Document:

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                                                                   Exhibit 10.30

                              THREE OVERLOOK POINT

                          LINCOLNSHIRE CORPORATE CENTER

                              AMENDED AND RESTATED

                                  OFFICE LEASE

                                     BETWEEN

                    AMERICAN NATIONAL BANK AND TRUST COMPANY
            OF CHICAGO, ILLINOIS, not personally but as Trustee under
               Trust Agreement dated November 6, 1989 and known as
                               Trust No. 109810-09

                                    LANDLORD

                                       and

                                HEWITT ASSOCIATES

                                     TENANT

                             DATED: December 1, 1989

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<TABLE>
                                TABLE OF CONTENTS
<S>                                                                    <C>
SUPPLEMENTAL PROVISIONS .............................................   5
S.1   Identification ................................................   5
S.2   Recording .....................................................   5
S.3   Base Rent .....................................................   5
S.4   Lease Term Adjustment .........................................   5
1.    Base Rent .....................................................   6
2.    Additional Rent ...............................................   6
3.    Use of Premises ...............................................  13
4.    Delivery of Possession ........................................  15
5.    Alterations ...................................................  15
6.    Services ......................................................  16
7.    Condition and Care of Premises ................................  20
8.    Return of Premises ............................................  21
9.    Holding Over ..................................................  22
10.   Rules and Regulations .........................................  22
11.   Rights Reserved to Landlord ...................................  23
12.   Assignment and Subletting .....................................  25
13.   Waiver of Certain Claims; Indemnity by Tenant .................  27
14.   Damage or Destruction by Casualty .............................  28
15.   Eminent Domain ................................................  30
16.   Default; Landlord's Rights and Remedies .......................  31
17.   Subordination .................................................  34
18.   Mortgagee Protection ..........................................  36
19.   Subrogation and Insurance .....................................  36
20.   Nonwaiver .....................................................  37
21.   Estoppel Certificate ..........................................  38
22.   Tenant Authority to Execute Lease .............................  38
23.   Real Estate Brokers ...........................................  38
24.   Notices .......................................................  38
25.   Miscellaneous .................................................  39
26.   Landlord's Authority and Quiet Enjoyment ......................  40
27.   Landlord ......................................................  40
28.   Title and Covenant Against Liens ..............................  40
29.   Parking .......................................................  41
30.   Exculpatory Provisions ........................................  41
31.   Joint Venture Agreement .......................................  42
</TABLE>

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          AMENDED AND RESTATED LEASE with Hewitt Associates ("Tenant")

                      on Premises at Three Overlook Point,
                          Lincolnshire Corporate Center
                             Lincolnshire, Illinois

     This Amended and Restated Lease ("Lease"), made as of the Date of Lease set
forth in the following Schedule (the "Schedule"), by and between AMERICAN
NATIONAL BANK AND TRUST COMPANY OF CHICAGO, ILLINOIS, not personally but as
Trustee under Trust Agreement dated November 6, 1989 and known as Trust
Agreement 109810-09 ("Landlord"), and the Tenant identified immediately above
amends, restates and replaces the lease dated December 1, 1989 by and between
landlord and Tenant.

                          SCHEDULE OF SIGNIFICANT TERMS

     For purposes of this Lease, the terms set forth below shall have the
meanings or be assigned the amounts as follows:

Date of Lease:                        December 1, 1989

Base Rent (annual amount)             As set forth in Section S.3 of the
and Monthly Base Rent:                Supplemental Provisions

Commencement Date:                    Within sixty (60) days after substantial
                                      completion of Shell and Core or upon
                                      occupancy or possession of the Premises by
                                      Tenant whichever is sooner, but in no
                                      event later than December 3, 1991.

Expiration Date:                      The last day of the 180th month after the
                                      Commencement Date, subject to the
                                      provisions of Section S.4 of the Lease, or
                                      such earlier date as this Lease is
                                      terminated as provided herein.

Building:                             The improvements commonly known as Three
                                      Overlook Point, Lincolnshire Corporate
                                      Center, Lincolnshire, Illinois. The
                                      Building is to be constructed on the land
                                      described in Rider C attached hereto and
                                      incorporated herein by reference and shall
                                      be a five-story office building and
                                      basement containing approximately 290,143
                                      square feet of net rentable area and a two
                                      level parking structure.

Premises:                             The entire premises of the Building.

                                      -2-

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Tenant's Proportionate Share:         100

Base CPI Amount:                      $  -0-

Expense Stop Amount:                  $  -0-

Tax Stop Amount:                      $  -0-

CPI Adjustment Dates:                 N/A

Initial CPI Adjustment Date:          N/A

Additional CPI Adjustment             N/A
Date(s):

Security Deposit:                     None

Parking Spaces:                       1,015, but not less than all spaces
                                      constructed on the Real Property.

Broker:                               Van Vlissingen and Co.

                                      __________________________________________

Tenant's Address for Notices:         Hewitt Associates
                                      100 Half Day Road
                                      Lincolnshire, Illinois 60069

Tenant's Authorized Representative:   Mr. Jerry R. Westwood

Guarantor (if any):                   None

Attachments to Lease (check if applicable):

       Guaranty                       ____

       Workletter                       X
                                      ----
       Attachment(s) to Workletter    ____
       Rider A:                         X      (Rules and Regulations)
                                      ----
       Rider B:                         X      (Cleaning Schedule)
                                      ----
       Rider C:                         X      (Land Description)
                                      ----

                                      -3-

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       Rider D:                         X      (First Year of Annual
                                      ----     Base Rent Calculation)

       Rider E:                         X      Proposed Budget
                                      ----

                                      -4-

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                             SUPPLEMENTAL PROVISIONS

S.1      Identification.

         Landlord grants to Tenant the right to display up to three (3) ground
mounted signs on the grounds of the Building, indicating its occupancy in the
Building. The precise design, size, contents and location of such signage shall
be in accordance with the Lincolnshire Corporate Center signage criteria and
shall be subject to the approval of Landlord (which approval shall not be
unreasonably withheld or delayed) and the approval of the Village of
Lincolnshire. The cost of signage, as well as the cost of installation and
ultimate removal, shall be the sole responsibility of Tenant.

S.2      Recording.

         Landlord and Tenant agree that they will jointly execute, concurrently
with the execution of this Lease, a short form Memorandum of Lease. Tenant shall
have the right to record such short form Memorandum of Lease at Tenant's
expense. Upon expiration or termination of this Lease, Tenant shall execute,
acknowledge and deliver to Landlord for recording those documents necessary or
appropriate to evidence termination of the Lease in such form as reasonably
requested by Landlord, Landlord's lender or the title company to insure the
validity of such termination and in the event Tenant fails to promptly execute
the necessary or appropriate documentation to evidence termination of the Lease,
an affidavit of Landlord, Landlord's beneficiary or Landlord's managing agent
shall be sufficient to evidence termination of the Lease.

S.3      Base Rent.

         The annual Base Rent which Tenant shall pay Landlord shall be
calculated by multiplying 1.20 times the annual debt service for the first year
of the permanent loan for the Building ("Permanent Loan"). The annual debt
service shall be deemed to include the interest and principal required to be
paid to the lender during the first year of the permanent loan for the Building.
An example of the method for calculation of the first year annual Base Rent is
shown on Rider D attached hereto. The annual Base Rent shall be payable in
twelve equal monthly installments ("Monthly Base Rent"). The annual Base Rent
for the first year of the Lease shall be confirmed by a separate written letter
from Landlord to Tenant within ten days after closing of the Permanent Loan. The
annual Base Rent shall be adjusted to increase two percent (2%) per year
beginning twelve (12) months after the Commencement Date. In no event shall the
annual Base Rent for the first year of the Lease be less than $2,796,000.00.

S.4      Lease Term Adjustment.

         Notwithstanding anything in this Lease to the contrary, in the event
Landlord receives an appraisal of the Building totaling less than
$31,000,000.00, exclusive of the value of Tenant Improvements (as defined in the
Workletter), at the time Landlord obtains permanent financing for the Building,
the Term of this Lease shall be the lesser of (i) fifteen (15) years and (ii)
the greater of (A) the maximum term that will allow Tenant to account for the
Lease as an operating lease under Generally Accepted Accounting Principles and
(B) twelve (12) years.

                                      -5-

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                                   WITNESSETH:

         Landlord hereby leases to Tenant, and Tenant hereby accepts the
Premises, for a term (herein called the "Term") commencing on the Commencement
Date and ending on the Expiration Date, paying as rent therefor the sums
hereinafter provided, without any setoff, abatement, counterclaim, or deduction
whatsoever, except as herein expressly provided.

         IN CONSIDERATION THEREOF, THE PARTIES HERETO COVENANT AND AGREE:

         1. Base Rent. Subject to periodic adjustment as hereinafter provided,
Tenant shall pay an annual base rent (herein called "Base Rent") to Landlord for
the Premises in the amount stipulated in the Schedule, payable in monthly
installments (herein called "Monthly Base Rent") in the amount stipulated in the
Schedule, in advance on the first day of the first full calendar month and on
the first day of each calendar month thereafter of the Term, and at the same
rate prorated for fractions of a month if the Term shall begin on any date
except the first day, or shall end on any day except the last day of a calendar
month. Base Rent, Additional Rent (as hereinafter defined), Additional Rent
Progress Payment (as hereinafter defined) and all other amounts becoming due
from Tenant to Landlord herein (herein collectively called the "Rent") shall be
paid in lawful money of the United States to One Overlook Point at its office as
designated in Section 26 hereof, or as otherwise designated from time to time by
written notice from Landlord to Tenant. The obligation to pay Rent hereunder is
independent of each and every other covenant and agreement contained in this
Lease.

         2. Additional Rent. In addition to paying the Base Rent specified in
Section 1 hereof, Tenant shall pay as additional rent the amounts determined in
accordance with the following provisions of this Section 2 (herein called
"Additional Rent"):

            (a) Definitions. As used in this Lease:

                   (i)   "Adjustment Date" shall mean the first day of the Term
            and each January 1 thereafter falling within the Term.

                   (ii)  "Adjustment Year" shall mean each calendar year during
            which an Adjustment Date falls.

                   (iii) "Expenses" shall mean and include those costs and
            expenses paid or incurred by Landlord in connection with the
            ownership, operation, management, and maintenance of the Building
            and the land on which the Building is situated in a manner deemed
            reasonable by Landlord and appropriate and for the best interests of
            the Building and the tenants in the Building, including, but not
            limited to, the following:

                         (A)  All costs and expenses directly related to the
                   Building and Land for operating and cleaning tenant, common
                   and public areas, for utilities, for the payment of salaries
                   and fringe benefits for personnel of the grade of building
                   manager and below, for removing snow, ice, and debris, and
                   costs of property damage for Shell and Core and Tenant

                                      -6-

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                     Improvements as defined in the attached Workletter,
                     liability, rent loss, and other insurance;

                            (B) All costs and expenses of replacing paving,
                     curbs, walkways, landscaping (including replanting and
                     replacing flowers and other plantings), common and public
                     parking and lighting facilities in the Building and the
                     areas immediately adjacent thereto, excepting dedicated
                     roadway improvements. At such time as the areas immediately
                     adjacent to the Building are used to service a building on
                     Lot 2 in the 15th Resubdivision of the Lincolnshire
                     Corporate Center the costs and expenses set forth in this
                     subparagraph (B which relate to those areas servicing both
                     buildings shall be allocated at the rate of 50% for each
                     building.

                            (C) Electricity for lighting the common and public
                     areas and for running the elevators and other building
                     equipment and systems, fuel and water used in heating,
                     ventilating, and air-conditioning of the Building and water
                     for drinking, lavatory and toilet purposes;

                            (D) Maintenance of mechanical and electrical
                     equipment, including heating, ventilating and
                     air-conditioning equipment in the Building, but excluding
                     capital expenditures (except as set forth in (H) below)
                     which under generally accepted accounting principles are
                     required to be capitalized;

                            (E) Window cleaning and janitor and cleaning
                     service, including janitor and cleaning equipment and
                     supplies for tenant, common and public areas;

                            (F) Maintenance of elevators, alarm, and security
                     systems, rest rooms, sprinklers, and plumbing systems,
                     lobbies, hallways, and other common and public areas of the
                     Building;

                            (G) A management fee for the managing agent of the
                     Building at actual cost not to exceed four percent (4%) of
                     Landlord's gross receipts from operation of the Building;

                            (H) The cost of any capital improvement made at any
                     time, whether before or after the Date of Lease, which
                     reduces some of the costs included within Expenses or which
                     is required under any governmental laws, regulations, or
                     ordinances which were not applicable to the Building at any
                     time prior to the Commencement Date, amortized on an annual
                     basis to the extent of the annual savings effected by such
                     capital improvement or equipment in accordance with
                     generally accepted accounting principles); and

                            (I) Legal and other professional expenses incurred
                     in respect of the operation, use, occupation, or
                     maintenance of the Building and in

                                      -7-

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                     seeking or obtaining reductions in and refunds of Taxes,
                     but excluding legal costs in leasing space, lease
                     terminations or incurred in disputes with tenants.

                            (J)  Common area maintenance and other costs
                     allocable to the Building under the Declarations of
                     Protective Covenants for Lincolnshire Corporate Center
                     (Unit III) and Lincolnshire Corporate Center applicable to
                     the Building.

                            (K)  Expenses shall not include the following: costs
                     or other items included within the meaning of the term
                     "Taxes" (as hereinafter defined); costs of capital
                     improvements to the Building (except as set forth in H
                     above); depreciation; expenses incurred in leasing or
                     procuring tenants (including, without limitation, lease
                     commissions, advertising expenses, and expenses of
                     renovating space for tenants); interest or amortization
                     payments on any mortgage or mortgages; rental under any
                     ground or underlying lease or leases; wages, salaries, or
                     other compensation paid to any executive employees above
                     the grade of building manager; wages, salaries, or other
                     compensation paid for clerks or attendants in concessions
                     or newsstands operated by the Landlord; the cost of
                     correcting defects (latent or otherwise) which arise within
                     one (1) year after initial construction of the Building in
                     the construction of the Building, except that conditions
                     (not occasioned by construction defects) resulting from
                     ordinary wear and tear shall not be deemed defects; the
                     cost of installing, operating, and maintaining a specialty
                     improvement, including, without limitation, an observatory,
                     or broadcasting, cafeteria, or dining facility, or
                     athletic, luncheon, or recreational club; any cost or
                     expense representing an amount paid to a related entity
                     which is in excess of the amount which would be paid in the
                     absence of such relationship; and any expenditures for
                     which Landlord has been reimbursed (other than pursuant to
                     rent adjustment, escalation, or additional rent provisions
                     in leases).

                     Notwithstanding the foregoing provisions of this Section
                     2(a)(iii), for any Adjustment Year in which the aggregate
                     usable office space of the Building has not been one
                     hundred percent (100%) occupied during the entire
                     Adjustment Year, Expenses shall include any expenses which
                     Landlord shall reasonably determine would have been
                     incurred had the Building been one hundred percent (100%)
                     occupied.

                     (iv)   "Taxes" shall mean all real estate taxes,
               assessments (whether they be general or special), sewer rents,
               rates and charges, transit taxes, taxes based upon the receipt of
               rent, and any other federal, state or local governmental charge,
               general, special, ordinary or extraordinary (but not including
               income or franchise taxes (other than personal property
               replacement income taxes) or any other taxes imposed upon or
               measured by Landlord's income or profits, unless the same shall
               be imposed in lieu of the real estate taxes or other ad valorem
               taxes), which may

                                      -8-

<PAGE>

               now or hereafter be levied, imposed or assessed against the
               Building or the land on which the Building is located (the
               "Land"), or both. The Building and the Land are herein;
               collectively called the "Real Property."

               Notwithstanding the foregoing provisions of this Section
               2(a)(iv):

                            (A)  If at any time during the Term of this Lease
                     the method of taxation then prevailing shall be altered so
                     that any new tax, assessment, levy, imposition or charge or
                     any part thereof shall be imposed upon Landlord in addition
                     to, or in place or partly in place of any such Taxes, or
                     contemplated increase therein, and shall be measured by or
                     be based in whole or in part upon the Real Property or the
                     rents or other income therefrom, then all such new taxes,
                     assessments, levies, impositions or charges or part
                     thereof, to the extent that they are so measured or based,
                     shall be included in Taxes levied, imposed, or assessed
                     against real property to the extent that such items would
                     be payable if the Real Property were the only property of
                     Landlord subject thereto and the income received by
                     Landlord from the Real Property were the only income of
                     Landlord.

                            (B)  Notwithstanding the year for which any such
                     taxes or assessments are levied, (i) in the case of special
                     taxes or special assessments which may be payable in
                     installments, the amount of each installment, plus any
                     interest payable thereon (but not including penalty
                     interest), paid during a calendar year shall be included in
                     Taxes for that year and (ii) if any taxes or assessments
                     payable during any calendar year shall be computed with
                     respect to a period in excess of twelve; calendar months,
                     but not to exceed thirteen calendar months, then taxes or
                     assessments applicable to the excess period shall be
                     included in Taxes for that year. Except as provided in the
                     preceding sentence, for purposes of this Section 2, all
                     references to Taxes "for" a particular year shall be deemed
                     to refer to taxes levied, assessed or otherwise imposed for
                     such year without regard to when such taxes are payable.

                            (C)  Taxes shall also include any personal property
                     taxes (attributable to the calendar year in which paid)
                     imposed upon the furniture, fixtures, machinery, equipment,
                     apparatus, systems and appurtenances used in connection
                     with the Real Property or the operation thereof and located
                     at the Building.

                     (v)    "Tenant's Proportionate Share" shall mean the
               percentage stipulated in the Schedule which is the percentage
               obtained by dividing the Rentable Area of the Premises by the
               Rentable Area of the Building.

                     (vi)   "Additional Rent" shall mean all amounts determined
               pursuant to this Section 2, including any amounts payable by
               Tenant to Landlord on account thereof.

                                      -9-

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              (b)    Computation of Additional Rent. Tenant shall pay
     Additional Rent for each Adjustment Year determined as hereinafter set
     forth. Additional Rent payable by Tenant with respect to each Adjustment
     Year during which an Adjustment Date falls shall include the following
     amounts:

                     (i)   the amount by which Tenant's Proportionate Share,
              multiplied by the Expenses for such Adjustment Year exceeds the
              Expense Stop Amount stipulated in the Schedule (said excess being
              called the "Expense Adjustment"); plus

                     (ii)  the amount by which Tenant's Proportionate Share,
              multiplied by the Taxes for such Adjustment Year exceeds the Tax
              Stop Amount stipulated in the Schedule (said excess being called
              the "Tax Adjustment").

              (c)    Payments of Additional Rent; Projections. Tenant shall pay
     Additional Rent to Landlord in the manner hereinafter provided.

                     (i)   Expense Adjustment and Tax Adjustment. Tenant shall
              make payments on account of the Expense Adjustment and Tax
              Adjustment (the aggregate of such payments with respect to any
              Adjustment Year being called "Additional Rent Progress Payment")
              effective as of the Adjustment Date for each Adjustment Year as
              follows:

                           (A)    Landlord may, prior to each Adjustment Date or
                     from time to time during the Adjustment Year in which such
                     Adjustment Date falls, deliver to Tenant a written notice
                     or notices ("Projection Notice") setting forth (1)
                     Landlord's reasonable estimates, forecasts or projections
                     (collectively, the "Projections") of Taxes and Expenses for
                     such Adjustment Year based on Landlord's budgets of
                     Expenses and estimate of Taxes, and (2) Tenant's Additional
                     Rent Progress Payment with respect to each component of
                     Additional Rent (other than CPI Adjustment) for such
                     Adjustment Year based upon the Projections. Landlord's
                     budgets of Expenses and the Projections based thereon shall
                     assume full occupancy and use of the Building and may be
                     revised by Landlord from time to time based on changes in
                     rates and other criteria which are components of budget
                     items.

                           (B)    Until such time as Landlord  furnishes a
                     Projection Notice for an Adjustment Year, Tenant shall, at
                     the time of each payment of Monthly Base Rent, pay to the
                     Landlord a monthly installment of Additional Rent Progress
                     a Payment with respect to each component of Additional Rent
                     (other than CPI Adjustment) equal to the greater of the
                     latest monthly installment of Additional Rent Progress
                     Payment or one-twelfth (1/12) of Tenant's latest determined
                     Expense Adjustment and Tax Adjustment. On or before the
                     first day of the next calendar month following Landlord's
                     service of a Projection Notice, and on or before the first
                     day of each month thereafter, Tenant shall pay to Landlord
                     one-

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                     twelfth (1/12) of the Additional Rent Progress Payments
                     shown in the Projection Notice. Within fifteen (15) days
                     following Landlord's service of a Projection Notice, Tenant
                     shall also pay Landlord a lump sum equal to the Additional
                     Rent Progress Payment shown in the Projection Notice less
                     (1) any previous payments on account of Additional Rent
                     Progress Payment made during such Adjustment Year and (2)
                     monthly installments on account of Additional Rent Progress
                     Payment due for the remainder of such Adjustment Year.

              (d)    Readjustments. The following readjustments with regard to
       the Tax Adjustment and Expense Adjustment shall be made by Landlord and
       Tenant:

                     (i)   Following the end of each Adjustment Year and after
              the Landlord shall have determined the amounts of Expenses to be
              used in calculating the Expense Adjustment for such Adjustment
              Year, Landlord shall notify Tenant in writing ("Landlord's
              Statement") of such Expenses for such Adjustment Year. If the
              Expense Adjustment owed for such Adjustment Year exceeds the
              Expense Adjustment component of the Additional Rent Progress
              Payment paid by Tenant during such Adjustment Year, then Tenant
              shall, within thirty (30) days after the date of Landlord's
              Statement, pay to Landlord an amount equal to the excess of the
              Expense Adjustment over the Expense Adjustment component of the
              Additional Progress Payment paid by Tenant during such Adjustment
              Year. If the Expense Adjustment component of the Additional Rent
              Progress Payment paid by Tenant during such Adjustment Year
              exceeds the Expense Adjustment owed for such Adjustment Year, then
              Landlord shall credit such excess to Rent payable after the date
              of Landlord's Statement, or may, at its option, credit such excess
              to any Rent then due and owing, until such excess has been
              exhausted. If the Expiration Date shall occur prior to full
              application of such excess, Landlord shall pay to Tenant the
              balance thereof not theretofore applied against Rent and not
              reasonably required for payment of Additional Rent for the
              Adjustment Year in which the Expiration Date occurs. Landlord's
              statements shall be prepared by a certified public accountant.
              Once Landlord's statement is accepted by Tenant, it shall be final
              and binding on Landlord and Tenant, subject to Tenant's right to
              challenge a Landlord's Statement pursuant to the terms of Section
              2 herein.

                     (ii)  Following the end of each  Adjustment Year and after
              Landlord shall have determined the actual amounts of Taxes to be
              used in calculating the Tax Adjustment for such Adjustment Year,
              Landlord shall notify Tenant in writing ("Landlord's Statement")
              of such Taxes for such Adjustment Year. If the Tax Adjustment owed
              for such Adjustment Year exceeds the Tax Adjustment component of
              the Additional Rent Progress Payment paid by Tenant during such
              Adjustment Year, then Tenant shall, within thirty (30) days after
              the date of Landlord's Statement, pay to Landlord an amount equal
              to the excess of the Tax Adjustment over the Tax Adjustment
              component of the Additional Rent Progress Payment paid by Tenant
              during such Adjustment Year. If the Tax Adjustment component of
              the Additional Rent Progress Payment paid by Tenant during such
              Adjustment Year exceeds the Tax Adjustment owed for such
              Adjustment Year,

                                      -11-

<PAGE>

              then Landlord shall credit such excess to Rent payable after the
              date of Landlord's Statement, or may, at its election, credit such
              excess to any Rent then due and owing, until such excess has been
              exhausted. If the Expiration Date shall occur prior to full
              application of such excess, Landlord shall pay to Tenant the
              balance thereof not theretofore applied against Rent and not
              reasonably required for payment of Additional Rent for the
              Adjustment Year in which the Expiration a Date occurs.

                     (iii) No interest or penalties shall accrue on any amounts
              which Landlord is obligated to credit or pay to Tenant by reason
              of this Section 2(d).

                     (iv)  Tenant may, by timely written notice to Landlord,
              request Landlord to commence appropriate proceedings to challenge
              the amount of the assessed value of the Building, the real estate
              taxes and/or computational errors paid with respect to the
              Building. Landlord may, at its option, either institute such
              proceeding for the benefit of itself and all tenants within the
              Building, or agree to execute and deliver to Tenant whatever
              documents may be necessary or proper to permit Tenant to so
              contest the amount of any such assessed value and/or taxes,
              provided any such proceeding is conducted at Tenant's sole
              expense. If such contest results in a reduction in the assessed
              value of the Building, Tenant or Landlord, as the case may be,
              shall be entitled to recover its actual out-of-pocket costs and
              expenses incurred in pursuing such refund or reduction from any
              award of costs and fees made in such proceeding and from the
              refund of any tax previously paid during the tax year challenged.
              In the event the assessed value of the Building is increased by
              reason of a challenge initiated by Tenant and elected not to be
              pursued by Landlord, all taxes arising by reason of such increase
              in valuation shall be allocated to Tenant and paid by Tenant as
              its sole responsibility.

              (e)    Books and Records. Landlord shall maintain books and
       records showing Expenses and Taxes in accordance with generally accepted
       accounting principles. Tenant or its representative shall have the right
       to examine Landlord's books and records showing Expenses and Taxes upon
       reasonable prior notice and during normal business hours at any time
       within forty-five (45) days following the furnishing by the Landlord to
       the Tenant of Landlord's Statement provided for in Section 2(d). Unless
       the Tenant shall take written exception to any item within sixty (60)
       days after the furnishing of the Landlord's Statement containing said
       item, such Landlord's Statement shall be considered as final and accepted
       by the Tenant and Landlord. If Tenant takes exception to any item in
       Landlord's Statement within the applicable time period and if Landlord
       and Tenant are unable to agree on the correctness of said item, then
       either party may refer the decision of said issue to a reputable firm of
       independent certified public accountants designated by Landlord and the
       decision of said accountants shall be conclusively binding on the
       parties. The party required to make payment under such adjustment shall
       pay all fees and expenses involved in such decision unless the payment
       represents five percent (5%) or less of the Expense Adjustment shown on
       Landlord's Statement, in which case Tenant shall bear all such fees and
       expenses.

                                      -12-

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     (f)  Proration and Survival. With respect to any Adjustment Year which does
not fall entirely within the term, Tenant shall be obligated to pay as
Additional Rent for such adjustment year only a pro rata share of Additional
Rent as hereinabove determined, based upon the number of days of the Term
falling within the Adjustment Year. Following expiration or termination of this
Lease, Tenant shall pay any Additional Rent due to the Landlord within thirty
(30) days after the receipt of Landlord's Statement sent to Tenant. Without
limitation on other obligations of Tenant which shall survive the expiration of
the Term, the obligations of Tenant to pay Additional Rent provided for in this
Section 2 shall survive the expiration or termination of this Lease.

     (g)  No Decrease in Base Rent. In no event shall any Additional Rent result
in a decrease of the Base Rent payable hereunder as set forth in Section 1
hereof.

     (h)  Additional Rent. All amounts payable by Tenant as or on account of
Additional Rent shall be deemed to be additional rent becoming due under this
Lease.

     (i)  Adjustment of Tenant's Proportionate Share. If at any time in the
future the number of rentable square feet of office space in the Building is
reduced, by reason of change in the Building structure or by reason of the
separation of ownership of a portion of the Building by a device such as
vertical subdivision or submission of the Building to a condominium form of
ownership, with the result that Tenant's Proportionate Share no longer reflects
the percentage of office space in the Building for which Landlord is responsible
for Taxes and Expenses, then Landlord shall be entitled to make an equitable
adjustment in Tenant's Proportionate Share to reflect the change in such
circumstances. An amendment, executed by Landlord and Tenant, reflecting such
change shall be attached to this Lease.

3.   Use of Premises.

     (a)  Landlord warrants that (i) the Premises are zoned and approved for
general office purposes and purposes incident thereto and (ii) will request the
appropriate authorities to issue a conditional Certificate of Occupancy or a
Final Inspection Report allowing use of the Premises for the purposes permitted
under this Section 3(a) of this Lease. Landlord shall deliver to Tenant a copy
of the conditional Certificate of Occupancy for the Building and for the
Premises and the Final Certificate of Occupancy upon issuance.

     (b)  Landlord agrees that the use of the Premises Tenant for the following
specific purposes ("Additional Purposes") is permitted under this Lease,
provided Tenant obtains and maintains all applicable governmental licenses and
permits for such purposes:

          (i)   Computer processing;

          (ii)  Training for Tenant's employees and for non-employees of Tenant;

          (iii) Kitchen and cafeteria for the use of Tenant, Tenant's employees
     and Tenant's guests in that area designated for cafeteria equipment and
     use; and

                                      -13-

<PAGE>

          (iv)  Printing for Tenant and Tenant's clients including photographic,
     multilith, or multigraph reproductions or offset printing in that area
     designated for such equipment and use.

     (c)  Tenant shall use and occupy the Premises for Tenant's executive and
general offices and for such related purposes as are described in subsection (b)
of this Section 3 and for no other purpose. For the purposes of this Section 3,
Tenant shall be deemed to include Tenant's permitted subtenants, assigns, and
occupants.

     (d)  Landlord agrees that, in connection with and incidental to Tenant's
use of the Premises for the office purposes set forth in subsection (a) of this
Section 3, provided Tenant, at Tenant's sole cost and expense, obtains any
special amendments to the certificate of occupancy for the Premises and any
other permits required by any governmental authority having jurisdiction
thereof, if any, Tenant may use portions of the Premises for (i) the preparation
and service of food and beverages from a full service kitchen with service area
(which food and beverages may be delivered to other locations of Tenant outside
of the Premises), pantry kitchens, coffee stations or lounges all for the
exclusive use by, Tenant, its employees and business guests of Tenant (but not
for use as a public restaurant or by other tenants of the Building), (ii) the
operation of vending machines for the exclusive use of Tenant, its employees and
business guests of Tenant, provided that each vending machine, where necessary,
shall have a waterproof pan thereunder and be connected to a drain, and (iii)
the installation, maintenance and operation of electronic data processing
equipment, computer processing facilities and business machines, provided that
such equipment is contained within the Premises and does not cause vibrations,
noise, electrical interference or other disturbance to other tenants of the
Building or the elevators or other equipment in the Building. With respect to
any use permitted under this Section 3, any such use shall not violate any laws
or requirements of public authorities, constitute a public or private nuisance,
interfere with or cause physical discomfort to any of the other tenants or
occupants of the Building, interfere with the operation of the Building or the
maintenance of same as a first-class office building, or violate any of Tenant's
other obligations under this Lease.

     (e)  Anything contained herein any part herein to the contrary
notwithstanding, Tenant shall not use the Premises or any part thereof, or
permit the Premises or any part thereof to be used, (i) for the business of
photographic, multilith, or multigraph reproductions or offset printing, unless
used in connection with either directly or indirectly, its own business or
activities, (ii) for a retail banking, trust company, depository, guarantee, or
safe deposit business open to the general public, so long as such a business
exists or is operated in the Building by another tenant, (iii) as a savings
bank, a savings and loan association, or as a loan company open to the general
public, so long as such a business exists or is operated in the Building by
another tenant, (iv) for the sale to the general public of travelers checks,
money orders, drafts, foreign exchange or letters of credit or for the receipt
of money for transmission, so long as such a business exists or is operated in
the Building by another tenant, (v) as a stock broker's or dealer's office or
for the underwriting or sale of securities open to the general public, so long
as such a business exists or is operated in the Building another tenant, (vi)
except as provided in subsection (b) of this Section 3, as a restaurant or bar
or for the sale of confectionery,

                                      -14-

<PAGE>

     soda, beverages, sandwiches, ice cream, or baked goods or for the
     preparation, dispensing, or consumption of food or beverages in any manner
     whatsoever, (vii) as a news or cigar stand, (viii) as an employment agency,
     labor union office, physician's or dentist's office, dance, or music studio
     (except for exercise classes which may be conducted after business hours on
     a portion of the Premises where Tenant occupies the floor below and
     adjacent to the location of such classes), school (except for the training
     of employees of Tenant), (ix) as a retail travel agency, or (x) as a barber
     shop or beauty salon.

          (f)   Landlord covenants and warrants that applicable zoning and
     health ordinances and regulations permit the use of a portion of the
     Premises for a company sponsored food service facility provided such
     facility is at all times incidental to use of the Premises for general
     office purposes and provided that such facility meets the standards of such
     zoning and health ordinances and regulations.

     4.   [Intentionally Omitted]

     5.   Delivery of Possession.

          (a)   If the Landlord shall be unable to give possession of the
     Premises on the Commencement Date set forth in the Schedule of Significant
     Terms for any reason, Landlord shall not be subject to any liability for
     failure to give possession. No such failure to give possession on the
     Commencement Date shall affect either the validity of this Lease or the
     obligations of the Tenant or Landlord hereunder, and the same shall not be
     construed to extend the Term.

          (b)   For purposes of this Lease and the Workletter attached hereto,
     if any, the Premises shall be deemed ready or available for Tenant's
     occupancy or possession, and any work to be performed by Landlord shall be
     deemed substantially complete when only minor or insubstantial details of
     construction, decoration, or mechanical adjustments which do not adversely
     affect Tenant's use of the Premises remain to be done in the Premises or
     any part thereof. In the event of any dispute as to whether the Premises
     are ready for Tenant's occupancy or Landlord's work is substantially
     complete, the decision of landlord's architects shall be final and binding
     on the parties.

     6.   Alterations. Tenant shall not, without the prior written consent,
which consent shall not be unreasonably withheld, of Landlord in each instance,
make any alterations, improvements, or additions to the Premises. Landlord shall
not grant such consent until Landlord has had an opportunity to review Tenant's
plans and specifications for such alterations, improvements, or additions. If
Landlord consents to said alterations, improvements, or additions, it may impose
such conditions with respect thereto as Landlord deems appropriate, including,
without limitation, insurance against liabilities which may arise out of such
work, revisions to the plans and specifications for such work and permits
necessary for such work. The work necessary to make any alterations,
improvements, or additions to the Premises shall be done at Tenant's expense by
employees of, or contractors hired by, Landlord, except to the extent Landlord
gives its prior written consent to Tenant's hiring contractors. Notwithstanding
the foregoing, Tenant may hire its own contractors to install mill work,
telecommunications equipment and food

                                      -15-

<PAGE>

service equipment in the Premises. Tenant shall promptly pay to Landlord or to
Tenant's contractors, as the case may be, when due, the cost of all such work
and of all decorating required by reason thereof. Tenant will also pay to
Landlord an amount equal to five percent (5%) of all of the costs of such work
to reimburse Landlord for its overhead and construction management services
allocable to such work and all out-of-pocket costs incurred by Landlord in
reviewing plans and specifications for said alterations, improvements or
additions. Upon completion, Tenant shall deliver to Landlord, if payment is made
directly to contractors, evidence of payment, contractors' affidavits and full
and final waivers of all liens for labor, services or materials. Tenant shall
defend and hold Landlord and the holder of any legal or beneficial interest in
the land or Building harmless from all costs, damages, liens, and expenses
related to such work. All work done by Tenant or its contractors pursuant to
Sections 6 or 11 hereof shall be done in a first-class workmanlike manner using
only good grades of materials and shall comply with all insurance requirements
and all applicable laws and ordinances and rules and regulations of governmental
departments or agencies and the rules and regulations adopted by the Landlord
for the Building. Within thirty (30) days after substantial completion of any
such work by Tenant or its contractors, Tenant shall furnish to Landlord "as
built" drawings of such work. Landlord agrees that Tenant shall not be required
to remove any alteration, improvement or addition made to the Premises in
compliance with this Section 6 unless Landlord has advised Tenant in writing
prior to installation of such alteration, improvement or addition that
Landlord's consent to such installation is conditioned upon Tenant's agreement
to remove same upon expiration or termination of the Lease.

     7.   Services.

          (a)   The Landlord, as long as the Tenant is not in default under any
     of the covenants of this Lease, shall furnish:

                (i)    Air-conditioning, and heat and ventilation when
          necessary to provide a temperature condition required, in Landlord's
          judgment, for comfortable occupancy of the Premises under normal
          business operations, daily from 8:00 a.m. to 6:00 p.m. (Saturdays 8:00
          a.m. to 1:00 p.m.), Sundays and holidays (as hereinafter defined)
          excepted. The term "holidays" as used herein shall mean New Year's
          Day, Memorial Day, Independence Day, Labor Day, Thanksgiving Day and
          Christmas Day. Landlord's agreements hereunder are subject to
          Presidential and governmental restrictions on energy use.

                (ii)   Cold water in common with other tenants from Village of
          Lincolnshire mains for drinking, lavatory, cooking, and toilet
          purposes drawn through fixtures installed by the Landlord, or by
          Tenant in the Premises with Landlord's written consent, and hot water
          in common with other tenants for lavatory purposes from regular
          Building supply. Tenant shall pay Landlord as additional rent at rates
          fixed by Landlord for water furnished for any other purpose. Tenant
          shall pay Landlord the cost of any meters or submeters installed to
          measure Tenant's water usage for such other purposes. The Tenant shall
          not waste or permit the waste of water.

                                      -16-

<PAGE>

                (iii)  Janitor service and customary cleaning provided nightly
          in and about the Premises, Saturdays, Sundays, and holidays excepted,
          in accordance with the cleaning schedule attached hereto as Rider B.
          The Tenant shall not provide any janitor services or cleaning without
          the Landlord's written consent, and then only subject to supervision
          of Landlord and at Tenant's sole responsibility and cost (and without
          compensation to Tenant or reduction in Rent) and by a janitor or
          cleaning contractor or employees at all times satisfactory to
          Landlord. Notwithstanding the foregoing, in the event Tenant
          reasonably objects to the service performed by Landlord's cleaning
          contractor, Landlord agrees to replace such contractor with a
          contractor selected by Landlord.

                (iv)   Passenger elevator service in common with Landlord, and
          freight elevator service in common with Landlord shall be available to
          Tenant 24 hours per day, seven days per week, 52 weeks per year so
          longs as Tenant is the sole Tenant of the Building. At such time as
          Tenant assigns or subleases any portion of the Premises, passenger
          elevator and freight elevator service to Tenant may be limited as is
          deemed necessary in the sole discretion of Landlord to service other
          tenants, so long as at least one (1) passenger elevator shall be
          available to Tenant twenty-four (24) hours per days, seven (7) days
          per week fifty-two (52) weeks per year. Tenant shall have access to
          the Premises at all times subject to compliance with Landlord's rules
          and regulations adopted for security purposes. Operatorless automatic
          elevator service shall be deemed "elevator service" within the meaning
          of this paragraph.

                (v)    Electricity shall not be furnished by Landlord, but shall
          be furnished by an approved electric utility company serving the
          Building. Landlord shall permit the Tenant to receive such service
          direct from such utility company at Tenant's cost, and shall permit
          Landlord's wire and conduits, to the extent available, suitable, and
          safely capable, to be used for such purposes. Tenant shall make all
          necessary arrangements with the utility company for metering and
          paying for electric current furnished by it to Tenant and Tenant shall
          pay for all charges for electric current consumed on the Premises
          during Tenant's occupancy thereof. The electricity used during the
          performance of janitor service, the making of alterations or repairs
          in the Premises, the operation of the Buildings HVAC System at times
          other than as provided in Section 7(a)(i) or the operation of any
          special air conditioning systems which may be required for data
          processing equipment or for other special equipment or machinery
          installed by Tenant, shall be paid for by Tenant. Tenant shall make no
          alterations or additions to the electric equipment or appliances
          installed by Tenant without the prior written consent of the Landlord
          in each instance, which consent shall not be unreasonably withheld.
          Tenant also agrees to purchase from the Landlord or its agent at
          competitive prices all lamps, bulbs, ballasts, and starters used in
          the Premises during the Term hereof if such costs are lower than
          Tenant's costs, excluding Building standard items which will be
          purchased from Landlord. The electrical feeder or riser capacity
          serving the Premises on the Commencement Date shall be adequate to
          provide Building Standard electrical loads. Any additional feeders or
          risers to supply Tenant's additional electrical requirements, and all
          other equipment proper

                                      -17-

<PAGE>

          and necessary in connection with such feeders or risers, shall be
          installed by Landlord upon Tenant's request, at the sole cost and
          expense of Tenant, provided that, in Landlord's judgment, such
          additional feeders or risers are necessary and are permissible under
          applicable laws and insurance regulations and the installation of such
          feeders or risers will not cause permanent damage or injury to the
          Building or the Premises or cause or create a dangerous or hazardous
          condition or entail excessive or unreasonable alterations or interfere
          with or disturb other tenants or occupants or the Building. Tenant
          covenants and agrees that at all times its use of electric current
          shall never exceed the capacity of the feeders to the Building or the
          risers or wiring installed thereon.

                (vi)     Landlord shall cause the Building and adjacent
          walkways and parking areas to be maintained in operating condition and
          reasonably free from debris, snow, and ice consistent with the
          operation of a first-class office building in the North Suburban
          Chicago area.

                (vii)    Landlord shall provide such extra or additional
          services as it is reasonably possible for the Landlord to provide, as
          may be necessary for Tenant's Additional Purposes or as the Tenant may
          from time to time request, within a reasonable period after the time
          such extra or additional services are requested. Tenant shall, for
          such extra or additional services, pay at Landlord's scheduled rates
          therefor; such amount to be considered additional rent hereunder. All
          charges for such extra or additional services shall be due and payable
          within 30 days of receipt of Landlord's invoice. Any such billings for
          extra or additional services shall include an itemization of the extra
          or additional services rendered, and the charge for each such service.
          Landlord's applicable schedule of charge rates for certain extra or
          additional services will be published from time to time by Landlord
          and made available to tenant at its request. Such schedule shall be
          subject to change during the Term from time to time. If such
          additional services shall be recurring, Landlord shall provide Tenant
          with an initial invoice and thereafter, the cost of such service shall
          be paid monthly by Tenant as additional rent hereunder.

                (viii)   Tenant shall make all necessary arrangements with the
          utility company for bringing natural gas to the Building and paying
          for gas furnished by such utility company to Tenant and Tenant shall
          pay for all charges for gas consumed on the Premises during Tenant's
          occupancy thereof. In addition to uses required by Tenant, the gas
          shall be available to supply hot water to the Building. At such time
          as an additional tenant takes possession of any portion of the
          Premises, Tenant shall pay for the, installation of an additional
          meter in the Building for the natural gas to separate the gas service
          for the kitchen facilities of Tenant from the Building. Tenant shall
          make no alterations or additions to the natural gas equipment or
          appliances installed by Tenant without the prior written consent of
          the Landlord in each instance, which consent shall not be unreasonably
          withheld. Any equipment, feeders or risers necessary to bring natural
          gas to the Building and to the Premises to supply Tenant's gas
          requirements and as required for hot water to the Building, and all
          other equipment proper and necessary in

                                      -18-

<PAGE>

          connection with such feeders or risers, shall be installed by Landlord
          upon Tenant's request, at the sole cost and expense of Tenant,
          provided that, in Landlord's judgment, if bringing natural gas to the
          Building and to the Premises will cause permanent damage or injury to
          the building or the Premises or cause or create a dangerous or
          hazardous condition or entail excessive or unreasonable alterations or
          interfere with or disturb other tenants or occupants of the Building,
          Landlord may prohibit such installation by Tenant. Tenant covenants
          and agrees that at all times, its use of natural gas shall never
          exceed the capacity of the equipment and conduit installed in the
          Building to permit the use of natural gas.

          (b)   Failure by Tenant to pay within 30 days of receipt of invoice
Landlord's proper charges for water (other than for drinking, lavatory, and
toilet purposes) or other services shall give Landlord, upon not less than ten
(10) business days' notice, the right to discontinue furnishing the services,
and no such discontinuance shall be deemed an eviction or disturbance of
Tenant's use of the Premises or render Landlord liable for damages or relieve
Tenant from performance of Tenant's obligations under this Lease.

