Document:

<PAGE>

                                                                     Exhibit 4.9

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS
AMENDED (THE "SECURITIES ACT"). AND, ACCORDINGLY, MAY NOT BE OFFERED, SOLD,
PLEDGED OR OTHERWISE TRANSFERRED WITHIN THE UNITED STATES OR TO, OR FOR THE
ACCOUNT OR BENEFIT OF, U.S. PERSONS, EXCEPT AS SET FORTH IN THE FOLLOWING
SENTENCE. BY ITS ACQUISITION HEREOF, THE HOLDER (1) REPRESENTS THAT (A) IT IS A
"QUALIFIED INSTITUTIONAL BUYER" (AS DEFINED IN RULE 144A UNDER THE SECURITIES
ACT), (B) IT IS AN "INSTITUTIONAL ACCREDITED INVESTOR" (AS DEFINED IN RULE 501
(a)(1), (2), (3) OR (7) OF REGULATION D UNDER THE SECURITIES ACT) (AN
"INSTITUTIONAL ACCREDITED INVESTOR") OR (C) IT IS NOT A U.S. PERSON AND IS
ACQUIRING THIS NOTE IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH REGULATION S
UNDER THE SECURITIES ACT, (2) AGREES THAT IT WILL NOT, WITHIN THE TIME PERIOD
REFERRED TO UNDER RULE 144(k) AS IN EFFECT WITH RESPECT TO SUCH TRANSFER, RESELL
OR OTHERWISE TRANSFER THIS NOTE EXCEPT (A) TO EARTHWATCH INCORPORATED OR ANY
SUBSIDIARY THEREOF, (B) TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH
RULE 144A UNDER THE SECURITIES ACT, (C) TO AN INSTITUTIONAL ACCREDITED INVESTOR
THAT, PRIOR TO SUCH TRANSFER, FURNISHES TO THE TRUSTEE A SIGNED LETTER
CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS
ON TRANSFER OF THIS NOTE (THE FORM OF WHICH LETTER CAN BE OBTAINED FROM THE
TRUSTEE) AND, IF SUCH TRANSFER IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT AT
MATURITY OF NOTES AT THE TIME OF TRANSFER OF LESS THAN $100,000. AN OPINION OF
COUNSEL ACCEPTABLE TO EARTHWATCH INCORPORATED THAT SUCH TRANSFER IS IN
COMPLIANCE WITH THE SECURITIES ACT, (D) OUTSIDE THE UNITED STATES IN AN OFFSHORE
TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT, (E) PURSUANT
TO THE EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT
(IF AVAILABLE) OR (F) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT AND (3) AGREES THAT IT WILL DELIVER TO EACH PERSON TO WHOM THIS
NOTE IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. IN
CONNECTION WITH ANY TRANSFER OF THIS NOTE WITHIN THE TIME PERIOD REFERRED TO
ABOVE, THE HOLDER MUST CHECK THE APPROPRIATE BOX SET FORTH ON THE REVERSE HEREOF
RELATING TO THE MANNER OF SUCH TRANSFER AND SUBMIT THIS CERTIFICATE TO THE
TRUSTEE. IF THE PROPOSED TRANSFEREE IS AN INSTITUTIONAL ACCREDITED INVESTOR, THE
HOLDER MUST, PRIOR TO SUCH TRANSFER, FURNISH TO EACH OF THE TRUSTEE AND THE
COMPANY SUCH CERTIFICATIONS, LEGAL OPINIONS OR OTHER INFORMATION AS EITHER OF
THEM MAY REASONABLY REQUIRE TO CONFIRM THAT SUCH TRANSFER IS BEING MADE PURSUANT
TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT. EACH INSTITUTIONAL ACCREDITED INVESTOR THAT
IS NOT A QIB WILL ALSO BE REQUIRED TO EFFECT ANY TRANSFER OF THIS NOTE THROUGH
MORGAN, STANLEY & CO. INCORPORATED. AS USED HEREIN, THE TERMS "OFFSHORE
TRANSACTION," "UNITED STATES" AND "U.S. PERSON" HAVE THE MEANINGS GIVEN TO THEM
BY RULE 902 OF REGULATION S UNDER THE SECURITIES ACT. THE INDENTURE CONTAINS A
PROVISION REQUIRING THE TRUSTEE TO REFUSE TO REGISTER ANY TRANSFER OF THIS NOTE
IN VIOLATION OF THE FOREGOING RESTRICTIONS.

THIS GLOBAL NOTE IS HELD BY THE TRUSTEE, AS CUSTODIAN FOR THE DEPOSITARY (AS
DEFINED IN THE INDENTURE GOVERNING THIS NOTE), IN CUSTODY FOR THE BENEFIT OF THE
BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY
CIRCUMSTANCES EXCEPT THAT (I) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT
IN PART PURSUANT TO SECTION 2.07(a) OF THE INDENTURE AND (II) THIS GLOBAL NOTE
MAY BE TRANSFERRED TO A DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF EARTHWATCH
INCORPORATED.
<PAGE>

                            EARTHWATCH INCORPORATED

                         12 1/2% Senior Note Due 2005

                                                   CUSIP No. 270324AB2

No. 1

          Issue Date Under Internal Revenue Code (the "Code"): April 14, 1999

          EARTHWATCH INCORPORATED, a Delaware corporation (the "Company", which
term includes any successor under the Indenture hereinafter referred to), for
value received, promises to pay to Cede & Co., or its registered assigns, the
principal sum of seventy-two million United States Dollars ($72,000,000) on
March 1, 2005.

          The following information is supplied for purposes of Sections 1273
and 1275 of the Code:

Issue Date under Code: April 14, 1999    Original issue discount under Section
                                         1273 of the Internal Revenue Code
Yield to maturity for period from        (for each $ 1,000 principal amount at
Issue Date to March 1, 2005: 12.78%      Maturity Date): $679.93

                                         Issue Price (for each $1,000 principal
                                         amount at Maturity Date): $695.07

         Interest Payment Dates:         March 1 and September 1, commencing
                                         September 1, 1999.

           Regular Record Dates:         February 1 and August 1.

          Reference is hereby made to the further provisions of this Note set
forth on the reverse hereof, which provisions shall have the same effect as if
set forth hereon.

                                      A-2
<PAGE>

          IN WITNESS WHEREOF, the Company has caused this Note to be signed
manually or by facsimile by its duly authorized officer.

                                   EARTHWATCH INCORPORATED

Date: April 14, 1999               By: /s/ Herbert F. Satterlee III
                                      ------------------------------------
                                      Name:
                                      Title:

This is one of the 12 1/2% Senior Notes due 2005 described in the within-
mentioned Indenture.

                                   THE BANK OF NEW YORK, Trustee

                                   By: /s/ [SIGNATURE ILLEGIBLE]^^
                                      ------------------------------------
                                      Authorized Signatory

                                   Date of Authentication: April 14, 1999

                                      A-3
<PAGE>

                            [REVERSE SIDE OF NOTE]

                            EARTHWATCH INCORPORATED

                         12 1/2% Senior Note due 2005

1.  Principal and Interest.

          EarthWatch incorporated (the "Company") will pay the principal of this
Note on March 1, 2005. The aggregate original principal amount of all Notes on
the Issue Date is $50,044,789. The principal amount of all the Notes on the
Maturity Date is $72,000,000.

          Until the principal amount hereof (including any Accreted Interest) is
fully paid, the Company promises to pay or provide for interest on the principal
amount of this Note (including any Accreted Interest) on each Interest Payment
Date in the manner set forth in this paragraph 1. Interest on the principal
amount of the Notes (including any Accreted Interest) shall accrue at the rate
of twelve and one half percent (12.5%) per annum (the "Interest Rate") and shall
be payable in U.S. dollars in cash, or duly provided for in the form of Accreted
Interest as set forth below in this paragraph 1, in arrears on March 1 and
September 1 of each year (each an "Interest Payment Date"); provided that the
first Interest Payment Date shall be September 1, 1999. For each Interest
Payment Date occurring prior to September 1, 2002 (an "Accretion Interest
Payment Date"), an amount (all such amounts being referred to herein as
"Accreted Interest") equal to the accrued and unpaid interest for the period
from and including the immediately prior Accretion Interest Payment Date (or in
the case of the Accretion Interest Payment Date of September 1, 1999, from the
date of issuance of this Note) to such Accretion Interest Payment Date shall be
added to the principal amount of the Note. Such Accreted Interest shall
constitute principal for all purposes of this Note and the Indenture. For the
Interest Payment Date occurring on September 1, 2002 and on each subsequent
Interest Payment Date, interest shall be payable in U.S. Dollars in cash.
Interest shall be computed on the basis of a 360 day year comprised of twelve 30
day months. For the avoidance of doubt, assuming that there occurs no event
causing the incurrence of interest at the Default Rate (as defined below), on
the Issue Date and on each Accretion Interest Payment Date, the accreted
principal amount of each Note in respect of each $1,000 in principal amount of
such Note at the Maturity Date shall be the amount set forth opposite such date
below:
<TABLE>
<CAPTION>

Accretion Interest Payment Date    Accreted Value
------------------------------    --------------
<S>                               <C>
Issue Date                              $695.067
September 1, 1999                       $738.508
March 1, 2000                           $784.665
September 1, 2000                       $833.706
March 1, 2001                           $885.813
September 1, 2001                       $941.176
March 1, 2002                         $1,000.000

</TABLE>

                                      A-4
<PAGE>

          The Company shall pay interest on overdue principal and premium, if
any, and (to the extent lawful) interest on overdue installments of interest at
the rate per annum of 13.5% (the "Default Rate").

2. Method of Payment.

          The Company will pay principal as provided above and interest on each
Interest Payment Date to the persons who are Holders (as reflected in the
Register at the close of business on each February 1 and August 1 immediately
preceding the Interest Payment Date), in each case, even if the Note is
cancelled on registration or transfer or exchange after such Regular Record
Date; provided that, with respect to payment of principal, the Company will not
make payment to the Holder unless this Note is surrendered to the Paying Agent.

          The Company will pay principal, premium, if any, and as provided
above, interest in money of the United States of America that at the time of
payment is legal tender for payment of public and private debts. However, the
Company may pay principal, premium, if any, and interest by its check payable in
such money. It may mail an interest check to a Holder's registered address (as
reflected in the Register). If a payment date is a date other than a Business
Day at a place of payment, payment may be made at that place on the next
succeeding day that is a Business Day and no interest shall accrue for the
intervening period.

3. Paying Agent and Registrar.

          Initially, the Trustee will act as authenticating agent, Paying Agent
and Registrar. The Company may change any authenticating agent, Paying Agent and
Registrar without notice in accordance with the Indenture. The Company, any
Affiliate or any Subsidiary thereof may act as the Paying Agent or Registrar.

4. Indenture; Limitations.

          The Company issued the Notes under an Amended and Restated Indenture
dated as of April 8, 1999 (the "Indenture"), between the Company and The Bank of
New York, trustee (the "Trustee"). Capitalized terms herein are used as defined
in the Indenture unless otherwise indicated. The terms of the Notes include
those stated in the Indenture and those made part of the Indenture by reference
to the Trust Indenture Act. The Notes are subject to all such terms, and Holders
are referred to the Indenture and the Trust Indenture Act for a statement of all
such terms. To the extent permitted by applicable law, in the event of any
inconsistency between the terms of this Note and the terms of the Indenture, the
terms of the Indenture shall control.

          The Notes are senior indebtedness of the Company and are secured by
the First QuickBird Launch Insurance pursuant to and as provided in the Security
Documents.

5. Redemption.

          The Notes may be redeemed at the election of the Company, in whole or
in part, on March 1, 2002 and from time to time thereafter prior to maturity,
upon not less than 30 nor

                                      A-5
<PAGE>

more than 60 days' prior notice mailed by first-class mail to each Holder's last
address as it appears in the Register, in amounts of $ 1,000 or an integral
multiple of $ 1,000, at the Redemption Prices (expressed as percentages
of principal amount in respect of such Notes at the Redemption Date (including
any Accreted Interest) thereof) set forth below, plus accrued and unpaid
interest to the Redemption Date, if redeemed during the 12-month period
beginning on March 1 of the years indicated below:

            Year                              Redemption Price
            ----                              ----------------
            2002                                 106.250%
            2003                                 103.125%
            2004                                 101.5625%
            2005                                 100.00%

6. Notice of Redemption.

          Notice of any optional redemption will be mailed at least 30 days but
not more than 60 days before the Redemption Date to each Holder of Notes to be
redeemed at its last address as it appears in the Register. Notes in original
denominations larger than $ 1,000 may be redeemed in part. On and after the
Redemption Date, interest ceases to accrue on Notes or portions of Notes called
for redemption, unless the Company defaults in the payment of the Redemption
Price.

7. Repurchase upon Change of Control.

          Upon the occurrence of any Change of Control, the Company will be
obligated to make an offer to purchase all outstanding Notes pursuant to the
Offer to Purchase described in the Indenture at a purchase price equal to 101%
of the aggregate principal amount thereof at the relevant Payment Date
(including any Accreted Interest), plus, without duplication, accrued and unpaid
interest, if any, to the Payment Date (the "Change of Control Payment").

          A notice of such Change of Control will be mailed within 30 days after
any Change of Control occurs to each Holder of Notes at such Holder's registered
address as it appears in the Register. Notes in original denominations larger
than $1,000 may be sold to the Company in part; provided that Notes will only
be issued in denominations of $1,000 principal amount at maturity or integral
multiples thereof. On and after the Payment Date, interest ceases to accrue on
Notes or portions of Notes surrendered for purchase by the Company, unless the
Company defaults in the payment of the Change of Control Payment.

8. Denomination, Transfer; Exchange.

          The Notes are in registered form without coupons in denominations of
$1,000 of principal amount at maturity or an integral multiple thereof. A Holder
may register the transfer or exchange of Notes in accordance with the Indenture.
The Registrar may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents and to pay any

                                      A-6
<PAGE>

taxes and fees required by law or permitted by the Indenture. The Registrar
need not register the transfer or exchange of any Notes selected for redemption.
Also, it need not register the transfer or exchange of any Notes for a period of
15 days before the mailing of a notice of redemption of Notes to be redeemed is
made. This Note is a Global Note.

9. Persons Deemed Owners.

          The Holder of this Note shall be treated as the owner of this Note
for all purposes.

10. Unclaimed Money.

          If money for the payment of principal, premium, if any, and interest
remains unclaimed for two years, the Trustee and the Paying Agent will pay the
money back to the Company at its written request. After that, Holders entitled
to the money must look to the Company for payment, unless an applicable law
designates another Person, and all liability of the Trustee and such Paying
Agent with respect to such money shall cease.

11. Discharge Prior to Redemption or Maturity.

          If the Company deposits with the Trustee money or U.S. Government
Obligations sufficient to pay the then outstanding principal of, premium, if
any, and accrued interest on the Notes to redemption or Stated Maturity, the
Company will be discharged from certain covenants set forth In the Indenture.

12. Amendment; Supplement; Waiver.

          Subject to certain exceptions, the Indenture or the Notes may be
amended or supplemented with the consent of the Holders of at least a majority
in aggregate principal amount of the Notes then outstanding, and any existing
default or compliance with any provision may be waived with the consent of the
Holders of at least a majority in aggregate principal amount of the Notes then
outstanding. Without notice to or the consent of any Holder, the parties thereto
may amend or supplement the Indenture or the Notes to, among other things, cure
any ambiguity, defect or inconsistency and make any change that does not
materially and adversely affect the rights of any Holder.

13. Restrictive Covenants.

          The Indenture imposes certain limitations on the ability of the
Company and the Restricted Subsidiaries, among other things, to create Liens;
make certain Restricted Payments; or enter into certain Sale-Leaseback
transactions. Within 90 days after the end of the last fiscal quarter of each
year, the Company must report to the Trustee on compliance with such
limitations. Notwithstanding any other provision of the Indenture or the Notes,
neither the consummation of the Recapitalization Transaction, nor the execution,
delivery or performance of any of the Transaction Documents is prohibited or
restricted by any term, covenant, condition, or provision of the Indenture, the
Original Indenture, the Notes, the Original Notes or the Security

                                      A-7
<PAGE>

Documents, will constitute a Default or Event of Default or shall require the
prepayment of the Notes.

14. Successor Persons.

          Generally, when a successor person or other entity assumes all the
obligations of its predecessor under the Notes and the Indenture, the
predecessor person will be released from those obligations.

15. Defaults and Remedies.

          The following events will be defined as "Events of Default" in the
Indenture: (a) default in the payment of principal of (or premium, if any, on)
any Note when the same becomes due and payable at maturity, upon acceleration,
redemption or otherwise; (b) default in the payment of interest on any Note when
the same becomes due and payable, and such default continues for a period of 30
days; (c) failure to make or consummate an Offer to Purchase in accordance with
Section 4.6 of the Indenture; (d) the Company defaults in the performance of or
breaches any other covenant or agreement of the Company in the Indenture or
under the Notes (other than a default specified in clause (a), (b) or (c) above)
and such default or breach continues for a period of 30 consecutive days after
written notice by the Trustee or the Holders of 25% or more in aggregate
principal amount at maturity of the Notes; (e) there occurs with respect to any
issue or issues of Indebtedness of the Company or any Significant Subsidiary
having an outstanding principal amount of $1,000,000 or more in the aggregate
for all such issues of all such Persons, whether such Indebtedness now exists or
shall hereafter be created, (I) an event of default that has caused the holder
thereof to declare such Indebtedness to be due and payable prior to its Stated
Maturity and such Indebtedness has not been discharged in full or such
acceleration has not been rescinded or annulled within 30 days of such
acceleration and/or (II) the failure to make a principal payment at the final
(but not any interim) fixed maturity and such defaulted payment shall not have
been made, waived or extended within 30 days of such payment default and/or
(III) with respect to any Permitted Specified Indebtedness, there shall occur
any default in the performance or observance of any term, condition, covenant or
agreement contained therein or any agreement relating thereto, or any other
event specified in any such Indebtedness or agreement, if the effect thereof is
to cause, or permit the holder or holders of such Indebtedness (or any trustee
or other representative of any such holder(s)) to cause such Indebtedness to
become due prior to its stated maturity; (f) any final judgment or order (not
covered by insurance) for the payment of money in excess of $ 1,000,000 in the
aggregate for all such final judgments or orders against all such Persons
(treating any deductibles, self-insurance or retention as not so covered) shall
be rendered against the Company or any Significant Subsidiary and shall not be
paid or discharged, and there shall be any period of 30 consecutive days
following entry of the final judgment or order that causes the aggregate amount
for all such final judgments or orders outstanding and not paid or discharged
against all such Persons to exceed $1,000,000 during which a stay of enforcement
of such final judgment or order, by reason of a pending appeal or otherwise,
shall not be in effect; (g) a court having jurisdiction in the premises enters a
decree or order for (A) relief in respect of the Company or any Significant
Subsidiary in an involuntary case under any applicable bankruptcy, insolvency or
other similar law now or hereafter in effect,

                                      A-8
<PAGE>

(B) appointment of a receiver, liquidator, assignee, custodian, trustee,
sequestrator or similar official of the Company or any Significant Subsidiary or
(for all or substantially all of the property and assets of the Company or any
Significant Subsidiary or (C) the winding up or liquidation of the affairs of
the Company or any Significant Subsidiary and, in each case, such decree or
order shall remain unstayed and in effect for a period of 60 consecutive days;
(h) the Company or any Significant Subsidiary (A) commences a voluntary case
under any applicable bankruptcy, insolvency or other similar law now or
hereafter in effect, or consents to the entry of an order for relief in an
involuntary case under any such law, (B) consents to the appointment of or
taking possession by a receiver, liquidator, assignee, custodian, trustee,
sequestrator or similar official of the Company or any Significant Subsidiary or
for all or substantially all of the property and assets of the Company or any
Significant Subsidiary or (C) effects any general assignment for the benefit of
creditors or (i) failure of insurance proceeds to be paid to the Collateral
Trustee in the event of a launch failure.

          If an Event of Default (other than an Event of Default specified in
clause (g) or (h) above that occurs with respect to the Company) occurs and is
continuing under the Indenture, the Trustee or the Holders of at least 25% in
aggregate principal amount outstanding, by written notice to the Company (and to
the Trustee if such notice is given by the Holders), may, and the Trustee at the
request of such Holders shall, declare the principal amount of, premium, if any,
and accrued interest on the Notes to be immediately due and payable. Upon a
declaration of acceleration, such principal amount of, premium, if any, and
accrued interest shall be immediately due and payable. In the event of a
declaration of acceleration because an Event of Default set forth in clause (e)
above has occurred and is continuing, such declaration of acceleration shall be
automatically rescinded and annulled if the event of default triggering such
Event of Default pursuant to clause (e) shall be remedied or cured by the
Company or the relevant Significant Subsidiary or waived by the holders of the
relevant Indebtedness within 60 days after the declaration of acceleration with
respect thereto. If an Event of Default specified in clause (g) or (h) above
occurs with respect to the Company, the principal amount of, premium, if any,
and accrued interest on the Notes then outstanding shall ipso facto become and
be immediately due and payable without any declaration or other act on the part
of the Trustee or any Holder. The Holders of at least a majority in principal
amount at maturity of the outstanding Notes by written notice to the Company and
to the Trustee, may waive all past defaults and rescind and annul a declaration
of acceleration and its consequences if (i) all existing Events of Default,
other than the nonpayment of the principal of, premium, if any, and interest on
the Notes that have become due solely by such declaration of acceleration, have
been cured or waived and (ii) the rescission would not conflict with any
judgment or decree of a court of competent jurisdiction.

          The Holders of at least a majority in aggregate principal amount at
maturity of the outstanding Notes may direct the time, method and place of
conducting any proceeding for any remedy available to the Trustee or exercising
any trust or power conferred on the Trustee. However, the Trustee may refuse to
follow any direction that conflicts with law or the Indenture, that may involve
the Trustee in personal liability, or that the Trustee determines in good faith
may be unduly prejudicial to the rights of Holders of Notes not joining in the
giving of such direction and may take any other action it deems proper that is
not inconsistent with any such direction received from Holders of Notes. A
Holder may not pursue any remedy with respect to the In-

                                      A-9
<PAGE>

denture or the Notes unless: (i) the Holder gives the Trustee written notice of
a continuing Event of Default; (ii) the Holders of at least 25% in aggregate
principal amount at maturity of outstanding Notes make a written request to the
Trustee to pursue the remedy; (iii) such Holder or Holders offer the Trustee
indemnity satisfactory to the Trustee against any costs, liability or expense;
(iv) the Trustee does not comply with the request within 60 days after receipt
of the request and the offer of indemnity; and (v) during such 60-day period,
the Holders of a majority in aggregate principal amount at maturity of the
outstanding Notes do not give the Trustee a direction that is inconsistent with
the request. However, such limitations do not apply to the right of any Holder
of a Note to receive payment of the principal of, premium, if any, or interest
on, such Note or to bring suit for the enforcement of any such payment, on or
after the due date expressed in the Notes, which right shall not be impaired or
affected without the consent of the Holder.

16. Trustee Dealings with Company.

          The Trustee under the Indenture, in its individual or any other
capacity, may become owner or pledgee of Notes and may otherwise deal with the
Company or its Affiliates with the same rights it would have if it were not the
Trustee.

17. No Recourse Against Others.

          No recourse for the payment of the principal of, premium, if any, or
interest on any of the Notes or for any claim based thereon or otherwise in
respect thereof, and no recourse under or upon any obligation, covenant or
agreement of the Company in the Indenture, or in any of the Notes or because of
the creation of any Indebtedness represented thereby, shall be had against any
incorporator, stockholder, officer, director, employee or controlling person of
the Company or of any successor Person thereof. Each Holder, by accepting the
Notes, waives and releases all such liability.

18. Authentication.

          This Note shall not be valid until the Trustee or authenticating agent
signs the certificate of authentication on the other side of this Note.

19. CUSIP Numbers.

          Pursuant to a recommendation promulgated by the Committee on Uniform
Security Identification Procedures, the Company has caused CUSIP numbers to be
printed on the Notes and the Trustee may use CUSIP numbers in notices of
redemption as a convenience to Holders. No representation is made as to the
accuracy of such numbers either as printed on the Notes or as contained in any
notice of redemption and reliance may be placed only on the other identification
numbers placed thereon.

           This Note shall be governed by and construed in accordance with the
internal laws of the State of New York.

                                     A-10
<PAGE>

          The Company will furnish to any Holder upon written request and
without charge a copy of the Indenture. Requests may be made to EarthWatch
Incorporated, 1990 Pike Road, Longmont, Colorado 80501, Attention: President.

                                     A-11
<PAGE>

                                  SCHEDULE A

                 SCHEDULE OF PRINCIPAL AMOUNT OF INDEBTEDNESS
                            EVIDENCED BY THIS NOTE

           The initial principal amount of indebtedness evidenced by this Note
 shall be $50,044,789. The following decreases/increases in the principal amount
 evidenced by this Note have been made:

<TABLE>
<CAPTION>
Date of      Decrease in   Increase in   Total Principal      Notation Made
Decrease/    Principal     Principal     Amount of this       by or on
Increase     Amount of     Amount of     Global Note Fol-     Behalf of
--------     this Global   this Global   lowing such          Trustee
             Note          Note          Decrease/Increase    -------
             ----          ----          -----------------
<S>          <C>           <C>           <C>                  <C>

----------   -----------   -----------   ------------------   -----------------
----------   -----------   -----------   ------------------   -----------------
----------   -----------   -----------   ------------------   -----------------
----------   -----------   -----------   ------------------   -----------------
----------   -----------   -----------   ------------------   -----------------
----------   -----------   -----------   ------------------   -----------------
----------   -----------   -----------   ------------------   -----------------
----------   -----------   -----------   ------------------   -----------------
----------   -----------   -----------   ------------------   -----------------
----------   -----------   -----------   ------------------   -----------------
----------   -----------   -----------   ------------------   -----------------
----------   -----------   -----------   ------------------   -----------------
----------   -----------   -----------   ------------------   -----------------
----------   -----------   -----------   ------------------   -----------------
----------   -----------   -----------   ------------------   -----------------
----------   -----------   -----------   ------------------   -----------------
</TABLE>

                                     A-12
<PAGE>

                      OPTION OF HOLDER TO ELECT PURCHASE

          If you wish to have this Note purchased by the Company pursuant to
Section 4.6 of the Indenture, check the box: [_]

          If you wish to have a portion of this Note purchased by the Company
pursuant to Section 4.6 of the Indenture, state the amount (in principal amount
at maturity):
$_________________($1,000 or integral multiple thereof).

Date: ___________

Your Signature: ________________________________________________________________

Signature Guarantee: __________________________

                                     A-13<PAGE>

                                                                    Exhibit 10.4

                       CONTRACT FOR QUICKBIRD SPACECRAFT

                       CONTRACT NUMBER SE.1M.PRJ.0004.A

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

EarthWatch Incorporated, a corporation organized and existing under the laws of
the State of Delaware, having an office at 1900 Pike Road, Longmont, Colorado
80501 (hereinafter referred to as "EarthWatch") and Ball Aerospace &
Technologies Corp., a corporation organized and existing under the laws of
Delaware, with offices at 1600 Commerce Street, Boulder, Colorado 80301
(hereafter referred to as "BATC") entered into a Letter Contract effective
February 5, 1996 for the EarthWatch QuickBird Space Segment Project. The parties
acknowledge the Letter Contract has been terminated. This Contract supersedes
that Letter Contract effective February 5, 1996 as amended. This Agreement is
effective from June 9, 1998 (the "Effective Date").

ARTICLE 1: OVERALL SCOPE OF THE PROJECT
---------------------------------------

Subject to the Terms and Conditions set forth in Exhibit A entitled "Contract
for the EarthWatch Project One QuickBird Space Segment" attached hereto of this
contract BATC shall provide the necessary resources for the definition, design,
production, integration, test, verification, of one (1) QuickBird Spacecraft,
Ground Support Equipment (GSE), and associated miscellaneous data and software.
In connection therewith, BATC shall perform the Services and produce the
Deliverables specified in the Statement of Work, number SE. 1 M. PRJ. 002 dated
May 28, 1998, entitled EarthWatch QuickBird Satellite attached hereto as EXHIBIT
C (the "Statement of Work") in accordance with the delivery dates. Subject to
the Terms and Conditions, Exhibit A, of this Contract, EarthWatch agrees to
accept the Services and Deliverables specified in the Statement of Work. The
Deliverables shall meet the requirements specified in the Specification,
entitled Spacecraft Bus and Instrument EarthWatch QuickBird Spacecraft dated
June 23, 1997, attached hereto as EXHIBIT D (the " Specifications").

ARTICLE 2: PRICE AND PAYMENT
----------------------------

2.1   Price

The total fixed prices for the Deliverables and Services, are specified in
Exhibit E. All prices contained within this provision are exclusive of shipping
costs, transportation insurance, and all taxes, as defined in Exhibit A
paragraph 5 occasioned by the sale, ownership or use of the goods or services
furnished. EarthWatch agrees to pay all such taxes and duties.
<PAGE>

2.2  Payments
     --------

     2.2. 1. Payments shall be made by EarthWatch to BATC at the time specified
in Exhibit E. The payments are in advance of the performance of the milestones
specified for each month.

In the event BATC does not complete a milestone by the end of the month, BATC
shall issue a credit in the amount of the missed milestone. EarthWatch may
reduce the amount of the next payment by the amount of the credit unless BATC
completes the milestone before the due date of the next payment. If EarthWatch
takes the credit, EarthWatch shall pay for that milestone when completed at the
time of the next payment.

     2.2.2. It is recognized that EarthWatch currently has sufficient funds in
place only to make the payments specified for the Telescope Option (No. 2) set
forth in Exhibit E and that additional financing needs to be obtained by
EarthWatch to make additional payments to perform the entire scope of the
Contract. EarthWatch agrees to keep BATC informed of its efforts to obtain said
additional financing and if EarthWatch does not exercise its option to stop work
per Article 7, EarthWatch agrees to:

(a) demonstrate to BATC's satisfaction that sufficient funds are available to
make payments as they are due per Exhibit E and cover termination liabilities
per Section 6 of Exhibit A; or

(b) if BATC is not satisfied per (a) above, EarthWatch shall establish an
irrevocable letter of credit for such time periods as mutually agreed, confirmed
at a United States bank acceptable to BATC, in amounts necessary to secure
payments for the termination liabilities arising under Section 6 of Exhibit A.
Such amounts shall be provided to EarthWatch by BATC from time to time
consistent with the financing situation. Such letters of credit shall provide
payment to BATC immediately upon presentation of an invoice by BATC for an
amount validated by the third party audit specified in Section 6 of Exhibit A
following termination of this contract, in whole or in part, for any reason. The
amount in the letter of credit at any time shall not be greater than the total
termination liability less payments made to date by EarthWatch unless otherwise
mutually agreed.

ARTICLE 3. OPTION TO PURCHASE ONE ADDITIONAL QUICKBIRD SPACE SEGMENT
--------------------------------------------------------------------

BATC grants to EarthWatch an option to purchase one (1) additional One Meter
QuickBird Space Segment in accordance with the terms and conditions set forth in
this Contract. The prices and option exercise dates required in the exercise of
this option are set forth in Exhibit B, 'Option To Purchase" One (1) One Meter
Spacecraft Segment of this Contract. This option is only valid if the stop work
options per article 7 are not in effect at the time of the exercise date.

                                                                              ii
<PAGE>

ARTICLE 4. EXHIBITS
-------------------

The following EXHIBITS are attached to the Contract and are a part hereof.

EXHIBIT A contains the Terms and Conditions applicable to this Contract.

EXHIBIT B contains the Option to Purchase Requirement applicable to this
Contract.

EXHIBIT C contains the Statement of Work applicable to this Contract.

EXHIBIT D contains the Specification applicable to this Contract.

EXHIBIT E contains the Payment Schedules applicable to this Contract.

EXHIBIT F contains the Three Party Confidentiality Agreement applicable to this
Contract.

