Document:

<FONT FACE="Arial" SIZE=3>
<P>Exhibit Number 10.24</P>
<P>LETTER OF CREDIT BY WELLS FARGO BANK, NATIONAL ASSOCIATION TO BARRA, INC.</P>

<FONT FACE="Arial" SIZE=3><P>
<p><strong><i></FONT><FONT FACE="Arial" SIZE=3></strong></i>
<P>&nbsp;</P>
<P>August 1, 2001</P>

<P>&nbsp;</P>
<P>&nbsp;</P>
<P>Barra, Inc.</P>
<P>2100 Milvia Street</P>
<P>Berkeley, CA  94704</P>

<P>&nbsp;</P>
<P>Dear Sir:</P>

<P>&#9;This letter is to confirm that WELLS FARGO BANK, NATIONAL ASSOCIATION ("Bank"), subject to all terms and conditions contained
herein, has agreed to make available the credit described below to BARRA, INC. ("Borrower"):</P>

<P>&#9;1.&#9;A revolving line of credit under which Bank will make advances to Borrower from time to time up to and including August
1, 2002, not to exceed at any time the maximum principal amount of Forty Twenty Five Million Dollars ($25,000,000.00) ("Line of
Credit"), the proceeds of which shall be used for working capital requirement for general corporate purposes.</P>

<P>I.&#9;CREDIT TERMS:</P>

<P>&#9;1.&#9;LINE OF CREDIT:</P>

<P>&#9;(a)&#9;<U>Line of Credit Note</U>.  Borrower's obligation to repay advances under the Line of Credit shall be evidenced by a
promissory note substantially in the form of Exhibit&nbsp;A attached hereto ("Line of Credit Note"), all terms of which are
incorporated herein by this reference.</P>

<P>&#9;(b)&#9;<U>Borrowing and Repayment</U>.  Borrower may from time to time during the term of the Line of Credit borrow, partially
or wholly repay its outstanding borrowings, and reborrow, subject to all of the limitations, terms and conditions contained herein or
in the Line of Credit Note; provided however, that the total outstanding borrowings under the Line of Credit shall not at any time
exceed the maximum principal amount available thereunder, as set forth above.  Notwithstanding the foregoing, Borrower shall maintain
a zero balance on advances under the Line of Credit for a period of at least thirty consecutive days during each fiscal year</P>
<P>&#9;</P>
<P>&#9;2.&#9;COLLATERAL:</P>

<P>&#9;As security for all indebtedness of Borrower to Bank subject hereto, Borrower hereby grants to Bank security interests of
first priority in all Borrower's Wells Capital Management Account #143978.</P>

<P> All of the foregoing shall be evidenced by and subject to the terms of such security agreements, financing statements, deeds of
trust and other documents as Bank shall reasonably require, all in form and substance satisfactory to Bank.  Borrower shall reimburse
Bank immediately upon demand for all costs and expenses incurred by Bank in connection with any of the foregoing security, including
without limitation, filing and recording fees and costs of appraisals, audits and title insurance.</P>

<P>&#9;</P>
<P>II.&#9;INTEREST/FEES:</P>

<P>&#9;1.&#9;<U>Interest</U>.  The outstanding principal balance of the Line of Credit shall bear interest</P>
<P>at the rate of interest set forth in the Line of Credit Note.</P>

<P>&#9;2.&#9;<U>Computation and Payment</U>.  Interest shall be computed on the basis of a 360-day year, actual days elapsed.
Interest shall be payable at the times and place set forth in each promissory note or other instrument required hereby.</P>

<P>&#9;3.&#9;<U>Collection of Payments</U>.  Borrower authorizes Bank to collect all interest due under each credit subject hereto by
charging Borrower's deposit account number _______________ with Bank, or any other deposit account maintained by Borrower with Bank,
for the full amount thereof.  Should there be insufficient funds in any such deposit account to pay all such sums when due, the full
amount of such deficiency shall be immediately due and payable by Borrower.</P>

<P>III.&#9;REPRESENTATIONS AND WARRANTIES:</P>

<P>&#9;Borrower makes the following representations and warranties to Bank, which representations and warranties shall survive the
execution of this letter and shall continue in full force and effect until the full and final payment, and satisfaction and
discharge, of all obligations of Borrower to Bank subject to this letter.</P>

<P>&#9;1.&#9;<U>Legal Status</U>.  Borrower is a corporation, duly organized and existing and in good standing under the laws of the
State of CaliforniaMaryland, and is qualified or licensed to do business in all jurisdictions in which such qualification or
licensing is required or in which the failure to so qualify or to be so licensed could have a material adverse effect on
Borrower.</P>

<P>&#9;2.&#9;<U>Authorization and Validity</U>.  This letter and each promissory note, contract, instrument and other document deemed
necessary by Bank to evidence any extension of credit to Borrower pursuant to the terms and conditions hereof, or now or at any time
hereafter required by or delivered to Bank in connection with this letter (collectively, the "Loan Documents") have been duly
authorized, and upon their execution and delivery in accordance with the provisions hereof will constitute legal, valid and binding
agreements and obligations of Borrower or the party which executes the same, enforceable in accordance with their respective
terms.</P>

<P>&#9;3.&#9;<U>No Violation</U>.  The execution, delivery and performance by Borrower of each of the Loan Documents do not violate
any provision of any law or regulation, or contravene any provision of the Articles of Incorporation or By-Laws of Borrower, or
result in a breach of or constitute a default under any contract, obligation, indenture or other instrument to which Borrower is a
party or by which Borrower may be bound.</P>

<P>&#9;4.&#9;<U>Litigation</U>.  There are no pending, or to the best of Borrower's knowledge threatened, actions, claims,
investigations, suits or proceedings by or before any governmental authority, arbitrator, court or administrative agency which could
have a material adverse effect on the financial condition or operation of Borrower other than those disclosed by Borrower to Bank in
writing prior to the date hereof.</P>

<P>&#9;5.&#9;<U>Correctness of Financial Statement</U>.  The financial statement of Borrower dated March 31, 2001_______________, , a
true copy of which has been delivered by Borrower to Bank prior to the date hereof, (a)&nbsp;is complete and correct and presents
fairly the financial condition of Borrower, (b)&nbsp;discloses all liabilities of Borrower that are required to be reflected or
reserved against under generally accepted accounting principles, whether liquidated or unliquidated, fixed or contingent, and
(c)&nbsp;has been prepared in accordance with generally accepted accounting principles consistently applied.  Since the date of such
financial statement there has been no material adverse change in the condition or operation of Borrower, nor has Borrower mortgaged,
pledged, granted a security interest in or otherwise encumbered any of its assets or properties except in favor of Bank or as
otherwise permitted by Bank in writing. </P>

<P>&#9;6.&#9;<U>Income Tax Returns</U>.  Borrower has no knowledge of any pending assessments or adjustments of its income tax
payable with respect to any year.</P>

<P>&#9;7.&#9;<U>No Subordination</U>.  There is no agreement, indenture, contract or instrument to which Borrower is a party or by
which Borrower may be bound that requires the subordination in right of payment of any of Borrower's obligations subject to this
letter to any other obligation of Borrower.</P>

<P>&#9;8.&#9;<U>Permits, Franchises</U>.  Borrower possesses, and will hereafter possess, all permits, consents, approvals,
franchises and licenses required and all rights to trademarks, trade names, patents and fictitious names, if any, necessary to enable
it to conduct the business in which it is now engaged in compliance with applicable law. </P>

<P>&#9;9.&#9;<U>ERISA</U>.  Borrower is in compliance in all material respects with all applicable provisions of the Employee
Retirement Income Security Act of 1974, as amended or recodified from time to time ("ERISA"); Borrower has not violated any provision
of any defined employee pension benefit plan (as defined in ERISA) maintained or contributed to by Borrower (each, a "Plan"); no
Reportable Event, as defined in ERISA, has occurred and is continuing with respect to any Plan initiated by Borrower; Borrower has
met its minimum funding requirements under ERISA with respect to each Plan; and each Plan will be able to fulfill its benefit
obligations as they come due in accordance with the Plan documents and under generally accepted accounting principles.</P>

<P>&#9;10.&#9;<U>Other Obligations</U>.  Borrower is not in default on any obligation for borrowed money, any purchase money
obligation or any other material lease, commitment, contract, instrument or obligation.</P>

<P>&#9;11.&#9;<U>Environmental Matters</U>.  Except as disclosed by Borrower to Bank in writing prior to the date hereof, Borrower is
in compliance in all material respects with all applicable federal or state environmental, hazardous waste, health and safety
statutes, and any rules or regulations adopted pursuant thereto, which govern or affect any of Borrower's operations and/or
properties, including without limitation, the Comprehensive Environmental Response, Compensation and Liability Act of 1980, the
Superfund Amendments and Reauthorization Act of 1986, the Federal Resource Conservation and Recovery Act of 1976, and the Federal
Toxic Substances Control Act, as any of the same may be amended, modified or supplemented from time to time.  None of the operations
of Borrower is the subject of any federal or state investigation evaluating whether any remedial action involving a material
expenditure is needed to respond to a release of any toxic or hazardous waste or substance into the environment.  Borrower has no
material contingent liability in connection with any release of any toxic or hazardous waste or substance into the environment.</P>
<P>&#9;</P>
<P>IV.&#9;CONDITIONS:</P>

<P>&#9;1.&#9;<U>Conditions of Initial Extension of Credit</U>.  The obligation of Bank to extend any credit contemplated by this
letter is subject to fulfillment to Bank's satisfaction of all of the following conditions:</P>

<P>&#9;(a)&#9;<U>Documentation</U>.  Bank shall have received each of the Loan Documents, duly executed and in form and substance
satisfactory to Bank.</P>

<P>&#9;(b)&#9;<U>Financial Condition</U>.  There shall have been no material adverse change, as determined by Bank, in the financial
condition or business of Borrower, nor any material decline, as determined by Bank, in the market value of any collateral required
hereunder or a substantial or material portion of the assets of Borrower.</P>

<P>&#9;(c)&#9;<U>Insurance</U>.  Borrower shall have delivered to Bank evidence of insurance coverage on all Borrower's property, in
form, substance, amounts, covering risks and issued by companies satisfactory to Bank, and where required by Bank, with loss payable
endorsements in favor of Bank.</P>

<P>&#9;2.&#9;<U>Conditions of Each Extension of Credit</U>.  The obligation of Bank to make each extension of credit requested by
Borrower hereunder shall be subject to the fulfillment to Bank's satisfaction of each of the following conditions:</P>

<P>&#9;(a)&#9;<U>Compliance</U>.  The representations and warranties contained herein and in each of the other Loan Documents shall
be true on and as of the date of the signing of this letter and on the date of each extension of credit by Bank pursuant hereto, with
the same effect as though such representations and warranties had been made on and as of each such date, and on each such date, no
default hereunder, and no condition, event or act which with the giving of notice or the passage of time or both would constitute
such a default, shall have occurred and be continuing or shall exist.</P>

<P>&#9;(b)&#9;<U>Documentation</U>.  Bank shall have received all additional documents which may be reasonably required in connection
with such extension of credit.</P>

