Document:

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                                                                    Exhibit 10.5

                                    SUBLEASE

     This SUBLEASE made as of February 4, 2000 (this "Sublease") by and between
Tomar Studios, Inc., a New York corporation having an address at 601 West 26th
Street, 13th Floor, New York, New York 10001, as sublandlord ("Sublandlord"),
and Screaming Media.com, Inc., a Delaware corporation having an address at 601
West 26th Street, 13th Floor, New York, New York 10001, as subtenant
("Subtenant").

     Sublandlord is a party to that certain Agreement of Lease, dated December
30, 1998, between 601 West Associates LLC, as landlord ("Landlord," which term
shall include any successor to the interests of Landlord in the Premises), and
Sublandlord, as tenant (the "Agreement of Lease"), as supplemented by that
certain letter agreement, dated December 29, 1998, between the Landlord and the
Sublandlord (the "Letter Agreement"), and as modified by that certain Lease
Modification and Extension Agreement, dated as of April 28, 1999, between
Landlord and Sublandlord (the "Modification") (the Agreement of Lease, as so
supplemented and so modified (and including the Rules and Regulations referred
to in Paragraphs 36 and 79 of the Agreement of Lease as such Rules and
Regulations may be modified from time to time as provided in Paragraph 36 of the
Agreement of Lease), the "Master Lease"), with regard to certain premises known
as Suite SE1-7 on the thirteenth (13th) floor of the building known as 601 West
26th Street, in the Borough of Manhattan, City of New York (the "Building"), all
as more fully set forth in the Master Lease (such premises the "Premises"). A
copy of the Master Lease is attached to this Sublease as Exhibit A. Sublandlord
wishes to sublease to Subtenant, and Subtenant wishes to sublease from
Sublandlord, the Premises. The Premises are approximately as shown on Exhibit B
to this Sublease.

     Accordingly, Sublandlord and Subtenant, for themselves and their successors
and assigns, hereby agree as follows:

     1. AGREEMENT. Sublandlord subleases the Premises to Subtenant, and
Subtenant subleases the Premises from Sublandlord, upon the terms and conditions
set forth in this Sublease. Subject to the exception set forth at the beginning
of the second sentence of Paragraph 10 hereof and except for those terms,
covenants, conditions and other provisions of the Master Lease referred to in
the last sentence of Paragraph 10 hereof, the terms, covenants, conditions and

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other provisions of the Master Lease (including, without limitation, the terms,
covenants, conditions and other provisions of Paragraph 52 thereof), are
incorporated into this Sublease as the agreement of Sublandlord and Subtenant as
though Sublandlord were Landlord as the landlord under the Master Lease and
Subtenant were Sublandlord as the tenant under the Master Lease, all as more
fully set forth in Paragraph 10 hereof (provided that any references in the
Master Lease to any subtenant shall also refer to Subtenant and any references
in Paragraph 52,53 or 69 of the Master Lease to Landlord shall be deemed to be
references to both Landlord and Sublandlord).

     2. TERM. The term of this Sublease will begin on the date hereof (such date
the "Commencement Date") and will end on the day immediately preceding the last
day of the term of the Master Lease, inclusive, unless sooner terminated
pursuant to any of the terms, covenants or conditions of this Sublease or
pursuant to law. The term referred to in the preceding sentence (whether ending
on the day immediately preceding the last day of the term of the Master Lease or
sooner because sooner terminated pursuant to any of the terms, covenants or
conditions of this Sublease or pursuant to law) is referred to herein as the
"Term."

     3. RENT

         (a) Rent. As used in this Sublease, the term "Rent" shall mean and
include all Base Rent (as defined in subparagraph (b) of this Paragraph 3, and
all Additional Rent (as defined in subparagraph (c) of this Paragraph 3).

         (b) Base Rent

               (i) Amount. Subtenant will pay Sublandlord as base rent (the
          "Base Rent") for the Premises in each year during the term hereof the
          annual amount set forth on Exhibit C hereto.

               (ii) Base Rent Payable Monthly In Advance. All amounts of Base
Rent shall be payable in equal monthly installments as set forth on Exhibit C
hereto without notice, demand, offset, or counterclaim, each such installment of
Base Rent to be paid in advance on the first day of each month (except that the
Base Rent for the month beginning on the Commencement Date shall be payable
simultaneously with the execution and delivery hereof by Subtenant).

               (iii) Pro-Ration. If the Commencement Date hereof shall occur on
other than the first day of a month, any payment of Base Rent payable with
respect to any partial calendar month will be prorated on a per diem basis.
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         (c) Additional Rent.

               (i) Items Constituting Additional Rent. Subtenant shall pay as
additional rent the following amounts (the "Additional Rent"), each such amount
of Additional Rent to be paid as and when indicated:

                    (A) all amounts payable by Sublandlord to Landlord under the
Master Lease in respect of increases in "Taxes" (as defined in Paragraph 46 of
the Master Lease) over the amount of such Taxes for the tax year commencing on
July 1, 1999 and ending on June 30, 2000, any such amount to be payable by
Subtenant to Sublandlord as and when the same is payable by Sublandlord pursuant
to the Master Lease;

                    (B) all amounts from time to time payable by Sublandlord
under the Master Lease in respect of the water, sprinkler and sewer charges,
such amounts to be payable as and when installments of Base Rent are payable
hereunder, and such amounts to be subject to increase in the event of any
increase in the corresponding amount payable under the Master Lease;

                    (C) all amounts payable by Sublandlord for electricity
furnished to the Premises, any such amount to be payable by Subtenant to
Sublandlord upon Sublandlord's presentation to Subtenant of a copy of any bill
showing any amount payable by Sublandlord for electricity furnished to the
Premises;

                    (D) all amounts payable under the lease and maintenance
agreement with respect to the alarm system in the Premises, such amounts to be
payable as and when payments are required to be made by Subtenant under such
agreement; provided, that Subtenant shall be have the option, by notice to such
effect given to Sublandlord not later than the sixtieth (60th) day after the
Commencement Date, to elect to discontinue its use of such alarm system not
later than such sixtieth (60th) day, whereupon (provided that Subtenant in fact
discontinues such use) Subtenant shall have no further obligation to make
payments with respect to such alarm system for any period after such date of
discontinuance; and provided, further, that Subtenant hereby agrees that in the
event that Subtenant shall not give the notice referred to above in this
subparagraph (D) to Sublandlord by the sixtieth (60th) day after the
Commencement Date, then Subtenant shall be substituted for Sublandlord as a
party under such agreement and Subtenant shall

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assume all of Sublandlord's obligations under such agreement;

                    (E) all amounts payable under the lease and maintenance
agreement with respect to the telephone system in the Premises, such amounts to
be payable as and when payments are required to be made by Subtenant under such
agreement; provided, that Subtenant shall be have the option, by notice to such
effect given to Sublandlord not later than the sixtieth (60th) day after the
Commencement Date, to elect to discontinue its use of such telephone system not
later than such sixtieth (60th) day, whereupon (provided that Subtenant in fact
discontinues such use) Subtenant shall have no further obligation to make
payments with respect to such telephone system for any period after such date of
discontinuance; and provided, further, that Subtenant hereby agrees that in the
event that Subtenant shall not give the notice referred to above in this
subparagraph (E) to Sublandlord by the sixtieth (60th) day after the
Commencement Date, then Subtenant shall be substituted for Sublandlord as a
party under such agreement and Subtenant shall assume all of Sublandlord's
obligations under such agreement;

                    (F) all amounts payable to BellAtlantic with respect to all
BellAtlantic lines serving the Premises, such amounts to be payable as and when
payments are required to be made by Subtenant to BellAtlantic; provided, that
Subtenant shall be have the option, by notice to such effect given to
Sublandlord not later than the sixtieth (60th) day after the Commencement Date,
to elect to discontinue its use of such lines not later than such sixtieth
(60th) day, whereupon (provided that Subtenant in fact discontinues such use)
Subtenant shall have no further obligation to make payments with respect to such
lines for any period after such date of discontinuance; and provided, further,
that Subtenant hereby agrees that in the event that Subtenant shall not give the
notice referred to above in this subparagraph (B) to Sublandlord by the sixtieth
(60th) day after the Commencement Date, then Subtenant shall assume all of
Sublandlord's obligations to BellAtlantic with respect to such lines; and

                    (G) if, pursuant to the provisions of the Master Lease,
Sublandlord is charged for additional rent or other amounts other than the
amounts referred to above in subparagraphs (i)(A), (B), (C), (D), (B) and (F) of
this Paragraph 3 (including, without limitation, any amounts payable in respect
of any additional services procured by Subtenant from Landlord), then, in
addition to such amounts referred to in such subparagraphs, Subtenant will be
liable for such additional rent or other amounts, such additional rent or other
amounts to be paid to the Sublandlord as Additional Rent.
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                           (ii) Pro-Ration. If the Commencement Date shall occur
on other than the first day of a month, any payment of Additional Rent payable
with respect to any partial calender month will be prorated on a per diem basis.