IN WITNESS WHEREOF, the parties hereto have caused this Contract to be executed
in duplicate by their respective duly authorized representatives as of the date
first above written.

EarthWatch Incorporated:

By:   /s/ Walter S. Scott
   -----------------------------
   Walter S. Scott
   Chief Executive Officer & President

Ball Aerospace & Technologies Corp.

By:   /s/ E.L. Vande Noord
   ------------------------------
   E. L. Vande Noord
   Senior Vice President and General Manager
   Ball Aerospace & Technologies Corp.

                                                                             iii
<PAGE>

                                   EXHIBIT A

                                      to

        Contract for the EarthWatch Project One QuickBird Space Segment

                             Terms and Conditions

UNLESS OTHERWISE STATED, ALL CAPITALIZED TERMS USED HEREIN SHALL HAVE THE
MEANING ASCRIBED TO THEM IN THIS CONTRACT, EXHIBIT C--STATEMENT OF WORK, OR
EXHIBIT D--SPECIFICATION

1.  Acceptance of Deliverables.

    1.1 Acceptance of the Spacecraft. Shipment approval and preliminary
        acceptance by EarthWatch shall occur at BATC's facility following
        satisfactory completion of the Pre-Ship Review as specified in the
        Statement of Work section 11.2. Final acceptance of the Spacecraft shall
        occur at the launch site if launched within the Continental United
        States (CONUS) or immediately following entry into international
        airspace if launched other than the CONUS.

    1.2 Acceptance of Ground Support Equipment or Other Deliverables. Shipment
        approval shall occur as specified in the Statement of Work. GSE items to
        be delivered under this Contract shall be accepted by EarthWatch after
        lift-off of the Spacecraft. Acceptance of Telescope or Instrument
        Deliverables under the options specified in ''7.2.2 and 7.2.3 shall
        occur as specified in Exhibit C; Statement of Work.

    1.3 Title and Risk of Loss of Spacecraft and Other Deliverables. Except as
        noted below, title to the Deliverables shall remain with BATC and
        identification and Title to the Deliverables shall pass to EarthWatch
        upon acceptance at the launch site or immediately upon entry into
        international airspace. The risk of loss for Deliverables shall pass to
        EarthWatch upon completion of the Shipment approval and preliminary
        acceptance, as specified in EXHIBIT C.

    1.4 Title and Risk of Loss of Telescope and Instrument Deliverables. In the
        event that EarthWatch selects an option as identified in '7 title and
        risk of loss of the Telescope and Instrument Deliverables shall pass to
        EarthWatch following final payment.

2.  Mutual Confidentiality: Disclosure of confidential and proprietary
    information shall be treated in accordance with the terms of the Three Party
    Confidentiality Agreement between BATC, EarthWatch, and Kodak dated as
    noted, included herein as EXHIBIT F.

                                                                               1
<PAGE>

    Subject to good faith concerns related to disclosure of BATC confidential
    and proprietary information and technical data to competitors, BATC
    authorizes EarthWatch to disclose confidential and proprietary information
    and technical data to EarthWatch contractors, subcontractors, and existing
    EarthWatch Master Distributors (Telespazio and Hitachi), including their
    contractors and subcontractors, as necessary to design and implement the
    EarthWatch Remote Ground Terminals, Mission Control Center, and data archive
    and image processing facilities provided that EarthWatch shall enter into
    Confidentiality Agreements with each such entity that requires such entity
    to protect the information in the same manner as EarthWatch is required to
    do under the terms of this Contract. BATC shall evaluate entering into such
    agreements with future Master Distributors as EarthWatch may designate.
    EarthWatch is aware that such information may be subject to export
    restrictions and EarthWatch will be responsible for complying with all
    export regulations as noted in (S)16.5.

3.  Use of Facilities: BATC and BATC's employees, contractors and agents who are
    performing Services shall have access to appropriate EarthWatch and
    Contractor sites as needed to perform their tasks. BATC shall be responsible
    for BATC's and associated personnel observing site rules and regulations,
    including, but not limited to, safety regulations, security requirements and
    rules relating to working in harmony with others at the site.

    BATC agrees to afford EarthWatch, its employees and employees of EarthWatch
    Master Distributors (Telespazio and Hitachi) access to all work being
    performed at BATC's facilities, at all reasonable times during the term of
    the contract provided that such access does not unreasonably interfere with
    such work. The number of EarthWatch employees who have such access shall be
    controlled by mutual agreement between BATC and EarthWatch. EarthWatch and
    its employees will abide by BATC site regulations, including, but not
    limited to safety regulations, security requirements and rules relating to
    access to BATC's facilities. EarthWatch is aware that all technical data
    information is subject to export restrictions and EarthWatch will be
    responsible for providing the necessary government authorizations and
    approvals. BATC shall provide all reasonable support to assist EarthWatch in
    gaining such approvals.

4.  Payment Directions and Security Interests:

    4.1 Security Interests. BATC shall retain title until title passes pursuant
        to (S)(S) 1.3 and 1.4 hereof. Following passage of title, BATC shall
        retain a perfected first security interest in the Deliverables until all
        amounts due and payable to BATC have been paid in full.

        In the event BATC becomes insolvent or bankrupt and is unable to provide
        adequate assurance of performance acceptable to EarthWatch, EarthWatch
        shall have the right to take possession of the components for one
        QuickBird Satellite and shall have a perfected first security interest
        to the extent of payments by EarthWatch to BATC until title transfers.

                                                                               2
<PAGE>

    4.2 EarthWatch shall make payments net in U.S. dollars on or before the
        dates specified in Exhibit E or B, as the case may be, to the following
        address:

            BATC
            c/o The First National Bank of Chicago
            Attn.: 70644/Ball Corporation
            P.O. Box 70644
            Chicago, IL 60673-0644

                 Payments may also be made by wire transfer to:
                 The First National Bank of Chicago, Chicago, IL
            Routing/Transfer No. 71000013
            Account No. 50-11884

                 Include the following information:
            EarthWatch Incorporated, Longmont, CO
            Customer No. 041860101
            Payment No.: To be completed with each transfer from Exhibit E
            Amount Paid: To be completed with each transfer from Exhibit E
            Contract No. SE.1M.PRJ.0004.A

    4.5 Milestone Completion: BATC shall prepare and deliver to EarthWatch a
        Milestone Certificate for each milestone that BATC completes. EarthWatch
        shall sign each certificate to signify EarthWatch's agreement that the
        milestone has been completed. In the event that EarthWatch does not
        agree with the completion of a milestone EarthWatch shall so notify BATC
        in writing within five (5) business days of receipt of the milestone
        certificate. If it is determined that BATC has not completed the
        milestone as specified in Exhibit E, the payment will be credited as
        provided for in Article 2.2.

5.  Taxes: All taxes and similar assessments, levies and government-imposed
    obligations arising with respect to Deliverables and/or support services
    (except for taxes on BATC's income) shall be the obligation of and be paid
    by EarthWatch whether such taxes become due upon payments under the contract
    or upon a future tax assessment as a result of an audit, or other event or
    notification by the relevant tax authority. For this purpose and unless
    otherwise indicated below, taxes shall mean any and all U.S., and its states
    and localities, and Russian, including any regional, state, province or
    other locality, sales and use, value added (including reverse charge value
    added tax), turnover, import duty, import VAT, property, excise, privilege
    or other fees, duties or taxes assessed by the sale, ownership, or use of
    the goods or services provided.

    5.1 Sales and Use Taxes. All applicable payments for sales and use taxes
        shall be collected from EarthWatch by BATC and remitted to the proper
        taxing authority, in the legally defined time frame determined by each
        taxing authority.

        5.1.1 Non-Recurring Engineering Services. The parties have initially
              determined that there are Non-Recurring Engineering Services
              associated with the
                                                                               3
<PAGE>

              performance of this Contract. Such services will be exempt from
              Sales and Use Tax. BATC has identified that $1,900,000 of the
              price is for such services.

        5.1.2 Sales Tax Exemption. The final products are tangible personal
              property and subject to Colorado Sales and Use Tax unless a
              properly completed Colorado Resale or Sales Tax Exemption
              Certificate is provided to BATC by EarthWatch. EarthWatch agrees
              to reimburse BATC for tax, interest, and any penalty assessed by
              the State of Colorado or other taxing authority arising from a
              determination by the State of Colorado or other taxing authority
              that the claim for exemption is denied or that the non-recurring
              engineering services are taxable as sales. BATC shall provide all
              reasonable support to assist EarthWatch in gaining such
              determination.

   5.2  Licenses. Gross Receipts, Business and Occupation Taxes. Each company
        will be responsible for its own licenses, gross receipts (with the
        exception of any sales taxes referred to as gross receipts), and
        business and occupation taxes.

   5.3  Property Taxes. Each company will be responsible for property taxes due
        on property owned by the respective company with the exception of any
        assessed property that constitutes a contract Deliverable. EarthWatch
        will be responsible for property taxes on Contract Deliverables.

   5.4  Other Taxes. Each company will be responsible for its own corporate
        income or franchise taxes based upon income and/or net worth.

6. Termination
   -----------

   6.1  Termination by BATC for Default by EarthWatch. BATC may terminate
        EarthWatch for default if EarthWatch does not pay BATC the amounts due
        under this contract as specified in Article 2, Section 4 of Exhibit A
        and Exhibit E. In addition, BATC may terminate EarthWatch for Default if
        30 days after receipt of a notice for Termination for Default and
        EarthWatch fails to cure the default condition. Conditions constituting
        default include: (a) BATC determines in good faith that EarthWatch does
        not have the ability to adequately cover financial liabilities,
        including its existing and future obligations to BATC pursuant to
        paragraph 2.2.2 of Article 2; (b) EarthWatch declares bankruptcy or
        enters receivership or; (c) EarthWatch fails to meet any material
        obligation under this contract.

        6.1.1 Upon issuing a termination notice to EarthWatch under this
              section, BATC shall promptly stop work and place no further
              orders, terminate all existing orders (to the extent necessary)
              and shall settle with any and all applicable subcontractors and
              vendors in a commercially reasonable manner. EarthWatch shall be
              required to pay BATC's incurred costs(as verified by a mutually
              agreeable, independent, third party audit), any unpaid procurement
              obligations (as verified by a mutually agreeable independent third
              party

                                                                               4
<PAGE>

           audit), reasonable and customary termination expenses (as verified by
           a mutually agreeable independent third party audit) plus a reasonable
           profit not to exceed the contract value. EarthWatch shall also pay
           interest at the rate of 15% per annum accruing 30 days after the
           receipt of an invoice and the cost of collections for such, if any,
           including reasonable attorney's fees.

     6.1.2 Upon receipt of all amounts due under the contract, BATC shall
           provide to EarthWatch in an "as is" condition, all Deliverables for
           the contracted QuickBird Satellite(s) including flight hardware,
           ground support equipment, software, and data as defined in the
           Statement of Work, either completed or in process as of the date of
           termination. To the extent permitted to do so under the subcontracts.

     6.1.3 If EarthWatch fails to pay BATC, for any reason, the total amount due
           under this contract, the rights, titles and possession of all the
           contract Deliverables will be vested in BATC and EarthWatch and/or
           any appointed receivership shall not have any claim in ownership.

     6.1.4 In the event of default by EarthWatch, nothing in this section shall
           preclude BATC from pursuing its other remedies at law or equity.

6.2  Termination by EarthWatch for Default by BATC. EarthWatch may terminate
     BATC for default if 30 days after receipt of a notice for Termination for
     Default and BATC fails to cure the default condition. Conditions that
     constitute default are: BATC fails to meet any material obligation under
     this contract.

     6.2.1 Upon receipt of a termination notice under this section, BATC shall
           promptly stop work and place no further orders, and terminate all
           existing orders (to the extent necessary) and shall settle with any
           and all applicable subcontractors and vendors in a commercially
           reasonable manner. EarthWatch will pay BATC's actual incurred costs
           (as verified by a mutually agreeable, independent, third party audit)
           and any unpaid procurement obligations (as verified by an independent
           third party audit). This shall not exceed 90% of the contract value.
           EarthWatch shall also pay interest at the rate of 15% per annum
           accruing 30 days after the receipt of a termination invoice and the
           cost of collections for such, if any, including reasonable attorney's
           fees.

     6.2.2 Upon receipt of all amounts due under the contract, BATC shall
           provide to EarthWatch in an "as is" condition, all Deliverables for
           the contracted QuickBird Satellite(s) including flight hardware,
           ground support equipment, software, and data as defined in the
           Statement of Work, either completed or in process as of the date of
           termination. To the extent permitted to do so under the subcontracts.

     6.2.3 In the event of default by BATC, nothing in this section shall
           preclude EarthWatch from pursuing its other remedies at law or
           equity.

                                                                               5
<PAGE>

     6.3  Termination for Convenience by EarthWatch. EarthWatch may in good
          faith terminate the Contract at any time for convenience on 30 days
          written notice to BATC provided EarthWatch is not in default of any
          material provision of this contract prior to the date of termination.
          Upon receipt of a termination notice under this section, BATC shall
          promptly stop work and place no further orders, and terminate (to the
          extent necessary) and shall settle with any and all applicable
          subcontractors and vendors in a commercially reasonable manner. In the
          event of such termination, EarthWatch will pay BATC's incurred costs
          (as verified by a mutually agreeable independent third party audit),
          any unpaid procurement obligations (as verified by an independent
          third party audit), reasonable and customary termination costs (as
          verified by a mutually agreeable, independent, third party audit) from
          the effective date of termination, and a reasonable profit not to
          exceed the contract value. EarthWatch shall pay interest at the rate
          of 15% per annum accruing 30 days after the receipt of a termination
          invoice and the costs of collection for such, if any, including
          reasonable attorney fees. Unless directed otherwise, EarthWatch hereby
          authorizes BATC to take all reasonable measures to mitigate the costs
          of a termination, including resale to other programs or companies.

          6.3.1  Alternatively, upon payment by EarthWatch of all of the amount
                 due, BATC shall provide to EarthWatch, in an "as is" condition,
                 all Deliverables for the contracted QuickBird Satellite(s)
                 including flight hardware, ground support equipment, software,
                 and data as defined in the Statement of Work, either completed
                 or in process as of the date of termination. To the extent
                 permitted to do so under the subcontracts, BATC shall assign
                 all of its rights and obligations under any uncompleted
                 Subcontracts for the contracted QuickBird Satellite(s) to
                 EarthWatch upon the written request of EarthWatch at the time
                 of notification of termination and payment of all amounts due.
                 Assignment of any subcontract shall not convey any of BATC's
                 rights to intellectual property and BATC property in the
                 possession of the Subcontractor which is not a deliverable
                 under the subcontract. Should EarthWatch elect to complete the
                 performance specified under this contract itself, BATC shall
                 provide to EarthWatch a no-cost, limited use license to all
                 background technology and data necessary to complete the
                 Deliverables for the contracted QuickBird Satellite(s).

     6.4  Other Consequences of Termination. Upon the expiration or termination
          of this Contract, BATC and BATC's personnel shall promptly return to
          EarthWatch or destroy, as EarthWatch directs, all papers, written
          materials, equipment and other information furnished to BATC or BATC's
          personnel by EarthWatch in connection with or as a result of its
          performance under this Contract.

7.   Stop Work Period and Mechanism. Subject of the terms and conditions of this
     contract on or before September 20, 1998, due to certain EarthWatch
     financial limitations, it may be necessary for EarthWatch to direct BATC to
     suspend work as of October 1, 1998 as defined in Exhibit C, statement of
     work for a period not to exceed one hundred and fifty

                                                                               6
<PAGE>

     days (150) consecutive days or until March 1, 1999. The parties recognize
     that EarthWatch may in good faith, and not in default of the contract,
     require BATC to suspend work on all aspects of the contract, or stop work
     on the program with the specific exception of the instruments requirements.
     Should EarthWatch elect to proceed with the instrument, EarthWatch shall be
     obligated to continue to proceed with and pay for the instrument as
     otherwise required by this contract

     7.1  Monthly Service Charges. During the period of suspension, EarthWatch
          will pay to BATC pursuant to Article 4, "Payment Terms" a monthly
          service charge of $95,000. Each payment shall be made on the last day
          of each month of the suspension period. If work resumes during any
          month, BATC will credit EarthWatch against the next due payment, an
          amount equal to the adjusted pro rata amount for any partial month in
          which work is suspended.

     7.2  Stop Work Options. Subject to the terms and conditions of this
          contract, EarthWatch has three separate options concerning the stop
          work period.

          7.2.1  Resumption of the Project. EarthWatch may authorize resumption
          of work on the contract at any time prior to the close of business,
          March 1, 1999. If EarthWatch elects to authorize BATC to proceed and
          resume the contract, the price of the total contract not including
          monthly service charges will be increased in accordance with the
          schedule in Exhibit E.

          7.2.2  Telescope Option. On or before September 20, 1998, EarthWatch
          can notify BATC of its intent to exercise its option to purchase the
          following components as defined in the Statement of Work: the
          assembled telescope following one completed vibration test, one set of
          the Solid State Recorders, one set of Wide Band Transmitters, one High
          Gain Antenna, and one High Gain Antenna Gimbal and associated wide
          band radio frequency materials including subcontracted items. Delivery
          of these components shall occur on or before October 31, 1998. All
          milestone payments made during this contract shall count towards the
          payment for the telescope. The balance due, if any, shall be paid
          following the acceptance and delivery of the components. Fulfillment
          of this option will end the contractual obligations of the parties
          except for those duties related to warranty, intellectual property
          rights, and liability for intellectual property infringement. Amounts
          due shall bear interest at the rate of 15% per annum and BATC shall be
          entitled to collection including reasonable attorney fees.

          7.2.3  Instrument Option. On or before September 20, 1998, EarthWatch
          can notify BATC of its intent to exercise its option to purchase the
          following components as defined in the Statement of Work: the
          completely assembled and tested instrument consisting of the Ball
          provided telescope and the EarthWatch provided (through Kodak) Sensor
          Subsystem, one set of the Solid State Recorders, one set of Wide Band
          Transmitters with Radio Frequency material, one High Gain Antenna, and
          one High Gain Antenna Gimbal. Delivery of these components shall occur
          on or before March 30, 1999. All milestone payments made during this
          contract shall count towards the payment for the instrument. Remaining
          payments

                                                                               7
<PAGE>

          shall be paid per Exhibit E for the instrument option payment.
          Fulfillment of this option will end the contractual obligations of the
          parties except for those duties related to warranty, intellectual
          property rights, and liability for intellectual property infringement.

          7.2.4  Termination for Convenience. In the event that EarthWatch
          elects not to exercise the options noted in (S)(S)7.2.1 through 7.2.3,
          the contract will be treated as a termination for the convenience of
          EarthWatch in accordance with (S)6.3.

8.   Changes. In the event EarthWatch desires to change the scope of work, the
     delivery schedules, or any other term of the Contract, EarthWatch shall
     submit a detailed description of the requested change to BATC. BATC shall
     respond within 15 working days with its proposal for adjustments to the
     contract consideration, delivery schedule and other terms of the Contract.
     Upon mutual agreement on a new contract consideration, delivery schedule
     and other effected terms, the Contract shall be modified by a bilateral
     modification to incorporate the agreed change. A modification to this
     contract with a mutually agreed upon not to exceed price can be agreed upon
     to implement a change in advance of negotiation of price, schedule and
     other elements of the contract. BATC shall have no obligation to implement
     any change until the Contract has been so modified. However, BATC may
     implement any change requested by EarthWatch prior to the completion of the
     change negotiation. This decision shall not impair BATC's rights to
     additional consideration, schedule adjustment or modification of any other
     contract term.

     8.1  In the event EarthWatch creates a delay by failure to act in a timely
          manner, or by an action that in some way prevents or impedes BATC from
          making progress, including, but not limited to EarthWatch's failure to
          provide customer furnished equipment and/or services in accordance
          with the contract requirements, a bilateral adjustment shall be made
          under the provisions of this clause to the extent of the schedule
          delay that EarthWatch is specifically responsible for causing. In the
          event EarthWatch reasonably withholds acceptance and/or approvals, a
          delay shall not be deemed to have been caused by EarthWatch. In the
          event such withholding of acceptance and/or approvals is unreasonable,
          a delay shall be deemed to have been caused by EarthWatch to the
          extent that such an act is the predominant cause of the delay to the
          project schedule.

     8.2  The file management change to the Solid State Recorder (SSR) that was
          authorized under the Engineering Services Contract and the testing of
          the 9MHz input data rate will be incorporated into the scope of this
          Contract with no change to the price of QuickBird 1 or QuickBird 2.
          The task authorized under the Engineering Services Contract will be
          closed out without any charges for that task.

9.   EarthWatch Furnished Equipment and Services. EarthWatch will provide items
     and services at the BATC designated location(s) in accordance with the
     schedules set forth in EXHIBIT C Statement of Work. The contract deliveries
     and BATC's performance are based upon expectations that the EarthWatch
     furnished equipment and/or services are suitable for use and will be
     delivered in accordance with the schedule EXHIBIT C. If any of the
     equipment or services delivered are not in accordance with these
     expectations,

                                                                               8
<PAGE>

          BATC will advise EarthWatch of the specific problems within five
          business days after discovery of such defects. They will constitute a
          change that will be handled in accordance with the Changes clause.
          BATC cost impacts may include but not be limited to direct and
          indirect costs of the change, inefficiency, schedule extension, etc.;
          however, BATC will be obligated under these circumstances to develop a
          proposal that will optimize the cost and schedule impact of a change.
          From time to time during the performance of this Contract, EarthWatch
          may provide up to ten skilled engineers and/or technicians to augment
          the BATC labor force. Prior to assigning individuals, EarthWatch and
          BATC shall mutually agree on the skill mix and assignment of
          personnel. The assigned individuals shall be directed by BATC's
          Program Manager and Cost Account Manager(s). The assigned individuals
          shall be collocated with BATC's program personnel in Boulder,
          Colorado. The EarthWatch employees shall utilize computers provided by
          EarthWatch if required.

          9.1  In the event EarthWatch provides labor within the meaning of this
               article, it is understood that the EarthWatch employees assigned
               must be EarthWatch employees continuously from June 1998 to the
               time of the assignment to the Contract. EarthWatch shall provide
               an accounting of such support to BATC using BATC timesheet format
               and account number. Upon mutual review and agreement, the parties
               shall modify the Contract to adjust the price to recognize the
               application of EarthWatch resources.

          9.2  EarthWatch shall indemnify and hold harmless BATC for any cost or
               other impact due to actions of EarthWatch employees while
               performing within this clause. Such indemnification and hold
               harmless shall cover mistakes, negligence and any other risks to
               which BATC and/or EarthWatch may be exposed, including workmen's
               compensation and comprehensive liability insurance. BATC shall
               notify EarthWatch promptly upon identifying conduct of EarthWatch
               employees that could create the liabilities identified in this
               paragraph.

10.  Limitation of Liability. The contract value shall be the maximum limit of
     BATC's liability arising out of, or resulting from this contract or the
     performance or nonperformance or breach thereof. Liability shall attach to
     BATC up to the amount of payments received by BATC under this Contract. IN
     NO EVENT SHALL EITHER PARTY BE OBLIGATED IN ANY MANNER TO PAY INCIDENTAL,
     CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF
     PROFITS, OR EXEMPLARY DAMAGES TO THE OTHER PARTY.

11.  Technology Rights.
     ------------------

     11.1  Data Ownership. Data developed by BATC under this contract shall be
           and remain the property of BATC. Except for data provided per the
           Three Party Confidentiality Agreement (EXHIBIT F) which may or may
           not be the subject of a separate license agreement, EarthWatch is
           granted a license to use the data only on its own projects for
           collecting and distributing image products (data) and EarthWatch will
           not use or permit third parties to use data delivered by BATC by
           designing, developing, manufacturing or having manufactured
           spacecraft hardware

                                                                               9
<PAGE>

           or software for sale or distribution to or use by third parties.
           EarthWatch will not provide this data for use by a third party to
           produce an equivalent spacecraft system for EarthWatch's use.
           EarthWatch shall have the right to procure components for their use.
           EarthWatch shall have the right to provide third parties such BATC
           data as necessary for the direct reception of EarthWatch imagery
           products.

     11.2  Data Legend. Data delivered under this contract shall be marked with
           an appropriate legend which indicates that it is licensed to
           EarthWatch for EarthWatch's use so long as such use is within the
           purposes specified above and whether it is provided on an
           unrestricted basis.

     11.4  EarthWatch Developed Data. Subject to Section B4 of the Agreement
           dated 10/13/97, data developed by EarthWatch shall be and remain the
           property of EarthWatch. EarthWatch grants to BATC and BATC accepts a
           paid-up, nonexclusive, worldwide license to use as defined in Exhibit
           Six (6) of the Agreement dated 10/13/97 data which has been developed
           by EarthWatch.

     11.3  Future Licenses. Should BATC or EarthWatch desire to use the data
           which have been licensed for future applications, the parties shall
           negotiate license agreements as appropriate for such future
           applications.

     11.4  License To Use Data In The Event Of Termination Under Specific
           Circumstances. In the event of a termination of the contract under
           the contract article titled " Termination for Convenience of
           EarthWatch" which results from the most dire financial circumstances
           which force EarthWatch to decide to complete the QuickBird spacecraft
           without BATC involvement, or if BATC is terminated for default, BATC
           shall grant a limited royalty free license to use BATC data (whether
           or not deliverable data under the contract) required to complete the
           spacecraft and payload manufacture, integration and testing. Such
           license agreement shall be effective for QuickBird 1 only with the
           other specific terms of the license to be negotiated between the
           parties.

12.   Excusable Delays. Neither party shall be liable for default or delay
      caused by any occurrence beyond its reasonable control, including but not
      limited to fires, strikes or labor disputes, acts of God or of the public
      enemy, war, riot or civil commotion and govermnental control, regulation
      or permit and/or embargo. Financial condition or inability to pay shall
      not be an excusable delay. In the event BATC should be delayed in the
      completion of any portion of the work by reason of any occurrence
      identified as an excusable delay, the time within which the portion of the
      work is to be completed shall be extended by the period of such delay, but
      no such extension shall be made unless a notice with evidence thereof is
      presented by BATC to EarthWatch in writing in a timely manner after the
      occurrence of such delay. However, EarthWatch shall have the right to
      terminate this Contract for EarthWatch's Convenience under Section 7.3
      above if such extension is equal to or greater than one hundred eighty
      (180) days.

                                                                              10
<PAGE>

13.  Product Warranty Provisions. BATC DISCLAIMS ALL WARRANTIES, EXPRESS OR
     IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY AND
     FITNESS FOR A PARTICULAR PURPOSE. IN NO EVENT SHALL BATC BE LIABLE FOR
     DIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGES EVEN IF BATC HAS BEEN ADVISED
     OF SUCH DAMAGES.

     13.1 Repairs to Deliverables after completion of the shipment approval and
          preliminary acceptance will be completed on a mutually acceptable time
          and material basis.

14.  Compliance with Laws. BATC agrees that it will comply with all applicable
     federal, state and local laws, regulations and codes in effect in the USA
     as of the Effective Date, and throughout the duration of work under this
     Contract.

15.  Patent Indemnity. BATC will defend at its expense any legal proceeding
     brought against EarthWatch, to the extent that it is based on a claim that
     the design or use of any Deliverables under this Contract is a direct
     infringement of a U.S. copyright, or of a U.S. patent, and will pay all
     damages and costs awarded by a court of final appeal attributable to such
     claim, provided that EarthWatch: (i) provides Notice of the claim promptly
     to BATC; (ii) gives BATC sole control of the defense and settlement of
     same; (iii) provides to BATC all available information, assistance and
     authority to defend; and (iv) has not compromised or settled such
     proceeding without BATC's prior written consent.

     15.1 Should any Deliverables or any portion thereof become, or in BATC's
          opinion be likely to become the subject of a claim of infringement,
          BATC shall, at its own expense and as EarthWatch's sole and exclusive
          remedy, elect to: (i) obtain for EarthWatch the right to use such
          Deliverables; (ii) replace or modify the Deliverables so that they
          become non-infringing and still satisfy all other requirements of this
          Contract.

     15.2 BATC's liability under this clause, subject to Section 10, shall be
          limited to the value of the contract. In the event of termination,
          BATC's liability under this clause shall be limited proportionately to
          the amount paid to BATC by EarthWatch under this contract.

     15.3 BATC shall have no liability for any infringement or claim which
          results from (i) use of the Deliverables in combination with any non-
          BATC provided equipment, software or data, if such infringement would
          have been avoided by use of the Deliverables without such equipment,
          software, or data; or (ii) BATC compliance with designs of EarthWatch
          that when implemented results in such infringement.

     15.4 THIS ARTICLE STATES THE ENTIRE LIABILITY OF BATC WITH RESPECT TO
          INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS BY THE DELIVERABLES
          AND BATC SHALL HAVE NO ADDITIONAL LIABILITY WITH RESPECT TO ANY
          ALLEGED OR PROVEN INFRINGEMENT.

                                                                              11
<PAGE>

16.  General Provision.
     -----------------

     16.1 Public Release of Information. During the term of this Contract, each
          party shall seek the approval of the other at least 15 days prior to
          the release of information regarding this Contract, including, but not
          limited to, news releases, advertising materials, prepared speeches,
          external company reports, information shared with third parties, and
          other information releases concerning the work performed under this
          Contract, provided BATC shall be entitled to inform the public,
          customers or potential customers that EarthWatch is a customer of BATC
          for QuickBird. The use of either parties' corporate logos by the other
          party shall also require prior written approval. Such approvals shall
          not be unreasonably withheld.

          16.1.1 If the information to be released has been previously approved
                 or is already in the public domain, then no approval shall be
                 required. These restrictions shall not be construed to limit
                 either parties' disclosure of such information as required by
                 Federal, State, or local laws and regulations or courts of
                 competent jurisdiction, or as necessary to satisfy reporting
                 requirements to current or potential investors.

         16.1.2  Release of information regarding the existence of this contract
                 shall not require the prior approval of either party.

     16.2 Notices. All contractual correspondence, including notices, reports
          and documentation, shall be addressed as follows:

             BATC                              EARTHWATCH
             ----                              ----------
             BATC                              EarthWatch Incorporated
             P.O. Box 1062                     1900 Pike Road
             Boulder, CO 80306                 Longmont, CO 80503

             Attn.: T.H. Lapotosky             Attn.: Shawn Thompson
                    Director of Contracts             Director of Contracts
                    & Government Compliance
             Facsimile No.: 303-939-4656       Facsimile No.: 303-682-3848

             Either party may change these addresses for the receipt of the
             notices at any time by providing notice to the other party.

          16.2.1 Authorized Representatives: The only individuals authorized to
                 make changes to this Contract and to sign contract documents
                 are:

             BATC                              EARTHWATCH INC.
             ----                              ---------------
             E. L. Vande Noord                 Herbert F Satterlee III
             Senior Vice President and         Chief Executive Officer and
             General Manager                   President

             or                                or

                                                                              12
<PAGE>

                                                    Walter S. Scott
                                                    Chief Technical Officer

                                                    For Technical Concerns

             David Taylor                           Neal T. Anderson
             Vice President of Commercial Space     Senior Director - Space
             Operations                             Segment

             or
                                                    For Contractual Concerns
             T.H. Lapotosky                         Shawn R. Thompson
             Director of Contracts &                Director of Contracts
             Government Compliance

          16.2.2  Either party may change its authorized representatives at any
                  time by providing written notice to the other party.

     16.3 Governing Law. The validity, interpretation, and performance of this
          Contract shall be controlled by and construed under the laws of the
          State of Colorado. Both parties have agreed that for the purposes of
          this contract, venue shall be the County of Boulder, Colorado.

     16.4 Export: The data, hardware and software provided to EarthWatch under
          this Contract is subject to the prohibition limitations and laws
          regulating the export of technical data as specified in the Department
          of State International Traffic in Arms Regulations (22 CFR Parts 120
          through 130). EarthWatch shall be responsible for obtaining required
          Export Licenses and approvals. BATC will provide reasonable assistance
          in supporting EarthWatch efforts.

