review and approval, which shall not be
                   unreasonably withheld or delayed, the functional
                   specifications, as well as design, implementation, and
                   testing documentation associated with such work. Without
                   limitation, SB's approval will not be deemed to have been
                   unreasonably withheld if SB reasonably believes that such
                   development or the implementation thereof is likely to have a
                   material adverse impact on the DLA Platform or SB's source
                   code, including without limitation, with respect to the
                   performance, operation, reliability, scalability, or
                   supportability thereof.

           11.3.3  If the development requires access to any SB source code, SB
                   shall have a right to monitor and inspect the AOL-appointed
                   engineers' work in progress and to inspect, run quality tests
                   on, and approve the final development prior to the
                   implementation thereof.

           11.3.4  SB shall be compensated for any Engineering Hours work spent
                   by its employees in connection with the following, without
                   limitation: assisting, instructing, or monitoring such AOL
                   appointed engineer(s), reviewing and

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                   evaluating documentation or code created by AOL appointed
                   engineers, or performing quality or other testing work.

           11.3.5  Ownership of any developments created by AOL-appointed
                   engineers shall be subject to Section 5.3 hereof.

           11.3.6  AOL appointed engineers shall perform development work at
                   SB's premises.

     11.4 DEDICATED RESOURCES. SB shall apply the necessary resources to
          facilitate and perform its duties and obligations under this
          Agreement.  Such resources shall be available for Severity 1 and
          Severity 2 Problems, as defined in Exhibit C, on a 24 hours per day, 7
          days per week basis via pager or other comparable means. Without
          limiting the generality of the foregoing, during the License Period,
          (i) SB shall provide to AOL a full-time-equivalent engineer ("FTE"),
          who shall be available to AOL on a full-time basis (i.e., for at least
          [**]  hours per Year) (the "FTE Hours Commitment").  Such FTE shall be
          located, at AOL's option, either at (a) the AOL facility where other
          AOL employees responsible for the implementation of this Agreement are
          located, or (b) at SB's facilities, to assist AOL in connection with
          the integration of the DLA Platform and the YP Databases into the YP
          Product, technical assistance and the development and/or customization
          of APIs, the AOLYP User Interface, the YP Databases, the DLA Platform,
          etc.  All work performed by such FTE shall be considered Engineering
          Hours for purposes of this Agreement.

     11.5 ACCEPTANCE TESTING FOR INITIAL DLA PLATFORM; TIMETABLE FOR DELIVERY
          AND ACCEPTANCE.

          11.5.1  The initial version of the DLA Platform and [**] Database
                  (excluding any Self Pub tool as set forth in Exhibit D which
                  shall be developed and available after the acceptance testing
                  period for the Initial DLA Platform and [**] Database), as
                  described in the specification attached as Exhibit C (the
                  "Initial DLA Platform"), will be subject to acceptance by AOL
                  in order to determine whether such Initial DLA Platform
                  substantially conforms to such Exhibit.

          11.5.2  Submission.

                  (a)  Following the completion of the development and internal
                       testing of the Initial DLA Platform and [**] Database
                       (which completion shall occur no later than [**] days
                       following the Effective Date) (the "Initial Cutoff
                       Date"), SB shall promptly provide access to the Initial
                       DLA Platform (and [**]Database) to AOL for evaluation and
                       acceptance testing in accordance with the specifications
                       set forth in Exhibit C (which Initial DLA Platform shall
                       include the merge/purge platform, APIs, ad tools and
                       exceptions tools). In the event that AOL does not decide
                       to use (as the principal source of data for the [**]
                       Database within the Initial DLA Platform) the data of
                       SB's existing primary listings data provider, the Parties
                       will discuss an appropriate extension, to the extent
                       necessary, to the Initial Cutoff Date so as to allow for
                       SB to perform its obligations in a manner consistent with
                       this Agreement. Notwithstanding the foregoing, and
                       without limiting SB's performance obligations herein, AOL
                       will work with SB as reasonably necessary prior to the
                       Initial Cutoff Date and during the acceptance testing
                       period to provide feedback on the development and testing
                       of the Initial DLA Platform and [**] Database.

                  (b)  Within [**] after the Effective Date, (i) AOL and SB
                       shall agree upon the requirements for all exception tools
                       related to the Initial DLA Platform, and (ii) AOL shall
                       provide to SB the necessary API documents for geocoding.

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                  (c)  Within [**] after the Effective Date, AOL and SB shall
                       develop and agree upon the data [**].

                  (d)  AOL shall have [**] following the date SB provides AOL
                       with the access referenced in Section 11.5.2(a) to
                       evaluate whether the Initial DLA Platform and the [**]
                       Database function in accordance with the specifications
                       set forth on Exhibit C hereto and without any Severity 1
                       or Severity 2 Problems (as defined on Exhibit C). If AOL
                       reasonably determines that the Initial DLA Platform
                       (and/or the [**] Database) does not function in
                       substantial conformity with the specifications set forth
                       on Exhibit C (and/or without Severity 1 or Severity 2
                       Problems), AOL may reject such version by providing SB
                       with written notice within such [**]period, specifying in
                       detail the reason for rejection.

      11.5.3  If AOL rejects the Initial DLA Platform (and/or the [**]
              Database), then following such rejection, SB shall use
              commercially reasonable efforts to correct (as promptly as
              commercially possible but in any case within [**] thereafter) in
              all material respects, the deficiencies in such Initial DLA
              Platform (and/or [**] Database) that were specified in AOL's
              notice of rejection. AOL shall then have [**] following receipt of
              access to the resubmitted Initial DLA Platform (and/or [**]
              Database) to determine whether such resubmitted version passes
              acceptance testing. The process shall be repeated until the
              Initial DLA Platform (and/or [**] Database) passes AOL's
              acceptance testing subject to the remainder of this Section 11.5.

      11.5.4  In the event that the Initial DLA Platform (and/or [**] Database)
              shall not have passed acceptance testing (for reasons within the
              reasonable control of SB or SB employees, contractors, or agents)
              within [**] days following the Effective Date, then AOL shall have
              the right to terminate this Agreement upon [**] notice to SB and
              AOL shall refund to SB [**].

      11.5.5  In no event shall any version of the YP Product, or modification
              thereto, be offered to AOL Users (other than as a beta test
              version clearly marked as such) until such version or modification
              has been accepted by AOL. If any time period set forth in this
              Section for AOL to perform testing of the Initial DLA Platform (an
              "AOL Testing Period") elapses without notice from AOL to SB of
              either acceptance or failure, AOL will be deemed to have accepted
              the Initial DLA Platform.

     11.5.6   AOL shall launch the YP Product within [**] following acceptance
              of the Initial DLA Platform and [**] Database hereunder; provided,
              however, that in the event that AOL fails to launch the YP Product
              within such [**] period, as SB's sole and exclusive remedy during
              the first [**] ("[**] Period") following the [**] period, the
              Initial Term shall be extended one day for each day beyond the
              expiration of such [**] period in which AOL fails to launch the YP
              Product. Notwithstanding the foregoing, if, upon the expiration of
              the [**] Period, AOL has not launched the YP Product, SB shall be
              entitled to all remedies available hereunder, at law and in
              equity.

     11.6  DEVELOPMENT WARRANTY. SB warrants that the portions of the Initial
           DLA Platform for which SB is responsible (and any SB upgrades,
           modifications or other updates thereto) will operate in substantial
           conformance with the specifications set forth on Exhibit C for the
           duration of the License Period.

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     11.7  COMMUNICATIONS AND CONNECTIVITY. SB will be responsible for all
           communications and connectivity costs and expenses associated with
           the operation of the DLA Platform and the [**] Database (except as
           expressly provided herein), provided that SB shall have no
           responsibility for communications and connectivity costs and expenses
           related to AOL's access to the DLA Platform from its data centers
           through the Internet, or AOL Users' access to the AOL Product. AOL
           acknowledges that, as of the Effective Date, SB's current means of
           connectivity to the Internet (as supplied by Exodus) complies with
           current general industry standards in terms of latency time, data
           packet loss and/or downtime and does not, at this time, require the
           use of a high-speed connection. Notwithstanding the foregoing, in the
           event that AOL reasonably believes that SB's connectivity to the
           Internet (and/or serving of the DLA Platform or [**] Database to AOL
           Users through the Internet) is inferior to general industry standards
           (in terms of latency time, data packet loss or downtime), upon AOL's
           request, SB shall provide (at no cost to AOL) a high-speed connection
           between SB's data center hosting the DLA Platform and [**] Database
           (currently in Boston) to AOL's closest point of presence to SB
           (currently in New York) (collectively, the "AOL POP"); provided,
           however, that AOL shall be responsible for the remainder of the
           connectivity costs from the AOL POP to Virginia. SB will provide all
           computer hardware (e.g., servers, network devices, routers, switches,
           telephones and other similar equipment) and all computer software
           (e.g., web servers, operating systems, applications, databases and
           other similar resources) necessary to make the DLA Platform and the
           [**] Database available to the AOL Network through the Internet. SB
           will utilize a dedicated high-speed connection to maintain quick and
           reliable transport of information to and from the SB data center and
           the Internet.

     11.8  WIRELESS. SB shall support relevant, generally-accepted industry
           standards for wireless and voice portal distribution of the YP
           Product. To the extent SB cannot support such standards or otherwise
           limits AOL's ability to develop wireless or voice portal distribution
           of the YP Product, AOL shall have the right to create a wireless or
           voice portal application for the DLA Platform and/or YP Databases or
           to enter into an agreement with any third party for such purpose. In
           such instance (to the extent reasonably requested by AOL and subject
           to any third party licensing restrictions), SB agrees to assist AOL
           with the integration of such wireless or voice portal application
           into the DLA Platform and/or YP Databases. Notwithstanding the
           foregoing, SB shall have no liability whatsoever for failure to
           support any wireless or voice portal standards unless AOL
           distributes, or notifies SB in writing of its intent to distribute,
           the DLA Platform and/or YP Databases through such wireless or voice
           portal media not less than [**] prior to the launch date. The Parties
           hereby acknowledge and agree that any such wireless distribution
           shall not be subject to the exclusivity provisions set forth in
           Section 12.

12.  EXCLUSIVITY.

     12.1  During the Initial Term, the DLA Platform will be the exclusive
           comprehensive interactive business listing directory database
           platform with national scope (the "Exclusive Product") which is
           promoted and integrated by AOL within the AOL Properties (it being
           understood and agreed by the Parties that prior to the Launch Date,
           AOL may be required to distribute an interim third-party yellow pages
           platform on Netcenter and CompuServe, but that such interim third-
           party platform shall not be distributed on Netcenter and CompuServe
           following the Launch Date). Notwithstanding anything to the contrary
           in this Section 12 (and without limiting any actions which may be
           taken by AOL without violation of or SB's rights hereunder), no
           provision of this Agreement will limit AOL's ability (on or off the
           AOL Network) to: (i) [**] guides, [**] guides or [**] guides; (ii)
           [**] listings, or [**] other than [**] listings; (iii) [**], or any
           [**] on the [**] (it being understood and agreed by the Parties that
           [**] or any similar [**] product (or any reasonably similar successor

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           products) shall [**]; (iv) [**] or AOL Member [**]; (v) subject to
           Section 12.3 below, undertake activities or perform duties pursuant
           to existing arrangements with third parties (or pursuant to any
           agreements to which AOL becomes a party subsequent to the Effective
           Date as a result of Change of Control, assignment, merger,
           acquisition or other similar transaction); (vi) [**] to any third
           party on any area of the AOL Properties; (vii) [**] any third party
           (the "Acquiring Third Party") for the primary purpose of acquiring
           AOL Users whereby such party is allowed to promote or market products
           or services to AOL Users that are acquired as a result of such
           agreement (the "Specially Acquired AOL Users"), provided that the
           Acquiring Third Party may [**] to Specially Acquired AOL Users and
           [**] generally; (viii) [**] relating to any third party [**] provided
           that [**] the third party [**] for the [**], it being understood and
           agreed that [**] may be provided by a third party [**] but that [**]
           therein; (ix) [**] or other [**]; (x) [**] (to the extent a third
           party [**] for such [**]; or (xi) [**] (e.g., [**], etc.). AOL hereby
           agrees that it shall [**] contrary to the spirit of this Section 12,
           [**]. AOL acknowledges and agrees to implement the provisions of this
           Section 12.1 in good faith. In the event that SB reasonably believes
           during the Initial Term that any of the [**] set forth in this
           Section, as SB's sole and exclusive remedy hereunder, SB shall have
           the right to submit such issue to the Steering Committee (and /or the
           Management Committee) for resolution of such issue, and the Parties
           shall work together in good faith (as guided by the principles of
           Section 13), in an effort to resolve such issue to the reasonable
           satisfaction of both Parties.

     12.2  The Parties further agree that no provision of this Agreement shall
           require that [**](provided that, subject to Section 12.1 above, [**].
           In addition, to the extent that any third party does [**] other
           products or services), [**] such party (on or off the [**] such
           party's [**] Notwithstanding anything to the contrary herein, in the
           event that a third party with whom AOL concludes an agreement for the
           distribution of AOL products conditions such distribution [**], AOL
           shall have the right [**] and/or [**] with such AOL products being
           distributed.

     12.3  With respect to clause (v) in Section 12.1 above, it is further
           understood and agreed that, as of the Effective Date, there are
           existing AOL relationships with third parties which do not
           specifically prohibit the distribution of a Competitive Product on
           the AOL Properties by such parties ("Existing Arrangements"), [**]
           excluding the Existing Distribution Restrictions set forth in Section
           9.3 hereof, (a) there is no such material Existing Arrangement with a
           value in excess of [**] Dollars (US $[**]) (excluding the existing
           arrangement containing the Existing Distribution Restrictions
           referenced in Section 9.3 hereof) that [**] a third party's [**] on
           the AOL Properties and (b) AOL is not aware of any third party
           operating under a material Existing Arrangement with a value in
           excess of [**] Dollars (US $[**]) (excluding the existing arrangement
           containing the Existing Distribution Restrictions referenced in
           Section 9.3 hereof) that intends to [**] on the AOL Properties.

 13. STEERING COMMITTEE.  Within [**]  days following the Effective Date, the
     Parties shall form a steering committee (the "Steering Committee")
     consisting of (unless otherwise mutually agreed upon by the Parties) the
     following representatives from each Party: one product manager,

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     one operations manager and to the extent agreed upon by the Parties, a
     senior executive of at least the title of vice president or his/her direct
     report (or someone of his or her comparable responsibility).  Among other
     things, the Steering Committee will work together in good faith and use
     commercially reasonable efforts to (i) maintain the relationship between
     the Parties, (ii) preserve continuity of communication, and (iii) work
     together to achieve the collective objectives of the Parties (e.g.,
     providing a unique, comprehensive and compelling yellow pages offering to
     AOL Users, maximizing revenues, providing technological and sales support,
     etc.).  The Steering Committee also shall provide a point of escalation for
     and resolution of minor differences or disputes between the Parties.  The
     Steering Committee shall meet on a regular basis during the Term (and in no
     event less than quarterly) and shall use good faith efforts to resolve any
     disputes submitted to it as promptly as possible (and in any event, in less
     than [**] days).

 14. COMPONENT PRODUCTS AND TOOLS. Upon request by AOL, SB shall enable the use
     of AOL's tools and technology for e-mail, chat, and search functionality
     (and for AOL Instant Messenger or any other instant messaging service) in
     connection with the YP Product.  AOL and SB agree to consider in good faith
     each other's products and services when evaluating new technologies and
     offerings for application outside of the scope of the YP Product.
     Specifically, SB shall consider in good faith offering AOL's tools and
     technology for email, chat, instant messaging and search functionality on
     the SB Standard Site.  AOL hereby grants SB a license to market,
     distribute, display and promote the AOL tools and technology specifically
     provided to SB in furtherance of this Section 14.  In no event shall SB
     have any right to offer any mapping, routing, traffic alert or related
     functionality or content on or through the DLA Platform, any YP Database
     and/or the YP Product other than that of MapQuest.com, Inc., unless
     expressly agreed to in writing by AOL, provided that such restriction shall
     not apply to third party web sites to which any SB Data or Third-Party
     Licensed Data link.

15.  NAVIGATION RIGHTS. In cases where an AOL Member performs a search for SB
     through any search or navigational tool or mechanism that is accessible or
     available through the AOL Network (e.g., promotions, Keyword Search Terms,
     navigation bars or any other promotions or navigational tools) other than
     an AOL Member typing "http://www.switchboard.com" (or any variation of the
     URL for "switchboard" (i.e., www.switchboard.com, www.cbs.switchboard.com,
     or www.cbsswitchboard.com ("Switchboard URLs")) AOL shall have the right to
     direct such AOL Member to the YP Product.  Notwithstanding the foregoing,
     AOL shall have no rights, express or implied, to take any action or direct
     users in any way that, in the absence of this provision, would be
     constitute an infringement of SB's or its licensors' trademarks or service
     marks.  In the event that AOL Users type in  "Switchboard" as an AOL
     Keyword or any Switchboard URLs without the "www" prefix), AOL shall have
     the right to direct such users either (i) to a mutually agreeable interim
     explanation page or (ii) an error page.

16.  PARTNER MARKETING.  At AOL's request, SB will, subject to any third party
     contractual restrictions in existence as of the Effective Date, consider in
     good faith the development and implementation of partner marketing
     campaigns for the acquisition of AOL Users, for which AOL will pay SB
     customary bounty fees to be mutually agreed upon by the Parties for each
     Qualified New Member.

17.  ACQUISITION OF SB STOCK.

     Concurrently with the execution of this Agreement, the Parties shall
     execute a Stock Purchase Agreement in the form attached hereto as Exhibit G
     (the "Stock Purchase Agreement").

18.  PAYMENTS.

     18.1  GUARANTEED PAYMENTS.  Subject to Section 20.7, SB shall pay AOL fixed
           payments of Twenty Six Million Dollars ($26,000,000) (collectively,
           the "Fixed Payments") as follows:

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          18.1.1  Thirteen Million Dollars (US $13,000,000) on the Effective
                  Date;

          18.1.2  [**] Dollars (US $[**]) upon the occurrence of the [**] (as
                  defined in Section [**]), provided that in no event shall such
                  payment be due earlier than the [**] anniversary of the
                  Effective Date; and

          18.1.3  [**] Dollars (US $[**]) on (i) the [**] anniversary of the
                  Effective Date (in the event that the [**] has not occurred
                  prior to such date), or (ii) the [**] anniversary of the
                  Effective Date (in the event that the [**] has occurred prior
                  to the [**] anniversary of the Effective Date).

          18.1.3  The Parties entered into an Advertising Insertion Order
                  Agreement ("Insertion Order") dated October 1, 2000, under
                  which:

                  (i) SB is obligated to make monthly guaranteed payments in the
                  amount of [**]US $[**] to AOL for textual sponsorship on
                  Netscape Inventory as defined therein; and

                  (ii) SB provides data for the Netscape yellow pages product.

          Whereas SB has made one payment of $[**] under the Insertion Order,
          and whereas the Parties acknowledge and agree that such Insertion
          Order shall terminate upon execution of this Agreement (or as soon as
          reasonably practicable thereafter to permit SB to comply with its
          obligations under this Agreement), SB shall be credited with a like
          amount of $[**] against the Guaranteed Payments required under this
          Section 18.1 and SB shall not be responsible for any further payments
          under the Insertion Order.

    18.2  DIRECTORY ADVERTISEMENT REVENUES.  The Parties shall share all
          Directory Advertisement Revenues in accordance with the following
          allocation schedule:

          18.2.1  For Directory Advertisement Revenues generated up to and
                  including $[**] with any [**], AOL shall receive [**]% of such
                  revenues and SB shall receive [**]% of such revenues,
                  respectively.

