Document:

<PAGE>
                                  EXHIBIT 10.39

                              AMENDMENT TO CONTRACT

      Amendment to Employment Contract dated May 6, 1999, between EDGAR ONLINE,
INC., hereinafter ("Company") and SUSAN STRAUSBERG ("Employee").

      WHEREAS, Company and Employee wish to continue Employee's employment with
the Company; and

      WHEREAS, in consideration for Employee's continued employment and change
in responsibilities, the parties wish to modify certain provisions of the
Employment Contract,

      NOW THEREFORE, in consideration for $10.00 and other good and valuable
consideration, the parties hereby agree as follows:

      1. For purposes of Section 3 Duties, modify the position to that of
President and Chief Executive Officer.

      2. That Employee's compensation pursuant to paragraph 4(a) of that certain
Employment Contract dated May 6, 1999, is hereby modified and amended so as to
increase Employee's annual compensation, as of March 17, 2003, from $160,000 to
$220,000 per annum; and

      3. For purposes of Paragraph 7(c)of that certain Employment Contract dated
May 6, 1999, the Employee's then applicable annual base salary shall remain at
the March 16, 2003 rate of $160,000.

      4. Section 7(c) is further modified to include continuation of the
Employee's medical benefits at Company cost for the severance period or until
Employee obtains full time employment with an employer that provides comparable
health coverage

      5. Effective June 1,2003, the Company will provide the Employee with a
Commutation Allowance of $1750 per month. Such Commutation Allowance will be
given in lieu of the Company providing an automobile and insurance to the
Employee. For purposes of Section 7 (c), this Allowance shall continue to be
provided to the Employee through the Severance period.

      In all other respects the Employment Contract dated May 6, 1999 shall
remain in full force and effect and unaltered.

EDGAR Online, Inc.

By:  /s/ Greg Adams
   --------------------------------
     Greg Adams
     Chief Financial Officer,
      Chief Operating Officer

/s/ Susan Strausberg
--------------------
SUSAN STRAUSBERG
March 17, 2003<PAGE>

                                  EXHIBIT 10.40

                              AMENDMENT TO CONTRACT

      Amendment to Employment Contract dated May 6. 1999, between EDGAR ONLINE,
INC., hereinafter ("Company") and MARC STRAUSBERG ("Employee").

      WHEREAS, Company and Employee wish to continue Employee's employment with
the Company; and

      WHEREAS, in consideration for Employee's continued employment and change
in responsibilities, the parties wish to modify certain provisions of the
Employment Contract,

      NOW THEREFORE, in consideration for $10.00 and other good and valuable
consideration, the parties hereby agree as follows:

      1. That Employee's compensation pursuant to paragraph 4(a) of that certain
Employment Contract dated May 6, 1999, is hereby modified and amended so as to
decrease Employee's annual compensation, as of March 17, 2003, from $150,000 to
$100,000 per annum; and

      2. For purposes of Paragraph 7(c)of that certain Employment Contract dated
May 6, 1999, the Employee's then applicable annual base salary shall remain at
the March 16, 2003 rate of $150,000.

      3. Section 7(c) is further modified to include continuation of the
Employee's medical benefits at Company cost for the severance period or until
Employee obtains full time employment with an employer that provides comparable
health coverage

      4. Effective June 1,2003, the Company will provide the Employee with a
      Commutation Allowance of $1750 per month. Such Commutation Allowance will
      be given in lieu of the Company providing an automobile and insurance to
      the Employee. For purposes of Section 7 (c), this Allowance shall continue
      to be provided to the Employee through the Severance period.

      In all other respects the Employment Contract dated May 6, 1999 shall
remain in full force and effect and unaltered.

EDGAR Online, Inc.

By:  /s/ Greg Adams
   --------------------------------
     Greg Adams
     Chief Financial Officer and
      Chief Operating Officer

/s/ Marc Strausberg
-------------------
MARC STRAUSBERG
March 17, 2003<PAGE>

                                  EXHIBIT 10.41

                              AMENDMENT TO CONTRACT

      Amendment to Employment Contract dated February 1, 2002, between EDGAR
ONLINE, INC., hereinafter ("Company") and GREG ADAMS ("Employee").

      WHEREAS, Company and Employee wish to continue Employee's employment with
the Company; and

      WHEREAS, in consideration for Employee's continued employment and change
in responsibilities, the parties wish to modify certain provisions of the
Employment Contract,

      NOW THEREFORE, in consideration for $10.00 and other good and valuable
consideration, the parties hereby agree as follows:

      1. For purposes of Section 3 Duties, modify the position to that of Chief
Operating Officer and Chief Financial Officer.

      2. That Employee's compensation pursuant to paragraph 4(a) of that certain
Employment Contract dated February 1, 2002, is hereby modified and amended so as
to increase Employee's annual compensation, effective of February 17, 2003, from
$155,000 to $195,000 per annum; and

      3. For purposes of Paragraph 7(c) of that certain Employment Contract
dated February 1, 2002, the Employee's then applicable annual base salary shall
remain at the February 16,2003 rate of $155,000.