     16.5 Disputes. Any dispute or controversy arising out of, in connection
          with or in relation to this contract will be determined and settled on
          an informal basis if possible. To that end, each party shall have the
          right to meet with senior management of the other party in an attempt
          to resolve any dispute. If the dispute remains unresolved and after
          providing a 30 day notice of its intentions, either party may request
          resolution by arbitration. Arbitration shall be held in Longmont
          Colorado in accordance with the rules then prevailing of the American
          Arbitration Association. Arbitration may be conducted by one
          arbitrator by the mutual agreement of the parties or by three
          arbitrators if the parties cannot so agree, with each party choosing
          one arbitrator and the AAA choosing the third. Any award rendered
          therein will be conveyed in a written, reasoned opinion and shall be
          final and binding upon BATC and EarthWatch and may be entered thereon
          in the District Court of the State of Colorado for the County of
          Boulder.

     16.6 Attorneys Fees and Reasonable Costs. On any effort by BATC to collect
          money due under the terms of this contract, EarthWatch shall pay all
          costs of collection, including but not limited to attorney's fees. In
          any litigation, arbitration or court proceeding between the parties,
          the prevailing party will be entitled to recover, in

                                                                              13
<PAGE>

                addition to any other amounts awarded, attorneys' fees and all
                reasonable costs of proceedings incurred in enforcing this
                contract.

          16.7  Construction of Agreement. This contract has been negotiated by
                the respective parties hereto and the language of this Agreement
                shall not be construed for or against any party as a result of
                the party having drafted the contract.

          16.8  Remedies. The rights and remedies provided herein shall be
                cumulative and in addition to any other rights and remedies
                provided by law or equity.

          16.9  Order of Precedence. In the event of any conflict, the
                controlling document shall be determined by the following order
                of precedence:

                     This Contract and EXHIBITS A and E,
                     The Three Party Confidentiality Agreement between BATC,
                     EarthWatch, and Kodak, dated January 20, 1997, EXHIBIT F,
                     The Statement of Work, EXHIBIT C
                     The Specification, EXHIBIT D

          16.10 Assignment. Neither party may assign any rights or obligations
                hereunder without the prior express written consent of the
                other, except to a third party pursuant to a merger, sale of all
                or substantially all assets, or other corporate reorganization.
                However, either party may assign its rights and obligations to a
                wholly owned subsidiary. Should such assignment result in an
                increase in costs to the other party, that party may initiate a
                change request in accordance with the Changes Clause (8) of this
                Contract. Subject to the above restrictions on assignment, this
                Contract shall inure to the benefit of and bind the successors
                and assigns of the parties.

          16.11 Uniform Commercial Code. The provisions of the Uniform
                Commercial Code as adopted by the state of Colorado shall apply
                to the contract's service aspects to the same extent as the UCC
                applies to the products.

          16.12 EarthWatch Financial Data. EarthWatch agrees to provide to BATC
                monthly updates outlining the current status of EarthWatch's
                financial ability to adequately cover financial liabilities,
                including its existing and future obligations to BATC.

          16.13 Insurance. BATC shall furnish evidence of insurance coverage in
                the following amounts:

                     All Risk Policy for the BATC facility in Boulder, Colorado
                     to the full stated value of all components to be integrated
                     in QuickBird 1 & 2, if exercised, with EarthWatch listed as
                     loss payee as EarthWatch interests may appear. Workers
                     Compensation Insurance to the statutory limits Foreign
                     Workers Compensation Insurance with a limit of $1,000,000
                     with $100,000 of repatriation
                     Comprehensive General Liability of $1,000,000

                                                                              14
<PAGE>

                     Foreign General Liability of $1,000,000
                     Automobile Insurance of $1,000,000
                     Umbrella Coverage limited to $10 million in excess of
                     general liability, and employer's liability.

          BATC shall be responsible for all deductible costs.

          EarthWatch shall carry corresponding insurance coverage to cover BATC
          employees working at EarthWatch facilities.

          16.13.1 Recognizing that BATC is furnishing goods and services to
                  EarthWatch and BATC has no control over the use of such goods
                  and services in the combination with products, equipment, or
                  services performed by EarthWatch or third parties, as further
                  consideration for BATC's furnishing goods and services
                  hereunder, and to the extent permitted by law, EarthWatch
                  agrees to defend, indemnify and hold harmless Ball
                  Corporation, Ball Technologies Holdings Corp., BATC and their
                  officers, directors, employees and agents against any and all
                  losses, damages, suits or causes of action, resulting from any
                  injury to persons (including death) or damage to property of
                  EarthWatch or third parties, including economic loss, arising
                  out of or in any way connected with use of the Deliverables,
                  specifically excluding those resulting directly and solely
                  from BATC's negligence.

          16.13.2 To the extent that BATC's employees enter upon premises
                  occupied by or under the control of EarthWatch, or any of its
                  customers, or suppliers, in the course of the performance of
                  this Contract, BATC shall take all necessary precautions to
                  prevent the occurrence of any injury (including death) to any
                  such persons, and except to the extent that any such injury or
                  damage is due directly and solely to EarthWatch's negligence
                  shall indemnify, defend, and hold EarthWatch, its officers,
                  employees, and agents harmless from any and all costs, losses,
                  expense, damages, claims, suit, or any liability whatsoever,
                  including attorney's fees, arising out of claims by such
                  employees. BATC shall maintain worker's compensation and
                  employer's liability insurance covering all employees of BATC
                  engaged in the performance of this Contract for claims arising
                  under any applicable Worker's Compensation and Occupational
                  Disease Acts. BATC shall furnish certificates evidencing such
                  insurance which expressly provide that no expiration,
                  termination, or modification shall take place without thirty
                  (30) days written notice to EarthWatch.

     16.14  No Joint Venture. Nothing contained in this Contract shall be deemed
            or construed as creating a joint venture or partnership between the
            parties. Except as expressly set forth, no party is by virtue of
            this Contract authorized as an agent, employee or legal
            representative of any other party, and the relationship of the
            parties is, and at all times will continue to be, that of
            independent contractors.

                                                                              15
<PAGE>

     16.15  Severability. If any provisions of this Contract, or application
            thereof, shall for any reason and to any extent be invalid or
            unenforceable, the remainder of this Contract, and (if appropriate)
            such provision to other persons or circumstances, shall remain in
            full force and effect and be interpreted so as best to reasonably
            effect the intent of the parties thereto.

     16.16  No Waiver. The failure of any party to enforce any of the provisions
            of this Contract shall not be construed to be a waiver of the right
            of such party thereafter to enforce such provisions.

17.  Definitive Agreement. This Contract, once signed, constitutes a legally
     binding and enforceable obligation on the part of each of the parties
     hereto and their successors in interest, subject to the terms and
     conditions contained herein. This Contract may only be amended by a written
     instrument signed by the authorized representatives of the parties.

18.  Effectivity of Contract. This Contract becomes effective when two
     conditions have been satisfied: the execution of the Contract by both
     parties and the approval of the Contract by the EarthWatch Board of
     Directors.

19.  Entire Agreement. This Contract, including the EXHIBITS hereto constitute
     the entire understanding and contract of the parties with respect to their
     subject matter and supersedes all prior and contemporaneous agreements. By
     signing this Contract, each party represents to the other that it has the
     authority to sign this Contract and this Contract is enforceable against it
     in accordance with its terms.

                                                                              16
<PAGE>

                                   EXHIBIT B
                     OPTION TO PURCHASE ONE (1) ONE METER
                              SPACECRAFT SEGMENT

Price & Schedule
----------------

Assuming EarthWatch is otherwise in full compliance with the contract and no
stop work is in effect, BATC grants to EarthWatch an Option to Purchase One (1)
additional One Meter QuickBird Space Segment in accordance with the Terms and
Conditions of this Contract. EarthWatch will signify its exercise of this option
by providing BATC a signed and dated copy of this Exhibit on or before the close
of business of the last day of the expiration of the "Exercise Period" noted
below. The Firm Price and the associated delivery schedule is indicated below.

<TABLE>
<CAPTION>

Exercise
Period      Contract Start Date             Price             Delivery Schedule
--------    -------------------             -----             -----------------
<S>         <C>                          <C>                  <C>
No. 1       6/1/98 thru 12/15/98         $29,000,000            August 1, 2000
</TABLE>

Payment Schedule
----------------

Prior to exercise, EarthWatch and BATC shall negotiate detailed milestones
associated with the nominal payment schedule set forth below:

<TABLE>
<CAPTION>

Pay Date           Payment $
--------        --------------
<S>             <C>
1-Jan-99           2,900,000
1-Feb-99           2,900,000
1-Mar-99           2,900,000
1-Apr-99           2,900,000
1-May-99           2,900,000
1-Jun-99           1,500,000
1-Jul-99           1,500,000
1-Aug-99           1,300,000
1-Sep-99           1,300,000
1-Oct-99           1,300,000
1-Nov-99           1,300,000
1-Dec-99             700,000
1-Jan-00             700,000
1-Feb-00             700,000
1-Mar-00             700,000
</TABLE>
<PAGE>

<TABLE>
<S>                  <C>
1-Apr-00                 700,000
1-May-00                 700,000
1-Jun-00                 700,000
1-Jul-00               1,400,000
Total                $29,000,000
</TABLE>

EarthWatch Inc.

-------------------------      --------------------------
Name                           Date

-------------------------------
Signature
<PAGE>

                                   EXHIBIT C

[The Company has not filed this exhibit with the Commission because it contains
voluminous and highly technical data that the Company believes is not material
to investors.]

<PAGE>

                                   EXHIBIT D

[The Company has not filed this exhibit with the Commission because it contains
voluminous and highly technical data that the Company believes is not material
to investors.]

<PAGE>

                                   EXHIBIT E

                          PRICE AND PAYMENT SCHEDULE

Full ProJect Deliverables and Services Price
--------------------------------------------

The total fixed price for the Deliverables and Services for the first One (1)
Meter QuickBird Space Segment is $32,400,000. The price acknowledges the
payments made by EarthWatch under the letter contract that preceded this
Contract.

Telescope Option Price
----------------------

The total fixed price for the certain deliverables set forth in Article 7.2.2 is
$6,400,000.

Instrument Option Price
-----------------------

The total fixed price for the certain deliverables set forth in Article 7.2.3 is
$9,450,000.

Restart Prices
--------------

The total adjusted fixed price for the certain deliverables following the Stop
Work period as set forth in Article 7.2.4 is dependent on the date of
authorization to restart.

<TABLE>
<CAPTION>

                                                    Delivery-(calculated
Restart Dates                QB#1 Prices         from execution of contract)
<S>                          <C>                 <C>
10/02/98-11/01/98            $33,372,000                   18.50 mos.
11/02/98-12/01/98            $33,534,000                   19.75 mos.
12/02/98-01/01/99            $33,696,000                   21.00 mos.
01/02/99-02/01/99            $33,858,000                   22.25 mos.
02/02/99-03/01/99            $34,020,000                   23.50 mos.
</TABLE>

Payment Schedule
----------------

No. 1 Full Project Payment Schedule
The following Payment Schedule specifies the amount of the fixed price amount
that is due and payable for the contracted QuickBird Space Segment in accordance
with the payment terms and conditions in Articles 2 & 4. The milestone events
covering the first QuickBird Spacecraft are noted below:

<PAGE>

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
          Pay                                                                   Milestone      Total         Cum.
         Date                                Description                           Value       Payment      Payment
--------------------------------------------------------------------------------------------------------------------
<S>     <C>            <C>                                                     <C>          <C>          <C>
0       6/9/98 a       Full set of optics received                             $  400,000   $1,200,000   $ 1,200,000
--------------------------------------------------------------------------------------------------------------------
               b       RWAs received                                           $  400,000
--------------------------------------------------------------------------------------------------------------------
               c       Primary & secondary optics bonded to optical mount      $  400,000   $1,250,000   $ 2,450,000
--------------------------------------------------------------------------------------------------------------------
1      6/30/98 a       Spacecraft Test Requirement Document initial release    $  400,000
--------------------------------------------------------------------------------------------------------------------
               b       Optical bench preps complete                            $  400,000
--------------------------------------------------------------------------------------------------------------------
               c       Full set of optical mounts complete                     $  400,000
--------------------------------------------------------------------------------------------------------------------
               d       GPS Receiver order placed                               $   50,000
--------------------------------------------------------------------------------------------------------------------
2      7/31/98 a       Bus Structure complete (inserts & painting)             $  450,000   $1,250,000   $ 3,700,000
--------------------------------------------------------------------------------------------------------------------
               b       Solid State Recorders complete                          $  400,000
--------------------------------------------------------------------------------------------------------------------
               c       RF box Engineering Models received                      $  400,000
--------------------------------------------------------------------------------------------------------------------
3      8/31/98 a       Primary/Secondary telescope roll test complete          $  450,000   $1,250,000   $ 4,950,000
--------------------------------------------------------------------------------------------------------------------
               b       Power boxes complete (Battery, PDA, PCU)                $  400,000
--------------------------------------------------------------------------------------------------------------------
               c       Command & Telemetry Unit received                       $  400,000
--------------------------------------------------------------------------------------------------------------------
4      9/30/98 a       Telescope Assy Complete (mirror pins staked)            $  450,000   $1,250,000   $ 6,200,000
--------------------------------------------------------------------------------------------------------------------
               b       Propulsion module complete                              $  400,000
--------------------------------------------------------------------------------------------------------------------
               c       Gimbal received                                         $  400,000
--------------------------------------------------------------------------------------------------------------------
5     10/31/98 a       Telescope Vibration test complete                       $  850,000   $5,650,000   $11,850,000
--------------------------------------------------------------------------------------------------------------------
               b       Stim Lamp complete                                      $  800,000
--------------------------------------------------------------------------------------------------------------------
               c       RF box set (XWBT, XNBT, SBR) received                   $  800,000
--------------------------------------------------------------------------------------------------------------------
               d       Wideband data interface EM test complete (SSS
                       simulator, SSR, & VVBT)                                 $  800,000
--------------------------------------------------------------------------------------------------------------------
               e       Phase 1 & 2 harness complete                            $  800,000
--------------------------------------------------------------------------------------------------------------------
               f       Structure preps complete (heaters, thermistors)         $  800,000
--------------------------------------------------------------------------------------------------------------------
               g       Spacecraft Computer received                            $  800,000
--------------------------------------------------------------------------------------------------------------------
6    11/30/98  a       Telescope Thermal cycle test complete                   $  850,000   $5,650,000   $17,500,000
--------------------------------------------------------------------------------------------------------------------
               b       Instrument radiator thermal test complete               $  800,000
--------------------------------------------------------------------------------------------------------------------
               c       Phase 3, 4, & 5 harness complete                        $  800,000
--------------------------------------------------------------------------------------------------------------------
               d       Deployable cover & sunshade complete                    $  800,000
--------------------------------------------------------------------------------------------------------------------
               e       STOC certified                                          $  800,000
--------------------------------------------------------------------------------------------------------------------
               f       Initial Spacecraft Power on                             $  800,000
--------------------------------------------------------------------------------------------------------------------
               g       Flight software loaded into software test bench         $  800,000
--------------------------------------------------------------------------------------------------------------------
7     12/31/98 a       Fliqht Software (thru FQT) loaded into SCC              $  550,000   $1,100,000   $18,600,000
--------------------------------------------------------------------------------------------------------------------
               b       Telescope ready for SSS integration                     $  550,000
--------------------------------------------------------------------------------------------------------------------
8      1/31/99 a       SSS & SSR functional test complete                      $  500,000   $1,550,000   $20,150,000
--------------------------------------------------------------------------------------------------------------------
               b       Mid deck integration complete (RWAs & torquers)         $  500,000
--------------------------------------------------------------------------------------------------------------------
               c       Sensor subsystem simulator integration complete         $  550,000
--------------------------------------------------------------------------------------------------------------------
9      2/28/99 a       Focal Plane, installed, aligned & staked                $  550,000   $1,550,000   $21,700,000
--------------------------------------------------------------------------------------------------------------------
               b       Star tracker electrical integration complete (on bus)   $  500,000
--------------------------------------------------------------------------------------------------------------------
               c       SAD/HDRS integration complete                           $  500,000
--------------------------------------------------------------------------------------------------------------------
10     3/31/99 a       Instrument SNR Measurement complete                     $  500,000   $1,000,000   $22,700,000
--------------------------------------------------------------------------------------------------------------------
               b       Instrument ready to integrate into bus                  $  500,000
--------------------------------------------------------------------------------------------------------------------
11     4/30/99 a       Bus ready for instrument integration                    $  500,000   $1,000,000   $23,700,000
--------------------------------------------------------------------------------------------------------------------
               b       Instrument Installation complete                        $  500,000
--------------------------------------------------------------------------------------------------------------------
12     5/31/99 a       Instrument integration complete                         $  500,000   $1,000,000   $24,700,000
--------------------------------------------------------------------------------------------------------------------
               b       System baseline performance tests completed
                        successfully                                           $  500,000
--------------------------------------------------------------------------------------------------------------------
13     6/30/99 a       Complete thermal blanket installation                   $  500,000   $1,000,000   $25,700,000
--------------------------------------------------------------------------------------------------------------------
               b       Start Thermal Vac test                                  $  500,000
--------------------------------------------------------------------------------------------------------------------
14     7/31/99 a       Successfully complete Thermal Vacuum Test               $  500,000   $1,000,000   $26,700,000
--------------------------------------------------------------------------------------------------------------------
               b       Complete Solar array installation                       $  500,000
--------------------------------------------------------------------------------------------------------------------
15     8/31/99 a       Successfully complete End to End Compatability test     $  500,000   $1,000,000   $27,700,000
--------------------------------------------------------------------------------------------------------------------
               b       Successfully complete Vibration Test                    $  500,000
--------------------------------------------------------------------------------------------------------------------
16     9/30/99 a       Successfully complete acoustic test                     $  500,000   $1,000,000   $28,700,000
--------------------------------------------------------------------------------------------------------------------
               b       Successfully complete post environmental deployment     $  500,000
--------------------------------------------------------------------------------------------------------------------
17    10/31/99 a       Spacecraft Ready to ship                                $3,000,000   $3,000,000   $31,700,000
--------------------------------------------------------------------------------------------------------------------
18    11/30/99 a       Spacecraft ready for launch                             $  350,000   $  350,000   $32,050,000
--------------------------------------------------------------------------------------------------------------------
19    12/31/99 a       Completion of In-Orbit test                             $  350,000   $  350,000   $32,400,000
====================================================================================================================
</TABLE>

<PAGE>

No. 2 Telescope Option Payment Schedule consists of payments made for the Full
Project in accordance with the payment terms and conditions in Articles 2 & 4.
A final payment of the balance due up to the total fixed price set forth above
will be made on delivery of the telescope.

No. 3 Instrument Option Payment Schedule consists of payments made for the Full
Project in accordance with the payment terms and conditions in Articles 2 & 4.
Detailed milestones for the balance due will be negotiated following the
selection of this option. The nominal payments for the balance due shall be as
follows:

<TABLE>
<CAPTION>

          Due Date                Amount $
          --------                --------
          <S>                     <C>
          10/31/98                550,000
          11/30/98                500,000
          12/31/98                500,000
          1/31/99                 500,000
          2/28/99                 500,000
          3/31/99                 500,000

</TABLE>
<PAGE>

                                  AMENDMENT 1

                                      to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

          EARTHWATCH, INC. AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment incorporates the following changes to the Contract.

     Article 7     Stop Work Period and Mechanism

     Article 7.2.2 Telescope Option

     Article 7.2.3 Instrument Option

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives as of Friday, September 18,
1998.

EARTHWATCH, INCORPORATED

By:  /s/ Shawn Thompson                               9/18/98
   ------------------------------                     -------------------------
                                                      Date

BALL AEROSPACE SYSTEMS DIVISION

By:  /s/ T.H. Lapotosky                               9/17/98
   ------------------------------                     -------------------------
                                                      Date
<PAGE>

Amendment Number 1
Contract Number SE.1M.PRJ.0004A
Page 2

ARTICLE 7. Stop Work Period and Mechanism. Change "September 20, 1998" in the
second line to read "September 23, 1998."

ARTICLE 7.2.2 Telescope Option. Change "September 20, 1998" in the first line to
read "September 23, 1998."

ARTICLE 7.2.3 Instrument Option. Change "September 20, 1998" in the first line
to read "September 23, 1998."

<PAGE>

                                  AMENDMENT 2

                                      to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

          EARTHWATCH, INC. AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment incorporates the following changes to the Contract

Exhibit A - To Contract for the EarthWatch Project One QuickBird Space Segment
Terms and Conditions

           . Article 7, Stop Work Period and Mechanism
           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Option to Purchase One (1) One Meter Space Segment

           . Price and Schedule
           . Payment Schedule

Exhibit C - Statement of Work - Doc. No. SE.1M.PRJ.002 Dated May 28, 1998

           . Attachment 2; Customer Furnished Equipment List

Exhibit E - Price and Payment Schedule

           . Full Project Deliverables and Services Price
           . Telescope Option Price
           . Instrument Option Price
           . Restart Price
           . Payment Schedule

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives as of Friday, September 18,
1998.
<PAGE>

Amendment No. 2
Page 2 of 2

EARTHWATCH, INCORPORATED

By:  /s/ Herbert F. Satterlee III                 9/23/98
   ------------------------------------           ---------------------------
                                                  Date

BALL AEROSPACE SYSTEMS DIVISION

By:  /s/ T.H. Lapotosky                           9/23/98
   ------------------------------------           ---------------------------
   T.H. Lapotosky                                 Date
   Director, Contracts & Government Compliance

<PAGE>

     EXHIBIT A TO CONTRACT FOR THE EARTHWATCH PROJECT ONE QUICKBIRD SPACE
                         SEGMENT TERMS AND CONDITIONS

 .  Article 7, Stop Work Period and Mechanism: Change the First Sentence to read:
   "Subject to the terms and conditions of this contract on or before November
   16, 1998, due to certain EarthWatch financial limitations, it may be
   necessary for EarthWatch to direct BATC to suspend work as well as suspend
   payments as of November 30, 1998 (including the payment of $4,4000,000 due
   November 30, 1998) as defined in Exhibit C, Statement of Work for a period
   not to exceed ninety (90) consecutive days or until March 1, 1999."

 .  Article 7.2.2, Telescope Option: Change the first and second sentences to
   read: "On or before November 16, 1998, EarthWatch can notify BATC of its
   intent to exercise its option to purchase the following components as defined
   in the Statement of Work: the assembled telescope following one completed
   vibration test, one set of the Solid State Recorders, one set of Wide Band
   Transmitters, one High Gain Antenna, one High Gain Antenna and Gimbal with
   associated wide band radio frequency materials including Subcontracted items,
   one set of "S" Band Receivers and one set of "X-Narrow" Band Transmitters.
   Delivery of these components shall occur on or before December 30, 1998."

 .  Article 7.2.3, Instrument Option: Change the first and second sentences to
   read: "On or before November 16, 1998, EarthWatch can notify BATC of its
   intent to exercise its option to purchase the following components as defined
   in the Statement of Work: the telescope and the EarthWatch provided (through
   Kodak) Sensor Subsystem, one set of Solid State Recorders, one set of Wide
   Band Transmitters with Radio Frequency material, one High Gain Antenna, one
   High Gain Antenna Gimbal, one set of "S" Band Receivers and one set of "X-
   Narrow" Band Transmitters. Delivery of these components shall occur on or
   before April 30, 1999."

      EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

 .  Price and Schedule: Change the Contract Start Date and Price as follows:
     Contract Start Date: 6/1/98 thru 11/16/98
     Price: @ $28,880,000

 .  Payment Schedule:  Change "1 Feb 99" payment to read @ $2,780,000.
                      Change the "Total" to read @ $28,880,000.

    EXHIBIT C - STATEMENT OF WORK EARTHWATCH QUICKBIRD SATELLITE DATED
                      MAY 28, 1998 DOC. NO. SE.1M.PRJ.002

 .  Attachment 2, Customer Furnished Equipment List: Change Item "Sensor
   Subsystem SOW Ref. 10.2.2. "S/C delivery date to read "01/29/99."

<PAGE>

                    EXHIBIT E - PRICE AND PAYMENT SCHEDULE

 . Full Project Deliverables and Services Price: Change the first sentence to
  read: "The total fixed price for the Deliverables and Services for the first
  One (1) Meter QuickBird Space Segment is $32,710,000.

 . Telescope Option Price: Change to read: "The total fixed price for the
  certain deliverables set forth in Article 7.2.2 is $8,800,000.

 . Instrument Option Price: Change to read: "The total fixed price for the
  certain deliverables set forth in Article 7.2.3 is $11,850,000.

 . Restart Prices: Change as follows:

<TABLE>
<CAPTION>
                                                                       Delivery (calculated from
           Restart Dates                QB #1 Prices                     execution of Contract)
           -------------                ------------                   -------------------------
         <S>                            <C>                             <C>
         12/01/98 - 01/04/99            $33,691,300                             18.50 mos.
         01/05/99 - 02/01/99            $33,854,850                             19.75 mos.
         02/02/99 - 03/01/99            $34,018,400                             21.00 mos.
</TABLE>

 . No. 3 Instrument Option Payment Schedule: Change as follows:

<TABLE>
<CAPTION>
               Due Date                    Amount $
               --------                    --------
               <S>                         <C>
               11/30/98                    $650,000
               12/31/98                    $650,000
               01/31/99                    $650,000
               02/28/99                    $650,000
               03/31/99                    $650,000
</TABLE>

 . Substitute the attached revised SE.1M.PRJ.0004.A, dated September 23, 1998
  payment milestone schedule for SE.1M.PRJ.0004.A dated June 4,1998 schedule.

<PAGE>

                                                   SE.lM.PRJ.0004.A
                                                   Dated September 23, 1998
                                                   Page 1 of 2

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------
       Pay Date                     Description                    Milestone     Total         Cumm
                                                                     Value      Payment      Payment
-------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------
<S>   <C>        <C><C>                                            <C>         <C>         <C>
0     6/9/98     a  Full set of optics received                    $  400,000  $1,200,000   $ 1,200,000
-------------------------------------------------------------------------------------------------------
                 b  RWAs received                                  $  400,000
-------------------------------------------------------------------------------------------------------
                 c  Primary & secondary optics bonded to optical   $  400,000
                    mounts
-------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------
1     6/30/98    a  Spacecraft Test Requirement Document initial   $  400,000  $1,250,000   $ 2,450,000
                    release
-------------------------------------------------------------------------------------------------------
                 b  Optical bench preps complete                   $  400,000
-------------------------------------------------------------------------------------------------------
                 c  Full set of optical mounts complete            $  400,000
-------------------------------------------------------------------------------------------------------
                 d  GPS Receiver order placed                      $   50,000
-------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------
2     7131/98    a  Bus Structure complete (inserts & painting)    $  450,000  $1,250,000   $ 3,700,000
-------------------------------------------------------------------------------------------------------
                 b  Solid State Recorders complete                 $  400,000
-------------------------------------------------------------------------------------------------------
                 c  RF box Engineering Models received             $  400,000
-------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------
3     8/31/98    a  Primary/Secondary telescope roll test          $  450,000  $1,250,000   $ 4,950,000
                    complete
-------------------------------------------------------------------------------------------------------
                 b  Power boxes complete (Battery, PDA, PCU)        $ 400,000
-------------------------------------------------------------------------------------------------------
                 c  Command & Telemetry Unit received              $  400,000
-------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------
4     9/30/98    a  Telescope Assy Complete (mirror pins           $  450,000  $1,250,000   $ 6,200,000
                    staked)
-------------------------------------------------------------------------------------------------------
                 b  Propulsion module complete                     $  400,000
-------------------------------------------------------------------------------------------------------
                 c  Gimbal received                                $  400,000
-------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------
5    10/31/98    a  Telescope Vibration test complete              $  350,000  $2,400,000   $ 8,600,000
-------------------------------------------------------------------------------------------------------
                 b  Stim Lamp complete                             $  350,000
-------------------------------------------------------------------------------------------------------
                 c  RF box set (XWBT, XNBT, SBR) received          $  300,000
-------------------------------------------------------------------------------------------------------
                 d  Wideband data interface EM test complete       $  350,000
                    (SSS simulator, SSR, & WBT)
-------------------------------------------------------------------------------------------------------
                 e  Phase 1 & 2 harness complete                   $  350,000
-------------------------------------------------------------------------------------------------------
                 f  Structure preps complete (heaters,             $  350,000
                    thermistors)
-------------------------------------------------------------------------------------------------------
                 g  Spacecraft Computer received                   $  350,000
-------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------
6    11/30/98    a  Telescope Thermal cycle test complete          $  650,000  $4,400,000   $13,000,000
-------------------------------------------------------------------------------------------------------
                 b  Instrument radiator thermal test complete      $  650,000
-------------------------------------------------------------------------------------------------------
                 c  Phase 3, 4, & 5 harness complete               $  650,000
-------------------------------------------------------------------------------------------------------
                 d  Deployable cover & sunshade complete           $  650,000
-------------------------------------------------------------------------------------------------------
                 e  STOC certified                                 $  600,000
-------------------------------------------------------------------------------------------------------
                 f  Initial Spacecraft Power on                    $  600,000
-------------------------------------------------------------------------------------------------------
                 g  Flight software loaded into software test      $  600,000
                    bench
-------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------
7     2/31198    a  Flight Software (thru FQT) loaded into SCC     $1,150,000  $5,650,000   $18,650,000
-------------------------------------------------------------------------------------------------------
                 b  Telescope ready for SSS integration            $1,150,000
-------------------------------------------------------------------------------------------------------
                 c  Telescope vacuum dryout complete               $1,150.000
-------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

                                                        SE.lM.PRJ.0004.A
                                                        Dated September 23, 1998
                                                        Page 2 of 2

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
<S>  <C>         <C><C>                                                 <C>           <C>          <C>
                 d  Complete EPDS integration                           $1,100,000
---------------------------------------------------------------------------------------------------------------
                 e  SCC integration complete                            $1,100,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
8     1/31/99    a  SSS & SSR functional test complete                  $  500,000    $1,810,000   $ 20,460,000
---------------------------------------------------------------------------------------------------------------
                 b  Mid deck integration complete (RWAs &               $  500,000
                    torquers)
---------------------------------------------------------------------------------------------------------------
                 c  Sensor subsystem simulator integration              $  550,000
                    complete
---------------------------------------------------------------------------------------------------------------
                 d  Complete telescope thermal blanket                  $  260,000
                    installation
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
9     2/28/99    a  Focal Plane, installed, aligned & staked            $  550,000    $1,550,000   $ 22,010,000
---------------------------------------------------------------------------------------------------------------
                 b  Star tracker electrical integration complete (on    $  500,000
                    bus)
---------------------------------------------------------------------------------------------------------------
                 c  SAD/HDRS integration complete                       $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
10    3/31/99    a  Instrument SNR Measurement complete                 $  500,000    $1,000,000   $ 23,010,000
---------------------------------------------------------------------------------------------------------------
                 b  Instrument ready to integrate into bus              $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
11    4/30/99    a  Bus ready for instrument integration                $  500,000    $1,000,000   $ 24,010,000
---------------------------------------------------------------------------------------------------------------
                 b  Instrument Installation complete                    $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
12    5/31/99    a  Instrument integration complete                     $  500,000    $1,000,000   $ 25,010,000
---------------------------------------------------------------------------------------------------------------
                 b  System baseline performance tests                   $  500,000
                    completed successfully
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
13    6/30/99    a  Complete thermal blanket installation               $  500,000    $1,000,000   $ 26,010,000
---------------------------------------------------------------------------------------------------------------
                 b  Start Thermal Vac test                              $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
14    7/31/99    a  Successfully complete Thermal Vacuum Test           $  500,000    $1,000,000   $ 27,010,000
---------------------------------------------------------------------------------------------------------------
                 b  Complete Solar array installation                   $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
15    8/31/99    a  Successfully complete End to End                    $  500,000    $1,000 000   $ 28,010,000
                    Compatability test
---------------------------------------------------------------------------------------------------------------
                 b  Sucessfully complete Vibration Test                 $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
16    9/30/99    a  Successfully complete acoustic test                 $  500,000    $1,000,000   $ 29,010,000
---------------------------------------------------------------------------------------------------------------
                 b  Successfully complete post environmental            $  500,000
                    deployment tests
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
17   10/31/99    a  Spacecraft Ready to ship                            $3,000,000    $3,000,000   $ 32,010,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
18   11/30/99    a  Spacecraft ready for launch                         $  350,000    $ 350,000    $ 32,360,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
19   12/31/99    a  Completion of In-Orbit test                         $  350,000    $ 350,000    $ 32,710,000
---------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                                   AMENDMENT 3
                                       to
                           CONTRACT SE.1M.PRJ.004.A
                                    between
       EARTHWATCH INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.
                                    for the
                       CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the QuickBird "Narrow Band
Modulation Indexing." This activity shall be performed for a firm fixed price as
noted in Exhibit E.