     4. SECURITY DEPOSIT. Subtenant has deposited with Sublandlord the sum of
One Hundred Twenty-Eight Thousand Two Hundred Fifty Dollars ($128,250.00) which
Sublandlord will hold in an interest bearing account as a security deposit in
accordance with, and subject to the terms and provisions of, Paragraphs 32 and
58 of the Master Lease. In the event that Sublandlord shall at any time apply
any of such security deposit as provided herein or in the Master Lease, then,
upon the request of Sublandlord to Subtenant specifying the amount so applied,
Subtenant shall immediately deposit with Sublandlord, as an additional security
deposit, the amount so applied, so that the security deposit held by Sublandlord
shall at all times during the term hereof be equal to One Hundred Twenty-Eight
Thousand Two Hundred Fifty Dollars ($128,250.00). Sublandlord shall pay
subtenant the interest earned on such amount, less the one percent (1%)
administrative fee referred to in Section 7-103 of the General Obligations Law,
at the end of the term of the Sublease (subject to application of such interest
as provided in paragraph 2 of Section 7-103 of the General Obligations Law). In
the event that this Sublease is terminated (a) due to a default by Sublandlord
under this Sublease or (b) due to a default by Landlord or Sublandlord under the
Master Lease, then Sublandlord shall immediately return to Subtenant any
unapplied portion of the Security Deposit and any unapplied portion of prepaid
rent along with all accrued interest thereon (but less the one percent (1%)
administrative fee referred to in Section 7-103 of the General Obligations Law).
Sublandlord agrees to take such actions as may reasonably be requested by
Sublandlord to provide that all amounts of interest earned on the security
deposit (less the one percent (1%) administrative fee retained by Sublandlord)
shall be deemed to be income of the Subtenant for all income tax purposes.

     5. USE OF PREMISES. Subtenant shall use the Premises for the purposes
permitted under the Master Lease and for such additional purposes as may be
consented to by Landlord, and for no other purposes. Under no circumstances
shall Subtenant use the Premises or permit the Premises to be used for
manufacturing or for the creation, display or distribution of pornographic
materials.

     6. ACCEPTANCE OF PREMISES. Subject only to the fourth sentence of this
Paragraph 6, Subtenant acknowledges that it has inspected the Premises and that
it accepts the Premises in their present condition. Without limiting the
generality of the

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foregoing, Subtenant acknowledges that it or its consultants have determined
that the electrical service in the Premises will meet the Subtenant's needs.
Sublandlord makes no representation as to the suitability or adequacy of the
Building or the Premises (including, without limitation, the electrical service
in the Building or the Premises) for any use to be made of the Premises by
Subtenant. Notwithstanding the foregoing in this Paragraph 6, but subject to the
last sentence of this Paragraph 6, Sublandlord hereby indemnifies Subtenant and
holds Subtenant harmless from and against, and agrees to pay for, all costs or
expenses whatsoever which Subtenant may incur in order to correct any latent
defect in work performed by Sublandlord on the Premises that caused such work
not to be in compliance with applicable law as in effect on the date upon which
such work was completed (such a latent defect, hereinafter, a "Latent Defect");
provided, however, that such indemnity shall cover only such costs and expenses
as must necessarily be incurred in order to render the work affected by a Latent
Defect in compliance with applicable law as in effect on the date upon which
such work was completed. Nothing in the immediately preceding sentence shall be
deemed to provide for indemnification of Subtenant by Sublandlord against any
costs or expenses incurred by Subtenant (a) with respect to any Latent Defect
that arises as a result of any alternations made to the Premises by Subtenant,
(b) with respect to any Latent Defect that arises as a result of any use of the
Premises by Subtenant that differs from Sublandlord's use of the Premises, (c)
in connection with any inspection of the work performed by Sublandlord on the
Premises, (d) for attorneys' fees or expenses; (e) in connection with obtaining
any permit (including, without limitation, any building permit) or any
certificate of occupancy (except for those costs and expenses incurred in
correcting a Latent Defect so as to render the work affected thereby in
compliance with applicable law as in effect on the date upon which such work was
completed); or (f) in connection with any patent defect in any work performed by
Sublandlord.

     7. SERVICES; RESTORATION OF PREMISES AFTER FIRE OR OTHER CASUALTY

         (a) Services. Sublandlord shall provide to Subtenant such services as
are provided to it by Landlord pursuant to the Master Lease, to the extent of
Landlord's provision of such services from time to time. Subtenant shall have
the right, at its sole cost and expense, in its name or in the name of
Sublandlord, to take any action, as provided in the Master Lease or by law, to
enforce the rights of Subtenant as the tenant under the Master Lease as against
the Landlord and Sublandlord shall execute any and all documents which may be
reasonably necessary in order to enable Subtenant to enforce such rights under
this Paragraph 7(a).
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         (b) Fire or Other Casualty. In the event that the Premises shall be
damaged by fire or other casualty, Sublandlord shall have no liability for
repair or restoration of the Premises. In the event that the occurrence of such
fire or other casualty shall give rise to a right of Sublandlord to elect to
terminate the Master Lease, Subtenant shall have the same right as against
Sublandlord (but Subtenant shall have no right to exercise such right of
Sublandlord under the Master Lease). In the event that the occurrence of such
fire or other casualty shall give rise to a right of Sublandlord to reoccupy the
Premises upon the restoration thereof, and Subtenant desires to repossess the
Premises upon the restoration thereof, then Subtenant shall have the right to
exercise Sublandlord's right to elect to reoccupy the Premises.

         (c) Abatement. For any period in which Rent or other charges are abated
under the Master Lease for fire, other casualty, or disruption of services, Rent
of the same type under this Sublease and charges of the same type under this
Sublease shall abate for the same period.

     8. INSURANCE. Without limiting the generality of Paragraph 1 or Paragraph
10 hereof, the Subtenant shall at all times during the term hereof carry the
policies of insurance referred to in Paragraph 53 of the Master Lease, all
references to "Landlord" in such Paragraph 53 shall be deemed to be references
to both Landlord and Sublandlord, and both the Landlord and the Sublandlord
shall be named as additional insured parties (or loss payees, if Paragraph 53
provides in a particular instance that Landlord shall be designated a loss
payee) under the policies referred to in such Paragraph 53. In addition to the
insurance referred to in such Paragraph 53, throughout the term hereof Subtenant
shall maintain with insurers of the type described in such Paragraph 53 a policy
or policies of "special form" insurance covering any alterations made on the
Premises on or after the date hereof and covering all personal property (whether
or not affixed and whether belonging to Landlord, Sublandlord or Subtenant)
located from time to time in or upon the Premises, in an amount sufficient to
cover the full replacement value of such alterations and such property. The
Landlord and the Sublandlord shall be loss payees under such "special form"
polies or policies, as their interests may appear, and any such policy shall
provide that it shall not be canceled without thirty (30) days written notice to
Landlord and Sublandlord. Upon the request of Landlord or Sublandlord, Subtenant
shall obtain waivers of subrogation with respect to any liability or "special
form" policy or policies referred to in this Paragraph 8.

     9. PERMITS AND CERTIFICATES
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         (a) Certificate of Occupancy. Subtenant acknowledges that Sublandlord
has not obtained a certificate of occupancy with respect to or in connection
with Sublandlord's alterations to, or Sublandlord' s installation of leasehold
improvements in, the Premises and Subtenant agrees that Sublandlord shall have
no obligation to apply for or to obtain, or to pay any amount in connection with
Subtenant's application for or Subtenant's obtaining, any such certificate of
occupancy. Subtenant acknowledges that it is familiar with the certificate of
occupancy applicable to the Premises and Subtenant agrees that Sublandlord shall
have no obligation to apply for or to obtain, or to pay any amount in connection
with Subtenant's application for or Subtenant's obtaining, any changes to such
certificate of occupancy.

