Document:

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                                                                     Exhibit 4.1

                                 EARTHWEB INC.
                         REGISTRATION RIGHTS AGREEMENT

     This Agreement is made as of February 8, 2000 (this "Agreement"), by and
among EarthWeb Inc., a Delaware corporation (the "Company"), and Kevin R. Brice
and Robert M.M. Holtackers (each, a "Holder" and, collectively, the "Holders").

                                   PREAMBLE

     The Company desires to grant registration rights to the Holders.

     NOW, THEREFORE, in consideration of the premises and mutual agreements set
forth herein, the Company and the Holders agree as follows:

Section 1.  Definitions.  As used in this Agreement, the following terms shall
            -----------
have the following meanings:

     (a) "Anniversary Date" shall mean either the Three-Month Anniversary Date,
the Six-Month Anniversary Date, the One-Year Anniversary Date, the Two-Year
Anniversary Date or the Three-Year Anniversary Date (each as defined in the
Securities Purchase Agreement (the "Purchase Agreement") dated January 13, 2000
by and among the Company, Measure Up, Inc. and the Holders).

     (b) "Commission" shall mean the Securities and Exchange Commission, or any
other Federal agency at the time administering the Securities Act.

     (c) "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended, or any similar Federal statute and the rules and regulations
thereunder, all as the same shall be in effect at the time.

     (d) "Holders" shall have the meaning set forth in the preamble.

     (e) "Register," "registered" and "registration" shall refer to a
registration effected by preparing and filing a registration statement in
compliance with the Securities Act, and the declaration or ordering of the
effectiveness of such registration statement, and compliance with applicable
state securities laws.

     (f) "Registrable Securities" shall mean all of the following to the extent
the same have not been sold to the public: (i) any and all shares of
unregistered Buyer Common Stock issued by the Company at any time during the
term of this Agreement to the Holders pursuant to Section 1.5(c), (d), (e), (f)
or (g) of the Purchase Agreement; or (ii) stock issued in respect of the
securities referred to in (i) as a result of a stock split, stock dividend,
reclassification, exchange, recapitalization or combination. Notwithstanding the
foregoing, Registrable Securities shall not include otherwise Registrable
Securities (A) that have been sold by a Holder in a transaction in
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which his rights under this Agreement are not assigned in accordance with the
terms of this Agreement; or (B) (I) sold to or through a broker or dealer or
underwriter in a public distribution or a public securities transaction, (II)
sold in a transaction exempt from the registration and prospectus delivery
requirements of the Securities Act under Section 4(1) thereof so that all
transfer restrictions, and restrictive legends with respect thereto, if any, are
removed upon the consummation of such sale or (III) the registration rights
associated with such securities have been terminated pursuant to Section 10 of
this Agreement.

     (g) "Rule 144" shall mean Rule 144 under the Securities Act or any
successor or similar rule as may be enacted by the Commission from time to time,
but shall not include Rule 144A.

     (h) "Rule 144A" shall mean Rule 144A under the Securities Act or any
successor or similar rule as may be enacted by the Commission from time to time,
but shall not include Rule 144.

     (i) "Securities Act" shall mean the Securities Act of 1933, as amended, or
any similar Federal statute and the rules and regulations thereunder, all as the
same shall be in effect at the time.

     (j) "Shelf Registration" means a registration effected pursuant to Section
2 hereof.

     (k) "Shelf Registration Statement" means a shelf registration statement of
this Company pursuant to the provisions of Section 2 hereof filed by the Company
with the Commission which covers some or all of the Registrable Securities, as
applicable, and, at the option of the Company, such shares of capital stock (or
other securities of the Company) as the Company shall designate therein (the
"Company Shelf Securities") on an appropriate form under Rule 415 under the
Securities Act, or any similar rule that may be adopted by the Commission,
amendment and supplements to such registration statement, including post-
effective amendments, in each case including the prospectus contained therein,
all exhibits thereto and all material incorporated by reference therein.

     As used herein, all capitalized terms not otherwise defined herein shall
have the meanings set forth in the Purchase Agreement.

Section 2.  Shelf Registration.
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     (a) If, pursuant to Section 1.5 of the Purchase Agreement, the Company
elects to issue to the Holders shares of unregistered Buyer Common Stock on
either the Three-Month Anniversary Date, the Six-Month Anniversary Date, the
One-Year Anniversary Date, the Two-Year Anniversary Date or the Three-Year
Anniversary Date, then the Company shall file within 5 business days of the
applicable Anniversary Date a Shelf Registration Statement relating to (i) the
offer and sale of that number of shares of unregistered Buyer Common Stock
issued by the Company to the Holders on such Anniversary Date pursuant to
Section 1.5(c), (d), (e), (f) or (g) of the Purchase Agreement and (ii) such
number of shares of capital stock of the Company (or other securities of the
Company) as the Company shall designate in such Shelf Registration Statement.
Thereafter, the Company shall use commercially reasonable efforts to cause such

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Shelf Registration Statement to be declared effective under the Act as promptly
as practicable; provided, however, that no Holder shall be entitled to have the
Registrable Securities held by him covered by such Shelf Registration unless
such Holder is in compliance with the terms of this Agreement.

     (b) The Company shall use commercially reasonable efforts (i) to keep the
Shelf Registration Statement continuously effective in order to permit the
prospectus forming part thereof to be useable by the Holders until two (2) years
from its effective date or such shorter period that will terminate when all the
Registrable Securities covered by the Shelf Registration Statement have been
sold pursuant to the Shelf Registration Statement, and (ii) after the
effectiveness of the Shelf Registration Statement and promptly upon the request
of any Holder, to take any action reasonably necessary to register the sale of
any Registrable Securities of such Holder and to identify such Holder as a
selling securityholder under such Shelf Registration Statement.

     (c) In connection with any Shelf Registration Statement, the Company shall:

          (i)   prepare and file with the Commission a Shelf Registration
Statement, on an appropriate form pursuant to Rule 415 of the Securities Act and
which the Company is eligible to use, with respect to such shares and use its
commercially reasonable best efforts to cause such Shelf Registration statement
to become and remain effective as provided herein;

          (ii)  prepare and file with the Commission such amendments and
supplements to such registration statement and the prospectus used in connection
therewith as may be necessary to keep such registration statement effective and
current and to comply with all of the provisions of the Act with respect to the
disposition of all shares covered by such registration statement, including such
amendments and supplements as may be necessary to reflect the intended method of
disposition from time to time of the prospective seller of such Registrable
Securities; and

          (iii) use its commercially reasonable best efforts to register or
qualify the Registrable Securities covered by such registration statement under
such other securities or blue sky or other applicable laws of such jurisdiction
within the United States as each prospective seller shall reasonably request, to
enable such seller to consummate the public sale or other disposition in such
jurisdictions of the Registrable Securities owned by such seller; provided,
however, that in no event shall the Company be obligated to qualify to do
business in any jurisdiction where it is not at the time so qualified or to take
any action that would subject it to service of process in suits other than those
arising out of the offer or sale of the Registrable Securities covered by such
registration statement in any jurisdiction where it is not at the time so
subject.

     (d) (i) Notwithstanding the other provisions of this Section 2, if at any
time the Company desires to effect a registered offering of securities (pursuant
to the Shelf Registration Statement or otherwise) and simultaneously therewith
any Holder desires to effect an underwritten offering pursuant to a Shelf
Registration Statement and if the underwriter determines that (i) marketing
factors require a limitation of the total number of shares to be underwritten,
or (ii) the offering

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price per share would be reduced by the inclusion of the securities of the
Company, then the number of shares to be included in the underwriting shall be
allocated first, among the Holders who indicated to the Company their decision
to distribute any of their Registrable Securities through such underwriters in
proportion, as nearly as practicable, to the respective numbers of shares of
Registrable Securities which such Holders indicated initially they wished to be
included in the underwriting, then the remainder, if any, to the Company.

          (ii)  Anything in this Agreement to the contrary notwithstanding, the
Holders shall not offer any Registrable Securities pursuant to the Shelf
Registration Statement if such offering would require the Company (i) to furnish
any financial statements other than as of the end of a fiscal quarter or (ii) to
furnish any audited financial statements other than as of the end of a fiscal
year. In addition to the foregoing, in the event of a proposed offering by a
Holder pursuant to the Shelf Registration Statement, at such time as any
registration statement would be required to include audited financial statement
as of a fiscal year-end, the Company may delay the dissemination of the required
notice and the taking of any action to effect a supplement to the Shelf
Registration Statement until such time as such audited financial statements are
available in the ordinary course of business.

          (iii) Subject to Section 3 hereof, no Holder shall offer any
Registrable Securities pursuant to the Shelf Registration Statement within 30
days after the effectiveness of any other registration of the Company's
securities (other than a registration statement (A) on Form S-8 or any successor
form to such Form or in connection with any employee or director welfare,
benefit or compensation plan, (B) on Form S-4 or any successor form to such Form
or in connection with an exchange offer or merger transaction, (C) in connection
with a rights offering exclusively to existing holders of shares of Buyer Common
Stock, (D) in connection solely with an offering to employees of the Company or
its subsidiaries or (E) relating to a transaction pursuant to Rule 145 of the
Securities Act).

Section 3.  "Piggy-Back" Registrations.  (a) If at any time the Company proposes
             -------------------------
to register any of its securities under the Securities Act and, in connection
with such offering, any shareholders of the Company are given the opportunity to
sell their securities (other than (i) a registration statement on Form S-8 or
Form S-4, or their successors, or any other form for a similar limited purpose,
(ii) a registration statement used in connection with (x) an offering to
employees of the Company or its subsidiaries or (y) a rights offering
exclusively to existing holders of shares of Buyer Common Stock or (iii) a
registration statement covering only securities proposed to be issued in
exchange for securities or assets of another corporation), whether or not for
its own account, the Company shall furnish prompt written notice to all Holders
of its intention to effect such registration and the intended method of
distribution in connection therewith.  Upon the written request of a Holder made
to the Company within 10 days after the delivery of such notice by the Company,
the Company shall include in such registration the requested number of the
requesting Holder's Registrable Securities (a "Piggy-Back Registration");
provided, however, that such requested number shall be subject to the Company's
or the underwriter's right, in view of market conditions, to refuse or reduce
the number of shares that the Holders propose to be registered.

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     (b) Nothing in Section 3 hereof shall create any liability on the part of
the Company, or any other person, to the Holders if the Company or any other
person should, for any reason, decide not to file a registration statement
proposed to be filed pursuant to Section 3(a) or to withdraw such registration
statement subsequent to its filing, regardless of any action whatsoever that a
Holder may have taken, whether as a result of the issuance by the Company of any
notice under Section 3(a) or otherwise.

Section 4.  Expenses of Registration.  In addition to the fees and expenses
            ------------------------
contemplated by Section 4 hereof, all expenses incurred in connection with one
registration per any Anniversary Date in respect of which unregistered
securities are issued pursuant to Section 2 hereof and all expenses incurred in
connection with Piggy-Back Registrations, including without limitation all
registration, filing and qualification fees, printing expenses, fees and
disbursements of counsel for the Company and expenses of any special audits of
the Company's financial statements incidental to or required by such
registration, shall be borne solely by the Company, except that the Company
shall not be required to pay underwriters' fees, discounts or commissions
relating to Registrable Securities sold for the account of any Holder or fees of
legal counsel for the Holders.

Section 5.  Registration Procedures.  In the case of each registration effected
            -----------------------
by the Company pursuant to this Agreement, the Company will keep each Holder
participating therein advised, promptly as soon as practicable, in writing as to
the initiation of each registration and as to the completion thereof.  At its
expense the Company will:

     (a) promptly prepare and file with the Commission such amendments and
supplements to such registration statement and the prospectus used in connection
therewith as may be necessary to comply with the provisions of the Securities
Act;

     (b) furnish such number of prospectuses and other documents incident
thereto as a Holder from time to time may reasonably request in order to
facilitate the disposition of Registrable Securities owned by such Holder;

     (c) use commercially reasonable best efforts to obtain the withdrawal of
any order suspending the effectiveness of a registration statement, or the
lifting of any suspension of the qualification of any of the Registrable
Securities for sale in any jurisdiction, at the earliest possible moment;

     (d) subject to Section 2(c)(iii), register or qualify such Registrable
Securities for offer and sale under the securities or Blue Sky laws of such
jurisdictions as any Holder or underwriter reasonably requires;

     (e) cause all Registrable Securities covered by such registrations to be
listed on each securities exchange, including NASDAQ, on which similar
securities issued by the Company are then listed;

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     (f) in the event of any underwritten public offering, enter into and
perform obligations under an underwriting agreement, in form and substance
reasonably satisfactory to the company, with the managing underwriter of such
offering;

     (g) cause its accountants to issue to the underwriter, if any, or the
Holders, if there is no underwriter, comfort letters and updates thereof, in
customary form and covering matters of the type customarily covered in such
letters with respect to underwritten offerings;

     (h) cause its counsel to issue to the underwriter, if any, or to the
Holders, if there is no underwriter, opinions in customary form and covering
matters of the type customarily covered in such opinions with respect to
underwritten offerings;

     (i) enter into such customary agreements (including underwriting agreements
in customary form);

     (j) make available for inspection by any seller of Registrable Securities,
any underwriter participating in any disposition pursuant to such registration
statement, and any attorney, accountant or other agent retained by any such
seller or underwriter, all financial and other records, pertinent corporate
documents and properties of the Company, and cause the Company's officers,
directors, employees and independent accountants to supply all information
reasonably requested by any such seller, underwriter, attorney, accountant or
agent in connection with such registration statement;

     (k) immediately notify each Holder, at any time a prospectus covered by
such registration statement is required to be delivered under the Securities
Act, of the happening of any event of which it has knowledge as a result of
which the prospectus included in such registration statement, as then in effect,
includes an untrue statement of a material fact or omits to state a material
fact required to be stated therein or necessary to make the statements therein
not misleading in the light of the circumstances then existing; and

     (l) take such other actions as shall be reasonably requested by any Holder.

Section 6.  Indemnification.
            ---------------

     (a) In the event of a registration, qualification or compliance of any of
the Registrable Securities under the Securities Act pursuant to Section 2 or
Section 3, the Company will indemnify and hold harmless each Holder of such
Registrable Securities thereunder, each underwriter of such Registrable
Securities thereunder and each other person, if any, who controls such Holder or
underwriter within the meaning of the Securities Act, against any losses,
claims, damages or liabilities, joint or several, to which such Holder,
underwriter or controlling person may become subject under the Securities Act,
insofar as such losses, claims, expenses, damages or liabilities (or actions in
respect thereof) arise out of or are based upon any untrue statement or alleged
untrue statement of any material fact contained in any registration statement
under which such Registrable Securities were registered under the Securities
Act, any preliminary prospectus or final prospectus contained therein, or any
amendment or supplement thereof, any offering circular or other offering
document or arise out of or are based upon the omission or alleged

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omission to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, or any violation by the
Company of any rule or regulation promulgated under the Securities Act or any
state securities law or rule or regulation promulgated under the Securities Act
or any state securities law applicable to the Company and relating to action or
inaction required of the Company in connection with any such registration,
qualification or compliance, and will reimburse each such Holder, each of its
officers, directors and partners, and each person controlling such Holder, each
such underwriter and each person who controls any such underwriter, for any
reasonable legal and any other expenses incurred in connection with
investigating, defending or settling any such claim, loss, damage, liability or
action; provided, that, notwithstanding the foregoing, the Company will not be
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liable in any such case to the extent that any such loss, claim, expense, damage
or liability arises out of or is based upon any untrue statement or alleged
untrue statement or omission or alleged omission made by such Holder or
underwriter specifically for use therein.

     (b) Each Holder will, if Registrable Securities held by or issuable to such
Holder are included in the securities as to which such registration,
qualification or compliance is being effected, indemnify and hold harmless the
Company, each of its directors and officers, each underwriter, if any, of the
Company's securities covered by such a registration statement, each person who
controls the Company and each underwriter within the meaning of the Securities
Act, and each other Holder, each of such other Holder's officers, directors and
partners and each person controlling such other Holder, against all losses,
claims, expenses, damages and liabilities (or actions in respect thereof)
arising out of or based upon any untrue statement or alleged untrue statement of
any material fact contained in any registration statement under which such
Registrable Securities were registered under the Securities Act, any preliminary
prospectus or final prospectus contained therein, or any amendment or supplement
thereof, any offering circular or other offering document, or arising out of or
based upon any omission or alleged omission to state therein a material fact
required to be stated therein or necessary to make the statements therein not
misleading, and will reimburse the Company, such Holders, such directors,
officers, partners, persons or underwriters for any reasonable legal or any
other expenses incurred in connection with investigating, defending or settling
any such claim, loss, damage, liability or action, in each case to the extent,
but only to the extent, that such untrue statement or alleged untrue statement
or omission or alleged omission is made in such registration statement,
preliminary prospectus, final prospectus, any amendment or supplement thereof,
any offering circular or other offering document in reliance upon and in
conformity with information furnished to the Company by such Holder specifically
for use therein; provided, however, the total amount for which any Holder, its
officers, directors and partners, and any person controlling such Holder, shall
be liable under this Section 5(b) shall be limited to the proportion of any such
loss, claim, damage, liability or expense which is equal to the proportion that
the public offering price of shares sold by such Holder under such registration
statement bears to the total public offering price of all securities sold
thereunder but not to exceed, in any event, the aggregate proceeds received by
such Holder from the sale of Registrable Securities sold by such Holder in such
registration, qualification or compliance.

     (c) Each party entitled to indemnification under this Section 5 (the
"Indemnified Party") shall give notice to the party required to provide
indemnification (the "Indemnifying Party")

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promptly after such Indemnified Party has actual knowledge of any claims as to
which indemnity may be sought, and shall permit the Indemnifying Party to assume
the defense of any such claim or any litigation resulting therefrom, provided
                                                                     --------
that counsel for the Indemnifying Party, who shall conduct the defense of such
claim or litigation, shall be approved by the Indemnified Party (whose approval
shall not be unreasonably withheld), and the Indemnified Party may participate
in such defense at such party's expense, and provided further that the failure
of any Indemnified Party to give notice as provided herein shall not relieve the
Indemnifying Party of its obligations hereunder, unless such failure resulted in
actual detriment to the Indemnifying Party. The Indemnifying Party shall not be
liable to indemnify any Indemnified Party for any settlement of any such action
effected without the Indemnifying Party's consent. No Indemnifying Party, in the
defense of any such claim or litigation, shall, except with the consent of each
Indemnified Party, consent to entry of any judgment or enter into any settlement
which does not include as an unconditional term thereof the giving by the
claimant or plaintiff to such Indemnified Party of a release from all liability
in respect of such claim or litigation.

     (d) Notwithstanding the foregoing, to the extent that the provisions on
indemnification contained in the underwriting agreements entered into among the
selling Holders, the Company and the underwriters in connection with the
underwritten public offering are in conflict with the foregoing provisions, the
provisions in the underwriting agreement shall be controlling as to the
Registrable Securities included in the public offering.

     (e) If the indemnification provided for in this Section 5 is held by a
court of competent jurisdiction to be unavailable to an indemnified party with
respect to any loss, liability, claim, damage or expense referred to therein,
then the Indemnifying Party, in lieu of indemnifying such Indemnified Party
thereunder, shall contribute to the amount paid or payable by such Indemnified
Party as a result of such loss, liability, claim, damage or expense in such
proportion as is appropriate to reflect the relative fault of the Indemnifying
Party on the one hand and of the Indemnified Party on the other hand in
connection with the statements or omissions which resulted in such loss,
liability, claim, damage or expense as well as any other relevant equitable
considerations. The relevant fault of the Indemnifying Party and the Indemnified
Party shall be determined by reference to, among other things, whether the
untrue or alleged untrue statement of a material fact or the omission to state a
material fact relates to information supplied by the Indemnifying Party or by
the Indemnified Party and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission.
Notwithstanding the foregoing, the amount any Holder shall be obligated to
contribute pursuant to this Section 5(e) shall be limited to an amount equal to
the proceeds to such Holder of the Registrable Securities sold pursuant to the
registration statement which gives rise to such obligation to contribute.

     (f) The indemnification provided by this Section 5 shall be a continuing
right to indemnification and shall survive the registration and sale of any
securities by any definition entitled to indemnification hereunder and the
expiration or termination of this Agreement.

Section 7.  Lockup Agreement.  In consideration for the Company agreeing to its
            ----------------
obligations under this Agreement, each Holder agrees in connection with any
underwritten registration of the

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Company's securities upon the request of the Company and the underwriters
managing the underwritten offering of the Company's securities, not to publicly
sell, make any short sale of, loan, grant any option for the purchase of, or
otherwise dispose of any Registrable Securities (other than those included in
the registration) without the prior written consent of the Company and such
underwriters for such period of time from the effective date of such
registration as the Company and the underwriters may specify (the "Lock Up");
provided, however, that all officers and directors of the Company enter into
--------  -------
similar agreements.

Section 8.  Obligations of the Holders.  (a) It shall be a condition precedent
            --------------------------
to the obligation of the Company to include any Registrable Securities of any
Holder in a registration statement pursuant to Section 2 or Section 3 of this
Agreement that the Holder shall promptly furnish to the Company such information
regarding such Holder or Holders and the intended method of distribution
proposed by such Holder or Holders as the Company may request in writing and as
shall be reasonably required in connection with any registration referred to
herein.  Any such information, or any comments on any such information included
in a draft of a registration statement provided to a Holder for its comment,
shall be provided to the Company within any reasonable time period requested by
the Company.

     (b) Each Holder shall notify the Company, at any time when a prospectus is
required to be delivered under applicable law, of the happening of any event as
a result of which the prospectus included in the applicable registration
statement, as then in effect, in each case only with respect to information
provided by such Holder, includes an untrue statement of a material fact or
omits to state a material fact required to be stated therein or necessary to
make the statements therein not misleading in light of the circumstances then
existing. Such Holder shall immediately upon the happening of any such event
cease using such prospectus. Any other Holders shall cease using such prospectus
immediately upon receipt of notice from the Company to that effect. Each Holder
promptly shall return to the Company any copies of any prospectus in its
possession (other than permanent file copies) that contains an untrue statement
of a material fact or omits to state a material fact required to be stated
therein or necessary to make the statements therein not misleading in light of
the circumstances then existing.

Section 9.  Sales.  With a view to making available to Holders of Registrable
            -----
Securities the benefits of certain rules and regulations of the Commission which
may permit the sale of the Registrable Securities by the Holders to the public
without registration, the Company agrees at all times prior to the termination
of this Agreement:

          (i)   make and keep public information available, as those terms are
understood and defined in Rule 144 and Rule 144A;

          (ii)  use its best efforts to file with the Commission in a timely
manner all reports and other documents required of the Company under the
Securities Act and the Exchange Act; and

          (iii) furnish to each Holder so long as such Holder owns any
Registrable Securities forthwith, upon written request, a written statement by
the Company that it has complied with the reporting requirements of Rule 144,
the Securities Act and the Exchange Act

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(to the extent that it is then subject to any such reporting requirements), a
copy of the most recent annual and quarterly report of the Company, and such
other reports and documents filed by the Company under the Exchange Act as may
be reasonably requested by such Holder in connection with availing the Holder of
any rule or regulation of the Commission permitting the selling of such
securities without registration.

Section 10.  Transfer of Registration Rights.  The rights to cause the Company
             -------------------------------
to register Registrable Securities of a Holder and keep information available
granted to a Holder by the Company under Section 2, may be assigned by a Holder
to any partner or shareholder of such Holder, to one or more affiliated
partnerships managed by such Holder, any other Holder, to any "Affiliate" of the
Holder; or to a transferee or assignee who receives at least 20% of the
Registrable Securities held by such Holder; provided that the Company is given
                                            --------
written notice by the Holder at the time of or within a reasonable time after
said transfer, stating the name and address of said transferee or assignee and
identifying the securities with respect to which such registration rights are
being assigned, and that said transferee or assignee agrees in writing to be
bound by the terms and provisions of this Agreement as if an original signatory
thereto.

Section 11.  Termination of Rights.  This Agreement shall terminate at 5:00 p.m.
             ---------------------
Eastern time on January __, 2005.

Section 12.  Miscellaneous.
             -------------

     (a) Entire Agreement; Amendments. This Agreement, together with the
         ----------------------------
Purchase Agreement, constitutes the entire agreement of the parties within
respect to the subject matter hereof and may be amended or modified only by a
writing signed by the Company and the Holders. The Holders hereby consent to
future amendments to this Agreement that permit future investors to be made
parties hereto and to become Holders of Registrable Securities.

     (b) Counterparts.  This Agreement may be executed in any number of
         ------------
counterparts, all of which shall constitute a single instrument.

     (c) Notices, Etc. All notices and other communications required or
         ------------
permitted hereunder shall be in writing and may be sent initially by facsimile
transmission and shall be mailed by registered or certified mail, postage
prepaid, or otherwise delivered by hand or by messenger, addressed (i) if to a
Holder, at such Holder's address set forth on the books of the Company, or at
such other address as such Holder shall have furnished to the Company in
writing, or (ii) if to any other holder of any Registrable Securities, at such
address as such holder shall have furnished the Company in writing, or, until
any such holder so furnishes an address to the Company, then to and at the
address of the last holder of such securities who has so furnished an address to
the Company, or (iii) if to the Company, one copy should be sent to the
Company's current address at 3 Park Avenue, New York, New York 10019, or at such
other address as the Company shall have furnished to the Holders. All such
notices shall be effective and deemed duly given when received or when attempted
delivery is refused.

     (d) Non-Public Information.  Any other provisions of this agreement to the
         ----------------------
contrary notwithstanding, the Company's obligation to file a registration
statement, or cause such

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registration statement to become and remain effective, shall be suspended for a
period not to exceed 60 days (and for periods not exceeding, in the aggregate,
120 days in any 24-month period) if there exists at the time material non-public
information relating to the Company which, in the reasonable opinion of the
Company, should not be disclosed.

     (e) Severability.  If any provision of this Agreement shall be held to be
         ------------
illegal, invalid or unenforceable, such illegality, invalidity or
unenforceability shall attach only to such provision and shall not in any manner
affect or render illegal, invalid or unenforceable any other provision of this
Agreement, and this Agreement shall be carried out as if any such illegal,
invalid or unenforceable provision were not contained herein.

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     (f) Governing Law. This Agreement shall be governed by and construed under
         -------------
the laws of the State of New York without regard to principles of conflict of
law.

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

                              EARTHWEB INC.

                              By: ______________________________________
                                  Name:
                                  Title:

                              Holders

                              __________________________________________
                              Kevin R. Brice

                              __________________________________________
                              Robert M.M. Holtackers

                                       12<PAGE>

                                                                    Exhibit 10.1

                                                                  EXECUTION COPY

                       OPTION HOLDER PURCHASE AGREEMENT

     This Option Holder Purchase Agreement (this "Agreement") is made this 13th
day of January, 2000, by and between EarthWeb Inc., a Delaware corporation
("Buyer"), and Jeff Adkisson ("Seller").

                               R E C I T A L S:

     WHEREAS, Buyer desires to purchase, and Seller desires to sell, assign and
transfer to Buyer all of the capital stock in Measure Up, Inc. ("Target") which
Seller owns (which amount of shares is set forth on Exhibit A to this Agreement)
or in which Seller has an interest (through options or otherwise), all on the
terms and subject to the conditions hereinafter set forth as part of that
certain Securities Purchase Agreement dated January 13, 2000, by and between
Buyer, Target, Kevin R. Brice and Robert M. M. Holtackers (the "Purchase
Agreement"). All of the securities or interests in securities of Target, which
are to be purchased by Buyer pursuant to this Agreement, are collectively
referred to hereinafter as the "Securities."

     NOW, THEREFORE, in consideration of the foregoing premises and the mutual
promises, agreements, representations, warranties and covenants herein
contained, the parties hereby agree as follows:

                                   SECTION 1

                                    Closing

     1.1. Closing Date.  The closing (the "Closing") of the transactions
          ------------
contemplated hereby shall be held at the offices of counsel to Buyer, Morrison &
Foerster LLP, 1290 Avenue of the Americas, 40th Floor, New York, New York 10104-
0050 and shall take place no later than sixty (60) days from the date of this
Agreement (the "Termination Date") or such other date and place as may be
mutually agreed upon by the parties (the "Closing Date").

     1.2. Purchase and Sale of Securities.  On the terms and subject to the
          -------------------------------
conditions herein set forth, Buyer shall purchase from Seller all of the
Securities, as of the Closing Date.

     1.3. Method of Conveyance.
          --------------------

          (a)  The sale, transfer, conveyance, assignment and delivery by Seller
of the Securities to Buyer shall be effected on the Closing Date by the delivery
of the Securities and execution of customary stock powers, duly guaranteed, and
other appropriate documents by Seller, as appropriate (collectively, the
"Instruments of Conveyance"), to Buyer.

          (b)  At the Closing, good and valid title to all of the Securities
shall be transferred, conveyed, assigned and delivered by Seller to Buyer
pursuant to this Agreement and the

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<PAGE>

Instruments of Conveyance, free and clear of any and all Liens (as defined
below). For the purposes of this Agreement, the term "Lien" shall mean any
pledge, security interest, encumbrance, lien or charge of any kind whatsoever.

     1.4. Purchase Price.
          --------------

     The aggregate purchase price for the Securities (the "Purchase Price") is
up to a dollar amount determined by multiplying Twenty Five Million Dollars
($25,000,000) by the percentage ownership by Seller of the Target on a fully
diluted basis (as set forth in Exhibit A hereto; the percentage ownership by
Seller of the Target on a fully diluted basis is referred to herein as the
"Seller Percentage"):

          (a)  at the Closing, Buyer shall pay to Seller in cash, the product of
(i) Four Million Dollars ($4,000,000) multiplied by (ii) the Seller Percentage
(the "Closing Date Cash Payment");

          (b)  at the Closing, Buyer shall deliver to Seller the Seller
Percentage of registered shares of Buyer's common stock, $.01 par value ("Buyer
Common Stock"), having an aggregate value of Six Million Dollars ($6,000,000)
(the "Closing Date Block of Buyer Common Stock") multiplied by the Seller
Percentage, such number of shares to be determined by taking the average of the
closing prices of Buyer Common Stock on the Nasdaq National Market (the "Average
Price") during the five (5) trading days immediately preceding the Closing Date
and dividing such Average Price into $6,000,000 (the "Closing Price") (provided,
                                                                       --------
however, that instead of delivering to Seller shares of Buyer Common Stock
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having an aggregate value of $6,000,000 multiplied by the Seller Percentage,
Buyer may pay Seller all or part of such amount in cash);

          (c)  upon the three-month anniversary of the Closing Date (the "Three-
Month Anniversary Date"), Buyer shall pay to Seller in cash, the product of (i)
Two Million Five Hundred Thousand Dollars ($2,500,000) multiplied by (ii) the
Seller Percentage;

          (d)  upon the six-month anniversary of the Closing Date (the "Six-
Month Anniversary Date"), Buyer shall pay to Seller in cash, the product of (i)
Two Million Five Hundred Thousand Dollars ($2,500,000) multiplied by (ii) the
Seller Percentage;

*** CONFIDENTIAL TREATMENT REQUESTED 1

          (e) if the Year One Earn-out Threshold (as defined in Section 1.7) has
been achieved, then upon the one-year anniversary of the Closing Date (the "One-
Year Anniversary Date") Buyer shall pay to Seller, in cash, an amount equal to
the product of (i) the Seller Percentage and (ii) $*** (such product, the "Year
One Earn-out Amount"). Notwithstanding the foregoing, if only $*** of the Year
One Earn-out Threshold has been achieved, then Seller shall receive 25% of the
Year One Earn-out Amount, but to be paid in the same manner as the Year One
Earn-out Amount; provided further, to the extent that between $*** and $*** of
the Year One Earn-out Threshold has been achieved, then Seller shall receive 25%
of the Year One Earn-out Amount plus an amount equal to the product of (i) 75%
of the Year One Earn-out Amount and (ii) a fraction the numerator of which is
the amount by which Invoiced Revenues (as defined herein) exceeds $*** and the
denominator of which is ***; in any case, to be paid in the same manner as the
Year One Earn-out

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<PAGE>

Amount; provided further, to the extent Target produces an Integrated Assessment
Product (as defined herein) (i) on or prior to June 30, 2000, the Seller shall
be entitled to receive the entire amount of the Year One Earn-out Amount it is
entitled to receive under the terms of this paragraph, (ii) after June 30, 2000
but on or prior to September 1, 2000, then Seller shall be entitled to receive
only 85% of the Year One Earn-out Amount it is entitled to receive under the
terms of this paragraph, (iii) after September 1, 2000, then Seller shall be
entitled to receive only 80% of the Year One Earn-out Amount it is entitled to
receive under the terms of this paragraph;

*** CONFIDENTIAL TREATMENT REQUESTED 2

          (f) if the Year Two Earn-out Threshold (as defined in Section 1.7) has
been achieved, then upon the two-year anniversary of the Closing Date (the "Two-
Year Anniversary Date") Buyer shall pay to Seller, in cash, an amount equal to
the product of (i) the Seller Percentage and (ii) $*** (such product, the "Year
Two Earn-out Amount"). Notwithstanding the foregoing, if only $*** of the Year
Two Earn-out Threshold has been achieved, then Seller shall receive 25% of the
Year Two Earn-out Amount, but to be paid in the same manner as the Year Two
Earn-out Amount; provided further, to the extent that between $*** and $*** of
the Year Two Earn-out Threshold has been achieved, then Seller shall receive 25%
of the Year Two Earn-out Amount plus an amount equal to the product of (i) 75%
of the Year Two Earn-out Amount and (ii) a fraction the numerator of which is
the amount by which Invoiced Revenues (as defined herein) exceeds $*** and the
denominator of which is ***; in any case, to be paid in the same manner as the
Year Two Earn-out Amount; and

*** CONFIDENTIAL TREATMENT REQUESTED 3

          (g) if the Year Three Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the three-year anniversary of the Closing Date (the
"Three-Year Anniversary Date") Buyer shall pay to Seller, in cash, the an amount
equal to the product of (i) the Seller Percentage and (ii) $*** (such product,
the "Year Three Earn-out Amount"). Notwithstanding the foregoing, if only $***
of the Year Three Earn-out Threshold has been achieved, then Seller shall
receive 25% of the Year Three Earn-out Amount, but to be paid in the same manner
as the Year Three Earn-out Amount; provided further, to the extent that between
$*** and $*** of the Year Three Earn-out Threshold has been achieved, then
Seller shall receive 25% of the Year Three Earn-out Amount plus an amount equal
to the product of (i) 75% of the Year Three Earn-out Amount and (ii) a fraction
the numerator of which is the amount by which Invoiced Revenues (as defined
herein) exceeds $*** and the denominator of which is ***; in any case, to be
paid in the same manner as the Year Three Earn-out Amount.