This amendment incorporates revisions to the following documents:

Exhibit D - Specification, Spacecraft Bus and Instrument, EarthWatch QuickBird
            Spacecraft, Doc. No. SE.lM.PRJ.003

        .  Telemetry Modulation Indices
        .  Telemetry Downlink Attenuation

Exhibit E - Price and Payment Schedule

        .  Full Project Deliverables and Service Price
        .  Telescope Option Price
        .  Instrument Option Price
        .  Restart Price
        .  Payment Schedule

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH INCORPORATED

By:  /s/ Herbert F. Satterlee III                             10/12/98
    -------------------------------------------           -----------------
         Herbert F. Satterlee III                         Date
         Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

By:  /s/ T.H. Lapotosky                                       11/17/98
    -------------------------------------------           -----------------
         T.H. Lapotosky                                   Date
         Director, Contracts and Government
         Compliance

<PAGE>

                                                           Amendment 3 to
                                                   Contract IM.PRJ.0004.A

                    EXHIBIT E - PRICE AND PAYMENT SCHEDULE

Full Project Deliverables and Services Price
--------------------------------------------

Change the first sentence to read:

    The total fixed price for the Deliverables and Services for the first One
    (1) Meter QuickBird Space Segment is $32,786,000.

Telescope Option Price
----------------------

Delete and replace as follows:

     The total fixed price for the certain deliverables set forth in Article
     7.2.2 is $8,876,000.

Instrument Option Price
-----------------------

Delete and replace as follows:

     The total fixed price for the certain deliverables set forth in Article
     7.2.3 is $11,926,000.

Restart Prices
--------------

<TABLE>
<CAPTION>

                                                     Delivery (calculated from
         Restart Dates              QB # 1 Prices    execution of Contract)
         -------------              -------------    -------------------------
       <S>                          <C>              <C>
       12/01/98 - 01/04/99           $33,767,300         18.50 mos.
       01/05/99 - 02/01/99           $33,930,850         19.75 mos.
       02/02/99 - 03/01/99           $34,094,400         21.00 mos.
</TABLE>

Payment Schedule
----------------

Delete the SE.1M.PRJ.004.A, dated September 23, 1998 payment milestone schedule
and replace with the attached SE.1M.PRJ.004.A, dated October 12, 1998 schedule.
<PAGE>

                                                                SE.1M.PRJ.0004.A
                                                          Dated October 12, 1998
                                                                     Page 1 of 2

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------
 Item      Pay     Item                                                      Milestone      Total         Cum
   #       Date    Line                    Description                         Value       Payment      Payment
=================================================================================================================
<S>        <C>     <C>    <C>                                               <C>          <C>          <C>
0          6/9/98  a      Full set of optics received                       $  400,000   $1,200,000   $ 1,200,000
-----------------------------------------------------------------------------------------------------------------
                   b      RWAs received                                     $  400,000
-----------------------------------------------------------------------------------------------------------------
                   c      Primary & secondary optics bonded to optical      $  400,000
                          mounts
-----------------------------------------------------------------------------------------------------------------
1         6/30/98  a      Spacecraft Test Requirement Document initial      $  400,000   $1,250,000   $ 2,450,000
                          release
-----------------------------------------------------------------------------------------------------------------
                   b      Optical bench preps complete                      $  400,000
-----------------------------------------------------------------------------------------------------------------
                   c      Full set of optical mounts complete               $  400,000
-----------------------------------------------------------------------------------------------------------------
                   d      GPS Receiver order placed                         $   50,000
-----------------------------------------------------------------------------------------------------------------
2         7/31/98  a      Bus Structure complete (inserts & painting)       $  450,000   $1,250,000   $ 3,700,000
-----------------------------------------------------------------------------------------------------------------
                   b      Solid State Recorders complete                    $  400,000
-----------------------------------------------------------------------------------------------------------------
                   c      RF box Engineering Models received                $  400,000
-----------------------------------------------------------------------------------------------------------------
3         8/31/98  a      Primary/Secondary telescope roll test complete    $  450,000   $1,250,000   $ 4,950,000
-----------------------------------------------------------------------------------------------------------------
                   b      Power boxes complete (Battery, PDA. PCU)          $  400,000
-----------------------------------------------------------------------------------------------------------------
                   c      Command & Telemetry Unit received                 $  400,000
-----------------------------------------------------------------------------------------------------------------
4         9/30/98  a      Telescope Assy Complete (mirror pins staked)      $  450,000   $1,250,000   $ 6,200,000
-----------------------------------------------------------------------------------------------------------------
                   b      Propulsion module complete                        $  400,000
-----------------------------------------------------------------------------------------------------------------
                   c      Gimbal received                                   $  400,000
-----------------------------------------------------------------------------------------------------------------
5        10/31/98  a      Telescope Vibration test complete                 $  350,000   $2,476,000   $ 8,676,000
-----------------------------------------------------------------------------------------------------------------
                   b      Stim Lamp complete                                $  350,000
-----------------------------------------------------------------------------------------------------------------
                   c      RF box set (XWBT, XNBT, SBR) received             $  300,000
-----------------------------------------------------------------------------------------------------------------
                   d      Wideband data interface EM test complete (SSS     $  350,000
                          simulator, SSR, & WBT)
-----------------------------------------------------------------------------------------------------------------
                   e      Phase 1 & 2 harness complete                      $  350,000
-----------------------------------------------------------------------------------------------------------------
                   f      Structure preps complete (heaters, thermistors)   $  350,000
-----------------------------------------------------------------------------------------------------------------
                   g      Spacecraft Computer received                      $  350,000
-----------------------------------------------------------------------------------------------------------------
                   h      Narrow Band Modulation Indexing                   $   76,000
-----------------------------------------------------------------------------------------------------------------
6        11/30/98  a      Telescope Thermal cycle test complete             $  650,000   $4,400,000   $13,076,000
-----------------------------------------------------------------------------------------------------------------
                   b      Instrument radiator thermal test complete         $  650,000
-----------------------------------------------------------------------------------------------------------------
                   c      Phase 3, 4, & 5 harness complete                  $  650,000
-----------------------------------------------------------------------------------------------------------------
                   d      Deployable cover & sunshade complete              $  650,000
-----------------------------------------------------------------------------------------------------------------
                   e      STOC certified                                    $  600,000
-----------------------------------------------------------------------------------------------------------------
                   f      Initial Spacecraft Power on                       $  600,000
-----------------------------------------------------------------------------------------------------------------
                   g      Flight software loaded into software test bench   $  600,000
-----------------------------------------------------------------------------------------------------------------
7        12/31/98  a      Flight Software (thru FQT) loaded into SCC        $1,150,000   $5,650,000   $18,726,000
-----------------------------------------------------------------------------------------------------------------
                   b      Telescope ready for SSS integration               $1,150,000
-----------------------------------------------------------------------------------------------------------------
                   c      Telescope vacuum dryout complete                  $1,150,000
-----------------------------------------------------------------------------------------------------------------
                   d      Complete EPDS integration                         $1,100,000
-----------------------------------------------------------------------------------------------------------------
                   e      SCC integration complete                          $1,100,000
=================================================================================================================
</TABLE>

<PAGE>

                                                                SE.IM.PRJ.0004.A
                                                          Dated October 12, 1998
                                                                     Page 2 of 2

<TABLE>
<CAPTION>
Item    Pay   Line                         Milestone      Total          Cum
  #    Date   Item      Description          Value       Payment        Payment
--------------------------------------------------------------------------------
<S> <C>       <C>   <C>                   <C>          <C>          <C>
8    1/31/99   a    SSS & SSR
                    functional test
                    complete               $  500,000   $1,810,000   $20,536,000
--------------------------------------------------------------------------------
               b    Mid deck
                    integration
                    complete (RWAs &       $  500,000
--------------------------------------------------------------------------------
               c    Sensor subsystem
                    simulator
                    integration complete   $  550,000
--------------------------------------------------------------------------------
               d    Complete telescope
                    thermal blanket
                    installation           $  260,000
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

9    2/28/99   a    Focal Plane,
                    installed, aligned
                    & staked               $  550,000   $1,550,000   $22,086,000
--------------------------------------------------------------------------------
               b    Star tracker
                    electrical
                    integration
                    complete (on           $  500,000
--------------------------------------------------------------------------------
               c    SAD/HDRS
                    integration complete   $  500,000
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

10   3/31/99   a    Instrument SNR
                    Measurement complete   $  500,000   $1,000,000   $23,086,000
--------------------------------------------------------------------------------
               b    Instrument ready to
                    integrate into bus     $  500,000
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

11   4/30/99   a    Bus ready for
                    instrument
                    integration            $  500,000   $1,000,000   $24,086,000
--------------------------------------------------------------------------------
               b    Instrument
                    Installation
                    complete               $  500,000
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

12   5/31/99   a    Instrument
                    integration complete   $  500,000   $1,000,000   $25,086,000
--------------------------------------------------------------------------------
               b    System baseline
                    performance tests
                    completed
                    successfully           $  500,000
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

13   6/30/99   a    Complete thermal
                    blanket installation   $  500,000   $1,000,000   $26,086,000
--------------------------------------------------------------------------------
               b    Start Thermal Vac
                    test                   $  500,000
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

14   7/31/99   a    Successfully
                    complete Thermal
                    Vacuum Test            $  500,000   $1,000,000   $27,086,000
--------------------------------------------------------------------------------
               b    Complete Solar
                    array installation     $  500,000
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

15   8/31/99   a    Successfully
                    complete End to End
                    Compatability
                    test                   $  500,000   $1,000,000   $28,086,000
--------------------------------------------------------------------------------
               b    Successfully
                    complete Vibration
                    Test                   $  500,000
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

16   9/30/99   a    Successfully
                    complete acoustic
                    test                   $  500,000   $1,000,000   $29,086,000
--------------------------------------------------------------------------------
               b    Successfully
                    complete post
                    environmental
                    deployment tests       $  500,000
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

17  10/31/99   a    Spacecraft Ready to
                    ship                   $3,000,000   $3,000,000   $32,086,000
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

18  11/30/99   a    Spacecraft ready
                    for launch             $  350,000   $  350,000   $32,436,000
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------

19  12/31/99   a    Completion of
                    In-Orbit test          $  350,000   $  350,000   $32,786,000
--------------------------------------------------------------------------------
</TABLE>
<PAGE>

                                                           SE.1M.PRJ.0004.A
                                                     Dated October 12, 1998
                                                                Page 1 of 2
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
 Item      Pay     Line                                                     Milestone        Total         Cum
   #       Date    Item                    Description                        Value         Payment      Payment
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
<S>      <C>       <C>   <C>                                               <C>          <C>          <C>
0        6/9/98     a    Full set of optics received                       $  400,000   $1,200,000   $ 1,200,000
-------------------------------------------------------------------------------------------------------------------
                    b    RWAs received                                     $  400,000
-------------------------------------------------------------------------------------------------------------------
                    c    Primary & secondary optics bonded to optical      $  400,000
                         mounts
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
1        6/30/98    a    Spacecraft Test Requirement Document initial      $  400,000   $1,250,000   $ 2,450,000
                         release
-------------------------------------------------------------------------------------------------------------------
                    b    Optical bench preps complete                      $  400,000
-------------------------------------------------------------------------------------------------------------------
                    c    Full set of optical mounts complete               $  400,000
-------------------------------------------------------------------------------------------------------------------
                    d    GPS Receiver order placed                         $   50,000
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
2        7/31/98    a    Bus Structure complete (inserts & painting)       $  450,000   $1,250,000   $ 3,700,000
-------------------------------------------------------------------------------------------------------------------
                    b    Solid State Recorders complete                    $  400,000
-------------------------------------------------------------------------------------------------------------------
                    c    RF box Engineering Models received                $  400,000
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
3        8/31/98    a    Primary/Secondary telescope roll test complete    $  450,000   $1,250,000   $ 4,950,000
-------------------------------------------------------------------------------------------------------------------
                    b    Power boxes complete (Battery, PDA, PCU)          $  400,000
-------------------------------------------------------------------------------------------------------------------
                    c    Command & Telemetry Unit received                 $  400,000
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
4        9/30/98    a    Telescope Assy Complete (mirror pins staked)      $  450,000   $1,250,000  $ 6,200,000
-------------------------------------------------------------------------------------------------------------------
                    b    Propulsion module complete                        $  400,000
-------------------------------------------------------------------------------------------------------------------
                    c    Gimbal received                                   $  400,000
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
5       10/31/98    a    Telescope Vibration test complete                 $  350,000   $2,476,000   $ 8,676,000
-------------------------------------------------------------------------------------------------------------------
                    b    Stim Lamp complete                                $  350,000
-------------------------------------------------------------------------------------------------------------------
                    c    RF box set (XWBT, XNBT, SBR) received             $  300,000
-------------------------------------------------------------------------------------------------------------------
                    d    Wideband data interface EM test complete (SSS     $  350,000
                         simulator, SSR, & WBT)
-------------------------------------------------------------------------------------------------------------------
                    e    Phase 1 & 2 harness complete                      $  350,000
-------------------------------------------------------------------------------------------------------------------
                    f    Structure preps complete (heaters, thermistors)   $  350,000
-------------------------------------------------------------------------------------------------------------------
                    g    Spacecraft Computer received                      $  350,000
-------------------------------------------------------------------------------------------------------------------
                    h    Narrow Band Modulation Indexing                   $   76,000
-----------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
6       11/30/98    a    Telescope Thermal cycle test complete             $  650,000   $4,400,000   $13,076,000
-------------------------------------------------------------------------------------------------------------------
                    b    Instrument radiator thermal test complete         $  650,000
-------------------------------------------------------------------------------------------------------------------
                    c    Phase 3, 4, & 5 harness complete                  $  650,000
-------------------------------------------------------------------------------------------------------------------
                    d    Deployable cover & sunshade complete              $  650,000
-------------------------------------------------------------------------------------------------------------------
                    e    STOC certified                                    $  600,000
-------------------------------------------------------------------------------------------------------------------
                    f    Initial Spacecraft Power on                       $  600,000
-------------------------------------------------------------------------------------------------------------------
                    g    Flight software loaded into software test bench   $  600,000
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
7       12/31/98    a    Flight Software (thru FQT) loaded into SCC        $1,150,000   $5,650,000   $18,726,000
-------------------------------------------------------------------------------------------------------------------
                    b    Telescope ready for SSS integration               $1,150,000
-------------------------------------------------------------------------------------------------------------------
                    c    Telescope vacuum dryout complete                  $1,150,000
-------------------------------------------------------------------------------------------------------------------
                    d    Complete EPDS integration                         $1,100,000
-------------------------------------------------------------------------------------------------------------------
                    e    SCC integration complete                          $1,100,000
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

                                                            SE.1M.PRJ.0004.A
                                                      Dated October 12, 1998
                                                                 Page 2 of 2

<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
 Item      Pay     Line                                                     Milestone        Total         Cum
   #       Date    Item                    Description                        Value         Payment      Payment
-------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------
<S>      <C>       <C>   <C>                                               <C>          <C>          <C>
8        1/31/99    a    SSS & SSR functional test complete                $  500,000   $1,810,000   $20,536,000
-----------------------------------------------------------------------------------------------------------------
                    b    Mid deck integration complete (RWAs &             $  500,000
-----------------------------------------------------------------------------------------------------------------
                    c    Sensor subsystem simulator integration complete   $  550,000
-----------------------------------------------------------------------------------------------------------------
                    d    Complete telescope thermal blanket installation   $  260,000
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
9        2/28/99    a    Focal Plane, installed, aligned & staked          $  550,000   $1,550,000   $22,086,000
-----------------------------------------------------------------------------------------------------------------
                    b    Star tracker electrical integration complete (on  $  500,000
-----------------------------------------------------------------------------------------------------------------
                    c    SAD/HDRS integration complete                     $  500,000
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
10       3/31/99    a    Instrument SNR Measurement complete               $  500,000   $1,000,000   $23,086,000
-----------------------------------------------------------------------------------------------------------------
                    b    Instrument ready to integrate into bus            $  500,000
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
11       4/30/99    a    Bus ready for instrument integration              $  500,000   $1,000,000   $24,086,000
-----------------------------------------------------------------------------------------------------------------
                    b    Instrument Installation complete                  $  500,000
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
12       5/31/99    a    Instrument integration complete                   $  500,000   $1,000,000   $25,086,000
-----------------------------------------------------------------------------------------------------------------
                    b    System baseline performance tests completed       $  500,000
                         successfully
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
13       6/30/99    a    Complete thermal blanket installation             $  500,000   $1,000,000   $26,086,000
-----------------------------------------------------------------------------------------------------------------
                    b    Start Thermal Vac test                            $  500,000
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
14       7/31/99    a    Successfully complete Thermal Vacuum Test         $  500,000   $1,000,000   $27,086,000
-----------------------------------------------------------------------------------------------------------------
                    b    Complete Solar array installation                 $  500,000
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
15       8/31/99    a    Successfully complete End to End Compatability    $  500,000   $1,000,000   $28,086,000
                         test
-----------------------------------------------------------------------------------------------------------------
                    b    Successfully complete Vibration Test              $  500,000
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
16       9/30/99    a    Successfully complete acoustic test               $  500,000   $1,000,000   $29,086,000
-----------------------------------------------------------------------------------------------------------------
                    b    Sucessfully complete post environmental           $  500,000
                         deployment tests
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
17      10/31/99    a    Spacecraft Ready to ship                          $3,000,000   $3,000,000   $32,086,000
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
18      11/30/99    a    Spacecraft ready for launch                       $  350,000   $  350,000   $32,436,000
-----------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------
19      12/31/99    a    Completion of In-Orbit test                       $  350,000   $  350,000   $32,786,000
-----------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

                                  AMENDMENT 4

                                      to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

      EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a four (4) day extension to the various options and off-ramp
election dates.

Exhibit A - Terms and Conditions

               .   Article 7, Stop Work Period and Mechanism
               .   Article 7.2.2. Telescope Option
               .   Article 7.2.3. Instrument Option

Exhibit E - Price and Payment Schedule

              .    Telescope Option Price
              .    Instrument Option price
              .    Payment Schedule

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

By: /s/ Herbert F. Satterlee III             11/16/98
   -----------------------------------       ------------
   Herbert F. Satterlee III                  Date
   Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

By: /s/ T.H. Lapotosky                       11/13/98
   -----------------------------------       ------------
   T.H. Lapotosky                            Date
   Director, Contracts & Government
   Compliance
<PAGE>

EXHIBIT A - TERMS AND CONDITIONS

Article 7 - Stop Work Period and Mechanism
------------------------------------------
 - Change "November 16, 1998" to "November 20, 1998" in the first sentence.

Article 7.2.2 - Telescope Option
--------------------------------
 - Change "November 16, 1998" to "November 20, 1998" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 - Change "November 16, 1998" to "November 20, 1998" in the first sentence.

EXHIBIT E - PRICE AND PAYMENT SCHEDULE

Telescope Option
----------------
 - Change the price from "$8,876,000" to "$9,176,000."

Instrument Option
-----------------
 - Change the price from "$11,926,000" to "$12,226,000."

Payment Schedule
----------------
- Change the First payment (11/30/98) from "$650,000" to "$950,000."
<PAGE>

                                  AMENDMENT 5
                                       to
                           CONTRACT SE.1M.PRJ.0004.A
                                    between
       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.
                                    for the
                       CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a three (3) day extension to the various options and off-ramp
election dates.

Exhibit A - Terms and Conditions

            . Article 7, Stop Work Period and Mechanism
            . Article 7.2.2. Telescope Option
            . Article 7.2.3. Instrument Option

IN WITNESS WHEREOF, the parties hereto 11/20/98 to be executed by their
respective duly authorized representatives.

EARTHWATCH, INCORPORATED

By: /s/ Herbert F. Satterlee III                    11/24/98
    -------------------------------------        ----------------
    Herbert F. Satterlee III                     Date
    Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

By: /s/ T.H. Lapotsky                               11/20/98
    -------------------------------------        ----------------
    T.H. Lapotsky                                Date
    Director, Contracts & Government
    Compliance

<PAGE>

EXHIBIT A - TERMS AND CONDITIONS

Article 7 - Stop Work Period and Mechanism
------------------------------------------
 - Change "November 20, 1998" to "November 23, 1998" in the first sentence.

Article 7.2.2 - Telescope Option
--------------------------------
 - Change "November 20, 1998" to "November 23, 1998" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 - Change "November 20, 1998" to "November 23, 1998" in the first sentence.

<PAGE>

                                  AMENDMENT 6

                                       to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a one (1) day extension to the various options and off-ramp
election dates.

Exhibit A - Terms and Conditions

           . Article 7, Stop Work Period and Mechanism
           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

By:  /s/ Shawn Thompson                                     11/23/98
     ------------------------------------------          ---------------
     For Herbert F. Satterlee III                        Date
     Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

By:  /s/ T.H. Lapotosky                                     11/23/98
     -------------------------------------------         ----------------
     T.H. Lapotosky                                      Date
     Director, Contracts & Government Compliance

<PAGE>

EXHIBIT A - TERMS AND CONDITIONS

Article 7 - Stop Work Period and Mechanism
------------------------------------------
- Change "November 23, 1998" to "November 24, 1998" in the first sentence.

Article 7.2.2 - Telescope Option
--------------------------------
- Change "November 23, 1998" to "November 24, 1998" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
- Change "November 23, 1998" to "November 24, 1998" in the first sentence.
<PAGE>

                                   AMENDMENT 7

                                       to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

  This Amendment is issued to incorporate a change to the Contract document that
  incorporates a six (6) day extension to the various options and off-ramp
  election dates.

  Exhibit A - Terms and Conditions

            . Article 7, Stop Work Period and Mechanism
            . Article 7.2.2. Telescope Option
            . Article 7.2.3. Instrument Option

  Entire Agreement. This Amendment, hereto constitutes the entire understanding
  of the parties with respect to the subject matter of this Amendment and
  supersedes all prior and contemporaneous agreements or understandings. By
  signing this Amendment, each party represents to the other that it has the
  authority to sign this Amendment and this Amendment is enforceable against it
  in accordance with its terms.

  IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
  executed by their respective duly authorized representatives.

  EARTHWATCH, INCORPORATED

     /s/ Herbert F. Satterlee III                        11/24/98
  By:____________________________________________     ____________________
     Herbert F. Satterlee III                         Date
     Chief Executive Officer & President

  BALL AEROSPACE SYSTEMS DIVISION

     /s/ T.H. Lapotosky                                  11/24/98
  By:____________________________________________     ____________________
     T.H. Lapotosky                                   Date
     Director, Contracts & Government Compliance
<PAGE>

EXHIBIT A - TERMS AND CONDITIONS

Article 7 - Stop Work Period and Mechanism
------------------------------------------
 -  Change "November 24, 1998" to "November 30, 1998" in the first sentence.

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "November 24, 1998" to "November 30, 1998" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "November 24, 1998" to "November 30, 1998" in the first sentence.
<PAGE>

                                  AMENDMENT 8

                                       to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

   This Amendment is issued to incorporate a change to the Contract document
   that incorporates a one (1) day extension to the various options and off-ramp
   election dates.

   Exhibit A - Terms and Conditions

              . Article 7, Stop Work Period and Mechanism
              . Article 7.2.2. Telescope Option
              . Article 7.2.3. Instrument Option

   Entire Agreement. This Amendment, hereto constitutes the entire understanding
   of the parties with respect to the subject matter of this Amendment and
   supersedes all prior and contemporaneous agreements or understandings. By
   signing this Amendment, each party represents to the other that it has the
   authority to sign this Amendment and this Amendment is enforceable against it
   in accordance with its terms.

   IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
   executed by their respective duly authorized representatives.

   EARTHWATCH, INCORPORATED

      /s/ Shawn Thompson                                 11/30/98
   By:_____________________________________________     ______________________
      Herbert F. Satterlee III                          Date
      Chief Executive Officer & President

   BALL AEROSPACE SYSTEMS DIVISION

      /s/ T.H. Lapotosky                                 11/30/98
   By:_____________________________________________     ______________________
      T.H. Lapotosky                                    Date
      Director, Contracts & Government Compliance
<PAGE>

EXHIBIT A - TERMS AND CONDITIONS

Article 7 - Stop Work Period and Mechanism
------------------------------------------
 -  Change "November 30, 1998" to "December 1, 1998" in the first sentence.

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "November 30, 1998" to "December 1, 1998" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "November 30, 1998" to "December 1, 1998" in the first sentence.
<PAGE>

                                   AMENDMENT 9

                                       to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment incorporates the following changes to the Contract.

Exhibit A - Terms and Conditions

           . Article 7, Stop Work Period and Mechanism
           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Option to Purchase One (1) One Meter Space Segment

           . Price and Schedule
           . Payment Schedule

Exhibit E - Price and Payment Schedule

           . Full Project Deliverables and Services Price
           . Telescope Option Price
           . Instrument Option Price
           . Restart Price
           . Payment Schedule

Entire Agreement. This Amendment, including the EXHIBITS hereto constitutes the
entire understanding of the parties with respect to the subject matter of this
Amendment and supersedes all prior and contemporaneous agreements or
understandings. By signing this Amendment, each party represents to the other
that it has the authority to sign this Amendment and this Amendment is
enforceable against it in accordance with its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.
<PAGE>

   EARTHWATCH, INCORPORATED

      /s/ Herbert F. Satterlee III                       12/1/98
   By:_____________________________________________     ______________________
      Herbert F. Satterlee III                          Date
      Chief Executive Officer & President

   BALL AEROSPACE SYSTEMS DIVISION

      /s/ T.H. Lapotosky                                 12/1/98
   By:_____________________________________________     ______________________
      T.H. Lapotosky                                    Date
      Director, Contracts & Government Compliance
<PAGE>

      EXHIBIT A TO CONTRACT FOR THE EARTHWATCH PROJECT ONE QUICKBIRD SPACE
                          SEGMENT TERMS AND CONDITIONS

Article 7 - Stop Work Period and Mechanism: Change the First Sentence to read:
"Subject to the terms and conditions of this contract on or before January 15,
1999, due to certain EarthWatch financial limitations, it may be necessary for
EarthWatch to direct BATC to suspend work as well as suspend payments as
defined in Exhibit C, Statement of Work until March 1, 1999."

Article 7.2.2 - Telescope Option: Change the first and second sentences to read:
"On or before January 15, 1999, EarthWatch can notify BATC of its intent to
exercise its option to purchase the following components as defined in the
Statement of Work: the assembled telescope including "STIM Lamp" following one
completed vibration and thermal test, one set of the Solid State Recorders, one
set of Wide Band Transmitters, one High Gain Antenna, one High Gain Antenna
Gimbal with associated wide band radio frequency materials including
Subcontracted items, two sets of "S" Band Receivers and two sets of "X-Narrow"
Band Transmitters. Delivery of these components shall occur on or before
February 26, 1999, with the exception of the 2nd set of RF Components. These
components will be delivered on or before June 30, 1999."

Article 7.2.3 - Instrument Option: Change the first and second sentences to
read: "On or before January 15, 1999, EarthWatch can notify BATC of its intent
to exercise its option to purchase the following components as defined in the
Statement of Work: the telescope including "STIM Lamp" and the EarthWatch
provided (through Kodak) Sensor Subsystem, one set of Solid State Recorders, one
set of Wide Band Transmitters with Radio Frequency material, one High Gain
Antenna, one High Gain Antenna Gimbal, two sets of "S" Band Receivers and two
sets of "X-Narrow" Band Transmitters. Delivery of these components shall occur
on or before May 31, 1999, with the exception of the 2nd set of RF Components.
These components will be delivered on or before June 30, 1999."

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

 . Price and Schedule: Change the Contract Start Date and Price as follows:
  -------------------

  Exercise Period    Contract Start Date       Price        Delivery Schedule
  ---------------    -------------------       -----        -----------------
      No. 1          6/1/98 thru 1/15/99    $30,450,000     November 1, 2000

 . Payment Schedule:
  -----------------

  Prior to exercise, EarthWatch and BATC shall negotiate detailed milestones
  associated with the nominal payment schedule set forth below:
<PAGE>

<TABLE>
<CAPTION>
          ----------------------------
          Pay Date          Payment $
          ----------------------------
          <S>              <C>
          1-Feb-99
          1-Mar-99         $ 2,900,000
          1-Apr-99         $ 2,900,000
          1-May-99         $ 2,900,000
          1-Jun-99         $ 2,900,000
          1-Jul-99         $ 2,900,000
          1-Aug-99         $ 1,500,000
          1-Sep-99         $ 1,500,000
          1-Oct-99         $ 1,300,000
          1-Nov-99         $ 1,300,000
          1-Dec-99         $ 1,300,000
          1-Jan-00         $ 1,300,000
          1-Feb-00         $ 1,120,000
          1-Mar-00         $   700,000
          1-Apr-00         $   700,000
          1-May-00         $   700,000
          1-Jun-00         $   700,000
          1-Jul-00         $   700,000
          1-Aug-00         $   700,000
          1-Sep-00         $   700,000
          1-Oct-00         $   330,000
          1-Nov-00         $ 1,400,000
          ----------------------------
            Total          $30,450,000
          ----------------------------
</TABLE>

EXHIBIT E - PRICE AND PAYMENT SCHEDULE

Full Project Deliverables and Services Price: Change the first sentence to read
"The total fixed price for the Deliverables and Services for the first One (1)
Meter QuickBird Space Segment is $33,490,000."

Telescope Option Price: Change to read: "The total fixed price for the certain
deliverables set forth in Article 7.2.2 is $10,176,000."

Instrument Option Price: Change to read: "The total fixed price for the certain
deliverables set forth in Article 7.2.3 is $12,661,000."