          (c)   Except for Landlord's negligence, as provided herein, Tenant
agrees that Landlord and its beneficiaries and their agents shall not be liable
in damages, by abatement of Rent or otherwise, for failure to furnish or delay
in furnishing any service when such failure or delay is occasioned, in whole or
in part, by repairs, renewals, or improvements, by any strike, lockout, or other
labor trouble, by inability to secure electricity, gas, water, or other fuel at
the Building after reasonable effort so to do, by any accident or casualty
whatsoever, by the act or default of Tenant or other parties including without
limitation Tenant's failure to maintain the Premises in good condition and
repair, or by any cause beyond the reasonable control of Landlord; and such
failures or delays shall never be deemed to constitute an eviction or
disturbance of the Tenant's use and possession of the Premises or relieve the
Tenant from paying Rent or performing any of its obligations under this Lease.
Tenant shall notify Landlord if any service shall be stopped, whereupon Landlord
will proceed diligently to restore such service as soon as reasonably possible.
However, should all or a portion of the Premises be uninhabitable for normal
business operations by Tenant for longer than 72 hours as a result of Landlord's
negligence, rent shall abate on a per diem basis for that portion of the
Premises which Tenant is unable to occupy, from the date of such interruption
until the Premises are restored to a normal business operating condition.

          (d)   Tenant agrees to cooperate fully, at all times, with Landlord in
abiding by all reasonable regulations and requirements which Landlord may
prescribe for the proper functioning and protection of all utilities and
services reasonably necessary for the operation of the Premises and the
Building.

          (e)   Landlord, throughout the Term of this Lease, shall have free
access (with notice to Tenant during business hours if access is needed to
conference areas in the Premises except in the case of emergency) to any and all
mechanical installations, and Tenant agrees that there shall be no construction
of partitions or other obstructions which might interfere with the moving of or
the servicing of equipment of Landlord to or from the enclosures containing said
installations. Tenant further agrees that neither Tenant, nor

                                      -19-

<PAGE>

         its servants, employees, agents, visitors, licensees, or contractors
         shall at any time tamper with, adjust, or otherwise in any manner
         affect Landlord's mechanical installations.

               (f)   Tenant shall make arrangements directly with the telephone
         company servicing the Building for such telephone service in the
         Premises as may be desired by Tenant. If Tenant desires telegraphic,
         telephonic, burglar alarm, computer installations or signal service,
         (which service shall be installed and maintained at Tenant's sole
         expense), Landlord shall, upon request, direct where and how all
         connections and wiring for such service shall be introduced and run.
         Landlord additionally shall have the right to approve or disapprove all
         plans and specifications for such service prior to any installation and
         to refuse permission for such installation if Landlord determines same
         could adversely affect an existing system. In the absence of such
         directions, Tenant shall make no borings or cutting or install any
         wires or cables in or about the Premises and/or the Building.

         8.    Condition and Care of Premises.

               (a)   Tenant's taking possession of the Premises shall be
         conclusive evidence against Tenant, and upon said taking of possession
         Tenant shall execute an agreement with Landlord stating that the
         Premises were then in good order and satisfactory condition, except for
         any so-called "punchlist" items detailed in said agreement and latent
         defects attendant to Landlord's Work under any Workletter attached
         hereto and made a part hereof, and upon completion of any punch1ist
         items, Tenant shall also execute a supplement to said agreement
         accepting completion of the punch1ist items. No promises of the
         Landlord to alter, remodel, improve, repair, decorate, or clean the
         Premises or any part thereof have been made, and no representation
         respecting the condition of the Premises, the Building, or the Land,
         has been made to Tenant by or on behalf of Landlord except to the
         extent expressly set forth herein, or in the aforesaid Workletter. This
         Lease does not grant any rights to light or air over or about the
         property of Landlord.

               (b)   Except for any damage resulting from any wanton or
         negligent act of Landlord or its employees and agents, and subject to
         the provisions of Section 15 hereof, Tenant shall, at its own expense,
         keep the Premises in good repair and condition and shall promptly and
         adequately repair all damage to the Premises caused by Tenant or any of
         its employees, agents, or invitees, including replacing or repairing
         all damaged or broken glass, fixtures, and appurtenances resulting from
         any such damage, under the supervision and with the approval of
         Landlord and within any reasonable period of time specified by
         Landlord. Tenant's obligation to repair the Premises as described
         above, shall include but is not limited to, all electrical, plumbing
         and mechanical systems serving the Premises from the point said systems
         connect to the base building systems on each floor. If Tenant does not
         do so promptly and adequately, Landlord may, but need not, make such
         repairs and replacements and Tenant shall pay Landlord the cost thereof
         on demand. Tenant shall take special care to keep all areas of the
         Premises which are visible by or accessible to the public, such as
         elevator lobbies and corridors, in good order and appearance consistent
         with the high standards and quality of a first-class office building.
         Landlord shall keep, repair and maintain the following items in and
         about the Building in good order and repair at not less than the same
         general standards now or hereafter applicable to first-class
         non-institutional office buildings in the north suburban Chicago area
         and in conformity

                                      -20-

<PAGE>

         with all applicable laws, regulations, rules and ordinances: the
         structure, foundation, roof and exterior of the Building, the base
         Building heating, air conditioning, ventilating, plumbing, electrical
         and related systems, all supporting equipment and fixtures and the base
         Building stairways, elevators and other common areas. Landlord shall
         repair all damage to the common areas of the Building and, to the
         extent caused by the negligence, or intentional misconduct of Landlord,
         its agents or employees or Landlord's breach of this Lease, damage to
         the Premises caused by water, snow, frost, steam, excessive heat or
         cold, sewerage, gas, noise or the bursting or leaking of pipes. Any
         additional items installed in the Building or Premises by Landlord or
         Tenant after the date of this Lease shall be maintained by the party
         who purchases or installs such item. If any repairs are made necessary
         as a result of the act, neglect, fault of or omission of any duty by
         Tenant, its agents, servants, employees or invitees, Tenant shall pay
         to Landlord, as additional rent, the actual cost of such repairs.

               (c)   Whenever, in Landlord's opinion, Tenant's use or occupation
         of the Premises, including lighting, personnel, heat generating
         machines, or equipment, individually or cumulatively, causes the design
         loads for the system providing heat and air-cooling to be exceeded, to
         affect the temperature or humidity otherwise maintained by the heating,
         ventilating, and air conditioning system in the Premises or Building,
         Landlord may, but shall not be obligated to, temper such excess loads
         by installing supplementary heating or air-conditioning units in the
         Premises or elsewhere where necessary. In such event, the cost of such
         units and the expense of installation, including, without limitation,
         the cost of preparing working drawings and specifications, shall be
         paid by Tenant as additional rent within thirty (30) days after receipt
         of invoice therefor. Alternatively, Landlord may require Tenant to
         install such supplementary heating or air-conditioning unit at Tenant's
         sole expense. Landlord may operate and maintain any such supplementary
         units, but shall have no continuing obligation to do so or liability in
         connection therewith. The expense resulting from the operation and
         maintenance of any such supplementary heating or air conditioning
         units, including rent for space occupied by any supplementary heating
         or air conditioning units installed outside the Premises, shall be paid
         by Tenant to Landlord as additional rent at rates fixed by Landlord.
         Alternatively, Landlord may require Tenant to operate and maintain any
         such supplementary units, also at Tenant's sole expense.

         9.    Return of Premises.

               (a)   At the termination of this Lease by lapse of time or
         otherwise or upon termination of Tenant's right of possession without
         terminating this Lease, Tenant shall surrender possession of the
         Premises to Landlord and deliver all keys and access cards to the
         Building, the premises and the Building garage to Landlord and make
         known to the Landlord the combination of all locks of vaults then
         remaining in the Premises, and shall (subject to the provisions of
         Sections 9(b) and 9(c) below) return the Premises and all equipment and
         fixtures of the Landlord therein to Landlord in as good condition as
         when Tenant originally took possession, ordinary wear, loss or damage
         by fire or other insured casualty, damage resulting from the wanton or
         negligent act of Landlord or its employees and agents excepted, failing
         which Landlord may restore the Premises and such

                                      -21-

<PAGE>

         equipment and fixtures to such condition and Tenant shall pay the cost
         thereof to Landlord on demand.

               (b)    All installations, additions, partitions, hardware, light
         fixtures, supplementary heat or air-conditioning units, non-trade
         fixtures and improvements, temporary or permanent, including Tenant
         Improvements as defined in the Workletter, (except movable furniture,
         kitchen equipment, UPS systems, local HVAC units telephone systems,
         movable partitions and equipment belonging to Tenant), in or upon the
         Premises, whether placed there by Tenant or Landlord, shall be
         Landlord's property and shall remain upon the Premises, all without
         compensation, allowance or credit to Tenant; provided, however, that if
         Landlord directs that Tenant remove any of said items at the end of the
         Term, pursuant to Section 6(a) herein, then Tenant, at Tenant's sole
         cost and expense, shall promptly remove such of the installations,
         additions, partitions, hardware, light fixtures, non-trade fixtures,
         and improvements placed in the Premises by or on behalf of Tenant as
         are so designated by Landlord and repair any damage to the Premises
         caused by such removal, failing which Landlord may remove the same and
         repair the Premises and Tenant shall pay the cost thereof to Landlord
         on demand.

               (c)   Tenant shall leave in place any floor covering without
         compensation to Tenant. Tenant shall remove Tenant's furniture,
         machinery, safes, trade fixtures, and other items of movable personal
         property of every kind and description from the Premises prior to the
         expiration of the Term or ten (10) days following termination of this
         Lease or Tenant's right of possession, whichever might be earlier,
         failing which Landlord may do so and thereupon the provisions of
         Section 17(f) shall apply.

               (d)   All obligations of Tenant hereunder shall survive the
         expiration of the Term or sooner termination of this Lease.

         10.   Holding Over. The Tenant shall pay Landlord for each month (or
fraction thereof) Tenant retains possession of the Premises or any part thereof
after termination of this Lease, by lapse of time or otherwise, an amount which
is one and one half (1-1/2) times double the amount of rent for each month based
on the annual rate of Rent applicable under Sections 1 and 2 to the period in
which such possession occurs, and Tenant shall also pay all damages,
consequential as well as direct, sustained by Landlord by reason of such
retention. Nothing in this Section contained, however, shall be construed or
operate as a waiver of Landlord's right of re-entry or any other right of
Landlord.

         11.   Rules and Regulations. Tenant agrees to observe the rights
reserved to Landlord contained in Section 12 hereof and agrees, for itself, its
employees, agents, clients, customers, invitees and guests, to comply with the
rules and regulations set forth in Rider A attached to this Lease and made a
part hereof and such other. reasonable rules and regulations of which Tenant is
notified as shall be adopted by Landlord pursuant to Section 12(k) of this
Lease. Any violation by Tenant of any of the rules and regulations contained in
Rider A attached to this Lease or other Section of this Lease, or as may
hereafter be adopted by Landlord pursuant to Section 12(k) of this Lease, may be
restrained; but whether or not so restrained, Tenant acknowledges and agrees
that it shall be and remain liable for all damages, loss, costs and expense
resulting from any violation by the Tenant of any of said rules and regulations.
Nothing in this Lease contained

                                      -22-

<PAGE>

shall, be construed to impose upon Landlord any duty or obligation to enforce
said rules and regulations, or the terms, covenants and conditions of any other
lease against any other tenant or any other persons, and Landlord and its
beneficiary shall not be liable to Tenant for violation of the same by any other
tenant, its employees, agents, invitees, or by any other person.

         12.   Rights Reserved to Landlord. Landlord reserves the following
rights, exercisable without notice and without liability to Tenant for damage or
injury to property, person or business and without effecting an eviction or
disturbance of Tenant's use or possession or giving rise to any claim for setoff
or abatement of Rent or affecting any of Tenant's obligations under this Lease,
except, in the case of Landlord's negligence or willful misconduct:

               (a)   To change the name or street address of the Building with
         reasonable notice to Tenant, except that if Tenant is the sole tenant
         of the Premises, any such change shall not be made without the consent
         of Tenant which consent shall not be unreasonably withheld.

               (b)   To install and maintain signs on the exterior of the
         Building to install and maintain signs on the interior of the Building
         which relate to health and safety matters and if Tenant is not the sole
         tenant of the Premises, Landlord may install and maintain signs on the
         interior of the Building without notice to Tenant.

               (c)   In the event Tenant is not the sole tenant of the Premises,
         Landlord may prescribe the location and style of the suite number and
         identification sign or lettering for the Premises any floor partially
         occupied by the Tenant.

               (d)   To retain at all times, and to use in appropriate
         instances, pass keys to the Premises.

               (e)   To grant to anyone the right to conduct any business or
         render any service in the Building, so long as it is not the same as or
         similar to Tenant's business, which is a firm of consultants and
         actuaries specializing in design, financing, communication, and
         administration of employee benefits and compensation programs except
         with Tenant's prior written consent.

               (f)   To exhibit the Premises during the last twelve (12) months
         of the Term at reasonable hours, and to decorate, remodel, repair,
         alter, or otherwise prepare the Premises for reoccupancy at any time
         after Tenant vacates or abandons the Premises for forty-five (45)
         consecutive days and fails to pay any Rent due and owing.

               (g)   To enter the Premises at reasonable hours for reasonable
         purposes, including inspection and supplying janitor service or other
         service to be provided to Tenant hereunder without unreasonable
         interference to the ordinary course of Tenant's business.

               (h)   In the event Tenant is not the sole tenant of the Premises,
         Landlord may require all persons entering or leaving the Building
         during such hours as Landlord may from time to time reasonably
         determine to identify themselves to watchmen by registration or
         otherwise, and to establish their right to enter or leave in accordance
         with

                                      -23-

<PAGE>

         the provisions of applicable rules and regulations adopted by Landlord.
         Landlord shall not be liable in damages for any error with respect to
         admission to or eviction or exclusion from the Building of any person.
         In case of fire, invasion, insurrection, mob, riot, civil disorder,
         public excitement or other commotion, or threat thereof, Landlord
         reserves the right to limit or prevent access to the Building during
         the continuance of the same, shut down elevator service, activate
         elevator emergency controls, or otherwise take such action or
         preventive measures deemed necessary by Landlord for the safety of the
         tenants or other occupants of the Building or the protection of the
         Building and the property in the Building. Tenant agrees to cooperate
         in any reasonable safety program developed by Landlord.

               (i)   To control and prevent access to common areas and other
         non-general public areas pursuant to the provisions of applicable rules
         and regulations adopted by Landlord.

               (j)   Provided that reasonable access to the Premises shall be
         maintained and the business of Tenant shall not be interfered with or
         disrupted unreasonably, Landlord reserves the right to relocate,
         enlarge, reduce or change lobbies, exits or entrances in or to the
         Building and to decorate and to make, at its own expense, repairs,
         alterations, additions and improvements, structural or otherwise, in or
         to the Building or any part thereof, and any adjacent building, and,
         street or alley, including for the purpose of connection with or
         entrance into or use of the Building in conjunction with any adjoining
         or adjacent building or buildings, now existing or hereafter
         constructed, and may for such purposes erect scaffolding and other
         structures reasonably required by the character of the work to be
         performed, and during such operations may enter upon the Premises and
         take into and upon or through any part of the Building, including the
         Premises, all materials that may be required to make such repairs,
         alterations, improvements, or additions, and in that connection
         Landlord may temporarily close public entry ways, other public spaces,
         stairways or corridors and interrupt or temporarily suspend any
         services or facilities agreed to be furnished by Landlord, all without
         the same constituting an eviction of Tenant in whole or in part and
         without abatement of Rent by reason of loss or interruption of the
         business of Tenant or otherwise and, except for Landlord's negligence,
         without in any manner rendering Landlord liable for damages or
         relieving Tenant from performance of Tenant's obligations under this
         Lease. Landlord may at its option make any repairs, alterations,
         improvements and additions in and about the Building and the Premises
         during ordinary business hours and, if Tenant desires to have such work
         done during other than business hours, Tenant shall pay all overtime
         and additional expenses resulting therefrom. Notwithstanding anything
         to the contrary contained herein, so long as Tenant is the sole tenant
         of the Premises, Landlord shall not make alterations, additions and
         improvements, structural or otherwise in or to the Building for the
         purpose of connection with or entrance into or use of the Building in
         conjunction with any adjoining or adjacent building now existing or
         hereafter constructed without the consent of Tenant which consent shall
         not be unreasonably withheld.

               (k)   From time to time to make and adopt such reasonable rules
         and regulations, in addition to or other than or by way of amendment or
         modification of the rules and regulations contained in Rider A attached
         to this Lease or other Sections of this

                                      -24-

<PAGE>

         Lease, for the protection and welfare of the Building and its tenants
         and occupants, as the Landlord may determine.

         13.   Assignment and Subletting.

               (a)   Except as otherwise expressly provided herein, Tenant shall
         not, without the prior written consent of Landlord in each instance,
         (i) convey, mortgage, pledge, hypothecate, or encumber, or subject to
         or permit to exist upon or be subjected to any lien or charge, this
         Lease or any interest under it, (ii) allow to exist or occur any
         transfer of or lien upon this Lease or the Tenant's interest herein by
         operation of law, (iii) assign this Lease or any of Tenant's rights
         hereunder, (iv) sublet the Premises or any part thereof; or (v) permit
         the use or occupancy of the Premises or any part thereof for any
         purpose not provided for under Section 3 of this Lease or by anyone
         other than the Tenant and Tenant's employees. Landlord has the absolute
         right to withhold its consent, without giving any reason whatsoever,
         except as herein expressly provided to the contrary. The foregoing
         prohibitions shall also apply to any assignee or subtenant of Tenant.

               (b)   Prior to the Commencement Date, Tenant shall not assign
         this Lease or sublet all or any part of the Premises. If, after the
         Commencement Date, Tenant has procured an assignee or sublessee, Tenant
         shall, by written notice to Landlord, advise Landlord of its intention
         from, on and after a stated date (which shall not be less than thirty
         30 days after the date of Tenant's notice) to assign this Lease to such
         proposed assignee or sublet any part or all of the Premises to such
         proposed subtenant for the balance or any part of the Term. Upon
         receipt of such notice, Landlord shall have the right; to cancel for
         the balance of the Lease term the Lease in the case of a proposed
         assignment of this Lease or a proposed subleasing of all the Premises,
         or to cancel for the balance of the Lease term the Lease with respect
         to the portion to be so subleased by notice to Tenant in which latter
         event the Rent and Tenant's Proportionate Share and the number of
         parking spaces as defined herein shall be adjusted on the basis of the
         number of square feet of Rentable Area of the Premises retained by
         Tenant, and this Lease as so amended shall continue thereafter in full
         force and effect. If Landlord wishes to exercise such option to cancel,
         Landlord shall, within thirty (30) days after Landlord's receipt of
         such notice from Tenant, send to Tenant a notice so stating and in such
         notice Landlord shall specify the date as of which such cancellation is
         effective, which date shall be not less than fifteen (15) and not more
         than forty-five 45 days after the date on which Landlord sends such
         notice. Tenant's notice given pursuant to this Section 13(b) shall
         state the name and address of the proposed subtenant or assignee, and a
         true and complete copy of the proposed sublease or assignment and
         sufficient information to permit Landlord to determine the financial
         responsibility and character of the proposed subtenant or assignee
         shall be delivered to Landlord with said notice.

               (c)   If Landlord, upon receiving Tenant's notice given pursuant
         to Section 13(b), shall not exercise its right to cancel, Landlord will
         not unreasonably withhold its consent to Tenant's assignment of this
         Lease or subletting the space covered by its notice. In each case, such
         subletting or assignment shall also be subject to the following
         conditions:

                                      -25-

<PAGE>

                     (i)    Tenant is not in material default of the lease;

                     (ii)   Tenant has fully complied with the provisions of
               this Section 13;

                     (iii)  The assignee or subtenant is not a tenant of the
               Lincolnshire Corporate Center or a government (or subdivision or
               agency thereof);

                     (iv)   Tenant has furnished Landlord with copies of all
               documents relating to the sublease or assignment arrangement
               between Tenant and the proposed subtenant or assignee, including
               financial statements, if requested by Landlord;

                     (v)    The proposed sublease or proposed assignment does
               not extend for a term beyond the initial Term of this Lease, nor
               does the sublease or assignment contain any options to extend or
               renew the term thereof beyond the initial Term of this Lease;

                     (vi)   The subtenant or assignee is of a character or
               engaged in a business which is, and the subtenant's or assignee's
               proposed use of the Premises, or portions thereof, is consistent
               with the standards of Landlord for the Building and the use
               permitted hereunder;

                     (vii)  The space to be subleased and the remaining portion
               of the Premises are both legally leasable units and suitable for
               normal renting;

                     (viii) The assignee or subtenant is sufficiently
               financially responsible to perform its obligations under the
               sublease or assignment; and

                     (ix)   The intended use by or business of the proposed
               assignee or sublessee will not conflict with any commitment by
               Landlord to any other tenant in the Lincolnshire Corporate Center
               or Lincolnshire Corporater Center Unit III.

Landlord agrees to respond to Tenant's request for approval within thirty (30)
days after submission of all documents.

               (d)   Notwithstanding the provisions of subparagraphs (a), (b),
         and (c) above, landlord agrees that (1) as to an assignment or transfer
         by operation of law, Landlord shall have the right of consent pursuant
         to subparagraph (c) above, but shall not have the option to cancel the
         lease, provided such assignment or transfer is to a corporation which
         acquires substantially all of the assets of the Tenant; and (2) as to
         an assignment of the lease to a wholly-owned subsidiary of Tenant or an
         entity controlling, controlled by, or under common control with Tenant,
         Landlord shall not have the option to cancel nor shall Landlord have a
         right of consent.

               (e)   Consent by Landlord to any assignment, subletting, use, or
         occupancy or transfer shall not operate to relieve the Tenant from any
         covenant or obligation hereunder, including the primary responsibility
         to directly pay Landlord all Base Rent and Additional Rent due under
         the Lease, and shall not be deemed to be a consent to or

                                      -26-

<PAGE>

         relieve Tenant, or any subtenant or assignee, from obtaining Landlord's
         consent to any subsequent assignment, transfer, lien, charge,
         subletting, use, or occupancy.

                  (f)   If Tenant, having first obtained Landlord's consent to
         any sublease or assignment, or if Tenant or a trustee in bankruptcy for
         Tenant, pursuant to Section 365 of the Bankruptcy Code, shall assign
         this Lease or sublet the Premises, or any part thereof, then in
         addition to the Rent then payable hereunder, Tenant shall pay to
         Landlord, as further additional rent on the first day of each month
         during the term of any such assignment or sublease, fifty percent (50%)
         of the amount, if any, by which (x) the Assigned Area Rent exceeds (y)
         the product of the Current Monthly Rent multiplied by the Assigned
         Area. As used herein:

                        (i)  "Assigned Area" shall mean the number of square
                  feet of Rentable Area of the Premises (in the case of an
                  assignment or sublet of the entire Premises) or of the
                  Rentable Area of any space sublet by Tenant (in the case of a
                  sublet of less than the entire Premises).

                        (ii) "Current Monthly Rent" shall mean the aggregate
                  of all Monthly Base Rent and Additional Rent Progress Payments
                  being paid by Tenant as of the effective date of an assignment
                  or sublet, divided by the number of square feet of Rentable
                  Area of the Premises.

                  (iii) "Assigned Area Rent" shall mean the current monthly base
         rent and other amounts payable by the subtenant or assignee for the
         Assigned Area.

                  (g)   If Tenant is a partnership, any transaction or series of
         transactions (including without limitation any withdrawal or admittance
         of a partner or any change in any partners' interest in Tenant, whether
         voluntary, involuntary or by operation of law, or any combination of
         any of the foregoing transactions) resulting in the transfer of control
         of fifty percent (50%) or more of the ownership interest in Tenant,
         during any twelve (12) month period shall be deemed to be a transfer of
         Tenant's interest under this Lease for the purpose of Section 13. The
         term "control" as used in this Section 13(g) means the power to
         directly or indirectly direct or cause the direction of the management
         or policies of Tenant.

         14.      Waiver of Certain Claims; Indemnity by Tenant.

                  (a)   To the extent not expressly prohibited by law, Tenant
         releases Landlord and its beneficiaries, and their agents, servants,
         and employees, from and waives all claims for damages to person or
         property sustained by the Tenant or by any occupant of the Premises or.
         the Building, or by any other person, resulting directly or indirectly
         from fire or other casualty, cause, or any existing or future
         condition, defect, matter, or thing in or about the Premises, the
         Building or any part of it, or from any equipment or appurtenance
         therein, or from any accident in or about the Building, or from any act
         or neglect of any tenant or other occupant of the Building or any part
         thereof or of any other person. This Section 14(a) shall not operate as
         a release of Landlord from liability for the negligent or intentionally
         wrongful conduct of landlord or its agent or employees. This

                                      -27-

<PAGE>

         Section 14 shall apply especially, but not exclusively, to damage
         caused by water, snow, frost, steam, excessive heat or cold, sewerage,
         gas, odors, or noise, or the bursting or leaking of pipes or plumbing
         fixtures, broken glass, sprinkling or air conditioning devices or
         equipment, or flooding of basements, and to any damage to automobiles
         parked in the garage in the Building or outside the Building and shall
         apply without distinction as to the person whose act or neglect was
         responsible for the damage and whether the damage was due to any of the
         acts specifically enumerated above, or from any other thing or
         circumstance, whether of a like nature or of a wholly different nature.
         If any damage to the Premises or the building or any equipment or
         appurtenance therein, whether belonging to Landlord or to other tenants
         or occupants of the Building or otherwise, results from any negligent
         or wrongful acts of the Tenant, its employees, agents, or invitees,
         Tenant shall be liable therefor and Landlord may, at its option, repair
         such damage and Tenant shall upon demand by Landlord reimburse Landlord
         for all reasonable costs of such repairs and damages in excess of
         amounts, if any, paid to Landlord under insurance covering such
         damages. Except as otherwise provided herein, all personal property
         belonging to the Tenant or any occupant of the Premises that is in the
         Building or the Premises shall be there at the risk of the Tenant or
         other person only and Landlord shall not be liable for damage thereto
         or theft or misappropriation thereof. All vehicles parked in the
         Building's garage or in the parking lots shall be parked at the sole
         risk of the owner, and Landlord assumes no responsibility for any
         damage to or loss of vehicles.

              (b) To the extent not expressly prohibited by law, Tenant agrees
         to hold Landlord and its beneficiaries, and their agents, servants, and
         employees, harmless and to indemnify each of them against claims and
         liabilities, including reasonable attorneys' fees, for injuries to all
         persons and damage to or theft or misappropriation or loss of property
         occurring in or about the Premises arising from Tenant's negligence or
         wrongful acts or from any breach or default on the part of Tenant in
         the performance of any covenant or agreement on the part of Tenant to
         be performed pursuant to the terms of this Lease or due to any other
         act or omission of the Tenant, its agents, or employees.

              (c) To the extent not expressly prohibited by law, Landlord agrees
         to hold Tenant and its agents, servants and employees, harmless and to
         indemnify each of them against claims and liabilities, including
         reasonable attorney's fees, for injuries to all persons and damage to
         or loss of property occurring in or about the Premises, excluding
         consequential damages, arising from Landlord's negligence or wrongful
         acts or from any breach or default on the part of Landlord in the
         performance of any covenant or agreement on the part of Landlord to be
         performed pursuant to the terms of this Lease or due to any other
         negligent act or omission of the Landlord, its agents or employees.

         15.  Damage or Destruction by Casualty.

              (a) If the Premises or any part of the Building shall be damaged
         by fire or other casualty and if such damage does not render all or a
         substantial portion of the Premises or the Building untenantable, then
         Landlord shall proceed to repair and restore the same to its prior
         existing condition with reasonable promptness, subject to reasonable
         delays for insurance adjustments and delays caused by matters beyond
         Landlord's

                                      -28-

<PAGE>

         control. If any such damage renders all or a substantial portion of the
         Premises or the Building untenantable, Landlord shall, with reasonable
         promptness after the occurrence of such damage and in good faith,
         estimate the length of time that will be required to substantially
         complete the repair and restoration of such damage from the date
         Landlord receives authority from Landlord's insurer to proceed with the
         repair and restoration of the Building ("Approval Date") and shall by
         notice advise Tenant of such estimate. If it is so estimated that the
         amount of time required to substantially complete such repair and
         restoration will be less than one hundred eighty (180) days, Landlord
         shall commence such repair and restoration upon the Approval Date but
         in no event more than thirty 30) days after the occurrence of the damn
         e. If the actual time for repairs and restoration exceeds one hundred
         eighty 180 days, Tenant may not terminate this Lease provided Landlord
         is diligently pursuing the repair and restoration of the Building and
         such repair and restoration period does not exceed two hundred seventy
         (270) days; provided, however, if such repair and restoration period is
         in excess of two hundred seventy (270) days Tenant may terminate this
         Lease on five (5 days written notice to Landlord. If it is so estimated
         that the amount of time required to substantially complete such repair
         and restoration will exceed one hundred eighty (180) days from the
         Approval Date, then either Landlord or Tenant but as to Tenant only if
         all or a substantial portion of the Premises are rendered untenantable
         and the estimated time to substantially complete the repair or
         restoration of the Premises will exceed such one hundred eighty (180)
         days from the Approval Date shall have the right to terminate this
         Lease as of the date of such damage upon giving notice to the other at
         any time within twenty (20) days after Landlord gives Tenant the notice
         containing said estimate (it being understood that Landlord may, if it
         elects to do so, also give such notice of termination together with the
         notice containing said estimate). Unless this Lease is terminated as
         provided in the preceding sentence, Landlord shall proceed with
         reasonable promptness and all due diligence to repair and restore the
         Premises, subject to reasonable delays for insurance adjustments and
         delays caused by matters beyond Landlord's control, and also subject to
         zoning laws and building codes then in effect. Landlord shall have no
         liability to Tenant, and Tenant shall not be entitled to terminate this
         Lease (except as hereinafter provided) if such repairs and restoration
         are not in fact completed within the time period estimated by Landlord,
         as aforesaid, or within said one hundred eighty 180 days, so long as
         Landlord shall proceed with reasonable promptness and due diligence.
         Notwithstanding anything to the contrary herein set forth: (i) if any
         such damage rendering all or a substantial portion of the Premises or
         Building untenantable shall occur during the last three (3) years of
         the Term, then Landlord shall have the option to terminate this Lease
         by written notice to Tenant within thirty (30) days after the date such
         damage occurred, and if such option is so exercised, this Lease shall
         terminate as of the date of such damage; (ii) Landlord shall have no
         duty pursuant to this Section 15 to repair or restore any portion of
         alterations, additions or improvements made by or on behalf of Tenant
         in the Premises or improvements which are in excess of Shell and Core
         and Tenant Improvements as defined in the Workletter attached hereto;
         (iii) Landlord shall not be obligated but may, at its option, so elect)
         to repair or restore the Premises or Building if any mortgagee applies
         proceeds of insurance to reduce its loan balance and to pay any
         applicable loan fees and the remaining proceeds, if any, available to
         Landlord are not sufficient to pay for such repair or restoration. In
         such event, Landlord shall distribute to Tenant the lesser of the

                                      -29-

<PAGE>

         balance of the insurance proceeds or the contract sum of the Tenant
         Improvements (as defined in the Workletter) which have been paid for as
         of said date, multiplied by a fraction of which the numerator is the
         number of months remaining in the Lease term and the denominator is the
         number of months between the Commencement Date and the Expiration Date;
         and (iv) Tenant shall not have the right to terminate this Lease
         pursuant to this Section 15 if the damage or destruction was caused by
         the intentional or negligent act of Tenant, its agents or employees.

              (b) In the event any such fire or casualty damage not caused by
         the intentional or negligent act of Tenant, its agents or employees,
         renders the Premises substantially untenantable and Tenant is not
         occupying the Premises and if this Lease shall not be terminated
         pursuant to the foregoing provisions of Section 15 by reason of such
         damage, then Rent shall abate during the period beginning with the date
         of such damage and ending with the date when Landlord substantially
         completes its repair and restoration work. Such abatement shall be an
         amount bearing the same ratio to the total amount of Rent for such
         period as the portion of the Premises being repaired and restored by
         Landlord and not heretofore delivered to Tenant from time to time bears
         to the entire Premises. In the event of termination of this Lease
         pursuant to this Section 15, Rent shall be apportioned on a per diem
         basis and be paid to the date of such fire or other casualty.

              (c) In the event of any such fire or other casualty, and if the
         lease is not terminated pursuant to the foregoing provisions of this
         Lease, Tenant shall repair and restore any portion of alterations,
         additions or improvements made by or on behalf of Tenant in the
         Premises, and during any such period of Tenant's repair and restoration
         following substantial completion of Landlord's repair and restoration
         work, Rent shall be payable as if said fire or other casualty had not
         occurred.

              (d) In the event the Premises or a part thereof is destroyed by
         fire or other casualty, Landlord agrees to assist Tenant in locating
         equivalent temporary space for Tenant within (1) the Lincolnshire
         Corporate Center or (2) another office center located as close to the
         Building as possible.

         16.  Eminent Domain. If all or a substantial part of the Building, or
any part thereof which includes all or a substantial part of the Premises, shall
be taken or condemned by any competent authority for any public or quasi-public
use or purpose, the Term of this Lease shall end upon and not before the date
when the possession of the part so taken shall be required for such use or
purpose, and without apportionment of the award to or for the benefit of Tenant.
If any condemnation proceeding shall be instituted in which it is sought to take
or damage any part of the Building, the taking of which would, in Landlord's
opinion, prevent the economical operation of the Building, or if the grade of
any street or alley adjacent to the Building is changed by any competent
authority, and such taking or damage or change of grade makes it necessary or
desirable to remodel the Building to conform to the taking or damage, Landlord
shall have the right to terminate this Lease upon not less than ninety (90)
days' notice prior to the date of termination designated in the notice. In
either of the events above referred to, Rent shall be apportioned as of the date
of the termination. No money or other consideration shall be payable by the
Landlord to the Tenant for the right of termination, and the Tenant shall have
no right to share in the condemnation award or in any judgment for damages
caused by such taking

                                      -30-

<PAGE>

or the change of grade; provided, however, that Tenant shall have the right to
pursue separately against the condemning authority any award available
separately to Tenant for Tenant's moving and relocation expenses.

         17.  Default; Landlord's Rights and Remedies.

              (a)   The occurrence of any one or more of the following matters
         constitutes a Default by Tenant under this Lease:

                    (i)    Failure by Tenant to pay Rent or any installment
              thereof when due within five (5) days of receipt of written or
              telephone notice of Landlord's failure to receive such sums, so
              long as any late charge of penalty shall accrue as of the due
              date;

                    (ii)   Failure by Tenant to pay within five (5) days of
              receipt of written or telephone notice of Landlord's failure to
              receive such sums, so long as any late charge or penalty shall
              accrue as of the due date and any other moneys required to be paid
              by Tenant under this Lease;

                    (iii)  Failure by Tenant to observe or perform any of the
              covenants in respect of assignment and subletting set forth in
              Section 13;

                    (iv)   Failure by Tenant to cure forthwith, immediately
              after receipt of notice from Landlord, any hazardous condition
              which Tenant has created in violation of law or of this Lease;

                    (v)    Failure by Tenant to observe or perform any other
              covenant, agreement, condition or provision of this Lease, if such
              failure shall continue for thirty (30) days after notice thereof
              from Landlord to Tenant, provided, however, that Tenant shall not
              be in default with respect to matters which cannot reasonably be
              cured within thirty (30) days so long as within such thirty (30)
              day period Tenant commences such cure and diligently proceeds to
              complete the same at all times thereafter;

                    (vi)   The levy upon or under execution or the attachment by
              legal process of the leasehold interest of Tenant, or the filing
              or creation of a lien in respect of such leasehold interest, which
              lien shall not be released or discharged within thirty (30) days
              from the date of such filing;

                    (vii)  Tenant vacates or abandons the Premises or fails to
              take possession of the Premises when available for occupancy (the
              transfer of a substantial part of the operations, business and
              personnel of Tenant to some other location being deemed, without
              limiting the meaning of the term "vacates or abandons", to be a
              vacation or abandonment within the meaning of this clause (vii)),
              and Tenant thereafter does not pay Rent due under this Lease;

                    (viii) Tenant becomes insolvent or bankrupt or admits in
              writing its inability to pay its debts as they mature, or makes an
              assignment for the benefit of

                                      -31-

<PAGE>

              creditors, or applies for or consents to the appointment of a
              trustee or receiver for Tenant or for the major part of his
              property;

                    (ix)  A trustee or receiver is appointed for the Tenant or
              for the major part of its property and is not discharged within
              thirty (30) days after such appointment; and

                    (x)   Bankruptcy, reorganization, arrangement, insolvency or
              liquidation proceedings, or other proceedings for relief under any
              bankruptcy law, or similar law for the relief of debtors, are
              instituted by or against Tenant, and, if instituted against
              Tenant, are allowed against it or are consented to by it or are
              not dismissed within sixty (60) days after such institution.

              (b)   If a Default occurs which has not been cured or remedied
         during the applicable grace period, Landlord shall have the rights and
         remedies hereinafter set forth, which shall be distinct, separate and
         cumulative and shall not operate to exclude or deprive Landlord of any
         other right or remedy allowed it by law:

                    (i)   Landlord may terminate this Lease by giving to Tenant
              written notice of the Landlord's election to do so, in which event
              the Term of this Lease shall end, and all right, title and
              interest of the Tenant hereunder shall expire, on the date stated
              in such notice;

                    (ii)  Landlord may terminate the right of the Tenant to
              possession of the Premises without terminating this Lease by
              giving written notice to Tenant that Tenant's right of possession
              shall end on the date stated in such notice, whereupon the right
              of the Tenant to possession of the Premises or any part thereof
              shall cease on the date stated in such notice; and

                    (iii) Landlord may enforce the provisions of this Lease and
              may enforce and protect the rights of the Landlord hereunder by a
              suit or suits in equity or at law for the specific performance of
              any covenant or agreement contained herein, or for the enforcement
              of any other appropriate legal or equitable remedy, including
              recovery of all moneys due or to become due from the Tenant under
              any of the provisions of this Lease.

Any notice required to be given by Landlord pursuant to this Section 17(b) may
be given concurrently with a notice of default pursuant to Section 17(a).

              (c)   If Landlord exercises either the remedies provided for in
         subparagraphs (i) or (ii) of the foregoing Section 17(b), Tenant shall
         surrender possession and vacate the Premises immediately and deliver
         possession thereof to the Landlord, and Landlord may then or at any
         time thereafter re-enter and take complete and peaceful possession of
         the Premises, with or without process of law, and Landlord may remove
         all occupants and property therefrom, using such force as may be
         necessary, without being deemed in any manner guilty of trespass,
         eviction or forcible entry and detainer and without relinquishing
         Landlord's right to rent or any other right given to Landlord hereunder
         or by operation of law.

                                      -32-

<PAGE>

              (d)   If Landlord, pursuant to the provisions of Section 17(b)(ii)
         hereof, terminates the right of the Tenant to possession of the
         Premises without terminating this Lease, such termination of possession
         shall not release Tenant, in whole or in part, from Tenant's obligation
         to pay the Rent hereunder when due for the full Term, and Landlord
         shall have the right to immediate recovery of all amounts then due
         hereunder. In addition, Landlord shall have the right, from time to
         time, to recover from the Tenant, and the Tenant shall remain liable
         for, all Rent and any other sums thereafter accruing as they become due
         under this Lease during the period from the date of such notice of
         termination of possession to the stated end of the Term. In any such
         case, the Landlord shall use reasonable efforts to, but shall be under
         no obligation to (except to the extent required by law), relet the
         Premises or any part thereof for the account of the Tenant for such
         rent, for such time (which may be for a term extending beyond the Term
         of this Lease) and upon such terms as the Landlord in the Landlord's
         sole discretion shall determine, and the Landlord shall not be required
         to accept any tenant offered by the Tenant or to observe any
         instructions given by the Tenant relative to such reletting. Landlord
         shall, however, cooperate with Tenant in order to relet the Premises
         and minimize Tenant's damages, but this obligation shall not require
         Landlord to divert any prospective tenants from any other portion of
         the Building. Also in any such case the Landlord may make repairs,
         alterations and additions in or to the Premises and redecorate the same
         to the extent deemed by the Landlord necessary or desirable and in
         connection therewith change the locks to the Premises, and the Tenant
         shall upon demand pay the cost thereof together with the Landlord's
         reasonable expenses of reletting. Landlord may collect the rents from
         any such reletting and apply the same first to the payment of the
         expenses of reentry, redecoration, repair and alterations and the
         expenses of reletting and second to the payment of Rent herein provided
         to be paid by the Tenant, and any excess or residue shall operate only
         as an offsetting credit against the amount of Rent as the same
         thereafter becomes due and payable hereunder, but the use of such
         offsetting credit to reduce the amount of Rent due Landlord, if any,
         shall not be deemed to give Tenant any right, title or interest in or
         to such excess or residue and any such excess or residue shall belong
         to Landlord solely; provided that in no event shall Tenant be entitled
         to a credit on its indebtedness to Landlord in excess of the aggregate
         sum (including Base Rent and Additional Rent). which would have been
         paid by Tenant for the period for which the credit to Tenant is being
         determined, had no Default occurred. No such re-entry or repossession,
         repairs, alterations and additions, or reletting shall be construed as
         an eviction or ouster of the Tenant or as an election on Landlord's
         part to terminate this Lease unless a written notice of such intention
         be given to Tenant or shall operate to release the Tenant in whole or
         in part from any of the Tenant's obligations hereunder, and the
         Landlord may, at any time and from time to time, sue and recover
         judgment for any deficiencies from time to time remaining after the
         application from time to time of the proceeds of any such reletting.

              (e)   In the event of the termination of this Lease by Landlord as
         provided for by subparagraph (i) of Section 17(b), Landlord shall be
         entitled to recover from Tenant all the fixed dollar amounts of Rent
         accrued and unpaid for the period up to and including such termination
         date, as well as all other additional sums payable by the Tenant, or
         for which Tenant is liable or in respect of which Tenant has agreed to
         indemnify Landlord under any of the provisions of this Lease which may
         be then owing and unpaid, and all

                                      -33-

<PAGE>

         costs and expenses, including court costs and reasonable attorneys'
         fees incurred by Landlord in the enforcement of its rights and remedies
         hereunder, and in addition Landlord shall be entitled to recover as
         damages for loss of the bargain and not as a penalty (x) the
         unamortized cost to the Landlord, computed and determined in accordance
         with generally accepted accounting principles, of the tenant
         improvements and alterations, if any, paid for and installed by
         Landlord pursuant to this Lease, and (y) the aggregate sum which at the
         time of such termination represents the excess, if any, of the present
         value of the aggregate rents at the same annual rate for the remainder
         of the Term as then in effect pursuant to the applicable provisions of
         Sections 1 and 2 of this Lease, over the then present value of the then
         aggregate fair rental value of the Premises for the balance of the
         Term, such present worth to be computed in each case on the basis of a
         per annum discount at the rate for United States Treasury bills then in
         effect having a term the same as the remaining Lease Term from the
         respective dates upon which such rentals would have been payable
         hereunder had this Lease not been terminated, and (z) any damages in
         addition thereto, including reasonable attorneys' fees and court costs,
         which Landlord shall have sustained by reason of the breach of any of
         the covenants of this Lease other than for the payment of rent.

              (f)   All property removed from the Premises by Landlord pursuant
         to any provision of this Lease or of law may be handled, removed or
         stored by Landlord at the cost and expense of the Tenant, and the
         Landlord shall in no event be responsible for the value, preservation
         or safekeeping thereof. Tenant shall pay Landlord for all expenses
         incurred by Landlord in such removal and storage charges against such
         property so long as the same shall be in Landlord's possession or under
         Landlord's control. All property not removed from the Premises or not
         retaken from storage by Tenant within thirty (30) days after the end of
         the Term, however terminated, shall be conclusively deemed to have been
         conveyed by Tenant to Landlord as by bill of sale without further
         payment or credit by Landlord to Tenant.

              (g)   If any action for breach of or to enforce any provision of
         this Lease is commenced, the court in such action shall award to the
         party in whose favor judgment is entered, a reasonable sum as
         attorneys' fees, which attorneys' fees shall be paid by the losing
         party in such action. Tenant shall pay all of Landlord's costs,
         charges, and expenses, including court costs and reasonable attorneys'
         fees, incurred by Landlord in any litigation in which Tenant causes the
         Landlord, without Landlord's fault, to become involved or concerned.
         Landlord shall pay all of Tenant's costs, charges and expenses,
         including court costs and reasonable attorneys' fees, incurred by
         Tenant in any litigation in which Landlord causes Tenant without
         Tenant's fault to become involved or concerned.

              (h)   In the event that Tenant shall file for protection under any
         Chapter of the Bankruptcy Code now or hereafter in effect, Landlord and
         Tenant agree, to the extent permitted by law, to request that the
         debtor-in-possession or trustee-in-bankruptcy, if one is appointed,
         assume or reject this Lease within sixty (60) days thereafter.