         (b) Air Conditioner Permit. Subtenant acknowledges that Sublandlord has
not obtained any permits in connection with Sublandlord's installation of the
air conditioning system in the Premises and Subtenant agrees that Sublandlord
shall have no obligation to apply for or to obtain, or to pay any amount in
connection with Subtenant's application for or Subtenant's obtaining, any such
permit(s).

         (c) Public Assembly Permit. Subtenant acknowledges that no public
assembly permit has been issued with respect to the Premises and Subtenant
agrees that Sublandlord shall have no obligation to apply for or to obtain or to
pay any amount in connection with Subtenant's application for or Subtenant's
obtaining, any such public assembly permit.

     10. MASTER LEASE

         (a) Sublease and Master Lease. This Sublease is subject and subordinate
to the Master Lease. Except for those provisions of the Master Lease that
conflict with provisions hereof, except as provided in the last sentence of this
Paragraph 10 and except that in no event shall Subtenant have any grace or other
cure period with respect to defaults in the payment of Rent or of any other
amounts payable under this Sublease, all of the terms, covenants, conditions and
other provisions of the Master Lease (including, without limitation, the terms,
covenants, conditions and other provisions of Paragraph 52 thereof) are
incorporated into this Sublease as the agreement of Sublandlord and Subtenant as
though Sublandlord were Landlord as the landlord under the Master Lease and
Subtenant were Sublandlord as the tenant under the Master Lease (provided that
any references in the Master Lease to any subtenant shall also refer to
Subtenant and any references in Paragraph, 52, 53

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or 69 of the Master Lease to Landlord shall be deemed to be references to both
Landlord and Sublandlord); provided that Subtenant shall make no alterations to
the Premises that would under the Master Lease require the consent of Landlord
without the prior written consent of Landlord and Sublandlord (the consent of
Sublandlord not to be unreasonably withheld). Notwithstanding the foregoing,
provided that Sublandlord promptly gives Subtenant a copy of any notice from
Landlord with respect to any default under the Master Lease that relates to any
action or inaction of Subtenant and advises Subtenant of the date upon which
such notice was given to Sublandlord, then any cure period (if any) afforded
Subtenant with respect to such default shall be deemed to have commenced upon
the date upon which Sublandlord received such notice. Subtenant has received a
copy of the Master Lease and Subtenant represents that it has read and is
familiar with the terms of the Master Lease. Subtenant will not cause or allow
to be caused any default under the Master Lease, and Subtenant will comply with
and perform all applicable terms and conditions of the Master Lease to be
complied with or performed by Sublandlord. References in specific instances
herein to the Master Lease shall not be construed as limiting the generality of
Paragraph 1 hereof or of the first or third sentences of this Paragraph 10.
Without limiting the generality of the exception set forth at the beginning of
the second sentence of this subparagraph (a), the following provisions and parts
of the Master Lease shall not be applicable to this Sublease: Paragraphs 42, 43,
44 (other than the first sentence of such Paragraph 44), 45, 50 (other than
subparagraph 50.12 of such Paragraph 50), 55 or 83 of the Agreement of Lease;
the entire Letter Agreement; and the entire Modification.

         (b) Subtenant's Right to Enforce Master Lease. Except to the extent of
Subtenant's obligation to pay rent hereunder and except as otherwise provided in
subparagraph (b) of Paragraph 7 hereof, and subject to the terms and conditions
of this Sublease, Subtenant shall be entitled to enforce all the rights of the
Sublandlord provided for in the Master Lease, Sublandlord hereby agreeing to
cooperate fully with Subtenant in the enforcement thereof.

         (c) Sublandlord's Compliance with Master Lease. Sublandlord shall not
do any act, matter or thing, or fail to do any act, matter or thing, if such
action or failure to act would result in, or constitute a violation or breach by
Sublandlord as tenant under the Master Lease of or a default under, the Master
Lease or otherwise result in the disturbance of Subtenant's possession of the
Premises.

         (d) Subtenant's Right to Make Payments to Landlord. Provided that
Subtenant is not in default hereunder, in the event that Sublandlord fails to
make

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payments of rent or any other charges due under the Master Lease (unless
Sublandlord shall be permitted under the Master Lease or by law to withhold such
payments of rent or other charges), Subtenant shall be entitled to make any such
payments directly to Landlord and deduct any amounts paid from its Rent and
other charges due under this Sublease.

         (e) Sublandlord's Indemnity in the Event that Subtenant Cures Default
of Subtenant under Master Lease. In the event that the Master Lease would have
been terminated by reason of Sublandlord's default thereunder but for the fact
that Subtenant cured such default, Sublandlord shall indemnify Subtenant and
hold Subtenant harmless from and against all loss, damage or expense incurred by
Subtenant in effecting such cure, including, without limitation, reasonable
attorneys' fees and the additional monies by way of rent or otherwise expended
by Subtenant.

         (f) Termination of Master Lease. In the event that the Master Lease is
terminated, then, as between Sublandlord and Subtenant, this Sublease shall
terminate at the same time without any liability on the part of Sublandlord to
Subtenant.

         (g) Default under Warrant Default Hereunder. In the event that
Subtenant shall default in making any payment referred to in Section 7 of the
Warrant of even date herewith of Subtenant in favor of Sublandlord, then, at the
option of Sublandlord exercisable by notice to such effect given to Subtenant,
such default shall be deemed to be and shall be a payment default by Subtenant
under this Sublease.

         (h) Commercial Rent Tax. Subtenant shall furnish to Sublandlord, upon
the request of Sublandlord, such information and such copies of documents as
Sublandlord may reasonably request in order to permit Sublandlord to receive a
commercial rent tax credit for the commercial rent tax paid by Subtenant.

     11. GUARANTY. The obligations of Subtenant hereunder shall be guaranteed by
guaranty of Jay Chiat, the Chairman and Chief Executive Officer of Subtenant, in
the form of Exhibit D.

     12. CERTAIN DAMAGES; RESTORATION OF PREMISES BY SUBTENANT

         (a) Liquidated Damages upon Failure of Subtenant to Surrender Premises.
In the event that Subtenant were to fail to surrender the Premises in the

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manner provided in this Sublease upon the expiration or earlier termination of
this Sublease, the amount of damages that Sublandlord would suffer would be
difficult or impossible to ascertain. Therefore, the parties agree that in the
event that Subtenant shall fail to surrender the Premises in the manner provided
in this Sublease upon the expiration or earlier termination of this Sublease,
then Subtenant shall pay to Sublandlord for each day on which Subtenant occupies
the Premises after the expiration or earlier termination of this Sublease, as
liquidated damages and in addition to any Additional Rent payable with respect
to such period, Base Rent at a rate equal to twice the per diem rate at which
Base Rent was payable on the day upon which the expiration or earlier
termination of this Sublease occurred. The parties hereto acknowledge and agree
that the liquidated damages provided for in this subparagraph represent a
reasonable estimate by the parties of the damages that would be suffered by
Sublandlord were Subtenant to fail to surrender the Premises in the manner
provided in this Sublease upon the expiration or earlier termination of this
Sublease and that they do not constitute a penalty. Nothing in this subparagraph
shall limit any other damages to which Sublandlord may be entitled in respect of
any breach of any term or provision of this Sublease by Subtenant.

         (b) Reimbursement of Costs of Enforcement. Without limiting the
generality of Paragraph 52 of the Master Lease, Subtenant shall reimburse
Sublandlord for all legal fees and disbursements incurred by Sublandlord in
enforcing any provision of this Sublease. Sublandlord shall reimburse Subtenant
for all legal fees and disbursements incurred by Subtenant in enforcing any
provision of this Sublease.