Restart Prices: Change as follows:

<TABLE>
<CAPTION>
                                                  Delivery (calculated from
      Restart Dates          QB #1 Prices           execution of Contract)
      -------------          ------------           ----------------------
   <S>                       <C>                  <C>

   01/15/99 - 03/01/99        $34,300,000                  20.5 mos.
</TABLE>
<PAGE>

 . No. 3    Instrument Option Payment Schedule: Change as follows:

<TABLE>
 <CAPTION>
     Due Date                Amount $
     --------                --------
     <S>                     <C>
     01/31/99                $895,000
     02/28/99                $895,000
     03/31/99                $895,000
</TABLE>

 . Substitute the attached revised SE.1M.PRJ.0004.A dated June 4, 1998 payment
  milestone schedule with SE.1M.PRJ.0004.A dated December 1, 1998.
<PAGE>

                                                                SE.1M.PRJ.0004.A
                                                         Dated December 01, 1998

<TABLE>
<CAPTION>
  Pay                                                                 Milestone     Total        Cumm
  Date       Description                                                 Value     Payment      Payment
---------------------------------------------------------------------------------------------------------
<C>       <C><S>                                                      <C>         <C>         <C>
---------------------------------------------------------------------------------------------------------
 6/9/98   a  Full set of optics received                              $  400,000  $1,200,000  $ 1,200,000
---------------------------------------------------------------------------------------------------------
          b  RWAs received                                            $  400,000
---------------------------------------------------------------------------------------------------------
          c  Primary & secondary optics bonded to optical mounts      $  400,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
6/30/98   a  Spacecraft Test Requirement Document initial release     $  400,000  $1,250,000  $ 2,450,000
---------------------------------------------------------------------------------------------------------
          b  Optical bench preps complete                             $  400,000
---------------------------------------------------------------------------------------------------------
          c  Full set of optical mounts complete                      $  400,000
---------------------------------------------------------------------------------------------------------
          d  GPS Receiver order placed                                $   50,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
7/31/98   a  Bus Structure complete (inserts & painting)              $  450,000  $1,250,000  $ 3,700,000
---------------------------------------------------------------------------------------------------------
          b  Solid State Recorders complete                           $  400,000
---------------------------------------------------------------------------------------------------------
          c  RF box Engineering Models received                       $  400,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
8/31/98   a  Primary/Secondary telescope roll test complete           $  450,000  $1,250,000  $ 4,950,000
---------------------------------------------------------------------------------------------------------
          b  Power boxes complete (Battery, PDA, PCU)                 $  400,000
---------------------------------------------------------------------------------------------------------
          c  Command & Telemetry Unit received                        $  400,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
9/30/98   a  Telescope Assy Complete (mirror pins staked)             $  450,000  $1,250,000  $ 6,200,000
---------------------------------------------------------------------------------------------------------
          b  Propulsion module complete                               $  400,000
---------------------------------------------------------------------------------------------------------
          c  Gimbal received                                          $  400,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
10/31/98  a  Telescope Vibration test complete                        $  720,000  $2,476,000  $ 8,676,000
---------------------------------------------------------------------------------------------------------
          b  Wideband data interface EM test complete                 $  420,000
             (SSS simulator, SSR, & WBT)
---------------------------------------------------------------------------------------------------------
          c  Phase 1 & 2 harness complete                             $  420,000
---------------------------------------------------------------------------------------------------------
          d  Structure preps complete (heaters, thermistors)          $  420,000
---------------------------------------------------------------------------------------------------------
          e  Spacecraft Computer received                             $  420,000
---------------------------------------------------------------------------------------------------------
          f  Narrow Band Modulation Indexing                          S   76,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
12/1/98   a  Telescope Thermal cycle test complete                    $  225,000  $1,300,000  $ 9,976,000
---------------------------------------------------------------------------------------------------------
          b  Instrument radiator thermal test complete                $  215,000
---------------------------------------------------------------------------------------------------------
          c  Phase 3, 4, & 5 harness complete                         $  215,000
---------------------------------------------------------------------------------------------------------
          e  STOC certified                                           $  215,000
---------------------------------------------------------------------------------------------------------
          f  Initial Spacecraft Power on                              $  215,000
---------------------------------------------------------------------------------------------------------
          g  Flight software loaded into software test bench          $  215,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
1/31/99   a  Flight Software (thru FQT) loaded into SCC               $1,375,000  $6,815,000  $16,791,000
---------------------------------------------------------------------------------------------------------
          b  Mid deck integration complete (RWAs & torquers)          $1,360,000                                                  1
---------------------------------------------------------------------------------------------------------
          c  Telescope vacuum dryout complete (inc post thermal test) $1,360,000
---------------------------------------------------------------------------------------------------------
          d  Complete EPDS integration                                $1,360,000
---------------------------------------------------------------------------------------------------------
          e  SCC Integration complete                                 $1,360,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
2/28/99   a  SSS & SSR functional test complete                       $  600,000  $3,000,000  $19,791,000
---------------------------------------------------------------------------------------------------------
          b  Telescope ready for SSS integration                      $  600,000
---------------------------------------------------------------------------------------------------------
          c  Sensor subsystem simulator integration complete          $  600,000
---------------------------------------------------------------------------------------------------------
          d  Complete telescope thermal blanket installation          $  600,000
---------------------------------------------------------------------------------------------------------
          e  Narrowband RF box set (XNST & SBR) received              $  600,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
3/31/99   a  Focal Plane, installed, aligned & staked                 $  600,000  $3,000,000  $22,791,000
---------------------------------------------------------------------------------------------------------
</TABLE>

                               Page 1 of 2
<PAGE>

                                                                SE.1M.PRJ.0004.A
                                                         Dated December 01, 1998

<TABLE>
<S>          <C>                                                      <C>         <C>         <C>
---------------------------------------------------------------------------------------------------------
          b  Star tracker electrical integration complete (on bus)    $  600,000
---------------------------------------------------------------------------------------------------------
          c  SAO/HDRS integration complete                            $  600,000
---------------------------------------------------------------------------------------------------------
          d  Deployable cover & sunshade complete                     $  600,000
---------------------------------------------------------------------------------------------------------
          e  Wideband RF box set (WBT) received                       $  600,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
 4/30/99  a  Instrument SNR Measurement complete                      $  500,000  $1,000,000  $23,791,000
---------------------------------------------------------------------------------------------------------
          b  Instrument ready to integrate into bus                   $  500,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
 5/31/99  a  Bus ready for instrument integration                     $  500,000  $1,000,000  $24,791,000
---------------------------------------------------------------------------------------------------------
          b  Instrument Installation complete                         $  500,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
 6/30/99  a  Instrument integration complete                          $  500,000  $1,000,000  $25,791,000
---------------------------------------------------------------------------------------------------------
          b  System baseline performance tests completed sucessfully  $  500,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
 7/31/99  a  Complete thermal blanket installation                    $  500,000  $1,000,000  $26,791,000
---------------------------------------------------------------------------------------------------------
          b  Start Thermal Vac test                                   $  500,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
 8/31/99  a  Successfully complete Thermal Vacuum Test                $  500,000  $1,000,000  $27,791,000
---------------------------------------------------------------------------------------------------------
          b  Complete Solar array installation                        $  500,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
 9/30/99  a  Successfully complete End to End Compatability test      $  500,000  $1,000,000  $28,791,000
---------------------------------------------------------------------------------------------------------
          b  Successfully complete Vibration Test                     $  500,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
10/31/99  a  Successfully complete acoustic test                      $  500,000  $1,000,000  $29,791,000
---------------------------------------------------------------------------------------------------------
          b  Successfully complete post environmental deployment tests$  500,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
11/30/99  a  Spacecraft Ready to ship                                 $3,000,000  $3,000,000  $32,791,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
12/31/99  a  Spacecraft ready for launch                              $  350,000  $  350,000  $33,141,000
---------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------
1/30/99   a  Completion of In-Orbit test                              $  349,000  $  349,000  $33,490,000
---------------------------------------------------------------------------------------------------------
</TABLE>

                               Page 2 of 2
<PAGE>

                                  AMENDMENT 10

                                       to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

 This Amendment is issued to incorporate a change to the Contract document that
 incorporates a three (3) day extension to the various options and off-ramp
 election dates.

 Exhibit A - Terms and Conditions

           . Article 7, Stop Work Period and Mechanism
           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

 Entire Agreement.  This Amendment, hereto constitute the entire understanding
 of the parties with respect to the subject matter of this Amendment and
 supersedes all prior and contemporaneous agreements or understandings. By
 signing this Amendment, each party represents to the other that it has the
 authority to sign this Amendment and this Amendment is enforceable against it
 in accordance with its terms.

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
 executed by their respective duly authorized representatives.

 EARTHWATCH, INCORPORATED

    /s/ Herbert F. Satterlee III
 By:_____________________________________________     _______________________
    Herbert F. Satterlee III                          Date
    Chief Executive Officer & President

 BALL AEROSPACE SYSTEMS DIVISION

    /s/ T.H. Lapotosky                                01/15/99
 By:_____________________________________________     _______________________
    T.H. Lapotosky                                    Date
    Director, Contracts & Government Compliance
<PAGE>

EXHIBIT A - TERMS AND CONDITIONS

Article 7 - Stop Work Period and Mechanism
------------------------------------------
 -  Change "January 15, 1999" to "January 18, 1999" in the first sentence.

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "January 15, 1999" to "January 18, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "January 15, 1999" to "January 18, 1999" in the first sentence.
<PAGE>

                                 AMENDMENT 11

                                      to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment incorporates the following changes to the Contract.

Exhibit A - Terms and Conditions

           . Article 7, Stop Work Period and Mechanism
           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Option to Purchase One (1) One Meter Space Segment

           . Price and Schedule
           . Payment Schedule

Exhibit E - Price and Payment Schedule

           . Full Project Deliverables and Services Price
           . Telescope Option Price
           . Instrument Option Price
           . Restart Price
           . Payment Schedule

Entire Agreement. This Amendment, including the EXHIBITS hereto constitute the
entire understanding of the parties with respect to the subject matter of this
Amendment and supersedes all prior and contemporaneous agreements or
understandings. By signing this Amendment, each party represents to the other
that it has the authority to sign this Amendment and this Amendment is
enforceable against it in accordance with its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.
<PAGE>

 EARTHWATCH, INCORPORATED

    /s/ Herbert F. Satterlee III                      1/18/99
 By:_____________________________________________     _______________________
    Herbert F. Satterlee III                          Date
    Chief Executive Officer & President

 BALL AEROSPACE SYSTEMS DIVISION

    /s/ T.H. Lapotosky                                01/18/99
 By:_____________________________________________     _______________________
    T.H. Lapotosky                                    Date
    Director, Contracts & Government Compliance
<PAGE>

      EXHIBIT A TO CONTRACT FOR THE EARTHWATCH PROJECT ONE QUICKBIRD SPACE
                          SEGMENT TERMS AND CONDITIONS

Article 7 - Stop Work Period and Mechanism: Change the First Sentence to read:
"Subject to the terms and conditions of this contract on or before January 22,
1999, due to certain EarthWatch financial limitations, it may be necessary for
EarthWatch to direct BATC to suspend work as well as suspend payments as defined
in Exhibit C, Statement of Work until March 1, 1999."

Article 7.2.2 - Telescope Option: Change the first and second sentences to read:
"On or before January 22, 1999, EarthWatch can notify BATC of its intent to
exercise its option to purchase the following components as defined in the
Statement of Work: the assembled telescope including "STIM Lamp" following one
completed vibration and thermal test, one set of the Solid State Recorders, one
set of Wide Band Transmitters, one High Gain Antenna, one High Gain Antenna
Gimbal with associated wide band radio frequency materials including
Subcontracted items, two sets of "S" Band Receivers and two sets of "X-Narrow"
Band Transmitters. Delivery of these components shall occur on or before
February 26, 1999, with the exception of the 2nd set of RF Components. These
components will be delivered on or before June 30, 1999."

Article 7.2.3 - Instrument Option: Change the first and second sentences to
read: "On or before January 22, 1999, EarthWatch can notify BATC of its intent
to exercise its option to purchase the following components as defined in the
Statement of Work: the telescope including "STIM Lamp" and the EarthWatch
provided (through Kodak) Sensor Subsystem, one set of Solid State Recorders, one
set of Wide Band Transmitters with Radio Frequency material, one High Gain
Antenna, one High Gain Antenna Gimbal, two sets of "S" Band Receivers and two
sets of "X-Narrow" Band Transmitters. Delivery of these components shall occur
on or before May 31, 1999, with the exception of the 2nd set of RF Components.
These components will be delivered on or before June 30, 1999."

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

 . Price and Schedule: Change the Contract Start Date and Price as follows:
  -------------------

  Exercise Period    Contract Start Date        Price         Delivery Schedule
  ---------------    -------------------        -----         -----------------
       No. 1         6/1/98 thru 1/22/99     $30,450,000      November 1, 2000

 . Payment Schedule:
  -----------------

  Prior to exercise, EarthWatch and BATC shall negotiate detailed milestones
  associated with the nominal payment schedule set forth below:
<PAGE>

<TABLE>
<CAPTION>
          -------------------------------
          Pay Date             Payment $
          -------------------------------
          <S>                 <C>
          1-Feb-99
          1-Mar-99            $ 2,900,000
          1-Apr-99            $ 2,900,000
          1-May-99            $ 2,900,000
          1-Jun-99            $ 2,900,000
          1-Jul-99            $ 2,900,000
          1-Aug-99            $ 1,500,000
          1-Sep-99            $ 1,500,000
          1-Oct-99            $ 1,300,000
          1-Nov-99            $ 1,300,000
          1-Dec-99            $ 1,300,000
          1-Jan-00            $ 1,300,000
          1-Feb-00            $ 1,120,000
          1-Mar-00            $   700,000
          1-Apr-00            $   700,000
          1-May-00            $   700,000
          1-Jun-00            $   700,000
          1-Jul-00            $   700,000
          1-Aug-00            $   700,000
          1-Sep-00            $   700,000
          1-Oct-00            $   330,000
          1-Nov-00            $ 1,400,000
          -------------------------------
            Total             $30,450,000
          -------------------------------
</TABLE>

EXHIBIT E - PRICE AND PAYMENT SCHEDULE

Full Project Deliverables and Services Price: Change the first sentence to read
"The total fixed price for the Deliverables and Services for the first One (1)
Meter QuickBird Space Segment is $33,490,000."

Telescope Option Price: Change to read: "The total fixed price for the certain
deliverables set forth in Article 7.2.2 is $10,376,000."

Instrument Option Price: Change to read: "The total fixed price for the certain
deliverables set forth in Article 7.2.3 is $12,861,000."

Restart Prices: Change as follows:

                                               Delivery (calculated from
      Restart Dates        QB #1 Prices         execution of Contract)
      -------------        ------------         ----------------------

   01/22/99 - 03/01/99      $34,300,000                 20.5 mos.
<PAGE>

 . No. 3    Instrument Option Payment Schedule: Change as follows:

     Due Date                   Amount $
     --------                   --------
     01/31/99                   $895,000
     02/28/99                   $895,000
     03/31/99                   $895,000

 . Substitute the attached revised SE.1M.PRJ.0004.A dated December 1, 1998
  payment milestone schedule with SE.1M.PRJ.0004.A dated January 15, 1999.
<PAGE>

                                                                SE.1M.PRJ.0004.A
                                                          Dated January 15, 1999

<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------
                                                                         Milestone      Total
Pay Date   Description                                                     Value       Payment     Cumm Payment
---------------------------------------------------------------------------------------------------------------
<S>       <C><C>                                                         <C>          <C>          <C>
---------------------------------------------------------------------------------------------------------------
 6/9/98   a  Full set of optics received                                 $  400,000   $1,200,000   $ 1,200,000
---------------------------------------------------------------------------------------------------------------
          b  RWAs received                                               $  400,000
---------------------------------------------------------------------------------------------------------------
          c  Primary & secondary optics bonded to optical mounts         $  400,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 6/30/98  a  Spacecraft Test Requirement Document initial release        $  400,000   $1,250,000   $ 2,450,000
---------------------------------------------------------------------------------------------------------------
          b  Optical bench preps complete                                $  400,000
---------------------------------------------------------------------------------------------------------------
          c  Full set of optical mounts complete                         $  400,000
---------------------------------------------------------------------------------------------------------------
          d  GPS Receiver order placed                                   $   50,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 7/31/98  a  Bus Structure complete (inserts & painting)                 $  450,000   $1,250,000   $ 3,700,000
---------------------------------------------------------------------------------------------------------------
          b  Solid State Recorders complete                              $  400,000
---------------------------------------------------------------------------------------------------------------
          c  RF box Engineering Models received                          $  400,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 8/31/98  a  Primary/Secondary telescope roll test complete              $  450,000   $1,250,000   $ 4,950,000
---------------------------------------------------------------------------------------------------------------
          b  Power boxes complete (Battery, PDA, PCU)                    $  400,000
---------------------------------------------------------------------------------------------------------------
          c  Command & Telemetry Unit received                           $  400,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 9/30/98  a  Telescope Assy Complete (mirror pins staked)                $  450,000   $1,250,000   $ 6,200,000
---------------------------------------------------------------------------------------------------------------
          b  Propulsion module complete                                  $  400,000
---------------------------------------------------------------------------------------------------------------
          c  Gimbal received                                             $  400,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
10/31/98  a  Telescope Vibration test complete                           $  720,000   $2,476,000   $ 8,676,000
---------------------------------------------------------------------------------------------------------------
          b  Wideband data interface EM test complete (SSS simulator,
             SSR, & WBT)                                                 $  420,000
---------------------------------------------------------------------------------------------------------------
          c  Phase 1 & 2 harness complete                                $  420,000
---------------------------------------------------------------------------------------------------------------
          d  Structure preps complete (heaters, thermistors)             $  420,000
---------------------------------------------------------------------------------------------------------------
          e  Spacecraft Computer received                                $  420,000
---------------------------------------------------------------------------------------------------------------
          f  Narrow Band Modulation Indexing                             $   76,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 12/1/98  a  Telescope Thermal cycle test complete                       $  225,000   $1,300,000   $ 9,976,000
---------------------------------------------------------------------------------------------------------------
          b  Instrument radiator thermal test complete                   $  215,000
---------------------------------------------------------------------------------------------------------------
          c  Phase 3, 4, & 5 harness complete                            $  215,000
---------------------------------------------------------------------------------------------------------------
          e  STOC certified                                              $  215,000
---------------------------------------------------------------------------------------------------------------
          f  Initial Spacecraft Power on                                 $  215,000
---------------------------------------------------------------------------------------------------------------
          g  Flight software loaded into software test bench             $  215,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 1/19/99  a  Execution of Amendment 11                                   $  200,000   $  200,000   $10,176,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 1/31/99  a  Flight Software (thru FQT) loaded into SCC                  $1,175,000   $6,615,000   $16,791,000
---------------------------------------------------------------------------------------------------------------
          b  Mid deck integration complete (RWAs & torquers)             $1,360,000
---------------------------------------------------------------------------------------------------------------
          c  Telescope vacuum dryout complete (inc post thermal test)    $1,360,000
---------------------------------------------------------------------------------------------------------------
          d  Complete EPDS integration                                   $1,360,000
---------------------------------------------------------------------------------------------------------------
          e  SCC Integration complete                                    $1,360,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 2/28/99  a  SSS & SSR functional test complete                          $  600,000   $3,000,000   $19,791,000
---------------------------------------------------------------------------------------------------------------
          b  Telescope ready for SSS integration                         $  600,000
---------------------------------------------------------------------------------------------------------------
          c  Sensor subsystem simulator integration complete             $  600,000
---------------------------------------------------------------------------------------------------------------
          d  Complete telescope thermal blanket installation             $  600,000
---------------------------------------------------------------------------------------------------------------
          e  Narrowband RF box set (XNBT & SBR) received                 $  600,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 3/31/99  a  Focal Plane, installed, aligned & staked                    $  600,000   $3,000,000   $22,791,000
---------------------------------------------------------------------------------------------------------------
          b  Star tracker electrical integration complete (on bus)       $  600,000
---------------------------------------------------------------------------------------------------------------
          c  SAD/HDRS integration complete                               $  600,000
---------------------------------------------------------------------------------------------------------------
          d  Deployable cover & sunshade complete                        $  600,000
---------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

                                                                SE.1M.PRJ.0004.A
                                                          Dated January 15, 1999

<TABLE>
<S>       <C><C>                                                         <C>          <C>          <C>
---------------------------------------------------------------------------------------------------------------
          e  Wideband RF box set (WBT) received                          $  600,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 4/30199  a  Instrument SNR Measurement complete                         $  500,000   $1,000,000   $23,791,000
---------------------------------------------------------------------------------------------------------------
          b  Instrument ready to integrate into bus                      $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 5/31/99  a  Bus ready for instrument integration                        $  500,000   $1,000,000   $24,791,000
---------------------------------------------------------------------------------------------------------------
          b  Instrument installation complete                            $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 6/30/99  a  Instrument integration complete                             $  500,000   $1,000,000   $25,791,000
---------------------------------------------------------------------------------------------------------------
          b  System baseline performance tests completed successfully    $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 7/31/99  a  Complete thermal blanket installation                       $  500,000   $1,000,000   $26,791,000
---------------------------------------------------------------------------------------------------------------
          b  Start Thermal Vac test                                      $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 8/31/99  a  Successfully complete Thermal Vacuum Test                   $  500.000   $1,000,000   $27,791,000
---------------------------------------------------------------------------------------------------------------
          b  Complete Solar array installation                           $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 9/30/99  a  Successfully complete End to End Compatability test         $  500,000   $1,000,000   $28,791,000
---------------------------------------------------------------------------------------------------------------
          b  Successfully complete Vibration Test                        $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
10/31/99  a  Successfully complete acoustic test                         $  500,000   $1,000,000   $29,791,000
---------------------------------------------------------------------------------------------------------------
          b  Successfully complete post environmental deployment tests   $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
11/30/99  a  Spacecraft Ready to ship                                    $3,000,000   $3,000,000   $32,791,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
12/31/99  a  Spacecraft ready for launch                                 $  350,000   $  350,000   $33,141,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
 1/30/99  a  Completion of In-Orbit test                                 S  349,000   $  349,000   $33,490,000
---------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

                                  AMENDMENT 12

                                       to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment incorporates the following changes to the Contract.

Exhibit A - Terms and Conditions

           . Article 7, Stop Work Period and Mechanism
           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Option to Purchase One (1) One Meter Space Segment

           . Price and Schedule
           . Payment Schedule

Exhibit E - Price and Payment Schedule

           . Full Project Deliverables and Services Price
           . Telescope Option Price
           . Instrument Option Price
           . Restart Price
           . Payment Schedule

Entire Agreement. This Amendment, including the EXHIBITS hereto constitute the
entire understanding of the parties with respect to the subject matter of this
Amendment and supersedes all prior and contemporaneous agreements or
understandings. By signing this Amendment, each party represents to the other
that it has the authority to sign this Amendment and this Amendment is
enforceable against it in accordance with its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.
<PAGE>

EARTHWATCH, INCORPORATED

   /s/ Herbert F. Satterlee III                      1/22/99
By:_____________________________________________     _________________________
   Herbert F. Satterlee III                          Date
   Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

   /s/ T.H. Lapotosky                                01/22/99
By:_____________________________________________     _________________________
   T.H. Lapotosky                                    Date
   Director, Contracts & Government Compliance
<PAGE>

      EXHIBIT A TO CONTRACT FOR THE EARTHWATCH PROJECT ONE QUICKBIRD SPACE
                          SEGMENT TERMS AND CONDITIONS

Article 7 - Stop Work Period and Mechanism: Change the First Sentence to read:
"Subject to the terms and conditions of this contract on or before January 27,
1999, due to certain EarthWatch financial limitations, it may be necessary for
EarthWatch to direct BATC to suspend work as well as suspend payments as defined
in Exhibit C, Statement of Work until March 1, 1999."

Article 7.2.2 - Telescope Option: Change the first and second sentences to read:
"On or before January 27, 1999, EarthWatch can notify BATC of its intent to
exercise its option to purchase the following components as defined in the
Statement of Work: the assembled telescope including "STIM Lamp" following one
completed vibration and thermal test, one set of the Solid State Recorders, one
set of Wide Band Transmitters, one High Gain Antenna, one High Gain Antenna
Gimbal with associated wide band radio frequency materials including
Subcontracted items, two sets of "S" Band Receivers and two sets of "X-Narrow"
Band Transmitters. Delivery of these components shall occur on or before
February 26, 1999, with the exception of the 2nd set of RF Components. These
components will be delivered on or before June 30, 1999."

Article 7.2.3 - Instrument Option: Change the first and second sentences to
read: "On or before January 27, 1999, EarthWatch can notify BATC of its intent
to exercise its option to purchase the following components as defined in the
Statement of Work: the telescope including "STIM Lamp" and the EarthWatch
provided (through Kodak) Sensor Subsystem, one set of Solid State Recorders, one
set of Wide Band Transmitters with Radio Frequency material, one High Gain
Antenna, one High Gain Antenna Gimbal, two sets of "S" Band Receivers and two
sets of "X-Narrow" Band Transmitters. Delivery of these components shall occur
on or before May 31, 1999, with the exception of the 2nd set of RF Components.
These components will be delivered on or before June 30, 1999."

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

 . Price and Schedule: Change the Contract Start Date and Price as follows:
  -------------------

  Exercise Period    Contract Start Date        Price       Delivery Schedule
  ---------------    -------------------        -----       -----------------
       No. 1         6/1/98 thru 1/27/99     $30,450,000     November 1, 2000

 . Payment Schedule:
  ----------------

  Prior to exercise, EarthWatch and BATC shall negotiate detailed milestones
  associated with the nominal payment schedule set forth below:
<PAGE>

<TABLE>
<CAPTION>
          --------------------------------
          Pay Date              Payment $
          --------------------------------
          <S>                  <C>
          1-Feb-99
          1-Mar-99             $ 2,900,000
          1-Apr-99             $ 2,900,000
          1-May-99             $ 2,900,000
          1-Jun-99             $ 2,900,000
          1-Jul-99             $ 2,900,000
          1-Aug-99             $ 1,500,000
          1-Sep-99             $ 1,500,000
          1-Oct-99             $ 1,300,000
          1-Nov-99             $ 1,300,000
          1-Dec-99             $ 1,300,000
          1-Jan-00             $ 1,300,000
          1-Feb-00             $ 1,120,000
          1-Mar-00             $   700,000
          1-Apr-00             $   700,000
          1-May-00             $   700,000
          1-Jun-00             $   700,000
          1-Jul-00             $   700,000
          1-Aug-00             $   700,000
          1-Sep-00             $   700,000
          1-Oct-00             $   330,000
          1-Nov-00             $ 1,400,000
          --------------------------------
            Total              $30,450,000
          --------------------------------
</TABLE>

EXHIBIT E - PRICE AND PAYMENT SCHEDULE

Full Project Deliverables and Services Price: The first sentence remains "The
total fixed price for the Deliverables and Services for the first One (1) Meter
QuickBird Space Segment is $33,490,000."

Telescope Option Price: Change to read: "The total fixed price for the certain
deliverables set forth in Article 7.2.2 is $10,496,000."

Instrument Option Price: Change to read: "The total fixed price for the certain
deliverables set forth in Article 7.2.3 is $12,981,000."

Restart Prices: Change as follows:

                                              Delivery (calculated from
      Restart Dates        QB #1 Prices         execution of Contract)
      -------------        ------------         ----------------------

   01/27/99 - 03/01/99      $34,300,000                20.5 mos.
<PAGE>

 . No. 3    Instrument Option Payment Schedule: Remains as follows:

     Due Date                 Amount $
     --------                 --------

     01/31/99                 $895,000
     02/28/99                 $895,000
     03/31/99                 $895,000

 . Substitute the attached revised SE.1M.PRJ.0004.A dated December 1, 1998
  payment milestone schedule with SE.1M.PRJ.0004.A dated January 22, 1999.
<PAGE>

                                                                SE.1M.PRJ.0004.A
                                                          Dated January 22, 1999

<TABLE>
<CAPTION>
      Pay        Description                                               Milestone     Total        Cumm
      Date                                                                   Value      Payment      Payment
--------------------------------------------------------------------------------------------------------------
<S> <C>       <C>                                                          <C>         <C>         <C>
0    6/9/98   a  Full set of optics received                               $  400,000  $1,200,000  $ 1,200,000
--------------------------------------------------------------------------------------------------------------
              b  RWAs received                                             $  400,000
--------------------------------------------------------------------------------------------------------------
              c  Primary & secondary optics bonded to optical moun         $  400,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
1   6/30/98   a  Spacecraft Test Requirement Document initial rele         $  400,000  $1,250,000  $ 2,450,000
--------------------------------------------------------------------------------------------------------------
              b  Optical bench preps complete                              $  400,000
--------------------------------------------------------------------------------------------------------------
              c  Full set of optical mounts complete                       $  400,000
--------------------------------------------------------------------------------------------------------------
              d  GPS Receiver order placed                                 $   50,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
2   7/31/98   a  Bus Structure complete (inserts & painting)               $  450,000  $1,250,000  $ 3,700,000
--------------------------------------------------------------------------------------------------------------
              b  Solid State Recorders complete                            $  400,000
--------------------------------------------------------------------------------------------------------------
              c  RF box Engineering Models received                        $  400,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
3   8/31/98   a  Primary/Secondary telescope roll test complete            $  450,000  $1,250,000  $ 4,950,000
--------------------------------------------------------------------------------------------------------------
              b  Power boxes complete (Battery, PDA, PCU)                  $  400,000
--------------------------------------------------------------------------------------------------------------
              c  Command & Telemetry Unit received                         $  400,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
4   9/30/98   a  Telescope Assy Complete (mirror pins staked)              $  450,000  $1,250,000  $ 6,200,000
--------------------------------------------------------------------------------------------------------------
              b  Propulsion module complete                                $  400,000
--------------------------------------------------------------------------------------------------------------
              c  Gimbal received                                           $  400,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
5  10/31/98   a  Telescope Vibration test complete                         $  720,000  $2,476,000  $ 8,676,000
--------------------------------------------------------------------------------------------------------------
              b  Wideband data interface EM test complete (SSS             $  420,000
                 simulator, SSR, & WBT)
--------------------------------------------------------------------------------------------------------------
              c  Phase 1 & 2 harness complete                              $  420,000
--------------------------------------------------------------------------------------------------------------
              d  Structure preps complete (heaters, thermistors)           $  420,000
--------------------------------------------------------------------------------------------------------------
              e  Spacecraft Computer received                              $  420,000
--------------------------------------------------------------------------------------------------------------
              f  Narrow Band Modulation Indexing                           $   76,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
6   12/1/98   a  Telescope Thermal cycle test complete                     $  225,000  $1,300,000  $ 9,976,000
--------------------------------------------------------------------------------------------------------------
              b  Instrument radiator thermal test complete                 $  215,000
--------------------------------------------------------------------------------------------------------------
              c  Phase 3, 4, & 5 harness complete                          $  215,000
--------------------------------------------------------------------------------------------------------------
              e  STOC certified                                            $  215,000
--------------------------------------------------------------------------------------------------------------
              f  Initial Spacecraft Power on                               $  215,000
--------------------------------------------------------------------------------------------------------------
              g  Flight software loaded into software test bench           $  215,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
    1/19/99   a  Execution of Amendment 11                                 $  200,000  $  200,000  $10,176,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
    1/25/99   a  Execution of Amendment 12                                 $  120,000  $  120,000  $10,296,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
7   1/31/99   a  Flight Software (thru FQT) loaded into SCC                $1,175,000  $6,495,000  $16,791,000
--------------------------------------------------------------------------------------------------------------
              b  Mid deck integration complete (RWAs & torquers)           $1,240,000
--------------------------------------------------------------------------------------------------------------
              c  Telescope vacuum dryout complete (inc post therm          $1,360,000
--------------------------------------------------------------------------------------------------------------
              d  Complete EPDS integration                                 $1,360,000
--------------------------------------------------------------------------------------------------------------
              e  SCC Integration complete                                  $1,360,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
8   2/28/99   a  SSS & SSR functional test complete                        $  600,000  $3,000,000  $19,791,000
--------------------------------------------------------------------------------------------------------------
              b  Telescope ready for SSS integration                       $  600,000
--------------------------------------------------------------------------------------------------------------
              c  Sensor subsystem simulator integration complete           $  600,000
--------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

                                                                SE.1M.PRJ.0004.A
                                                          Dated January 22, 1999

<TABLE>
<S> <C>       <C>                                                          <C>         <C>         <C>
--------------------------------------------------------------------------------------------------------------
              d  Complete telescope thermal blanket installation           $  600,000
--------------------------------------------------------------------------------------------------------------
              e  Narrowband RF box set (XNBT & SBR) received               $  600,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
9   3/31/99   a  Focal Plane, installed, aligned & staked                  $  600,000  $3,000,000  $22,791,000
--------------------------------------------------------------------------------------------------------------
              b  Star tracker electrical integration complete (on bus)     $  600,000
--------------------------------------------------------------------------------------------------------------
              c  SAD/HDRS integration complete                             $  600,000
--------------------------------------------------------------------------------------------------------------
              d  Deployable cover & sunshade complete                      $  600,000
--------------------------------------------------------------------------------------------------------------
              e  Wideband RF box set (WBT) received                        $  600,060
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
10  4/30/99   a  Instrument SNR Measurement complete                       $  500,000  $1,000,000  $23,791,000
--------------------------------------------------------------------------------------------------------------
              b  Instrument ready to integrate into bus                    $  500,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
11  5/31/99   a  Bus ready for instrument integration                      $  500,000  $1,000,000  $24,791,000
--------------------------------------------------------------------------------------------------------------
              b  Instrument Installation complete                          $  500,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
12  6/30/99   a  Instrument integration complete                           $  500,000  $1,000,000  $25,791,000
--------------------------------------------------------------------------------------------------------------
              b  System baseline performance tests completed suc           $  500,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
13  7/31/99   a  Complete thermal blanket installation                     $  500,000  $1,000,000  $26,791,000
--------------------------------------------------------------------------------------------------------------
              b  Start Thermal Vac test                                    $  500,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
14  8/31/99   a  Successfully complete Thermal Vacuum Test                 $  500,000  $1,000,000  $27,791,000
--------------------------------------------------------------------------------------------------------------
              b  Complete Solar array installation                         $  500,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
15  9/30/99   a  Successfully complete End to End Compatability test       $  500,000  $1,000,000  $28,791,000
--------------------------------------------------------------------------------------------------------------
              b  Successfully complete Vibration Test                      $  500,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
16 10/31/99   a  Successfully complete acoustic test                       $  500,000  $1,000,000  $29,791,000
--------------------------------------------------------------------------------------------------------------
              b  Successfully complete post environmental deployme         $  500,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
17 11/30/99   a  Spacecraft Ready to ship                                  $3,000,000  $3,000,000  $32,791,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
18 12/31/99   a  Spacecraft ready for launch                               $  350,000  $  350,000  $33 141,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
19  1/30/99   a  Completion of In-Orbit test                               $  349,000  $  349,000  $33,490,000
--------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

                                  AMENDMENT 13

                                       to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

 This Amendment is issued to incorporate a change to the Contract document that
 incorporates a three (3) day extension to the various options and off-ramp
 election dates.