         18.  Subordination.

                                      -34-

<PAGE>

          (a)  Landlord may have heretofore or may hereafter encumber with a
     mortgage or trust deed the Building, the Land, the Real Property or any
     interest therein, and may have heretofore and may hereafter sell and lease
     back the Land, or any part of the Real Property, and may have heretofore or
     may hereafter encumber the leasehold estate under such lease with a
     mortgage or trust deed (any such mortgage or trust deed is herein called a
     "Mortgage" and the holder of any such mortgage or the beneficiary under any
     such trust deed is herein called a "Mortgagee".

     Any such lease of the underlying land is herein called a "Ground Lease",
     and the lessor under any such lease is herein called a "Ground Lessor". Any
     Mortgage which is a first lien against the Building, the Land, the Real
     Property, the leasehold estate under a Ground Lease or any interest therein
     is herein called a "First Mortgage" and the holder or beneficiary of any
     First Mortgage is herein called a "First Mortgagee"). If requested by the
     Mortgagee or Ground Lessor, Tenant will either (a) subordinate its interest
     in this Lease to said Mortgage, and to any and all advances thereunder and
     to the interest thereon, and all renewals, replacements, amendments,
     modifications, and extensions thereof, or to said Ground Lease, or to both,
     or (b) make Tenant's interest in this Lease or certain of Tenant's rights
     hereunder superior thereto; and Tenant will promptly execute and deliver
     such agreement or agreements as may be reasonably required by the Mortgagee
     or by any such Ground Lessor; provided that Tenant covenants it will not
     subordinate this Lease to any Mortgage other than a First Mortgage without
     the prior written consent of the First Mortgagee.

          (b)  It is further agreed that (a) if any Mortgage shall be
     foreclosed, or if any ground or underlying lease be terminated, (i) the
     liability of the mortgagee or trustee hereunder or purchaser at such
     foreclosure sale or the liability of a subsequent owner designated as
     Landlord under this Lease shall exist only so long as such trustee,
     mortgagee, purchaser, or owner is the owner of an interest in the Building
     or Land and such liability shall not continue or survive after further
     transfer of ownership; and (ii) upon request of the mortgagee or trustee,
     if any Mortgage shall be foreclosed, Tenant will attorn, as Tenant under
     this Lease, to the purchaser at any foreclosure sale under any Mortgage, or
     upon request of the Ground Lessor, if any Ground Lease shall be terminated,
     Tenant will attorn as Tenant under this Lease to the Ground Lessor, and
     Tenant will execute such instruments as may be necessary or appropriate to
     evidence such attornment, so long as such instruments contain a reasonably
     satisfying covenant of non-disturbance of Tenant; and (b) this Lease may
     not be modified or amended so as to reduce the rent or shorten the term
     provided hereunder, or so as to adversely affect in any other respect to
     any material extent the rights of the Landlord, nor shall this Lease be
     canceled or surrendered, without the prior written consent, in each
     instance, of the First Mortgagee and of any Ground Lessor.

          (c)  Should any prospective First Mortgagee or. Ground Lessor require
     a modification or modifications of this Lease, which modification or
     modifications will not cause an increase in the Rent stipulated hereunder
     or in any other way materially and adversely change the rights and
     obligations of Tenant hereunder, then and in such event, Tenant agrees that
     this Lease may be so modified and agrees to execute whatever documents are
     required therefor and deliver the same to Landlord within ten (10)

                                      -35-

<PAGE>

     business days following the request therefor. Should any Landlord or
     prospective Mortgagee or Ground Lessor require execution of a short form of
     lease for recording (containing the names of the parties, a description of
     the Premises, and the term of this Lease) or a certification from the
     Tenant concerning the lease in such form as may be required by a
     prospective mortgagee or ground lessor, Tenant agrees to execute such short
     form of lease or certificate and deliver the same to Landlord within ten
     (10) days following the request therefor.

     19.  Mortgagee Protection. Tenant agrees to give the First Mortgagee, by
registered or certified mail, a copy of any notice of default served upon the
Landlord by Tenant, provided that, prior to such notice, Tenant has been
notified in writing (by way of service on Tenant of a copy of assignment of
rents and leases, or otherwise) of the address of such First Mortgagee. Tenant
further agrees that if Landlord shall have failed to cure such default within
twenty (20) days after such notice to Landlord (or if such default cannot be
cured or corrected within that time, then such additional time as may be
necessary if Landlord has commenced within such twenty (20) days and is
diligently pursuing the remedies or steps necessary to cure or correct such
default), then the First Mortgagee shall have an additional thirty (30) days
within which to cure or correct such default (or if such default cannot be cured
or corrected within that time, then such additional time as may be necessary if
the First Mortgagee has commenced within such thirty (30) days and is diligently
pursuing the remedies or steps necessary to cure or correct such default). Until
the time allowed, as aforesaid, for the First Mortgagee to cure such default has
expired without cure, Tenant shall have no right to, and shall not, terminate
this Lease on account of Landlord's default.

     20.  [Intentionally Omitted]

     21.  Subrogation and Insurance.

          (a)  Landlord and Tenant agree to have all physical damage or material
     damage insurance which may be carried by either of them, and Tenant agrees
     to have all business interruption insurance which it carries, endorsed to
     provide that any release from liability of, or waiver of claim for,
     recovery from the other party entered into in writing by the insured
     thereunder prior to any loss or damage shall not affect the validity of
     said policy or the right of the insured to recover thereunder and providing
     further that the insurer waives all rights of subrogation which such
     insurer might have against the other party. Without limiting any release or
     waiver of liability or recovery contained in any other section of this
     Lease, but rather in confirmation and furtherance thereof, each of the
     parties hereto waives all claims for recovery from the other party for any
     loss or damage to any of its property or damages as a result of business
     interruption. Notwithstanding the foregoing or anything contained in this
     Lease to the contrary, any release and any waiver of claims shall not be
     operative, nor shall the foregoing endorsements be required, in any case
     where the effect of such release and waiver is to invalidate insurance
     coverage or increase the cost thereof (provided that, in the case of
     increased cost, the other party shall have the right, within ten (10) days
     following written notice, to pay such increased cost keeping such release
     and waiver in full force and effect).

                                      -36-

<PAGE>

          (b)  Tenant shall carry insurance during the entire Term hereof
     insuring Tenant and Landlord and Landlord's agents and beneficiaries and
     mortgagees with terms, coverages, and in companies satisfactory to Landlord
     and mortgagees and with such commercially reasonable increases in limits as
     Landlord may from time to time request but initially Tenant shall maintain
     the following coverages in the following amounts:

               (i)  Comprehensive general liability insurance, including
          contractual liability insuring the indemnification provisions
          contained in this Lease, in an amount not less than $2,000,000.00
          combined single limit per occurrence;

               (ii) "All risk" physical damage insurance, including sprinkler
          leakage, for the full replacement cost of all additions, property
          improvements, and property alterations to the Premises and of all
          office furniture, trade fixtures, office equipment, merchandise, and
          all other items of Tenant's property on the Premises above Tenant
          Improvements as defined in the Workletter; and

          The foregoing insurance may be provided by a company-wide blanket
     insurance policy or policies maintained by or on behalf of Tenant, provided
     that the same is reasonably satisfactory to Landlord.

          (c)  Tenant shall, prior to the commencement of the Term and
     thereafter during the Term, furnish to Landlord policies or certificates
     issued by the respective carriers evidencing such coverage or replacements
     and renewals thereof, which policies or certificates shall state that such
     insurance coverage may not be changed or canceled without at least thirty
     (30) days' prior written notice to Landlord and Tenant.

          (d)  Tenant shall comply with all applicable laws and ordinances, all
     orders and decrees of court and all requirements of other governmental
     authority and all requirements of Landlord's insurance companies, and shall
     not directly or indirectly make any use of the Premises which may thereby
     be prohibited or be dangerous to person or property or which may jeopardize
     any insurance coverage, or may increase the cost of insurance or require
     additional insurance coverage. In the event of such increase in the cost of
     insurance or such requirement for additional insurance coverage, Tenant
     shall reimburse Landlord for the cost thereof.

     22.  Nonwaiver. No waiver of any condition expressed in this Lease shall be
implied by any neglect of either party to enforce any remedy on account of the
violation of such condition whether or not such violation be continued or
repeated subsequently, and no express waiver shall affect any condition other
than the one specified in such waiver and that one only for the time and in the
manner specifically stated. Without limiting the provisions of Section 10, it is
agreed that no receipt of moneys by Landlord from Tenant after the termination
in any way of the Term or of Tenant's right of possession hereunder or after the
giving of any notice shall reinstate, continue or extend the Term or affect any
notice given to Tenant prior to the receipt of such moneys. It is also agreed
that after the service of notice or the commencement of a suit or after final
judgment for possession of the Premises, Landlord may receive and collect any
moneys due, and the payment of said moneys shall not waive or affect said
notice, suit or judgment.

                                      -37-

<PAGE>

     23.  Estoppel Certificate. The Tenant agrees that from time to time upon
not less than ten (10) business days' prior request by Landlord, or the holder
of any Mortgage or any ground lessor, the Tenant (or any permitted assignee,
subtenant, licensee, concessionaire, or other occupant of the Premises claiming
by, through, or under Tenant) will deliver to Landlord or to the holder of any
Mortgage or ground lessor, a statement in writing signed by Tenant certifying
(a) that this Lease is unmodified and in full force and effect (or if there have
been modifications, that the lease as modified is in full force and effect and
identifying the modifications); (b) the date upon which Tenant began paying Rent
and the dates to which the Rent and other charges have been paid, (c) that the
Landlord is not in default under any provision of this Lease, or, if in default,
the nature thereof in detail; (d) that the Premises have been completed in
accordance with the terms hereof and Tenant is in occupancy and paying Rent on a
current basis with no rental offsets or claims; (e) that there has been no
prepayment of Rent other than that provided for in the Lease; (f) that there are
no actions, whether voluntary or otherwise, pending against Tenant under the
bankruptcy laws of the United States or any State thereof, and (g) such other
matters as may be required by Landlord, the holder of any Mortgage or ground
lessor. If Tenant requests a similar statement, stating the status of this
Lease, Landlord shall provide same to Tenant within ten (10) business days.

     24.  Tenant Authority to Execute Lease. In case Tenant is a partnership,
Tenant represents and warrants that an authorized member of said partnership has
have executed this Lease on behalf of Tenant. Tenant shall supply evidence to
Landlord that proves that this Lease has been executed and delivered pursuant to
and in conformity with a valid and effective authorization therefor and is and
constitutes the valid and binding agreement of the partnership and each and
every partner therein in accordance with its terms.

     25.  Real Estate Brokers. Tenant represents that Tenant has directly dealt
with and only with the real estate broker or brokers disclosed in the Schedule
(whose commission shall be paid by Landlord pursuant to a separate agreement
with each such broker), as broker, in connection with this Lease and agrees to
indemnify and hold Landlord harmless from all damages, liability, and expense
(including reasonable attorneys' fees) arising from any claims or demands of any
other broker or brokers or finders for any commission alleged to be due such
broker or brokers or finders in connection with its participating in the
negotiation with Tenant of this Lease.

     26.  Notices. In every instance where it shall be necessary or desirable
for Landlord to serve any notice or demand upon Tenant, it shall be sufficient
to send a written or printed copy of such notice or demand by United States
registered or certified mail, postage prepaid, addressed to Tenant at the
address set forth in the Schedule, and a copy thereof to: Hewitt Associates, 100
Half Day Road, Lincolnshire, Illinois 60069, Attention: C.L. Connolly, III, in
which event the notice or demand shall. be deemed to have been served at the
time the same was posted plus two (2) business days, to serve any such notice or
demand personally. Any such notice or demand to be given by Tenant to Landlord
shall, until further notice, be served personally or sent by United States
registered or certified mail, postage prepaid, to One Overlook Point, Suite 100,
Lincolnshire Corporate Center, Lincolnshire, Illinois. Mailed communications to
Landlord shall be deemed to have been served at the time the same were posted
plus two (2) business days. Notwithstanding the foregoing, notices served with
respect to emergency matters may be served personally or by telephone
communication. Tenant is advised and acknowledges

                                      -38-

<PAGE>

that until further notice to Tenant, Van Vlissingen & Co., the present agent of
Landlord, has authority to execute and deliver notices hereunder to Tenant on
behalf of Landlord.

     27.  Miscellaneous.

          (a)  Each provision of this Lease shall extend to and shall bind and
     inure to the benefit not only of Landlord and Tenant, but also their
     respective heirs, legal representatives, successors, and assigns, but this
     provision shall not operate to permit any transfer, assignment, mortgage,
     encumbrance, lien, charge, or subletting contrary to the provisions of
     Section 13.

          (b)  No modification, waiver, or amendment of this Lease or of any of
     its conditions or provisions shall be binding upon Landlord or Tenant
     unless in writing and signed by Landlord and Tenant.

          (c)  Submission of this instrument for examination shall not
     constitute a reservation of or option for the Premises or in any manner
     bind Landlord and no lease or obligation on Landlord shall arise until this
     instrument is signed and delivered by Landlord and Tenant; provided,
     however, the execution and delivery by Tenant of this Lease to Landlord or
     the agent of Landlord's beneficiary shall constitute an irrevocable offer
     by Tenant to lease the Premises on the terms and conditions herein
     contained, which offer may not be revoked for thirty (30) days after such
     delivery.

          (d)  The word "Tenant" whenever used herein shall be construed to mean
     Tenants or any one or more of them in all cases where there is more than
     one Tenant; and the necessary grammatical changes required to make the
     provisions hereof apply either to corporations or other organizations,
     partnerships, or other entities, or individuals, shall in all cases be
     assumed as though in each case fully expressed. In all cases where there is
     more than one Tenant, the liability of each shall be joint and several.

          (e)  The Schedule of Significant Terms, Supplemental Provisions,
     clauses, plats, and riders, if any, endorsed on or affixed to this Lease
     are part hereof and in the event of variation or discrepancy the duplicate
     original hereof, including such clauses, plats, and riders, if any, held by
     Landlord shall control.

          (f)  The headings of Sections are for convenience only and do not
     limit, expand, or construe the contents of the Sections.

          (g)  Nothing contained in this Lease shall be deemed or construed by
     the parties hereto or by any third party to create the relationship of
     principal and agent, partnership, joint venturer, or any association
     between Landlord and Tenant, it being expressly understood and agreed that
     neither the method of computation of Rent nor any other provisions
     contained in this Lease nor any act of the parties hereto shall be deemed
     to create any relationship between Landlord and Tenant other than the
     relationship of landlord and tenant.

          (h)  Time is of the essence of this Lease and of each and all
     provisions thereof.

                                      -39-

<PAGE>

          (i)  All amounts (including, without limitation, Base Rent and
     Additional Rent) owed by Tenant to Landlord pursuant to any provision of
     this Lease, except for amounts successfully disputed by Tenant, shall bear
     interest at the annual rate of two percent 2% over the corporate base rate
     of interest then in effect at the First National Bank of Chicago from the
     date of the expiration of the applicable required notice period until paid,
     unless a lesser rate shall then be the maximum rate permissible by law with
     respect thereto, in which event said lesser rate shall be charged.

          (j)  The legal invalidity of any provision of this Lease shall not
     impair or affect in any manner the validity, enforceability, or effect of
     the rest of this Lease.

          (k)  All understandings and agreements, oral or written, heretofore
     made between the parties hereto are merged in this Lease, which alone fully
     and completely expresses the agreement between Landlord (and its
     beneficiary and their agents) and Tenant.

          (l)  Upon written request from Landlord, tenant shall furnish Landlord
     a copy of Tenant's most recent audited and certified financial statement,
     if same is prepared, and if not, the unaudited Balance Sheet and Income
     Statement of Tenant certified by a responsible financial officer of Tenant.

     28.  Landlord's Authority and Quiet Enjoyment. Landlord covenants and
represents that it has full and complete authority to enter into this Lease
under all of the terms, conditions, and provisions set forth herein, and,
subject to the terms, provisions, and conditions hereof, so long as Tenant keeps
and substantially performs each and every term, provision, and condition herein
contained on the part of Tenant to be kept and performed and so long as Tenant
is not in default hereunder, Tenant shall, during the Term hereof, peacefully
and quietly enjoy the Premises without hindrance or molestation by Landlords,
its successors and assigns, subject to the covenants, agreements, terms,
provisions and conditions of this Lease, or by any other person lawfully
claiming by, through or under the same, subject to the covenants, agreements,
terms, provisions and conditions of this Lease and the effect of the application
of same.

     29.  Landlord. The term "Landlord" as used in this Lease means only the
owner or owners at the time being of the Building so that in the event of any
assignment, conveyance, or sale, once or successively, of the Building, or any
assignment of this Lease by Landlord, said Landlord making such sale,
conveyance, or assignment shall be and hereby is entirely freed and relieved of
all covenants and obligations of Landlord hereunder accruing after such sale,
conveyance, or assignment, and Tenant agrees to look solely to such purchaser,
grantee, or assignee with respect thereto. This Lease shall not be affected by
any such assignment, conveyance, or sale, and Tenant agrees to attorn to the
purchaser, grantee, or assignee.

     30.  Title and Covenant Against Liens. The Landlord's title is and always
shall be paramount to the title of the Tenant and nothing in this Lease
contained shall empower the Tenant to do any act which can, shall, or may
encumber the title of the Landlord. Tenant covenants and agrees not to suffer or
permit any lien of mechanics or materialmen to be placed upon or against the
Real Property, the Land, the Building, or the Premises or against the Tenant's
leasehold interest in the Premises and, in case of any such lien attaching, to
immediately pay and

                                      -40-

<PAGE>

remove same. Tenant has no authority or power to cause or permit any lien or
encumbrance of any kind whatsoever, whether created by act of Tenant, operation
of law, or otherwise, to attach to or be placed upon the Real Property, Land,
Building, or Premises, and any and all liens and encumbrances created by Tenant
shall attach only to Tenant's interest in the Premises. If any such liens so
attach and Tenant fails to pay and remove same within fifteen 15 days, Landlord,
at its election, may pay and satisfy the same and in such event the sums so paid
by Landlord, with interest from the date of payment at the rate set forth in
Section 27(i) hereof for amounts owed Landlord by Tenant. Such sums shall be
deemed to be additional rent due and payable by Tenant upon receipt of at once
without notice or demand.

     31.   [Intentionally Omitted]

     32.   Parking. Tenant shall not use or permit its employees to use more
than the number of parking spaces set forth in the Schedule of Significant
Terms. Tenant, its servants, employees, customers, invitees, and guests shall,
when using the parking facilities in and around the Building, observe and obey
all signs regarding fire lanes, no parking zones, driving speed zones and
designated reserved, visitor and handicapped spaces, and when parking, always
park between the designated lines. Landlord reserves the right to tow away, at
the expense of the owner, any vehicle which is improperly parked in a no parking
zone or designated visitors reserved or handicapped area. In the event Tenant is
not the sole tenant of the Premises, Landlord further reserves the right to tow
away, at the expense of the owner, any vehicle which is improperly parked in a
designated visitor or reserved area. All vehicles shall be parked at the sole
risk of the owner and Landlord assumes no responsibility for any damage to or
loss of vehicles.

     33.   [Intentionally Omitted]

     34.   Exculpatory Provisions. Landlord covenants and agrees that no partner
of Tenant shall have any personal liability for payment of any sums due
hereunder, including but not limited to or for observance or performance of any
of the covenants and agreements contained in this Lease and that the Landlord
will not seek or resort to the personal assets of the partners for payment or
performance of any of such, all with the same force and effect as though the
Tenant were an amply capitalized corporation with the partners being the
shareholders thereof. It is expressly understood and agreed by and between the
parties hereto, anything herein to the contrary notwithstanding, that each and
all of the representations, warranties, covenants, undertakings, and agreements
herein made on the part of any Landlord while in form purporting to be the
representations, warranties, covenants, undertakings, and agreements of such
Landlord are nevertheless each and every one of them made and intended, not as
personal representations, warranties, covenants, undertakings, and agreements by
such Landlord or for the purpose or with the intention of binding such Landlord
personally, but are made and intended for the purpose only of subjecting such
Landlord's interest in the Building, the Land and the Premises to the terms of
this Lease and for no other purpose whatsoever, and in case of default hereunder
by any Landlord (or default through, under, or by any of its beneficiaries, or
agents or representatives of said beneficiaries), the Tenant shall look solely
to the interests of such Landlord in the Building and Land; that no Landlord nor
any of its beneficiaries shall have any personal liability to pay any
indebtedness accruing hereunder or to perform any covenant, either express or
implied, herein contained and no liability or duty shall rest upon any Landlord
which is a land trust to

                                      -41-

<PAGE>

sequester the trust estate or the rents, issues, and profits arising therefrom,
or the proceeds arising from Any sale or other disposition thereof; that no
personal liability or personal responsibility of any sort is assumed by, nor
shall at any time be asserted or enforceable against, landlord, American
National Bank and Trust Company of Chicago, Illinois, individually or
personally, but only as trustee under the provisions of a Trust Agreement dated
November 6, 1989, and known as its Trust No. 109810-09 or against any of the
beneficiaries under the said trust No. 10981009 or any beneficiaries under any
land trust which may become the owner of the Land or Building, on account of
this Lease or on account of any representation, warranty, covenant, undertaking,
or agreement of Landlord in this Lease contained, either express or implied, all
such personal liability.

     35.   Joint Venture Agreement.

     Nothing contained herein shall constitute a waiver of any rights of Tenant
under a joint Venture Agreement dated May 15,1989 between Tenant and Tower
Parkway Associates.

     IN WITNESS WHEREOF, the parties have caused this Lease to be executed on
the date first above written.

                                            LANDLORD:

                                            AMERICAN NATIONAL BANK AND TRUST
                                            COMPANY OF CHICAGO, ILLINOIS, not
                                            personally, but solely as Trustee
                                            aforesaid

                                            By: Van Vlissingen and Co, its duly
                                            authorized agent

ATTEST:

/s/ J. Nann                                 By: /s/ M.D. Mann
---------------------------                     --------------------------------
Assistant Secretary
                                            Its: Vice President

                                            TENANT:

                                            HEWITT ASSOCIATES

                                            By: /s/ C.L. Connolly III
                                                --------------------------------

                                      -42-

<PAGE>

                                   WORKLETTER

                              THREE OVERLOOK POINT
                          LINCOLNSHIRE CORPORATE CENTER
                             Lincolnshire, Illinois

          This Workletter is executed simultaneously with that certain Amended
and Restated Lease (the "Lease"), dated December 1, 1989, between AMERICAN
NATIONAL BANK AND TRUST COMPANY OF CHICAGO, ILLINOIS, not personally but as
Trustee under Trust No. 109810-09 ("Landlord"), and Hewitt Associates ("Tenant")
to which this Workletter is attached, wherein the Tenant is leasing, the
Premises (the "Premises") in the building known as Three Overlook Point
("Building"), Lincolnshire Corporate Center, Lincolnshire, Illinois. In
consideration of the parties entering into the Lease and of the mutual promises
and covenants hereinafter contained, Landlord and Tenant hereby agree as
follows:

     1.   Landlord's Work.

          The Landlord shall do the work ("Landlord's Work") in the Premises
consisting of the shell and core of the Building as more particularly described
in the plans and specifications prepared by Loebl Schlossman and Hackl dated
December 4, 1989 ("Shell and Core") and those alterations improvements,
materials finishes installations construction procedures other than Shell and
Core "Tenant Improvements" requested by Tenant and approved by Landlord. Tenant
has approved the plans and specifications for the Shell and Core prepared by
Loebl Schlossman and Hackl dated December 4, 1989.

     2.   Final Plans.

          (a)        Tenant shall cause to be prepared the following drawings
     ("Plans") for the Tenant Improvements.

          (i)        Architectural drawings (consisting of floor construction
                     plan, ceiling lighting and layout, power, plumbing and
                     telephone layouts)

          (ii)       Mechanical drawings (consisting of HVAC, electrical,
                     telephone and plumbing)

          (iii)      Finish schedule (consisting of wall finishes and floor
                     finishes and miscellaneous details)

          (b)        All architectural drawings and finish schedules for Tenant
     Improvements which shall be included in the cost of the Tenant
     Improvements)

<PAGE>

     shall be prepared at Tenant sole cost and expense by an architect
     designated by Landlord whom Tenant shall employ. All mechanical drawings
     for Tenant Improvements which shall be included in the cost of the Tenant
     Improvements) shall be prepared at Tenant sale sect and expense by an
     engineer designated by Landlord, whom Tenant shall employ. At such time as
     Tenant submits the Plans to Landlord, Landlord will apply for a permit and
     commence construction of the Tenant Improvements.

          (c) Landlord shall file the Plans same with the governmental agencies
     having jurisdiction thereof.

     3.   Payment of Costs.

          (a) Subject to the provisions of paragraph 3(b) below, Landlord's Work
     shall be installed at Tenant's sole cost and expense. Tenant agrees to pay
     to Landlord the cost of Landlord's Work and all related soft costs for the
     Building (including general contractor overhead, profit and general
     conditions, i.e., direct costs for rubbish removal, hoisting, and similar
     items), plus five percent (5%) of said cost for Landlord's overhead and
     supervision of Landlord's Work excluding Core and Shell, upon being billed
     therefor for part or all of such work as the cost thereof is incurred by
     Landlord. The items to be included in the cost of Landlord's Work and the
     related soft costs for the Building shall include but not be limited to
     those types of items set forth in the proposed budget for the Building
     attached hereto as Rider E and interest incurred on construction and
     permanent financing of the Building prior to the Commencement Date and all
     related fees in connection with the construction and permanent financing of
     the Building. Landlord may render bills with supporting sworn statements
     and lien waivers to Tenant at the end of each month for the cost of work
     incurred by Landlord during said month, which bills shall be due and
     payable no later than the thirtieth (30th) day after delivery of such bills
     to Tenant. Any such bill not so paid when due shall bear interest at an
     annual rate from time to time equal to (i) two percent (2%) plus (ii) the
     corporate base rate charged by the First National Bank of Chicago from time
     to time from the date of such bill to the date of payment thereof. The
     amounts set forth in this paragraph 3 shall be payable by Tenant, whether
     or not the Term shall have commenced. If Tenant shall fail to pay any of
     such amounts, the same shall be deemed additional rent under the Lease and
     Landlord may pursue its legal remedies and rights thereunder.

          (b) Landlord shall provide Tenant with a construction allowance
     ("Construction Allowance") toward Landlord's Work and related soft costs in
     the sum of Twenty Three Million Three Hundred Thousand and 11/100
     $23,300,000.00) Dollars. The Construction Allowance shall be applied first
     to the cost of the Shell and Core and the soft costs for the Building and
     the balance, if any, to the remainder of Landlord's Work. In the event the
     actual cost of the Shell and Core and soft costs for the Building exceed
     the Construction Allowance, Tenant shall pay said difference in addition to
     the payment of the cost of Tenant

                                       -2-

<PAGE>

     Improvements and other amounts to be paid by Tenant as set forth in
     Paragraph 3 a of this Workletter.

     4. Substantial Completion. Tenant shall be obligated to commence payment of
Rent on the Commencement Date set forth in the Lease.

     5. Tenant's Performance of Work. Landlord will permit Tenant and Tenant's
employees and agents to enter any portion of the Premises prior to the
commencement date of the Term of the Lease so that Tenant may do such other work
as Tenant may desire, but only through contractors approved by Landlord;
provided, however, that Tenant and its employees, agents, contractors, and
suppliers will not interfere with the performance by Landlord or Landlord's
contractors of Landlord's Work in the Premises or elsewhere in the Building. If
at any time such entry shall cause or threaten to cause such disharmony or
interference, Landlord may terminate such permission upon 24 hours' written
notice to Tenant, and thereupon, Tenant and its employees, agents, contractors,
and suppliers shall immediately withdraw from the Premises and the Building.
Tenant agrees that, in the event of any such entry or occupation of any portion
of the Premises by or on behalf of Tenant, Tenant shall have those duties and
obligations with respect thereto that it has pursuant to the Lease during the
Term, except the obligation for payment of rental, and further agrees that
Landlord shall not be liable in any way for injury, loss, or damage which may
occur to any of Tenant's work or installations made in the Premises, or to any
personal property placed therein, the same being at Tenant's sole risk.

                                            LANDLORD:

                                            AMERICAN NATIONAL BANK AND TRUST
                                            COMPANY OF CHICAGO, not personally
                                            but as Trustee aforesaid

                                            By: ________________________________
                                            Title: _____________________________

                                            TENANT:

                                            HEWITT ASSOCIATES

                                            By: ________________________________
                                                   Title: ______________________

                                       -3-

<PAGE>

                                     RIDER A

                              RULES AND REGULATIONS

     (1) In the event Tenant is not the sole tenant of the Premises, the
sidewalks, walks, entries, corridors, concourses, ramps, staircases, escalators,
and elevators (other than Tenant's freight elevator) shall not be obstructed or
used by Tenant, or the employees, agents, servants, visitors, or licensees of
Tenant for any purpose other than ingress and egress to and from the Premises.
No bicycle or motorcycle shall be brought into the Building or kept on the
Premises without the consent of Landlord.

     (2) In the event Tenant is not the sole tenant of the Premises, no freight,
furniture, or bulky matter of any description will be received into the Building
or carried into the elevators (other than Tenant's freight a elevator) except in
such a manner, during such hours, and using such elevators and passageways as
may be approved by Landlord, and then only upon having been scheduled in
advance. Any hand trucks, carryalls, or similar appliances used for the delivery
or receipt of merchandise or equipment shall be equipped with , rubber tires,
side guards, and such other safeguards as Landlord shall require.

     (3) Tenant, or the employees, agents, servants, visitors, or licensees of
Tenant shall not at any time place, leave, or discard any rubbish, paper,
articles, or objects of any kind whatsoever outside the doors of the Premises or
in the corridors or passageways of the Building. No animals or birds shall be
brought or kept in or about the Building.

     (4) Landlord shall have the right to prohibit any advertising by Tenant
which, in Landlord's opinion, tends to impair the reputation of the Building or
its desirability for offices, and, upon written notice from landlord, Tenant
will refrain from or discontinue such advertising. In no event shall Tenant,
without the prior written consent of Landlord, use the name of the Building or
use pictures or illustrations of the Building.

     (5) Tenant shall not place, or cause or allow to be placed, any sign or
lettering whatsoever in the windows of the Premises. Unless Tenant leases an
entire floor, Tenant shall not place any sign or lettering in or about the
Premises except in and at such places as may be designated by Landlord and
consented to by Landlord in writing. All lettering and graphics on corridor
doors on floors partially leased by Tenant must be approved in writing by
Landlord, such approval not to be unreasonably withheld.

     (6) Canvassing, soliciting, or peddling in the Building is prohibited and
Tenant shall cooperate to prevent same.

     (7) In the event Tenant is not the sole tenant of the Premises, any person
in the Building will be subject to identification by employees and agents of
Landlord and all persons in or entering Building shall be required to comply
with the security policies of

<PAGE>

the Building. Tenant shall keep doors to unattended areas locked and shall
otherwise exercise reasonable precautions to protect property from theft, loss,
or damage.

     (8)  Except as otherwise explicitly permitted in its lease, Tenant shall
not do any cooking or conduct any restaurant, luncheonette, automat, or
cafeteria for the sale of or permit the delivery of any food or beverage
intended for resale to the Premises, except by such persons delivering the same
as shall be approved by Landlord and only under regulations fixed by Landlord.
Tenant may, however, operate a coffee bar by and for its employees.

     (9)  Tenant shall not, without Landlord's prior written approval, bring or
permit to be brought or kept in or on the premises any inflammable, combustible,
corrosive, caustic, poisonous, or explosive substance, or cause or permit any
odors to permeate in or emanate from the Premises.

     (10) Except for the hanging of artwork and mill work constituting standard
office furnishings, Tenant shall not mark, paint, drill into, or in any way
deface any part of the Building or Premises. No boring, driving of nails or
screws (except as herein provided), cutting, or stringing of wires shall be
permitted, except with the prior written consent of Landlord, and as Landlord
may direct. Tenant shall not install any resilient tile or similar floor
covering in the Premises except with the prior approval of Landlord.

     (11) No additional locks, bolts or other security devices of any kind shall
be placed on any door in the Building or the Premises and no lock on any door
therein shall be changed or altered in any respect without the consent of
Landlord. Landlord shall furnish two keys for each lock on exterior doors to the
Premises and shall, on Tenant's request and at Tenant's expense, provide
additional duplicate keys. All keys and access cards shall be returned to
Landlord upon termination of this Lease. Landlord may at all times keep a pass
key to the Premises. All entrance doors to the Premises shall be left closed at
all times, and left locked when the Premises are not in use. Tenant shall
promptly advise Landlord of any lost keys or access cards and of any keys or
access cards retained by former employees of Tenant.

     (12) Tenant shall give immediate notice to Landlord in case of theft,
unauthorized solicitation, or accident in the Premises or in the Building or of
defects therein or in any fixtures or equipment, or of any known emergency in
the Building.

     (13) Tenant shall not advertise for laborers giving the Premises as an
address, nor pay such laborers at a location in the Premises.

     (14) The requirements of Tenant will be attended to only upon application
at the office of Landlord in the Building. Employees of Landlord shall not
perform any work or do anything outside of their regular duties, unless under
special instructions from the office of Landlord.

     (15) No awnings, draperies, shutters, or other interior or exterior window
coverings that are visible from the exterior of the Building or from the
exterior of the

                                       -2-

<PAGE>

Premises within the Building may be installed by Tenant except as otherwise
provided for therein.

     (16) No portion of the Premises or any other part of the Building shall at
any time be used or occupied as sleeping or lodging quarters.

     (17) Tenant shall at all times keep the Premises neat and orderly.

     (18) Tenant shall not make excessive noises, cause disturbances or
vibrations or use or operate any electrical or mechanical devices that emit
excessive sound or other waves or disturbances or create obnoxious odors, any of
which may be offensive to the other tenants and occupants of the Building, or
that would interfere with the operation of any device, equipment, radio,
television broadcasting or reception from or within the Building or elsewhere
and shall not place or install any projections, antennas, aerials, or similar
devices inside or outside of the Premises or on the Building without Landlord's
prior written approval.

     (19) The water and wash closets, drinking fountains, and other plumbing
fixtures shall not be used for any purpose other than those for which they were
constructed, and no sweepings, rubbish, rags, coffee grounds, or other
substances shall be thrown therein. All damages resulting from any misuse of the
fixtures shall be borne by the Tenant who, or whose servants, employees, agents,
visitors, or licensees, shall have caused the same. No person shall waste water
by interfering or tampering with the faucets or otherwise.

     (20) Tenant shall not serve, nor permit the serving of alcoholic beverages
in the Premises unless Tenant shall have procured Host Liquor Liability
Insurance, issued by companies and in amounts reasonably satisfactory to
Landlord, naming Landlord, or its agents and mortgagees, as an additional party
insureds.

                                       -3-

<PAGE>

                                     RIDER B

                             CLEANING SPECIFICATIONS

Landlord agrees to perform the following services:

I.   GENERAL AND EXECUTIVE OFFICES, LOBBY, LOUNGE, PUBLIC AREAS, ETC.

     A.   Nightly Schedule (Daily, Monday through Friday except holidays when
          building is normally in operation.

          1.   Empty, clean and replace waste containers.
          2.   Empty and damp clean ash trays. Wash as required.
          3.   Dust all furniture, including desks, chairs, tables.
          4.   Oust all exposed filing cabinets, bookcases, shelves and counter
               tops.
          5.   Dust all telephones.
          6.   Clean and sanitize drinking fountains.
          7.   Spot clean desk tops.
          8.   Spot clean reception lobby glass, including entrance door.
          9.   Client papers on desks, tables, filing cabinets, etc., are not to
               be disturbed.
          10.  Clean and service sand urns. Sand and screens to be furnished by
               client.
          11.  Spot clean and remove hand prints, ink marks and coffee rings
               from all desks.
          12.  Damp clean blackboards, if required.
          13.  Spot clean interior partitions, if needed.
          14.  Remove finger marks and smudges from surfaces such as doors,
               walls, light switches, etc.
          15.  Spot clean interior glass in partitions and doors. Cleaning agent
               is not to remain on partitions and the like.
          16.  Dust base of all chairs, stands, coat racks, etc.

     B.   Weekly Schedule

          1.   Clean and sanitize telephones.
          2.   Low dust all horizontal surfaces to hand height, including sills,
               ledges, moldings, shelves, picture frames, ducts, radiators.
          3.   Clean entire desk tops.
          4.   Clean and polish bright metal to hand heights.
          5.   Remove dust and cobwebs from ceiling areas and corners.

<PAGE>

     C.   Monthly Schedule

          1.   High dust above hand height all horizontal surfaces, including
               shelves, moldings, ledges, pipes, ducts, heating outlets,
               venetian blinds, etc.
          2.   Wash all wastebaskets if needed.
          3.   Wash desk tops.
          4.   Wash all interior partitions; both sides of glass.
          5.   Wash and sanitize metal partitions.
          6.   Wash chair mats.
          7.   Vacuum diffuser outlets.

     D.   Quarterly Schedule

          1.   Clean and polish furniture including desks, chairs, cabinets.

     E.   Semi-Annual Schedule

          1.   Oil all wood paneling.

II.  WASHROOMS

     A.   Nightly Schedule

          1.   Clean, sanitize and polish all vitreous fixtures, including
               toilet bowls, urinals, and hand basins.
          2.   Clean and sanitize all flush rings, drain and overflow outlets.
          3.   Clean and polish all chrome fittings.
          4.   Clean and sanitize toilet seats.
          5.   Clean and polish all glass and mirrors.
          6.   Empty all containers and disposals; insert liners as required.
          7.   Wash and sanitize exterior of all containers.
          8.   Empty and sanitize interior of sanitary containers.
          9.   Wipe toilet stall partitions. Wash as required.
          10.  Remove spots, stains, splashes from wall area adjacent to hand
               basins and towel holders.
          11.  Refill all dispensers to maximum limits -- napkin, soap, tissue,
               towel, liners, seat holders, cups. Refill with supplies.
          12.  Remove finger marks and smudges from surfaces such as doors,
               walls, light switches, etc.
          13.  Sweep and wet mop all floors with disinfectant.
          14.  Dust and spot clean all chairs, tables and lamps.

     B.   Weekly Schedule

          1.   Spot clean metal partitions and remove all writing.
          2.   Low dust all horizontal surfaces to hand height, including sills,
               moldings, ledges, shelves, frames, ducts, heating outlets.

                                       -2-

<PAGE>

     C.   Monthly Schedule

          1.   Sanitize metal partitions.
          2.   High dust above hand height all horizontal surfaces, including
               shelves, ledges, moldings, pipes, ducts, heating outlets.
          3.   Machine scrub tile floors.
          4.   Flush floor drains with disinfectant.

     D.   Quarterly Schedule

          1.   Flush soap dispensers.

III. FLOORS - RESILIENT AND HARD

     A.   Nightly Schedule

          1.   Dry dust with treated yarn mop and wet mop where necessary.

     B.   Weekly Schedule

          1.   Wet mop and machine spray buff open areas, including kneehole or
               desks.
          2.   Scrub to remove scuff and heel marks.

     C.   Monthly Schedule

          1.   Refinish to maintain adequate protective coating; removing black
               heel marks.

     D.   Annual Schedule

          1.   Strip, clean, seal and refinish, plus machine polish.
          2.   Clean, refinish and polish baseboards.

IV.  CARPET

     A.   Nightly Schedule

          1.   Vacuum open areas.
          2.   Spot vacuum non-traffic aisles.

     B.   Weekly Schedule

          1.   Thoroughly vacuum all areas.

     C.   As Required

          1.   Inspect for spots and stains. Remove is possible.
          2.   Inspect for rub marks on cove base moldings and remove same.

                                       -3-

<PAGE>

V.   LUNCHROOM

     A.   Nightly Schedule

          1.   Wash and sanitize table tops, damp clean seats and backs of
               chairs.
          2.   Clean, polish and refill napkin holders (napkins supplied by
               tenant).
          3.   Empty and damp clean ash trays. Wash as required.
          4.   Empty all containers and disposals. Sanitize interior.
          5.   Wash and sanitize exterior of all containers.
          6.   Clean and sanitize drinking fountain. t
          7.   Dust mop tile floors, making sure that no paper or dust is a
               under any table base.
          8.   Clean table bases as needed.
          9.   Damp mop all tile floors with a disinfectant.
          10.  Vacuum carpets.

     B.   Weekly Schedule

          1.   Wash and sanitize pedestals and legs.
          2.   Remove fingerprints from doors, frames, light switches, kick and
               push plates, and handles.
          3.   Low dust all horizontal surfaces to hand height, including sills,
               moldings, ledges, shelves, frames, ducts, and heating outlets.
          4.   Spot clean the outside glass on showcases.
          5.   Wash and sanitize chairs.

     C.   Monthly Schedule

          1.   High dust above hand height all horizontal surfaces, including
               shelves, ledges, moldings, pipes, ducts, heating out lets.

     D.   As Required

          1.   Clean all plaques, pictures, etc., as needed, so there are
               no-finger marks or dust build-up.

VI.  STAIRCASES

     A.   Nightly Schedule

          1.   Dust and/or wash hand rails.
          2.   Sweep stairs completely, making sure all corners are clean. Wet
               mop when necessary.

                                       -4-

<PAGE>

VII. ELEVATORS

     A.   Nightly Schedule

          1.   Keep wall around signal button clean.
          2.   Dust and rub down elevator doors; inside and outside.
          3.   Dust and rub down walls, metal work in elevator cabs; polishing
               metal surfaces.
          4.   Vacuum all elevator door tracks and keep surfaces clean.
          5.   Properly maintain floors of all elevator cabs.

VIII. TRASH

     A.   Nightly Schedule.

          1.   Remove all waste and transport to designated area.

IX.  GARAGE AREA, ELEVATOR LOBBY

     A.   Nightly Schedule

          1.   Thoroughly vacuum carpet.
          2.   Spot clean partition glass.

     B.   Monthly Schedule

          1.   Thoroughly clean partition glass.

X.   DOCK AREA

     A.   Nightly Schedule

          1.   Police dock wells and floor.

     B.   Weekly Schedule

          1.   Sweep dock wells and floor

XI.  WINDOW CLEANING

     A.   All windows inside and outside shall be cleaned as follows:

          1.   Exterior - All outside perimeter and vestibule windows, inside
               and out, at least three (3) times yearly.

          2.   Interior - All interior windows (including lobby glass inside and
               outside) three (3) times yearly.

                                       -5-

<PAGE>

                                     RIDER C
                            LEGAL DESCRIPTION OF LAND

LOT 1 IN LINCOLNSHIRE CORPORATE CENTER FIFTEENTH RESUBDIVISION, BEING A
RESUBDIVISION OF LOTS 31, 32 AND 33 IN LINCOLNSHIRE CORPORATE CENTER AND LOT 3
IN LINCOLNSHIRE CORPORATE CENTER UNIT 3, IN THE SOUTH EAST 1/4 OF SECTION 22,
TOWNSHIP 43 NORTH, RANGE 11, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO
THE PLAT THEREOF RECORDED DECEMBER 8, 1989 AS DOCUMENT 2858680, IN LAKE COUNTY,
ILLINOIS.