          18.2.2  For Directory Advertisement Revenues generated above $[**]
                  with any [**], AOL shall receive [**]% of such revenues and SB
                  shall receive [**]% of such revenues, respectively.

          18.2.3  "Directory Advertisement Revenues" shall mean gross revenues
                  recognizable by AOL from the sale or license by AOL (or by any
                  AOL Alternative Sales Force), of the items listed in (a)-(d)
                  below, less in each case, any applicable taxes, or applicable
                  advertising sales commissions payable to AOL or any third
                  party, and/or uncollectable amounts:

                  (a)  Directory Advertisements;

                  (b)  Self-Published Ads;

                  (c) Any fees (e.g., slotting fees, exclusivity fees, branding
                      fees) paid to AOL by any of its Alternative Sales Forces
                      that are directly related to the sale of Directory
                      Advertisements (if applicable);

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                  (d) Any Incremental Net Revenue as set forth in Sections
                      18.2.4, and Additional DA Upsells revenues as set forth in
                      Section 18.2.6, and any Specifically Attributed Revenues
                      as set forth in Section18.2.7 of this Agreement.

          "Directory Advertisement Revenues" shall not include (x) any [**]
          consideration (e.g., where AOL [**]  Directory Advertisements for[**]
          consideration) or (y) except as provided in Section 18.2.7, revenues
          generated from [**]  transactions (e.g., where an AOL partner pays for
          [**]  on the AOL Network and receives Directory Advertisements as part
          of (but not the [**] of) such arrangement).

          18.2.4  Incremental Net Revenue Share Opportunity. Prior to the [**],
                  all Incremental Net Revenues shall be deemed Directory
                  Advertisement Revenues for purposes of Section 18.2, and shall
                  be shared with SB in accordance with such section. For
                  purposes of this Section 18.2, "Incremental Net Revenues"
                  shall mean all revenues collected by AOL from the direct sale
                  by AOL (following the Effective Date and until the [**]) of
                  enhanced business listings into the then-current AOL yellow
                  pages product on the AOL Service, AOL.com and Digital City,
                  but (a) specifically excluding any guaranteed [**] received by
                  AOL, and (b) less any costs of [**] borne by AOL and all [**]
                  and/or [**] amounts paid [**].

          18.2.5  Sales Commissions. In instances where Directory Advertisements
                  sold under this Agreement are sold directly by AOL (or any of
                  its employees, agents or contractors), any sales commission
                  related thereto shall be [**]%, unless otherwise mutually
                  agreed to by the Parties in writing. To the extent Directory
                  Advertisements are sold by an Alternative Sales Force, any
                  sales commission paid to such Alternative Sales Force shall
                  not exceed [**]% of such sale (unless otherwise mutually
                  agreed to by the Parties in writing or required by applicable
                  law). Notwithstanding the foregoing, unless otherwise agreed
                  upon by the Parties in writing, AOL shall not have the right
                  to receive any commissions from the sale of any Directory
                  Advertisements other than commissions from the direct sale of
                  Directory Advertisements to third-party merchants or
                  advertisers (or their representatives).

          18.2.6  Directory Advertisement Sales Packages; Additional Upsells.
                  Within [**] days following the Effective Date, the Parties
                  shall agree to the Directory Advertisement Sales Packages. The
                  Steering Committee shall determine from time to time what
                  additional products, services, or inventory that the Parties
                  or their Alternative Sales Forces shall sell as part of
                  Directory Advertisement packages ("Additional DA Up-sells").
                  Such Additional DA Up-sells shall be designed to enhance or
                  increase the prominence or distribution of a Directory
                  Advertisement. All revenues received by either Party (and/or
                  their Alternative Sales Channels) in connection with such
                  Additional DA Up-sells shall be shared by the Parties in
                  accordance with Section 18. Any features or functionality to
                  which the Parties (or the Steering Committee) cannot agree to
                  include as part of such Directory Advertisement packages shall
                  not constitute Additional DA Up-sells. Either Party shall have
                  the right to escalate to the Steering Committee any disputes
                  between the Parties as to whether certain features or
                  functionality should constitute Additional DA Up-sells, in
                  accordance with Section 13 hereof.

          18.2.7  Sharing of Revenues Generated from the Sale of Bundled
                  Directory Advertisement or Self-Published Ad Sales Packages.
                  When AOL or any AOL Alternative Sales Force sells Directory
                  Advertisements or Self-Published Ads as part of a bundled
                  package which may include other products, services or
                  inventory, AOL only shall be obligated to share with SB
                  (pursuant to this Section 18.2) those cash payments (if
                  applicable) received by AOL in consideration for

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                  (and specifically attributed to) such Directory Advertisements
                  or Self-Published Ads ("Specifically Attributed Revenues"), as
                  the same are customarily priced (including any customary
                  discounts with respect to such pricing) outside the bundle.

          18.2.8  Payment of Directory Advertisement Revenues. AOL shall pay to
                  SB all Directory Advertisement Revenues collected or received
                  by AOL and owed to SB as described herein on a quarterly
                  basis. AOL will use commercially reasonable efforts to make
                  such payments within [**] days following the end of the
                  quarter in which such amounts were generated, but shall make
                  such payments in no event later than [**] days following the
                  end of the quarter in which such amounts were generated.

    18.3  LATE PAYMENTS; WIRED PAYMENTS; PAYMENT CONTACT.  All amounts owed
          hereunder not paid when due and payable (other than amounts which are
          the subject of a good faith dispute) shall bear interest from the date
          such amounts are due and payable at the prime rate of Citibank N.A.
          per annum in effect at such time. All payments required to be made to
          AOL hereunder shall be paid in immediately available, non-refundable
          (except as otherwise expressly set forth herein) U.S. funds wired to
          the "America Online" account, Account Number [**].  All payments
          required to be made to SB shall be paid in immediately available, non-
          refundable (except as otherwise expressly set forth herein) U.S. funds
          wired to the "Switchboard Incorporated" account, Account Number [**].

    18.4  AUDITING RIGHTS.  Each Party shall maintain complete, clear and
          accurate records of all expenses, revenues, fees, and other amounts
          collected in relation to the DLA Platform or [**] Database to the
          extent that same are relevant to any obligation of either Party to
          make payments hereunder. For the sole purpose of ensuring compliance
          with either Party's payment obligations under this Agreement, each
          party shall have the right to conduct, through a mutually agreeable
          independent auditor from an accounting firm with a national
          reputation, a reasonable and necessary inspection of portions of the
          books and records of the other, to the extent they are relevant to
          such payment obligations.  Any such audit may be conducted after [**]
          business days prior written notice to the party being audited.  Such
          audits may be conducted during the Term and any Wind Down Period, and
          for a period of [**] thereafter, but no more than once in any [**]
          period. The Party conducting the audit shall bear the expense of any
          audit conducted pursuant to this Section 18.4 unless such audit shows
          an error in such Party's favor amounting to a deficiency to such Party
          in excess of [**]  percent ([**] %) of the actual amounts paid and/or
          payable to such Party hereunder, in which event the audited Party
          shall bear the reasonable expenses of the audit. The audited Party
          shall pay the Party performing the audit the amount of any deficiency
          discovered within [**]  days after receipt of notice thereof from the
          auditing Party.

    18.5  REPORTS. Each Party shall provide the other Party with detailed sales
          reports regarding revenue generated from the sale of Directory
          Advertisements under this Agreement in a form and at times to be
          mutually agreed upon by the Parties. SB shall provide to AOL a list of
          all new and existing Directory Advertisements or Self-Pub Ads sold by
          AOL or any AOL Alternative Sales Force on a periodic basis to be
          agreed upon by the Parties.  This list shall be in a format agreed
          upon by the Parties (e.g., Microsoft Excel) and shall include selected
          fields, which at a minimum may include customer name, address, phone
          number, heading categories, reach, and billing information (and any
          other data as may be reasonably requested by AOL), entered through any
          software tool or any other software tool provided by SB.  Other
          reports, in a form and at times to be mutually agreed by upon by the
          Parties, and to be provided by SB or AOL as described above, shall at
          a minimum include: SB reports to AOL regarding (a) server availability
          (e.g., uptime and downtime) and

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          (b) the number of listings by heading (sorted by total number
          nationally and total number by zip code).

    18.6  REVENUE SHORTFALL.

          18.6.1 [**]  Look-Back.

                 In the event that, as of the [**] anniversary of the Effective
                 Date, Directory Advertising Revenues generated during the prior
                 [**] period are less than [**] Dollars (US $[**]), then this
                 Agreement shall terminate on the [**] anniversary of the
                 Effective Date and proceed to the Wind-Down Period in
                 accordance with Section 20.7 below; provided, however, that
                 either Party shall have the right to override such termination
                 by providing notice (no later than the [**] anniversary of the
                 Effective Date) to the other Party (which such notice shall be
                 binding on both Parties) of its intent to override such
                 termination and by paying, no later than the [**] anniversary
                 of the Effective Date, (a) in the case of SB, [**] Dollars (US
                 $[**]) to AOL to extend the Agreement for an additional [**]
                 period (the "Year [**] SB Extension Payment") or (b) in the
                 case of AOL, an amount equal to the difference between (x) [**]
                 Dollars minus (y) the share of the Directory Advertisement
                 Revenues earned by SB pursuant to Section 18.2 during the prior
                 [**] period plus any [**] paid by AOL to SB during such period.
                 In the event SB elects to continue this Agreement in accordance
                 with this Section 18.6.1, the share of Directory Advertisement
                 Revenues (as set forth in Section 18.2 above) shall be shared
                 in accordance with Section 18.2.1 until such time as SB earns
                 back an amount (when Directory Advertisement Revenues earned by
                 SB during such Year are added to any [**] earned by SB during
                 such Year) equal to the Year [**] SB Extension Payment
                 (collectively, the "Year [**] Extension Payment Earn-Back").
                 Upon the completion of the Year [**] Extension Payment Earn-
                 Back, the Directory Advertisement Revenue share shall be paid
                 in accordance with Section 18.2.2.

          18.6.2 [**] Look-Back.

                 In the event that, as of the [**] anniversary of the Effective
                 Date, Directory Advertising Revenues generated during the prior
                 [**] period, are less than [**] Dollars (US $[**]), then this
                 Agreement shall terminate on the [**] anniversary of the
                 Effective Date and proceed to the Wind-Down Period in
                 accordance with Section 20.7 below; provided, however, that
                 either Party shall have the right to override such termination
                 by providing notice (no later than the [**] anniversary of the
                 Effective Date) to the other Party (which such notice shall be
                 binding on both Parties) of its intent to override such
                 termination and by paying, no later than the [**] anniversary
                 of the Effective Date, (a) in the case of SB, [**] Dollars (US
                 $[**]) to AOL to extend the Agreement for an additional [**]
                 period (the "Year [**] SB Extension Payment"), or (b) in the
                 case of AOL, an amount equal to the [**] (x) [**] Dollars [**]
                 (y) the share of the Directory Advertisement Revenues earned by
                 SB pursuant to Section 18.2 during the prior [**] period plus
                 any [**] paid by AOL to SB during such period. In the event SB
                 elects to continue this Agreement in accordance with this
                 Section 18.6.2, the share of Directory Advertisement Revenues
                 (as set forth in Section 18.2 above) shall be shared in
                 accordance with Section 18.2.1 until such time as SB earns back
                 an amount (when Directory Advertisement Revenues earned by SB
                 during such Year are added to any [**] earned by SB during such
                 Year) equal to the Year [**] SB Extension Payment
                 (collectively, the "Year [**] Extension Payment Earn-Back").
                 Upon the completion of the Year [**] Extension Payment Earn-
                 Back, the Directory Advertisement Revenue share shall be paid
                 in accordance with Section 18.2.2.

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         18.6.3  General. Upon any termination set forth in this Section, the
                 Parties (at AOL's election) will proceed to the Wind-Down
                 Period set forth in Section 20.7. The Parties acknowledge that
                 each shall use good faith efforts to meet proposed revenue
                 targets as set forth above.

19.  CONFIDENTIALITY.

     19.1  Each Party acknowledges that Confidential Information may be
           disclosed to the other Party during the course of this Agreement.
           Each Party agrees that it will take reasonable steps, at least
           substantially equivalent to the steps it takes to protect its own
           proprietary information, during the term of this Agreement, and for a
           period of three years following expiration or termination of this
           Agreement, to prevent the duplication or disclosure of Confidential
           Information of the other Party, other than to its employees or agents
           as such may be reasonably related to performance or other data under
           this Agreement. Notwithstanding the foregoing, neither Party may
           issue a press release or other disclosure containing Confidential
           Information without the consent of the other Party, unless and to the
           extent such disclosure is required by law, rule, regulation or
           government or court order. In such event (with the sole exception of
           (a) a SB Form 8-K filing to be made with the Securities and Exchange
           Commission ("SEC") in connection with the announcement of the
           execution of this Agreement, which Form 8-K filing SB has afforded
           AOL a reasonable period of time to review under the circumstances and
           (b) the mutually agreed-upon press release to be issued by the
           Parties in connection with such announcement), the disclosing Party
           will provide at least five (5) business days prior written notice of
           such proposed disclosure to the other Party unless otherwise required
           by law or mutually agreed-upon by the Parties). Further, in the event
           such disclosure is required of either Party under the laws, rules or
           regulations of the Securities and Exchange Commission or any other
           applicable governing body, such Party will, in the reasonable
           discretion of such Party, upon good faith consultation with the other
           Party, (i) redact portions of this Agreement to the fullest extent
           permitted under applicable laws, rules and regulations and (ii)
           submit a request to the SEC or such governing body that such portions
           of this Agreement receive confidential treatment under the laws,
           rules and regulations of the Securities and Exchange Commission or
           otherwise be held in the strictest confidence to the fullest extent
           permitted under the laws, rules or regulations of any other
           applicable governing body. The foregoing sentence shall not restrict
           the ability of either Party to disclose Confidential Information to
           the extent such Party reasonably believes such disclosure is required
           pursuant to applicable law or stock exchange requirements.

     19.1  Notwithstanding the foregoing, SB shall not be prohibited hereunder
           from using any Confidential Information consisting solely of ideas,
           concepts, methodologies, processes, techniques, skills, experience
           and know-how (collectively "residuals") that: (i) are learned by SB
           from AOL in the course of performance of its obligations under this
           Agreement and mentally retained in the unaided memories of SB's
           employees and not intentionally memorized for the purpose of later
           recording or use and (ii) do not, at the time of SB's use, provide
           AOL or any AOL Affiliate with a material competitive advantage;
           provided that "material competitive advantage" shall not be deemed to
           exist where it would not be recognized in the industry by engineers
           skilled in the art of software and database architecture that such
           residual represents significant technical or business innovation
           having value as a trade secret. For purposes of this paragraph, a
           residual shall not be deemed to have a "material competitive
           advantage" unless it has a measurable impact on AOL's competitive
           standing or performance in the market.

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20.  TERM; RENEWAL; TERMINATION.

     20.1  TERM. Unless earlier terminated as set forth herein, the initial term
           of this Agreement shall commence on the Effective Date and end on
           December 11, 2004 (the "Initial Term"). To the extent that the
           Parties mutually agree in writing to renew this Agreement upon
           expiration of the Initial Term (each such renewal term, a "Renewal
           Term"), the Renewal Term(s), together with the Initial Term, shall be
           collectively referred to herein as the "Term."

     20.2  TERMINATION FOR BREACH. Except as expressly provided elsewhere in
           this Agreement, either Party may terminate this Agreement by written
           notice at any time in the event of a material breach of the Agreement
           by the other Party which remains uncured after [**] written notice
           thereof to the other Party (or such shorter or longer cure period as
           may be specified elsewhere in this Agreement); provided that the cure
           period with respect to any scheduled payment hereunder shall be [**]
           from the date for such payment provided for herein. Notwithstanding
           the foregoing, in the event of any material breach of a provision
           that requires action to be completed within an express cure period
           shorter than [**], either Party may terminate this Agreement if the
           breach remains uncured after written notice thereof to the other
           Party and expiration of such express cure period.

     20.3  TERMINATION FOR BANKRUPTCY/INSOLVENCY. Either Party may terminate
           this Agreement immediately following written notice to the other
           Party if the other Party (i) ceases to do business in the normal
           course, (ii) becomes or is declared insolvent or bankrupt, (iii) is
           the subject of any proceeding related to its liquidation or
           insolvency (whether voluntary or involuntary) which is not dismissed
           within [**] or (iv) makes an assignment for the benefit of creditors.

     20.4  TERMINATION ON CHANGE OF CONTROL INVOLVING SB. In the event of a
           Change of Control of SB in which SB is acquired by an Interactive
           Service, AOL shall have the right to terminate this Agreement upon
           [**] notice to SB (and in the event of such termination, this
           Agreement will proceed to the Wind-Down Period as set forth in
           Section 20.7).

     20.5  ACQUISITION BY AOL OF A COMPETITIVE PRODUCT AND DISTRIBUTION OF SUCH
           PRODUCT ON THE AOL PROPERTIES DURING THE INITIAL TERM. In the event
           that AOL purchases a Competitive Product provider, AOL, in its sole
           discretion, may terminate this Agreement at any time following the
           [**] anniversary of the Effective Date upon [**] months prior written
           notice to SB (the "[**] Period"); provided that (i) during such [**]
           Period, this Agreement shall continue in accordance with its terms,
           except that SB shall have no obligation to make further Fixed
           Payments pursuant to Section 18.1, and (ii) AOL pays to SB an amount
           equal to [**] Dollars (US $[**]) upon the effectiveness of the
           termination of this Agreement.

     20.6  PRESS RELEASES. Each Party shall submit to the other Party, for its
           prior written approval, which shall not be unreasonably withheld or
           delayed, any press release or similar public statement ("Press
           Release") relating to the transactions contemplated hereunder (e.g.,
           an announcement of an RBOC partnership with the Parties to sell
           Directory Advertisements into the DLA Platform), provided that,
           subsequent to the initial Press Release, factual references by either
           Party to the existence of a business relationship between the Parties
           shall not require approval of the other. Notwithstanding the
           foregoing, either Party may issue Press Releases and other
           disclosures as required by law without the consent of the other Party
           and in such event, the disclosing Party shall provide at least [**]
           business days prior written notice of such disclosure, except as
           otherwise required by law or mutually agreed upon by the Parties. The
           failure by one Party to obtain the prior written approval of the
           other Party prior to issuing a Press

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           Release (except as required by law) shall be deemed a material breach
           of this Agreement. Subject to any existing third party contractual
           restrictions, the Parties shall issue a mutually agreed upon Press
           Release with respect to the execution of this Agreement promptly
           following the Effective Date.

     20.7  TRANSITION AFTER TERMINATION. Upon any termination or expiration of
           this Agreement, this Agreement shall continue for a period to be
           determined by AOL, but not to exceed [**] years after such
           termination or expiration (the "Wind-Down Period"); provided,
           however, that the Wind-Down Period shall extend a minimum of [**]
           months in the event that this Agreement is terminated pursuant to
           Sections 9.3, 18.6 or 20.5 hereof (the "Mandatory Wind-Down Period").
           In the event of any termination of this Agreement by SB pursuant to
           Section 9.3 or pursuant to Section 20.2 due to a material breach by
           AOL, SB shall have the right to limit the Wind-Down Period to [**]
           months. AOL shall have the right to terminate any Wind-Down Period
           upon [**] days written notice to SB (provided that in the case of any
           Mandatory Wind-Down Period, any such termination shall not take
           effect until the expiration of the minimum duration required by this
           Section for such Mandatory Wind-Down Period). During the Wind-Down
           Period (including, without limitation, any Mandatory Wind-Down):

           20.7.1 SB shall continue to provide AOL with the License on the same
                  terms and conditions as during the Term;

           20.7.2 AOL shall pay SB the same share of Directory Advertisement
                  Revenues to prior to the which SB was entitled (pursuant to
                  Section 18.2) immediately effective date of terminatiON or
                  expiration of the Term;

           20.7.3 AOL shall not be obligated to maintain the exclusivity set
                  forth in Section 12 of this Agreement;

           20.7.4 AOL shall pay SB for any Engineering Hours work (other than
                  the All-In Services), at the hourly engineering fee rates set
                  forth in Exhibit K, which rates shall be subject to increase
                  as set forth in Section 11.2.2(a);

           20.7.5 SB shall have the right to elect not to perform any
                  Engineering Hours over [**]hours in any month during the Wind
                  Down Period, provided that AOL may elect to appoint its own
                  engineers to perform such development, subject to the
                  provisions of Sections 11.3;

           20.7.6 SB shall have no obligation to pay any further Fixed Payments
                  (as defined in Section 18.1) not then due and owing; and

           20.7.7 SB shall have the right to subcontract its obligations
                  hereunder to third parties approved by AOL in writing in
                  advance (such approval not to be unreasonably withheld),
                  provided that SB shall remain responsible to AOL for the
                  performance of its obligations hereunder.