      In all other respects the Employment Contract dated May 6, 1999 shall
remain in full force and effect and unaltered.

EDGAR Online, Inc.

By:  /s/ Susan Strausberg
   --------------------------------
     Susan Strausberg
     Chief Executive Officer

/s/ Greg Adams
----------------------------
GREG ADAMS

February 17, 2003<PAGE>
                                                               Exhibit 10.42

                        SEPARATION AND RELEASE AGREEMENT

     This SEPARATION AND RELEASE AGREEMENT ("Agreement"), executed as of 28th
day of March, 2003, is entered into by and between EDGAR ONLINE, INC., a
Delaware corporation with a principal place of business in Norwalk, Connecticut
(together with its subsidiaries and affiliates being collectively referred to
herein as "Company") and TOM VOS, an individual residing in Black Rock,
Connecticut ("Executive").
                               W I T N E S S E T H

     WHEREAS, the Executive shall cease to be an employee of the Company as of
the Separation Date (as hereinafter defined);

     WHEREAS, the Executive and the Company desire to settle fully and finally
any and all employment-related matters between them as of the Separation Date,
including, but not limited to, any issues that may arise out of the Executive's
employment with the Company and the termination thereof.

     NOW, THEREFORE, in consideration of the mutual agreements and
understandings set forth herein, intending to be legally bound, the parties
hereto hereby agree as follows:

Section 1.        Termination of Employment; Benefits.

         (a)      Termination of Employment. The Executive's employment with the
                  Company shall terminate as of the close of business on March
                  28, 2003 (the "Separation Date").

         (b)      Benefits. In consideration for the Executive's agreement to be
                  bound by the terms of this Agreement the Executive shall be
                  entitled to receive from the Company the payments and benefits
                  set forth in subparagraphs (i) through (vi) of this Section
                  1(b).

                  (i)  The Company agrees to pay the Executive:

                        (1) Two Hundred and Fifty Thousand Dollars ($250,000) on
                            or before April 16, 2003 (the "Commencement Date");

                        (2) Fifty Thousand Dollars ($50,000) on or before
                            January 15, 2004;

                        (3) Two Hundred and Ten Thousand Dollars ($210,000) in
                            equal regular installments consistent with Company's
                            group payroll pay dates paid over 21 months, such
                            installment payments to commence on or before April
                            16, 2003;

                        (4) Forty Two Thousand Dollars ($42,000) in equal
                            regular installments consistent with Company's group
                            payroll pay
<PAGE>

                            dates paid over six months, commencing at the
                            conclusion of the payments referenced in 1(b)(i)(3)
                            herein. At Executive's option, the payments set
                            forth in this sub paragraph may be altered so that
                            the total sum of $42,000 is paid over a period as
                            long as 15 months in equal regular installments
                            consistent with Company's group payroll pay dates.

                        (5) All payments pursuant to this Section 1(b)(i) shall
                            be made by the Company by wire transfer to the
                            Executive's account in which his payroll is
                            currently deposited on the dates specified above;
                            provided, that to the extent any such payment
                            obligation remains unpaid by the Company for ten
                            (10) Business Days, after written notice is given by
                            the Executive to the Company not less than ten (10)
                            days following the due date for such payment
                            obligation, all payment obligations pursuant to this
                            Section 1(b)(i) that are then unpaid shall become
                            immediately due and payable on the day following the
                            fifth Business Day after such notice is received by
                            the Company.

                        (6) Notwithstanding anything to the contrary in this
                            Section 1(b)(i), all cash payments due under this
                            Agreement shall become immediately due and payable
                            in the event of a Change in Control as that term is
                            defined inss.7(e) of the June 29, 2001 Employment
                            Agreement between the parties hereto ("Employment
                            Agreement"), or upon Executive's death; provided,
                            however, that all non-cash benefits shall continue
                            to be provided according to the terms of the
                            Agreement.

                        (7) Notwithstanding anything to the contrary in this
                            Section 1(b)(i), all cash payments due under this
                            Agreement shall become immediately due and payable
                            in accordance with applicable debtor/creditor law in
                            the event of a voluntary filing for protection under
                            the United States Bankruptcy Code or if there is a
                            voluntary assignment of assets for the benefit of
                            the Company's creditors ("Event"). All non-cash
                            benefits shall continue to be provided according to
                            the terms of this Agreement. In the case of an
                            Event, the Executive may properly file a proof of
                            claim for the full amount of consideration set forth
                            in this Agreement, less payments made by the Company
                            to Executive as of the date of the Event.