         (c) Restoration of Premises by Subtenant. In the event that Subtenant
shall close off or otherwise alter the door or doorway to the Premises or shall
alter or remove the demising wall between the Premises and the premises that
Subtenant presently occupies in the Building (which shall be subject to the
consent of Sublandlord and Landlord), then, prior to its surrender of the
Premises (whether upon the expiration or earlier termination of this Sublease),
Subtenant shall, in addition to taking any action required to be taken by
Subtenant under Paragraph 3 of the Master Lease, restore such door and doorway
and such demising wall to the condition they were in on the Commencement Date.

     13. BROKER. Each party represents and warrants to the other that in
connection with the transactions contemplated by this Sublease it did not deal
directly or indirectly with any broker or finder, the representation and
warranty in this sentence to survive the expiration or earlier termination of
this Sublease. Each

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party hereby indemnifies the other and holds the other harmless from and against
any and all damages, costs, losses, liabilities or expenses arising out of or
related to claims arising out of any breach of the representation contained in
this Paragraph 13, such indemnity and hold harmless to include, without
limitation, the obligation to provide all costs of defense against any such
claims.

     14. ASSIGNMENT

         (a) Prohibition against Assignment or Subletting by Subtenant.
Subtenant will not, without the prior written consent of Sublandlord and the
prior written consent of Landlord, assign this Sublease or further sublet the
Sublet Premises in whole or in part; nor will Subtenant permit Subtenant's
interest in this Sublease to be vested in any third party by operation of law or
otherwise. Without limiting the generality of the foregoing or of Paragraphs 1
and 10 hereof, Subtenant acknowledges that, in the event that Sublandlord and
Landlord shall consent to any assignment hereof or further subletting of the
Sublet Premises, such assignment or further subletting shall be subject to the
terms and provisions of the Master Lease.

         (b) Sublandlord's Assignment of this Sublease. Sublandlord shall be
permitted to assign this Sublease provided that prior to any assignment hereof
the assignee hereof delivers to Subtenant an instrument whereby such assignee
(i) agrees to recognize Subtenant's rights hereunder and (ii) expressly assumes
all of Sublandlord's obligations hereunder. In connection with such assignment,
Sublandlord and any assignee of this Sublease shall, with respect to the
security deposit deposited with Sublandlord hereunder, comply with the
provisions of Section 7-105 of the General Obligations Law regarding transfers
of security deposits.

         (c) Sublandlord Released upon Assignment. In the event that Sublandlord
shall surrender or otherwise voluntarily terminate the Master Lease, or shall
assign this Sublease in compliance with subparagraph (b) of this Paragraph 14,
then Sublandlord shall have no further duties or obligations whatsoever
hereunder, and Landlord or the assignee hereof shall for all purposes be the
Sublandlord hereunder.

     15. MERGER; AMENDMENT. All prior understandings and agreements between
Sublandlord and Subtenant are merged within this Sublease, which fully and
completely sets forth their understanding. This Sublease may not be changed or
terminated orally or in any other manner than by an agreement in writing signed
by the party against which enforcement of the change or termination is sought.
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     16. NOTICES

         (a) Manner of Giving Notices. Any notice required or permitted to be
given hereunder shall be in writing and may be given by telecopier, by certified
mail, return receipt requested, or by personal delivery (including by reputable
overnight courier service such as Federal Express). Any notice given by
telecopier shall be deemed given when confirmation of transmission has been
received, provided that if such notice is transmitted at any time other than
during Normal Business Hours (as such term is defined below) such notice shall
be deemed given at the next commencement of Normal Business Hours. Any notice
given by certified mail, return receipt requested, shall be deemed given on the
fourth (4th) day after the date upon which it is mailed, postage paid. Any
notice given by personal delivery shall be deemed given when delivered, provided
that if such notice is delivered at any time other than during Normal Business
Hours such notice shall be deemed given at the next commencement of Normal
Business Hours. As used in this Paragraph 16, the term "Normal Business Hours"
means the hours between 9:00 a.m. and 4:30 p.m. in the time zone covering the
recipient's address as set forth below, Monday through Friday, exclusive of any
day that is not a Business Day (the term "Business Day" meaning any day other
than a day when banks in the State of New York are required or permitted to be
closed). Any notice given hereunder shall be given to Sublandlord or Subtenant,
as the case may be, at the following address or telecopier number (and whether
to an address or a telecopier number, to the attention of the person indicated):

                  If to Sublandlord:

                           Tomar Studios, Inc.
                           601 West 26th Street
                           13th Floor
                           New York, New York 10001
                           Attn.:   Tom Marrazza
                                    President
                           Telecopier:      (212) 627-1987

                  and from and after the Commencement Date:

                           Tomar Studios, Inc.
                           c/o Tom Marrazza

<PAGE>   14

                           1 Irving Place
                           Apartment V9A
                           New York, New York 10003

                  with a copy to:

                           Terrence M. Bennett
                           Bennett & Samios, LLP
                           845 Third Avenue - 21st Floor
                           New York, New York 10022
                           Telecopier:  (212) 753-6262

                  If to Subtenant:

                           Screaming Media.com, Inc.
                           601 West 26th Street
                           New York, New York 10001
                           Attn.:   William P. Kelly
                                    General Counsel
                           Telecopier:  (212) 422-1761

                  with a copy to:

                           Alan J. Bernstein, Esq.
                           Carter, Ledyard & Milburn
                           2 Wall Street
                           New York, New York 10005
                           Telecopier:  (212) 732-3232

         (b) Change of Address for Notices. Either party may change its address
for notices as set forth above by notice to such effect to the other party given
in the manner provided in subsection (a) of this Paragraph 16.

         (c) Forwarding Copies of Notices from Landlord. Subtenant shall
promptly give Sublandlord written notice, and a copy, of any notices served by
Landlord upon Subtenant pursuant to the terms, conditions and provisions of the
Master Lease. Sublandlord shall promptly give Subtenant written notice, and a
copy, of any notice of default served by the Landlord upon Sublandlord pursuant
to the terms, provisions and conditions of the Master Lease. Sublandlord shall
promptly

<PAGE>   15

forward to Subtenant any notices of changes in the building rules (as set forth
in the Master Lease), unless at the time that Sublandlord receives any such
notice Subtenant shall be in possession of premises in the Building other than
the Premises.

     17. GOVERNING LAW. This Sublease shall be governed by and construed in
accordance with the law of the State of New York applicable to agreements made
and to be performed wholly within the State of New York.

     18. SUBMISSION TO JURISDICTION. The parties hereto agree that any action or
proceeding arising out of or relating to this Sublease shall be brought only in
a federal court sitting in New York City or a New York State court sitting in
New York City, and each of the parties hereto submits to the jurisdiction of any
such court in the event that such any such action or proceeding shall be
brought. Each of the parties hereto agrees that all claims in respect of any
such action or proceeding may be heard and determined in any such court and
waives any objection that it may now or hereafter have as to the venue of any
such action or proceeding brought in any such court or that any such court is an
inconvenient forum. Each of the parties hereto consents to the service of
process upon it in any such action or proceeding in any such court by the
mailing of copies of such process to it, by certified or registered mail, return
receipt requested, at its address specified in Paragraph 16.

     19. BINDING EFFECT. Without limiting the effect of Paragraph 14 hereof, the
covenants and agreements in this Sublease shall bind and inure to the benefit of
Sublandlord and Subtenant and their successors and assigns.

         IN WITNESS WHEREOF, Sublandlord and Subtenant have executed this
Sublease as of on the date first written above.

                                            TOMAR STUDIOS, INC.

/s/ Terrence Bennett                        By:  /s/ Tom Marrazza
______________________________                   ____________________________
Witness                                          Tom Marrazza
Print Name:  Terrence Bennett                    President

                                                        SCREAMING MEDIA.COM INC.
<PAGE>   16

/s/ William P. Kelly                              /s/ Jay Chiat
_____________________________               By:______________________________
Witness                                           Jay Chiat
Print Name: William P. Kelly                      Chairman

<PAGE>   17

                                                                       Exhibit A

                              Copy of Master Lease<PAGE>   1

                                                                 Exhibit 10.6

THESE SECURITIES HAVE BEEN ISSUED PURSUANT TO EXEMPTIONS FOR NONPUBLIC
OFFERINGS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OF 1933, AS
AMENDED, AND APPLICABLE STATE SECURITIES LAWS, AND, ACCORDINGLY, MAY NOT BE
RESOLD OR OTHERWISE DISPOSED OF UNLESS, IN THE OPINION OF COUNSEL FOR OR
SATISFACTORY TO THE ISSUER, REGISTRATION UNDER THE APPLICABLE FEDERAL OR STATE
SECURITIES LAWS IS NOT REQUIRED OR COMPLIANCE IS MADE WITH SUCH REGISTRATION
REQUIREMENTS.