    20.8  NON-SOLICITATION OR HIRE. Except as mutually agreed upon by the
          Parties in writing, during the Term and any Wind Down Period, and for
          a period of [**] thereafter, neither Party, nor any party acting in
          concert with such Party, shall solicit for hire, as a consultant,
          employee, or otherwise, or engage the services of any person (a) then
          employed by, or within the prior [**]  period employed by, the other
          Party and (b) who performed work or services on behalf of the other
          Party under this Agreement.

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    20.9  AOL STANDARD POLICIES. In connection with the performance of its
          obligations under this Agreement, SB shall comply with the AOL
          Standard Policies, which AOL shall make available to SB, in its
          discretion, either online or in printed form.

21.  STANDARD TERMS.  The Parties acknowledge and agree that each of the
     Exhibits A through J  hereto is made a part of this Agreement.

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IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the
Effective Date.

AMERICA ONLINE, INC.        SWITCHBOARD INCORPORATED

By:  /s/ David M Colburn              By: /s/ Dean Polnerow
    -----------------------              --------------------
Name:   David M. Colburn              Name: Dean Polnerow
     ----------------------                ------------------

Title: President, Business Affairs    Title: President
       ----------------------------          -----------------

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                                   EXHIBIT A

                                  Definitions

The following definitions will apply to this Agreement:

ADDITIONAL DA UPSELLS.  See Section 18.1.

AFFILIATE. Any agent, distributor or franchisee of AOL or SB, or an entity that,
directly or indirectly, controls, is controlled by, or is under common control
with AOL or SB, including any entity in which AOL or SB holds, directly or
indirectly, at least a nineteen percent (19%) equity interest.

ALL-IN SERVICES.  See Section 11.1.

ALTERNATIVE SALES FORCES.  See Section 10.1.2(a).

AOL ADVERTISEMENT REJECTION RIGHT.  See Section 3.1.2.

AOL ALTERNATIVE SALES FORCES.  See Section 10.1.2.

AOL FEATURES OR FUNCTIONALITY. Any copyright interest in features and/or
functionality of AOL or any AOL Affiliate, whether in existence on the Effective
Date or created, developed or acquired (other than those created or developed by
or acquired from SB) by AOL or any AOL Affiliate thereafter (including without
limitation, AOL Instant Messenger, AOLTV, ICQ, AOL Calendar, AOL e-mail, etc.).

AOL INTERACTIVE SITE.  Any Interactive Site which is managed, maintained, owned
or controlled by AOL, any AOL Affiliate or any of their agents.

AOL-Licensed Data.  Any Directory Advertisements, Standard Business Listings or
other listings licensed by AOL from any third party for inclusion in any YP
Database during the License Period.

AOL LOOK AND FEEL.  The elements of graphics, design, organization,
presentation, layout, user interface, navigation and stylistic convention
(including the digital implementations thereof) which are generally associated
with Interactive Sites within the AOL Service or AOL.com, or with any
Interactive Site of any AOL Affiliate.

AOL MEMBER.  Any authorized user of the AOL Service, including any sub-accounts
using the AOL Service under an authorized master account.

AOL NETWORK.  (i) The AOL Properties, and (ii) any other product or service
owned, operated, distributed or authorized to be distributed by or through AOL
or its affiliates worldwide (and including those properties excluded from the
definitions of the AOL Properties).  It is understood and agreed that the rights
of SB relate only to the AOL Properties and not generally to the AOL Network.

AOL PROPERTIES.  Netcenter (excluding Netscape NetBusiness) and CompuServe. Upon
written notification to SB by AOL and the distribution of the DLA Platform in
connection with the YP Product on the AOL Service, AOL.com and Digital City in
accordance with and subject to Section 9.3 of this Agreement, each such property
shall thereafter be deemed an "AOL Property" for purposes of this Agreement, and
will be subject to Section 12 hereof.  AOL will use good faith efforts to
discuss with SB

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the possibility of distributing the DLA Platform on other AOL Interactive Sites
(i.e., other than Netcenter, AOL Service, AOL.com, CompuServe and Digital City),
and upon the written mutual agreement by the Parties, such Interactive Sites
shall be included in the term "AOL Properties" for purposes of this Agreement
subject to (without limitation) Sections 11.8 and 12 hereof.

[**].  See Section 9.3.

AOL SERVICE. The standard narrow-band U.S. version of the America Online brand
service (whether delivered through a narrow band or broadband connection) as the
same may be modified, or any successor site thereto, specifically excluding (a)
any other AOL Interactive Site (e.g., AOL.com, NetCenter (including Netscape
NetBusiness), MovieFone.com, etc.) or AOL Interactive Service (e.g., CompuServe,
ICQ, AOL Instant Messenger, etc.), (b) the international versions of an America
Online service (e.g., AOL Japan), (c)  "You've Got Pictures(TM)," "Shop@,"
"NetMail(TM),"  "Love@AOL",  "AOL Hometown," "AOL PLUS", "My News" or any
similar independent product, service or property which may be offered by,
through or with the U.S. version of the America Online brand service, (d) any
programming or Content area offered by or through the U.S. version of the
America Online brand service over which AOL does not exercise substantially
complete operational control (including, without limitation, content areas
controlled by other parties and member-created content areas), (e) any white
pages, classifieds or other search, review services or non-Competitive Products
offered by or through the U.S. version of the America Online brand service, (f)
any property, feature, product or service which AOL or its affiliates may
acquire subsequent to the Effective Date and (g) any other version of an America
Online service which is materially different from the standard narrow-band U.S.
version of the America Online brand service, by virtue of its branding,
distribution, functionality, Content or services (excluding Content or services
of the type provided by SB under this Agreement), including, without limitation,
any private-label or co-branded version of the service or any version
distributed primarily through any broadband distribution platform or through any
platform or device other than a desktop personal computer.

AOL STANDARD POLICIES.  AOL's then-current advertising, content and privacy
policies and Standard Terms of Service (collectively "Standard Policies").

AOL USER.  Any user of the AOL Network.

AOLYP USER INTERFACE.  The Search Screen, all portions of search results pages
other than the area where the results themselves appear, any portions of pages
displaying maps and or driving directions other than the area where the map or
directions appear, any portions of any category validation or category selection
page other than the area where the category choices appear, and all portions of
any page giving an error message or message stating that there are no results
other than the area where the message itself appears.

AOL.COM.  AOL's primary Internet-based Interactive Site accessible through the
URL www.aol.com or marketed under the "AOL.COM(TM)" brand (whether delivered
through narrow-band or broadband connection), as the same may be modified, or
any successor site thereto, specifically excluding (a) any other AOL Interactive
Site (e.g., NetCenter (including Netscape Netbusiness), MovieFone.com, Digital
City, etc.) or AOL Interactive Service (e.g., CompuServe, ICQ, AOL Instant
Messenger, etc.),  (b) any international versions of such site, (c) "You've Got
Pictures(TM)," "Shop@," "NetMail(TM),"  "Love@AOL",  "AOL Hometown," "AOL PLUS",
"My News" or any similar independent product, service or property which may be
offered by, through or with the U.S. version of such site, (d) any programming
or Content area offered by or through such site over which AOL does not exercise
substantially complete operational control (including, without limitation,
Content areas controlled by other parties and member-created Content areas), (e)
any white pages, classifieds, third party sites to which any listings in the DLA
Platform or any YP Database link offered by or through such site, (f) any
property, feature, product or service which AOL or its affiliates may acquire
subsequent to the Effective Date and (g) any other version of an

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America Online Interactive Site which is materially different from AOL's primary
Internet-based Interactive Site marketed under the "AOL.COM(TM)" brand, by
virtue of its branding, distribution, functionality, Content or services
(excluding Content or services of the type provided by SB under this Agreement),
including, without limitation, any private-label or co-branded versions or any
version primarily distributed through any broadband distribution platform or
through any platform or device other than a desktop personal computer.

APIS.  Application Programming Interfaces.

CHANGE OF CONTROL.  (a) The consummation of a reorganization, merger or
consolidation or sale or other disposition of substantially all of the assets of
a party or (b) the acquisition by any individual, entity or group (within the
meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934,
as amended) of beneficial ownership (within the meaning of Rule 13d-3
promulgated under such Act) of more than 50% of either (i) the then outstanding
shares of common stock of such party; or (ii) the combined voting power of the
then outstanding voting securities of such party entitled to vote generally in
the election of directors.

COMPETITIVE PRODUCT.  A comprehensive interactive business listing directory
database platform with national scope.

COMPUSERVE. The standard, narrow-band U.S. version of the CompuServe(TM) brand
service (whether delivered through a narrow-band or broadband connection),
specifically excluding (a) any international versions of such service, (b) any
web-based service including "compuserve.com", "cserve.com" and "cs.com", or any
similar product or service offered by or through the U.S. version of the
CompuServe brand service, (c) Content areas owned, maintained or controlled by
CompuServe affiliates or any similar "sub-service," (d) any programming or
Content area offered by or through the U.S. version of the CompuServe brand
service over which CompuServe does not exercise substantially complete
operational control (e.g., third-party Content areas), (e) any white pages,
classifieds or other search, review or other non-Competitive Product, (f) any
co-branded or private label branded version of the U.S. version of the
CompuServe brand service, (g) any version of the U.S. version of the CompuServe
brand service which offers Content, distribution, services and/or functionality
materially different from the Content, distribution, services and/or
functionality associated with the standard, narrow-band U.S. version of the
CompuServe brand service, including, without limitation, any version of such
service primarily distributed through any platform or device other than a
desktop personal computer and (h) any property, feature, product or service
which CompuServe or its affiliates may acquire subsequent to the Effective Date.

CONFIDENTIAL INFORMATION. Any information relating to or disclosed in the course
of the Agreement, which is or should be reasonably understood to be confidential
or proprietary to the disclosing Party, including, but not limited to, the
material terms of this Agreement, [**] Database data, SB Data, Third Party
Licensed Data, information about AOL Members, AOL Users and SB customers,
technical processes and formulas, source codes, product designs, sales, cost and
other unpublished financial information, product and business plans,
projections, and marketing data.  "Confidential Information" will not include
information (a) already lawfully known to the receiving Party, (b) independently
developed by the receiving Party, (c)  disclosed in published materials, (d)
generally known to the public, (e)  obtained from any third party, or (f)
disclosed by operation of law or as otherwise required by law.

CONTENT.  Text, images, video, audio (including, without limitation, music used
in synchronism or timed relation with visual displays) and other data, products,
advertisements, promotions, URLs, links, pointers and software, including any
modifications, upgrades, updates, enhancements and related documentation.

CORRECTED DATA.  Any corrections made to Standard Business Listings by AOL or SB
to make such listings accurate.

DESIGNED-FOR-SEGREGATION FEATURES.  See Section 5.3.1(a).

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DIGITAL CITY SERVICE.   The standard, narrow-band U.S. version of Digital
City(R) brand service's local content offerings marketed under the Digital
City(R) brand name, specifically excluding (a) the AOL Service, AOL.com or any
other AOL Interactive Site, (b) any international versions of such local content
offerings, (c) the CompuServe(R) brand service and any other CompuServe products
or services (d) "Driveway," "ICQTM," "AOL Search," "AOL Instant MessengerTM,"
"AOL NetMailTM," "Electra", "Thrive", "Real Fans", "Love@AOL", "Entertainment
Asylum," "AOL Hometown," "My News" or any similar independent product, service
or property which may be offered by, through or with the standard narrow band
version of Digital City(R) brand service's local content offerings, (e) any
programming or Content area offered by or through such local content offerings
over which Digital City, Inc. ("DCI") does not exercise complete operational
control (including, without limitation, Content areas controlled by other
parties and member-created Content areas), (f) any yellow pages, white pages,
classifieds or other search, directory or review services or Content offered by
or through such local content offerings, (g) any property, feature, product or
service which AOL or its affiliates may acquire subsequent to the Effective
Date, (h) any other version of a Digital City(R) brand service local content
offering which is materially different from the narrow-band U.S. version of
Digital City(R) brand service's local content offerings marketed under the
Digital City(R) brand name, by virtue of its branding, distribution,
functionality, Content or services, including, without limitation, DCI's Your
Town branded cities or any other similar "light" product offering, any co-
branded version of the offerings and any version distributed through any
broadband distribution platform or through any platform or device other than a
desktop personal computer, and (i) Digital City(R) branded offerings in any
local area where such offerings are not owned or operationally controlled by
AOL, Inc. or DCI.

DIRECTORY ADVERTISEMENTS.  Business listings in the [**] Database which are made
more prominent by one or more of the following methods:  (i) movement of a
business listing from a non-prominent, generic area (e.g., "A-Z Listings", "All
Listings", etc.) to a prominent listings area (e.g., "Featured Advertisements",
(ii) badges or added graphics which are used for the sole purpose of enhancing
business listings under this Agreement); (iii) the use of branding, font size,
color, or as may be designated by AOL from time to time, other differentiators,
and/or (iv) category-specific sponsorships within the YP Product  (e.g., a U-
Haul sponsorship of a YP Product "moving" category, but  not including other U-
Haul standard banners or advertisements that are sold separately from YP Product
sales packages).  For the avoidance of doubt, the definition of Directory
Advertisements shall include Additional DA Upsells.  Without limitation,
Directory Advertisements shall not include: (a) Standard Business Listings; (b)
standard banner advertisements, sponsorships or other standard promotional
placements or links sold or otherwise provided by AOL or any AOL Affiliate
(provided that such sale or provision shall be subject to Section 18 hereof);
(c) features, functionality or other content not constituting Additional DA Up-
sells (as set forth in Section 18.2.5); (d) AOL Features or Functionality; or
(e) Self-Published Ads.

Directory Advertisement Revenues.  See Section 18.2.3.

Directory Advertisement Sales Packages.  Sales packages comprised of Directory
Advertisements, but in no event including any AOL Features or Functionality
unless otherwise agreed upon in writing by AOL in advance.

DLA Platform.   "DLA Platform" shall have the meaning set forth in Section 2 of
this Agreement.

ENGINEERING FEE PERCENTAGE INCREASE.  The percentage increase to be added to the
hourly Engineering Fees to be paid by AOL to SB hereunder for hourly work
performed in excess of the Monthly [**]-Hour Threshold  (as described in Section
11.1), (a) to be applied in each Year of the License Period (as reset on each
anniversary of the Effective Date), (b) as determined by a third-party expert to
be mutually agreed upon by the Parties, and in no event to exceed [**] percent
([**]%) in any given Year of the License Period.  For example, if at the end of
the First Year of the Initial Term, such mutually agreed-upon third party
determines that engineering hourly rates in the relevant geographic region have
increased by [**] percent ([**]%), then the Hourly Engineering Rate to be paid
by AOL to SB (as set forth on Exhibit J) shall be increased by [**]% for the
Second Year of the Initial Term.

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ENGINEERING HOURS.  Any hours in which SB, its employees, agents or
subcontractors, perform engineering, consulting, support, maintenance, or
training work as required, or requested by AOL, pursuant to this Agreement,
including, without limitation, hours spent: (a) customizing any software,
technology, processes, tools, APIs, features, or functionality to meet AOL's
specifications or requirements; (b) developing new software, technology,
processes, tools, APIs, features, or functionality as required by this Agreement
or requested by AOL; (c) monitoring, testing, integration, and implementation of
developments created by SB, its agents or subcontractors, or by AOL or its
engineers; and (d) supporting, maintaining, or updating the DLA Platform and/or
[**] Database. Notwithstanding the foregoing, the following work shall not be
counted toward, or included in, Engineering Hours: (i) All-In Services; and (ii)
Training Minimums (as defined in Section 10.1.5).

EXISTING AOL DATA. Any Directory Advertisements or Standard Business Listings
owned or otherwise licensed by AOL from any third party on or prior to the
Effective Date that AOL elects to include within any YP Database.

EXISTING SB DATA.  Any Standard Business Listings or Directory Advertisements
made available by SB to AOL as of the Effective Date and included in the [**]
Database.
[**] DATABASE.  See Section 3.2.

FIRST LEVEL CUSTOMER SERVICE.  The handling of initial inquiries from a customer
and the responses to all questions, comments and complaints to which the Party
handling the initial inquiry is able to adequately respond, using good faith
efforts, without assistance from any other Party.

FIRST YEAR.  The period commencing on the Effective Date and ending on the first
----------
anniversary thereof.

FOURTH YEAR. The period commencing on the day immediately following the third
anniversary of the Effective Date and ending on the fourth anniversary of the
Effective Date (if applicable).

INCLUDED SB SERVICES.  All work performed by SB, its affiliates, agents,
employees, consultants and (to the extent expressly permitted hereunder)
subcontractors related to (a) the Initial DLA Platform (including any API
developed in relation thereto) and/or (b) the maintenance, operation, support,
upgrading, updating and/or development by SB or any of the foregoing entities or
persons in the ordinary course of business with respect to any SB YP Platform
and/or any SB YP Database (as the same is applied to the DLA Platform (including
any API developed in relation thereto) and/or any YP Database, as the case may
be).  For purposes of this definition, "ordinary course of business" shall be
deemed to include any of the same or similar services listed above that SB
carries out for its Standard SB Site (and/or generally for its SB Interactive
Sites) on a regular basis or otherwise regularly in the normal course of its
interactive online yellow pages business operations.

INTERACTIVE SERVICE.  An entity offering one or more of the following: (i)
online or Internet connectivity services (e.g., an online service or Internet
service provider); (ii) an interactive site or service featuring a broad
selection of aggregated third party interactive content (or navigation thereto)
covering a broad range of subjects and targeted at a broad audience (e.g., a
search and directory service or portal) and/or marketing a broad selection of
products and/or services [**]); or (iii) communications software capable of
serving as the principal means through which a user creates, sends or receives
electronic mail or real time online messages.

INTERACTIVE SITE. Any interactive product, site or area, including, by way of
example and without limitation, (i) a site on the World Wide Web portion of the
Internet or (ii) a channel or area delivered through a "push" product.

INITIAL TERM.  See Section 20.1.

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KEYWORD SEARCH TERMS.  (a) The Keyword online search terms made available on the
AOL Service, combining AOL's Keyword online search modifier with a term or
phrase specifically related to SB (and determined by AOL, subject to the terms
of this Agreement, and (b) the Go Word online search terms made available on
CompuServe, combining CompuServe's Go Word online search modifier with a term or
phrase specifically related to SB and determined by AOL, subject to the terms of
this Agreement.

LEVEL I DATA ENHANCEMENTS.  Any data beyond a Standard Business Listing
contained in the [**] Database that enhance the Standard Business Listings
inserted into the [**] Database.

LEVEL II DATA ENHANCEMENTS.  Any data or other content (incremental to that
which is contained in the [**] Database) that enhances the features and
functionality and/or data contained in the DLA Platform.