     1.5. Method of Payment.  Except as otherwise expressly provided herein, all
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cash payments from one party to another under this Agreement shall be made by
check or wire transfer in United States dollars to an address designated in
writing by the party to receive such payment.  To the extent that any payment of
cash is scheduled to be made on an anniversary date of the Closing Date which is
not a Business Day (as defined in Section 6.12), then such payment or delivery
will be made on the Business Day immediately following such anniversary date.

     1.6. Contingent Consideration and Post-Closing Consideration.
          -------------------------------------------------------

          (a)  The consideration described in clauses 1.4(c), (d), (e), (f) and
(g) shall collectively be referred to herein as the "Post-Closing Consideration"
and the consideration

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<PAGE>

described in clauses 1.4(e), (f) and (g) shall collectively be referred to
herein as the "Contingent Consideration".

          (b)  *** CONFIDENTIAL TREATMENT REQUESTED 4

          (c)  [RESERVED]

          (d)  To the extent required by applicable Tax laws, the Post-Closing
Consideration shall be treated as interest (or original issue discount) for Tax
purposes.  For purposes of this Agreement, "Tax" or "Taxes" shall mean any
federal, state, local or foreign income, gross receipts, license, payroll,
employment, excise, severance, stamp, occupation, premium, windfall profits,
environmental, customs duties, capital stock, property, franchise, profits,
withholding, social security (or similar), sales, use, transfer, registration,
value added, alternative or add-on minimum, estimated or other tax of any kind
whatsoever, including any interest, penalty or addition thereto, imposed by any
United States federal, state or local taxing Authority, or any foreign taxing
Authority.

     1.7. Conditions for Delivery of Contingent Consideration.
          ---------------------------------------------------

          (a)  For the purpose of computing the Contingent Consideration, Buyer
may be obligated to pay Seller:

          (i)       "Organic Business" shall refer to the business of the Target
     as conducted as of the date hereof and other related web-based business or
     certification and assessment business.

          (ii)      "Acquired Business" shall refer to any of Buyer's
     acquisitions completed after the Closing Date of businesses substantially
     similar to the Organic Business or assets of a business substantially
     similar to the Organic Business; provided, however, this shall not include
     any revenues generated by All Rossi, Inc. d/b/a CCPrep ("CCPrep") either on
     or via its website or other on-line activities.

          (iii)     "Organic Revenues" shall mean the Target's revenues from the
     conduct of the Organic Business as reflected in the September 1999
     Financial Statements plus revenues generated by CCPrep either on or via its
     website or other on-line activities excluding revenues derived from any on-
     line banner advertising.

          (iv)      "Acquired Revenues" shall mean any amount of revenue
     directly attributable to an Acquired Business for a given fiscal year in
     excess of an amount of revenue for such Acquired Business determined by
     multiplying (A) the revenues for such Acquired Business for the two (2)
     full calendar months immediately preceding the

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<PAGE>

     consummation of the acquisition of such Acquired Business by (B) six (6).

          (v)       "GAAP Revenue Recognition Period" shall mean the period of
     time over which revenue is recognized in accordance with GAAP. This period
     is currently nine months and, notwithstanding any changes to the duration
     of such period in accordance with GAAP after the date hereof, the
     calculation of the Contingent Consideration hereunder shall not be affected
     by such changes.

          (vi)      "Invoiced Revenue" shall mean Organic Revenue not adjusted
     for revenue recognized for the GAAP Revenue Period plus Acquired Revenues,
     but net of returns of product, as well as allowances and write-offs of
     uncollectible receivables (other than uncollectible receivables written off
     in the ordinary course of business). Invoiced Revenue shall not be adjusted
     for the GAAP Revenue Recognition Period.

*** CONFIDENTIAL TREATMENT REQUESTED 5

          (vii)     "Year One Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2000.

          (viii)    "Year Two Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2001.

          (ix)      "Year Three Earn-out Threshold" shall refer to ***
     Dollars ($***) of Invoiced Revenue for fiscal year ended
     December 31, 2002.

          (x)       "Integrated Assessment Product" shall refer to the
     successful development and implementation of an integrated assessment
     product by Kevin Brice in cooperation with EW Career Solutions, Inc.
     ("EW"), a subsidiary of Buyer that operates the Dice.com business,
     utilizing adaptive learning technologies to assess the skill level of the
     test taker and which shall be integrated into the EW system. The subject
     areas for which this product shall be developed are identified on Exhibit C
     hereto.

          (b)  Each payment of Contingent Consideration required to be paid
pursuant to the terms of this Agreement shall be paid by Buyer to the Seller as
promptly as practicable following the first business day of April following the
applicable measurement period for the Invoiced Revenues (which shall be not
later than the fifth business day of April).

          (c)  In the event that Buyer sells all or substantially all of the
Organic Business, then Buyer shall ensure that all of its obligations hereunder
with respect to the payment of Contingent Consideration shall be assumed in all
material respects to the acquiror of such Organic Business.

          (d)  Buyer shall operate the Organic Business from and after the
Closing Date in the ordinary course of business.

     1.8. Withholding for Options.  Buyer and Seller agree that all withholding,
          -----------------------
if any, will be made with respect to the Securities.

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<PAGE>

                                   SECTION 2

              Individual Representations and Warranties of Seller

     Seller represents and warrants to Buyer as of the date of this Agreement as
follows:

     2.1. Capital Stock.  Seller is the owner, beneficially and of record, of
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the Securities set forth opposite such person's name on Exhibit A hereto.  The
Securities will not be subject to any liens or restrictions on transfer, other
than restrictions imposed by applicable securities laws and, upon the transfer
of the Securities to Buyer, Buyer will obtain good and marketable title to the
Securities, free and clear of all liens, claims and encumbrances of any kind.
At the Closing Date, other than the affirmative obligation of Seller to exercise
its options and convert them into shares of capital stock of Target, there will
be no authorized or outstanding option, subscription, warrant, call, right,
commitment or other agreement obligating Seller to issue or transfer any of its
Securities.  Seller is not a party to any voting trust, proxy or other agreement
or understanding with respect to the Securities.

     2.2. Authorization; Consents; Enforceability.
          ---------------------------------------

          (a)  This Agreement and the Transaction Documents to which Seller is a
party or a signatory, have been duly authorized, executed and delivered by
Seller and constitute the legal, valid and binding obligation of Seller
enforceable in accordance with their respective terms subject to applicable
bankruptcy, insolvency and similar laws affecting creditors' rights generally
and to general principles of equity.

          (b)  No Consent is required to be obtained by Seller from, and no
notice or filing is required to be given by, Seller to or made by Seller with,
any Governmental Authority or other person in connection with the execution,
delivery and performance by Seller of this Agreement.

          (c)  The execution and delivery by Seller of this Agreement and the
Transaction Documents to which it is a party do not, and the consummation by
Seller of the transactions contemplated hereby or thereby will not (i) violate
or conflict with, or result (with the giving of notice or lapse of time or both)
in a violation of or constitute a default (or give rise to any right of
termination, cancellation or acceleration) under any of the terms, conditions or
provisions of any note, agreement or other instrument or obligation to which
Seller is a party or by which any of its assets may be bound, except for such
violations or defaults (or rights of termination, cancellation or acceleration)
as to which requisite waivers or consents have been obtained or (iii) violate
any order, writ, injunction, decree, statute, rule or regulation applicable to
Seller or any of its assets.

     2.3. Litigation.  There is no litigation, action, claim, proceeding or
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governmental investigation pending or, to the knowledge of Seller, threatened
against Seller which may affect Seller's ability to perform his obligations
under this Agreement.

                                   SECTION 3

                    Representations and Warranties of Buyer

     Buyer represents and warrants to Seller as follows:

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<PAGE>

     3.1. Requisite Power.  Buyer has all requisite corporate power to execute
          ---------------
and deliver this Agreement and to carry out and perform its obligations under
the terms of this Agreement and the Transaction Documents to which it is a
party.

     3.2. Authorization.  All action on the part of Buyer necessary for the
          -------------
authorization, execution, delivery and performance of this Agreement and the
Transaction Documents to which it is a party has been taken and remains in full
force and effect.  This Agreement constitutes, and the Transaction Documents to
which Buyer is a party will each constitute, the valid and binding obligation of
Buyer enforceable against Buyer in accordance with its terms.

     3.3. No Conflict.  The execution, delivery and performance of this
          -----------
Agreement and any of the Transaction Documents to which it is a party by Buyer
have not resulted and will not result in, nor will consummation of the
transactions contemplated hereby or thereby result in, any violation of, or
conflict with, or constitute a default under, any of its charter documents, or
result in any material violation of, or conflict with, or constitute a default
under, any of its material agreements; and there exists no such violation or
default that does or could materially and adversely affect the ability of Buyer
to consummate its obligations hereunder.

     3.4. Governmental Consents, etc.  No consent, approval or authorization of
          --------------------------
or designation, declaration, or filing with any Authority on the part of Buyer
is required in connection with the valid execution and delivery of this
Agreement or any Transaction Document to which it is a party or the consummation
of the transactions contemplated thereby or thereby.

     3.5. Brokers or Finders.  Buyer has not incurred, and will not incur,
          ------------------
directly or indirectly, any liability for brokerage or finders' fees or agents'
commissions or any similar charges in connection with this Agreement or any
transaction contemplated hereby.

     3.6. Organization and Qualification.  Buyer is a corporation duly
          ------------------------------
organized, validly existing and in good standing under the laws of the State of
Delaware and has the corporate power to carry on its business as it is now being
conducted or currently proposed to be conducted and is qualified to do business
in each jurisdiction where such qualification is required except where the
failure to be so qualified would not have a material adverse effect.

     3.7. Validity of Shares to be Issued.  The issuance of the shares of
          -------------------------------
Buyer Common Stock to Seller under this Agreement has been duly authorized by
all necessary corporate action, and, upon issuance in accordance with the terms
of this Agreement, will be validly issued, fully paid and nonassessable and
issued free of pre-emptive rights.

     3.8. No Brokers or Finders.  No Person is or will be entitled to receive
          ---------------------
from Seller any brokers', finders' or similar fee or commission in connection
with the transaction contemplated by Agreement on account of services rendered
to Buyer.

     3.9. Reports.  Buyer has made available to Seller true and complete copies
          -------
of the Shelf Registration Statement (as defined below) and any other reports or
registration statements filed by Buyer with the Securities Exchange Commission
("Commission") since November 1999, except for preliminary material, which are
all the documents that Buyer was required to file with the Commission since that
date (collectively, the "Buyer SEC Reports").  As of their respective

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<PAGE>

dates, the Buyer SEC Reports complied as to form in all material respects with
the requirements of the Securities Act or the Securities Exchange Act of 1934,
as amended (the "Securities Exchange Act"), as the case may be, and the rules
and regulations of the Commission thereunder applicable to the Buyer SEC
Reports. As of their respective dates, the Buyer SEC Reports did not contain any
untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading.

     3.10. Effectiveness of Registration of Buyer Stock.  All of the registered
           --------------------------------------------
Buyer Stock contemplated to by issued by Buyer pursuant to Section 1.5 of this
Agreement has been duly registered under the Securities Act of 1933, as amended
(the "Securities Act"), pursuant to the registration statement filed November
22, 1999 of Buyer on Form S-4 under the Securities Act pursuant to Rule 415
under the Securities Act (the "Shelf Registration Statement").  The Shelf
Registration Statement became effective on December 14, 1999 and remains
effective as of the date hereof.

                                   SECTION 4

                                    Closing

     4.1.  Conditions to Obligation of Buyer.  The obligation of Buyer to
           ---------------------------------
consummate the transactions to be performed by it in connection with the Closing
is subject to satisfaction of the following conditions;

           (a) the representations and warranties set forth in Section 2 above
shall be true and correct in all material respects at and as of the Closing
Date;

           (b) Seller shall have provided evidence reasonably satisfactory to
Buyer's counsel that prior to the Closing Date, Seller has exercised all of its
outstanding options of Target and converted such options into shares of capital
stock of Target;

           (c) the exercise price to be paid by Seller in respect of the options
has been paid to the Target and all options held by Seller have been converted
into shares of common stock of the Target;

           (d) no action, suit, or proceeding is pending before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction or before any arbitrator wherein an unfavorable injunction,
judgment, order, decree, ruling or charge would (A) prevent consummation of any
of the transactions contemplated by this Agreement, (B) cause any of the
transactions contemplated by this Agreement to be rescinded following
consummation or (C) affect adversely the right of Buyer to acquire the
Securities (and no such injunction, judgment, order, decree, ruling or charge
shall be in effect);

           (e) Seller shall have delivered to Buyer a certificate signed by
Seller to the effect that each of the conditions specified above in Section
4.1(a) through (c) is true in all respects;

           (f) Buyer shall have received, from or on behalf of Seller or other
applicable party, delivery of all the Closing Documents listed in Section 4.3
below;

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<PAGE>

          (g)  the closing of the transactions contemplated by the Purchase
Agreement shall be occurring; and

          (h)  all actions to be taken by Seller in connection with consummation
of the transactions contemplated hereby and by the other Transaction Documents
and all certificates, opinions, instruments and other documents required to
effect the transactions contemplated hereby and thereby will be reasonably
satisfactory in form and substance to Buyer.

                    Buyer may waive any condition specified in this Section 4.1
if it executes a writing so stating at the Closing.

     4.2. Conditions to Obligations of Seller.  The obligations of Seller to
          -----------------------------------
consummate the transactions to be performed by them in connection with the
Closing is subject to satisfaction of the following conditions:

          (a)  the representations and warranties set forth in Section 3 above
shall be true and correct in all material respects at and as of the Closing
Date;

          (b)  no action, suit, or proceeding is pending before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction or before any arbitrator wherein an unfavorable injunction,
judgment, order, decree, ruling or charge would (A) prevent consummation of any
of the transactions contemplated by this Agreement or (B) cause any of the
transactions contemplated by this Agreement to be rescinded following
consummation (and no such injunction, judgment, order, decree, ruling or charge
shall be in effect);

          (c)  Seller shall have received from Buyer all of the Closing
Documents listed in Section 4.4 below;

          (d)  the closing of the transactions contemplated by the Purchase
Agreement shall be occurring; and

          (e)  Buyer shall have delivered to Seller a certificate signed by an
executive officer of Buyer to the effect that each of the conditions specified
above in Section 4.2(a) through (c) is true in all respects.

                    Seller may waive any condition specified in this Section 4.2
if it executes a writing so stating at the Closing.

     4.3. Seller Deliveries.  Simultaneously with the Closing of the
          -----------------
transactions contemplated by this Agreement, the following documents shall be
executed and/or delivered by Seller to Buyer:

          (a)  the certificates representing Target's options, together with
stock powers executed in blank and any certificates or documents representing
the Target options;

          (b)  a release signed by Seller, of rights to options of Target set
forth on Exhibit A hereto

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<PAGE>

          (c)  the Employment Agreement between Seller and Buyer in
substantially the form annexed hereto as Exhibit B (the "Employment Agreement");
and

          (d)  the other Transaction Documents.

     4.4. Buyer Deliveries.  Simultaneously with the Closing of the transactions
          ----------------
contemplated by this Agreement, the following documents or items shall be
executed and/or delivered by Buyer to Seller or other applicable party:

          (a)  the Employment Agreement;

          (b)  the Closing Date Cash Payment; and

          (c)  the Closing Date Block of Buyer Common Stock.

                                   SECTION 5

                                   Covenants

     5.1. Covenants Pending Closing.
          -------------------------

          (a)  Each party shall cooperate in obtaining all required consents,
audits, and completion of other transactions contemplated to have occurred as of
the Closing and to use best efforts to cause the fulfillment of the conditions
to the other party's obligation to consummate the transactions contemplated
hereby. In that regard, Seller shall have the affirmative obligation to exercise
its options of Target prior to the Closing Date and pay the exercise price per
share in connection therewith.

          (b)  Each party will give to the other prompt written notice of any
material adverse change in any fact or circumstance respecting which a
representation, warranty, covenant or agreement has been made by it herein.

     5.2. Post-Closing Covenants.
          ----------------------

          (a)  From and after the Closing, Seller shall execute all such
instruments or documents and take all such other actions as Buyer may reasonably
request to effectuate the transactions contemplated hereby, including, without
limitation obtaining of any necessary or advisable consents not required by
Buyer prior to Closing in connection with the transactions contemplated hereby.

          (b)  Seller shall indemnify (pro rata, based on the Purchase Price
receivable by each party comprising Seller), defend and hold harmless Buyer, its
officers, directors, employees, partners, members, shareholders, Affiliates (and
their officers, directors, employees, members, partners and shareholders) and
agents (collectively, the "Buyer Indemnified Parties") from and against any
action, loss, liability, damage, claim, fine, penalty, lien or expense,
including reasonable legal costs, attorneys' fees and expenses (collectively,
"Buyer Loss"), to the extent the same arises out of any breach by Seller of any
representation, warranty, agreement or covenant made by Seller herein or in any
Transaction Document.

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<PAGE>

          (c)  Buyer shall indemnify, defend and hold harmless Seller from and
against any action, loss, liability, damage, claim, fine, penalty, lien,
interest or expense, including without limitation, reasonable legal costs,
attorneys' fees and expenses (collectively, "Seller Loss"), to the extent the
same arises out of breach by Buyer of any representation, warranty, agreement or
covenant made by Buyer herein or in any Transaction Document.

          (d)  Seller hereby agrees that it will sell shares of Buyer Common
Stock only in compliance with applicable federal and state securities laws.

                                   SECTION 6

                                 Miscellaneous

     6.1. Governing Law.  This Agreement shall be governed in all respects by
          -------------
the laws of the State of New York, without giving effect to any choice or
conflict of law provision or rule (whether of the State of New York or any other
jurisdiction that would cause the application of the laws of any jurisdiction
other that the State of New York).

     6.2. Survival.  The representations and warranties made herein shall
          --------
survive any investigation made by the parties and the Closing of the
transactions contemplated hereby.  Except as expressly provided otherwise
herein, the covenants and agreements made herein shall survive the Closing of
the transactions contemplated hereby for a period of 18 months from the Closing
Date; provided, that, notwithstanding the foregoing, the representations and
      --------  ----
warranties set forth in Section 2.1 and Section 2.2(a) in their entirety shall
survive forever; provided, further, that notwithstanding anything to the
                 --------  -------
contrary contained in this Agreement, with respect to any claim of intentional
fraud on the part of Seller, Seller will not have the benefit of any of the
limitations of this Section 6.2.

     6.3. Successors and Assigns.  Except as otherwise provided herein, the
          ----------------------
provisions hereof shall inure to the benefit of, and be binding upon, the
successors, assigns, heirs, executors and administrators of the parties hereto.
No party may assign any of its rights or obligations hereunder without the
express written consent of the other party hereto, which consent may not be
unreasonably withheld; provided, however, any party may assign any and all of
                       --------  -------
its rights and interests hereunder to one or more of its affiliates and
designate one or more of its affiliates to perform its obligations hereunder;
provided, however, that such party remains liable for full and total performance
of its obligations hereunder.

     6.4. Notices.  Any notices authorized to be given hereunder shall be in
          -------
writing and deemed given, if delivered personally or by overnight courier, on
the date of delivery, if a Business Day, or if not a Business Day, on the first
Business Day following delivery, or if mailed, three days after mailing by
registered or certified mail, return receipt requested, and in each case,
addressed, as follows:

                                       11
<PAGE>

          If to Buyer:

          EarthWeb Inc.
          Three Park Avenue, 38th Floor
          New York, NY 10016
          Facsimile: (212) 725-6559
          Attention: Jack D. Hidary, President

          and a copy to:

          John Hempill, Esq.
          Morrison & Foerster LLP
          1290 Avenue of the Americas
          New York, NY 10104-0185
          Facsimile: (212) 468-7900

          If to Seller:

          At the address set forth under Seller's name and signature on the
          signature page hereto.

          and a copy to:

          Brian T. Casey, Esq.
          Morris, Manning & Martin, LLP
          1600 Atlanta Financial Center
          Atlanta, Georgia 30326
          Facsimile: (404) 365-9532

or if delivered by telecopier, on a Business Day before 4:00 PM local time of
addressee, on transmission confirmed electronically, or if at any other time or
day on the first Business Day succeeding transmission confirmed electronically,
to the facsimile numbers provided above, or to such other address or telecopy
number as any party shall specify to the other, pursuant to the foregoing notice
provisions.

     6.5. Waiver; Amendments.  This Agreement and the Transaction Documents, (i)
          ------------------
set forth the entire agreement of the parties respecting the subject matter
hereof, (ii) supersede any prior and contemporaneous understandings, agreements,
or representations by or among the parties, written or oral, to the extent they
related in any way to the subject matter hereof and (iii) may not be amended
orally, and no right or obligation of any party may be altered, except as
expressly set forth in a writing signed by such party.

     6.6. Counterparts.  This Agreement may be signed in several counterparts.
          ------------

     6.7. Expenses.  Each party shall bear its own expenses incurred with
          --------
respect to the preparation of this Agreement and the consummation of the
transactions contemplated hereby.

                                       12
<PAGE>

     6.8.  Arbitration.
           -----------

           (a) If at any time there shall be a dispute arising out of or
relating to any provision of this Agreement, any Transaction Document or any
agreement contemplated hereby or thereby, such dispute shall be submitted for
binding and final determination by arbitration in accordance with the
regulations then obtaining of the American Arbitration Association. Judgment
upon the award rendered by the arbitrator(s) resulting from such arbitration
shall be in writing, and shall be final and binding upon all involved parties.
The site of any arbitration shall be within New York City, New York.

           (b) This arbitration clause shall survive the termination of this
Agreement, any Transaction Document and any agreement contemplated hereby or
thereby.

     6.9.  Waiver of Jury Trial; Exemplary Damages.  THE PARTIES HERETO HEREBY
           ---------------------------------------
WAIVE THEIR RIGHTS TO TRIAL BY JURY WITH RESPECT TO ANY DISPUTE ARISING UNDER
THIS AGREEMENT AND ANY TRANSACTION DOCUMENT (OTHER THAN THE EMPLOYMENT
AGREEMENT).  No party shall be awarded punitive or other exemplary damages
respecting any dispute arising under this Agreement or any Transaction Document
contemplated hereby.

     6.10. Attorneys' Fees.  The unsuccessful party to any court or other
           ---------------
proceeding arising out of this Agreement or any Transaction Document that is not
resolved by arbitration under Section 6.8 shall pay to the prevailing party all
attorneys' fees and costs actually incurred by the prevailing party, in addition
to any other relief to which it may be entitled.  Otherwise, attorneys' fees
shall be paid in accordance with the judgment rendered.  As used in this Section
6.10 and elsewhere in this Agreement, "actual attorneys' fees" or "attorneys'
fees actually incurred" means the full and actual cost of any legal services
actually performed in connection with the matter for which such fees are sought,
calculated on the basis of the usual fees charged by the attorneys performing
such services, and shall not be limited to "reasonable attorneys' fees" as the
term may be defined in statutory or decisional Authority.

     6.11. Transaction Documents.  When used in this Agreement, the term
           ---------------------
"Transaction Documents" shall mean this Agreement and the Employment Agreement.

     6.12. Business Day.  When used in this Agreement, the term "Business Day"
           ------------
shall mean a day other than a Saturday, Sunday or a day on which commercial
banks in New York City are generally closed for business.

     6.13. Termination.
           -----------

           (a) This Agreement may be terminated prior to the Closing as follows:

                    (i)  at the election of Seller, if any one or more of the
     conditions to its obligation to close set forth in Section 4.2 of this
     Agreement has not been fulfilled as of the Closing Date;

                                       13
<PAGE>

                    (ii)      at the election of the Buyer, if any one or more
     of the conditions to its obligation to close set forth in Section 4.1 of
     this Agreement has not been fulfilled as of the Closing Date;

                    (iii)     at the election of Buyer or Seller if, prior to
     the Closing, the other has breached any material representation, warranty,
     covenant or agreement contained in this Agreement;

                    (iv)      at the election of Buyer, if any legal proceeding
     is commenced or threatened by any governmental agency or other person
     directed against the consummation of the Closing or any other material
     transaction contemplated under this Agreement or the other Transaction
     Documents and the Buyer, on the advice of legal counsel, reasonably and in
     good faith deems it impractical or inadvisable to proceed in view of such
     legal proceeding or threat thereof;

                    (v)       at any time on or prior to the Closing Date, by
     mutual written consent of Seller and Buyer; or

                    (vi)      by any party after the Termination Date, unless
     the Termination Date has been extended by the mutual written consent of
     Seller and Buyer.

          (b)  If any party terminates this Agreement pursuant to this Section
6.13(a), all rights and obligations of the parties hereunder shall terminate
without any liability of any party hereto to any other party (except for any
liability of any party then in breach).

                                       14
<PAGE>

     IN WITNESS WHEREOF, the undersigned have executed this Securities Purchase
Agreement as of the date first written above.

                              EARTHWEB INC.

                              By:________________________
                                 Name:  Murray Hidary
                                 Title: Executive Vice President

                              SELLER:

                              ___________________________
                              Jeff Adkisson
                              ADDRESS: __________________
                                       __________________
                                       __________________

                                       15
<PAGE>

                                   EXHIBIT A

*** CONFIDENTIAL TREATMENT REQUESTED 6

<PAGE>

                                   Exhibit B

                             Employment Agreement
<PAGE>

                                   Exhibit C
<PAGE>

                                                                  EXECUTION COPY

                       OPTION HOLDER PURCHASE AGREEMENT

     This Option Holder Purchase Agreement (this "Agreement") is made this 13th
day of January, 2000, by and between EarthWeb Inc., a Delaware corporation
("Buyer"), and Scott Hall ("Seller").

                               R E C I T A L S:

     WHEREAS, Buyer desires to purchase, and Seller desires to sell, assign and
transfer to Buyer all of the capital stock in Measure Up, Inc. ("Target") which
Seller owns (which amount of shares is set forth on Exhibit A to this Agreement)
or in which Seller has an interest (through options or otherwise), all on the
terms and subject to the conditions hereinafter set forth as part of that
certain Securities Purchase Agreement dated January 13, 2000, by and between
Buyer, Target, Kevin R. Brice and Robert M. M. Holtackers (the "Purchase
Agreement"). All of the securities or interests in securities of Target, which
are to be purchased by Buyer pursuant to this Agreement, are collectively
referred to hereinafter as the "Securities."

     NOW, THEREFORE, in consideration of the foregoing premises and the mutual
promises, agreements, representations, warranties and covenants herein
contained, the parties hereby agree as follows:

                                   SECTION 1

                                    Closing

     1.1.  Closing Date.  The closing (the "Closing") of the transactions
           ------------
contemplated hereby shall be held at the offices of counsel to Buyer, Morrison &
Foerster LLP, 1290 Avenue of the Americas, 40th Floor, New York, New York 10104-
0050 and shall take place no later than sixty (60) days from the date of this
Agreement (the "Termination Date") or such other date and place as may be
mutually agreed upon by the parties (the "Closing Date").

     1.2.  Purchase and Sale of Securities.  On the terms and subject to the
           -------------------------------
conditions herein set forth, Buyer shall purchase from Seller all of the
Securities, as of the Closing Date.

     1.3.  Method of Conveyance.
           --------------------

           (a) The sale, transfer, conveyance, assignment and delivery by Seller
of the Securities to Buyer shall be effected on the Closing Date by the delivery
of the Securities and execution of customary stock powers, duly guaranteed, and
other appropriate documents by Seller, as appropriate (collectively, the
"Instruments of Conveyance"), to Buyer.

           (b) At the Closing, good and valid title to all of the Securities
shall be transferred, conveyed, assigned and delivered by Seller to Buyer
pursuant to this Agreement and the

                                       1
<PAGE>

Instruments of Conveyance, free and clear of any and all Liens (as defined
below). For the purposes of this Agreement, the term "Lien" shall mean any
pledge, security interest, encumbrance, lien or charge of any kind whatsoever.

     1.4.  Purchase Price.
           --------------

     The aggregate purchase price for the Securities (the "Purchase Price") is
up to a dollar amount determined by multiplying Twenty Five Million Dollars
($25,000,000) by the percentage ownership by Seller of the Target on a fully
diluted basis (as set forth in Exhibit A hereto; the percentage ownership by
Seller of the Target on a fully diluted basis is referred to herein as the
"Seller Percentage"):

           (a) at the Closing, Buyer shall pay to Seller in cash, the product of
(i) Four Million Dollars ($4,000,000) multiplied by (ii) the Seller Percentage
(the "Closing Date Cash Payment");

           (b) at the Closing, Buyer shall deliver to Seller the Seller
Percentage of registered shares of Buyer's common stock, $.01 par value ("Buyer
Common Stock"), having an aggregate value of Six Million Dollars ($6,000,000)
(the "Closing Date Block of Buyer Common Stock") multiplied by the Seller
Percentage, such number of shares to be determined by taking the average of the
closing prices of Buyer Common Stock on the Nasdaq National Market (the "Average
Price") during the five (5) trading days immediately preceding the Closing Date
and dividing such Average Price into $6,000,000 (the "Closing Price") (provided,
                                                                       --------
however, that instead of delivering to Seller shares of Buyer Common Stock
-------
having an aggregate value of $6,000,000 multiplied by the Seller Percentage,
Buyer may pay Seller all or part of such amount in cash);

           (c) upon the three-month anniversary of the Closing Date (the "Three-
Month Anniversary Date"), Buyer shall pay to Seller in cash, the product of (i)
Two Million Five Hundred Thousand Dollars ($2,500,000) multiplied by (ii) the
Seller Percentage;

           (d) upon the six-month anniversary of the Closing Date (the "Six-
Month Anniversary Date"), Buyer shall pay to Seller in cash, the product of (i)
Two Million Five Hundred Thousand Dollars ($2,500,000) multiplied by (ii) the
Seller Percentage;

*** CONFIDENTIAL TREATMENT REQUESTED 7

           (e) if the Year One Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the one-year anniversary of the Closing Date (the
"One-Year Anniversary Date") Buyer shall pay to Seller, in cash, an amount equal
to the product of (i) the Seller Percentage and (ii) $*** (such product,
the "Year One Earn-out Amount"). Notwithstanding the foregoing, if only $***
of the Year One Earn-out Threshold has been achieved, then Seller shall receive
25% of the Year One Earn-out Amount, but to be paid in the same manner as the
Year One Earn-out Amount; provided further, to the extent that between $***
and $*** of the Year One Earn-out Threshold has been achieved, then Seller
shall receive 25% of the Year One Earn-out Amount plus an amount equal to the
product of (i) 75% of the Year One Earn-out Amount and (ii) a fraction the
numerator of which is the amount by which Invoiced Revenues (as defined herein)
exceeds $*** and the denominator of which is ***; in any case, to be paid in
the same manner as the Year One Earn-out

                                       2
<PAGE>

Amount; provided further, to the extent Target produces an Integrated Assessment
Product (as defined herein) (i) on or prior to June 30, 2000, the Seller shall
be entitled to receive the entire amount of the Year One Earn-out Amount it is
entitled to receive under the terms of this paragraph, (ii) after June 30, 2000
but on or prior to September 1, 2000, then Seller shall be entitled to receive
only 85% of the Year One Earn-out Amount it is entitled to receive under the
terms of this paragraph, (iii) after September 1, 2000, then Seller shall be
entitled to receive only 80% of the Year One Earn-out Amount it is entitled to
receive under the terms of this paragraph;

*** CONFIDENTIAL TREATMENT REQUESTED 8

           (f) if the Year Two Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the two-year anniversary of the Closing Date (the
"Two-Year Anniversary Date") Buyer shall pay to Seller, in cash, an amount equal
to the product of (i) the Seller Percentage and (ii) $*** (such product, the
"Year Two Earn-out Amount"). Notwithstanding the foregoing, if only $***, the
Year Two Earn-out Threshold has been achieved, then Seller shall receive 25% of
the Year Two Earn-out Amount, but to be paid in the same manner as the Year Two
Earn-out Amount; provided further, to the extent that between $*** and $*** of
the Year Two Earn-out Threshold has been achieved, then Seller shall receive 25%
of the Year Two Earn-out Amount plus an amount equal to the product of (i) 75%
of the Year Two Earn-out Amount and (ii) a fraction the numerator of which is
the amount by which Invoiced Revenues (as defined herein) exceeds $*** and the
denominator of which is $***; in any case, to be paid in the same manner as the
Year Two Earn-out Amount; and

*** CONFIDENTIAL TREATMENT REQUESTED 9

           (g) if the Year Three Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the three-year anniversary of the Closing Date (the
"Three-Year Anniversary Date") Buyer shall pay to Seller, in cash, the an amount
equal to the product of (i) the Seller Percentage and (ii) $*** (such product,
the "Year Three Earn-out Amount"). Notwithstanding the foregoing, if only $***
of the Year Three Earn-out Threshold has been achieved, then Seller shall
receive 25% of the Year Three Earn-out Amount, but to be paid in the same manner
as the Year Three Earn-out Amount; provided further, to the extent that between
$*** and $*** of the Year Three Earn-out Threshold has been achieved, then
Seller shall receive 25% of the Year Three Earn-out Amount plus an amount equal
to the product of (i) 75% of the Year Three Earn-out Amount and (ii) a fraction
the numerator of which is the amount by which Invoiced Revenues (as defined
herein) exceeds $*** and the denominator of which is ***; in any case, to be
paid in the same manner as the Year Three Earn-out Amount.