              Void after 5:00 p.m. New York Time, on June 7, 2004.

                        WARRANT TO PURCHASE COMMON STOCK

                           SCREAMING MEDIA.NET, INC.

     This is to certify that, FOR VALUE RECEIVED, DEUTSCHE BANK SECURITIES,
INC. or  its registered assigns pursuant to Section 4 hereof (the "Holder"), is
entitled to purchase, subject to the provisions of this Warrant, from SCREAMING
MEDIA.NET, INC., a Delaware corporation (the "Company"), ONE HUNDRED TWENTY
THOUSAND FIVE HUNDRED THIRTY-FIVE (120,535) fully paid, validly issued and
non-assessable shares of the Company's Common Stock, par value $.01 per share
("Common Stock"), at the exercise price of $11.20 per share until June 7, 2004.
The number of shares of Common Stock to be received upon the exercise of this
Warrant and the price to be paid for each share of Common Stock may be adjusted
from time to time as hereinafter set forth. The shares of Common Stock
deliverable upon such exercise, and as adjusted from time to time, are
hereinafter sometimes referred to as "Warrant Shares," and the exercise price
of a share of Common Stock as adjusted from time to time is hereinafter
sometimes referred to as the "Exercise Price."

     1.   EXERCISE OF WARRANT; NOTIFICATION OF EXPIRATION DATE OF WARRANT. The
Warrant may be exercised as to a minimum of 1,000 Warrant Shares, at any time
or from time to time, until 5:00 p.m. New York City time on June 7, 2004 (the
"Expiration Date"), provided, however, that if such day is a day on which
banking institutions in the State of New York are authorized by law to close,
then on the next succeeding day which shall not be such a day. The Warrant may
be exercised by presentation and surrender hereof to the Company at its
principal office, or at the office of its stock transfer agent, if any, with
the Purchase Form annexed hereto duly executed (with signature guaranteed if
required by the Company or its stock transfer agent) and accompanied by payment
of the Exercise Price for the number of Warrant Shares specified in such form
and any applicable taxes. The purchase price for any Warrant Shares purchased
pursuant to the exercise of this Warrant shall be paid in full upon such
exercise in cash or by certified or bank check or pursuant to a cashless
exercise procedure whereby the Warrant Shares
<PAGE>   2
issued upon exercise of this Warrant will be sold with the Holder receiving the
difference between the aggregate Exercise Price and the aggregate sale price, in
cash, and the Company receiving the aggregate Exercise Price for the Warrant
Shares, in cash, or any combination of the foregoing methods of paying the
Exercise Price. In the alternative, the Warrant may be exchanged for Warrant
Shares as described herein. As soon as practicable after each such exercise of
this Warrant, but not later than seven business days from the date of such
exercise, the Company shall issue and deliver to the Holder a certificate or
certificates for the Warrant Shares issuable upon such exercise, registered in
the name of the Holder or the Holder's designee (except in the case of a
cashless exercise). If the Warrant should be exercised in part only, the Company
shall, upon surrender of the Warrant for cancellation, execute and deliver a new
Warrant evidencing the rights of the Holder thereof to purchase the balance of
the Warrant Shares purchasable thereunder. In the event of a cash exercise, upon
receipt by the Company of the Warrant at its office, or by the stock transfer
agent of the Company at its office, in proper form for exercise, together with
the exercise price thereof and taxes as aforesaid in cash or certified or bank
check and the investment letter described below, the Holder shall be deemed to
be the holder of record of the shares of Common Stock issuable upon such
exercise, notwithstanding that the stock transfer books of the Company shall
then be closed or that certificates representing such shares of Common Stock
shall not then be physically delivered to the Holder. In order to assure the
availability of an exemption from registration under the federal or applicable
state securities laws, the Company may condition the exercise of the Warrant
upon the Holder delivering to the Company an investment letter in the form as
customarily used by the Company from time to time in connection with the
exercise of non-registered options and warrants that are issued by the Company.
It is further understood that certificates for the Warrant Shares, if any, to be
issued upon exercise of the Warrant may contain a restrictive legend in
accordance with Section 9 hereof.

          Notwithstanding anything herein to the contrary, the Company shall
mail to the Holder, by certified mail, return receipt requested, notice of the
Expiration Date of the Warrant, no later than 60 days prior to the Expiration
Date. To the extent the Company shall fail to send the required notice at the
time and in the manner set forth in the preceding sentence, the Expiration Date
of the Warrant shall be extended to a date 60 days following the date that a
written notice of the Expiration Date of the Warrant from the Company is
received by the Holder.

          2.   Reservation of Shares.  The Company shall at all times reserve
for issuance and/or delivery upon exercise of this Warrant such number of shares
of its Common Stock as shall be required for issuance and delivery upon exercise
hereof. If at any time the number of authorized but unissued shares of Common
Stock shall not be sufficient to effect such exercise, the Company shall take
such corporate action as may be necessary to increase its authorized but
unissued shares of Common Stock to such number of shares as shall be sufficient
for such purpose. If the Common Stock is or becomes listed on any national
securities exchange or Nasdaq, the Company shall also cause such shares to be
listed on such exchange subject to notice of issuance or maintain the listing of
its Common Stock on Nasdaq, as the case may be.
<PAGE>   3

          3.    Fractional Shares. No fractional shares or scrip representing
fractional shares shall be issued upon exercise of this Warrant. With respect to
any fraction of a share called for upon any exercise hereof, the Company shall
pay to the Holder an amount in cash equal to such fraction multiplied by the
current market value of a share, determined as follows:

          (i)   if the Common Stock is listed on a national securities exchange
     or admitted to unlisted trading privileges on such exchange or listed for
     trading on Nasdaq, the current market value shall be the last reported sale
     price of the Common Stock on such exchange or system on the last business
     day prior to the date of exercise of this Warrant, or if no such sale is
     made on such day, the average closing bid and asked prices for such day on
     such exchange or system;

          (ii)  if the Common Stock is not so listed or admitted to unlisted
     trading privileges, the current market value shall be the mean of the last
     reported bid and asked prices reported by the National Quotation Bureau,
     Inc. on the last business day prior to the date of the exercise of this
     Warrant; or

          (iii) if the Common Stock is not so listed or admitted to unlisted
     trading privileges and bid and asked prices are not so reported, the
     current market value shall be an amount, not less than the book value
     thereof as at the end of the most recent fiscal year of the Company ending
     prior to the date of the exercise of the Warrant, determined in such
     reasonable manner as may be prescribed by the Board of Directors of the
     Company.

          4.    Exchange, Transfer, Assignment or Loss of Warrant. The Warrant
is exchangeable, without expense, at the option of the Holder, upon
presentation and surrender hereof to the Company or at the office of its stock
transfer agent, if any, for other Warrants of different denominations entitling
the Holder thereof to purchase in the aggregate the same number of shares of
Common Stock purchasable hereunder. Subject to Section 9 hereof, the Holder may
transfer or assign the Warrant, in whole or in part and from time to time. Upon
surrender of this Warrant to the Company at its principal office or at the
office of its stock transfer agent, if any, with the Assignment Form annexed
hereto duly executed (with signature guaranteed, if required by the Company or
its stock transfer agent) and funds sufficient to pay any transfer tax, the
Company shall, without charge, execute and deliver a new Warrant in the name of
the assignee or assignees named in such instrument of assignment, and this
Warrant shall promptly be canceled. This Warrant may be divided by or combined
with other Warrants that carry the same rights upon presentation hereof at the
principal office of the Company or at the office of its stock transfer agent,
if any, together with a written notice specifying the names and denominations
in which new Warrants are to be issued, which notice shall be signed by the
Holder hereof. The term "Warrant" as used herein includes any Warrants into
which this Warrant may be divided or exchanged. Upon receipt by the Company of
evidence satisfactory to it of the loss, theft, destruction or mutilation of
this Warrant, and in the case of loss, theft or destruction, of reasonable
satisfactory indemnification, and upon surrender and cancellation of this
Warrant, if mutilated, the Company will execute and deliver a new Warrant of
like tenor, date and amount. Any such new Warrant executed and delivered shall
constitute an additional

<PAGE>   4
contractual obligation on the part of the Company, whether or not the original
Warrant shall be at any time enforceable by anyone.