LICENSED CONTENT.  All Content offered by SB or any SB-Licensed Data provider
(excluding Content offered by AOL or any AOL-Licensed Data provider) through the
YP Product pursuant to this Agreement or otherwise provided by SB or its agents
in connection herewith (e.g., offline or online promotional Content, etc.),
including in each case, any modifications, upgrades, updates, enhancements, and
related documentation.

LICENSE.  See Section 8.

LICENSE PERIOD.  See Section 8.1 hereof.

[**] FEATURES.  See Section 5.3.1(b).

LOCAL BUSINESS DIRECTORY PRODUCTS. See Section 1.

[**] DATABASE.  See Section 3.1.

MONTHLY [**]-HOUR THRESHOLD. See Section 11.1.

NETSCAPE NETBUSINESS.  The targeted, special purpose, business-to-business area,
owned and controlled by AOL (which may be linked to from other areas of the AOL
Network in AOL's sole discretion), and which is the area expected to initially
be a sub-channel within the Small Business channel of Netcenter (and, at a later
point, possibly may, at AOL's option, form the entirety of the content of the
Small Business channel or be made into a Netcenter channel separate from the
Small Business channel, or may be an independently branded stand-alone area).

NETCENTER. Netscape Communications Corporation's primary narrow-band Internet-
based Interactive Site marketed under the "Netscape Netcenter" brand (whether
delivered through a narrow-band or broadband connection), specifically excluding
(a) any other AOL Interactive Site (e.g., AOL.com, Netscape Netbusiness,
MovieFone.com, etc.) or AOL Interactive Service (e.g., CompuServe, ICQ, AOL
Instant Messenger, etc.), (b) any international versions of such Interactive
Site, (c)  "You've Got Pictures(TM)," "Shop@," "NetMail(TM),"  "Love@AOL",  "AOL
Hometown," "AOL PLUS", "My News" or any similar independent product, service or
property which may be offered by, through or with such Interactive Site, (d) any
programming or Content area offered by or through such site over which Netscape
Communications Corporation does not exercise substantially complete operational
control (including, without limitation, Content areas controlled by other
parties and member-created Content areas), (e) any property, feature, product or
service which AOL or its affiliates may acquire subsequent to the Effective
Date, (f) any white pages, classifieds or other search, review or other non-
Competitive Product, (g) any co-branded or private label branded version of
Netcenter(TM) and (h) any other version of an AOL or Netscape Communications
Corporation Interactive Site which is materially different from Netscape
Communications Corporation's primary Internet-based Interactive Site marketed
under the "Netscape Netcenter" brand, by virtue of its branding, distribution,
functionality, Content or services, including,

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without limitation, any private-label or co-branded versions and any version
primarily distributed through any broadband distribution platform or through any
platform or device other than a desktop personal computer (e.g. Custom
NetCenters built specifically for third parties).

OTHER FEES.    Any margin paid to SB (at AOL's election) above any Required
Third Party Licensing Fees.

PRESS RELEASE.  See Section 20.6.

PROMOTIONAL MATERIALS.  See EXHIBIT I, Paragraph 2.

Qualified New Member.  An AOL Member acquired through the customer acquisition
efforts outlined in Section 16 of this Agreement, who (i) registers for the AOL
Service during the Term, using SB's special promotional identifier, and (ii) who
pays the then-standard fees required for membership to the AOL Service through
[**] billing cycles.

RESULTS PAGES.  Pages within the YP Product displaying results of a Search of
any YP Database (including, without limitation, any initial listings, subsequent
listings, "more info" pages, and pages containing any Standard Business
Listings, Directory Advertisements or Self-Published Ads, etc.), and other pages
mutually agreed upon by the Parties, in each case displayed within the AOLYP
User Interface.

REQUIRED THIRD PARTY LICENSING FEES.  Licensing fees required to be paid by SB
to third parties (pursuant to contractual arrangement) to sublicense third-party
features or functionality to AOL that are not required to be provided by SB to
comply with its obligations hereunder with respect to the Initial Platform or
Included SB Services.

SB ALTERNATIVE SALES FORCES.  See Section 10.1.2.

SB APIS.  See Section 5.1.1.

SB  DATA.   Any (i) Existing SB Data, (ii) solely to the extent permitted
hereunder after the Effective Date (e.g., permitted pursuant to Section 10.1 of
the Agreement), any Directory Advertisements, Standard Business Listings, or
Self-Pub Ads sold or otherwise made available by SB or any SB Alternative Sales
Force for inclusion in the [**] Database hereunder, and (iii) any Level I Data
Enhancements made available to AOL by SB after the Effective Date for inclusion
in the [**] Database as expressly permitted hereunder. For the avoidance of
doubt, SB Data shall specifically exclude Third Party Licensed Data. For
purposes of this Agreement, any Corrected Data relating to any of the foregoing
required to make SB Data accurate shall be considered SB Data.

SB FEATURES AND FUNCTIONALITY.  The copyright interest in features and
functionality (not including the data) owned by SB or any SB Affiliate, and
generally made available through or on SB Interactive Sites, whether in
existence on the Effective Date or created, developed or acquired (other than
those created or developed by or acquired from AOL) by SB or any SB Affiliate
thereafter, including, without limitation: SB's copyright interest in general
and categorized business listing search functionality, name and/or address-based
business search functionality and/or other features or functionality that are
generally available on SB Interactive Sites via any platform or media.

SB INTERACTIVE SITE. Any Interactive Site which is owned, managed, maintained,
programmed, powered, or controlled by SB.

SB YP DATABASE.  The yellow pages database made available on the Standard SB
Site and any yellow pages database generally made available by SB on other SB
Interactive Sites, and [**] Database.

SB-Licensed Data.  Any Directory Advertisements, Standard Business Listings or
other listings licensed by SB from any third party and included in the [**]
Database during the License Period.

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SB PLATFORM COMPONENTS.  See Section 7.1.1.

SB YP PLATFORM. The yellow pages platform made available on the Standard SB Site
(and any yellow pages features and functionality generally made available as
part of such platform by SB on other SB Interactive Sites).

Search.  A query of any YP Database which produces results or a statement that
no matching results are available in such YP Database when an AOL User clicks on
a "search" or "go" or similar button after partially or fully completing a
search form designed to query such YP Database.

Search Screen.  A page within the YP Product where an AOL User is prompted to
manually type in a category and a location to form the basis of a query of the
relevant YP Database.

SECOND LEVEL CUSTOMER SERVICE.  The handling of customer inquiries where the
initial recipient of the inquiry, despite its good faith efforts, requires
assistance of another Party to adequately respond to the inquiry.

SECOND YEAR.  The period commencing on the day immediately following the first
anniversary of the Effective Date and ending on the second anniversary of the
Effective Date.

SELF-PUBLISHED ADS.  Business listings in the YP Databases which are created
online by the purchaser of the listing and which contain information other than,
and in addition to, that which appears in a Standard Business Listing and/or
which is presented in a manner which is different from a Standard Business
Listing (e.g., a listing including a link to a business' web site or a listing
containing enhanced graphics).

STANDARD BUSINESS LISTINGS.  Standard business listings, including business
name, address, city, state, zip code, telephone number, facsimile number, and
any other applicable standard listing attributes of the [**] Database, as
displayed to users in standard form, order and prominence.

Standard SB Site.  The SB Interactive Site located at www.switchboard.com (or
any successor principal SB Web site ).

STEERING COMMITTEE.  See Section 13.

TERM.  See Section 20.1.

THIRD PARTY LICENSED DATA.  Third Party License Data shall mean (a) AOL-Licensed
Data and (b) SB-Licensed Data.

THIRD YEAR.  The period commencing on the day immediately following the second
anniversary of the Effective Date and ending on the third anniversary of the
Effective Date (if applicable).

THREADED AOL MODIFICATION.  See Section 5.3.1(c).

WIND-DOWN PERIOD.  See Section 20.7.

YEAR.  Each of the First Year, the Second Year, and (if applicable) the Third
Year and the Fourth Year.

  CONFIDENTIAL - AOL - SWITCHBOARD DIRECTORY AND LOCAL ADVERTISING PLATFORM
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                                   EXHIBIT B

CROSS PROMOTIONS

SB CROSS-PROMOTION

A.  Subject to existing contractual obligations of SB in full force and effect
    on the Effective Date, so long as AOL provides SB with the interim
    explanation page referenced in Section 15 of this Agreement, within the
    Standard SB Site (or any successor Web site thereto), SB shall include the
    following (collectively, the "AOL Promos"): (i) a prominent promotional
    banner or button (at least [**] pixels or [**] pixels in size) appearing
    "above the fold" on the first screen of the Standard SB Site, to promote
    such AOL products or services as AOL may designate (e.g., the America Online
    brand service, the CompuServe brand service, the AOL Instant Messenger
    service, etc.); or (ii) a prominent "Try AOL" feature (at least [**] pixels
    or [**] pixels in size) in accordance with the terms of AOL's Affiliate
    program, the terms of which can be found at www.affiliate.aol.com. AOL will
    provide the creative content to be used in the AOL Promos (including
    designation of links from such content to other content pages). SB shall
    post (or update, as the case may be) the creative content supplied by AOL
    within the spaces for the AOL Promos within [**] days of its receipt of such
    content from AOL. Without limiting any other reporting obligations of the
    Parties contained herein, upon any request by AOL, SB shall provide AOL with
    the number of impressions to the pages containing the AOL Promos during the
    prior [**] or the period since AOL's last such request; provided, however,
    that the Parties will work together in good faith to implement a process by
    which SB shall provide AOL with regular [**] updates with respect to such
    impressions figures. In the event that AOL elects to serve the AOL Promos to
    the SB Interactive Site from an ad server controlled by AOL or its agent, SB
    shall take all reasonable operational steps necessary to facilitate such ad
    serving arrangement including, without limitation, inserting HTML code
    designated by AOL on the pages of the SB Interactive Site on which the AOL
    Promos will appear. In the event that SB ceases display of the AOL Promos,
    AOL shall have the right to cease use of the interim explanation page
    described in the first sentence above.

B.  Upon the [**] and subject to existing contractual obligations of SB in full
    force and effect on the Effective Date, in SB's television, print and "out
    of home" (e.g., buses, billboards, point of purchase, and other "place-
    based" promotions) advertisements, SB will include specific references or
    mentions (verbally where possible) to the AOL Keyword Search Term "Yellow
    Pages" (or other Keyword Search Term as mutually agreed upon by the Parties
    from time to time). Such references or mentions shall be (a) at least [**]
    scan lines in any television advertisement, and (b) at least [**] in height
    in any print creative. Notwithstanding the foregoing, such references or
    mentions shall be at least as prominent as any references that SB makes to
    any third-party Interactive Site (by way of site name, related company name,
    URL or otherwise ((other than any entity which as of the Effective Date owns
    more than [**]% of the outstanding shares of common stock of SB)). Without
    limiting the generality of the foregoing, SB's listing of the "URL" for any
    SB Interactive Site in any advertisement related to its yellow pages product
    will be accompanied by a prominent listing of the Keyword Search Term
    "Yellow Pages", which listing shall conform to the Keyword Search Term
    Guidelines set forth in Section D below. SB shall not promote, in any
    television, radio, print or "out of home" advertisements any other third-
    party Internet keyword (e.g., "Real Name") search term for any yellow pages
    product other than the Keyword Search Term for the YP Product (unless such
    Internet keywords become a primary means by which Web users navigate on the
    Web).

C.  SB will not implement or authorize any promotion on Standard SB Site or
    offline for any other Interactive Service (other than any entity which as of
    the Effective Date owns more than [**]% of the outstanding shares of common
    stock of SB) that is more favorable in any material respect to the promotion
    required or provided to AOL pursuant to this Exhibit B

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D.  Keyword Guidelines:

    GRAPHIC:  PRINT/TV/"OUT OF HOME"

    Required listing:      (AOL Triangle appears) America Online Keyword:
                           Yellow Pages
                           AMERICA ONLINE KEYWORD: YELLOW PAGES

 .  'America Online' must be spelled out
 .  Capitalization - listing should appear in initial caps only
   Note:  K of Keyword must always be capitalized
 .  Font, Font style and Size must all be consistent
 .  Listing size must be prominent and no less prominent than any
   listing/promotion for any/all other third-parties featured
 .  Equal prominence applies to size, voice-over support, and length of listings
 .  Listings must be no less than [**] height on print advertisements
 .  Television listing must represent at least [**]  scan lines

                    AOL must approve all uses prior to usage

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                                   EXHIBIT C

Performance Specifications

To the extent the provisions of this Exhibit C conflict with the terms set forth
in the main Agreement (excluding performance and specification obligations), the
terms of the Agreement shall govern.

All SB obligations set forth in this Exhibit C shall apply to all data included
in the [**] Database prior to the Launch Date (and shall constitute part of SB's
obligations with respect to the Initial YP Platform for purposes of AOL's
acceptance thereof as set forth in Section 11.5 of this Agreement).  In
addition, all SB obligations set forth in this Exhibit C also shall apply on an
on-going basis throughout the Term to all data in the [**] Database (and shall
constitute part of SB's obligations with respect to the DLA Platform under this
Agreement).

Ongoing Specifications  - Section I

1.   Support Guidelines.

     A.   Hours of Operation.  SB shall provide AOL with technical support
twenty-four hours a day, seven days a week, 365 days a year as set forth herein.

     B.   Definitions.

          1.    Severity 1 Problem.  Any error, bug, or malfunction that causes
the DLA Platform, the [**] Database and/or any material component under SB's
control of any Local Business Directory Product, including without limitation
the YP Product, (any "Material Component") to become inaccessible to AOL and/or
any AOL Users.

          2.  Severity 2 Problem. Any error, bug, or malfunction that causes any
feature of the DLA Platform, the [**] Database and/or any Material Component to
become inaccessible to AOL and end users of the AOL Network or to have a
material degradation in response time or functional performance.

          3.  Severity 3 Problem.  Any material error, bug, or malfunction that
makes any feature of the DLA Platform, the YP Database and/or any Material
Component perform unpredictably or otherwise become intermittently unavailable,
or that causes the DLA Platform, the YP Databases and/or any Material Component
to have a significant degradation in response time or functional performance.

          4.  Severity 4 Problem.  Any requested non-functional changes or
improvements or any non-material bug or malfunction not significantly degrading
the AOL User experience with respect to the DLA Platform will be treated a
Severity 4 Problem.  This provision includes requests by AOL to incorporate a
new feature or enhance an existing feature of the DLA Platform, the YP Databases
and/or any Material Component.

          5.  Fix.  A correction, fix, alteration or workaround that solves a
Problem of any severity.

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2.   Contact Points.

     A.  AOL Technical Support Personnel.  AOL will designate a subset of
operations employees as qualified to contact SB for technical support.  SB will,
at no cost to AOL (other than as part of the SB Consulting Fees), provide AOL
with sufficient training to enable AOL to undertake its obligations and obtain
its benefits hereunder.  The Parties will mutually agree on the amount and
content of such training, the personnel who will be trained, the timing of such
training, and the location of such training.  Each Party will pay its own travel
expenses for such training.

    B.  SB Technical Support Personnel.  SB shall appoint dedicated
technical support personnel ("Technical Support Personnel") with reasonable and
substantial relevant training and experience to whom AOL may address all
technical questions relating to the DLA Platform, the YP Databases and/or any
Material YP Component.  SB will ensure that its Technical Support Personnel are
adequately trained to provide technical support to AOL.  SB will provide AOL
with a web interface or an email address (the "Support Address"), an email pager
address (the "Support Pager"), and a hotline telephone support number for
contacting the SB Technical Support Personnel no later than one week following
the Effective Date. SB may change its designated Technical Support Personnel and
executive escalation personnel at its discretion with reasonable advance notice
to AOL.

    C.  24x7 Contact.  SB will provide a 24x7 operations contact for AOL
for Severity 1 and 2 Problems.  In addition to the foregoing, the SB operations
contact shall be available during normal business hours and able to address all
questions/issues AOL has regarding the operation of the DLA Platform, the YP
Databases and/or any Material YP Component (and any support/maintenance
thereof).

    D.  Defect Tracking.  SB will provide access to defect tracking for all
bugs that impact the DLA Platform, the YP Databases, and/or the YP Product.

    E.  Service Outage.  SB will use commercially reasonable efforts to
provide 96 hours of notice for any scheduled service outage, and will in any
event provide no less than 48 hours notice for any scheduled service outage.

3.  Support Procedures.

    A.  All Problems reported by AOL Technical Support Personnel to SB must
be submitted via web site or email to the Support Address or by calling the
hotline telephone support number.

    B.  In the event that AOL contacts SB regarding a Severity 1 Problem,
SB will respond to the inquiry and use best commercial efforts to provide a Fix
as described in the support table set forth below. In the event that AOL
contacts SB regarding a Severity 2 Problem, Severity 3 Problem, or Severity 4
Problem, SB will respond to the inquiry and use commercially reasonable efforts
to provide a Fix as described in the support table set forth below.

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<TABLE>
<CAPTION>
Type of problem                  Receipt request            Target response Time         Target Fix Time and Reporting
---------------------------------------------------------------------------------------------------------------------------
<S>                      <C>                               <C>                      <C>
Severity 1 Problem       During the hours between 6:00     [**]                     [**]
                         a.m. and 9:00 p.m. Pacific time
---------------------------------------------------------------------------------------------------------------------------
                         During the hours between 9:00     [**]                     [**]
                         p.m. and 6:00 a.m. Pacific time
---------------------------------------------------------------------------------------------------------------------------
Severity 2 Problem       During the hours between 6:00     [**]                     [**]
                         a.m. and 9:00 p.m. Pacific time
---------------------------------------------------------------------------------------------------------------------------
                         During the hours between 9:00     [**]                     [**]
                         p.m. and 6:00 a.m. Pacific time
---------------------------------------------------------------------------------------------------------------------------
Severity 3 Problem       During the hours between 6:00     [**]                     [**]
                         a.m. and 9:00 p.m. Pacific time
---------------------------------------------------------------------------------------------------------------------------
                         During the hours between 9:00     [**]                     [**]
                         p.m. and 6:00 a.m. Pacific time
---------------------------------------------------------------------------------------------------------------------------
Severity 4 Problem       During the hours between 6:00     [**]                     [**]
(Enhancement Request)    a.m. and 9:00 p.m. Pacific time

---------------------------------------------------------------------------------------------------------------------------
                         During the hours between 9:00     [**]                     [**]
                         p.m. and 6:00 a.m. Pacific time
---------------------------------------------------------------------------------------------------------------------------
</TABLE>

     C.   SB will inform AOL Technical Support Personnel of Fixes as soon as
          they are complete.

     D.   In the event SB does not respond to AOL within the target response
          time from email receipt set forth above, then AOL may contact the
          following SB executive escalation personnel in order:

                                 [**]    [**]

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EXHIBIT C

                           Performance Specifications

                       Section II - Architecture Overview

A. General.

Confidential Materials omitted and filed separately with the Securities and
Exchange Commission.

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                                   EXHIBIT C

                          Performance Specifications

                       SECTION III - QUERY & DETAILS APIS

  Confidential Materials omitted and filed separately with the Securities and
                             Exchange Commission.

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                                   EXHIBIT C

                           PERFORMANCE SPECIFICATIONS

                           SECTION IV[**]REQUIREMENTS

GENERAL REQUIREMENTS

Confidential Materials omitted and filed separately with the Securities and
Exchange Commission.

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                                   EXHIBIT C

                           PERFORMANCE SPECIFICATION

               SECTION V - ADVERTISING CHANNEL TOOLS AND SUPPORT

Confidential Materials omitted and filed separately with the Securities and
Exchange Commission.

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                                   EXHIBIT C

                           PERFORMANCE SPECIFICATION

                       SECTION VI - ADVERTISING REPORTING

Confidential Materials omitted and filed separately with the Securities and
Exchange Commission.