     1.5.  Method of Payment.  Except as otherwise expressly provided herein,
           -----------------
all cash payments from one party to another under this Agreement shall be made
by check or wire transfer in United States dollars to an address designated in
writing by the party to receive such payment. To the extent that any payment of
cash is scheduled to be made on an anniversary date of the Closing Date which is
not a Business Day (as defined in Section 6.12), then such payment or delivery
will be made on the Business Day immediately following such anniversary date.

     1.6.  Contingent Consideration and Post-Closing Consideration.
           -------------------------------------------------------

           (a) The consideration described in clauses 1.4(c), (d), (e), (f) and
(g) shall collectively be referred to herein as the "Post-Closing Consideration"
and the consideration

                                       3
<PAGE>

described in clauses 1.4(e), (f) and (g) shall collectively be referred to
herein as the "Contingent Consideration".

*** CONFIDENTIAL TREATMENT REQUESTED 10

           (b) ***

           (c) [RESERVED]

           (d) To the extent required by applicable Tax laws, the Post-Closing
Consideration shall be treated as interest (or original issue discount) for Tax
purposes.  For purposes of this Agreement, "Tax" or "Taxes" shall mean any
federal, state, local or foreign income, gross receipts, license, payroll,
employment, excise, severance, stamp, occupation, premium, windfall profits,
environmental, customs duties, capital stock, property, franchise, profits,
withholding, social security (or similar), sales, use, transfer, registration,
value added, alternative or add-on minimum, estimated or other tax of any kind
whatsoever, including any interest, penalty or addition thereto, imposed by any
United States federal, state or local taxing Authority, or any foreign taxing
Authority.

     1.7.  Conditions for Delivery of Contingent Consideration.
           ---------------------------------------------------

           (a) For the purpose of computing the Contingent Consideration, Buyer
may be obligated to pay Seller:

           (i)   "Organic Business" shall refer to the business of the Target as
     conducted as of the date hereof and other related web-based business or
     certification and assessment business.

           (ii)  "Acquired Business" shall refer to any of Buyer's acquisitions
     completed after the Closing Date of businesses substantially similar to the
     Organic Business or assets of a business substantially similar to the
     Organic Business; provided, however, this shall not include any revenues
     generated by All Rossi, Inc. d/b/a CCPrep ("CCPrep") either on or via its
     website or other on-line activities.

           (iii) "Organic Revenues" shall mean the Target's revenues from the
     conduct of the Organic Business as reflected in the September 1999
     Financial Statements plus revenues generated by CCPrep either on or via its
     website or other on-line activities excluding revenues derived from any on-
     line banner advertising.

           (iv)  "Acquired Revenues" shall mean any amount of revenue directly
     attributable to an Acquired Business for a given fiscal year in excess of
     an amount of revenue for such Acquired Business determined by multiplying
     (A) the revenues for such Acquired Business for the two (2) full calendar
     months immediately preceding the

                                       4
<PAGE>

     consummation of the acquisition of such Acquired Business by (B) six (6).

           (v)    "GAAP Revenue Recognition Period" shall mean the period of
     time over which revenue is recognized in accordance with GAAP. This period
     is currently nine months and, notwithstanding any changes to the duration
     of such period in accordance with GAAP after the date hereof, the
     calculation of the Contingent Consideration hereunder shall not be affected
     by such changes.

           (vi)   "Invoiced Revenue" shall mean Organic Revenue not adjusted for
     revenue recognized for the GAAP Revenue Revenue Period plus Acquired
     Revenues, but net of returns of product, as well as allowances and write-
     offs of uncollectible receivables (other than uncollectible receivables
     written off in the ordinary course of business).  Invoiced Revenue shall
     not be adjusted for the GAAP Revenue Recognition Period.

     *** CONFIDENTIAL TREATMENT REQUESTED 11

           (vii)  "Year One Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2000.

     *** CONFIDENTIAL TREATMENT REQUESTED 12

           (viii) "Year Two Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2001.

     *** CONFIDENTIAL TREATMENT REQUESTED 13

           (ix)   "Year Three Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2002.

           (x)    "Integrated Assessment Product" shall refer to the successful
     development and implementation of an integrated assessment product by Kevin
     Brice in cooperation with EW Career Solutions, Inc. ("EW"), a subsidiary of
     Buyer that operates the Dice.com business, utilizing adaptive learning
     technologies to assess the skill level of the test taker and which shall be
     integrated into the EW system.  The subject areas for which this product
     shall be developed are identified on Exhibit C hereto.

           (b)  Each payment of Contingent Consideration required to be paid
pursuant to the terms of this Agreement shall be paid by Buyer to the Seller as
promptly as practicable following the first business day of April following the
applicable measurement period for the Invoiced Revenues (which shall be not
later than the fifth business day of April).

           (c)  In the event that Buyer sells all or substantially all of the
Organic Business, then Buyer shall ensure that all of its obligations hereunder
with respect to the payment of Contingent Consideration shall be assumed in all
material respects to the acquiror of such Organic Business.

           (d)  Buyer shall operate the Organic Business from and after the
Closing Date in the ordinary course of business.

     1.8.  Withholding for Options.  Buyer and Seller agree that all
           -----------------------
withholding, if any, will be made with respect to the Securities.

                                       5
<PAGE>

                                   SECTION 2

              Individual Representations and Warranties of Seller

     Seller represents and warrants to Buyer as of the date of this Agreement as
follows:

     2.1.  Capital Stock.  Seller is the owner, beneficially and of record, of
           -------------
the Securities set forth opposite such person's name on Exhibit A hereto.  The
Securities will not be subject to any liens or restrictions on transfer, other
than restrictions imposed by applicable securities laws and, upon the transfer
of the Securities to Buyer, Buyer will obtain good and marketable title to the
Securities, free and clear of all liens, claims and encumbrances of any kind.
At the Closing Date, other than the affirmative obligation of Seller to exercise
its options and convert them into shares of capital stock of Target, there will
be no authorized or outstanding option, subscription, warrant, call, right,
commitment or other agreement obligating Seller to issue or transfer any of its
Securities.  Seller is not a party to any voting trust, proxy or other agreement
or understanding with respect to the Securities.

     2.2.  Authorization; Consents; Enforceability.
           ---------------------------------------

           (a)  This Agreement and the Transaction Documents to which Seller is
a party or a signatory, have been duly authorized, executed and delivered by
Seller and constitute the legal, valid and binding obligation of Seller
enforceable in accordance with their respective terms subject to applicable
bankruptcy, insolvency and similar laws affecting creditors' rights generally
and to general principles of equity.

           (b)  No Consent is required to be obtained by Seller from, and no
notice or filing is required to be given by, Seller to or made by Seller with,
any Governmental Authority or other person in connection with the execution,
delivery and performance by Seller of this Agreement.

           (c)  The execution and delivery by Seller of this Agreement and the
Transaction Documents to which it is a party do not, and the consummation by
Seller of the transactions contemplated hereby or thereby will not (i) violate
or conflict with, or result (with the giving of notice or lapse of time or both)
in a violation of or constitute a default (or give rise to any right of
termination, cancellation or acceleration) under any of the terms, conditions or
provisions of any note, agreement or other instrument or obligation to which
Seller is a party or by which any of its assets may be bound, except for such
violations or defaults (or rights of termination, cancellation or acceleration)
as to which requisite waivers or consents have been obtained or (iii) violate
any order, writ, injunction, decree, statute, rule or regulation applicable to
Seller or any of its assets.

     2.3.  Litigation.  There is no litigation, action, claim, proceeding or
           ----------
governmental investigation pending or, to the knowledge of Seller, threatened
against Seller which may affect Seller's ability to perform his obligations
under this Agreement.

                                   SECTION 3

                    Representations and Warranties of Buyer

     Buyer represents and warrants to Seller as follows:

                                       6
<PAGE>

     3.1.  Requisite Power.  Buyer has all requisite corporate power to execute
           ---------------
and deliver this Agreement and to carry out and perform its obligations under
the terms of this Agreement and the Transaction Documents to which it is a
party.

     3.2.  Authorization.  All action on the part of Buyer necessary for the
           -------------
authorization, execution, delivery and performance of this Agreement and the
Transaction Documents to which it is a party has been taken and remains in full
force and effect.  This Agreement constitutes, and the Transaction Documents to
which Buyer is a party will each constitute, the valid and binding obligation of
Buyer enforceable against Buyer in accordance with its terms.

     3.3.  No Conflict.  The execution, delivery and performance of this
           -----------
Agreement and any of the Transaction Documents to which it is a party by Buyer
have not resulted and will not result in, nor will consummation of the
transactions contemplated hereby or thereby result in, any violation of, or
conflict with, or constitute a default under, any of its charter documents, or
result in any material violation of, or conflict with, or constitute a default
under, any of its material agreements; and there exists no such violation or
default that does or could materially and adversely affect the ability of Buyer
to consummate its obligations hereunder.

     3.4.  Governmental Consents, etc.  No consent, approval or authorization of
           ---------------------------
or designation, declaration, or filing with any Authority on the part of Buyer
is required in connection with the valid execution and delivery of this
Agreement or any Transaction Document to which it is a party or the consummation
of the transactions contemplated thereby or thereby.

     3.5.  Brokers or Finders.  Buyer has not incurred, and will not incur,
           ------------------
directly or indirectly, any liability for brokerage or finders' fees or agents'
commissions or any similar charges in connection with this Agreement or any
transaction contemplated hereby.

     3.6.  Organization and Qualification.  Buyer is a corporation duly
           ------------------------------
organized, validly existing and in good standing under the laws of the State of
Delaware and has the corporate power to carry on its business as it is now being
conducted or currently proposed to be conducted and is qualified to do business
in each jurisdiction where such qualification is required except where the
failure to be so qualified would not have a material adverse effect.

     3.7.  Validity of Shares to be Issued.  The issuance of the shares of
           -------------------------------
Buyer Common Stock to Seller under this Agreement has been duly authorized by
all necessary corporate action, and, upon issuance in accordance with the terms
of this Agreement, will be validly issued, fully paid and nonassessable and
issued free of pre-emptive rights.

     3.8.  No Brokers or Finders.  No Person is or will be entitled to receive
           ---------------------
from Seller any brokers', finders' or similar fee or commission in connection
with the transaction contemplated by Agreement on account of services rendered
to Buyer.

     3.9.  Reports.  Buyer has made available to Seller true and complete copies
           -------
of the Shelf Registration Statement (as defined below) and any other reports or
registration statements filed by Buyer with the Securities Exchange Commission
("Commission") since November 1999, except for preliminary material, which are
all the documents that Buyer was required to file with the Commission since that
date (collectively, the "Buyer SEC Reports").  As of their respective

                                       7
<PAGE>

dates, the Buyer SEC Reports complied as to form in all material respects with
the requirements of the Securities Act or the Securities Exchange Act of 1934,
as amended (the "Securities Exchange Act"), as the case may be, and the rules
and regulations of the Commission thereunder applicable to the Buyer SEC
Reports. As of their respective dates, the Buyer SEC Reports did not contain any
untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading.

     3.10. Effectiveness of Registration of Buyer Stock.  All of the registered
           --------------------------------------------
Buyer Stock contemplated to by issued by Buyer pursuant to Section 1.5 of this
Agreement has been duly registered under the Securities Act of 1933, as amended
(the "Securities Act"), pursuant to the registration statement filed November
22, 1999 of Buyer on Form S-4 under the Securities Act pursuant to Rule 415
under the Securities Act (the "Shelf Registration Statement").  The Shelf
Registration Statement became effective on December 14, 1999 and remains
effective as of the date hereof.

                                   SECTION 4

                                    Closing

     4.1.  Conditions to Obligation of Buyer.  The obligation of Buyer to
           ---------------------------------
consummate the transactions to be performed by it in connection with the Closing
is subject to satisfaction of the following conditions;

           (a) the representations and warranties set forth in Section 2 above
shall be true and correct in all material respects at and as of the Closing
Date;

           (b) Seller shall have provided evidence reasonably satisfactory to
Buyer's counsel that prior to the Closing Date, Seller has exercised all of its
outstanding options of Target and converted such options into shares of capital
stock of Target;

           (c) the exercise price to be paid by Seller in respect of the options
has been paid to the Target and all options held by Seller have been converted
into shares of common stock of the Target;

           (d) no action, suit, or proceeding is pending before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction or before any arbitrator wherein an unfavorable injunction,
judgment, order, decree, ruling or charge would (A) prevent consummation of any
of the transactions contemplated by this Agreement, (B) cause any of the
transactions contemplated by this Agreement to be rescinded following
consummation or (C) affect adversely the right of Buyer to acquire the
Securities (and no such injunction, judgment, order, decree, ruling or charge
shall be in effect);

           (e) Seller shall have delivered to Buyer a certificate signed by
Seller to the effect that each of the conditions specified above in Section
4.1(a) through (c) is true in all respects;

           (f) Buyer shall have received, from or on behalf of Seller or other
applicable party, delivery of all the Closing Documents listed in Section 4.3
below;

                                       8
<PAGE>

           (g) the closing of the transactions contemplated by the Purchase
Agreement shall be occurring; and

           (h) all actions to be taken by Seller in connection with consummation
of the transactions contemplated hereby and by the other Transaction Documents
and all certificates, opinions, instruments and other documents required to
effect the transactions contemplated hereby and thereby will be reasonably
satisfactory in form and substance to Buyer.

               Buyer may waive any condition specified in this Section 4.1 if it
executes a writing so stating at the Closing.

     4.2.  Conditions to Obligations of Seller.  The obligations of Seller to
           -----------------------------------
consummate the transactions to be performed by them in connection with the
Closing is subject to satisfaction of the following conditions:

           (a) the representations and warranties set forth in Section 3 above
shall be true and correct in all material respects at and as of the Closing
Date;

           (b) no action, suit, or proceeding is pending before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction or before any arbitrator wherein an unfavorable injunction,
judgment, order, decree, ruling or charge would (A) prevent consummation of any
of the transactions contemplated by this Agreement or (B) cause any of the
transactions contemplated by this Agreement to be rescinded following
consummation (and no such injunction, judgment, order, decree, ruling or charge
shall be in effect);

           (c) Seller shall have received from Buyer all of the Closing
Documents listed in Section 4.4 below;

           (d) the closing of the transactions contemplated by the Purchase
Agreement shall be occurring; and

           (e) Buyer shall have delivered to Seller a certificate signed by an
executive officer of Buyer to the effect that each of the conditions specified
above in Section 4.2(a) through (c) is true in all respects.

               Seller may waive any condition specified in this Section 4.2 if
it executes a writing so stating at the Closing.

     4.3.  Seller Deliveries.  Simultaneously with the Closing of the
           -----------------
transactions contemplated by this Agreement, the following documents shall be
executed and/or delivered by Seller to Buyer:

           (a) the certificates representing Target's options, together with
stock powers executed in blank and any certificates or documents representing
the Target options;

           (b) a release signed by Seller, of rights to options of Target set
forth on Exhibit A hereto

                                       9
<PAGE>

           (c) the Employment Agreement between Seller and Buyer in
substantially the form annexed hereto as Exhibit B (the "Employment Agreement");
and

           (d) the other Transaction Documents.

     4.4.  Buyer Deliveries. Simultaneously with the Closing of the transactions
           ----------------
contemplated by this Agreement, the following documents or items shall be
executed and/or delivered by Buyer to Seller or other applicable party:

           (a) the Employment Agreement;

           (b) the Closing Date Cash Payment; and

           (c) the Closing Date Block of Buyer Common Stock.

                                   SECTION 5

                                   Covenants

     5.1.  Covenants Pending Closing.
           -------------------------

           (a) Each party shall cooperate in obtaining all required consents,
audits, and completion of other transactions contemplated to have occurred as of
the Closing and to use best efforts to cause the fulfillment of the conditions
to the other party's obligation to consummate the transactions contemplated
hereby. In that regard, Seller shall have the affirmative obligation to exercise
its options of Target prior to the Closing Date and pay the exercise price per
share in connection therewith.

           (b) Each party will give to the other prompt written notice of any
material adverse change in any fact or circumstance respecting which a
representation, warranty, covenant or agreement has been made by it herein.

     5.2.  Post-Closing Covenants.
           ----------------------

           (a) From and after the Closing, Seller shall execute all such
instruments or documents and take all such other actions as Buyer may reasonably
request to effectuate the transactions contemplated hereby, including, without
limitation obtaining of any necessary or advisable consents not required by
Buyer prior to Closing in connection with the transactions contemplated hereby.

           (b) Seller shall indemnify (pro rata, based on the Purchase Price
receivable by each party comprising Seller), defend and hold harmless Buyer, its
officers, directors, employees, partners, members, shareholders, Affiliates (and
their officers, directors, employees, members, partners and shareholders) and
agents (collectively, the "Buyer Indemnified Parties") from and against any
action, loss, liability, damage, claim, fine, penalty, lien or expense,
including reasonable legal costs, attorneys' fees and expenses (collectively,
"Buyer Loss"), to the extent the same arises out of any breach by Seller of any
representation, warranty, agreement or covenant made by Seller herein or in any
Transaction Document.

                                       10
<PAGE>

           (c) Buyer shall indemnify, defend and hold harmless Seller from and
against any action, loss, liability, damage, claim, fine, penalty, lien,
interest or expense, including without limitation, reasonable legal costs,
attorneys' fees and expenses (collectively, "Seller Loss"), to the extent the
same arises out of breach by Buyer of any representation, warranty, agreement or
covenant made by Buyer herein or in any Transaction Document.

           (d) Seller hereby agrees that it will sell shares of Buyer Common
Stock only in compliance with applicable federal and state securities laws.

                                   SECTION 6

                                 Miscellaneous

     6.1.  Governing Law.  This Agreement shall be governed in all respects by
           -------------
the laws of the State of New York, without giving effect to any choice or
conflict of law provision or rule (whether of the State of New York or any other
jurisdiction that would cause the application of the laws of any jurisdiction
other that the State of New York).

     6.2.  Survival.  The representations and warranties made herein shall
           --------
survive any investigation made by the parties and the Closing of the
transactions contemplated hereby.  Except as expressly provided otherwise
herein, the covenants and agreements made herein shall survive the Closing of
the transactions contemplated hereby for a period of 18 months from the Closing
Date; provided, that, notwithstanding the foregoing, the representations and
      --------  ----
warranties set forth in Section 2.1 and Section 2.2(a) in their entirety shall
survive forever; provided, further, that notwithstanding anything to the
                 --------  -------
contrary contained in this Agreement, with respect to any claim of intentional
fraud on the part of Seller, Seller will not have the benefit of any of the
limitations of this Section 6.2.

     6.3.  Successors and Assigns.  Except as otherwise provided herein, the
           ----------------------
provisions hereof shall inure to the benefit of, and be binding upon, the
successors, assigns, heirs, executors and administrators of the parties hereto.
No party may assign any of its rights or obligations hereunder without the
express written consent of the other party hereto, which consent may not be
unreasonably withheld; provided, however, any party may assign any and all of
                       --------  -------
its rights and interests hereunder to one or more of its affiliates and
designate one or more of its affiliates to perform its obligations hereunder;
provided, however, that such party remains liable for full and total performance
of its obligations hereunder.

     6.4.  Notices.  Any notices authorized to be given hereunder shall be in
           -------
writing and deemed given, if delivered personally or by overnight courier, on
the date of delivery, if a Business Day, or if not a Business Day, on the first
Business Day following delivery, or if mailed, three days after mailing by
registered or certified mail, return receipt requested, and in each case,
addressed, as follows:

                                       11
<PAGE>

          If to Buyer:

          EarthWeb Inc.
          Three Park Avenue, 38th Floor
          New York, NY 10016
          Facsimile: (212) 725-6559
          Attention: Jack D. Hidary, President

          and a copy to:

          John Hempill, Esq.
          Morrison & Foerster LLP
          1290 Avenue of the Americas
          New York, NY 10104-0185
          Facsimile: (212) 468-7900

          If to Seller:

          At the address set forth under Seller's name and signature on the
          signature page hereto.

          and a copy to:

          Brian T. Casey, Esq.

          Morris, Manning & Martin, LLP
          1600 Atlanta Financial Center
          Atlanta, Georgia 30326
          Facsimile: (404) 365-9532

or if delivered by telecopier, on a Business Day before 4:00 PM local time of
addressee, on transmission confirmed electronically, or if at any other time or
day on the first Business Day succeeding transmission confirmed electronically,
to the facsimile numbers provided above, or to such other address or telecopy
number as any party shall specify to the other, pursuant to the foregoing notice
provisions.

     6.5.  Waiver; Amendments.  This Agreement and the Transaction Documents,
           ------------------
(i) set forth the entire agreement of the parties respecting the subject matter
hereof, (ii) supersede any prior and contemporaneous understandings, agreements,
or representations by or among the parties, written or oral, to the extent they
related in any way to the subject matter hereof and (iii) may not be amended
orally, and no right or obligation of any party may be altered, except as
expressly set forth in a writing signed by such party.

     6.6.  Counterparts.  This Agreement may be signed in several counterparts.
           ------------

     6.7.  Expenses.  Each party shall bear its own expenses incurred with
           --------
respect to the preparation of this Agreement and the consummation of the
transactions contemplated hereby.

                                       12
<PAGE>

     6.8.  Arbitration.
           -----------

           (a) If at any time there shall be a dispute arising out of or
relating to any provision of this Agreement, any Transaction Document or any
agreement contemplated hereby or thereby, such dispute shall be submitted for
binding and final determination by arbitration in accordance with the
regulations then obtaining of the American Arbitration Association. Judgment
upon the award rendered by the arbitrator(s) resulting from such arbitration
shall be in writing, and shall be final and binding upon all involved parties.
The site of any arbitration shall be within New York City, New York.

           (b) This arbitration clause shall survive the termination of this
Agreement, any Transaction Document and any agreement contemplated hereby or
thereby.

     6.9.  Waiver of Jury Trial; Exemplary Damages.  THE PARTIES HERETO HEREBY
           ---------------------------------------
WAIVE THEIR RIGHTS TO TRIAL BY JURY WITH RESPECT TO ANY DISPUTE ARISING UNDER
THIS AGREEMENT AND ANY TRANSACTION DOCUMENT (OTHER THAN THE EMPLOYMENT
AGREEMENT).  No party shall be awarded punitive or other exemplary damages
respecting any dispute arising under this Agreement or any Transaction Document
contemplated hereby.

     6.10. Attorneys' Fees.  The unsuccessful party to any court or other
           ---------------
proceeding arising out of this Agreement or any Transaction Document that is not
resolved by arbitration under Section 6.8 shall pay to the prevailing party all
attorneys' fees and costs actually incurred by the prevailing party, in addition
to any other relief to which it may be entitled.  Otherwise, attorneys' fees
shall be paid in accordance with the judgment rendered.  As used in this Section
6.10 and elsewhere in this Agreement, "actual attorneys' fees" or "attorneys'
fees actually incurred" means the full and actual cost of any legal services
actually performed in connection with the matter for which such fees are sought,
calculated on the basis of the usual fees charged by the attorneys performing
such services, and shall not be limited to "reasonable attorneys' fees" as the
term may be defined in statutory or decisional Authority.

     6.11. Transaction Documents.  When used in this Agreement, the term
           ---------------------
"Transaction Documents" shall mean this Agreement and the Employment Agreement.

     6.12. Business Day.  When used in this Agreement, the term "Business Day"
           ------------
shall mean a day other than a Saturday, Sunday or a day on which commercial
banks in New York City are generally closed for business.

     6.13. Termination.
           -----------

           (a) This Agreement may be terminated prior to the Closing as follows:

                 (i)   at the election of Seller, if any one or more of the
conditions to its obligation to close set forth in Section 4.2 of this Agreement
has not been fulfilled as of the Closing Date;

                                       13
<PAGE>

                 (ii)  at the election of the Buyer, if any one or more of the
     conditions to its obligation to close set forth in Section 4.1 of this
     Agreement has not been fulfilled as of the Closing Date;

                 (iii) at the election of Buyer or Seller if, prior to the
     Closing, the other has breached any material representation, warranty,
     covenant or agreement contained in this Agreement;

                 (iv)  at the election of Buyer, if any legal proceeding is
     commenced or threatened by any governmental agency or other person directed
     against the consummation of the Closing or any other material transaction
     contemplated under this Agreement or the other Transaction Documents and
     the Buyer, on the advice of legal counsel, reasonably and in good faith
     deems it impractical or inadvisable to proceed in view of such legal
     proceeding or threat thereof;

                 (v)   at any time on or prior to the Closing Date, by mutual
     written consent of Seller and Buyer; or

                 (vi)  by any party after the Termination Date, unless the
     Termination Date has been extended by the mutual written consent of Seller
     and Buyer.

           (b) If any party terminates this Agreement pursuant to this Section
6.13(a), all rights and obligations of the parties hereunder shall terminate
without any liability of any party hereto to any other party (except for any
liability of any party then in breach).

                                       14
<PAGE>

     IN WITNESS WHEREOF, the undersigned have executed this Securities Purchase
Agreement as of the date first written above.

                                        EARTHWEB INC.

                                        By:__________________________________
                                           Name:  Murray Hidary
                                           Title:  Executive Vice President

                                        SELLER:

                                        _____________________________________
                                        Scott Hall
                                        ADDRESS:  ___________________________
                                                  ___________________________
                                                  ___________________________

                                       15
<PAGE>

                                   EXHIBIT A

*** CONFIDENTIAL TREATMENT REQUESTED 14
<PAGE>

                                   Exhibit B

                             Employment Agreement
<PAGE>

                                   Exhibit C
<PAGE>

                                                                  EXECUTION COPY

                       OPTION HOLDER PURCHASE AGREEMENT

     This Option Holder Purchase Agreement (this "Agreement") is made this
13th day of January, 2000, by and between EarthWeb Inc., a Delaware corporation
("Buyer"), and Kenneth B. Williams ("Seller").

                               R E C I T A L S:

     WHEREAS, Buyer desires to purchase, and Seller desires to sell, assign and
transfer to Buyer all of the capital stock in Measure Up, Inc. ("Target") which
Seller owns (which amount of shares is set forth on Exhibit A to this Agreement)
or in which Seller has an interest (through options or otherwise), all on the
terms and subject to the conditions hereinafter set forth as part of that
certain Securities Purchase Agreement dated January 13, 2000, by and between
Buyer, Target, Kevin R. Brice and Robert M. M. Holtackers (the "Purchase
Agreement"). All of the securities or interests in securities of Target, which
are to be purchased by Buyer pursuant to this Agreement, are collectively
referred to hereinafter as the "Securities."

     NOW, THEREFORE, in consideration of the foregoing premises and the mutual
promises, agreements, representations, warranties and covenants herein
contained, the parties hereby agree as follows:

                                   SECTION 1

                                    Closing

     1.1.    Closing Date.  The closing (the "Closing") of the transactions
             ------------
contemplated hereby shall be held at the offices of counsel to Buyer, Morrison &
Foerster LLP, 1290 Avenue of the Americas, 40th Floor, New York, New York 10104-
0050 and shall take place no later than sixty (60) days from the date of this
Agreement (the "Termination Date") or such other date and place as may be
mutually agreed upon by the parties (the "Closing Date").

     1.2.    Purchase and Sale of Securities.  On the terms and subject to the
             -------------------------------
conditions herein set forth, Buyer shall purchase from Seller all of the
Securities, as of the Closing Date.

     1.3.    Method of Conveyance.
             --------------------

             (a) The sale, transfer, conveyance, assignment and delivery by
Seller of the Securities to Buyer shall be effected on the Closing Date by the
delivery of the Securities and execution of customary stock powers, duly
guaranteed, and other appropriate documents by Seller, as appropriate
(collectively, the "Instruments of Conveyance"), to Buyer.

             (b) At the Closing, good and valid title to all of the Securities
shall be transferred, conveyed, assigned and delivered by Seller to Buyer
pursuant to this Agreement and the

                                       1
<PAGE>

Instruments of Conveyance, free and clear of any and all Liens (as defined
below). For the purposes of this Agreement, the term "Lien" shall mean any
pledge, security interest, encumbrance, lien or charge of any kind whatsoever.