                        (8) The Executive shall have the right, on or after June
                            30, 2004, of demanding payment in full of all
                            payments then remaining due under this Agreement. If
                            Executive elects this option, all other benefits due
                            Executive shall terminate at time of this election.
                            Notification of this election shall be made in
                            writing.
<PAGE>

                        (ii) the Company will continue coverage of the Executive
                            (and the Executive's spouse and dependents if same
                            were covered on the Separation Date) in the
                            Company's health and life insurance plans, or
                            similar coverage on an after tax basis if Executive
                            is unable to participate in the Company's health and
                            life insurance plans, at no expense to the Executive
                            (and the Executive's Spouse and eligible dependents)
                            and at the levels generally applicable to other
                            executive officers of the Company as may be changed
                            by the Company from time to time, for the shorter of
                            the following periods:

                              (1)  through and including June 30, 2005 or a
                                   period co-existent with the payments to be
                                   made in section 1(b)(i)(4) hereof, if at the
                                   Executive's choice the payments extend beyond
                                   this date; OR

                              (2)  through the date occurring on or after March
                                   28, 2004 on which Executive (and his spouse
                                   and eligible dependents) is eligible for
                                   coverage under a reasonably comparable
                                   employer sponsored health insurance plan.

                       (iii) the Company will make all scheduled payment to the
                             Deferred Compensation Plan in 2003, 2004 and 2005,
                             all as more particularly set forth inss.4(b) of the
                             Employment Agreement and Section 4.1 of the
                             Deferred Compensation Plan. For purposes of the
                             Deferred Compensation Plan only, Executive shall be
                             deemed to have been involuntarily separated from
                             the Company and, as such, all benefits under the
                             plan shall vest as of October 30, 2005 in the
                             greater amount of the Net Surrender Value of the
                             Executive's account OR the sum of $304,860.00, with
                             such amount to be paid on or before April 16, 2006.
                             At Executive's option, Executive may terminate the
                             Deferred Compensation Plan at anytime and the funds
                             contributed therein by the Company shall
                             immediately vest in Executive. In the event that
                             Executive elects to terminate the Deferred
                             Compensation Plan, the Company shall be released
                             from any obligation to further fund such Plan after
                             the date on which Executive terminates same. The
                             Company agrees not to terminate or change in any
                             material way this Deferred Compensation Plan
                             without written consent from Executive.

                       (iv)  Executive shall be permitted, though not required,
                             to participate in the Company's 401K Plan and the
                             contributions made by the Company shall vest in
                             accordance with such Plan during the payment period
                             set forth in section 1(b)(i) hereof. Executive's
                             continued participation in the 401K Plan shall be
                             limited in time to the longer of the following
                             periods: a.) through and including June 30, 2005,
                             or b.) through a period co-existent with the
<PAGE>

                             payments to be made in section 1(b)(i)(4) of this
                             Agreement if at the Executive's choice the payments
                             extend beyond this date. If for any reason during
                             the term of this Agreement the Executive is deemed
                             to be ineligible for inclusion in the 401K plan,
                             the Company shall make payments to the Executive
                             consistent with the maximum amount the Company
                             would have matched had Executive been permitted to
                             continue his participation in the 401K plan.

                       (v)   Executive's rights in and to stock options
                             previously granted shall vest as of the Separation
                             Date. Executive shall have the right to exercise
                             all vested options through and including March 30,
                             2008. In the event that a Change in Control (as
                             defined herein) occurs or the Company has two
                             consecutive quarters with Positive Earning per
                             share in either case at anytime prior to March 31,
                             2006, the Executive shall be entitled to an
                             additional Eight Thousand (8,000) shares of Company
                             Stock distributed free and clear of all
                             restrictions.

                             Executive shall be entitled to reimbursement for
                             outplacement services rendered to him in an amount
                             not to exceed Twenty Five Thousand Dollars
                             ($25,000.00), provided however, that Executive's
                             right to reimbursement for outplacement services
                             shall cease if he accepts employment on or after
                             March 28, 2004.

                       (vi)  Executive shall have no duty to mitigate his
                             damages by seeking new employment or otherwise in
                             order to receive the benefits set forth herein.