<P>V.&#9;COVENANTS:</P>

<P>&#9;Borrower covenants that so long as Bank remains committed to extend credit to Borrower pursuant hereto, or any liabilities
(whether direct or contingent, liquidated or unliquidated) of Borrower to Bank under any of the Loan Documents remain outstanding,
and until payment in full of all obligations of Borrower subject hereto, Borrower shall, unless Bank otherwise consents in
writing:</P>

<P>&#9;1.&#9;<U>Punctual Payment</U>.  Punctually pay all principal, interest, fees or other liabilities due under any of the Loan
Documents at the times and place and in the manner specified therein.</P>

<P>&#9;2.&#9;<U>Accounting Records</U>.  Maintain adequate books and records in accordance with generally accepted accounting
principles consistently applied, and permit any representative of Bank, at any reasonable time (and, so long as no default exists,
upon reasonable notice), to inspect, audit and examine such books and records, to make copies of the same and inspect the properties
of Borrower.</P>

<P>&#9;3.&#9;<U>Financial Statements</U>.  Provide to Bank all of the following, in form and detail satisfactory to Bank:</P>

<P>&#9;(a)&#9;not later than 120 days after and as of the end of each fiscal year, an audited financial statement of Borrower,
prepared by a certified public accountant acceptable to Bank, to include balance sheet, income statement, statement of cash flows and
all footnotes;</P>

<P>&#9;(b)&#9;not later than 60 days after and as of the end of each fiscal quarter, 10Q report, prepared by Borrower, to include
balance sheet, income statement, statement of cash flows and all footnotes;</P>

<P>&#9;(c)&#9;not later than 15 days after and as of the end of each month, copies of Wells Capital Management account statement;</P>

<P>&#9;(d)&#9;from time to time such other information as Bank may reasonably request.</P>

<P>&#9;4.&#9;<U>Compliance</U>.  Preserve and maintain all licenses, permits, governmental approvals, rights, privileges and
franchises necessary for the conduct of its business; and comply with the provisions of all documents pursuant to which Borrower is
organized and/or which govern Borrower's continued existence and with the requirements of all laws, rules, regulations and orders of
a governmental agency applicable to Borrower and/or its business.</P>

<P>&#9;5.&#9;<U>Insurance</U>.  Maintain and keep in force insurance of the types and in amounts customarily carried in lines of
business similar to that of Borrower, including but not limited to fire, extended coverage, public liability, flood, property damage
and workers' compensation, with all such insurance carried with companies and in amounts satisfactory to Bank, and deliver to Bank
from time to time at Bank's request schedules setting forth all insurance then in effect.</P>

<P>&#9;6.&#9;<U>Facilities</U>.  Keep all properties useful or necessary to Borrower's business in good repair and condition, and
from time to time make necessary repairs, renewals and replace ments thereto so that such properties shall be fully and efficiently
preserved and maintained.</P>

<P>&#9;7.&#9;<U>Taxes and Other Liabilities</U>.  Pay and discharge when due any and all indebtedness, obligations, assessments and
taxes, both real or personal, including without limitation federal and state income taxes and state and local property taxes and
assessments, except (a) such as Borrower may in good faith contest or as to which a bona fide dispute may arise, and (b) for which
Borrower has made provision, to Bank's satisfaction, for eventual payment thereof in the event Borrower is obligated to make such
payment.</P>

<P>&#9;8.&#9;<U>Litigation</U>.  Promptly give notice in writing to Bank of any litigation pending or threatened against
Borrower.</P>
<P>&#9;</P>
<P>9.&#9;<U>Financial Condition</U>.  Maintain Borrower's financial condition as follows using generally accepted accounting
principles consistently applied and used consistently with prior practices (except to the extent modified by the definitions
herein):</P>

<P>&#9;(a)&#9;Tangible Net Worth not at any time less than $120,000,000.00, with "Tangible Net Worth" defined as the aggregate of
total stockholders' equity plus subordinated debt less any intangible assets.</P>

<P>&#9;(b)&#9;Total Liabilities divided by Tangible Net Worth not at any time greater than 1.0 to 1.0, with "Total Liabilities"
defined as the aggregate of current liabilities and non-current liabilities less subordinated debt, and with "Tangible Net Worth" as
defined above.</P>

<P>&#9;(c)&#9;Quick Ratio not at any time less than 1.0 to 1.0, with "Quick Ratio" defined as the aggregate of unrestricted cash,
unrestricted marketable securities and receivables convertible into cash divided by total current liabilities.</P>

<P>&#9;(d)&#9;Net income after taxes in each fiscal quarter not less than $5,000,000.00, determined as of each fiscal quarter
end.</P>

<P>(e)&#9;Liquid Assets (as defined as unencumbered and unrestricted cash, cash equivalents and marketable securities acceptable to
Bank in Section 2 of the Addendum to Security Agreement: Securities Account) held in Borrower's Wells Capital Management Account
#143978), in an aggregate amounts in excessnot less than  of  $50,000,000.00, determined as of the end of each month.</P>

<P>&#9;10.&#9;<U>Other Indebtedness</U>.  Not create, incur, assume or permit to exist any indebtedness or liabilities resulting from
borrowings, loans or advances, whether secured or unsecured, matured or unmatured, liquidated or unliquidated, joint or several,
except (a) the liabilities of Borrower to Bank, and (b)&nbsp;any other liabilities of Borrower existing as of, and disclosed to Bank
prior to, the date hereof, and (c) purchase money indebtedness subject to the terms of Section 15 below..</P>

<P>&#9;11.&#9;<U>Merger, Consolidation, Transfer of Assets</U>.  Not merge into or consolidate with any other entity; nor make any
substantial change in the nature of Borrower's business as conducted as of the date hereof; nor acquire all or substantially all of
the assets of any other entity; nor sell, lease, transfer or otherwise dispose of all or a substantial or material portion of
Borrower's assets except in the ordinary course of its business; provided however, that Borrower may merge, consolidate, acquire all
or substantially all of the assets of any other entity, sell or dispose of all or portion of assets, so long as such mergingmerger,
consolidation, acquisition or disposition does not cause or result in a n event of default under any other provision of this
Agreement or the other Loan Documents and Borrower, in all instances, is the surviving entity.</P>

<P>&#9;12.&#9;<U>Guaranties</U>.  Not guarantee or become liable in any way as surety, endorser (other than as endorser of negotiable
instruments for deposit or collection in the ordinary course of business), accommodation endorser or otherwise for, nor pledge or
hypothecate any assets of Borrower as security for, any liabilities or obligations of any other person or entity, except any of the
foregoing in favor of Bank.</P>

<P>&#9;13.&#9;<U>Loans, Advances, Investments</U>.  Not make any loans or advances to or investments in any person or entity, except
any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof; provided however, that Borrower may make loans,
advances or investments, so long as such loans, advances or investments do not cause or result in an event of default under any other
provision of this Agreement or the other Loan Documents and Borrower is the surviving entity. </P>

<P>&#9;14.&#9;<U>Dividends, Distributions</U>.  Not declare or pay any dividend or distribution either in cash, stock or any other
property on Borrower's stock now or hereafter outstanding, nor redeem, retire, repurchase or otherwise acquire any shares of any
class of Borrower's stock now or hereafter outstanding; provided however, that Borrower may declare or pay any such dividends, or
acquire any such shares of stock, so long as such payment or acquisition does not cause or result in a n event of default under any
other provision of this Agreement or the other Loan Documents and Borrower is the surviving entity.</P>
<U>
</U><P>&#9;15.&#9;<U>Pledge of Assets</U>.  Not mortgage, pledge, grant or permit to exist a security interest in, or lien
(collectively, "Lien") upon, all or any portion of Borrower's assets now owned or hereafter acquired, except:</P>
<P>&#9;(a)  any Lien created under any Loan Document;</P><DIR>
<DIR>

<P>&#9;(b)  Liens for taxes, fees, assessments or other governmental charges which are not delinquent or remain payable without
penalty; <U>provided</U>, that no notice of lien has been filed or recorded;</P>
<P>&#9;(c)&#9;suppliers', carriers', warehousemen's, mechanics', landlords', materialmen's, repairmen's or other similar Liens
arising in the ordinary course of business which are not delinquent for a period of more than thirty days or which are being
contested in good faith and by appropriate proceedings, which proceedings have the effect of preventing the forfeiture or sale of the
property subject thereto;</P>
<P>&#9;(d)&#9;Liens (other than any Lien imposed by ERISA) consisting of pledges or deposits required in the ordinary course of
business in connection with workers' compensation, unemployment insurance and other social security legislation;</P>
<P>&#9;(e)&#9;Liens on the property of Borrower securing (i)&nbsp;the non-delinquent performance of bids, trade contracts (other than
for borrowed money), leases, statutory obligations, (ii)&nbsp;contingent obligations on surety and appeal bonds, and (iii)&nbsp;other
non-delinquent obligations of a like nature; in each case, incurred in the ordinary course of business;</P>
<P>&#9;(f)&#9;leases, subleases, easements, rights-of-way, encroachments and other survey defects, restrictions and other similar
encumbrances incurred in the ordinary course of business which do not impose material financial obligations on Borrower, and which do
not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct
of the business of Borrower;</P>
<P>&#9;(g)&#9;purchase money security interests on any property acquired or held by Borrower securing indebtedness incurred or
assumed for the purpose of financing all or any part of the cost of acquiring such property; <U>provided</U>, that (i)&nbsp;any such
Lien attaches to such property concurrently with or within 20 days after the acquisition thereof, (ii)&nbsp;such Lien attaches solely
to the property so acquired in such transaction, (iii)&nbsp;the principal amount of the debt secured thereby does not exceed the cost
of such property;</P>
<P>&#9;(h)&#9;Liens securing obligations in respect of capital leases on assets subject to such leases; <U>provided</U>, that such
capital leases are otherwise permitted hereunder;</P>
<P>&#9;(i)&#9;Liens arising solely by virtue of any statutory or common law provision relating to banker's liens, rights of set-off
or similar rights and remedies as to deposit accounts or other funds maintained with a creditor depository institution;
<U>provided</U>, that (i)&nbsp;such deposit account is not a dedicated cash collateral account and is not subject to restrictions
against access by the Borrower in excess of those set forth by regulations promulgated by the Federal Reserve Board, and
(ii)&nbsp;such deposit account is not intended by the Borrower to provide collateral to the depository institution;</P>
<P>&#9;(j)&#9;Liens assumed in connection with a business acquisition or investment permitted by this Agreement; <U>provided</U>,
that, such Lien was created prior to such acquisition or investment (and not in contemplation of such acquisition) and such Lien is
terminated within 30 days after such acquisition (unless permitted under another paragraph of this Section 14); and</P>
<P>(k)&#9;any Lien existing on property of Borrower as of the date hereof and set forth on <U>Schedule&nbsp;I hereto</U>;
<U>provided</U>, that no such Lien is amended to cover additional property and no such Lien is amended to cover additional
Indebtedness.</P>
</DIR>
</DIR>