     1.4.  Purchase Price.
           --------------

     The aggregate purchase price for the Securities (the "Purchase Price") is
up to a dollar amount determined by multiplying Twenty Five Million Dollars
($25,000,000) by the percentage ownership by Seller of the Target on a fully
diluted basis (as set forth in Exhibit A hereto; the percentage ownership by
Seller of the Target on a fully diluted basis is referred to herein as the
"Seller Percentage"):

           (a) at the Closing, Buyer shall pay to Seller in cash, the product of
(i) Four Million Dollars ($4,000,000) multiplied by (ii) the Seller Percentage
(the "Closing Date Cash Payment");

           (b) at the Closing, Buyer shall deliver to Seller the Seller
Percentage of registered shares of Buyer's common stock, $.01 par value ("Buyer
Common Stock"), having an aggregate value of Six Million Dollars ($6,000,000)
(the "Closing Date Block of Buyer Common Stock") multiplied by the Seller
Percentage, such number of shares to be determined by taking the average of the
closing prices of Buyer Common Stock on the Nasdaq National Market (the "Average
Price") during the five (5) trading days immediately preceding the Closing Date
and dividing such Average Price into $6,000,000 (the "Closing Price") (provided,
                                                                       --------
however, that instead of delivering to Seller shares of Buyer Common Stock
-------
having an aggregate value of $6,000,000 multiplied by the Seller Percentage,
Buyer may pay Seller all or part of such amount in cash);

           (c) upon the three-month anniversary of the Closing Date (the "Three-
Month Anniversary Date"), Buyer shall pay to Seller in cash, the product of (i)
Two Million Five Hundred Thousand Dollars ($2,500,000) multiplied by (ii) the
Seller Percentage;

           (d) upon the six-month anniversary of the Closing Date (the "Six-
Month Anniversary Date"), Buyer shall pay to Seller in cash, the product of (i)
Two Million Five Hundred Thousand Dollars ($2,500,000) multiplied by (ii) the
Seller Percentage;

*** CONFIDENTIAL TREATMENT REQUESTED 15

           (e) if the Year One Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the one-year anniversary of the Closing Date (the
"One-Year Anniversary Date") Buyer shall pay to Seller, in cash, an amount equal
to the product of (i) the Seller Percentage and (ii) $*** (such product, the
"Year One Earn-out Amount"). Notwithstanding the foregoing, if only $*** of the
Year One Earn-out Threshold has been achieved, then Seller shall receive 25% of
the Year One Earn-out Amount, but to be paid in the same manner as the Year One
Earn-out Amount; provided further, to the extent that between $*** and $*** of
the Year One Earn-out Threshold has been achieved, then Seller shall receive 25%
of the Year One Earn-out Amount plus an amount equal to the product of (i) 75%
of the Year One Earn-out Amount and (ii) a fraction the numerator of which is
the amount by which Invoiced Revenues (as defined herein) exceeds $*** and the
denominator of which is ***; in any case, to be paid in the same manner as the
Year One Earn-out

                                       2
<PAGE>

Amount; provided further, to the extent Target produces an Integrated Assessment
Product (as defined herein) (i) on or prior to June 30, 2000, the Seller shall
be entitled to receive the entire amount of the Year One Earn-out Amount it is
entitled to receive under the terms of this paragraph, (ii) after June 30, 2000
but on or prior to September 1, 2000, then Seller shall be entitled to receive
only 85% of the Year One Earn-out Amount it is entitled to receive under the
terms of this paragraph, (iii) after September 1, 2000, then Seller shall be
entitled to receive only 80% of the Year One Earn-out Amount it is entitled to
receive under the terms of this paragraph;

*** CONFIDENTIAL TREATMENT REQUESTED 16

           (f) if the Year Two Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the two-year anniversary of the Closing Date (the
"Two-Year Anniversary Date") Buyer shall pay to Seller, in cash, an amount equal
to the product of (i) the Seller Percentage and (ii) $*** (such product, the
"Year Two Earn-out Amount"). Notwithstanding the foregoing, if only $*** of
the Year Two Earn-out Threshold has been achieved, then Seller shall receive 25%
of the Year Two Earn-out Amount, but to be paid in the same manner as the Year
Two Earn-out Amount; provided further, to the extent that between $*** and $***
of the Year Two Earn-out Threshold has been achieved, then Seller shall receive
25% of the Year Two Earn-out Amount plus an amount equal to the product of (i)
75% of the Year Two Earn-out Amount and (ii) a fraction the numerator of which
is the amount by which Invoiced Revenues (as defined herein) exceeds $*** and
the denominator of which is $***; in any case, to be paid in the same manner as
the Year Two Earn-out Amount; and

*** CONFIDENTIAL TREATMENT REQUESTED 17

           (g) if the Year Three Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the three-year anniversary of the Closing Date (the
"Three-Year Anniversary Date") Buyer shall pay to Seller, in cash, the an amount
equal to the product of (i) the Seller Percentage and (ii) $*** (such product,
the "Year Three Earn-out Amount"). Notwithstanding the foregoing, if only $***
of the Year Three Earn-out Threshold has been achieved, then Seller shall
receive 25% of the Year Three Earn-out Amount, but to be paid in the same manner
as the Year Three Earn-out Amount; provided further, to the extent that between
$*** and $*** of the Year Three Earn-out Threshold has been achieved, then
Seller shall receive 25% of the Year Three Earn-out Amount plus an amount equal
to the product of (i) 75% of the Year Three Earn-out Amount and (ii) a fraction
the numerator of which is the amount by which Invoiced Revenues (as defined
herein) exceeds $*** and the denominator of which is ***; in any case, to be
paid in the same manner as the Year Three Earn-out Amount.

     1.5.  Method of Payment.  Except as otherwise expressly provided herein,
           -----------------
all cash payments from one party to another under this Agreement shall be made
by check or wire transfer in United States dollars to an address designated in
writing by the party to receive such payment. To the extent that any payment of
cash is scheduled to be made on an anniversary date of the Closing Date which is
not a Business Day (as defined in Section 6.12), then such payment or delivery
will be made on the Business Day immediately following such anniversary date.

     1.6.  Contingent Consideration and Post-Closing Consideration.
           -------------------------------------------------------

           (a) The consideration described in clauses 1.4(c), (d), (e), (f) and
(g) shall collectively be referred to herein as the "Post-Closing Consideration"
and the consideration

                                       3
<PAGE>

described in clauses 1.4(e), (f) and (g) shall collectively be referred to
herein as the "Contingent Consideration".

*** CONFIDENTIAL TREATMENT REQUESTED 18

             (b) ***

             (c) [RESERVED]

             (d) To the extent required by applicable Tax laws, the Post-Closing
Consideration shall be treated as interest (or original issue discount) for Tax
purposes.  For purposes of this Agreement, "Tax" or "Taxes" shall mean any
federal, state, local or foreign income, gross receipts, license, payroll,
employment, excise, severance, stamp, occupation, premium, windfall profits,
environmental, customs duties, capital stock, property, franchise, profits,
withholding, social security (or similar), sales, use, transfer, registration,
value added, alternative or add-on minimum, estimated or other tax of any kind
whatsoever, including any interest, penalty or addition thereto, imposed by any
United States federal, state or local taxing Authority, or any foreign taxing
Authority.

     1.7.    Conditions for Delivery of Contingent Consideration.
             ---------------------------------------------------

             (a) For the purpose of computing the Contingent Consideration,
Buyer may be obligated to pay Seller:

             (i)    "Organic Business" shall refer to the business of the Target
     as conducted as of the date hereof and other related web-based business or
     certification and assessment business.

             (ii)   "Acquired Business" shall refer to any of Buyer's
     acquisitions completed after the Closing Date of businesses substantially
     similar to the Organic Business or assets of a business substantially
     similar to the Organic Business; provided, however, this shall not include
     any revenues generated by All Rossi, Inc. d/b/a CCPrep ("CCPrep") either on
     or via its website or other on-line activities.

             (iii)  "Organic Revenues" shall mean the Target's revenues from the
     conduct of the Organic Business as reflected in the September 1999
     Financial Statements plus revenues generated by CCPrep either on or via its
     website or other on-line activities excluding revenues derived from any on-
     line banner advertising.

             (iv)   "Acquired Revenues" shall mean any amount of revenue
     directly attributable to an Acquired Business for a given fiscal year in
     excess of an amount of revenue for such Acquired Business determined by
     multiplying (A) the revenues for such Acquired Business for the two (2)
     full calendar months immediately preceding the

                                       4
<PAGE>

     consummation of the acquisition of such Acquired Business by (B) six (6).

             (v)    "GAAP Revenue Recognition Period" shall mean the period of
     time over which revenue is recognized in accordance with GAAP. This period
     is currently nine months and, notwithstanding any changes to the duration
     of such period in accordance with GAAP after the date hereof, the
     calculation of the Contingent Consideration hereunder shall not be affected
     by such changes.

             (vi)   "Invoiced Revenue" shall mean Organic Revenue not adjusted
     for revenue recognized for the GAAP Revenue Revenue Period plus Acquired
     Revenues, but net of returns of product, as well as allowances and write-
     offs of uncollectible receivables (other than uncollectible receivables
     written off in the ordinary course of business). Invoiced Revenue shall not
     be adjusted for the GAAP Revenue Recognition Period.

     *** CONFIDENTIAL TREATMENT REQUESTED 19

             (vii)  "Year One Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2000.

     *** CONFIDENTIAL TREATMENT REQUESTED 20

             (viii) "Year Two Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2001.

     *** CONFIDENTIAL TREATMENT REQUESTED 21

             (ix)   "Year Three Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2002.

             (x)    "Integrated Assessment Product" shall refer to the
     successful development and implementation of an integrated assessment
     product by Kevin Brice in cooperation with EW Career Solutions, Inc.
     ("EW"), a subsidiary of Buyer that operates the Dice.com business,
     utilizing adaptive learning technologies to assess the skill level of the
     test taker and which shall be integrated into the EW system. The subject
     areas for which this product shall be developed are identified on Exhibit C
     hereto.

             (b) Each payment of Contingent Consideration required to be paid
pursuant to the terms of this Agreement shall be paid by Buyer to the Seller as
promptly as practicable following the first business day of April following the
applicable measurement period for the Invoiced Revenues (which shall be not
later than the fifth business day of April).

             (c) In the event that Buyer sells all or substantially all of the
Organic Business, then Buyer shall ensure that all of its obligations hereunder
with respect to the payment of Contingent Consideration shall be assumed in all
material respects to the acquiror of such Organic Business.

             (d) Buyer shall operate the Organic Business from and after the
Closing Date in the ordinary course of business.

     1.8.    Withholding for Options.  Buyer and Seller agree that all
             -----------------------
withholding, if any, will be made with respect to the Securities.

                                       5
<PAGE>

                                   SECTION 2

              Individual Representations and Warranties of Seller

     Seller represents and warrants to Buyer as of the date of this Agreement as
follows:

     2.1.    Capital Stock.  Seller is the owner, beneficially and of record, of
             -------------
the Securities set forth opposite such person's name on Exhibit A hereto.  The
Securities will not be subject to any liens or restrictions on transfer, other
than restrictions imposed by applicable securities laws and, upon the transfer
of the Securities to Buyer, Buyer will obtain good and marketable title to the
Securities, free and clear of all liens, claims and encumbrances of any kind.
At the Closing Date, other than the affirmative obligation of Seller to exercise
its options and convert them into shares of capital stock of Target, there will
be no authorized or outstanding option, subscription, warrant, call, right,
commitment or other agreement obligating Seller to issue or transfer any of its
Securities.  Seller is not a party to any voting trust, proxy or other agreement
or understanding with respect to the Securities.

     2.2.    Authorization; Consents; Enforceability.
             ---------------------------------------

             (a) This Agreement and the Transaction Documents to which Seller is
a party or a signatory, have been duly authorized, executed and delivered by
Seller and constitute the legal, valid and binding obligation of Seller
enforceable in accordance with their respective terms subject to applicable
bankruptcy, insolvency and similar laws affecting creditors' rights generally
and to general principles of equity.

             (b) No Consent is required to be obtained by Seller from, and no
notice or filing is required to be given by, Seller to or made by Seller with,
any Governmental Authority or other person in connection with the execution,
delivery and performance by Seller of this Agreement.

             (c) The execution and delivery by Seller of this Agreement and the
Transaction Documents to which it is a party do not, and the consummation by
Seller of the transactions contemplated hereby or thereby will not (i) violate
or conflict with, or result (with the giving of notice or lapse of time or both)
in a violation of or constitute a default (or give rise to any right of
termination, cancellation or acceleration) under any of the terms, conditions or
provisions of any note, agreement or other instrument or obligation to which
Seller is a party or by which any of its assets may be bound, except for such
violations or defaults (or rights of termination, cancellation or acceleration)
as to which requisite waivers or consents have been obtained or (iii) violate
any order, writ, injunction, decree, statute, rule or regulation applicable to
Seller or any of its assets.

     2.3.    Litigation.  There is no litigation, action, claim, proceeding or
             ----------
governmental investigation pending or, to the knowledge of Seller, threatened
against Seller which may affect Seller's ability to perform his obligations
under this Agreement.

                                   SECTION 3

                    Representations and Warranties of Buyer

     Buyer represents and warrants to Seller as follows:

                                       6
<PAGE>

     3.1.    Requisite Power.  Buyer has all requisite corporate power to
             ---------------
execute and deliver this Agreement and to carry out and perform its obligations
under the terms of this Agreement and the Transaction Documents to which it is a
party.

     3.2.    Authorization.  All action on the part of Buyer necessary for the
             -------------
authorization, execution, delivery and performance of this Agreement and the
Transaction Documents to which it is a party has been taken and remains in full
force and effect.  This Agreement constitutes, and the Transaction Documents to
which Buyer is a party will each constitute, the valid and binding obligation of
Buyer enforceable against Buyer in accordance with its terms.

     3.3.    No Conflict.  The execution, delivery and performance of this
             -----------
Agreement and any of the Transaction Documents to which it is a party by Buyer
have not resulted and will not result in, nor will consummation of the
transactions contemplated hereby or thereby result in, any violation of, or
conflict with, or constitute a default under, any of its charter documents, or
result in any material violation of, or conflict with, or constitute a default
under, any of its material agreements; and there exists no such violation or
default that does or could materially and adversely affect the ability of Buyer
to consummate its obligations hereunder.

     3.4.    Governmental Consents, etc.  No consent, approval or authorization
             ---------------------------
of or designation, declaration, or filing with any Authority on the part of
Buyer is required in connection with the valid execution and delivery of this
Agreement or any Transaction Document to which it is a party or the consummation
of the transactions contemplated thereby or thereby.

     3.5.    Brokers or Finders.  Buyer has not incurred, and will not incur,
             ------------------
directly or indirectly, any liability for brokerage or finders' fees or agents'
commissions or any similar charges in connection with this Agreement or any
transaction contemplated hereby.

     3.6.    Organization and Qualification.  Buyer is a corporation duly
             ------------------------------
organized, validly existing and in good standing under the laws of the State of
Delaware and has the corporate power to carry on its business as it is now being
conducted or currently proposed to be conducted and is qualified to do business
in each jurisdiction where such qualification is required except where the
failure to be so qualified would not have a material adverse effect.

     3.7.    Validity of Shares to be Issued.  The issuance of the shares of
             -------------------------------
Buyer Common Stock to Seller under this Agreement has been duly authorized by
all necessary corporate action, and, upon issuance in accordance with the terms
of this Agreement, will be validly issued, fully paid and nonassessable and
issued free of pre-emptive rights.

     3.8.    No Brokers or Finders.  No Person is or will be entitled to receive
             ---------------------
from Seller any brokers', finders' or similar fee or commission in connection
with the transaction contemplated by Agreement on account of services rendered
to Buyer.

     3.9.    Reports.  Buyer has made available to Seller true and complete
             -------
of the Shelf Registration Statement (as defined below) and any other reports or
registration statements filed by Buyer with the Securities Exchange Commission
("Commission") since November 1999, except for preliminary material, which are
all the documents that Buyer was required to file with the Commission since that
date (collectively, the "Buyer SEC Reports").  As of their respective

                                       7
<PAGE>

dates, the Buyer SEC Reports complied as to form in all material respects with
the requirements of the Securities Act or the Securities Exchange Act of 1934,
as amended (the "Securities Exchange Act"), as the case may be, and the rules
and regulations of the Commission thereunder applicable to the Buyer SEC
Reports. As of their respective dates, the Buyer SEC Reports did not contain any
untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading.

     3.10.  Effectiveness of Registration of Buyer Stock.  All of the registered
            --------------------------------------------
Buyer Stock contemplated to by issued by Buyer pursuant to Section 1.5 of this
Agreement has been duly registered under the Securities Act of 1933, as amended
(the "Securities Act"), pursuant to the registration statement filed November
22, 1999 of Buyer on Form S-4 under the Securities Act pursuant to Rule 415
under the Securities Act (the "Shelf Registration Statement").  The Shelf
Registration Statement became effective on December 14, 1999 and remains
effective as of the date hereof.

                                   SECTION 4

                                    Closing

     4.1.    Conditions to Obligation of Buyer.  The obligation of Buyer to
             ---------------------------------
consummate the transactions to be performed by it in connection with the Closing
is subject to satisfaction of the following conditions;

             (a) the representations and warranties set forth in Section 2 above
shall be true and correct in all material respects at and as of the Closing
Date;

             (b) Seller shall have provided evidence reasonably satisfactory to
Buyer's counsel that prior to the Closing Date, Seller has exercised all of its
outstanding options of Target and converted such options into shares of capital
stock of Target;

             (c) the exercise price to be paid by Seller in respect of the
options has been paid to the Target and all options held by Seller have been
converted into shares of common stock of the Target;

             (d) no action, suit, or proceeding is pending before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction or before any arbitrator wherein an unfavorable injunction,
judgment, order, decree, ruling or charge would (A) prevent consummation of any
of the transactions contemplated by this Agreement, (B) cause any of the
transactions contemplated by this Agreement to be rescinded following
consummation or (C) affect adversely the right of Buyer to acquire the
Securities (and no such injunction, judgment, order, decree, ruling or charge
shall be in effect);

             (e) Seller shall have delivered to Buyer a certificate signed by
Seller to the effect that each of the conditions specified above in Section
4.1(a) through (c) is true in all respects;

             (f) Buyer shall have received, from or on behalf of Seller or other
applicable party, delivery of all the Closing Documents listed in Section 4.3
below;

                                       8
<PAGE>

             (g) the closing of the transactions contemplated by the Purchase
Agreement shall be occurring; and

             (h) all actions to be taken by Seller in connection with
consummation of the transactions contemplated hereby and by the other
Transaction Documents and all certificates, opinions, instruments and other
documents required to effect the transactions contemplated hereby and thereby
will be reasonably satisfactory in form and substance to Buyer.

                 Buyer may waive any condition specified in this Section 4.1 if
it executes a writing so stating at the Closing.

     4.2.    Conditions to Obligations of Seller.  The obligations of Seller to
             -----------------------------------
consummate the transactions to be performed by them in connection with the
Closing is subject to satisfaction of the following conditions:

             (a) the representations and warranties set forth in Section 3 above
shall be true and correct in all material respects at and as of the Closing
Date;

             (b) no action, suit, or proceeding is pending before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction or before any arbitrator wherein an unfavorable injunction,
judgment, order, decree, ruling or charge would (A) prevent consummation of any
of the transactions contemplated by this Agreement or (B) cause any of the
transactions contemplated by this Agreement to be rescinded following
consummation (and no such injunction, judgment, order, decree, ruling or charge
shall be in effect);

             (c) Seller shall have received from Buyer all of the Closing
Documents listed in Section 4.4 below;

             (d) the closing of the transactions contemplated by the Purchase
Agreement shall be occurring; and

             (e) Buyer shall have delivered to Seller a certificate signed by an
executive officer of Buyer to the effect that each of the conditions specified
above in Section 4.2(a) through (c) is true in all respects.

                 Seller may waive any condition specified in this Section 4.2 if
it executes a writing so stating at the Closing.

     4.3.    Seller Deliveries.  Simultaneously with the Closing of the
             -----------------
transactions contemplated by this Agreement, the following documents shall be
executed and/or delivered by Seller to Buyer:

             (a) the certificates representing Target's options, together with
stock powers executed in blank and any certificates or documents representing
the Target options;

             (b) a release signed by Seller, of rights to options of Target set
forth on Exhibit A hereto

                                       9
<PAGE>

             (c) the Employment Agreement between Seller and Buyer in
substantially the form annexed hereto as Exhibit B (the "Employment Agreement");
and

             (d) the other Transaction Documents.

     4.4.    Buyer Deliveries.  Simultaneously with the Closing of the
             ----------------
transactions contemplated by this Agreement, the following documents or items
shall be executed and/or delivered by Buyer to Seller or other applicable party:

             (a) the Employment Agreement;

             (b) the Closing Date Cash Payment; and

             (c) the Closing Date Block of Buyer Common Stock.

                                   SECTION 5

                                   Covenants

     5.1.    Covenants Pending Closing.
             -------------------------

             (a) Each party shall cooperate in obtaining all required consents,
audits, and completion of other transactions contemplated to have occurred as of
the Closing and to use best efforts to cause the fulfillment of the conditions
to the other party's obligation to consummate the transactions contemplated
hereby. In that regard, Seller shall have the affirmative obligation to exercise
its options of Target prior to the Closing Date and pay the exercise price per
share in connection therewith.

             (b) Each party will give to the other prompt written notice of any
material adverse change in any fact or circumstance respecting which a
representation, warranty, covenant or agreement has been made by it herein.

     5.2.    Post-Closing Covenants.
             ----------------------

             (a) From and after the Closing, Seller shall execute all such
instruments or documents and take all such other actions as Buyer may reasonably
request to effectuate the transactions contemplated hereby, including, without
limitation obtaining of any necessary or advisable consents not required by
Buyer prior to Closing in connection with the transactions contemplated hereby.

             (b) Seller shall indemnify (pro rata, based on the Purchase Price
receivable by each party comprising Seller), defend and hold harmless Buyer, its
officers, directors, employees, partners, members, shareholders, Affiliates (and
their officers, directors, employees, members, partners and shareholders) and
agents (collectively, the "Buyer Indemnified Parties") from and against any
action, loss, liability, damage, claim, fine, penalty, lien or expense,
including reasonable legal costs, attorneys' fees and expenses (collectively,
"Buyer Loss"), to the extent the same arises out of any breach by Seller of any
representation, warranty, agreement or covenant made by Seller herein or in any
Transaction Document.

                                       10
<PAGE>

             (c) Buyer shall indemnify, defend and hold harmless Seller from and
against any action, loss, liability, damage, claim, fine, penalty, lien,
interest or expense, including without limitation, reasonable legal costs,
attorneys' fees and expenses (collectively, "Seller Loss"), to the extent the
same arises out of breach by Buyer of any representation, warranty, agreement or
covenant made by Buyer herein or in any Transaction Document.

             (d) Seller hereby agrees that it will sell shares of Buyer Common
Stock only in compliance with applicable federal and state securities laws.

                                   SECTION 6

                                 Miscellaneous

     6.1.    Governing Law.  This Agreement shall be governed in all respects by
             -------------
the laws of the State of New York, without giving effect to any choice or
conflict of law provision or rule (whether of the State of New York or any other
jurisdiction that would cause the application of the laws of any jurisdiction
other that the State of New York).

     6.2.    Survival.  The representations and warranties made herein shall
             --------
survive any investigation made by the parties and the Closing of the
transactions contemplated hereby.  Except as expressly provided otherwise
herein, the covenants and agreements made herein shall survive the Closing of
the transactions contemplated hereby for a period of 18 months from the Closing
Date; provided, that, notwithstanding the foregoing, the representations and
      --------  ----
warranties set forth in Section 2.1 and Section 2.2(a) in their entirety shall
survive forever; provided, further, that notwithstanding anything to the
                 --------  -------
contrary contained in this Agreement, with respect to any claim of intentional
fraud on the part of Seller, Seller will not have the benefit of any of the
limitations of this Section 6.2.

     6.3.    Successors and Assigns.  Except as otherwise provided herein, the
             ----------------------
provisions hereof shall inure to the benefit of, and be binding upon, the
successors, assigns, heirs, executors and administrators of the parties hereto.
No party may assign any of its rights or obligations hereunder without the
express written consent of the other party hereto, which consent may not be
unreasonably withheld; provided, however, any party may assign any and all of
                       --------  -------
its rights and interests hereunder to one or more of its affiliates and
designate one or more of its affiliates to perform its obligations hereunder;
provided, however, that such party remains liable for full and total performance
of its obligations hereunder.

     6.4.    Notices.  Any notices authorized to be given hereunder shall be in
             -------
writing and deemed given, if delivered personally or by overnight courier, on
the date of delivery, if a Business Day, or if not a Business Day, on the first
Business Day following delivery, or if mailed, three days after mailing by
registered or certified mail, return receipt requested, and in each case,
addressed, as follows:

                                       11
<PAGE>

             If to Buyer:

             EarthWeb Inc.
             Three Park Avenue, 38th Floor
             New York, NY 10016
             Facsimile:  (212) 725-6559
             Attention:  Jack D. Hidary, President

             and a copy to:

             John Hempill, Esq.
             Morrison & Foerster LLP
             1290 Avenue of the Americas
             New York, NY  10104-0185
             Facsimile: (212) 468-7900

             If to Seller:

             At the address set forth under Seller's name and signature on the
             signature page hereto.

             and a copy to:

             Brian T. Casey, Esq.
             Morris, Manning & Martin, LLP
             1600 Atlanta Financial Center
             Atlanta, Georgia 30326
             Facsimile: (404) 365-9532

or if delivered by telecopier, on a Business Day before 4:00 PM local time of
addressee, on transmission confirmed electronically, or if at any other time or
day on the first Business Day succeeding transmission confirmed electronically,
to the facsimile numbers provided above, or to such other address or telecopy
number as any party shall specify to the other, pursuant to the foregoing notice
provisions.

     6.5.    Waiver; Amendments.  This Agreement and the Transaction Documents,
             ------------------
(i) set forth the entire agreement of the parties respecting the subject matter
hereof, (ii) supersede any prior and contemporaneous understandings, agreements,
or representations by or among the parties, written or oral, to the extent they
related in any way to the subject matter hereof and (iii) may not be amended
orally, and no right or obligation of any party may be altered, except as
expressly set forth in a writing signed by such party.

     6.6.    Counterparts.  This Agreement may be signed in several
             ------------
counterparts.

     6.7.    Expenses.  Each party shall bear its own expenses incurred with
             --------
respect to the preparation of this Agreement and the consummation of the
transactions contemplated hereby.

                                       12
<PAGE>

     6.8.    Arbitration.
             -----------

             (a) If at any time there shall be a dispute arising out of or
relating to any provision of this Agreement, any Transaction Document or any
agreement contemplated hereby or thereby, such dispute shall be submitted for
binding and final determination by arbitration in accordance with the
regulations then obtaining of the American Arbitration Association. Judgment
upon the award rendered by the arbitrator(s) resulting from such arbitration
shall be in writing, and shall be final and binding upon all involved parties.
The site of any arbitration shall be within New York City, New York.

             (b) This arbitration clause shall survive the termination of this
Agreement, any Transaction Document and any agreement contemplated hereby or
thereby.

     6.9.    Waiver of Jury Trial; Exemplary Damages.  THE PARTIES HERETO HEREBY
             ---------------------------------------
WAIVE THEIR RIGHTS TO TRIAL BY JURY WITH RESPECT TO ANY DISPUTE ARISING UNDER
THIS AGREEMENT AND ANY TRANSACTION DOCUMENT (OTHER THAN THE EMPLOYMENT
AGREEMENT).  No party shall be awarded punitive or other exemplary damages
respecting any dispute arising under this Agreement or any Transaction Document
contemplated hereby.

     6.10.   Attorneys' Fees.  The unsuccessful party to any court or other
             ---------------
proceeding arising out of this Agreement or any Transaction Document that is not
resolved by arbitration under Section 6.8 shall pay to the prevailing party all
attorneys' fees and costs actually incurred by the prevailing party, in addition
to any other relief to which it may be entitled.  Otherwise, attorneys' fees
shall be paid in accordance with the judgment rendered.  As used in this Section
6.10 and elsewhere in this Agreement, "actual attorneys' fees" or "attorneys'
fees actually incurred" means the full and actual cost of any legal services
actually performed in connection with the matter for which such fees are sought,
calculated on the basis of the usual fees charged by the attorneys performing
such services, and shall not be limited to "reasonable attorneys' fees" as the
term may be defined in statutory or decisional Authority.

     6.11.   Transaction Documents.  When used in this Agreement, the term
             ---------------------
"Transaction Documents" shall mean this Agreement and the Employment Agreement.

     6.12.   Business Day.  When used in this Agreement, the term "Business Day"
             ------------
shall mean a day other than a Saturday, Sunday or a day on which commercial
banks in New York City are generally closed for business.

     6.13.   Termination.
             -----------

             (a) This Agreement may be terminated prior to the Closing as
follows:

                    (i)    at the election of Seller, if any one or more of the
     conditions to its obligation to close set forth in Section 4.2 of this
     Agreement has not been fulfilled as of the Closing Date;

                                       13
<PAGE>

                    (ii)   at the election of the Buyer, if any one or more of
     the conditions to its obligation to close set forth in Section 4.1 of this
     Agreement has not been fulfilled as of the Closing Date;

                    (iii)  at the election of Buyer or Seller if, prior to the
     Closing, the other has breached any material representation, warranty,
     covenant or agreement contained in this Agreement;

                    (iv)   at the election of Buyer, if any legal proceeding is
     commenced or threatened by any governmental agency or other person directed
     against the consummation of the Closing or any other material transaction
     contemplated under this Agreement or the other Transaction Documents and
     the Buyer, on the advice of legal counsel, reasonably and in good faith
     deems it impractical or inadvisable to proceed in view of such legal
     proceeding or threat thereof;

                    (v)    at any time on or prior to the Closing Date, by
     mutual written consent of Seller and Buyer; or

                    (vi)   by any party after the Termination Date, unless the
     Termination Date has been extended by the mutual written consent of Seller
     and Buyer.

          (b) If any party terminates this Agreement pursuant to this Section
6.13(a), all rights and obligations of the parties hereunder shall terminate
without any liability of any party hereto to any other party (except for any
liability of any party then in breach).

                                       14
<PAGE>

     IN WITNESS WHEREOF, the undersigned have executed this Securities Purchase
Agreement as of the date first written above.

                                   EARTHWEB INC.

                                   By: ________________________________
                                       Name:  Murray Hidary
                                       Title: Executive Vice President

                                   SELLER:

                                   ____________________________________
                                   Kenneth B. Williams
                                   ADDRESS: ___________________________
                                            ___________________________
                                            ___________________________

                                       15
<PAGE>

                                   EXHIBIT A

*** CONFIDENTIAL TREATMENT REQUESTED 22

<PAGE>

                                   Exhibit B

                             Employment Agreement
<PAGE>

                                   Exhibit C
<PAGE>

                                                                  EXECUTION COPY

                       OPTION HOLDER PURCHASE AGREEMENT

     This Option Holder Purchase Agreement (this "Agreement") is made this 13th
day of January, 2000, by and between EarthWeb Inc., a Delaware corporation
("Buyer"), and Chad Dorn ("Seller").

                               R E C I T A L S:

     WHEREAS, Buyer desires to purchase, and Seller desires to sell, assign and
transfer to Buyer all of the capital stock in Measure Up, Inc. ("Target") which
Seller owns (which amount of shares is set forth on Exhibit A to this Agreement)
or in which Seller has an interest (through options or otherwise), all on the
terms and subject to the conditions hereinafter set forth as part of that
certain Securities Purchase Agreement dated January 13, 2000, by and between
Buyer, Target, Kevin R. Brice and Robert M. M. Holtackers (the "Purchase
Agreement"). All of the securities or interests in securities of Target, which
are to be purchased by Buyer pursuant to this Agreement, are collectively
referred to hereinafter as the "Securities."

     NOW, THEREFORE, in consideration of the foregoing premises and the mutual
promises, agreements, representations, warranties and covenants herein
contained, the parties hereby agree as follows:

                                   SECTION 1

                                    Closing

     1.1. Closing Date.  The closing (the "Closing") of the transactions
          ------------
contemplated hereby shall be held at the offices of counsel to Buyer, Morrison &
Foerster LLP, 1290 Avenue of the Americas, 40th Floor, New York, New York 10104-
0050 and shall take place no later than sixty (60) days from the date of this
Agreement (the "Termination Date") or such other date and place as may be
mutually agreed upon by the parties (the "Closing Date").

     1.2. Purchase and Sale of Securities.  On the terms and subject to the
          -------------------------------
conditions herein set forth, Buyer shall purchase from Seller all of the
Securities, as of the Closing Date.

     1.3. Method of Conveyance.
          --------------------

          (a)  The sale, transfer, conveyance, assignment and delivery by Seller
of the Securities to Buyer shall be effected on the Closing Date by the delivery
of the Securities and execution of customary stock powers, duly guaranteed, and
other appropriate documents by Seller, as appropriate (collectively, the
"Instruments of Conveyance"), to Buyer.

          (b)  At the Closing, good and valid title to all of the Securities
shall be transferred, conveyed, assigned and delivered by Seller to Buyer
pursuant to this Agreement and the

                                       1
<PAGE>

Instruments of Conveyance, free and clear of any and all Liens (as defined
below). For the purposes of this Agreement, the term "Lien" shall mean any
pledge, security interest, encumbrance, lien or charge of any kind whatsoever.