<PAGE>

                                     RIDER D

J OVERLOOK POINT
LINCOLNSHIRE CORPORATE CENTER
INITIAL NET RENTAL / LOAN INTEREST RATE SCHEDULE
NOVEMBER 16, 1389

ASSUMED PROJECT COST LESS LAND                         23,300,000
ASSUMED PROJECT COST INCLUDING LAND                    27,169,541

THE INITIAL NET RENTAL IS DETERMINED BY THE INTEREST RATE OF THE PERMANENT LOAN
FINANCING AS SHOWN ON THE SCHEDULE BELOW

<TABLE>
<CAPTION>
         INTEREST             LOAN            INITIAL NET                             DEBT COVERAGE
           RATE             CONSTANT          RENTAL RATE        LOAN/VALUE             NO VACANCY
-----------------------------------------------------------------------------------------------------
<S>                         <C>               <C>                <C>                  <C>
             8.500           0.0323           2,796,000            75.00%                1.30
             8.623           0.0934           2,796,000            75.00%                1.28
             8.750           0.0945           2,796,000            75.00%                1.27
             8.875           0.0955           2,796,000            75.00%                1.26
             9.000           0.0966           2,796,000            75.00%                1.24
             9.125           0.0977           2,796,000            75.00%                1.23
             9.250           0.0988           2,796,000            75.00%                1.21
             9.375           0.0999           2,796,000            75.00%                1.20
             9.500           0.1010           2,823,960            74.26%                1.20
             9.625           0.1020           2,851,920            73.53%                1.20
             9.750           0.1031           2,882,676            78.74%                1.20
             9.875           0.1043           2,916,228            71.91%                1.20
            10.000           0.1054           2,946,984            71.16%                1.20
            10.125           0.1065           2,977,740            70.42%                1.20
            10.250           0.1076           3,000,456            68.70%                1.20
            10.375           0.1087           3,039,252            69.00%                1.20
            10.500           0.1098           3,070,008            68.31%                1.20
            10.625           0.1109           3,100,764            67.63%                1.20
            10.750           0.1121           3,134,316            66.90%                1.20
            10.875           0.1132           3,165,072            66.25%                1.20
            11.000           0.1143           3,195,838            65.62%                1.20
            11.125           0.1155           3,229,380            64.94%                1.20
            11.250           0.1166           3,260,136            64.32%                1.20
            11.375           0.1177           3,290,892            63.78%                1.20
            11.500           0.1189           3,324,444            63.08%                1.20
</TABLE>

ALL RENT IS ASSUMED TO COMMENCE ON ALL SPACE WITH SIXTY (60) DAYS OF COMPLETION
OF THE SHELL & CORE OR UPON OCCUPANCY, WHICHEVER IS SOONER, BUT NOT LATER THAN A
DATE TO BE DETERMINED

MAXIMUM ACCEPTABLE LOAN TO VALUE IS 75%

MINIMUM ACCEPTABLE DEBT COVERAGE RATIO IS 1.20 WITHOUT VACANCY OR RESERVES

<PAGE>

                                     RIDER E

<TABLE>
<S>                                      <C>                     <C>                                    <C>
OVERLOOK ASSOCIATES
PRO FORMA BUDGET ANALYSIS RENTABLE AREA*                         290,143  PCT FIVE YR LEASES                   0%
3 OVERLOOK POINT                         CONST. LOAN RATE          10.25% PCT TEN YR LEASES                    0%
LINCOLNSHIRE CORP CENTER                 CONSTRUCTION TIME MOS.       15  PCT TWENTY YR LEASES               100%
NOVEMBER 23, 1989                        PAYOUT FACTOR              0.50  PCT LEASES W/COOP BRK                0%
100% OF BUILDING LEASED                  ARCHITECTS FEE  PCT        4.25% NET EFFECTIVE RENTAL             $9.94 - (Assumes interest
BY HEWITT                                TENANT ALLOWANCE          $0.00  SITE SIZE                      595,314    rate of 9.75%)
$23,300,000 ALLOWANCE                    LAND COST/FT.             $6.50  GROSS AREA                     297.657

<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
                                                                                                      $ PER SQ. Ft.
<S>                                        <C>                                                        <C>
LAND COST                                      3,869,541  @  $5.5 SQ. FT. OR AS ESCALATED                  13.34
OFF-SITE EXPENSE                                       0  NOT APPLICABLE                                    0.00
CONSTRUCTION COST                             16,443,075  @ ESTIMATE 56.67 PER SQ. FT. NET RENTABLE A      56.67
ARCHITECTS FEE                                   763,649  @ 4.25% CONSTRUCTION COST                         2.63
TENANT IMPROVEMENTS                                    0  @ NO TENANT IMPROVEMENT ALLOWANCE                 0.00
SPACE PLANNING FEE                                     0  INCLUDED IN TENANT FINISH                         0.00
PERMITS                                           72,000  ALLOWANCE                                         0.29
LANDSCAPING                                      400,000  @ $400,000                                        1.38
PARKING STRUCTURE                              1,525,132  @ PER CURRENT ESTIMATE                            5.26
RENDERINGS                                         2,000  ALLOWANCE - NO MODELS                             0.01
EXCESS FACILITIES CHARGE                          10,000  PAID TO COMMONWEALTH EDISON                       0.03
SIGNAGE ALLOWANCE                                 10,000  DIRECTIONAL SIGNAGE ALLOWANCE                     0.03
BLINDS AND CARRIERS                               45,000  ALLOWANCE                                         0.15
INTERIM INT ON BLDG.                           1,352,455  PRIME -1/4PER ABOVE ASSUMPTIONS **                4.66
INTERIM INT ON LAND                                    0  LAND IS OVERLOOK ASSOCIATES EQUITY                0.00
R.E. TAXES DURING CONSTR.                         21,249  @ 3,000 / ACRE / YEAR                             0.18
UTILITIES DURING CONST.                                0  INCLUDED IN CONSTRUCTION                          0.00
MORTAGE/JV ACQUISITION FEE                       407,750  @ 1 3/4POINTS                                     1.41
INTERIM CONST. LOAN FEE                           58,250  @1/4POINT                                         0.20
HEDGE COST                                        46,600  @ 20 BASIS POINTS                                 0.16
MORTAGE APPRAISAL FEE                             12,500  IF NECESSARY                                      0.04
TITLE/RECORDING/LEGAL                             75,000  ALLOWANCE                                         0.25
R.E. COMMISSIONS                                 828,976  @ 25% DISCOUNT - 10 YR COMMISSION                 2.65
SOIL TESTS                                             0  INCLUDED IN MISC. PROFESSIONAL FEES               0.00
SURVEY                                             6,000  ALTA SURVEY                                       0.02
BUILDERS RISK                                          0  INCLUDED IN CONSTRUCTION                          0.00
ADVERTISING                                            0  NOT APPLICABLE                                    0.00
CONTINGENCIES RESERVE                            303,135  @ $1.04 SQ. FT.                                   1.04
OPERATING RESERVE                                      0  NOT APPLICABLE ***                                0.00
DEVELOPMENT FEE                                  386,954  @ 10% OF LAND VALUE                               1.33
LENDER'S INSPECTION FEE                           17,500  LENDERS ARCHITECT                                 0.65
CONNECTION FEES                                  435,215  @ $1.50 SQ. FT. PAID TO VILLAGE                   1.30
MISC PROFESSIONAL FEES                            30,000  ENGINEERING, INSPECTION, ETC.                     0.10
SECURITY SYSTEM                                  17,5000  ALLOWANCE - CARD ACCESS                           0.05
CARRY                                                  0  NOT APPLICABLE                                    0.00
------------------------------------------------------------------------------------------------------------------------------------
TOTAL PROJECT COST                           $27,169,541                                                   93.64
CONSTRUCTION LOAN AMOUNT                      23,300,000                                                   80.31
LAND ENTITY AMOUNT                             3,869,541                                                   13.34
COST/RENTABLE FOOT                                $93.54
COST/GROSS FOOT                                   $91.28
</TABLE>

<PAGE>

                              THREE OVERLOOK POINT

                            FIRST AMENDMENT TO LEASE

     THIS FIRST AMENDMENT TO LEASE (this "Amendment") is made as of the 28th day
of September, 2001, between LA SALLE BANK NATIONAL ASSOCIATION, not personally
but as Successor Trustee to American National Bank And Trust Company Of Chicago,
under Trust Agreement dated November 6, 1989 and known as Trust No. 109810-09
("Landlord") and HEWITT ASSOCIATES LLC ("Tenant").

                                   WITNESSETH:

     WHEREAS, Landlord and Tenant are parties to a certain Amended and Restated
Lease dated December 1, 1989 under which Lease Landlord demised to Tenant the
entire premises ("Premises") of the building commonly known as Three Overlook
Point, Lincolnshire Corporate Center, Illinois ("Building"); and

     WHEREAS, the parties hereto desire to extend the term of the Lease and to
amend the Lease in certain other respects.

     NOW, THEREFORE, in consideration of the mutual covenants and conditions
contained herein, the Lease is hereby further amended as follows:

     1.  Extended Term. The tern of the Lease is hereby extended to February 28,
2017 on the same terms and conditions as set forth in the Lease, except as
modified herein and unless sooner terminated pursuant to the terns of the Lease.

     2.  Rent. As of May l, 2006 (the "Extended Term Commencement Date"), the
Base Rent payable under the Lease for the entire Premises shall be as follows:

                                       Annual                        Monthly
      Period                          Base Rent                    Installment
      ------                          ---------                    -----------

05/01/06 - 04/30/07                 $4,076,509.15                  $339,709.10
05/01/07 - 04/30/08                 $4,157,749.19                  $346,479.10
05/01/08 - 04/30/09                 $4,241,890.66                  $353,490.89
05/01/09 - 04/30/10                 $4,326,032.13                  $360,502.68
05/01/10 - 04/30/11                 $4,413,075.03                  $367,756.25
05/01/11 - 04/30/12                 $4,500,117.93                  $375,009.83
05/01/12 - 04/30/13                 $4,590,062.26                  $382,505.19
05/01/13 - 04/30/14                 $4,682,908.02                  $390,242.34
05/01/14 - 04/30/15                 $4,775,753.78                  $397,979.48
05/01/15 - 04/30/16                 $4,871,500.97                  $405,958.41
05/01/16 - 02/28/17                 $4,141,791.33                  $414,179.13

     3.  Construction Management Fee. Under Section 6 of the Lease, Landlord is
entitled to a fee for construction management services of five percent (5%) of
the costs of all alterations,

<PAGE>

improvements, or additions to the Premises. Effective immediately, the fee for
construction management services shall only be assessed for work that under
applicable law would require a building permit or construction permit.

     4.  Expenses. Section 2.(a)(iii)(A) of the Lease is amended to provide that
Expenses will include all costs and expenses directly related to the Building
and Land for Operating and cleaning tenant, common and public areas, for
utilities, for the payment of salaries and fringe benefits for personnel below
the grade of building manager (expressly excluding salaries and fringe benefits
for the Building's managing agent's administrative personnel), for removing
snow, ice, and debris, and costs of property damage for Shell and Core and
Tenant Improvements, and liability, rent loss and other insurance. Effective
January 1, 2005, Section 2.(a)(iii)(G) of the Lease is amended to provide that
Expenses will include a management fee for the managing agent of the Building of
three percent (3%) of Landlord's gross receipts from operation of the Building.

     5.  Real Estate Brokers. This Amendment is part of a larger transaction in
which Tenant extended and amended existing leases in the properties commonly
known as One Overlook Point, Two Overlook Point and Three Overlook Point,
Lincolnshire Corporate Center, Lincolnshire, Illinois. Van Vlissingen and Co., a
firm affiliated with Landlord, and U.S. Equities Realty, LLC acted as brokers
and advisors in the larger transaction. The only commissions due Van Vlissingen
and Co. and U.S. Equities Realty, LLC are those set forth in that certain First
Amendment to Lease of even date herewith between LaSalle Bank National
Association, not personally but as Successor Trustee to American National Bank
and Trust Company of Chicago under Trust Agreement dated July 14, 1995 and known
as Trust No. 120607-03 and Tenant for the premises currently known as Two
Overlook Point, Lincolnshire Corporate Center, Lincolnshire, Illinois (the "Two
Overlook Amendment"). Tenant represents that it has dealt only with Van
Vlissingen and Co. and U.S. Equities Realty, LLC as broker in connection with
this Amendment, and that, insofar as Tenant knows, no other broker negotiated
this Amendment or is entitled to any commission in connection therewith. Tenant
agrees to indemnify and hold Landlord harmless from all damages, liability and
expense (including reasonable attorneys' fees) arising from any claims or
demands of any other broker or brokers or finders in connection with its
participating with Tenant in the negotiating of this Amendment and from any
claim by U.S. Equities Realty, LLC for a commission greater or payable at
different times than provided in the Two Overlook Amendment.

     6.  Lease in Full Force and Effect. Except for the provisions of this
Amendment, all the terms, covenants and conditions of the Lease and all the
rights and obligations of Landlord and Tenant thereunder, shall remain in full
force and effect, and are not otherwise altered, amended, revised or changed.

     7.  Estoppel. Tenant hereby acknowledges that as of the date hereof, Tenant
has no known claims arising under the Lease against Landlord or its agents, or
any one or more of the foregoing, and that Tenant knows of no default or failure
on the part of Landlord to keep or perform any covenant, condition or
undertaking to be kept or performed by Landlord under the Lease. Tenant hereby
releases Landlord from any known liability arising under the Lease prior to the
date hereof

                                      -2-

<PAGE>

     8.  Exculpatory Provisions. It is expressly understood and agreed by and
between the parties hereto, anything herein to the contrary notwithstanding,
that each and all of the representations, warranties, covenants, undertakings
and agreements herein made on the part of any Landlord while in form purporting
to be the representations, warranties, covenants, undertakings, and agreements
of such Landlord are nevertheless each and every one of them made and intended,
not as personal representations, warranties, covenants, undertakings, and
agreements by such Landlord or for the purpose or with the intention of binding
such Landlord personally, but are made and intended for the purpose only of
subjecting such Landlord's interest in the Building, the Land and the Premises
to the terms of this Amendment and for no other purpose whatsoever, and in case
of default hereunder by any Landlord (or default through, under, or by any of
its agents or representatives), the Tenant shall look solely to the interests of
such Landlord in the Building and Land; that neither Landlord nor LaSalle Bank
National Association, as Trustee aforesaid, shall have any personal liability to
pay any indebtedness accruing hereunder or to perform any covenant, either
express or implied, herein contained and no liability or duty shall rest upon
any Landlord which is a land trust to sequester the trust estate or the rents,
issues and profits arising therefrom, or the proceeds arising from any sale or
other disposition thereof; that no personal liability or personal responsibility
of any sort is assumed by, nor shall at any time be asserted or enforceable
against, Landlord, LaSalle Bank National Association, as Trustee aforesaid, or
any beneficiaries under any land trust which may become the owner of the
Building, on account of this Amendment or on account of any representation,
warranty, covenant, undertaking or agreement of Landlord in this Amendment
contained, either express or implied, all such personal liability, if any, being
expressly waived and released by Tenant and by all persons claiming by, through,
or under Tenant; and that this Amendment is executed and delivered by the
undersigned Landlord not in its own right, but solely in the exercise of the
powers conferred upon it as such Trustee.

                                      -3-

<PAGE>

     IN WITNESS WHEREOF, the parties have caused this Amendment to be executed
on the date first above written.

                                   LANDLORD:

                                   LA SALLE BANK NATIONAL ASSOCIATION, not
                                   personally, but as Trustee aforesaid, by its
                                   beneficiary

                                     OVERLOOK ASSOCIATES, by its general
                                     partners

                                       HEWITT HOLDINGS LLC

                                       By:  /s/ C.L. Connolly III
                                            -----------------------------------
                                            Its: Authorized Representative
                                                 ------------------------------

                                       TOWER PARKWAY ASSOCIATES, L.L.C.

                                       By: L.L.L. Partnership, a duly authorized
                                       member

                                       By: /s/ Charles R. Lande
                                           ------------------------------------
                                                 Partner

                                   TENANT:

                                   HEWITT ASSOCIATES LLC

                                   By: /s/ C.L. Connolly III
                                       ----------------------------------------
                                       Its: Authorized Representative
                                       ----------------------------------------

                                       -4-<PAGE>

                                                                   Exhibit 10.26

------------------------------------------------------------------------------

                             HEWITT PROPERTIES I LLC

                                   $75,000,000

                Secured Credit Tenant Notes due October 30, 2018

                             NOTE PURCHASE AGREEMENT

                              --------------------

                           Dated as of October 1, 1997

                                                                  PPN: 42823@AA3
--------------------------------------------------------------------------------

<PAGE>

                                TABLE OF CONTENTS

Section                                                                     Page
-------                                                                     ----

1.   AUTHORIZATION OF NOTES; SECURITY.........................................1

2.   SALE AND PURCHASE OF. NOTES..............................................2

3.   CLOSING..................................................................2

4.   CONDITIONS TO CLOSING....................................................2
       4.1.     Representations and Warranties................................2
       4.2.     Performance; No Default.......................................3
       4.3.     Compliance Certificates.......................................3
       4.4.     Opinions of Counsel...........................................3
       4.5.     Purchase Permitted By Applicable Law, etc.....................3
       4.6.     Sale of Other Notes...........................................4
       4.7.     Payment of Special Counsel Fees...............................4
       4.8.     Private Placement Number......................................4
       4.9.     Changes in Organizational Structure...........................4
       4.10.    Operative Agreements..........................................4
       4.11.    Filing and Recording:.........................................4
       4.12.    Title Insurance Policy........................................4
       4.13.    Environmental Reliance Letter.................................5
       4.14.    Proceedings and Documents.....................................5
       4.15.    Conditions to Subsequent Closings.............................5

5.   REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND THE TENANT.............5
       5.1.     Organization; Power and Authority.............................5
       5.2.     Authorization, etc............................................6
       5.3.     Disclosure....................................................6
       5.4.     No Company Subsidiaries; Organization and Ownership of
                Shares of Subsidiaries; Affiliates............................7
       5.5.     Financial Statements..........................................7
       5.6.     Compliance with Laws, Other Instruments, etc..................8
       5.7.     Governmental Authorizations, etc..............................8
       5.8.     Litigation; Observance of Agreements, Statutes and Orders.....8
       5.9.     Taxes.........................................................8
       5.10.    Title to Property; Leases.....................................9
       5.11.    Licenses, Permits, etc........................................9
       5.12.    Compliance with ERISA.........................................9
       5.13.    Private Offering by the Company..............................10

                                        i

<PAGE>

       5.14.    Use of Proceeds; Margin Regulations..........................11
       5.15.    Existing Indebtedness; Future Liens..........................11
       5.16.    Foreign Assets Control Regulations, etc......................11
       5.17.    Status under Certain Statutes................................11
       5.18.    Environmental Matters........................................12
       5.19.    Security Documents...........................................12
       5.20.    Assignments..................................................12

6.   REPRESENTATIONS OF THE PURCHASER........................................13
       6.1.     Purchase for Investment......................................13
       6.2.     Source of Funds..............................................13

7.   INFORMATION AS TO COMPANY AND TENANT....................................14
       7.1.     Financial and Business Information...........................14
       7.2.     Officer's Certificate........................................17
       7.3.     Inspection...................................................17

8.   PREPAYMENT OF THE NOTES.................................................18
       8.1.     Required Prepayments.........................................18
       8.2.     Extraordinary Required Prepayments...........................19
       8.3.     Optional Prepayments with Make-Whole Amount..................19
       8.4.     Allocation of Partial Prepayments............................19
       8.5.     Maturity; Surrender, etc.....................................20
       8.6.     Purchase of Notes............................................20
       8.7.     Make-Whole Amount............................................20

9.   AFFIRMATIVE COVENANTS...................................................21
       9.1.     Compliance with Law..........................................21
       9.2.     Insurance....................................................22
       9.3.     Maintenance of Properties....................................22
       9.4.     Payment of Taxes and Claims..................................22
       9.5.     Existence, etc...............................................22
       9.6.     Nature of Business...........................................23
       9.7.     Compliance with Terms of Operative Agreements:...............23

10.  1NEGATIVE COVENANTS.....................................................23
       10.1.    Transactions with Affiliates.................................23
       10.2.    Merger, Consolidation, etc...................................23
       10.3.    Consolidated Net Capital.....................................24
       10.4.    Funded Indebtedness..........................................24
       10.5.    Current Indebtedness.........................................25
       10.6.    Indebtedness of Restricted Subsidiaries......................25
       10.7.    Liens........................................................25
       10.8.    Lease Amendments.............................................26
       10.9.    Sale of Assets...............................................27
       10.10.   Restricted Subsidiary Stock..................................27

                                       ii

<PAGE>

       10.11.   Distributions................................................28
       10.12.   Amendments to Articles of Organization add Operating
                Agreement....................................................28
       10.13.   Change in Business...........................................28
       10.14.   Permitted Investments........................................28

11.  EVENTS OF DEFAULT.......................................................28

12.  REMEDIES ON DEFAULT, ETC................................................31
       12.1.    Acceleration.................................................31
       12.2.    Other Remedies...............................................31
       12.3.    Rescission...................................................32
       12.4.    No Waivers or Election of Remedies, Expenses, etc............32

13.  1REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES..........................32
       13.1.    Registration of Notes........................................32
       13.2.    Transfer and Exchange of Notes...............................32
       13.3.    Replacement of Notes.........................................33

14.  1PAYMENTS ON NOTES......................................................34
       14.1.    Place of Payment.............................................34
       14.2.    Home Office Payment..........................................34

15.  EXPENSES, ETC...........................................................34
       15.1.    Transaction Expenses.........................................34
       15.2.    Survival.....................................................35

16.  1SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT...........35

17.  1AMENDMENT AND WAIVER...................................................35
       17.1.    Requirements.................................................35
       17.2.    Solicitation of Holders of Notes.............................36
       17.3.    Binding Effect, etc..........................................36
       17.4.    Notes held by Company or the Tenant, etc.....................36

18.  NOTICES.................................................................36

19.  REPRODUCTION OF DOCUMENTS ..............................................37

20.  CONFIDENTIAL INFORMATION ...............................................37

21.  SUBSTITUTION OF PURCHASER ..............................................38

22.  MISCELLANEOUS ..........................................................39
       22.1.    Successors and Assigns ......................................39
       22.2.    Payments Due on Non-Business Days ...........................39

                                       iii

<PAGE>

       22.3.    Severability                                                 39
       22.4.    Construction                                                 39
       22.5.    Counterparts                                                 39
       22.6.    Governing Law                                                39

SCHEDULE A      --  INFORMATION RELATING TO PURCHASES

SCHEDULE B      --  DEFINED TERMS

SCHEDULE C      --  EXISTING INVESTMENTS

SCHEDULE 4.9    --  Changes in Corporate Structure

SCHEDULE 5.3    --  Disclosure Materials

SCHEDULE 5.4    --  Subsidiaries of the Tenant and Ownership of Subsidiary Stock

SCHEDULE 5.5    --  Financial Statements

SCHEDULE 5.8    --  Certain Litigation

SCHEDULE 5.11   --  Patents, etc.

SCHEDULE 5.14   --  Use of Proceeds

SCHEDULE 5.15   --  Existing Indebtedness

SCHEDULE 8.1    --  Required Prepayments

SCHEDULE 10.7   --  Liens

EXHIBIT 1       --  Form of Secured Credit Tenant Note due October 30, 2018

EXHIBIT 4.4     --  Form of Legal Opinions

                                       iv

<PAGE>

                             HEWITT PROPERTIES I LLC

                                100 Half Day Road

                          Lincolnshire, Illinois 60069

                Secured Credit Tenant Notes due October 30, 2018

                                                           as of October 1, 1997

TO EACH OF THE PURCHASERS LISTED IN
         THE ATTACHED SCHEDULE A:

Ladies and Gentlemen:

                  HEWITT PROPERTIES I LLC, a limited liability company organized
under the laws of Illinois (the "Company"), and, for purposes of Sections 4, 5,
7, 9, 10, 11 and 17 only, Hewitt Associates, LLC, a limited liability company
organized under the laws of Illinois (the "Tenant") agree with you as follows:

1.       AUTHORIZATION OF NOTES; SECURITY

                  The Company will authorize the issue and sale of $75,000,000
aggregate principal amount of its Secured Credit Tenant Notes due October 30,
2018 (the "Notes", such term to include any such notes issued in substitution
therefor pursuant to Section 13 of this Agreement). The funding of the Notes
will occur in increments of $15,000,000 on each of the following funding dates:
October 30, 1997, January 30, 1998, April 30, 1998, July 30, 1998 and October
30, 1998 (each individually, a "Funding Date" and collectively the "Funding
Dates"). The Notes issued on the October 30, 1997 and January 30, 1997 Funding
Dates shall bear interest at 7.02% and each of the Notes issued on the
successive Funding Dates shall bear interest from the date of issuance at the
rate of 82 basis points over the appropriate Treasury Rate. The interest rates
on the Notes may be subject to upward adjustment as set forth in Schedule 8.1.
The Notes shall be substantially in the form set out in Exhibit 1, with such
changes therefrom, if any, as may be approved by you and the Company. Certain
capitalized terms used in this Agreement are defined in Schedule B; references
to a "Schedule" or an "Exhibit" are, unless otherwise specified, to a Schedule
or an Exhibit attached to this Agreement.

                  The Notes and this Agreement will be secured by and entitled
to the benefits of (a) the Mortgage, (b) the Assignment of Leases and Rents, and
(c) the Subordination Agreement, each of which will be in the form and substance
satisfactory to you and your special counsel. Prior to Final Project Completion,
the Notes, this Agreement and the Security Documents will be secured by and
entitled to the benefits of the Interim Guaranty pursuant to which the Guarantor
will irrevocably guarantee all of the Company's payment and performance
obligations under the Notes, this Agreement and the Security Documents.

<PAGE>

                  The Company is constructing the Property which, pursuant to
the Lease, will be triple-net leased to Tenant for a term at least
contemporaneous with the maturity of the Notes. Payments by Tenant under the
Lease will be sufficient to cover (i) all costs associated with the Property and
(ii) all payments of principal, interest and Make-Whole Amounts, if any, on the
Notes. Tenant's Lease payments will be paid directly to the Collateral and
Paying Agent, who will, pursuant to the Collateral Agency and Paying Agreement,
make payments on the Notes to the holders of the Notes.

2.       SALE AND PURCHASE OF. NOTES.

                  Subject to the terms and conditions of this Agreement, the
Company will issue and sell to you and you will purchase from the Company, at
the Closing and the Subsequent Closings provided for in Section 3, Notes in the
principal amount specified opposite your name in Schedule A at the purchase
price of 100% of the principal amount thereof. You are referred to herein as a
"Purchaser" and, together with the other purchasers named in Schedule A hereto,
as the "Purchasers." Your obligation hereunder and the obligations of the other
Purchasers are several and not joint obligations and you shall have no
obligation hereunder and no liability to any Person for the performance or
non-performance by any other Purchaser thereunder.

3.       CLOSING.

                  The sale and purchase of the Notes to be purchased by you and
the other Purchasers shall occur at the offices of Gardner, Carton & Douglas,
321 North Clark Street, Chicago, Illinois 60610, at 10:00 a.m., Central Standard
time, at a closing (the "Closing") on October 30, 1997 or on such other Business
Day thereafter on or prior to October 31, 1997 as may be agreed upon by the
Company and you and the other Purchasers. At the Closing and at a closing on
each subsequent Funding Date (each individually, a "Subsequent Closing,"
collectively the "Subsequent Closings"), the Company will deliver to you the
Notes to be purchased by you in the form of a single Note (or such greater
number of Notes in denominations of at least $100,000 as you may request) dated
the date of the Closing or the Subsequent Closing, as the case may be, and
registered in your name (or in the name of your nominee), against delivery by
you to the Company or its order of immediately available funds in the amount of
the purchase price therefor by wire transfer of immediately available funds for
the account of the Company to account number 2874568 at Harris Trust and Savings
Bank, 111 W. Monroe Street, P.O. Box 755, Chicago, IL 60690-0755, ABA
#071000288. If at the Closing the Company shall fail to tender such Notes to you
as provided above in this Section 3, or any of the conditions specified in
Section 4 shall not have been fulfilled to your satisfaction, you shall, at your
election, be relieved of all further obligations under this Agreement, without
thereby waiving any rights you may have by reason of such failure or such
nonfulfillment.

4.       CONDITIONS TO CLOSING.

                  Your obligation to purchase and pay for the Notes to be sold
to you at the Closing is subject to the fulfillment to your satisfaction, prior
to or at the Closing, of the following conditions:

                                        2

<PAGE>

4.1.     Representations and Warranties.

                  The representations and warranties, of the Company and the
Tenant in this Agreement and in the other Operative Agreements shall be correct
when made and at the time of the Closing.

4.2.     Performance; No Default.

                  Each of the Company and the Tenant shall have performed and
complied with all agreements and conditions contained in this Agreement and the
other Operative Agreements required to be performed or complied with by it prior
to or at the Closing and after giving effect to the issue and sale of the Notes
(and the application of the proceeds thereof as contemplated by Schedule 5.14)
no Default or Event of Default shall have occurred and be continuing. None of
the Company, the Tenant or any Subsidiary shall have entered into any
transaction since the date of the Memorandum that would have been prohibited by
Sections 10.1 through 10.11 hereof had the Sections 10.1 through 10.11 applied
since such date.

4.3.     Compliance Certificates.

                  (a)      Officer's Certificate. Each of the Company and the
Tenant shall have delivered to you an Officer's Certificate, dated the date of
the Closing, certifying that the conditions specified in Sections 4.1, 4.2 and
4.9 have been fulfilled.

                  (b)      Secretary's Certificate. Each of the Company and the
Tenant shall have delivered to you a certificate certifying as to the
resolutions attached thereto and other organizational proceedings relating to
the authorization, execution and delivery of the Operative Documents to which it
is a party.

4.4.     Opinions of Counsel.

                  You shall have received opinions in form and substance
satisfactory to you, dated the date of the Closing (a) from C. Lawrence Connolly
III, Esq., counsel for the Company, the Tenant and the Guarantor covering the
matters set forth in Exhibit 4.4(a) and covering such other matters incident to
the transactions contemplated hereby as you or your counsel may reasonably
request (and the Company hereby instructs its counsel to deliver such opinion to
you) and (b) from Gardner, Carton & Douglas, your special counsel in connection
with such transactions, substantially in the form set forth in Exhibit 4.4(b)
and covering such other matters incident to such transactions as you may
reasonably request.

4.5.     Purchase Permitted By Applicable Law, etc.

                  On the date of the Closing your purchase of Notes shall (i) be
permitted by the laws and regulations of each jurisdiction to which you are
subject, without recourse to provisions permitting limited investments by
insurance companies without restriction as to the character of the particular
investment, (ii) not violate any applicable law or regulation (including,
without

                                        3

<PAGE>

limitation, Regulation G, T or X of the Board of Governors of the Federal
Reserve System) and (iii) not subject you to any tax, penalty or liability under
or pursuant to any applicable law or regulation, which law or regulation was not
in effect on the date hereof. If requested by you, you shall have received an
Officer's Certificate certifying as to such matters of fact as you may
reasonably specify to enable you to determine whether such purchase is so
permitted.

4.6.     Sale of Other Notes.

                  Contemporaneously with the Closing the Company shall sell to
the other Purchasers and the other Purchasers shall purchase the Notes to be
purchased by them at the Closing as specified in Schedule A.

4.7.     Payment of Special Counsel Fees.

                  Without limiting the provisions of Section 15.1, the Company
shall have paid on or before the Closing the reasonable fees, charges and
disbursements of your special counsel referred to in Section 4.4 to the extent
reflected in a statement of such counsel rendered to the Company at least one
Business Day prior to the Closing.

4.8.     Private Placement Number.

                  A Private Placement number issued by Standard & Poor's CUSIP
Service Bureau (in cooperation with the Securities Valuation Office of the
National Association of Insurance Commissioners) shall have been obtained for
the Notes.

4.9.     Changes in Organizational Structure.

                  Except as specified in Schedule 4.9, neither the Company nor
the Tenant shall have changed its jurisdiction of formation or been a party to
any merger or consolidation or shall have succeeded to all or any substantial
part of the liabilities of any other entity, at any time following the date of
the most recent financial statements referred to in Schedule 5.5 or delivered
pursuant to Section 7.1 (a) and (b) hereof.

4.10.    Operative Agreements.

                  The Operative Agreements shall be in form and substance
satisfactory to you and your special counsel, shall have been duly executed and
delivered by the parties thereto and, if appropriate duly filed or recorded of
record and shall be in fill force and effect and you shall have received true,
correct and complete copies of each of them. In connection with the Operative
Agreements, the Company shall have delivered to you such title policies,
surveys, environmental audits, UCC searches, financing statements and other
items as shall be reasonably requested by you and which shall be reasonably
satisfactory to you and your special counsel.

                                        4

<PAGE>

4.11.    Filing and Recording:

                  The Security Documents (and/or financing statements or similar
notices thereof if and to the extent permitted or required by applicable law)
shall have been recorded or filed for record in such public offices as may be
deemed necessary or appropriate by you or your special counsel in order to
perfect the Liens and security interests granted or conveyed thereby.

4.12.    Title Insurance Policy.

                  Prior to the Closing Date, the Company shall have obtained
from a title insurance company of national standing and reasonably satisfactory
to you and your special counsel (the "Title Company") a policy of mortgage title
insurance in the standard ALTA form mortgage title insurance policy (Loan Policy
- 1992 Form (with the creditors' rights exception from coverage excluded) with a
lender's comprehensive or like endorsement, an ALTA 3.1 zoning endorsement, an
usury endorsement and such other endorsements as you or your special counsel
deem reasonably necessary or appropriate) and otherwise in form and substance
reasonably satisfactory to you and your special counsel in an aggregate amount
not less than the aggregate principal amount of the Notes, covering the Property
and showing good and indefeasible fee title in the Property to be vested in the
Company subject only to (a) the Lien of the Security Documents, (b) Liens
otherwise permitted by the Security Documents and (c) such other exceptions as
shall be satisfactory to you and your special counsel and insuring the first
lien position of the Mortgage.

4.13.    Environmental Reliance Letter.

                  You shall have received from Boelter Environmental Consultants
an agreement in form and substance reasonably satisfactory to you and your
special counsel stating that the holders of the Notes may rely on the
information contained in the Phase 1 Environmental Site Assessment for the
Property dated March 3, 1997.

4.14.    Proceedings and Documents.

                  . All authorizations and other proceedings in connection with
the transactions contemplated by this Agreement, the Notes and the Operative
Agreements and all documents and instruments incident to such transactions shall
be satisfactory to you and your special counsel, and you and your special
counsel shall have received all such counterpart originals or certified or other
copies of such documents as you or they may reasonably request.

                                        5

<PAGE>

4.15.    Conditions to Subsequent Closings.

                  Your obligation to fund on each of the Funding Dates is
subject to the continued satisfaction on or before each of the Subsequent
Closings of Sections 4.1, 4.2, 4.3(a), 4.5, 4.7, 4.9, 4.12 and 4.14 above.

5.       REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND THE TENANT.

                  Each of the Company and the Tenant severally represent and
warrant to you that:

5.1.     Organization; Power and Authority.

                  Each of the Company and the Tenant is a limited liability
company duly organized, validly existing and in good standing under the laws of
the State of Illinois, and is duly qualified as a foreign limited liability
company and is in good standing in each jurisdiction in which such qualification
is required by law, other than those jurisdictions as to which the failure to be
so qualified or in good standing could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. Each of the Company
and the Tenant has the requisite power and authority to own or hold under lease
the properties it purports to own or hold under lease, to transact the business
it transacts and proposes to transact, to execute and deliver this Agreement,
the Operative Agreements to which it is a party and, in the case of the Company,
the Notes, and to perform the provisions hereof and thereof.

5.2.     Authorization, etc.

                  (a)      This Agreement, the Operative Agreements to which it
is a party and the Notes have been duly authorized by all necessary action on
the part of the Company as required by the Operating Agreement and the Company's
articles of organization, and this Agreement and the Operative Agreements to
which the Company is a party constitute, and upon execution and delivery thereof
each Note will constitute, a legal, valid and binding obligation of the Company
enforceable against the Company in accordance with its terms, except as such
enforceability may be limited by (i) applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting the enforcement of
creditors' rights generally and (ii) general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law).

                  (b)      This Agreement and the Operative Agreements to which
the Tenant is a party have been duly authorized by all necessary action on the
part of the Tenant as required by the Tenant Operating Agreement and Tenant's
articles of organization, and this Agreement and the Operative Agreements to
which the Tenant is a party constitute a legal, valid and binding obligation of
the Tenant enforceable against the Tenant in accordance with its terms, except
as such enforceability may be limited by (i) applicable bankruptcy, insolvency,
reorganization, moratorium or other similar laws affecting the enforcement of
creditors' rights generally and (ii) general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law).

                                        6

<PAGE>

5.3.     Disclosure.

                  The Company, through its agent, BancAmerica Securities Inc.,
has delivered to you and each other Purchaser a. copy of a Private Placement
Memorandum, dated September, 1997 (the "Memorandum"), relating to the
transactions contemplated hereby. The Memorandum fairly describes, in all
material respects, the general nature of the business and principal properties
of the Company, the, Tenant and the Tenant's Subsidiaries. Except as disclosed
in Schedule 5.3, this Agreement, the Memorandum, the documents; certificates or
other writings delivered to you by or on behalf of the Company in connection
with-the transactions contemplated hereby and the financial statements listed in
Schedule 5.5, taken as a whole, do not contain any untrue statement of a
material fact or omit to state any material fact necessary to make the
statements therein not misleading in light of the circumstances under which they
were made. Except as disclosed in the Memorandum or as expressly described in
Schedule 5.3, or in one of the documents, certificates or other writings
identified therein, or in the financial statements listed in Schedule 5.5, since
June 30, 1997, there has been no change in the financial condition, operations,
business, properties or prospects of the Company, the Tenant or any Subsidiary
thereof except changes that individually or in the aggregate could not
reasonably be expected to have a Material Adverse Effect. There is no fact known
to the Company or the Tenant that could reasonably be expected to have a
Material Adverse Effect that has not been set forth herein or in the Memorandum
or in the other documents, certificates and other writings delivered to you by
or on behalf of the Company or the Tenant specifically for use in connection
with the transactions contemplated hereby.

5.4.     No Company Subsidiaries; Organization and Ownership of Shares of
         Subsidiaries; Affiliates.

                  (a)      The Company has no Subsidiaries. Schedule 5.4
contains (except as noted therein) complete and correct lists (i) of the
Company's Affiliates and (ii) the Company's Manager and senior officers.

                  (b)      Schedule 5.4 contains (except as noted therein)
complete and correct lists (i) of the Tenant's Subsidiaries, showing, as to each
such Subsidiary, the correct name thereof, the jurisdiction of its organization,
and the percentage of shares of each class of its capital stock or similar
equity interests outstanding owned by the Tenant and each other Subsidiary, (ii)
of the Tenant's Affiliates, other than Subsidiaries, and (iii) of the Tenant's
Manager and senior officers.

                  (c)      All of the outstanding shares of capital stock or
similar equity interests of each Subsidiary shown in Schedule 5.4 as being owned
by the Tenant and its Subsidiaries have been validly issued, are fully paid and
nonassessable and are owned by the Tenant or another Subsidiary free and clear
of any Lien (except as otherwise disclosed in Schedule 5.4).

                  (d)      Each Subsidiary identified in Schedule 5.4 is a
corporation, limited liability company or other legal entity duly organized,
validly existing and in good standing under the laws of its jurisdiction of
organization, and is duly qualified as a foreign corporation or other legal
entity and is in good standing in each jurisdiction in which such qualification
is required by law,

                                        7

<PAGE>

other than those jurisdictions as to which the failure .to be so qualified or in
good standing could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect. Each such Subsidiary has the
corporate or other power and authority to own or hold under lease the properties
it purports to own or hold under lease and to transact the business it transacts
and proposes to transact. .

                  (e)      No Subsidiary is a party to, or otherwise subject to
any legal restriction or any agreement (other than this Agreement, the
agreements listed on Schedule 5.4 and customary limitations imposed by corporate
law statutes) restricting the ability of such Subsidiary to pay dividends out of
profits or make any other similar distributions of profits to the Tenant or any
of its Subsidiaries that owns outstanding shares of capital stock or similar
equity interests of such Subsidiary.

5.5.     Financial Statements.

                  The Company and the Tenant have delivered to each Purchaser
copies of the consolidated financial statements of the Tenant and the
Subsidiaries and the financial statements of the Company listed on Schedule 5.5.
All of said financial statements (including in each case the related schedules
and notes) fairly present in all material respects the financial position of the
Company, the Tenant and the Subsidiaries as of the respective dates specified in
such Schedule and the results of their operations and cash flows for the
respective periods so specified and have been prepared in accordance with GAAP
consistently applied throughout the periods involved except as set forth in any
notes thereto (subject, in the case of any interim financial statements, to
normal year-end adjustments).

5.6.     Compliance with Laws, Other Instruments, etc.

                  The execution, delivery and performance by the Company and the
Tenant of this Agreement, the Operative Agreements to which the Company or the
Tenant is a party and, in the case of the Company, the Notes will not (i)
contravene, result in any breach of, or constitute a default under, or result in
the creation of any Lien (other than the Liens contemplated by the Operative
Agreements) in respect of any property of the Company, the Tenant or any
Subsidiary under, any indenture, mortgage, deed of trust, loan, purchase or
credit agreement, lease, operating agreement, articles of organization,
corporate charter or by-laws, or any other agreement or instrument to which the
Company, the Tenant or any Subsidiary is bound or by which the Company, the
Tenant or any Subsidiary or any of their respective properties may be bound or
affected, (ii) conflict with or result in a breach of any of the terms,
conditions or provisions of any order, judgment, decree, or ruling of any court,
arbitrator or Governmental Authority applicable to the Company, the Tenant or
any Subsidiary or (iii) violate any provision of any statute or other rule or
regulation of any Governmental Authority applicable to the Company, the Tenant
or any Subsidiary. The Company is not in default or in violation of any Material
term or provision of its Operating Agreement. The Tenant is not in default or in
violation of any Material term or provision of the Tenant Operating Agreement.

                                        8

<PAGE>

5.7.     Governmental Authorizations, etc.

                  No consent, approval or authorization of, or registration,
filing or declaration with, any Governmental Authority is required in connection
with the execution, delivery or performance by the Company or the Tenant of this
Agreement, the Operative Agreements to. which the Company or the Tenant is a
party or, in the case of the Company, the Notes, other than customary filings
and/or recordings of certain of the Security Documents.

5.8.     Litigation; Observance of Agreements, Statutes and Orders.

                  (a)      Except as disclosed in Schedule 5.8, there are no
actions, suits or proceedings pending or, to the knowledge of the Company or the
Tenant, threatened against or affecting the Company, the Tenant or any
Subsidiary or any property of the Company, the Tenant or any Subsidiary in any
court or before any arbitrator of any kind or before or by any Governmental
Authority that, individually or in the aggregate, could reasonably be expected
to have a Material Adverse Effect.

                  (b)      None of the Company, the Tenant or any Subsidiary is
in default under any term of any agreement or instrument to which it is a party
or by which it is bound, or any order, judgment, decree or ruling of any court,
arbitrator or Governmental Authority or is in violation of any applicable law,
ordinance, rule or regulation (including without limitation Environmental Laws)
of any Governmental Authority, which default or violation, individually or in
the aggregate, could reasonably be expected to have a Material Adverse Effect.

5.9.     Taxes.

                  The Company, the Tenant and the Subsidiaries have filed all
Tax Returns that are required to have been filed in any jurisdiction and sent
all Tax Returns to any party as required under applicable law or regulation, and
have paid all Taxes shown to be due and payable on such returns and all other
Taxes to the extent such Taxes have become due and payable and before they have
become delinquent, except for any Taxes (i) the amount of which is not
individually or in the aggregate Material or (ii) the amount, applicability or
validity of which is currently being contested in good faith by appropriate
proceedings and with respect to which the Company, the Tenant or a Subsidiary,
as the case may be, has established adequate reserves in accordance with GAAP.
Neither the Company nor the Tenant knows of any basis for any Tax that could
reasonably be expected to have a Material Adverse Effect. The charges, accruals
and reserves on the books of the Company, the Tenant and the Subsidiaries in
respect of Taxes for all fiscal periods are adequate. Each of the Company and
the Tenant is properly treated as a partnership for, and is not taxable as, a
corporation for Federal income tax purposes.

5.10.    Title to Property; Leases.

                  The Company, the Tenant and the Subsidiaries have good and
sufficient title to their respective properties that individually or in the
aggregate are Material, including all such properties reflected in the most
recent audited balance sheet referred to in Section 5.5 or purported to have
been acquired by the Company, the Tenant or any Subsidiary after said date

                                        9

<PAGE>

(except as sold or otherwise disposed of in the ordinary course of business), in
each case free and clear of Liens prohibited by this Agreement or the other
Operative Agreements. The Lease and all leases that individually or in the
aggregate -are Material are valid and subsisting and are in full force and
effect in all material respects.

5.11.    Licenses, Permits, etc.

                  Except as disclosed in Schedule 5.11,

                  (a)      the Company, the Tenant and the Subsidiaries own or
         possess all licenses, permits, franchises, authorizations, patents,
         copyrights, service marks, trademarks and trade names, or rights
         thereto, that individually or in the aggregate are Material, without
         known conflict with the rights of others;

                  (b)      to the best knowledge of the Company and the Tenant,
         no product of the Company or the Tenant infringes in any material
         respect any license, permit, franchise, authorization, patent,
         copyright, service mark, trademark, trade name or other right owned by
         any other Person; and

                  (c)      to the best knowledge of the Company and the Tenant,
         there is no Material violation by any Person of any right of the
         Company, the Tenant or any of its Subsidiaries with respect to any
         patent, copyright, service mark, trademark, trade name or other right
         owned or used by the Company, the Tenant or any of its Subsidiaries.