     5.   Rights of the Holder.  The Holder shall not, by virtue hereof, be
entitled to any rights of a stockholder in the Company, either at law or
equity, and the rights of the Holder are limited to those expressed in the
Warrant and are not enforceable against the Company except to the extent set
forth herein.

     6.   Adjustment of Exercise Price and/or Number of Warrant Shares.  So long
as this Warrant shall be outstanding, the Exercise Price in effect at any time
and the number and kind of securities purchasable upon the exercise hereof
shall be subject to adjustment from time to time upon the happening of certain
events as set forth in this Section 6.

     (a)  Upon the happening of any of (i) the issuance of additional shares
of Common Stock as a dividend or other distribution with respect to outstanding
shares of Common Stock, (ii) the subdivision of outstanding shares of Common
Stock into a greater number of shares of Common Stock, or (iii) the combination
of outstanding shares of Common Stock into a smaller number of shares of Common
Stock, in each case whether by reclassification of shares of Common Stock,
recapitalization of the Company or otherwise (each an "Extraordinary Common
Stock Event"), the Exercise Price shall, simultaneously with the happening of
such Extraordinary Common Stock Event, be adjusted by multiplying the
then-applicable Exercise Price by a fraction, the numerator of which shall be
the number of shares of the Common Stock outstanding immediately prior to such
Extraordinary Common Stock Event and the denominator of which shall be the
number of shares of Common Stock outstanding immediately after such
Extraordinary Common Stock Event. The Exercise Price, as so adjusted, shall be
readjusted in the same manner upon the happening of any successive
Extraordinary Common Stock Event or Events. Whenever the Exercise Price payable
upon exercise of this Warrant is adjusted as provided in this paragraph, the
number of Warrant Shares purchasable upon exercise of the Warrant shall
simultaneously be adjusted to the number obtained by multiplying the number of
Warrant Shares issuable upon exercise of this Warrant by the Exercise Price
in effect on the date hereof and dividing the product so obtained by the
Exercise Price, as adjusted pursuant hereto.

     (b)  In  the event that the Exercise Price is increased above the Exercise
Price in effect on the date hereof for any reason (other than as contemplated
by paragraph (a) above), the number of Warrant Shares purchasable upon the
exercise hereof shall be increased to a number such that (i) the product of (x)
such number multiplied by (y) the difference between the fair market value of a
share of Common Stock and the Exercise Price (as so adjusted) is equal to (ii)
the product of (x) the number of Warrant Shares purchasable upon the exercise
hereof (without giving effect to such increase) multiplied by (y) the
difference between the fair market value of a share of Common Stock and the
Exercise Price in effect immediately prior to such increase. Such adjustment of
the number of Warrant Shares purchasable upon the exercise hereof shall be
effective as of the date of such increase in the Exercise Price.

     (c)  Whenever the number of shares of Common Stock with respect to which
this Warrant is exercisable is adjusted as provided in this Section 6, the
Corporation shall

<PAGE>   5

promptly mail to the Holder at its address, as the same shall appear on the
books of the Company, a notice stating that the number of shares of Common
Stock with respect to which this Warrant is exercisable has been adjusted and
setting forth the new number of shares of Common Stock (or describing the new
stock, securities, cash or other property) with respect to which this Warrant
is exercisable as a result of such adjustment, a brief statement of the facts
requiring such adjustment and the computation thereof, and when such adjustment
became effective.

     (d)  All calculations under this Section 6 shall be made to the nearest
cent or to the nearest Warrant Share, as the case may be.

     (e)  In the event that at any time, as a result of an adjustment made
pursuant to this Section 6, the Holder of this Warrant thereafter shall become
entitled to receive any shares of the Company other than Common Stock,
thereafter the number of such other shares so receivable upon exercise of this
Warrant shall be subject to adjustment from time to time in a manner and on
terms as nearly equivalent as practicable to the provisions with respect to the
Common Stock contained herein.

     (f)  Irrespective of any adjustments in the Exercise Price or the number
or kind of Warrant Shares purchasable upon exercise of this Warrant, this
Warrant and any Warrant thereafter issued may continue to express the same
price and number and kind of shares as are initially stated herein upon its
issuance.

     7.   Notices to Warrant Holders. So long as this Warrant shall be
outstanding, (i) if the Company shall pay any dividend or make any distribution
upon the Common Stock, or (ii) if the Company shall offer to the holders of
Common Stock for subscription or purchase by them any shares of any class or any
other rights, or (iii) if any capital reorganization of the Company,
reclassification of the capital stock of the Company, consolidation or merger
of the Company with or into another corporation, sale, lease or exchange of all
or substantially all of the property and assets of the Company in one
transaction or as a part of a series of related transactions, or voluntary or
involuntary dissolution, liquidation or winding-up of the Company shall be
effected, then in any such case, the Company shall cause to be mailed by
certified mail to the Holder, at least 20 days prior to the date specified in
clause (x) or clause (y) below, as the case may be, a notice containing a brief
description of the proposed action and stating the date on which (x) a record is
to be taken for the purpose of such dividend, distribution or rights, or (y)
such reclassification, reorganization, consolidation, merger, conveyance,
lease, dissolution, liquidation or winding-up is to take place and the date, if
any is to be fixed, as of which the holders of Common Stock or other securities
shall receive cash or other property deliverable upon such reclassification,
reorganization, consolidation, merger, conveyance, dissolution, liquidation or
winding-up.

     8.   Reclassification, Reorganization or Merger. (a) If the shares of
Common Stock issuable upon the exercise of this Warrant shall be changed into
the same or a different number of shares of any other class or classes or
series of capital stock of the Company, whether by recapitalization,
reclassification or otherwise (other than pursuant to a merger, consolidation,
share exchange, or sale, lease, exchange or transfer of property and assets
described in paragraph

<PAGE>   6
(b) below), then, and in each such event, the holder hereof shall have the right
thereafter to exercise this Warrant with respect to the kind and amount of
shares of capital stock and other securities and property receivable upon such
reorganization, reclassification or other change by holders of the number of
shares of the Common Stock with respect to which this Warrant could have been
exercised immediately prior to such recapitalization, reclassification or other
change. No adjustments or provision for adjustments shall be made with respect
to the Exercise Price as a result of any of the events described in this
paragraph (a). The provisions of this paragraph (a) shall apply similarly to any
successive event of a type described in this paragraph.

          (b) If, at any time or from time to time, the Company shall be a party
to a merger or consolidation of the Company with or into another person, then,
as a condition to the consummation of such transaction, adequate provision shall
be made so that the holder shall thereafter be entitled to purchase upon
exercise of this Warrant (x) the number of shares of capital stock or other
securities or property of the Company, or of the successor corporation,
resulting from such merger or consolidation, that would have been received by
such holder had this Warrant been exercised with respect to shares of Common
Stock immediately prior to the consummation of such transaction multiplied by
(y) the number of shares of Common Stock with respect to which this Warrant
could have been exercised immediately prior to the consummation of such
transaction. Except as provided in Section 6, no adjustments or provision for
adjustments shall be made with respect to the Exercise Price as a result of any
of the events described in this paragraph (b). The provisions of this paragraph
(b) shall apply similarly to any successive event of a type described in this
paragraph.

          9.   Securities Law Compliance.   (a) The Holder of this Warrant, by
acceptance hereof, acknowledges that the Warrant and the shares of Common Stock
to be issued upon exercise hereof or conversion thereof are being acquired
solely for the Holder's own account and not as a nominee for any other party,
and for investment, and that the Holder will not offer, sell, transfer, assign
or otherwise dispose of this Warrant or any shares of Common Stock to be issued
upon exercise hereof or conversion thereof except under circumstances that will
not result in a violation of the Act or any state securities laws. Upon exercise
of the Warrant, the Holder shall, if requested by the Company, confirm in
writing, in a form satisfactory to the Company, that the shares of Common Stock
so purchased are being acquired solely for the Holder's own account and not as a
nominee for any other party, for investment, and not with a view toward
distribution or resale.

