Document:

<PAGE>

                                                                    EXHIBIT 10.4

                                 FIRST AMENDMENT

                  FIRST AMENDMENT (this "Amendment"), dated as of April 24,
1998, among AMERICAN LAWYER MEDIA HOLDINGS, INC., a Delaware corporation
("HOLDINGS"), AMERICAN LAWYER MEDIA, INC., a Delaware corporation (the
"BORROWER"), the several lenders from time to time party to the Credit Agreement
referred to below (the "BANKS"), BANK OF AMERICA NATIONAL TRUST AND SAVINGS
ASSOCIATION, as Issuing Bank, and BANK OF AMERICA NATIONAL TRUST AND SAVINGS
ASSOCIATION, as Administrative Agent. Unless otherwise defined herein, all
capitalized terms used herein shall have the respective meanings provided such
terms in the Credit Agreement referred to below.

                              W I T N E S S E T H :

                  WHEREAS, Holdings, the Borrower, the Banks, the Issuing Banks,
the Administrative Agent and the Arrangers are parties to a Credit Agreement,
dated as of March 25, 1998 (the "Credit Agreement"); and

                  WHEREAS, subject to the terms and conditions set forth herein,
the parties hereto agree as follows;

                  NOW, THEREFORE, it is agreed:

I.       AMENDMENT:

         1. The definition of "Consolidated Total Indebtedness" appearing in
Section 1.01 of the Credit Agreement is hereby amended by deleting the
parenthetical phrase ("excluding the Holdings Senior Discount Notes)" appearing
therein.

II.      MISCELLANEOUS:

         1. This Amendment is limited as specified and shall not constitute a
modification, acceptance or waiver of any other provision of the Credit
Agreement or any other Credit Document.

         2. This Amendment may be executed in any number of counterparts and by
the different parties hereto on separate counterparts, each of which
counterparts when executed and delivered shall be an original, but all of which
shall together constitute one and the same instrument. A complete set of
counterparts shall be lodged with the Borrower and the Administrative Agent.

         3. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE
STATE OF NEW YORK.

         4. This Amendment shall become effective on the date (the "First
Amendment Effective Date") when Holdings, the Borrower and the Required Banks
shall have signed a counterpart hereof

                                       1
<PAGE>

(whether the same or different counterparts) and shall have delivered (including
by way of telecopier) the same to the Administrative Agent.

         5. From and after the First Amendment Effective Date, all references in
the Credit Agreement and each of the other Credit Documents to the Credit
Agreement shall be deemed to be references to the Credit Agreement after giving
effect to this Amendment.

                                   AMERICAN LAWYER MEDIA HOLDINGS, INC.

                                   By:
                                      -----------------------------------
                                         Name:
                                         Title

                                   AMERICAN LAWYER MEDIA, INC.

                                   By:
                                      -----------------------------------
                                         Name:
                                         Title

                                   BANK OF AMERICA NATIONAL TRUST

                                     AND SAVINGS ASSOCIATION, AS ADMINISTRATIVE
                                     AGENT

                                   BANK OF AMERICAN NATIONAL TRUST AND
                                     SAVINGS ASSOCIATION, AS AN ISSUING BANK

                                   By:
                                      -----------------------------------
                                         Name:
                                         Title

                                       2
<PAGE>

                                    BANK OF AMERICA NATIONAL TRUST AND
                                      SAVINGS ASSOCIATION, AS A BANK

                                    By:
                                       -----------------------------------
                                          Name:
                                          Title:

                                    BANKBOSTON, N.A., AS BANK AND AS AN ISSUING
                                      BANK

                                    By:
                                       -----------------------------------
                                          Name:
                                          Title:

                                       3

<PAGE>

                      SECOND AMENDMENT TO CREDIT AGREEMENT

         This AMENDMENT TO CREDIT AGREEMENT is entered into as of the 26th day
of April, 1999 (the "AMENDMENT") by and among AMERICAN LAWYER MEDIA HOLDINGS,
INC., a Delaware corporation, ("HOLDINGS"), AMERICAN LAWYER MEDIA, INC., a
Delaware corporation, (the "BORROWER"), the several lenders from time to time
party to the Amendment (the "REQUIRED BANKS") and BANK OF AMERICA NATIONAL TRUST
AND SAVINGS ASSOCIATION, a national banking association, as administrative agent
(the "ADMINISTRATIVE AGENT").

                                    RECITALS

         A.       The Borrower, Holdings, various banks and other financial
institutions or entities (collectively, the "BANKS"), the Administrative Agent,
the Issuing Bank, the Syndication Agent and the Arrangers have previously
entered into that certain Credit Agreement dated as of March 25, 1998 (as
amended from time to time, the "CREDIT AGREEMENT").

         B.       The Borrower and Holdings have requested that the Required
Banks and the Administrative Agent agree to the amendments as hereinafter
described.

         C.       The Required Banks and the Administrative Agent (including on
behalf of all other parties to the Credit Agreement not party hereto) hereby
agree to the requested amendments, subject to the terms and conditions set forth
herein.

         NOW, THEREFORE, in consideration of the terms and conditions set forth
herein, any extension of credit or other financial accommodation heretofore, now
or hereafter made by any of the Banks or of the Administrative Agent to the
Borrower and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

                  1.       RECITALS. The foregoing recitals are accurate and are
incorporated herein and made a part hereof.

                  2.       DEFINITIONS. Each initially capitalized term used
herein without definition shall have the meaning ascribed to such term in the
Credit Agreement.

                  3.       AMENDMENTS. It is hereby agreed that the Credit
Agreement shall be amended, effective as of the Effective Date (defined below),
as follows:

<PAGE>

(a)      SECTION 1.01(DEFINED TERMS): "ADJUSTED CONSOLIDATED EBITDA": The
         definition of Adjusted Consolidated EBITDA in Section 1.01 of the
         Credit Agreement shall be amended by the deletion of the existing
         definition and its replacement by the following:

         "ADJUSTED CONSOLIDATED EBITDA" means, for any Measurement Period,
         Consolidated EBITDA for such Measurement Period, adjusted by adding
         thereto up to the Applicable Amount of Development Costs actually
         incurred by Holdings and its Subsidiaries for such Measurement Period,
         PROVIDED that such Development Costs shall only be added back to the
         extent that same reduced Consolidated Net Income for such Measurement
         Period. For these purposes, and in respect of the Measurement Periods
         specified, the "Applicable Amount" of Development Costs shall be as
         follows:

<TABLE>

Period                                                    Applicable Amount of
                                                            Development Costs
(fiscal quarter ending)                                   ----------------------
-----------------------
<S>                                                      <C>
March 31, 1999                                            1,500,000
June 30, 1999                                             4,100,000
September 30, 1999                                        6,900,000
December 31, 1999                                         9,200,000
March 31, 2000                                           10,000,000
June 30, 2000                                             9,000,000
September 30, 2000                                        7,000,000
December 31, 2000                                         5,500,000
March 31, 2001 and each fiscal                            4,000,000
quarter thereafter

</TABLE>

(b)      SECTION 1.01 (DEFINED TERMS): "CONSOLIDATED EBITDA":
         The definition of Consolidated EBITDA in Section 1.01 of the Credit
         Agreement shall be amended by the insertion on the 26th line thereof
         after the words, "(y) subtracting therefrom any cash expenses, cash
         charges or cash payments arising from any non-cash expenses or non-cash
         charges that were added back to Consolidated EBITDA pursuant to clause
         (x)(i) above in a previous period", and before the semi-colon
         immediately thereafter, the following additional words:

         "(other than cash expenses arising from the expense accruals that were
         added back to Consolidated EBITDA for the Measurement Period ending
         December 31, 1998 in respect of the buyout of options of William Pollak
         and Leslye Katz in the respective amounts of $539,000 and $204,000,
         which amounts are reflected in the

                                       -2-

<PAGE>

         audited financial statements of Holdings and the Borrower for the
         Fiscal Year ended December 31, 1998)"

(c)      SECTION 1.01 (DEFINED TERMS): "CONSOLIDATED TOTAL LEVERAGE RATIO" The
         definition of "Consolidated Total Leverage Ratio" in Section 1.01 of
         the Credit Agreement shall be amended by the deletion of the existing
         definition and its replacement by the following:

                  "CONSOLIDATED TOTAL LEVERAGE RATIO" means, at any time, the
                  ratio of (i) Consolidated Total Indebtedness at such time to
                  (ii) (for the purposes of Section 2.09(a) hereof only)
                  Consolidated EBITDA or (for all other purposes) Adjusted
                  Consolidated EBITDA, in each case, for the Measurement Period
                  then most recently ended."

(d)      Section 2.01 (Amounts and Terms of Commitment): Section 2.01 shall be
         amended by adding "(a)" before the first word of the first line thereof
         and adding the following as a second paragraph immediately following
         the last line of the first paragraph of Section 2.01:

                           (b) Notwithstanding anything to the contrary,
                  contained in Section 2.01(a), the Banks shall not be obligated
                  to make Revolving Loans the principal amount of which,
                  together with the aggregate principal amount of all
                  outstanding Revolving Loans plus the aggregate amount of all
                  outstanding Letters of Credit Obligations (exclusive of unpaid
                  drawings under any Letter of Credit which are repaid with the
                  proceeds of, and simultaneously with the incurrence of, the
                  respective incurrence of Revolving Loans), exceeds $20,000,000
                  in the aggregate until the first date on which either (i) the
                  Administrative Agent is reasonably satisfied that the
                  Consolidated Leverage Ratio, on a pro forma basis, is less
                  than 7.00:1.00 or (b) the actual Consolidated Total Leverage
                  Ratio for the Measurement Period then most recently ended is
                  less than 7.00:1.00.