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EXHIBIT C

                           PERFORMANCE SPECIFICATION

                        SECTION VII - ACCEPTANCE TESTING

  Confidential Materials omitted and filed separately with the Securities and
                              Exchange Commission.

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                                   EXHIBIT D

  Confidential Materials omitted and filed separately with the Securities and
                              Exchange Commission.

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                                   EXHIBIT E

                            [INTENTIONALLY OMITTED]

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EXHIBIT F

STANDARD ONLINE COMMERCE TERMS & CONDITIONS

1. AOL Network Distribution. The Licensed Content shall be distributed by AOL in
accordance with the terms of this Agreement. SB will not expressly authorize or
permit any third party to distribute or promote the Licensed Content or any SB
Interactive Site through the AOL Network absent AOL's prior written approval.

2. Disclaimers. The Parties agree that AOL may include within the YP Product a
disclaimer (the specific form and substance to be mutually agreed upon by the
Parties) indicating that all Licensed Content is provided solely by SB and not
AOL and that AOL has no responsibility for the content or substance of such
Licensed Content.

3. Representations and Warranties Regarding Licensed Content. SB represents and
warrants that the Licensed Content : (i) will not infringe on or violate any
copyright, trademark, U.S. patent or any other third party right, including
without limitation, any music performance or other music-related rights; (ii)
will not violate AOL's then-applicable Terms of Service for the AOL Service and
any other AOL property through which the YP Product will be promoted or any
other standard, written AOL policy; and (iii) will not violate any applicable
law or regulation, including those relating to contests, sweepstakes or similar
promotions. Additionally, SB represents and warrants that it owns or has a valid
license to all rights to any Licensed Content used in AOL formats embodying
elements such as graphics, animation and sound, free and clear of all
encumbrances and without violating the rights of any other person or entity. SB
shall not in any manner state or imply that AOL recommends or endorses SB or
SB's Products (e.g., no statements that SB is an "official" or "preferred"
provider of products or services for AOL). AOL will have no obligations with
respect to Licensed Content available on or through the YP Product, including,
but not limited to, any duty to review or monitor any such Licensed Content.

4. Production Work. In the event that a Party requests production assistance
from the other Party in connection with (i) ongoing programming and maintenance
related to the DLA Platform, the YP Databases or any other Licensed Content,
other than as expressly contemplated in this Agreement (ii) production to modify
work performed by a third party provider or (iii) any other type of production
work, the Party will work with the requesting Party to develop a detailed
production plan for the requested production assistance (the "Production Plan").
Following receipt of the final Production Plan, the Party will notify the
requesting Party of (i) it's availability to perform the requested production
work, (ii) the proposed fee or fee structure for the requested production and
maintenance work and (iii) the estimated development schedule for such work. To
the extent the Parties reach agreement regarding implementation of the agreed-
upon Production Plan, such agreement will be reflected in a separate work order
signed by the Parties. To the extent SB elects to retain a third party provider
to perform any such production work, work produced by such third party provider
must generally conform to AOL's standards & practices (as provided on the
America Online brand service at Keyword term "styleguide").

5. Overhead Accounts. To the extent AOL has granted SB any overhead accounts on
the AOL Service, SB will be responsible for the actions taken under or through
its overhead accounts, which actions are subject to AOL's applicable Terms of
Service and for any customary surcharges, including, without limitation, all
premium charges, transaction charges, and any applicable communication
surcharges incurred by any overhead Account issued to SB, but SB will not be
liable for charges incurred by any overhead account relating to AOL's standard
monthly usage fees and standard hourly charges, which charges AOL will bear.
Upon the termination of this Agreement, all overhead accounts, related screen
names and any associated usage credits or similar rights, will automatically
terminate. AOL will have no liability for loss of any data or content related to
the proper termination of any overhead account.

6. Navigation Tools. Any Keyword Search Terms granted to SB by AOL to be
directed to the YP Product shall be subject to availability for use by SB. AOL
reserves the right to revoke at any time SB's use of any Keyword Search Terms
which do not incorporate registered trademarks of SB. SB acknowledges that its
utilization of a Keyword Search Term will not create in it, nor will it
represent it has, any right, title or interest in or to such Keyword Search
Term, other than the right, title and interest SB holds in SB's registered
trademark independent of the Keyword Search Term. Notwithstanding the foregoing,
AOL agrees not revoke the use of the "yellow pages" keyword by SB unless AOL
believes in good faith that the use of such keyword as contemplated herein would
expose AOL to infringement or liability with respect to the use of such as
intellectual property. Without limiting the generality of the foregoing, SB will
not: (a) attempt to register or otherwise obtain trademark or copyright
protection in the Keyword Search Term; or (b) use the Keyword Search Term,

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except for the purposes expressly required or permitted under this Agreement. To
the extent AOL allows AOL Users to "bookmark" the URL or other locator for the
YP Product, such bookmarks will be subject to AOL's control at all times. Upon
the termination of this Agreement, SB's rights to any Keyword Search Terms and
bookmarking will terminate.

7. Kids and Teens Content. SB shall notify AOL in writing whenever it intends to
distribute child designated content for the following age groups on or through
the YP Product: (i) Kids (children ages 12 and under), (ii) Young Teens
(children ages 13-15), (iii) Mature Teens (children ages 16-17). All Licensed
Content appearing on or through the YP Product designated for the foregoing age
groups shall comply at all time with AOL's standard, written policies for such
groups, which policies shall be made available to SB upon request.

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EXHIBIT G

Form of Stock Purchase Agreement

                      [Filed separately as Exhibit 10.49]

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                                   EXHIBIT H

                            [INTENTIONALLY OMITTED]

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                                   EXHIBIT I

                       STANDARD LEGAL TERMS & CONDITIONS

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1.   Dispute Resolution.

     1.1.  Management Committee.  The Parties will act in good faith and use
     commercially reasonable efforts to promptly resolve any claim, dispute,
     controversy or disagreement (each a "Dispute") between the Parties or any
     of their respective subsidiaries, affiliates, successors and assigns under
     or related to this Agreement or any document executed pursuant to this
     Agreement or any of the transactions contemplated hereby.  If the Parties
     cannot promptly resolve the Dispute, the Dispute will be submitted to the
     Management Committee for resolution.  For twenty (20) days following
     submission of the Dispute to the Management Committee, the Management
     Committee will have the exclusive right to resolve such Dispute.  If the
     Management Committee is unable to amicably resolve the Dispute during the
     twenty-day period, then the Management Committee will consider in good
     faith the possibility of retaining a third party mediator to facilitate
     resolution of the Dispute.  In the event the Management Committee elects
     not to retain a mediator, the dispute will be subject to the resolution
     mechanisms described below.  "Management Committee" will mean a committee
     made up of a senior executive from each of the Parties for the purpose of
     resolving Disputes under this Section 1 and generally overseeing the
     relationship between the Parties contemplated by this Agreement.  Neither
     Party will seek, nor will be entitled to seek, binding outside resolution
     of the Dispute unless and until the Parties have been unable amicably to
     resolve the Dispute as set forth in this Section 1.1 and then, only in
     compliance with the procedures set forth in the remainder of this Section
     1.

     1.2.  Arbitration.  Except for Disputes relating to issues of proprietary
     rights, including but not limited to intellectual property and
     confidentiality, any dispute not resolved by amicable resolution is set
     forth in Section 1.1 will be governed exclusively and finally by
     arbitration.  Such arbitration will be conducted by the American
     Arbitration Association ("AAA") in New York  and will be initiated and
     conducted in accordance with the Commercial Arbitration Rules ("Commercial
     Rules") of the AAA, including the AAA Supplementary Procedures for Large
     Complex Commercial Disputes ("Complex Procedures"), as such rules will be
     in effect on the date of delivery of a demand for arbitration ("Demand"),
     except to the extent that such rules are inconsistent with the provisions
     set forth herein.  Notwithstanding the foregoing, the Parties may agree in
     good faith that the Complex Procedures will not apply in order to promote
     the efficient arbitration of Disputes where the nature of the Dispute,
     including without limitation the amount in controversy, does not justify
     the application of such procedures.

     1.3.  Selection of Arbitrators.  The arbitration panel will consist of
     three arbitrators.  Each Party will name an arbitrator within ten (10) days
     after the delivery of the Demand.  The two arbitrators named by the Parties
     may have prior relationships with the naming Party, which in a judicial
     setting would be considered a conflict of interest.  The third arbitrator,
     selected by the first two, should be a neutral participant, with no prior
     working relationship with either Party.  If the two arbitrators are unable
     to select a third arbitrator within ten (10) days, a third neutral
     arbitrator will be appointed by the AAA from the panel of commercial
     arbitrators of any of the AAA Large and Complex Resolution Programs.  If a
     vacancy in the arbitration panel occurs after the hearings have commenced,
     the remaining arbitrator or arbitrators may not continue with the hearing
     and determination of the controversy, unless the Parties agree otherwise.

     1.4.  Governing Law.  The Federal Arbitration Act, 9 U.S.C. Secs. 1-16, and
     not state law, will govern the arbitrability of all Disputes.  The
     arbitrators will allow such discovery as is appropriate to the purposes of
     arbitration in accomplishing a fair, speedy and cost-effective resolution
     of the Disputes.  The arbitrators will reference the Federal Rules of Civil
     Procedure then in effect in setting the scope and timing of discovery.  The
     Federal Rules of Evidence will apply in toto. The arbitrators may enter a
     default decision against any Party who fails to participate in the
     arbitration proceedings.

     1.5.  Arbitration Awards.  The arbitrators will have the authority to award
     compensatory damages only.  Any award by the arbitrators will be
     accompanied by a written opinion setting forth the findings of fact and
     conclusions of law relied upon in reaching the decision.  The award
     rendered by the arbitrators will be final, binding and non-appealable, and
     judgment upon such award may be entered by any court of competent
     jurisdiction.  The Parties agree that the existence, conduct and content of
     any arbitration will be kept confidential and no Party will disclose to any
     person any information about such arbitration, except as may be required by
     law or by any governmental authority or for financial reporting purposes in
     each Party's financial statements.

     1.6.  Fees.  Each Party will pay the fees of its own attorneys, expenses of
     witnesses and all other expenses and costs in connection with the
     presentation of such Party's case (collectively, "Attorneys' Fees").  The
     remaining costs of the arbitration, including without limitation, fees of
     the arbitrators, costs of records or transcripts and administrative fees
     (collectively, "Arbitration Costs") will be borne equally by the Parties.
     Notwithstanding the foregoing, the arbitrators may modify the allocation of
     Arbitration Costs and award Attorneys' Fees in those cases where fairness
     dictates a different allocation of Arbitration Costs between the Parties
     and an award of Attorneys' Fees to the prevailing Party as determined by
     the arbitrators.

     1.7.  Non Arbitratable Disputes.  Any Dispute that is not subject to final
     resolution by the Management Committee or to arbitration under this Section
     1 or by law (collectively, "Non-Arbitration Claims") shall be brought in a
     court of competent jurisdiction in a venue to be determined based on the
     applicable facts, circumstances and law.

 2.  Promotional Materials.  SB will submit to AOL, for its prior written
 approval, which will not be unreasonably withheld or delayed, any marketing,
 advertising,  or other promotional materials, excluding Press Releases, related
 to the YP Product and/or referencing AOL and/or its trade names, trademarks,
 and service marks (the "Promotional Materials"); provided, however, that,
 following the initial public announcement of the business relationship between
 the Parties in accordance with the approval and other requirements contained
 herein, SB's subsequent factual reference to the existence of a business
 relationship between the Parties in Promotional Materials,  will not require
 the approval of AOL.

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 3.  Trademark License. In designing and implementing the Promotional Materials
 or as otherwise contemplated under this Agreement and subject to the other
 provisions contained herein, SB will be entitled to use the trade names,
 trademarks, and service marks of the AOL Properties; and AOL and its affiliates
 will be entitled to use the trade names, trademarks, and service marks of SB
 for which SB holds all rights necessary for use in connection with this
 Agreement (collectively, together with the AOL marks listed above, the
 "Marks"); provided that each Party: (i) does not create a unitary composite
 mark involving a Mark of the other Party without the prior written approval of
 such other Party;  (ii) displays symbols and notices clearly and sufficiently
 indicating the trademark status and ownership of the other Party's Marks in
 accordance with applicable trademark law and practice; and (iii) complies with
 all written guidelines provided to it by the other Party related to use of the
 other Party's Marks.

 4.  Ownership of Trademarks. Each Party acknowledges that its utilization of
 the other Party's Marks will not create in it, nor will it represent it has,
 any right, title, or interest in or to such Marks other than the licenses
 expressly granted herein.  Each Party agrees not to do anything contesting or
 impairing the trademark rights of the other Party.

 5.  Quality Standards.  Each Party agrees that the nature and quality of its
 products and services supplied in connection with the other Party's Marks will
 conform to quality standards which the public has come to associate with the
 use of such Marks.  Each Party agrees to supply the other Party, upon request,
 with a reasonable number of samples of any Materials publicly disseminated by
 such Party which utilize the other Party's Marks.  Each Party will comply with
 all applicable laws, regulations, and customs and obtain any required
 government approvals pertaining to use of the other Party's Marks.

 6.  Infringement Proceedings.  Each Party agrees to promptly notify the other
 Party of any unauthorized use of the other Party's Marks of which it has actual
 knowledge.  Each Party will have the sole right and discretion to bring
 proceedings alleging infringement of its Marks or unfair competition related
 thereto; provided, however, that each Party agrees to provide the other Party
 with its reasonable cooperation and assistance with respect to any such
 infringement proceedings.

 7.  Representations and Warranties.  Each Party represents and warrants to the
 other Party that: (i) such Party has the full corporate right, power and
 authority to enter into this Agreement and to perform the acts required of it
 hereunder; (ii) the execution of this Agreement by such Party, and the
 performance by such Party of its obligations and duties hereunder, do not and
 will not violate any agreement to which such Party is a party or by which it is
 otherwise bound; (iii) when executed and delivered by such Party, this
 Agreement will constitute the legal, valid and binding obligation of such
 Party, enforceable against such Party in accordance with its terms; (iv) such
 Party's Promotional Materials will neither infringe on any copyright, U.S.
 patent or any other third party right nor violate any applicable law or
 regulation and (v) such Party acknowledges that the other Party makes no
 representations, warranties or agreements related to the subject matter hereof
 that are not expressly provided for in this Agreement.

 8.  LIMITATION OF LIABILITY; DISCLAIMER; INDEMNIFICATION.

 8.1  LIABILITY.   UNDER NO CIRCUMSTANCES WILL EITHER PARTY BE LIABLE TO THE
 OTHER PARTY FOR INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL OR EXEMPLARY
 DAMAGES (EVEN IF THAT PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH
 DAMAGES), ARISING FROM BREACH OF THE AGREEMENT, THE USE OR INABILITY TO USE THE
 AOL NETWORK, ANY AOL PROPERTY(IES), THE LOCAL BUSINESS DIRECTORY PRODUCTS, OR
 THE YP PRODUCT, OR ARISING FROM ANY OTHER PROVISION OF THIS AGREEMENT, SUCH AS,
 BUT NOT LIMITED TO, LOSS OF REVENUE OR ANTICIPATED PROFITS OR LOST BUSINESS
 (COLLECTIVELY, "DISCLAIMED DAMAGES"); PROVIDED THAT EACH PARTY WILL REMAIN
 LIABLE TO THE OTHER PARTY TO THE EXTENT ANY DISCLAIMED DAMAGES ARE CLAIMED BY A
 THIRD PARTY AND ARE SUBJECT TO INDEMNIFICATION PURSUANT TO SECTION 8.3.  EXCEPT
 AS PROVIDED IN SECTION 8.3 OR WITH RESPECT TO A TERMINATION OF THE AGREEMENT BY
 AOL DUE TO SB'S MATERIAL BREACH OF ANY APPLICABLE RESTRICTIONS SET FORTH IN
 THIS AGREEMENT ON SB'S USE OF AOL FEATURES OR FUNCTIONALITIES, (I) LIABILITY
 ARISING UNDER THIS AGREEMENT WILL BE LIMITED TO DIRECT, OBJECTIVELY MEASURABLE
 DAMAGES, AND (II) THE MAXIMUM LIABILITY OF ONE PARTY TO THE OTHER PARTY FOR ANY
 CLAIMS ARISING IN CONNECTION WITH THIS AGREEMENT WILL NOT EXCEED THE AGGREGATE
 AMOUNT OF FIXED GUARANTEED PAYMENT OBLIGATIONS OWED BY SB HEREUNDER IN THE YEAR
 IN WHICH THE EVENT GIVING RISE TO LIABILITY OCCURS; PROVIDED THAT EACH PARTY
 WILL REMAIN LIABLE FOR THE AGGREGATE AMOUNT OF ANY PAYMENT OBLIGATIONS OWED TO
 THE OTHER PARTY PURSUANT TO THE AGREEMENT.

 8.2  NO ADDITIONAL WARRANTIES.  EXCEPT AS EXPRESSLY SET FORTH IN THIS
 AGREEMENT, NEITHER PARTY MAKES ANY, AND EACH PARTY HEREBY SPECIFICALLY
 DISCLAIMS ANY, REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, REGARDING,
 WITHOUT LIMITATION, THE AOL NETWORK, THE AOL PROPERTIES, THE LOCAL BUSINESS
 DIRECTORY PRODUCTS OR THE YP PRODUCT, INCLUDING ANY IMPLIED WARRANTY OF
 MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE AND IMPLIED WARRANTIES
 ARISING FROM COURSE OF DEALING OR COURSE OF PERFORMANCE.  WITHOUT LIMITING THE
 GENERALITY OF THE FOREGOING, AOL SPECIFICALLY DISCLAIMS ANY WARRANTY REGARDING
 THE PROFITABILITY OF THE YP PRODUCT.

 8.3  Indemnity.  Either Party will defend, indemnify, save and hold harmless
 the other Party and the officers, directors, agents, affiliates, distributors,
 franchisees and employees of the other Party from any and all third party
 claims, demands, liabilities, costs or

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 expenses, including reasonable attorneys' fees ("Liabilities"), resulting from
 the indemnifying Party's material breach or alleged material breach of any
 duty, obligation, representation, or warranty of this Agreement. In addition,
 Each Party shall indemnify and hold harmless the other for any and all third
 party claims, suits, actions and/or proceedings arising out of the use in
 accordance with the terms of this Agreement by the other Party of such Standard
 Business Listings (including any AOL- or SB-Licensed Data) within the YP
 Product (and/or in connection with the DLA Platform).

 8.4  Claims. If a Party entitled to indemnification hereunder (the "Indemnified
 Party") becomes aware of any matter it believes is indemnifiable hereunder
 involving any claim, action, suit, investigation, arbitration or other
 proceeding against the Indemnified Party by any third party (each an "Action"),
 the Indemnified Party will give the other Party (the "Indemnifying Party")
 prompt written notice of such Action.  Such notice will (i) provide the basis
 on which indemnification is being asserted and (ii) be accompanied by copies of
 all relevant pleadings, demands, and other papers related to the Action and in
 the possession of the Indemnified Party.  The Indemnifying Party will have a
 period of ten (10) days after delivery of such notice to respond.  If the
 Indemnifying Party elects to defend the Action or does not respond within the
 requisite ten (10) day period, the Indemnifying Party will be obligated to
 defend the Action, at its own expense, and by counsel reasonably satisfactory
 to the Indemnified Party.  The Indemnified Party will cooperate, at the expense
 of the Indemnifying Party, with the Indemnifying Party and its counsel in the
 defense and the Indemnified Party will have the right to participate fully, at
 its own expense, in the defense of such Action.  If the Indemnifying Party
 responds within the required ten (10) day period and elects not to defend such
 Action, the Indemnified Party will be free, without prejudice to any of the
 Indemnified Party's rights hereunder, to compromise or defend (and control the
 defense of) such Action.  In such case, the Indemnifying Party will cooperate,
 at its own expense, with the Indemnified Party and its counsel in the defense
 against such Action and the Indemnifying Party will have the right to
 participate fully, at its own expense, in the defense of such Action.  Any
 compromise or settlement of an Action will require the prior written consent of
 both Parties hereunder, such consent not to be unreasonably withheld or
 delayed.