     1.4. Purchase Price.
          --------------

     The aggregate purchase price for the Securities (the "Purchase Price") is
up to a dollar amount determined by multiplying Twenty Five Million Dollars
($25,000,000) by the percentage ownership by Seller of the Target on a fully
diluted basis (as set forth in Exhibit A hereto; the percentage ownership by
Seller of the Target on a fully diluted basis is referred to herein as the
"Seller Percentage"):

          (a)  at the Closing, Buyer shall pay to Seller in cash, the product of
(i) Four Million Dollars ($4,000,000) multiplied by (ii) the Seller Percentage
(the "Closing Date Cash Payment");

          (b)  at the Closing, Buyer shall deliver to Seller the Seller
Percentage of registered shares of Buyer's common stock, $.01 par value ("Buyer
Common Stock"), having an aggregate value of Six Million Dollars ($6,000,000)
(the "Closing Date Block of Buyer Common Stock") multiplied by the Seller
Percentage, such number of shares to be determined by taking the average of the
closing prices of Buyer Common Stock on the Nasdaq National Market (the "Average
Price") during the five (5) trading days immediately preceding the Closing Date
and dividing such Average Price into $6,000,000 (the "Closing Price") (provided,
                                                                       --------
however, that instead of delivering to Seller shares of Buyer Common Stock
-------
having an aggregate value of $6,000,000 multiplied by the Seller Percentage,
Buyer may pay Seller all or part of such amount in cash);

          (c)  upon the three-month anniversary of the Closing Date (the "Three-
Month Anniversary Date"), Buyer shall pay to Seller in cash, the product of (i)
Two Million Five Hundred Thousand Dollars ($2,500,000) multiplied by (ii) the
Seller Percentage;

          (d)  upon the six-month anniversary of the Closing Date (the "Six-
Month Anniversary Date"), Buyer shall pay to Seller in cash, the product of (i)
Two Million Five Hundred Thousand Dollars ($2,500,000) multiplied by (ii) the
Seller Percentage;

*** CONFIDENTIAL TREATMENT REQUESTED

          (e)  if the Year One Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the one-year anniversary of the Closing Date (the
"One-Year Anniversary Date") Buyer shall pay to Seller, in cash, an amount equal
to the product of (i) the Seller Percentage and (ii) $3,700,000 (such product,
the "Year One Earn-out Amount"). Notwithstanding the foregoing, if only $*** of
the Year One Earn-out Threshold has been achieved, then Seller shall receive 25%
of the Year One Earn-out Amount, but to be paid in the same manner as the Year
One Earn-out Amount; provided further, to the extent that between $*** and $***
of the Year One Earn-out Threshold has been achieved, then Seller shall receive
25% of the Year One Earn-out Amount plus an amount equal to the product of (i)
75% of the Year One Earn-out Amount and (ii) a fraction the numerator of which
is the amount by which Invoiced Revenues (as defined herein) exceeds $*** and
the denominator of which is ***; in any case, to be paid in the same manner as
the Year One Earn-out

                                       2
<PAGE>

Amount; provided further, to the extent Target produces an Integrated Assessment
Product (as defined herein) (i) on or prior to June 30, 2000, the Seller shall
be entitled to receive the entire amount of the Year One Earn-out Amount it is
entitled to receive under the terms of this paragraph, (ii) after June 30, 2000
but on or prior to September 1, 2000, then Seller shall be entitled to receive
only 85% of the Year One Earn-out Amount it is entitled to receive under the
terms of this paragraph, (iii) after September 1, 2000, then Seller shall be
entitled to receive only 80% of the Year One Earn-out Amount it is entitled to
receive under the terms of this paragraph;

*** CONFIDENTIAL TREATMENT REQUESTED 32

          (f)  if the Year Two Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the two-year anniversary of the Closing Date (the
"Two-Year Anniversary Date") Buyer shall pay to Seller, in cash, an amount equal
to the product of (i) the Seller Percentage and (ii) $*** (such product,
the "Year Two Earn-out Amount"). Notwithstanding the foregoing, if only $*** of
the Year Two Earn-out Threshold has been achieved, then Seller shall receive 25%
of the Year Two Earn-out Amount, but to be paid in the same manner as the Year
Two Earn-out Amount; provided further, to the extent that between $*** and $***
of the Year Two Earn-out Threshold has been achieved, then Seller shall receive
25% of the Year Two Earn-out Amount plus an amount equal to the product of (i)
75% of the Year Two Earn-out Amount and (ii) a fraction the numerator of which
is the amount by which Invoiced Revenues (as defined herein) exceeds $*** and
the denominator of which is ***; in any case, to be paid in the same manner as
the Year Two Earn-out Amount; and

*** CONFIDENTIAL TREATMENT REQUESTED 33

          (g)  if the Year Three Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the three-year anniversary of the Closing Date (the
"Three-Year Anniversary Date") Buyer shall pay to Seller, in cash, the an amount
equal to the product of (i) the Seller Percentage and (ii) $*** (such
product, the "Year Three Earn-out Amount"). Notwithstanding the foregoing, if
only $*** of the Year Three Earn-out Threshold has been achieved, then Seller
shall receive 25% of the Year Three Earn-out Amount, but to be paid in the same
manner as the Year Three Earn-out Amount; provided further, to the extent that
between $*** and $*** of the Year Three Earn-out Threshold has been achieved,
then Seller shall receive 25% of the Year Three Earn-out Amount plus an amount
equal to the product of (i) 75% of the Year Three Earn-out Amount and (ii) a
fraction the numerator of which is the amount by which Invoiced Revenues (as
defined herein) exceeds $*** and the denominator of which is ***; in any case,
to be paid in the same manner as the Year Three Earn-out Amount.

     1.5. Method of Payment.  Except as otherwise expressly provided herein, all
          -----------------
cash payments from one party to another under this Agreement shall be made by
check or wire transfer in United States dollars to an address designated in
writing by the party to receive such payment.  To the extent that any payment of
cash is scheduled to be made on an anniversary date of the Closing Date which is
not a Business Day (as defined in Section 6.12), then such payment or delivery
will be made on the Business Day immediately following such anniversary date.

     1.6. Contingent Consideration and Post-Closing Consideration.
          -------------------------------------------------------

          (a)  The consideration described in clauses 1.4(c), (d), (e), (f) and
(g) shall collectively be referred to herein as the "Post-Closing Consideration"
and the consideration

                                       3
<PAGE>

described in clauses 1.4(e), (f) and (g) shall collectively be referred to
herein as the "Contingent Consideration".

*** CONFIDENTIAL TREATMENT REQUESTED 34

          (b)  ***

          (c)  [RESERVED]

          (d)  To the extent required by applicable Tax laws, the Post-Closing
Consideration shall be treated as interest (or original issue discount) for Tax
purposes.  For purposes of this Agreement, "Tax" or "Taxes" shall mean any
federal, state, local or foreign income, gross receipts, license, payroll,
employment, excise, severance, stamp, occupation, premium, windfall profits,
environmental, customs duties, capital stock, property, franchise, profits,
withholding, social security (or similar), sales, use, transfer, registration,
value added, alternative or add-on minimum, estimated or other tax of any kind
whatsoever, including any interest, penalty or addition thereto, imposed by any
United States federal, state or local taxing Authority, or any foreign taxing
Authority.

     1.7. Conditions for Delivery of Contingent Consideration.
          ---------------------------------------------------

          (a)  For the purpose of computing the Contingent Consideration, Buyer
may be obligated to pay Seller:

          (i)       "Organic Business" shall refer to the business of the Target
     as conducted as of the date hereof and other related web-based business or
     certification and assessment business.

          (ii)      "Acquired Business" shall refer to any of Buyer's
     acquisitions completed after the Closing Date of businesses substantially
     similar to the Organic Business or assets of a business substantially
     similar to the Organic Business; provided, however, this shall not include
     any revenues generated by All Rossi, Inc. d/b/a CCPrep ("CCPrep") either on
     or via its website or other on-line activities.

          (iii)     "Organic Revenues" shall mean the Target's revenues from the
     conduct of the Organic Business as reflected in the September 1999
     Financial Statements plus revenues generated by CCPrep either on or via its
     website or other on-line activities excluding revenues derived from any on-
     line banner advertising.

          (iv)      "Acquired Revenues" shall mean any amount of revenue
     directly attributable to an Acquired Business for a given fiscal year in
     excess of an amount of revenue for such Acquired Business determined by
     multiplying (A) the revenues for such Acquired Business for the two (2)
     full calendar months immediately preceding the

                                       4
<PAGE>

     consummation of the acquisition of such Acquired Business by (B) six (6).

          (v)       "GAAP Revenue Recognition Period" shall mean the period of
     time over which revenue is recognized in accordance with GAAP. This period
     is currently nine months and, notwithstanding any changes to the duration
     of such period in accordance with GAAP after the date hereof, the
     calculation of the Contingent Consideration hereunder shall not be affected
     by such changes.

          (vi)      "Invoiced Revenue" shall mean Organic Revenue not adjusted
     for revenue recognized for the GAAP Revenue Period plus Acquired Revenues,
     but net of returns of product, as well as allowances and write-offs of
     uncollectible receivables (other than uncollectible receivables written off
     in the ordinary course of business). Invoiced Revenue shall not be adjusted
     for the GAAP Revenue Recognition Period.

     *** CONFIDENTIAL TREATMENT REQUESTED 35

          (vii)     "Year One Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2000.

     *** CONFIDENTIAL TREATMENT REQUESTED 36

          (viii)    "Year Two Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2001.

     *** CONFIDENTIAL TREATMENT REQUESTED 37

          (ix)      "Year Three Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2002.

          (x)       "Integrated Assessment Product" shall refer to the
     successful development and implementation of an integrated assessment
     product by Kevin Brice in cooperation with EW Career Solutions, Inc.
     ("EW"), a subsidiary of Buyer that operates the Dice.com business,
     utilizing adaptive learning technologies to assess the skill level of the
     test taker and which shall be integrated into the EW system. The subject
     areas for which this product shall be developed are identified on Exhibit C
     hereto.

          (b)  Each payment of Contingent Consideration required to be paid
pursuant to the terms of this Agreement shall be paid by Buyer to the Seller as
promptly as practicable following the first business day of April following the
applicable measurement period for the Invoiced Revenues (which shall be not
later than the fifth business day of April).

          (c)  In the event that Buyer sells all or substantially all of the
Organic Business, then Buyer shall ensure that all of its obligations hereunder
with respect to the payment of Contingent Consideration shall be assumed in all
material respects to the acquiror of such Organic Business.

          (d)  Buyer shall operate the Organic Business from and after the
Closing Date in the ordinary course of business.

     1.8. Withholding for Options.  Buyer and Seller agree that all withholding,
          -----------------------
if any, will be made with respect to the Securities.

                                       5
<PAGE>

                                   SECTION 2

              Individual Representations and Warranties of Seller

     Seller represents and warrants to Buyer as of the date of this Agreement as
follows:

     2.1. Capital Stock.  Seller is the owner, beneficially and of record, of
          -------------
the Securities set forth opposite such person's name on Exhibit A hereto.  The
Securities will not be subject to any liens or restrictions on transfer, other
than restrictions imposed by applicable securities laws and, upon the transfer
of the Securities to Buyer, Buyer will obtain good and marketable title to the
Securities, free and clear of all liens, claims and encumbrances of any kind.
At the Closing Date, other than the affirmative obligation of Seller to exercise
its options and convert them into shares of capital stock of Target, there will
be no authorized or outstanding option, subscription, warrant, call, right,
commitment or other agreement obligating Seller to issue or transfer any of its
Securities.  Seller is not a party to any voting trust, proxy or other agreement
or understanding with respect to the Securities.

     2.2. Authorization; Consents; Enforceability.
          ---------------------------------------

          (a)  This Agreement and the Transaction Documents to which Seller is a
party or a signatory, have been duly authorized, executed and delivered by
Seller and constitute the legal, valid and binding obligation of Seller
enforceable in accordance with their respective terms subject to applicable
bankruptcy, insolvency and similar laws affecting creditors' rights generally
and to general principles of equity.

          (b)  No Consent is required to be obtained by Seller from, and no
notice or filing is required to be given by, Seller to or made by Seller with,
any Governmental Authority or other person in connection with the execution,
delivery and performance by Seller of this Agreement.

          (c)  The execution and delivery by Seller of this Agreement and the
Transaction Documents to which it is a party do not, and the consummation by
Seller of the transactions contemplated hereby or thereby will not (i) violate
or conflict with, or result (with the giving of notice or lapse of time or both)
in a violation of or constitute a default (or give rise to any right of
termination, cancellation or acceleration) under any of the terms, conditions or
provisions of any note, agreement or other instrument or obligation to which
Seller is a party or by which any of its assets may be bound, except for such
violations or defaults (or rights of termination, cancellation or acceleration)
as to which requisite waivers or consents have been obtained or (iii) violate
any order, writ, injunction, decree, statute, rule or regulation applicable to
Seller or any of its assets.

     2.3. Litigation.  There is no litigation, action, claim, proceeding or
          ----------
governmental investigation pending or, to the knowledge of Seller, threatened
against Seller which may affect Seller's ability to perform his obligations
under this Agreement.

                                   SECTION 3

                    Representations and Warranties of Buyer

     Buyer represents and warrants to Seller as follows:

                                       6
<PAGE>

     3.1. Requisite Power.  Buyer has all requisite corporate power to execute
          ---------------
and deliver this Agreement and to carry out and perform its obligations under
the terms of this Agreement and the Transaction Documents to which it is a
party.

     3.2. Authorization.  All action on the part of Buyer necessary for the
          -------------
authorization, execution, delivery and performance of this Agreement and the
Transaction Documents to which it is a party has been taken and remains in full
force and effect.  This Agreement constitutes, and the Transaction Documents to
which Buyer is a party will each constitute, the valid and binding obligation of
Buyer enforceable against Buyer in accordance with its terms.

     3.3. No Conflict.  The execution, delivery and performance of this
          -----------
Agreement and any of the Transaction Documents to which it is a party by Buyer
have not resulted and will not result in, nor will consummation of the
transactions contemplated hereby or thereby result in, any violation of, or
conflict with, or constitute a default under, any of its charter documents, or
result in any material violation of, or conflict with, or constitute a default
under, any of its material agreements; and there exists no such violation or
default that does or could materially and adversely affect the ability of Buyer
to consummate its obligations hereunder.

     3.4. Governmental Consents, etc.  No consent, approval or authorization of
          ---------------------------
or designation, declaration, or filing with any Authority on the part of Buyer
is required in connection with the valid execution and delivery of this
Agreement or any Transaction Document to which it is a party or the consummation
of the transactions contemplated thereby or thereby.

     3.5. Brokers or Finders.  Buyer has not incurred, and will not incur,
          ------------------
directly or indirectly, any liability for brokerage or finders' fees or agents'
commissions or any similar charges in connection with this Agreement or any
transaction contemplated hereby.

     3.6. Organization and Qualification.  Buyer is a corporation duly
          ------------------------------
organized, validly existing and in good standing under the laws of the State of
Delaware and has the corporate power to carry on its business as it is now being
conducted or currently proposed to be conducted and is qualified to do business
in each jurisdiction where such qualification is required except where the
failure to be so qualified would not have a material adverse effect.

     3.7. Validity of Shares to be Issued.  The issuance of the shares of Buyer
          -------------------------------
Common Stock to Seller under this Agreement has been duly authorized by all
necessary corporate action, and, upon issuance in accordance with the terms of
this Agreement, will be validly issued, fully paid and nonassessable and issued
free of pre-emptive rights.

     3.8. No Brokers or Finders.  No Person is or will be entitled to receive
          ---------------------
from Seller any brokers', finders' or similar fee or commission in connection
with the transaction contemplated by Agreement on account of services rendered
to Buyer.

     3.9. Reports.  Buyer has made available to Seller true and complete copies
          -------
of the Shelf Registration Statement (as defined below) and any other reports or
registration statements filed by Buyer with the Securities Exchange Commission
("Commission") since November 1999, except for preliminary material, which are
all the documents that Buyer was required to file with the Commission since that
date (collectively, the "Buyer SEC Reports").  As of their respective

                                       7
<PAGE>

dates, the Buyer SEC Reports complied as to form in all material respects with
the requirements of the Securities Act or the Securities Exchange Act of 1934,
as amended (the "Securities Exchange Act"), as the case may be, and the rules
and regulations of the Commission thereunder applicable to the Buyer SEC
Reports. As of their respective dates, the Buyer SEC Reports did not contain any
untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading.

     3.10. Effectiveness of Registration of Buyer Stock.  All of the registered
           --------------------------------------------
Buyer Stock contemplated to by issued by Buyer pursuant to Section 1.5 of this
Agreement has been duly registered under the Securities Act of 1933, as amended
(the "Securities Act"), pursuant to the registration statement filed November
22, 1999 of Buyer on Form S-4 under the Securities Act pursuant to Rule 415
under the Securities Act (the "Shelf Registration Statement").  The Shelf
Registration Statement became effective on December 14, 1999 and remains
effective as of the date hereof.

                                   SECTION 4

                                    Closing

     4.1.  Conditions to Obligation of Buyer.  The obligation of Buyer to
           ---------------------------------
consummate the transactions to be performed by it in connection with the Closing
is subject to satisfaction of the following conditions;

           (a) the representations and warranties set forth in Section 2 above
shall be true and correct in all material respects at and as of the Closing
Date;

           (b) Seller shall have provided evidence reasonably satisfactory to
Buyer's counsel that prior to the Closing Date, Seller has exercised all of its
outstanding options of Target and converted such options into shares of capital
stock of Target;

           (c) the exercise price to be paid by Seller in respect of the options
has been paid to the Target and all options held by Seller have been converted
into shares of common stock of the Target;

           (d) no action, suit, or proceeding is pending before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction or before any arbitrator wherein an unfavorable injunction,
judgment, order, decree, ruling or charge would (A) prevent consummation of any
of the transactions contemplated by this Agreement, (B) cause any of the
transactions contemplated by this Agreement to be rescinded following
consummation or (C) affect adversely the right of Buyer to acquire the
Securities (and no such injunction, judgment, order, decree, ruling or charge
shall be in effect);

           (e) Seller shall have delivered to Buyer a certificate signed by
Seller to the effect that each of the conditions specified above in Section
4.1(a) through (c) is true in all respects;

           (f) Buyer shall have received, from or on behalf of Seller or other
applicable party, delivery of all the Closing Documents listed in Section 4.3
below;

                                       8
<PAGE>

          (g)  the closing of the transactions contemplated by the Purchase
Agreement shall be occurring; and

          (h)  all actions to be taken by Seller in connection with consummation
of the transactions contemplated hereby and by the other Transaction Documents
and all certificates, opinions, instruments and other documents required to
effect the transactions contemplated hereby and thereby will be reasonably
satisfactory in form and substance to Buyer.

                    Buyer may waive any condition specified in this Section 4.1
if it executes a writing so stating at the Closing.

     4.2. Conditions to Obligations of Seller.  The obligations of Seller to
          -----------------------------------
consummate the transactions to be performed by them in connection with the
Closing is subject to satisfaction of the following conditions:

          (a)  the representations and warranties set forth in Section 3 above
shall be true and correct in all material respects at and as of the Closing
Date;

          (b)  no action, suit, or proceeding is pending before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction or before any arbitrator wherein an unfavorable injunction,
judgment, order, decree, ruling or charge would (A) prevent consummation of any
of the transactions contemplated by this Agreement or (B) cause any of the
transactions contemplated by this Agreement to be rescinded following
consummation (and no such injunction, judgment, order, decree, ruling or charge
shall be in effect);

          (c)  Seller shall have received from Buyer all of the Closing
Documents listed in Section 4.4 below;

          (d)  the closing of the transactions contemplated by the Purchase
Agreement shall be occurring; and

          (e)  Buyer shall have delivered to Seller a certificate signed by an
executive officer of Buyer to the effect that each of the conditions specified
above in Section 4.2(a) through (c) is true in all respects.

                    Seller may waive any condition specified in this Section 4.2
if it executes a writing so stating at the Closing.

     4.3. Seller Deliveries.  Simultaneously with the Closing of the
          -----------------
transactions contemplated by this Agreement, the following documents shall be
executed and/or delivered by Seller to Buyer:

          (a)  the certificates representing Target's options, together with
stock powers executed in blank and any certificates or documents representing
the Target options;

          (b)  a release signed by Seller, of rights to options of Target set
forth on Exhibit A hereto

                                       9
<PAGE>

          (c)  the Employment Agreement between Seller and Buyer in
substantially the form annexed hereto as Exhibit B (the "Employment Agreement");
and

          (d)  the other Transaction Documents.

     4.4. Buyer Deliveries.  Simultaneously with the Closing of the transactions
          ----------------
contemplated by this Agreement, the following documents or items shall be
executed and/or delivered by Buyer to Seller or other applicable party:

          (a)  the Employment Agreement;

          (b)  the Closing Date Cash Payment; and

          (c)  the Closing Date Block of Buyer Common Stock.

                                   SECTION 5

                                   Covenants

     5.1. Covenants Pending Closing.
          -------------------------

          (a)  Each party shall cooperate in obtaining all required consents,
audits, and completion of other transactions contemplated to have occurred as of
the Closing and to use best efforts to cause the fulfillment of the conditions
to the other party's obligation to consummate the transactions contemplated
hereby. In that regard, Seller shall have the affirmative obligation to exercise
its options of Target prior to the Closing Date and pay the exercise price per
share in connection therewith.

          (b)  Each party will give to the other prompt written notice of any
material adverse change in any fact or circumstance respecting which a
representation, warranty, covenant or agreement has been made by it herein.

     5.2. Post-Closing Covenants.
          ----------------------

          (a)  From and after the Closing, Seller shall execute all such
instruments or documents and take all such other actions as Buyer may reasonably
request to effectuate the transactions contemplated hereby, including, without
limitation obtaining of any necessary or advisable consents not required by
Buyer prior to Closing in connection with the transactions contemplated hereby.

          (b)  Seller shall indemnify (pro rata, based on the Purchase Price
receivable by each party comprising Seller), defend and hold harmless Buyer, its
officers, directors, employees, partners, members, shareholders, Affiliates (and
their officers, directors, employees, members, partners and shareholders) and
agents (collectively, the "Buyer Indemnified Parties") from and against any
action, loss, liability, damage, claim, fine, penalty, lien or expense,
including reasonable legal costs, attorneys' fees and expenses (collectively,
"Buyer Loss"), to the extent the same arises out of any breach by Seller of any
representation, warranty, agreement or covenant made by Seller herein or in any
Transaction Document.

                                       10
<PAGE>

          (c)  Buyer shall indemnify, defend and hold harmless Seller from and
against any action, loss, liability, damage, claim, fine, penalty, lien,
interest or expense, including without limitation, reasonable legal costs,
attorneys' fees and expenses (collectively, "Seller Loss"), to the extent the
same arises out of breach by Buyer of any representation, warranty, agreement or
covenant made by Buyer herein or in any Transaction Document.

          (d)  Seller hereby agrees that it will sell shares of Buyer Common
Stock only in compliance with applicable federal and state securities laws.

                                   SECTION 6

                                 Miscellaneous

     6.1. Governing Law.  This Agreement shall be governed in all respects by
          -------------
the laws of the State of New York, without giving effect to any choice or
conflict of law provision or rule (whether of the State of New York or any other
jurisdiction that would cause the application of the laws of any jurisdiction
other that the State of New York).

     6.2. Survival.  The representations and warranties made herein shall
          --------
survive any investigation made by the parties and the Closing of the
transactions contemplated hereby.  Except as expressly provided otherwise
herein, the covenants and agreements made herein shall survive the Closing of
the transactions contemplated hereby for a period of 18 months from the Closing
Date; provided, that, notwithstanding the foregoing, the representations and
      --------  ----
warranties set forth in Section 2.1 and Section 2.2(a) in their entirety shall
survive forever; provided, further, that notwithstanding anything to the
                 --------  -------
contrary contained in this Agreement, with respect to any claim of intentional
fraud on the part of Seller, Seller will not have the benefit of any of the
limitations of this Section 6.2.

     6.3. Successors and Assigns.  Except as otherwise provided herein, the
          ----------------------
provisions hereof shall inure to the benefit of, and be binding upon, the
successors, assigns, heirs, executors and administrators of the parties hereto.
No party may assign any of its rights or obligations hereunder without the
express written consent of the other party hereto, which consent may not be
unreasonably withheld; provided, however, any party may assign any and all of
                       --------  -------
its rights and interests hereunder to one or more of its affiliates and
designate one or more of its affiliates to perform its obligations hereunder;
provided, however, that such party remains liable for full and total performance
of its obligations hereunder.

     6.4. Notices.  Any notices authorized to be given hereunder shall be in
          -------
writing and deemed given, if delivered personally or by overnight courier, on
the date of delivery, if a Business Day, or if not a Business Day, on the first
Business Day following delivery, or if mailed, three days after mailing by
registered or certified mail, return receipt requested, and in each case,
addressed, as follows:

                                       11
<PAGE>

          If to Buyer:

          EarthWeb Inc.
          Three Park Avenue, 38th Floor
          New York, NY 10016
          Facsimile: (212) 725-6559
          Attention: Jack D. Hidary, President

          and a copy to:

          John Hempill, Esq.
          Morrison & Foerster LLP
          1290 Avenue of the Americas
          New York, NY  10104-0185
          Facsimile: (212) 468-7900

          If to Seller:

          At the address set forth under Seller's name and signature on the
          signature page hereto.

          and a copy to:

          Brian T. Casey, Esq.
          Morris, Manning & Martin, LLP
          1600 Atlanta Financial Center
          Atlanta, Georgia 30326
          Facsimile: (404) 365-9532

or if delivered by telecopier, on a Business Day before 4:00 PM local time of
addressee, on transmission confirmed electronically, or if at any other time or
day on the first Business Day succeeding transmission confirmed electronically,
to the facsimile numbers provided above, or to such other address or telecopy
number as any party shall specify to the other, pursuant to the foregoing notice
provisions.

     6.5. Waiver; Amendments.  This Agreement and the Transaction Documents, (i)
          ------------------
set forth the entire agreement of the parties respecting the subject matter
hereof, (ii) supersede any prior and contemporaneous understandings, agreements,
or representations by or among the parties, written or oral, to the extent they
related in any way to the subject matter hereof and (iii) may not be amended
orally, and no right or obligation of any party may be altered, except as
expressly set forth in a writing signed by such party.

     6.6. Counterparts.  This Agreement may be signed in several counterparts.
          ------------

     6.7. Expenses.  Each party shall bear its own expenses incurred with
          --------
respect to the preparation of this Agreement and the consummation of the
transactions contemplated hereby.

                                       12
<PAGE>

     6.8.  Arbitration.
           -----------

           (a) If at any time there shall be a dispute arising out of or
relating to any provision of this Agreement, any Transaction Document or any
agreement contemplated hereby or thereby, such dispute shall be submitted for
binding and final determination by arbitration in accordance with the
regulations then obtaining of the American Arbitration Association. Judgment
upon the award rendered by the arbitrator(s) resulting from such arbitration
shall be in writing, and shall be final and binding upon all involved parties.
The site of any arbitration shall be within New York City, New York.

           (b) This arbitration clause shall survive the termination of this
Agreement, any Transaction Document and any agreement contemplated hereby or
thereby.

     6.9.  Waiver of Jury Trial; Exemplary Damages.  THE PARTIES HERETO HEREBY
           ---------------------------------------
WAIVE THEIR RIGHTS TO TRIAL BY JURY WITH RESPECT TO ANY DISPUTE ARISING UNDER
THIS AGREEMENT AND ANY TRANSACTION DOCUMENT (OTHER THAN THE EMPLOYMENT
AGREEMENT).  No party shall be awarded punitive or other exemplary damages
respecting any dispute arising under this Agreement or any Transaction Document
contemplated hereby.

     6.10. Attorneys' Fees.  The unsuccessful party to any court or other
           ---------------
proceeding arising out of this Agreement or any Transaction Document that is not
resolved by arbitration under Section 6.8 shall pay to the prevailing party all
attorneys' fees and costs actually incurred by the prevailing party, in addition
to any other relief to which it may be entitled.  Otherwise, attorneys' fees
shall be paid in accordance with the judgment rendered.  As used in this Section
6.10 and elsewhere in this Agreement, "actual attorneys' fees" or "attorneys'
fees actually incurred" means the full and actual cost of any legal services
actually performed in connection with the matter for which such fees are sought,
calculated on the basis of the usual fees charged by the attorneys performing
such services, and shall not be limited to "reasonable attorneys' fees" as the
term may be defined in statutory or decisional Authority.

     6.11. Transaction Documents.  When used in this Agreement, the term
           ---------------------
"Transaction Documents" shall mean this Agreement and the Employment Agreement.

     6.12. Business Day.  When used in this Agreement, the term "Business Day"
           ------------
shall mean a day other than a Saturday, Sunday or a day on which commercial
banks in New York City are generally closed for business.

     6.13. Termination.
           -----------

           (a) This Agreement may be terminated prior to the Closing as follows:

                    (i)  at the election of Seller, if any one or more of the
     conditions to its obligation to close set forth in Section 4.2 of this
     Agreement has not been fulfilled as of the Closing Date;

                                       13
<PAGE>

                    (ii)   at the election of the Buyer, if any one or more of
     the conditions to its obligation to close set forth in Section 4.1 of this
     Agreement has not been fulfilled as of the Closing Date;

                    (iii)  at the election of Buyer or Seller if, prior to the
     Closing, the other has breached any material representation, warranty,
     covenant or agreement contained in this Agreement;

                    (iv)   at the election of Buyer, if any legal proceeding is
     commenced or threatened by any governmental agency or other person directed
     against the consummation of the Closing or any other material transaction
     contemplated under this Agreement or the other Transaction Documents and
     the Buyer, on the advice of legal counsel, reasonably and in good faith
     deems it impractical or inadvisable to proceed in view of such legal
     proceeding or threat thereof;

                    (v)    at any time on or prior to the Closing Date, by
     mutual written consent of Seller and Buyer; or

                    (vi)   by any party after the Termination Date, unless the
     Termination Date has been extended by the mutual written consent of Seller
     and Buyer.

          (b)  If any party terminates this Agreement pursuant to this Section
6.13(a), all rights and obligations of the parties hereunder shall terminate
without any liability of any party hereto to any other party (except for any
liability of any party then in breach).

                                       14
<PAGE>

     IN WITNESS WHEREOF, the undersigned have executed this Securities Purchase
Agreement as of the date first written above.

                              EARTHWEB INC.

                              By:_____________________________________
                                 Name:  Murray Hidary
                                 Title: Executive Vice President

                              SELLER:

                              ________________________________________
                              Chad Dorn
                              ADDRESS: _______________________________
                                       _______________________________
                                       _______________________________

                                       15
<PAGE>

                                   EXHIBIT A

*** CONFIDENTIAL TREATMENT REQUESTED 38

<PAGE>

                                   Exhibit B

                             Employment Agreement
<PAGE>

                                   Exhibit C
<PAGE>

                                                                  EXECUTION COPY

                       OPTION HOLDER PURCHASE AGREEMENT

     This Option Holder Purchase Agreement (this "Agreement") is made this 13th
day of January, 2000, by and between EarthWeb Inc., a Delaware corporation
("Buyer"), and Deanne Brown ("Seller").

                               R E C I T A L S:

     WHEREAS, Buyer desires to purchase, and Seller desires to sell, assign and
transfer to Buyer all of the capital stock in Measure Up, Inc. ("Target") which
Seller owns (which amount of shares is set forth on Exhibit A to this Agreement)
or in which Seller has an interest (through options or otherwise), all on the
terms and subject to the conditions hereinafter set forth as part of that
certain Securities Purchase Agreement dated January 13, 2000, by and between
Buyer, Target, Kevin R. Brice and Robert M. M. Holtackers (the "Purchase
Agreement"). All of the securities or interests in securities of Target, which
are to be purchased by Buyer pursuant to this Agreement, are collectively
referred to hereinafter as the "Securities."

     NOW, THEREFORE, in consideration of the foregoing premises and the mutual
promises, agreements, representations, warranties and covenants herein
contained, the parties hereby agree as follows:

                                   SECTION 1

                                    Closing

     1.1. Closing Date.  The closing (the "Closing") of the transactions
          ------------
contemplated hereby shall be held at the offices of counsel to Buyer, Morrison &
Foerster LLP, 1290 Avenue of the Americas, 40th Floor, New York, New York 10104-
0050 and shall take place no later than sixty (60) days from the date of this
Agreement (the "Termination Date") or such other date and place as may be
mutually agreed upon by the parties (the "Closing Date").

     1.2. Purchase and Sale of Securities.  On the terms and subject to the
          -------------------------------
conditions herein set forth, Buyer shall purchase from Seller all of the
Securities, as of the Closing Date.

     1.3. Method of Conveyance.
          --------------------

          (a)  The sale, transfer, conveyance, assignment and delivery by Seller
of the Securities to Buyer shall be effected on the Closing Date by the delivery
of the Securities and execution of customary stock powers, duly guaranteed, and
other appropriate documents by Seller, as appropriate (collectively, the
"Instruments of Conveyance"), to Buyer.

          (b)  At the Closing, good and valid title to all of the Securities
shall be transferred, conveyed, assigned and delivered by Seller to Buyer
pursuant to this Agreement and the

                                       1
<PAGE>

Instruments of Conveyance, free and clear of any and all Liens (as defined
below). For the purposes of this Agreement, the term "Lien" shall mean any
pledge, security interest, encumbrance, lien or charge of any kind whatsoever.