<P>VI.&#9;DEFAULT, REMEDIES:</P>

<P>&#9;1.&#9;<U>Default, Remedies</U>.  Upon the violation of any term or condition of any of the Loan Documents, or upon the
occurrence of any default or defined event of default under any of the Loan Documents: (a)&nbsp;all indebtedness of Borrower under
each of the Loan Documents, any term thereof to the contrary notwithstanding, shall at Bank's option and without upon prior written
notice (but with no notice if the default consists of Borrower becoming subject to a proceeding under any federal or state bankruptcy
or insolvency proceeding) become immediately due and payable without presentment, demand, protest or notice of dishonor, all of which
are expressly waived by Borrower; (b)&nbsp;the obligation, if any, of Bank to extend any further credit under any of the Loan
Documents shall immediately cease and terminate; and (c)&nbsp;Bank shall have all rights, powers and remedies available under each of
the Loan Documents, or accorded by law, including without limitation the right to resort to any or all security for any credit
subject hereto and to exercise any or all of the rights of a beneficiary or secured party pursuant to applicable law.  All rights,
powers and remedies of Bank may be exercised at any time by Bank and from time to time after the occurrence of any such breach or
default, are cumulative and not exclusive, and shall be in addition to any other rights, powers or remedies provided by law or
equity.</P>

<P>&#9;2.&#9;<U>No Waiver</U>.  No delay, failure or discontinuance of Bank in exercising any right, power or remedy under any of the
Loan Documents shall affect or operate as a waiver of such right, power or remedy; nor shall any single or partial exercise of any
such right, power or remedy preclude, waive or otherwise affect any other or further exercise thereof or the exercise of any other
right, power or remedy.  Any waiver, permit, consent or approval of any kind by Bank of any breach of or default under any of the
Loan Documents must be in writing and shall be effective only to the extent set forth in such writing.</P>

<P>VII.&#9;MISCELLANEOUS:</P>

<P>&#9;1.&#9;<U>Notices</U>.  All notices, requests and demands which any party is required or may desire to give to any other party
under any provision of this letter must be in writing delivered to each party at its address first set forth above, or to such other
address as any party may designate by written notice to all other parties.  Each such notice, request and demand shall be deemed
given or made as follows:  (a)&nbsp;if sent by hand delivery, upon delivery; (b)&nbsp;if sent by mail, upon the earlier of the date
of receipt or three (3) days after deposit in the U.S. mail, first class and postage prepaid; and (c) if sent by telecopy, upon
receipt.</P>

<P>&#9;2.&#9;<U>Costs, Expenses and Attorneys' Fees</U>.  Borrower shall pay to Bank immediately upon demand the full amount of all
payments, advances, charges, costs and expenses, including reasonable attorneys' fees (to include outside counsel fees and all
allocated costs of Bank's in-house counsel), expended or incurred by Bank in connection with (a)&nbsp;the negotiation and preparation
of this letter and the other Loan Documents, Bank's continued administration hereof and thereof, and the preparation of amendments
and waivers hereto and thereto, (b)&nbsp;the enforcement of Bank's rights and/or the collection of any amounts which become due to
Bank under any of the Loan Documents, and (c)&nbsp;the prosecution or defense of any action in any way related to any of the Loan
Documents, including without limitation, any action for declaratory relief, whether incurred at the trial or appellate level, in an
arbitration proceeding or otherwise, and including any of the foregoing incurred in connection with any bankruptcy proceeding
(including without limitation, any adversary proceeding, contested matter or motion brought by Bank or any other person) relating to
any Borrower or any other person or entity.</P>

<P>&#9;3.&#9;<U>Successors, Assignment</U>.  This letter shall be binding upon and inure to the benefit of the heirs, executors,
administrators, legal representatives, successors and assigns of the parties; provided however, that Borrower may not assign or
transfer its interest hereunder without Bank's prior written consent.  Bank reserves the right to sell, assign, transfer, negotiate
or grant participations in all or any part of, or any interest in, Bank's rights and benefits under each of the Loan Documents.  In
connection therewith Bank may disclose all documents and information which Bank now has or hereafter may acquire relating to any
credit subject hereto, Borrower or its business, or any collateral required hereunder.</P>

<P>&#9;4.&#9;<U>Entire Agreement; Amendment</U>.  This letter and the other Loan Documents constitute the entire agreement between
Borrower and Bank with respect to each credit subject hereto and supersede all prior negotiations, communications, discussions and
correspondence concerning the subject matter hereof.  This letter may be amended or modified only in writing signed by each party
hereto.</P>

<P>&#9;5.&#9;<U>No Third Party Beneficiaries</U>.  This letter is made and entered into for the sole protection and benefit of the
parties hereto and their respective permitted successors and assigns, and no other person or entity shall be a third party
beneficiary of, or have any direct or indirect cause of action or claim in connection with, this letter or any other of the Loan
Documents to which it is not a party.</P>

<P>&#9;6.&#9;<U>Severability of Provisions</U>.  If any provision of this letter shall be prohibited by or invalid under applicable
law, such provision shall be ineffective only to the extent of such prohibition or invalidity without invalidating the remainder of
such provision or any remaining provisions of this letter.</P>

<P>&#9;7.&#9;<U>Governing Law</U>.  This letter shall be governed by and construed in accordance with the laws of the State of
California.</P>

<P>&#9;8.&#9;<U>Arbitration</U>.</P>

<P>&#9;(a)&#9;<U>Arbitration</U>.  The parties hereto agree, upon demand by any party, to submit to binding arbitration all claims,
disputes and controversies between or among them (and their respective employees, officers, directors, attorneys, and other agents),
whether in tort, contract or otherwise arising out of or relating to in any way (i) the loan and related Loan Documents which are the
subject of this Agreement and its negotiation, execution, collateralization, administration, repayment, modification, extension,
substitution, formation, inducement, enforcement, default or termination; or (ii) requests for additional credit.</P>

<P>(b)&#9;<U>Governing Rules</U>.  Any arbitration proceeding will (i) proceed in a location in California selected by the American
Arbitration Association (&quot;AAA&quot;); (ii) be governed by the Federal Arbitration Act (Title 9 of the United States Code),
notwithstanding any conflicting choice of law provision in any of the documents between the parties; and (iii) be conducted by the
AAA, or such other administrator as the parties shall mutually agree upon, in accordance with the AAA's commercial dispute resolution
procedures, unless the claim or counterclaim is at least $1,000,000.00 exclusive of claimed interest, arbitration fees and costs in
which case the arbitration shall be conducted in accordance with the AAA's optional procedures for large, complex commercial disputes
(the commercial dispute resolution procedures or the optional procedures for large, complex commercial disputes to be referred to, as
applicable, as the &quot;Rules&quot;).  If there is any inconsistency between the terms hereof and the Rules, the terms and
procedures set forth herein shall control.  Any party who fails or refuses to submit to arbitration following a demand by any other
party shall bear all costs and expenses incurred by such other party in compelling arbitration of any dispute.  Nothing contained
herein shall be deemed to be a waiver by any party that is a bank of the protections afforded to it under 12 U.S.C.  91 or any
similar applicable state law.</P>

<P>&#9;(c)&#9;<U>No Waiver of Provisional Remedies, Self-Help and Foreclosure</U>.  The arbitration requirement does not limit the
right of any party to (i) foreclose against real or personal property collateral; (ii) exercise self-help remedies relating to
collateral or proceeds of collateral such as setoff or repossession; or (iii) obtain provisional or ancillary remedies such as
replevin, injunctive relief, attachment or the appointment of a receiver, before during or after the pendency of any arbitration
proceeding.  This exclusion does not constitute a waiver of the right or obligation of any party to submit any dispute to arbitration
or reference hereunder, including those arising from the exercise of the actions detailed in sections (i), (ii) and (iii) of this
paragraph.</P>

<P>&#9;(d)&#9;<U>Arbitrator Qualifications and Powers</U>.  Any arbitration proceeding in which the amount in controversy is
$5,000,000.00 or less will be decided by a single arbitrator selected according to the Rules, and who shall not render an award of
greater than $5,000,000.00.  Any dispute in which the amount in controversy exceeds $5,000,000.00 shall be decided by majority vote
of a panel of three arbitrators; provided however, that all three arbitrators must actively participate in all hearings and
deliberations.  The arbitrator will be a neutral attorney licensed in the State of California or a neutral retired judge of the state
or federal judiciary of California, in either case with a minimum of ten years experience in the substantive law applicable to the
subject matter of the dispute to be arbitrated.  The arbitrator will determine whether or not an issue is arbitratable and will give
effect to the statutes of limitation in determining any claim.  In any arbitration proceeding the arbitrator will decide (by
documents only or with a hearing at the arbitrator's discretion) any pre-hearing motions which are similar to motions to dismiss for
failure to state a claim or motions for summary adjudication.  The arbitrator shall resolve all disputes in accordance with the
substantive law of California and may grant any remedy or relief that a court of such state could order or grant within the scope
hereof and such ancillary relief as is necessary to make effective any award.  The arbitrator shall also have the power to award
recovery of all costs and fees, to impose sanctions and to take such other action as the arbitrator deems necessary to the same
extent a judge could pursuant to the Federal Rules of Civil Procedure, the California Rules of Civil Procedure or other applicable
law.  Judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction.  The institution and
maintenance of an action for judicial relief or pursuit of a provisional or ancillary remedy shall not constitute a waiver of the
right of any party, including the plaintiff, to submit the controversy or claim to arbitration if any other party contests such
action for judicial relief.</P>

<P>&#9;(e)&#9;<U>Discovery</U>.  In any arbitration proceeding discovery will be permitted in accordance with the Rules.  All
discovery shall be expressly limited to matters directly relevant to the dispute being arbitrated and must be completed no later than
20 days before the hearing date and within 180 days of the filing of the dispute with the AAA.  Any requests for an extension of the
discovery periods, or any discovery disputes, will be subject to final determination by the arbitrator upon a showing that the
request for discovery is essential for the party's presentation and that no alternative means for obtaining information is
available.</P>

<P>&#9;(f)&#9;<U>Class Proceedings and Consolidations</U>.  The resolution of any dispute arising pursuant to the terms of this
Agreement shall be determined by a separate arbitration proceeding and such dispute shall not be consolidated with other disputes or
included in any class proceeding.</P>

<P>&#9;(g)&#9;<U>Payment Of Arbitration Costs And Fees</U><B>.</B>  The arbitrator shall award all costs and expenses of the
arbitration proceeding.</P>

<P>&#9;(h)&#9;<U>Real Property Collateral; Judicial Reference</U>.  Notwithstanding anything herein to the contrary, no dispute shall
be submitted to arbitration if the dispute concerns indebtedness secured directly or indirectly, in whole or in part, by any real
property unless (i) the holder of the mortgage, lien or security interest specifically elects in writing to proceed with the
arbitration, or (ii) all parties to the arbitration waive any rights or benefits that might accrue to them by virtue of the single
action rule statute of California, thereby agreeing that all indebtedness and obligations of the parties, and all mortgages, liens
and security interests securing such indebtedness and obligations, shall remain fully valid and enforceable.  If any such dispute is
not submitted to arbitration, the dispute shall be referred to a referee in accordance with California Code of Civil Procedure
Section 638 et seq., and this general reference agreement is intended to be specifically enforceable in accordance with said Section
638.  A referee with the qualifications required herein for arbitrators shall be selected pursuant to the AAA's selection procedures.
Judgment upon the decision rendered by a referee shall be entered in the court in which such proceeding was commenced in accordance
with California Code of Civil Procedure Sections 644 and 645.</P>