5.12.    Compliance with ERISA.

                  (a)      The Company, the Tenant and each ERISA Affiliate have
operated and administered each Plan in compliance with all applicable laws
except for such instances of noncompliance as have not resulted in and could not
reasonably be expected to result in a Material Adverse Effect. None of the
Company, the Tenant or any ERISA Affiliate has incurred any liability pursuant
to Title I or IV of ERISA or the penalty or excise tax provisions of the Code
relating to employee benefit plans (as defined in Section 3 of ERISA), and no
event, transaction or condition has occurred or exists that could reasonably be
expected to result in the incurrence of any such liability by the Company, the
Tenant or any ERISA Affiliate, or in the imposition of any Lien on any of the
rights, properties or assets of the Company, the Tenant or any ERISA Affiliate,
in either case pursuant to Title I or IV of ERISA or to such penalty or excise
tax provisions or to Section 401(a)(29) or 412 of the Code, other than such
liabilities or Liens as would not be individually or in the aggregate Material.

                  (b)      The present value of the aggregate benefit
liabilities under each of the Plans (other than Multiemployer Plans), determined
as of the end of such Plan's most recently ended plan year on the basis of the
actuarial assumptions specified for funding purposes in such Plan's most recent
actuarial valuation report, did not exceed the aggregate current value of the
assets of such Plan allocable to such benefit liabilities by more than $500,000
in the case of any single Plan and by more than $500,000 in the aggregate for
all Plans. The term "benefit liabilities" has the

                                       10

<PAGE>

meaning specified in section 4001 of ERISA and the terms "current value" and
"present value" have the meaning specified in section 3 of ERISA.

                  (c)      The Company, the Tenant and the ERISA Affiliates have
not incurred withdrawal liabilities (and are not subject to contingent
withdrawal liabilities) under section 4201 or 4204 of ERISA in respect of
Multiemployer Plans that individually or in the aggregate are Material.

                  (d)      The accumulated postretirement benefit obligation
(determined as of September 30, 1996 in accordance with Financial Accounting
Standards Board Statement No. 106, without regard to liabilities attributable to
continuation coverage mandated by section 4980B of the Code) of the Company, the
Tenant and the Subsidiaries does not exceed $1,600,000.

                  (e)      The execution and delivery of this Agreement and the
Operative Agreements and the issuance and sale of the Notes will not involve any
transaction that is subject to the prohibitions of section 406 of ERISA or in
connection with which a tax could be imposed pursuant to section
4975(c)(1)(A)-(D) of the Code. The representation by the Company and the Tenant
in the first sentence of this Section 5.12(e) is made in reliance upon and
subject to the accuracy of your representation in Section 6.2 as to the sources
of the funds used to pay the purchase price of the Notes to be purchased by you.

                  (f)      All Foreign Pension Plans have been established,
operated, administered and maintained in compliance with all laws, regulations
and orders applicable thereto except for such failures to comply that, in the
aggregate for all such failures, could not reasonably be expected to have a
Material Adverse Effect. All premiums, contributions and any other amounts
required by applicable Foreign Pension Plan documents or applicable laws have
been paid or accrued as required, except for premiums, contributions and amounts
that, in the aggregate for all such obligations, could not reasonably be
expected to have a Material Adverse Effect.

5.13.    Private Offering by the Company.

                  Neither the Company nor anyone acting on its behalf has
offered the Notes or any similar securities for sale to, or solicited any offer
to buy any of the same from, or otherwise approached or negotiated in respect
thereof with more than 34 Institutional Investors (including the Purchasers),
each of which has been offered the Notes at a private sale for investment.
Neither the Company nor anyone acting on its behalf has taken, or will take, any
action that would subject the issuance or sale of the Notes to the registration
requirements of Section 5 of the Securities Act.

5.14.    Use of Proceeds; Margin Regulations.

                  The Company will apply the proceeds of the sale of the Notes
as set forth in Schedule 5.14. No part of the proceeds from the sale of the
Notes hereunder will be used, directly or indirectly, for the purpose of buying
or carrying any margin stock within the meaning of Regulation G of the Board of
Governors of the Federal Reserve System (12 CFR 207), or for the purpose of
buying or carrying or trading in any securities under such circumstances as to

                                       11

<PAGE>

involve the Company in a violation of Regulation X of said Board (12 CFR 224) or
to involve any broker or dealer in a violation of Regulation T of said Board (12
CFR 220): The Company, as of the date of Closing, owns no margin stock and the
Company does not have any present intention that margin stock will constitute
more than 5% of the value of the consolidated assets of the Company. As used in
this Section, the terms "margin stock" and "purpose of buying or carrying" shall
have the meanings assigned to them in said Regulation G.

5.15.    Existing Indebtedness; Future Liens.

                  (a)      Except as described therein, Schedule 5.15 sets forth
a complete and correct list of all outstanding Indebtedness of the Company, the
Tenant and the Subsidiaries as of the date of Closing. None of the Company, the
Tenant or any Subsidiary is in default and no waiver of default is currently in
effect, in the payment of any principal or interest on any Indebtedness of the
Company, the Tenant or such Subsidiary and no event or condition exists with
respect to any Indebtedness of the Company, the Tenant or any Subsidiary that
would permit (or that with notice or the lapse of time, or both, would permit)
one or more Persons to cause such Indebtedness to become due and payable before
its stated maturity or before its regularly scheduled dates of payment.

                  (b)      Except as disclosed in Schedule 5.15, none of the
Company, the Tenant or any Subsidiary has agreed or consented to cause or permit
in the future (upon the happening of a contingency or otherwise) any of its
property, whether now owned or hereafter acquired, to be subject to a Lien not
permitted by Section 10.7.

5.16.    Foreign Assets Control Regulations, etc.

                  Neither the sale of the Notes by the Company hereunder nor its
use of the proceeds thereof will cause the Company to violate the Trading with
the Enemy Act, as amended, or any of the foreign assets control regulations of
the United States Treasury Department (31 CFI;, Subtitle B, Chapter V, as
amended) or any enabling legislation or executive order relating thereto.

5.17.    Status under Certain Statutes.

                  None of the Company, the Tenant or any Subsidiary is subject
to regulation under the Investment Company Act of 1940 (except with respect to
certain investment advisory services performed by the Tenant), as amended, the
Public Utility Holding Company Act of 1935, as amended, the Interstate Commerce
Act, as amended, or the Federal Power Act, as amended.

5.18.    Environmental Matters.

                  None of the Company, the Tenant or any Subsidiary has
knowledge of any claim or has received any notice of any claim, and no
proceeding has been instituted raising any claim against the Company, the Tenant
or any of the Subsidiaries or any of their respective real properties now or
formerly owned, leased or operated by any of them or other assets, alleging any
damage to the environment or violation of any Environmental Laws, except, in
each case, such as

                                       12

<PAGE>

could not reasonably be expected to result in a Material Adverse Effect. Except
as otherwise disclosed to you in the Boelter Environmental Consultants' Phase 1
Environmental Site Assessment for the Property dated March 3, 1997:

                           (a)      None of the Company, the Tenant or any
                  Subsidiary has knowledge of any facts which would give rise to
                  any claim, public or private, of violation of Environmental
                  Laws or damage to the environment emanating from, occurring on
                  or in any way related to real properties now or formerly
                  owned, leased or operated by any of them or to other assets or
                  their use, except, in each case, such as could not reasonably
                  be expected to result in a Material Adverse Effect;

                           (b)      None of the Company, the Tenant or any of
                  the Subsidiaries has stored any Hazardous Materials on real
                  properties now or formerly owned, leased or operated by any of
                  them and has not disposed of any Hazardous Materials in a
                  manner contrary to any Environmental Laws in each case in any
                  manner that could reasonably be expected to result in a
                  Material Adverse Effect; and

                           (c)      all buildings on all real properties now
                  owned, leased or operated by the Company, the Tenant or any of
                  the Subsidiaries are in compliance with applicable
                  Environmental Laws, except where failure to comply could not
                  reasonably be expected to result in a Material Adverse Effect.

5.19.    Security Documents.

                  The Mortgage is effective to grant to the Collateral and
Paying Agent, as agent on behalf of the Purchasers, a legal, valid and
enforceable first mortgage Lien on the Property. Upon recording with and payment
of recording fees to the Lake County Recorder of Deeds, the Collateral and
Paying Agent, as agent, for the Purchasers, will have a fully perfected first
priority Lien on the Property subject only to Liens permitted under Section 10.7
of this Agreement.

5.20.    Assignments.

                  The Assignment of Leases and Rents is effective to assign to
the Collateral and Paying Agent, on behalf of the holders of the Notes, the
rights of the Company and the payments due to the Company under the Lease. Upon
recording with and payment of recording fees to the Lake County Recorder of
Deeds, there will be a fully perfected first position assignment of leases and
rents.

6.       REPRESENTATIONS OF THE PURCHASER.

6.1.     Purchase for Investment.

                  You represent that you are purchasing the Notes for your own
account or for one or more separate accounts maintained by you or for the
account of one or more pension or trust funds and not with a view to the
distribution thereof, provided that the disposition of your or their property
shall at all times be within your or their control. You understand that the
Notes have not

                                       13

<PAGE>

been registered under the Securities Act and may be resold only. if registered.
pursuant to the provisions of the Securities Actor if an exemption from
registration is available, except under circumstances where neither such
registration nor such an exemption is required by law, and that the Company is
not required to register the Notes.

6.2.     Source of Funds.

                  You represent that at least one of the following statements is
an accurate representation as to each source of funds (a "Source") to be used by
you to pay the purchase price of the Notes to be purchased by you hereunder:

                  (a)      if you are an insurance company, the Source does not
         include assets allocated to any separate account maintained by you in
         which any employee benefit plan (or its related trust) has any
         interest, other than a separate account that is maintained solely in
         connection with your fixed contractual obligations under which the
         amounts payable, or credited, to such plan and to any participant or
         beneficiary of such plan (including any annuitant) are not affected in
         any manner by the investment performance of the separate account;

                  (b)      the Source is either (i) an insurance company pooled
         separate account, within the meaning of Prohibited Transaction
         Exemption ("PTE") 90-1 (issued January 29, 1990), or (ii) a bank
         collective investment fund, within the meaning of the PTE 91-38 (issued
         July 12, 1991) and, except as you have disclosed to the Company in
         writing pursuant to this paragraph (b), no employee benefit plan or
         group of plans maintained by the same employer or employee organization
         beneficially owns more than 10% of all assets allocated to such pooled
         separate account or collective investment fund;

                  (c)      the Source constitutes assets of an "investment fund"
         (within the meaning of Part V of the QPAM Exemption) managed by a
         "qualified professional asset manager" or "QPAM" (within the meaning of
         Part V of the QPAM Exemption), no employee benefit plan's assets that
         are included in such investment fund, when combined with the assets of
         all other employee benefit plans established or maintained by the same
         employer or by an affiliate (within the meaning of Section V(c)(1) of
         the QPAM Exemption) of such employer or by the same employee
         organization and managed by such QPAM, exceed 20% of the total client
         assets managed by such QPAM, the conditions of Part I(c) and (g) of the
         QPAM Exemption are satisfied, neither the QPAM nor a person controlling
         or controlled by the QPAM (applying the definition of "control" in
         Section V(e) of the QPAM Exemption) owns a 5% or more interest in the
         Company and (i) the identity of such QPAM and (ii) the names of all
         employee benefit plans whose assets are included in such investment
         fund have been disclosed to the Company in writing pursuant to this
         paragraph (c);

                  (d)      the Source is a governmental plan;

                                       14

<PAGE>

                  (e)      DUE TO THE NATURE OF THE COMPANY'S AND THE TENANT'S..
         BUSINESS PURCHASERS SHOULD NOT RELY ON THIS SECTION 6.2(E) AS THE
         SOURCE. The Source is one or more employee benefit plans, or a separate
         account or trust fund comprised of one or more employee benefit plans,
         each of which has been identified to the Company in writing pursuant to
         this paragraph (e);

                  (f)      the Source does not include assets of any employee
benefit plan, other than a plan exempt from the coverage of ERISA; or

                  (g)      if you are an insurance company and the Source
includes assets of your general account, the acquisition of the Notes by the
Purchaser is exempt under PTE 95-60 (issued July 12, 1995).

As used in this Section 6.2, the terms "employee benefit plan", "governmental
plan", "party in interest" and "separate account" shall have the respective
meanings assigned to such terms in Section 3 of ERISA.

7.       INFORMATION AS TO COMPANY AND TENANT.

7.1.     Financial and Business Information

                  The Company or the Tenant shall deliver to each holder of
Notes that is an Institutional Investor:

                  (a)      Quarterly Statements -- within 60 days after the end
         of each quarterly fiscal period in each fiscal year of the Tenant
         (other than the last quarterly fiscal period of each such fiscal year),
         duplicate copies of,

                           (i)      a consolidated balance sheet of the Tenant
                  and its Subsidiaries as at the end of such quarter, and

                           (ii)     consolidated statements of income, expenses,
                  cash flows and, if prepared by the Tenant in connection with
                  its quarterly financial statements, statements of changes in
                  capital of the Tenant and its Subsidiaries, for such quarter
                  and (in the case of the second and third quarters) for the
                  portion of the fiscal year ending with such quarter,

         setting forth in each case in comparative form the figures for the
         corresponding periods in the previous fiscal year, all in reasonable
         detail, prepared in accordance with GAAP applicable to quarterly
         financial statements generally, and certified by a Senior Financial
         Officer as fairly presenting, in all material respects, the financial
         position of the companies

                                       15

<PAGE>

         being reported on and then results of operations and cash flows,
         subject to changes resulting from year-end adjustments; i

                  (b)      Annual Statements of the Tenant -- within 90 days
         after the end of each fiscal year of the Tenant, duplicate copies of,

                           (i)      a consolidated balance sheet of the Tenant
                  and its Subsidiaries, as at the end of such year, and

                           (ii)     consolidated statements of income, expenses,
                  cash flows and, if prepared by the Tenant in connection with
                  its annual audited financial statements, statements of changes
                  in capital of the Tenant and its Subsidiaries, for such year,

setting forth in each case in comparative form the figures for the previous
fiscal year, all in reasonable detail, prepared in accordance with GAAP, and
accompanied (degree)

                           (A)      by an opinion thereon of independent
                  certified public accountants of recognized national standing,
                  Which opinion' shall state that such financial statements
                  present fairly, in all material respects, the financial
                  position of the companies being reported upon and their
                  results of operations and cash flows and have been prepared in
                  conformity with GAAP, and that the examination of such
                  accountants in connection with such financial statements has
                  been made in accordance with generally accepted auditing
                  standards, and that such audit provides a reasonable basis for
                  such opinion in the circumstances, and

                           (B)      a certificate of such accountants stating
                  that they have reviewed this Agreement and stating further
                  whether, in making their audit, they have become aware of any
                  condition or event that then constitutes a Default or an Event
                  of Default, and, if they are aware that -any such condition or
                  event then exists, specifying the nature and period of the
                  existence thereof (it being understood that such accountants
                  shall not be liable, directly or indirectly, for any failure
                  to obtain knowledge of any Default or Event of Default unless
                  such accountants should have obtained knowledge thereof in
                  making an audit in accordance with generally accepted auditing
                  standards or did not make such an audit),

                  (c)      SEC and Other Reports -- if applicable, promptly upon
         their becoming available, one copy of any of the following which are
         publicly available: (i) each financial statement, report, notice or
         proxy statement sent by the Company, the Tenant or any Subsidiary to
         public securities holders generally, and (ii) each regular or periodic
         report (other than reports arising from the Tenant's investment
         advisory and transfer agency services), each registration statement
         (without exhibits except as expressly requested by such holder), and
         each prospectus and all amendments thereto filed by the Company, the
         Tenant or any Subsidiary with the Securities and Exchange Commission
         and of all press releases and other statements made available generally
         by the Company, the Tenant or any Subsidiary to the public concerning
         developments that are Material;

                                       16

<PAGE>

                  (d)      Notice of Default or Event of Default -- promptly,
         and in any event within five days after a Responsible Officer becoming
         aware of the existence of any Default or Event of Default or that any
         Person has given any notice or taken any action with respect to a
         claimed default hereunder or that any Person has given any notice or
         taken any action with respect to a claimed default of the type referred
         to in Section 1 I (f), a written notice specifying the nature and
         period of existence thereof and what action the Company or the Tenant
         is taking or proposes to take with respect thereto;

                  (e)      ERISA Matters -- promptly, and in any event within
         five days after a Responsible Officer becoming aware of any of the
         following, a written notice setting forth the nature thereof and the
         action, if any, that the Company, the Tenant or an ERISA Affiliate
         proposes to take with respect thereto:

                           (i)      with respect to any Plan, any reportable
                  event, as defined in section 4043(b) of ERISA and the
                  regulations thereunder, for which notice thereof has not been
                  waived pursuant to such regulations as in effect on the date
                  hereof;

                           or (ii)  the taking by the PBGC of steps to
                  institute, or the threatening by the PBGC of the institution
                  of, proceedings under section 4042 of ERISA for the
                  termination of, or the appointment of a trustee to administer,
                  any Plan, or the receipt by the [Company, the Tenant or any
                  ERISA Affiliate] of a notice from a Multiemployer Plan that
                  such action has been taken by the PBGC with respect to such
                  Multiemployer Plan; or

                           (iii)    any event, transaction or condition that
                  could result in the incurrence of any liability by the
                  Company, Tenant or any ERISA Affiliate pursuant to Title I or
                  IV of ERISA or the penalty or excise tax provisions of the
                  Code relating to Plans, or in the imposition of any Lien on
                  any of the rights, properties or assets of the Company, the
                  Tenant or any ERISA Affiliate pursuant to Title I or IV of
                  ERISA or such penalty or excise tax provisions, if such
                  liability or Lien, taken together with any other such
                  liabilities or Liens then existing, could reasonably be
                  expected to have a Material Adverse Effect;

                  (f)      Notices from Governmental Authority -- promptly, and
         in any event within 30 days of receipt thereof, copies of any notice to
         the Company, the Tenant or any Subsidiary from any Federal or state
         Governmental Authority relating to any order, ruling, statute or other
         law or regulation that could reasonably be expected to have a Material
         Adverse Effect;

                  (g)      Restricted Subsidiary Status -- promptly, and in any
         event within ten days of the occurrence thereof, the designation of an
         Unrestricted Subsidiary of Tenant as a Restricted Subsidiary of Tenant;

                                       17

<PAGE>

                  (h)      Lease Status -- on or before October 30, 1998;.
         notice as to whether "Office Completion" (as defined in the Lease) has
         been achieved and on or before July 31, 1999 notice as to whether Final
         Project Completion has been achieved; and

                  (i)      Requested Information -- with reasonable promptness,
         such other data and information relating to the business, operations,
         affairs, financial condition, assets or properties of the Company, the
         Tenant or any of the Subsidiaries or relating to the ability of the
         Company or the Tenant to perform its respective obligations hereunder,
         under the Operative Agreements to which each is a party, and, in the
         case of the Company only, under the Notes as from time to time may be
         reasonably requested by any such holder of Notes.

7.2.     Officer's Certificate.

                  Each set of financial statements delivered to a holder of
Notes pursuant to Section 7.1 (a) or Section 7.1 (b) hereof shall be accompanied
by a certificate of a Senior Financial Officer of each of the Company and the
Tenant, as applicable, setting forth:

                  (a)      Covenant Compliance -- the information (including
         detailed calculations) required in order to establish whether the
         Tenant or the Company, as applicable, was in compliance with the
         requirements of Section 10.2 through Section 10.11 hereof, inclusive,
         during the quarterly or annual period covered by the statements then
         being furnished (including with respect to each such Section, where
         applicable, the calculations of the maximum or minimum amount, ratio or
         percentage, as the case may be, permissible under the terms of such
         Sections, and the calculation of the amount, ratio or percentage then
         in existence); and

                  (b)      Event of Default -- a statement that each such
         officer has reviewed the relevant terms hereof and has made, or caused
         to be made, under his or her supervision, a' review of the transactions
         and conditions of the Company, the Tenant and the Subsidiaries from the
         beginning of the quarterly or annual period covered by the statements
         then being furnished to the date of the certificate and that such
         review shall not have disclosed the existence during such period of any
         condition or event that constitutes a Default or an Event of Default
         or, if any such condition or event existed or exists (including,
         without limitation, any such event or condition resulting from the
         failure of the Company, the Tenant or any Subsidiary to comply with any
         Environmental Law), specifying the nature and period of existence
         thereof and what action the Company or the Tenant shall have taken or
         proposes to take with respect thereto.

7.3.     Inspection.

                  The Company and the Tenant shall permit the representatives of
each holder of Notes that is an Institutional Investor:

                                       18

<PAGE>

                  (a)      No Default- if no Default or Event of Default then
         exists, at the expense of such holder and upon reasonable prior notice
         to the Company or the Tenant, as applicable, to visit the respective
         principal executive office of the Company or the Tenant, to discuss the
         affairs, finances and accounts of the Company, the Tenant and the
         Subsidiaries with the respective officers of the Company and the
         Tenant, and (with the consent of the Company and the Tenant, which
         consent will not be unreasonably withheld) their respective independent
         public accountants, and (with the consent of the Company and the
         Tenant, which consent will not be unreasonably withheld) to visit the
         other offices and properties of the Company, the Tenant and each
         Subsidiary, all at such reasonable times and as often as may be
         reasonably requested in writing; and

                  (b)      Default -- if a Default or Event of Default then
         exists, at the expense of the Company or the Tenant, as applicable, to
         visit and inspect any of the offices or properties of the Company, the
         Tenant or any Subsidiary, to examine all their respective books of
         account, records, reports and other papers, to make copies and extracts
         therefrom, and to discuss their respective affairs, finances and
         accounts with their respective officers and independent public
         accountants (and by this provision the Company and the Tenant authorize
         said accountants to discuss the affairs, finances and accounts of the
         Company, the Tenant and Subsidiaries), all at such times and as often
         as may be requested.

8.       PREPAYMENT OF THE NOTES

8.1.     Required Prepayments.

                  (a)      On the thirtieth (30th) day of each month, commencing
November 30, 1998 and continuing through and including September 30, 2018, the
Company will prepay principal on the Notes as set forth on Schedule 8.1 attached
hereto (together with accrued and unpaid interest thereon in accordance with
Schedule 8.1 and the Notes) and without payment of the Make-Whole Amount or any
premium, provided that upon any partial prepayment of the Notes pursuant to
Section 8.1(b), Section 8.1(c), Section 8.1(d), Section 8.1(e), Section 8.2 or
Section 8.3 or purchase of the Notes permitted by Section 8.6 the amount of each
required prepayment of the Notes becoming due under this Section 8.1(a) on and
after the date of such prepayment or purchase shall be recalculated and reduced
based on the aggregate unpaid principal amount of Notes outstanding, the stated
interest rate and the then existing remaining life to maturity and a new
Schedule 8.1 shall be attached hereto.

                  (b)      Upon the Tenant's exercise of the Option (as defined
in the Lease) to purchase the Property, the Company shall, upon notice as
provided below, prepay the entire principal amount of the Notes outstanding
together with accrued interest thereon to the date of prepayment and any
Make-Whole Amount.

                  (c)      Upon the occurrence of the condemnation, taking by
exercise of the power of eminent domain, or a deed in lieu of the foregoing (a
"Taking"), of the entire amount of the Property, the Company shall, upon notice
as provided below, prepay the entire principal amount

                                       19

<PAGE>

of the Notes, together with interest accrued -thereon to. the date of
prepayment, without payment of the Make-Whole Amount.

                  (d)      Upon the occurrence of a Taking of less than the
entire Property but more than 15% of the floor area of the Improvements (as
defined in the Lease), or more than 50% of the Land (as defined in the Lease)
(but exclusive of Phase 2, as defined in the Lease), the Company shall, upon
notice as provided below, prepay the principal amount of the Notes, together
with accrued interest thereon to the date of prepayment, in an amount equal to
the total award for such partial Taking without payment of the Make-Whole
Amount. Subject to the terms of the Lease, the remaining scheduled principal and
interest payments shall be reduced on a prorata basis for the remaining term of
the Notes. Notwithstanding the foregoing, in the event the Tenant has satisfied
the conditions of paragraph 17B of the Lease and has the right to terminate the
balance of the Lease, Company shall, upon notice provided below, prepay the
entire principal amount of the Notes, together with interest accrued thereon to
the date of prepayment without payment of the Make-Whole Amount.

                  (e)      Upon the occurrence of a Taking other than as
described in subsection (c) or (d) above, the Company shall, upon notice as
provided below, prepay the principal amount of the Notes, together with accrued
interest thereon to the date of prepayment, in an amount equal the total award
for such partial Taking, without payment of the Make-Whole Amount.

                  The Company will give each holder of Notes written notice of
each prepayment under this Section 8.1 not less than 30 days and not more than
60 days prior to the date fixed for such payment. Each such notice shall specify
such date the aggregate principal amount of the Notes to be prepaid on such
date, and the principal amount of each Note held by such holder to be prepaid
(determined in accordance with Section 8.4).

8.2.     Extraordinary Required Prepayments.

                  If the Final Project Completion has not occurred by July 31,
2000, each of the holders of the Notes shall have the right, at its option, to
be prepaid all or a portion of the outstanding principal amount of each Note
held by such holder, plus interest on such principal amount accrued to the
prepayment date and the Make-Whole Amount, if any.

8.3.     Optional Prepayments with Make-Whole Amount.

                  The Company may, at its option, upon notice as provided below,
prepay at any time all, or from time to time any part of, the Notes, in an
amount not less than $5,000,000 or integral multiples of $100,000 in excess
thereof (or such lesser amount as shall then be outstanding) in the case of a
partial prepayment, at 100% of the principal amount so prepaid, plus interest on
such principal amount accrued to the prepayment date and the Make-Whole Amount
determined for the prepayment date with respect to such principal amount. The
Company will give each holder of Notes written notice of each optional
prepayment under this Section 8.3 not less than 30 days and not more than 60
days prior to the date fixed for such prepayment. Each such notice shall specify
such date, the aggregate principal amount of the Notes to be prepaid on such
date, the principal amount of each Note held by such holder to be prepaid
(determined in

                                       20

<PAGE>

accordance with Section 8.4), and the interest to be paid on the prepayment date
with respect to such principal amount being prepaid, and shall, be accompanied
by a certificate of a Senior Financial Officer as to the estimated Make-Whole
Amount due in connection with such prepayment (calculated as if the date of such
notice were the date of the prepayment), setting forth the details of such
computation. Two Business Days prior to such prepayment, the Company shall
deliver to each holder of Notes a certificate of a Senior Financial Officer
specifying the calculation of such Make-Whole Amount as of the specified
prepayment date.

8.4.     Allocation of Partial Prepayments.

                  In the case of each partial prepayment of the Notes, the
principal amount of the Notes to be prepaid shall be allocated among all of the
Notes at the time outstanding in proportion, as nearly as practicable, to the
respective unpaid principal amounts thereof not theretofore called for
prepayment.

8.5.     Maturity; Surrender, etc.

                  In the case of each prepayment of Notes pursuant to this
Section 8, the principal amount of each Note to be prepaid shall mature and
become due and payable on the date fixed for such prepayment, together with
interest on such principal amount accrued to such date and the applicable
Make-Whole Amount, if any. From and after such date, unless the Company shall
fail to pay such principal amount when so due and payable, together with the
interest and Make Whole Amount, if any, as aforesaid, interest on such principal
amount shall cease to accrue. Any Note paid or prepaid in full shall be
surrendered to the Company and canceled and shall not be reissued, and no Note
shall be issued in lieu of any prepaid principal amount of any Note.

8.6.     Purchase of Notes.

                  The Company will not and will not permit any Affiliate
(including but not limited to the Tenant) to purchase, redeem, prepay or
otherwise acquire, directly or indirectly, any of the outstanding Notes except
upon the payment or prepayment of the Notes in accordance with the terms of this
Agreement and the Notes. The Company will promptly cancel all Notes acquired by
it or any Affiliate pursuant to any payment, prepayment or purchase of Notes
pursuant to any provision of this Agreement and no Notes may be issued in
substitution or exchange for any such Notes.

8.7.     Make-Whole Amount.

                  The term "Make-Whole Amount" means, with respect to any Note,
an amount equal to the excess, if any, of the Discounted Value of the Remaining
Scheduled Payments with respect to the Called Principal of such Note over the
amount of such Called Principal, provided that the Make-Whole Amount may in no
event be less than zero. For the purposes of determining the Make-Whole Amount,
the following terms have the following meanings:

                                       21

<PAGE>

                  "Called Principal" means, with respect to any Note, the
principal of such Note that is to be prepaid pursuant to Section 8.1(b), 8.2 or
8.3 or has become or is declared to be immediately due and payable pursuant to
Section 12.1, as the context requires.

                  "Discounted Value" means, with respect to the Called Principal
of any Note, the amount obtained by discounting all Remaining Scheduled Payments
with respect to such Called Principal from their respective scheduled due dates
to the Settlement Date with respect to such Called Principal, in accordance with
accepted financial practice and at a discount factor (applied on the same
periodic basis as that on which interest on the Notes is payable) equal to the
Reinvestment Yield with respect to such Called Principal.

                  "Reinvestment Yield" means, with respect to the Called
Principal of any Note, 0.50% over the yield to maturity implied by (i) the
yields reported, as of 10:00 A.M. (New York City time) on the second Business
Day preceding the Settlement Date with respect to such Called Principal, on the
display designated as Page "USD" of the Bloomberg Financial Markets Service (or
such other display as may replace Page "USD" of the Bloomberg Financial Markets
Service) for actively traded U.S. Treasury securities having a maturity equal to
the Remaining Average Life of such Called Principal as of such Settlement Date,
or (ii) if such yields are not reported as of such time or the yields reported
as of such time are not ascertainable, the Treasury Constant Maturity Series
Yields reported, for the latest day for which such yields have been so reported
as of the second Business Day preceding the Settlement Date with respect to such
Called Principal, in Federal Reserve Statistical Release H.15 (519) (or any
comparable successor publication) for actively traded U.S. Treasury securities
having a constant maturity equal to the Remaining Average Life of such Called
Principal as of such Settlement Date. Such implied yield will be determined, if
necessary, by (a) converting U. S. Treasury bill quotations to bond-equivalent
yields in accordance with accepted financial practice and (b) interpolating
linearly between (1) the actively traded U. S. Treasury security with the
duration closest to and greater than the Remaining Average Life and (2) the
actively traded U. S. Treasury security with the duration closest to and less
than the Remaining Average Life.

                  "Remaining Average Life" means, with respect to any Called
Principal, the number of years (calculated to the nearest one-twelfth year)
obtained by dividing (i) such Called Principal into (ii) the sum of the products
obtained by multiplying (a) the principal component of each Remaining Scheduled
Payment with respect to such Called Principal by (b) the number of years
(calculated to the nearest one-twelfth year) that will elapse between the
Settlement Date with respect to such Called Principal and the scheduled due date
of such Remaining Scheduled Payment.

                  "Remaining Scheduled Payments" means, with respect to the
Called Principal of any Note, all payments of such Called Principal and interest
thereon that would be due after the Settlement Date with respect to such Called
Principal if no payment of such Called Principal were made prior to its
scheduled due date, provided that if such Settlement Date is not a date on which
interest payments are due to be made under the

                                       22

<PAGE>

terms of the Notes, then the amount of the next succeeding scheduled interest
payment will be reduced by the amount of interest accrued to such Settlement
Date and required to be paid on such Settlement Date pursuant to Section 8.1(b),
8.2 or 8.3 or 12.1.

                  "Settlement Date" means, with respect to the Called Principal
of any Note, the date on which such Called Principal is to be prepaid pursuant
to Section 8.1(b), 8.2 or 8.3 or has become or is declared to be immediately due
and payable pursuant to Section 12.1, as the context requires.

9.       AFFIRMATIVE COVENANTS.

                  Each of the Company and the Tenant covenants that so long as
any of the Notes are outstanding:

9.1.     Compliance with Law.

                  The Company and the Tenant will, and the Tenant will cause
each of its Subsidiaries to, comply with all laws, ordinances or governmental
rules or regulations to which each of them is subject, including, without
limitation, Environmental Laws, and will obtain and maintain in effect all
licenses, certificates, permits, franchises and other governmental
authorizations necessary to the ownership of their respective properties or to
the conduct of their respective businesses, in each case to the extent necessary
to ensure that non-compliance with such laws, ordinances or governmental rules
or regulations or failures to obtain or maintain in effect such licenses,
certificates, permits, franchises and other governmental authorizations could
not, individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.

9.2.     Insurance.

                  Subject to the requirements of the other Operative Agreements,
the Company and the Tenant will, and the Tenant will cause each of its
Subsidiaries to, maintain, with financially sound and reputable insurers,
insurance with respect to their respective properties and businesses against
such casualties and contingencies, of such types, on such terms and in such
amounts (including deductibles, co-insurance and self-insurance, if adequate
reserves are maintained with respect thereto) as is customary in the case of
entities of established reputations engaged in the same or a similar business
and similarly situated.

9.3.     Maintenance of Properties.

                  Subject to the requirements of the other Operative Agreements,
the Company and the Tenant will, and the Tenant will cause each of its
Subsidiaries to, maintain and keep, or cause to be maintained and kept, their
respective properties in good repair, working order and condition (other than
ordinary wear and tear), so that the business carried on in connection therewith
may be properly conducted at all times, provided that this Section shall not
prevent the Company, the Tenant or any Subsidiary from discontinuing the
operation and the maintenance of any of its

                                       23

<PAGE>

properties (other than the Property) if such discontinuance is desirable in the
conduct of its business and the Company and the Tenant have concluded that such
discontinuance could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect.

9.4.     Payment of Taxes and Claims.

                  The Company and the Tenant will and the Tenant will cause each
of its Subsidiaries to file all tax returns required to be filed in any
jurisdiction and to pay and discharge all taxes shown to be due and payable on
such returns and all other taxes, assessments, governmental charges, or levies
imposed on them or any of their properties, assets, income or franchises, to the
extent such taxes and assessments have become due and payable and before they
have become delinquent and all claims for which sums have become due and payable
that have or might become a Lien on properties or assets of the Company, the
Tenant or any Subsidiary, provided that subject to the terms of the other
Operative Agreements, none of the Company, the Tenant or any Subsidiary need pay
any such tax or assessment or claims if (i) the amount, applicability or
validity thereof is contested by the Company, the Tenant or such Subsidiary on a
timely basis in good faith and in appropriate proceedings, and the Company, the
Tenant or a Subsidiary has established adequate reserves therefor in accordance
with GAAP on the books of the Company, the Tenant or such Subsidiary or (ii) the
nonpayment of all such taxes and assessments in the aggregate could not
reasonably be expected to have a Material Adverse Effect.

9.5.     Existence, etc.

                  Each of the Company and the Tenant will at all times preserve
and keep in full force and effect its existence as a limited liability company.
Subject to Section 10.2, the Tenant will at all times preserve and keep in full
force and effect the corporate, limited liability company or partnership
existence of each of its Subsidiaries (unless merged into the Tenant or a
Subsidiary of Tenant) and all rights and franchises of the Tenant and its
Subsidiaries unless, in the good faith judgment of the Tenant, the termination
of or failure to preserve and keep in full force and effect such existence,
right or franchise could not, individually or in the aggregate, have a Material
Adverse Effect.

9.6.     Nature of Business.

                  The Company is and shall remain a special purpose entity and
limit the conduct of its business to ownership of the Property as contemplated
hereby and by the Operative Agreements and the leasing thereof and such other
business activities as are incident or necessary thereto, but no other
activities. The Company will do or cause to be done all things necessary to
preserve, renew and keep in full force and effect its rights, privileges and
franchises and its existence as a limited liability company, necessary or
desirable in the normal conduct of business; provided, however, that the Company
shall not be required to preserve any right, privilege or franchise, if the
Members of the Company shall determine that the preservation thereof is no
longer desirable in the conduct of the business of the Company and that the loss
thereof is not Material.

                                       24

<PAGE>

9.7.     Compliance with Terms of Operative Agreements:

                  The Company and the Tenant shall each comply with all of the
terms, conditions, and covenants in the Operative Agreements to which the
Company or the Tenant is a party.

10.      NEGATIVE COVENANTS.

                  The Company and Tenant each covenants that so long as any of
the Notes are outstanding:

10.1.    Transactions with Affiliates.

                  The Company will not create or suffer to exist any
Subsidiaries. The Company and the Tenant will not, and the Tenant will not
permit any Restricted Subsidiary to, enter into directly or indirectly any
transaction or Material group of related transactions (including without
limitation the purchase, lease, sale or exchange of properties of any kind or
the rendering of any service) with any Affiliate, except in the ordinary course
and pursuant to the reasonable requirements of the Company's, the Tenant's or
such Restricted Subsidiary's business and upon fair and reasonable terms no less
favorable to the Company, the Tenant or such Restricted Subsidiary than would be
obtainable in a comparable arm's-length transaction with a Person not an
Affiliate.

10.2.    Merger, Consolidation, etc.

                  The Company and the Tenant shall not, and shall not permit any
Restricted Subsidiary of Tenant to, consolidate with or merge with any other
Person or convey, transfer or lease substantially all of its assets in a single
transaction or series of transactions to any other Person, except that:

                  (a)      the Tenant may consolidate with or merge with or into
         any Person, or convey, transfer or lease substantially all of the
         assets of the Tenant as an entirety to any Person provided that
         immediately after giving effect thereto,

                           (i)      the Tenant is the successor Person or, if
                  the Tenant is not the successor Person, the successor Person
                  is a Person organized under the laws of a state of the United
                  States of America or the District of Columbia and shall
                  expressly assume in writing the Tenant's obligations under
                  this Agreement and the Operative Agreements to which the
                  Tenant is a party (pursuant to such agreements and instruments
                  reasonably satisfactory to the Required Holders), and the
                  successor Person shall furnish to the holders of the Notes an
                  opinion of nationally recognized independent counsel in form
                  and substance satisfactory to the Required Holders to the
                  effect that the instrument of assumption has been duly
                  authorized, executed and delivered and constitutes the legal,
                  valid and binding contract and agreement of the successor
                  Person enforceable in accordance with its terms, except as
                  enforcement of such terms may be limited by bankruptcy,
                  insolvency,

                                       25

<PAGE>

                  reorganization, moratorium or similar laves affecting the
                  enforcement of creditors' rights generally and by general
                  equitable principles;

                           (ii)     immediately after giving effect to such
                  transaction, there shall exist no Event of Default or Default;
                  and

                           (iii)    immediately after giving effect to such
                  transaction, the Tenant or such successor Person could incur
                  at least $1.00 of additional Funded Indebtedness pursuant to
                  Section 10.4(c).

                  (b)      any Restricted Subsidiary of Tenant may (i)
         consolidate with or merge into the Tenant or any Restricted Subsidiary
         of Tenant or (ii) convey, transfer or lease substantially all of its
         assets to the Tenant or to any Restricted Subsidiary of Tenant,
         provided in each such instance there shall exist no Event of Default or
         Default.

10.3.    Consolidated Net Capital.

                  The Tenant will not at any time permit its Consolidated Net
Capital to be less than the sum of (a) $85,000,000 plus (b) the cumulative sum
of 10% (without deduction for any loss) of its Consolidated Net Income for the
six-month period ending September 30, 1996 and for each fiscal year thereafter.

10.4.    Funded Indebtedness.

                  The Company will not at any time create, assume, incur,
guarantee or otherwise become liable, directly or indirectly, for any Funded
Indebtedness other than the Notes. The K Tenant will not, nor shall it permit
any Restricted Subsidiary of Tenant to, at any time, create, assume, incur,
guarantee or otherwise become liable, directly or indirectly, for any Funded
Indebtedness other than:

                  (a)      All existing Funded Indebtedness described in
Schedule 5.15;

                  (b)      Funded Indebtedness of a Restricted Subsidiary of
Tenant owed to the Tenant or to any Wholly-Owned Restricted Subsidiary of
Tenant;

                  (c)      Funded Indebtedness if, after giving effect to the
incurrence of such Funded Indebtedness and to the application of proceeds
thereof, Consolidated Funded Indebtedness would not exceed (i) 60% of Total
Capitalization as of the end of the most recent fiscal quarter ending within the
period commencing with the date of Closing and ending September 29, 1998 and
(ii) 55% of Total Capitalization as of the end of the most recent fiscal quarter
ending after September 29, 1998.

10.5.    Current Indebtedness.

                  The Company will not have, at any time, any Current
Indebtedness outstanding other than the Notes. The Tenant will not, and will not
permit any Restricted Subsidiary of

                                       26

<PAGE>

Tenant to, have, at any time, any Current Indebtedness outstanding unless,
during the twelve month period immediately, preceding, there shall have been a
period of 30 consecutive days during which the sum of (a) such outstanding
Current Indebtedness (if Current Indebtedness were categorized as Funded
Indebtedness) plus (b) outstanding Funded Indebtedness could have been incurred
as Consolidated Funded Indebtedness pursuant to Section 10.4(c).

10.6.    Indebtedness of Restricted Subsidiaries.

                  The Tenant shall , not permit any Restricted Subsidiary of
Tenant at any time to create, assume, incur, guarantee or otherwise become
liable, directly or indirectly, for any Indebtedness, except:

                  (a)      Indebtedness owed to the Tenant or to any
         Wholly-Owned Restricted Subsidiary of Tenant; and

                  (b)      Subject to compliance with Section 10.4(c),
         Indebtedness which, when added to aggregate outstanding Indebtedness
         incurred pursuant to Section 10.7(j), shall not at any time exceed 25%
         of Consolidated Net Capital determined as of the end of the Tenant's
         most recently ended fiscal quarter.

10.7.    Liens.

                  The Company and the Tenant will not, and the Tenant will not
permit any Restricted Subsidiary to, create, assume or incur, or suffer to be
incurred or assumed or to exist, any Lien on its or their property or assets,
whether now owned or hereafter acquired, or upon any income or profits
therefrom, or transfer any property for the purpose of subjecting the same to
the payment of obligations in priority to the payment of its or their general
creditors, or acquire or agree to acquire, or, in the case of the Tenant, permit
any Restricted Subsidiary to acquire, any property or assets upon conditional
sales agreements or other title retention devices, except:

                  (a)      Liens existing on property or assets of the Company,
         Tenant or any Restricted Subsidiary of Tenant as of the date of this
         Agreement that are described in Schedule 10.7 to this Agreement;

                  (b)      Liens created by the Security Documents;

                  (c)      Liens permitted under the Operative Agreements;

                  (d)      Liens for taxes, assessments or governmental charges
         the payment of which is not required under Section 9.4 and with respect
         to which adequate security is being maintained in accordance with this
         Agreement and the Security Documents;

                  (e)      Liens created by or resulting from any litigation or
         legal proceedings which are being contested in good faith by
         appropriate legal proceedings and adequate reserves are maintained with
         respect thereto in accordance with GAAP, unless the judgment that such
         Liens secure shall not have been stayed, bonded or discharged within 60
         days;

                                       27

<PAGE>

                  (f)      Liens in connection with worker's compensation,
         social security taxes or similar charges arising in the ordinary course
         of business and not incurred in connection with the borrowing of money;

                  (g)      Subject to the teams of the other Operative
         Agreements, Liens securing Indebtedness owed by any Restricted
         Subsidiary of Tenant to the Tenant or by the Tenant to any Wholly-Owned
         Restricted Subsidiary or by any Restricted Subsidiary to any
         Wholly-Owned Restricted Subsidiary;

                  (h)      Subject to the terms of the other Operative
         Agreements, Liens consisting of encumbrances in the nature of zoning
         restrictions, easements, rights and restrictions on the use of real
         property on the date of the acquisition thereof and statutory Liens of
         landlords, which in any case do not materially detract from the value
         of such property or impair the use thereof;

                  (i)      Any Lien on fixed assets of Tenant or any Restricted
         Subsidiary of Tenant to secure any rights granted with respect to such
         property in connection with the provision of all or a part of the
         purchase price created contemporaneously with, or within 90 days after,
         such acquisition, provided that, (i) any Liens incurred pursuant to
         this clause (i) shall not (x) exceed 100% of the lesser of cost or fair
         market value (as determined by the Managers of the Tenant) of the
         related property at the time of the occurrence of the transactions
         described above in this clause (i) or (y) extend to any other property
         of the Tenant or any Restricted Subsidiary other than the fixed assets
         acquired pursuant to this clause (i) and (ii) such Indebtedness could
         be incurred by Tenant or any Restricted Subsidiary of Tenant pursuant
         to Section 10.4(c); and

                  (j)      Liens which secure Indebtedness of Tenant or any
         Restricted Subsidiary of Tenant and which are not permitted by (a)
         though (h) above; provided that, after giving effect to the incurrence
         of such Indebtedness and the application of proceeds thereof, (A) the
         requirements of Section 10.4(c) shall have been met and (B)
         Indebtedness incurred by Tenant or any Restricted Subsidiary of Tenant
         under this Section 10.7(j), when added to outstanding Indebtedness of
         Restricted Subsidiaries of Tenant permitted by Section I 10.6(b) will
         not exceed 25% of Consolidated Net Capital determined as of the end of
         the Tenant's most recently ended fiscal quarter.