 Exhibit A - Terms and Conditions

            . Article 7, Stop Work Period and Mechanism
            . Article 7.2.2. Telescope Option
            . Article 7.2.3. Instrument Option

 Entire Agreement. This Amendment, hereto constitute the entire understanding of
 the parties with respect to the subject matter of this Amendment and supersedes
 all prior and contemporaneous agreements or understandings. By signing this
 Amendment, each party represents to the other that it has the authority to sign
 this Amendment and this Amendment is enforceable against it in accordance with
 its terms.

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
 executed by their respective duly authorized representatives.

 EARTHWATCH, INCORPORATED

     /s/ Herbert F. Satterlee III                    01/27/99
 By:_____________________________________________    ________________________
    Herbert F. Satterlee III                         Date
    Chief Executive Officer & President

 BALL AEROSPACE SYSTEMS DIVISION

     /s/ T.H. Lapotosky                              01/27/99
 By:_____________________________________________    ________________________
    T.H. Lapotosky                                   Date
    Director, Contracts & Government Compliance
<PAGE>

EXHIBIT A - TERMS AND CONDITIONS

Article 7 - Stop Work Period and Mechanism
------------------------------------------
 -  Change "January 27, 1999" to "January 29, 1999" in the first sentence.

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "January 27, 1999" to "January 29, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "January 27, 1999" to "January 29, 1999" in the first sentence.
<PAGE>

                                  AMENDMENT 14

                                       to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a three (3) day extension to the various options and off-ramp
election dates.

Exhibit A - Terms and Conditions

           . Article 7, Stop Work Period and Mechanism
           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Entire Agreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

    /s/ Herbert F. Satterlee III                    02/1/99
By:____________________________________________     ________________________
   Herbert F. Satterlee III                         Date
   Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

    /s/ T.H. Lapotosky                              01/29/99
By:____________________________________________     ________________________
   T.H. Lapotosky                                   Date
   Director, Contracts & Government Compliance
<PAGE>

EXHIBIT A - TERMS AND CONDITIONS

Article 7 - Stop Work Period and Mechanism
------------------------------------------
 -  Change "January 29, 1999" to "February 1, 1999" in the first sentence.

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "January 29, 1999" to "February 1, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "January 29, 1999" to "February 1, 1999" in the first sentence.
<PAGE>

                                  AMENDMENT 15

                                       to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment incorporates the following changes to the Contract.

Exhibit A - Terms and Conditions

           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Option to Purchase One (1) One Meter Space Segment

           . Price and Schedule
           . Payment Schedule

Exhibit E - Price and Payment Schedule

           . Full Project Deliverables and Services Price
           . Telescope Option Price
           . Instrument Option Price
           . Restart Price
           . Payment Schedule

Entire Agreement. This Amendment, including the EXHIBITS hereto constitute the
entire understanding of the parties with respect to the subject matter of this
Amendment and supersedes all prior and contemporaneous agreements or
understandings. By signing this Amendment, each party represents to the other
that it has the authority to sign this Amendment and this Amendment is
enforceable against it in accordance with its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.
<PAGE>

EARTHWATCH, INCORPORATED

    /s/ Herbert F. Satterlee III
By:____________________________________________     ________________________
   Herbert F. Satterlee III                         Date
   Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

    /s/ T.H. Lapotosky                              02/01/99
By:____________________________________________     ________________________
   T.H. Lapotosky                                   Date
   Director, Contracts & Government Compliance
<PAGE>

      EXHIBIT A TO CONTRACT FOR THE EARTHWATCH PROJECT ONE QUICKBIRD SPACE
                          SEGMENT TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option: Change the first and second sentences to read:
"On or before February 16, 1999, EarthWatch can notify BATC of its intent to
exercise its option to purchase the following components as defined in the
Statement of Work: the assembled telescope including "STIM Lamp" following one
completed vibration and thermal test, one set of the Solid State Recorders, one
set of Wide Band Transmitters, one High Gain Antenna, one High Gain Antenna
Gimbal with associated wide band radio frequency materials including
Subcontracted items, two sets of "S" Band Receivers and two sets of "X-Narrow"
Band Transmitters. Delivery of these components shall occur on or before March
31, 1999, with the exception of the 2nd set of RF Components. These components
will be delivered on or before June 30, 1999."

Article 7.2.3 - Instrument Option: Change the first and second sentences to
read: "On or before February 16, 1999, EarthWatch can notify BATC of its intent
to exercise its option to purchase the following components as defined in the
Statement of Work: the telescope including "STIM Lamp" and the EarthWatch
provided (through Kodak) Sensor Subsystem, one set of Solid State Recorders, one
set of Wide Band Transmitters with Radio Frequency material, one High Gain
Antenna, one High Gain Antenna Gimbal, two sets of "S" Band Receivers and two
sets of "X-Narrow" Band Transmitters. Delivery of these components shall occur
on or before May 31, 1999, with the exception of the 2nd set of RF Components.
These components will be delivered on or before June 30, 1999."

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

 . Price and Schedule: Change the Contract Start Date and Price as follows:
  -------------------

  Exercise Period    Contract Start Date        Price        Delivery Schedule
  ---------------    -------------------        -----        -----------------
       No. 1         6/1/98 thru 2/16/99     $31,050,000     December 1, 2000

 . Payment Schedule:
  -----------------

  Prior to exercise, EarthWatch and BATC shall negotiate detailed milestones
  associated with the nominal payment schedule set forth below:
<PAGE>

<TABLE>
<CAPTION>
          ---------------------------------
          Pay Date               Payment $
          ---------------------------------
          <S>                   <C>
          1-Apr-99              $ 2,900,000
          1-May-99              $ 2,900,000
          1-Jun-99              $ 2,900,000
          1-Jul-99              $ 2,900,000
          1-Aug-99              $ 2,900,000
          1-Sep-99              $ 1,500,000
          1-Oct-99              $ 1,500,000
          1-Nov-99              $ 1,300,000
          1-Dec-99              $ 1,300,000
          1-Jan-00              $ 1,300,000
          1-Feb-00              $ 1,300,000
          1-Mar-00              $ 1,120,000
          1-Apr-00              $   700,000
          1-May-00              $   700,000
          1-Jun-00              $   700,000
          1-Jul-00              $   700,000
          1-Aug-00              $   700,000
          1-Sep-00              $   700,000
          1-Oct-00              $   700,000
          1-Nov-00              $   330,000
          1-Dec-00              $ 2,000,000
          ---------------------------------
            Total               $31,050,000
          ---------------------------------
</TABLE>

EXHIBIT E - PRICE AND PAYMENT SCHEDULE

Full Project Deliverables and Services Price: The first sentence is to be
changed to read "The total fixed price for the Deliverables and Services for the
first One (1) Meter QuickBird Space Segment is $33,795,000."

Telescope Option Price: Change to read: "The total fixed price for the certain
deliverables set forth in Article 7.2.2 is $10,576,000."

Instrument Option Price: Change to read: "The total fixed price for the certain
deliverables set forth in Article 7.2.3 is $13,061,000."

Restart Prices: DELETE

 . No. 3    Instrument Option Payment Schedule: Remains as follows:

     Due Date          Amount $
     --------          --------

     03/31/99          $895,000
     04/30/99          $895,000
     05/31/99          $895,000
<PAGE>

 . Substitute the attached revised SE.1M.PRJ.0004.A dated January 22, 1998
  payment milestone schedule with SE.1M.PRJ.0004.A dated February 1, 1999.
<PAGE>

                                                                SE.1M.PRJ.0004.A
                                                             Amendment Number 15
                                                           Dated 1 February 1999
<TABLE>
<CAPTION>
     Pay                                                                  Milestone      Total         Cumm
     Date       Description                                                 Value       Payment       Payment
---------------------------------------------------------------------------------------------------------------
<S>             <C>                                                       <C>          <C>          <C>
---------------------------------------------------------------------------------------------------------------
0   6/9/98   a  Full set of optics received                               $  400,000   $1,200,000   $ 1,200,000
---------------------------------------------------------------------------------------------------------------
             b  RWAs received                                             $  400,000
---------------------------------------------------------------------------------------------------------------
             c  Primary & secondary optics bonded to optical mount        $  400,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
1   6/30/98  a  Spacecraft Test Requirement Document initial relea        $  400,000   $1,250,000   $ 2,450,000
---------------------------------------------------------------------------------------------------------------
             b  Optical bench preps complete                              $  400,000
---------------------------------------------------------------------------------------------------------------
             c  Full set of optical mounts complete                       $  400,000
---------------------------------------------------------------------------------------------------------------
             d  GPS Receiver order placed                                 $   50,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
2   7/31/98  a  Bus Structure complete (inserts & painting)               $  450,000   $1,250,000   $ 3,700,000
---------------------------------------------------------------------------------------------------------------
             b  Solid State Recorders complete                            $  400,000
---------------------------------------------------------------------------------------------------------------
             c  RF box Engineering Models received                        $  400,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
3   8/31/98  a  Primary/Secondary telescope roll test complete            $  450,000   $1,250,000   $ 4,950,000
---------------------------------------------------------------------------------------------------------------
             b  Power boxes complete (Battery, PDA, PCU)                  $  400,000
---------------------------------------------------------------------------------------------------------------
             c  Command & Telemetry Unit received                         $  400,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
4   9/30/98  a  Telescope Assy Complete (mirror pins staked)              $  450,000   $1,250,000   $ 6,200,000
---------------------------------------------------------------------------------------------------------------
             b  Propulsion module complete                                $  400,000
---------------------------------------------------------------------------------------------------------------
             c  Gimbal received                                           $  400,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
5  10/31/98  a  Telescope Vibration test complete                         $  720,000   $2,476,000   $ 8,676,000
---------------------------------------------------------------------------------------------------------------
             b  Wideband data interface EM test complete (SSS
                simulator, SSR, & WBT)                                    $  420,000
---------------------------------------------------------------------------------------------------------------
             c  Phase 1 & 2 harness complete                              $  420,000
---------------------------------------------------------------------------------------------------------------
             d  Structure preps complete (heaters, thermistors)           $  420,000
---------------------------------------------------------------------------------------------------------------
             e  Spacecraft Computer received                              $  420,000
---------------------------------------------------------------------------------------------------------------
             f  Narrow Band Modulation Indexing                           $   76,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
6   12/1/98  a  Telescope Thermal cycle test complete                     $  225,000   $1,300,000   $ 9,976,000
---------------------------------------------------------------------------------------------------------------
             b  Instrument radiator thermal test complete                 $  215,000
---------------------------------------------------------------------------------------------------------------
             c  Phase 3, 4, & 5 harness complete                          $  215,000
---------------------------------------------------------------------------------------------------------------
             e  STOC certified                                            $  215,000
---------------------------------------------------------------------------------------------------------------
             f  Initial Spacecraft Power on                               $  215,000
---------------------------------------------------------------------------------------------------------------
             g  Flight software loaded into software test bench           $  215,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
7   1/19/99  a  Execution of Amendment 11                                 $  200,000   $  200,000   $10,176,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
8   1/25/99  a  Execution of Amendment 12                                 $  120,000   $  120,000   $10,296,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
8    2/1/99  a  Execution of Amendment 15                                 $   80,000   $   80,000   $10,376,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
10  3/31/99  a  Focal Plane, installed, aligned & staked                  $1,000,000   $3,930,000   $14,306,000
---------------------------------------------------------------------------------------------------------------
             b  Star tracker electrical integration complete (on bus)     $1,000 000
---------------------------------------------------------------------------------------------------------------
             c  SAD/HDRS integration complete                             $1,000,000
---------------------------------------------------------------------------------------------------------------
             d  Narrowband RF box set (XNBT & SBR) received               $  930,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
11  4/30/99  a  Instrument SNR Measurement complete                       $1,000,000   $3,930,000   $18,236,000
---------------------------------------------------------------------------------------------------------------
             b  Instrument ready to integrate into bus                    $1,000,000
---------------------------------------------------------------------------------------------------------------
             c  Wideband RF box set (WBT) received                        $1,000,000
---------------------------------------------------------------------------------------------------------------
             d  Deployable cover & sunshade complete                      $  930,000
---------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

                                                                SE.1M.PRJ.0004.A
                                                             Amendment Number 15
                                                           Dated 1 February 1999
<TABLE>
<S>             <C>                                                       <C>          <C>          <C>
---------------------------------------------------------------------------------------------------------------
12  5/31/99  a  Bus ready for instrument integration                      $2,000,000   $3,930,000   $22,166,000
---------------------------------------------------------------------------------------------------------------
             b  Instrument Installation complete                          $1,930,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
13  6/30/99  a  Instrument integration complete                           $2,000,000   $3,930,000   $26,096,000
---------------------------------------------------------------------------------------------------------------
             b  System baseline performance tests completed suce          $1,930,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
14  7/31/99  a  Complete thermal blanket installation                     $  500,000   $1,000,000   $27,096,000
---------------------------------------------------------------------------------------------------------------
             b  Start Thermal Vac test                                    $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
15  8/31/99  a  Sucessfully complete Thermal Vacuum Test                  $  500,000   $1,000,000   $28,096,000
---------------------------------------------------------------------------------------------------------------
             b  Complete Solar array installation                         $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
16  9/30/99  a  Sucessfully complete End to End Compatability test        $  500,000   $1,000,000   $29,096,000
---------------------------------------------------------------------------------------------------------------
             b  Sucessfully complete Vibration Test                       $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
17 10/31/99  a  Sucessfully complete acoustic test                        $  500,000   $1,000,000   $30,096,000
---------------------------------------------------------------------------------------------------------------
             b  Sucessfully complete post environmental deployme          $  500,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
18 11/30/99  a  Spacecraft Ready to ship                                  $3,000,000   $3,000,000   $33,096,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
19 12/31/99  a  Spacecraft ready for launch                               $  350,000   $  350,000   $33,446,000
---------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------
20  1/30/99  a  Completion of In-Orbit test                               $  349,000   $  349,000   $33,795,000
---------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

                                AMENDMENT 16

                                      to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

    This Amendment is issued to incorporate a change to the Contract document
    that incorporates a fifteen (15) day extension to the various options and
    off-ramp election dates.

    Exhibit A - Terms and Conditions

              . Article 7.2.2. Telescope Option
              . Article 7.2.3. Instrument Option

    Exhibit B - Price and Schedule

              . Price and Schedule

    Entire Agreement. This Amendment, hereto constitute the entire understanding
    of the parties with respect to the subject matter of this Amendment and
    supersedes all prior and contemporaneous agreements or understandings. By
    signing this Amendment, each party represents to the other that it has the
    authority to sign this Amendment and this Amendment is enforceable against
    it in accordance with its terms.

    IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
    executed by their respective duly authorized representatives.

    EARTHWATCH, INCORPORATED

       /s/ Shawn R. Thompson                             2/16/99
    By:_____________________________________________     ______________________
       Shawn R. Thompson                                 Date
       Director of Contracts

    BALL AEROSPACE SYSTEMS DIVISION

       /s/ Raul A. Rossell                               2/17/99
    By:_____________________________________________     ______________________
       for T.H. Lapotosky                                Date
       Director, Contracts & Government Compliance
<PAGE>

                                       AMENDMENT 16 to CONTRACT SE.1M.PRJ.0004.A

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
---------------------------------

 -  Change "February 16, 1999" to "March 2, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------

 -  Change "February 16, 1999" to "March 2, 1999" in the first sentence.

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
------------------

 -  Change the Contract Start Date from "6/1/98 thru 2/16/99" to "6/1/98 thru
    3/2/99."
<PAGE>

                                  AMENDMENT 17

                                      to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

      EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a thirteen- (13) day extension to the various options and off-ramp
election dates.

Exhibit A - Terms and Conditions

           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Price and Schedule

           . Price and Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

   /s/ Shawn R. Thompson                             3/2/99
By:_____________________________________________     ______________________
   Shawn R. Thompson                                 Date
   Director of Contracts

BALL AEROSPACE SYSTEMS DIVISION

   /s/ Raul A. Rossell                               3/12/99
By:_____________________________________________     ______________________
   Raul A. Rossell                                   Date
   Manager of Contracts
   Commercial Space Operations
<PAGE>

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "March 2, 1999" to "March 15, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "March 2, 1999" to "March 15, 1999" in the first sentence.

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
------------------
 -  Change the Contract Start Date from "6/1/98 thru 3/02/99" to "6/1/98 thru
    3/15/99."
<PAGE>

                                  AMENDMENT 18

                                       to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a seven (7) day extension to the various options and off-ramp
election dates.

Exhibit A - Terms and Conditions

           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Price and Schedule

           . Price and Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

   /s/ Shawn R. Thompson                             3/15/99
By:_____________________________________________     ______________________
   for Herbert F. Satterlee III                       Date
   Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

   /s/ Raul A. Rossell                               3/15/99
By:_____________________________________________     ______________________
   Raul A. Rossell                                   Date
   Manager of Contracts
   Commercial Space Operations
<PAGE>

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "March 15, 1999" to "March 22, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "March 15, 1999" to "March 22, 1999" in the first sentence.

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
------------------
 -  Change the Contract Start Date from "6/1/98 thru 3/15/99" to "6/1/98 thru
    3/22/99."
<PAGE>

                                AMENDMENT 19

                                    to

                           CONTRACT SE.1M.PRJ.0004.A

                                  between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                  for the

                      CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document
that incorporates a seven (7) day extension to the various options and off-
ramp election dates and administrative modification to BATC's Notices
addresses and BATC's Contracts Authorization Representatives.

Exhibit A - Terms and Conditions

           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option
           . Article 16.2. Notices
           . Article 16.2.1. Authorization Representative

Exhibit B - Price and Schedule

           . Price and Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding
of the parties with respect to the subject matter of this Amendment and
supersedes all prior and contemporaneous agreements or understandings. By
signing this Amendment, each party represents to the other that it has the
authority to sign this Amendment and this Amendment is enforceable against it
in accordance with its terms,

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

   /s/ Herbert F. Satterlee III                      3/22/99
By:_____________________________________________     ______________________
   Herbert F. Satterlee III                          Date
   Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

   /s/ David Taylor                                  3/22/99
By:_____________________________________________     ______________________
   David Taylor                                      Date
   Vice President of Commercial Space Operations

                                    1 of 2
<PAGE>

                                                                    AMENDMENT 19
                                                       CONTRACT SE.1M.PRJ.0004.A

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "March 22, 1999" to "March 29, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "March 22, 1999" to "March 29, 1999" in the first sentence.

Article 16.2 - Notices
----------------------
 -  Change the BATC addressee as follows:

From                        To
----                        --
BATC                        BATC
----                        ----

BATC                        BATC
P.C. Box 1062               P.O. Box 1062
Boulder, CO 80306           Boulder, CO 80306
Attn.:                      Attn.: Raul A. Rossell
                            Manager of Contracts
                            Facsimile No.: 303-939-5315

Article 16.2.1 - Authorization Representative:
----------------------------------------------
 -  Change BATC Contracts Authorized Representatives as follows:

From                        To
----                        --
                            Raul A. Rossell
                            Manager of Contracts

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
------------------
 -  Change the Contract Start Date from "6/1/98 thru 3/22/99" to "6/1/98
    thru 3/29/99."

                                   2 of 2
<PAGE>

                            AMENDMENT 20

                                 to

                       CONTRACT SE.1M.PRJ.0004.A

                               between

    EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                              for the

                   CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a one (1) day extension to the various options and off-ramp
election dates and administrative modification to BATC's Notices addressee and
BATC's Contracts Authorization Representatives.

Exhibit A - Terms and Conditions

           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Price and Schedule

           . Price and Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

   /s/ Shawn R. Thompson                             3/29/99
By:_____________________________________________     ______________________
   Shawn R. Thompson                                 Date
   Director of Contracts

BALL AEROSPACE SYSTEMS DIVISION

   /s/ Raul A. Rossell                               3/30/99
By:_____________________________________________     ______________________
   Raul A. Rossell                                   Date
   Manager of Contracts

                                   1 of 2
<PAGE>

                                                                    AMENDMENT 20
                                                       CONTRACT SE.1M.PRJ.0004.A

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "March 29, 1999" to "March 30, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "March 29, 1999" to "March 30, 1999" in the first sentence.

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
------------------
 -  Change the Contract Start Date from "6/1/98 thru 3/29/99" to "6/1/98 thru
    3/30/99."

                                2 of 2
<PAGE>

                            AMENDMENT 21

                                 to

                       CONTRACT SE.1M.PRJ.0004.A

                               between

    EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                               for the

                   CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a one (1) day extension to the various options and off-ramp
election dates and administrative modification to BATC's Notices addressee and
BATC's Contracts Authorization Representatives.

Exhibit A - Terms and Conditions

           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Price and Schedule

           . Price and Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

   /s/ Shawn R. Thompson                             30 Mar 99
By:_____________________________________________     ______________________
   Shawn R. Thompson                                 Date
   Director of Contracts

BALL AEROSPACE SYSTEMS DIVISION

   /s/ Raul A. Rossell                               31 March 1999
By:_____________________________________________     ______________________
   Raul A. Rossell                                   Date
   Manager of Contracts

                                    1 of 2
<PAGE>

                                                                    AMENDMENT 21
                                                       CONTRACT SE.1M.PRJ.0004.A

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "March 30, 1999" to "March 31, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "March 30, 1999" to "March 31, 1999" in the first sentence.

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
------------------
 -  Change the Contract Start Date from "6/1/98 thru 3/30/99" to "6/1/98 thru
    3/31/99."

                                2 of 2
<PAGE>

                                AMENDMENT 22

                                     to

                           CONTRACT SE.1M.PRJ.0004.A

                                  between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                  for the

                      CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document
that incorporates a one (1) day extension to the various options and off-ramp
election dates and administrative modification to BATC's Notices addressee
and BATC's Contracts Authorization Representatives.

Exhibit A - Terms and Conditions

           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Price and Schedule

           . Price and Schedule

Exhibit E - Price and Payment Schedule

Entire Agreement. This Amendment, hereto constitutes the entire understanding
of the parties with respect to the subject matter of this Amendment and
supersedes all prior and contemporaneous agreements or understandings. By
signing this Amendment, each party represents to the other that it has the
authority to sign this Amendment and this Amendment is enforceable against it
in accordance with its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

By: /s/ Shawn Thompson                               4/1/99
    -----------------------------------              -----------------------
for Herbert F. Satterlee III                         Date
    Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

By: /s/ Raul A. Rossell                              4/1/99
    -----------------------------------              -----------------------
    Raul A. Rossell                                  Date
    Manager of Contracts

                                    1 of 2
<PAGE>

                                                                    AMENDMENT 22
                                                       CONTRACT SE.lM.PRJ.0004.A

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "March 31, 1999" to "April 1, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "March 31, 1999" to "April 1, 1999" in the first sentence.

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
------------------
 -  Change the Contract Start Date from "6/1/98 thru 3/31/99" to "6/1/98 thru
    4/1/99."

EXHIBIT E - PRICE AND PAYMENT SCHEDULE
 -  Change item 10 of Payment Schedule for Contract SE.1M.PRJ.0004.A dated 1
February 1999 from "3/31/99" to "4/1/99".

                                    2 of 2
<PAGE>

                            AMENDMENT 23

                                 to

                       CONTRACT SE.1M.PRJ.0004.A

                               between

   EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                              for the

                   CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a one (1) day extension to the various options and off-ramp
election dates and administrative modification to BATC's Notices addressee and
BATC's Contracts Authorization Representatives.

Exhibit A - Terms and Conditions

           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Price and Schedule

           . Price and Schedule
           . Payment Schedule

Exhibit E - Price and Payment Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

   /s/ Shawn Thompson                            1 Apr 99
By:__________________________________________    ______________________
   Herbert F. Satterlee III                      Date
   Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

   /s/ Raul A. Rossell                           4/2/99
By:__________________________________________    ______________________
   Raul A. Rossell                               Date
   Manager of Contracts

                                    1 of 2
<PAGE>

                                                                    AMENDMENT 23
                                                       CONTRACT SE.1M.PRJ.0004.A

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "April 1, 1999" to "April 2, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "April 1, 1999" to "April 2, 1999" in the first sentence.

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
------------------
 -  Change the Contract Start Date from "6/11/98 thru 4/1/99" to "6/11/98 thru
4/2/99."

Payment Schedule
----------------
 -  Change due date on detail milestone for initial payment from "April 1, 1999"
to "April 2, 1999"

EXHIBIT E - PRICE AND PAYMENT SCHEDULE
 -  Change item 10 of Payment Schedule for Contract SE.1M.PRJ.0004.A dated 1
February 1999 from "4/1/99" to "4/2/99".

                                    2 of 2
<PAGE>

                            AMENDMENT 24

                                 to

                       CONTRACT SE.1M.PRJ.0004.A

                              between

   EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                              for the

                   CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a three (3) day extension to the various options and off-ramp
election dates and administrative modification to BATC's Notices addressee and
BATC's Contracts Authorization Representatives.

Exhibit A - Terms and Conditions

           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Price and Schedule

           . Price and Schedule
           . Payment Schedule

Exhibit E - Price and Payment Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

   /s/ Shawn Thompson                            4/2/99
By:__________________________________________    ______________________
   Herbert F. Satterlee III                      Date
   Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

   /s/ Raul A. Rossell                           4/5/99
By:__________________________________________    ______________________
   Raul A. Rossell                               Date
   Manager of Contracts

                                    1 of 2
<PAGE>

                                                                    AMENDMENT 24
                                                       CONTRACT SE.1M.PRJ.0004.A

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "April 2, 1999" to "April 5, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "April 2, 1999" to "April 5, 1999" in the first sentence.

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
------------------
 -  Change the Contract Start Date from "6/1/98 thru 4/2/99" to "6/1/98 thru
4/5/99."

Payment Schedule
----------------
 -  Change due date on detail milestone for initial payment from "April 2, 1999"
to "April 5, 1999"

EXHIBIT E - PRICE AND PAYMENT SCHEDULE
 -  Change item 10 of Payment Schedule for Contract SE.1M.PRJ.0004.A dated 1
February 1999 from "4/2/99" to "4/5/99".

                                    2 of 2
<PAGE>

                            AMENDMENT 25

                                 to

                       CONTRACT SE.1M.PRJ.0004.A

                               between

    EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                               for the

                   CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a one (1) day extension to the various options and off-ramp
election dates and administrative modification to BATC's Notices addressee and
BATC's Contracts Authorization Representatives.

Exhibit A - Terms and Conditions

           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Price and Schedule

           . Price and Schedule
           . Payment Schedule

Exhibit E - Price and Payment Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

   /s/ Shawn Thompson                            4/5/99
By:__________________________________________    ______________________
   Herbert F. Satterlee III                      Date
   Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

   /s/ Raul A. Rossell                           4/5/99
By:__________________________________________    ______________________
   Raul A. Rossell                               Date
   Manager of Contracts

                                    1 of 2
<PAGE>

                                                                    AMENDMENT 25
                                                       CONTRACT SE.1M.PRJ.0004.A

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "April 5, 1999" to "April 6, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "April 5, 1999" to "April 6, 1999" in the first sentence.

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
------------------
 -  Change the Contract Start Date from "6/1/98 thru 4/5/99" to "6/1/98 thru
4/6/99."

Payment Schedule
----------------
 -  Change due date on detail milestone for initial payment from "April 5, 1999"
to "April 6, 1999"

EXHIBIT E - PRICE AND PAYMENT SCHEDULE
 -  Change item 10 of Payment Schedule for Contract SE.1M.PRJ.0004.A dated 1
February 1999 from "4/5/99" to "4/6/99".

                                    2 of 2
<PAGE>

                            AMENDMENT 26

                                 to

                      CONTRACT SE.1M.PRJ.0004.A

                              between

   EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                              for the

                   CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a one (1) day extension to the various options and off-ramp
election dates and administrative modification to BATC's Notices addressee and
BATC's Contracts Authorization Representatives.

Exhibit A - Terms and Conditions

           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Price and Schedule

           . Price and Schedule
           . Payment Schedule

Exhibit E - Price and Payment Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

   /s/ Shawn Thompson                            4/6/99
By:__________________________________________    ______________________
   Herbert F. Satterlee III                      Date
   Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

   /s/ Raul A. Rossell                           4/6/99
By:__________________________________________    ______________________
   Raul A. Rossell                               Date
   Manager of Contracts

                                    1 of 2
<PAGE>

                                                                    AMENDMENT 26
                                                       CONTRACT SE.1M.PRJ.0004.A

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "April 6, 1999" to "April 7, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "April 6, 1999" to "April 7, 1999" in the first sentence.

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
------------------
 -  Change the Contract Start Date from "6/1/98 thru 4/6/99" to "6/1/98 thru
4/7/99."

Payment Schedule
----------------
 -  Change due date on detail milestone for initial payment from "April 6, 1999"
to "April 7, 1999"

EXHIBIT E - PRICE AND PAYMENT SCHEDULE
 -  Change item 10 of Payment Schedule for Contract SE.1M.PRJ.0004.A dated 1
February 1999 from "4/6/99" to "4/7/99".

                                    2 of 2
<PAGE>

                             AMENDMENT 27

                                 to

                       CONTRACT SE.1M.PRJ.0004.A

                               between

    EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                               for the

                   CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a one (1) day extension to the various options and off-ramp
election dates and administrative modification to BATC's Notices addressee and
BATC's Contracts Authorization Representatives.

Exhibit A - Terms and Conditions

          . Article 7.2.2. Telescope Option
          . Article 7.2.3. Instrument Option

Exhibit B - Price and Schedule

          . Price and Schedule
          . Payment Schedule

Exhibit E - Price and Payment Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

   /s/ Shawn Thompson                            4/7/99
By:__________________________________________    ______________________
   Herbert F. Satterlee III                      Date
   Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

   /s/ Raul A. Rossell                           4/7/99
By:__________________________________________    ______________________
   Raul A. Rossell                               Date
   Manager of Contracts

                                    1 of 2
<PAGE>

                                                                    AMENDMENT 27
                                                       CONTRACT SE.1M.PRJ.0004.A

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "April 7, 1999" to "April 8, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "April 7, 1999" to "April 8, 1999" in the first sentence.

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
------------------
 -  Change the Contract Start Date from "6/1/98 thru 4/7/99" to "6/1/98 thru
4/8/99."

Payment Schedule
----------------
 -  Change due date on detail milestone for initial payment from "April 7, 1999"
to "April 8, 1999"

EXHIBIT E - PRICE AND PAYMENT SCHEDULE
 -  Change item 10 of Payment Schedule for Contract SE.1M.PRJ.0004.A dated 1
February 1999 from "4/7/99" to "4/8/99".