<P>(i)&#9;<U>Miscellaneous</U>.  To the maximum extent practicable, the AAA, the arbitrators and the parties shall take all action
required to conclude any arbitration proceeding within 180 days of the filing of the dispute with the AAA.  No arbitrator or other
party to an arbitration proceeding may disclose the existence, content or results thereof, except for disclosures of information by a
party required in the ordinary course of its business or by applicable law or regulation.  If more than one agreement for arbitration
by or between the parties potentially applies to a dispute, the arbitration provision most directly related to the Loan Documents or
the subject matter of the dispute shall control.  This arbitration provision shall survive termination, amendment or expiration of
any of the Loan Documents or any relationship between the parties.</P>

<P>&#9;Your acknowledgment of this letter shall constitute acceptance of the foregoing terms and conditions.  Bank's commitment to
extend any credit to Borrower pursuant to the terms of this letter shall terminate on August 31, 2001, unless this letter is
acknowledged by Borrower and returned to Bank on or before that date.</P>

<P>&#9;Sincerely,</P>

<P>&#9;WELLS FARGO BANK,</P>
<P>&#9;  NATIONAL ASSOCIATION</P>

<P>&#9;By: __________________________</P>
<P>&#9;        Kenneth Lloyd</P>
<P>&#9;        Vice President</P>

<P>&nbsp;</P>
<P>Acknowledged and accepted as of _______________:</P>

<P>BARRA, INC.</P>

<P>By:_____________________________</P>

<P>Title: ___________________________</P>

<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
</FONT><B><U><FONT FACE="Courier New"><P ALIGN="CENTER">SCHEDULE NO. 1 TO LETTER AGREEMENT DATED AUGUST 1, 2001</P>
</U><DIR>
<DIR>

</B></FONT><FONT FACE="Arial" SIZE=3><P>The following Lien on the property of Borrower as of the date hereof is set forth on this
Schedule No. 1 to Letter Agreement dated August 1, 2001</P>
</DIR>
</DIR>

<P>Debtor: &#9;&#9;Barra, Inc.</P>

<P>Secured Party:&#9;Pacific Bell Financial Services, Inc. </P><DIR>
<DIR>
<DIR>
<DIR>

<P>4333 Edgewood Rd NE</P>
<P>Cedar Rapids IA  52499</P>
</DIR>
</DIR>
</DIR>
</DIR>

<P>Filing Date: &#9;08/25/97</P>

<P>Filing Time: &#9;8.00 AM</P>

<P>Expiration Date: &#9;08/26/2002</P>

<P>Filing Number:  &#9;9723960324</P>

<P>Status: &#9;&#9;Active</P>

<P>Type: &#9;&#9;Financing statement</P>

<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P ALIGN="CENTER">REVOLVING LINE OF CREDIT NOTE</P>

<P>&nbsp;</P>
<P>$25,000,000.00&#9;Oakland, California</P>
<P ALIGN="RIGHT">August 1, 2001</P>

<P>&#9;FOR VALUE RECEIVED, the undersigned BARRA, INC. ("Borrower") promises to pay to the order of WELLS FARGO BANK, NATIONAL
ASSOCIATION ("Bank") at its office at East Bay RCBO, One Kaiser Plaza, Suite 850, Oakland, California, or at such other place as the
holder hereof may designate, in lawful money of the United States of America and in immediately available funds, the principal sum of
Forty Twenty Five Million Dollars ($4025,000,000.00), or so much thereof as may be advanced and be outstanding, with interest
thereon, to be computed on each advance from the date of its disbursement as set forth herein.</P>

<P>DEFINITIONS:</P>

<P>&#9;As used herein, the following terms shall have the meanings set forth after each, and any other term defined in this Note
shall have the meaning set forth at the place defined:</P>

<P>&#9;(a)&#9;"Business Day" means any day except a Saturday, Sunday or any other day on which commercial banks in California are
authorized or required by law to close.</P>

<P>&#9;(b)&#9;"Fixed Rate Term" means a period commencing on a Business Day and continuing for one (1), two (2) or three (3) months,
as designated by Borrower, during which all or a portion of the outstanding principal balance of this Note bears interest determined
in relation to LIBOR; provided however, that no Fixed Rate Term may be selected for a principal amount less than One Hundred Thousand
Dollars ($100,000.00); and provided further, that no Fixed Rate Term shall extend beyond the scheduled maturity date hereof.  If any
Fixed Rate Term would end on a day which is not a Business Day, then such Fixed Rate Term shall be extended to the next succeeding
Business Day.</P>

<P>&#9;(c)&#9;"LIBOR" means the rate per annum (rounded upward, if necessary, to the nearest whole 1/8 of 1%) and determined pursuant
to the following formula:</P>
</FONT>
<TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=638>
<TR><TD WIDTH="30%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=3><P ALIGN="RIGHT">LIBOR =</FONT></TD>
<TD WIDTH="40%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=3><P ALIGN="CENTER">Base LIBOR</FONT></TD>
<TD WIDTH="29%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="30%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="40%" VALIGN="TOP">
<FONT FACE="Arial" SIZE=3><P ALIGN="CENTER">100% - LIBOR Reserve Percentage</FONT></TD>
<TD WIDTH="29%" VALIGN="TOP">&nbsp;</TD>
</TR>
</TABLE>

<FONT FACE="Arial" SIZE=3>
<P>&#9;(i)&#9;"Base LIBOR" means the rate per annum for United States dollar deposits quoted by Bank as the Inter-Bank Market Offered
Rate, with the understanding that such rate is quoted by Bank for the purpose of calculating effective rates of interest for loans
making reference thereto, on the first day of a Fixed Rate Term for delivery of funds on said date for a period of time approximately
equal to the number of days in such Fixed Rate Term and in an amount approximately equal to the principal amount to which such Fixed
Rate Term applies.  Borrower understands and agrees that Bank may base its quotation of the Inter-Bank Market Offered Rate upon such
offers or other market indicators of the Inter-Bank Market as Bank in its discretion deems appropriate including, but not limited to,
the rate offered for U.S. dollar deposits on the London Inter-Bank Market.</P>

<P>&#9;(ii)&#9;"LIBOR Reserve Percentage" means the reserve percentage prescribed by the Board of Governors of the Federal Reserve
System (or any successor) for "Eurocurrency Liabilities" (as defined in Regulation D of the Federal Reserve Board, as amended),
adjusted by Bank for expected changes in such reserve percentage during the applicable Fixed Rate Term.</P>

<P>&#9;(d)&#9;"Prime Rate" means at any time the rate of interest most recently announced within Bank at its principal office as its
Prime Rate, with the understanding that the Prime Rate is one of Bank's base rates and serves as the basis upon which effective rates
of interest are calculated for those loans making reference thereto, and is evidenced by the recording thereof after its announcement
in such internal publication or publications as Bank may designate.</P>

<P>INTEREST:</P>

<P>&#9;(a)&#9;<U>Interest</U>.  The outstanding principal balance of this Note shall bear interest (computed on the basis of a 360-
day year, actual days elapsed) either (i) at a fluctuating rate per annum three one quarters percent (0.7525%) below the Prime Rate
in effect from time to time, or (ii) at a fixed rate per annum determined by Bank to be one two and three one quarters percent
(1.752.25%) above LIBOR in effect on the first day of the applicable Fixed Rate Term.  When interest is determined in relation to the
Prime Rate, each change in the rate of interest hereunder shall become effective on the date each Prime Rate change is announced
within Bank.  With respect to each LIBOR selection hereunder, Bank is hereby authorized to note the date, principal amount, interest
rate and Fixed Rate Term applicable thereto and any payments made thereon on Bank's books and records (either manually or by
electronic entry) and/or on any schedule attached to this Note, which notations shall be prima facie evidence of the accuracy of the
information noted.</P>

<P>&#9;(b)&#9;<U>Selection of Interest Rate Options</U>.  At any time any portion of this Note bears interest determined in relation
to LIBOR, it may be continued by Borrower at the end of the Fixed Rate Term applicable thereto so that all or a portion thereof bears
interest determined in relation to the Prime Rate or to LIBOR for a new Fixed Rate Term designated by Borrower.  At any time any
portion of this Note bears interest determined in relation to the Prime Rate, Borrower may convert all or a portion thereof so that
it bears interest determined in relation to LIBOR for a Fixed Rate Term designated by Borrower.  At such time as Borrower requests an
advance hereunder or wishes to select a LIBOR option for all or a portion of the outstanding principal balance hereof, and at the end
of each Fixed Rate Term, Borrower shall give Bank notice specifying: (i) the interest rate option selected by Borrower; (ii)&nbsp;the
principal amount subject thereto; and (iii) for each LIBOR selection, the length of the applicable Fixed Rate Term. Any such notice
may be given by telephone (or such other electronic method as Bank may permit) so long as, with respect to each LIBOR selection, (A)
if requested by Bank, Borrower provides to Bank written confirmation thereof not later than three (3) Business Days after such notice
is given, and (B) such notice is given to Bank prior to 10:00 a.m. on the first day of the Fixed Rate Term, or at a later time during
any Business Day if Bank, at it's sole option but without obligation to do so, accepts Borrower's notice and quotes a fixed rate to
Borrower.  If Borrower does not immediately accept a fixed rate when quoted by Bank, the quoted rate shall expire and any subsequent
LIBOR request from Borrower shall be subject to a redetermination by Bank of the applicable fixed rate.  If no specific designation
of interest is made at the time any advance is requested hereunder or at the end of any Fixed Rate Term, Borrower shall be deemed to
have made a Prime Rate interest selection for such advance or the principal amount to which such Fixed Rate Term applied.</P>

<P>&#9;(c)&#9;<U>Taxes and Regulatory Costs</U>.  Borrower shall pay to Bank immediately upon demand, in addition to any other
amounts due or to become due hereunder, any and all (i) withholdings, interest equalization taxes, stamp taxes or other taxes (except
income and franchise taxes) imposed by any domestic or foreign governmental authority and related in any manner to LIBOR, and (ii)
future, supplemental, emergency or other changes in the LIBOR Reserve Percentage, assessment rates imposed by the Federal Deposit
Insurance Corporation, or similar requirements or costs imposed by any domestic or foreign governmental authority or resulting from
compliance by Bank with any request or directive (whether or not having the force of law) from any central bank or other governmental
authority and related in any manner to LIBOR to the extent they are not included in the calculation of LIBOR.  In determining which
of the foregoing are attributable to any LIBOR option available to Borrower hereunder, any reasonable allocation made by Bank among
its operations shall be conclusive and binding upon Borrower.</P>

<P>&#9;(d)&#9;<U>Payment of Interest</U>.  Interest accrued on this Note shall be payable on the 1st day of each month, commencing
SeptemberJune  1, 2001.</P>

<P>&#9;(e)&#9;<U>Default Interest</U>.  From and after the maturity date of this Note, or such earlier date as all principal owing
hereunder becomes due and payable by acceleration or otherwise, the outstanding principal balance of this Note shall bear interest
until paid in full at an increased rate per annum (computed on the basis of a 360-day year, actual days elapsed) equal to four
percent (4%) above the rate of interest from time to time applicable to this Note.</P>