10.8.    Lease Amendments.

                  Neither the Company nor the Tenant shall allow the Lease to be
amended in any respect without the written consent of the Required Holders.

10.9.    Sale of Assets.

                  Except as permitted by Section 10.2, the Tenant will not, and
will not permit any Restricted Subsidiary to, sell, lease, transfer or otherwise
dispose of any assets, including the disposition of the stock of any Restricted
Subsidiary (except as permitted by Section 10.10(a) and

                                       28

<PAGE>

Section 10.10(b)(i) and (ii)) and including any Sale and Lease-Back Transaction
(collectively, a "Disposition"); in one or a series of transactions, other than
in the ordinary course of business, to any Person, other than the Tenant or a
Wholly-Owned Restricted Subsidiary if immediately preceding such Disposition and
after giving effect to such Disposition during any fiscal year of the Tenant the
aggregate book value of all such Dispositions during such fiscal year, would
exceed 15% of Consolidated Total Assets as of the end of the immediately
preceding fiscal year; provided however, that the Tenant may, and may permit any
Restricted Subsidiary to, sell, lease, transfer or otherwise dispose of assets
in excess of the percentage specified above:

                  (a)      if the cash proceeds therefrom are (i) utilized
within 180 days after such Disposition to purchase productive assets of at least
equivalent value or (ii) used to prepay Consolidated Funded Indebtedness (except
Subordinated Indebtedness), including the Notes, on a pro rata basis, subject to
the prepayment requirements and at the price set forth in Section 8.3 (provided,
however, that any holder of the Notes may, at its sole discretion, decline to
have its Notes so prepaid); or

                  (b)      if the Disposition is a Sale and Leaseback
Transaction in which the Tenant or any Restricted Subsidiary sells property and
leases the same property within 180 days of such sale; provided that, (i) the
cash proceeds therefrom are utilized within 180 days after such Disposition to
purchase productive assets of equivalent value and (ii) after giving effect to
such Sale and Leaseback Transaction, no Default or Event of Default shall have
occurred.

10.10.   Restricted Subsidiary Stock.

                  (a)      The Tenant will not permit any Restricted Subsidiary
to issue shares of its capital stock to any Person other than (i) the Tenant,
(ii) any Wholly-Owned Restricted Subsidiary, (iii) management or employees of
the Tenant or any Wholly-Owned Restricted Subsidiary or any Foreign Restricted
Subsidiary or (iv) in connection with the issuance of director's qualifying
shares with respect to Foreign Restricted Subsidiaries; provided. however, that
(A) after giving effect to such stock issuance pursuant to the foregoing clause
(iii), no Default or Event of Default shall have occurred and (B) the Managers
of the Tenant shall have determined that such stock issuance is in the best
interest of the Tenant.

                  (b)      The Tenant will not sell, transfer or otherwise
dispose of any capital stock or other equity or partnership interest (the
"Interests") in any Restricted Subsidiary to any Person other than to (i) any
Wholly-Owned Restricted Subsidiary, (ii) management or employees of the Tenant
or any Wholly-Owned Restricted Subsidiary or any Foreign Restricted Subsidiary
or (iii) in connection with the issuance of director's qualifying shares with
respect to Foreign Restricted Subsidiaries; provided, however, that (A) after
giving effect to such disposition pursuant to the foregoing clause (ii), no
Default or Event of Default shall have occurred and (B) the Managers of the
Tenant shall have determined that such disposition is in the best interest of
the Tenant, and provided, further, that the Tenant may sell, transfer or
otherwise dispose of Interests other than as provided in clauses (i) and (ii) of
this paragraph (b) if (A) the Interests are valued at book value determined as
the date of such disposition, and such disposition is permitted by Section 10.9;
(B) all Interests held by the Tenant in any Restricted Subsidiary shall be
transferred in connection with such disposition; (C) following such disposition,
neither the Tenant nor any Restricted

                                       29

<PAGE>

Subsidiary shall own any Interests in such former Restricted Subsidiary or be
owed any Indebtedness by such former Restricted Subsidiary; and (D) immediately
after giving effect to such disposition (y) the Tenant could incur $1.00 of
additional Funded Indebtedness pursuant to Section 10.4(c) and (z) no Default or
Event of Default shall have occurred.

10.11.   Distributions.

                  The Company and .the Tenant will not, and the Tenant will not
permit any Restricted Subsidiary to, during any fiscal year, declare or pay any
distributions to any of its owners if at the time of any such distribution a
Default or Event of Default shall have occurred and be continuing hereunder or
under the other Operative Agreements or would occur as a result thereof.

10.12.   Amendments to Articles of Organization add Operating Agreement.

                  The Company shall not amend or modify its articles of
organization or Operating Agreement nor shall the Tenant amend or modify its
articles of organization or the Tenant Operating Agreement, in any manner which
might materially and adversely affect the rights of any holders of the Notes (it
being agreed that amendments for the purpose of admitting additional members, or
reflecting deaths, retirements, resignations, withdrawals or removals of members
will not be deemed to have such an adverse effect and amendments permitting
members to incorporate and such corporations to become members of the Tenant
shall not be deemed to have such an adverse effect).

10.13.   Change in Business.

                  None of the Company, the Tenant or any Restricted Subsidiary
will engage in any business as a result of which the general nature of the
business, taken as a whole, which would then be engaged in by the Company, the
Tenant or the Restricted Subsidiaries would be substantially changed from the
general nature of such business on the date hereof.

10.14.   Permitted Investments.

                  The Company will not permit or authorize any Investments other
than Permitted Investments.

11.       EVENTS OF DEFAULT.

                  An "Event of Default" shall exist if any of the following
conditions or events shall occur and be continuing:

                  (a)      the Company defaults in the payment of any principal
         or Make-Whole Amount, if any, on any Note when the same becomes due and
         payable, whether at maturity or at a date fixed for prepayment or by
         declaration or otherwise;

                                       30

<PAGE>

                  (b)      the Company defaults in the payment of any interest
         on any Note or the Company or the Tenant defaults in the payment of any
         other amount due under the Operative Agreements, in any case, for more
         than five Business Days after the same becomes due and payable;

                  (c)      the Company or the Tenant defaults in the performance
         of or compliance with any term contained in Sections 10.1 through
         10.12;

                  (d)      the Company or the Tenant defaults in the performance
         of or compliance with any other term contained herein (other than those
         referred to in paragraphs (a), (b) and (c) of this Section 11) or any
         Operative Agreement and such default is not remedied within 30 days
         after the earlier of (i) a Responsible Officer of the Company or Tenant
         obtaining actual knowledge of such default and (ii) the Company
         receiving written notice of such default from any holder of a Note (any
         such written notice to be identified as a "notice of default" and to
         refer specifically to this paragraph (d) of Section 11);

                  (e)      any representation or warranty made in writing by or
         on behalf of the Company, the Tenant or by any officer of the Company
         or the Tenant in this Agreement, the Operative Agreements or in any
         writing furnished in connection with the transactions contemplated
         hereby proves to have been false or incorrect in any material respect
         on the date as of which made;

                  (f)      a default or event of default shall occur under any
         other Operative Agreement and such default or event of default shall
         remain incurred after the expiration of any applicable grace or cure
         period provided for therein or if no such cure period is provided for
         therein within thirty (30) days;

                  (g)      (i) the Company, the Tenant or any Subsidiary is in
         default (as principal or as guarantor or other surety) in the payment
         of any principal of or premium or make whole amount or interest on any
         Indebtedness that is outstanding in an aggregate principal amount of at
         least $50,000 in the case of the Company, and at least $10,000,000 in
         the case of the Tenant or any Subsidiary, beyond any period of grace
         provided with respect thereto, or (ii) the Company, the Tenant or any
         Subsidiary is in default in the performance of or compliance with any
         term of any evidence of any Indebtedness in an aggregate outstanding
         principal amount of at least $50,000 in the case of the Company, and at
         least $10,000,000 in the case of the Tenant or any Subsidiary, or of
         any mortgage, indenture or other agreement relating thereto beyond any
         period of grace provided with respect to such default, or (iii) as a
         consequence of the occurrence or continuation of any event or condition
         (other than the passage of time or the right of the holder of
         Indebtedness to convert such Indebtedness into equity interests), (x)
         the Company, the Tenant or any Subsidiary has become obligated to
         purchase or repay Indebtedness before its regular maturity or before
         its regularly scheduled dates of payment in an aggregate outstanding
         principal amount of at least $50,000 in the case of the Company, and at
         least $10,000,000 in the case of the Tenant or any Subsidiary, or (y)
         one or more Persons have the right to

                                       31

<PAGE>

         require the Company, the Tenant or. any Subsidiary so to purchase or
         repay such Indebtedness;

                  (h)      the Company, the Tenant or any Subsidiary (i) is
         generally not paying, or admits in writing its inability to pay, its
         debts as they become due, (ii) files, or consents by answer or
         otherwise to the filing against it of, a petition for relief or
         reorganization or arrangement or any other petition in bankruptcy, for
         liquidation or to take advantage of any bankruptcy, insolvency,
         reorganization, moratorium or other similar law of any jurisdiction,
         (iii) makes an assignment for the benefit of its creditors,- (iv)
         consents to the appointment of a custodian, receiver, trustee or other
         officer with similar powers with respect to it or with respect to any
         substantial part of its property, (v) is adjudicated as insolvent or to
         be liquidated, or (vi) takes corporate action for the purpose of any of
         the foregoing;

                  (i)      a court or governmental authority of competent
         jurisdiction enters an order appointing, without consent by the
         Company, the Tenant or any of its Subsidiaries, a custodian, receiver,
         trustee or other officer with similar powers with respect to it or with
         respect to any substantial part of its property, or constituting an
         order for relief or approving a petition for relief or reorganization
         or any other petition in bankruptcy or for liquidation or to take
         advantage of any bankruptcy or insolvency law of any jurisdiction, or
         ordering the dissolution, winding-up or liquidation of the Company, the
         Tenant or any of the Subsidiaries, or any such petition shall be filed
         against the Company, the Tenant or any of the Subsidiaries and such
         petition shall not be dismissed within 60 days;

                  (j)      a final judgment or judgments for the payment of
         money aggregating in excess of $50,000 in the case of the Company and
         $5,000,000 in the case of the Tenant or any Subsidiaries are rendered
         which judgments are not, within 30 days after entry thereof, bonded,
         discharged or stayed pending appeal, or are not discharged within 30
         days after the expiration of such stay; or

                  (k)      if (i) any Plan shall fail to satisfy the minimum
         funding standards of ERISA or the Code for any plan year or part
         thereof or a waiver of such standards or extension of any amortization
         period is sought or granted under section 412 of the Code, (ii) a
         notice of intent to terminate any Plan shall have been or is reasonably
         expected to be filed with the PBGC or the PBGC shall have instituted
         proceedings under ERISA section 4042 to terminate or appoint a trustee
         to administer any Plan or the PBGC shall have notified the Company, the
         Tenant or any ERISA Affiliate that a Plan may become a subject of any
         such proceedings, (iii) the aggregate "amount of unfunded benefit
         liabilities" (within the meaning of section 4001(a)(18) of ERISA) under
         all Plans, determined in accordance with Title IV of ERISA, shall
         exceed $500,000, (iv) the Company, the Tenant or any ERISA Affiliate
         shall have incurred or is reasonably expected to incur any liability
         pursuant to Title I or IV of ERISA or the penalty or excise tax
         provisions of the Code relating to employee benefit plans, (v) the
         Company, the Tenant or any ERISA Affiliate withdraws from any
         Multiemployer Plan, or (vi) the Company, the Tenant or any Subsidiary
         establishes or amends any employee welfare benefit plan that provides
         post-employment

                                       32

<PAGE>

         welfare benefits in a manner that would increase the liability of the
         Company, the Tenant or any Subsidiary thereunder; and any such event or
         events described in clauses (i) through (vi) above, either individually
         or together with any other such event or events, could reasonably be
         expected to have a Material Adverse Effect.

As used in Section 11(k), the terms "employee benefit plan" and "employee
welfare benefit plan" shall have the respective meanings assigned to such terms
in Section 3 of ERISA.

12.      REMEDIES ON DEFAULT, ETC.

12.1.    Acceleration.

                  (a)      If an Event of Default with respect to the Company or
the Tenant described in paragraph (h) or (i) of Section 11 (other than an Event
of Default described in clause (i) of paragraph (h) or described in clause (vi)
of paragraph (h) by virtue of the fact that such clause encompasses clause (i)
of paragraph (h) has occurred, all the Notes then outstanding shall
automatically become immediately due and payable.

                  (b)      If any other Event of Default has occurred and is
continuing, any holder or holders of more than 33% in principal amount of the
Notes at the time outstanding may at any time at its or their option, by notice
or notices to the Company, declare all the Notes then outstanding to be
immediately due and payable.

                  (c)      If any Event of Default described in paragraph (a) or
(b) of Section 11 has occurred and is continuing, any holder or holders of Notes
at the time outstanding affected by such Event of Default may at any time, at
its or their option, by notice or notices to the Company, declare all the Notes
held by it or them to be immediately due and payable.

                  Upon any Notes becoming due and payable under this Section
12.1, whether automatically or by declaration, such Notes will forthwith mature
and the entire unpaid principal amount of such Notes, plus (x) all accrued and
unpaid interest thereon and (y) the Make-Whole Amount determined in respect of
such principal amount (to the full extent permitted by applicable law), shall
all be immediately due and payable, in each and every case without presentment,
demand, protest or further notice, all of which are hereby waived. The Company
acknowledges, and the parties hereto agree, that each holder of a Note has the
right to maintain its investment in the Notes free from repayment by the Company
(except as herein specifically provided for) and that the provision for payment
of a Make-Whole Amount by the Company in the event that the Notes are prepaid or
are accelerated as a result of an Event of Default, is intended to provide
compensation for the deprivation of such right under such circumstances.

12.2.    Other Remedies.

                  If any Default or Event of Default has occurred and is
continuing, and irrespective of whether any Notes have become or have been
declared immediately due and payable under Section 12.1, the holder of any Note
at the time outstanding may proceed to protect and enforce the rights of such
holder by an action at law, suit in equity or other appropriate proceeding,

                                       33

<PAGE>

whether for the specific performance of any agreement contained in this
Agreement, any of the Operative Agreements or in any Note, or for an injunction
against a violation of any of the terms hereof or thereof, or in aid of the
exercise of any power granted hereby or thereby or by law or otherwise.

12.3.    Rescission.

                  At any time after any Notes have been declared due and payable
pursuant to clause (b) or (c) of Section 12.1, the holders of not less than 51%
in principal amount of the Notes then outstanding, by written notice to the
Company, may rescind and annul any such declaration and its consequences if (a)
the Company has paid all overdue interest on the Notes, all principal of and
Make-Whole Amount, if any, on any Notes that are due and payable and are unpaid
other than by reason of such declaration, and all interest on such overdue
principal and Make-Whole Amount, if any, and (to the extent permitted by
applicable law) any overdue interest in respect of the Notes, at the Default
Rate, (b) all Events of Default and Defaults, other than non-payment of amounts
that have become due solely by reason of such declaration, have been cured or
have been waived pursuant to Section 17, and (c) no judgment or decree has been
entered for the payment of any monies due pursuant hereto or to the Notes. No
rescission and annulment under this Section 12.3 will extend to or affect any
subsequent Event of Default or Default or impair any right consequent thereon.

12.4.    No Waivers or Election of Remedies, Expenses, etc.

                  No course of dealing and no delay on the part of any holder of
any Note in exercising any right, power or remedy shall operate as a waiver
thereof or otherwise prejudice such holder's rights, powers or remedies. No
right, power or remedy conferred by this Agreement, any Operative Agreement or
by any Note upon any holder thereof shall be exclusive of any other right, power
or remedy referred to herein or therein or now or hereafter available at law, in
equity, by statute or otherwise. Without limiting the obligations of the Company
under Section 15, the Company will pay to the holder of each Note on demand such
further amount as shall be sufficient to cover all costs and expenses of such
holder incurred in any enforcement or collection under this Section 12,
including, without limitation, reasonable attorneys' fees, expenses and
disbursements.

13.      1REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES.

13.1.    Registration of Notes.

                  The Company shall keep at its principal executive office a
register for the registration and registration of transfers of Notes. The name
and address of each holder of one or more Notes, each transfer thereof and the
name and address of each transferee of one or more Notes shall be registered in
such register. Prior to due presentment for registration of transfer, the Person
in whose name any Note shall be registered shall be deemed and treated as the
owner and holder thereof for all purposes hereof, and the Company shall not be
affected by any notice or knowledge to the contrary. The Company shall give to
any holder of a Note that is an Institutional Investor promptly upon request
therefor, a complete and correct copy of the names

                                       34

<PAGE>

and addresses of all registered holders of Notes. The Company may direct the
Collateral and Paying Agent under the Collateral Agency and Paying Agreement to
undertake the obligation of the Company contained in this Section 13.1 or the
Collateral Agency and Paying Agreement may so provide.

13.2.    Transfer and Exchange of Notes.

                  Upon surrender of any Note at the principal executive office
of the Company for registration of transfer or exchange (and in the case of a
surrender for registration of transfer, duly endorsed or accompanied by a
written instrument of transfer duly executed by the registered holder of such
Note or his attorney duly authorized in writing and accompanied by the address
for notices and other Schedule A information of each transferee of such Note or
part thereof), the Company shall execute and deliver, at the Company's expense
(except as provided below), one or more new Notes (as requested by the holder
thereof) in exchange therefor, in an aggregate principal amount equal to the
unpaid principal amount of the surrendered Note. Each such new Note shall be
payable to such Person as such holder may request and shall be substantially in
the form of Exhibit 1. Each such new Note shall be dated and bear interest from
the date to which interest shall have been paid on the surrendered Note or dated
the date of the surrendered Note if no interest shall have been paid thereon.
The Company may require payment of a sum sufficient to cover any stamp tax or
governmental charge imposed in respect of any such transfer of Notes.

                  Notes shall not be transferred in denominations of less than
$100,000, provided that if necessary to enable the registration of transfer by a
holder of its entire holding of Notes, one Note may be in a denomination of less
than $100,000. Any transferee, by its acceptance of a Note registered in its
name (or the name of its nominee), shall be deemed to have made the
representation set forth in Section 6.1. The Company may direct the Collateral
and Paying Agent under the Collateral Agency and Paying Agreement to act on its
behalf with respect to this Section 13.2 other than with respect to the
execution of Notes or the Collateral Agency and Paying Agreement may so provide.

13.3.    Replacement of Notes.

                  Upon receipt by the Company of evidence reasonably
satisfactory to it of the ownership of and the loss, theft, destruction or
mutilation of any Note (which evidence shall be, in the case of an Institutional
Investor, notice from such Institutional Investor of such ownership and such
loss, theft, destruction or mutilation), and

                  (a)      in the case of loss, theft or destruction, of
         indemnity reasonably satisfactory to it (provided that if the holder of
         such Note is, or is a nominee for, an original Purchaser or another
         Institutional Holder, such Person's own unsecured agreement of
         indemnity shall be deemed to be satisfactory), or

                  (b)      in the case of mutilation, upon surrender and
         cancellation thereof,

the Company at its own expense shall execute and deliver, in lieu thereof, a new
Note, dated and bearing interest from the date to which interest shall have been
paid on such lost, stolen, destroyed or mutilated Note or dated the date of such
lost, stolen, destroyed or mutilated Note if

                                       35

<PAGE>

no interest shall have been paid thereon. The Company may direct the Collateral
and Paying Agent under the Collateral Agency and Paying Agreement to act on its
behalf with respect to this Section 13.3 other than with respect to the
execution of Notes or the Collateral Agency and Paying Agreement may so provide.

14.      PAYMENTS ON NOTES.

14.1.    Place of Payment.

                  Subject to Section 14.2, and to the extent applicable, to the
Collateral Agency and Paying Agreement, payments of principal, Make-Whole
Amount, if any, and interest becoming due and payable on the Notes shall be made
at the addresses of the Purchasers set forth in Schedule A hereto. The Company
may at any time, by notice to each holder of a Note, change the place of payment
of the Notes so long as such place of payment shall be either the principal
office of the Company in such jurisdiction or the principal office of a bank or
trust company in such jurisdiction.

14.2.    Home Office Payment.

                  So long as you or your nominee shall be the holder of any
Note, and notwithstanding anything contained in Section 14.1 or in such Note to
the contrary, the Company will pay or cause to be paid all sums becoming due on
such Note for principal, Make-Whole Amount, if any, and interest by the method
and at the address specified for such purpose below your name in Schedule A, or
by such other method or at such other address as you shall have from time to
time specified to the Company in writing for such purpose, without the
presentation or surrender of such Note or the making of any notation thereon,
except that upon written request of the Company or the Collateral and Paying
Agent made concurrently with or reasonably promptly after payment or prepayment
in full of any Note, you shall surrender such Note for cancellation, reasonably
promptly after any such request, to the Company or the Collateral and Paying
Agent at its principal executive office or at the place of payment most recently
designated by the Company or the Collateral and Paying Agent pursuant to Section
14.1. Prior to any sale or other disposition of any Note held by you or your
nominee you will, at your election, either endorse thereon the amount of
principal paid thereon and the last date to which interest has been paid thereon
or surrender such Note to the Company or the Collateral and Paying Agent in
exchange for a new Note or Notes pursuant to Section 13.2. The Company will
afford the benefits of this Section 14.2 to any Institutional Investor that is
the direct or indirect transferee of any Note purchased by you under this
Agreement and that has made the same agreement relating to such Note as you have
made in this Section 14.2.

15.      EXPENSES, ETC.

15.1.    Transaction Expenses.

                  Whether or not the transactions contemplated hereby are
consummated, the Company will pay all costs and expenses (including reasonable
attorneys' fees of a special counsel and, if reasonably required, local or other
counsel) incurred by you and each Other Purchaser or

                                       36

<PAGE>

holder of a Note in connection with such transactions and in connection with any
amendments, waivers or consents under or in respect of this Agreement, the
Operative Agreements or the Notes (whether or not such amendment, waiver or
consent becomes effective), including, without limitation: (a) the costs and
expenses incurred in enforcing or defending (or determining whether or how to
enforce or defend) any rights under this Agreement, the Operative Agreements or
the Notes or in responding to any subpoena or other legal process or informal
investigative demand issued in connection with this Agreement, the Operative
Agreements or the Notes, or by reason of being a holder of any Note, and (b) the
costs and expenses, including financial advisors' fees, incurred in connection
with the insolvency or bankruptcy of the Company, the Tenant or any Subsidiary
or in connection with any work-out or restructuring of the transactions
contemplated hereby, by the Operative Agreements and by the Notes. The Company
will pay, and will save you and each other holder of a Note harmless from, all
claims in respect of any fees, costs or expenses if any, of brokers and finders
(other than those retained by you).

15.2.    Survival.

                  The obligations of the Company under this Section 15 will
survive the payment or transfer of any Note, the enforcement, amendment or
waiver of any provision of this Agreement, the Operative Agreements or the
Notes, and the termination of this Agreement and/or the Operative Agreements.

16.      1SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.

                  All representations and warranties contained herein shall
survive the execution and delivery of this Agreement, the Operative Agreements
and the Notes, the purchase or transfer by you of any Note or portion thereof or
interest therein and the payment of any Note, and may be relied upon by any
subsequent holder of a Note, regardless of any investigation made at any time by
or on behalf of you or any other holder of a Note. All statements contained in
any certificate or other instrument delivered by or on behalf of the Company or
the Tenant pursuant to this Agreement shall be deemed representations and
warranties of the Company or the Tenant under this Agreement. Subject to the
preceding sentence, this Agreement, the Operative Agreements and the Notes
embody the entire agreement and understanding between you and the Company and
the Tenant and supersede all prior agreements and understandings relating to the
subject matter hereof.

17.      AMENDMENT AND WAIVER

17.1.    Requirements.

                  This Agreement, the other Operative Agreements and the Notes
may be amended, and the observance of any term hereof or of the Notes may be
waived (either retroactively or prospectively), with (and only with) the written
consent of the Company and the Required Holders, except that (a) no amendment or
waiver of any of the provisions of Section I, 2, 3, 4, 5, 6 or 21 hereof, or any
defined term (as it is used therein), will be effective as to you unless
consented to by you in writing, and (b) no such amendment or waiver may, without
the written

                                       37

<PAGE>

consent of the holder of each Note at the time outstanding affected thereby, (i)
subject to the provisions of Section 12 relating to acceleration or rescission,
change the amount or time of any prepayment or payment of principal of, or
change the rate or change the time of payment or method of computation of
interest or of the Make-Whole Amount on, the Notes, (ii) change the percentage
of the principal amount of the Notes the holders of which are required to
consent to any such amendment or waiver, (iii) amend any of Sections 8, 11(a),
11(b), 12, 17 or 20; or (iv) alter the first priority lien status granted by the
Security Documents.

17.2.    Solicitation of Holders of Notes.

                  (a)      Solicitation. The Company will provide each holder of
the Notes (irrespective of the amount of Notes then owned by it) with sufficient
information, sufficiently far in advance of the date a decision is required, to
enable such holder to make an informed and considered decision with respect to
any proposed amendment, waiver or consent in respect of any of the provisions
hereof, of the other Operative Agreements or of the Notes. The Company will
deliver executed or true and correct copies of each amendment, waiver or consent
effected pursuant to the provisions of this Section 17 to each holder of
outstanding Notes promptly following the date on which it is executed and
delivered by, or receives the consent or approval of, the requisite holders of
Notes.

                  (b)      Payment. Neither the Company nor the Tenant will
directly or indirectly pay or cause to be paid any remuneration, whether by way
of supplemental or additional interest, fee or otherwise, or grant any security,
to any holder of Notes as consideration for or as an inducement to the entering
into by any holder of Notes or any waiver or amendment of any of the terms and
provisions hereof or of the other Operative Agreements unless such remuneration
is concurrently paid, or security is concurrently granted, on the same terms,
ratably to each holder of Notes then outstanding even if such holder did not
consent to such waiver or amendment.

17.3.    Binding Effect, etc.

                  Any amendment or waiver consented to as provided in this
Section 17 applies equally to all holders of Notes and is binding upon them and
upon each future holder of any Note and upon the Company and the Tenant without
regard to whether such Note has been marked to indicate such amendment or
waiver. No such amendment or waiver will extend to or affect any obligation,
covenant, agreement, Default or Event of Default not expressly amended or waived
or impair any right consequent thereon. No course of dealing between the Company
or the Tenant and the holder of any Note nor any delay in exercising any rights
hereunder or under any Note shall operate as a waiver of any rights of any
holder of such Note. As used herein, the term "this Agreement" and "the
Operative Agreements" and references thereto shall mean this Agreement and the
Operative Agreements as they may from time to time be amended or supplemented.

17.4. Notes held by Company or the Tenant, etc.

                  Solely for the purpose of determining whether the holders of
the requisite percentage of the aggregate principal amount of Notes then
outstanding approved or consented to any amendment, waiver or consent to be
given under this Agreement or the Notes, or have

                                       38

<PAGE>

directed the taking of any action provided herein or in the Notes to be taken
upon the direction of the holders of a specified percentage of the aggregate
principal amount of Notes then outstanding, Notes directly or indirectly owned
by the Company, the Tenant or any of their Affiliates shall be deemed not to be
outstanding.

18.      NOTICES.

                  All notices and communications provided for hereunder shall be
in writing and sent (a) by telecopy if the sender on the same day sends a
confirming copy of such notice by a recognized overnight delivery service
(charges prepaid), or (b) by registered or certified mail with return receipt
requested (postage prepaid), or (c) by a recognized overnight delivery service
(with charges prepaid). Any such notice must be sent:

                  (i)      if to you or your nominee, to you or it at the
         address specified for such communications in Schedule A, or at such
         other address as you or it shall have specified to the Company in
         writing,

                  (ii)     if to any other holder of any Note, to such holder at
         such address as such other holder shall have specified to the Company
         in writing, or

                  (iii)    if to the Company or the Tenant, to the Company at
         its respective address set forth at the beginning hereof to the
         attention of the General Counsel, or at such other address as the
         Company or the Tenant shall have specified to the holder of each Note
         in writing.

Notices under this Section 18 will be deemed given only when actually received.

19.      REPRODUCTION OF DOCUMENTS.

                  This Agreement, the Operative Agreements and all documents
relating thereto, including, without limitation, (a) consents, waivers and
modifications that may hereafter be executed, (b) documents received by you at
the Closing (except the Notes themselves), and (c) financial statements,
certificates and other information previously or hereafter furnished to you, may
be reproduced by you by any photographic, photostatic, microfilm, microcard,
miniature photographic or other similar process and you may destroy any original
document so reproduced. The Company agrees and stipulates that, to the extent
permitted by applicable law, any such reproduction shall be admissible in
evidence as the original itself in any judicial or administrative proceeding
(whether or not the original is in existence and whether or not such
reproduction was made by you in the regular course of business) and any
enlargement, facsimile or further reproduction of such reproduction shall
likewise be admissible in evidence. This Section 19 shall not prohibit the
Company or any other holder of Notes from contesting any such reproduction to
the same extent that it could contest the original, or from introducing evidence
to demonstrate the inaccuracy of any such reproduction.

                                       39

<PAGE>

20.      CONFIDENTIAL INFORMATION.

                  For the purposes of this Section 20, "Confidential
Information" means information delivered to you by or on behalf of the Company,
the Tenant or any Subsidiary in connection with the transactions contemplated by
or otherwise pursuant to this Agreement that is proprietary in nature and that
was clearly marked or labeled or otherwise adequately identified when received
by you as being confidential information of the Company, the Tenant or such
Subsidiary, provided that such term does not include information that (a) was
publicly known or otherwise known to you prior to the time of such disclosure,
(b) subsequently becomes publicly known through no act or omission by you or any
person acting on your behalf, (c) otherwise becomes known to you other than
through disclosure by the Company, the Tenant or any Subsidiary or (d)
constitutes financial statements delivered to you under Section 7.1 that are
otherwise publicly available. For purposes of this Section 20, "Confidential
Information" shall include the Memorandum and all financial statements delivered
by the Company or the Tenant pursuant to Section 7.1(a) and (b) of this
Agreement. You will maintain the confidentiality of such Confidential
Information in accordance with procedures adopted by you in good faith to
protect confidential information of third parties delivered to you, provided
that you may deliver or disclose Confidential Information to (i) your directors,
officers, employees, agents, attorneys and affiliates (to the extent such
disclosure reasonably relates to the administration of the investment
represented by your Notes), (ii) your financial advisors and other professional
advisors who agree to hold confidential the Confidential Information
substantially in accordance with the terms of this Section 20, (iii) any other
holder of any Note, (iv) any Institutional Investor to which you sell or offer
to sell such Note or any part thereof or any participation therein (if such
Person has agreed in writing prior to its receipt of such Confidential
Information to be bound by the provisions of this Section 20), (v) any Person
from which you offer to purchase any security of the Company or the Tenant (if
such Person has agreed in writing prior to its receipt of such Confidential
Information to be bound by the provisions of this Section 20), (vi) any federal
or state regulatory authority having jurisdiction over you, (vii) the National
Association of Insurance Commissioners or any similar organization, or any
nationally recognized rating agency that requires access to information about
your investment portfolio or (viii) any other Person to which such delivery or
disclosure may be necessary or appropriate (w) to effect compliance with any
law, rule, regulation or order applicable to you, (x) in response to any
subpoena or other legal process, (y) in connection with any litigation to which
you are a party or (z) if an Event of Default has occurred and is continuing, to
the extent you may reasonably determine such delivery and disclosure to be
necessary or appropriate in the enforcement or for the protection of the rights
and remedies under your Notes, this Agreement and/or the Operative Agreements.
Each holder of a Note, by its acceptance of a Note, will be deemed to have
agreed to be bound by and to be entitled to the benefits of this Section 20 as
though it were a parry to this Agreement. On reasonable request by the Company
in connection with the delivery to any holder of a Note of information required
to be delivered to such holder under this Agreement or requested by such holder
(other than a holder that is a party to this Agreement or its nominee), such
holder will enter into an agreement with the Company embodying the provisions of
this Section 20.

                                       40

<PAGE>

21.      SUBSTITUTION OF PURCHASER

                  You shall have the right to substitute any one of your
Affiliates as the purchaser of the Notes that you have agreed to purchase
hereunder, by written notice to the Company, which notice shall be signed by
both you and such Affiliate, shall contain such Affiliate's agreement to be
bound by this Agreement and shall contain a confirmation by such Affiliate of
the accuracy with respect to it of the representations set forth in Section 6.
Upon receipt of such notice, wherever the word "you" is used in this Agreement
(other than in this Section 21), such word shall be deemed to refer to such
Affiliate in lieu of you. In the event that such Affiliate is so substituted as
a purchaser hereunder and such Affiliate thereafter transfers to you all of the
Notes then held by such Affiliate, upon receipt by the Company of notice of such
transfer, wherever the word "you" is used in this Agreement (other than in this
Section 21), such word shall no longer be deemed to refer to such Affiliate, but
shall refer to you, and you shall have all the rights of an original holder of
the Notes under this Agreement.

22.      MISCELLANEOUS.

22.1.    Successors and Assigns.

                  All covenants and other agreements contained in this Agreement
by or on behalf of any of the parties hereto bind and inure to the benefit of
their respective successors and assigns (including, without limitation, any
subsequent holder of a Note) whether so expressed or not.

22.2.    Payments Due on Non-Business Days.

                  Anything in this Agreement, any Operative Agreement or the
Notes to the contrary notwithstanding, any payment of principal of or Make-Whole
Amount or interest on any Note that is due on a date other than a Business Day
shall be made on the next succeeding Business Day without including the
additional days elapsed in the computation of the interest payable on such next
succeeding Business Day.

22.3.    Severability.

                  Any provision of this Agreement that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall (to the full extent permitted by law) not invalidate or
render unenforceable such provision in any other jurisdiction.

22.4.    Construction.

                  Each covenant contained herein shall be construed (absent
express provision to the contrary) as being independent of each other covenant
contained herein, so that compliance with any one covenant shall not (absent
such an express contrary provision) be deemed to excuse compliance with any
other covenant. Where any provision herein refers to action to be taken by

                                       41

<PAGE>

any Person, or which such Person is prohibited from taking, such provision shall
be applicable whether such action is taken directly or indirectly by such
Person.

22.5.    Counterparts.

                  This Agreement may be executed in any number of counterparts,
each of which shall be an original but all of which together shall constitute
one instrument. Each counterpart may consist of a number of copies hereof, each
signed by less than all, but together signed by all, of the parties hereto.

22.6.    Governing Law.

                  This Agreement shall be construed and enforced in accordance
with, and the rights of the parties shall be governed by, the law of the State
of Illinois excluding choice-of-law principles of the law of such State that
would require the application of the laws of a jurisdiction other than such
State.

                                    * * * * *

                                       42

<PAGE>

                  If you are in agreement with the foregoing, please sign the
form of agreement on the accompanying counterpart of this Agreement and return
it to the Company, whereupon the foregoing shall become a binding agreement
between you and the Company.

                                       Very truly yours,

                                       HEWITT PROPERTIES I LLC

                                       By: /s/ Gerald I. Wilson
                                           -------------------------------------
                                               Gerald I. Wilson, Manager

                                       HEWITT ASSOCIATES, LLC,
                                       For purposes of Sections 4, 5, 7, 9, 10,
                                       11 and 17 only,

                                       By: /s/ JOHN M. RYAN
                                           -------------------------------------
                                           John M. Ryan, Chief Administrative
                                           Officer

                                       The foregoing is hereby agreed to as of
                                        the date thereof.

                                       BY: PPM AMERICA, INC., as attorney in
                                       fact, on behalf of JACKSON NATIONAL LIFE
                                       INSURANCE COMPANY

                                       By:    /s/ David Brett
                                              ----------------------------------
                                       Title: Vice President
                                              ----------------------------------

                                       CONNECTICUT GENERAL LIFE
                                       INSURANCE COMPANY
                                       By: CIGNA INVESTMENTS, INC.

                                       By: /s/ Debra J. Height
                                           -------------------------------------
                                       Name: Debra J. Height
                                             -----------------------------------
                                       Title: Managing Director
                                              ----------------------------------

                                       43

<PAGE>

                                       TRANSAMERICA OCCIDENTAL LIFE
                                       INSURANCE COMPANY

                                       By: /s/ Joleen Casgini
                                           -------------------------------------
                                       Title: Investment Manger
                                              ----------------------------------

                                       THE MINNESOTA MUTUAL LIFE
                                       INSURANCE COMPANY

                                       By: MIMLIC Asset Management Company

                                       By: /s/ Lynne M. Miels
                                           -------------------------------------
                                           Vice President

                                       THE CANADA LIFE ASSURANCE COMPANY

                                       By:    /s/ Kevin Phelan
                                           -------------------------------------
                                       Title: Assistant Treasurer
                                              ----------------------------------

                                       CANADA LIFE INSURANCE COMPANY OF
                                       AMERICA

                                       By:    /s/ Kevin Phelan
                                           -------------------------------------
                                       Title: Assistant Treasurer
                                              ----------------------------------

                                       44

<PAGE>

                                                                    SCHEDULE A-1

                       INFORMATION RELATING TO PURCHASERS

Name and Address of Noteholder                        Principal Amount of Notice
------------------------------                        --------------------------

Jackson National Life Insurance Company                      $35,000,000
5901 Executive Drive
Lansing, MI 48909

Please wire all payments as follows:

NORTHERN TRUST CHGO
ABA #0710-0015-2
Credit Account #5186041000(General ledger
for all clients of Northern Trust)
For Further Credit to: 26-91241/
Jackson National Life Insurance Company
Ref (Hewitt Properties I LLC) PVTPL,
date of payment, principal and interest
     breakdown.
Attn: Oscell Owens/Marilyn Calpe

Physical securities (notes & certificates)
and original documents, should be delivered
as follows:

NORTHERN TRUST COMPANY
40 Broad Street, 19th Floor
Acct. #2691241/
Jackson National Life Insurance Company
New York, NY 10004
Attn: Jose Mero

                                   Schedule A

<PAGE>

General notices should be faxed to
Attn. Portfolio Administration at the following:

PPM AMERICA, INC.
225 West Wacker Drive, Suite 1200
Chicago, II. 60606-1228
Attn: Private Placement
Tel: (312) 634-2510
Fax: (312) 634-0054

Interest and principal payment notices should also be faxed to:

    Northern Trust                           PPM America, Inc.
    801 S. Canal, Floor CIN                  225 West Wacker Drive, Suite 1200
    Chicago, II. 60607                       Chicago, II. 60606
    Tel: (312) 444-5754                      Tel: (312) 634-2586
    Fax: (312) 630-8179                      Fax: (312) 634-0054
    ATTN: Marilyn Calpe                      ATTN: Portfolio Admin-Colin Atkins

Tax ID Number:    38-1659835

                                        2
                                   Schedule A

<PAGE>

--------------------------------------------------------------------------------
Purchaser Name                     CONNECTICUT GENERAL LIFE INSURANCE
                                   COMPANY
--------------------------------------------------------------------------------
Name in Which Note is to be        CIG & Co.
Registered
--------------------------------------------------------------------------------
Principal Amounts                  Closing 1
                                   $1,400,000
                                   $1,000,000
                                   $600,000
                                   Closing 2
                                   $1,400,000
                                   $1,000,000
                                   $600,000
                                   Closing 3
                                   $1,400,000
                                   $1,000,000
                                   $600,000
                                   Closing 4
                                   $1,400,000
                                   $1,000,000
                                   $600,000
                                   Closing 5
                                   $1,400,000
                                   $1,000,000
                                   $600,000
--------------------------------------------------------------------------------
Payment on Account of
Notes

    Method                         Federal Funds Wire Transfer
    Account Information            Chase NYC/CTR/
                                   BNF=CIGNA Private Placements/AC=9009001802
                                   ABA#021000021
--------------------------------------------------------------------------------
Accompanying Information           OBI= [Hewitt Properties I LLC; Secured Credit
                                   Tenant Notes; ____ %; due October 30, 2018,
                                   PPN 42823@AA3; due date and application (as
                                   among principal, premium and interest of
                                   payment being made; contact name and phone.]
--------------------------------------------------------------------------------

                                        3
                                   Schedule A

<PAGE>

--------------------------------------------------------------------------------
Address for Notices Related to    CIG & Co.
Payments                          c/o CIGNA Investments, Inc.
                                  Attention: Securities Processing S-309
                                  900 Cottage Grove Road
                                  Hartford, CT 06152-2309
                                  CIG & Co.
                                  c/o CIGNA Investments, Inc.
                                  Attention: Private Securities - S307
                                  Operations Group
                                  900 Cottage Grove Road
                                  Hartford, CT 06152-2307
                                  Fax: 860-726-7203
                                  with a copy to:
                                  Chase Manhattan Bank, N.A
                                  Private Placement Servicing
                                  P.O. Box 1508
                                  Bowling Green Station New
                                  York, New York 10081
                                  Attention: CIGNA Private Placements
                                  FAX: 212-552-3107/1005

--------------------------------------------------------------------------------
Address for All Other             CIG & Co.
Notices                           c/o CIGNA Investments, Inc.
                                  Attention: Private Securities Division - S-307
                                  James G. Shelling
                                  900 Cottage Grove Road
                                  Hartford, Connecticut 06152-2307
                                  FAX: 860-726-7203
--------------------------------------------------------------------------------
Tax Identification Number         13-3574027
--------------------------------------------------------------------------------

                                        4
                                   Schedule A

<PAGE>

Name and Address of Noteholder                       Principal Amount of Note
------------------------------                       ------------------------

Transamerica Life Insurance and Annuity Company               $10,000,000

The address to which all documents (other than the
Notes) and notices should be sent is as follows:

      Transamerica Life Companies
      P.O. Box 2102 - Securities Accounting
      Los Angeles CA 90051-0101

All payments on account of the Notes shall be made
by wire transfer of immediately available funds to:

      Federal Reserve Bank of Boston
      Boston Safe Deposit & Trust
      Boston MA
      ABA #011-001-234
      DDA: 12-526-1
      FFC: Cost Center 1253
           Transamerica Life Insurance and Annuity Company
           Account Segment: IJNI
           Account No.      TRAF 1505102
           Ref 42823@ AB 1 and Description

Physical Delivery Instructions:
           Mellon Securities Trust Co.
           120 Broadway Street
           13th Floor
           New York NY 10271
           Attn.:  Tony Bellow (212) 374-0124
                   Transamerica Occidental Life Insurance Company
                   Account Segment: UNI
                   Account No. TRAF 1505102
                   Ref.: 42823@ AA 3 and Description

TAX ID#: 95-1060502

                                        5
                                   Schedule A

<PAGE>

<TABLE>
<CAPTION>
Name and Address of Noteholder                                         Principal Amount of Notice
------------------------------                                         --------------------------
<S>                                                                    <C>
The Minnesota Mutual Life Insurance Company                                    $10,000,000

The address to which the Notes, all other documents and
notices should be sent is as follows:

     The Minnesota Mutual Life Insurance Company
     400 Robert Street North
     St. Paul, Minnesota 55101
     Attention: MIMLIC Asset Management Company
     Fax No. (612) 223-5959

The wire transfer address is as follows:

     All payments on account of the Notes shall be
     made by wire transfer of immediately available funds to:

     First Bank National Association
     Minneapolis, Minnesota
     ABA #091000022
     BNF The Minnesota Mutual Life Insurance Company
     Account #1801-10-00600-4
     (with sufficient information to identify the source
     and application of such funds).