 10.  Acknowledgment.  AOL and SB each acknowledges that the provisions of this
 Agreement were negotiated to reflect an informed, voluntary allocation between
 them of all risks  associated with the transactions contemplated hereunder.
 The limitations and disclaimers related to warranties and liability contained
 in this Agreement are intended to limit the circumstances and extent of
 liability. The Parties agree that any principle of construction or rule of law
 that provides that an agreement shall be construed against the drafter of the
 agreement in the event of any inconsistency or ambiguity in such agreement
 shall not apply to the terms and conditions of this Agreement.  The provisions
 of this Section 10 will be enforceable independent of and severable from any
 other enforceable or unenforceable provision of this Agreement.

 11. Solicitation of AOL Users. During the Term of the Agreement, SB will not
 use the AOL Network (including, without limitation, the e-mail network
 contained therein) to solicit AOL Users on behalf of another Interactive
 Service. In addition to the foregoing, during the Term and for a two year
 period following the expiration or termination of this Agreement, SB also shall
 not use information obtained pursuant this Agreement to solicit AOL Users on
 behalf of another Interactive Service. More generally, SB will not send
 unsolicited, commercial e-mail (i.e., "spam") or other online communications
 through or into AOL's products or services, absent a Prior Business
 Relationship. For purposes of this Agreement, a "Prior Business Relationship"
 will mean that the AOL User to whom commercial e-mail or other online
 communication is being sent has voluntarily either (i) engaged in a transaction
 with SB or (ii) provided information to SB through a contest, registration, or
 other communication, which included clear notice to the AOL User that the
 information provided could result in commercial e-mail or other online
 communication being sent to that AOL User by SB or its agents. Any commercial
 e-mail or other online communications to AOL Users which are otherwise
 permitted hereunder, will (a) include a prominent and easy means to "opt-out"
 of receiving any future commercial communications from SB, and (b) shall also
 be subject to AOL's then-standard restrictions on distribution of bulk e-mail
 (e.g., related to the time and manner in which such e-mail can be distributed
 through or into the AOL product or service in question).

 12. AOL User Communications. To the extent that SB is permitted to communicate
 with AOL Users under Section 11 of this Exhibit I, in any such communications
 to AOL Users (including, without limitation, e-mail solicitations), SB will not
 target AOL Users to take any action inconsistent with the scope and purpose of
 this Agreement, including without limitation, the following actions: (i) using
 any yellow pages product other than the YP Product, (ii) using Content other
 than the Licensed Content; (iii) bookmarking of Interactive Sites; (iv)
 changing the default home page on the AOL browser; (v) to promoting any other
 Interactive Service; or (vi) promoting any SB Interactive Site as preferential
 to the AOL YP Product. In the spirit of Section 11, general communications
 (i.e., non-targeted mass distributions) sent to registered users of any SB
 Interactive Site shall not be subject to the restrictions contained in this
 Section 12..

 13. Collection and Use of User Information. SB shall ensure that its
 collection, use and disclosure of information obtained from AOL Users under
 this Agreement ("User Information") complies with (i) all applicable laws and
 regulations and (ii) AOL's standard privacy policies, available on the AOL
 Service at the keyword term "Privacy". Subject to the Confidentiality
 restrictions contained herein, SB will not disclose User Information collected
 hereunder to any third party in a manner that identifies AOL Users as end users
 of an AOL product or service or use User Information collected under this
 Agreement to market another Interactive Service.

 14. Excuse. Neither Party will be liable for, or be considered in breach of or
 default under this Agreement on account of, any delay or failure to perform as
 required by this Agreement as a result of any causes or conditions which are
 beyond such Party's reasonable control and which such Party is unable to
 overcome by the exercise of reasonable diligence.

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15.  Independent Contractors.  The Parties to this Agreement are independent
contractors.  Neither Party is an agent, representative or employee of the other
Party.  Neither Party will have any right, power or authority to enter into any
agreement for or on behalf of, or incur any obligation or liability of, or to
otherwise bind, the other Party.  This Agreement will not be interpreted or
construed to create an association, agency, joint venture or partnership between
the Parties or to impose any liability attributable to such a relationship upon
either Party.

16.  Notice.  Any notice, approval, request, authorization, direction or other
communication under this Agreement will be given in writing and will be deemed
to have been delivered and given for all purposes (i) on the delivery date if
delivered by electronic mail on the AOL Network (to screenname
"AOLNotice@AOL.com" in the case of AOL) or by confirmed facsimile; (ii) on the
delivery date if delivered personally to the Party to whom the same is directed;
(iii) one business day after deposit with a commercial overnight carrier, with
written verification of receipt; or (iv) five business days after the mailing
date, whether or not actually received, if sent by U.S. mail, return receipt
requested, postage and charges prepaid, or any other means of rapid mail
delivery for which a receipt is available.  In the case of AOL, such notice will
be provided to both the Senior Vice President for Business Affairs (fax no. 703-
265-1206) and the Deputy General Counsel (fax no. 703-265-1105), each at the
address of AOL set forth in the first paragraph of this Agreement.  In the case
of SB, such notice will be provided to both the President and the General
Counsel (fax no. (508) 870-2000) each at the address for SB set forth in the
first paragraph of this Agreement.

17.  No Waiver.  The failure of either Party to insist upon or enforce strict
performance by the other Party of any provision of this Agreement or to exercise
any right under this Agreement will not be construed as a waiver or
relinquishment to any extent of such Party's right to assert or rely upon any
such provision or right in that or any other instance; rather, the same will be
and remain in full force and effect.

18.  Return of Information.  Upon the expiration or termination of this
Agreement, each Party will, upon the written request of the other Party, return
or destroy (at the option of the Party receiving the request) all confidential
information, documents, manuals and other materials specified by the other
Party.

19.  Survival.  Sections 3, 5, 6.4, 7, 8, 11.5, 17, 18, 19, 20 and 21 of the
body of the Agreement, Sections 1 through 29 of this Exhibit I, and any payment
obligations accrued prior to termination or expiration, and any other provision
which, by its nature or express terms should survive termination, will survive
the completion, expiration, termination or cancellation of this Agreement.

20.  Entire Agreement.  This Agreement and the Exhibits attached hereto, the
Stock Purchase Agreement, and the Source Code Escrow Agreement, sets forth the
entire agreement and supersedes any and all prior agreements of the Parties with
respect to the transactions set forth herein.  Neither Party will be bound by,
and each Party specifically objects to, any term, condition or other provision
which is different from or in addition to the provisions of this Agreement
(whether or not it would materially alter this Agreement) and which is proffered
by the other Party in any correspondence or other document, unless the Party to
be bound thereby specifically agrees to such provision in writing.

21.  Amendment.  No change, amendment or modification of any provision of this
Agreement will be valid unless set forth in a written instrument signed by the
Party subject to enforcement of such amendment, and in the case of AOL, by an
executive of at least Vice President level.

22.  Further Assurances.  Each Party will take such action (including, but not
limited to, the execution, acknowledgment and delivery of documents) as may
reasonably be requested by any other Party for the implementation or continuing
performance of this Agreement.

23.  Construction; Severability.  In the event that any provision of this
Agreement conflicts with the law under which this Agreement is to be construed
or if any such provision is held invalid by a court with jurisdiction over the
Parties to this Agreement, (i) such provision will be deemed to be restated to
reflect as nearly as possible the original intentions of the Parties in
accordance with applicable law, and (ii) the remaining terms, provisions,
covenants and restrictions of this Agreement will remain in full force and
effect.

24.  Remedies.  Except where otherwise specified, the rights and remedies
granted to a Party under this Agreement are cumulative and in addition to, and
not in lieu of, any other rights or remedies which the Party may possess at law
or in equity; provided that, in connection with any dispute hereunder, neither
Party will be entitled to offset any amounts that it claims to be due and
payable from the other Party against amounts otherwise payable by such Party.

25.  Applicable Law.  Except as otherwise expressly provided herein, this
Agreement will be interpreted, construed and enforced in all respects in
accordance with the laws of the State of New York except for its conflicts of
laws principles.

26.  Export Controls.  Both Parties will adhere to all applicable laws,
regulations and rules relating to the export of technical data and will not
export or re-export any technical data, any products received from the other
Party or the direct product of such technical data to any proscribed country
listed in such applicable laws, regulations and rules unless properly
authorized.

27.  Headings.  The captions and headings used in this Agreement are inserted
for convenience only and will not affect the meaning or interpretation of this
Agreement.

28.  Counterparts; Facsimile.  This Agreement may be executed in counterparts,
each of which will be deemed an original and all of which together will
constitute one and the same document.  This Agreement, and written amendments
hereto, may be executed by facsimile.

29.  Remedies Not Exclusive. AOL shall have the right, without limitation, to
seek any remedies under this Agreement, under applicable law or in equity, in
the event AOL terminates this Agreement due to SB's material breach of any
applicable restriction set forth herein on SB's use of AOL Features or
Functionality.

  CONFIDENTIAL - AOL - SWITCHBOARD DIRECTORY AND LOCAL ADVERTISING PLATFORM
                              SERVICES AGREEMENT

                                       61
<PAGE>

                                                                  EXECUTION COPY

 Confidential Materials omitted and filed separately with the Securities and
               Exchange Commission. Asterisks denote omissions.

EXHIBIT J

HOURLY SB ENGINEERING RATES

Consulting Engineer:    $[**] per hour

Senior Engineer:        $[**] per hour

Engineer:               $[**] per hour

   CONFIDENTIAL - AOL - SWITCHBOARD DIRECTORY AND LOCAL ADVERTISING PLATFORM
                               SERVICES AGREEMENT

                                        62<PAGE>

                                                                   Exhibit 10.48
                                                                   -------------

 Confidential Materials omitted and filed separately with the Securities and
               Exchange Commission. Asterisks denote omissions.

                            Switchboard Incorporated

                  Common Stock and Warrant Purchase Agreement

     This Common Stock and Warrant Purchase Agreement  (this "Agreement") dated
as of December 11, 2000 is entered into between Switchboard Incorporated, a
Delaware corporation (the "Company"), and America Online, Inc., a Delaware
corporation (the "Purchaser").  The Company and the Purchaser are sometimes
referred to in this Agreement each as a "Party" and together as the "Parties".

     In consideration of the mutual promises and covenants contained in this
Agreement, the Parties agree as follows:

     1.  Sale of Securities.  Subject to and in accordance with the terms and
         ------------------
conditions of this Agreement and in consideration of the Purchaser entering into
that certain Directory and Local Advertising Platform Services Agreement dated
the date hereof between the Parties (the "Directory Agreement") and delivering
to the Company at the Closing the Cash Purchase Price (as defined in Section 2
of this Agreement), the Company will sell and issue to the Purchaser, and the
Purchaser will purchase from the Company, (i) at the Closing (as defined in
Section 2 of this Agreement) 746,260 shares (the "Closing Shares" and together
with the Post-Closing Shares (as defined in Section 5.1(b) of this Agreement),
the "Shares") of the Company's common stock, $.01 par value per share (the
"Common Stock"), (ii) subsequent to the Closing, in accordance with and subject
to the provisions of Sections 5.1(a) and 5.1(b) of this Agreement, the Post-
Closing Shares and (iii) subsequent to the Closing, in accordance with and
subject to the provisions of Section 5.1(c) of this Agreement, a warrant to
purchase shares of Common Stock in the form appended to this Agreement as Annex
                                                                          -----
1 (the "Warrant").
-

     2.  The Closing.  The closing (the "Closing") of the sale and purchase of
         -----------
the Closing Shares under this Agreement shall take place at the offices of Hale
and Dorr LLP, 60 State Street, Boston, Massachusetts at 8:00 a.m. on December
11, 2000, or at such other time, date and place as are mutually agreeable to the
Company and the Purchasers. At the Closing, the Company shall deliver to the
Purchaser a certificate for the Closing Shares registered in the name of the
Purchaser against payment by the Purchaser to the Company of a cash amount equal
to $7,462.60 (the "Cash Purchase Price") by check or wire transfer to an account
designated by the Company. The date of the Closing is hereinafter referred to as
the "Closing Date".

     3.  Representations of the Company.  Except as disclosed by the Company in
         ------------------------------
Annex 3 appended to this Agreement, the Company hereby represents and warrants
-------
to the Purchaser that the statements contained in this Section 3 are true,
complete and correct. Annex 3 shall be arranged in paragraphs corresponding to
                      -------
the numbered and lettered paragraphs contained in this Section 3, and the
disclosures in any paragraph of Annex 3 shall be deemed disclosed for and to
                                -------
qualify both (i) the corresponding paragraph of this Section 3 and (ii) any
other paragraph of this Section 3 to the extent a reasonable person would
determine that the disclosure contained in such paragraph of Annex 3 could
                                                             -------
qualify or otherwise apply to other paragraphs of this Section 3,
notwithstanding the absence of a specific cross-reference.
<PAGE>

          3.1  Organization and Standing.  The Company is a corporation duly
               -------------------------
organized, validly existing and in good standing under the laws of the State of
Delaware and has full corporate power and authority to conduct its business as
presently conducted and as proposed to be conducted by it and to enter into and
perform this Agreement and to carry out the transactions contemplated by this
Agreement.

          3.2  Capitalization.  The authorized capital stock of the Company
               --------------
(immediately prior to the Closing) consists of (i) 85,000,000 shares of Common
Stock, of which 24,875,343 shares were issued and outstanding as of October 31,
2000, and (ii) 5,000,000 shares of preferred stock, $.01 par value per share, of
which one share has been designated as series E special voting preferred stock,
which share is issued and outstanding as of the date of this Agreement.

          3.3  Issuance of Securities.  The issuance, sale and delivery of the
               ----------------------
Shares and the Warrant in accordance with this Agreement, and the issuance and
delivery of the shares of Common Stock issuable upon exercise of the Warrant
(the "Warrant Shares"), have been, or will be on or prior to the Closing, duly
authorized by all necessary corporate action on the part of the Company, and all
such shares have been duly reserved for issuance. The Shares when so issued,
sold and delivered against payment therefor in accordance with the provisions of
this Agreement, and any Warrant Shares, when issued in accordance with the terms
of the Warrant upon its exercise, will be duly and validly issued, fully paid
and nonassessable.

          3.4  Governmental Consents.  Except as may be required by the
               ---------------------
Hart-Scott Rodino Antitrust Improvements Act of 1976, as amended (the "HSR
Act"), no consent, approval, order or authorization of, or registration,
qualification, designation, declaration or filing with, any court, arbitrational
tribunal, administrative agency or commission or other governmental or
regulatory authority or agency (each of the foregoing is hereafter referred to
as a "Governmental Entity") is required on the part of the Company in connection
with the execution and delivery of this Agreement, the offer, issuance, sale and
delivery of the Shares and the Warrant, the issuance and delivery of the Warrant
Shares, as contemplated by this Agreement, except such filings as shall have
been made prior to and shall be effective on and as of the Closing and such
filings required to be made after the Closing under applicable federal and state
securities laws. Based on the representations made by the Purchaser in Section 4
of this Agreement, the offer and sale of the Closing Shares to the Purchaser
will be in compliance with applicable federal and state securities laws.

          3.5  Reports and Financial Statements.  The Company has previously
               --------------------------------
made available to the Purchaser complete and accurate copies, as amended or
supplemented, of its (a) Quarterly Report on Form 10-Q for the fiscal quarter
ended September 30, 2000, as filed with the Securities and Exchange Commission
(the "Commission"), and (b) Registration Statement on Form S-1 (Commission File
No. 333-90013), as filed with the Commission (such reports are collectively
referred to herein as the "Company Reports").  As of their respective dates, the
Company Reports did not contain any untrue statement of a material fact or omit
to state a material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made,
not misleading.  The audited financial statements and unaudited interim
financial statements of the Company included in the Company Reports (i) comply
in all material respects with applicable accounting requirements and the
published rules and regulations of the Commission with respect thereto, (ii)
have been prepared

                                      -2-
<PAGE>

in accordance with United States generally accepted accounting principles
("GAAP") applied on a consistent basis throughout the periods covered thereby
(except as may be indicated therein or in the notes thereto, and in the case of
quarterly financial statements, as permitted by Form 10-Q under the Securities
Exchange Act of 1934, as amended), and (iii) fairly presented the consolidated
financial condition, results of operations and cash flows of the Company as of
the respective dates thereof and for the periods referred to therein.

          3.6  Litigation.  There is no action, suit or legal proceeding, or
               ----------
governmental inquiry or investigation, pending against the Company, or, to the
Company's knowledge, threatened against the Company which questions the validity
of this Agreement or the right of the Company to enter into this Agreement.

          3.7  Absence of Certain Changes.  Except as disclosed in the Company
               --------------------------
Reports, since September 30, 2000, there has been no change, event or effect
that is materially adverse to the assets, business, financial condition or
results of operations of the Company, except for those changes, events and
effects that are directly caused by (I) conditions affecting the United States
economy as a whole, (II) conditions affecting the industry in which the Company
competes as a whole, (III) fluctuations in the market price of the Common Stock,
or (IV) events occurring in the ordinary course of business.

          3.8  Undisclosed Liabilities.  The Company has no liability (whether
               -----------------------
absolute, accrued, contingent or otherwise) of a nature required by GAAP to be
shown on a balance sheet, except for (i) liabilities reflected in the Company
Reports, (ii) liabilities which have arisen since September 30, 2000 in the
ordinary course of business and (iii) contractual liabilities incurred in the
ordinary course of business.

     4.  Representations of the Purchaser.  The Purchaser represents and
         --------------------------------
warrants to the Company as follows:

          4.1  Investment.  The Purchaser is acquiring the Shares, the Warrant,
               ----------
and any Warrant Shares, for its own account for investment and not with a view
to, or for sale in connection with, any distribution thereof, nor with any
present intention of distributing or selling the same; and, except as
contemplated by this Agreement, such Purchaser has no present or contemplated
agreement, undertaking, arrangement, obligation, indebtedness or commitment
providing for the disposition thereof. The Purchaser is an "accredited investor"
as defined in Rule 501(a) under the Securities Act.

          4.2  Company Securities.  As of June 30, 1999, the Purchaser
               ------------------
beneficially owned 750,000 shares of the Company's series A preferred stock,
$.01 par value per share, which were then convertible into 750,000 shares of
Common Stock, and no other securities of the Company. As of the date hereof, the
Purchaser beneficially owns 750,000 shares of Common Stock and no other
securities of the Company.

          4.3  Experience.  The Purchaser has carefully reviewed the
               ----------
representations concerning the Company contained in this Agreement and has made
detailed inquiry concerning the Company, its business and its personnel; the
officers of the Company have made available to the Purchaser any and all written
information which it has requested and have answered to

                                      -3-
<PAGE>

the Purchaser's satisfaction all inquiries made by the Purchaser; and the
Purchaser has sufficient knowledge and experience in finance and business that
it is capable of evaluating the risks and merits of its investment in the
Company and the Purchaser is able financially to bear the risks of that
investment.

          4.4  Organization and Standing.  The Purchaser is a corporation duly
               -------------------------
organized, validly existing and in good standing under the laws of the State of
Delaware and has the corporate power and authority to conduct its business as
presently conducted by it and to enter into and perform this Agreement and to
carry out the transactions contemplated by this Agreement. The Purchaser has not
been organized, reorganized or recapitalized specifically for the purpose of
investing in the Company.