<P>BORROWING AND REPAYMENT:</P>

<P>&#9;(a)&#9;<U>Borrowing and Repayment</U>.  Borrower may from time to time during the term of this Note borrow, partially or
wholly repay its outstanding borrowings, and reborrow, subject to all of the limitations, terms and conditions of this Note and of
any document executed in connection with or governing this Note; provided however, that the total outstanding borrowings under this
Note shall not at any time exceed the principal amount stated above.  The unpaid principal balance of this obligation at any time
shall be the total amounts advanced hereunder by the holder hereof less the amount of principal payments made hereon by or for any
Borrower, which balance may be endorsed hereon from time to time by the holder.  The outstanding principal balance of this Note shall
be due and payable in full on August 1, 2002.</P>

<P>&#9;(b)&#9;<U>Advances</U>.  Advances hereunder, to the total amount of the principal sum stated above, may be made by the holder
at the oral or written request of (i) _____________________ Greg V. Stockett or Kamal Duggirala, any one acting alone, who are
authorized to request advances and direct the disposition of any advances until written notice of the revocation of such authority is
received by the holder at the office designated above, or (ii) any person, with respect to advances deposited to the credit of any
deposit account of any Borrower, which advances, when so deposited, shall be conclusively presumed to have been made to or for the
benefit of each Borrower regardless of the fact that persons other than those authorized to request advances may have authority to
draw against such account.  The holder shall have no obligation to determine whether any person requesting an advance is or has been
authorized by any Borrower.</P>

<P>&#9;(c)&#9;<U>Application of Payments</U>.  Each payment made on this Note shall be credited first, to any interest then due and
second, to the outstanding principal balance hereof.  All payments credited to principal shall be applied first, to the outstanding
principal balance of this Note which bears interest determined in relation to the Prime Rate, if any, and second, to the outstanding
principal balance of this Note which bears interest determined in relation to LIBOR, with such payments applied to the oldest Fixed
Rate Term first.</P>

<P>PREPAYMENT:</P>

<P>&#9;(a)&#9;<U>Prime Rate</U>.  Borrower may prepay principal on any portion of this Note which bears interest determined in
relation to the Prime Rate at any time, in any amount and without penalty.</P>

<P>&#9;(b)&#9;<U>LIBOR</U>.  Borrower may prepay principal on any portion of this Note which bears interest determined in relation to
LIBOR at any time and in the minimum amount of Fifty Thousand Dollars ($50,000.00); provided however, that if the outstanding
principal balance of such portion of this Note is less than said amount, the minimum prepayment amount shall be the entire
outstanding principal balance thereof.  In consideration of Bank providing this prepayment option to Borrower, or if any such portion
of this Note shall become due and payable at any time prior to the last day of the Fixed Rate Term applicable thereto by acceleration
or otherwise, Borrower shall pay to Bank immediately upon demand a fee which is the sum of the discounted monthly differences for
each month from the month of prepayment through the month in which such Fixed Rate Term matures, calculated as follows for each such
month:</P>
<DIR>
<DIR>
<DIR>
<DIR>

<P>&#9;(i)&#9;<U>Determine</U> the amount of interest which would have accrued each month on the amount prepaid at the interest rate
applicable to such amount had it remained outstanding until the last day of the Fixed Rate Term applicable thereto.</P>

<P>&#9;(ii)&#9;<U>Subtract</U> from the amount determined in (i) above the amount of interest which would have accrued for the same
month on the amount prepaid for the remaining term of such Fixed Rate Term at LIBOR in effect on the date of prepayment for new loans
made for such term and in a principal amount equal to the amount prepaid.</P>

<P>&#9;(iii)&#9;If the result obtained in (ii) for any month is greater than zero, discount that difference by LIBOR used in (ii)
above.</P>
</DIR>
</DIR>
</DIR>
</DIR>

<P>Each Borrower acknowledges that prepayment of such amount may result in Bank incurring additional costs, expenses and/or
liabilities, and that it is difficult to ascertain the full extent of such costs, expenses and/or liabilities.  Each Borrower,
therefore, agrees to pay the above-described prepayment fee and agrees that said amount represents a reasonable estimate of the
prepayment costs, expenses and/or liabilities of Bank.  If Borrower fails to pay any prepayment fee when due, the amount of such
prepayment fee shall thereafter bear interest until paid at a rate per annum two percent (2.0%) above the Prime Rate in effect from
time to time (computed on the basis of a 360-day year, actual days elapsed).  Each change in the rate of interest on any such past
due prepayment fee shall become effective on the date each Prime Rate change is announced within Bank.</P>

<P>EVENTS OF DEFAULT:</P>

<P>&#9;The occurrence of any of the following shall constitute an "Event of Default" under this Note:</P>

<P>&#9;(a)&#9;The failure to pay any principal, interest, fees or other charges when due hereunder or under any contract, instrument
or document executed in connection with this Note.</P>

<P>&#9;(b)&#9;The filing of a petition by or against any Borrower, or any guarantor of this Note or any general partner or joint
venturer in any Borrower which is a partnership or a joint venture (with each any such guarantor, general partner and/or joint
venturer referred to herein as a "Third Party Obligor") under any provisions of the Bankruptcy Reform Act, Title 11 of the United
States Code, as amended or recodified from time to time, or under any similar or other law relating to bankruptcy, insolvency,
reorganization or other relief for debtors; the appointment of a receiver, trustee, custodian or liquidator of or for any part of the
assets or property of any Borrower or Third Party Obligor; any Borrower or Third Party Obligor becomes insolvent, makes a general
assignment for the benefit of creditors or is generally not paying its debts as they become due; or any attachment or like levy on
any property of any Borrower or Third Party Obligor.</P>

<P>&#9;(c)&#9;The death or incapacity of any individual Borrower or Third Party Obligor, or the dissolution or liquidation of any
Borrower or Third Party Obligor which is a corporation, partnership, joint venture or other type of entity.</P>

<P>(d)&#9;Any default in the payment or performance of any obligation, or any defined event of default, under any provisions of any
contract, instrument or document pursuant to which any Borrower or Third Party Obligor has incurred any obligation for borrowed
money, any purchase obligation, or any other liability of any kind to any person or entity, including the holder, and, if the debt or
liability is owed to a party other than Bank, Borrower is contesting, in good faith and by appropriate proceedings, the existence of
the default and the creditor has not accelerated the obligation or otherwise exercised any remedies..</P>

<P>&#9;(e)&#9;Any financial statement provided by any Borrower or Third Party Obligor to Bank proves to be incorrect, false or
misleading in any material respect.</P>

<P>&#9;(f)&#9;Any sale or transfer of all or a substantial or material part of the assets of any Borrower or Third Party Obligor
other than in the ordinary course of its business.</P>

<P>&#9;(g)&#9;Any violation or breach of any provision of, or any defined event of default (collectively, "Default") under, any
addendum to this Note or any loan agreement, guaranty, security agreement, deed of trust, mortgage or other document executed in
connection with or securing this Note and with respect to any such Default which by its nature can be cured, such Default shall
continue for a period of twenty (20) days from its occurrence.. </P>

<P>MISCELLANEOUS:</P>

<P>&#9;(a)&#9;<U>Remedies</U>.  Upon the occurrence of any Event of Default, the holder of this Note, at the holder's option, may
(upon prior written notice, but with no notice if the default consists of Borrower becoming subject to a proceeding under any federal
or state bankruptcy or insolvency proceeding) declare all sums of principal and interest outstanding hereunder to be immediately due
and payable without presentment, demand, further notice of nonperformance, notice of protest, protest or notice of dishonor, all of
which are expressly waived by each Borrower, and the obligation, if any, of the holder to extend any further credit hereunder shall
immediately cease and terminate.  Each Borrower shall pay to the holder immediately upon demand the full amount of all payments,
advances, charges, costs and expenses, including reasonable attorneys' fees (to include outside counsel fees and all allocated costs
of the holder's in-house counsel), expended or incurred by the holder in connection with the enforcement of the holder's rights
and/or the collection of any amounts which become due to the holder under this Note, and the prosecution or defense of any action in
any way related to this Note, including without limitation, any action for declaratory relief, whether incurred at the trial or
appellate level, in an arbitration proceeding or otherwise, and including any of the foregoing incurred in connection with any
bankruptcy proceeding (including without limitation, any adversary proceeding, contested matter or motion brought by Bank or any
other person) relating to any Borrower or any other person or entity.</P>

<P>&#9;(b)&#9;<U>Obligations Joint and Several</U>.  Should more than one person or entity sign this Note as a Borrower, the
obligations of each such Borrower shall be joint and several.</P>

<P>&#9;(c)&#9;<U>Governing Law</U>.  This Note shall be governed by and construed in accordance with the laws of the State of
California.</P>
<P>&#9;</P>
<P>&#9;IN WITNESS WHEREOF, the undersigned has executed this Note as of the date first written above.</P>

<P>BARRA, INC.</P>

<P>By: ___________________________</P>

<P>Title:__________________________</P>

<B><P>&nbsp;</P>
</B><P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P></FONT>EXHIBIT 10.66

                         NON-EXCLUSIVE LICENSE AGREEMENT

     THIS NON-EXCLUSIVE LICENSE AGREEMENT, dated as of September 7, 2001, is by
and among LASERSIGHT INCORPORATED, a Delaware corporation, having an address of
3300 University Boulevard, Suite 140, Winter Park, Florida 32792 ("Parent"),
LASERSIGHT TECHNOLOGIES, INC., a Delaware corporation, having an address of 3300
University Boulevard, Suite 140, Winter Park, Florida 32792 ("Technologies")
(Parent and Technologies are hereinafter jointly and collectively referred to as
"LASERSIGHT") 0nd BAUSCH & LOMB INCORPORATED, a New York corporation, having an
address of One Bausch and Lomb Place, Rochester, New York ("BAUSCH").

                                    RECITALS:

A.   LASERSIGHT owns United States Patent No. 5,520,679 and related patent
     properties ("Patent No. '679" which shall hereinafter mean any patent
     (including but not limited to, reissues, reexaminations, divisions,
     continuations, continuations-in-part, renewals, extensions, and additions),
     any application therefor, and any patent which may issue upon any such
     application which patent or application, mediately or immediately, is based
     on or claims the benefit, in whole or in part, of the earlier filing date
     of either United States Patent Application S.N. 985,617 filed December 3,
     1992, or United States Patent Application S.N. 218,319 filed March 25, 1994
     or both, including, without limitation the CIP (as defined herein)).

B.   On April 6, 2001, Technologies filed at the United States Patent and
     Trademark Office (the "Patent and Trademark Office") United States Patent
     Application S.N. 826,843 that claims priority to the applications leading
     to United States Patent No. 5,520,679 (the "CIP").

C.   BAUSCH desires to acquire, and LASERSIGHT is willing to grant, a
     nonexclusive license (without the right to sub-license) under Patent No.
     '679.
<PAGE>

     NOW, THEREFORE, the parties hereto agree as follows:

ARTICLE I.        DEFINITIONS

     As used above and throughout this License Agreement, the definitions of the
following terms have the meanings set forth below:

(a)  "Affiliated Company" shall mean any person or entity (each a "Person")
     controlling, controlled by or under common control with another Person. For
     purposes of this definition, "control" (including, with correlative
     meaning, the terms "controlled by" and "under common control with"), as
     used with respect to any Person, shall mean the possession, directly or
     indirectly, of the exclusive power to direct and cause the direction of the
     management and policies of such Person, whether through the ownership of
     voting securities, by contract or otherwise.

(b)  "Agreement" shall mean this Non-Exclusive License Agreement.