(e)      SECTION 2.09 (INTEREST) Section 2.09 shall be amended as follows:

                  (i)      in Section 2.09(a)(ii), by deleting the words
                           "Consolidated Total Leverage Ratio is greater than or
                           equal to 7.00 to 1.00 ("LEVEL VI")" and substituting
                           therefor the words:

                                    "Consolidated Total Leverage Ratio is equal
                                    to or less than 7.50 to 1.00 but greater
                                    than or equal to 7.00 to 1.00 ("Level VI")"

                  (ii)     in Section 2.09(a)(ii), by inserting the following
                           below Level VI:

                                       -3-

<PAGE>

<TABLE>
<CAPTION>

                                            APPLICABLE MARGINS
                                            ------------------
Consolidated Total Leverage            EURODOLLAR RATE     BASE RATE
---------------------------            ---------------     ---------
Ratio is Greater Than 7.50 to
<S>                                       <C>                <C>
1.00 ("LEVEL VII")                         3.000%            2.000%

</TABLE>

                  (iii)    in Section 2.09(a)(iii), by deleting references on
                           the sixth and eleventh lines to "Level VI" and
                           replacing such references with "Level VII".

(f)      SECTION 8.07 (CONSOLIDATED INTEREST COVERAGE RATIO):
         The ratios set forth in Section 8.07 with respect to the periods set
         forth below shall be amended by deleting the existing ratio
         corresponding to the respective periods set forth below and
         substituting therefor the respective ratios specified below for the
         same corresponding periods:

<TABLE>
<CAPTION>

FISCAL QUARTER ENDING                       RATIO

<S>                                         <C>
March 31, 1999                              1.40:1.00
June 30, 1999                               1.40:1.00
September 30, 1999                          1.40:1.00

</TABLE>

(g)      SECTION 8.09 (MAXIMUM TOTAL LEVERAGE RATIO):

         Section 8.09 shall be amended by deleting the words "December 31, 1998
         through and including December 30, 1999" and the ratio corresponding
         thereto and the words "December 31, 1999 through and including December
         30, 2000" and the ratio corresponding thereto and substituting therefor
         the respective ratios specified below for the corresponding periods
         specified below:

<TABLE>
<CAPTION>

PERIOD                                                     RATIO
------                                                     -----
<S>                                                        <C>
December 31, 1998 through and including
March 30, 1999                                             7.50:1.00

March 31, 1999 through and including June
29, 1999                                                   8.25:1.00

June 30, 1999 through and including
September 29, 1999                                         8.25:1.00

September 30, 1999 through and including
December 30, 1999                                          8.00:1.00

December 31, 1999 through and including
March 30, 2000                                             7.25:1.00

March 31, 2000 through and including
December 30, 2000                                          6.75:1.00

</TABLE>

                  4.       CONDITIONS TO EFFECTIVENESS. Provided that no
unwaived Default or Event of Default shall then exist, this Amendment shall be
deemed to be effective as of March 29, 1999

                                       -4-

<PAGE>

(the "EFFECTIVE DATE") upon the Administrative Agent's receipt of each of the
following in form and substance satisfactory to the Administrative Agent:

                           (a) A duly executed original or facsimile counterpart
                  of this Amendment executed by the Borrower, Holdings, the
                  Administrative Agent and the Required Banks;

                           (b) True, complete and accurate copies, duly
                  certified by an officer of the Borrower and Holdings,
                  respectively, of all documents evidencing any necessary
                  corporate action, resolutions, consents and governmental
                  approvals, if any, required for the execution, delivery and
                  performance of this Amendment, and any other document,
                  instrument or agreement executed or delivered in connection
                  therewith by the Borrower or Holdings; and

                           (c) Such other documents, instruments or agreements
                  as the Administrative Agent may reasonably request.

                  5.       REPRESENTATIONS AND WARRANTIES. In order to induce
the Administrative Agent and the Required Banks to enter into this Amendment,
the Borrower and Holdings hereby represent, warrant and certify to each of the
Administrative Agent and the Banks that, as of the date of this Amendment and as
of the Effective Date and after giving effect to this Amendment and to the
Waiver to Credit Agreement dated March 29, 1999 between the parties hereto in
respect of the Credit Agreement:

                           (a) no Default or Event of Default exists;

                           (b) each and every representation and warranty
                  contained in the Loan Documents is true, correct, complete and
                  accurate with the same effect as if then made, except to the
                  extent that such representations and warranties relate solely
                  to an earlier date (in which case such representations and
                  warranties shall have been true, correct, complete and
                  accurate on and as of such earlier date); and

                           (c) the Borrower and Holdings are in compliance with
                  all of the covenants contained in the Loan Documents.

                  6.       FULL FORCE AND EFFECT. Except as specifically
modified or amended by the terms of this Amendment, the Loan Documents and all
provisions contained therein are, and shall continue, in full force and effect
and are hereby ratified and confirmed.

                  7.       INDEMNITIES. The Borrower and Holdings shall
indemnify and hold the Required Banks, the Administrative Agent, their assignees
and participants and their respective affiliates, officers, employees,
directors, agents and attorneys (collectively, "INDEMNIFIED PARTIES") harmless
from any and all liabilities, obligations, losses, penalties, actions,
judgments, suits, costs, expenses or disbursements of any kind or nature
whatsoever incurred by the Indemnified Parties, or any of them, whether direct,
indirect or consequential, as a result of or arising from or relating to any
proceeding by, or on behalf of, any person including, without limitation,
officers, directors, agents, trustees, creditors, partners or shareholders of
the Borrower and Holdings, whether threatened or initiated, asserting any claim
for legal or equitable remedy

                                      -5-

<PAGE>

under any statute, regulation or common law principle arising from or in
connection with the negotiation, preparation, execution, delivery, performance,
administration and enforcement of this Amendment or any other document executed
in connection herewith, provided that the Borrower and Holdings shall have no
obligation hereunder with respect to indemnified liabilities arising from the
gross negligence or willful misconduct of any of the Indemnified Parties seeking
such indemnification. The foregoing indemnity shall survive the payment in full
of the Obligations, and shall not in any way limit or modify the provisions of
Section 12.05 of the Credit Agreement.

                  8.       COUNTERPARTS. This Amendment may be executed in any
number of separate counterparts, each of which shall be deemed to be an original
and all of which together shall be deemed to be one and the same instrument.

                  9.       MISCELLANEOUS. This Amendment shall be binding upon
all the parties to the Credit Agreement and their respective successors and
assigns, and shall inure to the benefit of, and be enforceable by, the
Administrative Agent and the Banks and their respective successors and assigns
and shall be governed by, and construed and enforced in accordance with, the
internal laws in effect in the State of New York.

                       [INDIVIDUAL SIGNATURE PAGES FOLLOW]

                                       -6-
<PAGE>

IN WITNESS WHEREOF, the parties hereto have caused this Waiver and Consent to be
duly executed and delivered by their proper and duly authorized officers as of
the day and year first above written.

                                    BANK OF AMERICA NATIONAL TRUST AND
                                    SAVINGS ASSOCIATION, as Administrative Agent

                                    By:
                                       -----------------------------------------
                                       Name:
                                       Title:

                                     BANK OF AMERICA NATIONAL TRUST AND
                                     SAVINGS ASSOCIATION, as a Bank

                                     By:
                                       -----------------------------------------
                                        Name:
                                        Title:

                                     AMERICAN LAWYER MEDIA HOLDINGS, INC.

                                     By:
                                       -----------------------------------------
                                        Name:
                                        Title:

                                     AMERICAN LAWYER MEDIA,  INC.

                                     By:
                                       -----------------------------------------
                                        Name:
                                        Title:

                                     BANKBOSTON, N.A., as a Bank

                                     By:
                                       -----------------------------------------
                                        Name:
                                        Title:

                                     CREDIT LYONNAIS, as a Bank

                                     By:
                                       -----------------------------------------
                                        Name:
                                        Title:

                                       -7-
<PAGE>

                               WAIVER AND CONSENT
                               AND THIRD AMENDMENT
                               TO CREDIT AGREEMENT

         This WAIVER AND CONSENT AND THIRD AMENDMENT TO CREDIT
AGREEMENT is entered into as of the 20th day of July, 1999 (this "WAIVER AND
CONSENT") by and among AMERICAN LAWYER MEDIA HOLDINGS, INC., a Delaware
corporation ("HOLDINGS"), AMERICAN LAWYER MEDIA, INC., a Delaware corporation
(the "BORROWER"), the several lenders party hereto (the "REQUIRED BANKS") and
BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, a national banking
association, as administrative agent (the "ADMINISTRATIVE AGENT").

                                    RECITALS

         A. The Borrower, Holdings, various banks and other financial
institutions or entities (collectively, the "BANKS"), the Administrative Agent,
the Issuing Bank, the Syndication Agent and the Arrangers have previously
entered into that certain Credit Agreement, dated as of March 25, 1998, as
amended by the Amendment to Credit Agreement, dated as of April 24, 1998 (the
"FIRST AMENDMENT"), among Holdings, the Borrower, the Required Banks (as defined
therein) and the Administrative Agent, and as amended by the Second Amendment to
Credit Agreement, dated as of April 26, 1999 (the "SECOND AMENDMENT"), among
Holdings, the Borrower, the Required Banks (as defined therein) and the
Administrative Agent (such Credit Agreement, as amended by the First Amendment
and the Second Amendment, collectively, the "CREDIT AGREEMENT").

         B. The Borrower and Holdings have requested that the Required Banks and
the Administrative Agent grant certain waivers and consents as hereinafter
described.

         C. The Required Banks and the Administrative Agent are willing to grant
the requested waivers and consents, subject to the terms and conditions set
forth herein.