       2.       Mutual Release.
                --------------
                (a)    Release by the Executive.

                       (i)   The Executive knowingly and voluntarily releases
                             and forever discharges the Company and the
                             Company's parents, subsidiaries and affiliates,
                             together with all of their respective past and
                             present directors, managers, officers, partners,
                             employees and attorneys, and each of their
                             predecessors, successors and assigns, and any of
                             the foregoing in their capacity as a shareholder or
                             agent of the Company (collectively, "Releasees")
                             from any and all claims, charges, complaints,
                             promises, agreements, controversies, liens,
                             demands, causes of action, obligations, damages and
                             liabilities of any nature whatsoever, known or
                             unknown, suspected or unsuspected, which against
                             them the Executive or his executors,
                             administrators, successors or assigns ever had, now
                             have, or may hereafter claim to have against any of
                             the Releasees by reason of any matter, cause or
                             thing whatsoever arising on or before the
                             Separation Date and whether or not previously
                             asserted before any
<PAGE>

                            state or federal court or before any state or
                            federal agency or governmental entity (the
                            "Release"). The Release includes, without
                            limitation, any rights or claims relating in any way
                            to the Executive's employment relationship with the
                            Company or any of the Releasees, or the termination
                            thereof, or arising under any statute or regulation,
                            including the Age Discrimination in Employment Act
                            of 1967, Title VII of the Civil Rights Act of 1964,
                            the Civil Rights Act of 1991, the Americans with
                            Disabilities Act of 1990, the Employee Retirement
                            Income Security Act of 1974, and the Family Medical
                            Leave Act of 1993, each as amended, or any other
                            federal, state or local law, regulation, ordinance
                            or common law, or under any policy, agreement,
                            understanding or promise, whether written or oral,
                            formal or informal, between any of the Releasees and
                            the Executive.

                       (ii) Nothing herein shall be deemed to release any of
                            the Executive's rights under this Agreement.

                      (iii) The Executive represents that the Company has
                            advised him to consult with an attorney of his
                            choosing prior to signing this Agreement. The
                            Executive further represents that he understands
                            and agrees that he has the right and has in fact
                            reviewed this Agreement and, specifically, the
                            Release, with an attorney of the Executive's
                            choice. The Executive further represents that he
                            understands and agrees that the Company is under no
                            obligation to offer him this Agreement, and that
                            the Executive is under no obligation to consent to
                            the Release, and that he has entered into this
                            Agreement freely and voluntarily.

                       (iv) THE EXECUTIVE SHALL HAVE 21 DAYS TO CONSIDER THIS
                            AGREEMENT AND ONCE HE HAS SIGNED THIS AGREEMENT, THE
                            EXECUTIVE SHALL HAVE SEVEN ADDITIONAL DAYS FROM THE
                            DATE OF EXECUTION TO REVOKE HIS CONSENT TO THE
                            RELEASE SET FORTH ABOVE. Any such revocation shall
                            be made by delivering written notification to the
                            Chairman of the Board of Directors of the Company
                            and the Chairman of the Audit Committee of the Board
                            of Directors of the Company. In the event that the
                            Executive revokes his Release, all the terms of the
                            other sections and subsections of this Agreement,
                            other than Section 1(a) hereof, shall be null and
                            void and shall not become effective. If no such
                            revocation occurs, the Release and this Agreement
                            shall become effective as of the eighth day after
                            the date the Executive signs this Agreement.

               (b)     Release by the Company.
<PAGE>

                       (1)   Except as provided below, as a material inducement
                             to enter into this Agreement, the Company, on its
                             behalf and that of its affiliates and their
                             officers and directors, agents, employees,
                             successors and assigns (solely in their capacity as
                             officers or directors of the Company) hereby
                             knowingly and voluntarily releases and forever
                             discharges the Executive and his agents, employees,
                             successors, heirs, beneficiaries or assigns (the
                             "Executive Released Parties") from any and all
                             claims, charges, complaints, promises, agreements,
                             controversies, liens, demands, causes of action,
                             obligations, damages and liabilities of any nature
                             whatsoever that it had, now has, or may hereafter
                             claim to have against the Executive Released
                             Parties arising out of or relating in any way to
                             the Executive's employment relationship with the
                             Company, whether or not previously asserted before
                             any state or federal court or before any state,
                             federal or regulatory agency or governmental
                             entity; provided, however, that neither the
                             Executive nor any of the Executive Released Parties
                             shall be released or discharged from any such
                             claim, charge, complaint, promise, agreement,
                             controversy, lien, demand, cause of action,
                             obligation, damage or liability which arises in
                             whole or in part out of or relates in any way to
                             the willful misconduct or gross negligence of the
                             Executive or any of the Executive Released Parties.

                       (2)   Nothing herein shall be deemed to release any of
                             the Company's rights under this Agreement.

3.       Mutual Non-Disparagement.
         ------------------------
         The Executive agrees that he will not make or publish any statement
         which is, or may reasonably be considered to be, disparaging of the
         Company, the Company's subsidiaries or affiliates, or directors,
         officers or employees of the businesses of the Company or any of the
         Company's subsidiaries or affiliates. The Company agrees that it will
         not make or publish any statement that is, or may reasonably be
         considered to be, disparaging of the Executive.