Tax ID #41-0417830
</TABLE>

                                        6
                                   Schedule A

<PAGE>

<TABLE>
<CAPTION>
Name and Address of Noteholder                                         Principal Amount of Notice
------------------------------                                         --------------------------
<S>                                                                    <C>
The Canada Life Assurance Company                                             $2,000,000
330 University Avenue
Toronto, Ontario, Canada M5G 1R8

For regular Principal and Interest Payments
-------------------------------------------
     CHASE MANHATTAN BANK
     ABA 021-000-021
     A/C #544-755-102
     Trust Account No. AR78-63909,
     The Canada Life Assurance Company
     Attn: Mr. Richard Boxer
REFER TO:  Name of issuer, rate, maturity date, type of security,
whether principal and/or interest and due date.

For Call or Maturity:
--------------------
     CHASE MANHATTAN BANK
     ABA 021-000-021
     A/C #400-452-073
     Trust Account No. AR78-63909,
     The Canada Life Assurance Company
     Attn: Mr. Richard Boxer
REFER TO: Name of issuer, rate, maturity date, type of security,
whether principal and/or interest and due date.

Send notices of payments and written confirmation of wire transfers
to:      CHASE MANHATTAN BANK
         North America Insurance
         3 Chase Metro Tech Centre - 6th Floor
         Brooklyn, N.Y. 11245
         Attn: Mr. Richard Boxer

copy to: The Canada Life Assurance Company
         330 University Avenue, SP-12
         Toronto, Ontario, Canada M5G 1R8
         Attn: Supervisor, Securities Accounting
         Fax: (416) 597-2609
</TABLE>

                                        7
                                   Schedule A

<PAGE>

Send financial statements and all other communications to:
          The Canada Life Assurance Company
          Corporate Treasury, SP-11
          330 University Avenue
          Toronto, Ontario, Canada M5G 1R8
Attn: BRIAN LYNCH, Associate Treasurer,
          U.S. Private Placements
          Fax: (416) 597-9678

Tax ID Number: 38-0397420
Register Notes in the name of Cummings & Co.

                                        8
                                   Schedule A

<PAGE>

<TABLE>
<CAPTION>
Name and Address of Noteholder                                         Principal Amount of Notice
------------------------------                                         --------------------------
<S>                                                                    <C>
The Canada Life Assurance Company                                              $3,000,000
330 University Avenue
Toronto, Ontario, Canada M5G 1R8

For regular Principal and Interest Payments
-------------------------------------------
     CHASE MANHATTAN BANK
     ABA 021-000-021
     A/C #544-755-102
     Trust Account No. AR78-64004, Canada Life of America
     Attn: Mr. Richard Boxer
REFER TO: Name of issuer, rate, maturity date, type of security,
whether principal and/or interest and due date.

For Call or Maturity:
--------------------
     CHASE MANHATTAN BANK
     ABA 021-000-021
     A/C #400-452-073
     Trust Account No. AR78-64004, Canada Life of America
     Attn: Mr. Richard Boxer
REFER TO: Name of issuer, rate, maturity date, type of security,
whether principal and/or interest and due date.

Send notices of payments and written confirmation of wire transfers to:
          CHASE MANHATTAN BANK
          North America Insurance
          3 Chase Metro Tech Centre - 6th Floor
          Brooklyn, N.Y. 11245
          Attn: Mr. Richard Boxer

copy to:  The Canada Life Assurance Company
          330 University Avenue, SP-12
          Toronto, Ontario, Canada M5G 1R8
          Attn: Supervisor, Securities Accounting
          Fax: (416) 597-2609
</TABLE>

                                        9
                                   Schedule A

<PAGE>

Send financial statements and all other communications to:
          The Canada Life Assurance Company
          Corporate Treasury, SP-11
          Toronto, Ontario, Canada M5G 1R8
Attn: BRIAN LYNCH, Associate Treasurer, U.S. Private Placements
          Fax: (416) 597-9678

Tax ID Number: 38-2816473
Register Notes in the name of Cummings & Co.

                                       10
                                   Schedule A

<PAGE>

                                                                      SCHEDULE B

                                  DEFINED TERMS

          As used herein, the following terms have the respective meanings set
forth below or set forth in the Section hereof following such term:

          "Affiliate" means, at any time, and with respect to any Person, (a)
any other Person that at such time directly or indirectly through one or more
intermediaries Controls, or is Controlled by, or is under common Control with,
such first Person, (b) any Person beneficially owning or holding, directly or
indirectly 7% or more of any class of voting or equity interests of the Company,
the Tenant or any Subsidiary or any corporation of which the Company, the Tenant
and the Subsidiaries beneficially own or hold, in the aggregate, directly or
indirectly, 7% or more of any class of voting or equity interests; and (c) any
Manager or officer of the Company or the Tenant. As used in this definition,
"Control" means the possession, directly or indirectly, of the power to direct
or cause the direction of the management and policies of a Person, whether
through the ownership of voting securities, by contract or otherwise. Unless the
context otherwise clearly requires, any reference to an "Affiliate" is a
reference to an Affiliate of the Company or the Tenant.

          "Assignment of Leases and Rents" means that certain Assignment of
Leases and Rents, dated as of. October 1, 1997, from the Company to the
Collateral and Paying Agent, as agent for the Purchasers, relating to the
Property and assigning the Company's rights to receive rent under its leases,
including the Lease.

          "Business Day" means (a) for the purposes of Section 8.7 only, any day
other than a Saturday, a Sunday or a day on which commercial banks in New York
City are required or authorized to be closed, and (b) for the purposes of any
other provision of this Agreement, any day other than a Saturday, a Sunday or a
day on which commercial banks in Chicago, Illinois or Minneapolis, Minnesota are
required or authorized to be closed.

          "Capital Lease" means, at any time, a lease with respect to which the
lessee is required concurrently to recognize the acquisition of an asset and the
incurrence of a liability in accordance with GAAP.

          "Closing" is defined in Section 3.

          "Code" means the Internal Revenue Code of 1986, as amended from time
to time, and the rules and regulations promulgated thereunder from time to time.

          "Collateral and Paying Agent" means Harris Trust and Savings Bank.

          "Collateral Agency and Paying Agreement" means that certain Collateral
Agency and Paying Agreement, dated as of October 1, 1997, among the Company, the
Collateral and Paying Agent, the Tenant and the Purchasers.

<PAGE>

          "Company" means Hewitt Properties I LLC, a limited liability company
organized under the laws of Illinois.

          "Confidential Information" is defined in Section 20.

          "Consolidated Funded Indebtedness" means Funded Indebtedness of the
Tenant and its Restricted Subsidiaries determined on a consolidated basis in
accordance with GAAP.

          "Consolidated Net Capital" shall mean the consolidated members'
capital of the Tenant, as determined in accordance with GAAP, less Restricted
Investments in excess of 20% of consolidated members' capital of the Tenant.

          "Consolidated Net Income" shall mean consolidated net income and net
losses of the Tenant and its Restricted Subsidiaries, as determined in
accordance with GAAP, after excluding the sum of (i) any net loss or any
undistributed net income of any Person in which the Tenant has an ownership
interest other than a Restricted Subsidiary; (ii) any net loss or any
undistributed net income of any Restricted Subsidiary prior to the date it
became a Restricted Subsidiary; (iii) any gain or net loss (net of any tax
effect) resulting from the sale of any capital assets other than in the ordinary
course of business; (iv) extraordinary, unusual, or nonrecurring gains or
losses; (v) gains resulting from the write-up of assets; (vi) any earnings of
any Restricted Subsidiary unavailable for payment to the Tenant or another
Restricted Subsidiary; (vii) proceeds of any insurance policy; and (viii)
reversal of any contingency reserves not created during the period.

          "Consolidated Total Assets" means the total assets of the Tenant and
its Restricted Subsidiaries, determined on a consolidated basis in accordance
with GAAP.

          "Current Indebtedness" shall mean, Indebtedness other than Funded.

          "Default" means an event or condition the occurrence or existence of
which would, with the lapse of time or the giving of notice or both, become an
Event of Default.

          "Default Rate" means that rate of interest that is the greater of (i)
2% per annum above the rate of interest then payable under the Notes or (ii) 2%
over the rate of interest publicly announced by Harris Trust and Savings Bank in
Chicago, Illinois as its "base" or "prime" rate.

          "Disposition" is defined in Section 10.9.

          "Environmental Laws" means any and all Federal, state, local, and
foreign statutes, laws, regulations, ordinances, rules, judgments, orders,
decrees, permits, concessions, grants, franchises, licenses, agreements or
governmental restrictions relating to pollution and the protection of the
environment or the release of any materials into the environment, including but
not limited to those related to hazardous substances or wastes, air emissions
and discharges to waste or public systems.

<PAGE>

          "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended from time to time, and the rules and regulations promulgated thereunder
from time to time in effect.

          "ERISA Affiliate" means any trade or business (whether or not
incorporated) that is treated as a single employer together with the Company or
the Tenant under section 414 of the Code.

          "Event of Default" is defined in Section 11.

          "Exchange Act" means the Securities Exchange Act of 1934, as amended.

          "Final Project Completion" shall have the meaning set forth in the
Lease.

          "Foreign Pension Plan" means any plan, fund or other similar program

          (a)  established or maintained outside of the United States of America
by the Tenant or any Subsidiary thereof primarily for the benefit of the
employees (substantially all of whom are not citizens of, and not residing in,
the United States of America) of the Tenant or any Subsidiary thereof, which
plan, fund or other similar program provides for retirement income for such
employees or results in a deferral of income for such employees in contemplation
of retirement, and

          (b)  not otherwise subject to ERISA.

          "Foreign Restricted Subsidiary" means any Restricted Subsidiary of the
Tenant organized under the laws of a country other than the United States.

     "Funded Indebtedness" means all Indebtedness which would, in accordance
with GAAP, constitute long-term Indebtedness, including, but not limited to, (a)
any Indebtedness for borrowed money with a maturity more than one year after the
applicable date of determination, (b) any portion thereof which is renewable at
the option of the obligor for a period of more than one year, (c) any
Indebtedness outstanding under a revolving credit or similar agreement providing
for borrowings (and renewals and extensions thereof) over a period of more than
one year (including, without limitation, an option of such obligor obligating
the lender or lenders to extend credit over a period of one year or more), (d)
any Capitalized Lease obligation maturing more than one year after the date as
of which the computation was made and (e) any Guaranty with respect to Funded
Indebtedness of another Person.

          "Funding Date" means each of October 30, 1997, January 30, 1998, April
30, 1998, July 30, 1998 and October 30, 1998, which are the dates on which the
Notes will be funded.

          "GAAP" means generally accepted accounting principles as in effect
from time to time in the United States of America.

<PAGE>

          "Governmental Authority" means

          (a) the government of

               (i)  the United States of America or any State or other political
          subdivision thereof, or

               (ii) any jurisdiction in which the Company, the Tenant or any
          Subsidiary conducts all or any part of its business, or which asserts
          jurisdiction over any properties of the Company, the Tenant or any
          Subsidiary, or

          (b) any entity exercising executive, legislative, judicial, regulatory
     or administrative functions of, or pertaining to, any such government.

          "Guarantor" means Hewitt Holdings, as Guarantor under the Interim
Guaranty.

          "Guaranty" means, with respect to any Person, any obligation (except
the endorsement in the ordinary course of business of negotiable instruments for
deposit or collection) of such Person guaranteeing or in effect guaranteeing any
indebtedness, dividend or other obligation of any other Person in any manner,
whether directly or indirectly, including (without limitation) obligations
incurred through an agreement, contingent or otherwise, by such Person:

          (a) to purchase such indebtedness or obligation or any property
     constituting security therefor;

          (b) to advance or supply funds (i) for the purchase or payment of such
     indebtedness or obligation, or (ii) to maintain any working capital or
     other balance sheet condition or any income statement condition of any
     other Person or otherwise to advance or make available funds for the
     purchase or payment of such indebtedness or obligation;

          (c) to lease properties or to purchase properties or services
     primarily for the purpose of assuring the owner of such indebtedness or
     obligation of the ability of any other Person to make payment of the
     indebtedness or obligation; or

          (d) otherwise to assure the owner of such indebtedness or obligation
     against loss in respect thereof.

In any computation of the indebtedness or other liabilities of the obligor under
any Guaranty, the indebtedness or other obligations that are the subject of such
Guaranty shall be assumed to be direct obligations of such obligor.

          "Hazardous Material" means any and all pollutants, toxic or hazardous
wastes or any other substances that might pose a hazard to health or safety, the
removal of which may be required or the generation, manufacture, refining,
production,

<PAGE>

processing, treatment, storage, handling, transportation, transfer, use,
disposal, release, discharge, spillage, seepage, or filtration of which is or
shall be restricted, prohibited or penalized by any applicable law (including,
without limitation, asbestos, urea formaldehyde foam insulation and
polycholorinated biphenyls).

          "Hewitt Holdings" means Hewitt Holdings LLC, a limited liability
company organized under the laws of Illinois.

          "holder" means, with respect to any Note, the Person in whose name
such Note is registered in the register maintained by the Company pursuant to
Section 13.1.

          "Indebtedness" with respect to any Person means, at any time, without
duplication,

          (a) its liabilities for borrowed money and its redemption obligations
     in respect of mandatorily redeemable Preferred Stock;

          (b) its liabilities for the deferred purchase price of property
     acquired by such Person (excluding accounts payable arising in the ordinary
     course of business but including all liabilities created or arising under
     any conditional sale or other title retention agreement with respect to any
     such property);

          (c) all liabilities appearing on its balance sheet in accordance with
     GAAP in respect of Capital Leases;

          (d) all liabilities for borrowed money secured by any Lien with
     respect to any property owned by such Person (whether or not it has assumed
     or otherwise become liable for such liabilities);

          (e) all its liabilities in respect of letters of credit or instruments
     serving a similar function issued or accepted for its account by banks and
     other financial institutions (whether or not representing obligations for
     borrowed money);

          (f) Swaps of such Person; and

          (g) any Guaranty of such Person with respect to liabilities of a type
     described in any of clauses (a) through (f) hereof.

Indebtedness of any Person shall include all obligations of such Person of the
character described in clauses (a) through (g) to the extent such Person remains
legally liable in respect thereof notwithstanding that any such obligation is
deemed to be extinguished under GAAP.

          "Institutional Investor" means (a) any original purchaser of a Note,
(b) any holder of a Note holding more than 5% of the aggregate principal amount
of the Notes then outstanding, and (c) any bank, trust company, savings and loan
association or other financial institution, any pension plan, any investment
company, any insurance

<PAGE>

company, any broker or dealer, or any other similar financial institution or
entity, regardless of legal form.

          "Interests" is defined in Section 10.10.

          "Interim Guaranty" means that certain Guaranty Agreement, dated as of
October 1, 1997, from Hewitt Holdings to the Purchasers.

          "Lien" means, with respect to any Person, any mortgage, lien, pledge,
charge, security interest or other encumbrance, or any interest or title of any
vendor, lessor, lender or other secured parry to or of such Person under any
conditional sale or other title retention agreement or Capital Lease, upon or
with respect to any property or asset of such Person (including in the case of
stock, stockholder agreements, voting trust agreements and all similar
arrangements).

          "Lease" means that certain Lease Agreement dated as of October 1,
1997, between the Company and the Tenant.

          "Make-Whole Amount" is defined in Section 8.7.

          "Manager" shall mean "Manager" as such term is defined in the
Operating Agreement or the Tenant Operating Agreement.

          "Material" means (i) with respect to the Company, material in relation
to the business, operations, affairs, financial condition, assets, properties or
prospects of the Company and (iii) with respect to the Tenant, material in
relation to the business, operations, affairs, financial condition, assets,
properties, or prospects of the Tenant and its Subsidiaries taken as a whole.

          "Material Adverse Effect" means (i) with respect to the Company, a
material adverse effect on (x) the business, operations, affairs, financial
condition, assets or properties of the Company (y) the ability of the Company to
perform its obligations under this Agreement, the Operative Agreements and the
Notes, (z) the validity or enforceability of the Agreement, the Operative
Agreements or the Notes and (ii) with respect to the Tenant, a material adverse
effect on (a) the business, operations, affairs, financial condition, assets or
properties of the Tenant or the Subsidiaries taken as a whole, or (b) the
ability of the Tenant to perform its obligations under this Agreement and the
Operative Agreements, or (c) the validity or' enforceability of this Agreement
and the Operative Agreements.

          "Memorandum" is defined in Section 5.3.

          "Mortgage" means that certain Mortgage and Security Agreement, dated
as of October 1, 1997, executed by the Company, granting to the Collateral and
Paying Agent, on behalf of the holders of the Notes, a first mortgage Lien on
the Property.

          "Multiemployer Plan" means any Plan that is a "multiemployer plan" (as
such term is defined in section 4001(a)(3) of ERISA).

<PAGE>

             "Notes" is defined in Section l.

             "Officer's Certificate" means a certificate of a Senior Financial
Officer or of any other officer of the Company or the Tenant, as applicable,
whose responsibilities extend to the subject matter of such certificate.

             "Operating Agreement" means the Operating Agreement of the Company
as amended from time to time.

             "Operative Agreements" means the Agreement, the Notes, the Interim
Guaranty, the Lease, the Security Documents and the Collateral Agency and Paying
Agreement.

             "PBGC" means the Pension Benefit Guaranty Corporation referred to
and defined in ERISA or any successor thereto.

             "Permitted Investments" means clauses (ii), (iii), (iv), (v) and
(vi) of the definition of Restricted Investments.

             "Person" means an individual, partnership, corporation, limited
liability company, association, trust, unincorporated organization, or a
government or agency or political subdivision thereof.

             "Plan" means an "employee benefit plan" (as defined in section 3(3)
of ERISA) that is or, within the preceding five years, has been established or
maintained, or to which contributions are or, within the preceding five years,
have been made or required to be made, by the Company or any ERISA Affiliate or
with respect to which the Company, the Tenant or any ERISA Affiliate may have
any liability.

             "Preferred Stock" means any class of capital stock of a corporation
that is preferred over any other class of capital stock of such corporation as
to the payment of dividends or the payment of any amount upon liquidation or
dissolution of such corporation.

             "Property" means the property commonly known as that certain 31
acre tract in Lincolnshire, Illinois being an approximately 513,000 square foot
suburban office building, pavilion and technical center complex and legally
described in the Mortgage.

             "property" or "properties" means, unless otherwise specifically
limited, real or personal property of any kind, tangible or intangible, choate
or inchoate.

             "QPAM Exemption" means Prohibited Transaction Class Exemption 84-14
issued by the United States Department of Labor.

             "Required Holders" means, at any time, the holders of at least 51%
in principal amount of the Notes at the time outstanding (exclusive of Notes
then owned by the Company, the Tenant or any of its or their Affiliates).

<PAGE>

             "Responsible Officer" means any Manager, Senior Financial Officer
or any other officer of the Company, or the Tenant, as the case may be, with
responsibility for the administration of the relevant portion of this Agreement.

             "Restricted Investments" means any investment in securities or
extensions of credit by the Tenant and its Restricted Subsidiaries other than:

             (i)     existing investments owned by the Tenant or any Restricted
      Subsidiary and listed on Schedule C hereto;

             (ii)    direct obligations of the U.S. Government or any agency or
      instrumentality thereof or obligations guaranteed by the full faith ` and
      credit of the United States of America maturing no later than three years
      from the date of acquisition;

             (iii)   certificates of deposit and banker's acceptances issued by
      commercial banks or trust companies organized under the laws of the United
      States or any State thereof, each having capital, surplus and undivided
      profits aggregating $100,000,000 and ratings of its long-term unsecured
      debt obligations by Standard & Poor's Corp. or Moody's Investors Service
      of at least "AA" or "Aa2," respectively;

             (iv)    commercial paper of a U.S. domestic issuer rated no lower
      than "A-2" by Standard & Poor's Corp. or "P-2" by Moody's Investors
      Service and maturing not more than 270 days after the date of acquisition;

             (v)     investment obligations in direct obligations of any state
      or municipality within the United States maturing no later than three
      years from the date of acquisition and rated at least "AA" by Standard &
      Poor's Corp. or "Aa2" by Moody's Investors Service;

             (vi)    investments in or loans` to Restricted Subsidiaries or
      companies that will immediately, as a result of such investment, become
      Restricted Subsidiaries;

             (vii)   investments in money market investment programs rated at
      least "AA" by Standard & Poor's Corp. and "Aa" by Moody's Investors
      Service, the investment of which is classified as a current asset in
      accordance with GAAP; and

             (viii)  property to be used in the ordinary course of business.

As of the date of any determination, each Restricted Investment shall be valued
at the greater of (a) cost or (b) the value of such Restricted Investments as
shown on the books of the Tenant and as determined in accordance with GAAP (or
zero if such Restricted Investment is not shown on such books).

             "Restricted Subsidiary" means any Subsidiary (i) of which at least
      80% of the voting securities are owned by the Tenant and/or one or more
      Wholly-Owned

<PAGE>

Restricted Subsidiaries, (ii) which is organized under the laws of the United
States or any state thereof, Canada, Europe, Mexico, South America, Asia, Japan
or Australia, (iii) which maintains substantially all of its assets and conducts
substantially all of its business within the United States, Canada, Europe,
Mexico, South America, Asia, Japan or Australia and (iv) which the Tenant has
designated a Restricted Subsidiary by notice in writing given to the holders of
the Notes.

             "Sale and Lease-Back Transaction" means any arrangement, directly
or indirectly, with any Person whereby a seller or a transferor shall sell or
otherwise transfer any real or personal property and then or thereafter lease
(whether or not a Capital Lease), or repurchase under an extended purchase
contract, the same or similar property from the purchaser or the transferee of
such property.

             "Securities Act" means the Securities Act of 1933, as amended from
time to time.

             "Security Documents" means the Mortgage, the Assignment of Leases
and Rents, the Subordination Agreement and any other agreements, filings,
financing statements entered into in connection therewith or pursuant to the
terms of the Agreement or the Operative Agreements.

             "Senior Financial Officer" means the chief financial officer, chief
administrative officer, principal accounting officer, treasurer or comptroller
of the Company or the Tenant, as the case may be.

             "Subordinated Indebtedness" means any Indebtedness which, in any
manner, is subordinated in right of payment to the Indebtedness evidenced by the
Notes.

             "Subordination Agreement" means that certain Agreement of
Subordination, Nondisturbance and Attornment dated as of October 1, 1997 between
Tenant and Collateral and Paying Agent.

             "Subsequent Closings" is defined in Section 3.

             "Subsidiary" means, as to any Person, any corporation, association
or other business entity in which such Person or one or more of its Subsidiaries
or such Person and one or more of its Subsidiaries owns sufficient equity or
voting interests to enable it or them (as a group) ordinarily, in the absence of
contingencies, to elect a majority of the directors (or Persons performing
similar functions) of such entity, and any partnership or joint venture if more
than a 50% interest in the profits or capital thereof is owned by such Person or
one or more of its Subsidiaries or such Person and one or more of its
Subsidiaries (unless such partnership can and does ordinarily take major
business actions without the prior approval of such Person or one or more of its
Subsidiaries). Unless the context otherwise clearly requires, any reference to a
"Subsidiary" is a reference to a Subsidiary of the Tenant.

             "Swaps" means, with respect to any Person, payment obligations with
respect to interest rate swaps, currency swaps and similar obligations
obligating such

<PAGE>

Person to make payments, whether periodically or upon the happening of a
contingency. For the purposes of this Agreement, the amount of the obligation
under any Swap shall be the amount determined in respect thereof as of the end
of the then most recently ended fiscal quarter of such Person, based on the
assumption that such Swap had terminated at the end of such fiscal quarter, and
in making such determination, if any agreement relating to such Swap provides
for the netting of amounts payable by and to such Person thereunder or if any
such agreement provides for the simultaneous payment of amounts by and to such
Person, then in each such case, the amount of such obligation shall be the net
amount so determined.

             "Taxes" shall mean all Federal, state, local or other taxing
authority, income, franchise, sales use ad valorem, property, payroll, social
security, unemployment assets, value added, withholding, excise, severance,
transfer, employment alternative or add-on minimum taxes and other taxes,
charges, fees, levies, imposts, duties, licenses and other assessments together
with any interest and any penalties, additions to tax or additional amounts
imposed by any taxing authority.

             "Tax Return" shall mean any return, declaration, report, claim for
refund or information return (including but not limited to partnership returns)
relating to Taxes, including but not limited to any schedule or attachment
thereto.

             "Tenant" means Hewitt Associates LLC as tenant under the Lease.

             "Tenant Operating Agreement" means the Operating Agreement of
Tenant as amended from time to time.

             "Treasury Rate" means the arithmetic average of (a) the difference,
as expressed in yield, between the yield on the bellwether 30 year U.S. treasury
security and the yield on the bellwether 10 year U.S. treasury security, both as
reported on page PXI of Bloomberg, divided by 20, which shall then be multiplied
by the difference between (x) the Average Life of the relevant Funding and (y)
10 years, which shall then be added to the yield on the bellwether 10 year U.S.
treasury security and (b) the yield on the U.S. treasury security bearing a
coupon interest rate of 10%, due May, 2010, as reported on page PX7 of
Bloomberg. For the purpose hereof, Average Life shall mean the number of years
obtained by dividing (a) the principal amount of the relevant Funding, into (b)
the sum of the products obtained by multiplying (i) the principal payments
associated with such Notes by (ii) the number of years which will elapse in the
making of such principal payments, assuming the Notes are not prepaid pursuant
to any optional prepayment mechanism.

             By way of illustration, the October 30, 1997 Funding calculation is
as follows using the May 2011 treasury:

             (a)   (6.39-6.11) x (13.3-10.0) + 6.11 = 6.15
                    ---------
                        20

             (b)   6.24 (May 2011 treasury)

<PAGE>

average:            6.20
plus spread          .82 = 7.02% (interest rate on Funding)
                           ----

             "Total Capitalization" shall mean the sum of (i) Consolidated
Funded Indebtedness and (ii) Consolidated Net Capital and (iii) solely for the
purpose of calculating the limitation on Current Indebtedness, Current
Indebtedness of the Tenant and its Restricted Subsidiaries (determined on a
consolidated basis in accordance with GAAP).

             "Unrestricted Subsidiary" shall mean any Subsidiary not designated
a Restricted Subsidiary.

             "Wholly-Owned Restricted Subsidiary" means, at any time, any
Restricted Subsidiary one hundred percent (100%) of all of the equity interests
(except (i) directors' qualifying shares, (ii) shares not in excess of 5% of the
outstanding shares of any Foreign Restricted Subsidiary issued to a Person
employed by such Foreign Restricted Subsidiary and (iii) shares not in excess of
1% (3.5% in the case of the Tenant's German Foreign Restricted Subsidiary) of
the outstanding shares of a Foreign Restricted Subsidiary issued to Hewitt
Holdings) and voting interests of which are owned by any one or more of the
Tenant and the Tenant's other Wholly-Owned Restricted Subsidiaries at such time.

<PAGE>

                             NOTE PURCHASE AGREEMENT

                             HEWITT PROPERTIES I LLC
                          $75,000,000 Principal Amount
                           Secured Credit Tenant Notes
                                    Due 2018

                                   SCHEDULE C
                              Existing Investments

                                      None

<PAGE>

                             NOTE PURCHASE AGREEMENT

                             HEWITT PROPERTIES I LLC
                          $75,000,000 Principal Amount
                           Secured Credit Tenant Notes
                                    Due 2018

                                  SCHEDULE 4.9

           Any Changes to Jurisdiction of Formation/Been a Party to a
                             Merger or Consolidation

                                     -NONE-

<PAGE>

                             NOTE PURCHASE AGREEMENT

                             HEWITT PROPERTIES I LLC
                          $75,000,000 Principal Amount
                           Secured Credit Tenant Notes
                                    Due 2018

                                  SCHEDULE 5.3

               Any Changes to Company, Tenant or Subsidiaries Not
         Previously Disclosed Expected to Have a Material Adverse Effect

                                     -NONE-

<PAGE>

                            NOTE PURCHASE AGREEMENT

                             HEWITT PROPERTIES I LLC
                          $75,000,000 Principal Amount
                           Secured Credit Tenant Notes
                                    Due 2018

                                  SCHEDULE 5.4

                                  See Attached

<PAGE>

                             NOTE PURCHASE AGREEMENT

                             HEWITT PROPERTIES I LLC
                          $75,000,000 Principal Amount
                           Secured Credit Tenant Notes
                                    Due 2018

                                  SCHEDULE 5.4

(i)   List of Subsidiaries of Tenant (exclusive- of Subsidiaries which-
      individually and' in aggregate are not Material)

      a)   Foreign subsidiaries

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------
Country              City          Name                             Structure
--------------------------------------------------------------------------------------------------------
<S>                  <C>           <C>                              <C>
Australia**          Sydney        Hewitt Associates Pty. Ltd.      Wholly-owned subsidiary of Hewitt
                                                                    Associates LLC*
--------------------------------------------------------------------------------------------------------
Belgium**            Brussels      Hewitt Associates, S.A.          Wholly-owned subsidiary of Hewitt
                                                                    Associates LLC (as of 9/30197)*
--------------------------------------------------------------------------------------------------------
China**              Shanghai      Hewitt Eastgate (Shanghai)       Wholly-owned subsidiary of Hewitt
                                   Consulting Co. Ltd.              Associates LLC*
--------------------------------------------------------------------------------------------------------
France**             Paris         Hewitt Associates SARL           Wholly-owned subsidiary of Hewitt
                                                                    Associates LLC*
--------------------------------------------------------------------------------------------------------
Germany**            Wiesbaden     Hewitt Associates GmbH           96.5% held by Hewitt Associates
                                                                    LLC and 3.5% held by Hewitt
                                                                    Holdings LLC
--------------------------------------------------------------------------------------------------------
Indonesia**          Jakarta       PT Hewitt Konsultan Indonesia    Wholly-owned subsidiary of Hewitt
                                                                    Associates LLC*
--------------------------------------------------------------------------------------------------------
Italy**              Milan         Hewitt Associates Sri            Wholly-owned subsidiary of Hewitt
                                                                    Associates LLC*
--------------------------------------------------------------------------------------------------------
Japan**              Tokyo         Hewitt Associates                Wholly-owned subsidiary of Hewitt
                                                                    Associates LLC*
--------------------------------------------------------------------------------------------------------
New Zealand          Wellington    Hewitt Associates Limited        52% held by Hewitt Associates LLC
                                                                    and 4856 held by Grant O'Connell
--------------------------------------------------------------------------------------------------------
Poland**             Warsaw        Hewitt Associates                Wholly-owned subsidiary of Hewitt
                                                                    Associates LLC*
--------------------------------------------------------------------------------------------------------
Singapore**          Singapore     Hewitt Associates Pte. Ltd.      Wholly-owned subsidiary of Hewitt
                                                                    Associates LLC*
--------------------------------------------------------------------------------------------------------
Spain**              Madrid        Hewitt Associates, S.A.          Wholly-owned subsidiary of Hewitt
                                                                    Associates LLC*
--------------------------------------------------------------------------------------------------------
Thailand**           Bangkok       Hewitt Associates                Wholly-owned subsidiary of Hewitt
                                   (Thailand) Limited               Associates LLC*
--------------------------------------------------------------------------------------------------------
United Kingdom**     St Albans     Hewitt Associates Limited        Wholly-owned subsidiary of Hewitt
                                                                    Associates LLC*
--------------------------------------------------------------------------------------------------------
</TABLE>

__________________
** Designates a Restricted Subsidiary.
* Wholly-owned" means that at least 99% of the ownership interest in these
subsidiaries is held by Hewitt Associates LLC and affiliates.

<PAGE>

      b)   Other

        Annod Corp.**, a Delaware corporation (wholly-owned subsidiary of Hewitt
        Associates LLC)

(ii)  List of Affiliates of Tenant

      a)   Foreign affiliates

<TABLE>
<CAPTION>
Country       City          Name                               Structure
<S>           <C>           <C>                                <C>
Argentina     Buenos Aires  Hewitt Associates, S.A.            40% held by Hewitt Associates LLC and
                                                               60% by Alberto Fastman
Austria       Vienna        Hewitt, Rottig & Rutkowski         40% held by Hewitt Associates LLC and
                            Human Resources Consultants        60% owned by Paul Roettig and Hans Rutkowski
                            GmbH
Brazil        Sao Paulo     Hewitt Associates S.C. Limitada    40% held by Hewitt Associates LLC,
                                                               59% held by shareholders of Huggard-Carne S.C.
                                                               Ltda and 1% held by Andrea Huggard-Carne
Chile         Santiago      Hewitt Associates (Chile)          40% held by Hewitt Associates LLC and
                                                               60% held by Patricia Waldbaum
India         Bangalore     Noble & Hewitt (India) Pvt. Ltd.   33.336 held by Hewitt Associates LLC
              Mumbai                                           and 66.7% held by Noble House principals
              New Delhi
Mexico        Mexico City   lntergamma De Mexico S. de R.L     25% held by Hewitt Associates LLC and 75% hold
                            de C.V.                            by 12 partners of Intergamma
Netherlands   Amsterdam     Hewitt & Koelman International,    50/50 joint venture between Hewitt Associates
              Eindhoven     BV. (HKI)                          LLC and Heijnis & Koelman BV. The Dutch
              Rotterdam                                        partner holds on preference share.
              Utrecht
Philippines   Manila        Hewitt Strat Asia Inc.             40% held by Hewitt Associates LLC and
                                                               60% held by Strat Asia, Inc.
Puerto Rico   San Juan      Hewitt Associates Caribe, Inc,     40% held by Hewitt Associates LLC and
                                                               60% held by Caribe, Inc. principals
Switzerland   Neuchatel     PRASA Hewitt International A.G.    Registered name PRASA FIEWM A.G.
              Geneva        (PHI)                              44.5% held by Hewitt Associates LLC and
              Zurich                                           55.5% held by PRASA
Venezuela     Caracas       Hewitt Associates                  40% held by Hewitt Associates LLC and
                                                               60% held by Hewitt Associates Caribc. Inc,
</TABLE>

      b)   Other affiliates

        The Bayview Trust, an Illinois trust (100% of the beneficial interest
        held by Hewitt Holdings LLC);

        Overlook Associates, an Illinois partnership (51% held by Hewitt
        Holdings LLC and 49% held by Tower Parkway Associates);

        Hewitt Holdings LLC , an Illinois limited liability company (holder of
        99% of interest in Hewitt Associates LLC and Hewitt Properties I LLC);

        Hewitt Services LLC, an Illinois limited liability company (99% held by
        Hewitt Holdings LLC and 1% held by Hewitt Associates LLC );

        Hewitt Distributions LLC , an Illinois limited liability company (99%
        held by Hewitt Associates LLC and 1 % held by Hewitt Holdings LLC).

<PAGE>

        Hewitt Properties I LLC, an Illinois limited liability company (99% held
        by Hewitt Holdings LLC and I % held by Hewitt Services LLC).

(iii) List of Subsidiaries of Company

        None

(iv)  List of Affiliates of Company

      a)   Foreign affiliates

        All Foreign Subsidiaries and Foreign Affiliates listed for Tenant.

      b)   Other affiliates

        The Bayview Trust, an Illinois trust (100% of the beneficial interest
        held by Hewitt Holdings LLC

        Overlook Associates, an Illinois partnership (51% held by Hewitt
        Holdings LLC and 49% held by Tower Parkway Associates);

        Hewitt Associates LLC, an Illinois limited liability company (99% held
        by Hewitt Holdings LLC and I% held by Hewitt Services LLC);

        Hewitt Holdings LLC, an Illinois limited liability company (holder of
        999'0 of interest in Hewitt Associates LLC and Hewitt Properties I LLC)

        Hewitt Services LLC, an Illinois limited liability company (99% held by
        Hewitt Holdings LLC and l % held by Hewitt Associates LLC); and

        Hewitt Distributions LLC, an Illinois limited liability company (99%
        held by Hewitt Associates LLC and 1 % held by Hewitt Holdings LLC).

(v)   List of Managers/Senior Officers of Company

        Gerald I. Wilson                   Chief Executive/Manager
        Jerry R. Westwood                  Manager of Real Estate
        C. Lawrence Connolly, III          Secretary

(vi)  List of Managers/Senior Officers of Tenant

        Gerald I. Wilson      Chairman of Executive Committee of Hewitt Holdings
        Dale L. Gifford       Chief Executive Manager
        John M. Ryan          Chief Administrative Officer

<PAGE>

Dan DeCanniere     Chief Financial Officer
Thomas L. Schmitz  Practice Leader for the Total Benefit Administration Services

<PAGE>

                             NOTE PURCHASE AGREEMENT

                             HEWITT PROPERTIES I LLC
                          $75,000,000 Principal Amount
                           Secured Credit Tenant Notes
                                    Due 2018

                                  SCHEDULE 5.5

                   Financial Statements Provided to Purchasers

Audited consolidated balance sheets of Hewitt Associates LLC, an Illinois
limited liability company, and subsidiaries as of September 30, 1994 and 1993,
and the related consolidated statements of income and cash flows for the years
then ended.

Audited consolidated balance sheets of Hewitt Associates LLC, an Illinois
limited liability company, and subsidiaries as of September 30, 1996 and 1995,
and the related consolidated statements of income and cash flows for the years
then ended.

Hewitt Associates LLC (Unaudited) Consolidated Balance Sheet, Statement of
Operations, and Statement of Cash Flow for the periods ending June 30, 1997 and
1996.

<PAGE>

                             NOTE PURCHASE AGREEMENT

                             HEWITT PROPERTIES I LLC
                          $75,000,000 Principal Amount
                           Secured Credit Tenant Notes
                                    Due 2018

                                  SCHEDULE 5.8

                  Pending or Threatened Litigation Expected To
                         have a Material Adverse Effect

                                     -NONE-

<PAGE>

                             NOTE PURCHASE AGREEMENT

                             HEWITT PROPERTIES I LLC
                          $75,000,000 Principal Amount
                           Secured Credit Tenant Notes
                                    Due 2018

                                  SCHEDULE 5.11

              Impaired Licenses, Patents, Trademarks or Copyrights

                                      None

<PAGE>

                             NOTE PURCHASE AGREEMENT

                             HEWITT PROPERTIES I LLC
                          $75,000,000 Principal Amount
                           Secured Credit Tenant Notes
                                    Due 2018

                                  SCHEDULE 5.14

                            Intended Use of Proceeds

Proceeds will be used to refinance funds previously advanced for the acquisition
and initial development of the Property, to pay interest on the Notes during
construction and to provide funds for the construction, improvement and
completion of the Property.

<PAGE>

                             NOTE PURCHASE AGREEMENT

                             HEWITT PROPERTIES I LLC
                          $75,000,000 Principal Amount
                           Secured Credit Tenant Notes
                                    Due 2018

                                  SCHEDULE 5.15

              Existing Indebtedness of the Tenant and Subsidiaries
                            (See attached Exhibit 1)

                      Existing Indebtedness of the Company

                                     -NONE-

<PAGE>

                                                      Exhibit 1 to Schedule 5.15

                              HEWITT ASSOCIATES LLC
                        SCHEDULE OF EXISTING INDEBTEDNESS                 Page 1
                                    UNAUDITED

<TABLE>
<CAPTION>
                                                                                ORIGINAL        BALANCE
                                                                                BALANCE OR      AS OF
LENDER                                              LOAN DATE   TYPE            AVAILABLE       09/30/97
-----------------------------------------------------------------------------------------------------------
<S>                                                 <C>         <C>             <C>             <C>
LOANS:
-----
BANK OF AMERICA (SEE ATTACHED)                         9/30/92  MULTI-CUR       10,000,000        8,012,210

                                                                                                -----------
TOTAL REVOLVING CREDIT LOANS                                                                      8,012,210
                                                                                                -----------

HARRIS BANK/BANK OF AMERICA/FIRST CHICAGO              5/28/96  TERM            30,000,000       30,000,000

                                                                                                -----------
TOTAL UNSECURED BANK TERM LOANS                                                                  30,000,000
                                                                                                -----------

SENIOR NOTES                                           5/30/96  TERM            50,000,000       50,000,000
                                                                                                -----------

CAPITAL LEASES:
--------------
Hewlett Padcard                                       02/22/96  CAP LEASE        1,177,244           69,404
IBM 1                                                 04/04/95  CAP LEASE          545,359          129,971
GE Capital l                                          05/05/95  CAP LEASE        2,656,250          629,577
IBM 2                                                 09/18/95  CAP LEASE        2,262,033          780,689
IBM 3                                                 09/13/95  CAP LEASE          277,550           95,260
GE Capital 3                                          11/02/95  CAP LEASE        1,254,313          506,965
IBM Credit Corporation 4                              10/23195  CAP LEASE          108,885           38,958
General Electric MIPS License                         02/16/96  CAP LEASE          546,221          270,720
IBM 5                                                 04/11/96  CAP LEASE          362,950          204,644
IBM 6                                                  09/01/%  CAP LEASE        1,339,713          848,307
IBM 8                                                 12/01/96  CAP LEASE        2,778,663        1,976,475
IBM 7                                                 12/24/96  CAP LEASE          681,329          533,290
IBM 9                                                 12/01/97  CAP LEASE           90,738           65,055
IBM 10                                                12/01/97  CAP LEASE          542,290          388,765
IBM 11                                                04/01/97  CAP LEASE        3,496,063        2,847,938
IBM 12                                                07/01197  CAP LEASE          934,063          858,087
IBM 13                                                07/01197  CAP LEASE          957,548          879,661
IBM 14                                                07/01/97  CAP LEASE          362,950          333,428
Siemens Rolm-20P                                      09/30/97  CAP LEASE        1,034,596          953,262
Siemens Rolm - 20P                                    09/30/97  CAP LEASE          180,501          108,501
Siemens Rolm - 98 Building                            09/30/97  CAP LEASE        1,095,828        1,029,802
Siemens Rohr - Maitland                               09/30/97  CAP LEASE          759,734       694,775.31
                                                                                                -----------
TOTAL CAPITAL LEASES                                                                             14,315,536
                                                                                                -----------
TOTAL LOANS AND CAPITAL LEASES                                                                  102,327,746
                                                                                                ===========
SWAP TRANSACTIONS:
-----------------
BANK OF AMERICA (VARIOUS MATURITIES)                  06/02/97  INTEREST RATE LOCK                3,289,988
                                                                                                -----------
</TABLE>

<PAGE>

Bank of America Multi-Currency Credit Facility       Exhibit 1 to Schedule 5.15
As of                      30-Sep-97                                     Page 2

<TABLE>
<CAPTION>
                                     Local
                       Local        Currency                                 Interim                       Exchange     US Dollar
Borrower/Office      Currency        Amount     Borrow Date    Due Date     Int. Date    Interest Rate       Rate      Equivalent
---------------------------------------------------------------------------------------------------------------------------------
<S>                 <C>            <C>          <C>            <C>          <C>          <C>              <C>          <C>
United Kingdom      GBP             1,600,272      4/25/97     10/22/97       7/22/97       7.4375056       1.6185      2,590,040
United Kingdom      GBP               200,000      7/17/97      1/13/98      10/17/97       7.9700096       1.6185        323,700
United Kingdom      GBP               350,000      7/25/97      1/21/98      10/23/97       8.0000096       1.6185        566,475
United Kingdom      GBP               300,000      8/18/97      2/13/98      11/14/97       8.0859496       1.6185        485,550
United Kingdom      GBP               950,000      8/18/97      2/27/98      11/28/97       8.1640696       1.6185      1,537,575
France              FF              2,000,000      6/19/97     12/16/97       9/17/97       4.2500096       0.1691        338,200
France              FF              1,000,000      8/28/97      2/27/98      11/28/97       4.2812596       0.1691        169,100
France              FF              1,800,000      8/29/97      2/27/97      11/28/97       4.3125096       0.1691        304,380
Singapore           S$              1,000,000      6/20/97     12/17/97       9/18/97       5.1875096        0.654        654,000
Hong Kong           HK$             1,000,000      6/27/97     12/24/97       9/25/97       7.1875096       0.1292        129,200
Japan               JPY            30,000,000       5/9/97      11/5/97        8/9/97         1.37500%    0.008309        249,270
Japan               MY             50,000,000      6/19/97     12/16/97       9/17/97         1.43750%    0.008309        415,450
Japan               JPY            30,000,000      9/29/97      3/27/98      12/29/97       1.3750096     0.008309        249,270

                                                                                                                       ----------
                                                                                                          Total         8,012,210
</TABLE>

<PAGE>

                             NOTE PURCHASE AGREEMENT

                             HEWITT PROPERTIES I LLC
                          $75,000,000 Principal Amount
                           Secured Credit Tenant Notes
                                    Due 2018

                                  SCHEDULE 8.1

                              Required Prepayments

     The Company and the Purchasers agree that upon the earlier of (i) November
15, 1998, or (ii) the occurrence of the last of the Fundings contemplated by
this Agreement, the amortization schedule to the attached hereto shall be
calculated as follows: the commencement date shall be November 30, 1998, the
final maturity shall be October 30, 2018 and the interest rate shall be the
weighted average of the various rates then contained in the Notes.