         D. The Borrower, Holdings, the Required Banks and the Administrative
Agent desire also to amend the Credit Agreement as set forth herein.

         NOW, THEREFORE, in consideration of the terms and conditions set forth
herein, any extension of credit or other financial accommodation heretofore, now
or hereafter made by any of the Banks or of the Administrative Agent to the
Borrower and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

         1.       RECITALS. The foregoing recitals are accurate and are
incorporated herein and made a part hereof.

         2.       DEFINITIONS AND REFERENCES. Each initially capitalized term
used herein without definition shall have the meaning ascribed to such term in
the Credit Agreement. Unless otherwise specified, references to an article, a
section, a subsection, a schedule or an exhibit are to the Credit Agreement.

<PAGE>

         3.       WAIVERS AND CONSENTS.

                  (a) On December 31, 1998, the Borrower created Professional On
Line, Inc., a Delaware corporation ("POL"), as a Subsidiary and POL issued 100
shares of common stock, par value $.01 per share, to the Borrower. Additionally,
on the same date, Counsel Connect, LLC and Law Journal Extra, Inc. merged with
and into POL, with POL being the surviving corporation in both instances. The
Administrative Agent and the Banks hereby consent to such transactions and,
subject to paragraph 3(d) below, waive any Defaults or Events of Default under
the Credit Agreement and defaults under the other Loan Documents attributable to
such transactions including, without limitation, under Credit Agreement Sections
8.02 (Consolidation, Merger, Purchase or Sale of Assets, etc.), 8.06
(Transactions with Affiliates), 8.12 (Limitation on Issuance of Capital Stock),
8.14 (Limitation on Creation of Subsidiaries), 9.01(b), (c), and (d) (Events of
Default), 7.03(a) (Notices), 6.06 (No Default), 6.15 (Subsidiaries) and 6.17
(Accuracy of Information) and Pledge Agreement Sections 3.2 (Subsequently
Acquired Securities and/or Partnership Interests) and 5 (Voting, Etc., While No
Event of Default), that may be deemed to relate to or arise from the above
described transactions.

                  (b) On or about July 20, 1999:

                           (i) NLP IP Company and The New York Law Publishing
Company intend to dividend the assets constituting the Internet and other
electronic commerce business thereof (the "INTERNET ASSETS") and intend to
transfer liabilities relating to the Internet Assets (the "INTERNET
LIABILITIES"), in each case listed respectively, on SCHEDULE 1 hereto and
SCHEDULE 2 hereto, to National Law Publishing Company, Inc. ("NLPC");

                           (ii) NLPC intends to dividend the Internet Assets
together with the assets constituting the Internet and other electronic commerce
business of NLPC and intends to transfer the Internet Liabilities together with
liabilities relating to the Internet and other electronic business of NLPC, in
each case listed on SCHEDULE 3 hereto, to the Borrower;

                           (iii) the Borrower intends to contribute to POL the
assets and intends to transfer the liabilities, in each case, described in
clauses (i) and (ii) above;

                           (iv) POL intends to recapitalize with the result that
100 shares of preferred stock, par value $.01 per share, of POL and 600 shares
of common stock, par value $.01 per share, of POL will, in each case, be
delivered to and owned by the Borrower; and

                           (v) the Borrower intends (x) to sell to the existing
stockholders of Holdings and to ALM Management Investors, L.L.C. ("ALM
MANAGEMENT") or to an entity owned by them, all of the common stock, par value
$.01 per share, of POL in consideration of $1,000,000 in cash and (y) to pledge
to the Collateral Agent, for the benefit of the Secured Creditors, pursuant to
the Pledge Agreement Section 3.2, all of the preferred stock, par value $.01 per
share, of POL.

The parties understand and agree that the Borrower may supplement or amend the
Schedules attached hereto with the prior written consent of the Administrative
Agent, which consent shall not be unreasonably delayed or withheld.

The Administrative Agent and the Banks hereby consent to such transactions and,
subject to paragraph 3(d) below, waive any Defaults or Events of Default under
the Credit Agreement and defaults under the other Loan Documents attributable to
such transactions including without limitation, Credit Agreement Sections 8.02
(Consolidation, Merger, Purchase or Sale of Assets,

                                       -2-

<PAGE>

etc.), 8.03 (Dividends), 8.05 (Advances, Investments and Loans), 8.06
(Transactions with Affiliates), 8.12 (Limitation on Issuance of Capital Stock),
8.14 (Limitation on Creation of Subsidiaries), 9.01(b), (c), and (d) (Events of
Default), 7.03(a) (Notices), 6.06 (No Default), 6.15 (Subsidiaries) and 6.17
(Accuracy of Information), Pledge Agreement Section 6 (Dividends and Other
Distributions) and Security Agreement Sections 4.2 (Trademark: Licenses and
Assignments) and 5.2 (Patent or Copyright: Licenses and Assignments), that may
be deemed to relate to or arise from the above described transactions.

                  (c) Additionally, the Administrative Agent and the Banks
hereby agree that the proposed contribution of assets by the Borrower to POL
(described in clause (iii) of paragraph 3(b) above) will be excluded from any
determination of compliance by the Borrower with the investment limitations set
forth in Credit Agreement Section 8.05(xii) and (xiii).

                  (d) This Waiver and Consent is specifically limited in time
and scope to the occurrences described herein and the consequences of such
occurrences and shall not be deemed to extend or apply to any other event or
occurrence in existence as of the date hereof or arising hereafter. In addition,
this Waiver and Consent shall not be deemed to constitute a custom or a practice
on the part of any or all of the Banks or the Administrative Agent.

         4.       AMENDMENT.

                  (a) ADJUSTED CONSOLIDATED EBITDA The definition of "Adjusted
Consolidated EBITDA" in Section 1.01 of the Credit Agreement shall be amended by
the deletion of the existing definition and its replacement by the following:

                  "ADJUSTED CONSOLIDATED EBITDA" means, for any Measurement
                  Period, Consolidated EBITDA for such Measurement Period,
                  adjusted by adding thereto up to the Applicable Amount of
                  Development Costs actually incurred by Holdings and its
                  Subsidiaries for such Measurement Period in connection with a
                  Specified Project (defined below); PROVIDED that such
                  Development Costs shall only be added back to the extent that
                  the same reduced Consolidated Net Income for such Measurement
                  Period. For these purposes, and in respect of the Measurement
                  Periods specified, the "Applicable Amount" of Development
                  Costs shall be as follows:

<TABLE>
<CAPTION>

PERIOD                                                    APPLICABLE AMOUNT OF
------                                                      DEVELOPMENT COSTS
                                                          --------------------
(FISCAL QUARTER ENDING)
-----------------------
<S>                                                       <C>
March 31, 1999                                            1,500,000

June 30, 1999                                             4,100,000

September 30, 1999                                        6,700,000

December 31, 1999                                         8,700,000

March 31, 2000                                            9,500,000

June 30, 2000                                             8,600,000

September 30, 2000                                        6,700,000
</TABLE>

                                       -3-

<PAGE>

<TABLE>
<CAPTION>

Period
------                                                 Applicable Amount of
                                                        Development Costs
                                                       --------------------
<S>                                                       <C>
December 31, 2000                                         5,500,000

March 31, 2001 and each fiscal                            4,000,000
quarter thereafter
</TABLE>

                  For purposes of this definition, "Specified Project" means the
                  development of: (i) the publication to be entitled the "Daily
                  Deal", (ii) the Law News Network and (iii) the Borrower's new
                  high-end news letter initiative.

                  (b) Article VIII of the Credit Agreement is hereto amended to
add the following new Section 8.15:

       "8.15 APPROVAL FOR CERTAIN TRANSACTIONS. Notwithstanding anything in
       Section 8.06 to the contrary. Holdings and its subsidiaries shall obtain
       the prior written consent of the Administrative Agent, which consent
       shall not be unreasonably delayed or withheld, prior to executing any
       agreement relating to the categories listed on SCHEDULE 4 hereto with
       Law.Com Acquisition Corp., a Delaware corporation, or its Subsidiaries;
       PROVIDED, HOWEVER, that any non-material amendment, supplement or
       modification to any such agreement shall not require such consent."

                  (c) Section 8.14 of the Credit Agreement is hereby amended (i)
to insert on the fifth line of such section (directly following the phrase "so
long as") the following: ", within 30 days of such establishment, creation or
acquisition, as the case may be," and (ii) to insert on the twelfth line of such
section (directly following the phrase "cause to be executed and delivered,")
the following: ", within 30 days of establishment, creation or acquisition, as
the case may be,".

                  (d) Article XII of the Credit Agreement is hereby amended to
add the following new Section 12.18:

       "12.18 PROFESSIONAL ON LINE, INC. Notwithstanding any other provision of
       this Agreement or any other Loan Document, upon consummation of the sale
       contemplated by paragraph 3(b)(v) hereof (a) Professional On Line, Inc.,
       a Delaware corporation ("POL"), and any Subsidiaries of POL from time to
       time in existence, shall be excluded and released from all
       representations, warranties, covenants and other obligations under the
       Loan Documents applicable to Subsidiaries of the Borrower, (b) POL and
       its Subsidiaries shall not be obligated to become parties to the Pledge
       Agreement, the Subsidiary Guaranty, the Security Agreement, any Guarantor
       Supplement or any other Loan Document but (c) the Borrower shall be
       required to pledge the preferred stock of POL to the Collateral Agent
       pursuant to the Pledge Agreement."

                  (e) Section 3.2 of the Pledge Agreement is hereby amended to
insert on the fourth line of such section (immediately following the phrase
"promptly thereafter") the following: ", and in any event within 30 days,".