4.       Confidentiality; Intellectual Property; Disclosure.
         --------------------------------------------------
        (a)  Following the Separation Date, the Executive shall keep secret and
             retain in strictest confidence, any and all Confidential
             Information (as hereinafter defined) relating to the Company. For
             purposes of this Agreement, "Confidential Information" shall mean
             any confidential or proprietary information including, without
             limitation, plans, specifications, models, samples, data, customer
             lists and customer information, computer programs and
             documentation, and other technical and/or business information, in
             whatever form, tangible or intangible, printed, electronic or
             magnetic, that can be communicated by whatever means available at
             such time, that relates to the Company's business during the period
             the Executive served as an executive officer of the Company,
             products, services and/or developments, or information
<PAGE>

             received from others that the Company is obligated to treat as
             confidential or proprietary, and the Executive shall not disclose
             such Confidential Information to any person other than the Company,
             except as may be required by law or court or administrative order
             (in which event the Executive shall so notify the Company as
             promptly as practicable). The Executive shall promptly return to
             the Company reproductions and summaries of Confidential Information
             in his possession or control and erase the same from all media in
             his possession or control, and, if the Company so requests, shall
             certify in writing that he has done so. All Confidential
             Information is and shall remain the property of the Company, or in
             the case of information that the Company receives from a third
             party which it is obligated to treat as confidential, the property
             of such third party.

        (b)  All Intellectual Property (as hereinafter defined) created,
             developed, co-developed, obtained or conceived of by the Executive
             during the period the Executive served as an executive officer of
             the Company shall be owned by and belong exclusively to the
             Company, provided that they reasonably relate to any of the
             business of the Company on the date of such creation, development,
             obtaining or conception, and the Executive shall (i) promptly
             disclose any such Intellectual Property to the Company, and (ii)
             promptly execute and deliver to the Company, without additional
             compensation, such instruments as the Company may require from time
             to time to evidence its ownership of any such Intellectual Property
             (the "Intellectual Property Documents"). If the Company is unable
             because of the Executive's mental or physical incapacity or for any
             other reason to secure the Executive's signature for any
             Intellectual Property Document, then the Executive hereby
             irrevocably designates and appoints the Company and its duly
             authorized officers and agents as his agent and attorney in fact,
             to act for and in his behalf and stead to execute and file any
             Intellectual Property Document and to do all other lawfully
             permitted acts to evidence or perfect the Company's ownership and
             rights of and to any Intellectual Property or business opportunity
             with the same legal force and effect as if executed by the
             Executive. For purposes of this Agreement, the term "Intellectual
             Property" means any and all of the following and all statutory
             and/or common law rights throughout the world in, arising out of,
             or associated therewith: (i) all patents and applications
             therefore, including docketed patent disclosures awaiting filing,
             reissues, divisions, renewals, extensions, provisionals,
             continuations and continuations-in-part thereof; (ii) all
             inventions (whether patentable or not), inventions disclosures and
             improvements, all trade secrets, confidential business information
             (including ideas, research and development, know-how, compositions,
             designs, specifications, pricing and cost information and business
             and market plans and proposals), proprietary information,
             manufacturing, engineering and technical drawings and
             specifications and processes; (iii) all works of authorship, "moral
             rights," copyrights (including derivative works thereof), mask
             works, copyright and mask work registrations and applications
             therefore; (iv) all trade names, trade dress, logos, product names,
             collective marks, collective membership marks, trademarks
             certification marks and
<PAGE>

             service marks, trademark and service mark registrations and
             applications together with the goodwill of the business symbolized
             by the names and the marks; (v) all data and related documents,
             object code, databases, passwords, encryption, firmware,
             development tools, files, records and data, and all media on which
             any of the foregoing is recorded; (vi) any similar, corresponding
             or equivalent rights to any of the foregoing; (vii) all
             documentation related to any of the foregoing; and (viii) all
             goodwill associated with any of the foregoing.

5.      Non-Competition; Non-Solicitation.
         ---------------------------------

        (a)  During the period commencing on April 1, 2003 and expiring on March
             31, 2004 ("Noncompetition Period"), the Executive shall not,
             directly or indirectly, own, manage, operate, control or
             participate in the ownership, management, operation or control of,
             or be connected as an officer, employee, consultant, partner, or
             director with, any business conducted anywhere in any State within
             the United States of America which is or which becomes during the
             Noncompetition Period directly or indirectly competitive with the
             Company, as the same is conducted as of the Separation Date. During
             the Noncompetition Period, ownership by the Executive of not more
             than 5% of the equity securities of any Competitive Operation shall
             not constitute a violation of this Section 5(a).