(c)  "Change in Control" as to Parent and Technologies shall mean: (i) the
     acquisition by any person, entity or group (within the meaning of Section
     13(d)(3) or 14(d)(2) of the Securities and Exchange Act of 1934, as amended
     (the "1934 Act")) of beneficial ownership (within the meaning of SEC Rule
     13d-3 under the 1934 Act) of 50% or more of the then-outstanding common
     stock of either Parent or Technologies, as applicable (such transferring
     party being hereinafter referred to as the "Transferring Party"); provided,
     however, that no Change of Control shall occur solely by reason of (A) any
     such acquisition by a corporation with respect to which, after such
     acquisition, more than 60% of the then-outstanding common shares of such
     corporation are then beneficially owned, directly or indirectly, by the
     Persons who were the beneficial owners of the common stock of the
     Transferring Party immediately before such acquisition in substantially the
     same proportions as their respective ownership, immediately before such
     acquisition, of the then-outstanding common stock of the Transferring

<PAGE>

     Party, (B) any acquisition by the Transferring Party or (C) any acquisition
     by an employee benefit plan of the Transferring Party; or (ii) approval by
     the stockholders of either Parent or Technologies (such approving party
     being hereinafter referred to as the "Approving Party") of (A) a merger,
     reorganization or consolidation ("Transaction") with respect to which
     Persons who were the respective beneficial owners of the common stock of
     such Approving Party immediately before the Transaction do not, immediately
     thereafter, beneficially own, directly or indirectly, more than 60% of the
     then-outstanding common shares of the corporation resulting from the
     Transaction, or (B) the sale or other disposition of all or substantially
     all of the assets of the Approving Party.

(d)  "Effective Date" shall mean the date first above written.

(e)  "Net Royalties" shall mean all monetary consideration, including without
     limitation all royalties, licensing fees, per-procedure fees or the like,
     received by LASERSIGHT or any Affiliated Company of LASERSIGHT derived, in
     any way, from licensing Patent No. '679 in excess of all direct,
     out-of-pocket litigation, arbitration or other dispute resolution costs and
     expenses, including attorney fees, expert fees and court related expenses,
     incurred by LASERSIGHT or any Unrelated Third Party receiving monetary
     consideration derived from the licensing of Patent '679 other than TLC (as
     defined herein) following the Effective Date and in connection with the
     enforcement of Patent No. '679 (the "Litigation Costs") provided that for
     purposes of calculating Net Royalties in no event will the aggregate of all
     such Litigation Costs exceed $3,000,000. If LASERSIGHT and/or such
     Unrelated Third Party incurs Litigation Costs in excess of $3,000,000, the
     amount of such excess will not be deducted from the monetary consideration
     utilized in the calculation of Net Royalties hereunder. Litigation Costs
     shall be deducted only as such costs are paid by LASERSIGHT or such other

<PAGE>

     Unrelated Third Party. For purposes of calculating Net Royalties the amount
     required to be paid to TLC The Laser Centers Patents Inc. ("TLC") pursuant
     to that certain Exclusive License Agreement dated August 20, 1998 (the "TLC
     License") as a result of the receipt of any monetary consideration for
     licensing Patent No. '679 shall not be considered to have been received by
     LASERSIGHT. For purposes of calculating Net Royalties all monetary
     consideration, including, without limitation all royalties, licensing fees,
     per-procedure fees or the like that are derived, in any way, from licensing
     Patent No. '679, but are received by an Unrelated Third Party as a result
     of, or by reason of, LASERSIGHT assigning or otherwise transferring,
     directly or indirectly, or consenting to or permitting the assignment or
     other transfer of the right to receive such monetary consideration, shall
     be deemed to be received by LASERSIGHT and included in the calculation of
     Net Royalties, provided that as described in the immediately preceding
     sentence, the amounts paid to TLC related to licensing Patent No. '679
     pursuant to the TLC License shall not be considered for purposes of
     calculating Net Royalties.

(f)  "Patent Materials" means (i) all publicly available documents related to
     Patent No. '679 that are in the possession of LASERSIGHT or its advisors,
     including, without limitation, copies of all patents and applications and
     correspondence between patent offices and applicant concerning any patent
     property including abandoned applications within the meaning of Patent No.
     '679, (ii) all documents of any kind or nature that relate to the
     prosecution history of Patent No. '679, including, without limitation the
     CIP, that are in the possession of LASERSIGHT or its advisors, and (iii)
     all other documents and information provided by LASERSIGHT under Section
     3.1 of this Agreement.

(g)  "Ophthalmic" shall mean of or relating to the care or treatment of the eye.
<PAGE>

(h)  "Patent No. '679" is defined in Recital A and as of the Effective Date
     consists of those pending and issued properties described on Exhibit A.

(i)  "Product" shall mean any apparatus (a) that is capable of performing an
     Ophthalmic method or procedure, and (b) that would, except for this
     Agreement, infringe a claim in Patent No. '679.

(j)  "Unrelated Third Parties" shall mean any person or entity that is not an
     Affiliated Company.

ARTICLE II.       WARRANTIES AND COVENANTS

2.1  LASERSIGHT warrants that (i) it is the owner of the entire right, title and
     interest to each and all of the patent properties that comprise Patent No.
     '679, (ii) it has the full right to grant a nonexclusive license under
     Patent No. '679 as provided in this Agreement, (iii) Exhibit A sets forth a
     complete and accurate list of all pending and issued properties that, as of
     the Effective Date, comprise Patent No. '679, and (iv) the ownership of the
     properties indicated on Exhibit A is consistent with the books and records
     of both LASERSIGHT and the Patent and Trademark Office.

2.2  LASERSIGHT warrants that it has the full power, right and authority to
     enter into and carry out its obligations under this Agreement and that this
     Agreement constitutes the valid and legally binding obligation of
     LASERSIGHT, enforceable in accordance with its terms and conditions.

2.3  BAUSCH warrants that BAUSCH has full power, right and authority to enter
     into and carry out its obligations under this Agreement and that this
     Agreement constitutes the valid and legally binding obligation of BAUSCH,
     enforceable in accordance with its terms and conditions.
<PAGE>

2.4  BAUSCH acknowledges that it is not relying on any statements made by
     LASERSIGHT with respect to the validity and enforceability of Patent No.
     '679. Patent No. '679 is being licensed on an "AS-IS" basis with no
     warranties of any kind, other than warranties, representations, covenants
     and commitments made by LASERSIGHT in this Agreement.

ARTICLE III.      DUE DILIGENCE

3.1  LASERSIGHT shall (a) deliver two copies of Patent Materials to BAUSCH and
     (b) shall meet with BAUSCH to review and answer questions concerning the
     Patent Materials. The parties acknowledge and agree that the Patent
     Materials are being delivered to BAUSCH subject to the confidentiality
     provisions of this Agreement and that the parties have a common legal
     interest in keeping the Patent Materials confidential since the Patent
     Materials will be utilized in order to allow BAUSCH to evaluate whether it
     wants to make an additional payment to LASERSIGHT as described in Section
     6.4 and eliminate the right granted to LASERSIGHT pursuant to Section 6.2
     to terminate the license granted to BAUSCH pursuant to this Agreement.

3.2  Within 30 days from satisfaction of LASERSIGHT's obligations under Section
     3.1, BAUSCH shall complete its due diligence concerning Patent No. '679
     (said 30-day period being the "Due Diligence Period"). LASERSIGHT shall
     reasonably and timely cooperate with and respond to BAUSCH during the Due
     Diligence Period. LASERSIGHT acknowledges that time is of the essence given
     the limited time BAUSCH has to complete its review.

3.3  Within 10 days after the end of the Due Diligence Period, BAUSCH shall
     notify LASERSIGHT in writing if BAUSCH elects to eliminate the right
     granted to LASERSIGHT pursuant to Section 6.2 to terminate the license
     granted to BAUSCH under this Agreement (the "Election Notice").
<PAGE>

3.4  BAUSCH shall, for a period of ten years from the Effective Date, hold the
     Patent Materials in confidence and shall not either directly or indirectly
     disclose or use such Materials except in connection with its due diligence
     under this Article III. The obligations of confidence and non-use under
     this Section 3.4 shall not apply to: (i) information which at the time of
     disclosure is in the public domain; or (ii) information which thereafter
     lawfully becomes a part of the public domain other than through disclosure
     by or through BAUSCH in violation of this Agreement; or (iii) information
     which is already in the possession of BAUSCH as shown by its written
     record; or (iv) information which is lawfully disclosed to BAUSCH by a
     third party not under an obligation of confidentiality to the disclosing
     party with respect to said information; or (v) information which is
     subsequently developed by an employee or agent of BAUSCH without actual
     knowledge of the disclosure. The obligations of this Section 3.4 are
     subject to Section 3.5 below. The obligations of this Section 3.4 survive
     the expiration or termination of this Agreement.

3.5  If BAUSCH is requested (by oral questions, interrogatories, requests for
     information or documents, subpoena, civil investigative demand or similar
     process) to disclose any Patent Materials, BAUSCH agrees to notify
     LASERSIGHT promptly of such request(s) and the documents requested thereby
     so that LASERSIGHT may seek an appropriate protective order and/or waive in
     writing BAUSCH's compliance with the provisions of this Section 3.5. It is
     further agreed that, if in the absence of a protective order or the receipt
     of a waiver hereunder BAUSCH is nonetheless, in the opinion of BAUSCH's
     counsel, compelled to disclose the relevant Patent Materials or else stand
     liable for contempt or suffer other penalty from any tribunal or
     governmental or similar authority, BAUSCH may disclose such information
     without liability hereunder; provided, however, that BAUSCH shall give

<PAGE>

     LASERSIGHT written notice of the information to be so disclosed as far in
     advance of its disclosure as is practicable and shall use reasonable
     commercial efforts to obtain an order or other reliable assurance that
     confidential treatment will be accorded to such portion of the information
     required to be disclosed.

ARTICLE IV.       CONFIDENTIALITY OF AGREEMENT

     Each party hereby covenants and agrees that it shall exercise all
reasonable efforts to maintain the terms of this Agreement that the parties may
identify prior to signing this Agreement, if any (the "Confidential Terms"), in
strict confidence and shall not disclose the Confidential Terms to any person
other than their employees and agents who have an absolute need to know that
information. In the event that under applicable securities laws, the rules of
any governmental authority, the terms of an order of a court of competent
jurisdiction or a formal discovery request any party is required to make
disclosures of any of the Confidential Terms, then before making any such
disclosure that party shall consult with the other party concerning such
requirement and shall apply and request in accordance with the rules of the
applicable governmental authority or court that the Confidential Terms be
maintained in strict confidence (e.g., in the case of a court, by obtaining the
strictest available protective order, or, in the case of the Securities and
Exchange Commission, by obtaining confidential treatment). Either party may
issue a press release or other statement announcing the existence (but not the
Confidential Terms) of this Agreement, provided that the party first obtains the
other party's written approval of the content of the press release, which
approval will not be unreasonably withheld.