          4.5  Governmental Consents.  Except as may be required by the HSR Act,
               ---------------------
no consent, approval, order or authorization of, or registration, qualification,
designation, declaration or filing with, any Governmental Entity is required on
the part of the Purchaser in connection with the execution and delivery by the
Purchaser of this Agreement, except such filings as shall have been made prior
to and shall be effective on and as of the Closing, and except any filings that,
if not made as required, would not have a material adverse effect on the ability
of the Purchaser to perform its obligations under this Agreement.

          4.6  Litigation.  There is no action, suit or legal proceeding, or
               ----------
governmental inquiry or investigation, pending against the Purchaser or, to the
Purchaser's knowledge, threatened against the Purchaser which questions the
validity of this Agreement or the right of the Purchaser to enter into this
Agreement, or which would have a material adverse effect on the ability of the
Purchaser to perform its obligations under this Agreement.

     5.  Covenants.
         ---------

          5.1  Issuance of Securities.
               ----------------------

               (a)  24 Month Shares.  If the Directory Agreement has not been
                    ---------------
     terminated by the date which is 24 months after the date of this Agreement
     (the "24 Month Date"), then, within ten business days after the 24 Month
     Date, the Company shall issue and deliver to the Purchaser 746,260 shares
     of Common Stock (as adjusted for any stock split, reverse stock split,
     stock dividend, reclassification or other similar event) (the "24 Month
     Shares"); provided, that, the Company shall not be required to issue or
               --------  ----
     deliver the 24 Month Shares to the Purchaser unless it shall have first
     received from the Purchaser an executed investment letter in the form
     appended to this Agreement as Annex 5.1(a).
                                   ------------

               (b)  36 Month Shares.  If the Directory Agreement has not been
                    ---------------
     terminated by the date which is 36 months after the date of this Agreement
     (the "36 Month Date"), then, within ten business days after the 36 Month
     Date, the Company shall issue and deliver to the Purchaser 746,260 shares
     of Common Stock (as adjusted for any stock split, reverse stock split,
     stock dividend, reclassification or other similar event) (the "36 Month
     Shares" and together with the 24 Month Shares, the "Post-Closing Shares");
     provided,that, the Company shall not be required to issue or deliver the
     -------- ----
     36 Month Shares to the Purchaser unless it

                                      -4-
<PAGE>

     shall have first received from the Purchaser an executed investment letter
     in the form appended to this Agreement as Annex 5.1(b).
                                               ------------

               (c)  Warrant.  If the Purchaser and the Company agree in writing
                    -------
     to renew the Directory Agreement for a period of a minimum of four years
     after the expiration of the Initial Term (as defined in the Directory
     Agreement) pursuant to Section 19.1 of the Directory Agreement, the Company
     shall issue and deliver to the Purchaser the Warrant within ten business
     days of the expiration of the Initial Term; provided, that, the Company
                                                 --------  ----
     shall not be required to issue or deliver the Warrant to the Purchaser
     unless it has first received from the Purchaser an executed investment
     letter in the form appended to this Agreement as Annex 5.1(c).
                                                      ------------

          5.2  Reservation of Common Stock.  The Company will at all times
               ---------------------------
during which securities remain issuable pursuant to Section 5.1 of this
Agreement and upon exercise of the Warrant reserve and keep available, solely
for issuance and delivery pursuant to the terms of Section 5.1 of this Agreement
or upon the exercise of the Warrant, as applicable, such number of shares of
Common Stock and other stock, securities and property, as from time to time may
be issuable pursuant to the terms of this Agreement and upon the exercise of the
Warrant.

          5.3  Directory Events.
               ----------------

               (a)  For purposes of this Agreement, a "Directory Event" shall
mean the occurrence of any one or more of the following:

                    (i)  delivery by the Company to the Purchaser of notice of
termination of the Directory Agreement by the Company pursuant to Section 9.3 of
the Directory Agreement; and

                    (ii) delivery by the Purchaser to the Company of notice of
termination of the Directory Agreement by the Purchaser pursuant to Section
11.5.4 of the Directory Agreement.

               (b)  Notwithstanding anything to the contrary in this Agreement
or any agreement or instrument entered into between, or executed by, the Company
and/or the Purchaser, immediately upon the occurrence of any one or more than
one of the Directory Events (the "Directory Event Date"), and without any notice
whatsoever, to the Purchaser or otherwise, all Closing Shares shall be
immediately cancelled, with any and all certificates representing such cancelled
Closing Shares being returned promptly to the Company (but in any case not more
than 20 days subsequent to the Directory Event Date) and reflected in the record
books of the Company as "CANCELLED" (notwithstanding the return or failure to
return of such certificates to the Company).

               (c)  Whenever the context may require, the terms "Shares",
"Closing Shares", "24 Month Shares", "36 Month Shares", "Post-Closing Shares"
and "Warrant Shares", as used in this Agreement shall include any securities or
other property issued with respect to or in substitution for such securities.

     5.4  HSR Act Filings.  Prior to any acquisition of any Post-Closing Shares
          ---------------
pursuant to the terms of this Agreement and prior to any exercise of the
Warrant, in whole or in

                                      -5-
<PAGE>

         Confidential Materials omitted and filed separately with the
        Securities and Exchange Commission. Asterisks denote omissions.

part, the Purchaser hereby agrees to provide the Company with written notice
(the "HSR Notice") to the extent such acquisition of Post-Closing Shares or such
exercise of the Warrant, as the case may be, could reasonably be expected to
require the filing of any Notification and Report Forms and related material, or
any successor forms and related material with the Federal Trade Commission and
the Antitrust Division of the United States Department of Justice, or any
successor agencies, under the HSR Act, or any successor statutes and
regulations. In addition, the Purchaser hereby agrees, and upon receipt of the
HSR Notice the Company hereby agrees, to use commercially reasonable efforts (i)
to promptly file any HSR Filing that may be required, (ii) to obtain an early
termination of any applicable waiting period and (iii) to make any further
filings or information submissions and take such other actions pursuant to the
HSR Act, or any successor statutes and regulations, that may be necessary,
proper, or advisable. Notwithstanding anything in this Agreement or in the
Warrant to the contrary, in no event shall the Company issue any Post-Closing
Shares or shall the Purchaser exercise the Warrant, in whole or in part, prior
to the expiration of any applicable waiting periods and receipt by the Parties
of all notices, approvals, orders, qualifications, declarations and clearances
under the HSR Act, or any successor statutes and regulations (and in the case of
any issuance by the Company of any Post-Closing Shares, the Company shall have
up to ten business days after such expiration and receipt, but in any event no
less time than the respective time permitted under Section 5.1 of this Agreement
or under the Warrant, to effect such issuance). In the event that there is an
additional request by the Federal Trade Commission or the Antitrust Division of
the United States Department of Justice, or any successor agencies, which either
Party reasonably believes is too excessive in scope or substance to warrant the
continuation of the HSR Act filing and clearance process (a "Notice of Excess"),
then upon written notice to the other Party, neither Party shall be obligated
under this Section 5.4 to (A) respond to such formal requests for additional
information or documentary material pursuant to 16 C.F.R. 803.20 under the HSR
Act, or any successor statutes or regulations (a "Formal Response") or (B) to
sell or dispose of or hold separately (through a trust or otherwise) any assets
or businesses of such Party or the affiliates of such Party; provided, that, if
                                                             --------  ----
the Company provides a Notice of Excess to the Purchaser, the Company shall
within ten business days of the due date for the Formal Response to which such
Notice of Excess applied, pay to the Purchaser in cash by check or wire transfer
to an account designated by the Purchaser the amounts which follow, as
applicable: (y) if the applicable HSR Notice was with respect to the 24 Month
Shares or the 36 Month Shares, $[**], respectively, and (z) if the
applicable HSR Notice was with respect to any number of Warrant Shares which are
unissuable or unexercisable under this Section 5.4 due to HSR Act requirements,
such amount as equals (I) $4.32 multiplied by (II) such number of Warrant
Shares.

          5.5  Acquisition of Company Securities.
               ---------------------------------

               (a)  From and after the date hereof and until the Permitted
Acquisition Date (as defined in Section 5.5(c)(i) of this Agreement), without
the prior written consent of the Company, the Purchaser shall not purchase or
otherwise acquire or propose or offer to purchase or otherwise acquire, and the
Purchaser shall prevent all Purchaser Affiliates (as defined in Section 8(a) of
this Agreement) from beneficially purchasing or otherwise acquiring or proposing
or offering to purchase or otherwise acquire, directly or indirectly, whether by
tender or exchange offer, market purchase, privately negotiated purchase, merger
or other business combination or otherwise, either any securities of the Company
(or any beneficial ownership interest therein) or any Voting Interest (as
defined in Section 5.5(c)(ii) of this Agreement) other

                                      -6-
<PAGE>

         Confidential Materials omitted and filed separately with the
        Securities and Exchange Commission. Asterisks denote omissions.

 than securities and the Voting Interest beneficially owned by the Purchaser as
of the date hereof and after giving effect to the Closing; provided, that:
                                                           --------  ----

                    (i)  the Purchaser may acquire securities of the Company as
a result of any stock dividend, stock split, reclassification or similar event
with respect to the Common Stock;

                    (ii) the Purchaser may acquire securities of the Company to
the extent (the "Permitted Extent") that such securities, when aggregated with
all other securities and Voting Interest beneficially owned by the Purchaser or
any Purchaser Affiliate (including, without limitation, the maximum number of
shares of Common Stock issuable pursuant to this Agreement (assuming, solely for
purposes of this Section 5.5(a)(ii), that such shares were issued and
outstanding as of the date of any such acquisition) and the maximum number of
shares of Common Stock issuable upon exercise of the Warrant, on an as-exercised
basis (assuming, solely for purposes of this Section 5.5(a)(ii), that the
Warrant and such shares were issued and outstanding as of the date of any such
acquisition)), do not represent as of the date of any such acquisition [**]% or
more of the outstanding shares of Common Stock (specifically including, for
purposes of calculating such number of outstanding shares of Common Stock, any
and all shares of Common Stock actually issued as of such date pursuant to this
Agreement and any and all shares of Common Stock actually issued as of such date
upon exercise of the Warrant, and specifically excluding all shares of Common
Stock issuable but not issued as of such date under this Agreement and upon
exercise of the Warrant), or a [**]% or more Voting Interest;

                    (iii) unless otherwise restricted by the provisions of this
Agreement or the Warrant, the Purchaser may (A) acquire shares of Common Stock
pursuant to the terms of Sections 5.1(a) and 5.1(b) of this Agreement, (B)
acquire the Warrant pursuant to the terms of Section 5.1(c) of this Agreement
and (C) may acquire shares of Common Stock pursuant to an exercise of the
Warrant pursuant to the terms of the Warrant; and

                    (iv) the Purchaser may acquire securities of the Company (A)
pursuant to a tender offer, provided, that, it be a condition to such tender
                            --------  ----
offer that the Purchaser acquire in such tender offer greater than [**]% of the
outstanding shares of Common Stock at the time of the closing of such tender
offer or (B) pursuant to any merger or purchase agreement entered into between
the Company and the Purchaser.

               (b)  If the Purchaser or any Purchaser Affiliate at any time
prior to the Permitted Acquisition Date acquires, in violation of this Section
5.5, securities of the Company in excess of the Permitted Extent (and such
violation is unknowing and unintentional), the Purchaser shall deliver to the
Company written notice thereof as soon as practicable, but in any event no later
than two business days after such acquisition comes to the attention of the
Purchaser (a "Purchaser Excess Notice"). As soon as practicable after the
earlier date to occur (the "Excess Notice Date") of (i) the date of the
Purchaser Excess Notice and (ii) the delivery by the Company to the Purchaser of
a written notice that the Company is aware that the Purchaser or a Purchaser
Affiliate may have acquired securities of the Company in excess of the Permitted
Extent, and in any event not more than 30 days after such Excess Notice Date,
the Purchaser shall sell, transfer, dispose of or otherwise divest itself or its
Purchaser Affiliates of such number of securities of the Company such that the
Purchaser no longer beneficially owns securities of

                                      -7-
<PAGE>

         Confidential Materials omitted and filed separately with the
        Securities and Exchange Commission. Asterisks denote omissions.

the Company in excess of the Permitted Extent (an "Excess Disposition");
provided, that, if the provisions of applicable law or any Contractual
--------  ----
Restrictions (as defined in this Section 5.5(b)) prohibit an Excess Disposition
within such 30-day period, the Purchaser shall effect an Excess Disposition as
soon as practicable after such prohibitions lapse (the "Prohibition Termination
Date") and in any event no later than 30 days after the Prohibition Termination
Date. In the event that the provisions of applicable law or any Contractual
Restrictions prohibit an Excess Disposition within 30 days after the Excess
Notice Date, the Purchaser shall provide notice thereof and of the expected
applicable Prohibition Termination Date to the Company (an "Extension Notice")
at least five business days prior to the end of such 30-day period. For purposes
of this Agreement "Contractual Restrictions" shall mean any provision of any
agreement which is enforceable by the Company against the Purchaser (which
restrictions have not been waived by the Company). For the avoidance of doubt,
this Section 5.5(b) shall not impose upon the Company any obligation to register
shares of its Common Stock in addition to or different from the provisions of
any registration rights agreement. The provisions of this Section 5.5(b) shall
be inapplicable to any acquisition of securities of the Company by the Purchaser
or a Purchaser Affiliate if such acquisition causes the Purchaser's beneficial
ownership of the Company to equal or exceed [**]% of the outstanding shares of
Common Stock (calculated consistent with Section 5.5(a)(ii) of this Agreement)
or to equal or exceed [**]% of the Voting Interest of the Company (a "[**]%
Acquisition").

               (c)  For purposes of this Agreement:

                    (i) "Permitted Acquisition Date" means the earlier of (A)
July 1, 2009 and (B) the date of termination of both that certain [**] Agreement
dated as of [**] between the Company and [**] and that certain License Agreement
dated as of [**] between the Company and [**], each as amended or extended
pursuant to its respective terms (such agreements together, the "[**]
Agreements"); and

                    (ii) "Voting Interest" means the aggregate percentage of
votes for elections of directors of the Company and/or approval of other matters
presented for a vote of securityholders of the Company generally controlled,
directly or indirectly, by the Purchaser or any Purchaser Affiliate, assuming
the conversion, exchange or exercise by the Purchaser and all Purchaser
Affiliates of securities of the Company or any other instrument, agreement or
right into or for Common Stock or other voting securities of the Company,
including, without limitation, all votes governed or controlled by any voting
agreement, trust, group or other arrangement, formal or informal, to or of which
the Purchaser or any Purchaser Affiliate is a party or a member and all votes
solicited by the Purchaser or any Purchaser Affiliate by proxy, consent or
otherwise.

               (d)  To the extent required by law, the Purchaser may file a
Schedule 13D and any successor forms, and any amendments thereto, with the
Commission to reflect information with respect to its ownership interest in the
Company and any proposals it is not prohibited under this Section 5.5 from
making or other actions it is not prohibited under this Section 5.5 from taking.

                                      -8-
<PAGE>

         Confidential Materials omitted and filed separately with the
        Securities and Exchange Commission. Asterisks denote omissions.

               (e) The Company has entered into a letter agreement with [**],
dated [**] (the "[**] Letter"). The Company hereby acknowledges that the
[**] Letter is and has been a significant consideration for the Purchaser's
decision to enter into this Agreement, and therefore, the Company agrees not to
agree to any amendment of the [**] Letter without the express prior written
consent of the Purchaser.

               (f)  The Purchaser shall indemnify the Company in respect of, and
hold it harmless against, any and all actual and direct damages (and not
consequential damages) of the Company under the [**] Agreements resulting from
any termination of either or both of the [**] Agreements (pursuant to the terms
thereof) due to any breach by the Purchaser of this Section 5.5
("[**] Damages"). The Purchaser shall not be obligated to indemnify the Company
as set forth in this Section 5.5(f) for any [**] Damages resulting solely from
any acquisition (other than a [**]% Acquisition), in violation of this Section
5.5 (which such violation was unknowing and unintentional), of securities of the
Company by the Purchaser or any Purchaser Affiliate with respect to which the
Purchaser effects an Excess Disposition within the time periods set forth in
Section 5.5(b) of this Agreement. In no event shall the aggregate
indemnification liability of the Purchaser under this Section 5.5(f) exceed
$[**] In the event of any amendment of any of the [**] Agreements after the date
hereof without the prior written consent of the Purchaser, such amendment shall
not cause the Purchaser's indemnification liability under this Section 5.5(f) to
be increased beyond the indemnification liability for which the Purchaser would
have been liable under this Section 5.5(f) pursuant to the terms of the [**]
Agreements which are in effect as of the date hereof.

               (g) For avoidance of doubt, the Purchaser shall not be deemed to
have breached this Section 5.5, and therefore shall not be liable for any
indemnity under Section 5.5(f) of this Agreement, in the event that the
Purchaser's ownership or Voting Interest in the Company exceeds the Permitted
Extent (or [**]% of the outstanding shares of Common Stock (calculated
consistent with Section 5.5(a)(iii) of this Agreement) or [**]% of the Voting
Interest of the Company, as applicable) solely as an immediate consequence of a
repurchase of any of the Company's securities by the Company in one transaction
or through a series of related transactions.

               (h)  If the Purchaser or any Purchaser Affiliate at any time
prior to the Permitted Acquisition Date acquires securities of the Company or
any Voting Interest in excess of the Permitted Extent, the Purchaser shall
deliver to the Company written notice thereof as soon as practicable, but in any
event no later than two business days after such acquisition comes to the
attention of the Purchaser; provided, that, the Purchaser shall not provide
                            --------  ----
any such notice in addition to a Purchaser Excess Notice. If the Purchaser
delivers to the Company any Purchaser Excess Notice or any Extension Notice
pursuant to Section 5.5(b) of this Agreement or any notice pursuant to the
immediately preceding sentence of this Section 5.5(h), the Purchaser shall also
deliver a copy of such Purchaser Excess Notice, such Extension Notice or such
other notice to [**],Attention: General Counsel.

          5.6  Acquisition Offers.
               ------------------

                                      -9-
<PAGE>

         Confidential Materials omitted and filed separately with the
        Securities and Exchange Commission. Asterisks denote omissions.

               (a)  For purposes of this Agreement, the following terms shall
have the following meanings:

                    (i)   "Acquisition Offer" means a bona fide offer to (A)
acquire, whether by tender or exchange offer, merger or other business
combination, securities of the Company to the extent that after such acquisition
the Offeror would own at least [**] of the outstanding securities of the
Company, or (B) acquire all or substantially all of the assets of the Company.

                    (ii)  "Acquisition Transaction" means a transaction
described in clause (A) or (B) of Section 5.6(a)(i) of this Agreement.

                    (iii) "No-Shop Agreement" means an agreement providing that
the Company shall not (A) engage in negotiations relating to an Acquisition
Transaction with a party other than a specific Offeror and (B) solicit any
proposal relating to an Acquisition Transaction from a party other than a
specific Offeror.

                    (iv)  "Offeror" means any person or entity or group of
persons or entities other than the Purchaser or a Purchaser Affiliate that makes
an Acquisition Offer to the Company.

               [**]

               (c)  The Purchaser shall hold in confidence, and shall not
directly or indirectly disclose (or permit or suffer its personnel to disclose)
to any person outside its organization, any Acquisition Notice and the contents
thereof (collectively, the "Confidential Information"). The Purchaser shall
disclose the Confidential Information only to persons within its organization or
its accountants or attorneys who have a need to know such Confidential
Information in the course of the performance of their duties. The Purchaser
shall take steps which are reasonably calculated to protect the confidentiality
of Confidential Information and shall be responsible to the Company for any
disclosure or misuse of Confidential Information which results from a failure to
comply with this Section 5.6(c). The Purchaser will promptly report to the
Company in writing any known or suspected violation of the terms of this Section
5.6(c) and will take all reasonable further steps requested by the Company to
prevent, control or remedy any such violation.