        (b)  During the period commencing on April 1, 2003 and expiring on March
             31, 2004 ("Nonsolicitation Period"), the Executive shall not,
             directly or indirectly, solicit, interfere with, hire or offer to
             hire any person who is or was an employee of the Company during the
             12-month period prior to the Separation Date (excepting from this
             exclusion any person falling within this category who approaches
             Executive independently (i.e., not solicited by Executive)), or
             induce such person to discontinue his or her relationship with the
             Company or to accept employment by, or enter into a business
             relationship with, the Executive or any other entity or person.
             During the Nonsoliciation Period, the Executive shall not, directly
             or indirectly, (i) solicit, interfere with, induce or entice away
             any person or entity that is or was a client, customer or agent of
             the Company during the 12-month period prior to the Separation
             Date, with respect to any product or service which is directly or
             indirectly competitive with the Company, as the same are conducted
             as of the Separation Date, or (ii) in any manner persuade or
             attempt to persuade any such person or entity (A) to discontinue a
             business relationship with the Company or (B) to enter into a
             business relationship with the Executive or any other entity or
             person which would be adverse to the interests of the Company.

        (c)  In the event any restriction against engaging in a competitive
             activity contained in this Section 5 shall be determined by any
             court of competent jurisdiction to be unenforceable by reason of
             its extending for too great a period of time or over too great a
             geographical area or by reason of its being too extensive in any
             other respect,
<PAGE>

             it shall be interpreted to extend only over the maximum period of
             time for which it may be enforceable, over the maximum geographical
             area as to which it may be enforceable and to the maximum extent in
             all other respects as to which it may be enforceable, all as
             determined by such court in such action.

6.      Knowledge of Claims.
        --------------------
        The Executive represents and warrants that, to the knowledge of the
        Executive and other than what has been disclosed by the Company in its
        SEC filings, there is no reasonable basis for any third party to assert
        any claim against the Company or any of the Company's subsidiaries or
        affiliates, or any of the past or present officers or directors of any
        of the forgoing (including the Executive) acting in their capacities as
        such, under federal, state or local law, including a breach of any
        applicable duty under common law. Except as set forth on Schedule A
        hereto, the Executive further represents and warrants that, to the
        knowledge of the Executive, there are no claims, actions, suits,
        investigations or proceedings threatened against the Company or any of
        the Company's parents, subsidiaries or affiliates, or any of the past or
        present officers or directors of any of the forgoing (including the
        Executive) acting in their capacities as such, under any federal, state
        or local law, including a breach of any applicable duty under common
        law. The Executive further represents and warrants that there is no
        reasonable basis for the Company to assert any claim against the
        Executive for violation of any federal, state, or local law, or breach
        of any applicable duty under common law.

7.      Cooperation.
        ------------
        Subject to the provisions of Section 10 hereof, the Executive agrees
        that he will fully cooperate in any litigation in which the Company or
        any of the Company's parents, subsidiaries and affiliates may become
        involved provided that it does not unreasonably interfere with his then
        current employment or business activities. Subject to the preceding
        sentence, such cooperation shall include the Executive making himself
        available, upon the request of the Company, for depositions, court
        appearances and interviews by Company's counsel. To the maximum extent
        permitted by law, the Executive agrees that he will notify the Chairman
        of the Board of Directors of the Company and the Chairman of the Audit
        Committee of the Board of Directors of the Company if he is contacted by
        any government agency or any other person contemplating or maintaining
        any claim or legal action against the Company or any of the Company's
        parents, subsidiaries and affiliates, or by any agent or attorney of
        such person.

8.      Proceedings.
        ------------
        The Executive has not filed, and agrees not to initiate or cause to be
        initiated on his behalf, any complaint, charge, claim or proceeding
        against the Company before any local, state or federal agency, court or
        other body relating to his employment or the separation or termination
        of his employment, other than with respect to the obligations of the
        Company to
<PAGE>

        the Executive under this Agreement, (each individually, a "Proceeding"),
        and agrees not to voluntarily participate or join in any Proceeding.

9.      Board of Directors
        ------------------
        Executive is currently a member of the Company's Board of Directors and
        will continue to serve in that capacity after the Commencement Date. The
        normal and regular corporate governance rules of the Company apply.