ARTICLE V.        GRANT OF NONEXCLUSIVE LICENSE

     5.1 For the consideration set forth in Section 6.1 and subject to the terms
of this Agreement, including, without limitation Section 5.2 below, as of the
Effective Date LASERSIGHT hereby grants and agrees to grant to BAUSCH under

<PAGE>

Patent No. '679 a nonexclusive license (without the right to sublicense, except
to Affiliated Companies of BAUSCH, during such times as such Person or Persons
continue to be Affiliated Companies of BAUSCH and except as set forth below):

     (a)  to make, have made, use, lease, import into the United States, offer
          to sell, sell, and/or otherwise dispose of Products,

     (b)  to perform and have performed the methods embodying the invention
          thereof in the Ophthalmic field, and

     (c)  to sublicense, without the right to grant further sublicenses, the
          methods embodying the invention thereof to users of the Products
          licensed under subsection 5.1(a) above.

5.2  The license granted to BAUSCH pursuant to Section 5.1 shall only apply to
     Products made by (a) BAUSCH or its Affiliated Companies exclusively for the
     sale by BAUSCH, its Affiliated Companies or distributors for BAUSCH or its
     Affiliated Companies, (b) Technovision GmbH for BAUSCH, provided that this
     subsection 5.2(b) shall be of no further force or effect if Technovision
     GmbH directly or indirectly becomes an Affiliated Company to Alcon
     Laboratories, Inc. or any of its Affiliated Companies, (c) Unrelated Third
     Parties selected by BAUSCH to make a Product for BAUSCH, which Unrelated
     Third Parties are not at the time BAUSCH selects such party to make such
     Product (and within a period of six months prior to such selection) engaged
     anywhere in the world in the sale (including sale through distributors) of
     such Product, provided that if BAUSCH selects such Unrelated Third Party to
     make an additional Product for BAUSCH, at the time of such further
     selection (and within a period of six months prior to such selection) such
     party may not be engaged anywhere in the world in the sale (including sale
     through distributors) of such additional Product, and (d) Unrelated Third

<PAGE>

     Parties selected by BAUSCH to make a Product for BAUSCH, which parties are
     at the time BAUSCH selects such party to make such Product (and within a
     period of six months prior to such selection) engaged anywhere in the world
     in the sale (including sale through distributors) of Products other than
     the Product such party will make for BAUSCH, provided that the Product that
     such party makes for BAUSCH must be designed and made exclusively for
     BAUSCH, provided further that if BAUSCH selects such Unrelated Third Party
     to make an additional Product for BAUSCH, at the time of such further
     selection (and within a period of six months prior to such selection) such
     party may not be engaged anywhere in the world in the sale (including sale
     through distributors) of such additional Product. For purposes of Section
     5.1 Affiliated Companies of BAUSCH shall not include any type of
     cooperative venture involving BAUSCH or Affiliated Companies of BAUSCH on
     the one hand and Alcon Laboratories, Inc. or Affiliated Companies of Alcon
     Laboratories, Inc. on the other hand.

5.3  As of the Effective Date LASERSIGHT hereby releases and discharges BAUSCH
     and each of its Affiliated Companies and their officers, directors,
     employees, representatives, agents, customers and attorneys, and grants
     each such person and entity immunity from suit from and against any and all
     claims, demands, actions, or causes of action related to any infringement
     of Patent No. '679 which arose or which may arise at any time during the
     existence and continuation of the license granted to BAUSCH by this
     Agreement.

5.4  The parties understand and agree that no license or other right is granted
     herein to either party, directly or by implication, estoppel or otherwise,
     with respect to any trade secrets or know-how, and that no such license or
     other right shall arise from the consummation of this Agreement or from any
     acts, statements or dealings leading to such consummation. Except as

<PAGE>

     specifically provided herein, neither party is required hereunder to
     furnish or disclose to the other any technical or other information.

ARTICLE VI.       CONSIDERATION/CERTAIN TERMINATION RIGHTS

6.1  In consideration for the non-exclusive rights granted under Article V of
     this Agreement, BAUSCH shall make a lump sum payment to LASERSIGHT in the
     amount of $2,999,900 (the "License Payment"). Such payment shall be made
     within five days after the Effective Date via wire transfer of immediately
     available funds to an account designated by LASERSIGHT.

6.2  Unless BAUSCH makes the Final Payment as described in Section 6.4, then at
     any time after the expiration of the 15 day period immediately following
     the conclusion of the Due Diligence Period, LASERSIGHT may elect to
     terminate the license granted to BAUSCH pursuant to this Agreement by (i)
     paying BAUSCH $3,000,000, as such amount is reduced by payments to BAUSCH
     pursuant to Section 6.3, and (ii) notifying BAUSCH in writing that the
     license granted to BAUSCH under this Agreement is terminated.

6.3  Unless otherwise provided herein, commencing as of the Effective Date,
     LASERSIGHT shall thereafter pay BAUSCH 10% of Net Royalties, up to a total
     of $3,000,000, provided that in no event will LASERSIGHT be obligated
     pursuant to this Agreement to pay BAUSCH more than $500,000 in any calendar
     year. Payments to BAUSCH pursuant to this Section 6.3 shall be made on
     February 1 and August 1 of each year hereafter and shall take into account
     Net Royalties received through the applicable December 31 and June 30 time
     period. Each such payment shall be accompanied by a report describing the
     calculation of Net Royalties that relate to such six-month period.
     LASERSIGHT's obligations under this Section 6.3 shall cease and be of no
     force or effect upon the first to occur of (i) BAUSCH making the Final

<PAGE>

     Payment to LASERSIGHT, (ii) LASERSIGHT making the payment to BAUSCH
     described in Section 6.2 or 6.5, or (iii) LASERSIGHT paying BAUSCH a total
     of $3,000,000 pursuant to this Section 6.3 or 6.5.

     LASERSIGHT shall keep, maintain and preserve in its principal place of
     business until such time as Bausch makes the Final Payment or LASERSIGHT
     pays Bausch $3,000,000 pursuant to Section 6.3 and for at least 18 months
     thereafter, complete and accurate books, accounts, records and other
     materials covering all transactions related to the generation and
     calculation of Net Royalties. BAUSCH may designate an independent auditor
     or auditors and such independent auditor or auditors shall have the right
     to inspect and audit all such materials related to the generation and
     calculation of Net Royalties. Such materials shall be available for
     inspection and audit (including photocopying) at any time during the period
     set forth in this Section above; however, such inspection or audit shall
     not occur more often than once every 12 months during the term of this
     Agreement, and shall take place during normal business hours and upon at
     least two days notice. Should any audit indicate an underpayment of any
     payments due hereunder then LASERSIGHT shall promptly pay BAUSCH the full
     amount of any underpayment.

     LASERSIGHT shall require any transferee of LASERSIGHT's rights or
     obligations pursuant to this Agreement to discharge LASERSIGHT's
     obligations pursuant to this Section 6.3.

6.4  If BAUSCH delivers the Election Notice in accordance with Section 3.3,
     BAUSCH shall pay LASERSIGHT an additional $2,000,000 (the "Final Payment")
     within the five day period immediately after the conclusion of the 10 day
     period described in Section 3.3. The Final Payment shall be made via wire
     transfer of immediately available funds to an account designated by
     LASERSIGHT. If BAUSCH pays LASERSIGHT the Final Payment the license to

<PAGE>

     Patent No. '679 granted in this Agreement shall not be subject to
     termination and the provisions of Sections 6.2, 6.3 and 6.5 shall not apply
     and shall be of no force and effect.

6.5  Notwithstanding any of the foregoing, if (i) BAUSCH elects not to deliver
     the Election Notice pursuant to Section 3.3 and (ii) LASERSIGHT has not
     paid BAUSCH a total of $3,000,000 under the terms of Sections 6.2 and 6.3
     and (iii) there is a Change in Control of either Parent or Technologies,
     then within 30 days after the occurrence of the event causing such Change
     in Control, LASERSIGHT shall pay to BAUSCH the difference between
     $3,000,000 and the total amount received by BAUSCH under Section 6.3.

ARTICLE VII.      EVENT OF BANKRUPTCY

     All licenses granted under this Agreement by LASERSIGHT to BAUSCH, for all
purposes of Section 365(n) of Title XI of the United States Code ("Title XI"),
are licenses of rights to "intellectual property" as defined in Title XI. For as
long as BAUSCH has a license pursuant to this Agreement LASERSIGHT shall create
and maintain current copies to the extent practicable of all such intellectual
property which shall include, without limitation, the Patent Materials. If
during the period of time BAUSCH has a license pursuant to this Agreement a
bankruptcy proceeding is commenced by or against LASERSIGHT under Title XI,
BAUSCH shall be entitled to a copy of any and all such intellectual property,
and the same, if not in the possession of BAUSCH, shall be promptly delivered to
it (i) upon BAUSCH's written request following the commencement of such
bankruptcy proceeding, unless prohibited by applicable law or unless LASERSIGHT,
or its trustee or receiver, elects within 30 days to continue to perform all of
its obligations under this Agreement, or (ii) if not delivered as provided under
clause (i) above, upon BAUSCH's request following the rejection of this
Agreement by or on behalf of LASERSIGHT, unless prohibited by applicable law. If
BAUSCH has taken possession of all applicable embodiments of the intellectual

<PAGE>

property of LASERSIGHT pursuant to this Section and the trustee in bankruptcy of
LASERSIGHT does not reject this Agreement, BAUSCH shall promptly return such
embodiments. If LASERSIGHT seeks or involuntarily is placed under Title XI and
the trustee rejects this Agreement as contemplated under 11 U.S.C. 365(n)(1),
BAUSCH reserves all of its rights including, without limitation, the right to
elect pursuant to Section 365(n) to retain all rights granted to BAUSCH under
this Agreement to the extent permitted by law.

ARTICLE VIII.     PATENT MAINTENANCE

8.1  LASERSIGHT shall pay all fees and costs necessary to maintain Patent No.
     '679 for its full term.

8.2  In the event Patent No. '679 is subject to a legal or an administrative
     proceeding concerning patent validity, patentability or a related issue,
     LASERSIGHT shall inform BAUSCH of such a proceeding and keep BAUSCH
     regularly apprised of such proceedings.

ARTICLE IX.       GOVERNING LAW; DISPUTE RESOLUTION

9.1  All parties to this Agreement, including the undersigned parties, their
     successors and assigns and all others who may hereafter become bound by
     this Agreement by assuming it or otherwise (all collectively, the
     "Parties") do hereby reciprocally and irrevocably agree to the following
     matters, all of which shall also apply fully to anyone else who has or
     asserts any rights under this Agreement as third party beneficiary or
     otherwise (all of whom are also "Parties" as used herein):

     (a)  Choice of Law: This Agreement shall in all respects be construed and
          enforced in accordance with the law of the State of Delaware.

     (b)  Claims as to Subject Matter to be Determined in Delaware Courts: All
          judicial cases or proceedings involving Parties and involving subject

<PAGE>

          matter that includes any claims, demands or disputes that now exist or
          may hereafter arise (all collectively called "Claims" herein) arising
          from or relating to any aspect of, (1) the negotiation or execution of
          this Agreement, (2) any question as to the validity or effect of this
          Agreement, (3) anything done by anyone in the performance of this
          Agreement, (4) any alleged breach of this Agreement, or (5) any
          alleged modification, extension or continuation of this Agreement (all
          collectively called the "Subject Matter" herein), shall, whether or
          not such proceedings or cases also involve other parties or matters,
          proceed and be determined only in the state and/or federal courts
          located in New Castle County, State of Delaware (all collectively,
          "Delaware Courts") and in the courts having appellate jurisdiction
          over them, and not elsewhere.