     1.4. Purchase Price.
          --------------

     The aggregate purchase price for the Securities (the "Purchase Price") is
up to a dollar amount determined by multiplying Twenty Five Million Dollars
($25,000,000) by the percentage ownership by Seller of the Target on a fully
diluted basis (as set forth in Exhibit A hereto; the percentage ownership by
Seller of the Target on a fully diluted basis is referred to herein as the
"Seller Percentage"):

          (a)  at the Closing, Buyer shall pay to Seller in cash, the product of
(i) Four Million Dollars ($4,000,000) multiplied by (ii) the Seller Percentage
(the "Closing Date Cash Payment");

          (b)  at the Closing, Buyer shall deliver to Seller the Seller
Percentage of registered shares of Buyer's common stock, $.01 par value ("Buyer
Common Stock"), having an aggregate value of Six Million Dollars ($6,000,000)
(the "Closing Date Block of Buyer Common Stock") multiplied by the Seller
Percentage, such number of shares to be determined by taking the average of the
closing prices of Buyer Common Stock on the Nasdaq National Market (the "Average
Price") during the five (5) trading days immediately preceding the Closing Date
and dividing such Average Price into $6,000,000 (the "Closing Price") (provided,
                                                                       --------
however, that instead of delivering to Seller shares of Buyer Common Stock
-------
having an aggregate value of $6,000,000 multiplied by the Seller Percentage,
Buyer may pay Seller all or part of such amount in cash);

          (c)  upon the three-month anniversary of the Closing Date (the "Three-
Month Anniversary Date"), Buyer shall pay to Seller in cash, the product of (i)
Two Million Five Hundred Thousand Dollars ($2,500,000) multiplied by (ii) the
Seller Percentage;

          (d)  upon the six-month anniversary of the Closing Date (the "Six-
Month Anniversary Date"), Buyer shall pay to Seller in cash, the product of (i)
Two Million Five Hundred Thousand Dollars ($2,500,000) multiplied by (ii) the
Seller Percentage;

*** CONFIDENTIAL TREATMENT REQUESTED 39

          (e)  if the Year One Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the one-year anniversary of the Closing Date (the
"One-Year Anniversary Date") Buyer shall pay to Seller, in cash, an amount equal
to the product of (i) the Seller Percentage and (ii) $*** (such product, the
"Year One Earn-out Amount"). Notwithstanding the foregoing, if only $*** of the
Year One Earn-out Threshold has been achieved, then Seller shall receive 25% of
the Year One Earn-out Amount, but to be paid in the same manner as the Year One
Earn-out Amount; provided further, to the extent that between $*** and $*** of
the Year One Earn-out Threshold has been achieved, then Seller shall receive 25%
of the Year One Earn-out Amount plus an amount equal to the product of (i) 75%
of the Year One Earn-out Amount and (ii) a fraction the numerator of which is
the amount by which Invoiced Revenues (as defined herein) exceeds $*** and the
denominator of which is ***; in any case, to be paid in the same manner as the
Year One Earn-out

                                       2
<PAGE>

Amount; provided further, to the extent Target produces an Integrated Assessment
Product (as defined herein) (i) on or prior to June 30, 2000, the Seller shall
be entitled to receive the entire amount of the Year One Earn-out Amount it is
entitled to receive under the terms of this paragraph, (ii) after June 30, 2000
but on or prior to September 1, 2000, then Seller shall be entitled to receive
only 85% of the Year One Earn-out Amount it is entitled to receive under the
terms of this paragraph, (iii) after September 1, 2000, then Seller shall be
entitled to receive only 80% of the Year One Earn-out Amount it is entitled to
receive under the terms of this paragraph;

*** CONFIDENTIAL TREATMENT REQUESTED 40

          (f) if the Year Two Earn-out Threshold (as defined in Section 1.7) has
been achieved, then upon the two-year anniversary of the Closing Date (the "Two-
Year Anniversary Date") Buyer shall pay to Seller, in cash, an amount equal to
the product of (i) the Seller Percentage and (ii) $*** (such product, the "Year
Two Earn-out Amount"). Notwithstanding the foregoing, if only $*** of the Year
Two Earn-out Threshold has been achieved, then Seller shall receive 25% of the
Year Two Earn-out Amount, but to be paid in the same manner as the Year Two
Earn-out Amount; provided further, to the extent that between $*** and $*** of
the Year Two Earn-out Threshold has been achieved, then Seller shall receive 25%
of the Year Two Earn-out Amount plus an amount equal to the product of (i) 75%
of the Year Two Earn-out Amount and (ii) a fraction the numerator of which is
the amount by which Invoiced Revenues (as defined herein) exceeds $*** and the
denominator of which is ***; in any case, to be paid in the same manner as the
Year Two Earn-out Amount; and

*** CONFIDENTIAL TREATMENT REQUESTED 41

          (g) if the Year Three Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the three-year anniversary of the Closing Date (the
"Three-Year Anniversary Date") Buyer shall pay to Seller, in cash, the an amount
equal to the product of (i) the Seller Percentage and (ii) $*** (such product,
the "Year Three Earn-out Amount"). Notwithstanding the foregoing, if only $***
of the Year Three Earn-out Threshold has been achieved, then Seller shall
receive 25% of the Year Three Earn-out Amount, but to be paid in the same manner
as the Year Three Earn-out Amount; provided further, to the extent that between
$*** and $*** of the Year Three Earn-out Threshold has been achieved, then
Seller shall receive 25% of the Year Three Earn-out Amount plus an amount equal
to the product of (i) 75% of the Year Three Earn-out Amount and (ii) a fraction
the numerator of which is the amount by which Invoiced Revenues (as defined
herein) exceeds $*** and the denominator of which is ***; in any case, to be
paid in the same manner as the Year Three Earn-out Amount.

     1.5. Method of Payment.  Except as otherwise expressly provided herein, all
          -----------------
cash payments from one party to another under this Agreement shall be made by
check or wire transfer in United States dollars to an address designated in
writing by the party to receive such payment.  To the extent that any payment of
cash is scheduled to be made on an anniversary date of the Closing Date which is
not a Business Day (as defined in Section 6.12), then such payment or delivery
will be made on the Business Day immediately following such anniversary date.

     1.6. Contingent Consideration and Post-Closing Consideration.
          -------------------------------------------------------

          (a)  The consideration described in clauses 1.4(c), (d), (e), (f) and
(g) shall collectively be referred to herein as the "Post-Closing Consideration"
and the consideration

                                       3
<PAGE>

described in clauses 1.4(e), (f) and (g) shall collectively be referred to
herein as the "Contingent Consideration".

*** CONFIDENTIAL TREATMENT REQUESTED 42

          (b)  ***

          (c)  [RESERVED]

          (d)  To the extent required by applicable Tax laws, the Post-Closing
Consideration shall be treated as interest (or original issue discount) for Tax
purposes.  For purposes of this Agreement, "Tax" or "Taxes" shall mean any
federal, state, local or foreign income, gross receipts, license, payroll,
employment, excise, severance, stamp, occupation, premium, windfall profits,
environmental, customs duties, capital stock, property, franchise, profits,
withholding, social security (or similar), sales, use, transfer, registration,
value added, alternative or add-on minimum, estimated or other tax of any kind
whatsoever, including any interest, penalty or addition thereto, imposed by any
United States federal, state or local taxing Authority, or any foreign taxing
Authority.

     1.7. Conditions for Delivery of Contingent Consideration.
          ---------------------------------------------------

          (a)  For the purpose of computing the Contingent Consideration, Buyer
may be obligated to pay Seller:

          (i)       "Organic Business" shall refer to the business of the Target
     as conducted as of the date hereof and other related web-based business or
     certification and assessment business.

          (ii)      "Acquired Business" shall refer to any of Buyer's
     acquisitions completed after the Closing Date of businesses substantially
     similar to the Organic Business or assets of a business substantially
     similar to the Organic Business; provided, however, this shall not include
     any revenues generated by All Rossi, Inc. d/b/a CCPrep ("CCPrep") either on
     or via its website or other on-line activities.

          (iii)     "Organic Revenues" shall mean the Target's revenues from the
     conduct of the Organic Business as reflected in the September 1999
     Financial Statements plus revenues generated by CCPrep either on or via its
     website or other on-line activities excluding revenues derived from any on-
     line banner advertising.

          (iv)      "Acquired Revenues" shall mean any amount of revenue
     directly attributable to an Acquired Business for a given fiscal year in
     excess of an amount of revenue for such Acquired Business determined by
     multiplying (A) the revenues for such Acquired Business for the two (2)
     full calendar months immediately preceding the

                                       4
<PAGE>

     consummation of the acquisition of such Acquired Business by (B) six (6).

          (v)       "GAAP Revenue Recognition Period" shall mean the period of
     time over which revenue is recognized in accordance with GAAP. This period
     is currently nine months and, notwithstanding any changes to the duration
     of such period in accordance with GAAP after the date hereof, the
     calculation of the Contingent Consideration hereunder shall not be affected
     by such changes.

          (vi)      "Invoiced Revenue" shall mean Organic Revenue not adjusted
     for revenue recognized for the GAAP Revenue Period plus Acquired Revenues,
     but net of returns of product, as well as allowances and write-offs of
     uncollectible receivables (other than uncollectible receivables written off
     in the ordinary course of business). Invoiced Revenue shall not be adjusted
     for the GAAP Revenue Recognition Period.

     *** CONFIDENTIAL TREATMENT REQUESTED 43

          (vii)     "Year One Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2000.

     *** CONFIDENTIAL TREATMENT REQUESTED 44

          (viii)    "Year Two Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2001.

     *** CONFIDENTIAL TREATMENT REQUESTED 45

          (ix)      "Year Three Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2002.

          (x)       "Integrated Assessment Product" shall refer to the
     successful development and implementation of an integrated assessment
     product by Kevin Brice in cooperation with EW Career Solutions, Inc.
     ("EW"), a subsidiary of Buyer that operates the Dice.com business,
     utilizing adaptive learning technologies to assess the skill level of the
     test taker and which shall be integrated into the EW system. The subject
     areas for which this product shall be developed are identified on Exhibit C
     hereto.

          (b)  Each payment of Contingent Consideration required to be paid
pursuant to the terms of this Agreement shall be paid by Buyer to the Seller as
promptly as practicable following the first business day of April following the
applicable measurement period for the Invoiced Revenues (which shall be not
later than the fifth business day of April).

          (c)  In the event that Buyer sells all or substantially all of the
Organic Business, then Buyer shall ensure that all of its obligations hereunder
with respect to the payment of Contingent Consideration shall be assumed in all
material respects to the acquiror of such Organic Business.

          (d)  Buyer shall operate the Organic Business from and after the
Closing Date in the ordinary course of business.

     1.8. Withholding for Options.  Buyer and Seller agree that all withholding,
          -----------------------
if any, will be made with respect to the Securities.

                                       5
<PAGE>

                                   SECTION 2

              Individual Representations and Warranties of Seller

     Seller represents and warrants to Buyer as of the date of this Agreement as
follows:

     2.1. Capital Stock.  Seller is the owner, beneficially and of record, of
          -------------
the Securities set forth opposite such person's name on Exhibit A hereto.  The
Securities will not be subject to any liens or restrictions on transfer, other
than restrictions imposed by applicable securities laws and, upon the transfer
of the Securities to Buyer, Buyer will obtain good and marketable title to the
Securities, free and clear of all liens, claims and encumbrances of any kind.
At the Closing Date, other than the affirmative obligation of Seller to exercise
its options and convert them into shares of capital stock of Target, there will
be no authorized or outstanding option, subscription, warrant, call, right,
commitment or other agreement obligating Seller to issue or transfer any of its
Securities.  Seller is not a party to any voting trust, proxy or other agreement
or understanding with respect to the Securities.

     2.2. Authorization; Consents; Enforceability.
          ---------------------------------------

          (a)  This Agreement and the Transaction Documents to which Seller is a
party or a signatory, have been duly authorized, executed and delivered by
Seller and constitute the legal, valid and binding obligation of Seller
enforceable in accordance with their respective terms subject to applicable
bankruptcy, insolvency and similar laws affecting creditors' rights generally
and to general principles of equity.

          (b)  No Consent is required to be obtained by Seller from, and no
notice or filing is required to be given by, Seller to or made by Seller with,
any Governmental Authority or other person in connection with the execution,
delivery and performance by Seller of this Agreement.

          (c)  The execution and delivery by Seller of this Agreement and the
Transaction Documents to which it is a party do not, and the consummation by
Seller of the transactions contemplated hereby or thereby will not (i) violate
or conflict with, or result (with the giving of notice or lapse of time or both)
in a violation of or constitute a default (or give rise to any right of
termination, cancellation or acceleration) under any of the terms, conditions or
provisions of any note, agreement or other instrument or obligation to which
Seller is a party or by which any of its assets may be bound, except for such
violations or defaults (or rights of termination, cancellation or acceleration)
as to which requisite waivers or consents have been obtained or (iii) violate
any order, writ, injunction, decree, statute, rule or regulation applicable to
Seller or any of its assets.

     2.3. Litigation.  There is no litigation, action, claim, proceeding or
          ----------
governmental investigation pending or, to the knowledge of Seller, threatened
against Seller which may affect Seller's ability to perform his obligations
under this Agreement.

                                   SECTION 3

                    Representations and Warranties of Buyer

     Buyer represents and warrants to Seller as follows:

                                       6
<PAGE>

     3.1. Requisite Power.  Buyer has all requisite corporate power to execute
          ---------------
and deliver this Agreement and to carry out and perform its obligations under
the terms of this Agreement and the Transaction Documents to which it is a
party.

     3.2. Authorization.  All action on the part of Buyer necessary for the
          -------------
authorization, execution, delivery and performance of this Agreement and the
Transaction Documents to which it is a party has been taken and remains in full
force and effect.  This Agreement constitutes, and the Transaction Documents to
which Buyer is a party will each constitute, the valid and binding obligation of
Buyer enforceable against Buyer in accordance with its terms.

     3.3. No Conflict.  The execution, delivery and performance of this
          -----------
Agreement and any of the Transaction Documents to which it is a party by Buyer
have not resulted and will not result in, nor will consummation of the
transactions contemplated hereby or thereby result in, any violation of, or
conflict with, or constitute a default under, any of its charter documents, or
result in any material violation of, or conflict with, or constitute a default
under, any of its material agreements; and there exists no such violation or
default that does or could materially and adversely affect the ability of Buyer
to consummate its obligations hereunder.

     3.4. Governmental Consents, etc.  No consent, approval or authorization of
          --------------------------
or designation, declaration, or filing with any Authority on the part of Buyer
is required in connection with the valid execution and delivery of this
Agreement or any Transaction Document to which it is a party or the consummation
of the transactions contemplated thereby or thereby.

     3.5. Brokers or Finders.  Buyer has not incurred, and will not incur,
          ------------------
directly or indirectly, any liability for brokerage or finders' fees or agents'
commissions or any similar charges in connection with this Agreement or any
transaction contemplated hereby.

     3.6. Organization and Qualification.  Buyer is a corporation duly
          ------------------------------
organized, validly existing and in good standing under the laws of the State of
Delaware and has the corporate power to carry on its business as it is now being
conducted or currently proposed to be conducted and is qualified to do business
in each jurisdiction where such qualification is required except where the
failure to be so qualified would not have a material adverse effect.

     3.7. Validity of Shares to be Issued.  The issuance of the shares of Buyer
          -------------------------------
Common Stock to Seller under this Agreement has been duly authorized by all
necessary corporate action, and, upon issuance in accordance with the terms of
this Agreement, will be validly issued, fully paid and nonassessable and issued
free of pre-emptive rights.

     3.8. No Brokers or Finders.  No Person is or will be entitled to receive
          ---------------------
from Seller any brokers', finders' or similar fee or commission in connection
with the transaction contemplated by Agreement on account of services rendered
to Buyer.

     3.9. Reports.  Buyer has made available to Seller true and complete copies
          -------
of the Shelf Registration Statement (as defined below) and any other reports or
registration statements filed by Buyer with the Securities Exchange Commission
("Commission") since November 1999, except for preliminary material, which are
all the documents that Buyer was required to file with the Commission since that
date (collectively, the "Buyer SEC Reports").  As of their respective

                                       7
<PAGE>

dates, the Buyer SEC Reports complied as to form in all material respects with
the requirements of the Securities Act or the Securities Exchange Act of 1934,
as amended (the "Securities Exchange Act"), as the case may be, and the rules
and regulations of the Commission thereunder applicable to the Buyer SEC
Reports. As of their respective dates, the Buyer SEC Reports did not contain any
untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading.

     3.10. Effectiveness of Registration of Buyer Stock.  All of the registered
           --------------------------------------------
Buyer Stock contemplated to by issued by Buyer pursuant to Section 1.5 of this
Agreement has been duly registered under the Securities Act of 1933, as amended
(the "Securities Act"), pursuant to the registration statement filed November
22, 1999 of Buyer on Form S-4 under the Securities Act pursuant to Rule 415
under the Securities Act (the "Shelf Registration Statement").  The Shelf
Registration Statement became effective on December 14, 1999 and remains
effective as of the date hereof.

                                   SECTION 4

                                    Closing

     4.1.  Conditions to Obligation of Buyer.  The obligation of Buyer to
           ---------------------------------
consummate the transactions to be performed by it in connection with the Closing
is subject to satisfaction of the following conditions;

           (a) the representations and warranties set forth in Section 2 above
shall be true and correct in all material respects at and as of the Closing
Date;

           (b) Seller shall have provided evidence reasonably satisfactory to
Buyer's counsel that prior to the Closing Date, Seller has exercised all of its
outstanding options of Target and converted such options into shares of capital
stock of Target;

           (c) the exercise price to be paid by Seller in respect of the options
has been paid to the Target and all options held by Seller have been converted
into shares of common stock of the Target;

           (d) no action, suit, or proceeding is pending before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction or before any arbitrator wherein an unfavorable injunction,
judgment, order, decree, ruling or charge would (A) prevent consummation of any
of the transactions contemplated by this Agreement, (B) cause any of the
transactions contemplated by this Agreement to be rescinded following
consummation or (C) affect adversely the right of Buyer to acquire the
Securities (and no such injunction, judgment, order, decree, ruling or charge
shall be in effect);

           (e) Seller shall have delivered to Buyer a certificate signed by
Seller to the effect that each of the conditions specified above in Section
4.1(a) through (c) is true in all respects;

           (f) Buyer shall have received, from or on behalf of Seller or other
applicable party, delivery of all the Closing Documents listed in Section 4.3
below;

                                       8
<PAGE>

          (g)  the closing of the transactions contemplated by the Purchase
Agreement shall be occurring; and

          (h)  all actions to be taken by Seller in connection with consummation
of the transactions contemplated hereby and by the other Transaction Documents
and all certificates, opinions, instruments and other documents required to
effect the transactions contemplated hereby and thereby will be reasonably
satisfactory in form and substance to Buyer.

                    Buyer may waive any condition specified in this Section 4.1
if it executes a writing so stating at the Closing.

     4.2. Conditions to Obligations of Seller.  The obligations of Seller to
          -----------------------------------
consummate the transactions to be performed by them in connection with the
Closing is subject to satisfaction of the following conditions:

          (a)  the representations and warranties set forth in Section 3 above
shall be true and correct in all material respects at and as of the Closing
Date;

          (b)  no action, suit, or proceeding is pending before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction or before any arbitrator wherein an unfavorable injunction,
judgment, order, decree, ruling or charge would (A) prevent consummation of any
of the transactions contemplated by this Agreement or (B) cause any of the
transactions contemplated by this Agreement to be rescinded following
consummation (and no such injunction, judgment, order, decree, ruling or charge
shall be in effect);

          (c)  Seller shall have received from Buyer all of the Closing
Documents listed in Section 4.4 below;

          (d)  the closing of the transactions contemplated by the Purchase
Agreement shall be occurring; and

          (e)  Buyer shall have delivered to Seller a certificate signed by an
executive officer of Buyer to the effect that each of the conditions specified
above in Section 4.2(a) through (c) is true in all respects.

                    Seller may waive any condition specified in this Section 4.2
if it executes a writing so stating at the Closing.

     4.3. Seller Deliveries. Simultaneously with the Closing of the
          -----------------
transactions contemplated by this Agreement, the following documents shall be
executed and/or delivered by Seller to Buyer:

          (a)  the certificates representing Target's options, together with
stock powers executed in blank and any certificates or documents representing
the Target options;

          (b)  a release signed by Seller, of rights to options of Target set
forth on Exhibit A hereto

                                       9
<PAGE>

          (c)  the Employment Agreement between Seller and Buyer in
substantially the form annexed hereto as Exhibit B (the "Employment Agreement");
and

          (d)  the other Transaction Documents.

     4.4. Buyer Deliveries.  Simultaneously with the Closing of the transactions
          ----------------
contemplated by this Agreement, the following documents or items shall be
executed and/or delivered by Buyer to Seller or other applicable party:

          (a)  the Employment Agreement;

          (b)  the Closing Date Cash Payment; and

          (c)  the Closing Date Block of Buyer Common Stock.

                                   SECTION 5

                                   Covenants

     5.1. Covenants Pending Closing.
          -------------------------

          (a)  Each party shall cooperate in obtaining all required consents,
audits, and completion of other transactions contemplated to have occurred as of
the Closing and to use best efforts to cause the fulfillment of the conditions
to the other party's obligation to consummate the transactions contemplated
hereby. In that regard, Seller shall have the affirmative obligation to exercise
its options of Target prior to the Closing Date and pay the exercise price per
share in connection therewith.

          (b)  Each party will give to the other prompt written notice of any
material adverse change in any fact or circumstance respecting which a
representation, warranty, covenant or agreement has been made by it herein.

     5.2. Post-Closing Covenants.
          ----------------------

          (a)  From and after the Closing, Seller shall execute all such
instruments or documents and take all such other actions as Buyer may reasonably
request to effectuate the transactions contemplated hereby, including, without
limitation obtaining of any necessary or advisable consents not required by
Buyer prior to Closing in connection with the transactions contemplated hereby.

          (b)  Seller shall indemnify (pro rata, based on the Purchase Price
receivable by each party comprising Seller), defend and hold harmless Buyer, its
officers, directors, employees, partners, members, shareholders, Affiliates (and
their officers, directors, employees, members, partners and shareholders) and
agents (collectively, the "Buyer Indemnified Parties") from and against any
action, loss, liability, damage, claim, fine, penalty, lien or expense,
including reasonable legal costs, attorneys' fees and expenses (collectively,
"Buyer Loss"), to the extent the same arises out of any breach by Seller of any
representation, warranty, agreement or covenant made by Seller herein or in any
Transaction Document.

                                       10
<PAGE>

          (c)  Buyer shall indemnify, defend and hold harmless Seller from and
against any action, loss, liability, damage, claim, fine, penalty, lien,
interest or expense, including without limitation, reasonable legal costs,
attorneys' fees and expenses (collectively, "Seller Loss"), to the extent the
same arises out of breach by Buyer of any representation, warranty, agreement or
covenant made by Buyer herein or in any Transaction Document.

          (d)  Seller hereby agrees that it will sell shares of Buyer Common
Stock only in compliance with applicable federal and state securities laws.

                                   SECTION 6

                                 Miscellaneous

     6.1. Governing Law.  This Agreement shall be governed in all respects by
          -------------
the laws of the State of New York, without giving effect to any choice or
conflict of law provision or rule (whether of the State of New York or any other
jurisdiction that would cause the application of the laws of any jurisdiction
other that the State of New York).

     6.2. Survival.  The representations and warranties made herein shall
          --------
survive any investigation made by the parties and the Closing of the
transactions contemplated hereby.  Except as expressly provided otherwise
herein, the covenants and agreements made herein shall survive the Closing of
the transactions contemplated hereby for a period of 18 months from the Closing
Date; provided, that, notwithstanding the foregoing, the representations and
      --------  ----
warranties set forth in Section 2.1 and Section 2.2(a) in their entirety shall
survive forever; provided, further, that notwithstanding anything to the
                 --------  -------
contrary contained in this Agreement, with respect to any claim of intentional
fraud on the part of Seller, Seller will not have the benefit of any of the
limitations of this Section 6.2.

     6.3. Successors and Assigns.  Except as otherwise provided herein, the
          ----------------------
provisions hereof shall inure to the benefit of, and be binding upon, the
successors, assigns, heirs, executors and administrators of the parties hereto.
No party may assign any of its rights or obligations hereunder without the
express written consent of the other party hereto, which consent may not be
unreasonably withheld; provided, however, any party may assign any and all of
                       --------  -------
its rights and interests hereunder to one or more of its affiliates and
designate one or more of its affiliates to perform its obligations hereunder;
provided, however, that such party remains liable for full and total performance
of its obligations hereunder.

     6.4. Notices.  Any notices authorized to be given hereunder shall be in
          -------
writing and deemed given, if delivered personally or by overnight courier, on
the date of delivery, if a Business Day, or if not a Business Day, on the first
Business Day following delivery, or if mailed, three days after mailing by
registered or certified mail, return receipt requested, and in each case,
addressed, as follows:

                                       11
<PAGE>

          If to Buyer:

          EarthWeb Inc.
          Three Park Avenue, 38th Floor
          New York, NY 10016
          Facsimile: (212) 725-6559
          Attention: Jack D. Hidary, President

          and a copy to:

          John Hempill, Esq.
          Morrison & Foerster LLP
          1290 Avenue of the Americas
          New York, NY 10104-0185
          Facsimile: (212) 468-7900

          If to Seller:

          At the address set forth under Seller's name and signature on the
          signature page hereto.

          and a copy to:

          Brian T. Casey, Esq.
          Morris, Manning & Martin, LLP
          1600 Atlanta Financial Center
          Atlanta, Georgia 30326
          Facsimile: (404) 365-9532

or if delivered by telecopier, on a Business Day before 4:00 PM local time of
addressee, on transmission confirmed electronically, or if at any other time or
day on the first Business Day succeeding transmission confirmed electronically,
to the facsimile numbers provided above, or to such other address or telecopy
number as any party shall specify to the other, pursuant to the foregoing notice
provisions.

     6.5. Waiver; Amendments.  This Agreement and the Transaction Documents, (i)
          ------------------
set forth the entire agreement of the parties respecting the subject matter
hereof, (ii) supersede any prior and contemporaneous understandings, agreements,
or representations by or among the parties, written or oral, to the extent they
related in any way to the subject matter hereof and (iii) may not be amended
orally, and no right or obligation of any party may be altered, except as
expressly set forth in a writing signed by such party.

     6.6. Counterparts.  This Agreement may be signed in several counterparts.
          ------------

     6.7. Expenses.  Each party shall bear its own expenses incurred with
          --------
respect to the preparation of this Agreement and the consummation of the
transactions contemplated hereby.

                                       12
<PAGE>

     6.8.  Arbitration.
           -----------

           (a) If at any time there shall be a dispute arising out of or
relating to any provision of this Agreement, any Transaction Document or any
agreement contemplated hereby or thereby, such dispute shall be submitted for
binding and final determination by arbitration in accordance with the
regulations then obtaining of the American Arbitration Association. Judgment
upon the award rendered by the arbitrator(s) resulting from such arbitration
shall be in writing, and shall be final and binding upon all involved parties.
The site of any arbitration shall be within New York City, New York.

           (b) This arbitration clause shall survive the termination of this
Agreement, any Transaction Document and any agreement contemplated hereby or
thereby.

     6.9.  Waiver of Jury Trial; Exemplary Damages.  THE PARTIES HERETO HEREBY
           ---------------------------------------
WAIVE THEIR RIGHTS TO TRIAL BY JURY WITH RESPECT TO ANY DISPUTE ARISING UNDER
THIS AGREEMENT AND ANY TRANSACTION DOCUMENT (OTHER THAN THE EMPLOYMENT
AGREEMENT).  No party shall be awarded punitive or other exemplary damages
respecting any dispute arising under this Agreement or any Transaction Document
contemplated hereby.

     6.10. Attorneys' Fees.  The unsuccessful party to any court or other
           ---------------
proceeding arising out of this Agreement or any Transaction Document that is not
resolved by arbitration under Section 6.8 shall pay to the prevailing party all
attorneys' fees and costs actually incurred by the prevailing party, in addition
to any other relief to which it may be entitled.  Otherwise, attorneys' fees
shall be paid in accordance with the judgment rendered.  As used in this Section
6.10 and elsewhere in this Agreement, "actual attorneys' fees" or "attorneys'
fees actually incurred" means the full and actual cost of any legal services
actually performed in connection with the matter for which such fees are sought,
calculated on the basis of the usual fees charged by the attorneys performing
such services, and shall not be limited to "reasonable attorneys' fees" as the
term may be defined in statutory or decisional Authority.

     6.11. Transaction Documents.  When used in this Agreement, the term
           ---------------------
"Transaction Documents" shall mean this Agreement and the Employment Agreement.

     6.12. Business Day.  When used in this Agreement, the term "Business Day"
           ------------
shall mean a day other than a Saturday, Sunday or a day on which commercial
banks in New York City are generally closed for business.

     6.13. Termination.
           -----------

           (a) This Agreement may be terminated prior to the Closing as follows:

                    (i)  at the election of Seller, if any one or more of the
     conditions to its obligation to close set forth in Section 4.2 of this
     Agreement has not been fulfilled as of the Closing Date;

                                       13
<PAGE>

                    (ii)  at the election of the Buyer, if any one or more of
     the conditions to its obligation to close set forth in Section 4.1 of this
     Agreement has not been fulfilled as of the Closing Date;

                    (iii) at the election of Buyer or Seller if, prior to the
     Closing, the other has breached any material representation, warranty,
     covenant or agreement contained in this Agreement;

                    (iv)  at the election of Buyer, if any legal proceeding is
     commenced or threatened by any governmental agency or other person directed
     against the consummation of the Closing or any other material transaction
     contemplated under this Agreement or the other Transaction Documents and
     the Buyer, on the advice of legal counsel, reasonably and in good faith
     deems it impractical or inadvisable to proceed in view of such legal
     proceeding or threat thereof;

                    (v)   at any time on or prior to the Closing Date, by mutual
     written consent of Seller and Buyer; or

                    (vi)  by any party after the Termination Date, unless the
     Termination Date has been extended by the mutual written consent of Seller
     and Buyer.

          (b)  If any party terminates this Agreement pursuant to this Section
6.13(a), all rights and obligations of the parties hereunder shall terminate
without any liability of any party hereto to any other party (except for any
liability of any party then in breach).

                                       14
<PAGE>

     IN WITNESS WHEREOF, the undersigned have executed this Securities Purchase
Agreement as of the date first written above.

                              EARTHWEB INC.

                              By:_________________________________
                                 Name:  Murray Hidary
                                 Title: Executive Vice President

                              SELLER:

                              ____________________________________
                              Deanne Brown
                              ADDRESS: ___________________________
                                       ___________________________
                                       ___________________________

                                       15
<PAGE>

                                   EXHIBIT A

*** CONFIDENTIAL TREATMENT REQUESTED 46

<PAGE>

                                   Exhibit B

                             Employment Agreement
<PAGE>

                                   Exhibit C
<PAGE>

                                                                  EXECUTION COPY
                        OPTION HOLDER PURCHASE AGREEMENT

     This Option Holder Purchase Agreement (this "Agreement") is made this 13th
day of January, 2000, by and between EarthWeb Inc., a Delaware corporation
("Buyer"), and Jack Freemen ("Seller").

                                R E C I T A L S:

     WHEREAS, Buyer desires to purchase, and Seller desires to sell, assign and
transfer to Buyer all of the capital stock in Measure Up, Inc. ("Target") which
Seller owns (which amount of shares is set forth on Exhibit A to this Agreement)
or in which Seller has an interest (through options or otherwise), all on the
terms and subject to the conditions hereinafter set forth as part of that
certain Securities Purchase Agreement dated January 13, 2000, by and between
Buyer, Target, Kevin R. Brice and Robert M. M. Holtackers (the "Purchase
Agreement"). All of the securities or interests in securities of Target, which
are to be purchased by Buyer pursuant to this Agreement, are collectively
referred to hereinafter as the "Securities."

     NOW, THEREFORE, in consideration of the foregoing premises and the mutual
promises, agreements, representations, warranties and covenants herein
contained, the parties hereby agree as follows:

                                   SECTION 1

                                    Closing

     1.1.   Closing Date.  The closing (the "Closing") of the transactions
            ------------
contemplated hereby shall be held at the offices of counsel to Buyer, Morrison &
Foerster LLP, 1290 Avenue of the Americas, 40th Floor, New York, New York 10104-
0050 and shall take place no later than sixty (60) days from the date of this
Agreement (the "Termination Date") or such other date and place as may be
mutually agreed upon by the parties (the "Closing Date").

     1.2.   Purchase and Sale of Securities.  On the terms and subject to the
            -------------------------------
conditions herein set forth, Buyer shall purchase from Seller all of the
Securities, as of the Closing Date.

     1.3.   Method of Conveyance.
            --------------------

            (a) The sale, transfer, conveyance, assignment and delivery by
Seller of the Securities to Buyer shall be effected on the Closing Date by the
delivery of the Securities and execution of customary stock powers, duly
guaranteed, and other appropriate documents by Seller, as appropriate
(collectively, the "Instruments of Conveyance"), to Buyer.