                                    2 of 2
<PAGE>

                            AMENDMENT 28

                                 to

                      CONTRACT SE.1M.PRJ.0004.A

                              between

    EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                              for the

                   CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a one (1) day extension to the various options and off-ramp
election dates and administrative modification to BATC's Notices addressee and
BATC's Contracts Authorization Representatives.

Exhibit A - Terms and Conditions

           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Price and Schedule

           . Price and Schedule
           . Payment Schedule

Exhibit E - Price and Payment Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

   /s/ Shawn Thompson                            8 Apr 99
By:__________________________________________    ______________________
   Shawn Thompson                                Date
   Director of Contracts

BALL AEROSPACE SYSTEMS DIVISION

By:__________________________________________    ______________________
   Raul A. Rossell                               Date
   Manager of Contracts

                                    1 of 2
<PAGE>

                            AMENDMENT 28

                                 to

                      CONTRACT SE.1M.PRJ.0004.A

                               between

   EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                              for the

                   CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a one (1) day extension to the various options and off-ramp
election dates and administrative modification to BATC's Notices addressee and
BATC's Contracts Authorization Representatives.

Exhibit A - Terms and Conditions

           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Price and Schedule

           . Price and Schedule
           . Payment Schedule

Exhibit E - Price and Payment Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

By:__________________________________________    ______________________
   Herbert F. Satterlee III                      Date
   Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

   /s/ Raul A. Rossell                           4/8/99
By:__________________________________________    ______________________
   Raul A. Rossell                               Date
   Manager of Contracts

                                    1 of 2
<PAGE>

                                                                    AMENDMENT 28
                                                       CONTRACT SE.1M.PRJ.0004.A

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "April 8, 1999" to "April 9, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "April 8, 1999" to "April 9, 1999" in the first sentence.

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
-------------------
 -  Change the Contract Start Date from "6/1/98 thru 4/8/99" to "6/1/98 thru
4/9/99."

Payment Schedule
----------------
 -  Change due date on detail milestone for initial payment from "April 8, 1999"
to "April 9, 1999"

EXHIBIT E - PRICE AND PAYMENT SCHEDULE
 -  Change item 10 of Payment Schedule for Contract SE.1M.PRJ.0004.A dated 1
February 1999 from "4/8/99" to "4/9/99".

                                    2 of 2
<PAGE>

                                AMENDMENT 29

                                    to

                          CONTRACT SE.1M.PRJ.0004.A

                                  between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                  for the

                      CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a three (3) day extension to the various options and off-ramp
election dates and administrative modification to BATC's Notices addressee and
BATC's Contracts Authorization Representatives.

Exhibit A - Terms and Conditions

          . Article 7.2.2. Telescope Option
          . Article 7.2.3. Instrument Option

Exhibit B - Price and Schedule

          . Price and Schedule
          . Payment Schedule

Exhibit E - Price and Payment Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding
of the parties with respect to the subject matter of this Amendment and
supersedes all prior and contemporaneous agreements or understandings. By
signing this Amendment, each party represents to the other that it has the
authority to sign this Amendment and this Amendment is enforceable against
it in accordance with its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

   /s/ Shawn Thompson                            4/9/99
By:__________________________________________    ______________________
   for Herbert F. Satterlee III                  Date
   Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

   /s/ Raul A. Rossell                           4/9/99
By:__________________________________________    ______________________
   Raul A. Rossell                               Date
   Manager of Contracts

                                   1 of 2
<PAGE>

                                                                    AMENDMENT 29
                                                       CONTRACT SE.1M.PRJ.0004.A

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "April 9, 1999" to "April 12, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "April 89, 1999" to "April 12, 1999" in the first sentence.

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
-------------------
 -  Change the Contract Start Date from "6/1/98 thru 4/9/99" to "6/1/98 thru
4/12/99."

Payment Schedule
----------------
 -  Change due date on detail milestone for initial payment from "April 9,
1999" to "April 12, 1999"

EXHIBIT E - PRICE AND PAYMENT SCHEDULE
 -  Change item 10 of Payment Schedule for Contract SE.1M.PRJ.0004.A dated 1
February 1999 from "4/9/99" to "4/12/99".

                                    2 of 2
<PAGE>

                            AMENDMENT 30

                                 to

                      CONTRACT SE.1M.PRJ.0004.A

                               between

   EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                               for the

                   CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a one (1) business day extension to the various options and off-
ramp election dates and administrative modification to BATC's Notices addressee
and BATC's Contracts Authorization Representatives.

Exhibit A - Terms and Conditions

           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Price and Schedule

           . Price and Schedule
           . Payment Schedule

Exhibit E - Price and Payment Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

   /s/ Shawn Thompson                            4/12/99
By:__________________________________________    ______________________
   Shawn Thompson                                Date
   Director of Contracts

BALL AEROSPACE SYSTEMS DIVISION

   /s/ Raul A. Rossell                           4/12/99
By:__________________________________________    ______________________
   Raul A. Rossell                               Date
   Manager of Contracts

                                    1 of 2
<PAGE>

                                                                    AMENDMENT 30
                                                       CONTRACT SE.1M.PRJ.0004.A

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "April 12, 1999" to "April 13, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "April 12, 1999" to "April 13, 1999" in the first sentence.

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
-------------------
 -  Change the Contract Start Date from "6/1/98 thru 4/12/99" to "6/1/98 thru
4/13/99."

Payment Schedule
----------------
 -  Change due date on detail milestone for initial payment from "April 12,
1999" to "April 13, 1999"

EXHIBIT E - PRICE AND PAYMENT SCHEDULE
  -  Change item 10 of Payment Schedule for Contract SE.1M.PRJ.0004.A dated 1
February 1999 from "4/12/99" to "4/13/99".

                                    2 of 2
<PAGE>

                            AMENDMENT 31

                                 to

                       CONTRACT SE.1M.PRJ.0004.A

                              between

   EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                              for the

                   CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment is issued to incorporate a change to the Contract document that
incorporates a one (1) business day extension to the various options and off-
ramp election dates and administrative modification to BATC's Notices addressee
and BATC's Contracts Authorization Representatives.

Exhibit A - Terms and Conditions

           . Article 7.2.2. Telescope Option
           . Article 7.2.3. Instrument Option

Exhibit B - Price and Schedule

           . Price and Schedule
           . Payment Schedule

Exhibit E - Price and Payment Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

   /s/ Shawn Thompson                            4/13/99
By:__________________________________________    ______________________
   Shawn Thompson                                Date
   Director of Contracts

BALL AEROSPACE SYSTEMS DIVISION

   /s/ Raul A. Rossell                           4/13/99
By:__________________________________________    ______________________
   Raul A. Rossell                               Date
   Manager of Contracts

                                    1 of 2
<PAGE>

                                                                    AMENDMENT 31
                                                       CONTRACT SE.1M.PRJ.0004.A

EXHIBIT A - TERMS AND CONDITIONS

Article 7.2.2 - Telescope Option
--------------------------------
 -  Change "April 13, 1999" to "April 14, 1999" in the first sentence.

Article 7.2.3 - Instrument Option
---------------------------------
 -  Change "April 13, 1999" to "April 14, 1999" in the first sentence.

EXHIBIT B - OPTION TO PURCHASE ONE (1) ONE METER SPACECRAFT SEGMENT

Price and Schedule
------------------
 -  Change the Contract Start Date from "6/1/98 thru 4/13/99" to "6/1/98 thru
4/14/99."

Payment Schedule
----------------
 -  Change due date on detail milestone for initial payment from "April 13,
1999" to "April 14, 1999"

EXHIBIT E - PRICE AND PAYMENT SCHEDULE
 -  Change item 10 of Payment Schedule for Contract SE.1M.PRJ.0004.A dated 1
February 1999 from "4/13/99" to "4/14/99".

                                    2 of 2
<PAGE>

                                                                SE.1M.PRJ.0004.A

                                                                  April 14, 1999

                                   EXHIBIT B

                     OPTION TO PURCHASE ONE (1) ONE METER
                              SPACECRAFT SEGMENT

               (As Amended through Amendment 31 to the Contract)

Price & Schedule
----------------

Assuming EarthWatch is otherwise in full compliance with the contract and no
stop work is in effect, BATC grants to EarthWatch an Option to Purchase One (1)
additional One Meter QuickBird Space Segment in accordance with the Terms and
Conditions of this Contract. EarthWatch will signify its exercise of this option
by providing BATC a signed and dated copy of this Exhibit on or before the close
of business of the last day of the expiration of the "Exercise Period" noted
below. The Firm Price and the associated delivery schedule is indicated below.

Exercise
Period         Contract Start Date          Price        Delivery Schedule
------         --------------------         -----        -----------------
No. 1          6/l/98 thru 04/14/98      $31,050,000     December 1, 2000

Payment Schedule
----------------

Prior to exercise, EarthWatch and BATC shall negotiate detailed milestones
associated with the nominal payment schedule set forth below:

<TABLE>
<CAPTION>
--------------------------------
Pay Date               Payment $
--------------------------------
<S>                <C>
1-Apr-99               2,900,000
--------------------------------
1-May-99               2,900,000
--------------------------------
1 Jun-99               2,900,000
--------------------------------
1-Jul-99               2,900,000
--------------------------------
1-Aug-99               2,900,000
--------------------------------
1-Sep-99               1,500,000
--------------------------------
1-Oct-99               1,500,000
--------------------------------
1-Nov-99               1,300,000
--------------------------------
1-Dec-99               1,300,000
--------------------------------
1-Jan-00               1,300,000
--------------------------------
1-Feb-00               1,300,000
--------------------------------
1-Mar-00               1,120,000
--------------------------------
1-Apr-00                 700,000
--------------------------------
1-May-00                 700,000
--------------------------------
</TABLE>

         Public Release of Information Contained Herein is Controlled
          Per Contractual Agreement.                                       1
<PAGE>

                                                                SE.1M.PRJ.0004.A

                                                                  April 14, 1999
<TABLE>
<CAPTION>

<S>            <C>
1-Jun-00               700,000
------------------------------
1-Jul-00               700,000
------------------------------
1-Aug-00               700,000
------------------------------
1-Sep-00               700,000
------------------------------
1-Oct-00               700,000
------------------------------
1-Nov-00               330,000
------------------------------
1-Dec-00             2,000,000
------------------------------
Total              $31,050,000
------------------------------
</TABLE>

EarthWatch Inc.

 /s/ Walter S. Scott                 April 14, 1999
----------------------------         ------------------------
Name                                 Date

-----------------------------
Signature

          Public Release of Information Contained Herein is Controlled
          Per Contractual Agreement.                                   2
<PAGE>

                                  AMENDMENT 32

                                       to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

       EARTHWATCH, INCORPORATED AND BALL AEROSPACE AND TECHNOLOGIES CORP.

                                    for the

                       CONTRACT FOR QUICKBIRD SPACECRAFT

This Amendment incorporates the following changes to the Contract:

Exhibit C - Statement of Work, EarthWatch QuickBird Satellite, Doc. No
SE.1M.PRJ.002
        .   Contract Deliverables - Deliverable Items

Exhibit D - Specification, Spacecraft Bus and Instrument, EarthWatch QuickBird
Spacecraft, Doc. SE.1M.PRJ.003
        .   Software

Exhibit E - Price and Payment Schedule
        .   Full Project Deliverables and Services Price
        .   Payment Schedule

Entire Agreement. This Amendment, hereto constitutes the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

By: /s/ Herbert F. Satterlee III                4/29/99
   ----------------------------------        --------------------------
   Herbert F. Satterlee III                  Date
   Chief Executive Officer & President

BALL AEROSPACE SYSTEMS DIVISION

By: /s/ Raul A. Rossell                         5/4/99
   ----------------------------              --------------------------
   Raul A. Rossell                           Date
   Manager of Contracts
<PAGE>

                                                            Dated April 16, 1999

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------------
          Pay                                                                   Milestone      Total         Cum.
         Date                                Description                           Value       Payment      Payment
--------------------------------------------------------------------------------------------------------------------
<S>     <C>            <C>                                                     <C>          <C>          <C>
0       6/9/98   a     Full set of optics received                             $  400,000   $1,200,000   $ 1,200,000
--------------------------------------------------------------------------------------------------------------------
                 b     RWAs received                                           $  400,000
--------------------------------------------------------------------------------------------------------------------
                 c     Primary & secondary optics bonded to optical mount      $  400,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
1      6/30/98   a     Spacecraft Test Requirement Document initial release    $  400,000   $1,250,000   $ 2,450,000
--------------------------------------------------------------------------------------------------------------------
                 b     Optical bench prepe complete                            $  400,000
--------------------------------------------------------------------------------------------------------------------
                 c     Full set of optical mounts complete                     $  400,000
--------------------------------------------------------------------------------------------------------------------
                 d     GPS Receiver order placed                               $   50,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
2      7/31/98   a     Bus Structure complete (inserts & painting)             $  450,000   $1,250,000   $ 3,700,000
--------------------------------------------------------------------------------------------------------------------
                 b     Solid State Recorders complete                          $  400,000
--------------------------------------------------------------------------------------------------------------------
                 c     RF box Engineering Models received                      $  400,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
3      8/31/98   a     Primary/Secondary telescope roll test complete          $  450,000   $1,250,000   $ 4,950,000
--------------------------------------------------------------------------------------------------------------------
                 b     Power boxes complete (Battery, PDA, PCU)                $  400,000
--------------------------------------------------------------------------------------------------------------------
                 c     Command & Telemetry Unit received                       $  400,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
4      9/30/98   a     Telescope Assy Complete (mirror pins staked)            $  450,000   $1,250,000   $ 6,200,000
--------------------------------------------------------------------------------------------------------------------
                 b     Propulsion module complete                              $  400,000
--------------------------------------------------------------------------------------------------------------------
                 c     Gimbal received                                         $  400,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
5     10/31/98   a     Telescope Vibration test complete                       $  720,000   $2,476,000   $ 6,676,000
--------------------------------------------------------------------------------------------------------------------
                 b     Wideband data interface EM test complete (SSS           $  420,000
                       simulator, SSR & WBT)
--------------------------------------------------------------------------------------------------------------------
                 c     Phase 1 & 2 harness complete                            $  420,000
--------------------------------------------------------------------------------------------------------------------
                 d     Structure preps complete (heater, thermistors)          $  420,000
--------------------------------------------------------------------------------------------------------------------
                 e     Spacecraft Computer received                            $  420,000
--------------------------------------------------------------------------------------------------------------------
                 f     Narrow Band Modulation Indexing                         $   76,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
6      12/1/98   a     Telescope Thermal cycle test complete                   $  225,000   $1,300,000   $ 9,976,000
--------------------------------------------------------------------------------------------------------------------
                 b     Instrument radiator thermal test complete               $  215,000
--------------------------------------------------------------------------------------------------------------------
                 c     Phase 3, 4, & 5 harness complete                        $  215,000
--------------------------------------------------------------------------------------------------------------------
                 e     STOC certified                                          $  215,000
--------------------------------------------------------------------------------------------------------------------
                 f     Initial Spacecraft Power on                             $  215,000
--------------------------------------------------------------------------------------------------------------------
                 g     Flight software loaded into software test bench         $  215,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
7      1/19/99   a     Execution of Amendment 11                               $  200,000   $  200,000   $10,176,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
8      1/25/99   a     Execution of Amendment 12                               $  120,000   $  120,000   $10,296,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
9       2/1/99   a     Execution of Amendment 15                               $   80,000   $   60,000   $10,376,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
10      4/8/99   a     Focal Plane Installed, aligned and staked               $1,000,000   $3,830,000   $14,306,000
--------------------------------------------------------------------------------------------------------------------
                 b     Star tracker electrical integration complete (on bus)   $1,000,000
--------------------------------------------------------------------------------------------------------------------
                 c     SAD/HDRS integration complete                           $1,000,000
--------------------------------------------------------------------------------------------------------------------
                 d     Narrowband RF box set (XNBT & SBR) received             $  930,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
11     4/30/99   a     Instrument SNR Measurement complete                     $1,000,000   $3,830,000   $18,236,000
--------------------------------------------------------------------------------------------------------------------
                 b     Instrument ready to integrate into bus                  $1,000,000
--------------------------------------------------------------------------------------------------------------------
                 c     Wideband RF box set (WBT) received                      $1,000,000
--------------------------------------------------------------------------------------------------------------------
                 d     Deployable cover & sunshade complete                    $  930,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
12     5/31/99   a     Bus ready for instrument integraton                     $2,000,000   $3,830,000   $22,158,000
--------------------------------------------------------------------------------------------------------------------
                 b     Instrument installation complete                        $1,930,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
13     6/30/99   a     Instrument integration complete                         $2,000,000   $3,830,000   $28,098,000
--------------------------------------------------------------------------------------------------------------------
                 b     System baseline performance test completed              $1,930,000
                       sucessfully
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
14     7/31/99   a     Complete thermal blanket installation                   $  500,000   $1,250,000   $27,346,000
--------------------------------------------------------------------------------------------------------------------
                 b     Start Thermal Vac test                                  $  500,000
--------------------------------------------------------------------------------------------------------------------
                 c     Gimbel Control & Software mode successfully             $  250,000
                       tested on bus
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
15     8/31/99   a     Sucessfully complete Thermal Vacuum Test                $  500,000   $1,000,000   $28,346,000
--------------------------------------------------------------------------------------------------------------------
                 b     Complete Solar array installation                       $  500,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
16     9/30/99   a     Sucessfully complete End to End Compatability test      $  500,000   $1,000,000   $29,346,000
--------------------------------------------------------------------------------------------------------------------
                 b     Sucessfully complete Vibration test                     $  500,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
17    10/31/99   a     Sucessfully complete acoustic test                      $  500,000   $1,000,000   $30,346,000
--------------------------------------------------------------------------------------------------------------------
                 b     Sucessfully complete post environmental                 $  500,000
                       deployment tests
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
18    11/30/99   a     Spacecraft Ready to ship                                $3,000,000   $3,000,000   $33,346,000
--------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------
19    12/31/99   a     Spacecraft ready for launch                             $  350,000   $  350,000   $33,696,000
--------------------------------------------------------------------------------------------------------------------
20     1/30/99   a     Completion  of in-Orbit test                            $  349,000   $  349,000   $34,045,000
--------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                                 AMENDMENT 33

                                      to

                           CONTRACT SE.lM.PRJ.0004.A

                                    between

                           EARTHWATCH, INCORPORATED
                                      AND
                     BALL AEROSPACE AND TECHNOLOGIES CORP.
                                      FOR
                       THE QUICKBIRD SPACECRAFT CONTRACT

This Amendment incorporates the following changes to the Contract:

Exhibit B - Option to Purchase One (1) One Meter Spacecraft Segment
        .   Price & Schedule
        .   Payment Schedule

Exhibit E - Price and Payment Schedule
        .   Payment Schedule

Entire Agreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS W11EREOF, the parties hereto have caused this Amendment to be
executed by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

By: /s/ Shawn Thompson                                5/27/99
   ------------------------------                 -------------------------
   Shawn Thompson                                 Date
   Director of Contracts

BALL AEROSPACE SYSTEM DIVISION

By: /s/ Raul A. Rossell                              5/27/99
   ------------------------------                ---------------------------
   Raul A. Rossell                               Date
   Manager of Contracts
<PAGE>

                                                                    AMENDMENT 33
                                                       CONTRACT SE.1M.PRI.0004.A

Exhibit B - Option to Purchase One (1) One Meter Spacecraft Segment

Price & Schedule
----------------

This is to confirm that EarthWatch exercised option to purchase one (1) One
Meter Spacecraft Segment from BATC by having provided BATC with an original
signed copy of Exhibit B, dated April 14, 1999 to BATC.

Payment Schedule
----------------

Substitute the SE.1M.PRJ.0004.A payment milestone schedule included in Exhibit B
with the attached SE.1M.PRJ.0004A dated May 26, 1999 payment milestone
schedule.

Exhibit E - Price and Payment Schedule
--------------------------------------

Payment Schedule
----------------
Substitute the SE.1M.PRJ.0004.A dated February 16, 1999 payment milestone
schedule with the attached SE.1M.PRJ.0004A dated May 26, 1999 payment
milestone schedule.

<PAGE>

               EarthWatch QuickBird 1 Milestone Payment Schedule
                                                                   Amendment 33
                                                                 SE.1M.PRJ.004A
                                                              Dated May 26, 1999

<TABLE>
<CAPTION>
     Pay                                                                            Milestone         Total            Cumm
     Date       Description                                                           Value          Payment          Payment
--------------------------------------------------------------------------------------------------------------------------------
<S> <C>     <C>                                                                     <C>            <C>              <C>
0   6/9/98  a   Full set of optics received                                         $  400,000     $ 1,200,000       $ 1,200,000
--------------------------------------------------------------------------------------------------------------------------------
            b   RWAs received                                                       $  400,000
--------------------------------------------------------------------------------------------------------------------------------
            c   Primary & secondary optics bonded to optical mount                  $  400,000
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------

1   6/30/98 a   Spacecraft Test Requirement Document initial relea                  $  400,000     $ 1,250,000       $ 2,450,000
--------------------------------------------------------------------------------------------------------------------------------
            b   Optical bench preps complete                                        $  400,000
--------------------------------------------------------------------------------------------------------------------------------
            c   Full set of optical mounts complete                                 $  400,000
--------------------------------------------------------------------------------------------------------------------------------
            d   GPS Receiver order placed                                           $   50,000
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------

2   7/31/98 a   Bus Structure complete (inserts & painting)                         $  450,000     $ 1,250,000       $ 3,700,000
--------------------------------------------------------------------------------------------------------------------------------
            b   Solid State Recorders complete                                      $  400,000
--------------------------------------------------------------------------------------------------------------------------------
            c   RF box Engineering Models received                                  $  400,000
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------

3   8/31/98 a   Primary/Secondary telescope roll test complete                      $  450,000     $ 1,250,000       $ 4,950,000
--------------------------------------------------------------------------------------------------------------------------------
            b   Power boxes complete (Battery, PDA, PCU)                            $  400,000
--------------------------------------------------------------------------------------------------------------------------------
            c   Command & Telemetry Unit received                                   $  400,000
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------

4   9/30/98 a   Telescope Assy Complete (mirror pins staked)                        $  450,000     $ 1,250,000       $ 6,200,000
--------------------------------------------------------------------------------------------------------------------------------
            b   Propulsion module complete                                          $  400,000
--------------------------------------------------------------------------------------------------------------------------------
            c   Gimbal received                                                     $  400,000
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------

5  10/31/98 a   Telescope Vibration test complete                                   $  720,000     $  2,476,000      $ 8,676,000
--------------------------------------------------------------------------------------------------------------------------------
            b   Wideband data interface EM test complete (SSS
                  simulator, SSR, & WBT)                                            $  420,000
--------------------------------------------------------------------------------------------------------------------------------
            c   Phase 1 & 2 harness complete                                        $  420,000
--------------------------------------------------------------------------------------------------------------------------------
            d   Structure preps complete (heaters, thermistors)                     $  420,000
--------------------------------------------------------------------------------------------------------------------------------
            e   Spacecraft Computer received                                        $  420,000
--------------------------------------------------------------------------------------------------------------------------------
            f   Narrow Band Modulation Indexing                                     $   76,000
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------

6  12/1/98 a    Telescope Thermal cycle test complete                               $  225,000     $  1,300,000      $ 9,976,000
--------------------------------------------------------------------------------------------------------------------------------
            b   Instrument radiator thermal test complete                           $  215,000
--------------------------------------------------------------------------------------------------------------------------------
            c   Phase 3, 4, & 5 harness complete                                    $  215,000
--------------------------------------------------------------------------------------------------------------------------------
            e   STOC certified                                                      $  215,000
--------------------------------------------------------------------------------------------------------------------------------
            f   Initial Spacecraft Power on                                         $  215,000
--------------------------------------------------------------------------------------------------------------------------------
            g   Flight software loaded into software test bench                     $  215,000
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------

7   1/19/99 a   Execution of Amendment 11                                           $  200,000     $    200,000      $10,176,000
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------

8   1/25/99 a   Execution of Amendment 12                                           $  120,000     $    120,000      $10,296,000
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------

9   2/1/99  a   Execution of Amendment 15                                           $   80,000     $     80,000      $10,376,000
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------

10  4/8/99  a   Star tracker electrical integration comp                            $2,000,000     $  3,930,000      $14,306,000
--------------------------------------------------------------------------------------------------------------------------------
            b   SAD/SADE integration complete                                       $1,930,000
--------------------------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------------------------

11 4/30/99  a   Wideband RF box set (WBT) received                                  $1,000,000     $  3,000,000      $17,306,000
--------------------------------------------------------------------------------------------------------------------------------
            b   Deployable cover & sunshade complete                                $1,000,000
--------------------------------------------------------------------------------------------------------------------------------
</TABLE>
                                                                         5/27/99
<PAGE>

     EarthWatch QuickBird 1 Milestone Payment Schedule          Amendment 33
                                                              SE.1M.PRJ.004A
                                                           Dated May 26,1999

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
<S>   <C>        <C><C>                                                 <C>           <C>          <C>
                 c  Gimbal & GDE integration complete                   $1,000,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
12    6/1/99     a  Bus ready for instrument integration                $1,000,000    $3,000,000   $20,306,000
--------------------------------------------------------------------------------------------------------------
                 b  Sensor Subsystem preinstallation testing complete   $1,000,000
--------------------------------------------------------------------------------------------------------------
                 c  Sunshade & trackers installed onto telescope        $1,000,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
13    6/30/99    a  IRUs delivered, installed & reintegrated            $1,000,000    $3,000,000   $23,306,000
--------------------------------------------------------------------------------------------------------------
                 b  Reed Solomon box bus modifications made             $1,000,000
--------------------------------------------------------------------------------------------------------------
                 c  Narrowband RF box set (XNBT & SBR) received         $1,000,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
14    7/31/99    a  Focal Plane installed, aligned, and staked          $  395,000    $1,040,000   $24,346,000
--------------------------------------------------------------------------------------------------------------
                 b  Instrument ready to integrate into bus              $  395,000
--------------------------------------------------------------------------------------------------------------
                 c  Gimbal Control & Software mods successfully tested  $  250,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
15    8/31/99    a  Instrument Installation complete                    $  500,000    $1,000,000   $25,346,000
--------------------------------------------------------------------------------------------------------------
                 b  Instrument Integration complete                     $  500,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
16    9/30/99    a  System baseline performance tests completed suce    $  500,000    $1,000,000   $26,346,000
--------------------------------------------------------------------------------------------------------------
                 b  Battery louver assembly complete and installed      $  500,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
17    11/2/99    a  Complete thermal blanket installation               $  500,000    $1,000,000   $27,346,000
--------------------------------------------------------------------------------------------------------------
                 b  Start Thermal Vac test                              $  500,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
18    11/30/99   a  Successfully complete Thermal Vacuum Test           $  500,000    $1,000,000   $28,346,000
--------------------------------------------------------------------------------------------------------------
                 b  Complete Solar array installation                   $  500,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
19    12/30/99   a  Successfully complete End to End Compatability test $  500,000    $1,000,000   $29,346,000
--------------------------------------------------------------------------------------------------------------
                 b  Successfully complete Vibration Test                $  500,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
20    1/31/00    a  Successfully complete acoustic test                 $  500,000    $1,000,000   $30,346,000
--------------------------------------------------------------------------------------------------------------
                 b  Successfully complete post environmental deployme   $  500,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
21    2/29/00    a  Spacecraft Ready to ship                            $3,000,000    $3,000,000   $33,346,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
22    3/31/00    a  Spacecraft ready for launch                         $  350,000    $  350,000   $33,696,000
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
23     5/1/00    a  Completion of In-Orbit test                         $  349,000    $  349,000   $34,045,000
--------------------------------------------------------------------------------------------------------------
</TABLE>

                                                            5/27/99
<PAGE>

               EarthWatch QuickBird 2 Milestone Payment Schedule
                                                                    Amendment 33
                                                                SE.lM.PRJ,0004.A
                                                              Dated May 26, 1999

<TABLE>
<CAPTION>
     Pay                                                                   Milestone         Total           Cumm
     Date        Description                                                 Value          Payment         Payment
----------------------------------------------------------------------------------------------------------------------
<S>   <C>         <C>                                                    <C>              <C>             <C>
1     4/14/99  a  Execution of contract option                           $2,900,000       $2,900,000      $ 2,900,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
2      5/1/99  a  All major Subcontracts placed                          $2,900,060       $2,900,000      $ 5,800,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
3      6/1/99  a  Program baseline schedules released                    $  850,000       $2,500,000      $ 8,300,000
----------------------------------------------------------------------------------------------------------------------
               b  Gimbal received                                        $  850,000
----------------------------------------------------------------------------------------------------------------------
               c  Full set of optical mounts complete                    $  800,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
4     6/30/99  a  Full set of optics received                            $  650,000       $2,000,000      $10,300,000
----------------------------------------------------------------------------------------------------------------------
               b  Panel bonding complete                                 $  650,000
----------------------------------------------------------------------------------------------------------------------
               c  80% of electrical board fab complete                   $  700,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
5     7/31/99  a  Full set of Optics Bonded Complete                     $  500,000       $1,000,000      $11,300,000
----------------------------------------------------------------------------------------------------------------------
               b  Bench Preps Complete                                   $  500,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
6     8/31/99  a  Full set of RF components recieved (NBT, SBR,          $  850,000       $2,500,000      $13,800,000
----------------------------------------------------------------------------------------------------------------------
               b  Zenith Deck Received & machining complete              $  850,000
----------------------------------------------------------------------------------------------------------------------
               c  Structure match machining complete                     $  800,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
7     9/30/99  a  Telescope Roll & Wavefront verification                $  850,000       $2,500,000      $16,300,000
----------------------------------------------------------------------------------------------------------------------
               b  CPU shipped to Goodrich                                $  850,000
----------------------------------------------------------------------------------------------------------------------
               c  Sunshade & Cover Complete                              $  800,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
8     11/2/99  a  Harness Complete                                       $  450,000       $1,300,000      $17,600,000
----------------------------------------------------------------------------------------------------------------------
               b  Structure complete                                     $  450,000
----------------------------------------------------------------------------------------------------------------------
               c  Telescope Vibration successfully complete              $  400,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
9    11/30/99  a  Structure Preps & Harness Installation Complete        $  625,000       $2,500,000      $20,100,000
----------------------------------------------------------------------------------------------------------------------
               b  Power Boxes (PCU, SEP, PDAs) complete                  $  625,000
----------------------------------------------------------------------------------------------------------------------
               c  Star trackers complete                                 $  625,000
----------------------------------------------------------------------------------------------------------------------
               d  Stim Lamp & electronics complete                       $  625,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------

10   12/30/99  a  Spacecraft Initial Power on                            $  650,000       $1,300,000      $21,400,000
----------------------------------------------------------------------------------------------------------------------
               b  GPS receivers received                                 $  650,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
11    1/31/00  a  SCC and CTU received                                   $  650,000       $1,300,000      $22,700,000
----------------------------------------------------------------------------------------------------------------------
               b  Telescope Complete                                     $  650,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
12    2/29/00  a  RWAs and IRUs received                                 $  560,000       $1,120,000      $23,820,000
----------------------------------------------------------------------------------------------------------------------
               b  Propulsion Module Complete                             $  560,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
13    3/31/00  a  Battery Complete                                       $  700,000       $  700,000      $24,520,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
14     5/1/00  a  Instrument Complete                                    $  700,000       $  700,000      $25,220,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
15     6/1/00  a  Bus Ready for Instrument Installation                  $  700,000       $  700,000      $25,920,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
16     7/1/00  a  Instrument Integration Complete                        $  700,000       $  700,000      $26,620,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
17     8/1/00  a  Spacecraft Initial Tests                               $  700,000       $  700,000      $27,320,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
18     9/1/00  a  Complete Thermal Vac                                   $  700,000       $  700,000      $28,020,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
19    10/1/00  a  Solar Array Installation Complete                      $  700,000       $  700,000      $28,720,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
20    11/1/00  a  Complete Vibration Testing                             $  330,000       $  330,000      $29,050,000
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
21    12/1/00  a  Spacecraft Ready to Ship                               $2,000,000       $2,000,000      $31,050,000
----------------------------------------------------------------------------------------------------------------------
</TABLE>