     (c)  No Proceedings Elsewhere: No Party shall initiate or pursue any case
          or proceeding of any kind against any other Party as to any Claim
          arising from or relating to any aspect of the Subject Matter, in any
          forum other than a Delaware Court.

     (d)  Waiver of Objections to Forum; Waiver of Change of Forum Remedies: All
          Parties hereby reciprocally and irrevocably waive in advance any and
          all objections to the Delaware Courts as proper forums based upon any
          of: venue, the doctrine of forum non conveniens, the present or future
          pendency of any other case or proceeding elsewhere, any compulsory
          counterclaim rule, or any other doctrine, statute, rule, practice or
          fact related to such objection.

     (e)  Submission to In Personam Jurisdiction; Service of Process: For
          purposes of all actions or proceedings that involve Claims arising
          from or relating to the Subject Matter (whether or not they also
          involve other matters or parties), all Parties do hereby irrevocably
          submit themselves to the personal jurisdiction of each and all of said
          Delaware Courts, and do hereby irrevocably agree for purposes of all

<PAGE>

          such actions or proceedings that service of such Delaware Courts'
          process upon them may be duly perfected by the following method,
          which, in itself, shall constitute due and sufficient service of such
          process, hand delivery or delivery by a nationally recognized courier
          service to a Party at its address stated below, or by certified mail,
          return receipt requested, to the Party at such address:

                        LASERSIGHT INCORPORATED
                        3300 University Boulevard
                        Suite 140
                        Orlando, FL  32792
                        Attention:  Chief Executive Officer

                        BAUSCH & LOMB INCORPORATED
                        One Bausch and Lomb Place
                        Rochester, NY 14604-2701
                        Attention:  Senior Vice President and General Counsel

ARTICLE X.        ASSIGNMENT/TRANSFER OF PATENT OR RIGHTS

     Neither this Agreement nor any interest hereunder shall be assignable by
BAUSCH, without the express written consent of LASERSIGHT, which consent may be
granted or withheld without or with reason in LASERSIGHT's sole discretion,
except that BAUSCH may assign all but not less than all of its rights and
obligations under this Agreement to any successor by way of (i) merger,
consolidation or acquisition of BAUSCH, (ii) acquisition of substantially all of
BAUSCH's assets associated with laser vision corrective refractive surgery, or
(iii) merger, consolidation or the acquisition of the stock or other equity
interest of an Affiliated Company of BAUSCH owning substantially all of the
assets of BAUSCH associated with laser vision corrective refractive surgery,
provided however, in no event may BAUSCH assign or transfer this Agreement to
Alcon Laboratories, Inc. or an Affiliate Company thereof, without the express
written consent of LASERSIGHT. Other than the rights granted pursuant to the TLC
License, LASERSIGHT has not and shall not sell, transfer, assign, or otherwise
dispose of the ownership of Patent No. '679 (or any of the properties comprising

<PAGE>

Patent No. '679) or any rights to receive any monetary consideration derived, in
any way, from the licensing of Patent No. '679 to any party other than BAUSCH
unless LASERSIGHT requires such party, and such party agrees in writing, to
assume all of the obligations of LASERSIGHT under this Agreement. In the event
of any such assignment, LASERSIGHT shall not be released from any obligations
hereunder but shall remain jointly obligated under the terms of this Agreement
unless released in writing by BAUSCH. Any attempted assignment in contravention
of the terms of this Article X shall be void ab initio. This Agreement shall
inure to the benefit of and shall be binding upon the parties and their
successors and permitted assigns, and the name of a party appearing herein shall
be deemed to include the names of such party's successors and permitted assigns
to the extent necessary to carry out the intent of this Agreement.

ARTICLE XI.       RIGHT OF FIRST REFUSAL

11.1 If at any time during the continuation of BAUSCH's rights under Sections
     5.1 and 5.2, LASERSIGHT receives a bona fide offer from any third party
     ("Third Party Offer") to purchase Patent No. '679 or one or more of the
     properties comprising Patent No. '679 and LASERSIGHT wants to accept such
     offer, LASERSIGHT shall give BAUSCH written notice (the "Offer Notice") of
     the Third Party Offer. The Offer Notice shall include an offer (the
     "Offer") to BAUSCH to purchase Patent No. '679 (or the applicable property
     comprising Patent No. '679) upon the terms and conditions contained in the
     Third Party Offer. The Offer Notice shall also include a copy of the Third
     Party Offer stating all material terms and conditions, including the
     purchase price and payment terms.. If the Third Party Offer contemplates a
     closing of the Third Party Offer on a date that is sooner than 20 business
     days after the date on which LASERSIGHT notifies BAUSCH of the Third Party

<PAGE>

     Offer, LASERSIGHT shall, as soon as possible, deliver to BAUSCH the
     definitive agreements which have been accepted by the Third Party that will
     be utilized to finalize the Third Party Offer. BAUSCH shall have 10
     business days from the date of receipt of the Offer Notice to accept the
     Offer in writing. If BAUSCH accepts the Offer, the parties shall use their
     best efforts to finalize the transfer of Patent No. '679 to BAUSCH in
     accordance with the terms of the Third Party Offer, including the closing
     date contemplated in the Third Party Offer, provided that in no event will
     such closing date occur until after the expiration of the 20 business day
     period immediately following the date on which LASERSIGHT provided the
     Third Party Offer to BAUSCH or the date which is 10 business days following
     the date that LASERSIGHT provided such definitive agreements to BAUSCH, if
     any, whichever is later. If BAUSCH does not respond prior to the expiration
     of such 10 business day period or is unable to finalize the transaction in
     accordance with the terms of the Third Party Offer, BAUSCH will be deemed
     to have rejected the Offer, and LASERSIGHT shall be entitled to sell Patent
     No. '679 (or the relevant property comprising Patent No. '679) to such
     Third Party pursuant to the terms of the Third Party Offer and the
     definitive agreements previously provided to Bausch, if any. If LASERSIGHT
     does not finalize the sale of Patent No. '679 (or the relevant property
     comprising Patent No. '679) in accordance with the terms of such Third
     Party Offer and the definitive agreements previously provided to Bausch, if
     any, LASERSIGHT shall again comply with the terms of this Section 11.1
     before selling or disposing of Patent No. '679 ( or any relevant potion
     thereof) to any Third Party.

11.2 BAUSCH acknowledges and agrees that the following transactions that may
     result in the transfer of Patent No. '679 shall not be subject to the
     requirements of Section 11.1: (i) the transfer of Patent No. '679 that
     results from a Change in Control transaction, and (ii) a sale or transfer
     to a LASERSIGHT Affiliated Company.
<PAGE>

ARTICLE XII.      MISCELLANEOUS

12.1 No variation or amendment of this Agreement shall bind either party unless
     made in writing and agreed to in writing by a duly authorized officer of
     Parent and a duly authorized officer of BAUSCH.

12.2 If any of the provisions of this Agreement are held void or unenforceable,
     the remaining provisions shall nevertheless be effective, the intent being
     to effectuate this Agreement to the fullest extent possible.

12.3 If either party fails to fulfill its obligations hereunder when such
     failure is due to an act of God, or other event such as fire, flood, civil
     commotion, riot, war (declared and undeclared), revolution, action by
     government including delays in obtaining governmental approvals or
     embargoes, then said failure shall be excused for the duration of said
     event. This provision shall not apply where the failure to fulfill an
     obligation results solely from the action or inaction of a party.

12.4 The headings in this Agreement are for convenience only and are not
     intended to have any legal effect.

12.5 A failure by any party hereto to exercise or enforce any rights conferred
     upon it by this Agreement shall not be deemed to be a waiver of any such
     rights or operate so as to bar the exercise or enforcement thereof at any
     subsequent time or times.

12.6 Nothing in this Agreement is intended or shall be deemed to constitute a
     partnership, agency, employer-employee or joint venture relationship
     between the parties. All activities by the parties hereunder shall be
     performed by them as independent contractors. No party shall incur any
     debts or make any commitments for or on behalf of the other party, unless
     specifically authorized in writing by an officer of Parent or by an officer
     of BAUSCH.
<PAGE>

12.7 Each of BAUSCH and LASERSIGHT shall use its best efforts to obtain all
     consents and authorizations of third parties and shall take such additional
     action (including but not limited to the execution and delivery of such
     further documents) as the other party may reasonably request in writing to
     cooperate so that the transactions contemplated by this Agreement may be
     expeditiously consummated.

12.8 Any notice, request, instruction or other communication required or
     permitted to be given under this Agreement shall be in writing and shall be
     given by sending such notice properly addressed to the other Party' s
     address shown below (or any other address as any party may indicate to the
     others from time to time in accordance with this section): (i) by hand or
     by prepaid registered or certified mail, return receipt requested, (ii) by
     a nationally recognized overnight courier service, or (iii) via facsimile
     (provided such facsimile is sent by a machine which acknowledges receipt of
     the transmission) at the following addresses:

                           LASERSIGHT:

                           LaserSight Incorporated
                           3300 University Boulevard
                           Suite 140
                           Winter Park, Florida 32792
                           Attn: President
                           Fax No.: 407-678-9982

                           BAUSCH:

                           Bausch & Lomb Incorporated
                           One Bausch and Lomb Place
                           Rochester, New York 14604
                           Attn: Senior Vice President and General Counsel
                           Fax No. 716-338-8706

Any notice if sent as set forth above, shall be deemed made (a) three (3) days
after the date of mailing as indicated on the certified or registered mail
receipt, (b) on the next business day if sent by overnight courier service, or

<PAGE>

(c) on the date of delivery if hand delivered or the date of transmission if
sent by facsimile transmission.

12.9 This Agreement constitutes the entire agreement between the parties as to
     the subject matter hereof, and all prior negotiations, representations,
     agreements and understandings are merged into, extinguished by and
     completely expressed by this Agreement.

12.10 In any interpretation of this Agreement, it shall be deemed that this
     Agreement was prepared jointly by the parties, and no ambiguity shall be
     resolved against either party on the premise or presumption that it was
     responsible for drafting this Agreement.

12.11 This Agreement may be executed in one or more identical counterparts, each
     of which shall be deemed an original but all of which together shall
     constitute one and the same instrument.

<PAGE>

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
first set forth above.

                                         BAUSCH & LOMB INCORPORATED

September 7, 2001              By:          /s/ Stephen C. McCluski
                                        ----------------------------
                                                Stephen C. McCluski
                                                Senior VP and CFO

                                         LASERSIGHT INCORPORATED

September 7, 2001              By:          /s/ Michael R. Farris
                                        ----------------------------
                                                Michael R. Farris
                                                President and CEO

                                         LASERSIGHT TECHNOLOGIES, INC.

September 7, 2001              By:          /s/ Michael R. Farris
                                        ----------------------------
                                                Michael R. Farris
                                                President and CEO

<PAGE>

                                    EXHIBIT A

                           PATENT NO. '679 PROPERTIES

1.   U. S. Patent No. 5,520,679, filed March 25, 1994. Owner: Parent.

2.   Reissue of U.S. Patent No.  5,520,679,  which is the subject of a Notice of
     Allowance  issued by the Patent  and  Trademark  Office on April 30,  2001.
     Owner: Parent

3.   United  States  Application  No.  09/826,843,  filed April 6, 2001.  Owner:
     Technologies

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