            (b) At the Closing, good and valid title to all of the Securities
shall be transferred, conveyed, assigned and delivered by Seller to Buyer
pursuant to this Agreement and the

                                       1
<PAGE>

Instruments of Conveyance, free and clear of any and all Liens (as defined
below). For the purposes of this Agreement, the term "Lien" shall mean any
pledge, security interest, encumbrance, lien or charge of any kind whatsoever.

     1.4.   Purchase Price.
            --------------

     The aggregate purchase price for the Securities (the "Purchase Price") is
up to a dollar amount determined by multiplying Twenty Five Million Dollars
($25,000,000) by the percentage ownership by Seller of the Target on a fully
diluted basis (as set forth in Exhibit A hereto; the percentage ownership by
Seller of the Target on a fully diluted basis is referred to herein as the
"Seller Percentage"):

            (a) at the Closing, Buyer shall pay to Seller in cash, the product
of (i) Four Million Dollars ($4,000,000) multiplied by (ii) the Seller
Percentage (the "Closing Date Cash Payment");

            (b) at the Closing, Buyer shall deliver to Seller the Seller
Percentage of registered shares of Buyer's common stock, $.01 par value ("Buyer
Common Stock"), having an aggregate value of Six Million Dollars ($6,000,000)
(the "Closing Date Block of Buyer Common Stock") multiplied by the Seller
Percentage, such number of shares to be determined by taking the average of the
closing prices of Buyer Common Stock on the Nasdaq National Market (the "Average
Price")during the five (5) trading days immediately preceding the Closing Date
and dividing such Average Price into $6,000,000 (the "Closing Price") (provided,
                                                                       --------
however, that instead of delivering to Seller shares of Buyer Common Stock
-------
having an aggregate value of $6,000,000 multiplied by the Seller Percentage,
Buyer may pay Seller all or part of such amount in cash);

            (c) upon the three-month anniversary of the Closing Date (the
"Three-Month Anniversary Date"), Buyer shall pay to Seller in cash, the product
of (i) Two Million Five Hundred Thousand Dollars ($2,500,000) multiplied by (ii)
the Seller Percentage;

            (d) upon the six-month anniversary of the Closing Date (the "Six-
Month Anniversary Date"), Buyer shall pay to Seller in cash, the product of (i)
Two Million Five Hundred Thousand Dollars ($2,500,000) multiplied by (ii) the
*** Seller Percentage;

*** CONFIDENTIAL TREATMENT REQUESTED 47

            (e) if the Year One Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the one-year anniversary of the Closing Date (the
"One-Year Anniversary Date") Buyer shall pay to Seller, in cash, an amount equal
to the product of (i) the Seller Percentage and (ii) $*** (such product, the
"Year One Earn-out Amount"). Notwithstanding the foregoing, if only $*** of the
Year One Earn-out Threshold has been achieved, then Seller shall receive 25% of
the Year One Earn-out Amount, but to be paid in the same manner as the Year One
Earn-out Amount; provided further, to the extent that between $*** and $*** of
the Year One Earn-out Threshold has been achieved, then Seller shall receive 25%
of the Year One Earn-out Amount plus an amount equal to the product of (i) 75%
of the Year One Earn-out Amount and (ii) a fraction the numerator of which is
the amount by which Invoiced Revenues (as defined herein) exceeds $*** and the
denominator of which is ***; in any case, to be paid in the same manner as the
Year One Earn-out

                                       2
<PAGE>

Amount; provided further, to the extent Target produces an Integrated Assessment
Product (as defined herein) (i) on or prior to June 30, 2000, the Seller shall
be entitled to receive the entire amount of the Year One Earn-out Amount it is
entitled to receive under the terms of this paragraph, (ii) after June 30, 2000
but on or prior to September 1, 2000, then Seller shall be entitled to receive
only 85% of the Year One Earn-out Amount it is entitled to receive under the
terms of this paragraph, (iii) after September 1, 2000, then Seller shall be
entitled to receive only 80% of the Year One Earn-out Amount it is entitled to
receive under the terms of this paragraph;

*** CONFIDENTIAL TREATMENT REQUESTED 48

            (f) if the Year Two Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the two-year anniversary of the Closing Date (the
"Two-Year Anniversary Date") Buyer shall pay to Seller, in cash, an amount equal
to the product of (i) the Seller Percentage and (ii) $*** (such product, the
"Year Two Earn-out Amount"). Notwithstanding the foregoing, if only $*** of the
Year Two Earn-out Threshold has been achieved, then Seller shall receive 25% of
the Year Two Earn-out Amount, but to be paid in the same manner as the Year Two
Earn-out Amount; provided further, to the extent that between $*** and $*** of
the Year Two Earn-out Threshold has been achieved, then Seller shall receive 25%
of the Year Two Earn-out Amount plus an amount equal to the product of (i) 75%
of the Year Two Earn-out Amount and (ii) a fraction the numerator of which is
the amount by which Invoiced Revenues (as defined herein) exceeds $*** and the
denominator of which is ***; in any case, to be paid in the same manner as the
Year Two Earn-out Amount; and

*** CONFIDENTIAL TREATMENT REQUESTED 49

            (g) if the Year Three Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the three-year anniversary of the Closing Date (the
"Three-Year Anniversary Date") Buyer shall pay to Seller, in cash, the an amount
equal to the product of (i) the Seller Percentage and (ii) $*** (such product,
the "Year Three Earn-out Amount"). Notwithstanding the foregoing, if only $***
of the Year Three Earn-out Threshold has been achieved, then Seller shall
receive 25% of the Year Three Earn-out Amount, but to be paid in the same manner
as the Year Three Earn-out Amount; provided further, to the extent that between
$*** and $*** of the Year Three Earn-out Threshold has been achieved, then
Seller shall receive 25% of the Year Three Earn-out Amount plus an amount equal
to the product of (i) 75% of the Year Three Earn-out Amount and (ii) a fraction
the numerator of which is the amount by which Invoiced Revenues (as defined
herein) exceeds $*** and the denominator of which is ***; in any case, to be
paid in the same manner as the Year Three Earn-out Amount.

     1.5.   Method of Payment. Except as otherwise expressly provided herein,
            -----------------
all cash payments from one party to another under this Agreement shall be made
by check or wire transfer in United States dollars to an address designated in
writing by the party to receive such payment. To the extent that any payment of
cash is scheduled to be made on an anniversary date of the Closing Date which is
not a Business Day (as defined in Section 6.12), then such payment or delivery
will be made on the Business Day immediately following such anniversary date.

     1.6.   Contingent Consideration and Post-Closing Consideration.
            -------------------------------------------------------

            (a) The consideration described in clauses 1.4(c), (d), (e), (f) and
(g) shall collectively be referred to herein as the "Post-Closing Consideration"
and the consideration

                                       3
<PAGE>

described in clauses 1.4(e), (f) and (g) shall collectively be referred to
herein as the "Contingent Consideration".

*** CONFIDENTIAL TREATMENT REQUESTED 50

            (b) ***

            (c) [RESERVED]

            (d) To the extent required by applicable Tax laws, the Post-Closing
Consideration shall be treated as interest (or original issue discount) for Tax
purposes.  For purposes of this Agreement, "Tax" or "Taxes" shall mean any
federal, state, local or foreign income, gross receipts, license, payroll,
employment, excise, severance, stamp, occupation, premium, windfall profits,
environmental, customs duties, capital stock, property, franchise, profits,
withholding, social security (or similar), sales, use, transfer, registration,
value added, alternative or add-on minimum, estimated or other tax of any kind
whatsoever, including any interest, penalty or addition thereto, imposed by any
United States federal, state or local taxing Authority, or any foreign taxing
Authority.

     1.7.   Conditions for Delivery of Contingent Consideration.
            ---------------------------------------------------

            (a)   For the purpose of computing the Contingent Consideration,
Buyer may be obligated to pay Seller:

            (i)   "Organic Business" shall refer to the business of the Target
     as conducted as of the date hereof and other related web-based business or
     certification and assessment business.

            (ii)  "Acquired Business" shall refer to any of Buyer's acquisitions
     completed after the Closing Date of businesses substantially similar to the
     Organic Business or assets of a business substantially similar to the
     Organic Business; provided, however, this shall not include any revenues
     generated by All Rossi, Inc. d/b/a CCPrep ("CCPrep") either on or via its
     website or other on-line activities.

            (iii) "Organic Revenues" shall mean the Target's revenues from the
     conduct of the Organic Business as reflected in the September 1999
     Financial Statements plus revenues generated by CCPrep either on or via its
     website or other on-line activities excluding revenues derived from any on-
     line banner advertising.

            (iv)  "Acquired Revenues" shall mean any amount of revenue directly
     attributable to an Acquired Business for a given fiscal year in excess of
     an amount of revenue for such Acquired Business determined by multiplying
     (A) the revenues for such Acquired Business for the two (2) full calendar
     months immediately preceding the

                                       4
<PAGE>

     consummation of the acquisition of such Acquired Business by (B) six (6).

           (v)    "GAAP Revenue Recognition Period" shall mean the period of
     time over which revenue is recognized in accordance with GAAP. This period
     is currently nine months and, notwithstanding any changes to the duration
     of such period in accordance with GAAP after the date hereof, the
     calculation of the Contingent Consideration hereunder shall not be affected
     by such changes.

           (vi)   "Invoiced Revenue" shall mean Organic Revenue not adjusted for
     revenue recognized for the GAAP Revenue Revenue Period plus Acquired
     Revenues, but net of returns of product, as well as allowances and write-
     offs of uncollectible receivables (other than uncollectible receivables
     written off in the ordinary course of business).  Invoiced Revenue shall
     not be adjusted for the GAAP Revenue Recognition Period.

     *** CONFIDENTIAL TREATMENT REQUESTED 51

           (vii)  "Year One Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2000.

     *** CONFIDENTIAL TREATMENT REQUESTED 52

           (viii) "Year Two Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2001.

     *** CONFIDENTIAL TREATMENT REQUESTED 53

           (ix)   "Year Three Earn-out Threshold" shall refer to *** Dollars
     ($***) of Invoiced Revenue for fiscal year ended December 31, 2002.

           (x)    "Integrated Assessment Product" shall refer to the successful
     development and implementation of an integrated assessment product by Kevin
     Brice in cooperation with EW Career Solutions, Inc. ("EW"), a subsidiary of
     Buyer that operates the Dice.com business, utilizing adaptive learning
     technologies to assess the skill level of the test taker and which shall be
     integrated into the EW system.  The subject areas for which this product
     shall be developed are identified on Exhibit C hereto.

           (b)  Each payment of Contingent Consideration required to be paid
pursuant to the terms of this Agreement shall be paid by Buyer to the Seller as
promptly as practicable following the first business day of April following the
applicable measurement period for the Invoiced Revenues (which shall be not
later than the fifth business day of April).

           (c)  In the event that Buyer sells all or substantially all of the
Organic Business, then Buyer shall ensure that all of its obligations hereunder
with respect to the payment of Contingent Consideration shall be assumed in all
material respects to the acquiror of such Organic Business.

           (d)  Buyer shall operate the Organic Business from and after the
Closing Date in the ordinary course of business.

     1.8.  Withholding for Options.  Buyer and Seller agree that all
           -----------------------
withholding, if any, will be made with respect to the Securities.

                                       5
<PAGE>

                                   SECTION 2

              Individual Representations and Warranties of Seller

     Seller represents and warrants to Buyer as of the date of this Agreement as
follows:

      2.1.  Capital Stock.  Seller is the owner, beneficially and of record, of
            -------------
the Securities set forth opposite such person's name on Exhibit A hereto.  The
Securities will not be subject to any liens or restrictions on transfer, other
than restrictions imposed by applicable securities laws and, upon the transfer
of the Securities to Buyer, Buyer will obtain good and marketable title to the
Securities, free and clear of all liens, claims and encumbrances of any kind.
At the Closing Date, other than the affirmative obligation of Seller to exercise
its options and convert them into shares of capital stock of Target, there will
be no authorized or outstanding option, subscription, warrant, call, right,
commitment or other agreement obligating Seller to issue or transfer any of its
Securities.  Seller is not a party to any voting trust, proxy or other agreement
or understanding with respect to the Securities.

     2.2.   Authorization; Consents; Enforceability.
            ---------------------------------------

           (a) This Agreement and the Transaction Documents to which Seller is a
party or a signatory, have been duly authorized, executed and delivered by
Seller and constitute the legal, valid and binding obligation of Seller
enforceable in accordance with their respective terms subject to applicable
bankruptcy, insolvency and similar laws affecting creditors' rights generally
and to general principles of equity.

            (b) No Consent is required to be obtained by Seller from, and no
notice or filing is required to be given by, Seller to or made by Seller with,
any Governmental Authority or other person in connection with the execution,
delivery and performance by Seller of this Agreement.

            (c) The execution and delivery by Seller of this Agreement and the
Transaction Documents to which it is a party do not, and the consummation by
Seller of the transactions contemplated hereby or thereby will not (i) violate
or conflict with, or result (with the giving of notice or lapse of time or both)
in a violation of or constitute a default (or give rise to any right of
termination, cancellation or acceleration) under any of the terms, conditions or
provisions of any note, agreement or other instrument or obligation to which
Seller is a party or by which any of its assets may be bound, except for such
violations or defaults (or rights of termination, cancellation or acceleration)
as to which requisite waivers or consents have been obtained or (iii) violate
any order, writ, injunction, decree, statute, rule or regulation applicable to
Seller or any of its assets.

     2.3.   Litigation.  There is no litigation, action, claim, proceeding or
            ----------
governmental investigation pending or, to the knowledge of Seller, threatened
against Seller which may affect Seller's ability to perform his obligations
under this Agreement.

                                  SECTION 3

                    Representations and Warranties of Buyer

     Buyer represents and warrants to Seller as follows:

                                       6
<PAGE>

     3.1.   Requisite Power.  Buyer has all requisite corporate power to execute
            ---------------
and deliver this Agreement and to carry out and perform its obligations under
the terms of this Agreement and the Transaction Documents to which it is a
party.

     3.2.   Authorization.  All action on the part of Buyer necessary for the
            -------------
authorization, execution, delivery and performance of this Agreement and the
Transaction Documents to which it is a party has been taken and remains in full
force and effect.  This Agreement constitutes, and the Transaction Documents to
which Buyer is a party will each constitute, the valid and binding obligation of
Buyer enforceable against Buyer in accordance with its terms.

     3.3.   No Conflict.  The execution, delivery and performance of this
            -----------
Agreement and any of the Transaction Documents to which it is a party by Buyer
have not resulted and will not result in, nor will consummation of the
transactions contemplated hereby or thereby result in, any violation of, or
conflict with, or constitute a default under, any of its charter documents, or
result in any material violation of, or conflict with, or constitute a default
under, any of its material agreements; and there exists no such violation or
default that does or could materially and adversely affect the ability of Buyer
to consummate its obligations hereunder.

     3.4.   Governmental Consents, etc. No consent, approval or authorization of
            --------------------------
or designation, declaration, or filing with any Authority on the part of Buyer
is required in connection with the valid execution and delivery of this
Agreement or any Transaction Document to which it is a party or the consummation
of the transactions contemplated thereby or thereby.

     3.5.   Brokers or Finders.  Buyer has not incurred, and will not incur,
            ------------------
directly or indirectly, any liability for brokerage or finders' fees or agents'
commissions or any similar charges in connection with this Agreement or any
transaction contemplated hereby.

     3.6.   Organization and Qualification.  Buyer is a corporation duly
            ------------------------------
organized, validly existing and in good standing under the laws of the State of
Delaware and has the corporate power to carry on its business as it is now being
conducted or currently proposed to be conducted and is qualified to do business
in each jurisdiction where such qualification is required except where the
failure to be so qualified would not have a material adverse effect.

     3.7.   Validity of Shares to be Issued.  The issuance of the shares of
            -------------------------------
Buyer Common Stock to Seller under this Agreement has been duly authorized by
all necessary corporate action, and, upon issuance in accordance with the terms
of this Agreement, will be validly issued, fully paid and nonassessable and
issued free of pre-emptive rights.

     3.8.   No Brokers or Finders.  No Person is or will be entitled to receive
            ---------------------
from Seller any brokers', finders' or similar fee or commission in connection
with the transaction contemplated by Agreement on account of services rendered
to Buyer.

     3.9.   Reports. Buyer has made available to Seller true and complete copies
            -------
of the Shelf Registration Statement (as defined below) and any other reports or
registration statements filed by Buyer with the Securities Exchange Commission
("Commission") since November 1999, except for preliminary material, which are
all the documents that Buyer was required to file with the Commission since that
date (collectively, the "Buyer SEC Reports"). As of their respective

                                       7
<PAGE>

dates, the Buyer SEC Reports complied as to form in all material respects with
the requirements of the Securities Act or the Securities Exchange Act of 1934,
as amended (the "Securities Exchange Act"), as the case may be, and the rules
and regulations of the Commission thereunder applicable to the Buyer SEC
Reports. As of their respective dates, the Buyer SEC Reports did not contain any
untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading.

     3.10.  Effectiveness of Registration of Buyer Stock.  All of the registered
            --------------------------------------------
Buyer Stock contemplated to by issued by Buyer pursuant to Section 1.5 of this
Agreement has been duly registered under the Securities Act of 1933, as amended
(the "Securities Act"), pursuant to the registration statement filed November
22, 1999 of Buyer on Form S-4 under the Securities Act pursuant to Rule 415
under the Securities Act (the "Shelf Registration Statement").  The Shelf
Registration Statement became effective on December 14, 1999 and remains
effective as of the date hereof.

                                   SECTION 4

                                    Closing

     4.1.   Conditions to Obligation of Buyer.  The obligation of Buyer to
            ---------------------------------
consummate the transactions to be performed by it in connection with the Closing
is subject to satisfaction of the following conditions;

            (a) the representations and warranties set forth in Section 2 above
shall be true and correct in all material respects at and as of the Closing
Date;

            (b) Seller shall have provided evidence reasonably satisfactory to
Buyer's counsel that prior to the Closing Date, Seller has exercised all of its
outstanding options of Target and converted such options into shares of capital
stock of Target;

            (c) the exercise price to be paid by Seller in respect of the
options has been paid to the Target and all options held by Seller have been
converted into shares of common stock of the Target;

            (d) no action, suit, or proceeding is pending before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction or before any arbitrator wherein an unfavorable injunction,
judgment, order, decree, ruling or charge would (A) prevent consummation of any
of the transactions contemplated by this Agreement, (B) cause any of the
transactions contemplated by this Agreement to be rescinded following
consummation or (C) affect adversely the right of Buyer to acquire the
Securities (and no such injunction, judgment, order, decree, ruling or charge
shall be in effect);

            (e) Seller shall have delivered to Buyer a certificate signed by
Seller to the effect that each of the conditions specified above in Section
4.1(a) through (c) is true in all respects;

            (f) Buyer shall have received, from or on behalf of Seller or other
applicable party, delivery of all the Closing Documents listed in Section 4.3
below;

                                       8
<PAGE>

            (g) the closing of the transactions contemplated by the Purchase
Agreement shall be occurring; and

            (h) all actions to be taken by Seller in connection with
consummation of the transactions contemplated hereby and by the other
Transaction Documents and all certificates, opinions, instruments and other
documents required to effect the transactions contemplated hereby and thereby
will be reasonably satisfactory in form and substance to Buyer.

               Buyer may waive any condition specified in this Section 4.1 if it
executes a writing so stating at the Closing.

     4.2.   Conditions to Obligations of Seller.  The obligations of Seller to
            -----------------------------------
consummate the transactions to be performed by them in connection with the
Closing is subject to satisfaction of the following conditions:

            (a) the representations and warranties set forth in Section 3 above
shall be true and correct in all material respects at and as of the Closing
Date;

            (b) no action, suit, or proceeding is pending before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction or before any arbitrator wherein an unfavorable injunction,
judgment, order, decree, ruling or charge would (A) prevent consummation of any
of the transactions contemplated by this Agreement or (B) cause any of the
transactions contemplated by this Agreement to be rescinded following
consummation (and no such injunction, judgment, order, decree, ruling or charge
shall be in effect);

            (c) Seller shall have received from Buyer all of the Closing
Documents listed in Section 4.4 below;

            (d) the closing of the transactions contemplated by the Purchase
Agreement shall be occurring; and

            (e) Buyer shall have delivered to Seller a certificate signed by an
executive officer of Buyer to the effect that each of the conditions specified
above in Section 4.2(a) through (c) is true in all respects.

                 Seller may waive any condition specified in this Section 4.2 if
it executes a writing so stating at the Closing.

     4.3.   Seller Deliveries.  Simultaneously with the Closing of the
            -----------------
transactions contemplated by this Agreement, the following documents shall be
executed and/or delivered by Seller to Buyer:

            (a) the certificates representing Target's options, together with
stock powers executed in blank and any certificates or documents representing
the Target options;

            (b) a release signed by Seller, of rights to options of Target set
forth on Exhibit A hereto

                                       9
<PAGE>

            (c) the Employment Agreement between Seller and Buyer in
substantially the form annexed hereto as Exhibit B (the "Employment Agreement");
and

            (d) the other Transaction Documents.

     4.4.   Buyer Deliveries. Simultaneously with the Closing of the
transactions contemplated by this Agreement, the following documents or items
shall be executed and/or delivered by Buyer to Seller or other applicable party:

            (a)    the Employment Agreement;

            (b) the Closing Date Cash Payment; and

            (c) the Closing Date Block of Buyer Common Stock.

                                   SECTION 5

                                   Covenants

     5.1.    Covenants Pending Closing.
             -------------------------

            (a) Each party shall cooperate in obtaining all required consents,
audits, and completion of other transactions contemplated to have occurred as of
the Closing and to use best efforts to cause the fulfillment of the conditions
to the other party's obligation to consummate the transactions contemplated
hereby. In that regard, Seller shall have the affirmative obligation to exercise
its options of Target prior to the Closing Date and pay the exercise price per
share in connection therewith.

            (b) Each party will give to the other prompt written notice of any
material adverse change in any fact or circumstance respecting which a
representation, warranty, covenant or agreement has been made by it herein.

     5.2.   Post-Closing Covenants.
            ----------------------

            (a) From and after the Closing, Seller shall execute all such
instruments or documents and take all such other actions as Buyer may reasonably
request to effectuate the transactions contemplated hereby, including, without
limitation obtaining of any necessary or advisable consents not required by
Buyer prior to Closing in connection with the transactions contemplated hereby.

            (b) Seller shall indemnify (pro rata, based on the Purchase Price
receivable by each party comprising Seller), defend and hold harmless Buyer, its
officers, directors, employees, partners, members, shareholders, Affiliates (and
their officers, directors, employees, members, partners and shareholders) and
agents (collectively, the "Buyer Indemnified Parties") from and against any
action, loss, liability, damage, claim, fine, penalty, lien or expense,
including reasonable legal costs, attorneys' fees and expenses (collectively,
"Buyer Loss"), to the extent the same arises out of any breach by Seller of any
representation, warranty, agreement or covenant made by Seller herein or in any
Transaction Document.

                                       10
<PAGE>

            (c) Buyer shall indemnify, defend and hold harmless Seller from and
against any action, loss, liability, damage, claim, fine, penalty, lien,
interest or expense, including without limitation, reasonable legal costs,
attorneys' fees and expenses (collectively, "Seller Loss"), to the extent the
same arises out of breach by Buyer of any representation, warranty, agreement or
covenant made by Buyer herein or in any Transaction Document.

            (d) Seller hereby agrees that it will sell shares of Buyer Common
Stock only in compliance with applicable federal and state securities laws.

                                   SECTION 6

                                 Miscellaneous

     6.1.   Governing Law.  This Agreement shall be governed in all respects by
            -------------
the laws of the State of New York, without giving effect to any choice or
conflict of law provision or rule (whether of the State of New York or any other
jurisdiction that would cause the application of the laws of any jurisdiction
other that the State of New York).

     6.2.   Survival.  The representations and warranties made herein shall
            --------
survive any investigation made by the parties and the Closing of the
transactions contemplated hereby.  Except as expressly provided otherwise
herein, the covenants and agreements made herein shall survive the Closing of
the transactions contemplated hereby for a period of 18 months from the Closing
Date; provided, that, notwithstanding the foregoing, the representations and
      --------  ----
warranties set forth in Section 2.1 and Section 2.2(a) in their entirety shall
survive forever; provided, further, that notwithstanding anything to the
                 --------  -------
contrary contained in this Agreement, with respect to any claim of intentional
fraud on the part of Seller, Seller will not have the benefit of any of the
limitations of this Section 6.2.

     6.3.   Successors and Assigns.  Except as otherwise provided herein, the
            ----------------------
provisions hereof shall inure to the benefit of, and be binding upon, the
successors, assigns, heirs, executors and administrators of the parties hereto.
No party may assign any of its rights or obligations hereunder without the
express written consent of the other party hereto, which consent may not be
unreasonably withheld; provided, however, any party may assign any and all of
                       --------  -------
its rights and interests hereunder to one or more of its affiliates and
designate one or more of its affiliates to perform its obligations hereunder;
provided, however, that such party remains liable for full and total performance
of its obligations hereunder.

     6.4.   Notices.  Any notices authorized to be given hereunder shall be in
            -------
writing and deemed given, if delivered personally or by overnight courier, on
the date of delivery, if a Business Day, or if not a Business Day, on the first
Business Day following delivery, or if mailed, three days after mailing by
registered or certified mail, return receipt requested, and in each case,
addressed, as follows:

                                       11
<PAGE>

          If to Buyer:

          EarthWeb Inc.
          Three Park Avenue, 38th Floor
          New York, NY 10016
          Facsimile: (212) 725-6559
          Attention: Jack D. Hidary, President

          and a copy to:

          John Hempill, Esq.
          Morrison & Foerster LLP
          1290 Avenue of the Americas
          New York, NY  10104-0185
          Facsimile: (212) 468-7900

          If to Seller:

          At the address set forth under Seller's name and signature on the
          signature page hereto.

          and a copy to:

          Brian T. Casey, Esq.
          Morris, Manning & Martin, LLP
          1600 Atlanta Financial Center
          Atlanta, Georgia 30326
          Facsimile: (404) 365-9532

or if delivered by telecopier, on a Business Day before 4:00 PM local time of
addressee, on transmission confirmed electronically, or if at any other time or
day on the first Business Day succeeding transmission confirmed electronically,
to the facsimile numbers provided above, or to such other address or telecopy
number as any party shall specify to the other, pursuant to the foregoing notice
provisions.

     6.5.   Waiver; Amendments. This Agreement and the Transaction Documents,
            ------------------
(i) set forth the entire agreement of the parties respecting the subject matter
hereof, (ii) supersede any prior and contemporaneous understandings, agreements,
or representations by or among the parties, written or oral, to the extent they
related in any way to the subject matter hereof and (iii) may not be amended
orally, and no right or obligation of any party may be altered, except as
expressly set forth in a writing signed by such party.

     6.6.   Counterparts.  This Agreement may be signed in several counterparts.
            ------------

     6.7.   Expenses.  Each party shall bear its own expenses incurred with
            --------
respect to the preparation of this Agreement and the consummation of the
transactions contemplated hereby.

                                       12
<PAGE>

     6.8.   Arbitration.
            -----------

            (a) If at any time there shall be a dispute arising out of or
relating to any provision of this Agreement, any Transaction Document or any
agreement contemplated hereby or thereby, such dispute shall be submitted for
binding and final determination by arbitration in accordance with the
regulations then obtaining of the American Arbitration Association. Judgment
upon the award rendered by the arbitrator(s) resulting from such arbitration
shall be in writing, and shall be final and binding upon all involved parties.
The site of any arbitration shall be within New York City, New York.

            (b) This arbitration clause shall survive the termination of this
Agreement, any Transaction Document and any agreement contemplated hereby or
thereby.

     6.9.   Waiver of Jury Trial; Exemplary Damages.  THE PARTIES HERETO HEREBY
            ---------------------------------------
WAIVE THEIR RIGHTS TO TRIAL BY JURY WITH RESPECT TO ANY DISPUTE ARISING UNDER
THIS AGREEMENT AND ANY TRANSACTION DOCUMENT (OTHER THAN THE EMPLOYMENT
AGREEMENT).  No party shall be awarded punitive or other exemplary damages
respecting any dispute arising under this Agreement or any Transaction Document
contemplated hereby.

     6.10.  Attorneys' Fees.  The unsuccessful party to any court or other
            ---------------
proceeding arising out of this Agreement or any Transaction Document that is not
resolved by arbitration under Section 6.8 shall pay to the prevailing party all
attorneys' fees and costs actually incurred by the prevailing party, in addition
to any other relief to which it may be entitled.  Otherwise, attorneys' fees
shall be paid in accordance with the judgment rendered.  As used in this Section
6.10 and elsewhere in this Agreement, "actual attorneys' fees" or "attorneys'
fees actually incurred" means the full and actual cost of any legal services
actually performed in connection with the matter for which such fees are sought,
calculated on the basis of the usual fees charged by the attorneys performing
such services, and shall not be limited to "reasonable attorneys' fees" as the
term may be defined in statutory or decisional Authority.

     6.11.  Transaction Documents.  When used in this Agreement, the term
            ---------------------
"Transaction Documents" shall mean this Agreement and the Employment Agreement.

     6.12.  Business Day.  When used in this Agreement, the term "Business Day"
            ------------
shall mean a day other than a Saturday, Sunday or a day on which commercial
banks in New York City are generally closed for business.

     6.13.  Termination.
            -----------

            (a) This Agreement may be terminated prior to the Closing as
     follows:

               (i) at the election of Seller, if any one or more of the
conditions to its obligation to close set forth in Section 4.2 of this Agreement
has not been fulfilled as of the Closing Date;

                                       13
<PAGE>

               (ii) at the election of the Buyer, if any one or more of the
     conditions to its obligation to close set forth in Section 4.1 of this
     Agreement has not been fulfilled as of the Closing Date;

               (iii)  at the election of Buyer or Seller if, prior to the
     Closing, the other has breached any material representation, warranty,
     covenant or agreement contained in this Agreement;

               (iv) at the election of Buyer, if any legal proceeding is
     commenced or threatened by any governmental agency or other person directed
     against the consummation of the Closing or any other material transaction
     contemplated under this Agreement or the other Transaction Documents and
     the Buyer, on the advice of legal counsel, reasonably and in good faith
     deems it impractical or inadvisable to proceed in view of such legal
     proceeding or threat thereof;

               (v) at any time on or prior to the Closing Date, by mutual
     written consent of Seller and Buyer; or

               (vi) by any party after the Termination Date, unless the
     Termination Date has been extended by the mutual written consent of Seller
     and Buyer.

            (b) If any party terminates this Agreement pursuant to this Section
6.13(a), all rights and obligations of the parties hereunder shall terminate
without any liability of any party hereto to any other party (except for any
liability of any party then in breach).

                                       14
<PAGE>

     IN WITNESS WHEREOF, the undersigned have executed this Securities Purchase
Agreement as of the date first written above.

                       EARTHWEB INC.

                       By:______________________________
                          Name:   Murray Hidary
                          Title:  Executive Vice President

                       SELLER:

                       ___________________________
                       Jack Freeman
                       ADDRESS: __________________
                                __________________
                                __________________

                                       15
<PAGE>

                                   EXHIBIT A

*** CONFIDENTIAL TREATMENT REQUESTED 54

<PAGE>

                                   Exhibit B

                             Employment Agreement

<PAGE>

                                   Exhibit C

<PAGE>

                                                                  EXECUTION COPY

                       OPTION HOLDER PURCHASE AGREEMENT

     This Option Holder Purchase Agreement (this "Agreement") is made this 13th
day of January, 2000, by and between EarthWeb Inc., a Delaware corporation
("Buyer"), and Melissa Stover ("Seller").

                               R E C I T A L S:

     WHEREAS, Buyer desires to purchase, and Seller desires to sell, assign and
transfer to Buyer all of the capital stock in Measure Up, Inc. ("Target") which
Seller owns (which amount of shares is set forth on Exhibit A to this Agreement)
or in which Seller has an interest (through options or otherwise), all on the
terms and subject to the conditions hereinafter set forth as part of that
certain Securities Purchase Agreement dated January 13, 2000, by and between
Buyer, Target, Kevin R. Brice and Robert M. M. Holtackers (the "Purchase
Agreement"). All of the securities or interests in securities of Target, which
are to be purchased by Buyer pursuant to this Agreement, are collectively
referred to hereinafter as the "Securities."

     NOW, THEREFORE, in consideration of the foregoing premises and the mutual
promises, agreements, representations, warranties and covenants herein
contained, the parties hereby agree as follows:

                                   SECTION 1

                                    Closing

     1.1. Closing Date.  The closing (the "Closing") of the transactions
          ------------
contemplated hereby shall be held at the offices of counsel to Buyer, Morrison &
Foerster LLP, 1290 Avenue of the Americas, 40th Floor, New York, New York 10104-
0050 and shall take place no later than sixty (60) days from the date of this
Agreement (the "Termination Date") or such other date and place as may be
mutually agreed upon by the parties (the "Closing Date").