                                      -10-
<PAGE>

         Confidential Materials omitted and filed separately with the
        Securities and Exchange Commission. Asterisks denote omissions.

     6.  Conditions to the Obligations of the Purchaser.  The obligation of the
         ----------------------------------------------
Purchaser to purchase the Closing Shares at the Closing is subject to the
execution by the Company, and the delivery to the Purchaser, of the following
agreements on or before the Closing:

               (a)  The Registration Rights Agreement appended to this
Agreement as Annex 6(a) (the "Registration Rights Agreement"); and
             ----------

               (b)  the Directory Agreement.

     7.  Condition to the Obligations of the Company.  The obligations of the
         -------------------------------------------
Company under Section 1 of this Agreement are subject to the execution by the
Purchaser, and the delivery to the Company, of the Directory Agreement on or
before the Closing.

     8.  Requirements for Transfer.
         -------------------------

               (a)  Neither the Shares nor the Warrant nor the Warrant Shares
nor any interest therein (collectively, the "Restricted Securities") shall be
sold or otherwise transferred, in whole or in part, in any respect; provided,
                                                                    --------
that, the Purchaser may transfer all of the Restricted Securities (but not less
----
than all of the Restricted Securities) to any entity controlling, controlled by
or under common control of the Purchaser (a "Purchaser Affiliate") if (I) the
transferee agrees in writing as part of such notice to be bound by the terms of
this Agreement (including, without limitation, the terms of Section 5.5 of this
Agreement) and the Warrant, (II) America Online, Inc. agrees in writing as part
of such notice to remain primarily responsible for all of the obligations of the
transferee under this Agreement and the Warrant and (III) either such transfer
shall have been registered under the Securities Act of 1933, as amended (the
"Securities Act"), or the Company first shall have been furnished with such
representation letters and other documentation, reasonably satisfactory to the
Company, to the effect that such transfer is exempt from the registration
requirements of the Securities Act. Notwithstanding the foregoing, upon the
occurrence of their respective Transfer Dates, the Closing Shares, the 24 Month
Shares, the 36 Month Shares and the Warrant Shares, may each be transferred, in
whole or in part, in any respect if such transfer first shall have been
registered under the Securities Act or the Company first shall have been
furnished with such representation letters and other documentation, reasonably
satisfactory to the Company, to the effect that such transfer is exempt from the
registration requirements of the Securities Act. As used in this Agreement,
"Transfer Date" shall mean:

                    (i)  with respect to the Closing Shares, the date, if any,
on which the Purchaser delivers to the Company a true written certification to
the Company that the [**] (as defined in the Directory Agreement) is
effective;

                    (ii) with respect to the 24 Month Shares, the date 36 months
after the date of this Agreement;

                    (iii)  with respect to the 36 Month Shares, the date 48
months after the date of this Agreement;

                    (iv) with respect to the Warrant Shares, the date one year
after the Date of Issuance (as defined in the Warrant); and

                                      -11-
<PAGE>

                    (v)  with respect to any and all Shares and Warrant Shares
and notwithstanding the foregoing clauses (i), (ii), (iii) and (iv) of this
Section 8(a), the date, if any, on which the Directory Agreement is terminated
pursuant to Section 19.4 of the Directory Agreement.

               (b)  Each certificate representing the Shares and the Warrant
Shares shall bear a legend substantially in the following form:

          "The securities represented by this certificate have
          not been registered under the Securities Act of 1933,
          as amended, and may not be offered, sold or otherwise
          transferred, pledged or hypothecated unless and until
          such securities are registered under such Act or the
          Corporation obtains appropriate documentation to the
          effect that such registration is not required."

The foregoing legend shall be removed from the certificates representing any
Shares or any shares of Common Stock issuable upon exercise of the Warrant, at
the request of the holder thereof, at such time as they become eligible for
resale pursuant to Rule 144(k) under the Securities Act and upon the delivery to
the Company of such representation letters and other documentation, reasonably
satisfactory to the Company, that such legend may be removed.

               (c)  Each certificate representing Closing Shares shall bear a
legend substantially in the following form:

          "The shares represented by this certificate have been
          issued pursuant to, and are subject to cancellation
          without payment of additional consideration and
          restrictions on transfer set forth in a Common Stock
          and Warrant Purchase Agreement with the Corporation, a
          copy of which is available for inspection at the office
          of the Secretary of the Corporation."

               (d)  Each certificate representing Post-Closing Shares shall bear
a legend substantially in the following form:

          "The shares represented by this certificate have been
          issued pursuant to, and are subject to restrictions on
          transfer set forth in a Common Stock and Warrant
          Purchase Agreement with the Corporation, a copy of
          which is available for inspection at the office of the
          Secretary of the Corporation."

               (e)  Each certificate representing Warrant Shares shall bear a
legend substantially in the following form:

          "The shares represented by this certificate have been
          issued pursuant to, and are subject to restrictions on
          transfer set forth in a Common Stock and Warrant
          Purchase Agreement with the Corporation and a Common
          Stock Purchase Warrant issued by the

                                      -12-
<PAGE>

          Corporation, copies of which are available for
          inspection at the office of the Secretary of the
          Corporation."

     9.   Miscellaneous.
          -------------

          9.1  Successors and Assigns. This Agreement shall be binding upon and
               ----------------------
inure to the benefit of the parties and their respective successors and
permitted assigns. Neither Party may assign its respective rights or obligations
under this Agreement without the prior written consent of the other Party to
this Agreement.

          9.2  Survival of Representations and Warranties. The representations
               ------------------------------------------
and warranties contained herein shall survive the execution and delivery of this
Agreement and the closing of the transactions contemplated hereby for a period
of one year.

          9.3  Expenses. Each Party shall pay its own fees and expenses in
               --------
connection with the preparation and evaluation of this Agreement and the closing
of the transactions contemplated hereby.

          9.4  Brokers. The Company and the Purchaser will indemnify and save
               -------
the other Party harmless from and against any and all claims, liabilities or
obligations with respect to brokerage or finders' fees or commissions, or
consulting fees in connection with the transactions contemplated by this
Agreement asserted by any person on the basis of any statement or representation
alleged to have been made by such indemnifying Party.

          9.5  Severability. The invalidity or unenforceability of any provision
               ------------
of this Agreement shall not affect the validity or enforceability of any other
provision of this Agreement.

          9.6  Specific Performance. In addition to any and all other remedies
               --------------------
that may be available at law in the event of any breach of this Agreement, each
Party shall be entitled to specific performance of the agreements and
obligations of the other Party hereunder and to such other injunctive or other
equitable relief as may be granted by a court of competent jurisdiction.

          9.7  Governing Law. This Agreement shall be governed by and construed
               -------------
in accordance with the internal laws of the State of Delaware (without reference
to the conflicts of law provisions thereof).

          9.8  Notices. All notices, requests, consents, and other
               -------
communications under this Agreement shall be in writing and shall be deemed
delivered (i) two business days after being sent by registered or certified
mail, return receipt requested, postage prepaid or (ii) one business day after
being sent via a reputable nationwide overnight courier service guaranteeing
next business day delivery, in each case to the intended recipient as set forth
below:

If to the Company:                              With a copy to:

Switchboard Incorporated                        Switchboard Incorporated
115 Flanders Road                               115 Flanders Road
Westboro, Massachusetts  01581                  Westboro, Massachusetts  01581

                                      -13-
<PAGE>

Attention: Chief Executive Officer          Attention: Associate General Counsel
Telephone: (508) 898-1122                   Telephone: (508) 898-1122
Telecopy:  (508) 870-2000                   Telecopy:  (508) 870-2000

If to the Purchaser:                        With a copy to:

America Online, Inc.                        America Online, Inc.
22000 AOL Way                               22000 AOL Way
Dulles, Virginia  20166                     Dulles, Virginia  20166
Attention: President-Business Affairs       Attention: General Counsel
Telephone: (703) 265-2365                   Telephone: (703) 265-1428
Telecopy:  (703) 625-1202                   Telecopy:  (703) 265-2208

     Any Party may give any notice, request, consent or other communication
under this Agreement using any other means (including, without limitation,
personal delivery, messenger service, telecopy, first class mail or electronic
mail), but no such notice, request, consent or other communication shall be
deemed to have been duly given unless and until it is actually received by the
Party for whom it is intended. Any Party may change the address to which
notices, requests, consents or other communications hereunder are to be
delivered by giving the other Party notice in the manner set forth in this
Section 9.8.

          9.9   Complete Agreement. This Agreement (including its Annexes)
                ------------------
constitutes the entire agreement and understanding of the Parties with respect
to the subject matter hereof and supersedes all prior agreements and
understandings relating to such subject matter.

          9.10  Amendments and Waivers. Except as otherwise expressly set forth
                ----------------------
in this Agreement, any term of this Agreement may be amended or terminated and
the observance of any term of this Agreement may be waived with respect to all
Parties to this Agreement (either generally or in a particular instance and
either retroactively or prospectively), with the written consent of the Company
and the Purchaser. No waivers of or exceptions to any term, condition or
provision of this Agreement, in any one or more instances, shall be deemed to
be, or construed as, a further or continuing waiver of any such term, condition
or provision.

          9.11  Pronouns. Whenever the context may require, any pronouns used in
                --------
this Agreement shall include the corresponding masculine, feminine or neuter
forms, and the singular form of nouns and pronouns shall include the plural, and
vice versa.

          9.12  Counterparts; Facsimile Signatures. This Agreement may be
                ----------------------------------
executed in any number of counterparts, each of which shall be deemed to be an
original, and all of which shall constitute one and the same document. This
Agreement may be executed by facsimile signatures.

          9.13  Section Headings. The section headings are for the convenience
                ----------------
of the Parties and in no way alter, modify, amend, limit, or restrict the
contractual obligations of the Parties.

                                      -14-
<PAGE>

          9.14  Confidential Information. Neither Party may issue a press
                ------------------------
release or other disclosure containing Confidential Information (as defined in
the Directory Agreement) without the consent of the other Party, unless, and to
the extent that, such disclosure is required by law, rule, regulation or
government or court order. In such event (with the sole exception of (a) a
Company Form 8-K filing to be made with the Commission in connection with the
announcement of the execution of this Agreement, which Form 8-K filing the
Company has afforded the Purchaser a reasonable period of time to review under
the circumstances and (b) the mutually agreed-upon press release to be issued by
the Parties in connection with such announcement), the disclosing Party will
provide at least five (5) business days prior written notice to the other Party
(unless otherwise required by law or mutually agreed-upon by the Parties) of
such proposed disclosure. Further, in the event such disclosure is required of
either Party under the laws, rules and regulations of the Commission or any
other applicable governing body, such Party will, in the reasonable discretion
of such Party, upon good faith consultation with the other Party, (i) redact
portions of this Agreement to the fullest extent permitted under applicable
laws, rules and regulations and (ii) submit a request to the Commission or such
governing body that such portions of this Agreement receive confidential
treatment under the laws, rules and regulations of the Commission or otherwise
be held in the strictest confidence to the fullest extent permitted under the
laws, rules and regulations of any other applicable governing body.
Notwithstanding anything to the contrary in this Agreement or in the Directory
Agreement, neither Party shall be restricted from disclosing any Confidential
Information to the extent such Party reasonably believes such disclosure is
required pursuant to applicable law or stock market or exchange requirements.

                                 *  *  *  *  *

                                      -15-
<PAGE>

     Executed as of the date first written above.

                              COMPANY:

                              SWITCHBOARD INCORPORATED

                              By: /s/ Dean Polnerow
                                  -----------------------------
                                  Name:  Dean Polnerow
                                  Title: President

                              PURCHASER:

                              AMERICA ONLINE, INC.

                              By: /s/ Lynda Clarizio
                                  -----------------------------
                                  Name:  Lynda Clarizio
                                  Title: Senior Vice President

                                      -16-
<PAGE>

                                                                    Annex 5.1(a)
                                                                    ------------

                               INVESTMENT LETTER

Switchboard Incorporated
115 Flanders Road
Westboro, Massachusetts  01581

Ladies and Gentlemen:

     In order to induce Switchboard Incorporated, a Delaware corporation (the
"Company"), to issue and sell to America Online, Inc., a Delaware corporation
(the "Investor"), 746,260 shares (the "Shares") of Common Stock, $.01 par value
per share, of the Company (the "Common Stock"), the Investor hereby represents,
warrants and covenants as follows:

     (a)  The Investor is accepting the Shares for its own account for
investment only, and not with a view to, or for sale in connection with, any
distribution of the Shares in violation for the Securities Act of 1933, as
amended (the "Securities Act"), or any rule or regulation under the Securities
Act.

     (b)  The Investor has had such opportunity as it has deemed adequate to
obtain from representatives of the Company such information as is necessary to
permit it to evaluate the merits and risks of its investment in the Company.

     (c)  The Investor has sufficient experience in business, financial and
investment matters to be able to evaluate the risks involved in the purchase of
the Shares and to make an informed investment decision with respect to such
purchase.

     (d)  The Investor can afford a complete loss of the value of the Shares and
is able to bear the economic risk of holding the Shares for an indefinite
period.

     (e)  The Investor understands that (i) the Shares have not been registered
under the Securities Act and the Shares are "restricted securities" within the
meaning of Rule 144 under the Securities Act, (ii) the Shares cannot be sold,
transferred or otherwise disposed of unless so sold, transferred or otherwise
disposed of in compliance with the restrictions on transfer set forth in Section
8 of that certain Common Stock and Warrant Purchase Agreement dated as of
December 11, 2000 between the Company and the Purchaser ("Section 8"); (iii) in
any event, the exemption from registration under Rule 144 or otherwise may not
be available for the Shares, may not be available for at least one year and even
then will not be available unless a public market then exists for the Common
Stock, adequate information concerning the Company is then available to the
public, and other terms and conditions of Rule 144 are complied with; and (iv)
other than as specifically provided for in that certain Registration Rights
Agreement dated as of December 11, 2000 between the Company and the Investor,
the Company has no current obligation or current intention to register the
Shares under the Securities Act.

                                  5.1(a) - 1
<PAGE>

     (f)  Legends substantially in the form of those set forth in Section 8 will
be placed on any certificate representing the Shares.

                              Very truly yours,

                              INVESTOR:

                              AMERICA ONLINE, INC.

                              By: _______________________________
                                  Name:
                                  Title:

                              Dated: ____________________________

                                  5.1(a) - 2
<PAGE>

                                                                    Annex 5.1(b)
                                                                    ------------

                               INVESTMENT LETTER

Switchboard Incorporated
115 Flanders Road
Westboro, Massachusetts  01581

Ladies and Gentlemen:

     In order to induce Switchboard Incorporated, a Delaware corporation (the
"Company"), to issue and sell to America Online, Inc., a Delaware corporation
(the "Investor"), 746,260 shares (the "Shares") of Common Stock, $.01 par value
per share, of the Company (the "Common Stock"), the Investor hereby represents,
warrants and covenants as follows:

     (a)  The Investor is accepting the Shares for its own account for
investment only, and not with a view to, or for sale in connection with, any
distribution of the Shares in violation for the Securities Act of 1933, as
amended (the "Securities Act"), or any rule or regulation under the Securities
Act.

     (b)  The Investor has had such opportunity as it has deemed adequate to
obtain from representatives of the Company such information as is necessary to
permit it to evaluate the merits and risks of its investment in the Company.

     (c)  The Investor has sufficient experience in business, financial and
investment matters to be able to evaluate the risks involved in the purchase of
the Shares and to make an informed investment decision with respect to such
purchase.

     (d)  The Investor can afford a complete loss of the value of the Shares and
is able to bear the economic risk of holding the Shares for an indefinite
period.

     (e)  The Investor understands that (i) the Shares have not been registered
under the Securities Act and the Shares are "restricted securities" within the
meaning of Rule 144 under the Securities Act, (ii) the Shares cannot be sold,
transferred or otherwise disposed of unless so sold, transferred or otherwise
disposed of in compliance with the restrictions on transfer set forth in Section
8 of that certain Common Stock and Warrant Purchase Agreement dated as of
December 11, 2000 between the Company and the Purchaser ("Section 8"); (iii) in
any event, the exemption from registration under Rule 144 or otherwise may not
be available for the Shares, may not be available for at least one year and even
then will not be available unless a public market then exists for the Common
Stock, adequate information concerning the Company is then available to the
public, and other terms and conditions of Rule 144 are complied with; and (iv)
other than as specifically provided for in that certain Registration Rights
Agreement dated as of December 11, 2000 between the Company and the Investor,
the Company has no current obligation or current intention to register the
Shares under the Securities Act.

                                  5.1(b) - 1
<PAGE>

     (f)  Legends substantially in the form of those set forth in Section 8 will
be placed on any certificate representing the Shares.

                                   Very truly yours,

                                   INVESTOR:

                                   AMERICA ONLINE, INC.

                                   By: ____________________________
                                       Name:
                                       Title:

                                   Dated: _________________________

                                  5.1(b) - 2
<PAGE>

                                                                    Annex 5.1(c)
                                                                    ------------

                               INVESTMENT LETTER

Switchboard Incorporated
115 Flanders Road
Westboro, Massachusetts  01581

Ladies and Gentlemen:

     In order to induce Switchboard Incorporated, a Delaware corporation (the
"Company"), to issue and sell to America Online, Inc., a Delaware corporation
(the "Investor"), the Common Stock Purchase Warrant No. AOL-1 (the "Warrant")
and any and all of the shares of Common Stock, $.01 par value per share, of the
Company (the "Common Stock") issuable upon any exercise or partial exercise of
the Warrant (the "Shares"), the Investor hereby represents, warrants and
covenants as follows:

     (a)  The Investor is accepting the Warrant and the Shares for its own
account for investment only, and not with a view to, or for sale in connection
with, any distribution of the Warrant and/or Shares in violation for the
Securities Act of 1933, as amended (the "Securities Act"), or any rule or
regulation under the Securities Act.

     (b)  The Investor has had such opportunity as it has deemed adequate to
obtain from representatives of the Company such information as is necessary to
permit it to evaluate the merits and risks of its investment in the Company.

     (c)  The Investor has sufficient experience in business, financial and
investment matters to be able to evaluate the risks involved in the purchase of
the Warrant and/or the Shares and to make an informed investment decision with
respect to such purchase.

     (d)  The Investor can afford a complete loss of the value of the Warrant
and/or the Shares and is able to bear the economic risk of holding the Warrant
and/or the Shares for an indefinite period.

     (e)  The Investor understands that (i) neither the Warrant nor the Shares
have been registered under the Securities Act and both the Warrant and the
Shares are "restricted securities" within the meaning of Rule 144 under the
Securities Act, (ii) neither the Warrant nor the Shares can be sold, transferred
or otherwise disposed of unless so sold, transferred or otherwise disposed of in
compliance with the restrictions on transfer set forth in Section 4 of the
Warrant; (iii) in any event, the exemption from registration under Rule 144 or
otherwise may not be available for the Warrant or the Shares, may not be
available for at least one year and even then will not be available unless a
public market then exists for the Common Stock, adequate information concerning
the Company is then available to the public, and other terms and conditions of
Rule 144 are complied with; and (iv) other than as specifically provided for in
that certain Registration Rights Agreement dated as of December 11, 2000 between
the Company and the
<PAGE>

Investor, the Company has no current obligation or current intention to register
the Warrant or the Shares under the Securities Act.

     (f)  Legends substantially in the form of those set forth in Section 4 of
the Warrant will be placed on any certificate representing the Shares.

                                   Very truly yours,

                                   INVESTOR:

                                   AMERICA ONLINE, INC.

                                   By: ____________________________
                                       Name:
                                       Title:

                                   Dated: _________________________

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