10.     Indemnification.
        ----------------
        (a)  From and after the Separation Date, the Company shall indemnify,
             defend and hold harmless the Executive against all costs or
             expenses (including reasonable attorneys' fees), judgments, fines,
             losses, claims, damages or liabilities (collectively, "Costs")
             incurred in connection with any claim, action, suit, proceeding or
             investigation, whether civil, criminal, administrative or
             investigative, arising out of actions or omissions of the Executive
             occurring prior to the Separation Date, which is based upon or
             relates to the Executive's capacity as a director or officer of the
             Company, to the fullest extent the Executive is permitted to be
             indemnified under the Company's Articles of Incorporation and
             Bylaws as in effect on the date of this Agreement. In the event of
             any such threatened or actual claim, action, suit, proceeding or
             investigation (whether asserted or arising before or after the
             Separation Date), the Executive may retain counsel reasonable
             satisfactory to the Executive and the Company; provided, however,
             that (1) the Company shall have the right to assume the defense
             thereof and upon such assumption the Company shall not be liable to
             the Executive for any legal expenses of other counsel or any other
             expenses subsequently incurred by the Executive in connection with
             the defense thereof, except that if the Company elects not to
             assume such defense, or counsel for the Executive reasonably
             advises the Executive that there are issues which raise conflicts
             of interest between the Company and the Executive, the Executive
             may retain counsel reasonably satisfactory to the Executive and the
             Company, and the Company shall pay the reasonable fees and expenses
             of such counsel for the Executive and (2) the Company shall not be
             liable for any settlement effected without its prior written
             consent; provided, further, that nothing in this Section 10 shall
             prevent the Executive from retaining separate counsel with the
             prior written consent of the Company which consent shall not be
             unreasonably withheld. If the Executive wishes to claim
             indemnification under this Section 10, upon learning of any such
             claim, action, suit, proceeding or investigation, the Executive
             shall promptly notify the Company thereof, provided that the
             failure to notify shall not affect the obligation of the Company
             under this Section 10 except to the extent such failure to notify
             materially prejudices the Company. The Company's obligations under
             this Section 10 shall continue in full force and effect for a
             period of six years after the Separation Date; provided that all
             rights to indemnification in respect of any claim, action, suit,
<PAGE>

             proceeding or investigation made, asserted or commenced with such
             six year period shall continue until the final disposition of such
             claim, action, suit, proceeding or investigation.

        (b)  Notwithstanding anything in this Section 10 of the Agreement,
             Executive shall be required to participate in the defense of any
             claim covered by this indemnity provision in a commercially
             reasonable manner including, but not limited, fully and completely
             disclosing/providing all relevant information/documents (and
             information/documents that could lead to relevant
             information/documents) concerning such claim(s), meeting with
             Company officials and attorneys, cooperating in taking of
             depositions and trial testimony, and otherwise cooperating in the
             conduct of the defense, provided that it does not unreasonably
             interfere with his then current employment or business activities.

11.      Consultation and Repayment of Loan.
         ----------------------------------

        (a)  Executive agrees to make himself available to consult with the
             Company as and when needed on an ongoing basis regarding issues
             arising out of or related to matters within the scope of his
             employment, as reasonably requested by the Company from the
             Commencement Date to June 30, 2005 ("Consulting Period"), provided,
             however, that nothing in this paragraph shall prohibit or restrict
             Executive from accepting other employment during the Consulting
             Period.

        (b)  Executive shall have the use of private office space at the
             Company's Norwalk office during the Consulting Period, or until
             such earlier time on or after March 28, 2004 as Executive shall
             secure employment that requires 20 or more hours per week to
             perform. During the time the office space is provided to Executive
             as set forth herein, the Company shall permit Executive to use the
             laptop computer and cell phone currently in his possession, and the
             Company shall reimburse Executive for all expenses he reasonably
             incurs on behalf of the Company.

        (c)  Executive is obligated under a current loan agreement to repay a
             loan ("Loan") to the Company in the amount of $198,231.25 as of
             March 31, 2003. Executive hereby reaffirms this obligation. At
             Executive's option, the Loan may be repaid with Executive's shares
             of Company Stock, with such stock to be valued in accordance with
             the closing market price on the Business Day immediately prior to
             the day such stock is tendered.

        (d)  The Employment Agreement shall remain in full force and effect
             until the expiration of the revocation period set forth herein for
             the acceptance by Executive of the terms hereof.
<PAGE>

12.          Certain Defined Terms. For purposes of this Agreement, the
             following terms shall have the following meanings:
             -----------------------------------------------------------

        (a)  "Affiliate" or "Affiliates" shall mean, with respect to any Person,
             any other Person which directly or indirectly controls or is
             controlled by or is under common control with such Person (as used
             in this definition, "control" (including its correlative meanings,
             "controlled by" and "under common control with") shall mean
             possession, directly or indirectly, of power to direct or cause the
             direction of management or policies (whether through ownership of
             securities or partnership or other ownership interests, by contract
             or otherwise)).

        (b)  "Business Day" shall mean any day, other than a Saturday, Sunday or
             a day on which banking institutions in the State of Connecticut are
             authorized or obligated by law or executive order to close.

        (c)  "Change in Control" shall be defined in the same manner asss.7(e)
             of the Employment Agreement.

        (d)  "Exchange Act" shall mean the Securities Exchange Act of 1934, as
             amended.

        (e)  "Person" shall mean an individual, corporation, association,
             partnership, group (as such term is used in Section 13(d)(3) of the
             Exchange Act), trust, joint venture, business trust or
             unincorporated organization, or a government or any agency or
             political subdivision thereof.