                                       -4-

<PAGE>

                  (f) Section 3.3 of the Pledge Agreement is hereby amended to
insert on the fourth line of such section (immediately following the phrase
"shall promptly") the following: ", and in any event within 30 days,".

       5. CONDITIONS TO EFFECTIVENESS. Provided that no unwaived Default or
Event of Default shall then exist other than any Default or Event of Default
relating to or arising from any of the transactions described in paragraph 3
hereof, this Waiver and Consent shall be deemed to be effective as of July 20,
1999 (the "EFFECTIVE DATE"), provided the Administrative Agent shall have
received on or before July 20, 1999 each of the following in form and substance
satisfactory to the Administrative Agent:

                  (a) A duly executed original or facsimile counterpart of this
Waiver and Consent executed by the Borrower, Holdings, the Administrative Agent
and the Banks;

                  (b) True, complete and accurate copies, duly certified by an
officer of the Borrower and Holdings, respectively, of all documents evidencing
any necessary corporate action, resolutions, consents and governmental
approvals, if any, required for the execution, delivery and performance of this
Waiver and Consent, and any other document, instrument or agreement executed or
delivered in connection therewith by the Borrower or Holdings;

                  (c) Such other documents, instruments or agreements as the
Administrative Agent may reasonably request.

       6. REPRESENTATIONS AND WARRANTIES. In order to induce the Administrative
Agent and the Required Banks to enter into this Waiver and Consent, the Borrower
and Holdings hereby represent, warrant and certify to each of the Administrative
Agent and the Banks that, except as described in paragraph 3 above, as of the
date of this Waiver and Consent and as of the Effective Date and after giving
effect to this Waiver and Consent:

                  (a) no Default or Event of Default exists before and after
giving effect to the waivers and consents contained herein;

                  (b) each and every representation and warranty contained in
the Loan Documents is true, correct, complete and accurate with the same effect
as if then made, except to the extent that such representations and warranties
relate solely to an earlier date (in which case such representations and
warranties shall have been true, correct, complete and accurate on and as of
such earlier date); and

                  (c) the Borrower and Holdings are in compliance with all of
the covenants contained in the Loan Documents.

       7. FULL FORCE AND EFFECT. Except as specifically modified or amended by
the terms of this Waiver and Consent, the other Loan Documents and all
provisions contained therein are, and shall continue, in full force and effect
and are hereby ratified and confirmed.

       8. INDEMNITIES. The Borrower and Holdings shall, jointly and severally,
indemnify and hold the Banks, the Administrative Agent, their assignees and
participants and their respective affiliates, officers, employees, directors,
agents and attorneys (collectively, "INDEMNIFIED PARTIES") harmless from any and
all liabilities, obligations, losses, penalties, actions, judgments, suits,
costs, expenses or disbursements of any kind or nature whatsoever incurred by
the Indemnified Parties, or any of them, whether direct, indirect or
consequential, as a result of or arising from or relating to any proceeding by,
or on behalf of any Person including, without limitation, officers, directors,
agents, trustees, creditors, partners or shareholders of the

                                       -5-

<PAGE>

Borrower and Holdings, whether threatened or initiated, asserting any claim for
legal or equitable remedy under any statute, regulation or common law principle
arising from or in connection with the negotiation, preparation, execution,
delivery, performance, administration and enforcement of this Waiver and Consent
or any other document executed in connection herewith, provided that the
Borrower and Holdings shall have no obligation hereunder with respect to
indemnified liabilities arising from the gross negligence or willful misconduct
of any of the Indemnified Parties seeking such indemnification. The foregoing
indemnity shall survive the payment in full of the Obligations and the
termination of this Waiver and Consent, and shall not in any way limit or modify
the provisions of Section 12.05 of the Credit Agreement.

       9. COUNTERPARTS. This Waiver and Consent may be executed in any number of
separate counterparts, each of which shall be deemed to be an original and all
of which together shall be deemed to be one and the same instrument.

       10. MISCELLANEOUS. This Waiver and Consent shall be binding upon the
Borrower, Holdings and their successors and assigns, and shall inure to the
benefit of, and be enforceable by, the Administrative Agent and the Banks and
their respective successors and assigns and shall be governed by, and construed
and enforced in accordance with, the internal laws in effect in the State of New
York without giving effect to principles of choice of law.

                       [INDIVIDUAL SIGNATURE PAGES FOLLOW]

                                       -6-

<PAGE>

IN WITNESS WHEREOF, the parties hereto have caused this Waiver and Consent to be
duly executed and delivered by their proper and duly authorized officers as of
the day and year first above written.

                                    BANK OF AMERICA NATIONAL TRUST AND
                                    SAVINGS ASSOCIATION, as Administrative Agent

                                    By:
                                       -----------------------------------------
                                       Name:
                                       Title:

                                     BANK OF AMERICA NATIONAL TRUST AND
                                     SAVINGS ASSOCIATION, as a Bank

                                     By:
                                       -----------------------------------------
                                        Name:
                                        Title:

                                     AMERICAN LAWYER MEDIA HOLDINGS, INC.

                                     By:
                                       -----------------------------------------
                                        Name:
                                        Title:

                                     AMERICAN LAWYER MEDIA,  INC.

                                     By:
                                       -----------------------------------------
                                        Name:
                                        Title:

                                     BANKBOSTON, N.A., as a Bank

                                     By:
                                       -----------------------------------------
                                        Name:
                                        Title:

                                     CREDIT LYONNAIS, as a Bank

                                     By:
                                       -----------------------------------------
                                        Name:
                                        Title:

                                       -7-

<PAGE>

                                                                      SCHEDULE 1

                 NLP IP COMPANY INTERNET ASSETS AND LIABILITIES

-        National and regional web sites

-        Law journal information systems (excluding the court calendar and other
         databases)

-        Uniform resource locators relating to national and regional web sites
         and law journal information systems (excluding the court calendar and
         other databases)

-        Accounts receivable

-        Trade payables

-        Employee accruals and related liabilities

<PAGE>

                                                                      SCHEDULE 2

       THE NEW YORK LAW PUBLISHING COMPANY INTERNET ASSETS AND LIABILITIES

-        National and regional web sites

-        Law journal information systems (excluding the court calendar and other
         databases)

-        Uniform resource locators relating to national and regional web sites
         and law journal information systems (excluding the court calendar and
         other databases)

-        Accounts receivable

-        Trade payables

-        Employee accruals and related liabilities

<PAGE>

                                                                      SCHEDULE 3

         NATIONAL LAW PUBLISHING COMPANY INTERNET ASSETS AND LIABILITIES

-        National and regional web sites

-        Law journal information systems (excluding the court calendar and other
         databases)

-        Uniform resource locators relating to national and regional web sites
         and law journal information systems (excluding the court calendar and
         other databases)

-        Accounts receivable

-        Trade payables

-        Employee accruals and related liabilities

<PAGE>

                                                                      SCHEDULE 4

1.       License agreements relating to the MA3000 database

2.       Content license agreements

3.       Advertising agreements

4.       Classified advertising revenue sharing agreements

5.       Administrative services agreements
<PAGE>

                                   CONSENT AND
                                FOURTH AMENDMENT
                               TO CREDIT AGREEMENT

         This CONSENT AND FOURTH AMENDMENT TO CREDIT AGREEMENT is entered into
as of the __th day of March, 2000 (the "CONSENT AND FOURTH AMENDMENT") by and
among AMERICAN LAWYER MEDIA HOLDINGS, INC., a Delaware corporation ("HOLDINGS"),
AMERICAN LAWYER MEDIA, INC., a Delaware corporation (the "BORROWER"), the
several lenders from time to time party to the Consent and Fourth Amendment (the
"REQUIRED BANKS") and BANK OF AMERICA, N.A. (as successor in interest to BANK OF
AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION), a national banking association,
as administrative agent (the "ADMINISTRATIVE AGENT").

                                    RECITALS

         A. The Borrower, Holdings, various banks and other financial
institutions or entities (collectively, the "BANKS"), the Administrative Agent,
the Issuing Bank, the Syndication Agent and the Arrangers previously entered
into that certain Credit Agreement dated as of March 25, 1998, as amended by the
Amendment to Credit Agreement, dated as of April 24, 1998 (the "FIRST
AMENDMENT"), among Holdings, the Borrower, the Required Banks (as defined
therein) and the Administrative Agent, as further amended by the Second
Amendment to Credit Agreement, dated as of April 26, 1999 (the "SECOND
AMENDMENT"), among Holdings, the Borrower, the Required Banks (as defined
therein) and the Administrative Agent, as further amended by the Waiver and
Consent and Third Amendment to Credit Agreement, dated as of July 20, 1999 (the
"WAIVER AND CONSENT AND THIRD AMENDMENT"), among Holdings, the Borrower, the
Required Banks (as defined therein) and the Administrative Agent, and as further
modified by the Waiver to Credit Agreement dated as of November 12, 1999 (the
"WAIVER") among Holdings, the Borrower, the Required Banks and the
Administrative Agent (such Credit Agreement, as amended by the First Amendment,
the Second Amendment, the Waiver and Consent and Third Amendment, and the
Waiver, collectively, the "CREDIT AGREEMENT").

         B. The Borrower and Holdings have requested that the Required Banks and
the Administrative Agent grant certain consents as hereinafter described.

         C. The Required Banks and the Administrative Agent are willing to grant
the requested consents, subject to the terms and conditions set forth herein.

         D. The Borrower, Holdings, the Required Banks and the Administrative
Agent desire also to amend the Credit Agreement as set forth herein.