          (b)  If appropriate, the Warrant and any Warrants issued upon exercise
or substitution or upon assignment or transfer as provided herein and all shares
of Common Stock issued upon exercise hereof shall be stamped or imprinted with
legends setting forth the restrictions on transfer arising under applicable
federal and state securities laws.

          10.  Registration Rights.  (a) Commencing the date hereof, the Company
shall advise the Holder of this Warrant and any Warrant Shares by written notice
at least 21 days prior to the filing of any registration statement or
post-effective amendment thereto ("Registration Statement") under the Securities
Act of 1933, as amended (the "Securities Act"), covering an underwritten public
offering of equity securities of the Company and shall register in
<PAGE>   7
any such Registration Statement the number of Warrant Shares that the Holder
shall notify the Company it desires to register and shall include in any such
Registration Statement such information as may be required to permit a public
offering of such Warrant Shares by the Company's underwriter(s). The Company
shall supply prospectuses and other documents as the Holder may reasonably
request in order to facilitate the public sale or other disposition of such
Warrant Shares. The Company shall bear the entire cost and expense of a
registration of securities initiated by it under this paragraph (a). The Holder
shall, however, bear the fees of its own counsel and any transfer taxes and
underwriting discounts or commissions applicable to the Warrant Shares sold by
it. The Company may include other securities in any such registration statement.
The Company shall do any and all other acts and things which may be necessary or
desirable to enable the Holder to consummate the public sale or other
disposition of the Warrant Shares, and furnish indemnification in the manner as
set forth in paragraph (b)(i) of this Section 10, but shall not be required to
qualify as a foreign corporation to qualify the Warrant Shares for sale under
the securities laws of any state. The Holder shall furnish information and
indemnification as set forth in paragraph (b)(ii) of this Section 10. All
decisions as to whether and when to proceed with any Registration Statement
shall be made solely by the Company.

     Notwithstanding the foregoing paragraph, in the event that there is an
underwritten offering of the Company's securities offered pursuant to said
registration statement pursuant to the immediately preceding paragraph, the
underwriter(s) shall have the right to refuse to permit any Warrant Shares, or
to limit the amount of Warrant Shares, to be sold by the Holder to such
underwriter(s) on the same basis as other holders of piggyback or other similar
registration rights with respect to Common Stock, and the Holder shall refrain
from selling such remainder of its Warrant Shares covered by such registration
statement for the period of 90 days immediately following the effective date and
shall also refrain at any time when notified by the Company that an amendment or
supplement to the prospectus is required. The Company shall not be obligated to
keep any Registration Statement effective for a total of more than 180 days.

     (b)(i) In the event of any registration of any securities of the Company
under the Securities Act, the Company shall indemnify and hold harmless each
Holder selling Warrant Shares, its officers and directors, each underwriter,
broker or any other person acting on behalf of such seller and each other
person, if any, who controls any of the foregoing persons within the meaning of
the Securities Act against any losses, claims, damages or liabilities, joint or
several, to which such seller or any such director or officer or underwriter or
controlling person may become subject under the Securities Act or otherwise,
insofar as such losses, claims, damages or liabilities (or actions or
proceedings, whether commenced or threatened, in respect thereof) arise out of
or are based upon any untrue statement or alleged untrue statement of any
material fact contained in any registration statement under which such
securities were registered under the Securities Act, any preliminary prospectus,
final prospectus or summary prospectus contained therein, or any amendment or
supplement thereto or any document incident to registration or qualification of
any Warrant Shares or arise out of or are based upon the omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading or, with respect to any
prospectus, necessary to make the statements therein in light of the
circumstances under which they were made not misleading, or any violation by the
Company of the Securities Act or state securities or blue sky laws applicable
<PAGE>   8
to the Company and relating to action or inaction required of the Company in
connection with such registration or qualification under such state securities
or blue sky laws; and the Company will reimburse such seller and each such
director, officer, underwriter and controlling person for any legal or any other
expenses reasonably incurred by them in connection with investigating or
defending any such loss, claim, liability, action or proceeding; provided that
the Company shall not be liable in any such case to the extent that any such
loss, claim, damage, liability (or action or proceeding in respect thereof) or
expense arises out of or is based upon an untrue statement or alleged untrue
statement or omission or alleged omission made in such registration statement,
any such preliminary prospectus, final prospectus, summary prospectus, amendment
or supplement in reliance upon and in conformity with written information
furnished to the Company through an instrument duly executed by such seller,
specifically stating that it is for use in the preparation thereof and, provided
further, that the Company shall not be liable to any person who participates as
an underwriter in the offering or sale of Warrant Shares or any other person, if
any, who controls such underwriter within the meaning of the Securities Act, in
any such case to the extent that any such loss, claim, damage, liability (or
action or proceeding in respect thereof) or expense arises out of such person's
failure to send or give a copy of the final prospectus, as the same may be then
supplemented or amended, to the person asserting an untrue statement or alleged
untrue statement or omission or alleged omission at or prior to the written
confirmation of the sale of Registrable Securities and/or the Common Stock to
such person if such statement or omission was corrected in such final
prospectus. Such indemnity shall remain in full force and effect regardless of
any investigation made by or on behalf of such seller or any such director,
officer, underwriter or controlling person and shall survive the transfer of
such securities by such seller.

     (ii) The Company may require, as a condition to including any Warrant
Shares in any Registration Statement, that the Company shall have received an
undertaking satisfactory to it from the prospective sellers of such securities,
to indemnify and hold harmless (in the same manner and to the same extent as set
forth in subparagraph (ii)) the Company, each director of the Company, each
officer of the Company and each other person, if any, who controls the Company
within the meaning of the Securities Act, with respect to any statement or
alleged statement in or omission or alleged omission from such registration
statement, any preliminary prospectus, final prospectus or summary prospectus
contained therein, or any amendment or supplement thereto, if such statement or
alleged statement or omission or alleged omission was made in reliance upon and
in conformity with written information furnished to the Company through an
instrument duly executed by such sellers specifically stating that it is for use
in the preparation of such registration statement, preliminary prospectus, final
prospectus, summary prospectus, amendment or supplement, provided that the
obligation to indemnify shall be several, and not joint and several, among such
sellers of and the liability of each such seller shall be in proportion to and
limited to the net amount received by such seller from the sale of Warrant
Shares pursuant to such registration statement. Such indemnity shall remain in
full force and effect, regardless of any investigation made by or on behalf of
the Company or any such director, officer or controlling person and shall
survive the transfer of such securities by such seller.

     (iii) Promptly after receipt by an indemnified party of notice of the
commencement of any action or proceeding involving a claim referred to in the
preceding
<PAGE>   9
subdivisions of this paragraph (b), such indemnified party will, if a claim in
respect thereof is to be made against an indemnifying party, give written notice
to the latter of the commencement of such action, provided that the failure of
any indemnified party to give notice as provided herein shall not relieve the
indemnifying party of its obligations under the preceding subdivisions of this
paragraph (b), except to the extent that the indemnifying party is actually
prejudiced by such failure to give notice. In case any such action is brought
against an indemnified party, unless in such indemnified party's reasonable
judgement a conflict of interest between such indemnified and indemnifying
parties may exist in respect of such claim, the indemnifying party shall be
entitled to participate in and to assume the defense thereof, jointly with any
other indemnifying party similarly notified to the extent that it may wish, with
counsel reasonably satisfactory to such indemnified party, and alter notice from
the indemnifying party to such indemnified party of its election so to assume
the defense thereof, the indemnifying party shall not be liable for any
settlement made by the indemnified party without its consent (which consent will
not be unreasonably withheld) or for any legal or other expenses subsequently
incurred by the indemnified party in connection with the defense thereof other
than reasonable costs of investigation. No indemnifying party shall, without the
consent of the indemnified party, consent to entry of any judgement or enter
into any settlement which does not include as an unconditional term thereof the
giving by the claimant or plaintiff to such indemnified party of a release from
all liability in respect to such claim or litigation.

          (iv) Indemnification similar to that specified in the preceding
subdivisions of this paragraph (b) (with appropriate modifications) shall be
given by the Company and each seller of Warrant Shares with respect to any
required registration or other qualification of securities under any federal or
state law or regulation of any governmental authority other than the Securities
Act.