     Notwithstanding the foregoing the Company and the Purchasers agree that in
the event that Final Project Completion has not occurred on or before July 31,
1999, the interest rate on the Notes shall automatically increase by one percent
(1%) per annum and the parties will recalculate the amortization schedule and
attach it hereto and to the Notes and the other relevant Operative Agreements.
At such time as the parties subsequently agree that Final Project Completion has
occurred, the interest rate on the Notes shall decrease by one percent (1%) per
annum commencing on the first day of the following month and the parties will
again recalculate the amortization schedule and attach it hereto and to the
Notes and the other relevant Operative Agreements.

<PAGE>

                                                                       EXHIBIT 1

                                 [FORM OF NOTE]

                             HEWITT PROPERTIES I LLC

                 SECURED CREDIT TENANT NOTE DUE OCTOBER 30, 2018

No. [_______]                                                             [Date]
$[_________]                                                     PPN[__________]

          FOR VALUE RECEIVED, the undersigned, HEWITT PROPERTIES I LLC (herein
called the "Company"); a limited liability company organized and existing under
the laws of the State of Illinois, hereby promises to pay to _____________, or
registered assigns, the principal sum of _________ DOLLARS -($_________) on
October 30, 2018, with interest only on the unpaid balance thereof at the rate
of _____% per annum from the date hereof, payable on the thirtieth day of the
month commencing, __________, 199___, and on the thirtieth day of each month
thereafter through and until October 30, 1998 and thereafter in installments of
interest and principal on the thirtieth day of each month as set forth in
Schedule 8.1 to the Note Purchase Agreement (as defined below) until the
principal hereof shall have become due and payable, and to the extent permitted
by law on any overdue payment (including any overdue prepayment) of principal,
any overdue payment of interest and any overdue payment of any Make-Whole Amount
(as defined in the . Note Purchase Agreement), payable as aforesaid (or, at the
option of the registered holder hereof, on demand), at a rate per annum from
time to time equal to the greater of (i) _______% or (ii) 2% over the rate of
interest publicly announced by Harris Trust and Savings Bank from time to time
in Chicago, Illinois as its "base" or "prime" rate.

          Payments of principal of, interest on and any Make-Whole Amount with
respect to this Note are to be made in lawful money of the United States of
America in the manner and at such places as provided in the Note Purchase
Agreement referred to below.

          This Note is one of a series of Secured Credit Tenant Notes (herein
called the "Notes") issued pursuant to the Note Purchase Agreement, dated as of
October 1, 1997 (as from time to time amended, the "Note Purchase Agreement"),
between the Company and the respective Purchasers named therein and is entitled
to the benefits thereof. Reference is made to the Note Purchase Agreement for a
statement of such benefits and a description of certain collateral securing the
Notes. Each holder of this Note will be deemed, by its acceptance hereof, (i) to
have agreed to the confidentiality provisions set forth in Section 20 of the
Note Purchase Agreement and (ii) to have made the representation set forth in
Section 6.1 of the Note Purchase Agreement. This Note is secured by and entitled
to the benefits of the Operative Agreements (as defined in the Note Purchase
Agreement).

          This Note is a registered Note and, as provided in the Note Purchase
Agreement, upon surrender of this Note for registration of transfer, duly
endorsed, or

                                        1
                                    Exhibit 1

<PAGE>

accompanied by a written instrument of transfer duly executed, by the registered
holder hereof or such holder's attorney duly authorized in writing, a new Note
for a like principal amount will be issued to, and registered in the name of,
the transferee. Prior to due presentment for registration of transfer, the
Company may treat the person in whose name this Note is registered as the owner
hereof for the purpose of receiving payment and for all other purposes, and the
Company will not be affected by any notice to the contrary.

          The Company will make required prepayments of principal on the dates
and in the amounts specified in the Note Purchase Agreement. This Note is also
subject to optional prepayment, in whole or from time to time in part, at the
times and on the terms specified in the Note Purchase Agreement, but not
otherwise.

          If an Event of Default, as defined in the Note Purchase Agreement,
occurs and is continuing, the principal of this Note may be declared or
otherwise become due and payable in the manner, at the price (including any
applicable Make-Whole Amount) and with the effect provided in the Note Purchase
Agreement.

          This Note shall be construed and enforced in accordance with and the
rights of the parties shall be governed by the laws of the State of Illinois
excluding choice-of-law principles of the law of such State that would require
the application of the laws of a jurisdiction other than such State. -

                                                 HEWITT PROPERTIES I LLC

                                                 By:____________________________
                                                    Gerald I. Wilson, Manager

                                        2
                                   Exhibit 1

<PAGE>

                                  Schedule 8.1

                              Amortization Schedule

                                        3
                                   Exhibit 1

<PAGE>

                                                                     Exhibit 4.4

                                 LEGAL OPINIONS

     A. The opinion of Gardner, Carton & Douglas, special counsel for the
Purchasers, shall be to the effect that:

     1. Each of the Tenant and the Company is a limited liability company
organized and validly existing in good standing under the laws of the State of
Illinois, with all requisite limited liability company power and authority
referred to in the Agreement, to enter into and perform the Agreement and the
Operative Agreements to which it is a parry, and in the case of the Company, to
issue and sell the Notes.

     2. The Guarantor is a limited liability company organized and validly
existing in good standing under the laws of Illinois, with all requisite
corporate power and authority referred to in the Guaranty, to enter into and
perform the Guaranty. The Guaranty has been duly authorized by proper action on
the part of the Guarantor, has been duly executed and delivered by an authorized
officer of the Guarantor and constitutes the legal, valid and binding agreement
of the Guarantor, enforceable in accordance with its terms, except to the extent
that enforcement thereof may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws of general application relating to or
affecting the enforcement of the rights of creditors or by equitable principles,
regardless of whether enforcement is sought in a proceeding in equity or at law.

     3. Each of the Agreement and each Operative Agreement to which the Company
or the Tenant are party have been duly authorized by proper action on the part
of the Company or the Tenant, as applicable, have been duly executed and
delivered by an authorized officer of the Company or the Tenant, as applicable,
and constitutes the legal, valid and binding agreement of the Company,
enforceable in accordance with its terms, except to the extent that enforcement
thereof may be limited by applicable bankruptcy, insolvency, reorganization,
moratorium or similar laws of general application relating to or affecting the
enforcement of the rights of creditors or by equitable principles, regardless of
whether enforcement is sought in a proceeding in equity or at law.

     4. The Notes have been duly authorized by proper corporate action on the
part of the Company, have been duly executed and delivered by an authorized
officer of the Company and constitute the legal, valid and binding obligations
of the Company, enforceable in accordance with their terms, except to the extent
that enforcement of the Notes may be limited by applicable bankruptcy,
insolvency, reorganization, moratorium or similar laws of general application
relating to or affecting the enforcement of the rights of creditors or by
equitable principles, regardless of whether enforcement is sought in a
proceeding in equity or at law.

     5. Based upon the representations set forth in the Agreement, the offering,
sale and delivery of the Notes do not require the registration of the Notes
under the Securities Act of 1933, as amended, nor the qualification of an
indenture under the Trust Indenture Act of 1939, as amended.

     6. The issuance and sale of the Notes and compliance with the terms and
provisions of the Notes, the Agreement and the other Operative Agreements to
which it is party by

                                        4
                                    Exhibit 1

<PAGE>

the Company will not conflict with or result in any breach of any of the
provisions of the Operating Agreement.

     7. Compliance by the Tenant with the terms and provisions of the Operative
Agreements to which it is a party will not conflict with or result in any breach
of the provisions of the Tenant Operating Agreement.

The opinion of Gardner, Carton & Douglas also shall state that the opinion of C.
Lawrence Connolly III, Esq., counsel for the Company, the Tenant and Guarantor
delivered to you pursuant to the Agreement, is satisfactory in form and scope to
Gardner, Carton & Douglas, and, in their opinion, the Purchasers and it are
justified in relying thereon and shall cover such other matters relating to the
sale of the Notes as the Purchasers may reasonably request.

     B. The opinion of C. Lawrence Connolly III, Esq., counsel for the Company,
shall cover all matters specified in clauses 1 through 7 set forth above and
also shall be to the effect that:

     1. Each of the Company; the Tenant and the Guarantor has full power and
authority to conduct the activities in which it is now engaged and own its
property.

     2. The Guarantor and each Subsidiary of the Tenant is an entity duly
organized and validly existing in good standing under the laws of its
jurisdiction of organization, and each has all requisite power and authority to
carry on its business as now conducted and own its property.

     3. Each of the Company, the Tenant and its Subsidiaries and the Guarantor
is duly qualified or licensed and in good standing as a foreign limited
liability company or corporation authorized to do business in each jurisdiction
where the nature of the business transacted by it or the character of its
properties owned or leased makes such qualification or licensing necessary
except where failure to so qualify would not, individually or in the aggregate,
have a material adverse affect on its business, properties, or condition,
financial or otherwise.

     4. No authorization, approval or consent of any governmental or regulatory
body is necessary or required in connection with the lawful execution and
delivery by the Company of the Agreement or the Operative Agreements or the
lawful offering, issuance and sale of the Notes, and no designation, filing,
declaration, registration and/or qualification with any governmental authority
is required by the Company in connection with such offer, issuance and sale.

     5. The issuance and sale of the Notes by the Company and the execution,
delivery and performance by the Company, the Tenant or the Guarantor, as the
case may be, of the Agreement or the Operative Agreements will not conflict
with, or result in any breach or violation of any of the provisions of, or
constitute a default under, or result in the creation of any Lien on the
property of the Company, the Guarantor, the Tenant or any Subsidiary pursuant
to, (i) the provisions of the Operating Agreement, Articles of Organization or
other organic or charter document of any of them or any loan agreement under
which any of them are bound, or other agreement or instrument to which any of
them is a party or by which any of them or their property is bound or (ii) any
law (including usury laws) or

                                        5
                                    Exhibit 1

<PAGE>

regulation, order, writ, injunction or decree of any court or governmental
authority applicable to any of them.

     6. There are no actions, suits or proceedings pending or, to the best of
such counsel's knowledge after due inquiry, threatened against, or affecting the
Company, the Guarantor, the Tenant or its Subsidiaries, at law or in equity or
before or by any Federal, state, municipal or other governmental department,
commission, board, bureau, agency or instrumentality, domestic or foreign, which
are likely to result, either individually or in the aggregate, in any material
adverse change in the business, properties, operations or condition, financial
or otherwise, of the Company and its Subsidiaries taken as a whole.

     7. All of the issued and outstanding shares of capital stock of each
Subsidiary have been duly and validly issued, are fully paid and nonassessable
and, to the knowledge of such counsel, are owned by the Company free and clear
of any Lien.

     8. The issuance of the Notes and the use of the proceeds of the sale of the
Notes do not violate or conflict with Regulation G, T, U or X of the Board of
Governors of the Federal Reserve System (12 C.F.R., Chapter II).

     9. Neither the Company nor any Subsidiary is: (i) a "public utility
company" or a "holding company," or an "affiliate" or a "subsidiary company" of
a "holding company," or an "affiliate" of such a "subsidiary company," as such
terms are defined in the Public Utility Holding

Company Act of 1935, as amended, or (ii) a "public utility" as defined in the
Federal Power Act, as amended, or (iii) an "investment company" or an
"affiliated person" thereof or an "affiliated person" of any such "affiliated
person," as such terms are defined in the Investment Company Act of 1940, as
amended.

     The opinion of C. Lawrence Connolly III, Esq. shall cover such other
matters relating to the sale of the Notes as the Purchasers may reasonably
request. With respect to matters of fact on which such opinion is based, such
counsel shall be entitled to rely on appropriate certificates of public
officials and officers of the Company and with respect to matters governed by
the laws of any jurisdiction other than the United States of America and the
State of Illinois, such counsel may rely upon the opinions of counsel deemed
(and stated in their opinion to be deemed) by them to be competent and reliable.
The opinion of C. Lawrence Connolly III, Esq. shall provide that such opinion
may be relied upon by the Purchasers and its counsel and (i) in connection with
enforcement of obligations of the Company under the Notes and the Note
Agreement, (ii) in response to a subpoena or other legal process, (iii) as
otherwise required by applicable law or regulation or (iv) in connection with
the sale or transfer of any of the Notes to a subsequent purchaser or
transferee.

                                        6
                                    Exhibit 1

<PAGE>

                                                                  EXECUTION COPY

                             HEWITT PROPERTIES I LLC

                          FIRST AMENDMENT AND WAIVER TO
                             NOTE PURCHASE AGREEMENT

                                   $75,000,000
                           Secured Credit Tenant Notes
                              due October 30, 2018

                                                        Dated as of May 31, 2002

To the Holders of the Secured Credit
  Tenant Notes of Hewitt Properties I LLC
  Named in the Attached Schedule I

Ladies and Gentlemen:

                  Reference is made to the Note Purchase Agreement dated as of
October 1, 1997 among Hewitt Properties I LLC, a limited liability company
organized under the laws of Illinois (the "Company"), Hewitt Associates LLC, a
limited liability company organized under the laws of Illinois (the "Tenant"),
and each of the Purchasers named in Schedule A thereto (the "Note Agreement"),
pursuant to which the Company issued $75,000,000 aggregate principal amount of
its Secured Credit Tenant Notes due October 30, 2018 (the "Notes"). You are
referred to herein individually as a "Holder" and collectively as the "Holders."
Capitalized terms used and not otherwise defined in this Amendment and Waiver
shall have the meanings ascribed to them in the Note Agreement.

                  All of the ownership interests of the Tenant are owned by
Hewitt Holdings LLC (the "Parent"). The Parent has formed Hewitt Associates,
Inc., a Delaware corporation ("Associates") and owns all of the issued and
outstanding common stock of Associates. The Parent has caused Associates to file
a registration statement for the underwritten public offering of common stock of
Associates (the "IPO"). In preparation for the IPO, the Parent proposes among
other things to (i) cause the Tenant to distribute (the "Distribution") cash in
the amount of $55,000,000 and accounts receivables in the face amount of
$152,500,000 to the Parent, which the Parent will use to fund a partial
distribution of undistributed accumulated earnings to the owners of the Parent
and (ii) transfer to Associates all of the ownership interests of the Tenant to
Associates so that the Tenant will become a wholly owned subsidiary of
Associates. The Distribution will cause the Tenant to be in violation of Section
10.3 of the Note Purchase Agreement.

<PAGE>

                  The Company and the Tenant have requested fine waiver of
compliance with Section 10.3 and the modification of certain financial covenants
and other provisions of the Note Agreement. The Holders are willing to grant an
amendment and waiver on she terms and conditions hereinafter set forth.

                  In consideration of the premises and for good and valuable
consideration, the receipt and sufficiency of which are acknowledged, the
Company, the Tenant end the Holders agree as follows:

1.       AMENDMENTS TO NOTE AGREEMENT

         1.1      Amendment of Section 10.4. Section 10.4(c) of the Note
Agreement is amended to read in its entirety as follows:

                  "(c)     Funded Indebtedness provided that the Tenant will not
         permit at any time the ratio of Consolidated Funded Indebtedness to
         Consolidated Cash Flow for the most recently completed four fiscal
         quarters to exceed 2.25 to 1.0."

         1.2.     Amendment of Section 10.5. The text of Section 10.5 of the
Note Agreement is deleted in its entirety and replaced by the word "Reserved."

         1.3.     Amendment of Section 10.7. Section 10.7(j) of the Note
Agreement is amended to read in its entirety as follows:

                  "(j)     Liens which secure Indebtedness of Tenant or any
         Restricted Subsidiary of Tenant and which are not permitted by (a)
         through (i) above; provided that, after giving effect to the incurrence
         of such Indebtedness and the application of proceeds thereof, (A) the
         requirements of Section 10.4(c) shall have been met and (B)
         Indebtedness incurred by Tenant or any Restricted Subsidiary of Tenant
         under this Section 10.7(j), when added to outstanding Indebtedness of
         Restricted Subsidiaries of Tenant permitted by Section 10.6(b) will not
         exceed 25% of Consolidated Net Capital determined as of the end of the
         Tenant's most recently ended fiscal quarter."

         1.4.     Amendment of Section 11. Section 11 of the Note Agreement is
amended to include the following clause (1):

                  "(1)     Hewitt Holdings LLC defaults in the performance of or
         compliance with any term contained in the Parent Guaranty dated as of
         May 31, 2002 in favor of the holders of the Notes or such Parent
         Guaranty ceases to be in full force and effect (except as set forth
         therein with respect to the release the -eof), or is declared to be
         null and void in whole or in part by a court or other governmental or
         regulatory authority having jurisdiction or the validity or
         enforceability thereof shall be contested by any of the Company, the
         Tenant or Hewitt Holdings LLC or any of them renounces any of the same
         or denies that it has any or further liability thereunder."

                                       2

<PAGE>

         1.5.     Amendment of Schedule B.

                  1.5.     1. The definitions of "Current Indebtedness" and
         "Total Capitalization" are deleted from Schedule B.

                  1.5.2.   The following terms are added to Schedule B:

                           "Consolidated Cash Flow" means, for any period, the
         sum of Consolidated Net Income for such period, plus, to the extent
         deducted in determining such Consolidated Net Income, (i) Consolidated
         Interest Expense, (ii) federal, state, local and foreign income, value
         added and similar taxes, (iii) depreciation and amortization expense,
         (iv) impairment charges relating to goodwill, (v) non-cash charges and
         (vi) foreign currency translation adjustments.

                           "Consolidated Interest Expense" means, for any
         period, the consolidated interest expense of the Tenant and its
         Restricted Subsidiaries for such period determined in accordance with
         GAAP (including imputed interest on Capital Lease obligations and all
         debt discount and expense amortized in such period).

                  1.5.3.   The definition of "Consolidated Net Capital" is
         amended to read in its entirety as follows:

                           "Consolidated Net Capital" shall mean the
         consolidated members' capital of the Tenant, as determined in
         accordance: with GAAP, less Restricted Investments in excess of 20% of
         consolidated members' capital of the Tenant; provided, however, that
         "Consolidated Net Capital" shall not include any capital stock of
         Hewitt Associates, Inc. or Hewitt Holdings LLC:.

2.       WAIVER

         The Holders waive compliance by the Tenant with the provisions of
Section 10.3 of the Note Agreement solely as a result of the Distribution until
the earlier to occur of (i) the occurrence of a Default or Event of Default
under the Note Agreement and (ii) delivery by the Tenant of financial statements
pursuant to Section 7.1(x) or (b) of the Note Agreement, accompanied by
certificate required by Section 7.2 of the Note Agreement, demonstrating that
the Tenant is then in compliance with Section 10.3, without regard to such
waiver and that there exists no Default or Event of Default. During the period
the foregoing waiver is in effect, the Tenant will not at any time permit
Consolidated Net Capital to be less than the sum of (a) $25,000,000 plus (b) the
cumulative sum of 10% (without deduction for any loss) of its Consolidated Net
Income for the three-month period ending September 30, 2002 and for each fiscal
year thereafter. This waiver is limited to its terms and shall not constitute a
waiver of any other term, condition, representation or covenant under the Note
Agreement or any of the other agreements, documents or instruments executed and
delivered in connection therewith.

                                        3

<PAGE>

3.       REAFFIRMATION; REPRESENTATIONS AND WARRANTIES

         3.1.     Reaffirmation of Note Agreement. Each of the Company and the
Tenant reaffirms its agreement to comply with each of the covenants, agreements
and other provisions of the Note Agreement and the Notes applicable to it,
including the additions and amendments of such provisions effected by this
Amendment and Waiver.

         3.2.     Note Agreement. Each of the Company and the Tenant severally
represent and warrant that the representations and warranties contained in the
Note Agreement are true and correct as of the date hereof, except (a) to the
extent that any of such representations and warranties specifically relate to an
earlier date, (b) for such changes, facts, transactions and occurrences that are
contemplated hereby or have arisen since October 30, 1997 in the ordinary course
of business, (c) for such other matters as have been previously disclosed in
writing by each of the Company and the Tenant (including in its financial
statements and notes thereto) to the Holders and (d) for other changes that
could not reasonably be expected to have a Material Adverse Effect.

         3.3.     No Default or Event of Default. Each of the Company and the
Tenant severally represent and warrant that no Default or Event of Default has
occurred and is continuing or will occur as a result of the execution of this
Amendment and Waiver.

         3.4.     Authorization. The execution, delivery and performance:, by
each of the Company and the Tenant of this Amendment and Waiver have been duly
authorized by all necessary action on the part of each -of the Company and the
Tenant as required by heir respective Operating Agreement and Articles of
Organization and, except as provided h -.rein, do not require any registration
with, consent or approval of, notice to or action by, any Person (including any
Governmental Authority) in order to be effective and enforceable. The Note
Agreement and this Amendment and Waiver each constitute the legal, valid and
binding obligations of each of the Company and the Tenant, enforceable in
accordance with their respective terms, except as such enforceability may be
limited by (i) applicable bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium or other similar laws affecting the enforcement of
creditors' rights generally and (ii) general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law).

4.       CONSENT TO AMENDMENT OF LEASE

         The Holders hereby consent to the amendment of the Lease to contemplate
amendments to the Note Agreement, which Lease amendment shall be on terms
reasonably satisfactory to the Holders.

5.       EFFECTIVE DATE

         This Amendment and Waiver shall become effective as of the date set
forth above upon the satisfaction of the following conditions:

                                        4

<PAGE>

         5.1.     Consent of Holders to Amendment and Waiver. Execution by the
holders of at least 51% of the aggregate principal amount of the Notes
outstanding and receipt by the Holders of a counterpart of this Amendment and
Waiver duly executed by the Company and the Tenant.

         5.2.     Parent Guaranty. Parent shall have executed and delivered a
Parent Guaranty substantially in the form of the attached Exhibit A in favor of
the Holders.

         5.3.     Amendment Fee. Each Holder, whether or not such Holder
executes this Amendment and Waiver, shall have received payment of an amendment
fee equal to 0.20% of the principal amount of the outstanding Notes held by such
Holder.

         5.4.     Amendment to Lease. The Company and the Tenant shall have
executed an amendment to the Lease.

         5.5.     Expenses. The Company or the Tenant shall have paid all fees
and expenses of special counsel to the Holders in connection with this Amendment
and Waiver.

6.       MISCELLANEOUS

         6.1.     Ratification. Except as expressly amended, modified, deleted
or added to hereby, all of the terms and conditions of the Note Agreement, the
Notes and all other documents relating to the Note Agreement remain in full
force and effect, and the parties hereto expressly reaffirm and ratify their
respective obligations thereunder.

         6.2.     Reference to and Effect on the Note Agreement. Upon. the final
effectiveness of this Amendment and Waiver, each reference in the Note
Agreement: and in other documents describing or referencing the Note Agreement
to the "Agreement," "Note Agreement," "hereunder," "hereof," "herein," or words
of like import referring to the Note Agreement, shall mean and be a reference to
the Note Agreement, as amended hereby.

         6.3.     Binding Effect. This Amendment and Waiver shall be binding
upon and inure to the benefit of the respective successors and assigns of the
parties hereto.

         6.4.     Governing Law. This Amendment and Waiver shall be governed by
and construed in accordance with Illinois law.

         6.5.     Counterparts. This Amendment and Waiver may be executed in any
number of counterparts, each executed counterpart constituting an original, but
altogether only one instrument.

                                        5

<PAGE>

                  IN WITNESS WHEREOF, the Company, the Tenant and the Molders
have caused this first Amendment and Waiver to the Note Purchase Agreement to be
executed and delivered by their respective officer or officers thereunto duly
authorized.

                                       HEWITT PROPERTIES I LLC

                                       By: /s/ C. L. Connolly III
                                           -------------------------------------
                                           Name:  C. Lawrence Connolly, III
                                           Title: Authorized Representative

                                       HEWITT ASSOCIATES LLC

                                       By: /s/ C. L. Connolly III
                                           -------------------------------------
                                           Name:  C. Lawrence Connolly, III
                                           Title: Authorized Representative

                                       S-1

<PAGE>

The foregoing is hereby agreed to
as of the date thereof

BY: PPM AMERICA, INC., as attorney in fact,
on behalf of JACKSON NATIONAL LIFE
INSURANCE COMPANY

By: /s/ Chris Raub
    -----------------------------------
Name: Chris Raub
    -----------------------------------
Title: Senior Managing Director
       --------------------------------

                                       S-2

<PAGE>

CONNECTICUT GENERAL LIFE INSURANCE
COMPANY
By: CIGNA INVESTMENTS, INC.

By: /s/ Debra J. Height
    -----------------------------------
Name: Debra J. Height
      ---------------------------------
Title: Managing Director
       --------------------------------

                                       S-3

<PAGE>

TRANSAMERICA OCCIDENTAL LIFE
INSURANCE COMPANY

By: /s/ Mark E. Dunn
    -----------------------------------
Name: Mark E. Dunn
      ---------------------------------
Title: Vice President
       --------------------------------

                                       S-4

<PAGE>

MINNESOTA LIFE INSURANCE COMPANY
By: Advantus Capital Management, Inc.

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

                                       S-5

<PAGE>

THE CANADA LIFE ASSURANCE
COMPANY, as beneficial owner

By: /s/ C. Paul English
    -----------------------------------
Name: C. Paul English
      ---------------------------------
Title: Associate Treasurer
       --------------------------------

CANADA LIFE INSURANCE COMPANY OF
AMERICA, as beneficial owner

By: /s/ C. Paul English
    -----------------------------------
Name: C. Paul English
      ---------------------------------
Title: Associate Treasurer
       --------------------------------

                                       S-6

<PAGE>

LINCOLN LIFE & ANNUITY COMPANY OF NEW YORK
By:      Delaware Lincoln Investment Advisers, a
         Series of Delaware Management Business
         Trust, Attorney-In Fact

         By: /s/ Carl E. Mabry
             -----------------------------------
         Name:  Carl E. Mabry
                --------------------------------
         Title: Vice President
                --------------------------------

                                       S-7

<PAGE>

                                                                       EXHIBIT A

                                 PARENT GUARANTY

   THIS GUARANTY (this "Guaranty") dated as of May 31, 2002 is made by HEWITT
HOLDINGS LLC, a limited liability company organized under the laws of Illinois
(the "Guarantor"), in favor of the holders from time to time of the Notes
hereinafter referred to, including each holder named in the Note Purchase
Agreement, as amended, hereinafter referred to, and their respective successors
and assigns (collectively, the "Holders" and each individually, a "Holder").

                                   WITNESSETH:

     WHEREAS, HEWITT PROPERTIES I LLC, a limited liability company organized
under the laws of Illinois (the "Company"), HEWITT ASSOCIATES LLC, a limited
liability company organized under the laws of Illinois (the "Tenant"), and the
initial Holders entered into a Note Purchase Agreement dated as of October 1,
1997 (the Note Purchase Agreement as amended by the First Amendment and Waiver
(the "First Amendment and Waiver") dated as of May 31, 2002, and as it may
hereafter be amended, supplemented, restated or otherwise modified from time to
time in accordance with its terms and in effect, the "Note Purchase Agreement");

     WHEREAS, pursuant to the Note Purchase Agreement the Company issued and
sold $75,000,000 aggregate principal amount of Notes (as defined in the Note
Purchase Agreement), which are now held by the Holders;

     WHEREAS, the Company is a wholly owned Subsidiary of the Guarantor and the
Guarantor has agreed to guaranty the obligations related to the Notes in
connection with the execution by the Holders of the First Amendment and Waiver,
from which the Guarantor will derive substantial benefits;

     WHEREAS, it is a condition precedent to the effectiveness of the First
Amendment and Waiver that the Guarantor shall have executed and delivered this
Guaranty to the Holders; and

     WHEREAS, the Guarantor desires to execute and deliver this Guaranty to
satisfy the conditions described in the preceding paragraph;

     NOW, THEREFORE, in consideration of the premises and other benefits to the
Guarantor, and of the execution of the First Amendment and Waiver by the
Holders, and for other good and valuable consideration, the receipt and
sufficiency of which are acknowledged, the Guarantor makes this Guaranty as
follows:

     SECTION 1. Definitions. Any capitalized terms not otherwise herein defined
shall have the meanings ascribed to them in the Note Purchase Agreement or in
the First Amendment and Waiver.

     SECTION 2. Guaranty. The Guarantor unconditionally and irrevocably
guarantees to the Holders the due, prompt and complete payment by the Company of
the principal of, Make

                                    Exhibit A

<PAGE>

Whole Amount, if any, and interest on, and each other amount due under, the
Notes or the Note Purchase Agreement, when and as the same shall become due and
payable (whether at stated maturity or by required or optional prepayment or by
declaration or otherwise) in accordance with the terms of the Notes and the Note
Purchase Agreement (the Notes and the Note Purchase Agreement being sometimes
hereinafter collectively referred to as the "Note Documents" and the amounts
payable by the Company under the Note Documents, and all other monetary
obligations of the Company thereunder, being sometimes collectively hereinafter
referred to as the "Obligations"). This Guaranty is a guaranty of payment and
not just of collectibility and is in no way conditioned or contingent upon any
attempt to collect from the Company or upon any other event, contingency or
circumstance whatsoever. If for any reason whatsoever the Company shall fail or
be unable duly, punctually and fully to pay such amounts as and when the same
shall become due and payable, the Guarantor, without demand, presentment,
protest or notice of any kind, will forthwith pay or cause to be paid such
amounts to the Holders under the terms of such Note Documents, in lawful money
of the United States, at the place specified in the Note Purchase Agreement, or
perform or comply with the same or cause the same to be performed or complied
with, together with interest (to the extent provided for under such Note
Documents) on any amount due and owing from the Company. The Guarantor, promptly
after demand, will pay to the Holders the reasonable costs and expenses of
collecting such amounts or otherwise enforcing this Guaranty, including, without
limitation, the reasonable fees and expenses of counsel.

     SECTION 3. Guarantor's Obligations Unconditional. The obligations of the
Guarantor under this Guaranty shall be primary, absolute and unconditional
obligations of the Guarantor, shall not be subject to any counterclaim, set-off,
deduction, diminution, abatement, recoupment, suspension, deferment, reduction
or defense based upon any claim the Guarantor or any other person may have
against the Company or any other person, and to the full extent permitted by
applicable law shall remain in full force and effect without regard to, and
shall not be released, discharged or in any way affected by, any circumstance or
condition whatsoever (whether or not the Guarantor or the Company shall have any
knowledge or notice thereof), including:

          (a)  any termination, amendment or modification of or deletion from or
     addition or supplement to or other change in any of the Note Documents or
     any other instrument or agreement applicable to any of the parties to any
     of the Note Documents;

          (b)  any furnishing or acceptance of any security, or any release of
     any security, for the Obligations, or the failure of any security or the
     failure of any person to perfect any interest in any collateral;

          (c)  any failure, omission or delay on the part of the Company or the
     Tenant to conform or comply with any term of any of the Note Documents or
     any other instrument or agreement referred to in paragraph (a) above,
     including, without limitation, failure to give notice to the Guarantor of
     the occurrence of a "Default" or an "Event of Default" under any Note
     Document;

          (d)  any waiver of the payment, performance or observance of any of
     the obligations, conditions, covenants or agreements contained in any Note
     Document, or any

                                       -2-

<PAGE>

     other waiver, consent, extension, indulgence, compromise, settlement,
     release or other action or inaction under or in respect of any of the Note
     Documents or any other instrument or agreement referred to in paragraph (a)
     above or any obligation or liability of the Company or the Tenant, or any
     exercise or non-exercise of any right, remedy, power or privilege under or
     in respect of any such instrument or agreement or any such obligation or
     liability;

          (e) any failure, omission or delay on the part of any of the Holders
     to enforce, assert or exercise any right, power or remedy conferred on such
     Holder in this Guaranty, or any such failure, omission or delay on the part
     of such Holder in connection with any Note Document, or any other action on
     the part of such Holder;

          (f) any voluntary or involuntary bankruptcy, insolvency,
     reorganization., arrangement, readjustment, assignment for the benefit of
     creditors, composition, receivership, conservatorship, custodianship,
     liquidation, marshaling of assets and liabilities or similar proceedings
     with respect to the Company, the Tenant, the Guarantor or to any other
     person or any of their respective properties or creditors, or any action
     taken by any trustee or receiver or by any court in any such proceeding;

          (g) any discharge, termination, cancellation, frustration,
     irregularity, invalidity or unenforceability, in whole or in part, of any
     of the Note Documents or any other agreement or instrument referred to in
     paragraph (a) above or any term hereof;

          (h) any merger or consolidation of the Company, the Tenant or the
     Guarantor into or with any other corporation, or any sale, lease or
     transfer of any of the assets of the Company or the Guarantor to any other
     person;

          (i) any change in the ownership of any shares of capital stock of the
     Company or the Tenant or any change in the corporate relationships between
     the Company, the Tenant and the Guarantor, or any termination of any such
     relationship;

          (j) any release or discharge, by operation of law, of the Guarantor
     from the performance or observance of any obligation, covenant or agreement
     contained in this Guaranty; or

          (k) any other occurrence, circumstance, happening or event whatsoever,
     whether similar or dissimilar to the foregoing, whether foreseen or
     unforeseen, and any other circumstance which might otherwise constitute a
     legal or equitable defense or discharge of the liabilities of a guarantor
     or surety or which might otherwise limit recourse against the Guarantor.

     SECTION 4. Full Recourse Obligations. The obligations of the Guarantor set
forth herein constitute the full recourse obligations of the Guarantor
enforceable against it to the full extent of all its assets and properties.

     SECTION 5. Waiver. The Guarantor unconditionally waives, to the extent
permitted by applicable law, (a) notice of any of the matters referred to in
Section 3, (b) notice to the Guarantor of the incurrence of any of the
Obligations, notice to the Guarantor or the Company of

                                      -3-

<PAGE>

any breach or default by the Company with respect to any of the Obligations or
any other notice that may be required, by statute, rule of law or otherwise, to
preserve any rights of the Holders against the Guarantor, (c) presentment to or
demand of payment from the Company or the Guarantor with respect to any amount
due under any Note Document or protest for nonpayment or dishonor, (d) any right
to the enforcement, assertion or exercise by any of the Holders of any right,
power, privilege or remedy conferred in the Note Purchase Agreement or any other
Note Document or otherwise, (e) any requirement of diligence on the part of any
of the Holders, (f) any requirement to exhaust any remedies or to mitigate the
damages resulting from any default under any Note Document, (g) any notice of
any sale, transfer or other disposition by any of the Holders of any right,
title to or interest in the Note Purchase Agreement or in any other Note
Document and (h) any other circumstance whatsoever which might otherwise
constitute a legal or equitable discharge, release or defense of a guarantor or
surety or which might otherwise limit recourse against the Guarantor.

     SECTION 6. Subrogation, Contribution, Reimbursement or Indemnity. Until one
year and one day after all Obligations have been indefeasibly paid in full, the
Guarantor agrees not to take any action pursuant to any rights which may have
arisen in connection with this Guaranty to be subrogated to any of the rights
(whether contractual, under the United States Bankruptcy Code, as amended,
including section 509 thereof, under common law or otherwise) of any of the
Holders against the Company or against any collateral security or guaranty or
right of offset held by the Holders for the payment of the Obligations. Until
one year and one day after all Obligations have been indefeasibly paid in full,
the Guarantor agrees not to take any action pursuant to any contractual, common
law, statutory or other rights of reimbursement, contribution, exoneration or
indemnity (or any similar right) from or against the Company which may have
arisen in connection with this Guaranty. So long as the Obligations remain, if
any amount shall be paid by or on behalf of the Company to the Guarantor on
account of any of the rights waived in this paragraph, such amount shall be held
by the Guarantor in trust, segregated from other funds of the Guarantor, and
shall, forthwith upon receipt by the Guarantor, be turned over to the Holders
(duly endorsed by the Guarantor to the Holders, if required), to be applied
against the Obligations, whether matured or unmatured, in such order as the
Holders may determine. The provisions of this paragraph shall survive the term
of this Guaranty and the payment in full of the Obligations.

     SECTION 7. Effect of Bankruptcy Proceedings, etc. This Guaranty shall
continue to be effective or be automatically reinstated, as the case may be, if,
at any time prior to the termination of this Guaranty pursuant to Section 9(ii),
payment, in whole or in part, of any of the sums due to any of the Holders
pursuant to the terms of the Note Purchase Agreement or any other Note Document
is rescinded or must otherwise be restored or returned by the Holder upon the
insolvency, bankruptcy, dissolution, liquidation or reorganization of the
Company or any other person, or upon or as a result of the appointment of a
custodian, receiver, trustee or other officer with similar powers with respect
to the Company or other person or any substantial part of its property, or
otherwise, all as though such payment had not been made. If an event permitting
the acceleration of the maturity of the principal amount of the Notes shall at
any time have occurred and be continuing, and such acceleration shall at such
time be prevented by reason of the pendency against the Company or any other
person of a case or proceeding under a bankruptcy or insolvency law, the
Guarantor agrees that, for purposes of this Guaranty and its obligations
hereunder, the maturity of the principal amount of the Notes and all other
Obligations

                                       -4-

<PAGE>

shall be deemed to have been accelerated with the same effect as if any Holder
had accelerated the same in accordance with the terms of the Note Purchase
Agreement or other applicable Note Document, and the Guarantor shall forthwith
pay such principal amount, Make-Whole Amount, if any, and interest thereon and
any other amounts guaranteed hereunder without further notice or demand.

     SECTION 8. Restrictions on Transfer of Certain Assets. So long as this
Guaranty remains in effect:

          (a) The Guarantor will own at least 85% of the capital stock of Hewitt
     Associates Inc., a Delaware corporation ("Associates"), and will own or
     cause Associates to own 100% of the ownership interests in the Tenant.

          (b) The Guarantor will not pledge or encumber any capital stock of
     Associates and will not, and will not permit Associates to, pledge or
     encumber any ownership interests in the Tenant.

          (c) Except for liens or encumbrances permitted by the Security
     Documents, the Guarantor will not, and will not permit any of its
     subsidiaries to, encumber, sell, lease, transfer or otherwise dispose of
     any of the real property owned by it, except that it may dispose of the
     office buildings located in Newport Beach, California, and Rowayton,
     Connecticut.

          (d) The Guarantor will own 100% of the ownership interests in each of
     its subsidiaries that owns any real property.

          (e) The Guarantor will not, and will not permit Associates to,
     distribute to members of the Guarantor more than 50% of the proceeds of the
     Distribution.

     SECTION 9.  Term of Agreement. This Guaranty and all guaranties, covenants
and agreements of the Guarantor contained herein shall continue in full force
and effect and shall not be discharged until the occurrence of one of the
following events: (i) all of the Obligations shall be paid and performed in full
and all of the agreements of the Guarantor hereunder shall be duly paid and
performed in full or (ii) the Tenant demonstrates compliance with Section 10.3
of the Note Purchase Agreement in the manner set forth in Section 2 of the First
Amendment and Waiver.

     SECTION 10. Representations and Warranties. The Guarantor represents and
warrants to each Holder that:

          (a) the Guarantor is duly organized, validly existing and in good
     standing under the laws of its jurisdiction of organization and has the
     requisite power and authority to own and operate its property, to lease the
     property it operates as lessee and to conduct the business in which it is
     currently engaged;

          (b) the Guarantor owns all of the ownership interests in the Tenant
     and all of the capital stock of Associates;

                                       -5-

<PAGE>

          (c) the Guarantor has the requisite power and authority and the legal
     right to execute and deliver, and to perform its obligations under, this
     Guaranty, and has taken all necessary action to authorize its execution,
     delivery and performance of this Guaranty;

          (d) this Guaranty constitutes a legal, valid and binding obligation of
     the Guarantor enforceable in accordance with its terms, except as
     enforceability may be limited by bankruptcy, insolvency, reorganization,
     moratorium or similar laws affecting the enforcement of creditors' rights
     generally and by general equitable principles (regardless of whether such
     enforceability is considered in a proceeding in equity or at law);

          (e) the execution, delivery and performance of this Guaranty will not
     (i) contravene, result in any breach of, or constitute a default under, or
     result in the creation of any Lien in respect of any property of the
     Guarantor under any indenture, mortgage, deed of trust, loan, credit
     agreement, corporate charter or by-laws, or any other agreement evidencing
     Debt, (ii) contravene, result in any breach of, or constitute a default
     under, or result in the creation of any Lien in respect of any property of
     the Guarantor under, any other agreement or instrument to which the
     Guarantor is bound or by which the Guarantor or any of its properties may
     be bound or affected, except as could not reasonably be expected to have a
     Material Adverse Effect, (iii) conflict with or result in a breach of any
     of the terms, conditions or provisions of any order, judgment, decree, or
     ruling of any court, arbitrator or Governmental Authority applicable to the
     Guarantor, except as could not reasonably be expected to have a Material
     Adverse Effect, or (iv) violate any provision of any statute or other rule
     or regulation of any Governmental Authority applicable to the Guarantor,
     except as could not reasonably be expected to have a Material Adverse
     Effect.

     SECTION 11. Notices. All notices under the terms and provisions hereof
shall be in writing, and shall be delivered or sent by telex or telecopy or
mailed by first-class mail, postage prepaid, addressed to the Guarantor at 100
Half Day Road, Lincolnshire, IL 60069-3342, Attention: General Counsel, or to
any Holder at the address set forth in the Note Purchase Agreement, or in each
case at such other address as the Guarantor or any Holder shall from time to
time designate in writing to the other parties. Any notice so addressed shall be
deemed to be given when actually received.

     SECTION 12. Survival. All warranties, representations and covenants made by
the Guarantor herein or in any certificate or other instrument delivered by it
or on its behalf hereunder shall be considered to have been relied upon by the
Holders and shall survive the execution and delivery of this Guaranty,
regardless of any investigation made by any of the Holders. All statements in
any such certificate or other instrument shall constitute warranties and
representations by such Guarantor hereunder.

     SECTION 13. Submission to Jurisdiction. The Guarantor irrevocably submits
to the jurisdiction of the courts of the State of Illinois and of the courts of
the United States of America having jurisdiction in the State of Illinois for
the purpose of any legal action or proceeding in any such court with respect to,
or arising out of, this Guaranty, the Note Purchase Agreement or the Notes. The
Guarantor consents to process being served in any suit, action or proceeding by

                                       -6-

<PAGE>

mailing a copy thereof by registered or certified mail, postage prepaid, return
receipt requested, to its address specified in or designated pursuant to the
Note Purchase Agreement. The Guarantor agrees that such service upon receipt (i)
shall be deemed in every respect effective service of process upon it in any
such suit, action or proceeding and (ii) shall, to the fullest extent permitted
by law, be taken and held to be valid personal service upon and personal
delivery to it.

     SECTION 14. Miscellaneous. Any provision of this Guaranty that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. To the extent permitted
by applicable law, the Guarantor hereby waives any provision of law that renders
any provisions hereof prohibited or unenforceable in any respect. The terms of
this Guaranty shall be binding upon, and inure to the benefit of, the Guarantor
and the Holders and their respective successors and assigns. No term or
provision of this Guaranty may be changed, waived, discharged or terminated
orally, but only by an instrument in writing signed by the Guarantor and the
Holders. The section and paragraph headings in this Guaranty and the table of
contents are for convenience of reference only and shall not modify, define,
expand or limit any of the terms or provisions hereof, and all references herein
to numbered sections, unless otherwise indicated, are to sections in this
Guaranty. This Guaranty shall in all respects be governed by, and construed in
accordance with, the laws of the State of Illinois, including all matters of
construction, validity and performance.

     IN WITNESS WHEREOF, the Guarantor has caused this Guaranty to be duly
executed as of the day and year first above written.

                                 HEWITT HOLDINGS LLC,
                                 an Illinois limited liability company

                                 By: ________________________________________
                                 Name: ______________________________________
                                 Title: _____________________________________

                                       -7-

<PAGE>

                                   SCHEDULE I

<TABLE>
<CAPTION>
                                                                    Outstanding Principal
Name of Holder                                                    Amount as of May 31. 2002
--------------                                                    -------------------------
<S>                                                               <C>
Jackson National Life Insurance Company                                 $31,557,798.75
Connecticut General Life Insurance Company                                9,857,312.39
Transamerica Occidental Life Insurance Company                            9,043,405.00
The Minnesota Mutual Life Insurance Company                               9,043,394.09
The Canada Life Assurance Company                                         2,705,360.96
Canada Life Insurance Company of America                                  1,803,573.97
Lincoln Life & Annuity Company of New York                                3,697,325.90
</TABLE>

                                   Schedule I

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