         NOW, THEREFORE, in consideration of the terms and conditions set forth
herein, any extension of credit or other financial accommodation heretofore, now
or hereafter made by any of the Banks or the Administrative Agent to the
Borrower and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

<PAGE>

                  1. RECITALS. The foregoing recitals are accurate and are
incorporated herein and made a part hereof.

                  2. DEFINITIONS AND REFERENCES. Each initially capitalized term
used herein without definition shall have the meaning ascribed to such term in
the Credit Agreement. Unless otherwise specified, references to an article, a
section, a subsection, a schedule or an exhibit are to the Credit Agreement.

                  3. CONSENTS.

                           (a)      The Borrower intends to sell substantially
all of the assets and liabilities of the business of the Borrower and its direct
and indirect Subsidiaries engaged in the publication of "The Daily Deal" and
"Corporate Control Alert" in printed and electronic form to a limited liability
company (the "LLC") to be organized and owned (directly or indirectly) by all or
substantially all of the stockholders of Holdings, in return for cash
consideration and a membership interest issued by the LLC (the "MEMBERSHIP
INTEREST"). Upon the issue to it of certificates representing the Membership
Interest, the Borrower will pledge to the Collateral Agent, for the benefit of
the Secured Creditors, pursuant to Section 3.2 of the Pledge Agreement, all of
such certificates. In connection with the Transaction (as defined below),
certain assets of the business mentioned above will, prior to the sale thereof,
be dividended by one or more Subsidiaries of the Borrower to the Borrower. The
transactions referred to in this paragraph 3(a) shall be referred to in the
aggregate as the "TRANSACTION".

                           (b)      Notwithstanding anything to the contrary in
the Loan Documents, the Administrative Agent and the Banks hereby consent to the
Transaction so long as (i) the aggregate consideration received by the Borrower
in connection therewith is at least $9,700,000, (ii) at least 75% of such
consideration consists of cash, with the balance consisting of the Membership
Interest, and (iii) all such consideration is received at the time of the
consummation of the Transaction. Upon the consummation of the Transaction, the
Administrative Agent (including in its capacity as Collateral Agent) and the
Banks hereby agree that the assets so sold shall be sold free and clear of the
Liens created by the respective Collateral Documents.

                           (c)      The Administrative Agent and the Banks
hereby agree that the Transaction and any disposal of the Membership Internet
(which is otehrwise in accordance with the terms of the Credit Agreement) will
be excluded from any determination of compliance by the Borrower with the asset
sale limitations set forth in Credit Agreement Section 8.02(iv)and the
investment limitations set forth in Credit AGreement Section 8.05(xiii).

                                      -2-
<PAGE>

                           (d)      The Administrative Agent and the Banks
further agree that, notwithstanding anything to the contrary contained in
Section 2.05(f) of the Credit Agreement, the Net Sale Proceeds from (i) the
Transaction and/or (ii) any disposal of the Membership Interest (which is
otherwise in accordance with the terms of the Credit Agreement), may be
reinvested in a Person, business, assets or property which in the good faith
reasonable judgment of the Board of Directors of the Borrower will constitute or
be a part of a Related Business (as defined in the Borrower Senior Note
Indenture) within 265 days following the date of the Transaction or, as the case
may be, such disposal, so long as such reinvestment is otherwise permitted under
the Credit Agreement; PROVIDED, HOWEVER, that if all or any portion of such Net
Sale Proceeds are not so reinvested within such 265 day period (or such earlier
date, if any, on which the Board of Directors of the Borrower determines not to
so reinvest such Net Sale Proceeds), the Aggregate Revolving Commitment shall be
permanently reduced on the last day of such period (or such earlier date, as the
case may be) by an amount equal to such remaining portion.

                           (e)      Finally, the Administrative Agent and the
Banks agree that, for the purposes of Section 2.05(h) of the Credit Agreement,
any gain on the proceeds of (i) the Transaction, and (ii) any disposal of the
Membership Interest (which is otherwise in accordance with the terms of the
Credit Agreement), received by the Borrower shall be deemed to be excluded from
the Excess Cash Flow calculation in respect of the Excess Cash Payment Period
during which such proceeds are received by the Borrower (by excluding an amount
equal to such gain from Adjusted Consolidated Net Income for such period).

                           (f)      The consents described in this Section 3 are
specifically limited in scope to the Transaction and other circumstances
described herein and shall not be deemed to extend or apply to any other event
or circumstance in existence as of the date hereof or arising hereafter. In
addition, the consents described in this Section 3 shall not be deemed to
constitute a custom or a practice on the part of any or all of the Banks or the
Administrative Agent.

                  4. AMENDMENT. It is hereby agreed that the Credit Agreement
shall be amended, effective as of the Effective Date (defined below), as
follows:

(a)      SECTION 1.01 (DEFINED TERMS): "ADJUSTED CONSOLIDATED EBITDA":

         The definition of "Adjusted Consolidated EBITDA" in Section 1.01 of the
         Credit Agreement shall be amended by the deletion of the existing
         definition and its replacement by the following:

         "ADJUSTED CONSOLIDATED EBITDA" means, for any Measurement Period,
         Consolidated EBITDA for such Measurement Period, adjusted by adding
         thereto up to the Applicable Amount of Development Costs actually
         incurred by Holdings and its Subsidiaries for such Measurement Period
         in connection with a Specified Project (defined below); PROVIDED that
         such Development Costs shall only be added back to the extent that the
         same reduced Consolidated Net Income for such Measurement Period. For
         these purposes, and in respect of the Measurement Periods specified
         below, the "Applicable Amount" of Development Costs shall be as
         follows:

                                      -3-
<PAGE>

<TABLE>
<CAPTION>

                -------------------------------------------  -------------------------------------
                MEASUREMENT PERIOD                                  Applicable Amount of
                (FISCAL QUARTER ENDING)                               DEVELOPMENT COSTS
                -------------------------------------------  ------------------------------------
         <S>                                                     <C>
                March 31, 1999                                        1,500,000
                -------------------------------------------  -------------------------------------
                June 30, 1999                                         4,100,000
                -------------------------------------------  -------------------------------------
                September 30, 1999                                    7,300,000
                -------------------------------------------  -------------------------------------
                December 31, 1999                                     11,850,000
                -------------------------------------------  ------------------------------------
                March 31, 2000                                        12,300,000
                -------------------------------------------  ------------------------------------
                June 30, 2000                                         11,400,000
                -------------------------------------------  -------------------------------------
                September 30, 2000                                    7,800,000
                -------------------------------------------  -------------------------------------
                December 31, 2000                                     4,000,000
                -------------------------------------------  -------------------------------------
                March 31, 2001 and each fiscal quarter                4,000,000
                thereafter
                -------------------------------------------  -------------------------------------
</TABLE>

       Provided that the Applicable Amount of Development Costs for all
       Measurement Periods from (and including) the fiscal quarter ending March
       31, 2000 to (and including) the fiscal quarter in which substantially all
       of the assets and liabilities comprising "The Daily Deal" publication are
       sold by the Borrower shall be increased by the amount of Development
       Costs actually incurred by Holdings and its Subsidiaries for such
       Measurement Periods in connection with the Specified Project stated under
       clause (i) of the definition thereof below but only to the extent that
       such Development Costs do not exceed, in aggregate, the cash
       consideration received by the Borrower in respect of such sale.

       For purposes of this definition, "Specified Project" means the
       development of: (i) the business comprising "The Daily Deal" publication,
       (ii) the business of Professional On Line, Inc., (iii) the Borrower's
       high-end newsletter initiative, (iv) the Borrower's "Directory
       Publishing" division, and (v) an international network of offices of the
       Borrower as part of the "International Expansion" initiative."

(b) SECTION 2.01 (AMOUNTS AND TERMS OF COMMITMENT):

       Section 2.01(b) of the Credit Agreement shall be amended by replacing the
       amount "$20,000,000" where it appears in such Section with the amount
       "$22,500,000".

(c) SECTION 8.06 (TRANSACTIONS WITH AFFILIATES):

       Section 8.06 of the Credit Agreement shall be amended by the addition of
       a new Section 8.06(vi) as follows:

                                      -4-
<PAGE>

       "(vi) any agreement between the LLC (or its successors) and the Borrower
       or any of its Subsidiaries with respect to the business comprising "The
       Daily Deal" and "Corporate Control Alert" publications so long as such
       agreement is otherwise on an arms' length basis."

(d)    SECTION 8.07 (CONSOLIDATED INTEREST COVERAGE RATIO):

       The ratios set forth in Section 8.07 of the Credit Agreement with respect
       to the periods set forth below shall be amended by deleting the existing
       ratio corresponding to the respective periods set forth below and
       substituting therefor the respective ratios specified below for the same
       corresponding periods:
<TABLE>
<CAPTION>

                  FISCAL QUARTER ENDING                       RATIO
<S>                                                         <C>
                  December 31, 1999                           1.50:1.00
                  March 31, 2000                              1.50:1.00
                  June 30, 2000                               1.60:1.00
                  September 30, 2000                          1.60:1.00
                  December 31, 2000                           1.90:1.00
</TABLE>

(e)    SECTION 8.08 (CONSOLIDATED FIXED CHARGE COVERAGE RATIO):

       The ratio set forth in Section 8.08 of the Credit Agreement with respect
       to the period set forth below shall be amended by deleting the existing
       ratio corresponding to the period set forth below and substituting
       therefor the ratio specified below for the same corresponding period:

<TABLE>
<CAPTION>

                  FISCAL QUARTER ENDING                       RATIO
         <S>                                                 <C>
                  December 31, 1999                           0.95:1.00
</TABLE>

(f)    SECTION 8.09 (MAXIMUM TOTAL LEVERAGE RATIO):

       Section 8.09 of the Credit Agreement shall be amended by deleting the
       existing table of periods and corresponding ratios and substituting
       therefor the following:

<TABLE>
<CAPTION>

PERIOD                                                      RATIO
------                                                      -----

<S>                                                       <C>
June 30, 1998 through and including
December 30, 1998                                           7.75:1.00

December 31, 1998 through and including
March 30, 1999                                              7.50:1.00

March 31, 1999 through and including June
29, 1999                                                    8.25:1.00

June 30, 1999 through and including
September 29, 1999                                          8.25:1.00

September 30, 1999 through and including
</TABLE>

                                      -5-
<PAGE>

<TABLE>

<S>                                                       <C>
December 30, 1999                                           8.00:1.00

December 31, 1999 through and including
March 30, 2000                                              8.25:1.00

March 31, 2000 through and including
June 29, 2000                                               8.25:1.00

June 30, 2000 through and including
September 29, 2000                                          7.75:1.00

September 30, 2000 through and including
December 30, 2000                                           7.75:1.00

December 31, 2000 through and including
December 30, 2001                                           6.75:1.00

Thereafter                                                  6.00:1.00
</TABLE>

                  5. FEES. In consideration for the consents and amendments
herein contained, the Borrower and Holdings agree that a fee of $100,000 shall
be payable by the Borrower to the Administrative Agent (for the PRO RATA
distribution to the Banks), $50,000 of which shall be payable on or prior to the
Effective Date and the remaining $50,000 of which shall be payable upon (and
only upon) the date referred to in Section 2.01(b) of the Credit Agreement (as
amended hereby) on which the cap of $22,500,000 referred to therein is no longer
applicable in accordance therewith or, if earlier, the date on which such cap is
raised by agreement of the Required Banks.

                  6. CONDITIONS TO EFFECTIVENESS. Provided that no unwaived
Default or Event of Default shall then exist, this Consent and Fourth Amendment
shall be deemed to be effective upon (I) consummation of the initial capital
contribution to the LLC and (II) the Administrative Agent's receipt of:

                     (a) one or more duly executed original or facsimile
counterparts of this Consent and Fourth Amendment executed by the Borrower,
Holdings, the Administrative Agent and the Required Banks;

                     (b) the initial $50,000 fee referred to in Section 5
hereof;

                     (c) the Borrower's written confirmation of the consummation
of the Transaction, the material terms and conditions of which shall have been
approved in writing by the Administrative Agent (although this clause (c) shall
be the last event to occur under this Section 6);

                     (d) true, complete and accurate copies, duly certified by
an officer of the Borrower and Holdings, respectively, of all documents
evidencing any necessary corporate action, resolutions, consents and
governmental approvals, if any, required for the execution, delivery and
performance of this Consent and Fourth Amendment, and any other document,
instrument or agreement executed or delivered in connection therewith by the
Borrower or Holdings; and

                                      -6-
<PAGE>

                     (e) such other documents, instruments or agreements as the
Administrative Agent may reasonably request.

                  The date on which all such conditions are satisfied being the
"EFFECTIVE DATE".

                  7. REPRESENTATIONS AND WARRANTIES. In order to induce the
Administrative Agent and the Required Banks to enter into this Consent and
Fourth Amendment, the Borrower and Holdings hereby represent, warrant and
certify to each of the Administrative Agent and the Banks that, as of the date
of this Consent and Fourth Amendment and as of the Effective Date and after
giving effect to this Consent and Fourth Amendment:

                     (a) no Default or Event of Default exists;

                     (b) each and every representation and warranty contained in
the Loan Documents is true, correct, complete and accurate with the same effect
as if then made, except to the extent that such representations and warranties
relate solely to an earlier date (in which case such representations and
warranties shall have been true, correct, complete and accurate on and as of
such earlier date); and

                     (c) the Borrower and Holdings are in compliance with all of
the covenants contained in the Loan Documents.

                  8. FULL FORCE AND EFFECT. Except as specifically modified or
amended by the terms of this Consent and Fourth Amendment, the Loan Documents
and all provisions contained therein are, and shall continue, in full force and
effect and are hereby ratified and confirmed.

                  9. INDEMNITIES. The Borrower and Holdings shall, jointly and
severally, indemnify and hold the Banks, the Administrative Agent, their
assignees and participants and their respective affiliates, officers, employees,
directors, agents and attorneys (collectively, "INDEMNIFIED PARTIES") harmless
from any and all liabilities, obligations, losses, penalties, actions,
judgments, suits, costs, expenses or disbursements of any kind or nature
whatsoever incurred by the Indemnified Parties, or any of them, whether direct,
indirect or consequential, as a result of or arising from or relating to any
proceeding by, or on behalf of, any Person including, without limitation,
officers, directors, agents, trustees, creditors, partners, shareholders or
affiliates of the Borrower, Holdings and their respective Subsidiaries, whether
threatened or initiated, asserting any claim for legal or equitable remedy under
any statute, regulation or common law principle arising from or in connection
with the negotiation, preparation, execution, delivery, performance,
administration and enforcement of this Consent and Fourth Amendment or any other
document executed in connection herewith, provided that the Borrower and
Holdings shall have no obligation hereunder with respect to indemnified
liabilities arising from the gross negligence or willful misconduct of any of
the Indemnified Parties seeking such indemnification. The foregoing indemnity
shall survive the payment in full of the Obligations and the termination of this
Consent and Fourth Amendment, and shall not in any way limit or modify the
provisions of Section 12.05 of the Credit Agreement.

                  10. COUNTERPARTS. This Consent and Fourth Amendment may be
executed in any number of separate counterparts, each of which shall be deemed
to be an original and all of which together shall be deemed to be one and the
same instrument.

                                      -7-
<PAGE>

                  11. MISCELLANEOUS. This Consent and Fourth Amendment shall be
binding upon all the parties to the Credit Agreement and their respective
successors and assigns, and shall inure to the benefit of, and be enforceable
by, the Administrative Agent and the Banks and their respective successors and
assigns and shall be governed by, and construed and enforced in accordance with,
the internal laws in effect in the State of New York without giving effect to
principles of choice of law.

                       [INDIVIDUAL SIGNATURE PAGES FOLLOW]

                                      -8-
<PAGE>

                  IN WITNESS WHEREOF, the parties hereto have caused this
Consent and Fourth Amendment to be duly executed and delivered by their proper
and duly authorized officers as of the day and year first above written.

                              BANK OF AMERICA, N.A. (as successor in interest to
                              BANK OF AMERICA NATIONAL TRUST AND SAVINGS
                              ASSOCIATION), as Administrative Agent

                              By:
                                 ----------------------------------------------
                                 Name:
                                 Title:

                              BANK OF AMERICA, N.A. (as successor in interest to
                              BANK OF AMERICA NATIONAL TRUST AND SAVINGS
                              ASSOCIATION), as a Bank

                              By:
                                ------------------------------------------------
                                Name:
                                Title:

                              BANKBOSTON, N.A., as a Bank

                              By:
                                 ----------------------------------------------
                                 Name:
                                 Title:

                              CREDIT LYONNAIS, as a Bank

                              By:
                                -----------------------------------------------
                                Name:
                                Title:

                              AMERICAN LAWYER MEDIA HOLDINGS, INC.

                              By:
                                ------------------------------------------------
                                Name:
                                Title:

                              AMERICAN LAWYER MEDIA, INC.

                              By:
                                ------------------------------------------------
                                Name:
                                Title:<PAGE>

                                                                    EXHIBIT 10.6

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR CERTAIN PORTIONS OF THIS DOCUMENT.
CONFIDENTIAL PORTIONS HAVE BEEN FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION.

                                LICENSE AGREEMENT

         This Agreement is entered into between American Lawyer Media, Inc., a
Delaware corporation with offices at 345 Park Avenue South, New York, NY 10010,
("ALM") and Law.com, Inc., a Delaware corporation with offices at 10 United
Nations Plaza, suite 410, San Francisco, CA 94102, ("LAW.COM").

         ALM publishes several publications. Law.com desires to acquire the
exclusive worldwide rights to distribute the content of certain ALM publications
electronically and/or digitally.

         THEREFORE, the parties agree as follows:

1.       DEFINITIONS

         As used herein the following terms shall have the following definition:

         "ADDITIONAL CONTENT" means any new product created by ALM and licensed
to Law.com pursuant to Section 2.6.

         "AGREEMENT YEAR" means each twelve-month period during the Term
commencing on December 1.

         "AFFILIATE" means, with respect to any Person, any other Person
directly or indirectly controlling, controlled by or under common control with
the first Person. For the purposes of this Agreement, "CONTROL," when used with
respect to any Person, means the possession, directly or indirectly, of the
power to (a) vote 10% or more of the securities having ordinary voting power for
the election of directors (or comparable positions) of such Person or (b) direct
or cause the direction of the management and policies of such Person, whether
through the ownership of voting securities, by contract or otherwise, and the
terms "CONTROLLING" and "CONTROLLED" have meanings correlative to the foregoing.

         "ALM CONTENT" means the material contained in the current or future ALM
Publications during the Term of this Agreement.

         "ALM CONTENT FEE" means the payment due under Section 3.1.

         "ALM CONTENT LICENSE" means the license with respect to the ALM Content
as set forth in Section 2.1.

         "ALM PUBLICATIONS" means the publications listed in Exhibit A.

<PAGE>

         "BUSINESS DAY" means a day other than a Saturday, Sunday or a day on
which banks located in New York City or San Francisco are authorized or required
to close.

         "CONTENT LICENSES" means the licenses granted pursuant to Sections 2.1,
2.2 and 2.6.

         "ELECTRONIC PUBLICATION" or "ELECTRONIC PUBLISHING" means all forms of
publications or publishing in digital or electronic media, whether now in
existence or in the future developed, including, without limitation, publication
or publishing on the Internet, worldwide web or any other digital or electronic
network accessible by the public and excluding all non-electronic or non-digital
media (such as, without limitation, print, television, audio tape and radio).