                                                                        5/27/99
<PAGE>

                                 AMENDMENT 34
                                      to
                           CONTRACT SE.1M.PRJ.0004.A
                                    between
                           EARTHWATCH, INCORPORATED
                                      AND
                     BALL AEROSPACE AND TECHNOLOGIES CORP.
                                      FOR
                       THE QUICKBIRD SPACECRAFT CONTRACT

This Amendment incorporates the following changes to the Contract Specifications
and Payment Schedule:

Exhibit D - Specifications, Spacecraft Bus & Instrument
 .    2.1.2 Non-Government Documents
 .    3.1.3.7 Fault
 .    3.3.3.1.9 Sun Avoidance
 .    3.5.2.6 Emergency Mode
 .    3.5.2.9 Solar Panel Gimbal Control
 .    3.6.4.2.3 Specific Maneuvers
 .    3.7.2 General Requirements
 .    3.7.2.1 Configuration
 .    3.7.5 Solar Array Performance
 .    3.8.1 Performance Requirements
 .    3.8.2 Subsystem Design Requirements

Exhibit E - Price and Payment Schedule
 .    Payment Schedule

Entire Agreement.  This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED
------------------------

By: /s/ Shawn Thompson                  10/12/97
-------------------------------        ---------------------------
    Shawn Thompson                     Date
    Director of Contracts

BALL AEROSPACE SYSTEMS DIVISION
-------------------------------

By: /s/ Raul A. Rossell                  10/18/99
   ----------------------------        ---------------------------
   Raul A. Rossell                     Date
   Manager of Contracts
<PAGE>
                                                                    Amendment 34
                                                                  SE.1M.PRJ.004A
                                                             Dated July 20, 1999

               EarthWatch QuickBird 1 Milestone Payment Schedule

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
        Pay                                                                                 Milestone      Total           Cumm
        Date                   Description                                                    Value        Payment        Payment
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
<C>    <C>         <C>    <S>                                                              <C>           <C>           <C>
0       6/9/98      a     Full set of optics received                                      $  400,000    $1,200,000    $ 1,200,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     RWAs received                                                    $  400,000
----------------------------------------------------------------------------------------------------------------------------------
                    c     Primary & secondary optics bonded to optical mount               $  400,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
1       6/30/98     a     Spacecraft Test Requirement Document initial release             $  400,000    $1,250,000    $ 2,450,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     Optical bench preps complete                                     $  400,000
----------------------------------------------------------------------------------------------------------------------------------
                    c     Full set of optical mounts complete                              $  400,000
----------------------------------------------------------------------------------------------------------------------------------
                    d     GPS Receiver order placed                                        $   50,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
2       7/31/98     a     Bus Structure complete (inserts & painting)                      $  450,000    $1,250,000    $ 3,700,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     Solid State Recorders complete                                   $  400,000
----------------------------------------------------------------------------------------------------------------------------------
                    c     RF box Engineering Models received                               $  400,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
3       8/31/98     a     Primary/Secondary telescope roll test complete                   $  450,000    $1,250,000    $ 4,950,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     Power boxes complete (Battery, PDA, PCU)                         $  400,000
----------------------------------------------------------------------------------------------------------------------------------
                    c     Command & Telemetry Unit received                                $  400,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
4       9/30/98     a     Telescope Assy Complete (mirror pins staked)                     $  450,000    $1,250,000    $ 6,200,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     Propulsion module complete                                       $  400,000
----------------------------------------------------------------------------------------------------------------------------------
                    c     Gimbal received                                                  $  400,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
5      10/31/98     a     Telescope Vibration test complete                                $  720,000    $2,476,000    $ 8,676,000
----------------------------------------------------------------------------------------------------------------------------------
                          Wideband data interface EM test complete (SSS
                    b     simulator, SSR, & WBT)                                           $  420,000
----------------------------------------------------------------------------------------------------------------------------------
                    c     Phase 1 & 2 harness complete                                     $  420,000
----------------------------------------------------------------------------------------------------------------------------------
                    d     Structure preps complete (heaters, thermistors)                  $  420,000
----------------------------------------------------------------------------------------------------------------------------------
                    e     Spacecraft Computer received                                     $  420,000
----------------------------------------------------------------------------------------------------------------------------------
                    f     Narrow Band Modulation indexing                                  $   76,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
6       12/1/98     a     Telescope Thermal cycle test complete                            $  225,000    $1,300,000    $ 9,976,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     Instrument radiator thermal test complete                        $  215,000
----------------------------------------------------------------------------------------------------------------------------------
                    c     Phase 3, 4, & 5 harness complete                                 $  215,000
----------------------------------------------------------------------------------------------------------------------------------
                    e     STOC certified                                                   $  215,000
----------------------------------------------------------------------------------------------------------------------------------
                    f     Initial Spacecraft Power on                                      $  215,000
----------------------------------------------------------------------------------------------------------------------------------
                    g     Flight software loaded into software test bench                  $  215,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
7       1/19/99     a     Execution of Amendment 11                                        $  200,000    $  200,000    $10,176,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
8       1/25/99     a     Execution of Amendment 12                                        $  120,000    $  120,000    $10,296,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
9       2/1/99      a     Execution of Amendment 15                                        $   80,000    $   80,000    $10,376,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
10      4/8/99      a     Star tracker electrical integration complete (on bus)            $2,000,000    $3,930,000    $14,306,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     SAD/SADE integration complete                                    $1,930,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
11     4/30/99      a     Wideband RF box set (WBT) received                               $1,000,000    $3,000,000    $17,306,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     Deployable cover & sunshade complete                             $1,000,000
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

                                                                    Amendment 34
                                                                  SE.1M.PRJ.004A
                                                             Dated July 20, 1999

               EarthWatch QuickBird 1 Milestone Payment Schedule

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
<C>       <C>      <C>    <S>                                                              <C>           <C>           <C>
                    c     Gimbal & GDE integration complete                                $1,000,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
12         6/1/99   a     Bus ready for instrument integration                             $1,000,000    $3,000,000    $20,306,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     Sensor Subsystem preinstallation testing complete                $1,000,000
----------------------------------------------------------------------------------------------------------------------------------
                    c     Sunshade & trackers installed onto telescope                     $1,000,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
13         6/30/99  a     IRUs delivered, installed & reintegrated                         $1,000,000    $3,000,000    $23,306,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     Reed Solomon box bus modifications made                          $1,000,000
----------------------------------------------------------------------------------------------------------------------------------
                    c     Narrowband RF box set (XNBT & SBR) received                      $1,000,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
14         7/31/99  a     Focal Plane installed, aligned, and staked                       $  395,000    $1,040,000    $24,346,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     Instrument ready to integrate into bus                           $  395,000
----------------------------------------------------------------------------------------------------------------------------------
                    c     Gimbal Control & Software mods successfully tested               $  250,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
15         8/31/99  a     Instrument installation complete                                 $  500,000    $1,000,000    $25,346,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     Instrument integration complete                                  $  500,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
16         9/30/99  a     System baseline performances tests completed since               $  500,000    $1,000,000    $26,346,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     Battery louver assembly completed and installed                  $  500,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
17         11/2/99  a     Complete thermal blanket installation                            $  500,000    $1,280,000    $27,626,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     Start Thermal Vac test                                           $  500,000
----------------------------------------------------------------------------------------------------------------------------------
                    c     SEP emergency mode controller rework complete                    $  280,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
18        11/30/99  a     Successfully complete Thermal Vacuum Test                        $  500,000    $1,000,000    $28,626,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     Complete Solar array installation                                $  500,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
19        12/30/99  a     Successfully complete End to End Compatability test              $  500,000    $1,000,000    $29,626,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     Successfully complete Vibration Test                             $  500,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
20         1/31/00  a     Successfully complete acoustic test                              $  500,000    $1,000,000    $30,626,000
----------------------------------------------------------------------------------------------------------------------------------
                    b     Successfully complete post environmental deployment              $  500,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
21         2/29/00  a     Spacecraft Ready to ship                                         $3,000,000    $3,000,000    $33,626,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
22         3/31/00  a     Spacecraft ready for launch                                      $  350,000    $  350,000    $33,976,000
----------------------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------------------
23         5/1/00   a     Completion of in-Orbit test                                      $  349,000    $  349,000    $34,325,000
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<PAGE>

                                  AMENDMENT 35

                                       to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

                            EARTHWATCH, INCORPORATED
                                      AND
                     BALL AEROSPACE AND TECHNOLOGIES CORP.
                                      FOR
                       THE QUICKBIRD SPACECRAFT CONTRACT

This Amendment incorporates the following changes to the Statement of Work and
Payment Schedule of the Contract:

Exhibit C - Statement of Work

Exhibit E - Price and Payment Schedule

          . Payment Schedule

Entire Agreement.  This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

By: /s/ Shawn Thompson                  12/16/99
-------------------------------       ----------------------------
    Shawn Thompson                     Date
    Director of Contracts

BALL AEROSPACE SYSTEMS DIVISION

By: /s/ Raul A. Rossell                  12/22/99
   ----------------------------        ---------------------------
   Raul A. Rossell                     Date
   Manager of Contracts

<PAGE>

                                                                    AMENDMENT 35
                                                       CONTRACT SE.1M.PRJ.0004.A

Exhibit C - Statement of Work
-----------------------------

WAS
---

3.1  DELIVERABLE ITEMS

     a.  Spacecraft Number 1:                    November 3, 1999

     b.  Spacecraft Number 2:                    August 1, 2000 (Assumes
                                                 December 15, 1998 option
                                                 exercise)

     c.  Spacecraft Test Operations Console      with 2/nd/ spacecraft

IS
--

3.1  DELIVERABLE ITEMS

     a.  Spacecraft Number 1:                    May 19, 2000

     b.  Spacecraft Number 2:                    December 22, 2000

     c.  Spacecraft Test Operations Console      with 2/nd/ spacecraft

Exhibit E - Price and Payment Schedule
--------------------------------------

Payment Schedule
----------------
Substitute the SE.1M.PRJ.0004.A dated July 20, 1999 payment milestone schedule
with the attached SE.1M.PRJ.0004A dated December 13, 1999 payment milestone
schedule.

<PAGE>

                                                                       Amend. 35
                                                                SE.1M.PRJ.0004.A
                                                         Dated December 13, 1999

PM-08               QuickBird 1 Payment Milestone Schedule
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------
                                                                            Forecasted      Total         Cum
 Item      Pay      Item                                                      Milestone     Payment      Payment
   #       Date     Line                    Description                         Value       Forecast     Forecast
-----------------------------------------------------------------------------------------------------------------
<S>        <C>      <C>    <C>                                               <C>          <C>          <C>
0           6/9/98  a      Full set of optics received                       $  400,000   $1,200,000   $ 1,200,000
                    b      RWAs received                                     $  400,000
                    c      Primary & secondary optics bonded to optical      $  400,000
                           mounts

1           6/30/98 a      Spacecraft Test Requirement Document initial      $  400,000   $1,250,000   $ 2,450,000
                           release
                    b      Optical bench preps complete                      $  400,000
                    c      Full set of optical mounts complete               $  400,000
                    d      GPS Receiver order placed                         $   50,000

2           7/31/98 a      Bus Structure complete (inserts & painting)       $  450,000   $1,250,000   $ 3,700,000
                    b      Solid State Recorders complete                    $  400,000
                    c      RF box Engineering Models received                $  400,000

3           8/31/98 a      Primary/Secondary telescope roll test complete    $  450,000   $1,250,000   $ 4,950,000
                    b      Power boxes complete (Battery, PDA, PCU)          $  400,000
                    c      Command & Telemetry Unit received                 $  400,000

4           9/30/98 a      Telescope Assy Complete (mirror pins staked)      $  450,000   $1,250,000   $ 6,200,000
                    b      Propulsion module complete                        $  400,000
                    c      Gimbal received                                   $  400,000

5          10/31/98 a      Telescope Vibration test complete                 $  720,000   $2,476,000   $ 8,676,000
                    b      Wideband data interface EM test complete (SSS     $  420,000
                           simulator, SSR, & WBT)
                    c      Phase 1 & 2 harness complete                      $  420,000
                    d      Structure preps complete (heaters, thermistors)   $  420,000
                    e      Spacecraft Computer received                      $  420,000
                    f      Narrow Bond Modulation Indexing                   $   76,000

6           12/1/98 a      Telescope Thermal cycle test complete             $  225,000   $1,300,000   $ 9,975,000
                    b      Instrument radiator thermal test complete         $  215,000
                    c      Phase 3, 4, & 5 harness complete                  $  215,000
                    d      STOC certified                                    $  215,000
                    e      Initial Spacecraft Power on                       $  215,000
                    f      Flight software loaded into software test bench   $  215,000

7           1/19/99 a      Execution of Amendment 11                         $  200,000   $  200,000   $10,176,000

8           1/25/99 a      Execution of Amendment 12                         $  120,000   $  120,000   $10,296,000

9           2/1/99  a      Execution of Amendment 15                         $   80,000   $   80,000   $10,376,000

10          4/8/99  a      Star Tracker Electrical Integration Complete      $2,000,000   $3,830,000   $14,306,000
                             (on bus)
                    b      SAD/SADE Integration Complete                     $1,830,000

11          4/30/99 a      Wideband RF Box Set (WBT) received                $1,000,000   $3,000,000   $17,306,000
                    b      Deployable Cover & Sunshades Complete             $1,000,000
                    c      Gimbal & GDE Integration Complete                 $1,000,000

12          5/31/99 a      Bus Ready for Instrument Integration              $1,000,000   $3,000,000   $20,306,000
                    b      Sensor Subsystem Preinstallation Testing          $1,000,000
                             Complete
                    c      Sunshade & Trackers Installed onto Telescope      $1,000,000

13          6/30/99 a      IRUs delivered, installed & reintegrated          $1,000,000   $3,000,000   $23,306,000
                    b      Reed Solomon Box Bus Modifications Made           $1,000,000
                    c      Narrowband RF Box Set (XNBT & SBR) received       $1,000,000

14          7/31/99 a      Focal Plane Installed, Aligned and Staked         $  385,000   $1,040,000   $24,346,000
                    b      Instrument ready to Integrate into bus            $  385,000
                    c      Gimbal Control & Software Mods                    $  250,000
                             Successfully Tested on Bus

15          8/31/99 a      Instrument Installation complete                  $  500,000   $1,000,000   $25,346,000
                    b      Instrument Integration complete                   $  500,000

</TABLE>
                                                                        12/15/99

<PAGE>

                                                                       Amend. 35
                                                                SE.1M.PRJ.0004.A
                                                         Dated December 13, 1999

PM-08               QuickBird 1 Payment Milestone Schedule
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------
                                                                            Forecasted      Total         Cum
 Item      Pay     Item                                                      Milestone     Payment      Payment
   #       Date    Line                    Description                         Value       Forecast     Forecast
-----------------------------------------------------------------------------------------------------------------
<S>       <C>      <C>    <C>                                               <C>          <C>          <C>
16         9/30/99 a      System Baseline Performance Tests                 $  500,000   $1,000,000   $26,346,000
                            Completed Successfully
                   b      Battery Louver Assembly Complete and Installed    $  500,000

17        10/31/99 a      Complete thermal blanket installation             $  500,000   $1,280,000   $27,826,000
                   b      Start Thermal Vac Test                            $  500,000
                   c      SEP Emergency Mode Controller Rework              $  280,000
                            Complete

18        11/30/99 a      Successfully complete Thermal Vacuum Test         $  800,000   $1,000,000   $28,626,000
                   b      Complete Solar Array installation                 $  600,000

19        12/30/99 a      De-integrate instrument from Spacecraft Bus       $  220,000   $  660,000   $29,288,000
                   b      Repeat Radiometric Calibration after EKC fix      $  220,000
                   c      Re-integration on instrument into Spacecraft      $  220,000
                            Bus

20         1/31/00 a      Successfully complete End to End Compatability    $  500,000   $1,000,000   $30,286,000
                            test
                   b      Successfully complete Vibration Test              $  500,000

21         2/28/00 a      Successfully complete acoustic test               $  500,000   $1,000,000   $31,286,000
                   b      Successfully complete post environmental          $  500,000
                            deployment tests

22         3/31/00 a      Spacecraft Ready to ship                          $3,000,000   $3,000,000   $34,286,000

23         4/30/00 a      Spacecraft ready for launch                       $  350,000   $  350,000   $34,636,000

24         6/30/00 a      Completion of in-Orbit test                       $  349,000   $  349,000   $34,985,000
-----------------------------------------------------------------------------------------------------------------
</TABLE>
                                                                        12/15/99
<PAGE>

                                                                       Amend. 35
                                                                 SE.1M.PRJ.0004A
                                                         Dated December 13, 1999

PM-08               QuickBird 1 Payment Milestone Schedule
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------
                                                                            Forecasted      Total         Cum
 Item      Pay     Item                                                      Milestone     Payment      Payment
   #       Date    Line                    Description                         Value       Forecast     Forecast
-----------------------------------------------------------------------------------------------------------------
<S>      <C>       <C>    <C>                                               <C>          <C>          <C>
1         4/14/99  a      Execution of Contract Option                      $2,900,000   $2,900,000   $ 2,900,000

2          5/1/99  a      All Major Subcontracts Placed                     $2,900,000   $2,900,000   $ 5,800,000

3          6/1/99  a      Program Baseline Schedules Released               $  850,000   $2,500,000   $ 8,300,000
                   b      Gimbal Received                                   $  850,000
                   c      Full Set of Optical Mounts Complete               $  800,000

4         8/30/99  a      Full Set of Optics Received                       $  680,000   $2,000,000   $10,300,000
                   b      Panel Bonding Complete                            $  680,000
                   c      80% of Electrical Board Fab Complete              $  700,000

5         7/31/99  a      Full Set of Optics Bonded Complete                $  500,000   $1,000,000   $11,300,000
                   b      Bench Preps Complete                              $  500,000

6         8/31/99  a      Full Set of RF Components Received                $  850,000   $2,500,000   $13,800,000
                            (NBT, SBR, WBDT)
                   b      Zenith Deck Received & Machining Complete         $  850,000
                   c      Structure Match Machining Complete                $  800,000

7         9/30/99  a      Telescope Roll & Wavefront Verification           $  850,000   $2,500,000   $16,300,000
                   b      CPU Shipped to Goodrich                           $  850,000
                   c      Sunshade & Cover Complete                         $  800,000

8        10/31/99  a      Harness Complete                                  $  450,000   $1,300,000   $17,600,000
                   b      Structure Complete                                $  450,000
                   c      Telescope Vibration Successfully Complete         $  400,000

9        11/30/99  a      Structure Preps & Harness Installation            $  625,000   $2,500,000   $20,100,000
                            Complete
                   b      Power Boxes (PCU, SEP, PDAs) complete             $  625,000
                   c      Star Trackers Complete                            $  625,000
                   d      Slim Lamp & Electronics Complete                  $  625,000

10       12/31/99  a      Spacecraft Initial Power on                       $  650,000   $1,600,000   $21,700,000
                   b      GPS Receivers Received                            $  650,000
                   c      Large Tank Subcontracts Placed                    $  150,000
                   d      Large Tank Zenith Deck Modifications Complete     $  150,000

11        1/31/00  a      SCC and CTU Received                              $  850,000   $1,311,500   $23,011,500
                   b      Telescope Complete                                $  850,000
                   c      CDU Lockout Timer and VTCW Hold Change            $   11,800

12        2/28/00  a      RWAs and IRUs received                            $  550,000   $  710,000   $23,721,500
                   b      Star Trackers Small Shades and Final Test         $  150,000
                            Complete

13        3/31/00  a      Battery Complete                                  $  700,000   $  700,000   $24,421,500

14        4/30/00  a      Propulsion Module Complete                        $  560,000   $  560,000   $24,881,500

15        5/31/00  a      Bus Ready for Instrument Instllation              $  700,000   $  700,000   $25,681,500

16        6/30/00  a      Instrument Completetion Complete                  $  700,000   $  700,000   $26,361,500

17        7/31/00  a      Instrument Integration Complete                   $  700,000   $  700,000   $27,081,500

18        8/31/00  a      Spacecraft Initial Tests                          $  700,000   $  700,000   $27,781,500

19        9/30/00  a      Complete Thermal Vac                              $  700,000   $  700,000   $28,491,500
</TABLE>
                                                                        12/15/90
<PAGE>

                                                                       Amend. 35
                                                                SE.1M.PRJ.0004.A
                                                         Dated December 13, 1999

PM-08               QuickBird 2 Payment Milestone Schedule
<TABLE>
<CAPTION>
                                                                            Forecasted      Total         Cum
 Item      Pay     Line                                                      Milestone     Payment      Payment
   #       Date    Item                    Description                         Value       Forecast     Forecast
-----------------------------------------------------------------------------------------------------------------
<S>        <C>     <C>    <C>                                               <C>          <C>          <C>
20        10/31/00 a      Solar Array Installation Complete                 $  700,000   $  700,000   $28,181,500

21        11/30/00 a      Complete Vibration Testing                        $  330,000   $  330,000   $29,511,500

22        12/31/00 a      Spacecraft Ready to Ship                          $2,000,000   $2,000,000   $31,511,600
</TABLE>

<PAGE>

                                                                    AMENDMENT 36
                                                      CONTRACT SE. 1M.PRJ.0004.A

                                 AMENDMENT 36

                                      to

                           CONTRACT SE.1M.PRJ.0004.A

                                    between

                            EARTHWATCH, INCORPORATED
                                      AND
                     BALL AEROSPACE AND TECHNOLOGIES CORP.

                                      FOR

                       THE QUICKBIRD SPACECRAFT CONTRACT

This Amendment incorporates the following changes to the QuickBird 2
Specifications and QuickBird 2 Payment Schedule of the Contract:

Exhibit D - Specifications
Articles 3.1.2.1, 3.1.3.6, 3.2.1, 3.3.3, 3.6.1, 3.6.2.1.2, 3.6.2.1.4, 3.6.2.3,
3.6.4.1, 3.6.4.2.1, and 3.6.4.2.3

Exhibit E - Price and Payment Schedule
QuickBird 2 Payment Milestone Schedule

Entire Aggreement. This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings. By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives.

EARTHWATCH, INCORPORATED

By: /s/ Shawn Thompson                             Date:     3/3/00
    --------------------------------                    -----------------
    Shawn Thompson
    Director of Contracts

BALL AEROSPACE & TECHNOLOGIES CORPORATION

By: /s/ Raul A. Rossell                            Date:     3/3/00
    ---------------------------------                   -----------------
    Raul A. Rossell
    Manager of Contracts
<PAGE>

           EarthWatch QuickBird Milestone Payment Schedule              Amend 36
                                                                  SE.1M.PRJ.004A
PM-08      QuickBird 2 Payment Milestone Schedule        Dated: February 4, 2000

<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
                  Line                                                        Forecasted     Total Payment  Cum Payment
Item #  Pay Date  Item                    Description                       Milestone Value     Forecast      Forecast
-----------------------------------------------------------------------------------------------------------------------
<S>     <C>       <C>   <C>                                                 <C>              <C>            <C>
1       4/14/99    a    Execution of Contract Option                           $2,900,000      $2,900,000   $ 2,900,000

2        5/1/99    a    All Major Subcontracts Placed                          $2,900,000      $2,900,000   $ 5,800,000

3        6/1/99    a    Program Baseline Schedules Released                    $  850,000      $2,500,000   $ 8,300,000
                   b    Gimbal Received                                        $  850,000
                   c    Full Set of Optical Mounts Complete                    $  800,000

4       6/30/99    a    Full Set of Optics Received                            $  650,000      $2,000,000   $10,300,000
                   b    Panel Bonding Complete                                 $  650,000
                   c    80% of Electrical Board Fab Complete                   $  700,000

5       7/31/99    a    Full Set of Optics Bonded Complete                     $  500,000      $1,000,000   $11,300,000
                   b    Bench Preps Complete                                   $  500,000

6       8/31/99    a    Full Set of RF Components Received (NBT, SBR, WBDT)    $  850,000      $2,500,000   $13,800,000
                   b    Zenith Deck Received & Machining Complete              $  850,000
                   c    Structure Match Machining Complete                     $  800,000

7       9/30/99    a    Telescope Roll & Wavefront Verification                $  850,000      $2,500,000   $16,300,000
                   b    CPU Shipped to Goodrich                                $  850,000
                   c    Sunshade & Cover Complete                              $  800,000

8      10/31/99    a    Harness Complete                                       $  450,000      $1,300,000   $17,600,000
                   b    Structure Complete                                     $  450,000
                   c    Telescope Vibration Successfully Complete              $  400,000

9      11/30/99    a    Structure Preps & Harness Installation Complete        $  625,000      $2,500,000   $20,100,000
                   b    Power Boxes (PCU, SEP, PDAs) complete                  $  625,000
                   c    Star Trackers Complete                                 $  625,000
                   d    Stim Lamp & Electronics Complete                       $  625,000

10     12/31/99    a    Spacecraft Initial Power on                            $  650,000      $1,600,000   $21,700,000
                   b    GPS Receivers Received                                 $  650,000
                   c    Large Tank Subcontracts Placed                         $  150,000
                   d    Large tank Zenith Deck Modifications Complete          $  150,000

11      1/31/00    a    SCC and CTU Received                                   $  650,000      $1,301,500   $23,001,500
                   b    Telescope Complete                                     $  650,000
                   c    CDU Lockout Timer Change                               $    1,500

12      2/28/00    a    RWAs and IRUs received                                 $  560,000      $  710,000   $23,711,500
                   b    Star Trackers Small Shades and Final Test Complete     $  150,000

13      3/31/00    a    Battery Complete                                       $  700,000      $  700,000   $24,411,500

14      4/30/00    a    Bus Baseline Performance Tests Complete                $  560,000      $  810,000   $25,221,500
                   b    Large Propulsion Tank Received                         $  250,000

15      5/31/00    a    Bus Ready for Instrument Installation                  $  700,000      $1,100,000   $26,321,500
                   b    Large Propulsion Tank Welded                           $  400,000

16      6/30/00    a    Instrument Complete                                    $  700,000      $1,100,000   $27,421,500
                   b    Propulsion Module Complete                             $  400,000

17      7/31/00    a    Instrument Integration Complete                        $  700,000      $  700,000   $28,121,500

18      8/31/00    a    Spacecraft Initial Tests                               $  700,000      $  700,000   $28,821,500

19      9/30/00    a    Complete Thermal Vac                                   $  700,000      $  700,000   $29,521,500

20     10/31/00    a    Solar Array Installation Complete                      $  700,000      $  700,000   $30,221,500

21     11/30/00    a    Complete Vibration Testing                             $  330,000      $  330,000   $30,551,500

22     12/31/00    a    Spacecraft Ready to Ship                               $2,000,000      $2,000,000   $32,551,500
-----------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>

                                  AMENDMENT 37
                                       to
                           CONTRACT SE.1M.PRJ.0004.A
                                    between
                            EARTHWATCH, INCORPORATED
                                      and
                     BALL AEROSPACE AND TECHNOLOGIES CORP.
                                      for
                       THE QUICKBIRD SPACECRAFT CONTRACT

This Amendment incorporates the following changes to the Statement of Work and
Payment Schedule of the Contract:

Exhibit C - Statement of Work

Exhibit E - Price and Payment Schedule
            Payment Schedule

Entire Agreement.  This Amendment, hereto constitute the entire understanding of
the parties with respect to the subject matter of this Amendment and supersedes
all prior and contemporaneous agreements or understandings.  By signing this
Amendment, each party represents to the other that it has the authority to sign
this Amendment and this Amendment is enforceable against it in accordance with
its terms.

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective duly authorized representatives

EARTHWATCH, INCORPORATED

By:  /s/ Shawn Thompson          6/12/00
     Shawn Thompson              Date
     Director of Contracts

BALL AEROSPACE & TECHNOLOGIES CORP.

By:
     Raul A. Rossell             Date
     Manager of Contracts

<PAGE>

                                                      CONTRACT SE.1M.PRJ.00004.A
                                                                    AMENDMENT 37

Exhibit C - Statement of Work:  The exhibit is modified to change the delivery
schedule for Spacecraft Number 2.  No other changes to the exhibit are made.

<TABLE>
<CAPTION>

WAS
---
<S>                                <C>
3.1  DELIVERABLE ITEMS
     a.  Spacecraft Number 1:      May 19, 2000
     b.  Spacecraft Number 2:      December 22, 2000

IS
--

3.1  DELIVERABLE ITEMS
     a.  Spacecraft Number 1:      May 19, 2000
     b.  Spacecraft Number 2:      March 21, 2001
</TABLE>

Exhibit E - Price and Payment Schedule

Payment Schedule

Substitute the SE.1M.PRJ.00004.A dated December 13, 1999 payment milestone
schedule with the attached SE.1M.PRJ.00004A dated May 30,2000 payment milestone
schedule.

This Amendment covers BATC's cost impact through 6/1/2000, resulting from
EarthWatch/Eastman Kodak delivery delay of the Flight Module 2 Sensor Subsystem
to BATC.  All subsequent impact to BATC following 6/1/2000, if any shall be the
subject of a future proposal and Amendment to this contract.

<PAGE>

                                                       CONTRACT SE.1M.PRJ.0004.A
                                                                    AMENDMENT 37
                                                                    May 30, 2000

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------
     Pay                                                                           Total         Cum
    Date       Milestone                Description                   Value       Payment      Payment
--------------------------------------------------------------------------------------------------------
<S>            <C>        <C>                                      <C>          <C>          <C>
 4/1/99        1 thru 6   QuickBird 2 payments to date             $21,296,500  $21,296,500  $21,296,500
through          7 a,b
3/31/00          8 a,b
                9 a,c,d
               10 b,c,d
                 11a,c
                 12a,b
                  13
--------------------------------------------------------------------------------------------------------
5/30/00           7c      Sunshade & Cover Complete                $   200,000  $   517,520  $21,814,020
                  8c      Telescope Vibration Successfully         $   317,520
                          Complete
--------------------------------------------------------------------------------------------------------
6/30/00           10a     Spacecraft Initial Power-On              $   312,263  $   562,263  $22,376,283
                  14b     Large Propulsion Tank Received           $   250,000
--------------------------------------------------------------------------------------------------------
7/31/00           11b     Telescope Complete                       $   613,606  $   613,606  $22,989,889
--------------------------------------------------------------------------------------------------------
8/31/00           9b      Power Boxes (PCU, SEP, PDAs) Complete    $   664,513  $   664,513  $23,654,402
--------------------------------------------------------------------------------------------------------
9/30/00           15b     Large Propulsion Tank Welded             $   200,000  $   697,669  $24,352,071
                  14a     Bus Baseline Performance Tests Complete  $   497,669
--------------------------------------------------------------------------------------------------------
10/31/00          16b     Propulsion Module Complete               $   400,000  $   731,429  $25,083,500
                  15a     Bus Ready for Instrument Installation    $   331,429
--------------------------------------------------------------------------------------------------------
11/30/00          16a     Instrument Complete                      $   400,000  $   760,417  $25,843,917
                  17a     Instrument Integration Complete          $   360,417
--------------------------------------------------------------------------------------------------------
12/31/00          18a     Spacecraft Initial Tests                 $   700,000  $ 1,084,583  $26,928,500
                  19a     Complete Thermal Vac                     $   384,583
--------------------------------------------------------------------------------------------------------
1/31/01           20a     Solar Array Installation Complete        $ 1,500,000  $ 3,072,500  $30,001,000
                  21a     Complete Vibration Testing               $ 1,572,500
--------------------------------------------------------------------------------------------------------
2/28/01           22a     Spacecraft Ready to Ship                 $ 3,036,250  $ 3,036,250  $33,037,250
--------------------------------------------------------------------------------------------------------
</TABLE>

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