          (v) The indemnification required by this paragraph (b) shall be made
by periodic payments of the amount thereof during the course of the
investigation or defense, as and when bills are received or expense, loss,
damage or liability is incurred.

          (c) If the indemnification provided for herein shall for any reason be
unavailable or insufficient to an indemnified party under paragraph (b) hereof
in respect of any loss, claim, damage or liability, or any action in respect
thereof, or referred to therein, then each indemnifying party shall, in lieu of
indemnifying such party, contribute to the amount paid or payable by such
indemnified party as a result of such loss, claim, damage or liability, or
action in respect thereof, in such proportion as shall be appropriate to reflect
(i) the relative benefits received by the Company, on the one hand, and the
holders of the Warrant Shares included in the offering, on the other hand, from
the offering of the Warrant Shares and (ii) the relative fault of the Company,
on the one hand, and the holders of the Warrant Shares included in offering, on
the other hand, with respect to the statements or omissions which resulted in
such loss, claim, damage or liability, or action in respect thereof, as well as
any other relevant equitable considerations. The relative benefits received by
the Company, on the one hand and the holders of the Warrant Shares, on the other
hand, with respect to such offering shall be deemed to be in the same proportion
as the sum of the total Exercise Price paid to the Company in respect of the
Warrant Shares plus the total net proceeds from the offering of the securities
(before deducting expenses) received by the Company bears to the amount by which
the total net proceeds from the
<PAGE>   10
offering of the securities (before deducting expenses) received by the holders
of the Warrant Shares with respect to such offering exceeds the Subscription
Price paid to the Company in respect of the Warrant Shares and in each case the
net proceeds received from such offering shall be determined as set forth on
the table of the cover page of the prospectus. The relative fault shall be
determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or omission or alleged omission to state a
material fact relates to information supplied by the Company or the holders of
the Warrant Shares, the intent of the parties and their relative knowledge,
access to information and opportunity to correct or prevent such statement or
omission. The Company and the holders of the Warrant Shares agree that it would
not be just and equitable if contribution pursuant to this paragraph (c) were
to be determined by pro rata allocation or by any other method of allocation
which does not take into account the equitable considerations referred to
herein. The amount paid or payable by an indemnified party as a result of the
loss, claim, damage or liability, or action in respect thereof, referred to in
this paragraph (c) shall be deemed to include, for purposes of this paragraph,
any legal or other expenses reasonably incurred by such indemnified party in
connection with investigating or defending any such action or claim. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any person who was
not guilty of such fraudulent misrepresentation.

     (d) The Company shall not effect or permit to occur any combination or
subdivision of shares which would adversely affect the ability of the holders
of Warrant Shares to include such Warrant Shares in any registration of its
securities contemplated by this Section 10 or the marketability of such
Warrant Shares under any such registration.

     (e) If the Company shall have filed a registration statement pursuant to
the requirements of Section 12 of the Exchange Act or a registration statement
pursuant to the requirements of the Securities Act, the Company shall file the
reports required to be filed by it under the Securities Act and the Exchange
Act (or, if the Company is not required to file such reports, shall, upon the
request of any holder of Warrant Shares, make publicly available other
information) and shall take such further action as any holder of Warrant Shares
may reasonably request, all to the extent required from time to time to enable
such holder to sell such holder's securities without registration under the
Securities Act but within the limitations of the exemptions provided by (i) Rule
144, or (ii) any similar rule or regulation hereafter adopted by the
Commission. Upon the request of any Holder, the Company shall deliver to such
holder a written statement as to whether it has complied with such requirements.

     11. Right to Convert Warrant into Common Stock. (a) The Holder shall have
the right to require the Company to convert this Warrant provided in this
Section 11, into Common Stock (the "Net Conversion Right"). Upon exercise of
the Net Conversion Right, the Company shall deliver to the Holder (without
payment by the Holder of any Exercise Price or of any other cash or
consideration) that number of shares of Common Stock equal to the quotient
obtained by dividing (x) the value of this Warrant (determined by multiplying
(A) the number of Warrant Shares issuable upon exercise in full of this Warrant
by (B) the difference between the fair market value of a share of Common Stock
and the Exercise Price then in effect) at the time the Conversion Right is
exercised (determined by subtracting the aggregate Exercise Price in
<PAGE>   11
effect immediately prior to the exercise of the Conversion Right from the
aggregate fair market value of the shares of Common Stock issuable upon
exercise of this Warrant immediately prior to the exercise of the Conversion
Right) by (y) the fair market value of one share of Common Stock immediately
prior to the exercise of the Conversion Right.

     (b) The Net Conversion Right may be exercised by the Holder by the
surrender of this Warrant at the principal office of the Company together with
a written statement specifying that the Holder thereby intends to exercise the
Net Conversion Right. Certificates for the shares of Common Stock issuable upon
exercise of the Net Conversion Right shall be delivered to the Holder within
five days following the Company's receipt of this Warrant together with the
aforesaid written statement.

     (c) For purposes of this Section, fair market value of a share of Common
Stock as of a particular date (the "Determination Date") shall be determined in
accordance with Section 3 of this Warrant.

     12. Amendments. Neither the Warrant nor any term hereof may be changed,
waived, discharged or terminated without the prior written consent of Holder.

     13. No Impairment. The Company will not avoid or seek to avoid the
observance or performance of any of the terms to be observed or performed
hereunder by the Company, but will at all times in good faith assist in the
carrying out of all the provisions of this Warrant and in the taking of all
such action as may be necessary or appropriate in order to protect the rights
of any Holder.

     14. Governing Law. This Agreement shall be governed by and construed under
the laws of the State of New York.

     15. Notices. All notices and other communications required or permitted
hereunder shall be in writing and shall be mailed by first class mail, postage
prepaid, addressed as follows:

     (a)  if to Holder, to Deutsche Bank Securities, Inc., One South Street,
Baltimore, Maryland 21202, Attention: Donald Notman, or

     (b)  if to the Company, to Screaming Media.Net, Inc., 601 West 26th
Street, 13th Floor, New York, New York 10001, Attention: Alan Ellman, or at
such other address as to the Company shall have furnished to the Holder in
writing.
<PAGE>   12
     IN WITNESS WHEREOF, Screaming Media.Net, Inc. has caused this Warrant to be
executed by its officer thereunto duly authorized.

Dated as of June 7, 1999                SCREAMING MEDIA.NET, INC.

                                        By: /s/ Alan S. Ellman
                                           -------------------------------
                                        Name:  Alan S. Ellman
                                        Title: President
<PAGE>   13
                                 PURCHASE FORM

                                                                 Dated_______

     The undersigned hereby irrevocably elects to exercise its rights pursuant
to this Warrant to the extent of purchasing_______shares of Common Stock of
Screaming Media.Net, Inc. and hereby makes payment of $______, in cash, in
payment of the exercise price thereof.

     [The undersigned hereby irrevocably elects to exercise its rights pursuant
to this Warrant to the extent of purchasing_______shares of Common Stock and
hereby authorizes you to deliver such shares of Common Stock for sale to_____,
and to retain from the proceeds of such sale $______, in cash, in payment of
the exercise price thereof and to remit to the undersigned the balance of such
proceeds.]

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

                     INSTRUCTIONS FOR REGISTRATION OF STOCK
                     --------------------------------------

Name:
     ----------------------------------------------------------
              (Please type or print in block letters)

Address:
        -------------------------------------------------------

Signature:
          -----------------------------------------------------
<PAGE>   14
                                ASSIGNMENT FORM

FOR VALUE RECEIVED,                                          hereby sells,
                   ------------------------------------------
assigns and transfers unto

Name:
     --------------------------------------------------------------------

                    (Please type or print in block letters)

Address:
        -----------------------------------------------------------------

the right to purchase Common Stock of Screaming Media.Net, Inc. (the
"Company"), represented by this Warrant to the extent of         shares as
                                                        ---------
to which such right is exercisable and does hereby irrevocably constitute and
appoint                      as Attorney, to transfer the same on the books of
       ----------------------
the Company with full power of substitution in the premises.

Date:
     -----------

Signature:
          -------------------------

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