         "GAAP" means U.S. generally accepted accounting principles,
consistently applied.

         "LAW" means any federal, foreign, state or local statute, law, rule,
regulation, ordinance, code, permit, license, policy or rule of common law.

         "LICENSED CONTENT" means all ALM Content, all MA 3000 Content and all
Additional Content.

         "LICENSED URLS" means the URLs listed in Exhibit B.

         "MA 3000 CONTENT" means all court-related information formerly used by
the Law Journal Information Systems Division of ALM in connection with its MA
3000 products.

         "MA 3000 CONTENT FEE" means the payments due under Section 3.2.

         "MA 3000 CONTENT LICENSE" means the license with respect to the MA 3000
Content as set forth in Section 2.2.

         "NON-PUBLICATION RELATED SITES" means all State Sites which are not
Publication Related Sites.

         "PERSON" means an individual, corporation, partnership, limited
liability company, association, joint venture, trust or other entity or
organization, including a governmental authority.

         "PUBLICATION RELATED SITES" means State Sites corresponding to ALM
publications, including nylj.com, callaw.com, etc.

         "STATE SITES" means the network of state web sites owned and operated
by Law.com pursuant to Section 5.1.

         "TERM" means the period from December 1, 1999 through November 30, 2004
and, if not terminated by one party in accordance with Section 9.1, for a
five-year renewal period.

<PAGE>

         "TRANSFER" means any sale, assignment, transfer, conveyance and
delivery or other disposition.

2.       LICENSE

         2.1 ALM CONTENT LICENSE. ALM grants to Law.com an exclusive license to
Electronically Publish all ALM Content throughout the world.

         2.2 MA 3000 LICENSE. ALM grants to Law.com an exclusive license to
Electronically Publish all MA 3000 Content throughout the world.

         2.3 LIMITATIONS ON LICENSES. Law.com shall not have the right to
change, modify or adapt Licensed Content, other than editing necessary to adapt
the Licensed Content for Electronic Publication.

         2.4 PRE-EXISTING RIGHTS. The Content Licenses shall be subject to
(i) ALM's existing or prospective agreements with [CONFIDENTIAL PORTION](1),
or their respective successors or assigns, which may contain components
relating to the distribution of ALM Content published through electronic
media, (ii) any agreements listed on Schedule 1 attached hereto, and (iii)
any retention of rights by third parties.

         2.5 SUBLICENSES. [CONFIDENTIAL PORTION] In no event may any such
sublicense exceed the scope or Term of this Agreement and any sublicense
purporting to do so shall be void. Law.com shall notify ALM of all sublicenses
and shall provide copies thereof to ALM immediately upon execution.

         2.6 ADDITIONAL CONTENT LICENSES. [CONFIDENTIAL PORTION]

         2.7 DELIVERY OF CONTENT. All License Content shall be delivered to
Law.com in a mutually agreed format.

         2.8 TIMING OF PUBLICATION. ALM may require that the Licensed Content be
Electronically Published simultaneously with print distribution. Law.com may not
Electronically Publish any Licensed Content before print distribution thereof
without ALM's prior consent.

         2.9 PROPRIETARY RIGHTS. Law.com acknowledges and agrees that the
Licensed Content and all right, title and interest therein, is and shall remain
the exclusive property of ALM and, except as expressly described in this
Agreement, Law.com shall have no rights to copy, use, reproduce, display,
perform, modify or transfer the Licensed Content, or any derivative works
thereof. Law.com shall not use the Licensed Content for any use other than
described herein without the prior written approval of ALM.

-----------------------
(1) Confidential treatment has been requested for all redacted portions.

<PAGE>

3.       PAYMENTS

         3.1 ALM CONTENT FEES. [CONFIDENTIAL PORTION]

         3.2 MA CONTENT 3000 FEES. [CONFIDENTIAL PORTION]

         3.3 PAYMENT SCHEDULE. The MA 3000 Content Fee and the ALM Content Fee
shall be paid in twelve equal installments on the first day of each month during
the Term.

         3.4 ENHANCEMENTS. [CONFIDENTIAL PORTION]

         3.5 ADDITIONAL CONTENT FEE. Law.com shall pay to ALM an Additional
Content Fee which shall be the sum of the following:

<TABLE>
<CAPTION>

     ---------------------------------- ---------------------------------- -------------------------------------------
              Agreement Year                 [CONFIDENTIAL                            [CONFIDENTIAL PORTION]
                                               PORTION]
     ---------------------------------- ---------------------------------- -------------------------------------------
<S>                                     <C>                                <C>
                     1
     ---------------------------------- ---------------------------------- -------------------------------------------
                     2
     ---------------------------------- ---------------------------------- -------------------------------------------
                     3
     ---------------------------------- ---------------------------------- -------------------------------------------
                     4
     ---------------------------------- ---------------------------------- -------------------------------------------
                     5
     ---------------------------------- ---------------------------------- -------------------------------------------
</TABLE>

         [CONFIDENTIAL PORTION]

4.       LICENSED URLS

         4.1 URL LICENSE. ALM grants to Law.com a license to the Licensed URLs.

         4.2 OWNERSHIP OF URLS. ALM shall retain title to all Licensed URLS.

         4.3 MAINTENANCE OF LICENSED URLS. Law.com shall be responsible for
maintenance, administration, and registration or other maintenance costs
relating to the Licensed URLS.

5.       STATE SITES

         5.1 OWNERSHIP. Law.com shall create, operate, and own the State Sites.

         5.2 EDITORIAL CONTENT. ALM will control all Licensed Content with
respect to the editorial portion of the Publication Related Sites.

         5.3 ACCESS TO SITES. All State Sites, including Publication Related
Sites, will contain dual levels of accessibility, with both paid and free
sections.

         5.4 SUBSCRIPTION PRICING. [CONFIDENTIAL PORTION]

<PAGE>

         5.5 MARKETING. [CONFIDENTIAL PORTION]

         5.6 ACCESS TO CUSTOMER LISTS. Each party will have access to customer
lists and other data accumulated with respect to customers by the other party.

6.       ADVERTISING

         6.1 STATE SITE ADVERTISING.  [CONFIDENTIAL PORTION]

         6.2 NATIONAL ADVERTISING SALES. [CONFIDENTIAL PORTION]

         6.3 CLASSIFIED ADVERTISING SALES. [CONFIDENTIAL PORTION] Law.com shall
be the exclusive on-line distributor of ALM's classified advertising during the
Term. Determination as to which ALM classified advertising appears on Law.com
shall be determined by Law.com. ALM will, on a non-exclusive basis, establish a
national online classified sales force that will be responsible for selling
online classified advertising and will work with Law.com toward establishing and
meeting revenue goals. [CONFIDENTIAL PORTION]

<TABLE>
<CAPTION>

            --------------------- ----------------------------------
               Agreement                 CONFIDENTIAL
                 Year                       PORTION
            --------------------- ----------------------------------
                 <S>                  <C>
                     1
            --------------------- ----------------------------------
                     2
            --------------------- ----------------------------------
                     3
            --------------------- ----------------------------------
                     4
            --------------------- ----------------------------------
                     5
            --------------------- ----------------------------------
</TABLE>

         ALM will cooperate with Law.com to determine pricing for online
classified advertising.

         6.4 INTERCOMPANY ADVERTISING / PROMOTION. [CONFIDENTIAL PORTION]

7.       ALM NATIONAL PUBLICATION SITES

         7.1 SITE DEVELOPMENT. Law.com shall cooperate with ALM to promptly
develop marketing sites corresponding to existing ALM national publications.
These sites will contain, among other things, limited editorial content, a table
of contents with respect to the relevant publication, and will be updated
periodically.

         7.2 SITE DESIGN. The sites shall be designed to market and promote the
brand of the corresponding publication and to reroute traffic primarily to
Law.com national sites.

8.       CUSTOMER SERVICE

<PAGE>

         8.1 CUSTOMER SUPPORT. Law.com shall establish a customer service center
to field all calls relating to both State Sites and national Law.com sites
(including, without limitation, advertising, circulation, fulfillment and
subscription billing information), with ALM providing regional contact to assist
Law.com customer service personnel.

         8.2 COSTS. [CONFIDENTIAL PORTION]

9.       TERM AND TERMINATION

         9.1 TERM. The term of this Agreement commences on December 1, 1999 and
shall end, unless sooner terminated on November 30, 2004. This Agreement will
automatically be renewed for an additional five-year period, unless one party
gives the other party written notice of termination before June 1, 2004.

         9.2 TERMINATION FOR MATERIAL BREACH. Either party may terminate this
Agreement upon sixty (60) days written notice if the other party, its officers,
directors, partners, employees, agents or contractors, materially breaches any
of the terms of this Agreement PROVIDED, HOWEVER, that this Agreement will not
terminate if the non-terminating party has cured the breach within the sixty
(60)-day period.

         9.3 TERMINATION BY ALM. In addition to various other express rights of
ALM to terminate this Agreement set forth herein, ALM shall also have the right
to terminate this Agreement immediately by written notice to Law.com if:
[CONFIDENTIAL PORTION], or (iii) upon a violation of ALM's proprietary rights
hereunder, or (iv) upon termination of the business of Law.com.

         9.4 EFFECT OF TERMINATION. Upon termination or expiration of this
Agreement, Law.com shall immediately remove all Licensed Content from its sites
and immediately deliver to ALM all fees due to ALM hereunder. Upon termination
or expiration of this Agreement, all rights granted to Law.com hereunder shall
automatically revert to ALM without further notice.