13.     Notice.
        -------
        For purposes of this Agreement, notices and all other communications
        provided for in this Agreement shall be in writing and shall be deemed
        to have been duly given when delivered or mailed by United States
        registered mail, return receipt requested, postage prepaid as follows:

                           If to the Company:
                           EDGAR Online, Inc.
                           50 Washington Street
                           South Norwalk, Connecticut 06854
                           Attention: Susan Strausberg

        with a copy to:

                           Neal L. Moskow, Esq.
                           Ury & Moskow, LLC
                           883 Black Rock Tpke.
                           Fairfield, CT 06825
<PAGE>

                           If to the Executive:

                           Tom Vos
                           106 Grovers Avenue
                           Black Rock, CT 06605

                           With a copy to:
                           Henry I. Morgenbesser
                           Allen & Overy
                           1221 Avenue of the Americas
                           New York, NY 10020

or such other address as either party may have furnished to the other in writing
in accordance herewith, except that notices of change of address shall be
effective only upon receipt.

14.    Miscellaneous.
       --------------
       (a)   Enforcement; Governing Law; Jurisdiction. This Agreement shall be
             governed by and construed in accordance with the laws of the State
             of Connecticut without regard to its conflicts of law principles.
             The Company shall have the right, without prejudice to any other
             rights or remedies it might have under the law which are reserved,
             to apply for injunctive relief to restrain any breach or threatened
             breach by the Executive of this Agreement or otherwise to
             specifically enforce any provision of this Agreement; provided,
             however, that such injunctive relief does not preclude the Company
             from seeking monetary damages for a breach by the Executive of this
             Agreement; and provided, further, that the Company shall not be
             precluded from seeking monetary damages from the Executive that
             exceed the amount of the Company's obligations to Executive.

       (b)   Headings. The section and paragraph headings contained in this
             Agreement are for reference purposes only and shall not affect in
             any way the meaning or interpretation of this Agreement.

       (c)   Counterparts. This Agreement may be executed in two or more
             counterparts, each of which shall be deemed an original, but all of
             which together shall constitute one and the same instrument.

       (d)   Entire Agreement. This Agreement contains the entire understanding
             between the parties and supersedes all previous oral and/or written
             communications and agreements, expressed or implied, between them
             pertaining to Executive's employment with the Company, and the
             termination of that relationship, including,
<PAGE>

             but not limited to, the Employment Agreement, in order to resolve,
             completely and finally, all issues between them. The Company's
             Deferred Compensation Plan is attached hereto as Exhibit A and made
             a part hereof and shall not be affected hereby except as referenced
             in section 1(b)(iii). To the extent that the Employment Agreement
             has been cited herein for definitions, those definitions are
             incorporated herein and made a part hereof by such reference.

       (e)   Severability. If any term or other provision of this Agreement is
             invalid, illegal or incapable of being enforced by any rule of law
             or public policy, all other conditions and provisions of this
             Agreement shall nevertheless remain in full force and effect.

       (f)   Successors. This Agreement shall be binding upon and shall inure to
             the benefit of each of the parties hereto, and their respective
             heirs, legatees, executors, administrators, legal representatives,
             successors and assigns. The provisions of Section 2(a) hereof are
             intended to be for the benefit of, and shall be enforceable by,
             each Releasee and his, her or its, heirs and representatives.

       (g)   Withholding. All payments made by the Company to the Executive
             pursuant to Section 1(b) of this Agreement shall be reduced by all
             federal, state, city or other taxes that are required to be
             withheld pursuant to any law or governmental regulation.

       (h)   Review by Attorney. Each signatory to this Agreement has had an
             opportunity to discuss the terms of this Agreement with an
             attorney, and each signatory hereto knowingly, voluntarily, and
             willingly enters into this Agreement with the full understanding of
             its and his rights and liabilities hereunder. The parties each
             acknowledge that their respective counsel have provided competent,
             professional and effective representation in this matter, and that
             this Agreement is based on an assessment of the strengths and
             weaknesses of the respective positions, the cost of litigation, the
             time value of money, and a desire to amicably resolve Executive's
             separation from the Company.

       IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed as of the date first above written.

                                    EDGAR ONLINE, INC.

                                    By:

                                         Name:
                                         Title:

                                         -------------------------------
                                    By:  TOM VOS
<PAGE>

STATE OF CONNECTICUT                    )
                                        )  ss.          March            , 2003
COUNTY OF FAIRFIELD                     )

       Personally appeared, , of EDGAR Online, Inc., signer(s) and sealer(s) of
the foregoing instrument and acknowledged the same to be his/her free act and
deed and that of EDGAR Online, Inc., before me

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

                                         Notary Public

STATE OF CONNECTICUT                    )
                                        )  ss.      March            , 2003
COUNTY OF FAIRFIELD                     )

       Personally appeared, Tom Vos, signer(s) and sealer(s) of the foregoing
instrument and acknowledged the same to be his free act and deed, before me

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

                                         Notary Public

<PAGE>

                                   SCHEDULE A

       The following could be construed as threatened claims:

       None.

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