     1.2. Purchase and Sale of Securities.  On the terms and subject to the
          -------------------------------
conditions herein set forth, Buyer shall purchase from Seller all of the
Securities, as of the Closing Date.

     1.3. Method of Conveyance.
          --------------------

          (a)  The sale, transfer, conveyance, assignment and delivery by Seller
of the Securities to Buyer shall be effected on the Closing Date by the delivery
of the Securities and execution of customary stock powers, duly guaranteed, and
other appropriate documents by Seller, as appropriate (collectively, the
"Instruments of Conveyance"), to Buyer.

          (b)  At the Closing, good and valid title to all of the Securities
shall be transferred, conveyed, assigned and delivered by Seller to Buyer
pursuant to this Agreement and the

                                       1
<PAGE>

Instruments of Conveyance, free and clear of any and all Liens (as defined
below). For the purposes of this Agreement, the term "Lien" shall mean any
pledge, security interest, encumbrance, lien or charge of any kind whatsoever.

     1.4. Purchase Price.
          --------------

     The aggregate purchase price for the Securities (the "Purchase Price") is
up to a dollar amount determined by multiplying Twenty Five Million Dollars
($25,000,000) by the percentage ownership by Seller of the Target on a fully
diluted basis (as set forth in Exhibit A hereto; the percentage ownership by
Seller of the Target on a fully diluted basis is referred to herein as the
"Seller Percentage"):

          (a)  at the Closing, Buyer shall pay to Seller in cash, the product of
(i) Four Million Dollars ($4,000,000) multiplied by (ii) the Seller Percentage
(the "Closing Date Cash Payment");

          (b)  at the Closing, Buyer shall deliver to Seller the Seller
Percentage of registered shares of Buyer's common stock, $.01 par value ("Buyer
Common Stock"), having an aggregate value of Six Million Dollars ($6,000,000)
(the "Closing Date Block of Buyer Common Stock") multiplied by the Seller
Percentage, such number of shares to be determined by taking the average of the
closing prices of Buyer Common Stock on the Nasdaq National Market (the "Average
Price") during the five (5) trading days immediately preceding the Closing Date
and dividing such Average Price into $6,000,000 (the "Closing Price") (provided,
                                                                       --------
however, that instead of delivering to Seller shares of Buyer Common Stock
-------
having an aggregate value of $6,000,000 multiplied by the Seller Percentage,
Buyer may pay Seller all or part of such amount in cash);

          (c)  upon the three-month anniversary of the Closing Date (the "Three-
Month Anniversary Date"), Buyer shall pay to Seller in cash, the product of (i)
Two Million Five Hundred Thousand Dollars ($2,500,000) multiplied by (ii) the
Seller Percentage;

          (d)  upon the six-month anniversary of the Closing Date (the "Six-
Month Anniversary Date"), Buyer shall pay to Seller in cash, the product of (i)
Two Million Five Hundred Thousand Dollars ($2,500,000) multiplied by (ii) the
Seller Percentage;

*** CONFIDENTIAL TREATMENT REQUESTED 55

          (e) if the Year One Earn-out Threshold (as defined in Section 1.7) has
been achieved, then upon the one-year anniversary of the Closing Date (the "One-
Year Anniversary Date") Buyer shall pay to Seller, in cash, an amount equal to
the product of (i) the Seller Percentage and (ii) $*** (such product, the
"Year One Earn-out Amount"). Notwithstanding the foregoing, if only $*** of the
Year One Earn-out Threshold has been achieved, then Seller shall receive 25% of
the Year One Earn-out Amount, but to be paid in the same manner as the Year One
Earn-out Amount; provided further, to the extent that between $*** and $*** of
the Year One Earn-out Threshold has been achieved, then Seller shall receive 25%
of the Year One Earn-out Amount plus an amount equal to the product of (i) 75%
of the Year One Earn-out Amount and (ii) a fraction the numerator of which is
the amount by which Invoiced Revenues (as defined herein) exceeds $*** and the
denominator of which is ***; in any case, to be paid in the same manner as the
Year One Earn-out

                                       2
<PAGE>

Amount; provided further, to the extent Target produces an Integrated Assessment
Product (as defined herein) (i) on or prior to June 30, 2000, the Seller shall
be entitled to receive the entire amount of the Year One Earn-out Amount it is
entitled to receive under the terms of this paragraph, (ii) after June 30, 2000
but on or prior to September 1, 2000, then Seller shall be entitled to receive
only 85% of the Year One Earn-out Amount it is entitled to receive under the
terms of this paragraph, (iii) after September 1, 2000, then Seller shall be
entitled to receive only 80% of the Year One Earn-out Amount it is entitled to
receive under the terms of this paragraph;

*** CONFIDENTIAL TREATMENT REQUEST 56

          (f)  if the Year Two Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the two-year anniversary of the Closing Date (the
"Two-Year Anniversary Date") Buyer shall pay to Seller, in cash, an amount equal
to the product of (i) the Seller Percentage and (ii) $*** (such product,
the "Year Two Earn-out Amount"). Notwithstanding the foregoing, if only $*** of
the Year Two Earn-out Threshold has been achieved, then Seller shall receive 25%
of the Year Two Earn-out Amount, but to be paid in the same manner as the Year
Two Earn-out Amount; provided further, to the extent that between $*** and $***
of the Year Two Earn-out Threshold has been achieved, then Seller shall receive
25% of the Year Two Earn-out Amount plus an amount equal to the product of (i)
75% of the Year Two Earn-out Amount and (ii) a fraction the numerator of which
is the amount by which Invoiced Revenues (as defined herein) exceeds *** and
the denominator of which is ***; in any case, to be paid in the same manner as
the Year Two Earn-out Amount; and

*** CONFIDENTIAL TREATMENT REQUEST 57

          (g)  if the Year Three Earn-out Threshold (as defined in Section 1.7)
has been achieved, then upon the three-year anniversary of the Closing Date (the
"Three-Year Anniversary Date") Buyer shall pay to Seller, in cash, the an amount
equal to the product of (i) the Seller Percentage and (ii) $*** (such
product, the "Year Three Earn-out Amount"). Notwithstanding the foregoing, if
only $*** of the Year Three Earn-out Threshold has been achieved, then Seller
shall receive 25% of the Year Three Earn-out Amount, but to be paid in the same
manner as the Year Three Earn-out Amount; provided further, to the extent that
between $*** and $*** of the Year Three Earn-out Threshold has been achieved,
then Seller shall receive 25% of the Year Three Earn-out Amount plus an amount
equal to the product of (i) 75% of the Year Three Earn-out Amount and (ii) a
fraction the numerator of which is the amount by which Invoiced Revenues (as
defined herein) exceeds *** and the denominator of which is ***; in any case,
to be paid in the same manner as the Year Three Earn-out Amount.

     1.5. Method of Payment.  Except as otherwise expressly provided herein, all
          -----------------
cash payments from one party to another under this Agreement shall be made by
check or wire transfer in United States dollars to an address designated in
writing by the party to receive such payment.  To the extent that any payment of
cash is scheduled to be made on an anniversary date of the Closing Date which is
not a Business Day (as defined in Section 6.12), then such payment or delivery
will be made on the Business Day immediately following such anniversary date.

     1.6. Contingent Consideration and Post-Closing Consideration.
          -------------------------------------------------------

          (a)  The consideration described in clauses 1.4(c), (d), (e), (f) and
(g) shall collectively be referred to herein as the "Post-Closing Consideration"
and the consideration

                                       3
<PAGE>

described in clauses 1.4(e), (f) and (g) shall collectively be referred to
herein as the "Contingent Consideration".

*** CONFIDENTIAL TREATMENT REQUESTED 58

          (b) ***

          (c)  [RESERVED]

          (d)  To the extent required by applicable Tax laws, the Post-Closing
Consideration shall be treated as interest (or original issue discount) for Tax
purposes.  For purposes of this Agreement, "Tax" or "Taxes" shall mean any
federal, state, local or foreign income, gross receipts, license, payroll,
employment, excise, severance, stamp, occupation, premium, windfall profits,
environmental, customs duties, capital stock, property, franchise, profits,
withholding, social security (or similar), sales, use, transfer, registration,
value added, alternative or add-on minimum, estimated or other tax of any kind
whatsoever, including any interest, penalty or addition thereto, imposed by any
United States federal, state or local taxing Authority, or any foreign taxing
Authority.

     1.7. Conditions for Delivery of Contingent Consideration.
          ---------------------------------------------------

          (a)  For the purpose of computing the Contingent Consideration, Buyer
may be obligated to pay Seller:

          (i)       "Organic Business" shall refer to the business of the Target
     as conducted as of the date hereof and other related web-based business or
     certification and assessment business.

          (ii)      "Acquired Business" shall refer to any of Buyer's
     acquisitions completed after the Closing Date of businesses substantially
     similar to the Organic Business or assets of a business substantially
     similar to the Organic Business; provided, however, this shall not include
     any revenues generated by All Rossi, Inc. d/b/a CCPrep ("CCPrep") either on
     or via its website or other on-line activities.

          (iii)     "Organic Revenues" shall mean the Target's revenues from the
     conduct of the Organic Business as reflected in the September 1999
     Financial Statements plus revenues generated by CCPrep either on or via its
     website or other on-line activities excluding revenues derived from any on-
     line banner advertising.

          (iv)      "Acquired Revenues" shall mean any amount of revenue
     directly attributable to an Acquired Business for a given fiscal year in
     excess of an amount of revenue for such Acquired Business determined by
     multiplying (A) the revenues for such Acquired Business for the two (2)
     full calendar months immediately preceding the

                                       4
<PAGE>

     consummation of the acquisition of such Acquired Business by (B) six (6).

          (v)       "GAAP Revenue Recognition Period" shall mean the period of
     time over which revenue is recognized in accordance with GAAP. This period
     is currently nine months and, notwithstanding any changes to the duration
     of such period in accordance with GAAP after the date hereof, the
     calculation of the Contingent Consideration hereunder shall not be affected
     by such changes.

          (vi)      "Invoiced Revenue" shall mean Organic Revenue not adjusted
     for revenue recognized for the GAAP Revenue Period plus Acquired Revenues,
     but net of returns of product, as well as allowances and write-offs of
     uncollectible receivables (other than uncollectible receivables written off
     in the ordinary course of business). Invoiced Revenue shall not be adjusted
     for the GAAP Revenue Recognition Period.

*** CONFIDENTIAL TREATMENT REQUESTED 59

          (vii) "Year One Earn-out Threshold" shall refer to *** Dollars ($***)
     of Invoiced Revenue for fiscal year ended December 31, 2000.

*** CONFIDENTIAL TREATMENT REQUESTED 60

          (viii) "Year Two Earn-out Threshold" shall refer to *** Dollars ($***)
     of Invoiced Revenue for fiscal year ended December 31, 2001.

*** CONFIDENTIAL TREATMENT REQUESTED 61

          (ix) "Year Three Earn-out Threshold" shall refer to *** Dollars ($***)
     of Invoiced Revenue for fiscal year ended December 31, 2002.

          (x)  "Integrated Assessment Product" shall refer to the successful
     development and implementation of an integrated assessment product by Kevin
     Brice in cooperation with EW Career Solutions, Inc. ("EW"), a subsidiary of
     Buyer that operates the Dice.com business, utilizing adaptive learning
     technologies to assess the skill level of the test taker and which shall be
     integrated into the EW system. The subject areas for which this product
     shall be developed are identified on Exhibit C hereto.

          (b)  Each payment of Contingent Consideration required to be paid
pursuant to the terms of this Agreement shall be paid by Buyer to the Seller as
promptly as practicable following the first business day of April following the
applicable measurement period for the Invoiced Revenues (which shall be not
later than the fifth business day of April).

          (c)  In the event that Buyer sells all or substantially all of the
Organic Business, then Buyer shall ensure that all of its obligations hereunder
with respect to the payment of Contingent Consideration shall be assumed in all
material respects to the acquiror of such Organic Business.

          (d)  Buyer shall operate the Organic Business from and after the
Closing Date in the ordinary course of business.

     1.8. Withholding for Options.  Buyer and Seller agree that all withholding,
          -----------------------
if any, will be made with respect to the Securities.

                                       5
<PAGE>

                                   SECTION 2

              Individual Representations and Warranties of Seller

     Seller represents and warrants to Buyer as of the date of this Agreement as
follows:

     2.1. Capital Stock.  Seller is the owner, beneficially and of record, of
          -------------
the Securities set forth opposite such person's name on Exhibit A hereto.  The
Securities will not be subject to any liens or restrictions on transfer, other
than restrictions imposed by applicable securities laws and, upon the transfer
of the Securities to Buyer, Buyer will obtain good and marketable title to the
Securities, free and clear of all liens, claims and encumbrances of any kind.
At the Closing Date, other than the affirmative obligation of Seller to exercise
its options and convert them into shares of capital stock of Target, there will
be no authorized or outstanding option, subscription, warrant, call, right,
commitment or other agreement obligating Seller to issue or transfer any of its
Securities.  Seller is not a party to any voting trust, proxy or other agreement
or understanding with respect to the Securities.

     2.2. Authorization; Consents; Enforceability.
          ---------------------------------------

          (a)  This Agreement and the Transaction Documents to which Seller is a
party or a signatory, have been duly authorized, executed and delivered by
Seller and constitute the legal, valid and binding obligation of Seller
enforceable in accordance with their respective terms subject to applicable
bankruptcy, insolvency and similar laws affecting creditors' rights generally
and to general principles of equity.

          (b)  No Consent is required to be obtained by Seller from, and no
notice or filing is required to be given by, Seller to or made by Seller with,
any Governmental Authority or other person in connection with the execution,
delivery and performance by Seller of this Agreement.

          (c)  The execution and delivery by Seller of this Agreement and the
Transaction Documents to which it is a party do not, and the consummation by
Seller of the transactions contemplated hereby or thereby will not (i) violate
or conflict with, or result (with the giving of notice or lapse of time or both)
in a violation of or constitute a default (or give rise to any right of
termination, cancellation or acceleration) under any of the terms, conditions or
provisions of any note, agreement or other instrument or obligation to which
Seller is a party or by which any of its assets may be bound, except for such
violations or defaults (or rights of termination, cancellation or acceleration)
as to which requisite waivers or consents have been obtained or (iii) violate
any order, writ, injunction, decree, statute, rule or regulation applicable to
Seller or any of its assets.

     2.3. Litigation.  There is no litigation, action, claim, proceeding or
          ----------
governmental investigation pending or, to the knowledge of Seller, threatened
against Seller which may affect Seller's ability to perform his obligations
under this Agreement.

                                   SECTION 3

                    Representations and Warranties of Buyer

     Buyer represents and warrants to Seller as follows:

                                       6
<PAGE>

     3.1. Requisite Power.  Buyer has all requisite corporate power to execute
          ---------------
and deliver this Agreement and to carry out and perform its obligations under
the terms of this Agreement and the Transaction Documents to which it is a
party.

     3.2. Authorization.  All action on the part of Buyer necessary for the
          -------------
authorization, execution, delivery and performance of this Agreement and the
Transaction Documents to which it is a party has been taken and remains in full
force and effect.  This Agreement constitutes, and the Transaction Documents to
which Buyer is a party will each constitute, the valid and binding obligation of
Buyer enforceable against Buyer in accordance with its terms.

     3.3. No Conflict.  The execution, delivery and performance of this
          -----------
Agreement and any of the Transaction Documents to which it is a party by Buyer
have not resulted and will not result in, nor will consummation of the
transactions contemplated hereby or thereby result in, any violation of, or
conflict with, or constitute a default under, any of its charter documents, or
result in any material violation of, or conflict with, or constitute a default
under, any of its material agreements; and there exists no such violation or
default that does or could materially and adversely affect the ability of Buyer
to consummate its obligations hereunder.

     3.4. Governmental Consents, etc.  No consent, approval or authorization of
          --------------------------
or designation, declaration, or filing with any Authority on the part of Buyer
is required in connection with the valid execution and delivery of this
Agreement or any Transaction Document to which it is a party or the consummation
of the transactions contemplated thereby or thereby.

     3.5. Brokers or Finders.  Buyer has not incurred, and will not incur,
          ------------------
directly or indirectly, any liability for brokerage or finders' fees or agents'
commissions or any similar charges in connection with this Agreement or any
transaction contemplated hereby.

     3.6. Organization and Qualification.  Buyer is a corporation duly
          ------------------------------
organized, validly existing and in good standing under the laws of the State of
Delaware and has the corporate power to carry on its business as it is now being
conducted or currently proposed to be conducted and is qualified to do business
in each jurisdiction where such qualification is required except where the
failure to be so qualified would not have a material adverse effect.

     3.7. Validity of Shares to be Issued.  The issuance of the shares of
          -------------------------------
Buyer Common Stock to Seller under this Agreement has been duly authorized by
all necessary corporate action, and, upon issuance in accordance with the terms
of this Agreement, will be validly issued, fully paid and nonassessable and
issued free of pre-emptive rights.

     3.8. No Brokers or Finders.  No Person is or will be entitled to receive
          ---------------------
from Seller any brokers', finders' or similar fee or commission in connection
with the transaction contemplated by Agreement on account of services rendered
to Buyer.

     3.9. Reports.  Buyer has made available to Seller true and complete copies
          -------
of the Shelf Registration Statement (as defined below) and any other reports or
registration statements filed by Buyer with the Securities Exchange Commission
("Commission") since November 1999, except for preliminary material, which are
all the documents that Buyer was required to file with the Commission since that
date (collectively, the "Buyer SEC Reports").  As of their respective

                                       7
<PAGE>

dates, the Buyer SEC Reports complied as to form in all material respects with
the requirements of the Securities Act or the Securities Exchange Act of 1934,
as amended (the "Securities Exchange Act"), as the case may be, and the rules
and regulations of the Commission thereunder applicable to the Buyer SEC
Reports. As of their respective dates, the Buyer SEC Reports did not contain any
untrue statement of a material fact or omit to state a material fact required to
be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading.

     3.10. Effectiveness of Registration of Buyer Stock.  All of the registered
           --------------------------------------------
Buyer Stock contemplated to by issued by Buyer pursuant to Section 1.5 of this
Agreement has been duly registered under the Securities Act of 1933, as amended
(the "Securities Act"), pursuant to the registration statement filed November
22, 1999 of Buyer on Form S-4 under the Securities Act pursuant to Rule 415
under the Securities Act (the "Shelf Registration Statement").  The Shelf
Registration Statement became effective on December 14, 1999 and remains
effective as of the date hereof.

                                   SECTION 4

                                    Closing

     4.1.  Conditions to Obligation of Buyer.  The obligation of Buyer to
           ---------------------------------
consummate the transactions to be performed by it in connection with the Closing
is subject to satisfaction of the following conditions;

           (a) the representations and warranties set forth in Section 2 above
shall be true and correct in all material respects at and as of the Closing
Date;

           (b) Seller shall have provided evidence reasonably satisfactory to
Buyer's counsel that prior to the Closing Date, Seller has exercised all of its
outstanding options of Target and converted such options into shares of capital
stock of Target;

           (c) the exercise price to be paid by Seller in respect of the options
has been paid to the Target and all options held by Seller have been converted
into shares of common stock of the Target;

           (d) no action, suit, or proceeding is pending before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction or before any arbitrator wherein an unfavorable injunction,
judgment, order, decree, ruling or charge would (A) prevent consummation of any
of the transactions contemplated by this Agreement, (B) cause any of the
transactions contemplated by this Agreement to be rescinded following
consummation or (C) affect adversely the right of Buyer to acquire the
Securities (and no such injunction, judgment, order, decree, ruling or charge
shall be in effect);

           (e) Seller shall have delivered to Buyer a certificate signed by
Seller to the effect that each of the conditions specified above in Section
4.1(a) through (c) is true in all respects;

           (f) Buyer shall have received, from or on behalf of Seller or other
applicable party, delivery of all the Closing Documents listed in Section 4.3
below;

                                       8
<PAGE>

          (g)  the closing of the transactions contemplated by the Purchase
Agreement shall be occurring; and

          (h)  all actions to be taken by Seller in connection with consummation
of the transactions contemplated hereby and by the other Transaction Documents
and all certificates, opinions, instruments and other documents required to
effect the transactions contemplated hereby and thereby will be reasonably
satisfactory in form and substance to Buyer.

                    Buyer may waive any condition specified in this Section 4.1
if it executes a writing so stating at the Closing.

     4.2. Conditions to Obligations of Seller.  The obligations of Seller to
          -----------------------------------
consummate the transactions to be performed by them in connection with the
Closing is subject to satisfaction of the following conditions:

          (a)  the representations and warranties set forth in Section 3 above
shall be true and correct in all material respects at and as of the Closing
Date;

          (b)  no action, suit, or proceeding is pending before any court or
quasi-judicial or administrative agency of any federal, state, local, or foreign
jurisdiction or before any arbitrator wherein an unfavorable injunction,
judgment, order, decree, ruling or charge would (A) prevent consummation of any
of the transactions contemplated by this Agreement or (B) cause any of the
transactions contemplated by this Agreement to be rescinded following
consummation (and no such injunction, judgment, order, decree, ruling or charge
shall be in effect);

          (c)  Seller shall have received from Buyer all of the Closing
Documents listed in Section 4.4 below;

          (d)  the closing of the transactions contemplated by the Purchase
Agreement shall be occurring; and

          (e)  Buyer shall have delivered to Seller a certificate signed by an
executive officer of Buyer to the effect that each of the conditions specified
above in Section 4.2(a) through (c) is true in all respects.

                    Seller may waive any condition specified in this Section 4.2
if it executes a writing so stating at the Closing.

     4.3. Seller Deliveries.  Simultaneously with the Closing of the
          -----------------
transactions contemplated by this Agreement, the following documents shall be
executed and/or delivered by Seller to Buyer:

          (a)  the certificates representing Target's options, together with
stock powers executed in blank and any certificates or documents representing
the Target options;

          (b)  a release signed by Seller, of rights to options of Target set
forth on Exhibit A hereto

                                       9
<PAGE>

          (c)  the Employment Agreement between Seller and Buyer in
substantially the form annexed hereto as Exhibit B (the "Employment Agreement");
and

          (d)  the other Transaction Documents.

     4.4. Buyer Deliveries.  Simultaneously with the Closing of the transactions
          ----------------
contemplated by this Agreement, the following documents or items shall be
executed and/or delivered by Buyer to Seller or other applicable party:

          (a)  the Employment Agreement;

          (b)  the Closing Date Cash Payment; and

          (c)  the Closing Date Block of Buyer Common Stock.

                                   SECTION 5

                                   Covenants

     5.1. Covenants Pending Closing.
          -------------------------

          (a)  Each party shall cooperate in obtaining all required consents,
audits, and completion of other transactions contemplated to have occurred as of
the Closing and to use best efforts to cause the fulfillment of the conditions
to the other party's obligation to consummate the transactions contemplated
hereby. In that regard, Seller shall have the affirmative obligation to exercise
its options of Target prior to the Closing Date and pay the exercise price per
share in connection therewith.

          (b)  Each party will give to the other prompt written notice of any
material adverse change in any fact or circumstance respecting which a
representation, warranty, covenant or agreement has been made by it herein.

     5.2. Post-Closing Covenants.
          ----------------------

          (a)  From and after the Closing, Seller shall execute all such
instruments or documents and take all such other actions as Buyer may reasonably
request to effectuate the transactions contemplated hereby, including, without
limitation obtaining of any necessary or advisable consents not required by
Buyer prior to Closing in connection with the transactions contemplated hereby.

          (b)  Seller shall indemnify (pro rata, based on the Purchase Price
receivable by each party comprising Seller), defend and hold harmless Buyer, its
officers, directors, employees, partners, members, shareholders, Affiliates (and
their officers, directors, employees, members, partners and shareholders) and
agents (collectively, the "Buyer Indemnified Parties") from and against any
action, loss, liability, damage, claim, fine, penalty, lien or expense,
including reasonable legal costs, attorneys' fees and expenses (collectively,
"Buyer Loss"), to the extent the same arises out of any breach by Seller of any
representation, warranty, agreement or covenant made by Seller herein or in any
Transaction Document.

                                       10
<PAGE>

          (c)  Buyer shall indemnify, defend and hold harmless Seller from and
against any action, loss, liability, damage, claim, fine, penalty, lien,
interest or expense, including without limitation, reasonable legal costs,
attorneys' fees and expenses (collectively, "Seller Loss"), to the extent the
same arises out of breach by Buyer of any representation, warranty, agreement or
covenant made by Buyer herein or in any Transaction Document.

          (d)  Seller hereby agrees that it will sell shares of Buyer Common
Stock only in compliance with applicable federal and state securities laws.

                                   SECTION 6

                                 Miscellaneous

     6.1. Governing Law.  This Agreement shall be governed in all respects by
          -------------
the laws of the State of New York, without giving effect to any choice or
conflict of law provision or rule (whether of the State of New York or any other
jurisdiction that would cause the application of the laws of any jurisdiction
other that the State of New York).

     6.2. Survival.  The representations and warranties made herein shall
          --------
survive any investigation made by the parties and the Closing of the
transactions contemplated hereby.  Except as expressly provided otherwise
herein, the covenants and agreements made herein shall survive the Closing of
the transactions contemplated hereby for a period of 18 months from the Closing
Date; provided, that, notwithstanding the foregoing, the representations and
      --------  ----
warranties set forth in Section 2.1 and Section 2.2(a) in their entirety shall
survive forever; provided, further, that notwithstanding anything to the
                 --------  -------
contrary contained in this Agreement, with respect to any claim of intentional
fraud on the part of Seller, Seller will not have the benefit of any of the
limitations of this Section 6.2.

     6.3. Successors and Assigns.  Except as otherwise provided herein, the
          ----------------------
provisions hereof shall inure to the benefit of, and be binding upon, the
successors, assigns, heirs, executors and administrators of the parties hereto.
No party may assign any of its rights or obligations hereunder without the
express written consent of the other party hereto, which consent may not be
unreasonably withheld; provided, however, any party may assign any and all of
                       --------  -------
its rights and interests hereunder to one or more of its affiliates and
designate one or more of its affiliates to perform its obligations hereunder;
provided, however, that such party remains liable for full and total performance
of its obligations hereunder.

     6.4. Notices.  Any notices authorized to be given hereunder shall be in
          -------
writing and deemed given, if delivered personally or by overnight courier, on
the date of delivery, if a Business Day, or if not a Business Day, on the first
Business Day following delivery, or if mailed, three days after mailing by
registered or certified mail, return receipt requested, and in each case,
addressed, as follows:

                                       11
<PAGE>

          If to Buyer:

          EarthWeb Inc.
          Three Park Avenue, 38th Floor
          New York, NY 10016
          Facsimile: (212) 725-6559
          Attention: Jack D. Hidary, President

          and a copy to:

          John Hempill, Esq.
          Morrison & Foerster LLP
          1290 Avenue of the Americas
          New York, NY 10104-0185
          Facsimile: (212) 468-7900

          If to Seller:

          At the address set forth under Seller's name and signature on the
          signature page hereto.

          and a copy to:

          Brian T. Casey, Esq.
          Morris, Manning & Martin, LLP
          1600 Atlanta Financial Center
          Atlanta, Georgia 30326
          Facsimile: (404) 365-9532

or if delivered by telecopier, on a Business Day before 4:00 PM local time of
addressee, on transmission confirmed electronically, or if at any other time or
day on the first Business Day succeeding transmission confirmed electronically,
to the facsimile numbers provided above, or to such other address or telecopy
number as any party shall specify to the other, pursuant to the foregoing notice
provisions.

     6.5. Waiver; Amendments.  This Agreement and the Transaction Documents, (i)
          ------------------
set forth the entire agreement of the parties respecting the subject matter
hereof, (ii) supersede any prior and contemporaneous understandings, agreements,
or representations by or among the parties, written or oral, to the extent they
related in any way to the subject matter hereof and (iii) may not be amended
orally, and no right or obligation of any party may be altered, except as
expressly set forth in a writing signed by such party.

     6.6. Counterparts.  This Agreement may be signed in several counterparts.
          ------------

     6.7. Expenses.  Each party shall bear its own expenses incurred with
          --------
respect to the preparation of this Agreement and the consummation of the
transactions contemplated hereby.

                                       12
<PAGE>

     6.8.  Arbitration.
           -----------

           (a) If at any time there shall be a dispute arising out of or
relating to any provision of this Agreement, any Transaction Document or any
agreement contemplated hereby or thereby, such dispute shall be submitted for
binding and final determination by arbitration in accordance with the
regulations then obtaining of the American Arbitration Association. Judgment
upon the award rendered by the arbitrator(s) resulting from such arbitration
shall be in writing, and shall be final and binding upon all involved parties.
The site of any arbitration shall be within New York City, New York.

           (b) This arbitration clause shall survive the termination of this
Agreement, any Transaction Document and any agreement contemplated hereby or
thereby.

     6.9.  Waiver of Jury Trial; Exemplary Damages.  THE PARTIES HERETO HEREBY
           ---------------------------------------
WAIVE THEIR RIGHTS TO TRIAL BY JURY WITH RESPECT TO ANY DISPUTE ARISING UNDER
THIS AGREEMENT AND ANY TRANSACTION DOCUMENT (OTHER THAN THE EMPLOYMENT
AGREEMENT).  No party shall be awarded punitive or other exemplary damages
respecting any dispute arising under this Agreement or any Transaction Document
contemplated hereby.

     6.10. Attorneys' Fees.  The unsuccessful party to any court or other
           ---------------
proceeding arising out of this Agreement or any Transaction Document that is not
resolved by arbitration under Section 6.8 shall pay to the prevailing party all
attorneys' fees and costs actually incurred by the prevailing party, in addition
to any other relief to which it may be entitled.  Otherwise, attorneys' fees
shall be paid in accordance with the judgment rendered.  As used in this Section
6.10 and elsewhere in this Agreement, "actual attorneys' fees" or "attorneys'
fees actually incurred" means the full and actual cost of any legal services
actually performed in connection with the matter for which such fees are sought,
calculated on the basis of the usual fees charged by the attorneys performing
such services, and shall not be limited to "reasonable attorneys' fees" as the
term may be defined in statutory or decisional Authority.

     6.11. Transaction Documents.  When used in this Agreement, the term
           ---------------------
"Transaction Documents" shall mean this Agreement and the Employment Agreement.

     6.12. Business Day.  When used in this Agreement, the term "Business Day"
           ------------
shall mean a day other than a Saturday, Sunday or a day on which commercial
banks in New York City are generally closed for business.

     6.13. Termination.
           -----------

           (a) This Agreement may be terminated prior to the Closing as follows:

                    (i)  at the election of Seller, if any one or more of the
     conditions to its obligation to close set forth in Section 4.2 of this
     Agreement has not been fulfilled as of the Closing Date;

                                       13
<PAGE>

                    (ii)      at the election of the Buyer, if any one or more
     of the conditions to its obligation to close set forth in Section 4.1 of
     this Agreement has not been fulfilled as of the Closing Date;

                    (iii)     at the election of Buyer or Seller if, prior to
     the Closing, the other has breached any material representation, warranty,
     covenant or agreement contained in this Agreement;

                    (iv)      at the election of Buyer, if any legal proceeding
     is commenced or threatened by any governmental agency or other person
     directed against the consummation of the Closing or any other material
     transaction contemplated under this Agreement or the other Transaction
     Documents and the Buyer, on the advice of legal counsel, reasonably and in
     good faith deems it impractical or inadvisable to proceed in view of such
     legal proceeding or threat thereof;

                    (v)       at any time on or prior to the Closing Date, by
     mutual written consent of Seller and Buyer; or

                    (vi)      by any party after the Termination Date, unless
     the Termination Date has been extended by the mutual written consent of
     Seller and Buyer.

          (b)  If any party terminates this Agreement pursuant to this Section
6.13(a), all rights and obligations of the parties hereunder shall terminate
without any liability of any party hereto to any other party (except for any
liability of any party then in breach).

                                       14
<PAGE>

     IN WITNESS WHEREOF, the undersigned have executed this Securities Purchase
Agreement as of the date first written above.

                              EARTHWEB INC.

                              By:_________________________
                                 Name:  Murray Hidary
                                 Title: Executive Vice President

                              SELLER:

                              ____________________________
                              Melissa Stover
                              ADDRESS: ___________________
                                       ___________________
                                       ___________________

                                       15
<PAGE>

                                   EXHIBIT A

*** CONFIDENTIAL TREATMENT REQUESTED 62

<PAGE>

                                   Exhibit B

                             Employment Agreement
<PAGE>

                                   Exhibit C

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