10.      WARRANTIES AND LIMITATION OF LIABILITY

         10.1 ALM WARRANTY. [CONFIDENTIAL PORTION]

         10.2 LIMITATION OF WARRANTY. THE WARRANTY STATED ABOVE IS A LIMITED
WARRANTY AND THE ONLY WARRANTY MADE BY THE PARTIES. BOTH PARTIES WAIVE ALL OTHER
WARRANTIES, EXPRESS OR IMPLIED INCLUDING, BUT NOT LIMITED TO IMPLIED WARRANTIES
OR MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

         10.3 LIMITATION OF LIABILITY. [CONFIDENTIAL PORTION]

<PAGE>

11.      NOTICES

         All notices, requests and other communications to any party hereunder
will be in writing (including facsimile transmission) and will be given to such
party at its address and facsimile number set forth in SCHEDULE 11 (which may be
changed by such party upon notice in accordance with this Section 11). All such
notices, requests and other communications will be deemed received on the date
of receipt by the recipient thereof if received prior to 5:00 p.m. in the place
of receipt and such day is a Business Day in the place of receipt. Otherwise,
any such notice, request of communication will be deemed not to have been
received until the next succeeding Business Day in the place of receipt.

12.      MISCELLANEOUS

         12.1 AMENDMENTS. Any provision of this Agreement may be amended or
waived if, but only if, such amendment or waiver is in writing and is signed, in
the case of an amendment, by each .party to this Agreement, or in the case of a
waiver, by the party against whom the waiver is to be effective.

         12.2 WAIVERS. No failure or delay by any party in exercising any right,
power or privilege hereunder will operate as a waiver thereof nor will any
single or partial exercise thereof preclude any other or further exercise
thereof or the exercise of any other right, power or privilege. The rights and
remedies herein provided will be cumulative and not exclusive of any rights or
remedies provided by Law.

         12.3 EXPENSES. Whether or not the transactions contemplated by this
Agreement are consummated, except as otherwise expressly provided for herein,
the parties will pay or cause to be paid all of their own fees and expenses
incident to this Agreement and in preparing to consummate and consummating the
transactions contemplated hereby, including the fees and expenses of any broker,
finder, financial advisor or similar person engaged by such party.

         12.4 INDEPENDENT CONTRACTOR. The parties agree and acknowledge that the
relationship of the parties is in the nature of an independent contractor. This
Agreement shall not be deemed to create a partnership or joint venture and
neither party is the other's agent, partner, employee, or representative.
Neither party hereto shall have the right to obligate or bind the other party in
any manner whatsoever, and nothing herein contained shall give or is intended to
give any rights of any kind to any third persons.

         12.5 FORCE MAJEURE. Neither party shall be deemed in default of this
Agreement to the extent that performance of its obligations or attempts to cure
any breach are delayed, restricted or prevented by reason of any acts of God,
fire, natural disaster, act of government, strikes of labor disputes, inability
to provide raw materials, power or supplies, or any other act or condition
beyond the reasonable control of the parties provided that such party gives the
other party written notice thereof and uses its best efforts to cure the delay.
In the event that any act of force majeure prevents

<PAGE>

either party from carrying out its obligations under this Agreement for a period
of more than six months, the other party may terminate this Agreement without
liability upon 30 days written notice.

         12.6 SUCCESSORS AND ASSIGNS. The provisions of this Agreement will be
binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns; PROVIDED that no party may assign, delegate or otherwise
Transfer (including by merger or operation of Law) any of its rights or
obligations under this Agreement without the consent of each other party hereto.
Notwithstanding the foregoing, ALM may assign its rights and delegate its
obligations under this Agreement to an Affiliate of ALM without the consent of
Law.com. Any assignment in violation of this Section 12.6 will be void and of no
force and effect.

         12.7 NO THIRD-PARTY BENEFICIARIES. This Agreement is for the sole
benefit of the parties hereto and their permitted successors and assigns and
nothing herein expressed or implied will give or be construed to give to any
Person, other than the parties hereto and such permitted successors and assigns
any legal or equitable rights hereunder.

         12.8 GOVERNING LAW. This Agreement will be governed by, and construed
in accordance with, the laws of the State of New York, without regard to the
conflicts of laws rules of such state.

         12.9 JURISDICTION. Any suit, action or proceeding seeking to enforce
any provision of, or based on any matter arising out of or in connection with,
this Agreement or the transactions contemplated hereby may be brought in any
court of competent jurisdiction in the Borough of Manhattan or the United States
District Court for the Southern District of New York. Each of the parties hereby
(i) consents to the non-exclusive jurisdiction of such courts (and of the
appropriate appellate courts therefrom) in any such suit, action or proceeding,
(ii) irrevocably waives, to the fullest extent permitted by Law, any objection
which it may now or hereafter have to the laying of the venue of any such suit,
action or proceeding in any such court or that any such suit, action or
proceeding which is brought in any such court has been brought in an
inconvenient forum, (iii) will not attempt to deny or defeat such personal
jurisdiction by motion or other request for leave from any such court, and (iv)
will not bring any action relating to this Agreement or any of the transactions
contemplated by this Agreement in any other court. Process in any such suit,
action or proceeding may be served on any party anywhere in the world, whether
within or without the jurisdiction of any such court.

         12.10 PUBLIC ANNOUNCEMENTS. ALM and Law.com will consult with each
other before issuing, or permitting any agent or Affiliate to issue, any press
releases or otherwise making or permitting any agent or Affiliate to make any
public statements with respect to this Agreement and the transactions
contemplated hereby.

         12.11 WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY
IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING,
CLAIM OR COUNTERCLAIM, WHETHER IN CONTRACT OR TORT, AT LAW OR IN EQUITY, ARISING
OUT OF OR IN ANY WAY RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY.

<PAGE>

         12.12 COUNTERPARTS. This Agreement may be signed in any number of
counterparts, each of which will be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument.

         12.13 HEADINGS. The headings in this Agreement are for convenience of
reference only and will not control or affect the meaning or construction of any
provisions hereof.

         12.14 ENTIRE AGREEMENT. This Agreement (including the Schedules and
Exhibits hereto) constitutes the entire agreement among the parties with respect
to the subject matter of this Agreement. This Agreement (including the Schedules
and Exhibits hereto) supersedes all prior agreements and understandings, both
oral and written, between the parties with respect to the subject matter hereof
of this Agreement.

         12.15 SEVERABILITY. The provisions of this Agreement are severable. If
any provision of this Agreement or the application of any such provision to any
Person or circumstance is held invalid, illegal or otherwise unenforceable, in
any respect by a competent court of jurisdiction, the remainder of the
provisions of this Agreement (or the application of such provision in other
jurisdictions or to other Persons or circumstances other than those to which it
was held invalid, illegal or unenforceable) will in no way be affected, impaired
or invalidated, and to the extent permitted by applicable Law, any such
provision will be restricted in applicability or reformed to the minimum extent
required for such provision to be enforceable. This provision will be
interpreted and enforced to give effect to the original written intent of the
parties prior to the determination of such invalidity or unenforceability.

         12.16 INJUNCTIVE RELIEF. The parties acknowledge and agree that any
violation of this Agreement will result in irreparable injury to the
non-breaching party, the exact amount of which will be difficult to ascertain
and the remedies at Law for which will not be reasonable or adequate
compensation to the non-breaching party for such a violation. Accordingly, ALM
and Law.com agree that if either party violates any of the provisions of this
Agreement, in addition to any other remedy available at law or in equity, the
non-breaching party will be entitled to seek specific performance or injunctive
relief without posting a bond, or other security, and without the necessity of
proving actual damages.

         12.17 NO WAIVER. No action or inaction taken or omitted pursuant to
this Agreement will be deemed to constitute a waiver of compliance with any
representations, warranties or covenants contained in this Agreement and will
not operate or be construed as a waiver of any subsequent breach, whether of a
similar or dissimilar nature.

         12.18 CERTAIN INTERPRETIVE MATTERS. (a) Unless the context otherwise
requires, (i) all references to Sections, Articles, Schedules or Exhibits are to
Sections, Articles, Schedules or Exhibits of or to this Agreement; (ii) each of
the Schedules will apply only to the corresponding subsection (or, if there is
no subsection, section) of this Agreement; (iii) each term defined in this
Agreement has the meaning assigned to it; (iv) each accounting term not
otherwise defined in this Agreement has the meaning assigned to it in accordance
with GAAP; (v) words in the singular include the plural and VICE VERSA; and (vi)
the term "INCLUDING" means "including without limitation." All references to
Laws in this Agreement will include any applicable amendments

<PAGE>

thereunder. All references to "$" or dollar amounts will be to lawful currency
of the United States. To the extent the term "DAY" or "DAYS" is used, it will
mean calendar days (unless referred to as a Business Day). All terms defined in
this Agreement have the defined meanings when used in any certificate or other
document made or delivered pursuant hereto unless otherwise defined therein. The
definitions contained in this Agreement are applicable to the singular as well
as the plural forms of such terms and to the masculine as well as to the
feminine and neuter genders of such term. References to a Person are also to its
permitted successors and assigns.

         (b) No provision of this Agreement will be interpreted in favor or, or
against, any of the parties hereto by reason of the extent to which any such
party or its counsel participated in the drafting thereof or by reason of the
extent to which any such provision is inconsistent with any prior draft hereof
or thereof.

<PAGE>

         The parties hereto have caused this Agreement to be duly executed by
their respective authorized officers or in their individual capacity, if
applicable as of the day and year first above written.

                                                  AMERICAN LAWYER MEDIA, INC.

                                                  -----------------------------
                                                  By:
                                                  Its:

                                                  LAW.COM, INC.

                                                  -----------------------------
                                                  By:
                                                  Its:

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